>> contessa, yes interesting story and congrats to kate kelly for the scoop.k we had expected this transition happened at some point this year. but probably late this year. so this midsummer transition sends them a bit of a surprise when i interviewed log back in april, he said there were a few things to learn before taking over interestingly, sources close to david solomon said to me that wasn't so much about learning the different parts of the business, him having been an investment banker, but more about learning the pipes of the business don't forget, harvey schwartz was cfo. that financial control of the business hasn't been something david as done. this timing means that lloyd and the board thinks that david has done that and he's totally ready to take over it's not clear what prompted gold man to formalize things this particular moment but that would be my take perhaps on why it would be hang now. what does it mean for the future of the bank? of course, it's thought already that david is heavily involved in all of the -- the last couple of years, includ

contes contessa brewer, nightly business report. >> china is also a huge market for starbucks. the plan is to open a new store over 16 hours over the nex few years. eunice eun is in beijing for us tonight. >> reporter: starbucks' newest competitor in china. the logo is of a deer native to client. the wit starbucks, that's what make it different than the others. it's totally home grown. i spoke to -- younlan pay through the app, no cash. and -- more chinese like to order food and drinks online. you get your coffee within 30 minutes or it' free. >> the old way people look for coffee, for us, coffee finds them. >> reporter: foreign companies compete on te. with drinks are 20 to 30% chper than starbucks. it's aulo opely criticized starbucks. ites descr -- >> translator: we believe starbucks behaviorndmines their competition and prevents chinese customers from having con convenient access. the hard-quality coffee -- >> reporter: as for the trade war, he doesn't believe that lesson will benefit, just thewe the state media is interviewing customers to say they prefertarbucks because o

contessa. >> and i'm contessa brewer we begin in washington, d.c., where the justice department has indicted 12 russian intelligence officers, accusing them of being involved in the hack on the dnc leading up to the 2016 election. kayla tausche has more on this story. kayla. >> contessa, a grand jury impanelled by special counsel robert mueller indicting those 12 russian intelligence officers, finding that they hacked into the clinton campaign, the dnc and the democratic congressional committee. the 11 criminal counts range from conspiracy to commit an offense against the u.s. to aggravated identity left to money laundering deputy attorney general rod rosenstein, who oversees the investigation, said he briefed the president earlier this week on the charges and that president trump was fully aware of what the doj would announce but wouldn't say whether he supported the move >> the president speaks for himself. obviously it was important for the president to know what information we've uncovered because he's got to make very important decisions for the country, so he needs to understand what e

contessa brewer joins us with those details. >> hi there, seema tesla is raising the price by 25%. according to the chinese website the prices went up by anywhere from 22,000 to $37,000 per vehicle tacked onto the price. in may the company slashed 14,000 off the sticker price after the government announced major tariff cuts for auto imports. the new tariff, erased that. china is a key market. the sales account for 17% of total revenue last year. the price increases come after a company is planning to serve elon musk is expected to visit later this week. after all, they like luxury, right? others say many buyers are becoming price conscious you can see right now it doesn't seem to have affected that >>> we're just getting started with wror"worldwide exchange. the china factor one person says people are getting too complacent. >>> i hop is coming clean and getting ck tbao its roots. we'll exchange when "worldwide exchange" returns. >>> welcome back to "worldwide exchange." early market action. with futures we are indicating a higher open. the s&p up by just about 4 points the dow by

i'm contessa brewer.sident trump's latest tariff threat pushing the brakes on the latest rally we are around session lows as we speak. the transport is taking a big hit today on track for their worst someday in two weeks look at that, the dow transports down by 2% and american airlines down by 8% the worst day for may since the dow transports and you can see american leading that decline tyler? >>> contessa, thank you. i'm tyler mathisen we begin with early fireworks at the nato summit. president trump coming out swinging, germany taking the biggest hit so far but the family photo went off without a hitch, or an elbow shove. eamon javers is live in brussels with all the latest. hi, eamon. >> reporter: that's right, tyler, it's cocktail hour in brussels meaning they had time to do the family photo that you're talking about the famous vision of all the nato leaders gathered together and, of course, we saw the president and first lady arriving at nato headquarters earlier today for that cocktail party. some

contessa, have a great weekend. weekend. it's been so warm across the bay area. let's check the forecast for tobearable, like it has been in some parts of the bay area. as we get a live look inse ts clouds clearing out fast. at 8:00, 64 degree, headed into the upper 80s today. we'll talk about what's ahead for the weekend coming up next. >>> right now a view of fremont, a clear view of clear roadway, moving nicely. we're talking about folks getting on the roadway and what the patterns may be as you get toward the midday. >>> we will also continue to bring you the latest on the fire raging near reading. see the moment a local television station had to sign off, actually fearing for their lives. >>> good friday morning to you. look at that. it's pretty early in the morning, when you can count the cars out there. counting cars, that's an old one. live look outside at richmond this morning. we'll have a full look at the morning commute in the forecast of course coming up in a few. it is quarter to 5:00. >>> also happening today, garlic lovers probably can taste it or

fo nightly business report, i'm contessa brewer. >>> hasbro gets aift from marvel toy sales. that's where we begin tonight's focus. >>> the t maker reported a the results still came in ahead of wall street's lower expectations. they were helped by strengthening the coany's entertainment and licensing division as well as strong demand for marvel and babe laid branded products. hasbro said tt pla move some of its production out of china due to the ongoing tariff fight. shares jumped 12% today making it the best performing stock in the s&p 500 today. then there's the other company, revenues camen strongerhan expected. halliburton production ramped up in the u.s., but the beat was overshadowed by concerns that demand i slowing for halliburton's services in the primmian basin. shares fell to 41.54, making it the worst perfoing stockn the s&p today. >>> higher selling prices helped egg producer cal main's demise. the company warned that the market may see additional pricin pressures due to excess supply. shares were off 2% to44.95. >>> health care servi s provider said it has agree

i'm contessa brewer live at cnbc's global headquarters. here are today's top business headlines. wall street poised to rebound. dow futures up 186 points right now after yesterday's sell-off. that was sparked by more trade war fears after the u.s. unveiled new tariffs on chinese goods. the dow snapped its four-day winning streak. it was the longest positive stretch we have seen in about a month. on today's watch list, data on unemployment and consumer prices. the dow fell yesterday 219 points and nasdaq dropped 42. >> papa john's founder john schneider has resigned as chairman of the company after he admitted he used a racial slur on a media training conference call. forbes reported that back in may, he was trying to downplay controversial comments he made last year about nfl players kneeling during the national anthem. he allegedly complained that kfc founder colonel sanders never faced backlash for using racist words. the founder of papa john's in 1984, now it's grown to more than 4700 stores in nearly 40 countries. >> you know, there's lot of research that supports napping in

a second attempt by two high-profile bitcoin backers to launch the first ever cryptocurrency etf contessa brewer has more on the winklevoss twins >> the sec has turned down a proposal to list shares on the first ever bitcoin exchange traded fund. the commission previously blocked the winklevoss brothers. bitcoin dipped below $7,975. the winklevoss' run the cryptocurrency exchange gemini trust. but the etf they proposed would not be sufficiently protected from manipulation and fraud. the agency did not completely shut the door to such products once the bitcoin market had matured. cameron winklevoss says he and his brother are committed to bringing a regulated bitcoin etf to market and building the future of money. cryptocurrency traders have been hoping an etf product would make the currency more attractive to retail investors and wall street there are three other proposals pending before the s.e.c it's interesting, because we've seen these big regulatory boards say this is not for retail investors, there's a lot of risk involved here and it's not a currency >> i said currency, i should ha

well time to a turn to this morning's top trending stories contessa brewer is back with those. a good one we should pay attention to we got up early today. >> we got up late. >> we got up late didn't we. there's lots of scientific research that shows the advantages of a midday nap or in our case morning nap lots wish their companies would capitalize on that research. they have offered a place where patrons can rent a nap you get the sound proof space with privacy curcurtains, socks, pajamas, white noise, locker to store your stuff and you get to sleep on a casper mattress if you're paying $25 for a 45 minute nap, let's assume it leaves you 15 minutes to change the sheets for the next person are they making money on this or is this a employ just to sell the mattress >> i think it's just to sell the mattress and people are wondering what is it like to sleep on it. it gives you the ability to try it out for 45 minutes. it's great marketing. >> and the nap. >> there are companies that do the nap pods >> in midtown there's one actually. >> wryeah we got some space upstairs. >> we'll

let's check your top headlines with contessa brewer >> china says the u.s.g fire on the world with tariff threats the nation adds it will not fire the first shot but chinese tariff also kick in immediately after the duties on chinese goods start. >>> president trump demanding that opec do more to stabilize oil markets. this comes days after the discussion of maybe the kingdom releasing more crude to dampen rising prices. >>> hollywood closing out a record quarter with more than $6 billion in ticket sales putting it on pace for its best summer since 2013 jurassic world fallen kingdom leading the charge, expected to generate more than $1 billion i ticket sales by the end of the wee week >> i want to take you back to 1984 when i say this line "he drew first blood, not me." trying to do the lip thing you may be off still, a lot of people taking the rest of the week off sounds good. markets look good now. dow futures indicating a jump of about 96 at the open you may say it's because of light volume, but who cares. makes your investments look better joining us is

i'm contessa brewer. you so much for joining us good luck with your plank pose or downward dog or happy child or happy baby. becky will be back next week and talk about a dangerous job meet the workers who really have to watch their step. >>> each week keep it right here we're "on the money. have a great one we'll see you next weekend w muc does your house still smell stuffy? that's because your home is filled with soft surfaces that trap odors and release them back into the room. so, try febreze fabric refresher. febreze finds odors trapped in fabrics and cleans them away as it dries. use febreze every time you tidy up to keep your whole house smelling fresh air clean. fabric refresher even works for clothes you want to wear another day. make febreze part of your clean routine for whole home freshness. >>> hi there we're live at the nasdaq marketsite and look who decided to stick around for the big o.a. hi, guy. guy is here and we're getting ready behind me. here's what's happening coming up on the show

contessa >> reporter: morgan, this is the plant that produces those non-gmo food grade soybeans.lled all of its north dakota contracts for this product since the tariffs have been slapped on it from china. now, we know that these contracts are getting locked down in august just as that happens, richland ifc, which sends 23% of its global exports to china specifically, a contract was yanked a few weeks ago though president brandenburger found replacement buyers, he had to sell at a big discount. the processors and the farmers on the ground told me, they agree with the president, they were on an uneven playing field, but the farmers don't have the cash flow or the savings to ride out a long-term trade war. here's the response when i explained to them what the administration says is happening on the trade talk front. last week, the administration admitted that there are no high-level trade talks going on right now with china >> you're serious? i was not aware of that. wow. seriously? that's interesting we're just going to close the door and walk away interesting. that's not good. i

contessa, it's calling from inside the house. have a great weekend. >> right. >>> we've got a follow-up now, some 10,000 disneyland workers have approved a new three-year labor contract. disney says it's part of the deal. lowest paid workers will receive $15 an hour by the year 2020, two years ahead of the state's minimum wage. >>> american airlines go i have been in on one of its rules for the cheap seats. starting in september, the airline will no longer require basic economy passengers to check their carry-on bags and pay the fees. in 2017, when the airline launched the no frills fare, you couldn't bring carry-ones in the cheap seats that didn't fit underneath your seat. >> so people were layering their clothes. >> going in like this. >> i actually heard people advise that you do that, that you wear as much as you can and stick a whole bunch of stuff in your pockets. >> i wear my clunkiest shoes because they take up a tremendous amount of space. >> it's always cold. >> certainly, jump on a plane to find relief from the heat. >

contessa thank you contessa brewer. >>> let's get to eric he has a market flash big aroma. >> this stockews the chairman is considering breaking up the company splitting off into two companies he has been talking to the biggest shareholders about the plans to get their take. that's why the stock moving up about 3.5% just one tidbit it's been basically flat over 5% the last 12 months. maybe one reason they are looking for more juice in the stock. >> i can't remember how long ago but i remember when glaxo and smith klein. >> you know who always makes money. >> the bankers make it on the up and down. >> um-hum. >> maybe this is me. straights ahead. the winner of the world series of poker main event will show off flashry jewelry he picked up in las vegas that's what he get when you win. and we will talk about the plans for the $9 million haul. straight ahead imagine traveling hassle-free with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.

contessa brewer live at a cheese warehouse with more. hi, contessa. >> hi, michelle.s are eating more cheese and we are, then why is this the -- the problem? 1.4 billion pounds almost of cheese just sitting in refrigerate the story youhouses. part of the problem is american ouks are producing more milk at a time when american consumption has lagged for decades the big processors have been intently going after foreign markets sending as much as 20% of u.s. dairy abroad much in the form of cheese which mass a longer shelf life. but two of the biggest importers be mexico and china slapped 25% retaliatory tariffs on u.s. cheeses sending cheese futures lower. and some manufacturers already report the declining sales >> the amount of inventory they have will certainly increase and they can do two things, try to find different markets to go after totry to move some of th products if china and mexico don't buy them or they could sell it domestically here at a lesser price -- lower price as far as local cheese production, they may not be competitive enough to be able to sustai

plus the trade war hitting soybeans, our contessa brewer is live in portland, north dakota contessa >the ground in north dakota, you've got millions of acres of food grade soybeans under cultivation, but already the retaliatory trade wars against china are slapping the soybean farmers lard, and they're getting a political slap in the face here more ahead on "squawk on the street." ♪ come on. this summer, add a new member to the family. at the mercedes-benz summer event. lease the glc300 for $429 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. we all want to know you know, the new, new thing. with xfinity's retail stores, you can now see the latest. want to test drive the latest devices? be our guest. want to save on mobile? just ask. want to demo the latest innovations and technology? do it here. come see how we're making things simple, easy and awesome. plus, come in today and ask about xfinity mobile. a new kind of wireless network designed to save you money. visit your local xfinity store today. >>> welcome back to "squawk on the street," china cance

now to contessa. what are investors watching for today?stors will be looking for deficiency and leaner operating ratios this quarter analysts are looking for it to come in at 61.9%. and long-term csx is planning for that to be 60% or better and also fuel costs and whether csx and able to pass those costs onto customers or whether they're forced to eat those prices and the railroads three biggest segments are chemical, auto motive and agricultural and food products these tariffs could effect food and chemical shipment products >>> guys, thanks very much we look forward to the numbers after the bell up next we come back the closing count down >> and then after the bell pharma companies may soon be turning to a new method to address high drug prices pay for performance, we would explain how that would work on "closing bell. there they are, your neighbors. you like them. they always remember everyone's names. your kids love swimming in their pool. you like them. if you forget your trunks, they'll loan you some. they have a section in their sto

the question now, do we face a currency war as well >> i'm contessa bruer in portland, north dakota where they find themselves scrambling in the markets after getting caught in the middle of a trade war between the united states and china. >> president trump doubling down on his criticism of the federal reserve today, and i'll look at the potential implications of politicizing the effect. >> and the incoming ceo of state street says there's one thing that could damage the u.s. economy. "the closing bell" starts right now. >>> good afternoon, everyone happy friday welcome to "the closing bell." do you know what i'm most pleased about, sara? >> i have no idea. >> your foot is so much better you were unable to walk on monday, you were limping >> and now i'm back in heels >> we'll get to all those stories from the headlines in just a moment. but first let's check in on the markets. the dow swinging more than 130 points intraday. it is currently flat the s&p and nasdaq also flat the russell slipping a bit the nasdaq was on pace to post its third consecutive weekly gain but only just in fact it

does america have a cheese glut hey, contessa. >> they're heeating more cheeser why?ter the reason is because the cows are producing more milk and yet american con sunlgts of milk has declining for decades these big manufacturers have looked to open new markets the extra milk gets turned into cheese which has a more stable shelf life b and as much as 20% of u.s. dairy gets sent abroad according to industry trade groups >> as we look at the future, 95% of consumers are going to reside outside of the united states the productive capacity of american agriculture is unsurpassed any place in the world, so we need trade agreements to facilitate the movement of good frs the u.s. to all countries around the world >> mexico is the biggest impo importer of american cheese. it get about quarter of all exported u.s. dairy, but now has slapped 25% tariffs on cheese from the u.s to rather, the fourth largest importer has piled on import duties and all this could add to the surplus we're seeing cheese makers have a couple big concerns one, decline in sales. two, that their customers

contessa brewer with the headlines. >> hi there, scott >>> before theish prime minister theresa may is defending her brexit strategy at questions in the parliament a day after facing down rebel yen of exit from the european union pointing out her achievements of the past week and included her meeting with president trump >>> members of the thai soccer team had a news conference before returning to their homes. the first opportunity to speak directly to the media since being rescued from a flooded caves. they answered reporters' questions, but questions reviewed in advance by officials. >>> tesla eli musk apologized for calling a british diver in that rescue a pedophile. musk says he spoke in anger and was wrong to do so's in responses to a tv interview. the diver calls musk's sending of a small submarine a publicity stunt. >>> and new evacuations in place and spreading ferguson fire, burned more than 12,000 acres. right now only 5% contained. officials say the fire threatens more than 100 buildings. >>> that's the cnbc update at this hour. back to you. >> all right contes contessa, tha

hey, contessa? >> hey there, michelle in louisville this town's economy relies so heavily on its signature spirit the mayor has actually coined the term bourbonism. globally you have drinkers who are beginning to develop a taste for bourbon as well. in the last five years, in fact, american whiskey has doubled its share at the chinese market now at 9%. it's really chipping away at the dominance of scotch whiskey. kentucky peerless distilling is hoping to sell in seven countries in the next several years, but trying to factor in this stiff new tariffs >> i think it is going to change things just a little bit i'm building warehouses. i constantly having additions going into our distillation equipment, our grain milling, so to think there's a chance we may not be able to utilize everything we're putting forward is a problem. >> the kentucky distiller's association is suggesting the trump administration sit down with our overseas trading partners they say perhaps over a glass of bourbon and, you know, r

nice to see you, contessa.cheese behind the wheel of ford's new muscle car phil lebeau live in the city that helped make the mustang bullitt. >> the roar is back with the assistance of my producer megan reater listen to this car it is the bullitt mustang and it is back. atto wn quk x" returns. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. the number-one-selling - dad's got all the answers. w n health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life. >>> welcome back to "squawk" this morning ford unveiling its new mustang bullitt in the city that helped make the souped-up version in its glory days ford struggling to attract car buyers phil lebeau joins us from outside of san francisco this morning. >> there are assignments and the

contessa brewer will bring us results from las vegas. megan terrell all over gilliad.- >> you are not covering earnings. >> i feel a little left out. >> which ones do you want today? >> i just feel a little left out. >> of course, you do. michael santoli, courtney gibson here. biggest winner in the dow today turned out to be microsoft while verizon was the biggest loser. northrop grumman the biggest loser. >> it was interesting the market was sort of sneaky strong throughout the afternoon. when you got the headlines it was risk on but pressed. i don't think it is because anyone knowathize -- knows the details. the fear the markets had that the president just wanted an aggressive posture and he thought that was a winning issue for him. if it is about concessions and declaring some kind of victory which may or may not have effect on the trade deficit that is a net positive. >> how much more upside is there on this particular issue so far most people seem to suggest that we didn't set up that much on trade fears. does it mean we got a bit of a jump today >> i don't know i

in louisville, kentucky, contessaer br nightly business report. >>> an entrepreur provides lamp shadess tonight's bright idea next. ♪ ♪ >> here's what to watch for next week. on monday, president tru is expected to announce his nominee for the supreme court justice, a decision that could impact business, of course. on tuesday, executives from the world's biggest media and tech companies gather in s valle at the exclusive allen and company conference. and on friday, number of major banks report earnings including dow component j.p. morgan chase and that's all that we're watching for comingwe up next . >>> well, when we talk about drawing energy from mother nature we usually think about solar or wind, but there are lots of ways to dot. t natural energy can be used to make things, as well and that's how one entrepreneur in brooklyn, new york, got the bright idea to use energy produced by mushroom. roo yep, it's called my sill yum, to make lamp shades. ♪ ♪ >> in her brooklyn design studio, danielle is looking for answers to a lot of what ifs. goodst if all of our could be made differently?

contessa brewer is live in louisville, but we begin with vaughn hillyard live from freeport, maine.rter: tyler, when you're looking at the scene here, up and down the coast of maine, you've got these port towns with about a thousand people living in them. the industry that they're relying on here are lobsters with that 25% additional tariff being added on today, a lot of these fishermen we've talked to are concerned about the price dropping because 20% of the exports coming out of maine go to china without that market, it's a question of what are the fishermen here to do you've got 12,000 individuals here working on these waters i talked to one of those, a 29-year-old. he is working just down the road his name is cyrus sleeper and he said that impact ultimately, he said about 50,000 pounds of lobster he produces every year on his boat. if it goes down by a dime, the price, he said that's $5,000 not an insignificant figure for him. this is tom adams, a major distributor in the state and works with hundreds of lobster men like cyrus he said that just here in this last week that the ch

speaking of cricket, former pakistan cricket captain imran contessa claimed victory in the country'sst seats and set to become prime minister. his voters claimed there was widespread vote rigging and interference from the forces. crowds gathered outside his home when the outskirts of islamabad, hoping for a glance of the man said to become pakistan's new prime minister. he can bring real reforms. and we think that he is the only one who can take pakistan forward in the right direction. from inside his home, he addressed the nation. declaring victory in the elections and promising to create a fairer, more equal society. translation: we will want pakistan and a way that it has never been before. he first became a star as an international cricketer. in britain, he was known for his good looks and playboy lifestyle. in 1995, he married british socialite. after entering politics 22 years ago, he initially struggled, but his anti—corruption message has energised young voters. his political rivals they'll have rejected the results of the vote. his critics say pakistan's military won it to r

contessa brewer is in kentucky to talk bourbon.you tell us >> if you look around louisville, you have all these bars and restaurants based on bourbon. the bourbon business is booming overseas you have kentucky exporting 4$40 million worth of whiskey last year that's a 23% increase from the year before. in china american whiskey doubled its market share to 9% it is chipping away at scotch whiskey's dominance. china plays an important role in the growth of plants, smaller distillers are also trying to break into the market, and if they take a hit, so do the glassmakers, barrelmakers. >> when you take away the jobs, exporting them to spain, you are gut punching kentucky. >> so 65% of american whiskey exports are now subject to retaliatory tariffs. >> i've heard over the years that it's been harder and harder to produce enough of the bourbon just because it takes so long to age in the barrels is the impact going to be felt at this point or will it be some time before you see this ripple through? >> a distiller told me yesterday we're p

they base it all on an individual and that individual makes some pretty significant missteps >> contessaory today, shares up 40%, wow when we come back this morning, as major banks get set to report earnings, thomas michaud will tell us what to expect from the banks after that roughta t srto the year, dow is up 176, we're back after a short break [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event. >>> one under the radar consumer stock is surging this year and traders say it's just the beginning of an even bigger breakout find out, 'lwel name names, traders nation much more "squawk on the street" coming up. before you can achieve a higher standard of craftsmanship you need a higher standard of craftsman. see for yourself at the lexus golden opportunity sales event. experience amazing at your lexus dealer. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. >>> banks will be a very

guys >> all right contessa, thank you very much.host today jim paulson. we'll go back to the president's tweet and how it plays into what contessa was telling us about the farmers and the trade. that's a lot for markets to try to assess and figure out how to handle them. >> i think one of the biggest things at the moment might be the dollar which president trump commented on i don't disagree with that i think the collapse in commodity prices we've seen, not just in soybeans but nonenergy prices have collapsed in the last 30 days ting dove tails in the rise of the dollar. >> he points out we're raising rates while others are lowering rates. we lowered rates first. >> i concur. i think we've got to -- the inflation rate on cpi is one of the highest. the core rate is going to break out to new highs for the recovery oil is three-year highs. i think there's a reason to do it at a 4% unemployment rate it doesn't mean there won't be fall out one of the fall outs is economies slow. >> maybe so. one of the causes of a rising dollar is u.s. g

contessa joins us with more on the story. >> reporter: yeah, so this is gloria allred holding a pressw charges against david winestein carry a maximum sentence of life in prison the former movie mogul headed into court to enter a not guilty plea there are two charges of predatory sexual assault and another crime of a criminal sexual act he is wearing a monitoring device and has surrendered his passport and is out on a million dollars bail but prosecutors say in manhattan, they say here has sold his connecticut home. winestein can stay at his connecticut home until next february as part of the sale conditions and the media will just turn any new york city resident into a circus winestein only goes to his doctors, his attorneys and to his job. we asked ben brackman in a news conference afterwards, and what is his job primarily he's serving as a parallel to his defense attorney and he's a brilliant maker of movies of course winestein was fired from his own company last october, that company has declared bankruptcy. and just last friday, winestein made a deal with creditors that allows a

thank you, contessa.oining us to discuss is the vice president of housing research at cabelli and company. >> thank you for having me on. >> there are a lot of numbers in this report. first, whirlpool is thrilled when the president puts tariffs on washing machines. they are so happy. then, oh, you are also going to put them on steel and alum pneumoni -- alumin aluminum, and now our input costs have riz ip. it really has turned around on them >> when you look at the guidance of raw material inflation, they moved it from $350 million up from $250 million to $300 million for the year, which is a pretty big move up, and a big part of that is related to the tariffs and the rise in steel. mark bitzer on the call did say steel prices in the u.s. are 50% higher than the rest of the world. >> was their ability to push price in their washing machines and across the other pipeline. >> did he express any regret about being supportive of tear ofs in the first place on washing machines >> you can definitely see that th

first though, contessa brewer. >> the president says germany's gas deal with russia makes it a pupt of putin. does he have a point we are looking at how dependent germany really is on russia for its energy plus, the president declaring vikt ctory saying he spoke to pfizer's ceo and the company will roll back price hikes and oprah goes organic the media mogul investing in a healthy restaurant chain that ceo joins us live ahead this is my headquarters. this is where i trade and manage my portfolio. since i added futures, i have access to the oil markets and gold markets. okay. i'm plugged into equities - trade confirmed - and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. at the marine mammal center, the environment is everything. we want to do our very best for each and every animal, and we want to operate a sustainable facility. and pg&e has been a partner helping us to achieve that. we've helped the marine mammal center go solar, install electric vehicle chargi

contessa brewer has more life from kentucky. >> brian, tourists come from all over the world to visitouisville because of its signature liquor they come, they walk whiskey row, they visit distillers along the bourbon trail. this town has an economy that relies so heavily on its signature liquor the mayor coined a term bourbonism around the world bourbon is booming. american whiskey has doubled its share of the chinese market between 2012 and 2017. it's at 9% it's really chipping away at the share of scotch whiskey. many distillers both large and small are making strategic plans for growth based on global expansion. kentucky peerless distilling facing uncertainty with only 20 employees, just launching its international business and hoping to sell in seven countries in the next couple of years. >> i think it is going to change things a bit i'm building warehouses. i constantly have additions going into the distillation equipment, bottling line to think there's a chance we will not be able to utilize everything we're putting forward is a problem >> it's not just the distillers. u.s. cham

i'm contessa brewer. >>> i'm seema

>>> contessa brewer. barack obama held a town hall meeting in south africa.was sponsored by his private foundation he talked about the need for women to get involved in politics >> women in particular, by the way, i want you to get more involved because, because -- men have been getting on my nerves lately i mean, i just -- every day i read the newspaper and i just think, brothers, what's wrong with you guys? >> i me-- what's wrong with us. >> rescuers have found six bodies after the collapse of a building east of new delhi four or five more people may be trapped. rescuers have yet to pull out any survivors. >>> a blockbuster trade in the nba. the spurs trading 2014 finals mvp kawhi leonard to toronto for four-time alltardy mar defrozen. two other players were part of the deal plus the spurs got toronto's protected 2019 first-round pick. that's the cnbc news at this hour >> david faber is very interested in that last story contessa. >> i missed that >> thank you let's get a check on the markets. stocks on the rise as morgan stanley leads the paniking seggor h

. >>> i'm contessa brewer with the cnbc market wrap. u.s.mostly higher on a wave of strong corporate earnings. google parent alphabet hit an all-time high following solid quarterly results after the bell. the internet giant shrugged off eu regulatory concerns as analysts' confidence grows over alphabet's emerging businesses. that's it from cnbc, first in business worldwide. now back to "mtp daily." >>> welcome back. the trump administration faces a thursday deadline to reunite thousands of migrant kids with their families. there is a problem. the government may have already deported up to 463 parents. and the already complicated reunification process is now even more formidable for those families. the justice department says that many deported parents willingly chose to leave their kids behind to seek asylum. yet it's unclear they fully understood what they were agreeing to. the trump administration says it's reunited some kids who were forcibly taken from their parents. 58 of the 103 toddlers have been reunited. what is next for these famil

. >> i agree >> thank you >> contessa brewer has the headlines.neers the news we continue to follow big story of the day, president trump and russian president vladimir putin holding a joint news conference after their summit trump insists the united states and russia have to find ways to cooperate in pursuit of shared interests. >> constructive dialogue between the united states and russia affords the opportunity to open new pathways towards peace and stability in our world i would rather take a political risk in pursuit of peace than to risk peace in pursuit of politics >> in nairobi, former president barack obama urged kenya leaders to turn their backs on divisive ethnic politics that's spilled over into violence he arrived in kenya sunday his first visit to the country of his father's birth since leaving office >>> croatia returning home the crowd roaring as the players came off the plane they board an open topped bus head for city. a remarkable achievement >> no doubt. pretty good final as well. >>> next up the trader blitz there's the market

. >> let's go to contessa brewer now with the headlines >> at a gop press conference today house speaker paul ryan said he is willing to apply additional sanctions on russia >> russia is trying to undermine democracy itself to delegitimize democracy. we know they interfered with our elections and we passed sanctions on russia to told them accountable. more importantly what we intend to do is make sure they don't get away with it again >> israeli prime minister benjamin netanyahu visited an area bordering the gaza strip. he said the military is prepared for any scenario israel placed new restrictions on its only cargo crossing into the gaza strip, no fuel until sunday in response to continued hamas hostility. >>> jeff bezos is not only the richest person in the world but also the richest person in modern history his fortune is now worth more than 1$150 billion, 5$55 billio richer than the number two man on the list, bill gates. at some point does it matter if you're $2 billion richer, $5 billion richer, $50 billion richer >> you're just loaded. it's funny i'm looking at a stat, amazon is

. >> for that and the rest of the news before the bell, we go to contessa brewer live at cnbc world headquarters. >> hi, scott, hi laura. wall street indicated to open just slightly higher this morning, following a mixed trading session yesterday. the dow rose more than 100 points, but the nasdaq fell by about 1%. facebook really dragging down that tech sector. facebook lost roughly $120 billion in market value, the largest one-day loss by any company in u.s. history. today we just got a report on second quarter gdp, shows the u.s. economy grew at the fastest pace in four years. yesterday we closed down on the dow 112 points and the nasdaq fell -- i got this backwards, the dow was up 100 points, the nasdaq fell 80. >>> american airlines is giving in on one of the rules for its cheapest seats starts september 5th. you no longer have to check your carry-on bags and pay the fee if you travel in basic economy. last year american launched this no frills fare, and the people who were in the seats were banned from bringing carry-ones that didn't fit under the seat in front of them. they're rolling that

six months since president trump announced first tariffs on washing machines was supposed to help contessawer joins us with more. >> good morning. this afternoon whirlpool announces earnings that investors will look for an indication about whether the 20% trump tariffs are paying off to the american manufacturer. whirlpool korean makers samsung and lg were taking them to the cleaners 20% tariffs on washing machines were announced in january. they were among the first that the trump administration slapped on imports and there was an immediate i am pack. the share price shot up. whirlpool added 200 employees to its factory in clyde, ohio and lg announced it would hike prices of washing machines by roughly $50. customers started seeing costs of washers and dryers climb. up 20% according to the bureau of labor statistics. we've seen the biggest monthly increases since the agency started keeping track. whirlpool share prices down about 15%. told investors it is paying substantially more for raw materials, in part because of the tariffs on steel and aluminum we'll hear from ceo marc blitzer how

harvey weinstein back in court ipnew york city pleading not guilty to more sexual assault charge hey, contessaeinstein is facing more charges the former studio head 66 years old walked into court. the most searerous are felonies of predatory sexual assault plus another count of criminal sex act for allegedly forcing himself on a woman in 2006 so this means there are six charges against him total. and his attorney expects there will be more charges coming down the pipe though weinstein is out on a million dollars bail, today a prosecutor asked he should be on house arrest and the judge decided to keep the bail conditions the same weinstein was fired from his own company last october and then last friday the weinstein company made a deal with creditors that allow a sale to go through to lantern capital. weinstein continues to insist all of these allegations are against him. he says he expects to be vindicated. very muc for that, outside that particular courthouse. >>> when we come back, we'll get another hint about this year's top state for business on the closing bell >>> which state will take

contessa has it for us. >> here is what is happening.t president trump's backing off of the comments he made when he seemed to side with russia over u.s. intelligence during his meeting with russian president vladimir putin earlier this week. take a listen. >> this notion that he somehow slipped on a word and we took a whole press conference wrong it was clear what he was doing from the start and what he had to say. when he saw the fire storm of opposition even from fox then he had to say something. >> it wasn't a perfect meeting. obviously, what happened in helsinki was especially nonperfect. i thought yesterday was a step forward. >>> a former british commodities trader has invented a jet suit that he says anyone can learn to fly. robert browning took an air flight down the street in london where you can buy the suit. it only costs $443,000. >> i would have expected a display to be sort of in a field somewhere safe. >> so confident. >> do you think that your neighbors might confuse you with the nemesis of batman if you were to buy one?

thanks for watching "power lunch" and thanks to bill and contessa. see you on friday. >>> it is time for the closing bell. another shot fired in the trade war with china and stocks are taking a hit. we've got the latest. >>> the number one analyst in the payment space joins us live with her top picks and what she calls the one disruptive to the sector. >>> a huge week for the united kingdom. the government in turmoil, a world cup semi final and the arrival of the president of the united states of america. full update from london coming up as "the closing bell" starts right now. >>> an epic open. welcome to "the closing bell". welcome, scott. >> first a check on the markets. major averages on pace to close lower for the first time in five days. dow, s&p experiencing the biggest losses of july. we are talking about less than one percentnews. >> our reporters are standing by. eamon javers in brussels with the latest on president trump's overseas trip. williford frost in london. >> focus on economics and politics. >> kayla, we begin with you. >> we are g

. >> contessa, thank you very much mike, this was quite an important one for the president's tariffs.is idea of a pricing umbrella and then blaming europe and the rest of that region is very interesting. obviously the dollar should have been a help in most of the period on a year over year basis during this quarter. so that really wasn't the source of it. it is a tough business by the way, it always was a tough business which is why they are always calling for help. >> they got it >> yeah. >> but didn't help that much >> a smart part of samsung's earnings that they have taken more of a hate than perhaps expected >>> ludicrous and desperate tharthat is what one automatic may have consultants is calling tesla's latest move. >>> and we'll tell you what the automaker is up to ♪ that's confident. but it's not kayak confident. kayak searches hundreds of travel and airline sites to find the best flight for me. so i'm more than confident. how's your family? kayak. search one and done. >>> let's check back in on alphab alphabet nicely higher after beating both on the top and bottom line up abo

zblooks hi there i'm contessa brewer.president barack obama spoke to a packed stadium in johannesberg to mark nelson mandela's 100th birthday he took aim at strong man politics, but did not presentation president trump by name >> look around strong man politics are ascending suddenly whereby elections and some pretense of democracy are maintained the form of it, but those in power seek to undermine every institution or norm that gives democracy meaning. >> mgm resorts has filed federal lawsuits against more than 1,000 las vegas mass shooting victims in an effort to avoid civil liability. it cites a 2002 act that affects companies that invest in protection or services to prevent terrorism. it argues it can't be held liable for the october 2017 deaths and that any claims must be dismissed >>> more americans are dying from liver cancer according to a report from the cdc. it shows liver cancer deaths have increased by 43% over the past 15 years. officials blame the increase on rising levels of hepatitis c among baby boomers t