we are live here at delivering alpha in new york city david faber joining us on the set. y quick now also with one of the big keynote speakers welcome lady and gentleman. >> we were just speaking with david ruben stein the cofounder and chairman ofcal carlyle group. to give a little bit of an example of how this firm has grown over time, this is a firm that david cofounded back in 1987 at that point they had $5 million in assets under management today they have $201 billion in assets under management. if you want to talk about delivering alpha, there you have it david we talked about a lot of different issues, what's been happening with the markets but we heard this morning from larry kudlow and he said he doesn't see any signs of a recession on the their what do you see? what would you be watching for to show you that we could be facing a downturn. >> it's always tempting to say i see something that somebody else didn't see because people will think you are smarter than they are. i have been saying that we are going to have a recession but i don't see it coming. the compa

joining us right now to continue this conversation, cnbc contributor and our own david faber. you have act this meeting coming up? >> a bit i think the board, andrew, is taking this very seriously i think they're being advised to put the interests of the company ahead of any interest they may have in mr. moonves' future. you'd expect them to get that advice, of course. do what's right for the company. protect it, protect yourself potentially. but that's not -- that's pretty serious advice one would expect if they do follow it, they have a hard time seeing in some ways how mr. moonves at the very least is not going to be pushed aside pending investigation if not just going to have a hard time keeping his job. >> jim stewart, i think there's two issues here. "a," does he keep his job long-term. and in the immediate term, does d. -- do they suspend him pending the investigation? >> in other companies they do suspend pending investigation. maybe there is another side of this story he made his statement in the article. but it's certainly --my readin of it raised very serious questi

. >> i think the story underscores how brilliant david faber is i had to read the story a few times. david understands it look, from the standpoint of managing risk and pulling off positions, vmware that continues to be b a solid story as long as the i.t. spending is there and it is there. it's evidence and vmware is going to be okay as far as dell coming back, it's a good thing if they continue to diversify the story. >> he made such a -- he said screw it i'll buy it myself he did made a fortune and he's one of the best ceos in history i'd go with him. >> tesla rising today after meeting its goal of manufacturing 5,000 model 3 sedans in final week of the second quarter finally got there, josh brown. >> ever see that movie with michael keaton, guangpu how, from the late '80s they run a yus auto production plant and the only way the plant will let them stay open is if they spend the goal so they spend the whole weekend and overnight making these cars. they're throwing a party for manufacturing an amount of car that is ford makes every hour? hard for me to get excited huge reversal intr

let's touch on the market, too, because david faber, my colleague, was talking about that as well the has retaken 25,000 for the first time in a month. it's been a new high yet again for the nasdaq and the nasdaq 100. today. we're watching the banks and i'd say fair to say dispoindi dispoints results from at least the stock reaction from some of those reports. so we continue to follow really all of those developments. we have steve yet? we're going to jump to steve because the scene is quite a juxtaposition from what we were seeing in trafalger square where you had protesters right in the heart of london even as all this is is taking place in a more genial setting ahead of tea. but this london, the it's a far different story. part of it perhaps coming on the heels of the explosive interview the president gave last night to the sun in which he criticized prime minister may on brexit. she ignored my advice, the president said he praised boris johnson, saying he would make a good prime minister also some choice words for the mayor of lond. today, a bit of different tone with the news con

thank you courtney reagan back at hq >>> back to midtown manhattan to check in at delivering alpha david fabertting down with the blackstone president and coo jonathan gray. let's take a listen. >> will it happen fast i don't think so there are a lot of big issues at stake. and there will be some volatility along the way but i do think if you look at the broader trade issue, the same underpinnings exist it sounds like there's probable more progress on the nafta front, maybe behind that europe and china given the scale of the issues is behind that. but if you step back looking at it from a long-term perspective, we believe there should be some resolution here. but there is, obviously, risk for all of us as investors. >> right all right. but if it gets bad before it gets better, how do you -- i mean, obviously we don't know what is going to happen, but how do you view it from blackstone's perspective? >> well, for a lot of businesses that are domestically focused, the impact is less for businesses in the service area, less of an impact. but you start thinking about folks in the global supply cha

regular on earth amoved the deal china wouldn't sign on they kept saying there were antitrust issues david faber look add it. we couldn't find one the chinese did drag their feet long enough to cut typical transaction. finally last wednesday, the two companies blew past yet another internal deadline and qualcomm gave up, sending nxp's stock tumbling back to the single digits the very next day xp reported quarterly earnings and the numbers not so hot the company delivered a top line miss the problem, some of it came down to the ban on selling components to zte. and that's that big chinese cell phone maker which fortunately has been now lifted, right there is no more ban anymore part of it also had to do with supply chain components in the auto division. once again the stock got slammed. but then something funny happened pretty much overnight five different analysts decided to upgrade nxp which stopped the stock's decline in its tracks. then the ceo sat down with my partner on squawk. fabulous interview i almost wish i wasn't on vacation because the interview was so bullish i would have ripped up

i struggled when i did my mad dash with david faber. i couldn't find out what the heck was wrong it was an overreaction to a misunderstood quarter was definitively better. was it perfect some of the gains came from incredibly aggressive buyback which moved the needle of the bottom line. there were some one-time positives that did distort the earnings per share too but i kept looking and looking and looking to see what people hated given that stock had already lost 19% for the year, and i couldn't site. 3m was too heated. the stock started ramping furiously and only closed up $1.84. >> up! >> ♪ hallelujah >> that's more than a 10-point stream or to put it another way, the morons who sold 3m down refused to wait for the conference call to see how 3m was really doing from the top of the range for the full year forecast, but what mattered was an incredibly strong return to organic growth. that's the metric we were all looking for which is why the stock ended up bouncing so hard. with salesforce we see the reverse. the stock was coming in ho

the next day or two days later, david faber came out and said they have no plans to cut the dividend.eeks after that the ceo, john flannery came out and said they are going to adjust the dividend, as we said and the real question i think now, going forward, is how much they're going to cut the dividend and here is the -- ashley: so where is the good news in any of this? charlie: the good news is they're getting it down to a core of profitable business. bad news is they still have a cash flow problem and unfunded liability in their pension. remember ge used to be a much bigger company. they're still big but much bigger with hundreds of thousands of ex-employees -- ashley: ge capital. charlie: on top of that too they still have that overhang so you have cash flow problems, you have the, you need to sort of grow the businesses. they think they're getting it down to a core where it can grow but before it gets there, you need money and i think the only way you can get money is through cutting the dividend more and i think that's what this shows that a lot the reason why people blowing out

speaking with david faber just about ten minutes ago on the stage. scott, back to you. >> leslie, thanks so much. jump back to you as necessary, of course. leslie here at delivering alpha. what do you make of the commentary, steve, out of delivering alpha already from some notable speakers? >> trade continues to be the center of everybody's mind, and it should be, because it's potentially very damaging. surprising is kudlow, close as he is to the president, we all know him, that the market traded not just higher, but significantly higher after those comments, because you can only conclude that trump is going forward with the tariffs so i remember the days, long ago, maybe a week, when the market would trade downward. so that, to me, is kind of a surprise that the markets are as strong as it is, but it's a legitimate focus i think everybody should be worried about tariffs and also think it's the right thing to do. >> i take the other side i think we'll get closer to midterms you'll see red states looking more purple. this is a president who's very cap

i'm david faber along with jim cramer we're live from the new york stock exchange carl as the morningoff we'll get a look at futures. you can see i don't know i guess we're going to be -- what are we going to be, jim >> mixed >> mixed yeah mixed. european markets, though, have been open. we can tell you what they're doing, including spain and italy. almost everything down expect for the ftse in the uk the 10-year is climbing a bit from last week we're at 2.982 4.1% gdp and there we are crude above $70. we'll talk to jim about that >>> we'll get to the road map this morning it starts with media and leslie moonves they're discussing the misconduct allegations against the ceo. >>> and cat's record quarter the industrial bellwether pumps up the full year forecast. >>> and facebook's face plant. high flying tech stocks hit some head winds certainly last week but facebook and twitter we'll talk to jim about whether there's still room for growth in the faang names. yes, he coined faang he knows a thing or two. welcome back, jim. it was great, you know, pinckney days you want. that was well done

i'm david faber.e're live from the new york stock exchange let's get you started with a look at the futures. you heard joe talking about it we're looking for a lower open this morning european markets, well, they haven't been faring particularly well lately. nor have the emerging markets given all the talk of tariffs and trade wars you can see italy, the largest looser thus far this morning ten year note yield. crude oil moved up, of course, over the last few weeks. you can see it there is the 10-year note yield which has come down. let's get to our road map this morning. it starts with the stocks. they're on track for what ameers to be at least a fairly sharp drop this morning on the first day of trading for the second half global markets, also, pulling back, as you saw amid the rising trade tensions >>> president trump has a message to europe. you're as bad as china the eu warns washington against imposing new car tariffs >>> and dell on track to be a public company michael dell will join us this mo

i'm carl quintanilla with jim cramer and david faber futures are lower as the u.s. trade rep ups the ante preparing an additional $200 billion on chinese good the president with a feisty exchange this morning at the nato summit in brussels. europe down about a percent. also, prices up 3.4 year on year that's the hottest in seven years. we'll get cpi tomorrow the trade war fears spooking the street stock futures set to tumble at the open as the trump administration unveils billions of new tariffs on chinese goods. >>> trump slamming germany in today's nato summit saying it's totally controlled by russia >>> and 21st century fox increasing the bid for skyy. what is next battle with the parent comcast >>> stocks are falling around the globe are trade war concerns on the front burner. the u.s. is preparing to slap 10% tariffs on another $2,900 billion of chinese goods the president tweets i'm in brussels but always thinking about our farmers. soybeans fell 50%. farmers have done poorly for 15 years. other countries trade barriers and tariffs have been destroying their b

david faber reporting that our parent company is highly unlikely to counterfor fox's assets comcast willad focus on bidding for uk broadcaster sky. and sources telling cnbc that goldman sachs will name david sol man as the new ceo he is currently the president company president and. >> let's get to the stick big story of president trump holding a summit with russian president vladimir putin amon javers is live in helsinki, finland with the details of the meeting where it take place. amon >> jae, michelle it was a news conference for the ages in helsinki, finland with vladimir putin and donald trump making a number of statements intensely scrutinized in coming days the first was vladimir putin who was asked whether or not he supported donald trump back during the 2016 election here is what he said >> did you direct any of your officials to help him do that? >> yes, i did. yes, i did because he talked about bringing the u.s. relationship back to normal >> vladimir putin there saying yes i did. yes, i did when asked if he supported donald trump and if he directed any of his officials to hel

i'm david faber along with jim cramer carl has the morning off a look at futures.s you can see, we're heading for what appears to be a higher open european markets were playing along. let's take a look how europe is faring green across the board no huge moves. some nice ones there ten-year note yield. got the employment number on friday down a little bit. 2.851 is where we begin this week you can see oil. the story last week, of course, having passed briefly november 14 highs it's at 73.out >>> the road map this morning. it starts, this morning, as we do with stocks they've been shaking off concerns at least surrounding trade and brexit the dow set to rise more than 100 points a the open. nasdaq and the s&p look to be well positioned for a good start to the week. plus, the trade stumble. shares in the world's fourth largest smartphone maker off to a tough start in the hong kong debut. >>> so long straws starbucks planning to scrap plastic straws by 2020 all right. stocks are poised to open higher this morning after the s&p experience what was the best week in a mon

i'm carl quintanilla with jaime cramer, david faber at the stock exchange cpi, the hottest pace since. the president's just landed in the uk dealter, comcast, twitter, netflix all in the news today. 10-year around 2.86% futures point to a sharply higher open as china trade wars ease >>> the president, brexit and a british royal visit, president trump arriving in london moments ago to visit the uk for the first time since taking office >>> comcast raises its bid for sky as britain gives the green light for rival fox's bid in the battle for that major european tv prize >>> stocks are set to open sharply higher a day after that sell-off due to trade war fears ending a four-day win streak consumer prices up .1 in june, from year-ago levels, prices have increased at the fastest pace since 2012 and on core, since 2008 >> we tried to figure out at this juncture how many rate hikes we're going to get and a number like this is consistent that we'll get more rate hikes will it really help? i don't know you see underneath in the crawl airlines come by the airline numbers are all weaker that's di

cramer has the morning off carl quintanilla here with david faber. boeing is down 3% on the charge. a big day for trade as the yield curve visits the white house gm cuts guidance on higher tariffs. europe is mixed. 10 year around 2.94. facebook's moment of truth social media giant set to report tonight after the bell capping off a big day of corporate earnings, including ups, and coke. >> speaking of coke, crow james quincey will be joining us. >> and stock futures, of course, in focus boeing is falling on weaker than expected guidance. gm cutting its full year profit forecast shares also sinking in the premarket. >> and president trump sets tense trade talks. we'll talk with the head of the world trade organization about that and more. >>> it's an important day in the auto sector. two auto giants reporting earnings both cutting their outlooks and sad news out of fiat chrysler. a lot to get to with phil who has been busy working early this morning in chicago good morning, phil. >> good morning. we start with the news from general motors the new guidance for a full year earnings comi

i'm carl quintanilla with jim cramer and david faber stocks approach key resistance levels q 2 earningsachine revving up with pepsi marginal gains in europe this morning. watch the ten year 2.87 as we await the bank earnings on friday >>> earnings season is underway and futures pointed to continue gains at the open. >> plus, euro trip president trump delivering a trade warning ahead of the nato meetings with long time european allies >>> and pepsico topping estimates. the cfo hugh johnston will join us >>> stocks looking to maintain the upward momentum. major indexes coming off their sixth positive session at seven. banks helped lead the rally. facebook hit a fresh record high is this about no escalation in trade worries? is it about people covering shorts ahead of earnings >> a bit of both i think the president has been preoccupied with picking a supreme court justice and now going overseas i think there's a sense when he does these things, he's not focussed on trade. i would be careful with europe he said no many bmw or mercedes. that's the only risk to the trip pepsico is a microcaus

i'm carl quintanilla, with jaime cramer and david faber of the new york stock exchange. >>> you justeard comcast dropping its chase to focus on sky. europe is mixed 10-year near $2.88. china firing back at comments larry kudlow made at delivering alpha yesterday. steve bannon also not pulling any punches on trade we'll make sense of what all the comments told us yesterday >>> comcast officially drops its bid for fox saying it will instead focus on the acquisition of sky we'll tell you what that means for the players overall in the media industry >>> some big tech names on the move this morning. we'll break down what's driving all of the moves and there are a bunch of them. comcast kicks us off david has that to start us off >> not a surprise, guys. we've been talking about it here we spent a lot of time on it on monday when we reported it was highly unlikely comcast would follow through on any attempt to compete with disney in terms of a higher bid than the $38 deal that disney already has to acquire those fox assets making it official this morning, interesting -- i've tried to make

i'm carl quintanilla david faber at the new york stock exchange solid morning for streelz as we get raisedtrying to see how much tech can hold in after a few down days as the fed begins a two-day meeting and apple earnings tonight busy session, boj saying they are going to be more flexible. chicago pmi 655 the best number since january. as conference board comes to the wires. let's get to rick santelli in chicago. >> the litany of data of continues. we're looking for our july read on the conference board consumer confidence expecting a number north of 125 in the 126 area we're waiting our last look -- here it is, 127.4. 127.4. sequentially higher than 126.4 the last read. boy, that's another very, very solid read 127.4 is the second best number of the year going back to february, which was the best number of the year that was 130 and change. that was the highest read going all the way back to thanksgiving of 2000. so this is an excellent read to is chicago and of course we've seen markets move a buiit the dollar index on the last number crawled into positive territory. want to pay attentio

david faber is delivering alpha and going to be there. this was a heck of a way to dick off, david. >> yeah, it was interesting listening to kudlow. i think listening to our experts chime in, of course, carl, in terms of what they thought was important. from my perspective, it was the language used to describe the trade dispute with china which i think differed in tone with how he was describing relations, at this point, with europe. and certainly with mexico. it is seemingly, at least, the possibility of real progress it didn't sound that way on china, to me i'm not sure what you thought. >> no, he said xi doesn't want to make a deal it's holding the game up he could end the tariffs this afternoon, if he would come forward on issues like intellectual property theft and technology transfer, which he said china has been unresponsive to. >> yeah. exactly, sara. and, you know, it'll be curious to see if we get a market response at all to those comments from kudlow jim asked him why not go to the full $500 million in trade, you know, in export

. >>> welcome back to "squawk on the street," i'm sarah eisen here with david faber at the new york stockr into the trading session and we've got a pretty strong rally. dow up 200 points. technology and materials commodities are real standouts in the session but technology helping the nasdaq gain 1%, thanks in large part to google parent alphabet and those blowout earnings we got last night got some breaking news here on pepsi co the company announcing right now that it is taking over the refreshments contract at madison square garden. remember, coca-cola has been msg's beverage company going all the way back to 1910, some 108 years. pepsi will now become the exclusive nonalcoholic beverage and snack partner across all the msg properties ceo and msg ceo james dolan announcing it together this morning at the garden, guys, in new york obviously, no financial terms are disclosed on this. we don't really know the size and scope, but it is a big deal. and it shows you the soda wars are alive and well for pepsi to swoop in and take this long running coca-cola contract not just the garden, but i

i'm david faber along withsanto.e are live from the new york stock exchange carl and jim both have the day off this day before independence day. the stock market closes at 1:00 p.m. eastern ahead of the holiday. let's give you a look at futures for what will be a shortened sessions you can see we are looking at an up open, a half hour from now. european opens have been open for quite some time. let's take a look at how they're faring, all positive across the board. actually, a fairly strong showing there for germany's dax. the u.s. bond market, closes 2:00 p.m. eastern. and that brings us to the ten-year note yield, 2.875, and crude oil continuing higher, approaching 75 bucks a barrel. >>> trade war anxieties continue to be on the rise. u.s./china trade tariffses set to kick in this week as president trump continues to fix the worst trade deals ever made. >> and stock futures pointing to a rally at the open. amazon, apple, netflix, other tech stocks poised to give the market a boost again >> and facebook fallout? the

i'm david faber along with jim cramer we're live from the new york stock exchange the opening bell rang about 13 minutes ago. we'll get to that in a moment. you've been listening to almost an hour long press conference from president trump and uk prime minister theresa may anything stand out to you from the comments, of course, focussed, as you would expect on nato and brexit. on the president's interview with "the sun" that took place yesterday. in which he criticized the brexit plan that was pursued by the prime minister >>well, look i think he walked to back to harsher comments. i think there was a bit of a surreal aspect to that he's saying that's not really what i said. even though it was what he said. but, at the same time, there is clear that you can say, wait a second it's out of context it's a special relationship. >> and he's heading to meet with putin in the not too distant future i think monday. >> yeah. the end of the press conference was focussed about the pipeline. something you're familiar with in terms of natural gas moves around this planet the one, of course, between

i'm carl quintanilla with jim cramer and david faber stocks approach key resistance levels q 2 earningsnk earnings on friday >>> earnings season is

i'm carl quintanilla with jim cramer and david faber futures are lower as the u.s. billion on chinese good the president with a feisty exchange this morning at the nato summit in brussels. europe down about a perc

i'm david faber along with jim cramer carl has the morning off a look at futures.ding for what appears to be a higher open european markets were playing along. let's take a look how europe is faring green across the board no huge moves. some nice ones there

i'm david faber along withsanto.nge carl and jim both have the day off this day before independence day. the stock market closes at 1:00 p.m. eastern ahead of the holiday. let's give you a look at

i'm carl quintanilla, with jaime cramer and david faber of the new york stock exchange. >>> you justropping its chase to focus on sky. europe is mixed 10-year near $2.88. china firing back at c

cramer has the morning off carl quintanilla here with david faber. boeing is down 3% on the charge. trade as the yield curve visits the white house gm cuts guidance on higher tariffs. europe is mixed.

i'm david faber.ew york stock exchange let's get you started with a look at the futures. you heard joe talking about it we're looking for a lower open th

i'm carl quintanilla with jaime cramer, david faber at the stock exchange cpi, the hottest pace sinceanded in the uk dealter, comcast, twitter, netfli