thanks for being with us on cnbc i'm dominic chu.ff today. >>> today's top headlines. marly hall with the latest. >> good morning. a billionaire who befriended some of the world's most popular or powerful people is due in court today. jeffrey epstein is expected to face federal sex trafficking charges after he was arrested in new york on saturday law enforcement officials say his alleged crimes took place from 2002 to 2005 against dozens of underage girls at his new york city and palm beach florida homes. epstein made millions on wall street and counted among his friends former president bill clinton and britain's prince andrew, even rubbing shoulders with trump in the '90s. >>> and that is a land spout tornado that touched down near the new jersey turnpike. it briefly swept across a parking lot in mount laurel. it was confirmed as an ef-0 tornado with winds reaching 70 miles per hour, strong enough to flip a car fortunately there were no injuries. >>> a new poll finds nearly 1 in 4 americans say they never plan to retire. 23% say th

i'm dominic chu in for brian sullivan we have team coverage on all the manger sto major stories impacting markets. ylan mui has all things big credit technology. patrick palfrey is on set with me digging into the earnings story and eunice yoon will have the latest on the u.s./china trade talks. we started in ylan in washington with big tech and the juscrutiny they face. >> reporter: the review will scrutinize online leading platforms to see if they are harming consumers. in a statement it is said without the discipline of meaningful market based competition, digital platforms may act in ways that will are not responsive to consumer demands. the departments antitrust review will explore these important issues the review is separate but related to the doj's ongoing inquiry into whether google and apple are monopolies, it is not a formal investigation into any particular company but the department said if violations of the law are found, they will proceed appropriately. the review comes at the same time that congress is conducting their own antitrust investigation. cnbc was told they don't h

i'm dominic chu. brian sullivan is off today.ere is how your money and the global markets are setting up. stock futures now pointing to a slightly lower open. the dow will go down by 38 points if these futures losses hold into regular cash trading you can see the s&p off by 5 points the nasdaq down by 10. the bond market right now in focus ahead of that big jobs number in the united states. ten-year u.s. government note yields ticking slightly higher, just a hair below 1.97%. 1.78% for the two-year note yield. on the european side of things, worth noting what's going on with the european bonds especially the german ten-year government bund. you can see there that bund trading at negative 39 basis points negative yields, though slightly higher there the ten-year gilt in london 69 basis points joining me now is sven hendrick. we set up the global picture ahead of a huge jobs number coming up. what exactly is the market set up going into this do you expect any big market reaction out of today's jobs number >> the market obviously wa

. >>> good morning i'm dominic chu. the four main stocks we're watching this morning, it's about earnings and m&a, much more on these headlines coming up first here's how your money and the global markets are setting the day up stock futures indicating the dow will open up fractionally, just about 25 points or so. the s&p up by 7. the nasdaq just by 62 after stocks ended lower yesterday on fears the fed will not cut rates as aggressively as previously thought. for the week, the dow is the only major index still in the red. the bond market now is moving slightly stronger here that benchmark slightly higher, just a hair below 2.8% let us now go worldwide. on the asian side of things, the nikkei in japan down a half percent. the hang seng off two-thirds of a percent. the shanghai up a quarter of a percent. >>> in european trading, some marginal strength here to start the day out there. the german dax up 0.2% the cac in france, 0.1%. the ftse 100 in the uk up a quarter of a percent we should know peripheral european economi

i'm dominic chu in for brian sullivan the dow looks to be hovering around flat at the open. we would open up around 24 points for the dow if these futures gains hold into the start of regular cash trading. the nasdaq and the s&p 500 coming off all-time intraday record highs and closes. the dow is less than a percentage point away from joining that all-time high club as well. on the bond market side of things, we're watching yields as we do every morning here a tick lower ten-year note yields moving to 2.3% that's a sharp move to the down side the two-year note yield, 1.81% let's go worldwide a sense of positivity throughout the globe. in asia trading was generally in the green. the nikkei up by a quarter percent the hang seng up by a quarter of a percent a half percent gain for the shanghai composite on the european side of things, that green carries over to that trade. if you look at the major bourses there, the cac in france up a half percent the german dax flat. the ftse 100 in the uk as boris johnson takes on his role as prime minister, they're up bay tenth of a percent

i'm dominic chu. brian sullivan is off today. let's get you up to speed on market action.utures pointing to a calm open after record highs yesterday for the three stock indices. if these losses and gains hold into the opening bell, the dow will open down by 21 points. the s&p down by 1 point. the nasdaq composite up by a point as well. on the treasury side of things, watching closely to the ten-year yield. right now 2.09%. two-year government note yields, 1.84%. in the asian session, the nikkei off by two-thirds of a percent the hang seng up a quarter of a percent. the shanghai off by 0.2% in european trading we are seeing fractional gains in the major bourses for the time being. the cac in france up by 0.1%, as is the ftse 100 in the uk. the dax is now slipping just negatively but not by much as for the broader markets overall, wti crude up by a third of a percent the last trade there, $59.78 the dollar index, 97.11. and gold futures, 1,417.60, up a third of a percent we're keeping a close eye on facebook the company on the hot seat today on capitol hill. ylan mui is live

. >>> now here is your cnbc morning business repor g >d morning, i'm dominic chu.ing a college major can make a bigger impact on how much you earn in your career than deciding where to actually go to school. a report by financial news site pay scale ranks the highest paying majors for associate and bachelors degrees. at the top, petroleum engineering with average yeaayy pf $82,700 followed up by operations research and industrial engineers. also ,actuaries chemical and bio molecular engineers andublic accountant. with your cnbc morning business report i'm dominic chu. >>> it's a storm team 4 weather alert day today. widespread thunderstorms are expected this afternoon. some of them are likely to become severe with damaging winds and hail. y i'll sho your future weather and time out the threat coming up. >>> and right now, several problems including a delay on the red line one on 270.d u know comcast business goes beyond fast with a gig-speed network. mplete internet reliability. ad nced voice solutions. wifi to keep everyone connected. mo video nitoring. that's hug

dominic chu, stocks opening at record highs, but turning negative after president trump warned there's a long way to go on trade with china. but that's not the only international risk out there we'll tell you what it is and how to position your money or suggest how to position were we'll be right back. >>> markets taking a leg lower an president trump said we have a long way to go on china trade. but that's thought the only risk overseas bob pisani has been in my monitor and bob, do you think you can get through a report without moving your hands at all? because i have been watching you. i'm surprised someone doesn't get hurt standing near you >> wi have been doing this so long, we get excited about this stuff. there are some signs the global industrial economy is slowing down right now today, arrow electronics, they make electronic components and semi-conductors, preannounced lower earnings they cited lowering demands and an inventory correction. last week, another chip name preannounced weaker june sales they also noted an inventory correction and pricing pressures. also, last week,

i'm dominic chu at cnbc global headquarters. here are today's top businessth friday's strong jobs report is tempering expectations that the federal reserve will cut interest rates later on this month. the markets fell onrif the session. the dow snapping a four-day winning streak, while the nasdaq snapped a six-day win streak. on today's watcheport >>> there is a new way to return items to amazon, without having to go to the post office or to schedule a pickup. starting today, kohl's will start accepting amazon returns at all of its stores nationwide. kohl's tested the program earlier this year in chicago, los angeles and milwaukee. customers just have to go to amazon's online return center, pick the kohl's drop-off option and get a special bar code, bring the items to a kohl's store and kohl's will pack them, label them and ship them all back for free. >>> and google could soon add a play and a pause button to its chrome browser, that could make it possible to play or pause video from any tabn browser. the feature may be handy f

i'm dominic chu at cnbc global headquarters. here are your top business headlines today. wall street is set to open modestly higher this morning. stocks did fall slightly yesterday as investors await that big decision from the federal reserve bank this afternoon. the fed is expected to cut interest rates for the first time since the financial crisis. what it's aiming to do is head off any potential slowdown in the u.s. economy. now an interest rate cut could result in lower borrowing costs for consumers and businesses on all types of loans but might also mean lower rates on your savings accounts as well. >>> shares of apple are higher after the company reported earnings that beat wall street forecasts even as sales of the iphone continue to slow down. in fact, it is the first time since 2013 that the iphone did not account for a majority of apple's overall sales, but the company has offset that weakness with growth in just about everywhere else, growth in ipads, macs and services, which includes, by the way, the app store and apple pay as well. apple also announcing it th

to start we have steve liesman who will tell us what is ahead for the central bank, but first dominic chuas the outlook fks stoc >> reporter: after a blistering run for stocks in the first half of the year, here are three things to watch as the markets head bnto thek half of 2019. first, trade. deal or no deal? despite the fits and starts over trade negotiations between the u.s. and china,e investors h largely been optimistic that a resolution will come to pass, but what happens if things drag out? and we're not even getting into what happens if america decides to stir things up with other trading partners around the globe. cond, the fed. to cut or not to cut? that is the question. at this point markets are largely expecting that the economic data will lead the federal reserve to ease financial conditions by cuttite benchmark rest rates. will it push the stock market to record highs or signal weakness ahead? and third, mega cap stocks, specifically those in tech,ic commion services and retail like microsoft, amazon, apple and facebook to name a few. they've had a lot of ionluence he marke

i'm dominic chu. brian sullivan is reporting from opec in vienna we'll hear from him in a moment.irst let's get you up to speed on what's happening with the markets. futures pointing to a modestly lower open right now if these futures losses hold into the start of regular trading, the dow would be off by 52 points. the s&p down by 5. the nasdaq down by 23. treasury he yieyields also in fa global yields take a leg lower the ten-year 2.01% here. two-year note yields, 1.77%. let's go worldwide asian trade probably a little bit more mixed the nikkei in japan up by 0.1% the hang seng up over a percent. the shanghai in mainland china just about flat. the kospi in south korea up. in european trading, as you look at the dax, it's off by 0.1% the cac in france flat the ftse 100 up by a third of a percent. trump says trade talks with china which stalled out in may have already begun following his meeting with chinese president xi jinping at the g20 summit this past weekend. speaking in the oval office yesterday, the president says renewed talks are being held by phone. he says any trade dea

. ♪ >>> good morning i'm dominic chu.his is a live shot of our nation's capitol where just hours ago the white house and congressional leaders averted a potential government shutdown and default on our debt reaching a two-year deal to lift the debt ceiling and raise federal spending levels. president trump tweeting the news late last night calling it a real compromise, much more on that big deal coming up. here's how your money and the global markets are setting the day up ahead the dow will open higher as investors away results from a slew of companies. the s&p by 8 points, the dow jones, 82. coca-cola, biogen, lockheed martin, united technologies among the many companies reporting results later on today. you can see one of the busiest days of earnings so far. the bond market is moving just slightly here with ten-year note yields around 2.06% a hair higher on ten-year note yields two-year note yields, 1.833% as well let's go worldwide in the asian trade. we did see a move higher there as well. the nikkei in japan up bay

i'm dominic chu.his morning futures are pointing to what looks like a lower open on wall street following back to back losses for all of the major indices.russell 2000 coming off its worst day in two weeks now down more than 10% for those small caps from its recent 52 week high. and as you can see here, dow opened down about 118 points if the future losses carried through into the opening bell for regular 2r5idin trading. nasdaq off by about 55 bond market still a focus. around 2.07% the two year treasury note yield covering right around 1.91% as well let's thousanow go worldwide in the asian trade, nikkei a bit of a standout there up by with 0.01%. and the hang seng and shanghai composite are off. and in the european trade, slightly negative sentiment carrying through but not for the german dax which is down even more than the other indices off by over 1% we'll get to one of the main reasons why that is happening with the german markets just ahead. the dcac off also as for the broader macro markets,

>>> welcome back to the exchange, i'm dominic chu. lyft recession, on the heels of bloomberg headlines saying jon mcneill, the chief operating officer has departed the company. we have a call to see if they will respond that's the reason why the shares are lower. andrew, this is a pretty high profile departure because jon mcneill came to lyft back in march of 2018 to take over those operations on the operating side so we'll keep an eye on those shares that's the reason they're lower. >> dom, thank you for that as we try to read the tea leaves there. and looking at shares at beyond meat lower right now. head to the company's earnings after the bell, the stock up 800% since the ipo what do investors need to hear today? aditi roy joins me live from san francisco with perhaps the answer. >> i hope so that stock, of course, up more than 30% last week alone leading up to earnings the street booking for revenues of just under $53 million, which would mean top line growth of more than 30% from last quarter. now, top line growth will no doubt

dominic chu. grasshoppers are green but the market is red. it's not red by that much. look at this near not so far from the worst levels today off by about one-third of 1% the nasdaq off by almost half of one percent. netflix a big part of that down move today we'll talk about that later on in the show. one area of general positivity with regard to technology and communications services, check out semiconductor stocks this vaneck ticker is up over a percent today. near its best levels of the session. if you take a look at this etf, it's up 42% since the lows that we saw back in december of last year, up 19% over the last couple of months and we are seeing about almost a three-day winning streak here for this etf semiconductors, a positive sign in this down market. if you're looking for the stock of the day, the best performer in the s&p 500, it's tobacco on the international side of things phillip morris international, up 10%. look at that stock surge up here earnings better. sales better forecast better. and all because of, or not all because of, in large part that sm

griffith, leslie picker, happy belated birthday, and dominic chu.yeast foreipo proceeds in nearly two decades and everybody's benefitting. companies have so far returned 20% on average >> not too shabby. what's interesting is the superlative here i think a lot of people are starting to notice that this is the highest amount of proceeds raised in the first half of the year since >> was it 90 -- >> 2000. and so i think people are saying everything's going up, everything is working. i mean, there are some exceptions here. we see some smaller biotech companies that are in the red for the year, for example. or uber and lyft, exactly, which represented about a third of the proceeds for the first half of the year, by the way so people have definitely lost money. but i think there is this question of are investors being discerning enough when they are looking at the ipos or are they just saying there's momentum behind these things, i am getting in while the going's hot. >> yes, it's a lot of money raised, but the number of deals out there significantly belo

here with our takes and to break down the headlines, kate rogers, dominic chu and morgan brennan welcomeody first topic is apple's tim cook lashing out at that story published by "the wall street journal" that alleged that apple's design chief made the decision to leave the company after he grew frustrated by the greater focus on operations under cook cook said the story is absurd. a lot of the reporting and certainly the conclusions just don't match with reality to which we would simply also say this now makes it a second day story, guys, as well for what i'm sure cook would like to see go away. >> this is for the longest time it's been about hardware we know that tim cook has been tilting towards software and services that's the reason why they're making such a big push to get the apple pay stuff going up, itunes, the whole ecosystem there. you wonder whether or not this was just a situation as apple matures as a hardware company if it can be that next step that gets somebody in that role to design things that are going to be even more blockbuster than the ipod itself or the iphone. >>

robert frank, seema mody, and dominic chu, and we are going to talk beyond meat let's just wait tillget there. but first let's talk irobot. tariffs from the u.s./china trade war will weigh heavily on revenue. the company lowered its expectations for 2019, guys and the real question is, is this a barometer telling us something about the economy? or is it, hey, the company looking for excuses type of story? >> well, this is a company that is a classic u.s./china trade war loser. not only did it talk about the tariff-related cost but tariffs are also, they say, pushing the economy in china to weaken even further. so that's hurting demand for a lot of their products. this is one of those companies that is taking a proactive approach to move some production out of china they're diversifying moving production to malaysia by the end of 2019. but here's the catch moving production is expensive and they say expect prices to go up >> and prices to me is the key here i wonder to what extent it is an excuse their new model of the roomba is $1,100 >> but in a way. >> that is a lot >> and big inno

dominic chu at headquarters.ks off, matt and our own mike, migrated down to new york stock exchange. good to see you both matt, start with you matters, context earnings season happens, correct dom mentioned 80% of companies in s&p 500 warned a lot of estimates are coming down going into earnings season and in the month of june most analysts downgraded most number of stocks in 2017. seens people are bracingal themselves for a weak earnings season what do you expect in terms of market reaction to earnings? >> interesting, because nobody's focused on earnings recently because of the, of course, what it's been going on with the trade deal and with what the fed may or may not do. the one thing is that they always seem to lower earnings estimates enough just to be beaten so that looking for slightly lower earnings for the quarter, slightly down earnings. probably get beaten. they beat them every quarter the key is going to be the guidance the guidance is always important but even more so this time around because right

dominic chu joins us to look at some of the biggest stock movers good morning again >> we get ready forre tied to recent releases. we'll start with shares of u.p.s., lower around a percent or so. roughly 3,000 shares of premarket volume part of that is from analysts to a prior buy, after a 24% run of the stock year-to-date they passed the target price they have tempered expectations from u.p.s. management, about the challenging environment. they are looking at a lower entry price to get back into the shares >>> then, there are shares of starbucks which are lower around a percent or so. the coffee giant after a well-received earnings report. it goes to a neutral, to a prior overweight they say voluatialuation becomea stretch. we'll watch those shares, as well and apple, up fractionally and over 60,000 chairs the giant reports earnings reports tomorrow they have upped their target price to keep the buy rating they are low expectations for iphones in the quarter and later on this fall they say interestingly, that july and august, are historically, the best months to buy apple stock for thr

let's dominic chu.have a bigger effect on the dow, that's 3m, shares lower by over a percent premarket, the conglomerate behind scotch tape to filters, downgrade to a sector perform from prior outperform. the target price to 176 from 207. they cited their recent string of guidance cuts and continued weakness in china and automotive and electronic segments. they reiterate that 3m trades compared to peers. shares of square up fractionally over 10,000. the processor gets an upgrade to market perform from a prior under perform. they think the negative case for that stock that led to their janua janua january 29 downgrade played out. they don't see another potential negative catalyst on the horizon. end with shares of snap, which are lower by around half a percent, 20,000 shares premarket, despite an upgrade for target price by credit suisse, to $18 from 15 the parent of the social media company snapchat, they keep their outperform rating citing better growth trends and advertising markets and platform costs

i'm dominic chu.ay for bank earnings bank of mellon, the shares are really quiet which after they do everything from trust keeping to recordkeeping to investment management services posted better than expected revenues on revenues very much in line with estimates. both profits and revenues were lower at the same time last year next up our shares of pnc financial which are quiet, relatively premarket after one of america's biggest regional banks posted better than expected profits and revenues. it was helped along been by an increase in the loan portfolio as demand for borrowing picked up there so then we'll end on shares of bank of america which have been moving between gains and losses premarket around 200,000 shares of premarket volume. up now or down fractionally. they saw strength in the retail banking operations and guys, it continues that trend we have seen early on this season about relative strength in the u.s. consumer andrew, back over to you. >> okay, thank you for that. >>> for more on ban

i want to get a sense of what's going on from dominic chu along with neil irwin.ns were 160, 170,000 jobs created in the month of june, well above that with the number we got this morning from the department of labor. >> that's right. america added 224,000 jobs for the month of june, way more than that 165,000 consensus that they were looking for. the unemployment rose to 3.7% but that's because more people decided to enter the workforce and actively seek a job. that means it counts towards those unemployment numbers. and wages are still growing over the same month period and the same time last year but at a slower pace than economists were looking for. the job gains were pretty broad based. you had the leaders in hiring coming from places like professional and business services, also healthcare, transportation and logistics, also construction. we should point out that job gains in both april and may that were revised lower by a combined 11,000 jobs over the course of those two months. but this is generally being viewed as a good report and therein lies the rub. b

chu. quietly, ever so effectively, microsoft is winning the corporate cloud game. but in an age where brands like apple and google dominateant to know — do you still use microsoft at home as well as work? get in touch with us using the hashtag #bbcbizlive. hello and welcome to business live. we start with the only one tech giant that is valued at more than a trillion dollars. it's not amazon or apple, but microsoft. and it has just proved again why it is the world's most valuable publicly traded company. injust three months, this giant brought in almost $34 billion in revenue. about the same amount as the value of cyprus‘s entire economy. and unlike a number of the tech giants, this company is actually making money. in fact, $13 billion of profits. how? office software and cloud computing are proving to be the big money—spinners for microsoft. the likes of microsoft 365 and the azure business in particular. what's powering all of this? an unexpected rise in the number of new desktops and notebooks being sold around the world. they're up by almost 5%. why? companies are trying to replace old machines still running on windo