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distributed by invesco distributors inc. containing this information. read it carefully.isn't silver suits anit's right now.s, think about it. we can push buttons and make cars appear out of thin air. find love anywhere. he's cute. and buy things from, well, everywhere. how? because our phones have evolved. so isn't it time our networks did too? introducing america's largest, most reliable 4g lte combined with the most wifi hotspots. it's a new kind of network. xfinity mobile. >>> good morning it's the first full trading day of the second half of the year the dow set to extend its run but the nasdaq under pressure. the full rundown straight ahead. >>> president trump takes off for his second foreign trip. first stop poland. >>> plus calling all baby boomers and gen-xors a new report says you might be facing a frightening retirement reality. it's wednesday, july 5th, 2017 the second hour of "squawk box" begins right now >>> live from the beating heart of business, new york city, this is "squawk box." >> how many kits does she have >> we could play katie perry all day today

distributed by invesco distributors inc. >>> breaking news this hour.e jobs report is minutes away >>> the numbers, the instant market reaction and what the payroll release means for the feds, straight ahead >>> calling all language buffs we'll tell you why translaters are in high demand "squawk box" begins right now. ♪ >> live from the most powerful city in the world, new york. this is "squawk box. good morning and welcome back to "squawk box" here on cnbc. the other animals are gone, but we are still here, right live from the nasdaq market sight. you thought that monkey was cute >> really cute, but then he got close. >> i know, i like my face. i would like to keep it. it's jobs friday we are less than 30 minutes away from the big release forecast calls for an increase of 174,000 that's up from 138,000 in may. unemployment is expected to hold steady for a second straight month at 4.3%, a 16-year low let's get a check on the markets. the dow is up under two. s&p under 2 and the nasdaq up just over two points we are watching crude prices that have been w

distributed by invesco distributors inc.e price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. >>> here's what's coming up on the show >> when the money is coming your way, you don't ask any questions. >> frawe have just one question. how much will netflix move next week plus, microsoft just hit an all-time high. but if you missed the move, we'll show you how to buy the stock for less than a buck no, we are not dan nathan will break it down. and he correctly called the

distributed by invesco distributors inc. containing this information. read it carefully. (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring) the power of a low volatility investing approach. the power of smart beta. power your client's portfolio with powershares. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc. >>> welcome back republican senator ted cruz's health care proposal is gaining some traction among conservatives and could save the senate health care bill. our kayla tausche has more kayla? >> reporter: kelly, cruz along with utah senator mike lee are among the lawmakers with the primary goal of lowering customers' premiums and to that end they have offered the consumer freedom component which relies one obamacare plan on a state exchange would be allow to sell any other plans complaint plans would cover pre-existing systems and the so-called freedom plans would be offered for health

distributed by invesco distributors inc. or a little internet machine?lly. [ phone ringing ] hi mom. it makes you wonder... shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. [ laughing ] so all you pay for is data. see how much you can save. choose by the gig or unlimited. call or go to xfinitymobile.com introducing xfinity mobile. a new kind of network designed to save you money. >>> we're back i'm getting some details on this 01b thing. the 01 visa is for individuals -- or for an individual who possesses extraordinary ability in the sciences, arts, education, business or athletics. then it ends with or in the tv industry it does. it does. or in the tv industry. you've got to be really talented in something useful or if you're in tv, you get one too. >> well, that's lucky that was added at the end or else i wouldn't be here, that's for sure. >> i was reading wow, this describes you exactly. extraordinary ability, 6'5" -- >> i don't

distributed by invesco distributors inc. containing this information. read it carefully. can we at least analyze customer can we push the offer online? legacy technology can handcuff any company. but "yes" is here. you're saying the new app will go live monday? yeah. with help from hpe, we can finally work the way we want to. with the right mix of hybrid it, everything computes. or a little internet machine? [ phone ringing ] hi mom. it makes you wonder... shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. [ laughing ] so all you pay for is data. see how much you can save. choose by the gig or unlimited. call or go to xfinitymobile.com introducing xfinity mobile. a new kind of network designed to save you money. >>> welcome back president trump is wrapping a two day visit to france today attending a bastille day parade with president macron right now actually for an assessment of the trip, let's bring in james rubin sir, thank you for joining us. >> ha

distributed by invesco distributors inc. >>> welcome back to "squawk box.zon wrapping up its day of deals. prime day, courtney regan is here with a prime day score card >> i'm done shopping i hope everyone else is. 30 hours is definitely enough. it did run for 30 hours this year but the deals ended early this morning. but by late tuesday amazon was already telling cnbc that it was on pace to be the biggest global shopping event in amazon history. with u.s. prime members ordering more than 6,000 deals every minute and its small business sellers saw their global unit orders increase 50-plus percent this prime day over last year's prime day. the most popular categories, according to amazon, are what they classify as home chef, for the home, and techies. we know amazon sold two times more echo family devices in the u.s. this prime day than last, and three times more than worldwide. now, other top selling items include 23 and me dna tests, and senseo bluetooth head phones there were lots of head phones for sale there was some early prime day deals available. an

distributed by invesco distributors inc. have investors been too bullish on a trump growth agenda and should there be concern about the fate of tax trade and regulatory reforms as well joining us to discuss it all and the fate of the agenda is larry kudlow good to have you. >> thank you. >> we did have the speaker say this week in a radio interview that the tax package will be written in the fall. do you buy that? >> yeah. i basically do i'd like to have them start writing it in august i'd like to have them do the health care stuff now. trump said yesterday you're not going home until you write a health care bill i would have amended that. you're not going home until you write a health care bill and a tax cut bill. >> how can they write the tax bill not knowing how much they're going to have coming out of health care. >> never an important point, with respect, never. all that is is a bunch of accounting and process. >> but like a trillion dollars worth of changes and revenue doesn't that make a huge difference as to whether

distributed by invesco distributors inc. >>> this company doesn't get enough credit. that's asml which makes these $115 million extreme ultraviolet photography systems that are integral for all and this is moving up one of my favorite but also putting a bid under the microns of the world and when people sit back and realize this company is doing such great things with a backlog by the way of $2.8 billion they'll say maybe we're too faang sen trick today. maybe we'll get data maybe we have to circle back to micron so it was make it so that we're not just all about faang. >> you have been warning us on that for awhile. >> they did an etf and i got nothing from it but i will be here friday. it's a big day ge we have honeywell. >> huge news day. >> and there's probably going to be a merger because we know he's not in. >> merger. >> before we get to that, what's tonight on mad. >> okay. we have a company that, company i find the most innovative science company, edward's life science. remember if you have to have a, you have to have a very big heart procedure, they used to

distributed by invesco distributors inc. containing this information. read it carefully.urprised with extra monthly fees. we want hd. and every box and dvr. all included. because we don't like surprises. yeah. like changing up the celebrity at the end to someone more handsome. and talented. really. and british. switch from cable to directv. get 4 rooms with hd, dvr, and every box included for $25 a month. >>> welcome back to "squawk box. amazon prime-day kicking off later tonight, and there are some huge sales expectations for the online retailer. morgan brennan joins us with more this morning. >> what started as a 20th anniversary celebration has become an annual shopping event. amazon's prime-day kicks off tonight at 9:00 p.m. eastern with over 100,000 deals over 30 hours for prime members in 13 countries. amazon doesn't reveal the number of prime members, but consumer intelligence research partners estimates there are 85 million that's up more than 35% from last year. now last year's prime-day was amazon's biggest day ever. bigger than cyber monday with orders up 60% w

distributed by invesco distributors inc.t the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. ♪ >>> live at the stock exchange i'm sara eisen with david faber. carl quintanilla is off. down more than a tenth of a percent. financials are getting hit health care is doing well. nasdaq going positive. we'll see if that outperformance holds. we saw that in yesterday's session as well. crude oil helping the mood up 44.48. >>> possible watchdog on the block. president trump nominating a new banking regulator at the fed who is he and what will it mean for wall street? >> plus, in case you haven't heard, it's prime day. deals and steals look inside july sales holiday and what it means for the e-commerce giant. >> snap sinking ipo price since going public they're not alone. we look at that straight ahead >>> first, economic data let's get to rick santelli for those numbers. rick >> yes on the may final wholesale trade number down .

distributed by invesco distributors inc. thithis is the new new york.e? read think again..ding new airports all across the state. new roads and bridges. new mass transit. new business friendly environment. new lower taxes. and new university partnerships to grow the businesses of tomorrow today. learn more at esd.ny.gov >> jim did you have an opinion about whether it was overvalued, under valued or fairly valued? >> i have been following this one i felt that proctor is too slow with the cost production. i didn't like the way they had done in emerging markets unilever has been much stronger in their marks that said, this is a very challenged group and you have to take out costs and you have to also be able to take share and that's a hard thing to do all at once you never go wrong but i think they can do more and i like to think if nelson comes in he can do what he's done to a lot. >> 24 times pe and clorox trading higher does that make any sense in the world this whole group is elevated because rates are so up. the group has been very overvalued as long as rates stay as long

distributed by invesco distributors inc. containing this information.d it carefully. when a fire destroyedwith us everything in our living room. we replaced it all without touching our savings. yeah, our insurance won't do that. no. you can leave worry behind when liberty stands with you™. liberty mutual insurance. tthat's why at comcast,t to be connected 24/7. we're always working to make our services more reliable. with technology that can update itself. and advanced fiber network infrastructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. >>> welcome back to "squawk box," everybody. we are watching shares of blackstone economic net income, which is the preferred metric for blackstone came in at 59 cents a share. that was three cents below estimates. revenue was very slightly below forecasts, however, the chairman and ceo notes that assets under management are at an all-time high and results are up by do

distributed by invesco distributors inc. >>> summer is a hot time for travelers.ilar guzman from condi flae nast traveler. i was annoyed when i read it everybody wants experiential things >> you just want massages? >> i saw something a couple weeks ago that said the number one thing people want to do on vacatio vacations, nothing i kept telling my wife that. we were going through our daily schedule of things that were on the list that we absolutely had to do, we had to be up, go here, go there i said the number one thing thee thing is nothing, and i got nowhere with that. so you're telling me it's all about -- >> well, at least for a certain kind of traveler. >> airbnb too, right >> you said something about hyperlocalized -- did you make this up? >> i swear i didn't. >> there really are trends like this >> well, i think the mindset has shifted a little bit i think certainly there's always a place where you go, you sit on a beach, you sit on a mountaintop, you go and relax. of course there's always a time and place for that i think increasingly, and i think social

distributed by invesco distributors inc.r bbut as you get older,ing. it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. >>> the turtles every day. we're happy together, is that why? >> we're all back together >> is your news, can i share that >> you're going to make people think i'm pregnant again would you stop >> that's not the news happy birthday >> happy birthday. >> that's all. >> thank you, gentlemen. >> it could be your birthday and you could be pregnant. >> i'm not >> now we know >> as far as you know. u.s. equity futures at this hour up 21 points i'm not pregnant either. what about you are you -- >> not that i know about >> not that you know about good up 20 on the dow nasdaq up -- that's relative -- on a relative basis st

distributed by invesco distributors inc. containing this information. read it carefully.hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. . >>> welcome back gold breaking a three-day losing streak amid rising ge oh, political tensions mike joins us from austin to break down the action. >> so, yes, we saw about two times the average call volume today. this is one that normally trades quite a lot of volume any way. we saw a big trade in the december 135 160 call spread 35,000 traded for about 42 cents, now, a buyer would be betting it's going to be above that by at least 40 cents or so so above 135.5 or there abouts in less than six months time there has been a lot of institutional interest in both of th

distributed by invesco distributors inc. >>> netflix reports earnings today after the bell the stock'sp 30% year-to-date. can netflix live up to the street's expectations. btig analyst rich greenfield joins us welcome back. >> thanks for having me. >> your expectations are high. do they get met tonight? >> you know, look, the content this quarter has been pretty incredible and netflix historically has been very much tied to the quality and quantity of its product cycle so, you know, we really are a believer that if consumers continue to embrace the content on netflix, churn goes down, gross ads go up and that makes for a very attractive story. i will tell you both though, when you think about what's happened over the last few months, i think fears about legacy media, about courd cuttig have certainly accelerated and we think most investors expect to see continuing acceleration and cord cutting and shaving trends all of that bodes very well for more and more consumers adopting netflix. >> i mean, look, that's been sort of a personal crusade if you will of yours. i mean, you've been twee

distributed by invesco distributors inc.o away. >>> good to have jim back in stop trading. >> we talked about the autos, auto parts and how they're getting hurt debold, dbd, and their statement they're talking about complex bank software and how the orders aren't coming through and hurting ncr. this is a company that has the best technology to be able to swap, you know, look at your iphone and wave and they were talking about getting rid of 3 million checkers, making them into sales associates when they were on "mad money" but this is a merger that was working very well and now people are really calling into question and there isn't a lot of value there i wouldn't be quick to just completely throw it away but the statement that they made is daunting and disappointing. >> what will you do on your return tonight >> where i think oil is going. i think it's time. i've got the best oil person in the world who has been right on every turn talking tonight with me. >> yeah. down today for the first time in nine sessions. >> maybe wr

distributed by invesco distributors inc. >>> it was up 123 points, 171 at it's peak.net yellen after she began her testimony better than 1% gain on a four day win streak for that index. s&p up 17 now let's send it over to susan lee for a market flash. >> hi kelly stephanie is stepping in, she's taking over for dan who. and box has outperformed and outperforming the sean it's time to lay the ground work for major deals. julia is there no big headlines yet, right? >> reporter: no big deals we've heard about yet, but all of the moguls we've talked to here tell us it seems like more media consolidation is inevitable. media giants are facing grower pressure from digital distribution from facebook and google and see a lighter regulatory environment >> i think consolidation is inevitable that doesn't mean it's necessarily smart. consolidation is good, when you're no longer growing, and there is no growth left in your sector, and so you consolidate and cut cost and do all of those things >> it's a consolidation for cable, broadband, and phone. and more and more looking like a

distributed by invesco distributors inc. ♪ ♪ >>> good friday morning. "squawk on the street." kayla tausche is back. >> like that intro song right there. >> sarahi ooieisen is off today big day for banks and macro data we're watching the hill even though kayla is here today >> the start of earnings season. jpmorgan, wells fargo, citi all reporting. a little drama on that jpmorgan call we'll dig into the numbers >> retail sales did slump in june >> ceo psychology in the spotlight. why one popular way of operating may be on the way out. jim stewart is with us >> all right so we worked our way through cpi retail sales more data crossing the tape. let's get to rick. >> yes, light aim toward universal michigan sentiment july preliminary which means this number will day peer when we get the final 93.1 we were expecting a number most likely at or north of 95 last look on the final june was 95.1 93.1 it gets an interesting accolade here it's the weakest number of the year and actually 93.1, let me cipher here. looks to be the weakest number since september of l

distributed by invesco distributors inc. containing this information. read it carefully.ow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring) >>> heading for the last two minutes of trade for this wednesday, no follow through from monday's rally that took the dow and the transports up into a record territory, briefly during that day, so what did move today oil. let's start with that one. that decline there after eight consecutive up days for the price of wti crude, now a 4% decline, and tomorrow, we get some inventory data. so we'll see if that confirms that move there. the ten year yield, not a huge move here, but we are watching it very carefully as it coming off these recent lows with all that's going on over in europe with mario talking about trying to remove some of the monetary policy over there. the easy money policy, and our own fed debating that. and we saw that in the june meeting of when to start to do the draw down on the balance sheet there. the nasdaq, another market we're watching carefully right now after the recent tech rack and the sideways m

distributed by invesco distributors inc. box. the u.s.quity futures are just a bit higher right now for more on the markets, joining us is kathy jones, chief fixed income strategist at schwab center for financial research and our guest host is jason trennert kathy, thanks for joining us this morning >> thanks for having me. we were talking about how the euro keeps hitting new highs, especially after what mario draghi said yesterday. even though he was dovish, the market thinks they will be withdrawing some support they have had in the market do you think that's the case >> i think they're running out of assets to easily buy. at some point they have to taper that the european economy is looking better also part of it is the decline in the dollar. we had a lot of disappointing economic news. not terrible but some what disappointing relative to where europe has been a bit on the better side. and our political issues are weighing on the dollar as well >> having said that, you think the market is underestimating what the fed is going to do in

distributed by invesco distributors inc. >>> welcome back the number of ipos in 2017 were up becauseumbers may not be the whole story. let's get to leslie at the new york stock exchange for more on this >> hey, melissa, that's right. we've seen 91 companies debut on u.s. exchanges this year, raising about $28 billion, that's more than double the 42 companies that went public during the first six month of the last year. that generated about $8 billion, so, yes. those numbers show a rebound, but more important for the ipo market is is performance of recent ipos. here's why investors who generate alpha from an ipo are more likely to participate in the next one. with the performance so far this year has been a bis mall on average, ipos return ed 10.6% that's about one fifth the returns that ipos posted on average during the first six month of last year in fact, it's the second worst performance going back to 1995 and day one has been the worst of any period that wasn't a recession. some high profile ipos are among those that israelfizzled. snap shares are only up 1.8% and blue apron, the

distributed by invesco distributors inc.nate majority leader mitch mcconnell huddling with republicans in hopes of finding a compromise on the gop health care bill. we just heard from the president on twitter, i'll be having lunch at the white house today with republicans senators concerning health care. they must keep their promise to america. now joining us, north dakota senator heidi heitkamp and in a -- one of my fantasies, senator, i thought you might, because of where you stand politically, i thought you might actually make up for one of the rhinos that the republicans were going to lose in health care i thought you might make up for it and vote for the -- was that just -- what i called it a fantasy, not going to happen >> that was really a fantasy not going to happen. >> what should we do then? are you willing to work in some way to -- to fix some of the parts of the affordable care act that need fixing do you think that's something that would -- does it have a chance of actually happening, senator? >> i think it does

distributed by invesco distributors inc. containing this information. read it carefully. least analyze customer can we push the offer online? legacy technology can handcuff any company. but "yes" is here. you're saying the new app will go live monday? yeah. with help from hpe, we can finally work the way we want to. with the right mix of hybrid it, everything computes. ♪ >> announcer: welcome back you're watching "squawk box," live from the nasdaq market site in times square. ♪ >>> good morning u.s. equity futures at this hour, after an interesting session yesterday, today it's not interesting, at least not so far. the s&p's down a little over a point, and the dow jones up less than a half point, nasdaq indicated down five. we'll see, though. a lot changes throughout the trading session. that's where we are, though, this morning. >>> developing story a u.s. military plane crashed in rural mississippi yesterday afternoon, killing at least 16 people a marine corps spokesman said that the kc-130 transport aircraft experienced a mishap but declined to provide any additional d

distributed by invesco distributors inc. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. >>> welcome back allen & company conference underway in sun valley, idaho this week and there's been a lot of talk about what could be the next big media merger. >> hey, melissa, that's right, the media moguls and bankers here are on the lookout for more media deals. barry dillard says while he's not a fan of consolidation for his own companies, he thinks more deals are inevitable. >> i think all traditional media players are towers because they no longer have any pricing power. but the internet has done is taken away pricing power used to be when ever you have a closed system, cable close d system, network closed system, it's easy to race prices when those systems are in vaded by the ber neber net, they're vulnerable >> weighing in on the acquisition of time warner, he said he think it is deal will be approved despite pres

distributed by invesco distributors inc. containing this information. read it carefully.s why at comcast we're continuing to make4/7. our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. >>> welcome back let's send it over to kate rodgers for had a market flash. >> we're watching shares of cyberark down 15% in the after-hours market they issued a warning on the second-quarter results the company pointing to results in europe, middle east and africa for the shortfall the stock is down 5% year to date and now down around 16% kelly, back over to you. >> thank you, kate one of the cyber security -- >> can't speak too much for what's going on in particular, but i will say the space is incredibly choppy for an-year that you would think they are just kind of feasting on all the turnarounds. >> this has been going on for ye

distributed by invesco distributors inc. containin♪ this information. read it carefully.t words? [boy] karma, danny... ...karma! [vo] progress is seizing the moment. your summer moment awaits you, now that the summer of audi sales event is here. audi will cover your first month's lease payment on select models during the summer of audi sales event. >>> all right. third quarter is under way of course, we're taking a look back at the second quarter, the best and worst trades from our gang first up, let's listen >> jpmorgan is going to 100. that's the direction it's headed you should own this thing. >> i think the small caps have underperformed, they've been unloved. they're underowned by the market >> all right jimmy, starting with you there you go, adobe up 9.5%. >> hang on to it if you don't own it, don't load the boat here. but it's the anti-staple stocks. it used to be 20 years ago, a person joined a firm, employment picked up and that would mean a lot of copier paper going through. that's been replaced by adob e y licensing. as employment picks up in the modern economy

distributed by invesco distributors inc. if you could book a flight,n. read it carefully. then add a hotel, or car, or activity in one place and save, where would you go? ♪ expedia gives you the world in your hand, so you can see more of it. ♪ expedia. we created the ripple: the doughnut in a doughnut in a doughnut. right away, it was a success. i mean, it really took off. what people don't know is that it all started with points from my chase ink card. i bought the ingredients, utensils, even custom donut cutters. wow! all with 80,000 points. what will you create with your points? learn more about the ink business preferred card. >>> welcome back to "halftime. there are many legendary hedge fund managers, but a new report says that investors might be rewarded for taking a chance on the new kids in town leslie picker hear with more on that story >> hey, scott. sometimes it is easy being green or easier. turns out that newer hedge fund managers are those with less than three years of experience tend to outperform the industry. a new study shows that up an

distributed by invesco distributors inc. >>> we're back with unusual activity doc, you are up first with >> bud wise s budweiser the july 110 calls just out of the money trading 109.62 i guess right now. look at those calls. the july 110s and they were bought in pretty big numbers, judge, and then take a look out in september they bought the 130 calls in even bigger numbers. you're looking at more like 17, 18,000 of these. 18,000 is 1.8 million share equivalent that's a big purchase and way out of the money those are 130s so i bought calls in here and i'll probably be in them about three weeks. >> pete, what about you? >> talking about tech. i got a twofer for you i'm going to start off with the first one, chip stock, micron. having a pretty nice move after earnings you saw 162 versus 151 stock had a nice move. stock trading around 30. been stuck for a while today somebody is going out to october buy in the 30 strike calls. huge 30,000 of those trading. i've talked about that in the past some of the july buying as well people are looking to are a breakout to occur in micron through that

distributed by invesco distributors inc. >>> the cnbc iq 100, up more than 20% for one year. it's an index tracking big-cap companies that get most of their revenue from their own intellectual property. today's leader include stryker, teradyne, western detail and ibs. >>> welcome back to halftime senior economics reporter, steve liesman, has a rapid update. >> the negative data today, especially the negative retail sales data vz a downward effect on the outlook for gdp the cnbc rapid update, which is the median of forecasters on wall street for the current quarter or the one that we're in the middle right now, second quarter gdp tracking 2.5%. that's down 0.2. and we have been as high as 3.8 when the quarter started, but the data has come in negatively and it's been whittled down the range 1.9 to 3 you can see the first quarter there is 1.4 who is where moody's is keeping the faith at 3% morgan stanley in action at 2.6. barclay's at 2.4 goldman sachs and b of a bringing up the here at 1.9% all of this having a downward effect on the outlook for that third rate hike of this ye

distributed by invesco distributors inc. >>> according to our data partners at kensho, the s&p has gained10% or more through the first seven months of a given year 12 times in the last 37 years. when it happens, the s&p then trades positively for the remaining five months 91% of th time for more kensho, go to cnbc.com/kensho. now back to scott wapner and the halftime traders >> all right, we are back. mike, let's talk some sectors. give our folks some guidelines on the places they should be looking. you like financials, industrials, energy, and tech. so all of -- so value and growth is going to work together? >> right that's the change. last year was all about value. economies were expanding again and so if everybody rotated towards value. this area, value worked a little bit, and then, of course, around march 1st, when i would argue president trump's popularity peaked, that's when we went back to this barbell secular growth june 9th, you had a rotation back to financials and even energy has performed better. it's stabilizing so, yes, it's a balance now between growth and value it's not s

distributed by invesco distributors inc. so that's the idea. what do you think?ate to play devil's advocate but... i kind of feel like it's a game changer. i wouldn't go that far. are you there? he's probably on mute. yeah... gary won't like it. why? because he's gary. (phone ringing) what? keep going! yeah... (laughs) (voice on phone) it's not millennial enough. there are a lot of ways to say no. thank you so much. thank you! so we're doing it. yes! start saying yes to your company's best ideas. let us help with money and know-how, so you can get business done. american express open. >>> president trump will give a major speech and talks will focus on developing ties in industry and infrastructure. . >>> shares of tesla on track for the worst week in ten months the model s failed to achieve a top score in one of the crash tests run by the insurance institute for highway safety it only received an acceptable rating however tesla is saying the most objective tests are done by the government which found they carry an extremely low rate of the injury the other part

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distributed by invesco distributors inc. >> good tuesday morning.elcome back to "squawk on the street." sara is off today. markets down by disappointing metrics inside goldman's earnings banks aren't doing so well crude is doing all right, up a percent. david? >>> netflix is hitting an all-time high, surging as its subscriber numbers just crushed wall street's expectations >>> house republicans unveiling their budget for '18 as republicans pull the plug on their health care bill what that means for tax reform and the rest of the agenda. >> how the ceo of kohl's is attempting to fight off amazon and also slowing traffic in malls. he joins us straight ahead. >>> diana olick. >> june's reading was revised down as well the street was looking for 68. so this cis a big miss on the wells fargo. still in positive territory but the lowest reading since last november before the presidential election sentiment spiked after that as the home builders thought the trump administration would give them deregulation in the market. they did get some of that in march a

distributed by invesco distributors inc.e price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. >>> welcome back cnbc kicking off its 11th annual countdown of america's top states for business. scott cohen is with us from the top state which remains a mystery. >> does this help you? i don't know this is -- we're welcoming your guesses, but we do keep it a mystery, that's part of the whole thing. it's a very closely guarded secret, even within cnbc because we prosecute leakers it's a great system we have. what we're going to be doing for those of you who haven't been with us for the 11 years we've done this before, is that we're counting down the top states all day tomorrow, the five top states for business and give you clues and eventually on the "closing bell" tomorrow we'll reveal where i am, america's top state for business it's a lot of fun but also a serious study that goes behind this since we started doing this in 2007 w

distributed by invesco distributors inc. >>> more than 23 million people in rural america have no hack ses toss broadband and microsoft is looking to change those numbers. josh lipton joins uses from san francisco with the new details josh >> that's right, kelly so the news is coming as a bit of a surprise but by 2022 microsoft hopes to bring bebond connectivity to 2 million people in rural america as you mentioned, there's 23 million people living in rural communities without reliable high speed internet service. microsoft wants to change that by improving access through what's called tv white spaces or unus channs used to liver broadband access they will have the system up and running and brad smith talked about the issue today. >> this is an issue near and dear to our hearts at microsoft, broadband connectivity for the nation we're not a telecommunications company, and we don't want to be one. we're not a broadcaster, and we don't want to be one either. but we are a technology company, and we're a technology company that for 42 years has focused not only on building better products

distributed by invesco distributors inc. >>> welcome back it's time for a cnbc news update with michellecabrera hi again, michelle. >> hey, kelly. here's what's happening at this hour prosecutors in ohio have decided not to retry a cincinnati police officer on murder charges for a third time officer ray tensing's previous trials ended in deadlock he was charged for fatally shooting ununarmed black man during a traffic stop in 2015. >>> republican lawmakers in texas poised to push their conservative agenda through a special session. topping the list of priorities, a transgender bathroom bill which governor greg abbott advocates. he also wants to see an immigration law which would allow police to randomly ask people about their immigration status. >>> the fbi warning parents about privacy risks from internet-connected toys. the so-called smart toys can contain sensors, data storage, even speech recognition that could disclose personal information. they advise consumers to examine toy company user agreement disclosures. >>> the bank of england unveiling its first plastic ten-pound note, and

distributed by invesco distributors inc. >>> shares are weaker than half a percent today.d the stock is trading weaker >> can you imagine being invested in taxi medallions. >> some of the credit unions are directly lending to the guys in the new york city have been going under. so this is a higher profile perhaps casualty we'll see tomorrow >>> meanwhile american express is one of the many companies reporting it's second quarter earnings after the bell tonight. shares are up 15% this year so far. and the company recently won a deal to become the exclusive issuer of hilton honor cards beginning in january the question is does this deal make american express a buy for investors? welcome to you both, john, you're our bull on am medical examiner here, what's your case? >> so year to date, am medical examiner has done well as you said i think the big story here for american exsuppress high end exposure and their good credit at the high end you have an asset-sensitive consumer most am medical examiner customers are looking at the bottom right hand of your screen seeing the embas

distributed by invesco distributors inc. >>> you're watching cnbc "squawk on the street," live from theinancial capital of the world the opening bell in about 90 seconds. there is a lot going on today. obviously, we just heard from julia boorstin out in sun valley but we do expect to get a revised health care bill out of the senate, potentially a cbo score on the 2018 budget the president is in paris today for the bastille day celebration, which actually is marking the 100-day anniversary of the u.s. entry into world war i. we'll get pictures of trump and macron in a moment >> great to see it, whether you like trump or hate him, the relationship is back on in a way that i did not think was possible >> a last-minute trip. the scheduling happened with not a lot of preparation futures have been pretty steady. we've talked about the bid in tech once again. upgrades as some downtrodden names, guidance that's better than expected, retailers >> david asked me why we can continue to go higher. it's a lot of that it's a great description of what's going on. very positive. >> let's get to the ope

distributed by invesco distributors inc. >>> welcome back more earnings to get to here what's happeningke a look at athena health. 51 cents adjusted. the street was looking for 39 cents. revenue, too, coming in well above expectations around $301.1 million. the stock up about 8% here let's talk shoes because shares of sketchers moving lower after earnings michigsseded estimates 38 clents. revenue coming in hire at is.03 billion versus the estimate of 967 million. gross margins, 47.6% for the second quarter outlook, below consensus stock down about 2% here >> michael, does that make elliot's job easier or harder? >> you know, in theory, it makes it slightly harder to affect more change. it's a jumpy stock a controversial company in terms of accounting and whether the size of the end markets are are, >> yes, so 8% rally there. want to check on the other movers after hours we're approach iing for ebay, va and capital one. microsoft's call doesn't kick off until 5:30 the others are rallying slightly, then tomorrow morning, we have general electric reporting, ge, they've trailed the s&p by 2

distributed by invesco distributors inc. containing this information. read it carefully. yogig-speed internet.me? you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids. and these guys. him. ah. oh hello- that lady. these houses! yes, yes and yes. and don't forget about them. uh huh. sure. still yes! you can get it too. welcome to the party. introducing gig-speed internet from xfinity. finally, gig for your neighborhood too. >>> fedex still feeling the effects of last month's cyber attack and said today in a securities filing the attack will have a material financial impact on its tnt express business fedex says that it does not have cyber insurance or other insurance to cover that attack, and it cannot estimate at this time when tnt services will be fully resort boy, lesson learned. >> and medtronics had a computer crash that affected -- they were saying it was going to affect their result, and these were, you know, whether because of a crash or because of the intentional hack, it's becoming more

distributed by invesco distributors inc. >>> welcome back amazon is facing more criticism from d.c.rs following its deal to buy whole foods. in a recent interview senator cory booker said consolidations helping by big tech giants like amazon follows more scrutiny following a report amazon spent $3.2 million on its lobbying in its second quarter has amazon become too big? joining us is david levanthal and tech editor at actionos, kim hart welcome to you both. >> thank you. >> thank you >> dave, is there lobbying spending high to you in an unusually high amount? >> as high as it's ever been for amazon request the question what they are lobbying on. what aren't they lobbying on it's net neutrality and tax reform and they want to put drones everywhere and add it all together and it serves to reason they will be spending more amounts of money, a new congress, too, and you want great representation that you're having at the table in any and all of these discussions and that's why you see amazon along with other folks lob epping up doing 2017. >> kim, is there anything that you think regul