an exclusive interview with short seller jim chanos.comes right back. that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! on cnbc. we're minutes away from second quarter productivity data. meantime where markets stand to get the market reaction afterwards s&p 500 looking unchanged at the open here. looking to open up by about 1 point. dow jones industrial looking to lose 1 nasdaq higher by 20 points ten-year yield yield there 1.329% rick santelli, got to ask you, standing by in chicago a couple minutes before the numbers, of course, marketmakers' minds, rick, when the fed will actually talk about taper and actually do taper? >> well, i think we're going to be talking ab

. >> because we want new investors, but i think jim chanos from the previous show raised good opinion about why the stock is so high. >> talking about all of those things before that, jim what caught your eye in terms where we stand in the markets, bond market? i don't know take it wherever you want. >> i know, david, it's more in your baliwhip, but once again, do you think that something's worth -- a strong company comes along. it's not it's worth more. >> worth more to them, but still worth more to cm. >> i'm watching, like you are, saying -- i keep seeing those and let me tell you what else is rampant. >> by the way, i'm going into detail a very complex back and forth here jim is referring to the raised offer from canadian pacific to buy kansas city southern going against obviously what is still a higher offer from canadian national, but it gets complicated. we're going to break all that down a little bit for you. >> and down badly. it meant nothing to the market. >> you were-were you surprised by that? >> yes w while going up, great for the economy. goes down and nobody focuses on

. >>> we've been much more tomorrow morning when investor jim chanos joins "squawk box." >>> skillz reportingnext, the ceo will talk about when he's seeing a rebound we'll be right back. ♪♪ the ey entrepreneurs access network has a tremendous impact on my business because it's given me networks, access to capital, and access to opportunities. the level of coaching that i get has had a tremendous impact. it allows companies like mine and others to grow, and it closes the wealth gap in this country. >>> time for a cnbc news update with rahel solomon. >> here's what is happening at this hour. the cdc is urging americans to avoid travel to france, israel and thailand because of the rising covid cases in those countries. >>> in california, an off-duty police officers has charged with manslaughter in the fatal shooting of a mentally ill man who attacked him the officer said he believed the attacker had the gun, but authorities say he was not armed and was moving away from the officer when he fired. >>> in florida, norwegian cruise lines can require passengers to prove that they have been vaccinated

. >> jim chanos told us that he isn't convinced that amc can be profitable. >> you can kind of run through're goods to be doing somewhere around $2.5 billion, possibly even less there's just no way they can be profitable >> yeah, so a lot of skepticism. i know you and i were talking about today the heavy lift. >> more like a gorilla debate. >> so it was always a chance, it was always a business that was pressured by what's going on in the world. we know the stocks has its own -- in the business realities really no clear path. >> are you confident it's back to trading on the fundamentals. >> that's fundamentally what value investors do, they compare the price of a stock to its intrinsic value. and civil amc is still a long way from its intrinsic value and they're not having any of those people in the back rouf. they're going to have 50% of the people they had pre-pandemic unlike viacom, which is trading today, civil amc is just way above its intrinsic value. >> now down 6%, mike, a possibility of gaming, other ways of using its brick-and-mortar footprints, aaron seems to demure on whether h