what did you hear in hampton's quick summary ofs on -- excuse me -- jim mcdonald i got lots of jims i the gym here jim mcdonald, what did you hear in the report that stood out to you. >> so, tyler, i was reassured to hear the assessment of the inflation picture. i would not have wanted to hearing them solely dismiss the recent numbers as soft with complete confidence we would see a rebound. inflation has been stubbornly low for a very long period of time, and the fed risks bosch more than they need to i think the market is ready for them to start to reduce the balance sheet. whether it's september or december, i think the market's -- >> do you think that september will be the time where they go into more detail on the balance sheet? they certainly nibble at it in the most recent statement, maybe not so much in these minutes, but certainly started to talk about it >> yeah, i do think so you know, i think in september they'll probably announce something perhaps brie reduction would start in october, at least that's our base case, and possibly even hike rates one more time in december. i

disinvestment of the subcommittee, on behalf of the major canisters of america, los angeles kent sheriff jim mcdonaldnd all the partners who comprise the los angeles regional human trafficking task force thank you for and by me to testify on street gang members and sex trafficking. the los angeles regional human trafficking task force combines the resources of local, state and federal law enforcement with the prosecutorial authority of the los angeles district attorney of u.s. attorney's office with a truly victim centered approach. the combination of resources include the los angeles county department of children and family services, los angeles county probation department, california department of corrections at a nonprofit coalition against slavery and trafficking are all co-located in the same office, literally sitting next to each other. our co-location model breaks down the previously established silos between agencies and brings to get assistance of discipline to address the victims needs through a victim centered,, informed approach. the task force employs originally strategy that crosses jur

. >> mad money's jim kramer talking with the ceos of mcdonald's and city today. joining us next. >>> facebook shares rallying more than 40% so far this year coming up, a debate on whether you should be selling the stock ahead of it's earnings which are due out until less than an hour. >>> and we to want hear from you. reach out to the show via twitter, facebook, or send us an e-mail, closing bell sisschg bcfit , rsin bune worldwide where's jack? he's on holiday. what do you need? i need the temperature for pipe five. ask the new guy. the new guy? jack trained him. jack's guidance would be to maintain the temperature at negative 160 degrees celsius. that doesn't sound like jack. actually, jack would say, hey mate, just cool it to minus 160 and we're set. good on ya. oh yeah. that's jack. good on ya. when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time a

jim. other news this morning, mcdonald's is unveiling the mc delivery collection.s branded clothing including jogging pants, hoodies burger pillow, flip flops and onsie and it's part of the partnership with uber eats and the expanding delivery across north america. they're going to hit this hard it seems. >> he is a man not to be trifled with the stock is up 60 points. steve knows that i use a mcdonald's apron every day when i eat my salad so i don't ruin my tie that the tie the network gives me i sent him pictures of it but he's the man i sure wish that we could spend time with him because there's nobody better. >> mcdonald's has not traded below the 50 day since you have to go back to january. >> remember they thought he was a one trick all daybreak fast pony and by the way, he has been known to, if he finds there's a bathroom not clean, that changes overnight. this is a detail man that understands technology and affinity the implicity of the menu which has given him the buy into the franchises and when i spoke to him he makes it clear. he says it's about mojo. >

mcdonald's, caterpillar. this is not just the sexy f.a.n.g. stocks. jim cramer called it old dogs with new tricks.in the group as well. what does that tell you? >> tells me the economy is getting better and that that will benefit earnings. the thing people got wrong the last couple of years, they felt the profitability was too high for earnings to go up even if the economy got better that's simply wrong. the economy getting better. >> you like tech what's the next top pick after that >> health care you have an aging population improving technology in healthcare and a representative democracy. i'm not surprised they're having such a hard time crafting a healthcare bill. we'll have to pay for it you cannot tell people you're too expensive to keep alive and expect hthem to vote for you >> how does that impact the stocks isn't there uncertainty about the policy and what it will look like >> i'm never good with 5%, 10%, 15% moves in the market. on balance, spercentage percentf healthcare to gdp has to rise. >> it just sector speck liific healthcare or will we see a pick up in the market more broadly? >

jim. >> what's up >> caller: i have a question today for you about mcdonald's >> sure. >> caller: okay.o given the declining revenues every year over the last four years, and taking a really hard look at the balance sheet, declining assets, the looming debt, i think it's over $27 billion now, negative equity, $2 billion in negative equity i see trouble. what am i mising >> you have a real turn in the same-store sales which control things all what you say is right, absolutely and you say it's crazy is the stock has moved so much, but it's reinvigorated company with a reinvigorated stock and people are willing to pay this amount i think it's overdone to the upside and i've loved it for a long time. i want it to pull back, but it's a very real movement thank you. yum brands breakup is one of the most anticipated in recent memory i say you stick with yum brand the parent much more "mad money" ahead, including a little known biotech company with a new way to treat cancer, and it's up over 100% year to date i'll talk with the chairman, next >>> then hearing the fallout from amazon prime day,

businesses like car vel and mcdonald's provided special deals today where customers could receive free ice cream. wow. beautiful day. let's turn it over to sports. here's jim cozy mar. >> the best sites and sound from the american golf tournament including a father/son bet gone wrong and the giants try to win the series in san diego. sports coming your way next. na the mercedes-benz summer event is back, with incredible offers on the mercedes-benz you've always longed for. but hurry, these shooting stars fly by fast. lease the c300 for $399 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. jim kozimor @koznbcs 33-41 ts >>> i'm jim. after a heartbreaking loss now night the giants are hoping to win their first series after the all-star break. down in san diego we go. giants, padres and the shark making its way to the hill. bottom of the first inning. not going so well. hector sanchez beat them last night. hits a three run in his first at bat today. his second home run of the season. 3-0 padres. now 4-1 in favor of the home team. corey span dingberg along three one last for san diego. they win the game and the series 7-1 the fina

. >> jim, people are pointing out the dollar if you take mcdonald's as an example, it has not been the -- we didn't expect it to have a huge impact. it's been muted by historic standards. they're making back a weaker dollar gu to vienna you get a pretty cheap burger or italy, a cheap burger go to italy and get mcdonald's you're completely out of your mind burgers there are very cheap. >> are they? >> yeah. i just priced it i'm a super tuscan guy. >> in italy i wouldn't think that's the chosen cuisine. solely focused on the performance of companies in terms of their underlying -- china preparing for crisis along the north korean border. >> trump going to youngstown the old capital of steel, other than pittsburgh. will he invoke 232 talking about a national treasure there's a huge number in that gerald ford aircraft carrier that was launched this weekend you could make a case without u.s. dominated steel that thing could -- you want to make an aircraft carrier with chinese steel? >> first six months of this year more automobiles made in mexico than last year, 16%, i think it was. >> maki

mcdonald's. ♪ >>> this is cbs-3 "eyewitness news." >>> good morning, i'm rahel solomon, jim is off today.t your day in the morning minute, today, july 3rd, 2017. >> if they except the budget today, the shutdown would be over. >> state luck makers headed back to trenton starting 10:00 n the budget. >> this appears to be senseless brutal act from one human took another human being. >> police say david desper in a apparent act of road rage. >> pulled out a gun, killed this young woman. >> the fake media tried to stop us from going to the white house. but i'm president, and they're not. >> the commander in chiefs shot out this video of him fighting with cnn. >> and he juggles it, and now they're going to get to throw, and he's out what a play all the way around. >> what a play. and it was a great play by aaron altherr, in centerfield during yesterday's phillies met gamement the fighting won seven to one. >> out to katie, good news for the phillies fans, good newses also today if you like the warm wetter. >> definitely, one for you for sure, this actually ends up being the hottest day of the n

mcdonald's. ♪ >>> it is a 4th of july tradition in philadelphia. the ringing of the ceremonyial liberty bell. ♪ . ♪ . the bell rang out in the tower of independence hall and our jimf ceremonies at the let freedom ring ceremony this afternoon at independence square. the sons of the revolution organized the event every year, and it's actually required by federal law that the bell ring on independence day exactly at 2:00 p.m. lauren? >>> of course, we're just closing out our 4th of july weekend. a short work week and another weekend upcoming, and it could be one of summer's best high pressure building in. looks at this point like sunny skies for saturday sent sunday and humidity will be dropping off throughout the day sunday feeling nice and comfortable especially by sunday, and high temperatures running a bit >>> morning team back from 4:30 to 7:00. the late show with steven colbert is next. thanks for watching we'll leave you with the fireworks show on the parkway. happy 4th of july. captioning sponsored by cbs >> thursday, thursday, thursday. one day only. live on capitol hill. james comey ground-stopping, heart-pounding mayhem. watch the nitro-fueled former f.b.

. >>> our own jim cramer is sitting down with the ceos of mcdonald's and citi. >> thanks, everyone. >a powerful day yesterday. >> a lot of what is happening at citi, it's really, i would say, a revolution that's finally being acknowledged it's been going on and the first time in nine years that they had an analyst meeting and he's basically saying, i would say, if you had to read the subtext it would be, you know what, we're every bit as good as bank of america and jpmorgan and it did encourage you to think that the stocks should be higher. >> they suggested to the analysts, it could be 100 bucks by 2020? >> yeah. let me just tell you what they are looking at is scrubbed by the feds and it's $68, roughly and jpmorgan, most of these sell at least 1.5 to 1.7. their book is no better than citi's book. i could argue that citi's book is even better because of the 50% recurring revenue stream what they are trying to do is have their stock be rerated and i thought they did a compelling job. >> we're minutes away from a fed decision there's speculation as to whether miss yellen will continue.

mcdonald's. ♪ >> phillies get four days off and hopefully they'll be well spent. >> hopefully they get their minds right for the second half of the season jimlosses. if ever a team needed the all-star break, it's the phillies. they have the worst record in baseball. more on the team in a second but we first focus on the team's lone all-star. reliever pat. >> i think i'm the second oldest guy to be on there this year. so, yeah, it's an honor. you know, i -- you look back -- almost made in it 2007 and now it's 2017 so pretty neat especially, you know, being a noncloser and yeah, it's not easy. >> the needs did end the first half of the season on a high note. they beat the padres yesterday seven-one. cameron are you's second inning home run was one of six home runs for the phillies in the game. now it's time for a few days to clear their minds. some like the all-star break others say they don't. >> it's kind of a bittersweet thing. it's time to recharge, get your mind right, get back into -- back into the swing of things start over. and then feeling good, i'm getting -- swinging the bat well and getting good pitches to hit and not missing. it'

with each other as coca-cola and mcdonald's even though of course diet coke and mcdonald's is so fresh when it comes out. >> jimentioned the fed meeting this week. that, the imf cut it's forecast from 2-3 to 2-1. that's ahead of the fed meeting with the announcement at 2:00 p.m. eastern time it's being characterized as a place holder routers points out maybe this is a meeting in which they start to talk more about other central banks and how those decisions are influencing u.s. policy. >> the imf is saying that we are being carried by other countries. this has been my thesis. the reason why i liked this quarter so much is there's so many countries that are doing so much better. so many continents that are doing better so you end up with, unless it's a very particular kind of group, ppg, downgraded twice today because it's a little weak. you get a nice tail wind from overseas when was the last time we had a tail wind from overseas? what that says is where to begin. i don't think the euro is done i don't think the euro is done a lot of people are starting to bet against the euro that could be a fools case. >> int

jim athanasopoulos, iraq ceo from new york. -- imax cfo from new york. mcdonald'sthe golden arches saw an increase in diners in the u.s. last quarter. the ceo told bloomberg that speed and food quality are key to its overhaul plan. >> we begin to see results. all customers are visiting more often, the ultimate measure of the strength of the business. >> you said yesterday -- this is a direct quote --ould like you n order of importance these things all guests want some of. cheaper food, which you might describe as value. healthier ingredients. different menu options. tastier food. a better experience. what is most important? >> experiences key and one element of that is speed. things we will never get a pass on our value and speed, that is what all customers expect. as you say, customers are getting more demanding. they want to see us respond to the things that matter on their agenda. food quality is one of them. we have been investing in fresh beef for a quarter pounder patties, cage free eggs, removing antibiotics. when we invest in things that matter to customers

have to go because we want to make time for the ceo of mcdonald's steve easterbrook is with us here on post nine. we'll talk earnings and more plus jim got an exclusive with the head of citigroup after holding his first investor day since the crisis we'll hear sound from that in advance of mad money tonight nasdaq is up 12 of 13. dow needs 68 points at the open for an all time high we're back in a minute experience advanced safety technology at the lexus golden opportunity sales event before it ends. choose from the is turbo, es 350 or nx turbo for $299 a month for 36 months if you lease now. experience amazing at your lexus dealer. >> it is great to have you back. >> thank you, good morning. >> last time you were here we talked about increasing guest count and you're doing it even as some of the initiatives are literally getting off the ground. >> it is early days but we always said the fundamental measure of success is serving more customers more often so initially 8 quarters of growth it's just fantastic but really it's underpinned by resinating the customers in a more meaningful way and we have begun to do that. >> people talk ab

jim cramer joins us now. what's going to be the star of the day? >> between caterpillar and mcdonald'sy strong story to talk about all the transportation, resources, construction every single line looks terrific mcdonald's, i can't believe how much easterbrook has blown away overseas people kept saying this has to end. you can't keep this streak up. he has accelerated the streak. caterpillar, blowing away the numbers. have to raise numbers very big and mcdonald's has to stay on that that stock could very easily see much more to gain than just 3 bucks today. >> jim, thank you. see you in a few minute. >> thank you, melissa. great to see you. >>> tonight on cnbc, do not miss a new episode of "the profit." to keep our community safe. before you do any project big or small, pg&e will come out and mark your gas and electric lines so you don't hit them when you dig. call 811 before you dig, and make sure that you and your neighbors are safe. 811 is available to any business our or homeownerfe. to make sure that you identify where your utilities are if you are gonna do any kind of excavation

ronald mcdonald house charities of greater washington slow casing its new fitness initiative at the universoul circus. >> fedex field. brody what's going on. >> why aren't you in costume. >> jim thing that's going on we missed it but we did have a three person tower going on here. they couldn't hold it long enough. you guys just kept talking and we missed it. they're going to run it back. what we have going on here, it's outside the universoul circus. you can see the big top in the back in conjunction with the ronald mcdonald house charities, yes, see, this is the type of thing -- i think you have to be a profession inae this. normally i would try don't think -- i don't think i'm sure for it. so there's an obstacle course. any kid can come out here. you come through limbo then there's the rings of fire which are hula hoops, tomato sack race then a jump rope competition going on now. doing pretty well. and then on through resistance bands, there's yoga inside and this whole initiative is put on by ronald mcdonald house charities. i'm going to bring in karen torres of ronald mcdonald house charities who is putting on this event. so, why fitness with the circus and how did this

mcdonald's checks almost every box. i don't see why it couldn't continue, unless there's some kind of a big shift in sentiment away from high-quality or away from large-cap u.s >> okay, jim, back in april, you said that everybody out there should own alphabet/google the stock has risen 13% since then lucky 13 keep going higher? or sell it, take your profit, and move on? >> i keep it here, and i think you can buy it if you don't own it here. i think the big question here is, is this a value stock? i'm a value investor should i by investing in this stock? at 20 times forward earnings, i'm willing to say it is for two reasons. look at the peg ratio. 1.5. the other thing is frankly, the earnings estimates continue to go up. thaur going to continue to go up and that 23.5 times earnings estimates -- excuse me, multiple for next year's estimate is going to look lower when the actual numbers come in yes, own google here >> okay, sirott, talk to us about utx, united technologies, up about 6% since your bullish call >> i think one of the highest quality industrial companies out there. global exposure. you'll benefit from all their products it's got a new ceo and guess what, as the

. >> when we return jim cramer is going to join us live from the new york stock exchange. be sure to catch mcdonald'seo on squawk on the street today at 9:00 eastern before we head to break, emmet smith is in the house today. he was over there. i ran right through him. he's not like in the shape, i ran right over him when i went over there anyway -- that's not true. he brought friends along with him as part of a charity event it's a program specifically a multicurriculum for underserved students accessing and funding opportunities such as summer camp mentorship and unique experiences like watching ua x d we want to thank them for coming out ♪ we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. >> it's just such a long-term prospect when you get an order you make one of those things and i don't know how you know whether it's going to beat

they're ordering dominos pizza and taking out from mcdonald's, mostly they're hoping for red dead to come out. >> good or bad that the vix is an all-time low, jim so it's not a measure much complacen complacency. >> people who talk macro >> okay, jim see you in a couple minutes. >>> coming up on "squawk on the street," don't miss ups cfo rich peretz, that's at 10:10 a.m. eastern time a big e commerce deliveries for ups. we'll be right back. h? don't you mean dad kind of ruined our hawaii fund? i thud go to the thothpital. there goes the airfair. i don't think health insurance will cover all... of that. buth my fathe! without that cash from - aflac! - we might have to choose between hawaii or your face. hawaii! what? haha...hawaii! you might have less coverage than you think. visit aflac.com and keep your lifestyle healthy. aflac! chances are, the last time yoyou got robbed.an, i know-- i got a loan 20 years ago, and i got robbed. that's why i started lendingtree-- the only place you can compare up to 5 real offers side by side, for free. it's like shopping for hotels online, but our average customer can save twenty thousand dollars. at lendingt

mcdonald's, gm, caterpillar, at&t, facebook, ford, coca-cola, boeing, comcast, verizon, amazon, chevron and merck. have fun next week i'm not here >> unbelievable. let's get over to the cme. joining us now jimnstitutional services he is also a cnbc describe outer. can you sit in next week and help me with these, jim? now that becky's not going to be here or no? >> just tell me where to be. tell me where to be, i'll be there, joe you know i do that for you >> you going to wear that jacket, though >> do you like the jacket? you're just jealous of the jacket a little bit, aren't you? be honest. >> how are you we in terms of at this -- we're not quite -- maybe we're at a midpoint, maybe not on this quarter. but have you been gratified, and does it justify the move in the markets so far, the earnings >> well, those are two separate questions, i think yes, i'm very encouraged, i think the earnings have been great. i'm not really encouraged by how the individual stocks have done post-earnings particularly in the banks. but all about the bank stocks next week. those are the ones that have done the heavy lifting for a long time. so i see it this way yesterday, 24 hours ago, i took a day trade short