jon fortt?seema >>> meanwhile, apple set to report earnings later today with the stock already up almost 30% for the year for more, let's bring in managing director at goiogenheim rob, i think it hasn't been until the iphone 6 psych that will we saw apple stock rally so strongly into the announcement is that a risk for investors given how strong the stock has been and how weak relatively speaking the iphone has been >> there's always a risk, i guess. you have to sell the reaction. but we're expecting a pretty big iphone cycle coming up part of it is, as you said, you're coming off apple of two relatively weak iphone cycles. i think part of the excitement is just, you know, we're after two weak cycles you should have penlt up demand. and in combination, we're expecting a new high end iphone with new features. so there is actually more to get excited about this time than the last couple years. >> steve, do you feel the same way. how you are factoring in the risk for investors given that -- the sto

i'm carl quintanilla with jon fortt, sara eisner and with us is henry blodgett.zon officially closing its acquisition of whole foods google and walmart are teaming up on a voice shopping nasdaq slightly up this morning looking to avoid its fifth negative session in six. a retail analyst on yesterday who called the day of that announcement amazon/whole foods a day that will live in retail infamy now getting one step closer to -- they're going to close this thing in the second half. >> yeah, which is great. a lot of us amazon and whole food shoppers are exited another bold step from amazon. we'll be excited how they do it. >> how your characterizing the responses companies have >> you take your hat off to walmart. they're being very aggressive. they made a huge bet acquiring jet. they are being superaggressive it's a smart idea with google. does it immediately counter amazon no but the whole idea of ordering stuff through your home voice device, walmarts are something like an average of 10 miles or fewer to pretty much every american they've got this network in pla

i'm jon fortt. welcome to "squawk alley." with me, sara eisen and mike

welcome to soil soil i'm here with sara eisen and jon fortt.ning us this morning business insider, editor in chief henry blodgett, and -- >> it's 8:00 a.m. in headquarters, also at facebook, i understand >>> a lot to talk about, guys, first of up, some recent ipos, blue apron under our belts, not so good guidance on the second half, not as good as expected, stock is down over 10% >>> nap reports tonight after the bell we'll talk more about that tonight and after -- tomorrow morning, but for now, what does blue apron say the ceo has talked to us already saying there's room enough for amazon and us in this space. >> yes, but amazon takes a big bite out of it i think the market may be small are. it sounds cool, they bring all the stuff, but it turns out it takes a while to make the stuff, it's not nearly as convenient as premale food, which many options are going out. americans tend to like convenience. it's actually not that convenient so i think a lot of people try the product and say, eh, it's okay, going back to another way of doing it. >> i t

jon fortt, back to you >> thank you, rick santelli.nd the latest onhurricane rv, f haeyofthe coast of texas, when squawk al l"squawk alley" s stay with us and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. whuuuuuat?rtgage offer from the bank today. you never just get one offer. go to lendingtree.com and shop multiple loan offers for free! free? yeah. could save thousands. you should probably buy me dinner. no. go to lendingtree.com for a new home loan or refinance. receive up to five free offers and choose the loan that's right for you. our average customer could lower their monthly bills by over three hundred dollars. go to lendingtree.com right now. live-streat the airport.e sport binge dvr'd shows while painting your toes. on demand laughs during long bubble baths. tv on every screen is awesome. the xfinity stream app. all your tv at home. the most on demand your entire dvr. top networks. and live sports on the go. included with x

jon fortt has the morning off. we're watching the markets after yesterday's selloff.verage. >> announcer: pressure following the second worst day of the year for the dow and s&p 500. nasdaq coming off the third worst day of the year and on track for the first four week loss since 2016. bob pisani watching all of that on the floor bob? >> the question is are the markets in trouble here? the answer is not yet. but there is some cracks developing so we've seen something in the last two weeks we haven't seen in a long time a selloff last week and another one this week. that's starting to do some technical damage several elements have really come together. so first, there's leadership doubts about president donald trump emerging and the ability to get tax cuts through. traders have been alarmed by the dramatic decline of the small cap rustle 2000. it's down 7% from the historic high about a month ago so it's now flat for the year. with the s&p 500 up 8% for the year the russell is almost all companies with earnings in the u.s. so it looks like some are downgrading the hope

we're at post 9 on the new york stock exchange jon fortt has the morning off. the dow is down off the lows we did see some pressure this morning, particularly on stocks in the nasdaq continuing to underperform that index coming off a four week losing streak mid morning here, sarah, we won wondered whether we would test the lows the vix didn't manage to spike. >> that made somebody moderate selling pressure after two weeks of decline a lot of people also talking about the rustle 2000 index of small caps underforemaning down four straight weeks in a row. now also for the year, a lot of people saw that as the trump trade. the smaller companies that would really benefit from lower corporate taxes, for instance. as it relates to technology, it is still the winningest group for the s&p 500 for the year up 20% as a sector in terms of information technology and it's been an interesting story here that we've covered on "squawk alley. best performing stocks so far of the year, best performing earnings, no question about it something we saw during the obama era as well. t

we're at post 9 this morning jon fortt is off this week also joining us on the phone today from morgantownst virginia, is kara swisher. good to have you with us this morning. busy day this morning merk's ceo stepping down from the president's manufacturing council. we've been looking at that story. >> good morning. here's a statement from ken frasier of merck our country strength stems from the diverse & contributions made by men and women of different faiths, race, sexual orientations and political beliefs. as a matter of pefrnl conscious, i feel a responsibility to take a stand against intolerance and extremism. that resignation by ken frasier of merck did not go well with the president who put out a tweet shortly thereafter, really within the hour saying that now that ken frasier of merck resigned from the manufacturing ago council, he'll have more time to lower ripoff drug prices so the president going on the offense here against ken frasier and african-american ceo who has been at his side at numerous events at the white house here during the course of the president's nearly eight mon

"squawk alley" is live ♪ >>> good tuesday morning jon fortt is back with us finally.arah eisen and joining us this morning, robert w. baird, collin sebastian and ed lee good morning nasdaq is trying to bauns back from three days of loss this is morning. we're seeing pretty good action in the faang names that are leading the way. prior to this morning, it was a mixed picture for the basket of tech stocks. a mixed picture for faang and for the month, netflix down 9% alphabet and amazon are under pressure we've been having this discussion the last few days as they were having some trouble getting out of the gate. it is difficult for people to point to anything substantial. >> there is nothing big changing here, right? this is usual. i think people come the realizations as to what the future might look like for some of the services and i think that sort of tweaks the market a little bit >> are the name an atm for when sent gets a little jittery? >> well, i think that's likely the case especially given the strong performance for each of the names year to date at least ahea

we're at post 9 at the new york stock exchange jon fortt is off today joining us out west is generaltner paul holland a lot to get to with paul. good to see you, man first up, we talk snap reporting earnings after the bell dispinlted disappointed on revenue and growth stock is down this morning and currently trading down almost double digits, down 11% earlier today. a lot of discussion about daus not that they just missed but that instagram is able to add so many more to stories in the first half than snapchat has what did you make of the quarter? >> well, paul, i think the snap story is fascinating and complicated at the same time i think you've got people here in the valley that are sort of snap owe fish nad yoes and cheerleaders you have folks that are more on the facebook corner. i think what you thought a year ago, maybe even a year and a half ago, you really thought snap had momentum and had a chance to overtake facebook in part of its core audience. i think that whole strategy is very much in doubt now part of it has been, of course, instagram in particular is able to copy man

i'm jon fortt. welcome to "squawk alley." with me, sara eisen and mike santoli. >> carl has the morning off. we begin with our coverage of hurricane harvey, which continues to wreak havoc on texas and louisiana. the houston area alone receiving 20 inches of rain already with more to come the president is set to travel to texas tomorrow. we have team coverage for you. jackie deangelis is live in corpus christi, angie lasman monitoring the storm track at hq jackie, over to you first for an update. >> reporter: hi, there, sara it appears, at least for the moment, that the weather has calmed here and some of the dust is settling, but now there are a lot of questions with houston under water how corpus christi is going to get back on its feet, get power restored, get the plumbing going again some of these coastal towns were really hard hit over the weekend. we were in rockport. we spoke to some folks who were speaking to the solidarity of the texans and praying for those in houston, but we spoke to some who said we need help and w

because they declared a date for when they're going to be bringing us all that great stuff that jon fortt was just talking about, even though they can't get those air buds shipped and they can't keep them in stock but people do risk by being out of the market. it doesn't mean, and i do agree with josh and i bet everyone here on the desk that what you want to do is peel some off. i mean, if you were smart enough to get in and/or to not get shaken out, then you've got this very nice bounceback why wouldn't you take a little off? now, will you curse yourself a week from now if we're another 2 or 3% higher i guess so but i don't really make my moves based on those kinds of outcome. >> all right, so chris isley, good to see you again. welcome back to "halftime," at a time where a lot of folks were starting to talk about correction and here we are today with a nice snap back. does it -- where do you see us going here >> i just try to keep things as simple as possible you have five-year investment grade bonds at 2.1, 2.2% you have a ten-year treasury at 2, 2.1% you have a basket of diversified e

. >> let's send it over to jon fortt for a look at what is coming up on "squawk alley." >> we have atle rally on our hands. all the major indices up the dow is up 125. how are the faang stocks faring? this morning they're doing fine. facebook, apple, amazon, netflix and alphabet higher. they've been mixed in the past week ke tdohere a look at how ty' lilyo tlnch >>> there say fight in miami beach over the minimum wage. kate rogers is there with more >> as the national momentum continues to build in favor of higher wages nationwide, a battle is on going near miami beach. earlier this year a judge struck down a local ordinance to raise the minimum twij $13 an hour by the year 2021. that is $5 more than the state's minimum wage of $8.10. we talked with the city's democrat democratic mayor and he said living on $8.10 an hour in miami beach is not doable. >> how do you live you live because the government is going to help you they're funding you with subsidized programs, welfare programs, social programs. so basically the taxpayers are subsidizing the cost of businesses >> but for some sm

. >>> let's send it over to jon fortt and get a look at what is coming up. >> you know about the treasurytary. we're going to have box ceo aaron levy talking about the quarterer that company had it was rough the stock made up just about all of that loss found out where things are going in the cloud david? >> thank you, jon. >>> there's a new threat to activist investing and coming from a small town in wisconsin with only 250 people our leslie picker is in wisconsin and she joins us now with more on that story. leslie >> hey, david. that's right pretty much everyone here in this town knows what a hedge fund s every resident we spoke with blames activists investors for the closure of this mill you see behind me saying that it led to the decimation of their local economy. and in a few hours from now senator tammy baldwin will be addressing residence and reintroducing a bill named after brokaw it would require hedge funds to reveal stakes greater than 5% in a four day window rather than the current ten days they would also have to disclose short positions and say whether they're working with

. >>> let's send it over to jon fortt and get a look at what is coming up. >> there are all kinds ofays that people are trying to help out in southeast texas and the midst of this flood. social media and technology is one of them. we're not just talking facebook and twitter. we're going to check in with one of the hea othsoal twksomg updsf e ci policy. how much do you think it cost him? $100 a month? $75? $50? actually, duncan got his $500,000 for under $28 a month. less than $1 a day! his secret? selectquote. in just minutes a selectquote agent will comparison shop nearly a dozen highly rated life insurance companies, and give you a choice of your five best rates. duncan's wife cassie got a $750,000 policy for under $21 per month. give your family the security it needs, at a price you can afford. since 1985, selectquote has saved over a million families millions of dollars on life insurance. >>> take a look at stocks at this hour. they've come back from their earlier deeper losses. the dow still down about 15 points way down in part, guys, by nike after that dreadful earnings guidan

. >>> now let's send it over to jon fortt and get a look at what is coming up on "squawk alley." >> takingn further into what to expect from apple earnings. how much are component costs and inventories go to play into what plas tors are looking for from ape hey start to look ahead to the iphone launch for the holiday season that's coming up on "squawk alley. shopping. because sure, we want to use this to call the people we love- - like our directors. but mostly, to get the entertainment we love. maaaaark ! ! ! switch to at&t for the only unlimited plan that gives you 60 channels of live television on any screen all for $70 a month. your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance. >>> let's get to the cme group in chicago with rick santell

. >>> time to send it over to jon fortt for a look at what's coming up on "squawk alley." >> david, youue apron stock, down 11% the first report after the ipo snatch report is coming up we'll see how they're both faring, coming up on "squawk alley. >>> welcome back watching shares of adp, david, after that interview you just gave with the ceo, fiery, i think the highlight was comparing bill ackman to a spoiled brat. >> very combative carlos rodriguez, pulling no punches when it came to fighting back against mr. ackman's request for three board seats and request most importantly for the nominating deadline. he was saying he didn't have his homework done, and wanted an extension, and he said we don't do that here interesting choice, though i thought effective in terms of combatting i would add that once we got off camera, mr. rodriguez said he would be willing to meet with mr. ackman, or i should say, join him on tv. >> for a debate? >> for a debate, if mr. ackman chooses as well perhaps to do that so it's out there now. >> that's a dare challenge. >> not the first tv debate by a long sho

thank you very much, rick santelli now time to send it over to jon fortt, find out all the exciting thingsalley. >> maybe a couple exciting things google employee who said it's not safe to express conservative points of view, he's been fire after expressing a conservative point of view z this have implications for the company and investors? quk lemie dimon coming up on "sawaly. financial services right. but if that's not enough, we have 7500 allys looking out for one thing, you. call in the next ten minutes to save on... and if that's not enough, we'll look after your every dollar. put down the phone. and if that's not enough, we'll look after your every cent. grab your wallet. access denied. and if that's still not enough to help you save... ooo i need these! we'll just bring out the snowplow. you don't need those! we'll do anything, seriously anything, to help our customers. thanks. ally. do it right. >>> we have moran what we can expect after the bell and, of course, the key interview as well julia? >> thanks, david that's right, how disney changes the landscape and core cutting will lo