michael crofton joining us there.hank you both very much. >> let's just remind you where we stand as we go towards the u.s. open today. the iran bex down 5.4%. italy is down over 5%. banks are taking it on the chin as we have fresh record highs on yields across the curve for spain in the euro area. fresh record loss on treasury. >> exactly. i want all sets up for an interesting backdrop in which larry kudlow will be discussing politics, the economy and much more with mitt romney exclusively on cnbc later. you won't want to miss any of that. thank for tuning in. >> "squawk box" up next. p >>> good morning. today's top story euro crisis, european stocks falling sharply on the spanish bailout fears. libor scandal, prosecutors and regulators close to making arrests in the rate fixing probe. mcdonald's set to kick off another busy week of corporate reports. it's monday, july 23rd, 2012 and "squawk" begins right now. >>> good morning everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with andrew ross sor

crofton you're in the mid- 70s as well. still fairly muggy out there. here's a look at your michael & son weather camera. that's the white house back there. no lights are on because they're still sleeping. 80 degrees right now. mostly cloudy conditions. dew points still in the lower 70s. still a bit sticky out there. more storms are possible for late this morning, especially by this afternoon and evening. again some strong storms are possible. not as hot, though, today and through tomorrow. we're going to cool down and then more storms also are in the forecast for friday. here's your future cast. this morning should be dry for most of us. again a chance for a late morning shower, maybe a thunderstorm. but this afternoon we're still seeing some more showers and storms again. still the atmosphere is unstable so we could still see maybe some strong to severe storms. friday morning we could see showers and storms as well. the temperatures do cool off not only just today but through tomorrow and into your weekend. here's your forecast. we start in western maryland. oakland mid-70s. in cumberland mid-80s. winc

crofton. bethesda, you're at 75. gaithersburg, you're also in the mid-70s at this hour. here's a look at our michael & son weather camera. the white house still sleeping but a few more lights have turned on in the last 30 minutes or so right now mostly cloudy. 81 downtown. dew points in the 70s. it is still humid out there. so this morning more storms are possible, especially late in the morning. definitely as we get into the afternoon. some strong storms are possible as well. not as hot for today and through tomorrow. even into your weekend and more storms also are on tap for friday as we finish off the workweek. here's a look at your 9 futurecast. not worried about a whole lot of showers and storms but this afternoon and evening, we could see things getting a little more active as well. again any storms that we do see could have the potential to become strong or severe. and temperatures also not as warm today. looks like friday morning this model here picking up some more showers and storms as well. so tomorrow could be pretty wet. temperatures in oakland 76. cumberland 86. leersburg in the upper

crofton 68 degrees. a gorgeous morning. you can see that on our michael & son weather camera. look at that beautiful shot of the nation's capitol there or the u.s. capitol with the sun off to the left this morning. we've got temperatures at 73. dew points down to 60. humidity at 64%. a very comfortable north, northwesterly wind at 7 miles an hour. folks in the middle of the country wish they were here. high pressure sitting right here bringing more heat, more high heat, a hundred-degree- plus heat. big storms in minnesota this morning. behind the storm in new england, that's where it's bringing in the milder air. we'll have a beautiful day. you can see futurecast nothing coming our way today. going past roanoke you may run into a few showers late this afternoon. tomorrow a different story. we'll have the high heat in place. we'll bubble up some showers and storms in a couple of spots for the afternoon. i think a few more storms again on friday. so the forecast today northwest wind 5s to 10, 878 -- 5 to 10, 88, beautiful. maybe a few upper 60s tonight. we surge to 100 tomorrow

crofton. 74 here in alexandria. out west not much different. haymarket 70 and fairfax70. pretty uniform air mass out there looking outside on the michael & son weather camera it is dark and a little dewey on the lens there. a little condensation. 75 and national reporting mostly cloudy skies with a very light northeasterly wind at 3 and humidity is up once again. it is sticky. 84%. big time heat middle of the country. 111 in little rock yesterday. third highest temperature ever recorded. today 109 tomorrow 111 in oklahoma city. tulsa potentially 113 tomorrow and then as we head towards thursday even hotter. could be 110 to 115 in spots in oklahoma incredible heat. and a little bit of that is going to build toward us as we head to the weekend. we'll get back in the 90s but lots of clusters of storms right now for us gaysome isolated toed -- just some isolated to scattered is what we're expecting. yellow alerts for the thunderstorms here and there. tonight 88. a few areas in the upper 60s. tomorrow upper 80s once again with more clouds and showers and storms going to be more widespread than today. thursday though a stray thunderstorm 92.