. >> i'm seema mody in for sara eisen.head of her first single release in more than three years, we're throwing it back to the best of taylor swift you feel 22? >> i don't i feel 32. but i took one for the team for this throwback >> i'm a fan of hers excited to check on the new album. >> so am i before we look at global markets, let's go to the story that everyone is talking about we have a winner, one lucky t n person in massachusetts is roughly 7 $59 million richer today after hitting the powerball. that's a pretax number the lotto spokesperson saying the winning ticket was sold in watertown outside of boston. it's not clear who bought that lucky ticket, but they are the single biggest lottery winner in u.s. history i have not checked my numbers yet. >> it's important to do that just because there's a winner doesn't mean you don't have some money out there. >> on the way in, i was hopeful i could have won the whole thing until i learned it was bought in boston >> a lot of demand in new york ticket sales in new york toppi

everyone, on cnbc, i'm seema mody in from sara eisen. >> and i'm in for wilfred frost. e seema, a fantastic day, a lot coming up. >> a record high for the dow. take a look at how futures are shaping up here on tuesday morning. a lot of earning to look at, in terms of walt disney, priceline among others here on futures trading mix, dow jones industrials down by 2 points, s&p down by 1 point. a lot of fed seekers coming up we're looking at a ten-year field at 2.6%, so a bit higher >>> economic data out of china overnight, chinese missing expectations, the nikkei off by 0.3% and shanghai up by 0.1%. shaking that data caoming out of china. a bit of a mixed market. they've been hovering between gains and losses the dax in germany, you can't get more flatter the german dax, ftse, in uk, all up by 0.1 of 1% overall. seema, the economic data we'll talk about in just a couple minute but still not having that wailing effect that people thought it was going to have either in asia or europe >> it's interesting, the minors in the uk lower on that underwhelming chinese data we'll get

i'm wilfred frost along with seema mody this morning. now to the must read stories my picks in the financial times is titled "trump's rhetoric on north korea is a dangerous echo of pyongyang." shawshank joshy writing pong youi can't think must know that it will invite damage there's no problem in mr. trump saying so. but such threating must be delivered with solemn precision. this goes through when various leaders have drawn red lines or made threats in terms of rhetoric and whether they were successful or not. and the very careful timing precision with which they were worded clearly president obama made a red line threat which wasn't stood to and basically criticizing not necessarily the intention behind what president trump's been doing but the looseness with which he's done it on various tweets a good analysis of that and various other red lines drawn over the last hundred years or so >> the rhetoric is a key part of this story all right. my pick is on "the wall street journal. "new york's liberal subway war." the editorial board writ

. >> seema mody. >> we saw the s&p 500, up 0.6. encouraging given a lot going on last week. this morning we are pointing a little low, the dow lower by 22 points, nasdaq by 12, s & p by two points gasoline futures sharply higher, harvey knocks 15% of capacity off line more on that in a moment we've got gas prices up around 4% this morning. >>> the latest on the situation in texas following hurricane harvey these are pictures from the houston area, much of the fourth large city is underwater flood waters swallowing entire neighborhoods as they race to help stranded residents. here's the latest. more than 20 inches has fallen in houston in the past 24 hours, more expected in the coming days two deaths blamed on hurricane harvey more than 218,000 people are without power. some 13 million from san antonio to lafayette, louisiana are under flood watch warning. the white house announcing that yesterday president trump will head to texas tomorrow to survey damage. >>> we have full team coverage of this rapidly unfolding situation, contessa brewer is standing by in houston brian sul

i'm seema mody in new york. >>> why is the market not reacting to the north korean missile launch or even the devastation of the historic flooding in and around houston texas? jack avalon joins us to share husband thoughts. always good to have you, jack. welcome back to the program. >> nice speaking with you, sue. >> you know, it is curious to see the resilience that this market seems to be exhibiting in the face of the north korean provocations and also the flooding. what do you attribute that to? >> well, i think the main concern among investors this morning going into the market is, as you mentioned, that the market set the market at the open was down over 100 points in the dow and i think it was that investors worried what the -- trump's reaction would be. the fact is because he didn't take the bait, he more or less said, we'll see, and focused instead on houston and the devastation there i think relieved a lot of investors that this wasn't going to rachet up to something that, you know, would run out of control. so i think from that perspective things started to cool down, inves

i'm wilford frost. >> i'm seema mody. currencies are the big talker with a pronounced move in the eu euro trading at 1.20 against the u.s. dollar. the size and speed is now up over 5% against the green back in that time span. here, higher by around .07 of a percent. what is prevalent is not just today but when you take a look at the pound at the u.s. dollar. across august and the year of 2017, the dollar index down just about 10%. that, of course, has had an impact on asian and european stocks take a look at how we traded in asia the escalation in geopolitics, also, a big talker today and a big concern. we have seen many missile tests in north korea under the young leader, kim jong-un. japanese nikkei closing at a four-month low, a sizeable loss of .05 stronger yen not good for japan's exporters. hang seng lower by .03 >> surprising not to see bigger declines in asian equities but higher in the japanese currency. if we look at the european move in equities, sharply lower the fact that they are so significantly lower is a

i'm seema mody in for sara eisen. >> i'm dominic chu in for wilfred frost. we'll have the latest on all of that barcelona action. let's check what's happening with the global markets. we're seeing a reaction to what happened in barcelona and what happened yesterday in u.s. markets. futures pointing to marginally lower opens following on yesterday's big losses the s&p 500 opening up down 3 points if futures stay where they are the dow down about 11 points as for asia, we saw weakness there carry over from the markets. indexes mostly in the red. the nikkei off by a percent. the hang seng off by a percent the shanghai just about flat the kospi is off by 0.1% as for europe, negativity continues there. some major markets there, the dax in germany off by close to a percent. the cac in france off by over a percent as is the ftse 100 in the uk >> travel and leisure the worst performing sector in early trade in europe. >>> a massive manhunt is underway in spain for the terrorist who drove a van into a crowd of pedestrians in the heart of barcelona yesterday early thi

seema mody went to the launch event in new york. >> reporter: this launch is seen as samsung's redemption moment yes, samsung made the screen bigger and the new galaxy note 8 has two rear cameras for the company, it's about a lot more than a smartphone last your's global recall of 4 million galaxy note 7s was a black eye for the company. exploding phones went viral, costing the company $7 billion now samsung is hoping to extinguish those fears with one of the largest devices on the market >> i think it's a very sexy phone. i think it's a good rebirth of the note brand samsung has figured out a way to make larger and larger screen devices without making the device really large. they kind of invented the fablet category, because everyone laughed at large phones beforehand, and they stumbled terribly last year >> reporter: but one of samsung's biggest challenges is whether it can stand out from its competitor >> i use an iphone now, so i will hold out fo the iphone 8 or 7-plus i like to see what's out there before i make a decision >> reporter: apple is expected to launch the next iphone in

let's get to seema mody. >> european stocks following for a second straight day. by the travel and leisure sector following that deadly terror attack in spain remember, past terror events have impacted foreign travel to europe take a look at the airlines, discount carrier among the biggest losers along with international consolidated that is the parent of british airways and spanish airline iberia air france lower by 2% as well as for hotels, melia of spain is down 2%. intercontinental hotels also lower down by .7%. if the travel and tourism companies that are feeling the pain tui, thomas cook under pressure. tourism, an important part of spain's economy and making up about 11% of the country's total gdp. according to the travel website, barcelona is the fourth most popular european summer destination behind paris, rome, and dublin we'll see if travel trends will be impacted by the latest barcelona attack carl, back to you. >> seema, thank you so much. seema mody back at hq. let's get a news update with sue herrera. >>> thank you very much. here's what's happening

i'm seema mody materials standing ow as one of the leading s&p 500 sectors. this as copper hits a fresh all time high here in early trade. freeport is the top performer up more than 3% the rally in copper prices also helping lift emerging markets. some of the commodity producing nations like brazil getting a boost from copper's climb. in fact, the brazil market is up 2% hitting a six year high now we'll send it back downtown for the start of "squawk alley." >>> seema, thank you good morning it is 8:00 a.m. at facebook headquarters in california 11:00 a.m. on wall street. "squawk alley" is live ♪ >>> good tuesday morning jon fortt is back with us finally. sarah 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 un

. >> thank you we'll send it back out to hq seema mody with the european close. another strong euro day. >> true. european stocks as a whole beginning the week in the red. and we're paying close attention to developments in spain you heard about that with sue her air yachlt we saw volatile moves today and we'll continue to monitor the situation closely. down just about .2%. moving on to m & a france's total agreeing to buy ap muller maris oil and gas business it's a $7.5 billion deal total says that the acquisition will strengthen the north sea operations as well as boost earnings in cash flow. they say the deal will allow the danish shipping company to focus on the core business both stocks are higher fiat chrysler switching to auto. sharply higher denying a report that they're drawing buyout interest in china's great wall motor. shares of fiat have been on a terror since a report last week saying an unidentified well known chinese automaker made an offer earlier this month that stock up p 7% keep in mind, china's m & a already down 40% this year compared to las

seema mody has that story.ap and unsophisticated, thanks to smart rebranding, rose wine is in fashion, becoming the quintessential drink of the summer. >> i feel like we're going through a peak right now. and there's also a great variety of roses, different styles, different colors. and people just want to try new roses. >> reporter: sales are up 60% over the past year. it's become so popular this mil ran out of their sibt sumner a behind the strong demand? think pink. it's the color, packaging, typiy cheaper than champagne. and in a very modern twist, social media buzz has also contribu the use of catchy hashtagve instagram, so much that two millennial women started their own brands selling roses, apparel and >> every year we double our sales. >> key customer is women mostly. >> just the right amount oft. >> we've been actually freezing it. >> it's been hip for a few years now. >> and experts say as rose wine evolves, demand will continue. canned rose has been a big trend. in fact, sales of the broader canned

the world's largest hotel chain reported income up 68% but shares fell on the plymouth forecast seema mody has more. >> marriott, the world's largest hotel chain reporting better earnings, much higher than what the team was expecting revenue also a beat at $5.8 billion but i also want to draw your attention to net income second quarter net income totals $414 million a 68% increase over the prior year period. management says a lot of this has to do with strong performance in asia-pacific and europe the company pointing out some strong markets like shanghai, barcelona and london asia has been the big focus for marriott today the big news that the company is signing up with this joint venture with alibaba the stock is up higher, already 45% year to date, making the best performing hotel stocks this year. back to you. ♪ >>> ey says, quote, unprecedented market disruption is pushing companies to divest over half of the firms surveyed by ey said global and political insecurity drove sales diversity leader at ey joins us to discuss the support of the rest of the industry and divestments for 2017

seema mody is out there where the launch took place earlier today. rter: the big challenge for samsung is regaining consumer confidence after the tumultuous global recall of the note 7 last year a pr nightmare it cost the company billions of dollars. as part of samsung's comeback strategy, it unveiled the galaxy note 8 here in new york, a very flashy event they rolled out the red carpet for investors, analysts and tech enthusiasts. it's a big screen. 6.3 inches much higher than what's in the market right now a powerful camera. that got a lot of buzz today optical image stabilization. a dual-camera lens the price point, well, it will cost you reportedly over $900 depending on the carrier that you have keep in mind, this phone also comes with a nifty accessory, the specialized "s" stylist pen. the question is whether tit's enough for iphone users to switch here is what one iphone user told us. >> i use an iphone right now it's likely i'll switch to whatever the next iphone is, be it the 7s or 8 the note 8 has given me reason to reconsider that it is a b

let's go to seema mody >> reporter: the dual-lens is being unveiled with samsung in the launch of they 8 two 12-megapixels on the back of the phone. this increases the picture on the phone, especially in dart-lit settings. and the overall functionality. something samsung tried to make a point of in the presentation the sheer size really notable as i hold it in my hand 6.5 inches, making it one of the largest devices on the market, much larger than the apple iphone 7-plus that measures around 5.5 inches. but samsung says this makes the phone more functional, more versatile, also the ability to multi-task in fact, if you go to the home screen, you can see there's multi-window mode, which basically means you can launch two apps simultaneously. right now here on my phone, i have the google maps and google music. what is also notable is the s-pen, which has been enhanced, great for notetaking of course, the whole event has been seen at samsung's redemption moment after the note 7 recall last year the big challenge will be not just today's event to see what customer reception is like, but a

. >>> europe closing as we speak let's get to seema modi at hq >>> we're keeping a very close eye onry out of barcelona. meantime, the decline is being led by a selloff in the banking sector after yesterday's release of u.s. fed minutes raising questions as to whether the central bank will raise rates again this year. tis istoxx index down 1.5%, the euro falling to its lowest levels in the month following the release of the minutes from the ecb's july meeting minutes they show policymakers expressing concerns about a possible overshoot in the eurozone currency which could impact the ability to boost inflation. look at the uk because britain's chamber of commerce out with data indicating exporter confidence softened due to currency fluctuations and a shortage of skilled workers post-brexit. as for consumer uk, retail sales up 3%, matching a downwardly revised june figure. food and household items were the only sectors showing growth. the pound at 1.28 against the greeneback kingfisher down 4% after europe's largest home improvement chain, not the beer company, posted a revenue miss be

that means the european markets are closing up seema mody back here with the european close good morning>> in the move and global assets, it does suggest that north korea is starting to be treated as a real threat this wasn't any missile test it was the first missile test that crossed over japan. the first one since 2009 in response to the flight to safety the german dax off the lows but still seeing one of the worst days of the year the outside reaction certainly part of the story. today they said the rising euro is almost certain to have an impact on exports and the trade surplus. perhaps alleviating tensions with the white house which has been trying to reduce the deficit with trading partners like germany meantime, take a look at the euro a big talker of the day up now up -- excuse me, trading at $120 against the u.s. dollar. and in term of where we saw the selling in terms of the european equities, selling in banks, that was a prevailing theme today commerce bank, deutsche bank among others down about 1 to 2%. the german ten year yield is falling at 1.3%. gold trading around the hig

that is the news update this hour >> let's get over to seema mody at hq. >> take a look at the screenstarting august after posting two consecutive months of losses we're look teg german dax. up 1%. it is a key lagger the euro, remember, stocks are down 1.p 7% over the past month. italy the standout of 4% and the banks and nonperforming. and there is growth accelerating at the best in five years. >> they're rising to 2.1%. that according to euro stats this as the ecb is expected to discuss. the currency and euro and the highs against the dollar but still the green back which really getting a lot of attention is the british pound hitting its highest level against the dollar since mid september on some data manufacturing showing strong growth in july helped about it biggest jump in export orders since 2010 $1.32 against the u.s. dollar. let's talk earnings as well. bp with a second quarter profit. oil prices and cost customering helped the bottom line and take a look at rolls royce a first half earnings beat, the aerospace, defense company citing increase in production and keep in mind t

our seema mody. >> about 20 minutes to go in a weak session today dow is down 211. at the lows we were down about 225. >> at that time our research staff is telling us that is that would be the worst day we've seen since may 17th so we're going back a few months there. we'll see if we get any sort of comeback as we head into the close here. >> hedge fund manager bill ackman is laying out his case for the proxy battle for adp as he tries to get a seat on that board. all of those details after this. ? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade. >>> all right. the selling is intensifying. the dow down 241 points, a decline of is.1% we're now seeing the worst day since may 17th, and as we've already esta

. >> seema mody is here. >> we're off the lows.tocks are higher mostly across the day following their best one day performance in almost a month. the german dax though giving back some of the gains from friday's rally there is data showing a surprise decline in german industrial production down 1.1% in june seasonal factors, mostly to blame. in fact, the german economics ministry noting the drop comes after five consecutive monthly increases. taking into account a 1.8% gain in the second quarter. the ministry believes the upward trend in factory outputs will continue let's take a look at miners rallying today helped by fresh increases in the price of iron ore and other commodities. keep an eye on glencor the company is due with earnings later this week. that could be a pivotal moment for the mining sector. keep in mind the stock's resources index is up 9% so far this quarter that is outperforming the overall european stocks 600 index by a wide margin china being the big story there. let's also talk retail in the uk that is certainl

. >> sue herera, thank you very much let's go to seema modi with more >> the banks are among today'sers we'll look at standard charter of the uk down sharply this is an emerging markets bank not ready to start paying dividends again. that news overshadowing the 82% jump in first-half profits that stock down over 6%. and then societe is posting earnings in equity trading in the second quarter and stocks are moving lower despite quarterly results to exceed forecasts no change in guidance is disappointing investors. keep in mind, ferrari is one of the best performing stocks in the index up 60% year to date. >>> let's also talk tech apple's upbeat earnings and revenue guidance giving a list to u.s. and european suppliers take a look at the dialogue from ams that specializes in sensors with the stock up over 4%. >>> and currencies are in focus. the euro breaking 1.18 against the dollar, the highest level since january of 2015. the uk pound also in focus hitting an 11-month high versus the greenback. bank of england kicking off the two-day policy meeting and it seems like policymakers are

. >>> all right, european markets just closing seema mody is here with us at the nyse to run throught for you. >> hey, mike wuns again, the currency market that's getting a lot of attention, the persistent rally in the euro, now spiking to a fresh 2 1/2-year high. just look at the chart 1.19 against the u.s. dollar many analysts now calling for 1.25 when looking at the euro/dollar. an active discussion on european corporates after draghi did not talk down the strong currency at jackson hole on friday also helping the euro is italian economic confidence is at its highest level in ten years as unemployment has been on the decline in italy in fact, italy now the best performing g7 stock market in 2017, up about 13% or more but busy day on the economic front for europe, or weak, i should say german inflation on wednesday. we'll get the broader eurozone inflation number on thursday, followed by a read on european manufacturing on friday. markets in the uk are closed for bank holiday, but the third round of brexit negotiations kick off today prime minister theresa may trying to carve out a

seema mody is breaking it down. >> reporter: shares of marriott moving lower by 2% after hours followingng guidance th short of expectations. the company's push into international really a key focus during the conference call when it were tan pertains to ee euro/dollar country has had a role >> improving economic growth and greater u.s. demand driven by the stronger dollar. as a result, europe's rev par rose 7% on strong performance in the second quarter >> reporter: sorenson focused on the new tie-up with allibaba saying china outbound travel is growing. visa processes, to facilitate travel many chinese are traveling on their own versus in groups marriott continues to increase the number of hotels in shanghai and across the mainland. in terms of stock performance, the stock is down after hours, but this has been a bannermarri outperforming peers, hilton and hyatt among others. >> thanks so much, seema moda marriott is down in the after hours but the hotel chain still up 28% so far this year in a year when it and other travel stocks have been basking in paradise cruise lines some of the

but in the meantime, let's get to seema mody with the market flash. seema? >> hey, brian, i want to draw yard attention to the dow transports index near such a low, down close to 2% the index on pace for its worst day since july 27th. all components trading in negative territory airlines leading the declines. american, delta, southwest, alaska among the key laggards. and take a look at shares of jetblue, down by the most, off by about 4% on pace for its worst day since july 27th. morgan stanley cutting the airline's price target to $23 a share, but maintains an equal weight rating. overall, transports are up still about 2% so far this year. but clearly, a tough day guys, back to you. >> thanks, seema yeah, i should note, every single component within the dow transports right now is in the red. we've seen a slightly stronger dollar that certainly has an impact but also, perhaps no more than any group that's publicly traded these guys stand to benefit the most from fiscal policies. tax reform, insure spending, you name it, they've been lagging for the past mon

. >>> let's get a market flash with seema mody. the u.s.r hitting its lowest level against the euro in more than 2 1/2 years. it's another fed rate hike happening, also the expectations of the european central bank scaling back, following better than expected growth data. melissa, we're looking at the euro seema, thank you >> a slightly read steve liesman joins us with the details. >> at 188,0078,000, that's stila strong reading june payrolls revised upward by gdp, so that's 191,000 for june. the good sector in july up a bit, but services doing stronger at 174,000 there's the non-farm payroll estimates which we get on friday wall street is looking for a decline from the strong june report of 220 so any number over 100,000 that could be enough to bring down the unemployment rate here's where the jobs were pretty broad-based here. manufacturing having a bad month, according to adp. we'll see if that's right on friday >>> warehouse versus retail jobs, it looks more and more jobs that helped consumers in brick and mortars have become order-fill

i'm seema mody materials standing ow as one of the leading s&p 500 sectors.as copper hits a fresh all time high here in early trade. freeport is the top performer up more than 3% the rally in copper prices also helping lift emerging markets. some of the commodity producing nations like brazil getting a boost from copper's climb. in fact, the brazil market is up 2% hitting a six year high now we'll send it back downtown for the start of "squawk alley." >>> seema, thank you good morning it is 8:00 a.m. at facebook headquarters in california 11:00 a.m. on wall street. "squawk alley" is live

first to seema mody who has been seeing the world all day through rose-colored glasses. >> hi, brian,nial women are saying yes way to rose. we'll tell you what's behind the rose wine craze and who is profiting off of this boozy trend when "power lunch" returns. [pony neighing] what? hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade. >>> it's time now for trading nation, and let's take a look at act vision blizzard. one of the best performing tech stocks in all the land up 70% year to date. quite the run here we've got matt mailey and mark temper mark, would you own it or sell it right now >> i think we'd be owners. act vision is a really intriguing play. the growth opportunity is

. >> let's send it over to seema mody for another quick earnings alert. ch and sequencing illumina shares higher earnings 82 cents adjusted, well above what wall street was expecting and sales topping analyst estimates. the ceo souza says expectations of nova exceeded projections stock up, wow, 9% here bill >> yeah, wow thank you, seema see you later. so apple is up about 4%, a little less than that after reporting the earnings 4.5% now it's moving higher up next, a shareholder weighs in on the results and whether he's tethed to buy on the nbe seumrs afr is ♪ there's nothing more important than your health. so if you're on medicare or will be soon, you may want more than parts a and b here's why. medicare only covers about 80% of your part b medical expenses. the rest is up to you. you might want to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any medicare supplement insurance plan, these help pick up some of what medicare doesn't pay. and, these plans let you choose any doctor or hospital that ac

meantime, bitcoin has gone the other way surging above $3,000 more than tripling in value for the year seema modywith what is behind the recent moves. it's always tough to explain what's behind the bitcoin move. >> it's tough. we have been speaking to a number of analysts and those considered experts in the new emerging asset class, as we call it it broke 3,400 today a new record high for a bitcoint being attributed to a' le relie rally. last week was a big moment for bitcoin, a software upgrade which resulted in a split. so there are two competitive currencies in the bitcoin world, bitcoin and bitcoin cash thankfully at least for the bulls, bitcoin held on to its value. there were no technical difficulties that's why this has been seen as a relief rally one of the reasons we've seen bitcoin move higher. it's gained about 6 $600 since friday it's up over 400% year to date the question is, if it can move any higher i mean, there's a big debate among analysts as to whether central banks, governments will really start to embrace bitcoin and use it as part of their digital infrastructure i mean, i at

. >> let's send it over to seema mody for an earnings alert. >> kelly, we're looking at la-z-boy, the21 cents versus the estimates of 29 cents so missing street expectations on its bottom line. ref now at 357 million which came in a bit light as well and in response the stock is down more than 12%. in the press release executive management says that they are disappointed with the start to the fiscal year. lower volumes made it difficult to absorb higher costs and as a result a pull stream margin suffered when it comes to competition, kelly, you think of amazon target among others in the furniture space and take a look at wayfair, up about 92% year to date one. other low-cost furniture players, if you will, in this space. back for you. >> yeah, that's a tough one for la-z-boy seema, thank you very much, 12.5% drop. >>> unclaimed property law in delaware has left two investors out $12 million. how it happened and the broader implications are coming up but, first, trump's team is reportedly making big strides on tax reform, and according to politico lawmakers are looking to former repres

seema mody >> okay, now to sports the olympic torch coming back to los angeles.s reached a deal with the international olympic committee to host the 2028 summer games that agreement clears the way for paris to be awarded the 2024 olympics part of the deal, the ioc will advance $1.8 billion to l.a. in recognition of what's now going to be an 11-year planning period, and to increase youth sports programs. l.a. has hosted the olympics twice before in 1932 and 1984 we should say 1984 was, i believe, the most profitable olympics in history. historically, most of these cities have lost enormous amount of money, and part of the pitch that l.a. made was actually the sustainable and reused many of the things you're looking at a shot of the coliseum right there, and the coliseum will play a major part in that olympics >> when the 2018 olympics are? >> excuse me >> do you know where the 2018 -- >> in seoul. >> south korea >> yeah. >> right next door >> are they thinking about that at all >> you know, it's -- for south korea it's always been a binary situation. >> right they