strauss zelnick from take 2.>>> keep an eye on the chips, nvidia and amd lower this morning. every constituent in the smhtep lower. despite the raise of a price trargto target to 925 from 700 this morning meanwhe e oailthbrd are nasdaq is down about 0.1% we'll be right back. >>> tonight, president biden speaks out about the drawdown in afghanistan and the end of the nation's longest war but rowe plus the latest from tokyo, covid a ♪ watch the olympic games on xfinity ♪ ♪ root for team usa and feel the energy ♪ ♪ 7000 plus hours of the olympics on display ♪ ♪ with xfinity you get every hour of every day ♪ ♪ different sports on different screens, ♪ ♪ you can watch it anywhere ♪ ♪ and with the voice remote ♪ ♪ you never have to leave your chair ♪ show me team usa. ♪ all of this innovation could lead to some inspiration ♪ ♪ and you might be the next one to represent our nation ♪ ♪ this summer on your tv, tablet, or any screen ♪ ♪ xfinity is here to inspire your biggest dreams ♪ >>> we mentioned far fetch earlier. loo

i am so happy you didn't go through it. >> yes. >> but worth it because strauss says this contraptionfuel his farm. >> the cows are, essentially, powering the truck that feeds them so it's closing a loop. >> reporter: he says it took him eight years to convert his old-diesel truck to electric. and with the help of bmw, it is one of the first all-electric feeder trucks in the world. >> why isn't this on every farm? what has to change policy wise? mentality? >> actually, proposals in the biden administration around having each farm in the united states have a carbon-farm plan. >> reporter: unlike drillers and frackers, farmers don't need retraining to become allies in the climate fight. by growing a lot of different forms of life, instead of just one, big crop, carbon dioxide gets sucked from the sky and locked in the ground. but before we can pay a family to do this, you have to be able to measure how much greenhouse gas goes down and how much goes up. in europe, they're experimenting with methane-catching cow masks. tough to provide for over a billion cows. but one of the ideas straus

. >>> watch shares of levi's strauss. the latest set of earnings beating wall street forecasts coming in stronger than expected. they expect a strong second half of the year as demand for its jeans, tops and jackets rebound. levi's ceo saying, quote, about 35% of consumers have changed waist sizes and some of it is up and some of it is down, but either way creates another reason for people to update their wardrobe. the company is benefitting from collaborations with brands like valentino and a push forward towards online and digital sales. >>> amazon has signed a deal with comcast to show movies on prime video and imbd stream services. new releases will show up on prime following a four-month run on peacock. they will be available on amazon for about ten months before returning to peacock for another four months. hopefully you can keep track of that and our viewers that are watching aren't some of those that saw the jeans size go up. >> mine is going up, but it's going down. >> it's all muscle. >> good for you. >> thanks,

on the earnings front, levi strauss set to report.trong one. the street is expecting a strong quarter from levi strauss. analysts expect earnings to grow 143% the shares have alternated between gains and losses in response to those beats. ubv analyst noted searches for the categories are rising double digits with jeans leading up 200% year over year. the direction of consumer's business and women's, both areas with growth potential. we've talked about this before i'm still on the hunt of the pair of jeans i'm supposed to be wearing now. skinny jeans are out, baggy jeans look ridiculous. >> there are ones tight on your thighs but looser so they're in style. i can give you tips. >> i feel like i've been buying a lot of jeans. >> levis are very in >> very. >> they've done partnerships with rebound which is a hot, trendy band. >> what i'm hearing is a confirmation of my long standing prediction that is a rotation out of at leisure into denim. >> it's not rotation out of at leisure, they're both working. people are buying both you have to

we are back with our panel, dan henninger, kim strauss and allysia dimmick.that i hear the word white has pumped more oil to the saudis, doesn't that violate every climate doctrine? >> yes, it does. but it doesn't do is it helped biden ministration politically which apparently matters more. what we know from every white house they get most nervous when they have pocketbook issues affecting americans that's why you see from the white house get nervous about inflation they are concerned about rise in gas prices and private infrastructure negotiations have a redline or anything new, gas taxes or electric vehicle user mileage taxes, they didn't want anything to hurt the pocketbook and that well and good but it does put them in a situation where what they say about what they want in terms of policy is completely opposite from the reality they are asking people outside the nation to drill and drill and drill more. paul: allysia, let's go through that, what is the administration doing to reduce production of oil and gas in the united states? it's an explicit goal th

levi strauss any other year levi's would be a back to school play.nce among young people it shots the lights out. imagine a forecast for the second half. 28 to 29% sales growth chip seemed naturally bullish about the long-term denim cycle than i ever heard him when i interviewed him last week on squawk on the street chip was unbridled in his enthusiasm and the company has been a beneficiary of waste inflation. if you spent the last year and a half inside wearing sweat pants you might have sized up. more business for levis. waste lines changed on 35% of us during the pandemic. isn't that extraordinary the stock barely budged. $28 at 30. i think you should buy it here and now before the checks hit bank accounts. there is no new info i like that. child tax credit winner number two, american eagle out fitters. we started to recommend this last october and since soared more than 140% i think the stock has more room to run and it is getting ready for the next move. is that is why we bought it for the charitable trust american eagle has a ton of denim expos

. >> reporter: data from previous strauss shows he waves can make conditions up to 25% worse than they would've been otherwise >> if it is a strike is this year which is next year it would be highly unusual but possible. we will see much more mandatory th cod come sooner rather ies. than later. he's talking about mandatory state wide water conservation restrictions. smaller water districts and northern california have already done this with some encouraging people to report wasteful neighbors. a study showed waterways complaints actually do increase conservation and can help manage a drought emergency. >> if people know that their neighbors are looking and they can be reported, it makes it less likely they will engage in that type of xavier. >> reporter: california is familiar with a culture of drop cooperations. a lot of lessons were learned since the 2012 drought. >> there is a permanent change in water sufficiency that came from that. >>> let's talk about this heatwave. we've got one more day to look at a map and experience the heat that the map was telling us about before things st

. >> peter strauss, and san francisco transit riders. as you know, this is a regional project as well as one that has statewide significance, and i want to acknowledge the potential financial support of our partners, specifically caltrain and high speed rail. i do encourage them to match their contributions to san francisco's. m.t.c. needs to demonstrate that it shares our commitment to this regional priority. if r.m.-3 funds are frozen, we need to commit an interim funding strategy to parallel commit to tjpa partners. we look forward to regional support of this project, and we're not seeing that. we look forward to completing this project as expeditiously as possible. thank you. >> thank you. >> clerk: hello, caller. please state your name, and your two minutes begins now. >> hello. my name is [inaudible]. while located in san francisco, the downtown extension will be the crown jewel of our future regional network. it will enable people from the region, the megaregion, and the state, to come downtown. this is key to maintaining our plac

is initiating coverage of the apparel and brands sector with a buy rating on lululemon, yeti, levi straussst covid recovery period has been supportive for apparel and brands continues small growth and margin expansion one word of caution. the note notes the sector has outperformed the s&p so far this year investors should stay selective on certain stock names. >>> coming up on the show, investors gearing up for big bank earnings as john nagerian if you have not already done so, follow our podcast if you miss "worldwide exchange" check us out on apple, spotify or your podcast platform of 'lbece wel right back here on "worldwide exchange. need better sleep? try nature's bounty sleep 3 a unique tri layer supplement, that calms you helps you fall a sleep faster and stay a sleep longer. great sleep comes naturally with sleep 3 only from nature's bounty >>> welcome back to "worldwide exchange." back to the markets as well. we have a market with the dow jones implied lower by just about 6 points call it flat at the opening bell if the futures moves hold. the s&p is implied higher by roughly 3 to

strauss zelnick straws zeal economic urance for members like martin.mage. that's how you do it right. usaa insurance is made just the way martin's family needs it with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. ♪ usaa ♪ >>> welcome back to "squawk on the street". i'm dominic chu. nearly every sector is trading in negative territory as we monitor this moaning's selloff defensive sectors like utilities and real estate, these groups tend to fare better when treasury yields come under pressure so keep an eye on those. more "squawk on thstet" e re ahead. keep us right here after the break. cynthia suarez needed to buy new laptops for her growing team. so she used her american express business card, which lets her earn extra membership rewards points on purchases for her business. now she's the office mvp. get the card built for business. by american express. ♪ ♪ ♪ ♪ ♪ ♪ hey google, turn up the heat. ♪ ♪ ♪ jerry is here! j! mate, how

. >>> shares of le vv strauss are higher the ceo revealing on the earnings call that 35% of customerspan pandemic some up and some down. i'm betting mostly up. forcing people to go out and update wardrobes also styles have changed >> i'm hanging in there. >> skinny jeans are out. >> that's good i got lululemons >> those have elastic? >> no, no. a zipper for your wallet in the back they give a little you give a little, you get a little i was going to share something with you that is because i went back to my guy at lifetime the trainer. we compared actual weight. when you factor everything else out. it is three pounds >> you gained? >> yeah. it's not bad with each year, with each passing year, you gain a pound when you get above 50 years old. >> is that like in dog years, it is gaining 50 pounds >> i feel fat. i will tell you i was fat before >> no. >> i'm not morbidly obese. i come close to qualifying it is much harder. >> standards >> it's not the end of the world. >> if you were to wear jeans -- >> i wear jeans every day. >> i thought -- >> in here i have skinny ones i still wear. s

levi strauss is pretty much it.ou talk about the apples, the amazons, the microsofts, you talk about all those cyclical names, airlines, travel stocks, material stocks that had is at all-time highs, all of them down today. you wonder if this is that pullback, if this is a correction and it just ends up being a reset. jonathan: is that on the edge of doom there? tom: romaine bostick is a wonderfully optimistic person. it's because he is sitting in that chair, the gloom just comes. jonathan: he alluded to something quite critical. this is not new. your 10 year yield topped at the end of march, breakevens topped in may. i want to sit on the airlines for a moment. american airlines is 20% off the highs of earlier. this summer is not the -- of early june. this summer is not this summer we imagined 12 months ago. the idea that this london-new york corridor is not fully functioning. i had a friend fly yesterday and i had a picture of the cabin. in coach, their work two people -- there were two people in the whole cabin. to

joseph strauss. >> strauss, all right, all right, let's take a look at this david this is how alien teche to people the reason why people like this deal is because of cbccaas people are calling it -- well, it's actually ccca -- it's cloud-based context center as a service. >> cloud based contact center as a service. in other words, it's cloud base native, ask david, the go to market strategy is excellent >> got it. >> over $24 billion tam. >> yeah. >> that's how this deal is being sold itto people. i think zoom needed to have another way to attack and they got this i want to see how ryan trollop does as the ceo. >> yes, but he's going to move and run this unit as a unit of zoom. >> he ran the cisco unit, and then he ran to this. eric dewan very similar, by the way. these are very smart guys. >> no relation to the author trollop, right >> i did that the first time he came on. >> did you >> i said are you related to trollop, and he thought it was not funny one bit. it was a real bomb i should have just -- i shuf moved on. >> i think it's always worth going with the literary references. >>

attorney for the southern district of new york audrey strauss said in a statement, quote, as alleged,itored and planned to kidnap a u.s. citizen of iranian origin who has been critical of the regime's autocracy and forcibly take the victim to iran where her fate would have been uncertain at best. those four men remain at large. they did not identify the victim and declined to comment to cnn on the case. but my next guest says she was the target of the alleged kidnapping plot. she joins us, amasi amenajad. we reached out for reply, by have not heard back. >>> good morning, i'm glad you're well. how did you find out about this plot? >> i didn't know about the details. first of all, i have to say that the details were shocking. i just learned about them last night. but, the fbi came to my house about eight months ago and they were telling me that this house is not safe for you, and i was like, you must be kidding me, because i receive daily death threats. what's new? i'm here in america. they cannot do anything. then when they showed me the photos of my private life with my husband, my s

charles: so, we had the ceo of levi strauss, i think they reported yesterday or friday. saying that they thought that they would have pricing power to make the numbers stick. overall, are you, what camp are you in? are you in this transitory camp which has its own definition depending on person or in the camp there is enough stickiness that inflation is an issue in 2022? >> i don't think it will be a big issue. all us equal, it might pull forward some of the normalization and monetary policy we've already seen the fed hint at that i do think most of this phase will run strong this year. these semiconductor shortages and shipping container costs and bottle next aren't going away instantaneously. it is going to take six to nine months for that to really catch up. next year we should see more of the normal drivers of inflation that would tend to be concentrated in rents and other service prices if the economy normalizes. somewhere in between. definitely transitory, reopening pressures. the fiscal impulse made consumers less price sensitive than they typically are. so they'r

we used the top peacock executive came from comcast cable, matt strauss. so there is a -- we're one company and it is functioning extremely well i think we have the scale. we don't feel we need to do m&a. what we think we can do is look for ways to grow organically, which is what we did this quarter, and we have been doing all year and also if there is partnerships that can accelerate streaming particularly internationally where nobody has all the peace parts unto themselves >> 54 million signups. >> that's up 50% in 90 days, the monthly actives. what that means is people who are using the service or subscribing to the service, that's being powered by a lot of different ways, one is movie like "boss baby," if you're a peacock customer, you get "boss baby," a new show like "dr. death," fantastic residents in the last few weeks. but the olympics and some day our hulu content, which is our premiere content from television is pledged to hulu eventually probably that will come back to peacock in some form and then new movies and new content like yesterday or a

take a look at levi strauss, not only is it up, but all the other retailers. magnificent. 99 4% beat -- 94 beat earnings. will it move the stocks? >> the expectations keep getting notched up. if you look at what sachs is saying, they moved it up about 18 points. levi did really well, and i think that's why they're being rewarded. companies are going to have to come out, expectations are high. they're going to have to, obviously, beat. but i think a that forward guy dance as you know, is going to be the most important thing. especially as we're hearing about this new variant of covid is. we saw retail earlier get beaten up. people forgot about that because of levi, but let's see what happens with that continual downbeat of what we're hearing about covid right now. charles: we always talk about guidance, i think the revenue number's going to be important. we've got to show some strong revenue growth particularly quarter to quarter. what about big banks? they're the ones who are going to be dominating earnings numbers next week. the financial sector has been the

i walked up to the front door of len strauss and i felt like that's the white house you can see it and you could feel it. but you did see the three levels versus what our eye of the white house we'll see is too from the north side of pennsylvania avenue, although they're actually six levels. side the white house. it's a little bit deceiving but i understand that george washington increased the plan size by 20% but hoban. lowered it from the three visual levels to two. what was the ballots between those two decisions and won't you suppose was the conversation between the two and the result that they intended? well, uh the increase of what to 120% of the original plan size was indeed something that george washington suggested after seeing the original plan because it was afraid the rooms would eventually be too small for the presidency, but it was also indeed hoban as you said who suggested that the house lose a story that basically one of the floors be taken out and the reason he said this was because he was afraid of the cost. he thought that of the house were built at a at the three-s

john: robert strauss told a story, a longtime democratic operative and national party chairman. he had problems with the vietnam war and he was determined to tell president johnson he was on the wrong track. all he remembered saying was something like, mr. president, you are the greatest man... [laughter] he said he left the oval office and was so angry at himself and he made a vow to himself that if he was ever speaking to a president again, he would tell them exactly what was on his mind. he maintained that he kept that . he ended up on the cabinet in the carter years. he maintained ever after that he stayed true to that. i was in a meeting in the oval office one time and it was glenn hubbard, one of the economic advisors who later on became dean of the columbia business school. i don't never what the issue was, that glenn was there and i was there, so obviously a speech was being talked about. but i remember there was kind of a loose consensus forming around some idea and the president looks at glenn hubbard, and dr. hubbard, what do you think about that? and he said, "mr. pr

. >> thank you >>> we are getting the earnings from levi strauss here, it looks like a beat here for at 23 cents adjusted. revenue also stronger than expected america's revenues, both up 2019 levels wire yew that comparesens. for more apples to apples, but the global digital revenues, also very strong america's digital revenues up 18%, raising the dividend by two cents to eight cents they have record gross margins, this is interesting, helped by less promotions, more full-price selling, but they do mention price increases. attributed to those record gross margins. not much there in the release. the company is also raising the full-year earnings and revenue guidance, you can see shares in response are higher by 4%, though off the highs in extended reaction we'll have much more later this hour, when we speak to dana tellsy from the tellsy advisory group. >>> also to come, the treasury yield falling for the fourth straight day we'll discuss that in terms of where it might be headed nest. mike san toldi will have a look at whether surging sentiment could have a rally that's great, carl.

this morning we hear from chip bergh, we'll hear from levi strauss last night in his call we're now goingl they've become common parlance they've been a way this younger generation does transactions david, we know what they're not. >> they're not banks right, right, they're not regulated. to your point earlier, the regulators are always catching up, it seems, with the changes occurring at a rapid rate. >> i thought he was thomas fatuous, i don't mean to insult the president of the united states, there are many areas that need to be examined are we charging too much for pharmaceuticals giving the fact that i had good rx on last night. unless you're savvy you could end up paying far too much for pharmaceuticals. sunlight is the best disinfectant we do need to know things about individual industries, and that's what biden should be focused on that's where the people are ripped off >> getting back to financing markets, i had mark shaeffer join me yesterday, global head of m&a at citi he talked about the financial markets being so wide open this is another example of that, this stance.com tran

check levi strauss and company, big earnings beat.les haven't changed, 35% of customers change their waist sizes during covid. some went up and some went down but they changed and raised their full year forecast and said third quarter sales would top pre-pandemic levels. ashley: you are old-fashioned. the old 501s but big and baggy doesn't work on me. >> it is more comfortable. big and baggy -- ashley: i wish. elastic waistband. great idea. let's check the big board and we can show you the dow up 200 points as you can see. lots of green, six stocks on the dow slightly lower coming intel unchanged. let's check the 10 year. big story yesterday, dropping below one.3% but now back up. the trials and tribulations of the 10 year treasury up 4 and a half basis points. gold continues to move higher modestly up $3 or thereabouts, 1804 cents on gold. what about bitcoin up 420 bucks, 33,380 for the gain. take a look at oil, crude up one%, 7393, $74 a barrel, the average price per gallon of gas will cost $3.14 but if you live in tax tax tax calif

if you looked at levi strauss, they actually reported last week. that they're a huge company, but an indicator of where the consumer is. they blew away numbers, the stock responded really well, and that was one of my biggest concerns, when they come out and meet these high expectations, how are the stocks going to perform. i think we'll find out tomorrow with the big banks reporting. probably my biggest concern, valuations high, expectations high, we're going to see what we get out of goldman and jp tomorrow. cheryl: and there's concerns about this global minimum tax, how these companies are going to be taxed around the world even though the may not kick in until next year. but at the same time, jeff, you know, with inflation and also you've got a lot of these companies saying they're having trouble getting workers to come back to work or take jobs at all, there's going to be concerns about productivity. >> yeah. well, first of all, i don't think inflation is all that high. you know, if you look back over the past 50 years, inflation is still extra