i'm sara eisen >> i'm wilfred frost very good morning to you from me as well.ice to hear coldplay. >> i'm having some sound issues. thank you for telling me that. >> that's probably while they snuck in a wilfred frost choice band >> you know i wouldn't approve the british band i like coldplay. after a quiet session on wall street yesterday, the dow ended fairly positive. small moves on the major averages this morning notable strength. dow futures up 71 points s&p up 6 1/2, nasdaq futures are up 20 points we'll get the minutes from the last fed meeting today after a batch of data in the u.s. economy yesterday that was pretty decent. as for the ten-year treasury note yield higher yields and a bit of a stronger dollar for a change is what we saw in yesterday's session. 2.28 is the yield on the ten-year watch the yields and the dollar. the dollar near a three-week high that's starting to get the attention of wall street maybe a little pressure relief for some european stocks that have been hit by the stronger euro >> we just had some data internationally. before we

last night wilfred frost asked incoming chair elizabeth duke whether she was confident the bank's recent turmoil was over she said it's hard to say but what we're finding is the better we get at digging deeper and looking at various processes the better we get at risk management, the more issues we might identify overtime the new information revealed will lessen, but it's not the time to say we've found everything and it's all behind us a lot of people reading into that, that that means there's more to come re/code reporting early uber investor calling on benchmark capital to leave uber's board. pishevar is accused of working with another major investor to remove kalanick and huffington from the board

i am wilfred frost with sara eisen.for the must reads. my pick in "the wall street journal" titled we're holding pyongyang to account penned by james mattis and rex tillerson, definition of a must read they write north korea face as new choice, take a path towards peace, prosperity and national acceptance or continue down belligerence, poverty. the u.s. will remain vigilant against the latter important reminder of the story of the week. the focus taken off it perhaps one of the reasons allowing markets to rally a bit. this firmly worded article from the secretary of defense and state, something well worth a read. >> firmly worded, headline is no fire and fury. let's work toward a diplomatic approach, right? >> it is but very firm and clear on that. i think this can be no further escalation on north korea's point is their message. >> my pick is also from a power duo, power combo, titled business rivals agree on policy. interesting that it is penned by david ab knee, ceo of ups and ceo of fedex getting together, saying we

i'm wilfred frost along with courtney reagan.for our must-read stories my pick is in "usa today." "donald trump's new american strategy for afghanistan will undo past failures qu i focused on the elevated rhetoric about pakistan. mike pence writing pakistan like afghanistan is a haven for terrorist activity between the two countries, no fewer than 20 u.s. designated foreign terrorist organizations have haven and conduct operations the highest concentration of any region in the world. pakistan too often turns a blind eye to the cancer of terrorism and in many cases pakistan contributed to the growth of terrorist groups very strong rhetoric towards pakistan for the president and vice president i'm sure heads will be currented in islamabad and the other thing we mentioned is the relationship building between india and the united states. >>> my pick is from the "wall street journal." it's titled "the navy's mccain moment." it talks about the increasing number of navy incidents the collision of the "uss john s. mccain" is the fourth t

. >> and i'm in for wilfred frost.ee 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. let's check in on the global market picture futures are a bit down today after we saw fractional gains yesterday. a little bit of a pull back today. less than in the european markets. nasdaq down by 11 points dow 6, s&p by 2. the fed minutes yesterday seen as a bit dovish, but at the margin it seems like there's a commitment to the normalization of policy, albeit perhaps rate hikes there remains division on. ten-year treasury note, a bit of slippage yield to 2.24% around that level again. yields came off a bit because of the dovishness of the minutes and those political issues >> global bonds rising today as for the action in asia overnight, let's show you what happened after wall street lost much of its earlier rally. japan closed in the red fractionally hong kong down a quarter percent. shanghai comp and kospi in korea continue their comebacks from last week. as for the early action in europe this morning, just let us show you what we're seeing red across the board declines of 0.3%

i'm wilfred frost. >> 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

i am wilfred frost with seema mody authorities brace for more rain from hurricane harvey. the coastal area of texas is already experiencing widespread flooding prompting more than a thousand rescues in the wake of the storm. about 250 roads and highways have been closed, while harvey has been downgraded to a tropical storm, still remains a danger causing devastating floods and gas prices are up by 4%, wti crude prices down by 1%. >>> to talk more about the economic impact of hurricane harvey, bring in michael brown, economist at wells fargo securities michael, good morning to you about 17% of crude production i believe comes from this gulf region help us understand how this storm will impact not just oil prices but also the refinery situation as well. >> well, you know, the big challenge is when you take a step back and look at the inflation that's created by some of the refining capacity coming off line the potential and question is how long will this refinery capacity be down inflation effects if they are persistent could certainly have an adverse impact on things like c

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

good morning i'm sara eisen here with wilfred frost.r some must-read stories catching our attention my pick is titled the u.s. trade deficit is a good thing. i picked it because it was penned by the virginia republican senator james langford the united states purchases more goods from mexico, mexican workers become wealthier, which means they will be able to purchase more goods from the united states. a growing economy in mexico means that mexican workers have less reason to immigrate illegally into the u.s while u.s. consumers and businesses buying more cheap goods from mexico, it gives us greater purchasing power to buy more things and reinvest in our own economy. he says free, fair trade is a win-win scenario i picked it because it's a republican from oklahoma the white house would probably say they're all for free trade as well, they just want to make it fairer. it dosdoes highlight a split wii the republican party on how tough they want to be with trading partners like mexico >> i liked this piece. you and i debated about whether a

i'm sara eisen >> i'm wilfred frost good morning to you from me as well it's new music friday. we are kicking off with taylor swift's new song >> highly anticipated. >> but not very good >> i can't tell. came out overnight >> i listened to it once upstairs with the team >> what did the team think. >> all disappointed, apart from the number one taylor swift fan, karissa. we'll have to listen to it a few more times >> you'll hear it more on the show it is new music friday >>> first let's get to the big developing story out of the gulf of mexico, hurricane harvey gathering strength the storm a category 2 hurricane. it is expected to make landfall in southeast texas later tonight. harvey is forecast to pack a punch bringing torrential rain, heavy flooding and damaging winds. widespread evacuations have been ordered up and down the texas gulf coast we're seeing a big reaction in the energy markets as harvey takes aim. 1% higher for crude prices right now. same with rbob gasoline, that's where we have seen a move in gas, gas prices. 3% pop there on top of a gain yesterday. >> we have

i'm wilfred frost. >> i'm contessa brewer in for sara eisen the jackpot is enough money not to convincee to quit working, but to make me probably a pain to work with >> i think everyone would be a pain if you knew when they won it and it wasn't you you wouldn't quit working if you got 7$700 million >> it would be fun to go in, yeah what are you going to do, fire me? go ahead >> either way, i think -- enough talk about it that i'm tempted to buy a ticket today. i'll probably do that. >> big spender >> probably lots of tickets. how else can you make money? by investing let's look at futures. they're lower. the nasdaq up 1.3% the s&p and dow up just shy of 1% tech the best sector followed by materials, and 1 out of 11 s&p sectors lower, that was real estate taking profit after yesterday's gains. the dow down by 17 points. ten-year treasury note yields have ticked up above 2.2% in and around that level 2.22 this morning. >>> president trump is putting the government's money where his mouth is in a big campaign-style rally in arizona, trump says he is willing to shut down the government to g

i am wilfred frost. >> i am courtney reagan.t is your birthday and sara eisen's birthday. >> bill griffin's as well. >> that's cool what a day, august 7th >> she's doing closing bell later with bill. >> wonder if we get cake let's get to the global market action futures pointing higher at this hour another week of gains for the dow. last week up a third percent friday taking it to 1.2% higher for the week nine straight sessions of gains in a row for the dow last week goldman, sachs had the biggest impact, best returning sector in the s&p 500. only had small gains and nasdaq was lower for the week this morning, pointing at slight gains. 23 points for the dow. ten year fresh renote, not much ending at 2.6% 2.27 on the ten year treasury note more on markets in a moment. >>> first, getting reaction from the white house. new economic sanctions against north korea. tracy potts is live with that from washington. >> reporter: good morning. reaction from north korea saying they'll take righteous action against what they think is infringe

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

. >> i'm dominic chu in for wilfred frost. let's look at what's happening for the markets.t's a new trading month, futures for now are showing signs of stability the s&p is now improving up by 10 points. it looks like we could start as long as futures trade where they are now going into the opening bell the dow jones up by 124 points the nasdaq up by 35 as well. as for what's happening with the broader markets, check out the oil trade. it's one we've been focusing on for a long time. wti crude above $50 per barrel $50.32 ice brent cruise, that world benchmark, $52.77, up by 0.1%. as for the currency side of things, that may be showing some signs of what's happening elsewhere. the you'euro now is falling aga the dollar 1.182. dollar/yen 110.38. and pound dollar, 1.3237 for right now some higher oil prices despite we're seeing the stronger dollar against some of these currencies. >> looking at asian equities now. it was a mixed session -- excuse me, stock there's were higher. the japanese nikkei closing the day up 0.3%. the hang seng up 0.8%. trading near two-year highs. the

. >> wilfred frost will have that exclusive interview. another look at futures as we quickly head to another quick break. we're back on the other side with a lot more on media 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 and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. for years, centurylink has been promising fast internet to small businesses. but for many businesses, it's out of reach. why promise something you can't deliver? comcast business is different. ♪ ♪ we deliver super-fast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. we do business where you do business. ♪ ♪ >>> cbs, channel 2 here in the new york area, reporting better than expected quarterly result

i'm sara eisen >> i'm dominic chu in for wilfred frost.lways nice to wake up to a little carlos santana. >> we always have a good soundtrack on "worldwide exchange" to get you going let's check out the global markets. the dow closed at its 31st record high of 2017 yesterday. the gape gains are set to conte thanks to apple. dow futures up 34 points nasdaq futures up 41 s&p is flat to slightly higher apple set to open at a record high after third quarter results last night the company topping expectations more on that in a few moments. let me run you through some highlights the guidance for revenues next quarter, which everyone was looking for as an indication of what they're expecting in terms of the next big launch of the iphone 8 was strong. coming in up to $52 billion. analysts expected 49 there services revenue grew 22%, became a fortune 100 company as tim cook promised. even ipads grew more than expected so did iphones in what was traditionally supposed to be a weak quarter, a bottom of the cycle in terms of demand >> the guidance towa

i'm wilfred frost. >> i'm morgan brennan in for sara eisen >> great to have you with us let's get straighto the latest on harvey in a few moments, first a check of global markets. in an extraordinary turnaround. yesterday at this time, we saw dow futures down 150 points, p in the end they ended up 56 points higher. that turnaround coming a half hour after the open in terms of the most pronounced fashion, consumer confidence came in, but the main reason is that that realization that the north korean missile test did not affect things much we got that turnaround and it's continuing today the dow higher by 45 points. the nasdaq by 15 ten-year treasury note fell below 2.1% we're back above 2.1, but the net fall in yields yesterday did weigh on bank stocks >> turning to the rest of the world, that similar dynamic we saw playing out in u.s. equitie yesterday playing out today in the asian markets which closed mostly higher. the nikkei up 0.8% the hang seng, that was up more than 1%. the shanghai composite closing about flat the koz spi up 0.3%. all of these indexes are higher on the week and we'

i'm sara eisen >> i'm dominic chu in for wilfred frost this morning sara, i never heard this song before>> that's because it's new music friday this is not new either i don't know >> escalating tensions between the u.s. and north korea remaining front and center for global markets a big selloff on wall street yesterday. it was the worst day for a lot of stocks since back in may. dow futures are pointing higher, perhaps some stability in today's session. this comes after three back-to-back losses for the major averages in what is a pullback officially. dow futures flat s&p down 3.5 nasdaq fought chorutures down 2. the tech sector has been a big winner this year that's receiving some of the biggest moves down >> it maybe makes sense that the stocks that have had the bigger runs higher are selling off the most during the course of the last three days. we made such a big deal that we saw ten straight sessions up for the dow, then it's three in a row. today could be four. as you pointed out, stability now. >>> in asia, saw those losses from wall street spilling over into the continent japan w

i'm sara eisen >> i'm dominic chu in for wilfred frost.eat way to kind of kick things off on a friday, just dance. >> happy jobs day. let's check in on global markets, we're playing it for sean spicer, who won't be dancing sadly. futures indicating a higher start. s&p up 4.5 dow futures up 45. nasdaq futures are up 9 points reversing some declines we saw in yesterday's session for the nasdaq and s&p the russell 2000 index of small caps lower by 1% it's been the dow that's been the stand-out. it's a price-weighted index. closed at an eighth straight high yesterday that would make 32 record closes for 2017 ten-year treasury yield, the bopd m bond market has been stuck around the 2.30 level. we'll see where that goes after jobs look for wages, look for improvement on the sector breakdown when it comes to where the jobs are being added we'll see if treasury yields tick higher on the sign of an ill proving economy. >> we've been waiting for wages for such a long time they've been moving, but there hasn't been anything dramatic. we have not seen

i'm sara eisen >> i'm wilfred frost we're continuing our iciness from "power lunch.t's warm and loving >> i missed you in the early mornings >> let's check in on the global market picture futures, coming off a decent day yesterday. small gains led up by the nasdaq tech sector, the best performer in the s&p positivity despite negative headlines in the course of the week the dow 45 points higher the s&p 5. nasdaq 15. the real take away, the dow and nasdaq in positive territory for the month of august. the month that's been framed by commentators as being negative, showing signs this market is due a pull back, yet we are positive for those two indices for the month. 8 out of 11 sectors are negative for the month of august, utilities is the best performer, the boring safe haven sector which points to the fact that it's not been a gang buster month. >> not to pick on you too much, the dow is up 0.01%. >> i know. the whole point is this has been a terrible month we are sitting here without too much decline at all. ten-year treasury note, which in the middle of the week fel

our own wilfred frost speaking with jpmorgan chase ceo jamie dimon. dimon said he'd rather spend more time just growing the company. >> our preference is always to grow the company organically, so if you asked me i'd rather use that to buy back stock or grow the company, i'd rather grow the company, and some people think banks are buying back stock and not for making loops loans are constrained by other things, not right now by capital so if i had a choice and if things had been different five years ago a lot of capital would have been used to make loans to fund american society and we'll go back to that and the goal is not to go to a bigger payout like to go to a lesser payout and spend more time to grow our economy. it would be $1 trillion more of mortgage loans and a portion of that would have been our bank and that would have fueled american growth. that's what we should be focusing on. not the payout. >> are you concerned about the level of bond markets? is there a bubble there, and when the fed does start to normalize its balance sheet, will tha

wilfred frost is here. and not just tall. he's got a lot of positives. hey, wilf.oming up -- thank you want to talk to you in a second. coverage of the -- we -- >> well -- >> what is she -- >> a special place >> no -- >> i don't -- >> what is that? >> do you know what that is? >> looking down her nose >> joe, you're there i think that's the factor. >> okay, all right catastrophic flooding in texas continues. we're going to talk about the impact on insurers with jeff daley, ceo of farmers group. then later more on the disaster. former feela director michael brown will join us "squawk box" will be coming ghback olay eyes new deep hydrating eye gel with hyaluronic acid born to outperform the #1... prestige eye cream for better hydration. and your best look yet. olay eyes collection. ageless. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. it's been over 100 years since with a clear advantage. the first stock index was created, as a benchmark for average.

. >> i have been critical about the earnings and happy birthday to sarah happy birthday to wilfred frostriffith. happy birthday to brian steel, all part of our family. >> yes. >> that's amazing. people were really busy 9 months ago -- >> that means you're smart. >> 9 months. is that the dead of winter >> stop thinking like that. >> i'm sorry when we return it's a big week for immediate yaemedia earnings it's a history there keep it right here hey gary, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade i thyou never got the brakes looked at?l... oh yeah. no. at cognizant, we're helping today's leading manufacturers make things that think and do automatically. imagine that, a world of new digital products and services all working together for you. can i borrow the car when it's back? get ready, beca

i'm wilfred frost. >> i'm courtney reagan in for sara

. >> i'm dominic chu in for wilfred frost.t's throwback thursday, today we're going back to the '90s and the hip-hop scene. we'll have some dr. dre, snoop dogg in the mix as well. >> makes me so nostalgic, back home, high school. actually middle school, elementary school. '90s was a whole decade, all of it >>> let's check the global markets. like we mentioned, we're seeing a bit of weakness here on the futures side of things right now we could be indicated to open down about 2.5 points on the s&p 500. the dow off by 10 points the nasdaq just fractional eye higher less than 1 point. keep an eye on what's happening after that 22,000 mark was hit yesterday. as for the ten-year treasury note yield, the adp jobs data yesterday and jobless claims today, and that big jobs number, non-farm payroll numbers on friday just a hair to the upside in yields >>> let's look at what's going on with equities around the world. starting in asia lower largely across the board, but look at south korea's kospi, down 1.7 % so the most sharply lower of

. >> and we have breaking news on well fargo wilfred frost just spoke to liz best duke over the phone> indeed. thanks very much.lizbest duke oe >> indeed. thanks very much just spoke to elizabeth duke and the main point in terms of the timing of the recent changes, it is not related to the filings that revealed the sale practice scandal time line nor the announcement of the auto lending issue that is we've seen recently they say the typing is purely down to the recent atm where some members of the board fair poorly in shareholders in fact i asked elizabeth duke current member of the board also if she was satisfied with her own 75% vote she got which is better than money and she said no, if it's not higher next year, she would consider it unacceptable but perhaps the main takeaway of the conversation is that i asked whether she was confident that the worth of the recent turmoil that we also far golls fargo hae was behind the company and she said, quote, it's hard to say what we're finding is that the -- >> are we going to trade this? >> the better we get at risk management the more iss

dimon talking everything from regulation to taxes to president trump during an interview with wilfred frostrday, but it's interesting what he said about the bond market that caught our attention. listen >> i do think that bond prices, spreads, bond prices high, spreads are low, i'm not going to call it a bubble, but i wouldn't personally buy in the ten year sovereign debt anywhere around the world because we went to qe one, two and three and now reversing it and there is a chance this will not go well. but they will figure it out. the fed will respond appropriately. >> and gist showing you what is happening with the ten year treasury note yield today, that safe haven bid that spread across assets and around the world off the north korea headlines is giving treasuries is boost which means yields go even lower 2 at the present ti 2.24 let's bring in managing director and global take strategic adviser at pimco more and more warnings, rich, about the bond market. the lower the yields go and the longer they stay stuck at these levels, people worry is it a bubble, will it snap the other way. what

having right now in regards to the banks another conversation regarding the banks was just had by wilfred frost with jpmorgan ceo, jamie dimon. the stock was climbing during that interview wilfred is in chicago with us. >> how are you doing >> i'm good. your sort of big takeaway from your interview, which we were all glued to, which would play well into the conversation we're having now, ewe dyou did ask hi about the banks, you did ask about the ability of being able to return more capital to shareholders what'd he say? >> yeah, wing that was the key thing for the stock price itself because let's remember, we came into this having just had ccar, where they bullishly, jamie dimon bullishly asked to be able to return over 100% of earnings, 107%, to be precise. and i think the takeaway for most analysts in recent weeks has been hopeful that in 2018, they would seek to return more than that in the future. he just confirmed that, in fact, in the future, he wants to return less. let's have a listen. >> we believe the stress testing and it's been very rigorous, which i think is a good thing. our prefe

wilfred frost is hanging out with us.ake a quick look at the futures at this hour we are in the red. dow looks 43 points off, nasdaq would open 33 points and the s&p 500 down 8.5 points right now. let's tell you what's going on in the headlines the government will release the producer price index in 90 minutes. we'll see if the fed is having any success trying to push inflation higher economists expect an increase of 0.2 of a percent. we're also watching shares of 21st century fox this morning. fox reported a quarterly profit of 36 cents per share. revenue did fall slightly short of estimates stemming from the company's movie studio operation. just in from retailer kohl's, we've been watching the retail story every day. it earned $1.24 per share for the latest quarter that compares to estimates of $1.19. same-store sales fell, though, 0.4 of a percent analysts had expected a 1.5% drop we're also getting numbers from macy's in a little less than an hour kohl's is looking up in the early morning trade there, but we'll see.

dow is up 62 >> good wednesday morning, welcome back to squawk on the street wilfred frost here at postlook at the markets good action at the open. dow is up 67 a lot to watch not just the president as he returns to new jersey but also fed minutes this afternoon retail earnings and renegotiations of nafta begin. >> our road map for the hour begins with rolling fall out more business leaders distances themselves from president trump after he doubles down on his response to charlottesville. >> trian urging to vote peltz on the board. >> plus a shake up on the board of wells fargo nominating a new chairwoman. what she said about helping the bank put scandals behind it. >> more including reaction from the business world. >> that's right. all quite here at trump tower in contrast to the press conference yesterday afternoon. so far no major comings and goings here. we just say the wife of eric trump entering a few moments ago. family members coming and going. we haven't seen the major figures yet today. the president said they didn't do it for stated reason. but instead did it because they're

i'm wilfred frost in for bill griffeth stocks popping on reports that progress is being made on tax reform the lawmakers and the president are to some sort of agreement. >> up 185 and "the wall street journal" says chevron ceo john

expectations for rate hikes going into year end, right >> great american interview, wilfred frost andon. >> selling the bank stocks to me, i'm not getting that yes we get a great job number i just don't think you need to sell the bank stocks that's not where you should be selling. >> because of this notion put forth this week that dereging along increases dividends and buy backs. >> yes and we have great credit card numbers i love what mastercard and visa are doing. i did a piece of the credit card companies yesterday. and others are better to sell. you're going to sell bank of america 24 so you can buy it back at where? in where would you buy that one back it's not expensive here's what you should be selling mylan. that mylan quarter. >> yeah. >> terrible quarter. >> which was worse. >> those are all first sell offers you're not going to refuse myla nar mylan has core business to it. those are hail mary passes left and right. >> mylan should have taken the teva offer and perigo should have taken the mylan offer. anybody should have taken any offer that was made when all of these guys

i'm kelly evans at the new york stock exchange and i'm wilfred frost in for bill griffeth flooding inwing little signs of stopping and the addicks reservoir overflowed today for the first time ever. we'll take you live to texas and talk to a houston infrastructure expert about the impact on the city. >> and president trump is now en route to austin.

richard, i want you to come back when we get more data points, especially the current quarter on gdp wilfred frostthanks very much for that. >>> when we come back, natural gas prices may be shutting down an island. we have the details on that story, don't go away, we're back in a couple. >>> what's the secret of turning a no into a yes and when is a good time to have fun in the office i'm j.j. ramburg, i have great answers to these questions which might help you run a better business whoooo. going somewhere? here's some advice. tripadvisor now searches more... ...than 200 booking sites - to find the hotel you want and save you up to 30%. trust this bird's words. tripadvisor. if they knew just howers rich they were.ed the average american home value has increased $40,000 over the last 5 years. but many don't know you can access that money without refinancing or selling your home. with a home equity loan, you can pull cash out of your house for anything you need- home improvement, college tuition, even finally getting out of credit card debt. come to lendingtree.com to shop and compare home equity l

. >> and will i'm wilfred frost in for bill griffeth. >>> more rain in houston is expected and a numberneries along the gulf coast have shut down until the storm is passed. we speak to the head of parentso

i'm wilfred frost. the president is set to talk about his plans for the tax reform and helping the middle class. we'll bring that to you live. >>> and how much could be shut down and what hurricane harvey could mean for food prices "power lunch" starts right now >>> let's get a check on the markets at this hour the nasdaq is leading the gains right now. financials and technology are the best performing sectors. tell com and energy are lagging. h&r block is lower airlines also in the red as hurricane harvey grounds flights across texas and apple hitting another all time high. our own becky quick spoke with warren buffett about his stake in the company. >> i looked at it and then i bought considerably more in the last quarter, the one we reported here not long ago i never sold a share and i bought the stock. >> are you continuing to buy >> i don't think i'll tell you that much. but i certainly was buying last quarter and i don't pay attention to the calendar what i'm buying. >> nice try. strong endorsemen

i'm wilfred fos. frost>> and i'm courtney reagan we saw futures a little stronger than what we saw earlier and now a mixed picture with the dow jones implied to open about 12 1/2 points higher s&p and nasdaq showing just slight pressure about much we did ha did have a down week on wall street we'll see what happens when we open today we have a big week ahead with janet yellen speaking and of course all eyes on washington continue let's take a look at the he ten year treasury and where the yields are they are still under 2.2.down just ever so slowly this morning but sort of following the pattern that we had seen last week >> it's a mixed picture in asia. we have japan declining about 0.4% european picture is largely red, though declines not too sizable. less than half a percent and coming off a week where they were up almost 2%. >> and let's take a look at oil prices wti just ever so slightly higher, but that means we're hoding on to the big gains from friday where we saw crude actually rise more than 3%, be

. >> and will i'm wilfred frost in for bill griffeth. >>> more rain in houston is expected and a number of refineries along the gulf coast have shut down until the storm is passed. we speak to the head of parentson uti coming up. >> $99 for a case of water, that's the type of price gauging that the attorney general is seeing in the state. he'll join us to tell us how he's cracking down on all that have. >> and next hour president trump is likely to address this catastrophic flooding in a news conference with the president of finland. we'll bring you that live as soon as it begins. but we start in texas. contessa brewer is in houston with the latest on the flooding and brian sullivan is in galveston with a look at how hurricane harvey is affecting refineries contessa, we'll start with you. >> reporter: the bayou has overflowed its banks, normally parkland, and this historic building here was due to be completely renovated by fall of 201. as you can see, they will probably have to go back at t.houston at this point is mostly a ghost town. businesses shut down, employees stranded there are

i'm kelly evans at the new york stock exchange and i'm wilfred frost in for bill griffeth flooding in texas showing little signs of stopping and the addicks reservoir overflowed today for the first time ever. we'll take you live to texas and talk to a houston infrastructure expert about the impact on the city. >> and president trump is now en route to austin. the state's capital at the moment earlier he toured the coastal areas. we'll bring you the live pictures from austin as soon as the president lands. >> but we begin today with an event that shook the market overnight. north korea launching a missile over japan while stocks have made up early logs eds, more details about whether there will be an official full u.s. response. hans nichols out at the pentagon with all of that have. >> reporter: we do have a response coming from the office of the secretary of defense, and they are saying, this is an intermediate ballistic missile missile, irbm. it gives you an indication of the range, the theoretical range is less than an intercontinental ballistic missile. now we also know what the t

i'm wilfred frost in for bill griffeth stocks popping on reports that progress is being made on tax reformow close the lawmakers and the president are to some sort of agreement. >> up 185 and "the wall street journal" says chevron ceo john watson is stepping down next month. the reporter who broke that story with the latest. >> and shares of home builders toll brothers after a mixed earnings report and we'll hear about the company's cautious outlook but we start with the latest on tax reform and a report from politico says the big six are making significant strides on a plan moving past the framework pushed out in july, and one of the big six, speaker paul ryan, is optimistic about getting things done. here's what he said in a town hall last night. >> i believe it's going to be far easier for us to do tax reform than it was say for health care reform >> all right how close are we to getting a plan, and what exactly would be in it? joining us are politico's nancy cook and our own ylan mui. glad to have you both here for this discussion. nancy, i was looking at your proposal today about the

the latest on the hunt for a new ceo next >>> and a programming note, on tuesday at 11:30 a.m., wilfred frost will talk to jamie dimon "squawk box" returns in a moment most etfs only track a benchmark. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. 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 and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. who knew that phones would starentertaining us,ng? getting us back on track and finding us

last night wilfred frost asked incoming chair elizabeth duke whether she was confident the bank's recent turmoil was over she said it's hard to say but what we're finding is the better we get at digging deeper and looking at various processes the better we get at risk management, the more issues we might identify overtime the new information revealed will lessen, but it's not the time to say we've found everything and it's all behind us a lot of people reading into that, that that means there's more to come re/code reporting early uber investor calling on benchmark capital to leave uber's board. pishevar is accused of working with another major investor to remove kalanick and huffington from the board pishevar is suing kalanick and then in earnings news, shares of urban outfitters moving higher. the retailer posting earnings of 44 cents per share, compared to 33 cents same-store sales fell 4.9% that was better than the 6.4% drop that wall street expected that stock up close to 18% >> off the lows. >>> on the agenda july housing starts and building permits, both out at 8:30 a.m. eastern.

program will focus on advanced manufacturing fields and jamie dimon is going to be sitting down with wilfred frostthis morning for a cnbc exclusive interview on "squawk alley." and i'm going to be hanging out with the "squawk alley" gang >> are you really? >> i'll beage haing with that crowd. >> all right in the meantime president trump officially six months into his presidency brian sullivan is on the ground at a wisconsin town that helped trump's victory in that state. brian, good morning. what can you tell us today >> well, good morning, everybody. you could argue there's a couple of states that flipped the election wisconsin is among them. if you go into it you could say there's a couple of counties that really mattered to flip the state and flip the election. overall in wisconsin, 22 counties went from blue to red to get donald j. trump elected president. most of those are smaller counties not kenosha county and neighb neighboring racine counties. they flipped what they thought was manufacturing and jobs and made in america were huge topics all across the board during the campaign wisconsin f

don't miss wilfred frost's exclusive interview with jpmorgan ceo jamie dimon tomorrow at 11:30 a.m.nod to chris pratt's news with this song "squawk box" will be right back. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. >>> still to come this morning technology meets health care secretary david shulkin will join us to talk about the department's e-health push also the trump agenda. "squawk box" will be right back. you always pay 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 an