good morning fed chair giving another shot in the arm to stocks around the world. and president trump in france and the senate unwraps its new health care bill we're covering both big stories for you. >> and banks on deck, jpmorgan, citi, we also far go and pnc report before the bell we'll tell you what to expect. it's friday, july 14, and "worldwide exchange" begins right now. ♪ >> good morning. and a warm welcome to worldwi"we

exchang exchange". >> today it's new music friday i didn't knee that is a thing. you're listening to selena gee m gomez's new song >> it's allege been a thing. >> i don't know where are i've been, but i'm glad to know that we get to hear new music today the story is one of the nasdaq leading the charge this week up some 2% for the week the s&p up nearly 1% the dow up around about 0.6% for the week in terms of secretary door performance, up 3%, telecom the worst. and they hold the two positions year to date in terms of best and worst performers this morning as you can see the markets are flat, nasdaq just tuc touching green territory we did see the dwreeld yields ta

bit yesterday, but the story of 9 la the last couple days has been yields lower >> and let's take a look at asian equities a strong session for the hong kong market. hang seng gaining just fractionally today, but up about 4% for the week. shanghai composite also higher led by chinese financials. and the japanese nikkei seeing a gain fractionally on the day let's take a look at the story in europe, european car sales growth moderating, but spain being the bright spots this also coming as president trump visits paris the two leaders, macron and president trump ho trump holding that joint session relatively positive on topics like terrorism ftse 100 down 0.3% france seeing a bit of green at this point and the spanish ibex index up

about 0.2% >> and in line with consensus estimates. oil prices had a decent rebound this week. week to date they are up almost 4% and pausing for breath today, wti bang on flat a little bit of green for brent. we've saeen the dollar weak to date, down about 0.3%. aussie dollar has been the strongest performer. up 0.4% against the u.s. dollar. elsewhere not seeing too much movement dollar-yen pairing is flat gold prices for you, flat today pretty much and up about half a percent for the week at 1217 let's turn to today's wall street agenda because if may be

friday, but it is certainly a busy day earnings season kicking off three big bank reports jpmorgan is up around 6:45, followed by citigroup wells far. >> three things to watch capital markets, trading revenue. it will be soft. about 10% down year on year. that will be led ledder by fixed income currencies and commodities. we have had guidance on that, but that is the thing that has flatted earnings to the up side. they won't have that this time loan growth still soft it might be fractionally better quarter on quarter, but still soft relative to where people expected it earlier in the year. offsetting both those things, margins should improve of course on another rate hike and a final thing, positive commentary i think we've underplayed what a sea change those results were for the banks nep are now able

to use capital, deapply ploy itr than hold it and they haven't really spoken about it so in terms of the conference calls, regardless of the quarterly numbers, i think we get a chance to hear what the ceos say about the change in sentiment. >> definitely helped financial sector which has had a strong performance coming in to this earnings season. >> jpmorgan kicking it off at 6:45 also on the agenda, a ton of data june retail sales and cpi are out at 8:30 a.m. followed by industrial production at 9:15, july consumer sentiment and may business inventories at 10:00 and we'll hear from dallas fed president speaking at a conference in mexico happening now, a massive of parade is under way in paris as france celebrates bastille day president trump and french

president macron are both there. let's get to claire in paris >> reporter: good morning. and it is a pretty special bastille day we're having today here commemorating both the french revolution but also the 100 years since the united states got involved in the first world war. so as a guest of honor, donald trump is surveying the french troops right now side by side with emmanuel macron the parade is led by 150 american soldiers and it's a pretty huge display of military power. 3,000 soldiers on the ground, 200 military vehicles, horses. the french people love this tradition of a military parade all in all, donald trump's visit here in paris was deemed very positive, very constructive with the two presidents playing down their differences on trade and

climate issues and stressing the natural partnership between the united states and france. back to you. >> claire, thank you very much for that i watched that press conference between the two and i have to say, a lot of headlines about what he said about the russia e-mail meeting saying anyone would take that meeting and also some focus on what he said about president macron's wife but shows issues aside, president macron was asked is president trump too easy on president putin and macron didn't take the bait from the u.s. journalist and he said no, we need to have an open dialogue and on the other issue, president trump was asked whether oosh n whether or not he would change his mind on the paris accord and he said we'll see what happens in the future. they had that famous handshake be and this was a marked improvement in terms of relations between trump and macron. >> this ideological divide coming together and seeing eye

to eye in some ways. a positive session >> and this is clearly a president who is fee cussing on bilateral relations and he did show yesterday early signs of the ability to make that work. but we'll have to see. >> clearly been a trend as to how trump has been handling foreign policy trump also vow took come back to the city of paris. meantime back here in washington or the u.s. i should say,senat republicans are battling for votes within their own party after releasing their latest health care bill two gop senators are saying they will not vote for the bill mitch mcconnell has too convince every one of the 50 remaining republicans to vote yes or the legislation fails. the new bill keeps some of bhof obamacare's taxes on the well any and includes $45 billion to file the opioid epidemic and another $70 billion to stabilize the insurance markets and help lower income americans pay for coverage

the bill also sets up a new fund for exchange based high risk plans. we'll have much more on this from washington in just a few minutes. breaking overnight, a federal judge in hawaii has eased some restrictions on president trump's travel ban the ruling says the u.s. government cannot deny entry too grandparents and certain other relatives. the justice department declined to comment, but it has said in the past that the travel ban is grounded in immigration law. and we are watching steel stocks after president trump said he is consideringariffs on into the united states are that news sent u.s. steel, ak steel, steel dynamics soaring in yelled's session just mixed though at this point. this i should also pint out comes ahead the u.s. choo/china0 day plan where are there has been a lot of chatter that steel will be a part of the plan that

is sbrintroduced at&t reportedly shaking up their ranks. randall stephenson will become executive dh executive chairman yesterday seven consumer groups sent a letter to attorney general sessions urging him to on block the deal on grounds that it would lead too hi highe prices draft kings and fan duel are calling off their merger after a month of negotiations, plan glan dowdy has that big story a [ inaudible >> we'll get back to her in a second to fix her audio. but this has come after many months of speculation as to whether these two companies can

in fact merge. a lot of concerns around antitrust. that from what i understand was the big holdup and a lot of scrutiny of those specific industry as you know, we'll see though if the two companies can come together. >> landon's mic is back in action go for it. >> take two. top two daily fantasy sports sites are calling it quits a month after the threat to sue to block. if approved, they would have controlled more than 90% of the u.s. market for paid sports contests and a merger would have had benefits like cutting down on advertising costs and a more cost efficient process to lobby to get daily fantasy sports legalized. now both will have to work on regulatory issues as separate companies. the announcement comes just months before nfl season, their most profitable time of the year where pre-merger both were spending money on advertising at

unsustainable rates. back to you. >> plan landon, outstandingly delivered. thank you very much. still to come here, stocks to watch including why schaffers of one sibler security firm are getting crushed this morning as we head to break, check out european markets this morning. a good week. these days families want to be connected 24/7.

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futures calling for a lower open, this of course after the dow hit another record high helped by the outperformance in retail shares specifically target having a positive day tech also rebounding apple contributing and i'll keep in mind four straight positive sessions for oil. can it continue? it looks like it can wti up about half a percent. ice cent at 48.68. >> and in corporate news, van guard says big mcnabb will step down as ceo in january and be replaced by tim buckley.

mcnabb will remain as chairman buckley will become just the fourth ceo in van guard's history. and investors putting mean to work in u.s. based stock funds for the first time in a month. traders say marking gains and dovish talk from janet yellen helped to attract cash back into domestic stocks. shares of cyberark are down big. the software firm weaker than expected revenues on softness in europe and the middle east items off some 18% shares of a 10 also under pressure the company reported preliminary q2 revenue that fell short of estimates. a 10 now sgenkt expeexpects $53, nearly 10 million break earlier targets. and infosys topped wall street

estimates with a 1% increase in quarterly profits, but slipped around a third of a percent in indian trade >> and arconic shareholders are should youing over the london fire it accuses of defrauding investors by failing to disclose the use of highly flammable materials. mylan stock getting a boost after a big win for a cancer drug getting approval of their generic version. and walmart upgraded there buy to neutral the firm adding retailer to it's conviction buy list. interesting timing givenen all the talk about retail and the threat of amazon still to come, senate republicans unvaming a new health care bill, but it's already facing opposition from key gop senators details coming up. but first as we head to break, here is today's national

weather forecast from boone a bn bonnie schneider >> reporter: we are looking at storms in the northeast. lightning in central pennsylvania and in west virginia this is an area where we could see severe weather we have 24 million americans at risk for severe weather in this region, so be careful for those of you that are traveling. and speaking of travel, look for wet weather with along the gulfle coast also temperatures are still warm across much of the mid-atlantic, but if you are traveling to chicago, milwaukee, cooler temperatures for today and the good news is eventually this cooler air will work its way east for the weekend so more comfortable in the northeast by saturday and sunday nap is yo that is your business travelers' forecast

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welcome back we have a nice little pop in oil prices in the last 20 minutes or so it was flat at the start of the show, now up about 0.5%. you can see the pop right at the end. this highlights yesterday's 1% gain to the start of today, that meant a 4% gain for the week as a whole. so definitely rebounding this week let's have a quick look at the futures market as well we are pretty much flat. fractionally lower

but either way positive territory for the week led higher by the nasdaq up almost 2% s&p up about 1% for the week dow up about 0.6% for the week a little bit of green, red, so basically flat in the plea h pre-market >> and we continue too watch the french parade celebrating ba bastille day you can see the signature parade not just with french troops, bust troo but u.s. troops, as well and this comes as the u.s. president visits paris an upbeat tone taken by the two leaders during their joint press conference where the two discussed terrorism, strengthening cooperation and in a way were able to overlook their disagreements on some other issues like the paris climate accord and the u.s. president also vowing to come back to the city despite criticism previously from the president over paris' management of terrorism. >> and of course slightly more somber and serious note this

year, of his the one year anniversary from the terror attacks in nice on bastille day a year ago when 86 people lost their lives. in washington news, health care is front and center senate republicans are facing a crucial battle for votes in their own party. kasie hunt reports on what is in the new health care bill and what is not. >> reporter: senate republicans with no room for error hours after unveiling a new health care bill, two gop senators have already said they won't vote for it >> i've been very vocal. >> reporter: mitch mcconnell has to convince every one of the 50 remaining republicans to vote yes or the bill fails. >> what is your bet on whether mitch mcconnell can pull this off? >> he's pulled more than one rabbit out of the hat. >> reporter: to try to win over mad ra moderates, it includes more to fight opioid epidemic and $750

million to stabilize insurance markets and it keeps some of boochl c.a.r.ar obamacare's taxes on wealthy americans. >> everybody is looking for an idea that is more republican and does not run into the concept you're taking money from poor people to give it to rich people >> reporter: but the new bill doesn't restore any of the deep medicaid cuts and it includes a conservative proposal allowing people to buy cheap catastrophic insurance without required obamacare benefits like maternity and mental health services >> i have always believed freedom amendmented amendment is key to getting 050 >> reporter: mcconnell trying to convince holdouts they can't walk away from their promise to repeal obamacare because of americans like loretta thompson who owns a small equipment repair business outside seattle. insurance dedikts uctibles have quadrupled >> there has to be a better way to provide insurance for everybody but to also level the playing field so that small businesses aren't at disadvantage >> that was kasie hunt

reporting. again all eyes on this fascinating to see that the market has continued regardless. >> and i was going to say when we were discussing bank earni earnings, i think commentary also resonates with health care, as we also you have to wonder whether some of the ceos of the health care will say when they report earnings and also how wall street understands how the political noise and the uncertainty around this health care bill has impacted their outlook if at all. something to watch as the companies get set to report starting next week for phrma coming up, the morning's top stories and the round up of gleeb al m global markets >> and today's top trending stories including baby photos going viral. we'll tell you how beyonce earned more than 2 million likes on social media. was yours one of them?

>> no, not yet >> you don't like it >> i like it, but i just swrnts had t haven't had the chance to like it >> that story and much more coming up.

good morning nasdaq on a five session wing streak for the first time since may. >> and today the big banks all ready to roll out earnings plus individual i donvideo u

won't believe what spilled on to a highway when a truck overturned that and much more coming up you're watching "worldwide exchange" on cnbc. ♪ very good morning. i'm wilfred frost. >> happy friday. and it's new music friday. we're kicking things off with demi lovato's sorry not sorry this is a very common catch phrase for millennials >> a catch phrase from you to me as well. >> exactly >> let's check on the global markets. t s&p 500 saliying sorry not sorry as well. still in the red by two pintoin

but up for the week. dow as well and tech the stretch best performing sector, telecom the worst. pretty much flat across the three this morning ten year treasury note ticked up fractionally again yesterday 2.34 level again this morning. >> hong kong stocks best weekly advance in a year. that has helped asian equities in general a positive session for the day and also for the week. japanese nikkei closing up above 20,000 shanghai composite and south korea equities seeing gains, as well the 100 day plan could be revealed as early as monday where we use see some progress made on trade. looking at european quit withity equities, two bright spots were italy and spain. and we're watching president

trump as he continues his trip in paris a relative upbeat tone taken by macron and trump ftse 100 is the key laggard here oil prices have jump the a little bit over the last half an hour or so we were flat at the top of the show, now up about half a percent. it adds to a decent return this week up about 4% coming into [']toda session. so stability and gains for oil this week. 46.30 the price this morning dollar board for you, a little bit of softness in the broader dlo dollar index but the broader index only down about 0.3% slightly bigger moves against some of the major currency pairs, the biggest being against the aussie dollar which again is stronger today the other pairs as you can see gold prices up a little bit

yesterday about half a percent week to date pretty much flat at the moment and janet yellen the big mover behind today's u.s. equity outperformance she testified before the senatey yellen weighed in on the goal to achieve 3% gdp grooet wth in the short term she says that would be an admirable but difficult feat >> studies show when you do have a positive impact on productivity, they're not a percent, not a percent and a half, it's hard to raise productivity grooet. growth so i think it moves in the right direction, but it is challenging given the last five years proef duct different growth has averaged half a percent. joining us now to discuss, chief financial economist at

mufg union bank. chris, good morning to you thank you for joining us i don't think anyone was expecting record highs as janet yellen speaks, but that's what we got does the rally continue? >> remember in the old days when the fed was going to withdraw items stimulus, stocks would crater, thank goodness -- ago yn >> maybe the fed doesn't matter as much as it used to. stocks are doing their own thing. >> as to to what extent does that not matter because of a crucial phrase that we're near the neutral rate, ie the normalization is in fact not very far from where we are peak of interest rates might be quite low. >> i'm not a big advocate of that they kind of torture themselves and said that this natural rate of interest is really zero i don't buy it i've seen so many mistakes made by the fed over the years. with the use of target policy off of those money supply cones and stuff like that.

i don't think this is going to be one of those ideas that it will be with us forever. anyway, let's put this way, a couple months ago bill dudley at the new york fed said maybe rates perhaps will go to 2 to 2.5% based on this zero natural rate theory. so we're not very far away we're at 1.25. maybe it's 2 or 2.5. i hope that wouldn't be what the next fed chairman believes some of these rules based people like john taylor at stanford think that rates should actually go up to 4%. >> to what extent is the market therefore overreacting to what janet yellen said this week given she won't be in her post in months? >> most of the reaction happened in the testimony when it came out when it was released early 8:30 on wednesday. and i think the market is thinking that yellen is questioning whether or not they can make their inflation target 2% but the other risk she outlined

were world economic growth and what sort of policy would be coming out of washington she said the outlook, risks up and down were balanced but the market read like, no, you will postpone rate hikes because you won't make your inflation target >> and she said reaching 3% would be challenging is that in a way yellen casting doubt over president trump he'd pro business agenda? >> yeah, we would like to think there is something going on there. but yeah, i mean, i think economists are -- the idea is starting to gel that demographics, graying of america, baby boomers turning 65, that that is the headwind facing the economy so all these forecasts i see long term like 5 or 10 years looks for gdp growth of only 2, 2.2. so that is what trump is fighting, his economics team, this new idea of demographics

holding us back. >> where does the dollar go rest of the year? >> seems to be weakening a little bit hopefully, you know, rates are going to go up, but i don't think in the -- in the u.s., but i don't think that that will make the dollar rally again. >> and against the euro in particular, i've seen some people say we're close to -- >> i think it can drift up to $1.18. even with a rate hike. >> okay. chris, thanks very much for joining us there is a ton of data on the agenda today june retail sales and cpi programs the most important. and that is followed by industrial production at 9:15, and then july consumer sentiment and may business inventories are out at 10:00 we'll also hear from dallas fed president rob kaplan later today speaking at a conference in mexico on the earnings front, be we'll hear from jpmorgan, citi and wells before the bell. and we'll have more on what you

can expect from the banks coming up later on the show stocks to watch today, shares of cyberark are down big after the company pre-announced second quarter results they saw a weaker than expected revenues on softness in europe and the middle east. do you know more th down more than 18% shares of a 10 also under pressure today the company reported preliminary q2 revenue that fell short on of analyst estimates. a 10 now expects revenue between with $52.5 million and $53 million. that is nearly $10 million leer than earlier targets that stock down, wow, 18%. my favorite word of the morning. let's talk about infosys reported earnings that beats the street >> wow that beat. >> this is the second largest software services company this india. they stopped wall street estimates. and recently announced that they are creating more jobs in north carolina >> there we go

and arconic share hoerlds is suing the company after the london tower fire saying they failed to dws close tts close t highly flammable materials my plan gettingla highly flammable materials my plan gettingla getting a boor approval of a breast are cancer drug sfok up 2.5% walmart upgraded by goldman sachs. adding the retailer to its conviction buy list and gaining 2% in the pre-market today it is time for our top trending stories and we're starting with a little bit of beyonce debuting the first photo of her twins how cute the singer sbroo duesing sir and rum to the world in honest offer their one honesty birthday it got 2 million likes in two hours. >> she looks like she was just

caught unawares there by the cameram cameraman. >> tand matchit matches the gene that she used to announce she was pregnant so sticking with the flower theme. but looks wonderful as a mom of now three. >> and the babies looked a doorabdoo doorab doorable, too. dmx has been arrested and being a could you alsoed by federal prosecute doors of engaging in a scheme to con sea income to avoid paying taxes dmx due to be arraigned in court today. >> surely you pay taxes as the money is coming in >> i wonder if it's just lack of oversight. they have so many people under them taking care of their finances but maybe not in this case so if you need a caffeine high,

listen up. starbucks has dubbed today free tea friday but there is a catch the company launching three knee 234r5i6r flavors that customers can try for no charge, but the offer is only valid for one hour. so from 1:00 to 2:00 p.m. eastern, starbucks customers will be able to try its pineapple black tea pete citrus white tea and sfrau bury green tea. seems like fruity teas if that is your thing, then head to starbucks. >> either way it's free, you might as well. no on reasreason not to. a truck carrying about 7500 pounds of live eels year turned on an oregon highway >> are my hometown >> the driver slammed on the brake causing the container to fly off the truck. >> just so gross

can you imagine walking around >> so is that fatal for an eel >> not sure, but apply when they get nervous or frantic, there is this goo released from their body should when the truck overturned, all the gmpt ooey ws all over the highway and cars. >> i don't know what happens to an eel >> typically this specific seafood is sold to korea because it's seen as a popular dish there. it's called hagtfish oo oregon is known for its seafood. my mom's salmon is the best. maybe you can have it one day. >> that would be nice. the other thing i was hoping it was going to be a, they are also

famous for pinot noir. just get a glass and -- >> off the road? >> i wouldn't pick an eel up, but i'd have some wine we'll move on to sports. fan duel and draft kings walking away from their anticipated merger the daily fantasy sport sites had to do up against resistance from regulators. the federal trade commission said it would seek to block the merger because the combined company would control horn 90 respect abo more than 9d 0 respect about of the u.s. market. they lobbied for legislation too authorize fan tatasy spoorts in states that had declared it illegal. about t bottom line, no deal some of the media world's biggest shakers are in sun valley for the annual conference cnbc caught up with roger goodell late yesterday he said the league is look at

several way tas to improve the experience for fans watching at home >> one of our big efforts is to try to make sure that we make the experience whether watching on television or in our stadiums make it a more compelling experience for our fans. and that means frying ining ti do less breaks, trying to find ways in which we can take down time out of the game and make the game focus on the action, this is what the fans all want >> that is not just what the fans all want, it's what the fans from dwroefr sea overseas . might be more points than soccer, but less minutes of action per hour. anyway, television ratings for the nfl game were do you knwn a. coming up, we're talking

china and iran >> and first another check on the futures market we've been flat most of the morning. we're just plea flat plea flat right now. below flat below flat right now 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.

welcome back to "worldwide exchange." time for our must read stories

my pick is in the "washington post" written by boris johnson titled without the iran nuclear agreement, the world would be in supreme danger so again written by boris johnson. he writes in the troubled landscape of the middle ooeseas success is measured by the crises that we avoid the jcmoa has neutralized for at least a decade, one less threat too worry about. this is very interesting it's the two year anniversary since the deal happened. and i learned a lot by reading this about exactly the process of what has been enforced on iran and how if the deal fell apart how quickly they could come back to building a nuclear weapon clearly criticism that iran is now making more money without sanctions and with it fueling various other crises around the region but boris johnson saying this is a better alternative than them having a nuclear weapon. and a deal that still gets a lot of criticism on both sides of

the aisle. but i learned a lot. >> and my pick in the "washington post" titled why chinese leaders were afraid of a man who died in their captivity referring to the nobel prize winner who died yesterday. he writes perhaps the communist party rules over a population that no longer believes this communism. its only justification is that it delivers economic growth. the regime is caught in that paradox and afraid i think this will continue to be a big question as china tries to open up its capital markets and invite foorn direcreign direct investment can they continue to be a communist country and of course their oversight over human rights continues to be a point of contention that a lot of

companies and countries have as they look too to china for opportunity. >> and i think that is why they can key to stamp down on democracy because they fear it could spark a wider issue. but one would say mainland china it's still not a major issue because growth has been delivered and it's seen that they can choose its leaders and you don't have one single autocratic leader holding on to power, although that could start being an issue >> and he will use that moment to console date pidate power ev is the expectation up next, we're counting down to the bank earnings reporting before the bell. we'll tell you what so to expect and later this morning, pick mull you vein be any will join squawk be boox at 89:00. ♪

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let's get a look at u.s. stocks. it may be friday, but there is a lot on the economic agenda specifically inflation, that will be a key metric that wall street will be watching especially after comments made by janet yellen over the last two days as she testified on the hill here pre-markets, minimal moves here dow jones up about a point, nasdaq a similar a s&p 500 lower by two, but this comes after the dow hit yet another record high helped by retail and tech stocks european stocks early trade not doing a whole lot. mixed day in fact. the ftse 100 the laggard a this as oil continues to rebound four or five could not secretary could you difference positive sessions is this the end of the oil selloff? weakness in crude of course a question >> and we're also keeping eyes on the banks this morning. jpmorgan, city ig ai and wells

reporting before the bell. let's talk about what to expect with these earnings. i suppose the headline is that capital markets that trading revenues will be down and potentially quite sharply down, but there has been filed answer for guidance for that. >> that's correct, sir what i would expect is thatansw guidance for that. >> that's correct, sir what i would expect is that we'll siee everybody focus on th fixed income trading area and guidance has been that trading as a whole, equity trading has been pretty good, so guidance down 10% to 15%. we think ficc will be down close to 20%, but as you pointed out, most of this is already priced in >> and i suppose specifically on that area of the business, goldman sachs will be focused 00 that, not reportingin until nex tuesday, but they had a terrible

quarter in that area how important is it that they to similar to the other banks this quarter? >> i think it's important. we have to remember that they have a greater presence in the commodities market compared to a jpmorgan or morgan stanley so depending on how the commodities area behaves in the second quarter, their numbers will be more influenced by that vis-a-vis the other banks. so we will read through to citigroup's and jpmorgan's numbers to see whether a goldle than sax or morgan stanley might be doing next week >> and what about the xl app trading about 1% below record highs. do you think earnings can help the banks? will k. th will they provide resilience >> i think they will as you know the fed is moving on interest rates and that is a real positive for their net interest margins particularly the so-called asset sensitive banks. so if they can continue to

deliver on margin expansion, control costs, credit is not a big issue today as you know. and i think investors will see that and look for opportunities to buy these stocks. >> as you said, we could get a pick up in net interest margin because of the rate hikes. does that mean into these earnings season you prefer the asset sensitive names rather than the trading names and which does not mean you're positioned in ahead of earnings season? >> i would say a combination of both certainly the asset sensitive names are names to own like bank of america, co-america are two examples but at the same time, we do think that the capital markets businesses over time will work and so with the priced in lower numbers coming in, wee we'd be r because we think it has been priced in. >> and what are you looking for in terms of commentary from the ceos and cfos about the recent c

car results? >> they were incredible, much better than expected and i think what we should remember that next year's we think will be even better than that what saw this year. and the other talk is regulation.treasury came out with their white paper on what they think the regulators can do to hip the ba4e7 help the banke there will be talk on the volcker rule and how there could be relief on thehorizon. so that will be beneficial to the banks. >> thanks very much for joining us 6:45 a.m. is jpmorgan. 8:00 a.m. wells fargo and citi so we'll have comments before the official analyst call begins we'll also get cpi data.

>> in-234r5igs is suflation is story. thks." that is it for "worldwide exanan for joining us. "squawk box" is next the future isn't silver suits and houses on mars,

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the rally is on which i could have said any morning the last six, seven months a full market rundown straight ahead. earnings season is here jpmorgan set to report and also citigroup and wells fargo before the opening bell and president trump was the guest of honor at the bastille kay ce day celebration in paris after a nice dinner last night in the eiffel tower at the jules verne

restaurant we'll show you what he said about relations with france, steel imports and donald trump jr.'s e-mails. no word on whether he had steak with ketchup friday, july 14th, it's "squawk box" right now good morning yes, is that for bastille day or is that -- >> i know it's early, but yes r, when you said i know this song, i figured you understood why >> okay. just putting that all together welcome to "ua