And town but not out walmarts ceo admitting his company fell behind amazon but now the pressure is on to play that catch up game. And finally peter thiel doubling down on his attacks against google why he says the search giants dealings with china should be a huge red flag for the feds its tuesday, july 16th. Worldwide exchange begins right now. Good morning welcome to Worldwide Exchange from wherever you are in the world you may be watching. Im dominic chu in for Brian Sullivan live pictures here, a screen shot of capitol hill where today congress will be Holding Hearings on Big Technology well take you there live in a moment first heres how you and your money are setting up right now the Global Markets are setting up their day stock futures indicating the dow will open just about flat, off by 4 points. Not much movement. There the s p up by 1 point. The nasdaq up by 6 to 7 points this after the major averages capped off another day of, yes, record highs the dow hitting its fourth rec
Recently as you know theres been a great deal of interest about Digital Assets including crypto currency such as that claim and libra. There are many regulatory and supervisory question regarding Virtual Assets and Virtual Currencies but i will focus narrowly on the concerns the treasury has regarding the growing misuse of the currencies via money launderers, terrorist financiers and other bad players. This week representatives of the project will go to capitol hill to discuss the proposal for a crypto currency. At the Treasury Department across the u. S. Government with the International Financial community, theres been a great deal of activity recently related to the regulation and treatment of Digital Assets in crypto currency. Id like to give some brief explanatory remarks about what we have been doin been giving bt since theres lots of interest and then i will open up questions. Last month the association, a consortium of 28 businesses including a facebook subsidiary announced it
On this afternoon. In asia, the nikkei was down the hang seng was up 0. 23 for european markets, the dax is slightly lower you see slight gains for the cac, the ftse 100, stocks in italy and in spain look at the Treasury Department. The tenyear is yielding 2. 090 . We have a very busy day going on in the markets. From wall street to washington, lets get you through the squawk planner. On the earnings front, three big banks on the docket starting with jpmorgan that will come at about 6 45 a. M we have Goldman Sachs coming in with its earnings. Those should be announced around 7 30 wells fargo earnings should cross the tape at 8 00 a. M Johnson Johnson will also report at 6 50 a. M. Eastern time well bring you a first on cnbc interview with the cfo right after that report. On the data front, we will be getting june retail sales, import and export prices as well that all hits at 8 30 a. M. The other big event on the planner is big tech is back in washington today the house judiciary subco
That the banksle were the focus point. They seem to miss in terms of overall trade. In terms of miss overall trade. The laststeven, over couple of days, it has been middling, hovering your record highs. When you look over the next few months, do you think we still have sort of enough of a catalyst year to kind of keep this momentum going, pushing equities higher, and how do you think that fits in with, i guess, regards to the earning picture earnings picture that we have . Is no i think that worry. A good deal of this has been momentum. Overall, we are not bearish. We think we have a record high level of eps in the United States this year, and, probably, we can go on to another one in 2020. The problem is it cannot be everything that everyone wants, which is a rapid gain in eps with ever rising asset prices, getting it altogether. Inflation low, profits high, markets high. Broadly speaking again, i do not think we have come to a point where we are just wildly irrational on equities pri
We have a Good Opportunity if we enable more people to participate to offer services that can generate revenue. This is supposed to be a Nonprofit Organization, is in the . Im talking about the calibra wallop which will directly impact facebook. Is it going to be a nonprofit . No, calibra is a forprofit entity and the entity that will dold the wallet that will be offered to facebook consumers. Is Digital Currency illegal in some parts of the world quick skinny touch on that . Gets congressman there are an number of countries that prohibit buying selling or using Digital Currencies. I also want to mention privacy violation concerns things that americans have been concerned with. The american consumer, do they trust facebook and do they feel comfortable with your company . Congressman i believe we have a lot of work to do to earn Peoples Trust and we have two definitely make though strong commitments when it comes to privacy and make good on those commitments for long periods of time. I