Closing down by 0. 4 the hang seng was off by 1. 1 . Then the shanghai was down by almost 0. 9 . In europe it looks like, again, a modest decline dax and the cac are relatively flat ftse down by 0. 2 . Italy and spain down by 0. 3 and 0. 4 if you check out the treasury market, you will see the tenyear right now looks to be yielding about 2. 019 . We do have breaking news on Warren Buffett he is denying reports of tensions between him and 3g capital and kraft heinz. Buffett said 3gs cofounder is a good friend and he plans to see lemann next month. He also plans to attend lemanns 80th Birthday Party in august. The report has been out about tensions between them. Buffett also expressed support for the ceo of kraft heinz reports of the tensions may have been sparked by kraft heinz underperformance. That stock down by 50 buffett says right now the biggest problem facing kraft heinz is that heinz overpaid when merging with kraft back in july of 2015 he said he paid too much and it will take time to whittle down 31 billion in debt at the company. You could reasonably be frustrated by underperformance and not have tension yeah. You can have disagreements with people or he said hes been a partner with charlie for 60 years. Not that they agree on everything, but they never had an argument. Theres been underperformance at kraft heinz as Charlie Munger pointed out in the may meeting, there were a series of deals. It was just the last partnership that was rougher at the time buffett said he could imagine another partnership with 3g. Lets talk about some news this morning iran slamming the Trump Administration over new u. S. Sanctions targeting the islamic republ republics people leader and other top officials. Irans Foreign Ministry says it amounts to permanent closure of talks. Rouhani called the sanctions idiotic and accusing the white housefflicted by Mental Illness washington said the new sanctions were designed to discourage iran from developing nuclear weapons. Home builder lennar just out with earnings. They look solid here the stock is up a bit. The Company Earned 1. 30 a share in the Second Quarter beating the consensus estimate of 1. 14 revenue also nicely exceeded expectations 5. 5 billion or so versus an estimate of 5. 1. Theres some other they talk about the backlog, which is down its at 19,000 new orders are up 1 at 14,500 deliveries in the Second Quarter are up 5 , which is a pretty good number. 12,729 the company did see just a 1 increase in new orders that compared to Something Else, andrew hackers have broken into the systems of more than a dozen Telecom Companies. The Firm Identified links to previous chinese cyberespionage campaigns and said it was likely a government, not a criminal group that would have capabilities to do this kind of attack the Telecom Companies affected were not named but this is just the latest. We have more coming up on squawk box. The quest to transform the American Energy market we will talk to the author and subject of a new book called superpower. I read it a couple months ago. As we head to a break, heres a look at the biggest premarket winners and losers in the dow. Welcome to vietnam which has been slowly stealing manufacturing production from china for a decade, now theres a trade war and tariffs which has oppele asking can vietnam become the new china thats all day today on cnbc oh, wow. You two are going to have such a great trip. Thanks to you, we will. This is why voya helps reach todays goals. All while helping you to and through retirement. Can you help with these . Were more of the plan, invest and protect kind of help. Voya. Helping you to and through retirement. Welcome back a new book explores one entrepreneurs crusade to build a power grid to carry wind energy across the country. Its called superpower. Joining us is the author, russell gold Michael Sculley is the main subject of the book. Just a back story, Brian Burrows sent me a note a couple months ago and said you have to get this book. This is like the real thing. I love a great yarn. This was that. Im happy you were here. Because i really enjoyed this book as a great sort of summer beach read, even though you probably didnt intend for it to be that way. Ill take it. Theres lots of stuff in here that is really important about the power grid and whats going on in the energy world today so thats the other reason we want to have you here. You wrote the book, but i want to go to the subject of the book for a moment i want to understand the state of power grids in america. You tried to build a power grid. Didnt work. Its going to work. Our piece has not yet worked it seems we are spending time and energy thinking about how to restructure the energy world and we think we need to get to new technologies, all sorts of things you say thats not true at all this is not about technology we have the technology. All of this exists. We got it thats the part i didnt understand before i read this book so weve got this grid that we built to do a certain thing it was basically built around cities and we had coal plants, gas plants, nukes fairly close to cities. Now we have these resources spread out across the country. Wind, solar, everything else. The job is if we want to tap these resources, we have to build the grid to go with that but get to the technology piece. Ive always thought theres always been a big issue about battery technology, how do you store it how do you move it across the country. How do you attach different grids. We know how to do all these things we know how to generate electricity really cheaply we can generate solar for 2. 5 cents. Wind for 2. 5 cents these are numbers without tax credits. We know how to do this we need the grid to get it to where people are so when you started this project, what inspired you to look into this issue why him . Why this story what were you trying to get at i read several books about Climate Change i found them all depressing. You read them and think theres nothing we can do. I wanted to write a book about what i think might be one of the most important parts of this energy system, thats transition we have hundreds of wind farms that need to be built. I wanted to write who is doing it part of it was your argument was it cant even be about climate. Business its an investment story. To make the investment, what does it take how much money are we talking with how Much Technology are we talking about . Walk us through what has to happen here. Yeah. So building the grid is about planning, permitting and paying for it and we know how to plan it we have these smart people all over the country who know how to plan it. We have to permit it thats the hard part we have a set of fairly antiquated laws that have not kept up with the exciting developments on the generation side you guys talk about you write about and youre involved in the politics of this. You think youre being blocked by political people for political reasons. Yeah. So unfortunately weve gotten ourselves in this fix in this country where an allenergy thing has become political and not economic if theyre economic, renewables will win but when we get renewables will win on the cost yeah. Because you can bring the cost down to to, you know, 2. 5 cents a kilowatt hour. Is this only in places where the sun is bright or where the wind blows a lot even better solar locations, it will be less. Worse wind locations more. But its all sort of in the hunt of well under 5 cents a kilowatt hour whats natural gas now . If you generate electric power with natural gas, its about 2. 5 cents. What do you make of luelon musks attempts to put solar things on roofs, but to have batteries in everybodys home . Im sort of i spent 25 years doing Central Station power. I think this is about scale. Its about networks. And if you think about other things, telecom, other industries, scale and networks are what get you they bring down costs im not a big rooftop solar and battery in the home person if you want a battery in your home for when the lights go out, for when theres a super storm sandy, great thats the perfect reason and application for a battery at the house. If you want to run the country, you have to talk about centralized big wind farms, big solar farms. Last question, in terms of theres also a danger component. There was a fire in arizona. The more you bring these batteries closer to peoples homes and neighborhoods, then you have a problem, you have a problem, a real problem. I think we can figure that out. Thats not to russells point, you know, we have to run really big cities, giant industries and for that you need scale. Were not going to get there by putting panels on our roofs. We thank both of you. The book is called superpower. Its a sorry of success and failure. Appreciate you coming in thank you i dont know if weve done justice to the drama in the book thank you. All right. Coming up, its been a hot start to the year for ipos yesterday was rough for a handful of newly public companies. We have a full run through of the big losers coming up next. Woman my reputation was trashed online. I felt completely helpless. My entire career and business were in jeopardy. I called reputation defender. They were able to restore my good name. If you are under attack, i recommend calling reputation defender. Vo theres more negativity online than ever. Reputation defender ensures that when people check you out, theyll find more of the truth, not trash. If you have search results that are wrong or unfair, visit reputationdefender. Com or call 18778668555. Welcome back to squawk box. Time for the executive edge. Check out this chart showing yesterdays big drop for some hot ipo stocks zoom video, beyond meat all dropping zoom dropping 11 . Shaving 2 2. 8 billion beyond meat falling 8. 5 dropping its market cap by 7 700 million. Uber, lyft, cloudstrike and pinterest also fell. Another successful launch for spacex overnight the companys falcon heavy rocket blasting off from the Kennedy Space center in florida a few hours ago. On board several satellites, an atomic clock and the ashes of more than 150 people experiments on board are designed to show space flight by light is possible. A former astronaut and others had paid to have part of their remains, their families paid to send part of their remains how big was it . Size of a bread basket normally its not, its bigger or smaller i was looking this up, something i saw on elon musk did you read that, sorkin . Mixed something up with red moon with mars or something i dont know i was going to look at it. This is elon musk mistaking blood moon for red planet in a tweet . Right you didnt see that . Hopefully he knows a lot about the solar system he had tweeted out something that said occupy mars but maybe had i dont know, the image was the blood moon the image was from a blood moon as opposed to mars. And it looked like he did it accidentally not a big deal, i dont think, right im giving him a pass we make mistakes all day speak for yourself. Lets get a check on a couple of big movers gold and bitcoin should always look at these two together theres 1,433 on gold we need a longerterm chart. Thats a multiyear high, i think. Up 15 and then bitcoin, bitcoin trades a lot. Look at that see, that is a multiyear high on gold. Up above 11,000 now. We should look at a longer term one of this probably should where is tom lee he was on earlier today. Hes not far off now from his you think this will keep going and going and going . Not sure what to think. My thing now is it has a value i dont know what the value is the issue, this is clearly like i dont want to say a momentum stock, but its a thing where people think the train its one of those things where the train is leaving quick or its not volatility. In or out. Sorkin, the amount of the amount of data that was the blockchain that exists right now that covers all the bitcoins that are around, you know how much bigger it was than three, four, five years ago its growing i guess you divide that network by what you think its worth but interestingly the cost to mine these things they cant mine them anymore. Its too much. You can mine them the existing where we are, its much tougher. At least the layman should not i was going to mine a few this weekend. Decided not to the cost of mining had come down to 5,000, 6,000. Then that would be the Intrinsic Value of it. It should be there, its not. I was thinking how is when i was a believer in the greater fool theory of bitcoin rather than you can actually send a unit of digital work across the internet, itwill be something thats possible to do. Though both are possible. If the Intrinsic Value is far below where its trading you could have both cases playing out, where theres value to it. You still have to believe to get at this point it seems more like gold than a currency. By the time you spend it, it could be worth 20 more. It could be easier down the road to trade. Each bitcoin doesnt need to be worth 400,000 or 500,000. You can do a thousandth of a bitcoin. A kernen is what people thought it should be called. Theres a movement afoot to name a certain number of there is a movement by you . No. No well, im supporting the movement that was started by it came up virally. They liked one of our comments yesterday who one of the winklevoss twins really . Did you invite them on i did not you can just reply back to him. Dont want to beg hes been on both of them have been on. If we cant get tyler or cameron on, well have wilf on, the third triplet, right we made him an honorary winklevoss we will speak to ben misric today about the billionaire crypto coin people that is coming up later. He thinks his book caused know see red im still not on facebook, ben your book about facebook did not get me on facebook so your billionaire all right when we come back, the United States and china have been sparring over trade. One big winner could be vietnam . Carl quintanilla is there. What do you have coming up for us today becky, good morning the trade war does mean vietnam sees a chance to steal some of chinas manufacturing thunder. But how much is riding on the g20 this weekend well talk about that when ctiesivfrxonnu le om hanoi. Through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From finding out whats selling best. To managing your fleet. To collaborating remotely with your teams. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. Or trips to mars. 4. 95. Delivery drones or the latest phones. 4. 95. No matter what you trade, at fidelity its just 4. 95 per online u. S. Equity trade. No matter what you trade, at fidelity plike. Zelle. To conveniently makesend money sier, to your babysitter. For overtime. Or pinacle, to tap into your organization in the office, on the go, or in the stopandgo. Pnc make today the day. My ideal cloud . It has to work like air traffic control. Its gotta let new data integrate with data from our existing systems. Be able to pull from reservation platforms built 20 years ago. And also be able to use apps to book superpersonalized trips on shiny new phones from the future. Plus, i need freedom to move my workloads wherever, whenever but manage it all from right here. And thats the cloud i want. Simple, right . Expect more from your cloud. Ibm cloud. Welcome back youre watching squawk box live from the Nasdaq Market site in times square. Good morning welcome back u. S. Equity futures at this hour are really quiet i dont know, its not dog days, but feels doggish. Down a point and a half on the dow. The s p down a little over 2 nasdaq giving back about 13. Quiet session yesterday. Apple is announcing a big expansion in seattle with plans to put 2,000 employees in two towers blocks away from amazons headquarters the Company Announced squatal would the site would be a key engineering hub. And fedex filing suit against the u. S. Government saying the new restrictions on huawei are hard to follow. The company has apologized twice in the past month for misrouting huawei packages. Huawei and other Chinese Companies were placed on a u. S. Export ban list in may fedex says this places an impossible burden on shippers to know the origin and content of packages warner media hired ann sarnoff to hn namedbe ceo of war brothers at t acquiring Warner Brothers as part of an 85 billion purchase of time warner last year the former ceo resigned from the studio in march following a report that the married executive helped secure roles for an actress with whom he had an affair. Sarnoff will report to john stanky. Companies are racing to vietnam to produce goods with tariffs looming on china Carl Quintanilla is there now. What have you found since you landed in veetd nietnam a lot is riding on g20 this weekend. Will we get a move to tariff all chinese goods to 25 its driving interests in American Brands in vietnam as a hedge, this Company Already makes ford focuses, brake cables, all of that. Jpmorgan looked at retailers and the estimated price hike you would need to offset a move to the full 25 this assuming no mitigation from a vendor negotiation, nothing from forex 21 at costco. 18 at best buy. 17 at walmart and target. Its no surprise the factories here are in the catbird Seat Companies calling and say can i add to my longstanding order we went to a Company Whose line is ringing off the hook. The question for vietnam is where will they find the workers to make all this new stuff vocational schools are a big deal here. The government has a goal of training 2 Million People in vocational schools china has been doing that for two decades. They have a huge army ready and waiting. We talked to one professor at the school on whether the vietnamese want this training. A lot of them still want to follow the academy system, go to university to learn with the cost with five years or four years. So its not easy for them to choose or to chan