Line making its debut on the New York Stock Exchange opening at 32 a share. Trading around 42. 72. This is what the chief global officer had to tell us on the last hour of squawk on the street. Its a kind of trend and evolution. So we start but theres service and game service, they want it so theres two occasions theyre searching. So if the users can be very rare and nonstop service i think we can satisfy users. When they did it markets were at new highs and pokemon go was a global phenomenon. They priced it low. That was a big advantage here. User growth was stagnated. Revenue growth is still good. Its game dependent. This reminds me of when twitter went public. And these companies were going public when they already grasped most of the market opportunity. They can move wrond japan or new products. So you think they waited too long. Whether or not it was their fault. Theyre in great shape. Im talking about the investor side. You have to say how are they going to drive the next wave of growth. Your revenue is dependent on your user growth. 2thirds of the users do come from japan. Interesting to hear the comments from the chief global officer as they look beyond japan for that growth and they have a billion and change in capital from this ipo. Whats the advantage of having that and not selling like whats app did or raising private money like snapchat. They can experiment and go aggressively to move beyond japan and build a base and if you look at messaging in particular its a network business. If youre in a country and you dominate the country you have a big barrier to entry. They can invest in more games which are tremendously profitable when you hit them. Theres the hit business. So were not look at a disaster but you have to be worried about the user growth. The risk is this is more like king digital and its seen its growth out of the gate and people are hoping they would be able to replicate that model outside of what they had done and they werent able to fully do that. Its interesting, a lot of cultural apps and ideas dont translate to well outside of japan when they originate there but some do. Increasingly in asia were seeing the possibility that app ideas and cultural ideas will translate. That we saw that with a chinese app company thats done extraordinarily well here but like you said you have to be careful with this especially because the fwroeth has dropped off. They want to focus in china, Southeast Asia, sorry, japan more in Southeast Asia and the area where they have been stronger but not clear that theyll be able to compete with the likes of facebook thats done so well in messaging over the years. Thats right. Go back to alibaba. One of the stories is now theyll be able to fall to the United States and europe and that hasnt happened yet. You say be careful on that, overall market, same thought. You know my view. Well go up, up, up. All i would say is unless something has fundamentally changed from a value withdratio perspective what were doing is radically reducing future terms and the longterm relative to the fundamentals does not look particularly encouraging. Lets move to the campaign trail this morning. Venture capitalist and facebook board member will be speaking at the rnc in cleveland next week. An open supporter of donald trump despite his libertarian views. He will be speaking on the third day of the convention under the theme make America First again along with several members of the trump family, tim tebow and some others. What does he bring to this . Theres a few business leaders. Harold hamm is another one. But how does that change the color of the convention . Peter teal is a genius in terms of technology and business. He is very strong in that way so that brings trump some credibility. Theres no question and hes not afraid to take the stand. So the more folks like that trump can get, hes from the outside and different and lets do it differently than we have been doing it. When you think about teals book and the message there, a company is not successful unless it has a monopoly in its business. Do you think thats the message its going to bring to convention and the way we think about america and the Trump Campaign . We have to revitalize and think big and be entrepreneurial and make America Great again going back to the slogan. Any risk here for facebook . They were able to distance themselves from the stuff that he was involved in in suing him but if he goes hard after hillary clinton, which im sort of skept car length whether he will do that or not or if hell just talk about capitalism and how great it is to start businesses, is there risk here for facebook or for overall his Silicon Valley reputation. Theres certainly risk given how controversial trump is, it depends on what happens to his message over the next few months, whether he moves the mainstream which a lot of people expected him to do after he won the primary which he has not done yet. Except in the last couple of weeks he has things more under control but if he stay with the extreme and in many cases antiamerican statements that he is making trying to rile up a particular group within the country that will create an issue for facebook which desperately tries to shy away from taking a political stance or journalistic stance so that will come back to them. New york times poll today, better on the economy, clinton 42, trump 52. Do you agree . This is one of the areas that people look to trump and say okay obviously he understands it better and he had a great poll this morning where he is polled into a dead heat with clinton. Look, trump has been excellent at one very specific thing in business, i think taking that to the rest of the country, at least listening to what he has said so far thats a big jump. It would be ludicrous to force apple and it sounds very appealing and trump has the reputation so when you really dig in its actually a question. Youre talking about the same poll im thinking of, that also involved polling 0 among African Americans in ohio. And im not sure its great and that turn out becomes a game at that time. I know which way this is going to be. Finally the nominees will be announced and on the east coast 11 30 a. M. Game of thrones took home a record 12 awards and the streak likely to continue this year. Theyre watching the rise of shows like house of cards and orange is the new black and transparent. Its always a curiosity to see or think about whether these awards mean something in sub growth or revenue. All i can tell you is from National Interest based on what people are reading on Business Insider and tech insider, game of thrones has taken over the world of consciousness and people are so incredibly into it and to the point you just made, when you step back from this what is really notable here is the number of shows that are up for contention from new production over the top not Traditional NetworkTelevision Production and its extraordinary. Even hbo which is obviously not ad supported, you still have the amazing move away from the Traditional Networks. Life is hard in primetime. They have to program for tens of millions of people, in primetime especially and the dramas on netflix and amazon, if 100,000 people watch them its okay. If theyre really passionate about them. Thats the thing different about a subscription business. Ultimately as long as you really, really care about one thing on there, youll pay for the subscription. You dont have to watch everything. You dont have to go for the mass audience. Its a different programming and it works. Things have changed like hulu and netflix and amazon, theyre just other channels now and in a way this is sort of prime day for all the streamers and then in another way i cant tell the difference between game of thrones on hbo and orange is the new black on netflix. Its something thats out there that i access through one box or another. Absolutely. These are not ad supported and theres still a huge amount of money spent on Television Advertising with viewership going down so thats a radical change but two, netflix is just simply a better modern tv network. You can watch what you want to watch whenever you want to watch it where ever you happen to be. Thats convenient. Traditional networks are adapting to that but theyre not as good at that yet. Whats one the share price, right . And worries about brexit effecting sub growth. Nobody said the content business is easy. Its very expensive but ultimately in terms of designing a network for the digital age, netflix is perfectly designed. Do you think that consumers are developing brand loyalty toward netflix and hulu and amazon . Im thinking about when he said people dont care that the Big Bang Theory is on cbs. They just like the show. Theyll find it where ever it is. But are they looking at them like destinations . Younger people are look at netflix is television. Thats the subscription that you have. Maybe youll add on cable if your sports assessed but that is the risk with Network Television is people arent watching networks. Theyre watching particular shows and those shows netflix and others and hulu have proven can be produced by many other companies so thats why this is going to be a free for all. Its going to take forever. Its not something that will happen overnight but over the next 10 to 20 years well see change in this landscape. Good to see you. Thank you so much. As part of our Digital Series we talked with some of the top names in hollywood asking them what shows theyre watching and binging. You can find our complete coverage at cnbc. Com binge. Shares of jp morgan on the rise. Easily topping estimates to kick off earnings season for the big banks and break down the numbers. Then the global state of technology. One of europes most highly valued start ups and pokemon fever not going away any time soon. The former ea ceo will join us at 11 30 along with the emmy noms. Keep it right here. Your Business NeedsBetter Technology to drive better performance. So you need it to be reliable and fast. Really fast. Introducing the comcast business Summer Savings event. Fast Internet Speed to drive performance, plus cutting edge wifi for your employees and customers, and voice mobility so your calls find you wherever you are. Get some of our most advanced products at a great price with over 500 in savings. Call today and ask how to get these savings plus a 250 prepaid card. Comcast business. Built for business. It was just such a quick, easy experience that i just go back to them. announcer discover for yourself how easy carbuying can be with truecar. Take a look at the markets at this hour. You can see markets and those two are currently on their fifth day of gains. The nasdaq is up three quarters of a percent today but remain s 3. 5 from its record high. Were seeing utilities in the red today. Financials had been leading the market throughout the morning. They are currently up better than 1 right now and thats still the case so well keep an eye on that and give you an update on bank earnings. Lets get to steve with breaking news out of the federal reserve. The atlanta fed president is speaking out in the Rocky Mountains and thats important for a reason ill tell you in a second. The fed is not behind the curve when it comes to Monetary Policy. He is comfort wbl the cautious and patient approach taken in the wake of brexit. But i want to show you what were calling the curious lockhart quote here. Substantially accomplish our Monetary Policy objectives in 2017. Which i dont know if that means that 2016 is on hold or hes just saying hey we have a 1. 6 average funds rate for 2017. We think we can get there. How the economy is working. But one big factor in his thinking is brexit. He was surprised by it and he called it the bison in the room. He said its too early to sound the all clear on brexit. The fed is on alert and its been orderly and he says brexit is not a lehman moment but could impact the u. S. Through the trade subpoena channel but ultimately he does not expect a large impact from brexit. He says uncertainty from things like brexit is no rational so hes okay with this idea that theyre on hold for now but maybe not for too long and this idea of accomplishing the goals in 2017 just raises the question as to whether or not hes saying the fed could be on hold through 2016. The bison in the room. That has to be a first, steve. Exactly. Steve with a fed update for us from the newsroom today. Meanwhile t rate story had been impacting the bank. The idea of lower for longer had brought down expectations for the financials. The only sector still in the red for the year because of the expectation that rates will stay low. Jp morgan though trimming its year to date losses after a Strong Quarter this morning and consumer and commercial banking were able to overshadow drops in revenue for equity underwriting and corporate advisory. On the consumer size, four loans up 23 . Deposits up 23 . That helped and shares are up today and that is the largest partner on credit cards. Credit card volume though and auto loan volume as they go up. Theyll need to be more cautious on putting aside reserves. Jp morgan did get a bump from its stake in visa europe which got sold this year and took a loss on its stake in square for the Second Quarter in a row. Shares of square down 39 and the bank continually has to mark that position to market. There are fewer ipos and equity underwriting especially dry despite dozens of companies being in the pipeline to two public. The bank got trading revenues to rise in the mid teens so a jump of 23 better than expected. The bigger gains coming in fixed incomes, currencies, commodities all around the brexit vote. The lasting effect of brexit remains to be seen. Heres jamie dimon who is recovering from a summer cold speaking to analysts early this morning. The most important thing is that we had will continue every single country to serve our klines day in and day out. Not really worried about it. It would be nice. It doesnt create huge turmoil. So, you know, im hoping the eu is sensible and well be prepared. There is a range of outcomes. Were not going to like pull back serving people in italy, germany, france, or spain. The bank cfo saying it would prefer to keep london as its europe headquaters though she would not comment on applying for new banking licenses elsewhere. Larry fink, the ceo of black rock which also reported earnings this morning had more of a dire prediction. He believes a shortterm recession is coming because of it and believes rates will go lower before higher. Although if earnings season can improve on this minus 5 expectation number maybe some of these are justified. Still to come, call it the paypal of europe. How its making waves in the online payment space. Well speak with the ceo next and later on the halftime report, noon eastern right after squawk alley, bill ackman from herbal life, a lot to talk about today. Hell be on the half right after squawk alley. Well be back. Lets take a closer look with our next guest with the customers including the likes of overstock. Hes the ceo of a stockholm based Payments Company and number 8 on our 2016 disrupter list. Good to have you, welcome. Thank you. Bank of england talks about the resilience of the u. K. Financial system. Is that how it feels to tech . No, its a disaster to be honest. Its so sad to see england leave the union but being the only start up unicorn its actually quite good because more complexity is better for us. Over the shortterm or longterm . Longterm. Positive for you . Yes. How about Tech Companies in general that dont necessarily do what you do . Well, again its sad because like its been a great tech hub in europe and i think with this a lot of people get worried can they stay here . Should they move . Whats going to happen . All of that uncertainty is not good for the market. Has it altered your plans in terms of staffing or headquaters or anything . Not really. To us like really being able to unite europe on the one banking, it gave everyone the same opportunity. The more complexity you get becomes even easier for us. Im interested in your take on amazons prime day this week because it seems like a lot of what youre doing is trying to bring two smaller retailers, some of the effects that amazon has been able to create. Lowering shopping cart friction and making it easier to get what they want and not abandon stuff that they have been shopping for. Its true and whats really exciting is most of the stuff we talk about theyre going for that side. This is where we are. Were the only ones with a bank license. Thats what is really exciting. So whats the lesson of prime day for everybody thats not amazon . Yes, its prime day. Its single one click purchases but its much more than that and its really a replacer. A reason why they dont want to be classified as a bank is it comes with regulation. You have to hold so much capital and theres so much red tape. Why are you willing to go there . Because i love it. Hard stuff creates value. If you do the easy stuff youre not creating value but being able to adjust all the complexity and united on the one platform and providing one thats really easy to use thats what its about. So we have a bank license and we operate in 11 countries where 1,500 people in 8 months after we launch in the u. S. Who are you going after in the u. S. . Who is the main target. I think overtime its capital ones of the world, the issuers. Where we want to go is replacing it. We could have gone longer with this one. Please come back. 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