Green either. Looking to open down. Overnight in asia youre looking at a bit of a green picture there. The nikkei and shanghai all in the green and up. Lets try over to europe and tell you whats been going on over there while youve been sleeping. Lufthansa. Could use the business apparently. Flying over there. Yes. Theyre warning and terror related warning. It is the lets say the some very smart writer says the Airline Stocks are losing out. They dont seem to lose out. Pretty consistent. And finally, they all rely on this thing. Its called crude. Wti crowd at 45. 79 this morning. Lot of earnings to talk about. Intel shares are under pressure. Company reports better than expected earnings and revenue that was roughly in line with expectations. Weaker than expected revenue from the company data center. Chief Financial Officer stacey smith giving a positive outlook for the second half of the year. We have insight into what we think some of the big cloud customers are going to buy. We have new products coming to the data center we think will give them cape capabilities. Momentum in the data center and particularly in the cloud as we go into the back half of the year we think give us more than seasonal growth in q 3 and q4. More on intel from a analyst later this hour. Computer prom left southwest passengers stuck in place. 17 flights were cancelled. 600 were delayed. Tweeted a video update saying there could be additional disruptions this morning. Work to bring it back online. Company expected to report quarter lly results. Thats going to happen at 6 30 a. M. Also on a days calendar. General motors travelers and Union Pacific are among the Companies Reporting results before the opening bell. Well talk to gm cfo Chuck Stevens. Hell join us at 7 50. At t and starbucks, visa, lets think about and chipotle. On todays economic agenda. Ecb comes at 7 45 eastern. Well get some comments from draghi. In the u. S. , weekly jobless claims. The july fed survey are out at 7 30 a. M. Sales released at 10 00 a. M. Expected to slip half a percent. Following a 2 increase in may. And theres a powerful coalition of business and investment leaders back accident a set of Government Principles including dual class shares and replacing ineffective directors. Among the backers of the statement. Ryan rogers and viseson, mcadam and bryan rogers will skroin us at 7 00 a. M. Eastern. And at 8 00 a. M. Well be joined by Warren Buffett. They have been working on this for quite some time to put this together. They would all. Will you talk a little louder. You cant hear me. Theres knnobody here. Im not moving because ive been here long and im used to this. Ive got a pillow built in. You could move. You dont think we can play got from here. This doesnt bother me although i did try to bring, i like to have a lady on the set. I booked someone to come on today. In the 8 00 hour. Ann, and i understand rachel was not available. I love ann culter. Im going to enjoy and were going to have fun with it. I love rafael maddock. Becky will be back to be the wall. She will. Indiana governor mike pence taking center stage last night. It was senator ted cruz who stole the spotlight. Eamon xaviers joins us now from cleveland. It was supposed to be mike pences night. Accepting the lets start with mike pence who told the crowd here he didnt realize he would ever be selectsed as the Vice President particularly with that wild Selection Process we saw him go through last week. He didnt expect to be here, but he was proud to be serving as the republicans Vice President ial pick. Heres what he said. Yet, there i was a few days ago in new york city with the man who won 37 states, who faced 16 talented opponents and outlasted every one of them and along the way brought millions of new voters into the Republican Party. Hes a man known for a large personality. A colorful tile and lots of camera riz ma and so i guess he was just looking for some balance on the ticket. Humor there from mike pence. Clearly the moment that everything is going to be talking about. If you scripted this as a Republican Convention organizer. You would have had that moment and mike pences acceptance be the highlight the news that everyone was talking about today, but of course ted cruz was given a prime time speaking spot last night. There were questions whether he would endorse trump or not. Were told he tolds trump team he would not endorse, but over the course of the speech it became clear he was not going to endorse donald trump for president of the United States. That made them angry. They started to jeer. They started to boo. They started to call for donald trump. Heres how it all went down. If you love our country and love your children as much as i know that you do, stand and speak and vote your conscious. Vote for candidates up and down the ticket who you trust to defend our freedom and to be faithful to the constitution. And that phrase vote your conscious is what had some of the delegates here upset. Thats been the language that the never Trump Delegates are using in the Convention Hall arguing they shouldnt be forced to vet for a candidate they dont agree with. When he said vote your conscious, that set off the trump supporters, we saw this moment towards the end where donald trump entered the hall, taking some of the tv time. Taking the attention of the crowd away from ted cruz so some real man no y mano political stuff. May have been the first night of ted cruzs president ial campaign in 2020. Ive heard we go back a lot of years now, eamon, we always here about 1968. Weve been hearing a lot about 1976 and gerald ford and Ronald Reagan. Comparison to jimmy carter and kennedy where he wanted the endorsement and didnt get it. Im not sure its comparable. Reagan didnt do it like this. Im not sure anyone can be compared. History never repeats, just rime. Steve as a reporter who has been covering these things for a while. Everything is passeng this has not been an infomerc l infomercial. Its not be sterile. Its been real. Theres been roudsdyness both inside and outside. Theres real news. Real history being made here. Well, we always complain on this show we dont get to watch the nba finals because things start at 9 00. I havent able to see things live at night either, but ive wanted to. Thats different than most conventions here to fore. Yes. Im not going to want to watch next week. It doesnt seem like it could be this. I watched this week and i will watch next week. Its not going to be i was talking to michael. Let me introduce him thanks eamon for more on the Republican Convention, we have rnc strategist chip sales man. He worked for both Mike Huckabees president ial campaigns. Bill fris, there he is, the aforementioned democratic strategist mike. I was kid can go around in makeup. We were a couple of guys getting makeup. I was saying that see now i think that theyve talked about Hillary Clinton so much and in such a negative way, i now this next week theyre going to be mean to donald trump at the convention. Do you think i mean, i think it was going to be a highminded Politics Convention next week just talking about how to bridge the fwap and do all that. Now i think theyre probably going to talk bankruptcy. Theyre going to say mean things about donald trump. Dont you think theyre going to be induced to do that now . I think theyve got a plan for that convention. I think theyre probably going to stick to it. And traditionally there are four nights in a convention and you program them. He answered me seriously. You dont think its going to be a trump bash. I think there will be time spent at the convention drawing contrast to donald trump and talking about donald trump without a doubt. And thats not unusual at a convention, but there will also be a period of time to plush out the buyi the buy yg if i of the nominee. I agree that the Republican Convention has been really good television. Im not convinced its been good politics. In the modern area its good for the base. Yes and no. Part of the what the republicans needed to do, donald trump needed to do is bring together and unite the part. Get them energized. That happened last night. The cruz thing was a distraction. Mike pence gave a great speech. Its not what were talking about this morning. Chip, we just went over a a lot of things there. I never know with trump. Theres a method to a lot of the madness and when you see anybody that harbored any sort of sent mental feelings about ted cruz. Grudge doesnt shape all the opinion, but if you do look at what drudge said, he said this guy is in republican now. He went in there with a plan to wreck it. I think it may be in the shortterm. He things its going to be look, i already have a email solicitation. I think longterm thrks is a loser for ted cruz. He came across as absolutely sell fish. He came this is all about me. This is a person that lost. In our world, were taught be a good loser. Sometimes if you want to know the character of somebody is how they act when they lose. In a pav leave yan sense, i. Thought he would have been penalized. People said it was all about him, but then he almost won the nomination. I think he thought it worked for him. The dog, you know, you skpresz get whatever. You get some food. I think i backfired last night. I think he went back one too many times with the selfish ted cruz centric speech. Absolutely. I couldnt agree more. Even his afternoon speech to his supporters like a mini ted cruz convention not at all about the nominee or donald trump or the party. It was about ted cruz. That was good tv. You dont think he won the game . Meaning this is the piece im unclear about. You can be frustrated with him depending on which side of the aisle youre on, but ultimately didnt he win by doing what he did, the fact were talking about it and how ultimately people are going to start thinking or questioning whats going on . So look, shortterm im sure he thinks hes going to win. Ive talked to several people last night. Obviously it hasnt been that far in between. People who leaned towards ted cruz that supported him in the primary that are furious with him right now. Donald trump may not have been my first or second choice, but hes the only option we have to stop Hillary Clinton. This might as well been a Campaign Speech that ted cruz gave next week at the democratic convention. This did more to help Hillary Clinton. But that was his goal. That was his goal. People that were probably could lean to support ted cruz or get behind ted cruz, theyre not going to do that. Hes not running. Im saying if it goes for 2020, like i said he set the precedent now. Lets Say Something happens and hes not the president of the United States. Ted cruz is the nomination in 202 20. I think he miscalculated. Absolutely. I dont think he was expecting boos at the end, back to who is meaner to whom. Locker h eer her up. I understood that. The words associated so far with trump, fascist, racist, ma sole judge nis, i get stuff that says orange hitler is what i see. People write it and even on a supposed journalistic website, every single time the huffing on the post mentioned trump, they call him a serial liar, rampant general phone. Is it possible the republicans have gone over the top of Hillary Clinton when this has been the last six months on donald trump. I go back to what makes good political strategy. Those people are talking to themselves. When theyre chanting to lock her up, those people are talking to themselves. In the end, there may be a group of people. What do you think, 10, 15 . Theyre going to be decisive in this election. Ultimately thats who these conventions are supposed to appeal to and talk to. I dont think this has been successful for them in terms of reaches outside of the hall. Just right now were on day four of the convention. We spent is the first two days talking about plagiarism. This morning were talking about warfare in the party. In the modern day, conventions are the only real estate you have. The kerry convention, oh, my god he came and said im ready for service. Didnt work well for kerry. Didnt work for romney. A lot of them went well for the winner and usually they were there filling out their bio. So it should be boring. Like i said. Good television. Ive been tuning in. Its face nating to me. Im not sure its intending what they want. He wanted a very divided Republican Party on that strategy. I dont know if he can win the general election. Nobody does. Then we have m crazy stuff. Crazy underpinning. Im not saying it has to do with brexit. Im saying the same thing thats hamg, the populous nationalistic to move away from globalism. I agree. This has been a very unsettle time. This is a change environment. Im not sure this trump team has taken advantage of that. All those people that were screaming heidi out of there. I dont think they have connected those dots yet. You think wall street guys are good treasury secretaries dont you. I have no problem with the wall street guy being a treasury secretary. Some of them do know about money. They might know something. Yes. Right. Last word chip, or no . Look, as we go into the Convention Like you said it best, donald trump does everything unconventional i think tonight with ivan ka and. Except for pence. Yes, pence did a great job last night. And i think you saw last night he gave a great speech and there was a lot of good points and he hit on them. This morning were talking about ted cruz. What youre going to see over the next couple of months is mike pence doing a great job at a lot of different fronts. Yes. Pence is 57. That hair is white. Its been that way for a long time. Its been like that ever since ive known him. Its like credibility something i may get rid of the collar roll. You know, and just let it go. Makes me think that maybe all this effort i go through every, you know, because i dont like when i have white roots. I dont like that. When they put the system back on. Yes. I can send it out to have it died dyed or not dyed. Thanks, always great to see you. We are talking to elon musk this morning. Laying out his master plan. Plenty of chatter about the master plan part two from elon musk and tesla. Four main points. Some of these weve known about. I went gr integrate similar city. This is the plan. Why it makes sense for similar city to be part of tesla. Expand the vehicle lineup. Talk about that in a bit. Autonomous drive cars. All of them will be autonomous in the future from tesla and some of those will be part of a car share fleet program. Care sharing from tesla. You as a owner and the Company Running the car sharing program. Developing Autonomous Vehicles was a big part he outlined last night and with regard to autonomous drive vehicles. He plani plans on tesla vehiclee fail safe. The vehicle will be able to continue to drive itself. Dont expect to see auto pilot turned off any time soon despite the investigation of a crash of a model s that was in auto pilot in florida. Writing last night it would no more make sense to detest the auto pilot as some have called for to disable auto pilot in aircraft after which our system is made. One of the comments last night. Take a look at the shares of similar city. He outlines why he believes it makes sense for tesla to be a energy generation, but also a Storage Company with the power wall and Energy Storage division working with the factory interesting comments all around guys. Most of the comments in terms of reaction have focused on a, pretty cool visionary ideas there, and b, never mentions how its going be paid for or what the financial plans are for the future. That should not be surprising. Certainly some people are harping on that today. Thanks so much. Were going to talk tesla later in the show. In the meantime, when we come back, the dow on a nineday winning streak talk strategy with the top strategist. Later Southwest Airlines set to report. Plus the Ceo Gary Kelly joining us in a moment. [rock music playing] [music stops] [whistle] [rock music playing] [record scratch] announcer dont let e. Coli mosh with your food. An estimated 3,000 americans die from a foodborne illness each year. You cant see these microbes, but they might be there. So, always separate raw meat from vegetables. Keep your family safe at foodsafety. Gov. Welcome back to squawk box. The dough hitting the ninth straight up session. The longest winning streak since march of 2013. To tell us if the stretch is going to continue. Chief Equity Analyst at ubs Wealth Management research. Usually after a stretch like this, youre supposed to start selling a little bit because it doesnt always continue. Should we start selling. We dont think so. We think the rally we have seen as good underlying fundamentals. Postbrexit, whats happened. Weve seen labor market improve. Weve seen manufacturing and nonmanufacturing improve. Weve seen Consumer Spending perk up. And broadly the earning season shows this quarter were likely to see flattish growth, but thats better than 6 decline. What happens when the economic analysts start putting out new reports that chasm atcho this. Overall reasonably good. 17 times earning when Interest Rate is under 2 . The valuations are well spo supported. Its not multiple expansion store at this point. I think its mostly an earnings recovery story. Earnings have been flat for the past four quarters. Thats masks really the underlying strength because its been down simply because energy has been a big drag. One we get past those big hurdles and anniversary the different comparisons. Earnings are going