The city of nice after a truck ran down people celebrating bastille day. Michelle with the latest. Reporter new footage shows the truck that killed 84 people filmed by a freelance journalist. The 28 ton truck with hand grenades plowed through on the french riviera. People jumped into the sea while the semi moved more than a mile on the boardwalk. Police shot and killed the attacker and theres video obtained by the Associated Press that appears to show the moment when it happened. The u. S. State Department Said two americans are among the victims of the attack. Nbc news reports they are 51yearold Sean Copeland and 11yearold from texas. They were on vacation. Two Police Officials tell the ap that identity papers alongside the attackers with 31yearold frenchman of tunisian origin. No known connection to terrorist groups, not yet, at least. Eight months and a day after suicide bombers killed 130 people in paris. Michelle crusoe cabrera. Thank you. For more, the paris bureau chief at the financial times. Thank you so much for joining us. No problem. Were still waiting for some more word about the attackers apparent motivation. What do we know at this point . Well, we know a little bit more about the attacker. He was tunisian. He was born in tunisia. He had a work permit. So he had a residency in france. And he was 31 years old and resided in nice. We know that he was a father of three and went through a bad divorce. Thats pretty much what we know. So president hollande cried this out as a terrorist attack and investigators try to establish whether theres any link to terrorist organizations like isis or others. But thats pretty much what we know now. A lot of discussion here in the states about the method of this attack, the fact it involves a truck. You dont need to go through airport security. You dont need a gun. Although, in this case, it appears he did have one. How does this evolution and the nature of attacks especially in france, how is that being discussed there today . Ive discussed the situation with some terrorist experts and theyre telling me that its a modus operandi that isis in terms of attacks. But now, in france and nice and particularly after the euro tournament, its been so well guarded. But, you know, you have to use less guarded areas or, you know, places for attacks. So thats basically what theyre telling me at this point. We last spoke with you a few months ago after that brutal shooting rampage in paris. Three attacks in your country since january 2015. What is the mood . What is the response in france . Are people feeling numb to it . What do you think is going to be the political ramifications for Francois Hollande after extending the state of emergency . The mood is very grim, as you can imagine. The political fallout, i think, you know, this time as you pointed is just big attack on french soil and president hollande, a few hours earlier, had announced that he would, the state of emergency would expire at the end of this month. So it looks pretty bad. And today, a Position Party is already reacting pretty negatively pointing to negligence or failings of intelligent services. And last week, parliamentary can came up with conclusion about the failings of french Intelligence Services. So the pressure is going to be very high on president hollande this time. What you havent mentioned is whether theres a backlash on immigration and possible membership of the european union. Inevitably in this country looking into the eu, theres a perception after the uk voted as it did that france may follow that track in some form. Is that your reading of the situation . Is that what people are saying so far . I dont think people are drawing conclusions but theres definitely the far right to benefit from this latest attack. As you know, there are president ial elections next year and in less than ten months and the reader of the National France is already predicted the second round and has, you know, an antiimmigrant stance and shes in favor of exiting the eu. So theres definitely the antiimmigrant sentiment growing in france. Although, anne, we know he was a french tunisian. So its not like he was a fresh immigrant as far as we know. We talk about Intelligence Services. All reports indicate he was known for committing petty crimes. Why is this going to be seen a rebuke of Intelligence Services when its hard to imagine anybody could have predicted that a petty criminal could do this. I mean, youre completely right. There are questions about a recent reform though in 2008 that merged several services, and resulted in sending out a terrorist network of field agents. And this network has been reduced and criticism that it shouldnt be the reform was that it was a bad move by Nicolas Sarkozy at the time. There will be questions about the reform and also the failings. Because for some reason, police are not able to detect this kind of attack. Maybe its not detectable. But at the moment, theres a high criticism over the reforms of Intelligence Services. Once again, the world mourns for france. Ann annesylvaine chassany. The New York Stock Exchange will have a moment of silence. But in the meantime, trying to watch some of these Bank Earnings today. Citi and wells fargo before the bell. Higher after earnings Beat Estimates and profit falling less than expected. Wells basically a match in the Second Quarter. Earnings and revenue in line with analyst expectations. Look at the futures following that mixed set of data in the last hour. David, sort of decent numbers and deposits in lone growth but remains troublesome for these guys. Theres a thought that perhaps, well, if theres a continued push in the Mortgage Market given historically low rates could benefit from that being how strong their business is in that area, but to your point, that interest margin has been a concern all along. Wells does not look to be opening much lower this morning. Deposit growth we saw significant yesterday with j. P. Morgan. People recall 10 year over year. A stunning number in some ways but that does continue perhaps a sign of people at least, well, not sure. I guess its unclear why theres so much deposit growth whether its coming from other places. Perhaps europeans putting money here as a result of negative Interest Rates or a sign of other things. If you look at the survey we had from ubs this week suggesting wealthy people in this country have the highest cash deposits. Financials are the best performers this week. Theyre still down for the year but that seems to be the story and thats the rezyl yenls given they faced such increasing pressure on margins in the form of low Interest Rates that theyre compensating that in other ways and this week has really been, what a rally its been. The four days in a row of record highs for the s p 500. Multiple sessions for the dow. If we get it today, thats the First Time Since the late 90s. The japanese yen had its worst week since 1999 and that helped carry the japanese stock market up 9 . I think whats interesting is the market appears to be moving ahead of where the analysts were. If you look at bank of america, Merrill Lynch. The highest in nine months in the week that ended on wednesday and of course, the fundamentals are good. Retail sales are good. Were picking up from a strong employment report that we had last friday. I think the tenor is changing to the point that sarah makes in this rotation to cyclicals and financials. Absolutely right. Retail sales with a 0. 6. We were looking at 0. 1. Some individual sectors building. Its the biggest increase since 2010. You might watch a home depot and see that reacts. No surprise, weve got fed officials saying two hikes this year, still in the realm of possibility, they say. It seems like of all the fed speak, the big takeaway is that theyre not in a hurry to raise rates. 11 of 12 actually grew, got some declines in clothing and food service. So got to get through Industrial Production in a couple of minutes and university at michigan at the top of the hour. Well get u. S. Reaction to the terror attack in france and what both president ial candidates had to say. Well take another look at that and the futures which remain solid. More squawk on the street in just a minute. From over 30 billion connected devices. Just 30 billion . A bold group of researchers and computer scientists in silicon valley, had a breakthrough they called. The machine. It changed computing forever. And its been part of every new technology for the last 250 years. Everything . Everything this year, Hewlett Packard enterprise will preview the machine and accelerate the future. See star trek beyond. Industrial productions now on deck. Lets get to rick santeli. The read for the month of june up twice expectations. Up 0. 6. Now we did as much as but not much. Down standing down 0. 3. And industrial solid. Lets look shall we. We expect a number close to 75. 75. 4. No revisions there. And 75. 4 isnt necessarily jumping out considering we had 75. 7 in january. 75. 6 in february. But its definitely better than low read of the year which was 74. 8. That was march. That took us back to 2010. So less negative on our last look and virtually solid across the board on the data points today. Inflation a little bit hot. The only thing that isnt happening is lots of trading treasuries but not much yield movement. Sarah, back to you. Rick santelli, happy data today. Thank you very much. In the meantime, we follow the terror attack in france that left at least 84 people dead as you can see, french president Francois Hollande is speaking now. He said about 50 people are at this point between life and death after the nice attack. Clearly as many as hundreds have been injured. Well continue to monitor that. And at the same time, john harwood with more on official reaction in this country. John, good morning. Good morning, sarah. You know, as weve seen time and again with these horrific episodes, the president ial candidates are forced to react. Both Hillary Clinton and donald trump phoned in to Television Shows last night, put out tweets saying they stood in solidarity with the people of france. Donald trump saying he was the law and order candidate. Weve got to stop this sort of thing. But the more dramatic consequence was with donald trump because he was all set to announce his running mate at 11 00 a. M. Here in new york. But all indications, it was mike pence, the governor of indiana. He had campaigned with governor pence earlier in the week. His family met with governor pence for breakfast at his home. Then we had governor pence fly to new york last night. Laned at the airport and waiting for the announcement and facing a deadline himself. Because hes got to withdraw from the indiana governors race. Hes seeking reelection by noon today in order to let Indiana Republican haves the chance to nominate a successor to get on the ballot in that Gubernatorial Race but donald trump after the attack postponed that announcement, said he has not rescheduled it yet but expect to hear it later today but donald trump, also during his interview on fox last night said he had not made a final, final decision on his Vice President ial choice and Newt Gingrich who was considered the other finalist with mike pence went on fox himself last night and took a strong stance in the war on terror. Heres Newt Gingrich. Western civilization is in a war. We should, frankly, test every person from here who is of a muslim background and if they believe in sharia, they should be deported. Anybody who goes on a web site favoring isis or al qaeda or other terrorist groups, that should be a felony. And they should go to jail. Any organization which hosts such a web site should be engamed in the felony. Thats a controversial prescription. I was talking earlier today with a former Bush AdministrationNational Security official who said, what about the First Amendment . Newt gingrich just put out a facebook message a while ago saying, my remarks were distorted. Hes going to clarify those. But weve got to figure out whether or not donald trump is moving in any different direction just before coming on air, i got a note from a Trump Campaign aid who said my instinct is no, hes not going to change his mind but Paul Manafort on television this morning saying until it comes out of Donald Trumps mouth, its not final. One last quick question here on gingrich. Is there something about the nature of this particular attack and the way it was done that you think might make some of those proposed solutions more aggressive . Well, i think the more attacks we have, orlando, paris, san bernardino, now this and nice, the more pressure there is for people to demonstrate toughness and i think thats what newt was doing. The question is whether the policy prescription is practical or not. John harwood in washington. Thank you so much. The New York Stock Exchange now going to hold a moment of silence for what we know now is 84 People Killed in the attack and according to hollande, at least 50 more between life and death. Heres that moment of silence. Mary buys a little lamb. One of millions of orders on this companys servers. Accessible by thousands of suppliers and employees globally. But with Cyber Threats on the rise, marys data could be under attack. 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Now that youve got the three big earnings, what type of opportunities are you finding . Well, i mean, what were really looking for is that flat curve and the tenure. Tenures bounce a little bit. If that tenure continues to lay here, we dont think theres a lot of opportunity but that has tenure comes up, if it does koukoucome up, youre going to sit there and say, why didnt i buy all day long. And any of these institutions like a usvp, we would be buying today. Gerard, is that really what its about . Looking at those net interest margins which have narrowed both for wells fargo and citigroup this morning or is there more beneath the hood that makes these banks compelling to you right now . I would say that the Interest Rate environment is critical because it does impact the margin as paul pointed out and you just referred to and point out that the large money centered banks have the Capital Markets activity which, as you saw yesterday with j. P. Morgan and it was more prevalent today with citigroup, those numbers were better than expected. So you do have that kind of boost but i think most investors are looking at the federal rates and if theres no action on the short end of the curve and the yield curve continues to flatten, these banks are going to still have that head wind victim back. Can i come back on the point given what gerard said about the idea there could be a refinancing boom that would boost wells fargo. What would that be based on . Wheres the profitability in that if the mortgages are becoming less, would it be a oneoff set of new mortgage fees . It will be like a one off thing. If you get a solid refire boom, you got six or seven out of wells fargo but that would help earnings. Bottom line, its all about the yield curve and rates. If rates continue to stay here, it will burn itself out and youll be sitting with these things probably where theyre trading today. What did we learn about some of the other risks that were faced like oil and gas. The oil exposure have been heavy on these stocks. It seems to be getting a bit better. Youre absolutely right, sarah. It is much better this quarter versus the First Quarter. You might recall the regulators had a special shared National Credit exam in the First Quarter directed at energy. Everybody had the boost up their reserves. That did not happen in the Second Quarter particularly with the price of oil stabilizing in the 40s. So not much of a problem, still way on the stocks but nothing like it was six months ago. Paul, what does it mean for the other