>> good morning and welcome to "world wide exchange" on a thursday on cnbc. i'm sara eisen. along with don chew who is in for wilfred today. >> good to be here again. >> especially on a golf story. let's check in on global markets and show you what futures are doing. the dow closing higher by 40 points thanks in part to apple and goldman sax. >> the losing streak is done. >> it continues this theme where it was minor losses and minor gains and it looks like equity futures just slipped into the red. they were higher this morning. >> by all of four points on the dow. very flat markets overall like you said. >> the biggie tomorrow the government jobs report for the month of july. yields slowly creeping higher. 1.54 is the yield on your 10-year. some selling of treasuries along with selling of stocks. >> just like the stock market, we haven't seen a huge amount of selling pressure. we've seen yielding higher over the last couple of days. not a lot, but still like you see there yields ticking ever so slightly higher. let's take a look and the see whether we're getting cues from the european markets right now. we are seeing a bit of a positive side of things if you want to call it that. the dax in germany up. the cac in france the ftse 100 very flat ahead of that very important interest rate information and perhaps kind of forecast. >> decision where they really hinted there is action coming the question is what. >> they call it super thursday. it's not anything primary related, but has to do with interest rates. the ftse mib in italy up.80%. we did see a little bit of strength in one key market. that's japan. you mentioned it over the past few days the yen a huge driver there. the nikkei up trading today. the shanghai composite up. the hang sang hong kong up. >> oil dipped yesterday and went bovp it. it's absolutely flat now. wti hovering around 40 level. brent inching towards $43 a barrel. we saw strength in dip in gasoline inventory. it was the dip in gasoline that folks say turned the price of oil around headed higher. as for the u.s. dollar, it has been weakening over the last few sessions. let's show you what it's doing right now. the pound is weaker and that's what you're going to be watching today into that interest rate decision from the bank of england and any action that is announced pound weaker if there is if for instance a qe program announced. depends how much is baked in already to the price, but the weakening of the pound would signal that it would be a surprise at least. >> there certainly a number of strategists and analysts out there not expecting additional qe measures to be taken. maybe just the interest rates now. catalyst for markets especially in rates globally. you can see the pound reacting that way. >> dollar stronger against the yen too. 101.41. that is a better tone. it did help lift japanese stocks. >> i want to show gold prices rights now. every time we talk about the dollar and currencies goeltd is certainly part of the equation. down about half a% right now. 13.58 we'll call it. 1357 the last reaction. also let's watch today's jeagen. weekly job claims out. initial filings are expected to hold around 265,000. at 10:00 a.m. look for june factory orders. the bank of england is holding the policy meeting today. the decision due around 7:00 a.m. eastern time followed by a news conference at 7:30 eastern time as well. then dallas fed president rob kaplan speaking in shanghai in the next hour so a full packed calendar on the macro front. on the earnings side of things, kellogg and vie come reporting before the opening bell. after the closing bell we'll hear from activism blizzard. >> today's corporate story, tesla the electric car maker reporting a loss for the second quarter. revenue also mist missing estimates at $1.5 billion. that was 30% higher than that number was last year. despite the miss, tesla speaking to ambitious plan that calls for creating 80,000 cars in the 2016. elon musk addressing those goals on the conference call last night. >> we're aiming to do internally is to do better than 2,000 a week in sales and delivery in q4 combined. i feel fairly optimistic about achieving that goal. yeah. i think our core business is actually doing quite well. >> so the reassurance that they would be able to ship 50,000 cars on the second half of this year along with the 500,000 number in 2018. reassuring you might have thought with the big head line miss the stock would go down. no. beats to its own drum. and traded higher initially. sort of was all over the map a bit and a small move higher. >> a company that's considered visionary. i like what happened with amz.com back in the day. amazon.com back in the day. always given a pass. >> it turned the revenue growth. >> it did, you're right. >> this company had a history of yes, delivering, but the timing. >> correct and they've run into production snags here and for. again i would point out we're seeing the muted reaction. for a stock in tesla motors it's down 6%. it's down about 13, 14% over the course of the past 12 months so it hasn't participated alongside many of the other stocks in the market. so tesla, yes a muted reaction as you pointed out, but maybe some investors giving it more time. remember all of the hypes surrounding elon musk coming out with that master plan part two if you will, and maybe that's the reason why investors are saying okay we'll wait and see what happens. you have this ambitious production goals we will sate and see if you can dlifr on them. >> the cash burn was a little less than expected. still $144 million. >> tesla not the only stock to watch today. the media company shows higher affiliate revenue revenues, but film studio remained a weak spot. launching a share buy back program. here's lock plan murdoch on the conference call. >> released clearly fell short of the expectations we had going into them. it is our goal to be far more consistent with this output. let's move on to square. uptick in sellers revenue beat and revenue guidance for for current quarter that was inline for general wall street estimates as well. >> walk into an apple store and see the nfc and contact list and chip card reader right away definitely helps continue to push a lot of people into the square eco-system. >> a check on square shares there at least in the premarket showing a little bit of at least some signs of strength. 15% for a stock who has seen weakness overall. earnings pliszed by a lot as so did revenue the shares off 4.35% in extended hours trading. >> some other movers here, jack in the box fast food chain beating on the top and bottom line. shares rising despite weak earnings guidance. raising significantly more than 7%. toyota reporting a drop in profit as the strong japanese yen flashed earnings. sales also fell weighing on the results. >> siemens energy division helping to bolster its results. >> apple ceo tim cook taking to twitter to announce a milestone. tweeted last month apple saw highest ever billings and money paid to developers. during apple's recent conference call. apple has shown strength when it was on the back of the better earnings report or the didi uber news. apple is a little bit back in favor these days. >> or in anticipation of what could be a favorable cycle for the iphone 7 as well. apple shares up nearly 12 pkts. it was hovering below for quite some time. obviously a very big big component for the dow and the s&p 500. also now, ackman selling. sparking a turn around in a statement he says canadian pacific has completed an incredible transformation. as for the share reaction there, you can see off 2.25%. a sharp decline in second quarter profits and revenues because of lower shipping volumes overall. part of that transportation story. certainly ones to watch in addition to just the airlines. >> turns outs july was a good month for hedge funds. posted best you returns of the last month as stocks rebounded. here are the best performers. her cat toe capital management. 2016 has been a sdointi in disappointing year. most of those july gains stlung the losses for the year. >> first hawaiian bank which is controlled by bnp. giving the company a valuation of around $3.2 billion. this is the largest bank ipo in the u.s. since the royal bank of scotland spun off citizens financial back in 2014. first hawaiian saying it sold more than 21 million shares at $23 a piece. that's at the top end of the range. it will begin trading today under the symbol fhb. when we come back, the bank of england expected to cut interest rates for the first time in seven years today. we'll take you to london and talk about the likely market impact next. mr. clean gets tough on dirt and grime and grease in just a minute mr. clean will clean your whole house and every room that's in it floors, doors, walls, halls he's so tough, he cleans 'em all mr. clean! [suspensful music] good morning. a developing story to tell you about out of london this morning. a 19-year-old killed one woman and injured five other people in a knife attack late last night. a man was arrested minutes after police were called. he is now in police customer in a hospital with early indications suggesting mental health may have been a factor in this case. the investigation is at an early stage. police say terrorism as a motivation is a line of inquiry they are exploring. >> certainly a developing story to watch there. also coming out of engine language the bank of england meating right now a policy decision due around 7:00 a.m. eastern time. our own julia chatterley joins us live from london with a prove. i guess the expectations have to be set right now. tell us what exactly people can expect to hear coming out of mark carney the governor of boe. >> good morning guys. the bank of england widely expected to cut rates today for the first time in seven years. that cut has been fully priced by the rate's market because of course mark carney effectively backed himself into a corner hinting there would be easing this summer when he spoke after the brexit vote. i think you should expect a bounce in sterling if he doesn't cut, but the bigger question here is what else can he do? some analyst think he might increase the bond purchase program, the qe program we had in the uk by 50 and 100 billion pounds, but guys with bound yields so low, the bigger question is what good will either of these measures do. we spoke to the chief of one of europe's biggest insurers aviva and he was skeptical about the process of easing and the impact it will have. >> i'm just not sure what a rate cape is trying to achieve. you've already got low rates. is it really going to stimulate it? it's a confidence issue. what i'm hoping for is a wider passage from the government stimulating things like infrastructure. >> so guys, in that vain, watch mark carney for a nudge to the uk government here regarding the need for more fiscal stimulus too. he'll also want to keep some powder dry in case some of the real data comes through. so far we've seen survey data. let's get the real stuff through and get a sense. watch the inflation forecast today. remember we've already had a lot of easing in sterling so that is efekts i'll helping the uk economy in easing of its own. that has higher inflationary impact. all things to watch today. >> and the survey data has been pretty abysmal when it comes to the tale of the economy. when we were there, there was a lot of noise, a lot of political noise about mark carney. he was getting some grief for weighing in on the brexit vote. and being too political about that. has that blown over? >> it's an interesting question, sara. he suggested it will be a catastrophe on the uk economy. they've had to roll back, haven't they, but i think the government now is more focused on not hitting deficit or surplus targets here. they're going to provide more fisc fiscal stimulus. providing more stimulus here as well, but also dialing back a bit on the fear factor that was introduced ahead of that vote. we'll see what he comes up with today. >> all right. thank you so much for that. certainly a big market catalyst coming up. coming up on our show, is it a business bogey. a big deal in the industry. you're watching cnbc first in business worldwide. what's it like to be in good hands? like finding new ways to be taken care of. home, car, life insurance obviously, ohhh... but with added touches you can't get everywhere else, like claim free rewards... or safe driving bonus checks. even a claim satisfaction guaranteeeeeeeeeee! in means protection plus unique extras only from an expert allstate agent. it's good to be in, good hands. welcome back to "world wide exchange." good morning. let's get you up to speed. market action futures down barely. nasdaq down 6 after a minor rally. at least reversing the seven-day losing streak for the dow yesterday. >> political news this morning there's mountsing pressure for donald trump to tone down his campaign for republicans to denounce him and the republican to explain cash overnighted to iran possibly. >> reporter: donald trump is trying to link that cash to hillary clinton even though that payment went out years after she left office, but republicans are glad at least now he's focusing on her instead of focusing on them. >> love in that room was so incredible. >> praising military families after publicly criticizing one. today veterans in washington will pressure republicans the denounce him. >> there's nothing he's going to do to dissuade me from voting for him. no way. >> the party may intervene over refusal to support top republicans. they rather him focus on hillary clinton. trump claims she's initiated negotiations for a $400 million cash payment to iran. >> as far as i know it had nothing to do with any hostage swap. >> it happened years after clinton left. the obama administration insists the payment was for a cancelled contract. not ransom. >> it is not. was not. we said that from the beginning. >> folks, how stupid are we? essentially put a price tag on the head of every american traveling abroad. >> clinton is focusing on trump's businesses. >> i really would like him to explain why he paid chinese workers to make trump tides. this is one of them. it's got his name on it. of course. >> reporter: she tours a small business in lolas vegas today. >> her lead shows her with a ten point edge of trump right now. >> tracie potts, thank you for the news. moving to the olympics. the opening ceremony is just a little more than 36 hours away. the torch made it. a small number of small protests again have marred the arrival of the torch in recent days. it's wound through rio and several or brazilian cities. last week a group managed to swipe the torch and put on the flame. >> again the opening ceremony not until tomorrow, but the games in rio are already underway. the u.s. women soccer team playing the opening round match against new zealand last night. alex morgan would ood another goal in the second half. the u.s. winning 2-0. up next for the reigning world cup, they play france. >> go team usa. we love them. good luck. >> also on the sports front, nike gets out of the club business. narrowing the focus to just apparel, footwear, and partnerships with the progolfers. the move comes as the industry is struggling. golf is the smallest category for nike major aoverall. tiger agent tells cnbc that woods has a long-term relationship with nike and will continue to be a loyal brand ambassador overall so meantime, you've got that front. then you've got adidas another huge company reporting second quarter earnings this morning. the german company seeing improvement in the golf business. that's taylor made adidas. was looking to sell that business which includes the taylor made brand, that sort of thing, so certainly nike and adidas two of the sportswear in the world. >> nike has been associated with several big name athletes throughout history and most importantly, michael jordan. signed jordan to an endorsement more than 30 years ago and report dlif still makes $100 million a year off a shoe deal. nike co-founder told jim cramer it is not easy to identify the next michael jordan. >> our endorsements at nike we use a very sharp pencil and we pass on endorsements from time to time. there was a great soccer club in europe and we said it's too much. not worth it to us. you can read about a lot of money for endorsements including michael jordan, but he's absolutely worth it. as is lebron james. >> the company has its eye olym if you haven't read his new book, shoe dog. that is the book of the summer. put it on your reading list. kim kardashian, still loyal to the blackberry brand. there's now word she may jump ship. why straight ahead. watching "world wide exchange" sfi first in business. it's not an anti aging face cream it's realizing beauty, doesn't stop at my chin. roc's formula adapts to delicate skin areas. my fine lines here, visibly reduced in 4 weeks. chest, neck and face cream from roc. methods, not miracles. good morning. sit decision day in london. bank of england decision just 90 minutes way. tesla, square, herb lite, nike, round up of the big movers coming up overall, plus pokemon go finds its way tole brazil just in time for the olympics. you're watching "world wide exchange" on cnbc. good morning and welcome back to cnbc. i'm sar eisen and don which you here. >> weakness, it's marginal. s&p futures indicated to open down by all of 2 points perhaps. the dow jones off by six points javr all and the nasdaq down by about 7. maybe not so much the equities from europe because we did see at least earlier on a little bit of strength coming out of european markets. the german dax up by two-thirds of one%. the ftse 100 in the uk awaiting the big interest rate decision from the bank of england. just about flat. the foot might be ftse mib in i had of course we got some other cues from asia which did see a nice green overall. shanghai composite up. the nikkei in japan reversing a little bit here. 1% gains for the nikkei in japan. hang seng in hong kong up.5%. >> the broader market picture in oil has been a theme. we are seeing losses this morning after gains earlier. down .4 of a percent. brent tinternational benchmark off. as for the treasury market, let's show you what's happening with the 10-year yield higher. slowly, but surely here. 154. we're off the lows we saw several weeks ago, but haven't seen a jiegiant move up. certifies were okay. we'll see what jobs show tomorrow. as for the u.s. dollar, dollar index sitting around a six-week low right now. actually as longer a bit gengs the euro and japanese yen this morning. the weaker japanese yen helped. the pound is weaker ahead of that bank of england decision. 1.3291. see if it stays weak after we get the decision and news conference. gold quickly show you the rally we saw earlier this year and over the last few months has halted and we've held the gains, but oil not doing as much lately on the back of the weaker u.s. dollar. excuse me. gold. >> tesla posting a bigger than expected quarterly loss. results were hurt by higher spending, but the company says it is on track to deliver new vehicles during the second half on the dompbs call elon musk talked about the future and driverless cars. >> full autonomy is going to come faster than anyone thinks it will and i think what we've got under development is going to blow people's minds. blows my mind. >> suggesting he will be ready to give more details on the project towards the end of the year. >> other stocks to watch today, herbalife profits and selling coming in better than expected. pointing to stronger demand for weight management and nutritional products. stock getting a little bit of a boost. nokia earnings dropping. among the reasons weak sells of mobile network products. now raising cost cutting target. first similar earnings in revenues topping wall street estimates. saw higher demand for its modules. >> also weather news here square getting a big pop this morning. topping estimates in the payments company now raising full year guidance. those shares moving sharply higher. you can see up by about 17%. shares of trip adviser under pressure. earnings and revenue missing wall street analyst marks there. you can see trip adviser off 7%. jack in the box looks to be a winner today. shares rising after the winners beat the streak. company benefitting from improving sells. bucking a trend in restaurants: >> so much for doom and gloom in the restaurants. >> texas road haas, mcdonald's. there are bright spots. >> no doubt. >> and some of them are likely winners on erns. now to summer sizzler series. landon dowdy has been doing that all summer. joi joins us now with a lot list. >> we're still sizzling over here. summer today and the stocks that are sizzling the most health care takes the number two spot. that's up more than 7% since the start of summer sols tis. the sector usually isn't in the list. here's the reason we're seeing the shift. the concern over political rhetoric has died down. what specific stocks are sizzling. mallen krot down. that's thanks to strength in the bio tech firm. bi biogen up 35%. regeneral ron to target cancer. >> thank you so much for those sum sizzlers. did the u.s. in effect pay ransom so free american prisoners at the moment the obama administration was implementing that nuclear deal? the white house says no. critics are saying the timing is deeply troubling and nbc chief foreign affairs andrea mitchell reports. >> reporter: it is the a tale of two exchanges. four american prisons finally released last january. at midnight an unmarked car goal plane loaded with cash takes off for tehran. $400 million frozen by the u.s. since the hostage crisis with iran in 1981. is the payment coincidence or ransom. violating a long standing u.s. policy not to pay. the president next day claiming no connection. >> nuclear deal done, prisoners released. the time was right to dissolve this dispute as well. >> donald trump pouncing. >> this was something all started by crooked hillary clinton. >> although it took place four years after clinton left office. >> we basically paid ransom to the iranian regime. >> defending the deal. we do not pay ransom period. this was not ranransom. >> former brother jason rezaian. >> i'm really thank you they did everything they could to bring jason home and the others we'll. >> does it damage credibility as ronald regularen. a no ransom policy the white house sticks to when refusing to bargain with isis. >> you should never pay ransom for hostages. i'm concerned the iranians might think that's the deal they got. >> white house press secretary told reporters yesterday that the payment to iran resolved a long financial dispute between iran and the u.s. he calls this a six month old news story and suggests it's being pushed by opponents of the nuclear deal with iran. now another story. fit fin ex. hong kong exchange was hacked. $70 million in market value. some top trending stories today. clint eastwood leads our trending story, coming out in support, sort of, of donald trump. the actor and film maker saying our country is oversensitive and despite the fact trump has in his words said a lot of dumb things, he has his vote over hillary clinton. worth a read as he yuszs some color frl language to describe his political thoughts and views. he says he's just not pleased with what's been going on in washington lately with president obama and all of the back and forth. >> he praised trump. it was refreshing. that's obviously something he gave that famous empty chair speech at the convention the last time around. >> he said we're done with the political correctness and i've got to go for trump. he didn't want to see a continuation of obama. so we ask for you take on this story. do you agree with clint eastwood the world has gotten too politically correct. you're options yes, relax, no sensitivity is key or it doesn't really matter. tweet us in your votes. they change throughout the day. yesterday we asked who would be better for business and the early lead went to clinton, but the winner of the poll was donald trump with 60% of the vote thanks to everyone who voted. we got several thousands responses. >> great viewer sentiment gauge if you will. another trending story mere. pokemon go has been released in brazil. it's a good thing too because some athletes had already been playing the mobile game racking up hefty phone charges. in terms of a phone bill in rio after his teammates persuaded him to download the game right after he touched down in brazil to this day, sara, i've been urged to download this game and hunt for them. >> what's taking you so long. >> have you done it? >> i haven't. i feel like i have because i have a husband who is obsessed with it. >> and i have a wife who says i can't down load it. >> we have pokemon in our apartment. in my bed i've seen a pokemon. >> i can't to go there. >> yo can sleep easy tonight. the becky with the good hair has been solved. finally been explained by the writer herself. diana gordon who wrote the controversial lyrics says becky doesn't refer to one person in general. many believed it referred to infidelity. becky was thought to be a code name for designer rachel roy. here's what the song sounds like. >> nope you only want me when i'm naughty. better call becky with the good hair. you better call becky with the good hair ♪ >> i don't know if people are going to believe that. >> i'm not as up on the pop cull clur for sure. >> i missed this whole controversy. i don't know how it happened, but i did. one thing i have been keeping track of is the kardashians. blackberry may have lost its biggest supporters here. kim kardashian has long been a user of the phone. her latest blackberry broke and she's not taking it well. she took to twitter to tell her fans and ask if she should try a new device. samsung responded to the reality tv star to suggest she try one of their phones after the endorsement from kardashian who has 47 million followers. shares of blackberry rose slightly in yesterday's session to i will not connect the dots and say specifically because of this particular kardashian. >> samsung was all over it. >> of course. why wouldn't you want kim kardashian. >> i can relate to that because i too have two defines. two different services. >> exactly. same with mine. >> today's must reads. check out the trading picture in europe right now as we wait for the bank of england policy decision. best performer in the dax thisa. 26% rise in sales in north ameri america. stay tuned you're watching first in business worldwide. cnbc. before taking his team to state for the first time... gilman: go get it, marcus. go get it. ...coach gilman used his cash rewards credit card from bank of america to earn 1% cash back everywhere, every time. at places like the batting cages. ♪ [ crowd cheers ] 2% back at grocery stores and now at wholesale clubs. and 3% back on gas. which helped him give his players something extra. ronald reagan. more cash back for the things you buy most. okay, so what's our latest data say? our customer is a 21-year-old female. heavily into basketball. wait. data just changed... now she's into disc sports. ah, no she's not. since when? since now. she's into tai chi. she found disc sports too stressful. hold on. let me ask you this... what's she gonna like six months from now? who do we have on aerial karate? steve. steve. steve. and alexis. uh, no. just steve. just steve. just steve. live business, powered by sap. when you run live, you run simple. . welcome back to "world wide exchange." paul ryan writing in usa today not about donald trump. about zika. he says for its part the white house turns a blind eye to all this. it demands more funding while sitting on unspent funds. calls for more aggressive mosquito control. block that authority it points fingers at republicans knowing full well that senate democrats are being obstructionists. referring to the bill that was blocked by senate democrats that would approve more than $1 billion in zika funding. jam policy changes, cut money from other programs like contraception for women and other republican priorities. clearly this is at a stalemate and trying to get the money passed for zika. either way this is an increasing problem. >> the money is running out for that particular funded programs we'll see if that has any sway. my pick is in the "washington post." it has to do with politics and it's titled i was captain kahn's commander in iraq. the commander saying he's voting with his conscious this year. we live in a dangerous world chltd we need leaders steady, patient. we need somebody who has respect for our gold star families. it's interesting here because we're talking about the general who commanded again, captain kahn's forces back in iraq weighing in on this and of course the controversy around how veterans are being treated or how the rhetoric has down in many parts of this nation. one prominent voice speaking out for sure. >> you get the feeling the kahns who have been very vocal. whether they will continue their push against donald trump. the constitution, that he held up, was one of the best sellers on amazon. it made an impact. you wonder if it it is going to sway the polls. see when the dust settles what the polls show. >> of course we're approaching the top of the hour. the team at "squawk box" getting ready for their show. becky quick in new york here with a look at what's coming up. you always have great guests. what's going to be the forefront for you guys this morning. >> let me tell you first, i want to jump off on what sara was just talking about. good morning. sara that was my must read and that was the story i was going to point out to everybody that from paul ryan today. this has been a game where both sides have been pointing the if i think finger and blaming the other side while nothing is getting done. i was really hoping he would call congress back to deal with this prab. he did not. he said this is an issue where the administration is sitting on money, that they've done their best to put a bill forward and that's what you hear from the other side too. in the meantime whem who are pregnant who have been turned around come in seeking test to find out if they've been exposed have been turned away because the testing is not there, the money is not there. we did speak with florida governor yesterday. he said he needs more money from federal government. trying to take care of it with state funds right now. this is a call from cdc telling women to avoid a certain area in miami. the concern is it's a much broader area than that and congress is on vacation while all of this is happening. you have not heard additional calls from the president to do something about this. so again, both sides saying the other side should stop playing politics, but looks to me like both sides are continues to play politics. we're going to talk about that today with doctor scott gotlieb. he will tell us the threat and the potential for an outbreak being wider than we've already seen and we want to talk to him about the issue of this is something so dangerous to pregnant women, but does that threat go away once the child is born. we're going to talk to him about that coming up this morning. >> i was going to say it's certainly top of mind. it's an issue when it comes to the money. it it's an issue when it comes to health. we're looking to cancel a trip to miami. >> i bought a lot of bug stray. >> we cancelled a trip to florida. two of my sisters-in-law we were supposed to go down in february. we cancelled at the advice of our doctors who i thought were being incredibly protective. i'm really glad they did tell us to cancel. only 4% of american women are pregnant at the time. that does to the include the number of people who have small children and thinking about starting a family. it's a huge issue for a major segment of america and one washington doesn't seem to be paying traengs to. they've got the boe. interest rate decision coming up. we're going to prove that plus u.s. job data earnings. what drives the direction today. art hogan join s us next. stay tuned you're watching cnbc first in business worldwide. welcome back to "world wide exchange." let's show you futures right now. wall street set up looks flat to mixed. this is ahead of a key bank of england meeting coming this morning. also more earnings last heavy day of earnings. dow snapping a 7-day losing streak yesterday. s&p 500 rose for the first time in three sessions. joining us from boston is art hogan. how much of the bank of england decision is psychological event even for investors here in the u.s., art? >> i think it's important the anticipation is always important to us in markets. it's set up already in the pound sterling so if you got any sort of surprise, you would have a bit of a bump up in the pound sterling. i think the market got it right this time and the bank of england has plenty of runway to make the move today and signal what the plans are in the future. so i wouldn't expect any negative surprises coming out of that. what we really should be focusing on is getting a good jobs number. after that abysmal may report. we had a nice june report. >> art, it's dom, one of the big questions that i have or perhaps some of your clients do, this idea that the market has been hovering with the marginal gains and losses for such a long time. what are you telling clients in terms of explaining it? are we setting up for a move higher or lower? what can we read about the market action we're seeing right now. >> that's a great question. if you look at the market on balance we started the market with a drawdown. we're up 20% from the february lows and post-brexit we had a drawdown and we're up 9% from there. the market actually found a way to get to equilibrium in a slow growth and slow earnings growth environment. i think what's key for investors now is to look at the second quarter earnings reports and see that we're at an inflection point for the s&p 500. i think we're going to see now revenue growth for the first time in four quarters. we've seen a significant number of beats. i think you need to start thinking about getting out of defensive plays and focusing on growth sectors like technology and industrials. >> which have been outperforming this week on a quiet week. technology, health care and financials. you mentioned the job report as the next keel catalyst for the markets. are we in a place if the job support is good, decedent, better to expectations the market will rally off the better economic news or does the fear turn to the reserve. just in the last week they still would like to do. >> sara, that's a great question. i think when you think about this, the market is in a position where good news is good news. i think there's no number high enough for the jobs report on friday that's going to move us into thinking the fed is going to do something for the election. the fed wants to raise rates. all of the feds we've heard over the last month or so or since the last meeting has pushed to the fact they would like to do this, but they will be ready in september. we get a lift off and go from there. one more spres rate hike in year regardless of how strong the job's market is and that's it for the year. >> good news is good news on the economy. we'll see. >> tomorrow's big job report. >> that's it for "world wide exchange" this morning. stay tuned to "squawk box" next with the bank of england coming up. you get used to sweaty odors in your car, you think it smells fine but your passengers smell this... eliminate odors you've gone noseblind to for up to 30 days with the febreze car vent clip break out the febreze, and [inhale/exhale mnic] breathe happy. good morning. the first time in seven years we're going to tell you what to expect. also an intervention for donald trump. the gop allies are apparently trying to smooth things over with party leaders. plus, are you giving up on golf? we're going to tell you why nike plans to stop making clubs, balls and bags. it's thursday august 4, 2016 and "squawk box" begins right now. >> this is the way to wake up. good morning everybody. welcome to "squawk box" here on cnbc. i'm pick committee quibecky qui sorkin. joe is out this week. you saw the dau break a seven-day losing streak. oil prices picked up. this morning, things are relatively flat. looks like a mixed picture, but the dow futures are only up 2 points. s&p down less than a point and nasdaq down less than five. obviously a lot of people waiting to see what happens with the bank of england today. overnight in asia you did see market gains with the nikkei up 1%. more modest advances from both the hang sang. european markets you'll see there are some green arrows there as well. this is different than what we've b

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