59 minutes left to trade, kayla. And that green screen is not something we have seen in a while. We have a big show ahead today on closing bell. A big deal for big steel well talk to the ceo from Cleveland Cliffs and his outlook on the economy later, sneaker startup all birds scoring 100 million in fresh funding. Valuing the company at 1. 7 billion the coceo will join us to tell us how his Company Plans to spend that cash and well have that later on in the show. Lets focus in on the big show were tracking to days rally. Theyre covering the latest tensions in the tech cold war with china start us off on the Broader Market and what youre seeing behind the scenes today. Yeah. Market making the case that last weeks lows and got some traction near the levels its not Something Else tachlt a look at the s p 500 year to date all the indices have a similar look with different mag any tudz we were talking about this level for a long time. This is where we hit the lows a few times last week aroun
Oh, snap, oh, oh good morning and welcome to Worldwide Exchange on cnbc im sara eisen. Good morning from me as well. Lets check in on Global Markets, show you what Global Equities are doing after the nasdaq outperformed the three major averages, which were little changed, though you did see big moves, lower for instance in retailers. Walmart was the biggest drag on the dow yesterday. Prime day kicked off last night. Well get to that in a moment. Dow futures are higher, though s p futures are little changed, down less than half a point. And nasdaq futures are down about five points. As for the 10year treasury note yield, lets show you where we stand. We had yields come off recent highs yesterday, though not meaningfully, and were still sitting below 2. 40 on the 10year yield. Still multiyear highs. Yields moving up again today. Seemed like yesterday in europe it was single day of yields slipping a little bit. Data out of asia car sales returned to growth in june with total vehicle sales
U. S. Equity futures this hour, lets show you whats going on, suggesting a flat open s p opening lower 1 1 2 points, the dow slightly lower and the nasdaq lower by four overnight in asia, quiet session around the world, generally. Hang seng higher over 1. 5 , but t shanghai was lower european equities. The dax is higher by 0. 25 france and the ftse slightly lower. Italys higher by a third and spain is lower by 0. 25 . Their yields are backing up over there once again that has resumed take a look at crude wtis lower by 20 cents, a decline of 0. 5 , 44. 15. If youd like crude delivered in august pepsico just out with Quarterly Results. Sara eisen has the numbers 10 cents above on earnings, i see, sara. Sure looks like a big beat. Eps 1. 50, versus the 1. 40 expected it includes a 6cent gain from a sale, but its an estimate, so its unclear whether that factored into the analyst forecast, but either way, a beat on the profit line, a beat on revenues as well for pepsico, 15. 7 billion. The
Worst performer is spains ibex 35 and theres wti which i know my partner here will have a lot to talk about he almost always does. It is often a key to this market, down this morning. Lets get to our road map this morning. It starts with the start of amazon shopping holiday, as the rest of retail suffers plus a number of recent ipos that have fallen below the bear syndicate what their pricing was, what it means for the valuations and rest of the companies that want to go pep. Pepsico is out with its results as earnings season begins. Well speak to the companys cfo on set in just a minute. Amazon prime day is under way. The company highlighting deals aimed at enticing customers to become prime subscribers as a number of retailers are coming off a rough day on wall street we were talking about it here before it began. Macys saw shares fall 7 . Best buy was yielding 7. Reports about a geek squad effort at amazon, jcpenney down now in the premarket after announcing the departure of its cfo
Goal has been to consistently engage with china in a way that is constructive, to manage our differences and to maximize opportunities for cooperation. And i have repeatedly said that i believe it is in the interests of the United States to see china grow, to pull people out of poverty, to expand its markets because a successful and stable and peaceful china can then serve as an effective partner with us on a range of international challenges. Last night during our discussions, i mentioned to president xi that as powerful as the United States is, the nature of the Biggest Challenges we face, things like Climate Change or terrorism or pandemic or refugees, those are not issues that any one nation alone can solve, and we recognize because of our strength and the size of our economy and the excellence of our military that we can play a special role and carry a larger burden, but we cant do it alone. China, despite its size, still has Development Challenges of its own, so it cant solve the