Good morning welcome to squawk box. Im becky quick with Andrew Ross Sorkin and joe kernen. Welcome back both of you some big moves we are looking at today. Lets look where things stand with the markets dow futures are off by 34. The big news is happening with technology stocks. Down 343 points. Thats big you are talking 3 of the market or 3 decline for the index. Thats a big deal when you look at what happened last week on thursday, nasdaq was off 5 on friday, another one and a quarter percent. You are taurking 6 and a quarter decline. Because of what is happening with the biggest stocks in that. Tesla indicated down 11 in the premarket Asml Holdings down nvidia down advanced microoff off 4 . Those that have boosted that weve seen selling off today you are still looking with these declines at a market at higher levels weve run up quickly and we are seeing it now joe. Watching it head higher watching it ever day, we are like this tech stuff is insane benefitting from what we are all liv
With you. Really . The judge how are you . Are you said what have you got . Do you have like chambers there or like, what are you equipped to do if push comes to shove today. You have what do you have at home what have you got. And report on what we report on. Am i the only one. I filled in i filled in recently for a full week and they didnt play the theme music a single time. Hopefully they can make up for it today we didnt hear about it we started having fun. We nip that in the bud pretty quickly. Oh, this is you. Im sorry this is you. So you got that going. Im glad i got up this morning. Lets take a look at equity futures. We try to get a new record on the s p 500. Well see what we can get over the top there. Treasury yields on the rise as of late. 25 last week alone. Theres the ten year not doing too much not all that long ago. We have seen rates starting there and stocks have been on the move well see that new record on the s p this morning. The amount of money were sprinting, i d
Austin, texas and carl icahn out with a new bet against some place i bet we all hung out as teenagers. Good morning, good afternoon, good evening im Brian Sullivan if there is a president cook some day, you can say you heard it here first. That song as annoying as it is gives us a big theme today that is retail yesterdays slam of home depot and kohl sending shock wave through the world. That one, ouch, Urban Outfitters down 16 first, lets go to the macromarkets and stock futures are down again they are in the red today. Off 1. 07 right now technology continues to power on yet another record for the nasdaq and nasdaq 100. The nasdaq 100, if you are not paying attention, please do, its soaring on pace for the best year in a decade year to date. We are up almost 32 because we always like to make you a little bit smarter here. Listen to this, 49 of the 100 stocks are up 45 this year. Two of them, semiconductors lam research and amd have doubled. In the bond market, not moving too much down
Congressman kevin brady will be with us at 8 00. For on hour on set. We have united ceo who will join us at 8 30 a. M. Before all of that, we have two hours. We have a big show today. A lot of special guests. Ron baron. I think this is the 11th year squawk box has joined you live you bring together the investors and ceos and talk to top managers, you also entertain them big guest youvecli included inh past have included rod stewart, and more the star front and center has to be the companies you are vested in lets take about your theme. Why whats next . We are looking at faster growth in the future for the economy, stock market, what do you mean people have higher amounts of cash now Central Banks cant agree on what to do there the fear is estimate those funds for years now a superstar investor cant raise enough to have a business that is viable theyve done well 11 years now they dont want to give it back the stock market today is the same valuation as it was then. Then, it was a mixed
Coming off of gdp number, the s p 500 basically flat financials sees a little bit of strength nasdaq seeing the most up 0. 6 and the dow is virtually unchanged. Pete in gerrenajarian, when thar crossed today, what was your first reaction were seeing the numbers continue to be fairly in line, fairly strong. Weve been impressed by those, impressed by the earnings season take a look at whats really reacting to the financials once again. Look at Goldman Sachs and jpmorgan they have been underperformers thats something thats a little bit concerning to me after listening to mr. Buffett talk about bank of america, one of my larger holdings, im pretty excited about what hes had to say whats the reaction since weve had time to adjust these numbers, in terms of thewall street economist and how they see now q3 and how this impacts what they saw for q2 so technically, todays gdp number doesnt have a whole lot of information well get more information tomorrow, get the personal income and spending d