johnson joining us from our european headquarters. headline number for me unchanged. guy: they will keep the they purchase facility are saying they do not have enough information to make a decision at this stage. maybe at the beginning of august we may see a rate cut. sterling has picked up on the back of that, no rise to see what is happening. we will have to wait a few more weeks before we get that decision. everybody waiting to see what will happen. i do not know a reflection of whether they believe a rate cut will have zero impact on the u.k. economy, or want to see the effect of the brexit referendum story will have. it: a stronger pound, knee-jerk reaction in the fx market, yields higher off the back of the 10 year gilt yields around 0.7%. is this to do with a lack of data? all we have is a confidence survey. a bit of data but not much. sentiment about consumer there are not much indications that some businesses are delaying investment and hiring, some signs prett
election, you are making political statements that are consistent with the democratic party. yesterday yellen strongly criticized the proposal that would allow the fed additional audits. sales of homes did slightly last month. the 481,000, hovering near at six-month high. the northeast of the biggest drop since 2012, the lovely weather probably had a big impact. the midwest of the biggest enough 19%. the west dipping slightly in itself up 2%. uber plans to hire hundreds of people in china this year. this comes after the two largest chinese rifles merged. meanwhile, starwood the writers will get points to the hotels that include the saint regis the w, western. the first partnership or ub er.greece won a four month bailout package. creditors one actions will speak louder than words. the greek finance minister has just spoken with erik schatzker in an exclusive interview. i hear they are talking about whether greece will be able to make repayment. despite problems and the
we can for about the economy and the financial systems on a regular basis. we participate jointly in many international meetings including those g7 and g-20. we confer on matters that are coming before those groups. republicans have proposed bills to put feet that under more public scrutiny to. greek firemen and s millions are flowing back into greece after the euro bailout deal. millions of dollars. we spoke to erik schatzker. we had a deposit. $700 million. 700 million euros came back. and the use of this i haven t checked the numbers but it will be there. you are still down. once you turn the tide you are up. he says he is counting on the european central bank to help avoid default when it runs out of money. salesforce loses $66 million. subscription and support revenues are up. salesforce is pushing data analytic services. it is not helping them make profit. investors like its shares rising. morgan stanley agreed to a two $.6 billion settlement with the
there are a few names squeezing out some names. there is a lot going on, of course. apply existing home sales rose 6.5%. you can see it remains a mixed bag. we should also note that toll brothers came out with their fiscal order profit. it fell 24%. there are a lot of buyers that rushed in. you can see it is up about a half% right now. our next guest says we are in for some turbulence. do not worry just yet, we see some great buying opportunity. joining us to talk about all of that is scott wren. we are in a dip now. you would expect that we would reverse that. i think so, adam. pullbacks are opportunities. it is the same thing we are telling them now. so far, not big on a percentage basis. it is an opportunity. i would like to see a little bit more. we want them prepared for the next year and a half. i think it will overall be good for the market. adam: do you think that the worst is over for them? the back-to-school season has not been very good. these retailers have
buy, neutral, comes after young sales in china disappointed on some can chicken issues there. that s one to follow. goldman downgrading shares of young. linked in, buy ahead of earnings. buy toll. virtual, doc. gap stores, 34. long ieo and energy player etf. i think it goes higher. that does it for us. don t forts to catch more fast at 5:00 p.m., follow me on twitter and scott wapner cnbc. power lunch starts right now. indeed it does. welcome to power lunch, everybody. bulls, large and in charge. the dow trying to wipe out monday s triple digit loss. we have two breaking news stories this hour. president obama to speak in 15 minutes time. he will ask congress to come up with short-term packages to put off automotiatic spending cuts. hampton, we begin with you, budget office right now releasing its budget and economic outlook. give us details. reporter: the budget office, assumes no change in current laws, 2013 fiscal year budget deficit, $845 billion. cbo