procter & gamble another individual story we are watching. higher input costs and tariffs are having an effect. procter & gamble strong namebrand. they are able to pass some of those costs to consumer. those higher costs adding 3% to topline revenue growth. procter & gamble continuing to show us how to get it done. guy? guy: let's get back to the pound story and the debate over brexit and the debate -- the impact boris johnson strategy is having on the u.k. economy. joining us is alastair campbell, former press secretary for the labor leader and prime minister tony blair. he has just written a letter to jeremy corbyn saying he no longer wants to be readmitted to the party because it is facing an "existential crisis." thank you for taking the time to join us. , the onlyi can tell opposition to boris johnson's brexit move is the financial market. the pound is down sharply over the last few trading sessions. why aren't the political opposition parties stepping up? some of them are trying to. sturgeon, the first minister of scotland, i think the

estee lauder, mcdonald's, nike, chipotle and procter & gamble. i wouldn't buy them here in the first week of earnings season but the to tbottom line they ar going away they'll be the second half winners the big money guys can't get enough of. memorize them, people, because i bet they keep winning for the rest of the year let's go to kevin in california, kevin? >> caller: hi, jim, from sacramento, california boo rah, big jimmy ge, i came in at 28 at 2014. i wish they held onto their appliances what do you think of next earnings and jane from sacramento is madly in love with you. >> there you go. two calls on this, first as ge is out of the woods but second that doesn't mean it can necessarily advance. doesn't matter where you bought it matters where the stock is going to, came from. i hold onto it not just for keepsake but i genuinely believe one day larry kulp will pull this rabbit out of the hat rob in florida >> caller: hey, boo-yah jim. sunny south florida. >> nice, rob >> caller: blackstone group symbol bx. i'm a big ttd guy but i've been wat

exclusive interview for you, procter & gamble ceo david taylor will be here to weigh in on what was the best quarterly organic revenue growth in years. joining us now for the hour, though, charlie baa brinskoy from aerial investments. industrials are an interesting standout today given lowered expectations for u.s./china trade hopes. what is that about >> low expectations. we had some people report and they were better than people's fears. we had big companies, the big maker of drilling rigs people were worried about that, they beat, and the stock was up almost 15% zebra technologies makes scanners, and that business was better than expected, the stock up 15%. >> low expectations, you think, which are easy to beat on earnings, but not on the fed you think maybe only able to cut in the short-term? >> yeah, that is the consensus prediction i happen to agree with it, which is one cut, 25 basis points. i don't think they'll pull a bait-and-switch. i think they would not want to mislead the market i think that will happen, but it is fully baked in. >> charlie's with us for the full hour.

assets, we are taking a look at under armour, procter & gamble. under armour pretty good. they see full-year revenue coming up by 3% and 4%. the market still down by about seven points for the s&p. procter & gamble pretty solid, up by 3%. 2020 organic revenue growth coming in pretty strong, beating estimates. core earnings growth also beating estimates. david: they see more organic growth coming up, so a good forecast as well. we will definitely get a good read on the consumer through the next couple of hours. you're seeing the s&p down by seven points. it is a mix. the cable rate completely falling out of bed. where will you actually see the bottom? finally it seems like markets are understanding a boris johnson prime ministership and the potential for crashing out of the european union. yields pretty much go nowhere. crude up by about 1%. it is really the cable rate. it has been unbelievable. the gauntlet thrown down. david: as you say, boris johnson is playing a very high-stakes game of chicken. we are getting out october 31, and you've got to change the deal. the eu ha

move back this is where you have to think about taking a loss. >> i don't see what people see about procter & gamble you have 1.4% earnings, so i don't get it they report on the 30th. again, everything dan said is right, the stock just moved higher with the broader tape i think this stock is still in play >>> up next, your tweets and the final call i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪ i'm not really a, i thought wall street guy.ns. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? h

shares of p&g, procter & gamble, up 4% after its earnings report. this is a record high for this stock. we'll have much hoar on that later on >> thank you very much with the dow just above 27,000, the president this morning saying we would be 10,000 points higher at 37,000 on the dow if not for the fed's actions. so with 24 hours to go until the fed decision, we know the president would give jay powell an f for his performance as fed chair, but how did chair powell do in the cnbc fed survey? mr. liesman knows. steve. >> yeah, i'm not doing the grading. our panelists. about 40 or so economists and fund mangers in the survey, giving powell a b-minus. you can see how this compares with the final grade of yellen, a b-plus, and bernanke at a straight b and you know what, powell had to navigate hikingerates and then going to hold and then going to what looks like a cutting modality here, mode for the federal reserve. let's look at where they think he's good and bad. here are the best grades that he got. regulatory expertise, market knowledge, and transpar

maria: we saw it in the procter & gamble quarter. right now, capital one reporting a day a take breach affecting about 100 million people. deirdre bolton is here with details on that. deirdre, good morning to you. >> good morning. this is addresses, dates of birth, self reported income. this is the biggest breach 2019 when we saw equifax have this kind of effect as well. this young lady, 33 years old, she used to work for aws, she used to work for amazon, their web services, she was a systems engineer, this is the person they think has been the hacker for this. the intention was to sell the data online because basically if you can get access to people who have amazing credit, great self reported income, that's worth more on the black market. you go out, apply for credit, apply for mortgage in someone else's name, so most people say that was her intention to sell it. it highlights the weakness of the web services. so she knew amazon's system very well. in this case, where capital one had a potential breach in the firewall, she was abl

season some big names reporting today in the u.s we'll talk about apple more with elizabeth in a bit and procter & gamble, mastercard and pfizer to name a few in asia, we had a slightly better session nikkei, we had the bank of japan meeting. the index ending the session about a half percentage point higher not the case for europe. only one hour into the trading session. the broad composite index is down a half percentage point we're in a negative zone this morning. all the focus yesterday was on the ftse ftse 100 yet again bucking the trend. we had that big plunge in the currency yesterday sterling down 1.5 percentage points. that gives somewhat of a boost to the ftse 100. today the results are the index is being lifted a bit by those bp results we were talking about. that we also have bank of england on thursday xetra dax trading a bit weak we talked about bayer and lufthansa dragging it down and we had the cac 40, second quarter gdp numbers came out slightly weaker than expectations the ftse mib down 1% now actually we're a good 50 poin0 s lower than where we were when we went into the ecb me

we'll get reports from merck, under armour, procter & gamble and eli lilly before the bell. we'll also get you ready for apple after the close. it's tuesday, july 30, 2019. one more day in july, i think. "squawk box" begins now. ♪ >>> live from new york where business never sleeps, this is "squawk box." >>> good morning welcome to "squawk box" on cnbc. we're live at the nasdaq market site i'm andrew ross sorkin along with joe kernen and melissa lee. becky has the day off today. the dow looks like it would open off about 40 points. nasdaq down about 28 points. the s&p 500 also looking off, but we'll call it 6 1/2 points for now. let's show you what's happening overnight in asia. a board of green arrows across nge board.

. >>> and procter & gamble is throwing its support behind the u.s. women's national soccer team and their fight for equal pay. the company says it will donate $23,000 for each of the 23 hel close the pay gap. earlier there year, 28 members of the u.s. women's soccer team said the u.s. soccer federation for alleged gender discrimination. the suit claims the federation pays the women less than members of the men's national team. >>> anne-marie? >> marc liverman at the new york stock exchange. thanks a lot, marc. >>> still ahead, jumping for joy. more than 100 dolphins put on a rare show off southern california. california. over the last 24 hours, you finished preparing him for college. in 24 hours, you'll send him off thinking you've done everything for his well being. but meningitis b progresses quickly and can be fatal, sometimes within 24 hours. while meningitis b is uncommon, about 1 in 10 infected will die. like millions of others, your teen may not be vaccinated against meningitis b. meningitis b strikes quickly. be quick to talk to your teen's d

they add to a strong reaction on social media with some people quantify action against procter and gamble the us behind the aerial brand boycotts dariel were muslim and we love our culture or religion and our rituals the government should take strict action against ariel brand i miss my request to all my dear pakistanis that please boycott ariel a soon as possible because religion comes 1st and this is our responsibility to protect our religion boycotts ariel prime minister of pakistan we want ariel cloth washing detergents banned in pakistan immediately for driving and spreading anti islamic campaigns through media we asked our guests for the take on the touch and how far foreign companies should go in pushing religious boundaries. i don't think it's a big u.s. companies job to insert themselves into pakistani culture or if it was women speaking up against their own culture that would be one thing but i feel that it's very wrong for a western company to come in and insert themselves in a culture that maybe isn't adapted the same way that american culture has and a lot of these women it h

. >>> coty looks to restructure after acquiring brands from procter & gamble nearly three years ago. the four-year plan hopes to increase revenue while also keeping up with rivals in the beauty cosmeticsindustry. shares fell more than 13% to $11.59. >>> south bend, indiana, mayor pete buttigieg's campaign sayse presidential hopeful has raised nearly $25 million in the last thr months fro almost 300,000 donors. that is likely to be among the highest amounts raised by any of the demsratic candidan the second quarter. >>> and home depot co-founder bernie marcus tells the atlanta journal constitutann that he to give up to 90% of his fortune to charity when he dies. it's estimated his net worth is between roughly $4.5 and $6 billion. he is also a big political donor, having been a top donor to president trump's run in 2016. he tells the paper he will contribute to his re-election bid. >>> the koch name is among the most influenti when it comes to political fund-raising. today one of the koch brother brought together big-money donors to discuss where to put their moneyn our highly politici

they add to a strong reaction on social media with some people calling for action against procter and gamble the us behind the ariel brand boycott burial where muslim and we love our culture or religion and our rituals the government should take strict action against ariel brand i miss my request to all my dear pakistanis that please boycott ariel a soon as possible because religion comes 1st and this is our responsibility to protect our religion boycotts ariel prime minister of pakistan we want ariel cloth washing detergents banned in pakistan immediately for driving and spreading anti islamic campaigns through media. we all still grasp of the take on the touching and how far foreign companies should go in pushing religious boundaries. i don't think it's a big u.s. companies job to insert themselves into pakistani culture if it was women speaking up against their own culture that would be one thing but i feel that it's very wrong for a western company to come in and insert themselves in a culture that maybe isn't adapted the same way that american culture has in a lot of these women

the out to a strong reaction on social media with some people calling for action against procter and gamble the u.s. behind the ariel brand. boy could ariel we're muslim and we love our culture or religion and no rituals the government should take strict action against ariel brand and it's my request to all my dear pakistanis that please boycott ariel assoon as possible because religion comes 1st and this is our responsibility to protect our religion boycotts ariel prime minister of pakistan we want ariel cloth washing detergents banned in pakistan immediately for driving and spreading anti islamic campaigns through media we asked our guest for that take on the turd herd and how far foreign companies should go in pushing religious boundaries. i don't think it's a big u.s. companies job to insert themselves into pakistani culture or if it was women speaking up against their own culture that would be one thing but i feel that it's very wrong for a western company to come in and insert themselves in a culture that maybe isn't adapted the same way that american culture has and a lot of t

they add to a strong reaction on social media with some people calling for action against procter and gamble the us fans behind the aerial brand boycott burial were muslim and we love our culture or religion and our rituals the government should take strict action against ariel brand i miss my request to all my dear pakistanis that please boycott ariel the soonest possible because religion comes 1st and this is our responsibility to protect our religion boycotts ariel prime minister of pakistan we want aerial cloth washing detergents banned in pakistan immediately for driving and spreading anti islamic campaigns through media we asked our guests for that take on the television tad and how far foreign companies should go in pushing religious boundaries. i don't think it's a big u.s. companies job to insert themselves into pakistani culture or if it was women speaking up against their own culture that would be one thing but i feel that it's very wrong for a western company to come in and insert themselves in a culture that maybe isn't adapted the same way that american culture has and a

. >>> procter & gamble is now supporting u.s. women national soccer team's fight for equal pay. they are a sponsor and are donating $529,000. the amount is symbolic it works out to $23,000 for each of the 23 players of the u.s. team that won the world cup. they took out a full-page ad in the new york times. the national team filed a lawsuit claiming not only the pay gap but travel conditions, training and have a more rigorous schedule.>>> american airlines says it will ground it's boeing 737 max just through november 2 two months longer than its earlier target. it has been reset five times. the faa says there is no assurance they will be back in the skies before next year. boeing is trying to reassure airlines it will be ready. the process of developing and certifying new software and training pilots has run into many unexpected delays. the original software problem has reportedly been fixed but it is still not yet been approved by the government. check out this will be a big week for nasa celebrating the golden anniversary of the first time man stepped on the moon. that include

that's tough to do no matter where you are, mondelez is doing it right whether it carries the procter & gamble and into other product names. and they have pricing power. >> there you go. >> consumer have paid them >> it's almost looking frosty, but then there's earnings reports like this. >> and the argument have been the valuations have been looking expensive as of late i think exactly what dom just said mondelez, unilever, kimberly-clark, they have pricing power, despite the fact we've seen slower global growth and they've been able to price higher. >> and this was even p & g, they took a big wrydown. >> or i don'ts, the most stuff just keep putting more stuff -- just take out the cookie and just have nothing but stuff. [ laughter ] >> different kinds of stuff. all those flavors. i have realized the carrot cake might be one of my favorite. >>> next epps. shares of astin martin hit a new low today, down nearly 75%, guys since going public last fall this was after the british car maker posted a $96 million loss for the first half of the year and cull the full-year forecast because of

dagen: it's virtue signaling on behalf of procter & gamble. >> i hope procter & gamble has equal pay inside the ranks of itself. it's easy to dive into the conversation. dagen: a lot of tech companies brag about equal pay but they have a small percentage of their workforce represented by women. apple in their tech jobs, it's a little more than one-fifth of people in actual technical jobs are women in that company. lauren: senator joe manchin proposed legislation that would block funding for the 2026 world cup unless the women's team gets equal pay. dagen: this is something somete teams can fix. citi numbers out ahead. stay with us. ♪ get up off of that -- but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. content on their endless quest, to nowhere.s, run hopelessly in their cage. but perhaps this year, a more exhilarating endeavor awaits. defy the laws of human nature

procter & gamble rising on earnings. this coming at a time as the fed starts its meeting. president trump did not help market sentiment when he lashed out at china saying it was ripping off the u.s. late market trading, we did see the sentiment recovery as president trump said he recently spoke to chinese president xi jinping. the s&p 500 fell three chance of 1%. the nasdaq down a quarter of a percent. interesting to see small caps outperformed large-cap sweet the dollar held near a two month high. u.s. futures gaining 1/10 of 1%. let's see how we are setting up for the asian open. paul: new zealand has been trading for a couple of minutes now. not a lot of action across the terminal at the moment. the index looking kind of flat. futures out of australia also looking at little weak. the ask hit a record high on tuesday. we do have second quarter cpi numbers out of australia later on. a data heavy day. nikkei futures higher by 1/5 of 1%. keep an eye on -- it slide tuesday afternoon on news of bad loans. mitsubishi, ufj reporting todayk, futures a little weaker as well. sams

the upside, procter & gamble put up a big quarter, the best sales growth in a decade, and the home builder up 5.5%, beating the highest estimates. no concessions. investors liking that. if we going to the bloomberg, we are in the middle of the summer. another stretch where we are not seeing a move of greater or less than 1%. huge volatility in the fourth quarter, lots of moves earlier this year, but right now day 36 without a move of 1% to the upside or downside. will be in just a whether the fed decision tomorrow will break that streak. david: many thanks to abigail doolittle. he is the man president trump turns to for device on china. michael pillsbury from the hudson institute joins us for his take on the talks in shanghai. that is next and this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. we turn to mark crumpton for bloomberg first word news. mark: president trump is criticizing china, saying it continues to "rip off the united. date" -- speaking tome reporters outside the white house, the president said "we are either going to make a great deal or not

procter & gamble reported its best quarter of organic sales in more than a decade. consumersped up -- snapped up beauty and health care products in particular. bp buck to the china disappointing oil and gas earnings. the british company beat expectations and increase cash flow in the second quarter. higher production at bp offset the effects of lower energy prices. that is your "business flash." still ahead, all about the democratic presidential debates. this is bloomberg. ♪ taylor: live from new york, i am taylor riggs. guy: from london, i am guy johnson. this is "bloomberg markets." let's get a "first word" news update. kailey leinz. kailey: and mexico, president lopez obrador is calling on the central bank to lower rates. he spoke to john mickelthwait in his first interview with international media since taking office. obrador: more cautious about inflation. this is not a bad thing, no. is not the wrong thing to do. i'm not saying that. it's important to lower the rates to encourage growth. lopez obrador says that president trump has toned down his rhetoric aga

what coke and procter & gamble and pepsi are waiting for is for the fda to come out and say we think the average adult can have 100 milligrams of cbd a day and it is safe to eat and drink. that hasn't happened. right now, this is the wild west. it is treated like a health supplement where there is not a ton of regulation but the big boys, the companies will wait for the fda to say this stuff is safe and legal and here is what you can do with it. carol: in the meantime, we are seeing a global supply chain created. talk about that. craig: coming off the farm bill, the u.s. market for cbd is exploding. around the world, you are getting legal cannabis markets in places you could never have imagined even three years ago. everyone is looking to the u.s. and saying cbd is the next buzzy ingredient. let's grow some hemp. it is happening in china, colombia, across europe, other countries in asia. hemp because it is less restricted the marijuana is becoming a thing at the center of the first legal global cannabis supply chain. jason: taylor riggs joins us now. areor: g tv , we tracking the

well-established both in the economic data and the strength in stocks that show pricing powers stateside, like procter & gamble. it would have to be something that we are not looking at now, like industrial stocks or banks continue to get off of the mat. shery: luke kawa, thank you for that. don't forget to tune into our special coverage of the federal reserve's rate decision wednesday at 2:00 eastern, 7:00 london, 2:00 a.m. thursday in hong kong. now let's turn to monetary policy in mexico. lopez obrador says interest rates in his country are too high. he spoke exclusively to bloomberg in mexico city. >> one thing is what is to be desired, and a different thing is what is possible. i would like the central bank to work not only on controlling inflation, but for it to be thinking about growth as well. we are talking about what the central bank is doing. they are more cautious about inflation. no. is not a bad thing, this is not the wrong thing to do. i am not saying that. but it is important to lower the rate, to encourage growth. this is an issue that i am leaving for the central bank to decide. we a

what coke and procter & gamble and pepsi are waiting for is for the fda to come out and say we think the average adult can have 100 milligrams of cbd a day and it is safe to eat and drink. that hasn't happened. right now, this is the wild west. it is treated like a health supplement where there is not a ton of regulation but the big boys, the companies will wait for the fda to say this stuff is safe and legal and here is what you can do with it. carol: in the meantime, we are seeing a global supply chain created. talk about that. craig: coming off the farm bill, the u.s. market for cbd is exploding. around the world, you are getting legal cannabis markets in places you could never have imagined even three years ago. everyone is looking to the u.s. and saying cbd is the next buzzy ingredient. let's grow some hemp. it is happening in china, colombia, across europe, other countries in asia. hemp because it is less restricted the marijuana is becoming a thing at the center of the first legal global cannabis supply chain. jason: taylor riggs joins us now. taylor: gtv , we are tracking

what coke and procter & gamble and pepsi are waiting for is for the fda to come out and say we think the average adult can have 100 milligrams of cbd a day and it is safe to eat and drink. that hasn't happened. right now, this is the wild west. it is treated like a health supplement where there is not a ton of regulation but the big boys, the companies will wait for the fda to say this stuff is safe and legal and here is what you can do with it. carol: in the meantime, we are seeing a global supply chain created. talk about that. craig: coming off the farm bill, the u.s. market for cbd is exploding. around the world, you are getting legal cannabis markets in places you could never have imagined even three years ago. everyone is looking to the u.s. and saying cbd is the next buzzy ingredient. let's grow some hemp. it is happening in china, colombia, across europe, other countries in asia. hemp because it is less restrictive than marijuana is becoming a thing at the center of the first legal global cannabis supply chain. jason: taylor riggs joins us now. let's talk cannabis by the numb

. >> i like the head and shoulders out of procter, to 120 i think bank of america was a good quarter goldman sachs number one jpmorgan number with citi number three. bank of america, number four wells -- >> 10, 11. >> how many banks are there in the country? >> once they get a ceo, do they move up the ranks? >> you think they're going to get a ceo. i don't think -- that could be the headless horseman. four horse men and the apocalypse. >> they have an acting ceo. >> lawyer. >> but, hey, lawyers have run banks before moynihan runs bac. prince ran citi. >> the dancing has stopped at wells. >> the dancing stops reference to chuck prince, got to dance. >> overall, have bank earnings inspired you at all? >> yes, because the consumer is so strong. my deep wish is that jerome powell stays in europe, remains worried about brexit, or does nothing but read the csx quarter over and over and over again which was -- terrible report there is no more tightness in trucking, david. >> powell is giving us no reason to doubt that we'll get those 25 basis points >> in, woeno, he's worried about everythi

neither can procter and gamble. why? they're throwing their support behind the women's national team and their fight for equal pay. how are they doing that? $529,000 they'renating to the national team's players association. part of the e secret deodorant brand. why the figure 529? represents $23,000 for each member of the 23 player world cup roster. inequality is more about pay and players, says procter & gamble, it's about values. this is on the eve of mediation to do something about the gender inequality. hopefully this will put even more pressure on the federal gender discrimination and on the soccer league to do something to change the fight, to change it so that women get equal pay. these women have delivered. if i wasn't already wearing secret deodorant, i'll go out and buy myself some today. comes in a lovely blue tube. lovely blue thing. >>> only on "cbs this morning," we went behind the scenes to see what the "apollo 11" crew did in the hours before they blasted off for the moon 50 years ago today. curious whate

we'll also hear from four members of the dow tomorrow, merck, pfizer, procter & gamble and apple. nearly half of the s&p 500 companies have reported earnings so far with three quarters beating profit forecasts and nearly two thirds topping revenue. lauren: new missile tests have been carried out over alaska. this comes days after iran tested a medium range missile. ashley: allison barber in jerusalem with the details. >> reporter: the israeli ministry of defense said they successfully demonstrated the missiles outside of the atmosphere. the tests took place in alaska. israel's prime minister says they intercepted targets at heights and speeds not known until now. >> all of our enemies should know we will overcome them defensively and offensively. >> reporter: iran test fired a medium range ballistic missile on wednesday. it flew over 600 miles from southern iran to an area in northern iran outside of the capital, tehran. arrow three is the top tier of israel's multi layered shield which includes the iron dome and arrow two system, all of it meant to defend rockets. since president

if that isn't enough, we have drug makers and big oil on the week specials, everything from procter & gamble, berkshire hathaway, under armour, lot of names that you own. what's filling wall street's minds and bellies? earnings or the fed? to our floor show traders. scott, i will talk to you first. we know traders don't always square with investors but tell us what you will be focusing on here. >> i will be focusing on earnings and the fed. i think at this point everyone pretty much thinks it will have a quarter point cut, not a half so that's kind of baked in. now we have to go company by company. i think apple tomorrow is going to be huge. it will measure the u.s. consumer and then we get to see actually are the chinese consumers not buying apple products because of the sentiment of the u.s./china trade wars. i think tuesday, tomorrow, apple will be very important. i think we get a quarter point from the fed on wednesday. liz: can you imagine, phil, if the fed surprised either with no move which they won't do, it's so expected at this point, or a half point move which i wouldn't nec

what coke and procter & gamble and pepsi are waiting for is for the fda to come out and say we think the average adult can have 100 milligrams of cbd a day and it is safe to eat and drink. that hasn't happened. right now, this is the wild west. it is treated like a health supplement like st. john's wort where there is not a ton of regulation. the big boys, the companies, will wait for the fda to say this stuff is safe and legal and here is what you can do with it. carol: in the meantime, we are seeing a global supply chain created. talk about that. craig: coming off the farm bill, the u.s. market for cbd is exploding. around the world, you are getting legal cannabis markets in places you could never have imagined even three years ago. everyone is looking to the u.s. and saying cbd is the next buzzy ingredient. coca-cola will want it. let's grow some hemp. it is happening in china, colombia, across europe, other countries in asia. hemp, because it is less restricted than marijuana, is becoming a thing at the center of the first legal global cannabis supply chain. jason: taylor riggs j

another record, we have nice expansion of new highs today, even on the dow same thing procter & gamble, nice diverse group highs, american express, home depot has been on for a while, and walmart for some reason they're loving restaurants these days we have a whole bunch of new highs with darden , a couple others, chipotle, yum brands also hitting 52 week highs guys, back to you. >> bob pisani, thank you the nasdaq also closing at record levels. and bertha coombs has a look at the movers there, bertha >> it was a big nasdaq 100 move today. the 5th straight day where we saw record close and/or intraday high for the nasdaq 100, and nearly 1 1/2 dozen new highs within that group, including amd, the texas instruments, all-time highs for pay pal, starbucks, and microsoft as well, though microsoft closed absolutely flat on the day among the big cap names overall, not that much of a big move to the outside. apple was the stand out. amazon getting that much of a lift i guess they're on sale for prime day. back to you. >> thank you, bertha, for that now citigroup kicked off banks earnings this

at the time, there were procter & gamblesty 24 comic book shops in san francisco. today there are just eight left. com comic experience is the oldest comic bookstore with the same location and the same owner who is also a major figure in the comicbook industry. the features and traditions that define the business include the two locations, 305 divisadero and 2381 ocean avenue as well as their window displays, graphic novel of the month club, reader and creator focused business model and the video archives. the second legacy business application is for hockey haven, which is a neighborhood sports bar established in the outer richmond district by renee trudeau, a french canadian who played hockey for the new york rangers. he moved san francisco and opened hockey haven. the bar has had only three owners and remains a thriving neighborhood business. the features include the location at 3625 balboa, the televised sports t wall of fame on one interior wall, including photographs of renee trudeau. the monday night steak dinner. pool table, outdoor garden, pebble dash fron

and think about it our backgrounds, the team's background are bath and body works, procter & gamble, beers dorff. we understand how to manufacture across the world at the highest cosmetic standards, whole foods standard, gnp. let's do that with cbd, which we felt nobody else was doing we have the most comprehensive assortment of topical product. and this is what is amazing, jim. eight months ago, it didn't exist. so we're excited this is a speed race and it's amazing. it's just obviously -- >> you know, irwin simon, long-time guest on the show, from a previous company, okay -- freea. you did make a hostile after a stock got knocked down why didn't you try to combine friendly -- you know, or -- you mentioned whole foods. you know that walter robbins is on the board couldn't something have been worked out there >> well, i think that -- that was exactly the way we approached it. it was opportunistic i wouldn't say we have any plans to go hostile on anybody in the future or to go after an lp but that was -- at that point in time, it was opportunistic we knew that team well irwin hadn't y

procter & gamble, a 4.5% gap, new all-time record high and 52-woke high for colgate palmolive. these aren't cloud or software or services. these are toothpaste are and i think you've got a big enough cross-section when you throw in mcdonald's and throw in companies from disparate industries serving different areas of especially the consumer, you could say that things are very, very good, and so i'm not sure what the insurance cut is supposed to do other than maybe get the tweets to stop, and so they will do it, and i really don't think it matters tremendously we're advocating portfolios that are rational regardless of what the fed does it's been the right approach we've been rewarded with 15% annualized returns in the s&p over the last ten years for ignoring all the noise why the would i stop today >> josh paints a scenario in which theoretically stocks could go up based on good fundamental news earnings are good. now you're going to get the turbo boost of jay powell and company. >> i know you're short-term oriented >> what if it's a hawkish cut? >> forget that the dow in 75 ye

donated $529,000 to the us women's soccer team to close the gender pay gap, the deodorant brand owned by procter gamble's that each of the 23 players on the roster. well received $23,000. now that took out full page ad in the new york times yesterday and said the women's soccer team just made history. but they've always deserve equal pay some members of the us women's national team set to earn 250,000 for winning the world cup. well below the pay that the men's team would have gotten for a similar run. and analysts the box office tracking services expect the new lion king to open with the domestic debut. north of a 170 million so that will be among the best movies of the year to see now far and away the top forming studio. it said captain marvel in game toy story 4 now lion king coming out and that will be a screening starting on thursday live from the nasdaq, i'm jane king. thank you daryn thank you jane. >>time is 7.21 coming up after the break in east bay park targeted by an arsonist twice in one day and now police are looking for the person responsible. here's a quick live look outside we've

you take a company like procter & gamble, you got close to a 3% dividend, rising 5% to 15% per year versus the ten-year treasury at about 2%. where you going to go -- charles: microsoft, no-brainer they are going to beat tonight? >> well, certainly that's what we think. they are in three sweet spots right now. one, they're in the cloud, one of the fastest growing areas of technology. they are gaining on amazon. secondly, of course, they are in the sweet spot of converting everyone from a perpetual license fee for your software to software as a subscription so you get recurring fees and they have office 365, a virtual monopoly. you can't switch out of that. charles: people on netflix, if you were on netflix last night, you wake up and the stock is getting destroyed. if you are in a stock like that, do you bite the bullet and move on? >> we don't own netflix because we thought the valuation was too high. charles: in general, occasionally you are in a stock and it's down like that. >> we do our homework. we are willing to pay 15, 20, say 20 times earnings, so if a stock we really like has one

put out and see who has to make a donation to it in case anybody makes any missteps >> first topic is procter & gamble all-time high after a big earnings beat. why? skin care products a very strong performer with sales of brands like sk-ii, olay, i do know olay powering an 8% rise in p&g's beauty business. the company announcing it took an $8 billion right down on its gillette razor business. grooming was p&g's worst showing among its business segments citing foreign currency fluctuations and the fact that men just are not shaving enough. >> i hope you're happy, ken. i hope you've got what you were after. thanks a lot >> ken has not been shaving much >> looks great, ken. >> looks very good have we -- >> i think he shaves his head, though >> i wonder if we reached peak beard in america or peak scruff >> i don't think so. i don't think we have reached peak beard or peak scruff. i think it's growing i think some men start with movember and they just keep on going. >> where's john? >> so much easier. >> jackson on your show said he started. >> we have chris has a little -- no >> i would wear a go

liz: you know what, intraday record highs today, record highs, starbucks, mcdonald's, nasdaq, procter & gamble, costco, abbott labs. lockheed martin. jordan kimmel just recommended mastercard. dow 27,000. you should get the s&p 3,000 hat. nasdaq is kind of lagging here at the moment. what do you attribute that? jeremy is not hooked up at the moment. let me get to phil flynn. nasdaq is lacking a just a bit. treasury yields are moving higher now. no fear. >> really are. fear is yesterday's news. we're right in the s&p futures pit right now. kind of looking at the cash prices. futures prices. we're ahead of cash right now. so we're above 30. but s&p futures, 2998.42. let's start buying. get a record here. a lot of excitement in the stock market. they're loving the fed like gerri said. they're loving the economy. we're in a perfect world where we're seeing a lot of momentum. there is problems in the stock market. when we look what is happening with tropical storm barry, soon to be potential hurricane in the gulf of mexico, that is impact a lot of stocks as well. movement is up today, home

down 130 points, 27,080. >>> strong sales growth at procter & gamble. the share price reflects that. it's up nearly 4%. that's a big company. big gain. higher consumer spending helps mastercard's profit, although the stock is actually down five bucks. >>> dish, well, they lost fewer pay tv subscribers than wall street expected. nonetheless, the stock is down nine cents. not such a rosy forecast from xerox, a stock we have almost forgotten about. it is down 4%. >>> now then, apple. it reports after the bell today. this is a major company, obviously, big interest in its earnings. my question is would you buy the stock before you see the earnings? hoping for a pop? >> no. stuart: okay. >> however, not hoping for a pop, so to trade on the earnings report i don't think is a good thing to do because i don't expect a huge move one way or the other, up or down. but if you believe apple is a great company to own as i do for the long term, you can buy it right now, you can buy it after the earnings. it's not going to have too much of an impact. this is something

procter & gamble has been underwriting the team through its secret deodorant brand. it's donating another $529,000. p & g is urging the u.s. soccer federation to, quote, be on the right side of history. >> and a representative from soccer, they were at that big celebration here in new york. they said we're with you, we will fight for equal pay. and so we will see. so that was obviously -- it was a lot of hype during the celebrations. but now it's the next week and the next days are being watched very closely here to see what's going to happen. >>> and the signs are good that a st. louis baby will be lucky all her life. >> she was born on july 11th, that's 7/11, at 7:11 p.m., and she also weighed 7 pounds 11 ounces. >> what? >> mom says she kept seeing the numbers during her pregnancy but didn't think it meant anything. >> now she admits she's a bit freaked out. 7-eleven stores gave away free slurpees on july 11th. she plans to tell the convenience store chain about her 7/11 special. >> wow. i mean -- >> how about that. that's a very lucky, lucky baby. >> funny that m

you have to be careful when you see companies like procter & gamble or general mills. 52 week high, no. you have to wait for some of these to come down. of these are very price sensitive, commodity driven companies. it is all about being sensitive and careful. also trying to look for pockets of opportunity. facebook always seems to pull it out of a hat, maybe you want to be in some of these new ipo's. the nasdaq stocks or tech. i love chewy. the pet food online company. retailer but online really giving a run for their money to amazon. it is a stock pickers market. going forward you will not make it by being in nasdaq. paul: we will have to leave it there. thanks for joining us this morning. perimeter -- kramer capital research. daybreak,ition of bloomberg subscribers go to the terminal, also available on mobile and the bloomberg anywhere app. customize your settings so you are only getting views -- news you care about. this is bloomberg. ♪ check let's get a quick of the business flash headlines. delta is boosting its profit forecast with lower fuel costs allow it to command higher f

they got such good finance people, it they do it, you're going to start valuing this company with a procter & gamble multiple. that means i'm talking 250, 280. but you need one analyst to break, you need one firm to cover -- >> even revenue service revenue growth slowed. >> oh. >> it did. >> katie uber ty has a good analysis of how that's not necessarily -- a little law of numbers there. >> i always see the law of numbers. >> the fortune 300 company on accesso accessories. >> all true. but to the extent that people are -- you want them to focus on valuing it on that recurring revenue stream, and therefore the higher multiple, a la p&g. >> the dollar shave club harry's? >> it slowed a bit >> well, you wear me out >> i'm just pointing it out. i'm not here to take sides. >> i'm accepting the suba note from citi saying it is entirely possible -- >> they missed the quarter stock goes down? the beginning of this year, where the stock got hit, here we are up 28%. >> it goes down 23, 25 points. and then people say, buy it for 5g big cycle coming up next year. >> i like that that's everything you ne

ceo david taylor of procter & gamble jiang me today for a cnbc exclusive. a lot of these slow growth boring defensive companies, carl, not looking slow growth. >> proctor on pace for the best month in six years. >> the winning dow. >> the fed kicks off a two-day policy meeting >> the fed moved in my opinion far too early and far too severely it puts me at somewhat of a disadvantage fortunately i made the economy so strong that nothing is going to stop us but the fed could have made it a lot easier >>> former treasury secretary larry summers with us to respond when "squawk on the street" continues. here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today. >>> welcome back to "squawk on the street." president trump continuing his at

fed this afternoon, a potentially historic decision in less than four hours do we need a cut i act procter & gamble's ceo how the u.s. economy is doing from his vantage point. >> the u.s. consumer in our ten categories remains pretty strong the growth rate in the u.s. of the categories has been 3% and in some cases categories 3.5% to 4% so very robust and we're doing everything we can with the innovation that we% bring to continue to accelerate growth in the categories. >> pretty strong read there. joining us is bmo capital markets chief investment strategist brian bellski and commentator mike santoli so, brian, about whethwhether wr not, do we need it today for this economy >> no, we don't think so from an investment strategy standpoint, our economics team continues to believe we will see at least two cuts before the end of the year. i think what's going to end up happening, and we've said this a few times, is that we really believe that 2019 is this generation's 1995. i don't believe that we are going to see three rate cuts like we saw in 1995, sara, but i do believe the fed misstepped i

walmart, visa, procter & gamble, disney and home depot all hitting all-time highs. boeing, 3m and home depot accounting for the dow gains today. it wasn't all good news. johnson & johnson down 4.8% after the department of justice said to be pursuing a criminal probe into whether the company lied about potential cancer risk of its talcum powder. and a change of heart by the fed could hurt stocks but even a stronger than expected showing of inflation at the wholesale level today didn't really derail the rally. so fingers crossed. you know what they say. stocks don't grow to the sky just like trees. connell: oh, really. gerri: you've heard that, right? connell: climbing a wall of worry. we have all kinds of cliches to throw out. looking forward to seeing you when we close today. i guess 3,000 on the s&p. looks like we will hold it. we'll see. gerri: fingers crossed. connell: thank you, gerri. president trump touring lockheed martin's subsidiary, derco aerospace in wisconsin today. he will be touting his record of jobs and on the economy. jeff flock will be there to doc