To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://view.response.cnbc.com/?qs=1a289739a83ff14a0c1917fa22a270ddb3caa262e77993b639a97b89f660d046bec97ab55c16cdd0a569c3ae90a1e96df823041246034a4520b65e83aef074f2CNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=1a289739a83ff14a0c1917fa22a270ddb3caa262e77993b639a97b89f660d046bec97ab55c16cdd0a569c3ae90a1e96df823041246034a4520b65e83aef074f2 here. https://click.response.cnbc.com/?qs=3beece2c1bba9443e0329f6294167594f73a14110177d3eb656d2cb47916b30b7e4cad908f4bcb10 https://click.response.cnbc.com/?qs=3beece2c1bba9443cd976e41c14fbcbf6bb7bbae51546bb668b0f11bc0de2ae725e0e4823a6a7c43 IN THE NEWS TODAY US stock futures are https://click.response.cnbc.com/?qs=3beece2c1bba94433308de6f74c9f07989642b740e887d00d26cf936cfaab9d55e981b919d7635b0 pointing to more of the same after averages barely budged during the Monday session. The slowdown in corporate earnings reports and the lack of fresh economic data is likely a key factor in that indecision, as is the absence of any Fed commentary this week. (CNBC) The https://click.response.cnbc.com/?qs=3beece2c1bba9443abf6f72a803e56c3dfd398e4f0da90dca548e9bf5acf945d5a366954ec44a812 oil price rally is taking a pause after U.S. crude futures rose 3 percent to settle above $43 a barrel in the previous session, bolstered by confirmation that OPEC members will gather informally at a meeting in Algeria next month. (Reuters) Despite failing to agree to an oil output freeze in June, crude market watchers say https://click.response.cnbc.com/?qs=3beece2c1bba9443a12a3c51da61edfd423f7e1a2fb795ee85b7aa6e9790943708498886967e5c66 OPEC members want to send a message that the cartel is still relevant. The group could explore an alternative to a freeze that would also put a floor under crude prices, they say. (CNBC) Reserve Bank of India Governor Raghuram Rajan https://click.response.cnbc.com/?qs=3beece2c1bba94437a1b8fb4099c12a9756203430be46366ff61170296118aef8fec46123d587e8a presided over his final policy meeting on Tuesday, during which he left rates unchanged. Here's https://click.response.cnbc.com/?qs=3beece2c1bba94434825a0eec95cf2377968c11bdd4b7bef0676b958d8d4fdfbf64808bcc330ce1c how India's rockstar rate-setter performed during his three years at the helm. (CNBC) https://click.response.cnbc.com/?qs=3beece2c1bba94430582db8bd216890e03011187cd80e7fd6df368ffa24c6ff669da6197932082f8 https://click.response.cnbc.com/?qs=3beece2c1bba944318258f8c26d42b369da8c57bb4633874208f274a411e4b6f71d469137df85ab5 https://click.response.cnbc.com/?qs=3beece2c1bba9443741d3a25bcc1b3c9ccfd280fc0c23b62af9701e6de5a7d43985e7b54a8982c3a Donald Trump https://click.response.cnbc.com/?qs=3beece2c1bba9443ec5301c26afc5ed1010ebeb400273d2b7a2dc48d10bd7121bc54070ca641e912 raised his proposed top tax rate to 33 percent and promised to make all child-care expenses deductible in a speech on Monday that aimed to offer more clarity on his economic policies and move the GOP presidential nominee beyond a bruising week during which he drew broad criticism. (CNBC) Republican Senator Susan Collins of Maine on Monday https://click.response.cnbc.com/?qs=3beece2c1bba94430298d509626ff01916004c85f64b8e22e45b888ef65d5cadd8244055e5f80414 said she would not vote for Trump . Collins is the most senior senator yet to reject her party's standard-bearer. (NYT)Fifty Republican former national security officials have https://click.response.cnbc.com/?qs=3beece2c1bba94436ad98aef4d6962cbf73743b152b69189c5b0580492def7828f69eb214f5ce969 signed a letter that says Donald Trump would be "the most reckless President in American history" and "lacks the character, values, and experience to be President." (NBC News) The parents of two Americans killed in the 2012 Benghazi attacks https://click.response.cnbc.com/?qs=f71d673595297398988ced238676584c2d1c36af37bf186e9710aff78034a1ca8c20c7ef8b2c1a96 filed a wrongful death suit against Hillary Clinton , alleging Clinton's use of a private email server contributed to the assault. They also claim Clinton defamed them in public statements. (NBC News) Turkish President Recep Tayyip Erdogan meets with Russian President Vladimir Putin in St. Petersburg on Tuesday as the two https://click.response.cnbc.com/?qs=f71d67359529739890522a9f71028283b2fc7c76a3ab57a67e7a4be106656da000dec4d399e0f3f7 seek to reset their relationship following a freeze over Turkey's downing of a Russian fighter jet near the Syrian border last year. (Reuters) Wal-Mart (WMT) CEO Doug McMillon on Monday https://click.response.cnbc.com/?qs=f71d67359529739813484ad2d71e92d9b26f700a247b4d48ede4f266ec709b436cc2f4df4bead53a laid out the case for his company's $3.3 billion purchase of e-commerce firm Jet.com, saying it affords the retail giant an opportunity to quickly build out its marketplace and reach urban millennial shoppers. (CNBC) McMillon and Jet.com founder and CEO Marc Lore will join "Squawk Box" at 7 a.m. ET. One https://click.response.cnbc.com/?qs=f71d6735952973987fa52e501865f17eae238ea4f1b17375a54ee3b0f0673518b2adbeffa9a8f6fd beneficiary of the deal is Eric Martin, a family man and entrepreneur who won 100,000 shares of Jet.com last year after finishing first in a contest to refer customers to the service. (CNBC) Delta Air Lines (DAL) is https://click.response.cnbc.com/?qs=f71d67359529739806e1e4352788d752ba9e8a53a043201e91635a53634c9fee563e41ec2caeb1ec issuing refunds for canceled flights as well as $200 travel vouchers for certain passengers following Monday's system-wide outage caused by a computer problem. (AP) Honeywell (HON) is https://click.response.cnbc.com/?qs=f71d6735952973983902cedee748f7ce5e867e8ef56f4e11eacdb303bcc95dbccb1108d462b2e98f in talks to buy privately held JDA Software for about $3 billion, according to a Reuters report. JDA is a maker of supply chain management software which was taken private by New Mountain Capital in 2012. (Reuters) Monster Worldwide (MWW) is https://click.response.cnbc.com/?qs=f71d673595297398bd08dd1bff5add66938a0fade1cfae0a7ae3e91297f1bdb760309e5c26286cb7 being bought by Dutch recruiting firm Randstad for $429 million or $3.4 per share. That represents a 23-percent premium over Monday's closing price for shareholders of the jobs and recruiting website operator.(Reuters) BY THE NUMBERS The National Federation of Independent Business will issue its July index of small business sentiment, seen coming in at 94.6.That would be barely changed from June's 94.5 reading. At 8:30 a.m. ET, the government will report on second-quarter productivity, expected to register a 0.4 percent annual rate increase following the first quarter's 0.6 percent slide. Economists think June wholesale inventories will be higher by 0.1 percent when the report comes out at 10 a.m. ET. That would match the May increase. Luxury goods maker Coach (COH) is among the handful of companies out with quarterly earnings this morning, along with Charter Communications (CHTR) and Norwegian Cruise Line (NCLH).Dow component Walt Disney (DIS) is today's after-the-bell earnings headliner, with Fossil (FOSL), Mylan (MYL), The Container Store (TCS), WageWorks (WAGE), and Yelp (YELP) also scheduled to report. STOCKS TO WATCH BP (BP) is looking for buyers for its 50-percent stake in SECCO, a China-based petrochemicals joint venture, according to a Reuters report. The stake could fetch as much as $3 billion. LendingClub (LC) reported an adjusted second-quarter loss of 9 cents per share, wider than the 2 cents expected by analysts, though revenue was slightly ahead of forecasts. The operator of an online lending marketplace also announced the resignation of Chief Financial Officer Carrie Dolan.News Corp (NWSA) reported an adjusted quarterly profit of 10 cents per share, 3 cents shy of estimates, though its revenue did exceed analyst forecasts. The unexpected rise in revenue compared to a year earlier was helped by results for its newspapers, which include the Wall Street Journal and New York Post, as well as better results in its digital real estate operation.Twilio (TWLO) lost an adjusted 8 cents per share for its latest quarter, 6 cents less than analysts had anticipated, and the company's revenue was well above estimates. The maker of messaging and voice services also gave an upbeat forecast for the current quarter as demand for its services rises.Gap (GPS) posted a smaller-than-expected drop in quarterly sales, but its July comparable sales are below Street estimates. Results were particularly weak at Banana Republic, although Old Navy is showing signs of recovering. Following those results, Mizuho upgraded the stock to "neutral" from "underperform," noting easier comparisons ahead as well as cost controls and favorable currency fluctuations. WATERCOOLER U.S. Olympic rookie Lilly King https://click.response.cnbc.com/?qs=f71d673595297398f5642efd368179a69d538ab99f6e6ef3c57a8cb9ab666ec412251ecd305f47d3 clinched the gold medal in the 100m breaststroke, setting a record for the event in the process. Her teammate Katie Meili, also appearing at her first Olympics, took the bronze. (NBC News)Australia is https://click.response.cnbc.com/?qs=f71d67359529739856db1776bb1fd8c1c2398603f15c8cf70126ffec826f57ecab7e49bdf2ac058a refusing to apologize to China after Aussie swimmer Mack Horton called his Chinese rival Sun Yang a "drug cheat," referring to Sun's three-month suspension in 2014. Horton took gold over Sun in the 400m freestyle. Sun https://click.response.cnbc.com/?qs=f71d673595297398bbd697a00a5e6258ba835023c477ea7b953a76eb60748ce92053923695780fbc finished first in the 200m on Monday. (CNN/NBC News) CONTRIBUTORS https://click.response.cnbc.com/?qs=f71d6735952973989776b81a8528e273e13c637a4261f9f83fbee9ea6234a8d191ec9215c5977e52 https://click.response.cnbc.com/?qs=f71d6735952973989776b81a8528e273e13c637a4261f9f83fbee9ea6234a8d191ec9215c5977e52 Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=f71d673595297398f96b6044b3c512c3346d71a3b5e65837dcab941930cb3ce25eaccc524368a514 @Matt_Belvedere https://click.response.cnbc.com/?qs=f71d67359529739800da5c2c68a2f30b3f175c5b52e710505e6a8019adce58cc647018112a8e8b56 https://click.response.cnbc.com/?qs=f71d67359529739800da5c2c68a2f30b3f175c5b52e710505e6a8019adce58cc647018112a8e8b56 Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=f71d6735952973980a127691afc5fd14dda4dc7c772d387e7fd35315e1c31c57d116bb25b479c3f8 @peterschack https://click.response.cnbc.com/?qs=f71d6735952973985bd9b7307f28c2e89ddcb20a208cc2c3ddd4d20fced08660a5aefb34df4ff312 https://click.response.cnbc.com/?qs=f71d6735952973985bd9b7307f28c2e89ddcb20a208cc2c3ddd4d20fced08660a5aefb34df4ff312 Tom DiChristopherWeb and TV producer Feedback We value your input—use https://click.response.cnbc.com/?qs=f71d673595297398e999eeeb06b910e85a5cfb87316992afa426efb7c7b8fec7a3b89ca982656193 our simple form to let us know what you think. 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