This hour europe is down a little bit. Were giving back just a little bit today after another great session but descent session yesterday. You can see if youre not listening on the radio, were down about 40 points on the dow jones. The nasdaq is going to benefit from the great numbers from google. It benefitted earlier this week by netflix and has i wouldnt say diverged from the other averages but certainly been much stronger than a relative basis. S p is down less than a point. In europe, there were green arrows after what has been a pretty good week and since last week when the feeling that this would be resolved favorably in terms of greece started and seeped into the markets. France. The only index at this point up but upright at a fifth of a point. Asia this morning is better with japan higher. The hang seng higher. And what were watching closely is shanghai up sharply. Up 3. 5 in a snap back. Crude continues to be on the weak side. Now down under 51. Next stop potentially under 50. Well see after the iran deal was at least okayed and now you dont need that Many Democrats really to keep that. That could be a few defections and its impossible for republicans to stop. Well see, every day i get another thing on twitter that says retweet this if you want to let Chuck Schumer know this is a bad deal. Hes sensitive to it. He does hold a lot of sway. He hasnt hes still looking at it he says. Its not going to end the sanctions on u. S. Companies doing business there because there are still sanctions in place from 1995 that prohibit u. S. Businesses from going in there. So all the companies that think this is game on not so for u. S. Companies. European companies thats a different story. Lets check out the dollar this morning which was weaker. Not the dollar the euro was weaker today which some people think is a negative for our markets. Were right in the middle of earnings season. Well see how ge was affected by the stronger dollar this morning and well get some more multinationals and industrials next week and then finally gold down another 1. 70 and 11 47. Interesting to see if that finally gets under the 1100 mark this time around. Theres new data out that suggests that american investors are staying close to home. Data shows that u. S. Based nondomestic funds posted 3. 7 billion in out flows in the last week. In the meantime u. S. Based domestic focus stock funds attracted 2. 9 billion. On todays agenda a couple of notable companies. I just referenced General Electric. We will be looking at and see how that company is fairing in its divestment of what used to be thought of as key assets but not anymore. Well see whether thats helping. Stock did run up on that news but it came all the way back down to around 27 and honeywell also before the bell and weve seen very cos pif comments about it. It was early in the morning. You have to earn the right to be a conglomerant. Ge is offering concessions to buy alstoms power unit. Its not making the details public but submitted a proposal. On the economic front today the Consumer Price index is due at 8 30 eastern. Economists are looking for the headline number to rise. 3 and june housing stocks and later this morning well get Consumer Spending. Lets talk about earnings. This is part of the stocks to watch this morning. Google topping estimates for the first time in six quarters. Getting a boost from strong advertising revenue. Also a thumbs up about discipline spending. That was pretty key and well talk to an analyst about this in a few minutes. Also matel topping estimates. The driver for this was stronger demand for its fisher price toys and also lower costs but barbie sales were still weak. They dropped 11 . Mattel announcing it renewed his partnership with disney for the toy story films. We will talk to a toy analyst coming up in the next half hour. Schlumberger earnings topping consensus. Theyre cutting costs and helped offset the impact of reduced drilling activity. The north american rig count may now be touching the bottom. And shares of hertz today. The stock got a bump in after hours trading. They increased the annual cost savings target and expects 2015 growth between. 5 and 1. 5 . Conoco phillips plans to cut spending citing low crude oil prices. They already cut Capital Spending twice. Its raising its Quarterly Dividend by a penny to 74 cents a share. In news out of washington the sec is ready to reject 3. 3 billion of auction discounts requested by dish network entities. In the 45 billion box earlier this year. Officials decided that the companies didnt qualify for Small Business discounts but i figured how these guys worked hes not stupid. But if you read through that story yeah. They say other companies have done this in the past but what you had was these companies driving up the bids, if that was based on the fact they were going to get a discount that means everybody else paid a higher price because they wouldnt have had to bid to these levels. They were aligned. Collaborating. The three of them were playing together and as a result those three companies, the two small ones in dish they took 27 of the wireless bids. You got to try. If it was at t or something i would be furious. Pretend your a Small Company but youre aligned together. Im on tom wheelers side on this one. The enemy of my enemy. I think it was the right call. Lets get back to google looking to be a big winner today. Victory anthony is a director and Senior Research analyst. Thank you for being here today. Thank you. So this was a big number. First time in six quarters that they beat expectations and the biggest take away is the tough talk. Thats one of it. This quarter was a catalyst to get the stock going because it was stuck in a range for the past 18 month. Before or after the numbers . After the numbers Revenue Growth accelerated. And Expense Growth thats probably the key to getting the knock to work because now you have a chase that could be made that google could continue to beat earnings estimates over the next year or two. How much of this of your upgraded stock how much of the expenses being held back and how much is just the advertising was stronger than expected too . Yeah. Revenue growth accelerated. That was driven by mobile as well as youtube. So on the search side you saw cpcs, its how much is paid every single time you click a link. The cost of mobile accelerated, the growth accelerated in the quarter. Not just a mobile but that was a key for the stock. Revenue growth is accelerating and expenses are coming down. Do you have a price target in mind . Yeah i took it up to 850. From the stock at 672 even after the gains we saw last night. You end 2016. So look at a return of 18 from where the stock was raiding in the after hours. If you have any concerns what would they be. That continues to linger as a risk on stock. You still have competition from gook. Thats the biggest competitor within the space but the space is big enough to accommodate big nails. When you talk to big advertisers themselves when theyre looking at digital theyre probably spending more and more on digital. The two big players are facebook and google and then it drops off a cliff. You dont see massive amounts of money being allocated to other players in the industry. Do you think thats going to kang . Facebook and google will continue to dominate Online Advertising space. But listen i think theres a lot taken out by verizon. Yahoo has a small piece they can improve at the time. I think google and facebook are in a prime position to dominate that shift thats taking place right now. Whats your rating on facebook . Do have a buy but if i were to pick one of the two i think facebook would be the better buy because the significant catalyst for facebook hasnt really made its way into consensus numbers. Like what . Video advertising thats starting to amp up. Instagram ads starting to ramp up. Whats app they havent started to monetize yet. Theyll do that in 2016 as well as messenger. Thank you for coming in today. Four marines are dead in tennessee after a lone gunman opened opened fire at two u. S. Military facilities in chattanooga yesterday after what is being linked to possible terrorism. The latest on the victims and what we know about the gunman dave. This is an active crime scene. This is the place where the four marines were ki its a sad morning in chattanooga. Four families are grieving and the community as a whole is grieving as well. 30 minutes of terror at two military centers. The question this morning that investigators are trying to answer here was it an act of terrorism . Chattanooga police will tell you if you look at some of the pictures from the crime scenes they responded very very quick quickly. They maintained they saved a hot of lives. Four marines were killed and a number of other people were injured. They believe they saved lives. If you look at some of the photo from the crime scene there the number of bullets that hit the building particularly at the recruiting center there which is about seven miles from this location here you see all of those bullets in the windows there so a very dangerous scene there and it was amazing that more people were not injured. I can tell you that chattanooga is a growing community here in tennessee. The people are proud that a lot of larger businesses are moving into this community. They see a lot of business moving in. They dont see this type of crime. We did hear from the president last night. He spoke about this and talked about how the country, the community is grieving. It is a heartbreaking circumstance for these individuals that served our country with great voir dire lor to be killed in this fashion and although the families are still in the process of being contacted i want them to know that i speak for the American People in expressing our deepest condolences and knowing they have our full support as they try to overcome the grief. And that was president obama speaking yesterday. The 24yearold gunman lived with his parents north of this area here close to chattanooga. His dad is a City Employee. The gunman was not on any terrorist watch list but theres a High School Yearbook entry which is haunting at this point. It says my name causes National Security alerts. What does yours . And thats the latest were learning right now. Theyre very tight lipped as investigators continue to search these two active crime scenes. Back to you. Dave thank you. Thats dave from nbc. When we come back well have more of the days top stories including more of the key vote on the greek bailout today plus how choosing the right car color could save you money. Plus take a look at this date back in history. The mercedesbenz summer event is here. Now get the unmistakable thrill. And the incredible rush of the mercedesbenz youve always wanted. But you better get here fast. Yay, daddys here here you go, honey. Thank you. Because a good thing like this wont last forever. See your authorized dealer for an incredible offer on the exhilarating c300 sport sedan. But hurry, offers end soon. Share your summer moments in your mercedesbenz with us. When you do business everywhere, the challenges of keeping everyone working together can quickly become the only thing you think about. Thats where at t can help. At t has the tools and the network you need to make working as one easier than ever. Virtually anywhere. Leaving you free to focus on what matters most. Welcome back. To want on an all new american greed hes a former irs agent turned accountant accused of running a 13 million fraud. The tax return he files is vastly different from the copy he applies his clients. He simply cuts off the first digit of the clients income theres massively lowering the amount of taxes owed and thats the return he files with the irs. But dont think hes doing his clients any favors. His clients never see the smaller return. They believe they owe taxes on their actual income. He would convince them that they should pay their taxes directly to a Client Trust Account as he referred to it and he told them that he would pay their taxes for them on their own behalf the checks directly to this account but in truth the Client Trust Account wasnt a real trust account. It was his own personal piggy bank. Good scam if you can figure out Something Like that but when the fed comes after him he plots to murder those that know too much. Its an exciting all new american greed tonight at 10 00 a. M. Eastern time and pacific. Wow. Yeah. Not all american greed guys are this bad. Taking matters into his own hands. A story in the usa today suggests that picking the right car color can save you money. It turns out black, white, and silver vehicles stand a better chance of returning a little more at resale. You understand this. Other considerations lighter colored cars are less likely to show dirt and scratches. They get hotter. Cars get hotter in the summer. One Study Suggests that white cars are less likely to be in accidents. The car colors dont appear to effect any insurance rates. Unless its a cherry red, right . Ive learned lessons over the years about car color. I once got a. It does during the gas crisis and i had a beautiful white firebird. I told my father it was like 1978 or something and i said gas prices are never going back down. Oil prices are never going back down. Im going to trade in my va and get a 4 cylinder mustang and it had a plaid interior. It had a stick shift and it was so embarrassing. It was orange and by the time i sold that i was driving around in this orange piece of crap really. Did your father ever say i told you so . He never did but he was right about that and the other thing we once bought one of those cadillac the purple cadillac that you bought right . Yes. It was a cross over thing and we were once we were somewhere and we parked it where we werent supposed to park and it said will the owner of the purple cadillac please come. And i looked at my wife and we thought purple cadillac who would have and we went thats us. So dont buy purple and was it eggplant . It was a purple car. Im on the silver train too. Silver and black. Sometimes you think i want to get something a little bit different but then you get sick of it. Right and they end up driving these cars for a long time so it takes a while n. Chairs today taking a look at stories that caught our attention. You know moefrores law. The opposite of murphys law. Yes this is that things will get better and better over time. This is gordon moore. He issued this rule that said the chip makers would squeeze twice as many transistors on to the same area every year or so. Moores law seems to be slowing down a little bit and inobstetricalintel is the latest to tell us. Every two years they could squeeze twice as much on to it and now wednesday they said for the second time in two years they think its going to take 2. 5 years to get to that point. I remember about a year ago we did something in chairs similar to this thats new stuff. You know theres physical restraints and other materials you can use. I remember them saying they were extended to 2008 and could keep going on track. I dont know whether there this is the thing that finally catches up . I dont know. Everything else keeps moving forward. There could be a time where chips you figure are at this point d. Ben white joining us in a few minutes. Using single molecules is as important as moving along to do these things. Its hard. This is hard work. Its hard work and you have to decide. You have to be a decider. You do it well. I do. Coming up, this mornings top stories plus Quarterly Results from dow component general he lek electric. But first a look at yesterdays s p 500 winners and losers. I built my business with passion. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Hello. I am technology that is changing investing forever. I am a fully automated Investment Advisory service. I can help you choose the right portfolio. Monitor it. And even rebalance it. Ive been called innovative. Revolutionary. And just plain smart. Id blush at the compliment if i could. But i cant. So. I wont. Say hello at intelligent. Schwab. Com good morning and welcome back to squawk box here on cnbc. Andrew is off today. Todays top story, germany is voting on that bailout for greece. German chancellor Angela Merkel speaking earlier this morning. She said trust has been lost in greece. But argued germany wants to keep greece in the euro zone despite its political differences. Merkel argues that there cant be a hair cut in the euro zone. The German Parliament is debating the reform for aid package for greece now and is expected to vote within the next hour or so. In other headlines this morning the imf head is reiterating her relief that the country needs some sort of debt relief. The ecb has increased liquidity assistance to greek banks and theyre expected to reopen on monday. Meantime in athens Prime Minister tsipras is expected to reshuffle his cabinet. There was a rebellion over the vote to improve measures. Even the imf is saying does it matter whether you call it a restructuring or reformulation or hair cut . Its the all the same thing if you extend and pretend. As expected the New York Times has slowly but surely been talking about germany and thrusting austerity on people. Its a great piece today. German tone grows sharper. Now people i think they actually do say Something Like theyre just now being perceived. Mean spirited people. Selfish. Germans are selfish. They have a lot of nerve. General electric is hitting wires. 31 cents a share looks like the number to compare to a 28 cent estimate. But also the revenue was better than expected. 32. 75. Im look agent the press we lease where i see other numbers. There must be other numbers before and after some assets are spun off. Maybe this is industrial revenues that i see its tough to say. Ge had a good quarter with strong growth. The environment remains one of slow growth and volatility particular hi