There is all on very light futures. Oil stocks have been trading in nearly the same direction every day for the past month. Asia overnight. Were not being big moves. A fallout for that massive explosion in china continuing. Shanghai was up 0. 75 . We have some news to tell but. I cant believe this is real. Apple planning a big announcement in september. But the big question is whether we can expect more than an iphone in maces. The new speculation this time is about a car. I know weve talked about it before. But this is totally different now. The Guardian Newspaper reporting the company is building a selfdriving car. Its looking for locations to test it. The report says apple is further along than many suspected. If you read through the story, its real. Assuming the reporting is right, they talk about the location of where the offices are, the garages, all of the things that they tested and built out, the people that called on the record. Theres a guy on the record from one of these tracks that they use to where you would test your vehicle. So but theyre called project titan. Thats the name of the car. In the meantime, take a look at appear aels stock price right now. 116. 37 up marnlally on that news. The ear story this weekend, amazons chief jeff bezos firing back at a story in new york tiles. If you went inside the paper, it watts four pages long and it described a culture that encouraged the employees to put the company before employees. Women with children that felt they were being pushed out, the environment that had coworkers reporting on each other if they were underperforming. They describe amazon as a place where overachievers go to feel bad about themselves. There is a system actually that was reported about a messaging system. Where you would write to your boss not anonymously, i dont think, but maybe to hr to say i was just in in a meeting, and this guy was awful. It was quite incredible. Nonetheless, mr. Bezos responded. He said the article doesnt describe the amazon i know or the caring amazonians i work with every day. I strongly believe anyone working in a company that really is like the one described in the New York Times would be crazy to stay. I know i would leave such a company. But hopefully you dont recognize the can happen company described. Howeverly youre having fun working for the company and helping invent the future and laughing along the way. So many people say i worked at amazon and, boy, was it a tough place. Having said that, by the way, these are white collar workers. They have a choice of where to work. These are high paying, high functioning jobs. And he has created something quite incredible. The question, of course, is the churn thats discussed in this piece quarterback they come in a year or two and thats the model, is that a sustainable model . Clearly jeff bezos is firing back. Theres a lot of notable tech xrchs. Many came out in his defense says, this look, this is a start up culture, its a successful company. Sit has out of context written all over it and that is the idea that it was cherry picking. Although i think they talked to more than 100 current and former employees. Obviously, there were some things in that that were very distressing. You could probably retitle that article some people upset at location. It got a 52 approval rating, over 5500 comments. 82 of the reviewers support jeff bezos. And i read some of the stories. Two years ago, somebody wrote great company, but terrible for some people because it was built to be darwinian. That was a comment from a viewer in 2015. There is a start upculture and there is a reason this company is so successful. But i think buried in that story, some of the more troubling treatment of women, the lack of female xrves, the fact that the well who had a miscarriage and was on a jet a day later, there were some anecdotes. Horrible stuff. My point was that if you think that largely Corporate America is on your side as a worker, youre probably wrong. Yeah. Listen, its a tough world now. The competition for the top, the best jobs is harsh. We all know people that have been pushed out. Maybe im just old and cynical, but it is a competitive and dog eat dog world. I dont know if it was on the New York Times or elsewhere yesterday about why amazon could be a tougher place than some of the places in silicone valley. We compare it to silicone valley, you but theres less competition regionally in seattle than there is in silicone valley. In silicone valley, they give you free lunch and this and that because everybody can literally walk across the street. Lets be clear. Some of these policies that these corporations have about free lunch, free this, free that, its designed to keep you there. Keep you at your desk. Exactly. This is designed to keep you at your desk and working. But they also have maternity leaves and paternity leaves. Adobe just came out with a very good policy. Six months plus to a year. Thats great. And well see how many people take that. I dont know. I think the point i think to your point, actually, that its one more like a brutal retailer than a technology company. Even though most of it thats the other thinl. If youre just focused on the retail element of amazon. Because now theyre the biggest. This story would have been written about any Large Corporation is my point. Why amazon . Maybe this is a company that this is a company thats clearly trying to take over the world, right . Right. And if you dont think going into amazon that that is what youre going to go i mean, yeah, they have relentless. Net flick is trying to take over the world, too. And they just came out with a policy thats a little more generous, if you will. Zai compare the two. Theres always been sort of this world of secrecy inside of amazon. Jeff bezos has been a colorful character who does not talk a lot. There you have it. Weve got another three hours to go on this. Donald trump over the weekend tipping his hand on Foreign Policy and immigration in true trump fashion. The gop candidate landing his chopper with much fanfare at the iowa state far. Refs all business when it came to the middle east and immigration. He sat down with chuck todd on meet the press over the weekend. I want to take away their wealth. For years, ive been saying dont go into iraq. They went into iraq, destabilized the middle east, it was a big mistake. Now were there and you have isis. And i had this was going to happen. I said iran will take over iraq, which is happening. And isis is taking over a lot of the oil and certain areas of iraq. And i said you take away their wealth. You go in and knock the hell out of the oil, take back the oil. We take over the oil which we should have done in the first place. A mid east strategy from donald trump. Plenty of news to discuss over the weekend with steve forbes. Let us highlight some other stocks to watch in todays trading. Kkr led a team of investors that bought the company in 2011 for just over 11 billion. Warren Buffetts Berkshire hathway to invest, it held 8. 5 million shares of charter up from about 6 million at the end of the first quarter. And randus planning to sell computer chips under its own name for the first time in the companys history. Not the mention the time its been in court suing chipmakers for patent infringement. Lets check on the markets this morgue. Seeing positive momentum in the u. S. Futures. It is early. Dow futures look set to open about 13 points higher at this hour. Lets check out oil which has been such a mover last week, reaching a 6 1 2 year low. Brentd crude oil, down although nos as much as whats happening in the u. S. The tenyear treasury yield is lower this morning, 218. Hard to believe. Treasury yields continue to fall. And the euro is weaker against the u. S. Dollar. Dollar strength against the yen, as well. Everyone watching the yuan last night when it came out. And it pretty much said it right where it closed on friday indicating this isnt going to be a one way devaluation down. So the focus will be on china, theres gold, up 3. 11. 15. Having a bit of a rebound. Minutes from the last fed meeting are due to be released on wednesday. Joining us now, Karen Cavanaugh and bill lee is here head of north America Economic at citigroup. Bill, well talk to you about the economy in just a moment. But this could take stock of where we are. The dow is down 2 for the year. Not too dissimilar to what happened last year and midaugust to the end of the year, we saw a 7. 5 rally. Is there reason to think that well see that again . If that was the case, it would be people making a lot of money, right . The markets are by definition unpredictable. The u. S. Has become a safe pavin and people look at us as a place to park their assets. Now the question is, how long will maybe our dollar and our bond, but not so much stocks lately. Where is the growth . U. S. And people if they want to buy growth, they come to the u. S. Have you been telling your clients to buy throughout this period of volatility . Yeah, absolutely. I think there is different from last year in that the earnings arent really ahead. Last year we had a time of earnings growth. This year earnings are at an alltime high. Were not really seeing that growth. We have this headwinds, we have some tailwinds and its a tug of war between that. U. S. The economy is getting stronger, the consumer is getting good. The jobs numbers are good. Housing is gaining steam. Theres a lot of good things. And the latest retail sales number was an affirmation that the consumer is strong. So the u. S. Economy is getting better. And theres definitely a tailwind. The consumer is spending less, given the change in income and wealth. But right now, potential growth is. 5 . So anything thats closer to, theyre doing really well. This is a miserable recovery by old standards. But now what do you mean its a miserable recovery . When was the last time you saw 2. 5 to 3 growth . It used to be 4 , right . Used to be when . Back in the 80s. The average growth in the u. S. Economy is about 2. 5 over a hundred that was still a collaboration to some degree. Thats what im saying. Now we have to ask why is it that were not seeing it . A lot of it is technological deepening. We say that. Its kind of like labor force prapgz rate. Everybody highlights how its dropped. If you go back 50 years, its up. Yes, were off the peak, but were just going back to where some people are choosing not to work, maybe saying home for whatever reason. Im just wondering and im being prickly here in the morning. I said prickly. I got it. If we see 4 gdp growth because we had it, we only had it for a couple of years. That is the point. Its a recovery. It is a recovery. It is. Its just not im not saying that we four as a recovery. It is a recovery and we have gained back what we lost in the great recession. But the consumer is continuing to spend. 2. 5 growth . Well take it. And retail sales, alltime high, automobile sales, like i said, housing experience have gained steam. The jobs market is the best in 15 years. Thats all good news for the u. S. Consumer. I dont mean to cut you off, but we have walmart, home depot, and this is the week. Not to belabor the point, i just dont know why we would consider Consumer Spending to ever surge again when college is 50,000 a year. Homes are 30 more sxaenzive than they were 30 years ago. A new car is 36,000. 150 a month for your cell phone. Why would we ever expect Consumer Spending to boom line it has . Its not as big as it was in the past. Were getting more income, lower prices, but its not as big. Finally, buying Consumer Discretionary . I always like Consumer Discretionary. Consumer discretionary is doing well. Consumer is a game changer. I think thats a bright so the. Lets start the week on a high note. Thank you, bill and karen. Good to see you both. Get to go a tougher story now, the death toll from last week anticipated deadly chemical explosion in china continue to go rise. Eunice joins us now with an update. Good morning, andrew. The death toll stands now at 1134. The initial blast happened last wednesday. We saw the big concern now is the greater impact this blast could have on public health. The authorities over the weekend confirmed that there were 700 tons of sodium cyanide on this site. There are now 3,000 soldiers there on cleanup duty. Some of them are chemicals experts to help neutralize the cyanide. But there are racing with tile. The rains are coming in overnight tonight. The concern now is those rains could wash some of the sigh ya night into groundwater or could trigger chemical reactions that would cause other blafrts. The government has been showing that its taking this situation very seriously. The chinese premier was on the site over the weekend saying theyre going to be a very deep investigation and multiple investigations into who is responsible for the matter. Also, the news conferences have been broadcast on state tv in a sign of transparency. What is willing interesting is in a sign of how sensitive the government is about this situation, the communist party Party Published an editorial which pledged that there would be no cover up with these blasts. The public, though, very concerned and very critical. Many people have been protesting o streets. Some of the homeowners have been asking for compensation. Some of the relatives said they still need answers. Generally the feeling is there has been enough information and the government has mishandled another crisis in this country. Eunice yoon in beijing, we appreciate the story this morning. Talk to you soon. Crude Oil Prices Testing lows not seen since 2009. The exclusive results of cnbcs latest oil survey is straight ahead. And stash wars fans are apparently geeking out this morning. Well check out some star wars land right after the break. First, on this day in history. Heres a little healthy advice. Take care of what makes you, you. Right down to your skin. Aveeno® daily moisturizing lotion with 5 vital nutrients for healthier looking skin in just one day. Aveeno®. Naturally beautiful results® welcome back to squawk box this morning. Disney has not one but serval new star wars movies planned for the year. Bob iger unveiling some renderings of what the star wars land would like. This is the song they played at the tavern and the name of the band, remember the band leader was that stupid elephant named max rebo. Well tell you a little more about tims that youre looking at. It will be disneys single largest harnd expansion. No timeline on completion. But when you talk about big investments, we talk about when bob iger said about buybacks and all sorts of different issues. These guys are spending money, investing money and i imagine making a lot of money on this. They do. The price team astronomical. Is there a chance and i know there are competitor this is business. Im not knocking a competitor. But is there a chance these star wars movies its not going to be good . No. Why is that . The last three were disappointing to many card core fans. Disappointment is relative, right . Im annoyed because my sons name is the same name as the lead role in the new movie and i didnt know that. Hes going the be tagged . No. It will be like the number one name next year, i suspect. And then youll be a trend setter. What is the name . Fin . Yeah. You cant really bet against star wars. All right. The crude oil prices dominating market chatter over the weekend. Jackie joins us with the latest cnbc crude oil results. Youd have to see the last three star wars movies to know if this one is going to be any good and i havent. But lets move on and talk about these oil prices and what we found in our second exclusive oil survey. We polled analyst traders and major investors to get the price on pulsing now that weve seen oil prices in lows not seen in more than six years. What we found is a smift in expectationes. Revisions downward in expectations for pricing. The shortterm, september, october time frame, 62 of respondents told us they expect prices to range between 30 and 40. Indicating the bottom not just yet in for wta. What we found, which was interesting, was that most of those polls were split on how crude would finish the year. So previously, the majority thought that we would see 60 or 70, a bound back by the end on her yooft the. Now theyre more split, more than half thinking were going to finish the year between 30 and 50 for wti. The majority of people believe supply is impacting the factors. The dollar was the next most popular factor. When it comes to u. S. Supply, 41 of those polled believe it will fall by the end of the year. But the other 60 saying production is probably going the flat line or rise from here. If they are right, thats the most important variable that will support these prices moving lower for the second half of the year. Its been eighteen incredible wipeout. And no one saw it coming. Some people no, there are some people that saw it coming. Its 9 of the population. Theyre not all oil related, but its a big part of the u. S. Economic recovery story. Some of the stuff i hear about, you can buy oil in the high 20 range in north dakota right now. Did you know that . Thats ex transportation. That doesnt include sending it where you need it to go. But you can get oil cheaper than and by the way, this is the options free day for oil. Right. So we could see some volatility. There are huge betts both way. We could see a huge move day for oil. Which direction, i have no idea. Investors like andy hall saying this move took him off guard because people were expecting to see these prices supported even though, brian, that the fundamental did point to this downward pricing trend. What was interesting about this survey, most people think theyre going to stay lower longer than what they were thinking. All of a sudden everyone is like, i saw low oil coming, of course i did. All right. Jamie, were you caught off guard by oils second slide . No, not at all. We expected this. I was getting comments from clients that had been quite upset that we had been bearish for a number of months and finally it did break in the way we expected. The reality is there has been way too much overfly and too much excitement about the fact that the u. S. Was start to go slow down. But we dont need it to slow down, we need it to drop production. And do you think we will see a drop in production . Weve seen a drop in rig, but will we have a drop in actual production anytime soon . Right now, we do expect youre going to start to see that. But what we think needs to happen is you need to have wti prices bro 45 for two consecretary ifr quartzers. And the problem with this is the market, the Financial Guys are still quite bullish and im not sure theyre going to allow it to go for two full quarters to give us the kind of cure that we need in order to balance this market. The bull case we legislature, and what i mean