Both sides in this conflict are criticizing the United States. Yousuf gamal eldin joins us from cairo with the latest. We have been hearing about the escalating numbers of those who have been injured and killed in the situation. It sounds like it is getting much more tense. Absolutely, becky. A lot of tension this morning here in downtown cairo as the Muslim Brotherhood calls for a million man march, basically, for their supporters to take up arms, to step up against Security Forces. Now, we have seen military activity as well in the morning, even though the curfew is over. Tanks have taken up position right below us. Four of them at least. And theyre blocking basically access road to Tahrir Square. The epicenter of the political changes we have seen in egypt over the last two or three years or so. Very symbolic part of the city, which they are now cordoning off, basically in anticipation of these large protests. We are currently hearing the preparations for friday prayers. Theyre about to start. And after that, we expect these gatherings to take place, not just in downtown cairo, but across the country. Overnight, the violence continued. We are getting reports of further skirmishes between supporters of ousted president mohamed morsi, and Security Forces. Now, as the security level is stepped up, the Egyptian Ministry of interior has been authorized to use deadly force to protect state institutions. And on that note, the state newspaper reporting that the ministry of finance was set on fire, that has been extinguished. In the inferno, the office of the minister himself where i was just two weeks ago, speaking to the minister, that has been destroyed. Well keep a close eye on the situation and perhaps next time i can tell you a bit more about the diplomatic activity and the ramifications for the egyptian u. S. Relationship. Yousuf, it sounds incredibly perilous at this point. If you had to look out and see what is happening, what is the thing that concerns you most, just about how the two sides are shaping up. Well, what is distressing are the precautions that the military is taking ahead of the protests, that theyre cordoning off one of the largest squares in egypt in anticipation of the protests. Also disturbing, becky, the fact that you had attacks on churches, on banks, on government buildings that have been torched and it is not again just here in cairo, across the country, alexandria, attacks on checkpoints in the suez that killed several soldiers. There is a deteriorating state of National Security, which is why the government has instigated the state of emergency and the curfew. Theyre hoping to get this back under control, but the concern is that there will be more violence, the Muslim Brotherhood will resort to more desperate methods to get their message across. If you look at the spokesperson for the Muslim Brotherhood, since we will not cower, we will rise again and the fight is just the beginning, really, of what is to come. So there is no talk of any political reconciliation. About a week ago, we were still trying to find the diplomatic way out of this. Now the talk is only of how can we prevent the violence from escalating, which is why we had the statements from u. S. President barack obama, but the response from the Egyptian Government to what the president was saying has been a terse one. Basically saying it is not based on fact, and it is actually encouraging armed groups. You imagine that kind of response from the Egyptian Presidency to what the u. S. Presidency is saying. That shows you as well that there are a lot of tensions internationally as well about what is happening here on the ground. Incredibly concerning situation. Yousuf, please be careful and we will check back in with you later this morning. Yousuf gamal eldin. Oil prices have been moving on the situation over in egypt. Traders fear the unrest could filter over to crude producing nations or affect the suez canal which carries a large portion of the worlds oil. Analysts say worries the fed could soon trim the commodity friendly stimulus are curbing gains. Gold extending gains today hitting twomonth highs. Among the catalysts, strong buy from china and short recovering after the precious metal broke through key technical levels. Meantime, silver trading near a threemonth high, after that metal spiked 5 yesterday. Silver is on its strongest sixday winning streak since april of 1987. China and japan led an exodus from u. S. Treasuries in june, the selling came after the first signals the fed was preparing a wide back on its stimulus. Data released yesterday showed they accounted for almost all of a record 40. 8 billion of net foreign selling of treasuries. As for currencies, this morning, lets look at how were shaping up there across the globe. Dollar yen, 97. 38. Euro has been remarkably resilient, really. 133 versus the u. S. Dollar. Pound dollar as well. As for euro, the market tests, check out the economic calendar. Here is what we got. At 8 30 eastern time, Housing Starts. Then q2 productivity. Then at 9 55, august consumer sentiment. We have a little Corporate News to bring you this morning. Dells quarterly profit plummeted 72 in the last quarter, but earnings still beating the street by a penny. Pc sales extended their downward spiral at the company, embroiled in the takeover battle between founder and investor carl icahn. Your friends, i dont know if theyre your friends, but youve been covering this, Southeastern Asset Management came out with a statement saying that even though these earnings werent so great, they were still better and showed more positive signs, suggesting there should be a higher price for the transaction. At this point, that ship has sailed. It will be spun so many different ways that people look at the earnings and say, see, i told you the earnings, the underlying earnings are bad. Thats why michael dell needs to take the company private. It is going to be spun over the next 24 hours if not longer in any which way as this court ruling looms. Right. We also have a little bit of after the bell movers to talk about. Chip gearmaker Applied Materials expects customers to hold back spending in the Current Quarter as the company switches to making smaller chips. They had weak guidance and that sent shares lower. You can see that down about 2. 5 . In retail news, nordstrom missed estimates as comp sales at its Department Stores slipped. The Luxury Department store chain is lowering its full year sales and profit forecasts as a result. And joseph a. Banks, do you wear joseph a. Banks . No. Josb. Maybe youre the problem. Theyre eawarning their earning will fall. Shares tumbling on that news. It was a volatile session in china overnight. Morning price surge was likely rooted in a fault in a brokerage trading system. Gains were erased in the afternoon. The shanghai composite finished down by. 6 after briefly soa i soaring in late morning trade. As for the other major averages, you can take a look and see where things closed overnight. Youre going to take a look at shanghai, you see there, down by 13 points. And in india, the rupee hit an all time low to the dollar. Thats a story we have been continuing to follow and, again, more news today. Right now, carolin roth is standing by in london. Good morning. Good morning to you, becky. We saw positive start to the trading day, but then things turned a little choppy and now were down just marginally off by around. 1 . Yes, we are seeing some stabilization in the markets after yesterdays big selloff that we saw here in europe as well. And many are wondering what the reason for that selloff was. Really a plethora of reasons in the market. Could have been egypt, could have been profit taking. But many also point to the fact that the rising bond yields are choking off those rallies in the equity markets. I want to show you where yields for the main bonds are standing right now. The tenyear gilt yield at 2. 67 , off the highs we saw earlier on. The yields off the 2. 81 levels that we saw in yesterdays trading session after the initially positive data. So still, though, at a twoyear high. And bund yields have been quite elevated. We did get some positive earnings reports this morning from Moeller Maersk, a danish shipping company. One of the biggest in the world. And numbers really surprised the markets better than expected. The company also lifting its guidance for the full year and you can see shares are rallying up by 6. 25 . Now, guys, lets be cautious about the set of numbers. It was mainly down to cost cutting. And keep in mind that the Company Still is not seeing any major stabilization in the world shipping markets. So this is not necessarily a read across for rest of the industry. But Moeller Maersk doing a good job at cost cutting. Back over to you. Thank you, carolin, for that. Bankruptcy judge decided to hold off approval of a Restructuring Plan for american airlines. The judge is citing the doj challenge this week to the airlines proposed merger with us airways. Amr worked out the 11 billion merger with us airways as part of the plan to exit bankruptcy and now all of that, of course, is in turmoil. What happens next . Ill tell you what happens next, when we come back, well have more information leaked from Edward Snowden. And the epa considering new gas mileage rules. But first, as we head to break, a check on the National Forecast with the weather channels reynolds wolf. It felt like fall around here. Is that going to continue . It should. Through a good part of the weekend, we could see a warmup by next week. Enjoy it while you possibly can. High pressure is the reason why, dominating feature over the atmosphere in the northeast. Opposite in the southeast. Scattered showers, possible storms there. More rainfall through the weekend in the southeast. Exactly where we dont need t very warm for you in the Desert Southwest and texas. Warm as can be. Delays, probably a few of those today, namely orlando and atlanta due to some chance of thunderstorms and maybe some showers. Chicago, though, your major airports, no issues whatsoever. Got more coming up right around the corner right here on squawk box. [ male announcer ] at optionsxpress, our clients really appreciate our powerful, easytouse platform. No, thank you. We know youre always looking for the best fill price. And walk limit automatically tries to find it for you. Just set your start and end price. And let it do its thing. Wow, more fan mail. My uncle wanted to say thanks for idea hub. He loves how he can click on it and get specific actionable trade ideas with their probabilities throughout the day. [ male announcer ] open an account and get a 150 amazon. Com gift card. Call 18882800149 now. Optionsxpress by charles schwab. Time now for the executive enl, this is a daily segment focused on giving Business Leaders a leg up. The Washington Post reports an audit found the National Security agency has broken privacy rules thousands of times each year since Congress Granted the agency broad new news for 2008. Most of the incidents involve unauthorized surveillance of americans or foreign intelligence targets in the United States. Both are restricted by law and executive order. The post received the documents from former nsa contractor Edward Snowden earlier this summer. This is the i have to say, this is one of the first articles i read which has changed my view again on this whole thing. I dont know if you remember, i went from thinking hero with snowden originally. And then when i thought the preside p. R. I. S. M. Program was overstated, i was less enamored with what we were hearing, because i thought it had become overstated. And now im anxious all over again. If this is all really true, i say hero again. I dont know i go to hero on that position with this. I still think this is a position where in this case he is putting americans at risk. But if you look at some of the issues that are behind this, in one case they confused the 202 area code in washington, the 20 that is the country calling code for egypt. So they ended up picking accidentally a lot of things. The point is it is a human agency and there will be mistakes from time to time. I would be interested to hear if some of these were more than just a typo or someone accidentally typing in the wrong information. And the other thing that one important piece, it is on a percentage basis, a relative basis, this is quite small. Absolute were listening millions of times a year and only thousands of those mistakes. Thats what they say. Look at the number in absolute terms, it looks big. In relative terms, it looks different. Youre going the patriot route. A thousand times a year there is an accident and relatively speaking thats really small. Thats more than i realized they were picking up some of the programs. Patriot hero may be going too far. He raised an important issue. If this is true and there is lots of things going on behind the scenes that we dont know and it is not being overstated, i think it is important that we have the conversation. Raises all kinds of issues, but we dont know everything and thats why it is hard to judge where to come down on this. To our next story, the epa is looking to revise gas mileage rules. The agency wants to change the way that it allows automakers to Group Similar vehicles into families for gas mileage ratings. And they plan to increase vehicle testing. The goal of the changes is to make ratings more accurate. This is potentially playing off what we heard yesterday from ford where they were changing the mileage on one of their vehicles. You cant claim it is 47 miles to the gallon and it is only 43. Thats what is going on. Because they were grouped into a different type of vehicle. I think Consumer Reports found the problem. When they tested fords claims on one of its vehicles, they found there was a big differentiation between what was advertised and what they were coming up with. Ford didnt do anything wrong. It was following governments guidelines but it put consumers in a precarious position when you think youre buying something and you think hell get it back in gas mileage. What is cost for the government for us as taxpayers to have to measure every were going to be measuring 40 extra employees. 40. Thats an increase of, i dont know, 30 or 40 big increase in the number of people they had there before. Are you okay with that . I dont know. Hadnt thought that much about it. 40 extra Government Employees isnt something im going to lose a whole lot of sleep over. I think there is an issue in terms of regulation and cracking down a little bit too hard on things. I might look at dodd frank or other areas before i get too worried about this. I dont know. I feel like half the time my food is labeled with a certain number of calories and fat and protein and im sure it is off a little bit here and there. Yeah, probably right. They put it into a blender, and send it off to the lab. Find out what it really is. And your vitamix. And my vitamix, yes. The bentley of it is the bentley of blenders. Speaking of food, this isnt exactly breakfast food, but pepsi flavored cheetos . Thats how they sound, nasty. The snack is being sold in japan for a limited time. One review says the cheetos actually fizz in your mouth. There are no plans to bring the chips to the United States now, but Industry Analysts say this is an example of Food Companies recognizing an important trend. Consumers enjoy flavor mashing and if you like eating cheetos with your pepsi, maybe it makes perfect sense. Like pop rocks meets cheetos. Remember they made chips. I think we did this story a couple of years back, becky, there were i remember the story like ten years back. Caffeinated chips. You could get caffeinated potato chips. You were talking about different markets, i think in south korea, seafood flavored ones, but i still dont know if thats an urban legend or if that is out there. Ive actually had some seafood flavored chips. Wow. Theyre good. Like shrimp. Shrimp flavored chips. I think the pepsi cheetos shrimp chips are killer. Are you kidding me . Were together on this one. Ill take the cheetos and pepsi. Ill bring in shrimp chips sometime. Yummy. First thing i want to eat in the morning. Were following the futures this morning after yesterdays big selloff on wall street. At this point, it doesnt look like things are budging much at all. If youre hoping for a big bounceback after the dow fell by more than 200 points, youre not going to get it, at least not yet. The dow futures up by less than five points above fair value. When we come back, well preview the trading day ahead. But, first, as we head to break, look at yesterdays winners and losers. Right now, 7 years of music is being streamed. A quarter million tweeters are tweeting. And 900 Million Dollars are changing hands online. Thats why hp built a new kind of server. One thats 80 smaller. Uses 89 less energy. And costs 77 less. Its called hp moonshot. And its giving the internet the room it needs to grow. This is gonna be big. Hp moonshot. Its time to build a better enterprise. Together. Weve been bringing people together. Today, wed like people to come together on something that concerns all of us. Obesity. And as the nations leading beverage company, we can play an important role. That includes continually providing more options. Giving people easy ways to help make informed choices. And offering portion controlled versions of our most popular drinks. It also means working with our industry to voluntarily change whats offered in schools. But beating obesity will take continued action by all of us, based on one simple common sense fact.