330,000. Also manufacturing pmi, the fhfa home price index, the leading Economic Indicators and then the Kansas City Fed survey. The annual fed symposium in jackson hole is just Getting Started and steve lessmiesman w join us from there. Were going to get over to michelle, who has some headlines for us. Corporate news. A number of tech stories this morning. Hewlettpacka hewlettpackards Third Quarter earnings and revenue met estimates. A 9 decline in the Enterprise Group revenue. Thats hps second Largest Division and key part of Ceo Meg Whitmans turn around plan. The companys outlook was also disappointing. Hp announced it is shuffling some of its top management ranks. Shares falling in after hours trading, lower by 8 in the premarket. Well talk to well talk to an analyst in the next hour and ceo whitman will join squawk on the street 9 00 a. M. Eastern time. Apple lost tablet share in china. A drop to 28 versus 49 a year ago. Samsungs market share increased at the same time. The real winners, though, were small domestic rivals in china. In other tech news, yahoo has overtaken google as number one in internet traffic. The ranking released in the monthly report. Andrew . Unbelievable, yahoo overtaking i dont understand how that is possible given im in google every ten sebds sea sh in google every ten sebds seaec searching for something. I would think every search would count. Who knows. We have financial Industry News to bring you this morning. The s. E. C. Reportedly investigating Goldman Sachs over the erroneous options trades. The ft says the regulator saw parallels with the night Capital Trading glitch in august of last year. You remember that. And then the s. E. C. Is looking at whether any of the rules were broken before. Meantime, goldman is assessing the financial damage caused by the trading glitch. An estimate of as much as 100 million. Britains Serious Fraud office is working with u. S. Counterparts into the investigation into the jpmorgan london whale case. Charges were brought against two traders last week. Also some news on wells fargo this morning, it cut 2300 jobs in its home loan business. The bank says fewer customers are refinancing as Interest Rates rise. Cuts would represent about 3. 3 of the banks Consumer Lending employees. Joe, over to you. Lets check on markets this morning. Yesterday, a new rule of thumb, for every ten basis points in the ten years that yields rise, we lose 100 points in the dow basically rule of thumb. Up to 291. From basically 251 to 291, 40 basis points and 400 points. The market has a lot of trouble getting out of its own way. Today were looking at to count on that being a positive close at 4 00, 14 points, with the jobless claims number coming is, you know, it is kind of meaningless. One of those situations if the jobless claims number is really good, then the tenyear yield rises and does the stock market fall in. Who knows. But with hewlettpackard in the dow and now we know, i dont know whats wrong with that company, meg whitman will be on. She goes on with favor, basically. All relating back to the ebay documentary, i think. Hes got a lock on dont even call her. Shell tell you no. Thats not aimed at david, no. He asks tough questions. Yesterday we had a conversation about tough views, how the company is being matched. Interesting news about whether shes the right person for the job at have we asked that about the last four ceos . We ask that a lot. And the board. And also lets look at well get through the boards. Thats why they dont they wont let me read any headlines anymore. Why . Youre good at it. I dont know. Going where the strength is. I think i dont know my relationship with the teleprompter is not great. Lets be honest. They wont pass it to a certain receiver because they think maybe he showboats. I dont know what it is, but if thats the way it is going to be, thats trying different little things. Im going to try to turn my spots. So lets look at the oil board now. Oil is up 51 cents at 104. 36. Well look at the tenyear, we already referenced. Tenyear at 291. That was the problem yesterday. Quick look at the dollar and then gold. Gold is suddenly shining a little bit, regaining a little luster. Euro at 1. 33. Yen at 98. And finally gold is down 1367. We have one problem, if i cant ask you how yahoo can possibly have more traffic than google, i didnt understand how that was possible, because remember the other day, google was down for five minutes and traffic was down 40 . How can yahoo possibly and i read the reports, i started looking online, is this you dont have the answer . I have no idea. I misuse google, i dont know, 50 times a day, 70 times. Do you take back anything you said about mauririssa mayer now that yahoo the pose in the vogue . That and other what was i dont think you think shes the right person. No, no, no. I think shes done an i think shes done an extraordinary job. I think, though anybody could have done it. The value of alibaba was going up irrespective of who you put in that place. Shes done an extraordinary job of bringing a whole new group of people in. I think the jury is completely out as to whether the strategy itself is working, but i think now people are looking at the value going up and going, it is her, i would suggest to you it is this other thing. But it is also possible shes doing a great job and we wont know that part for a couple more years. Maybe all the employees just constantly searching. Going to yahoo and well find out there is search farm in india. Go sit while the investors walk through and trade some broadband. Im not sure whats going on. Also, we had some other earnings news this morning. This is not earnings news. This is loss news. It is loss news. Sears posting a bigger than expected loss. Were going to watch the shares today. You stheee them trading 43. 27. We go across the pond, say hello to carolin roth, standing by in london this morning. Good morning, carolin. Good morning to you. And we are seeing european markets rally on the back of better than expected pmi numbers for the eurozone. Activity the high northwest tes years. France a bit of a disappointment, close to the session highs, up by. 9 . We had better than expected earnings news, impact the dutch market. I want to show you the markets one by one, the ftse 100 up by. 9 . The xetra dax seeing nice outperformance. It is the peripheral economies of the markets which are seeing the best gains. The spanish market up by 2 . Portugal rallying this morning. We spoke about the dutch supermarket chain, ahold. This Company Really the shares up nicely by almost 5 . Now it did beat expectations, it gained market share in its home market. Having said that, sales in the u. S. Are still slowing. Keep in mind it owns the stop and shop stores. Meanwhile, if we look at the forex markets, this really is a picture of dollar strength. Euro dollar, it did spike to a session high on the back of the pmi numbers, but has come down since, down by. 3 . Dollar yen is up by more than 1 , seeing very nice gains approaching that 99 handle. Essentially finally the dollar is now tracking u. S. Yields higher. Back over to you guys. Thank you very much, carolin. Another major story today, what is being called chinas trial of the century. Disgraced politician bo xilai faces charges of corruption, bribery and abuse of power, being billed as a fight against corruption. Eunice yoon joins us from outside the courthouse in jinan. Eunice . Hey, guys. As you said, this is chinas most important trial in decades. It is happening right behind me in the courthouse behind me. Now, most people have been talking about how bo xilai, this once high flyer, a man who a lot of people here believed was going to become a leader of the nation now has been disgraced. Because of that, we saw him run into quite a lot of political trouble, political scandal, that really shook up the communist party and now hes on trial for charges of corruption, abuse of power, as well as bribery. What is interesting is the trial is being billed as a government cleanup, highly choreographed and we expected it to be so. I want to pull up a photo for you to give you a sense of how stage managed this is. You should be seeing a photo now of bo xilai in the courtroom, flanked by two police guards. Bo xilai is actually 61. That means the Chinese Government had to actually come in and find two basketball player sized chinese guards to make bo xilai look really small and weak. So we know this is a carefully crafted trial, but at the same time, what is interesting now is that bo xilai seems as though he didnt get the memo. In the afternoon of this session, bo xilai has started to really show his personality. Hes very charismatic man. Because of that, hes been very divisive here and he started to pull apart the charges that have the prosecutors have been bringing forward. Hes been pulling it apart detail by detail, denying him, defending himself and his wife came in and submitted testimony against him and he said he shot back and said his wife had mental issues. This is a very unusual situation that were seeing in a chinese context, just because he is speaking out so loudly, defending himself, and a lot of people seem to believe this suggests that hes going to fight for himself until the end. Lets underline that, the fact hes trying to defend himself is significant. We take that for granted here in the United States. Not so in china. That photo, at least it looks like it is definitely him, because remember, the trial of had his wife, when she came out, people thought that that might not actually be her. She looked so difference. There were people convinced they didnt put his wife in the courtroom, but somebody who sort of looked like her. Yeah, thats right. A lot of people thought it was a body double. In this case, thats not the conversation that people are having here with bo. They all do believe that bo xilai was in the courthouse and in the courthouse and defending himself. What is also interesting here, you mentioned things you take for granted in the United States what is interesting is the security presence here. There is a very heavy security presence all around the courthouse. Yo wow thi you would think he would potentially have angry mobs coming out to lynch him and thats why you have the security presence here. But in fact, in china, it is the opposite. The security presence is in place because bo xilai is so popular. He has a lot of supporters who have been coming here, basically, you know, showing their support, but at the same time anytime we try to talk to them or other journalists try to talk to them, or even a man on the street, they get whisked away by the police. A different situation here. And this highlights how the government is very sensitive about the fact that he has cultivated this image for himself as a man who is a champion of the little guy. It is another reason why people think the trial is going to move ahead very quickly, that it is probably going to finish up in another day or so, just because the government will want to get rid of this trial, move forward so they can focus on policy issues and really tackle some fundamental issues facing this nation. Thank you, eunice, joining us live from jinan, beijing. Little bit of news back here at home. If youre a tennis fan, you might have might be a little happier. Time warner cable saying it is going to offer a free preview of the tennis channel during the u. S. Open tournament to its customers because, guess what, theyre affected by the blackout from cbs and cbs carriers. But live coverage wont be available. Drama. Little bit of drama, little bit of tennis, but not the full thing. You get all the first rounds. People say that cbs should have had this contract expire not in the summer when there were things that would have gotten everyone much more up in arms about not having it. Nothing that anyone is missing. You think this is bad or good for cbs . Dont you think cbs wins this anyway . Content always wins. But im saying he made that point, it would have been better if the contract had was going to last when home land returned or nfl football would be on or something that beth would hapeo up in arms about. Officials in three states pushing back against the federal governments attempt to block the proposed merger of American Airlines and us airways. A florida, texas and North Carolina say the combined company would benefit their local economies. The three states are home to large hubs for america and us airways. How do you feel . It reminds me of the sirius xm messing around. Even with at t, tmobile, i thought that was stupid. This one, do you think they should get together . I always thought this would happen, i feel sort of like, you know, the barn door already has swung open. A little late now. I wonder whether leaving them out there means they just fall apart and die or they actually, if they were together, this he create you know the key stuff they give out, the combined airline would control a huge percentage of flights out of Ronald Reagan airport. The bure cat bureaucrats were. They didnt use that antiquated whatever it is, that rule, that they use with at t and tmobile. 4 to 3, 3 to 2. No, the name. The highsenburg principle of uncertainty. Youre watching too much breaking bad. No, no, no. I only know dont do that to me. I only saw him call himself highsenburg once. Is that his name with twocall . The fact youre still talking about it means you have not seen enough. Right. You were first season. First season, episode five. One successful businessmans proposal to reduce regulation, and increase jobs. First, though, lets check in with the Weather Channel and jen c ca carfagno. The moisture, the humidity, the muggy is back today. Storms may fire bag across portions of new york, pennsylvania, overnight tonight, continuing. Could see severe weather. Damaging winds, hail the main threat. Not a widespread threat, but it is there. Were watching for lightning and thunder too across portions of the northeast, back to the midwest. In the south, more rain continuing this week, especially in georgia, florida, across the panhandle area and down into mississippi and alabama too. But we have some changes coming to the southeast. Got to get through the next couple of days and High Pressure building in beyond that. And dry weather. The sunshine returning to a good chunk of the south. Monday looks phenomenal. Just a heads up planning ahead, monday is your day, right across to the southeast. Storms will continue in florida. The forecast for temperatures, summerlike weather returns to the upper midwest. Temperatures warming back up mid to upper 90s through the weekend. Minneapolis, for you, chicago, upper 80s and close to 90 yet again. Our wildfire story continues in the west. It is hot, dry, more than 50 fires burning across the west and a number of them continuing to be below the 50 containment. In particular, watching the beaver creek fire. This one in idaho. Well have more favorable weather conditions. Temperatures in the mid80s. Today, tomorrow, a chance for showers and thunderstorms. Shifting winds with these storms. And dry lightning could always be a concern for sparking Additional Fire burned at fire areas. We have got right now a dry forecast for you. Things will change a bit through the next couple of days. Well see more moisture coming back into the area. This is good news for the fire fight here in the u. S. Thats a look at your weather forecast. Ill be right back right after this. 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. Time now for the executive edge. Daily segment focused on giving Business Leaders a leg up. Wall street journal reports the s. E. C. Is set to propose a rule dealing with ceo pay disclosure. This is required by dodd frank. It would force companies to publicize the pay discrepancy between their ceos and their median worker salary. What do you think . Started i was going to say, well, it is just disclosure to let you know. Then i read what the critics what theyre saying the problem is. And here in a nut shell, they havent described what employee sample you would use to get the median pay. You have to create a sample. There are multinational global workforces that are paid in a lot of different ways, all different you to include Stock Options and pension benefits. Theyre saying for big multinationals, it would be very difficult to find that median and all youre finally doing is saying you would say, the ceo is making 20, 30, 50 times what the median employee is. Well, it is interesting, the most interesting thing i saw is whole foods ten years ago put a cap on its top officers, can only be 19 times the average they didnt include Stock Options or pension benefit. This would include that. But how many times do you see a ceo makes what looks like a reasonable in your view a reasonable salary and then has, you know, makes 60 million in Stock Options. You know the back of the milk carton, i dont care about what the ceo makes versus the lowest guy or the median pay. I want it to say, this is what he made, this is what the stock did in the last year, this is what the revenues did, and then show me the comps and i want a nice little box so i can see what happened and i think that is a much better way to judge whether the pay is fair, than versus when it is lower. This is why certain people in media dont like you, you sound very reasonable. Thank you. I think it is meant to feed into class warfare. It is absolutely meant to divide and you know what it came from . It came in menendez. Ive seen menendez on tv, someone talked about marginal tax rates, he didnt know what a marriage nall marginal, how that differed some of what they know and dont know about normal things would blow your mind. This stemmed from when a lot of the Financial Firms got a lot of government money or became part of the