World wide exchange. Im sara eisen. Im wilfred frost. Very good morning to you from me as well. Its throw back thursday. Were throwing it back with a girl powered theme today. I hope we have some spice girls coming up. Anything to get the spice girl sboos World Wide Exchange. Lets get straight to the top news. A ton of earnings this morning. If you went to sleep early last night, heres what happened at the Democratic National convention in philadelphia. President obama taking center stage in prime time vouching for Hillary Clinton and making a point to say she would protect democracy from home grown demagogues like donald trump. No matter how much people try to knock her down, she never, ever quits. That is the hillary i know. That is the hillary ive come to admire and thats why i can say with confidence there has never been a man or a woman, not me, not bill, nobody more qualified than Hillary Clinton to serve as president of the United States of america. Vice President Joe Biden also targeting trump in his address. No matter where you were raised, how can there be pleasure in saying youre fired. Hes trying to tell us he case about the middle class. Give me a break. Thats a bunch of malarkey. Former new york city mayor Michael Bloomberg also urging americanss to vote for Hillary Clinton and unite against trump. Im a new yorker and i know a con when i see one. Zamericanss clinton and unite against trump. Im a new yorker and i know a con when i see one. Americanss clinton and unite against trump. Im a new yorker and i know a con when i see one. Tech certainly the outperformer. Apple reacting to earnings having its best day in two years. Looks like things are pointed higher. Heres you wall street setup. Nasdaq lagging. Dow futures here up 36 points ahead of a raft of earnings and some Economic Data. As for the 10year treasury note, little reaction after the fed came out with a statement that pointed to the strength of the economy, but really did liltd to move the needle in terms of expectations. Seemed to confirm its possible for this year, but not imminent in the market. They left their options open for sure. We moved already in the market on the yield curve away from brexit lows and thats why it stayed around 1. 5 yesterday and today as well. Lets have a look around the world. European equities right now mixed as you can see, but essentially flat apart from italy and spain, the big forces, germany, france and uk not doing much. Been doing all right this week. Have been in positive territory, only to the tune of 1 . The bank of japan beginning a twoday policy meeting. Of course today big expectations tomorrow in terms of what they may or may not do in terms of easing. No Real Movement in hong kong and shanghai at the moment. The nikkei and the yen will be the eye of the storm tomorrow as we get announcements from the bank of japan. As for thehe Broader Market picture. The nikkei closing lower. The two move in opposite directions. That pattern has been very much alive. Can we get up the currency board here to show you whats happening. There it is. The euro is stronger. The dollar actually weakened a bit on the back of the fed yesterday. That continues this morning. British pound 1. 3185 also weaker heading into still below 1. 32. Weve been lower than that. So hovering in that range. As for the price of oil, oil has been under pressure. Lets show you where we are this morning. Seeing wti crude up for a change. Up only a quarter of a percent. It is off. Gold quickly lets just show you the gold trade weaker u. S. Dollars give gold a busy of a boost. 1. 1 in the action. Todays corporation story, facebook and revenues driven by strong add sales growth. Ceo Mark Zuckerberg on the Conference Call talking about whats next for the company. Ten years ago, most of what we shared online was text. Now its photos and soon most of it will be video. We see a world that is video first with video as a heart of all or acts and services. Over the past six months, weve been particularly focused on live video. Joining us now on the cnbc news line, it really was a stunning report. So many numbers to digest. Weve got global media. Im looking at the numbers. They really are staggering. 1. 7 billion people use facebook monthly. 1. 1 billion use it every single day. What number stood out to you. I think good morning sara. I think its the combination of the scale of users, 1. 7 billion was an acceleration from prior quarters. Thats a 15 year on year growth. And the other metric that we keep in eye on is the User Engagement the amount of time people sent on facebook, but also the other sites, like instagram et cetera, and the growth there was actually double digits. So first you need to get the users then you need to get the advertisers to monetize and theyre doing a great job on those fronts so far. How much further is it for them to go on the video front. We know the shift has been towards video. One of the reason twitter has been doing poorly and facebook has been doing well. Have they already take tennessee low fruit or is there many more areas of growth in the video front. I dont think so. I think its still relatively early on video. Advertisers have still been experimenting with video and remember the 150 billion is still done on tv. On the internet we think that is maybe in the 10 billion range. So we still have a long way to go. The other thing is i want to format. We think facebook has been the most Innovative Companies in terms of coming up with formats that perform well for advertisers be brand or direct. Even in terms of formats were still relatively early, but do i think facebook has an edge there. Going through some more numbers. Ad revenue up 63 . Mobile ad revenue up 81 thachlt is 84 of the total revenue from facebook. Its also in such stark chronic trast contrast to what we got out of twitter. What are the implications for alphabet which is also in the ad business out later this afternoon. Thats a good comparison right there. Twitter or facebook has become the ep thinks of twitter p. We think alphabet is going to be somewhere in between sew obviously alphabet is a lot more mature company. Theyve been in business for 17 years og so. We think theyre advertising business is going to grow in the high teens, maybe 20 range. Again compare that with twitter, thats guiding to single digit growth in the second half. The 80 growth that youve seen out of facebook mobile. So we think google continues to grow really fast, but certainly facebook in part because its smaller. In part because theyre very innovative. Is growing faster, but facebook and alphabet remain our top pick. Facebook is up more than 30 this year. How much more room is there to climb. You go barrack to the fundamentals and look at the valuation. Whether you look at the free cash flow. This thing is trading below the growth rate. Its trading at a pe to growth less than one. Its trading around 25, 26 times. We think thats very reasonable. So this morning weve taken our price target to 160 from 150. We think theres a 20, 30 upside. So if you were late, make not too late. Thanks for joining us this morning. Those numbers really blowing people away. I think cramer tweeted kaboom was the word. Because there were already such High Expectations and facebook tlidelivered again. Sticking with tech, nearly a decade after its launch, apple announcing it sold the 1 billionth iphone. Saying in a statement that iphone has become one of the most important well changing products in history. No comment from apple on where the phone was sold. Would have been fun. If you did get it and you knew it, you would probably go kabo kaboom. I wonder if they told the customer. Now to todays agenda, there are a few pieces of Economic Data you should be watching. Weekly jobless claims thursdays. Thats followed by the monthly survey from the kansas city fed. Today is the busiest day of earnings season. More than 60 companies in the s p reporting. Look for con coflips, ford, amazon and alphabet will be the head liners. Have beaten estimates, but only 56 have topped revenue expectations. Which brings us to our twitter and facebook question of the day in honor of twitter, facebook, and all the other tech earnings we ask which company has the best growth outlook. We gave you three choices, facebook on the reaction this morning, amazon and alphabet out after the bell. Weigh in well bring you the results after the show. We get far more responses on the twitter page. May we need to do a facebook video. As we have already mentioned. Amazon is one of the big names reporting earnings after the close today. Landon dowdy joins us. Looking i dont understand the numb beyond the numbers here is three things to watch. Amazon prime will be key. Fresh off the prime event was the biggest day ever for the company. Analyst say they expect prime based sales to chibt to growth into q 3. Take a look at the stocks. Up 23 in the past three months. Seconds, aws. Web service expanse is expected to drive Second Quarter earnings. Aws revenue is forecast to be up more than 50 . The third thing to watch is jar gin pressure margin pressure. That profit number is going to be so key. Landon, thank you. Among todays biggest stock movers this morning, grow upon shares surging as it reports a smaller Second Quarter loss and raises full year outlook. Groupon adding more than a million customers. Ceo on squawk box. Thats a first on cnbc interview at 8 40 a. M. Eastern. Kir rasm look at the reaction of 20 . Whole foods profit falling for the fourth straight quarter. Same store sells slip amid competition at the high end. The super market giving a weak forecast for the Current Quarter and sharing declined more than 5 . Iac interactive. The daily beast adjusted earnings in revenue missing forecast. Whole foods so much better. The quality is better and the prices when you rack it all up, steams to me to be less. Theyve been working hard on price. I like it here. The produce is better. Yes. Than trader joes. We could talk about food all morning. Definitely could. Gold corp. Reporting a Second Quarter loss. Production rose by nearly a third. It received were about a third lower. Diageo reporting sells. The maker of Johnny Walker whiskey and smirnoff vodka expected to grow. Its up 1. 6 . Ceo will join sara later this morning in a first on cnbc interview. Thats at 10 00 a. M. Eastern time. Well certainly be watching that one. The brexit related drop in the pound terrorist attacks in europe and the failed coup in turkey forcing customers to cancel holidays. The stock is up 5. 6 . Earnings not as bad. Its always one of the first places we look where we see reaction to these tragedies. When we come back, European Banks in focus. Profit at Credit Suisse and better than expected results. Well hear from executives from both companies next. Tonight dont forget to tune in for complete coverage of the dnc including Hillary Clintons prime speemp. Thats why i have the spark cash card from capital one. With it, i earn unlimited 2 cash back on all of my purchasing. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Which adds fuel to my bottom line. Whats in your wallet . Welcome back to World Wide Exchange. We are expecting a higher open on wall street. Yesterday we saw the dow decline a little bit. The s p and the nasdaq rise. Right now as you can see expecting 31 points of gain for the dow. European trade at the moment is broadly flat. If we just quickly look at the main mover in asia today. We did see the nikkei decline 1 . All eyes will be on japan overnight as we get the results of the bank of japan meeting. Significant easing expected perhaps that might disappoint a little bit. Yes, that decision coming later tonight. Two major European Banks reporting results this evening. Credit suisse. Nancy joins us from paris with some of the highlights and interviews. Reporter good morning. Im pleased to say we can bring you some good news here in paris when it comes to European Bank performance specifically around that i had did struggle to the french retail business. Largely due to the volatility weve seen. I had a chance to speak to the cfo and asked them how they were coping with weakness in the french retail. It is true in france there is the low interest rates. Secondly that is a bit in all of our domestic markets in the first half year. Demand for market products has been limited. Market haves been a bit volatile so our retail kouss have been shying away from it. This is what weighed on the top line. If you look at france, you saw a reduction in the cost of risk. So that is what we will continue to manage. There you have it there. The cfo saying every cloud has a silver line fg you will. When it comes to the low rate environment, that translates to a lower cost of risk for them. That is good news when you look at Overall Results upsetting some weakness of the volatility. When you look at the thick revenues those were actually quite strong. The rewards for the European Banking executives belong to those who can manage risks in the uncertain environment. It was the similar story at Credit Suisse. Ambitious turn around plan and he talked about the nesht uncertainty and how the bank plans to manage Going Forward. Were continuing to push capital towards areas where we believe there is profit growth. We are continuing to increase resilience in a difficult environment. Everything were doing is the right strategy even from this environment. There you visit, talking about the strategy Going Forward there. The ceo of Credit Suisse however investors not overly convinced this morning the stock has dipped in the neighborhood of 2 . Where we stand in paris it is good news coming from bnp. The next risk event will be the stress test due tomorrow. Thank you so much for that. One other big name reporting this morning, lloyds. More than doubling year on year, but the lender announcing it will cut 3 thousand jobs. The brexit will hit the uk economy in the upcoming months. Lloyds very uk centric listed back in london is down 4 this morning. Whats the status of italian banks. Were so worried about them after brexit. It seems to have quieted down. The eye of the storm is bank monte dei paschi. The oldest bank in the world. Yes. Theyre due friday. 4 00 p. M. Eastern time so 9 00 p. M. Local and europe. Got it. Other stocks to watch, Pioneer Natural Resources reported a smaller than expected loss revenue rose 22 . The oil and gas company is boosting the full year production targets. Marriott Second Quarter profit rising nearly h4 percent. Go proSecond Quarter revenue falling 47 , but still that was better than forecast t. Camera maker shipments rising 8 and go pro ses its still on track to launch new camera and drone later this year. Shares got a bit of a release. When we come back, smorts news including the start of the pga championship today. Which youre very excited about. As we head to break, National Forecast from the weather channel. Good morning. Once again more thunderstorms a big chunk of the ohio valley will be your forecast this afternoon. And even some of this could be strong and severe. Maybe to baltimore. Philly chances in scattered storm there is. Also watch lg right here across the high plaines, denver. In terms the of temperature still hot across the southwest. La still above average chlgts no rain in cited. Not good news for the wildfires. Meanwhile plenty of 90s and prance the last hot day across the northeast. Cooler weather is on the way for the weekend. Right now, stay tuned for more of World Wide Exchange. Cathys gotten used to the smell of lingering garbage. In her kitchen yup, shes gone noseblind. She thinks it smells fine, but her guests smell this. Ding, flies, meow febreze air effects heavy duty has up to. Two times the odoreliminating power to. Remove odors youve done noseblind to [inhales] mmm. 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