Good morning. Happy friday. Welcome to cnbc. Im sara eisen with don choo. Been in all week. Its been great to be here. Filling in for wilfred frost. Hell be back next week. It is new music friday. Kicking your day off with brand new brittany spears. Sounds the same. She can pump me up though. More brittany news later in the show. Lets check in on Global Markets. U. S. Futures another mini selloff yesterday. Importantly, the nasdaqs first back to bake daily decline in two months. Were flat this morning. Not a lot of risk taking going on ahead of the big janet yellen speech. Nasdaq futures under a tiny bit of pressure here. Health care has been a big story. That has dragged down the embassies. That has had a rough couple of day is. And the worst week for bio tech and health care. As for the tenyear treasury note yield, we hover around 1. 55 level. Will janet yellen cause higher yields is the big question. If she talks up the strength in the federal economy. The need to raise Interest Rates this years. Any clues on that. Of course its not just the tenyear. We show you the tenyear because its a benchmark number. Were going to watch aacross. The two year. Especially because of the shorter rate side of things. If it seems like its been a blur, it is monday through friday today. Every time we checked that tenyear note yield its been 1. 55 or 1. 56. Interesting its not moving as we pointed out on Economic Data. Well get more revision to Second Quarter gdp this morning. Everybody is wondering what Third Quarter gdp did. Second quarter is 1 region. Will we rebound to 3 growth in the Third Quarter. Thats what the atlanta fed has us tracking at now. That would be positive. Look for clues in that gdp report at 8 30 where we go from here. A lot of people pinning the u. S. Picture in hopes for the second half of the year. Well take a look at those pictures later on. Lets check out european equities. Maybe at least following a little bit of sentiment thats going on right now. Were talking about losses across most of the major markets in europe, but not massive losses. The dax in germany off 1 quarter of a percent. The ftse and the uk flat were going to call it. Very marginally. After better data continued. Right. Exactly. They got a look at their Economic Health with their gdp numbers. Ftse mib in through down. 5 . Spain off. Sit read. If youre watching you can see that. If youre listening we are lower, but only fractionally. Lets talk about the overnight session in asia as well. A mixed picture. The nikkei in japan down over a percent this time around. 105 points shaved off. The shanghai comp pretty much flat. Just if yourtaretai tallyin all up. Add it all up and still not a full percent. As for the broader markets. Oil has been a story. Under a bit of selling pressure after a strong week. Wti still sitting above 47 a barrel. Down almost half a percent this morning. Brent is down a 1 . Nat gas at multiweek high yesterday. Giving a little back in mornings. About a percent. As for the u. S. Dollar ahead of janet yellen and jackson hole, weve seen a softer dollar across the board. Starting with the euro in the middle there. 1. 1286 stronger again. The pound stronger after better consumer conferred data continues to point to strength postbrexit vote in somewhat of a surprise for the uk. Dollar weaker against the japanese yen. Thats stronger yen of course focus all week long remain above the technically important 100 level. As for gold which is important to watch, ahead of yellen there has been selling of gold this week. Minors have gotten hit. You think you would be catching a bit this morning. And here we are on the back of the stronger dollar. To the tune of. 30 . 1328 last trade for gold. Moving on, janet yellen could command the bulk and i say that of course it will. The bulk of the markets attention today. Few other items of note on the agenda leading up to the main event. First of all, were going to get the second revision of q2 gdp. Growth is forecast to be slightly lower to 1. 1 . Also look out for july sbreshl trade numbers. As for the earnings side of things, big lots the discount retailer reports before the opening bell. Its the only very large one were watching for because it fits the theme of the consumer data weve been looking at for the most of the week. Another mixed picture. Exactly. It seems like the data at least from the corporation side of things on the earnings front maybe not quite as clear or pointing to at least as positive a story. Its really company specific. Its industry specific and its income bracket specific. Right. Even though tiffany shot up yesterday, it wasnt like the sales rebounded. Word wi worldwide they were pretty weak. The middle to low end of the jewelry market. Fed chair janet yellen steps up to the microphone at the annual Central Bank Forum in jackson hole hosted by the Kansas City Fed 10 00 a. M. Eastern time. Any hunts of a timetable for the Interest Rate hike. Some may be ready to act as soon as next month. Appearing on cnbc closing bell, allines says yellen is in a tough spot right now. Listen. Some central bankers have down played jackson hole. Others like bernanke use it to signal policy changes. Her inclination is to down play jackson hole, but shes being pushed to make a major policy statement. I dont think were going to get that. Shes being pushed very hard by the market base to do so. This directionless trading. Following the speech in jackson hole, the interpretation comes from her number two. Sits down with the stanley fisher. Thats squawk alley today. Corporate news, senators are turning up the heat on mylan. The drug Company Announcing yesterday it will reduce the outofpocket cost of the emergency epipen allergy injection for some of the patients following a wave of criticism. This comes as the price of the drug has increased nearly 500 over the past few years. Lawmakers arent satisfied. Chuck grassley appeared on closing bell and said the savings card is not enough. And shared his solution and theory for why mylan decided to increase prices for the epipen in the first place. Draw down the price and we want to know whether that process can be speeded up to get competition to market. Because i think one of the reasons milan had the guts to move this price up so rapidly is because they do have a monopoly and about 40 of their client el is medicaid. They can cheat the taxpayers as much as they cheating individual families. Mylan this week the shares of that company down 12 . A little over that at this point. Mylan certainly a lightning rod of a company. Both politically and economically and market wise anything else in this weeks trading. I talked about this story on msnbc yesterday. It gives you a sense of how much outrage there is for this price hike. The optics are not good. Her salary skyrockets. The tax inversion to move to the netherlands. The fact she is a Democratic Senators daughter. It goes on and on and on. And people look at this very common, very necessary drug for their children that they have to buy at the back to school season. What resinates with me is this idea that there are so many people out there where an epipen is a necessity. This is the only optioning. I know many of my friends all have kids who needs these. I luckily dont have a food allergy, but i can only imagine what its like to be a parent and deal with these issues as well. You know the Software Update reminders on your iphone youre constantly avoiding holding off could cost you. Apple strongly advising to download a new patch for ios devices following a recent hack attempt. Landon dowdy joins us with more. Apple issuing a security update. Following a recent hack attempt in the middle east. The Rare Software was discovered when cyber thieves used it to target the iphone of a prominent activist. Researchers say he received a Text Messages inviting him to click on a web link. That i have discovered the link would allow hackers to remotely take over his phone, use the camera and microphone to snoop on him and track information from apps. Researchers say they alerted apple a week and a half ago and the Company Quickly developed a fix. The tech giant advising customers to download the latest version of ios for Security Protection and researchers say the spy ware may have been made an bi an israeli company. Nso says it cannot confirm any information in this specific case. As you mentioned. Something we get on our phones all the time. Youre constantly deleting it or putting it off. This may be worth the update. Update your phone. Got it. Thank you. Moving on to stocks to watch. Game stop Second Quarter revenue missed analyst forecast on weak sales of video games themselves. T the retailer siting push of new videos. Getting consumers to buy products on the consoles instead of in stores. See the shares off 8 . Trading auto desk is raiding full year guidance following better than expected results. Maker of design and Engineering Software seeing a surge in s subscripti subscriptions. Those shares up 3. 5 in early trading. Ulta reporting outlook. Those projections are just slightly short of analysts expectations. That stock has been on a nice run. 25 in three months. Down 1 percent 25 in the early hours trade. Nice looking chart. A texas jury has found General Motors ignition switch has been linked to 400 injuries and death was not to blaem for a fatal crash in 2011. Judge determined the driver in the crash was reckless and at fault for that accident. The auto maker paid 2 billion in criminal and Civil Penalties incomes with the faulty ignition switches. Volkswagen. The german auto maker will pay to kor dealer losses. This comes in the wake of the company admitting it cheated on diesel tests. The new settlement will cover 650 u. S. Dealers. Most are due to a drop in sales following the emissions scandal. Certainly a large story to follow there. Still going. And coming up on the show, choppy trading overseas. The world waits for janet yellen to speak at 10 00 a. M. Eastern time. A live report from london and singapore coming next. Stay tuned. Youre watching and listening to cnbc first in business, worldwide. Ooo th choose effesglidefride to s. Chse kelovingunderarmca, bikiniinearing. Fe our aduswirl and flexball, ps thve dip anvot. Chse tsmoouswirl and flexball, angoet iars. Go get it. Cch gilman used his shew cdird fr bank of ame toarn 1 h evywreevery ti at pces thbaing cages. [ croweers ] 2 gcery sre d now hole cbs. D bac gas which helped him giv hiplays soinextra. Asba ththings y yuy most. Ulta. Welcome back to world Wide Exchange. If youre just waking up or on your way to work, lets get you up to speed on the markets. If your watching you can see a mixed picture behind me. It really doesnt tell the story. Were flat across the board. Dow jones futures down just a point. 18446 is the basis. Not Much Movement there. Is trevor ploufs p up wnt 25 . Nasdaq down 1. 5 point. Janet yellen is going to happen in the jackson hole. A lot of that in a holding pattern. Lets that i cake a look at oil ice brent 49. 15. Thats down by a full percentage point here as well in gasoline prices you can see off 1 as well. Lets turn to the Global Markets. Louisa bojesen covering the early action for european trade for us. Lets start with the close in asia. Important Economic Data to get to and shri. Good morning, guys. Top of the morning, sara. Ler lets start with japan and the inflation data continue to stress we admire in the deflationry environment in japan. 2 inflation target looks increasingly elusive. Its like the play, waiting for gado. That does put pressure on the bank of japan. We are watching dollar yen. If we remain in these kind of regions around the century mark, possibly lower, that could cross the mind of the boj. We are spinni inning wheels her until we get charity from janet yellen. Next week will be interesting. We do have a lot of regional data to get through. Including the latest gdp data from india. That where we stand. Im going to hand off to Louisa Bojesen in london. All waiting for the knotting hill carnival to kick off. We are waiting on the fed this afternoon. By and large were seeing very flat trade taking place in europe. The stock 600 reflecting that. Starting a couple of points lower. As the indications were, were just hanging on to a little bit of selling. When it comes to main equity markets, most trading in negative territory. The ftse on the week down half a . The dax off half a percent. The cac off just a hair. The ftse mib seeing a bit of a rally coming into the financial stocks in italy that has had otherwise been so down. When it comes to the sectors out there. Draw your attention to the pharmaceutical health care sector. Off just a half a percent in trade after the repositioning in europe. Were not seeing in huge moves following from the mylan case state side, but a lot of people will be looking closer at that sector to see whether were looking at changes to how drugs are priced in the future. Auto a little higher. Basic resources up 1 . Leading the gainers board, media. Shi of 1 at the moment. Mixed market. Flat. Waiting on the fed of course. And the carnival. Have fun. Hope the weather holds up. Louisa bojesen. Thank you. Up next t war of words. The name calling on the campaign trail getting more personal. Well have the details straight ahead. As if it couldnt get more personal. As we head to break, heres national whether forecast, jen carfagno. Little humidity out there. We have a front coming through. Not going to make a big different in temperature. It will youer out the humidity a bit. Were watching for more showers and possible storms across the middle of the country. Today zone for possible weve been monitoring the trop i think so. There is a tropical wave were keeping an eye on. Regardless of what happens with that, weve got the chance for showers and storms in florida today and through the weekend. Not necessarily tropical related. Just a lot of thunderstorms in the forecast. In the west we continue to be very hot. Seattle hitting the 90s. Record highs fell yesterday and they will again today. Thats your coast to coast forecast. Im jen carfagno for the weather channel. World Wide Exchange continues after this. Cays en used the smelof lingeng garbage. In her kitchen yup,hesone noblind. She thin ismells fine, t r gng, flie mw. Br. T timeshevy duas up. Odordooslindoingo. Rove ors u [inhalesesmmm. Aifect. T timeshevy duas up. Odordoostill itfreshve ors u [inhalesesmmm. And try feall spac. O coinuouslyli upo two tis e odor. Duas up. Odordoostill itfreshve ors u [inhalesesmmm. [inhale hale mmoc]torepyireffes. Fordays and try feall spac. R e seatbeltlickmove only y t says theyre buckle r the ive welcome back to world Wide Exchange. Good morning. Lets get you up to speed on the marketaction. Adding points to the u. S. Futures board. Dow up 21. Nasdaq up 4. This is all ahead of the widely anticipated speech by janet yellen at the Kansas City Fed jackson hole summit at 10 00 a. M. Eastern time. Ahead of that the dollar is under some selling pressure. Really has been for the last few weeks. Weaker against the japanese yen and weaker against the euro as well. Euro below 1. 13. See where we go. P found stronger post confidence in your opinions. 1. 3206. Lets show you oil. Wti crude flirts right at 47 a barrel. Off. 5 . Brent down a full percent this morning. 49. 16. Theres gasoline. Nat gas is at a multiweek high. Now moving on to politics. The attacks on the company trail are ramping up for sure. Both president ial hopefuls exchanges racially charged accusations. Just how intense is it getting, tracey. Reporter pretty intense. Lets start with Hillary Clinton. Well give you Donald Trumps response too. Shes now saying his message and some of the people shes hire reside not only attracting, but em pouring dangerous hate groups. Theyre out. Theyre out. Reporter donald trump on cnn overnight. Its what he said about mexicans, muslims, women and others thats got Hillary Clinton tieing trump to hate groups. These are racist ideas. Race baiting ideas. Antimuslim, antiimmigrant, antiwomen. All key tenants making up thor emerging racist ideology known at the altright. When democratic policies fail, they are left with only this one tired argument. Youre racist, youre racist, youre racist. Reporter clinton dogged by more emails and official meetings with donors to her foundation. Hillary clintons action constitute all of the elements of a major criminal enterprise. You know it, the government knows it and she knows it. Reporter clinton is arguing trumps strategy and his team have changed, but his ideas havent. We know who trump is. A few words on a teleprompter wont change that. Reporter now neither candidate is out campaigning today. Trump has private events in nevada. Back to you. Certainly watch what happens ahead of next week and see if that heats up. Now to sports and the on going ryan lochte saga. Brazilian police have filed the swimmer with filing a falls robbiery report. Lochte will be able to decide whether to introduce a defense in brazil. Police also sending the indictment to the Olympic Committee ethics commission. Not all bad news for him today. Ryan lochte has picked up a new sponsor after four others dropped him. Pine brothers soft tloet drthro drops says lochte should be forgiven. The companies cough drofs are forgiving on your throat. I see what they did. Little press opportunity for them. See if it works. Still to come, top stories. And more insight on the market as we await Janet Yellens speech. Well get you set up on how to trade this one. Ben liadler joins us next. And join in for Michael Gapen later in the show. Youre watching cnbc, first in business. Worldwide. Your Business NeedsBetter Technology to drive better performance. So