Squawk Box

Massachusetts' Attorney General wants to find out if Morgan Stanley allegedly provided institutional investors revenue prospects for Facebook ahead of its IPO. CNBC's Kayla Tausche reports the details.

"I've always said that we need people to begin to feel again that they've got their fair shot in life," says Rep. Eric Cantor, (R-VA) and House majority leader, providing his perspective on Wall Street insiders and polarizing politics in America.

"In theory, Greece should not exit the euro zone because that would usher in a very dark period in Greece and no one would lend to the country," says Roger Altman, Evercore Partners chairman discussing problems facing the EU leaders at today's summit and weighing in on a divided government in the U.S. and the likely scenario after November's election, with Rep. Eric Cantor, (R-VA) and House majority leader.

Jeff Ettinger, Hormel Foods chairman, president & CEO, discusses his company's record Q2 numbers, reporting EPS of $0.48 vs. $0.42 on revenues of $2 billion, and growing his business to meet changing consumer demand.

Mark Stahlman, TMT Strategies, provides a preview of Hewlett-Packard's Q2 earnings and weighs in on reports the tech giant may be laying off as many as 30,000 employees.

"This country was built on the notion of economic freedom, profit is the incentive to try and go out and make a better life," says Rep. Eric Cantor, (R-VA) and House majority leader, providing his perspective on business, the growing U.S. deficit, and polarizing politics in America.

CNBC's Kayla Tausche reports government regulators are looking into whether Morgan Stanley followed the same procedures for Facebook's IPO as it has for all other initial public offerings.

Barry Schneider, LOYAL3 chairman & CEO; William McComb, Fifth & Pacific, CEO; and Chris Kelly, former Facebook chief privacy officer, discuss the launch of a new platform designed to democratize the markets through Facebook.

CNBC's Eamon Javers reports the latest poll numbers between President Obama and GOP presidential candidate, Mitt Romney.

Yra Harris, Praxis Trading, discusses which market moving activities traders will be watching ahead of the opening bell and shares his perspective on repealing the Glass-Steagall Act.

Greece and Spain's growing debt problems could become the next big blow to the European markets, as rating agency Egan-Jones downgrades Spain's debt rating into junk territory. Gemma Godfrey, Brooks Macdonald Asset Management, weighs in.

CNBC's Michelle Caruso-Cabrera reports the euro fell sharply and stocks dropped from their highs of the day on news Greece is making contingency plans for a euro exit.