welcome to "street signs." i'm joumanna bercetche >> i'm willem marx these are your headlines from london wpp shares plunge to the bottom of the stoxx 600 as the firm cuts its profit margin guidance mark read prepares to update on the new strait tegy by year end danske bank shares drop after an investigation through

the branch in estonia. and colombia's central bank governor tells cnbc he is watching developments in the fx market closely >> so far there have been good and bad countries the area. and italian banks open higher as yields come off three-month highs. the economy minister reportedly called on ruling mps to keep next year's budget deficit below 2% of gdp. all right. good morning welcome to "street signs." we're about an hour into the trading session. to be honest we had a slightly firmer session for asian equities overnight led by china.

a bit of a rebound there nikkei was down a smidge there has not been given a lot of attention, but noteworthy for the central bank watchers out there. the bank of japan slightly cut its monthly purchases in the three-year and five-year maturities little tweaks going on there people focused on fixed income have pointed that out. stoxx 600 is slightly up let's get into some of the individual indices and see what the picture is like. ftse 100 is up yet again in line with the weakness we've seen in the currency today all focus will be on carney's testimony in front of the treasury select committee. him and other mpc members, lots of talk about his future at the bank of england, and whether or not his tenure will be extended.

other indices, xetra dax, cac 40 trading around the flat slightly weaker as far as the french are concerned ftse mib is up 1% in line with the bond yield moves that is on back of the finance minister's comments saying he is hoping to get a budget that will stick with that 2% deficit target for next year let's see how that pans out. switching to sectors, leadership is coming from the banking sector, up 0.6%. lots of stories there. danske bank, ing, we'll get into them utilities up 0.4%. ryanair posting good passenger numbers for august to the down side basic resources, telecoms down 0.6%. iliad announced it had lost some subscribers. and media is the most underperforming sector, about

0.7% >> one reason for that is wpp shares plummeted to the bottom of the stoxx 600 after the company cut its profit margin guidance however the world's largested a ver si advertiser revised the full-year outlook. the company's newly announced ceo mark read said the firm was successful at winning new business, and that he would set out a new strategy before the end of this year up to $30 billion of nonresident funds flowed through the estonia branch of danske bank during 2013 "the financial times" reported this came from a preliminary report from gdansk as it looks into money laundering. danske bank admitted there were flaws in its anti-money laundering controls at the branch but said they could not confirm how many of the roughly

80,000 transactioning during 2013 were suspicious sticking to a theme, ing agreed to pay 775 million euros to settle a case with authorities over money laundering the dutch bank said it acknowledges and regrets serious shortcomings in the execution of its customer due diligence process designed to prevent financial and economic crimes. prosecutors contend it violated laws ing says it has taken measure to prevent legal breaches and said that bank executives have given up 2018 bonuses as a consequence. societe generale says they expect to pay 1.3 billion in penalties to u.s. authorities. several american regulatory agencies have been investigating the french bank over dollar

transactions that involve countries subject to u.s. economic sanctions socgen has set aside provisional funds that will almost entirely cover the cost of the penalties. tsb banking group's ceo pau paul pesto will step down. another glitch had hit bank customers yesterday, it was the latest in a series since a botched i.t. upgrade last april. another story we're watching closely, argentina unveiled emergency austerity measures in a battle to balance its budget after its currency has fallen almost 50% this year the argentine president announced steep spending cuts and new taxes on exports the move is a u-turn from macri,

a free market president. >> to cover what's lacking during this transition that's become an emergency, we're going to ask those with more of a capacity to contribute i'm referring to those who export in argentina, their share be greater we know it's bad, a bad tax which goes against what we want to promote which are more exports to generate more quality work in every corner of argentina because i have to ask you to understand this is an emergency and we need your support. >> argentina's finance minister is expected in washington, d.c. today for meetings with imf officials. argentina will formally request faster disbursements of the $50 billion loan program agreed to back in june the measures will allow argentina to achieve a balanced budget next year as he works to

reassure the public over this economic turmoil. >> translator: i want to speak to argentines, those worried with ansgst, remain calm argentina will move forward and we will come out strong from this situation because we're coming out with a solid fiscal plan we will take steps to directly advance towards development in a way that will beat poverty >> turkey's central bank vowed to take action against significant risks to price stability. this has fueled expectations of an interest rate hike. the latest data shows inflation jumped 18% year-on-year in august, exceeding expectations and marked a near 15-year high the central bank's next meeting is on september 13th people will watch that one cl e close closely. let's look at some of the main

currency pairs right at the top. we've been talking about the dollar versus the argentinean tas pas peso, a depreciation of almost 50%. sharp underperformer there the measures have been announced by president macri overnight and will be discussed with the imf later today. anyone trading that should watch out for that we have the dollar/turkish lira as well. and we have a currency expert with us. virage patel before we dig deeper on the u.s. dollar, do you think some of these steps announced by argentina and turkey, we should see a bit of stabilization >> the policy steps and domestic policy actions are a step in the right direction. we'll start to see a stabilization in the local

markets, but certainly also in the broader spillover ef spacsp. there wills less portfolio contagion in the em space. >> do you think investors appetite for seek and carry plays is going to be dented after the incidents in the last couple of weeks? people will not be rushing back into these high-yielding, high carry currencies after what has happened in turkey and argentina, are they? >> it's still a cautious and nervous risk environment the next couple of weeks, when it comes to u.s. trade and foreign policy there's a couple hurdles we have to get through not just china but also russian sanctions as well. it's too early to jump back into em broadly, there's a bit of dollar differentiation here. >> just to pick up on that, what would be the distinction you would draw between dollar pairings between g 10 currencies

and some of these ems? >> we have two dollars to focus on here. dollar against em, too early to jump in, but maybe gldollar against major, we think the cyclical majors have turned against the dollar we do think there's room for the dollar to turn lower where we like to express that is against the yen and the swiss franc. so dollar/yen moving lower strategically. >> how you are intending to trade the dollar what kind of inflection points you are looking for? >> we're looking for a peak in the cyclical dynamics. we have a good string of data over the next couple of days that could mark the top for the u.s. economic cycle. we think the second quarter was the high water mark. and things could only get worse. what you start to see is convergence in that story. fog back to that dynamic we saw

in earlate 2017/early 2018 >> i would like to pick up on dollar/yen why do you say your target is 1.05 what is the catalyst from the bank of japan side from what we heard, they don't seem to be in a rush to tweak the policy or yield curve control in the time being, at least until the consumption tax has dwindled down. >> we think the midterm elections could get messy, political uncertainty, that's been best to express that true tlar yen dollar/yen there are yen positives.

the domestic economy is doing okay things are moving in the right direction. that's supportive of yen >> all right stay with us we'll have more to chat about after this break coming up, the right-wing swedish democrats are set to make sweeping gains in the general elections. we'll look at the next big test for europe when we come back - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life.

man: are unpredictable crohn's symptoms following you everywhere? it's time to take back control with stelara®. for adults with moderately to severely active crohn's disease, stelara® works differently. studies showed relief and remission with dosing every 8 weeks. woman: stelara® may lower the ability of your immune system to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tuberculosis. before or during treatment, always tell your doctor if you think you have an infection or have flu-like symptoms or sores, have had cancer, or develop any new skin growths, or if anyone in your house needs or recently had a vaccine. alert your doctor of new or worsening problems, including headaches, seizures, confusion and vision problems. these may be signs of a rare, potentially fatal brain condition. some serious allergic reactions can occur. do not take stelara® if you are allergic to any of its ingredients. man: are you fed up with crohn's symptoms following you? talk to your doctor today, and learn how janssen can help you explore cost support options. remission can start with stelara®.

cost support options. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today.

welcome back to "street signs. the banks in italy are trading higher after yields came off three-month highs there. the italian economy minister called on ruling mps to keep next year's budget budget deficit below 2% of gdp. mateo salvini promised to keep the deficit just below that set by the eu. there's something else we

need to watch out for. swedish voters will head to the polls this weekend in an election that could see the far-right swedish democrats become the second largest parliamentary group. according to the latest poll, the right-wing party is set to win 20% of votes, the rules social democrats at 25%. the center right moderate party is in third place. sweden has taken in the most migrants per capita of any european country they are also suffering from a hou housing crisis let's talk about some of the data on the grounds here the economy appears strong the country's gdp has grown by about 1% in the last quarter

sweden's employment rate remains the highest in the european union, but inflation remains at 2.1% in july, that is the highest level since september 2017 for more on the swedish election, head to our website, cnbc.com we're joined still by virage patel. i have to ask about the swedish krona in light of this election. is this something you're positive about >> we're quite brearish on the swedish krona. you have also not the election but the riksbank meeting on thursday we don't think they'll signal a stronger tightening path so that's coupled with what looks to be asymmetric downside risks. the most likely outcome is that it will be messy, probably be protracted period of political

uncertainty, again both just negative in the short run. >> isn't that already in the price? we've seen -- we've talked about the carry trades it's been used as a funding trade because of the issues you cited. don't you think much of that is already in the price >> a lot of it has been the global story a bit has been the domestic story. there's more domestic pain to come we have it going up to 11 by year-end that's how bearish we are. >> that puts the riksbank in a difficult situation and that depends on what happens on the september 9th elections. another curren there's a lot to like about the nor rewegian krona you have elevated trade from

higher oil prices. a strong economy the only problem is again the risk environment and the investment environment has been negative the liquidity conditions are thin, they get hit the most. it's best to pick equally overvalued currencies like the aussie or the kiwi, that's where you will see more tactical upside >> recently in norway they announced macro measures to deal with the housing market does that remove the likelihood that the norges bank will have to go hard on tightening >> it just basically means the end point for tightening is lower than maybe before the crisis >> thank you for joining us on "street signs" today another complex to watch, wti is trading higher after two

gulf of mexico oil rigs were evacuated in anticipation of storm gordon it's due to make landfall later tonight. india has allowed state refiners to import iranian oil using iranian tankers, that's in a bid to circumvent u.s. sanctions after india's biggest shipping company halted its own trips to iran. we will ask our guest about the iranian tankers. they will be busy over the next few months, won't they >> they will be. it's not just india, china has done the same. so iran's national company is effectively providing the insurance for india and china. last time under the obama era, when there were sanctions, iran ended up storing a lot of oil in their own tankers, about 30 million barrels, now today india and china import a lot more

crude compared to back then. if iran is effectively tying up its own tankers supplying crude to india and china they won't have many available to float so they might have to cut back production earlier than we expected >> you are talking about a customer change and what that means for production what do you expect to see from iranian production in the next three, four months before we hit the november deadline. >> we've seen a significant decline in exports because the dollar sanctions kicked in we expect exports to decline by 1.5 to 1.7 million barrels a day. so exports should go from about 2.7, 2.8 that we've seen earlier this year to about 1.2 million barrels per day. production should go down to 2.2, 2.4 million barrels per

day. i want to draw on that opec pledge to produce an extra 1 million barrels per day. the extra production that been to the tune of 400,000 barrels per day, a big short fall versus themi the 1 million target is that 1 million target obtainable >> that's the big question whether they've drawn down storage or run refineries less, that's a debate now. in terms of production, we've seen about 800,000, 900,000 more if you include russia. remember, you do need to take out venezuela from this equation because they're continually declining. between uae, saudi, you could wait, russia, we've seen about 800,000. iraq increased a lot i think 1 million is just about there. i think the critical thing is

venezuela continues to drop. iran is finally falling. we ha had a big timing issue. so the market is tightening up quickly. >> you expect that to continue for the next 18 months or so, but you do note there's not a lot of real spare capacity because of political uncertainty. iraqi protesters protesting over lack of clean running water, lack of electricity. at what point do political event there's start to threaten production >> this is the thing iraq, libya, nigeria, they are all stable right now they're ro duproducing as much s they can all three are very unstable. it is only a matter of time. only one of these protests needs to go bad and production will come off this is the issue we have.

opec already increased production and near-term spare capacity is limited, maybe 300,000 barrels per day. russia and iraq are maxed out. if you have any other outage, iraq, libya, tripoli where the situation is bad not near the oil centers but still worth watching any other outage we don't have spare capacity to absorb it. yes, saudis might bring on the neutral zone, that's a few months away. >> from everything you told us, i get the sense you're bullish oil. yesterday hadley spoke to the oman oil minister, he said he expects oil prices to stay within a range of $70 to $80 is that something you agree with >> i think that's what opec would like, especially ahead of the midterms they don't want prices too high. it's become quite political. oman is definitely one of the countries that's benefiting from lost iranian production. i can see why he's saying prices

will be high, but not go up too much but our view is a bit different. given the physical tightness that we're seeing in the market, come november, at least in the next couple of months, we see significant upside in prices and there's not enough spare capacity i would say into the 90s >> thank you very much for joining us coming up, samsung looks to the future we'll unfold some of the news for you after this break why did i want a crest 3d white smile?

dinner date...meeting his parents dinner date. so i used crest. crest 3d white removes... ...95% of surface stains in just 3 days...

...for a whiter smile... that will win them over. crest. healthy, beautiful smiles for life. welcome back to "street signs. i'm willem marx. >> i'm joumanna bercetche. these are your headlines shares in wpp plunge to the bottom of the stoxx 600 after the ad firm cuts its profit margin guidance. the ceo says he will update the strategy by the end of the year. danske bank shares drop after a money laundering investigation reportedly finds the bank handled up to $30 billion worth of nonresidents money a year through its estonia

branch. the emerging markets selloff intensifies with currencies across southeast asia and latin america bearing the brunt of the pain colombia's central bank governor tells cnbc he's watching developments closely >> so far in these financial markets, it's been good and bad for latin america. peru, chile, colombia very stable others are volatile. and italian banks open higher as yields come off three-month highs. the economy minister calls on ruling mps to keep next year's budget deficit below 2% of gdp all right. we have more data coming out of the uk yesterday we had weak manufacturing data, about a two-year low we also got weak construction

data uk august construction pmi came in at 52.9 versus july's number of 55.8. it's a miss versus expectations, also significantly weaker than back in july this time i guess you can't really blame the weather as we know, the weather in europe has been very hot >> i think worth pointing out that july reading was the fastest expansion in construction over the year that was a peak. it seems we're much closer to the june number, 53.1. >> a miss versus expectations. let's get into the currency reactions. already we had sterling trading on the back foot going into the number now you can see we've dropped a bit further, down around 0.4% in trading. dollar strength there. dollar strength versus euro. euro is weaker to the tune of 0.6% sharp moves today given the

positive news surrounding italy and then again that's another demonstration that whatever is happening with italy and the italian back drop is not havinging having i an impact on that currency pair. yen is weaker to the tune of about 0.4% switching to european markets. the picture is mixed we have xetra dax and cac 40 struggling relative to the other two, down 0.2% 0.4% italy, ftse mib leading the way, up triple digit gains now. up half a percentage point on reassuring comments from the finance minister and ftse 100 dithering around the 7,500 mark don't forget that carney will be testifying later in front of the treasury select committee. let's look at u.s. futures as

well u.s. was out yesterday for labor day. this is the first day back since the end of the august trading session friday very strong month for the u.s. indices led by the tech sector this time the dow opening up about 40 points higher s&p about 5 points higher. nothing major. at least it's positive >> back on this side of the atlantic, it's been a volatile session for iliad shares after the company reported a drop in fixed and mobile subscribers during the first half of the year the fall prompted the company to cut its midterm profitability targets. the ceo addressed merger speculation. he said his firm will not be the one to spark market consolidation in france. samsung will unveil a foldable smartphone later this year, that's according to the ceo of its mobile division our tech reporter, arjun kharpal, has more details on that story >> i was speaking last week to

the ceo and i was asking about plans for this foldable device technology there were rumors in the market that this could be released. he said there is a device of this nature is coming. he said the development process has been complicated but nearly complete it could be unveiled at the samsung's developers conference in november. perhaps not a full unveil of every speck and detail, and i don't expect it to be a huge mass market product particularly because the price of this technology is likely to be high. so it won't appeal to the broader market and the mass market as such but the important thing for samsung is to show it can still innovate and lead that innovation if you look at what samsung has

traditionally done, it's brought out a device ahead of the market for a couple of years. the note-style devices, they were one of the first companies with the larger screen now that's becoming the norm this technology is new, they'll see if it sticks with the market >> stay with us. we're joined now by richard windsor live from abu dhabi. you probably heard about some of the new technologies that samsung is looking to unveil one is the foldable smartphone, also more affordable types of smartphones. with this type of creativity, do you think that they're bound to succeed? will there be an appetite for these products >> i think certainly for the foldable screen there is going to be appetite for it. the caveat here is in the initial run a foldable screen

will be incredibly expensive, probably more than the top end of the iphone. foldable screens have been around since 2012. the problem is they could never manufacture them in the kind of scale to actually launch a product. maybe now they've solved some of those problems, but the real thing to watch for is can they push that technology down to the mass market? that's where the volume and profit lie >> how much will this change the fortunes of what's happening in this smartphone market last quarter samsung felt the pressure of the slowing market will this stoke growth >> i don't think so. samsung's position in the smartphone market has been reasonably stable for some considerable amount of time. you have a lot of insurgents coming in from the bottom, particularly china, a big share in india and xiaomi. so samsung needs to innovate in

hardware and get massive volume, but that's where samsung makes its product. >> samsung has been a volume player, i want to address another side of the business they've been pushing hard on they have a number of service products, bixby as well they're trying to push heavily what does samsung need to do to have a successful services business they run on android, it's difficult for them to control the ecosystem. where do they go next with that? >> my position on this for some time has been that samsung should stop doing services if you look at bixby, the users impression of bixby you could make the case that bixby is a reason not to buy a samsung phone in that regard they should stop trying and invest the money elsewhere. my position has been simple, demon their partnership with google maybe get some of google's great

innovation out on to devices in volume with an exclusive to give them a six-month edge. if you look at google, google is struggling in hardware so a deeper partnership in the two could benefit them >> you wouldn't agree that sum sung, given the scale bring back its own operating system in the form of tyson? >> no. because i think what you would see is sung -- they're a manufacturer of commodity products look across semiconductors if you say we're switching to tyson, all of the users can go hang on a minute, there's a decent -- plenty of other opportunities where the user experience is almost the same. if you're going to force me to use tyson, perhaps i'll go elsewhere. >> picking up on everything you just told us, i get the sense

you're skeptical about the whole samsung story especially perhaps given that as a valuation play it trades at a premium versus competitors. do you think samsung justifies that >> i have not really had a problem with samsung's valuation for a while. it's certainly not the cheap stock it was when i was pushing it three years ago the thing about it is is that what samsung does is dominates three segments those three segments it shows very good profitability in quite frankly it's competitors have failed to really make any impact on it i would look at samsung's profitabilities at this point in time of not being desperately under threat, and looking at cash flow and at its outlook, maybe slow, steady growth, samsung's valuation is not that challenging. >> one thing that has got investors in samsung excited is the trends in semiconductors over the past couple of years.

that's high demand and low supply that pushed those prices higher, allowed that semiconductor to be a profitability business for samsung. is that under threat at the moment even as they push ahead with new technologies in the semiconductor space? >> i don't think so. i think the top line is probably a bit under threat for a couple of reasons you're seeing increased verticalization among other companies, which means they're increasingly trying to make silicon themselves so that could crimp the demand for some of samsung's products samsung semiconductor has the internal customer, samsung handsets, but what you'll see is growth is steadier in the long run. until someone comes up and challenges samsung on volume, profitabilitieses should remain intact >> thank you very much that was richard windsor founder of radio free mobile live. thank you, arjun kharpal, our

tech reporter who has been bringing us these samsung scoops all this week. for more on samsung's plans for that foldable phone, head online to cnbc.com. facebook has promised to become more effective at protecting users from foreign interference ahead of the midterm elections. a number of top tech executives will appear in washington, d.c. this week to answer questions about the efforts that platforms are making to counter operation operations >> inside facebook headquarters a furious effort to fight the social network's toughest battle yet. the mission, protect facebook and instagram users from foreign interference in the lead up to this fall's midterm elections. the goal, prevent another 2016 when 126 million americans were exposed to incendiary posts from russia

>> we're focussed on getting it right. >> reporter: in an exclusive interview, facebook's executive leading the charge said the company feels a profound sense of responsibility. >> is facebook safer now in 2018 compared to the lead up to 2016? >> i think we're in a much better place than we were in 2016, but it is an arm's race. >> reporter: facebook feeling the urgency after mark zuckerberg faced criticism that the company didn't act fast enough to stop interference in 2016 >> we didn't take a broad enough view of our responsibility, that was a big mistake. it was my mistake. i'm sorry. >> reporter: the pressure is mounting after facebook's head of security said it was much too late to protect the 2018 elections. but in the last six months facebook said it's detected, blocked and removed about 1.3 million fake accounts, and

20,000 employees now work on safety and security >> is it working >> i think we're much more effective than we used to be. >> reporter: but facebook is still fending off threats from russia and iran as recently as last month. >> the bad actors have gotten more sophisticated they're better at hiding their location >> reporter: the concerns have become so intense that facebook is building a war room to monitor the midterms in real time >> we know we have to be ready for anything that happens. >> reporter: actions facebook hopes will be enough to help guarantee free and fair elections. jo ling kent nbc news. irish hotel group delatta has seen half year adjusted quarter earnings rise. they were helped bay near 7% jump in the key revenue per room number pat mccann joins us now. a couple of questions.

do you expect this good news to continue and where is the demand coming from? are we talking tourism or corporate demand >> good morning. good morning to your viewers thank you very much for this opportunity. we're delighted with the performance that we've seen across the first half, across all regions. while probably dublin was a surprise out-performer in many ways, the rest of the regions that we report all performed well within targets. you're right in your question, can this continue? well, you know, not alone did we deliver strong operating results, but equally we are building for the future. so in the first half of 2018 we opened two new hotels, both in ireland and three extensions on our properties bringing on another 610 rooms. in the second half we will open

four new hotels, one extension, bringing in another 800 rooms. between everything we will open about 1500 new rooms across the group in this current year that's encouraging that will start to feed through into the earnings profile then for 2019 and beyond. so we're, i suppose, very pleased with what's actually happened on that then as we get into next year, 2019, we will actually be in the construction phase of at least seven new hotels, bringing in another 2,000 rooms into the group. so there's lots of activity around the business. the other thing that you asked me about is where is the business coming from it's across a range of business, but primarily because most of the hotels are in urban and city centers, we benefit greatly from

corporate during midweek and short leisure break markets on the weekends that's the driver of our business >> pat, i want to ask about those new hotel rooms, a lot of them, more than 1500, will be in the uk why is it a good time to be investing in the uk? is it your only choice of secondary market giving the political uncertainty around brexit >> we've always liked the uk i suppose my history in the uk goes back a number of years where i was heavily involved in building t building brands throughout the uk when we look at the profile of the uk and the lack of investment in the hotel sector, it gives us encouragement. there is business there. when i look at our performance over the last two, three years in the uk, it is one of continued outperformance and we expect that to continue so the fact is that we are able

to do very good deals because what we will do in the uk is what we call an asset light model in that we will use other peoples money, they will own the hotels and we will do long-term leases we are well structured in terms of the covenant yield that's on our balance sheet, which means we get entry into the market at pretty low rents at this point in the cycle there's an opportunity to do that because at some point that cycle will come to an end. for the moment it's attractive for s. >> sir, just picking up on that low rent comment i see you're investing in london paying 91 million pounds for your first hotel interestingly with the 300-year leasehold, this comes at a time when revenue per available room in the capital has been dropping so is this just an opportunity for you to lock in very low rent

rates for a long tenure, 300-year leases? >> yes so essentially this is a different type of lease. essentially that's a ground lease in london as opposed to an operating lease in some other announcements that we've made. essentially the leaseholder is what we would call freehold equivalent almost as if we own the entire asset and we pay a peppercorn. there's not a big rental charge. for us it was an opportunity to get in, get a brand-new hotel in the location. >> reporter: performance has been strong. it's amazing since we actually announced only a week old we're already having a lot of our corporates approaching us about the availability of space for them in 2019 so we're very encouraged by the market reaction to this property and we feel it's going to do exceptionally well for us. >> great, thank you for joining

us that was pat mccann. roger federer is out of the u.s. open after a surprise loss to world number 55, john milman, more on that when we come back man: are unpredictable crohn's symptoms following you everywhere? it's time to take back control with stelara®. for adults with moderately to severely active crohn's disease, stelara® works differently. studies showed relief and remission with dosing every 8 weeks. woman: stelara® may lower the ability of your immune system to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tuberculosis. before or during treatment, always tell your doctor if you think you have an infection or have flu-like symptoms or sores, have had cancer, or develop any new skin growths, or if anyone in your house needs or recently had a vaccine. alert your doctor of new or worsening problems,

including headaches, seizures, confusion and vision problems. these may be signs of a rare, potentially fatal brain condition. some serious allergic reactions can occur. do not take stelara® if you are allergic to any of its ingredients. man: are you fed up with crohn's symptoms following you? talk to your doctor today, and learn how janssen can help you explore cost support options. remission can start with stelara®. cost support options. i was on the fence about changing from a manual to an electric toothbrush. but my hygienist said going electric could lead to way cleaner teeth. she said, get the one inspired by dentists, with a round brush head. go pro with oral-b. oral-b's gentle rounded brush head removes more plaque along the gum line. for cleaner teeth and healthier gums. and unlike sonicare, oral-b is the first electric toothbrush brand accepted by the ada for its effectiveness and safety. what an amazing clean! i'll only use an oral-b! oral-b. brush like a pro.

welcome back to "street signs. i want to talk about what's happening in foreign exchange. big moves in the dollar, both versus g-10 currencies and emerging markets euro/dollar is weaker to the tune of a half percentage point. we had some pmi numbers yesterday bang in line with expectations, but that currency pair is not seeing a lot of love we have rebounded from those 113 lows and cable is also on our radar weaker to the tune of 0.4% this is after two consecutive days of weak manufacturing and construction numbers coming out of the uk. also some questions about bank of england's next move,

questions about carney, whether or not he will extend his tenure he will be testifying in front of the treasury select committee later today. that's the picture for u.s. dollarversus g-10. major moves in different pairs argentinean pace eso has been a focus,less the lira. that currency pair is 1.2% weaker speaking of the lira, we have remarks out of fitch, the rating agency fitch downgraded turkey back in july from double b plus to double b with a negative outlook. this morning they say turkey faces lower growth and a lengthy forced adjustment in the future. they say they expect tougher external conditions and tighter domestic policies to remain. they say while they see growth

recovering somewhat in 2020, gdp this year will be lower than initial expectations roger federer has made a shock exit from the u.s. open after losing in four sets to the unseeded australian, john milman it was a very long match adam reed joins us now >> we were up at the right time to see all this unfold it's the first timeroger federer has lost at a grand slam to a player outside of the top 50 milman said after that he was in disbelief. i think you can tell that by his reaction doesn't know what to make of what he just achieved. it does ruin slightly the idea that federer would be playing nowak djokovic

he is human. now it will be milman playing djokovic he never made it past the third round of a grand slam before federer, so usually unflustered, even the heat wasn't bothering him so much, but he was getting disgruntled by the crowd noises. >> i hate myself for asking this, maybe the time has come to talk about perhaps federer's retirement are we getting closer to that? >> i'm not sure we can call retirement yet he has won a grand slam this year he won the australian open, one of the brilliant australian opens back in january. he'll be back again. but he's showing signs of slowing down he does prioritize the hard court season and the fwrgrass cr season over the clay court season he is 37 he is starting to be caught up by these younger guys behind him.

he can't go on forever i don't think it's just quite time to count him out just yet he will be back. but not won at the u.s. open for ten years now. five in a row before that. pretty incredible. whether or not he will carry on and play in the adp tour finals remains to be seen he might have to rest his body for a little while >> we hope so, don't we? adam, thanks for joining us with the latest on tennis let's look at u.s. futures u.s. is back after labor day dow seen opening up about 30 points higher. later today in the u.s. watch out for manufacturing ism numbers, construction spending and auto sales that's it for today's show i'm joumanna bercetche >> i'm willem marx "worldwide exchange" is coming up this isn't just any moving day.

this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today.

it's 5:00 a.m. and here's your five at 5:00. will it be a september to remember wall street kicking off a new month with stocks at record highs. the gulf of mexico on high alert as tropical storm gordon gains some strength. we'll have the latest on that storm's path and the market impacts. the senate judiciary committee kicks off confirmation hearings for brett kavanaugh and the ceo of jd.com was arrested over the weekend. he's back