welcome to "street signs." i'm joumanna bercetche >> i'm willem marx these are your headlines shares in bayer fall to the bottom of the stoxx 600 after missing earnings expectations. the ceo defends the monsanto weed color and killer and insis safe to use. >> ultimately the signs will prevail making sure this product which is crucial for farmers

around the world will remain available. global stocks struggle as the u.s. and canada prepare to resume tough nafta talks in washington where officials are also preparing fresh tariffs on another 200 billion of chinese goods. >> facebook's sheryl sandberg and twitter's jack dorsey get ready to testify on capitol hill but google owner alphabet declines the request. and amazon joins the trillion dollar club briefly the stock surges to over $2,050 a share, double its value 15 months ago we have some numbers coming out on eurozone composite pmi services i'll bring those to you in a moment we've been watching for this following on from the numbers

last month we're looking now at the final composite pmi of 54.5. that's against the flash released of 54.4 that's against the july number of 54.3. let's look at the european markets. generally we can see across that board a lot of red the stoxx 600 looking to be down around two-thirds of a percent at this stage in the morning if we look at the european markets behind those numbers, we can see it's been a bit of an interesting morning so far across the ftse 100 in particular it's down 0.25 in germany, the xetra dax is down 0.7%. in france the cac 40 is down almost 1%. only in italy the ftse mib is up positively almost 0.15%. let's take a quick look at some sectors across europe driving those numbers. travel and leisure is the lone

holdout above the flat line. food and beverages down 1% technology down almost 1%. healthcare worth mentioning down almost three quarters of a percent. one reason for that is that bayer shares are trading lower after reporting second quarter net profit bayer said its 2018 earnings will be lower than forecast due to the seasonality of the monsanto business. however its takeover of the seeds company boosted core earnings by almost 4% and offset weaker consumer healthcare sales and negative currency effects. the ceo spoke to cnbc earlier this morning about the impact his business faces involving a weed color which the world health organization said was

probably cars dangerous to huma. this after a man claiming the product contributed to his cancer >> we're happy that we finally could take control of the business as of august 16th that was the liftoff i can tell you that all our people are excited to finally get going in what is the leading health company in the world. best products. best technology. and also i believe a very, very experienced and seasoned management team. that makes us confident for the future and truth be told, we remain as excited as we have ever been about the future prospects and the value creation potential we see with this business we've seen one single verdict that you mentioned we stand firmly behind it as a safe product with a strong regulatory record around the world and absolutely no

indication on a scientific and regulatory base that there is a cause and effect relationship between the use this and the onset of cancer disease. >> which is a very strong position effectively the company is in denial, at what point do you need to take pragmatic steps and allocate money in case there are claims coming your way >> as i mentioned, we are very, very confident about the product, the safety of it. and that ultimately the science will prevail in making sure that this product is used around will remain available because it is a very good product that's been in use for over 40 years. in terms of provisioning for legal expenses, we have as a matter of fact in quarter two, as we always do, provided for the defense costs that we expect

for the next years to come in litigating with the plaintiff lawyers on the cases that will come to court. >> it's very awkward timing. this has been an acquisition sold to shareholders for the benefit. here's a case that cropped up that could change the fortunes of the company there must be an element of disappointment that these allegations came to light and the due diligence done on the takeover of this company >> well, i can very comfortably tell you that we have looked at the entire acquisition both opportunities and risks with the diligence you would expect with such a large acquisition we remain very excited about the attractive growth prospects and us really capitalizing on the leadership positions we are going to have going forward with

the combination. there's nothing i would now tell you that has changed in that perspective. we don't control, of course, the cases that are being litigated in court and the timing thereof. with that we are going to file our motions. if necessary appeal based on the signs and regulatory standing. we are very comfortable and confident that ultimately signs and regulatory studies will prevail. downing street praised mark carney theresa may's spokeswoman says the british prime minister believes carney has done a good job. the positive review suggests carney could be set to extend his role at the bank of england as britain aims to steady the ship during brexit downing street said the government will make further announcements on carney's future on due course.

the british select committee asked carney if he was prepared to head on as head of the central bank >> i am willing to do what i can to promote a smooth brexit and effective transition at the bank of england i would emphasize the second point as well to make sure that transition process is done in an effective and orderly manner the chancellor and i have discussed this i would expect an announcement to be made in due course >> carney was asked to comment on the direction of sterling in the event of a no-deal brexit as well as a situation whereby britain secures an agreement >> if i could turn it to glass half full in the event of an agreement, and a suitable transition to that agreement, one could see more positive momentum behind the currency >> in a glass half empty scenario >> one would reverse those >> thank you

>> one of carney's predecessors, mervin king, launched a scathing attack on the uk government over its handling of brexit king told the bbc that "begger s belief that the uk is stockpiling food and medicines." king had previously spoken favorably about brexit he said the uk was now left without a credible bargaining position. angela merkel said while the eu put all its effort into securing a brexit deal there was no guarantee an agreement would be reached >> translator: we do not want these negotiations to collapse we also can't fully rule that out because we still have no result but i can assure you that we will use all our force and creativity to make sure a deal happens. but we must assume that britain will be a third country and that a very intensive free trade agreement can be the basis for our future relationship. >> we're joined by jane foley at

rababank what does this mean for the pound? >> if you look at the pound over the last few months we see a deteriorating position for the pound. as we know all the potential implications of brexit are complex. sterling can move in a much more binary path. it either goes up, down or people stay on the sidelines what we have in sterling now is this concern that we have got just a few months left before brexit is meant to happen. everybody is disappointed that there has not been more progress made on a trade deal investors are getting nervous. but it is interesting that euro/sterling doesn't want to break above that 90 level. most commentators still have it as a view that a free trade deal will be done if that changes, which it could do if the time span before brexit runs out further, i think that would be a real change.

that's what it needs to break above 90 >> there's been a lot of discussion in the last week about carney's tenure, whether or not he will stay an extra year does it matter at all for markets and for the direction of travel for sterling? >> i think it does matter. clearly whatever happens next year there will be upheaval. there will be a bedding in process even in the best case scenario for brexit. so the more uncertainty for uk markets change to a different governor at the bank of england would create more upset. if we have consistency at the bank of england, i think that will help calm nerves to some extent i think a different governor would open sterling up to be potentially more vulnerability >> i want to ask about meefemerg market coverages

overnight we've had south africa slip into recession. the indonesian rupi face a torrid few days. do you expect this trend to continue >> yes what thing you have not mentioned is something which is affecting all em and some more than others, this is the high cost of dollar funding the countries that have higher exposure to dollar denominated debt, indonesia pops into mind, they will be vulnerable to fed interest rate hikes. the market is expecting another fed interest rate hike this month. of course there is anticipation of further to come that's something that will undermine meaning markets. many others are exposed to the chinese/u.s. trade wars. that's another factor. in this environment, even without the specifics of turkey,

argentina, i think you have a bad environment for risk appetite in em and i think as long as that environment continues, i think that favors the u.s. dollar. >> i want to pick up on that comment on the u.s. dollar reading between the lines you're still bullish on the greenback here we have spoken to several analysts turning a bit less hawkish about the prospects of the dollar given that most people are saying we're past peak cycle we have things to contend with like big deficits out of the u.s. coming as well as the fact that every single step by the fed is telegraphed at this point. what still makes you so bullish on the u.s. dollar here? >> i think it's fair to say we've been an outlier for most of the year. we returned our forecast for euro/dollar down in march. if anything the market has gone more rapidly than our forecast

we have been an outlier and bullish on the dollar than most. for me it's the emerging market story, which was a trigger for turning that forecast in the first place and remains center stage for the dollar now a lot of flows coming out of em are going to the dollar, they are not going to the franc or the yen. those are the predom innocent sa predominant ones interest rate differentials are favoring the dollar. we remain positive on the dollar i think perhaps before next year when the ecb is expected to prepare to hike interest rates after the summer of next year then we'll see the turnaround in euro/dollar, for now we're holding that bullish dollar view >> one final question about another dollar the canadian officials will have the great pleasure today of sitting down to restart

negotiations with their u.s. counterparts on a nafta replacement. what are you watching for out of those talks? what impact do you expect to see on the canadian dollar >> if there's good news, it would be good for the canadian dollar there would be relief. we also have a central bank meeting coming up. expectations of another later on this year from bank of canada. certainly there would be relief. it was a disappointment at the end of last week that those talks fell apart perhaps not an enormous surprise for many commentators. we are looking for something positive after those talks >> we have to leave it there thank you very much for your thoughts full-year pretax profits for barratt has jumped they got a boost from higher housing completion and rising

margins. barratt added that it is well positioned to improve performance going forward. and london house prices are robust but the market lacks urgency, that's according to berkeley's high transaction costs and brexit uncertainty constrained the national market. the company backed its half-year and long-term guidance before we head to break, the fbi recovered a stolen iconic piece of movie paraphernalia dorothy's ruby red slippers. u.s. authorities recovered the shoes in an undercover operation in minneapolis they'll be returned to the judy garland museum from which they were stolen in 2005, proving there is no place like home. >> wonderful news. i don't like my shoes going missing. >> i like the red shoes with a bit of sparkle

especially the red soles if you have any views on the dollar or glittery shoes, you can get in touch on twitte twitter, @streetsignscnbc or fwe tweet us directly. asian shares follow wall street lower as emerging worries and trade concerns weigh more on that next. max hold so now you can eat tough food without worry. fixodent and forget it. 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

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welcome back to "street signs. u.s. and canadian officials will resume nafta talks today after missing a president trump-imposed deadline to renegotiate a deal by last friday the discussions followed a tweet from trump over the weekend which says there is no political necessity for canada to remain in the nafta deal. last week mexico and the u.s. agreed to terms on their part of the trilateral accord. the u.s. and canada still remain far apart on terms >> justin trudeau made it clear

that canada would not back down on key demands >> in any tri lateral deal there are always opportunities and moments where there are bilateral discussions. at the same time canada was connected to the discussions ongoing with mexico. we're pleased with the progress made on autos in particular with mexico now our negotiators are heading back to washington tomorrow to engage in a constructive and collaborative way. seeing if there's a deal for all of us there. as i said, we need to see a win win win for all three countries, but canada will not be signing a deal unless it is in the interests of canadian workers, the middle class and canadians in general. trudeau said ottawa would not sign a deal without a cultural exemption clause meant to protect arts and

broadcasting >> we have made it clear the cultural exemption must stand as part of any renegotiated nafta it's inconceivable that an american network might buy canadian media affiliates, whether newspaper or tv stations or tv networks it would be a giving up of our sovereignty and our identity and that is something that we simply will not accept we made it clear that defending that cultural exemption is something that is fundamental to canadians and again we will not sign a deal that is bad for canada and quite frankly eliminating a cultural exemption would be bad for canadians >> asian stocks have closed lower ahead trade tensions and emerging market weakness the indonesian stock dropped 4% while the rupee hovered near a 20-year low. singapore stocks also dropped to

the lowest level since december of 2018. let's bring in josef jelinek how much does this dispute between the u.s. and china weigh on markets in that part of the world? >> oh, incredibly so so the information i got is that this will not be ending any time soon china is preparing for the long battle and for the worst case scenario of a new cold war they think the u.s. is trying to contain china. they talk about distortion that the u.s. is using trade wars or the threat thereof to force open the markets there. they talk about model beat down, and attacking chinese state

capitalism and their model of development to preserve american policies >> can chinese officials blame this on outside attack rather on what's going on in their own domestic economy >> well, in some ways. they are struggling on the economic front there are headwinds there. in fact, it's very important to say that china's growth is home grown and is not the result of the u.s. tariffs there are two facts driving the slowdown there one is the government's concerted efforts to tighten credit and stabilize china's debt levels. relatedly there's been a dramatic drop off in investment spending by local governments.

so now china is trying to walk this tightrope of on the one hand not backing away from the deleveraging campaign, but on the other to cushion the economy against the weak fundamentals and these trade tensions >> not so long ago they reintroduced the counter cyclical factor for the currency is that sending the message that they're not willing to use the renminbi as a tool to combat the threat of the trade wars, a depreciation tool in that sense? >> yes that's a very good point that's exactly right they're not willing to use it. that is simply because of the risks involved so as you may recall, back in 2015 there was a botched devaluation attempt, which led to increased capital outflows. they ended up burning through $1 trillion of their foreign

exchange reserves to support the currency this is a similar issue now. it is what they're fearful of. which is that on the one hand, of course, a deprecated currency helps them offset some of these tariffs. but if the currency is going to fall too far too fast, they are concerned that investors may get frightened and they could see huge capital outflows, which is what they don't want right now they are absolutely -- >> all right thank you, sir we are have to leave it there. stay with us, the $1 trillion club had a new member briefly. we'll look at amazon right after this break

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the ceo defends the monsanto weed killer and insists it's safe to use. >> we are very, very confident about the product, the safety of it >> ultimately the signs will prevail making sure this product which is crucial for farmers around the world will remain available. global stocks struggle as the u.s. and canada prepare to resume tough nafta talks in washington where officials are also preparing fresh tariffs on another 200 billion of chinese goods. >> facebook's sheryl sandberg and twitter's jack dorsey get ready to testify on capitol hill but google owner alphabet declines the request. and amazon joins the trillion dollar club briefly the stock surges to double its value from 15 months ago

more data coming out of the uk we had the eurozone services number now we have the uk august services number. that's come in at 54.3, versus the reuters poll of 53.9 slightly higher than expectations and also higher than the july number which came in at 53.5 so for once actually the data is surprising to the upside in the uk after the latest slew of numbers. we also have the employment component that came in at 52.5 ves versus july's 53.9 the uk gdp is on track to grow in the third quarter those are the numbers out of the uk this morning. let's broaden this out and talk about how markets are doing. as you were talking about asian

indices trading in the red, led by steep declines as far as indonesia, singapore, the mood is pretty dim as well in the european session we have ftse 100 down more than 30 points. xetra dax down 0.7%. the underperformer is cac 40 down 60 points ftse mib continues to stay in the green after a strong performance yesterday. switching to foreign exchange, we were just talking about the pound here again, it continues to trade on the back foot. today weaker to the tune of 0.3% euro weaker down as well that's telling the story of a stronger dollar that was also the theme in yesterday's session. let's switch and talk about u.s.

futures. that strength in the u.s. dollar and the rise in interest rate yields bit into u.s. equity performance yesterday. a similar theme playing out today in line with asia and europe dow opening up about 100 points lower. s&p about 10 points lower. >> the big u.s. companies that bucked that trend was amazon which briefly joined the trillion mark yesterday. it crossed a high of $2,050 per share, that's the price necessary to top that record trillion dollar level. it is the second company to hit that valuation mark after apple took 38 years to reach that milestone. amazon did it in 21 years with the share price doubling over the last 15 months >> i want to give you an interesting stat there are 60 stock exchanges in the world of which 16 have market caps of more than $1

trillion so you're talking about two companies in the u.s. that have a market cap larger than 44 of the world's largest stock exchanges. >> striking number >> interesting one >> facebook's coo sheryl sandberg and facebook's -- google's ceo jack dorsey are se to deal in front of congress today. sandberg is expected to brand efforts to manipulate the 2016 election as unacceptable she will add that the social media giant was too slow to spot this and to act. sandberg will also, we expect, highlight facebook's move to remove accounts linked to misinformation campaigns and put in place tighter security on that company's platform. dorsey is set to focus on

twitter's increased drive to delete accounts for manipulation the number of removed profiles has shot up 200% in the last year dorsey will also cite a decline in the reports of false accounts no senior executives from alphabet are expected to testify. the going parent offered to send its chief legal officer, kent walker, but that was rejected by key lawmakers. >> the management team decided that under the circumstances they wanted to send kent, the senior global affairs person he would have been the right person to discuss the issues

>> do you think they have responded to last week's allegations that search results were infected with political bias they relied on trying to explain their algorithms i can't understand it. >> i think the algorithms are complicated. i think political bias never entered the search results i think the search results, there's a deep trust relationship with users. i think if google changed this, people would abandon google. >> algorithms are programmed by people this google algorithm has been a black box. every year there are so many updates to this algorithm it's a black box. how does the company explain there is no political bias when the algorithm is hard to

understand >> the algorithm is difficult to understand we have many, many people who basically are constantly tuning the algorithm looking at what is the search most people want. what's the result they most want back that's what drives that search process. i think the algorithmalso -- i has protections in it against people who try to mislead the search result and get their webpage to rise up by creating links which are not real and things like that >> in a written statement that the company will submit to congress, google is expected to say it has a responsibility to prevent misuse on its platforms and that it takes such misuse seriously. we're joined by samantha bradshaw from oxford internet institute. thank you very much for being with us. let's talk about google. they're having to defend their

search algorithm against accusations from president trump of political bias. is that where we should be focusing our attention or more about the misuse of google by malign actors? >> i think trump's comments about google's algorithm being bias distracts from a lot of the bigger debates that we need to have as a society around how the google algorithms as well as facebook and twitter and all the social media platforms, how they're shaping our lives. how we interact with one another, how we find political news and information there's some big, deep questions here trump's claims about bias distract away from some of those deeper, meaningful questions >> we got a preview of some comments we expect to hear from some of these tech executives later today. they talk about taking seriously efforts to undermine democracy, the impact of malign actors trying to subvert their systems

for political tools. are these tech executives in your view making assurances about preventing this kind of behavior in the future that they can't keep >> there are always going to be people who are going to break technology so to an extent, yes there is only a limited amount of things these actors can do, safeties they can put in place to prevent actors from taking advantage and exploiting the systems. there will always be people trying to make those efforts that doesn't mean the social media platform should do more to help raise the cost for those people trying to break the system >> you said you think today's hearings will be mainly focused on two points. the first is how have foreign agents used these platforms, and the second is what are social media platforms doing to combat it i'm curious to see what your findings show these foreign agents have been using is it simply a case of creating fake news, fake articles, then

sending that out or is it a case of targeting specific audiences with the same message over and over again as you can see, if it's a fake news story, it's relatively more simple -- easier to combat than just simple targeting. >> yeah. i think they're doing a bit of both social media allows us to target a wide group of people and micro target individuals based on their interests, their behaviors, values. we do see fake accounts what we call political bots being used to amplify these stories, fake news stories and content to generate a false sense of popularity or momentum around an idea or issue. but we also see targeted advertisements going to specific individuals, communities of people who hold certain values and these messages are then being used to polarize communities between each other

>> how much of the onus do you think should fall on the social platforms versus actually having active government participation? the irony there, to point to some data that you shared, some statistics, since 2010 political parties and governments have spent over 5$500 million on specifically influencing social media platforms, how they want to combat it and at the same time many political parties find it expedient to use social platforms for targeting. >> i think everyone has a role to play in addressing some of these challenges we can't just leave it up to the platforms. we can't leave it up to government we need to work together we need to start thinking seriously about how social media platforms should be used in a positive way to support democracy and to support good democratic outcomes rather than undermining and weakening them >> just on all this, the idea of legislation, whether in the u.s. or anywhere else, you will have

well-paid lobbyists on behalf of these tech companies saying don't do anything. we want to have as much income as possible. you will have lawmakers grandstanding saying let's crack down how do you pass legislation? what does that legislation look like so you don't kill the goose that lays the golden egg for these companies? >> i think a lot of the positive legislation we've seen so far starting with the honest ads act in the united states, that provides more transparency around who is actually buying ads. and it also provides an archive of different political ads that people can see we also need new laws around campaign financing in politics, and a much bigger debate as to whether or not we should have micro targeting in the first place. how much of our personal data should be used by politicians to target us with individualized messages should this actually be something that is healthy for

democracy or should we go back to some of the more traditional broader approaches to targeting with traditional tv ads that have a much wider audience it's not so individualized or personalized >> we heard from the social media platforms, some steps they introduced are hiring more data scientists, improving algorithms, incorporating artificial intelligence. how accurate or how effective are these algorithms at cracking down on the issue in the first place? can the technology keep up >> it's hard to say. we don't have a lot of access to how the algorithms work. the decisions they make, what they don't make, even with content moderators making these decisions, we don't know how or why they decide to take certain content down in order to determine effectiveness, we have to

understand the fundamentals as to how they work we're right now not at that place. >> thank you very much for your time that was samantha broadshaw from the united states and washington, d.c., u.s. special council robert mueller will reportedly accept written answers from president trump in the russia investigation according to multiple newspaper reports in the united states, mueller sent a letter to trump's lawyers offering to accept written responses on whether his campaign conspired with russian election interference. the reports added that mueller could still request an interview in american as a further step. >> the white house has hit back at claims made in a new book by famed watergate reporter bob woodward kristen welker reports. >> reporter: in his explosive new book, bob woodward describes the trump presidency in the midst of a nervous breakdown aides calling it crazytown, at

times paralyzed by the russia investigation, and that possible interview with robert mueller. >> i always wanted to do an interview. >> reporter: woodward reports mr. dowd told mr. trump tonight testify, it's either that or an orange jumpsuit. the book are portrait of aids taking extreme mesh showasures c their boss gary cohn reportedly swiping a lert off t letter off his desk. and after the president told defense secretary james mattis he wanted to assassinate syrian dictator bashar al assad for a chemical attack on civilian, mattis told the president on the phone he would do it but then telling a senior aide quote we are not going to do any of that. the book describing extraordinary insults from the president's staff, woodward

writing mattis described mr. trump as having the understanding of a fifth or sixth grader, and chief of staff john kelly has called the president an idiot reported in the nbc news tonight, kelly calling that accusation b.s. and another pathetic attempt to smear people close to president trump and distract from the administration's many successes. mattis calling the accusations the product of someone's rich imagination. woodward also describing a president lobbing his own insults, calling attorney general jeff sessions a traitor, mentally retarded and a dumb southerner woodward didn't talk to president trump for the book saying his requests went unanswered tonight, publishin this phone call with the president last month >> who did you ask about speaking to me >> well, about six people. >> well, they don't tell me. >> reporter: late today, the president responding in an interview with the daily caller saying it's just another bad book and woodward had a lot of credibility problems

coming up, egypt's finance minister expresses his concern over the emerging market crisis. more from that exclusive more from that exclusive interview in a few momentsoothe, the more comfortable you are in it. and now there's a new way to smooth. introducing new venus platinum. a premium metal handle boosts control... to reveal up to 100% smooth .skin. venus 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 sease, 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,

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as concerns about emerging markets continue to grow, the egyptian finance minister has told cnbc that cairo has the resources to handle the negative contagion but only up to a certain point. >> it is worrying, however we're able to observe these negative effects, and egypt's economy is a diversified one. egypt's economy has sources to address this, however up toa limit. hopefully what is happening will be corrected and will move to a staebl stable position. yes, we are observing all the

shocks, oil prices, emerging market problems, interest rates, all of that. but again, if it continues like that, it will be a problem for us >> for more on hadley's exclusive interview and to find out how the government will tackle the debt pile, head to cnbc.com the saudi stock exchange and msci announced plans to create a tradable index which will be available later this year. this follows the decision by msci to include saudi arabia in its emerging market index in 2019 we are joined by khalid a khalid al hussan, ceo of tadw

ul so what is the benefit of this to saudi businesses? >> to add more diversified product to institutional investors. as you mentioned, the saudi market has been included in three indices this year to be implemented and next year. so in our preparation for providing an additional tool for institutional investors to attract them to participate on the equity market, we have the offerings of the derivatives market from 2020 as planned before to the first half of 2019 >> so that's the ben fefit for e institutional investors. what does this mean for the

businesses that trade on your exchange what's the benefit for them? >> more institutional investors participating on squadedy corporate corsaudi corporates, access to this local and internationally, these are major benefits for any issuers in any exchange. the more institutional exchanges an issuer has, the more security provided to issuers to get capital at any point in time >> have you done analysis on the quantity of inflows you're expecting from active and passive accounts to go into tadawul once it goes into msci, and one of them was the potential of the saudi aramco,

and that has been postponed. how will that influence this >> following the decision of including tadawul on the mer emerging market indices, that execution will happen definitely next year the inflows of capital, which we estimate to be between 15 and 20 billion u.s. dollars, that is happening starting march 2019 and until the end of the year. if we look at the active sign, that could be impacted by several factors. i would say we have seen very good growth in the saudi market since the decision of including tadawul in these indices we have seen 150% growth in

ownership, 50% growth in schwab ownership in the markets so the active investors have started to come. these are active funds they own today 2% of the market cap, which is basically around 500 billion u.s. dollars so it keeps growing as we go with regard to impact of other decisions like decision that we're waiting for for aramco to be listed, i think the saudi stock exchange will continue to develop the market to be ready for saudi aramco and other issuers, and the inflow of capitals will depend on how attractive we are. that's why we are accelerating thederivatives, the futures to

the first half of next year, signing with the largest international index provider so making the environment an attractive area. >> absolutely, sir thank you very much for your time thank you for joining "street signs" this morning. just a quick look at u.s. futures before we head out, sentiment dipped south in the last hour and a half dow opening up about 100 points lower. s&p about 10 points lower. that's it for today's show i'm joumanna bercetche >> i'm willem marx "worldwide exchange" is coming up right now ♪ hawaii is in the middle of the pacific ocean. we're the most isolated population on the planet. ♪ hawaii is the first state in the u.s. to have 100%

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it is 5:00 a.m here are your top five at 5:00 technology front and center. leaders of facebook and twitter set to be grilled today. tropical storm gordon claiming its first fatality. it's the end of the line for theranos they will dissolve as its founder is charged with fraud. toyota recalling more than 1 million cars because of a fire risk. and high stakes trade talks between america and canada picking up today we're live in the nation's capital with what you need to watch on this wednesday, september 5,