it is 5:00 a.m. here and 10:00 a.m. at the heart of london and here's your top 5 at 5:00 the city's government is looking to officially with draw that controversial extradition bill stocks are soaring we'll take you live to hong kong in a moment. meantime, the u.k. drama is heating up as they look to force a vote to block a no deal brexit we have the latest in the saga investors bracing for wednesday whiplash stock futures pointing to triple digit gains at the open after what was a terrible tuesday for equities the gun control debate now

hitting corporate america as a number of retailers step forward to take a harder look on sales and safety and an epic upset in queens as roger federer is going home early from the u.s. open. it is wednesday, september 4th and worldwide exchange begins right now. good morning, good afternoon, good evening, and welcome from where ever in the world you may be watching. thanks for joining us. we'll get to all that we just referenced in a moment but first, new video coming in from overnight in the bahamas. it's difficult to watch. these are the first scenes from hurricane dorian you can see the storm leaving a trail of destruction unlike anything that anybody has seen in a long time if ever nearly every structure on many of the islands is either gone or severely damaged with new concerns over the availability

of drinking water, food and the basic needs of the people that live there dorian is still a major dangerous storm and it's now heading to the florida coast and there is its current path. >> what we do here on cnbc and stock futures. what a turn around from yesterday. literally stock futures indicating were to gain back pretty much all of what we lost yesterday. all of that concern about ism manufacturing index. the hong kong news that we'll get to in a moment helping to power futures higher the early trade in europe as well, we're seeing a similar story, gains across the board. germany france and italy all up more than 1% the benchmark ten year yield continues to remain depressed. 1.48% and the two year note yield at 1.46% note.

it is lower than the 10 year note something to watch there we're coming off multiyear lows on both of those yields. so now let's get right to the breaking news out of china reports this morning that hong kong chief executive lam is set to announce the formal withdrawal of the controversial extradition bill as soon as today. the hang seng index right now is up nearly 4% what a move there from hong kong and chris is still on the ground there in hong kong and he has now the news and the reaction to it, chris? >> we can confirm that the leader of hong kong moments ago entered into a meeting with lawmakers, reportedly that's something that we have not confirmed, reportedly to discuss possibly with drawing that extremely controversial extradition bill that's the same bill that sparked these months of protests

in which we have seen at times up to 2 million people according to local reports demanding that it will withdrawn. now lam has been extremely reluctant to do that and however if these reports are confirmed that might change the game it's uncertain is there will be enough to keep protestors from turning out to the streets they have other demands as well. they want him to re-sign they want people to be arrested. they want more than 1,000 protestors throughout this movement to be given an amnesty. we have seen a lot of alleged police brutality as well that's another thing protestors want to see investigated we saw battles between police and protestors protestors that were violent themselves but then police that responded with a water cannon and at times things got very ugly they even chased a group of protestors down into the subway

and beat them with their clubs and hit them with pepper spray and according to amnesty international some of those people were innocent bystanders. now the question is will this be enough to keep them from going to the streets, brian. >> live in hong kong with a major story that has stocks there soaring, chris, thank you very much. your other major global story happening right now, boris johnson gambling and apparently losing, at least four now. his push for a hard brexit has cost him the vote and possibly his leadership after a key conservative party member abandoned his party and instead sided with liberal democrats that means the british prime minister loses his majority and still an evolving story. he joins us live from london with more. >> let me explain what happened last night parliament took control of its own schedule for today that was important because there's only a very small window

before parliament is suspended on boris johnson's orders next week what they're trying to do as of today is introduce fresh legislation that will block prime minister johnson's ideal negotiating threat to the eu that's the threat of a no deal brexit something a lot of members of parliament say will be economically damaging. if they manage to do that today and over the next couple of days, before that's suspended, that will be critical. boris johnson said he would like to see an election it makes it very different for him unilaterally to demand a general election and what the opponents inside of the house of commons will be saying they would only allow a fresh election if this legislation blocking no deal goes through first. that's something that market participants are very closely watching because they are concerned about the economic fall out from a no deal brexit and that would be one of the

reasons we see the pound strengthen very slightly since the vote yesterday. >> the world of british politics is a little bit confusing. obviously very different than what we have here. is there any possibility with this tactic that boris johnson could serve a couple months as prime minister is there any chance that he would then be forced out and we could have another prime minister in the u.k. or is that not possible at all. >> what he is saying is he would like to see an election to resolve this situation he doesn't think it can go on as is because he lost this ability to negotiate with the eu with this tactic he hoped to have the idea of a no deal brexit as a threat to force them to make concessions. if he is to stay as prime minister it would require him winning an election and this is where the complication is even greater because of course the 33% of british voters currently

polls would go before the party is not enough to form a majority even if they are based on current polls that's not enough for the majority this leads us with the fresh election and maybe with the new prime minister as part of a coalition of parties opposed to brexit but boris johnson as a well-known sixzfuccessful campar in the past may have his ability to sell brexit by october 31st if there is an election between now and then. >> an incredible turn of events overnight there in the u.k thank you very much. also happening this morning, a developing story in the on going debate over gun safety and regulation as a number of companies and retailers are now taking action for guns and ammunition. >> walmart will stop selling

ammunition for handguns and assault rifles in it's u.s. stores and will stop selling handguns in alaska the only state where it does so and is now asking it's customers to stop openly carrying firearms even in states where it's allowed by law it will take effect when it sells out of its current inventory. the decision came after horrific events this summer including mass shootings atwal mart stores in texas and mississippi in a letter to employees, he urges background checks be strengthened and call for a new debate on the new assault weapons ban. he says i'm a gun owner myself in a complex situation lacking a simple solution. we're trying to reduce the risk that events like these will happen again the status quo is unacceptable walmart like dick's sporting goods ended sales of assault rifles and raised the age of gun purchases to 21 years old. the latest action will cut the share from around 20% by more

than half. kroger, the largest u.s. super market chain following the move asking customers to stop openly carrying guns in stores. the nra responding saying walmart's decision will not make america safer. smith and wesson closing sharply lower yesterday. >> thank you very much when we come back, futures indicating the markets could get back most of if not all of what they lost yesterday as brexit hong kong fears of a u.s. economy. roger federer is going home. president trump may want to tune into our trending topics today and possibly turn off his twitter feed if he cares about the stock market a really interesting study that

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good morning the big story sending futures higher this morning. hong kong's chief executive said she may permanently withdraw the

planned extradition bill that sparked the protest. dow jones up about 233 if that happens, we gain back not quite all but most of what we lost yesterday. but should the markets really be reacting this way to this news joining us now is michael tyler, chief investment officer at eastern bank wealth mechanicment and apparently michael you have to be an east asia strategist or at least a hong kong strategist to understand the way the u.s. markets are reacting these days. is that the way it should be for american stocks? >> i don't see that there's a tremendous impact on the u.s. either way but having said that, political unrest is not good and to the extent that her ability to with draw that bill helps calm markets and calm the economy in hong kong and in china, that would be very positive and we'll see what happens. i don't think that's the major thing that's going to be driving markets. it hasn't effected markets on the down side.

i don't think that in the u.s. it's going to have nearly as big of an impact as the upside i think the brexit deal and things going on in the u.s. are more likely effecting u.s. markets. >> we had the more violent protests over the weekend. stocks fell yesterday. now we have this the hang seng is up 4% but you don't believe there is that much of a direct tie. you think that maybe brexit is more important than what's happening in china or at least hong kong? >> the stuff happening in hong kong is important but it's not going to effect the long-term movement of markets. so they went bad on monday and on tuesday rather, they come back up on wednesday you're right where you left off before the weekend but what happens in britain by contrast, there is a big deal because if there is a hard brexit and britain's economy goes in the tank versus if there's a deal or no brexit at all, then europe's economy, britain's economy can come out very differently and that does have an impact on the

u.s. >> brexit, i don't want you to become a u.k. political strategist as well because if you you can understand that you're a better man than i am at least. does the possibility of a brexit either delay or permanent shelving which is the way it looks like it's headed, should that help the u.s. markets longer term or give us a short-term adrenaline shot >> i think the best possible outcome would be to eliminate brexit completely or have another referendum and say we have seen what it looks like and we don't like it that would be an outcome that would send markets higher for the simple reason that the existing trade rules, trade flows, population movement, all of those good things would continue but if that doesn't

happen, if you get a hard brexit with no deal it's going to hurt the economy. it will be painful in the short-term but the u.k. is resilient and it will come through overtime the middle scenario is the challenging one of what happens if we just agree to another six months of negotiations because the eu doesn't frankly have a whole lot of incentive to negotiate. britain isn't as important to the u.k. -- i'm sorry, britain isn't as important to europe as europe is to britain and that's the scenario that has a lot of cfos and corporations worried because they don't know what the outcome is going to be they can't plan effectively. >> are u.s. stocks under valued or overvalued now michael? >> u.s. stocks look decent right now. i wouldn't say they're cheap but look where bonds are by comparison and there's more value in the stocks than in bonds. earnings growth is going to have

challenges the second half of last year was very strong as you may remember. so looking ahead and that may keep the market, in place but after that, assuming we can avoid a investigation, the u.k. market looks pretty good >> a little optimism on this wednesday morning. thank you. on deck, is the recent ipo rush stalling out a little bit? plus the one stock playing a game of chicken with investors as it is premarket worldwide exchange is back after this so servicenow put your workflows in the cloud, huh? mm-hm. your employees must love you. thank you. ah, you could say that. so how are things with you guys? great. thank you. thank you, sir.

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no comment on the stories. data storage, software and chicken topping your stock stories right now. first up, data starboard value partners disclosing a more than 7% stake

in box shares are simply undervalued and they may talk to the company about exploring a sale also today, tyson foods are cutting their profits for the year citing short-term challenges including food safety issues and a fire at its beef plant in kansas you also have record u.s. beef and chicken production pushing down prices eating into tyson's profit margin. >> all right still to come, an epic upset in last night's u.s. open has one former tennis champ going home early and later, missing out is the trade war with china actually sending more money and brains to that country one investor says it is and he'll tell you why

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francis rivera is in new york with that and more. >> after that tragedy at sea, the search for answers intensified in california following the devastating boat

fire authorities are now saying that all 33 passengers and one crew member are presumed dead 20 bodies have been recovered. the other 14 are still missing federal investigators are questioning the captain and surviving crew to try to pinpoint the cause of the deadly fire the pentagon is shifting billions of dollars in military money to fund trump's border wall secretary of defense authorized $3.6 billion to be used to fund 11 border wall projects. causing a set back with the defense department as 127 projects get put on hold for president trump's wall construction is set to begin in about 135 days it's been 11 years since roger federer won the u.s. open but it will have to wait for a shot he was upset in a quarterfinal match. the only unseeded player left in the draw was 0 for 7 lifetime against federer heading into the match. those are your headlines >> francis, thank you very much.

all right. up next, dorian heading for florida and the carolinas as thousands evacuate the coast of this still very powerful storm the latest on its path and it's timing coming up plus futures are higher but is there one red hot sector that has bp sending a big warning sign about what may be ahead we're up 226 a bk ghafr is you should be mad at airports. excuse me, where is gate 87?

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stocks there are soaring overnight. prime minister boris johnson taking steps to block a no deal brexit add these stories together and you have green arrows around the world right now. dow futures pointing to a more than 200 point jump at the open. good wednesday morning it's september 4th you're watching worldwide exchange right here on cnbc >> all right welcome back and thank you for being with us on this wednesday morning. exactly 5:30 on the nose thanks for joining us. here's how your money and investments look right now we're halfway through the 5:00 a.m. hour in new york stock futures are much higher. up 223 points right now and if we gain that, if we open up like

this, we might gain back almost all of what we lost yesterday. suddenly all of those fears about a weaker manufacturing data point may be forgotten. maybe not in the bond market because benchmark ten year yields still sitting under 1.5%. and 1.46 here's what is moving markets. breaking news out of hong kong. >> the chief executive lam is reporting to with draw that extradition bill as soon as tonight. it's one of the major demands of pro democracy protestors stocks in hong kong soaring on that news closing near session highs up just under 4% we'll have more as this story develops throughout the day. most of the major indexes were up more than 1%. boris johnson gambled and

potentially lost at least for now. last week he pushed to suspend parliament and last night parliament pushed back 21 members of johnson's conservative party voted against johnson's government another one even defected to the opposition party johnson no longer has a governing majority as parliament looks to vote a no deal brexit as soon as this week also, new developments in the trade war, rising tensions and new tariffs are making the next round of negotiations increasingly difficult for both parties. tensions are so tough that according to our own reporting here on cnbc, president trump reportedly wanted to double existing tariffs on china before settling on a simply smaller increase but one area of the market feeling stronger impact both positive and negative is technology his managing partner and early

investments and then i'll say good morning or good evening to you. thank you for joining us what we're trying to do its the intellectual property and that's the benchmark basis for the trade war. if you're looking at money and intellectual property. are you seeing the exact opposite impact in china >> over the first half of this year u.s. investment in china has increased 1.5% a lot of that is being driven in development strategies and creating jobs here in china and they're building factories and for instance the large tesla factory in the news now. tesla avoiding a 10% tariff last week and those factories are part of a strategy we see u.s. companies deploying

which we call in china for china so essentially building products locally to sell into the consumption story, chinese growth over the last six months or so driven about 75% by domestic consumption so i think people really still believe in that both domestically and certainly american companies as well. >> do you think that can continue or do you view it more as a short-term phenomenon >> i think it's long-term. >> we are obviously very long the china consumption story. we belief that consumers here are continually upgrading their tastes and a lot of that consumption upgrade involves foreign brands consumers want to buy tesla cars and use dyson and that will drive increased amounts of investment in china as they try to tap into the consumers that are wealthy and aware of a global array of products

available to them. >> when i was in hong kong a couple of weeks ago i met a gentleman at the airport that started a bunch of companies he is launching a new business it's basically they have steel and aluminum, things that are hit by tariffs and i said to him, why don't you start your company in america or in another country besides china given all that's going on? he said listen, despite everything else going on china still has the best supply chain capability they know how to get things done faster than anybody and even with the tariffs, he still views it as a good place to begin his organization is that a fair summation that china has such a lead that even the tariffs aren't going to move everything to cambodia or vietnam or bangladesh or the united states. >> it's going to be very difficult to find alternative sources of manufacturing for these very high-tech products.

but certainly to move back to the united states or other southeast asian markets have struggled and in the long-term, to rebuild the supply chains from the microscopic pieces that are required is not something that can be done overnight it's at a massive cost to consumers and businesses themselves and we're in a environment with a high degree of up certainty. it's not clear whether this will be a sustained process.

a side of the story that we don't talk about much but we probably should and i'm glad we did. thank you. have a great day. >> all right moving state side and switching gears, power has been powerful at least for investors look at that that is the dow jones utilities index. it's up 20% this year. so what is ahead for this often unloved group of equities? joining us is the president of reeves asset management. welcome good to see you. >> you have been doing this how long >> i'm on my 25th year if you even a little surprised how strong utilities have been this year. >> well, one wouldn't normally expect it. >> it's regulated growth they give us power we turn on the lights. it's supposed to be safe income

and not a 20% jump. >> that's right. we had a number of things at work that made it a great time to be a utility investor the first is the steady drum beat of earnings growth why is it so great suddenly? >>. >> right now that's caused a lot of folks to get attracted to utility. >> you have the fear and the dividend yield. >> double the ten year note and by the way, natural gas sitting at $2.

so the input cost is down. >> but even beyond that, a lot of companies are investing in resources and when we think about ways, we think on a risk adjusted basis utilities are about the most attracted way to go >> hoe are these >> sure. remember utilities get paid on what they invest so that provides them an investment opportunity and opportunity for earnings growth. >> a lot of these names, i guess i'm old enough to remember when they had different names are there any that stand out and look better than others or as a group are they similarly attractive >> no, a lot of investors throw

money at these companies but they're all individual companies. >> it's a group of stocks. let's put the money in but some are better than others. >> that's right. there's 50 states. some of them we like and some of them we don't like. >> who do you really like? next era >> we do it's the largest holding in the utilities etf. it's one of the best managed and it's the utility that a lot of other utilities try to emulate the most. >> utilities have been red hot >> on deck, lawsuit alert. ariana grande is suing a retailer for $10 million the real story you'll find out why the pop star is saying no, thank you next and then high risk and high reward the cannabis industry is set to

explode with growth. and a sneak peak at challenges part of a documentary done by melissa lee. we're back when worldwide exchange returns y race. every new job. and attempt to parallel park. (electrical current buzzing) each new draft of every novel. (typing clicks) the finishing touch on every masterpiece. (newborn cries) it is humanity's official two-word war cry. words that move us all forward. the same two words that capital group believes have the power to improve lives. and that, for over 85 years, have inspired us to help people achieve their financial goals. talk to your advisor or consultant for investment risks and information. it's how we care for our patients-

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welcome back remember yesterday, how long ago was that was that just 24 hours ago the markets fell because manufacturing data came in weak and all of a sudden all of these concerns about u.s. growth and the market was doomed and everything was terrible. >> tariffs. >> and now everything was fine because of hong kong and maybe even the u.k apparently we're going to be talking about ariana grande.

>> you said that with trepidation. the key part is what she looks like. >> i have a teenage daughter. >> so you know it well. >> she was at one of her shows. >> did you go too? >> i didn't want to jam her up i don't know if people say that. >> still looking good. >> we're going to move on to somebody else that has some very well-known hair. the president's twitter account has the power to move the marks. but a new study quantified the effects and it turns out markets do worse on days when president trump tweets more than 35 times regardless of what he's tweeting about. when he tweets less than 5 times per day the market returns are higher we have to keep this in focus though since the 2016 presidential election the dow was up by 42%. >> interesting now let's get to grande. >> yeah.

>> or venti. >> i'm not a coffee drinker. she is suing forever 21. she says they stole her image by using a look alike model in social media m ka -- campaigns the same high ponytail and head dress. all of this happened after she turned down their offer for a campaign deal. she is seeking $10 million in damages but she might want to collect pretty soon. forever 21 is currently weighing bankruptcy. >> get paid soon because forever 21 may just pay her in old clothes if the bankruptcy goes through. >> earrings, tops, trendy tops. >> maybe the tops in the picture there. frank holland, thank you. >> well, 2018 was the year of the stock. in the meantime, their american counter parts were left in the dust hampered by strict laws here in

the states now legendary investor predicts another stock boom is just around the corner. he says that american cannabis companies are the ones to watch. watch this >> despite a ground swell of legalization at the state level, cannabis remains federally illegal in the u.s. >> i would still favor one uniform federal rule against marijuana. >> creating unique obstacles for american cannabis companies. for example, american companies can access traditional banking can't write off and meaning they had to build redundant operations in any state they enter. >> the reason is because it doesn't make sense. >> perhaps the most notable disadvantage is american companies can't list on major u.s. stock exchanges while their canadian counterparts are

welcome. >> do you think we missed out and ceded the advantage to canada basically >> i hope not but it's possible. >> the companies are way overvaove overvalued and i'm most excited about the multistate operators. >> bulls say it's an opportunity for investors to get in on the ground floor. >> you actually like this hasn't happened yesterday. >> why >> there's not as many eye balls yet. nasdaq and the n noew york stoc exchange were to stop improving trading of the names that's massive then it's game on. >> now there are indications that the burdens on american companies could ease up within the next few months on or around the 2020 elections you're going to hear more from danny moses plus arguments from other bulls and bears in our new cnbc original documentary called high risk, high reward

cannabis inc and it premieres tonight. meantime, we continue to track hurricane dorian today after blasting the bahamas of course that will bring it dangerously close to communities all the way from florida to virginia jay gray is joining us now live once again from savannah, georgia. jay. >> hey there, brian. we're right in the middle of the forecast track and we expect to see conditions here change in the next several hours many of these coastal communities are going to get hurricane force winds. we're going to see storm surge and flooding, rains. so while the storm isn't making landfall at this point it's going to pack quite a punch as it moves up the coastline here the most likely scenario for that will be late this week and somewhere along the outer banks of north carolina. >> so what is your situation as far as the people around you your crew? the people of savannah is savannah empty right now? is it some what business as usual? are you seeing signs of activity

or has everybody left? everything is locked down and folks are watching this to see what is going to happen. that window is going to continue to get closed for communities as this thing continues to move on. so preparations just about over at this point. it's time to either move on or ride this thing out. as we have learned, this is one of the most powerful storms in modern history. >> yeah. >> overwhelming. >> be safe thank you very much. coming up, why september could be a rough month for stocks. futures are higher right now by

220 you have to watch out. later this morning, don't miss sam zell he's going to be on squawk box which is the next program. std anby servicenow put our workflows in the cloud. this changes everything. you're right sir... everything. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps. you done? a million steps ahead. servicenow. works for you. there were tsunamis fourtin the world. and once they happened, we were in a major hurry to get to those regions to provide aid and support. it was very humbling to be able to help out all those people. it's my dream now to go into clean energy and whatever the next new fuel source is,

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boris johnson said he will push emotion to hold a snap election but he would still need 2-thirds of parliament to approve a vote british pound bouncing back after dropping below $1.20 more than 30 u.s. states are looking at a google anti-trust

probe. it's unclear if a group of attorneys general will also investigate other tech giants like facebook, amazon and apple. meantime, maker purdue pharma is preparing a free fall bankruptcy the company's lawyers had documents prepared last friday for a chapter 11 filing at a moment's notice. that's what a free fall bankruptcy is. back to the markets and your money, futures are up not as much as they were but still up 200 points right now that extradition bill might be helping their markets and maybe helping ours as well let's talk about this day, this week, this month, this quarter he is a chief economist at pnc and i know that the day-to-day headlines of hong kong and brexit are pushing the markets around a little bit but these things move on the next couple of years

the fundamental soundness of the american economy what do you see? recession or no? >> i see slower growth over the next year and a half or so so i think the tariffs are going to have a negative impact on consumers. all the uncertainty we're seeing, businesses don't know what the pictures are like they're not sure whether they should be exporting or not that's weighing in as well consumers remain in fairly good shape. we have god wage growth. that should be enough to avoid the recession in the near term. >> slower growth does not mean contraction. so you see us muddling along but not contracting or collapsing. >> that's right. i think we'll see gdp growth north of 1% over the next couple of years we'll see a slowing in job growth but that's to be expected given the tight labor market and difficulty that firms are having

and finding workers but i don't see an out right recession unless we see something either on the international front or on the domestic policy front. >> do we need the federal reserve to quote, save us, gus >> i think the fed has already taken a step by cutting rates earlier this year. i think we'll see at least a couple more rate cuts. they'll be looking at the data i think that they are concerned about the uncertainty that's overhanging the u.s. economy right now and if we do see a more substantive swelling then we'll see further rate cuts and perhaps a resumption of qe if necessary. >> do we need that if the economy is not going to go into contractual recession, why do we need it with 16 trillion around the world already and ten year at 1.46%. i think the reason we need it is that we would see a more significant slowing. so that forecast assumes that the fed does provide support to the economy in terms of rate

cuts i don't think we're going to need qe but the fed indicated that's a further option if it's out there but i do think that we do need rate cuts over the next few quarters to make sure that we don't fall into recession it's a precautionary move by the fed. we are seeing slower growth ahead. this is intended to offset the drag >> is there any part of them under played on a strength perspective. we see people still buying homes and cars we know that manufacturing is slowing down but is it something that we're not focused on but we should be. >> they're in solid shape. we have seen job growth over the past year. 160,000 per month. wages are growing at better than 3% annually so that's double the pace of inflation. the tariffs will be a hit to consumers but the fundamentals there continue to look pretty

good it's going to carry the economy through the soft spot that we're expecting to see over the next year and a half or so. >> just quickly, it's not related directly to the segment but sit tight because i want to get your reaction. we have reports that the extradition bill would be withdrawn that moved hong kong markets overnight and moments ago it was made official there you see video of lam, the ceo of hong kong it's a special administration region of china and she is announcing to china and hong kongers that the extradition bill has been officially and fully withdrawn. that was one of but not only, but one of the key demands of the protestors that was to with draw that bill which would have said this. if you were convicted of a crime or accused of a crime in hong kong, you could be extradited to mainland china where laws are different and much would agree with much more harsh

that set off the spark of protests here. they demanded that it was temporarily shelved. coming out moments ago and saying that was officially withdrawn. hong kong stocks rising 4% overnight. dow futures up 200 now one more final thing, if we see hong kong calm down and brexit maybe go off the table as it appears like it will, do you think that will add a measure of confidence to our economy or are we separate from that? >> no, i do think a big part of the drag we're seeing in the united states is coming from overseas concerns. so obviously the broader relationship with china but also uncertainty about what's going to happen with brexit and the european union so i think that would provide us a small boost to u.s. growth in the near term. >> small boost maybe negative headlines off the front pages or the papers or the internet whatever we read these days.

it's always a pleasure thanks for the breaking news we appreciate it see you soon. >> all right thank you. dow futures up 200 points right now. a lot of breaking news hong kong, the u.k., the u.s. economy. squawk box is going to pick it all up for you i'll see you tomorrow morning. squawk box begins right now. >> breaking news out of hong kong the economy's government has officially withdrawn the controversial extradition bill that sparked all of the protests that have been going on for months stocks are soaring political crisis in the u.k. deepening. it's been awhile. >> parliament forcing a vote on a no deal brexit prime minister boris johnson is threatening to call a snap election and u.s. stocks pointed to a rebound after yesterday's 285 point drop for the dow we'll get you ready for the trading day on this wednesday, september 4th, 2019 and squawk box begins right now

inc >> live from new york where business never sleeps, this is squawk box >> good morning, everybody welcome to squawk box here on cnbc we are live from the nasdaq market site in times square. i'm becky quick with joe and andrew let's take a look at the u.s. equity futures because breaking news out of hong kong similar pacting things today the futured indicated up s&p futures up by 22 and the nasdaq up by 88 points also the treasury market, you'll see that yields at this point, it looks like the ten year is yielding below 1.5% at 1.498%. 30 year is sitting at 2% exactly, the 2 year is a