with information to navigate life playing to their strengths and ma helping them make better decisions. >> appreciate you joining me >> thank you that does it for the exchange today. we join tyler for power lunch. thank you very much. we'll see you over here in a moment welcome, everybody here is what's new at 2:00 for a tuesday. we are officially 24 hours away from the big fed decision tomorrow will another rate cut reignite this rally what will it do for business in the country? we wait for wework reminds me of brexit it says it will go public by tend of the year we have a special work on wework look who's coming to lunch

oh, yeah, he's got a new book. it's good. lots of business advice. it's called shut up and listen you better shut up and listen because power lunch starts right now. let's take a look where we stand with the markets now the nasdaq and s&p all under pressure but hugging the flat line look at the change there basically minuscule. a matter of basis points one day ahead as the result of the big fed meeting. energy falling after yesterday's huge rally it's the worst performance sector this day down about 2% after yesterday's big games. crude down about 6% after yesterday's big gains.

we'll have more on those moves later. tomorrow at this time we'll be getting the fed's decision on interest rates steve has the details from the latest cnbc fed survey >> thanks very much. pretty good agreement that rate skut on the way. most say we'll get another rate cut and that will come in december that's the bulk of it. amid lower rates, you think it would be by it it comes with incressed probability of recession the 32% probably in the next 12 months is the highest we've had. i have to go back here to 2011 to find a higher number. you can see we have been down

here below 20% that's not the base case the base case is slower growth we did two and a half. here is the estimate 2.2 for 2019 back up for the trend of 2% in 2021 lower growth, higher recession forecast president trump's economic approval rating taking a hit from this group. it's important because this group is generally been positive on the president's handling of the economy. 63, 66%. only twice has it been this low. this is the lowest it's been 41% if you look at the net of google that's a 2% approval that's the lowest of his presidency back do you, kelly, this is one of those things where it's the trade war. it's global economic weakness.

i think the president takes a hit from this group. >> how much of it wads the trade war, do you think? >> a good portion. they are growing in their concern. they say this trade war continues recession in spring is a lot. >> all right steve, thank you, sir. >> it's very narrow trading but rates are down if you look around, interest rate utility stock, to home builders up today. it's back to a somewhat more defensive tone remember that big defensive cyclical rally we saw last week. saudi arabia energy minister said they would be back online by the end of the month. also the other cyclicals last week they are retailers the bank stocks, the industrials. all sort of trending down again.

a lot of this is about pessimism. retail sales were weak in china even if they were great here the bank of america global fund manager, 38% expect the recession. that's the highest recession risk they've had since august 2009 as for the fed, kelly was mentioning this, most traders believe it will be too cut tomorrow but once again try to imply to every one that more rate cuts are not necessarily forthcoming and remember, he tried doing this last time and it was a very, very tough road back to you. >> thank you very much with about 24 hours to go until the fed's decision can chairman powell push markets to new highs. not really sure that's his job david is president of guide stone capital management mike is head of global equity

strategi strategist let's start with the question that bob just posed and give me an answer as to whether you think the country is likely to slip into recession by this time next year, 2020. >> we're a lot closer to recession than we are a year ago. this market is pricing in a recession 12 to 18 mons out. the more likely scenario is that we continue this lower and slower growth. we're likely to continue to decelerate without getting into recession but that's without any type of external risk. >> let me ask the same question to david

what do you think? a possibility, remote, larger, better than 50% there's a recession next year? >> as far as the market is concerned, i don't think it matters. i don't think it matters at all because we've clearly got a declining growth in the economy. declining growth and earnings and i don't think there's any reason for stocks to continue to go up in this environment. whether we have a slow growth environment or a recession, stocks really don't have a reason to go higher. a fed rate cut really doesn't change that fact >> tillman, you touch a lot of consumers every single day in this country you run a lot of different businesses you understand the credit markets. when we asked you in a pre-interview whether there was likely to be a recession in 2020, your answer was not definitely that's different than saying definitely not >> obviously we're in a slow growth environment right now there's not that catalyst to create a recession unemployment is at an all time

low. the markets are still very, very good there's not going be the defaults because you don't have any covenants on the debt. unless there's a maturity and you're in a recession there's going to be no problem in refinancing. you have to have a catalyst. everybody got off over the weekend about the saudi arabia explosions i said they're going to be up and running in a few weeks they're already said that. they're in the going to lie to us here they say it today and oil has gone back the other way. there's not a catalyst did we have a slowdown absolutely i don't see a recession at all next year. >> a lot of these guys are talk about tactical positionings in the market we know things got a little crowded on the defensive side. did we kind of correct it? i think you just have to watch our people piling too far one way or the other >> i think people have not

realized that. we're coming off one year since we hit the september 2018 high the markets moved about three to four percent since what is starting to happen is people want equities, they have nowhere else to turn the economy is starting to slow and they're feeling more insecure what has to stop is defensive exposure or what's working at any price. the idea that price matters again in investing that's going to be a welcome relationship to those value investors in the market. >> they've cut rates once. they say they will cut them again. does that make sense to you? >> i really want to make this point. you're talking to a professional borrower here.

i believe that you should not lower because if we have any kind of a dip, you've lost your bullets. we don't have a problem now. if you keep lowering rates and then we have an issue and you don't have any ammunition, that's when our country can really get in trouble because you don't have any way to fix it somebody who loves to see rates always going lower, i don't know this is the time >> is the fed being bullied into doing this either by the markets or by somebody who lives -- by another guy who knows about borrowing? >> another professional borrower could be we don't know what's going on but there's some friction between the fed and the white house. >> you can say that again. that puts it mildly. >> yeah, yeah. we'll see if we get any tweets on this. >> i expect we will.

david, what about you? do you think a quarter point cut would help you said we have no catalyst for things to move higher but tillman saying we have fo catalyst for a real slowdown and maybe that's causing us to be in this environment >> yeah, i think that's probably where we are i would agree the fed doesn't have a good reason to cut here they've got a dual mandate unplo unemployment and price stability. the fed doesn't really have a reason to cut here the markets want more. p the bottom line is it doesn't matter what we need is growth we need growth to justify stock prices we don't have enough of that

now. >> people forget i'm saying this in the book. when times are really good, we forget they won't be bad again just like when times are bad we forget they will be good again we're on a 12 year run there's also a dip every four or five years it's coming. there's the paddle for your behind coming. build your ballot sheet right now. i jokingly say this all the time and i say it in the book, you eat the weak when times are bad. that's when i grew my net worth is in bad times because i built my balance sheet in the good times. >> i thauought it was fascinatig you bought landry's after the

stock market crashed and it made you a billionaire. >> all my multibillions have been made once i went private. i took advantage opinion take an opportunist and you eat the weak in bad times >> on that note, we move on. thanks very much >> don't forget our full coverage of that decision. we'll get started a little early, 1:55 p.m. eastern time tomorrow christmas is just around the corner the latest expectations for the holiday season we'll talk about that. i can't believe we have a oiuntdown calendar gng don't go anywhere. so servicenow put your workflows in the cloud, huh? mm-hm. your employees must love you. thank you. ah, you could say that.

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this is really disturbing. 98 days to christmas already estimated for hollywood shopping are pouring in. >> wearing a sleeveless dress doesn't matter it's still hurricane season. we're still wearing summer clothes. it's time for the holiday forecasts. today we have a pair of bullish

forecasts from two different consultants groups holiday sales will grow 4.5 to 5% over last year. e commerce pegged the grow 14%. this is over 20818 numbers both are above actual holiday sales rates and both saw actual results below forecast for last holiday season in december 2018 there was this government shutdown and then we had the big market sell off. december retail sales posted the biggest drop since 2009 as measured by the government think will revise further downwards later. the results generated a lot of skepticism who thought the shut down might have impacted data collection ulgt mtimately skewig results. while the forecast is bullish

with what it calls advising to ready for anything we bring up last year's rulgesus because when you look at the forecast they are very far apart. there's still a lot of unanswered questions about what happened in december with the data collection. i feel like it's important when you're looking at these past numbers. >> especially if they're happening this year. >> exactly >> what would you like to ask? >> i guess what's thefirst sig you see when the consumer starts to weaken? >> it's really a good time to pick it because we look at corporate bookings and all the restaurants and hotels, casinos and right now we're on par with last year. last year was exceptional. it was even above the previous year when you stop seeing the corporate party bookings in your

private rooms or retreats or when ever that's when you really start worrying right now it's good. >> very interesting. >> we want to highlight department store stocks. they are falling today led by nordstrom. these stocks have seen a bit of a run up in double digits in september. >> there are several good stocks there's the run up when you're looking for excuse we're getting something. the weather forecast for october could be pretty warm which will be harder to sell the fall

clothes. that's a problem the gas prices, some are saying it's manageable. maybe things will weaken let's sell the stocks now. it's notable so we should bring it to the bureaus ttention >> absolutely. speaking of consumer spending, as we were talking about earlier, you said you don't see a sign of drop off in corporate bookings that's great you're seeing a lot of margin pressure across restaurants. >> it's higher than we even report when you use to watch gasoline,

people would not go out to dinner as much or go to lunch as much everybody is making so much money today that gasoline doesn't have an effect when it only bounces 50 cents to 75 cents. >> that's a big bounce you still don't see an impact? >> not like it used to everybody is making so much money today. that's one of the reasons we haven't been in a recession. >> i used to be a server at applebees and we used to pay attention to the gas prices ie cross the street when prices go up we would get less >> there's some state where is the prices are higher, california, illinois as you look and we're talking off break there as you look and segment your business and you have restaurants and hospitality properties that go across the spectrum, are the high end properties in the thriving metro areas holding up better than the more middle market properties in

tourist areas or the suburbs >> first off the tourist areas are always great because i have so many tourism locations even in '08, '09 like b bubba gump at time square was never hurt the suburban locations hurt. those are the people trying to make their mortgage. my high ends are staying up there. their numbers are really good. it's white suburban america's consumers that tells the whole story. >> what are you seeing there now? >> it's just kind of hanging in there. there's no upwards movement at all. you have to remember we're on this great run you can't have positive sales 12 years in a row at some point there is a leveling off that's what's happened because the cost of entry we

have too many seats in the market >> in the restaurant market. >> everything. there's cranes everywhere. look at the apartments built here in new york look at the steel retail space that's built developers have to build >> sometimes they overbuild. >> all the time. that can cause the cycle >> we'll be back with you. if the holiday season is strong, that is good news for fedex. is now the time the buy? we'll look at that plus the latest pieces being arranged in the streaming wars including a new entry from our parent company, comcast that and much more coming up on power lunch. for farmers here, this is our life's work. but when a recall happens, perfectly good food goes to waste. now, we've got away around that. looks good. we're on target. blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf.

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♪ not owing anyone anything is the best feeling in the world, i cannot stop smiling about it ♪ fedex gearing up to report earnings after the bell today. heading in slightly lower on the day. tracking for its best monthly gain since january senior research analyst joins us now. good to talk to you. we mentioned a good month but

the stock has been on the defensive down by one third over the past year. i know you've trend your forecast for what you're expecting to hear tonight from fedex. what's driving that and what do you think is already baked into the stock here >> thanks very much for having me on. good questions we lowered our forecast to account for the fact that there are obviously having some issues with respect to getting back on track in the international market a and b there's some discussion relative to the global economy. i think those things are weighing on numbers and we thought being at 301 made more sense than being higher. we were at 308 so we were below consensus any way. i think the market is expecting them to miss that 315 consensus estimate tonight and then to guy lower for the full year. >> okay. you feel like the market is already anticipating relatively

soft guidance. is it fully a macro story in terms of the global economy that fedex is dealing with? >> no. i think part of it is that i think the other part is they fired out amazon as the client earlier this year both ground and express. that's a loss of about a billion dollars worth of revenue for a 70 billion dollar company it's not a big hit on the other hand they have to replace the revenue. we expect that will happen in short order. we think the amazon business was a low margin like low single digit margin business. most of their business is kind of higher margin in the double digit range. you we place low margin with high margin business they should recoup that revenue fairly rapidly but we're expecting this to be a transition for lack of a better word. >> if you have relatively low expectations the valuation

appears very low relative to its history. what does that mean for the stock in your case >> yeah, that's a good question. the stock almost always sells off the day after the earnings report then it starts to recover. we expect a repeat of that, a. b, we have a price target around $200 to share. obviously at one point you go back a couple of years before the whole tnt thing imploded they've just had a bunch of issues they tried to recover. we think fiscal 2020 so kind of the sec half of next year gets better and things recover from there. look, it's a good company. great industry not a lot of competition at this point in time. just some stumbles that they have to recover from >> sure. i'm sure a lot of fedex investors would

gladly take a trip to 200 at this point appreciate it. >> thanks for having me. >> for more trading nation head to our website or follow us on twitt twitter. back to you. ahead on power lunch, wework gets public debut. we have the detail next. nbc spreads its wings or its feathers the company officially announ announcing its new streaming service. how does it stack up in the streaming wars and purdue pharma in bankruptcy court. they begin proceedings after agreeing to resolve thousands of lawsuits

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welcome back here is your cnbc news update at this hour. deputy white house press secretary hogan said president trump is being cautious when it comes to blaming iran for the weekend attack on the saudi arabia oil field >> if we were banging the gong today about iran being the culprit definitively without presenting the case to the american people, every one would say it's a warmonger the president is taking this cloor e clear eyed >> the u.s. is filing a lawsuit against edward snowden the government claims is in violation of the nondisclosure agreement he signed with both agencies it's seeking to recover all the proceeds earned by him an american cancer survivor had succeeded in her quest to

swim across the english channel four times in a row. sarah thomas completed it after more than 54 hours of swimming she was cheered by a small crowd as she arrived congratulations to her you're up to date. back to you. the oil market is closing for the day. it's been another volatile session. indicate rogers has the la katee latest >> that's right. this after the saudi minister said in a press conference that the oil supply will be fully back online by the end of september and noted that half of the oil production that was taken offline has already been restored still, analysts say consumers could be paying an average of 15 to 20 cents more after this weekend's attack here in the u.s. aaa reported that gasoline prices jumped 3 cents per gallon to 2.59

if there's a military conflict oil and gas prices could go even higher back over to you guys. after a series of set backs on the road to going public, wework is slamming the brakes on its highly anticipated ipo leslie picker has the details. >> wework is now we wait sources saying there's no plan to start an ipo road show to drum up demand for the offering. the company says it still expects today baa this year. rarely do you see a deal bathed in this much controversy investors balked at what they deem too lofty of a valuation. former twitter coo spoke about the valuation issue. >> i think that when investors took a step back and looked at you're paying for a huge amount of growth at wework which it is delivering on but it looks like

they are pouring money into the funnel and not getting it out in terms of returns, yeah >> failed governance the venture investor spoke about how silicon valley enabled many of their problems. >> i think it allows us to see technology investing in private companies for what it is which is a popularity contest at the end of the day when there's so much money to be put to work by so many different pools of capital founders can pick the people who are willing to give them exactly what they want >> yet one source close to the deal said that all this negativity would reverse itself in time. that's what weworks advisers are hoping asking at what point does the deal become so bad that it's good stick around

joining us now is dan freemac. he's a business editor is this a failure of the company or a failure of the ipo process as practiced by the company? >> i think it's both the reason this one got into trouble in the first place was some of the really weird stuff around this. some of the payments the company made to the ceo. thi these are things they should have worked to clean up before we saw the s1. as for the ipo process, i don't think it's a failure of the process. there's some calendar issues here they kind of have to wait until the middle of october. >> i don't remember one that swooned as quickly as this one there's the small matter of the

two billion tldollar trailing ls and $47 billion in lease obligations. something you write about in your book about knowing what is in your leases this sounds like a real mill stone around what ultimately could be a public company. >> for me, yeah. not my book. somebody else's book >> tillman's book. >> good. i was thrilled i had written a book >> tillman was thrilled he had written a book >> go ahead. >> the argument for wework is unlike things uber or lyft which are asset light. we work asset heavy. their argument is we have a backlog of four billion for contracts.

>> tillman, you have thought on this >> i definitely have a thought on this. first off what he said about they had different problems with their process and clean up they needed to do but they are the poster child for something that has chapped me forever and we were so interested in buying growth that we forgot about value and making money i'm a sticks and bricks guy that had to do it one by one by one the whole technology balloon has always, i knew it was going to come back. you knee see uber you see lyft all the hype only revenue and no profit everything at our kind of companies are you got to make a profit they are signing leases all over the country that they have huge liabilities on and if they can't fill up, they've got lots of

issues they are working their tails off. they have a great company but they're an issue you have to make money >> $2 billion loss >> wall street has finally decided you're going to have to make money or we're not going to buy your stock when the people that get into the private placements can't get out when the company goes public that they of paver paid, it's a horrible backlash. it's something that's been coming to tech companies for years and years. they get what they deserve you have to make money >> can i just respond to that real quick >> if you look, i thought there was a thing of beyond meat beyond meat doesn't make money the markets love it. if you look at the ones valued at ten billion or more, most of which were losing money when they went public, most of those are worth more today than in the private markets.

uber, lyft, wework, these are specific issues. i don't think it's an indictment on how the market is viewing the overall technologies >> i'm going to leave it there you had a public company for long time. >> 18 years. >> then you took it private. was that the smartest move >> best move it gave me the opportunity but we have talked about this. whn y when you don't have do run a company quarter to quarter, i can do things and gamble that i never had to do when i was public >> kryou never could have done. >> i could not have done i grew my multi-billion net worth as a private company and not public for 18 years. there's a news alert on california and vehicle emissions. eamon has the story.

>> routeeuters reporting the trp administration will strip california of its authority to issue lower vehicle emissions standards. remember there's a fight that's been going on between the trump administration and the state of california over vehicle emissions. the state of california has been moving forward with auto makers in order to concoct a set of standards that are higher than what the trump administration would like the see in place nationally the trump administration moving to roll back some of the obama era emission standards now the two news organizations are reporting that the administration is going to strip california of its ability to create those higher standards. this will end up in the courts and california will fight this out with the federal government. that's the announcement we're expecting tomorrow according to those two news organizations a senior official confirming the news back over to you

thank you very much. we have another news alert >> we are just wrapping up the conference here in saudi arabia. really saudi arabia's big three of oil the energy minister. we have the ceo and heard from the company's chairman the new chairman about 11 million barrels will be restored by the end of september. that's directly in line with what the energy minister said over the last 30 minutes there's a lot of questions about what will happen next in terms of the investigation into what happened with these terror attacks. the oil minister telling an

audience that they still don't know who was behind the attacks even though the president of the yiet a united states and secretary of state place the blame on tehran. they talked about how big these fires were they were talking about ten fires in less than seven hours they were able to put out. i had chance to ask in this press conference and asked the chairman about that. how can you ensure international investors this is company that's safe to invest in and how can you assure investors they can put their money inside saudi arabia take a listen to what he had to say. >> as it was demonstrated it's resilient in a matter of 48 hours we went back to operations by the end of september as

mentioned. we will restore the whole capacity if you want to put all of these in perspective, this is one of the most resilient companies in oil business >> all right we've obviously lost connection. she brings us the latest on the developments including they expect the full production to be back online by the end of the month. >> oil prices slump this afternoon. after the break, netflix is trying the make something out of a show about nothing betting big bucks on the big bang and nbc is proud as a peacock over its new streaming service. a ton of streaming stories and we're full stream ahead when power lunch returns.

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the streaming wars are heating up comcast releasing details on i and hbo max buying the rights to a beloved sitcom julia boorstin has more. >> nbc universal streaming service called peacock will launch in april with more than 15,000 hours of news, sports, a library of films and series, as well as new originals. now, there's no official word on pricing for this ad-supported service, but it is expected to be included in paid tv bundles for no additional fee. peacock will be the exclusive streaming home of "the office" as well as "parks and recreation," "saturday night live," among others, and there will be reboots, including one of "saved by the bell. dreamworks and universal animation will make new films for the service,including a movie library such as e.t., jaws, and "fast & furious. this announcement is just the latest in the content wars as streaming services prepare to

take on netflix. also today, at&t announced a deal for "the big bang theory" after its 12-year run on cbs sources tell me warner media is paying about $500,000 for five years of domestic streaming rights and another $100 million to air the show on tbs all of this follows netflix announcing just yesterday that it secured global streaming rights to seinfeld it's reportedly paying more than $500 million so, it's really a land grab for content right now, tyler >> all right julia, thank you very much tillman, you know, you own an nba franchise, you own hundreds of restaurants around the country. we've talked about this before the streaming phenomenon means that more people, i think, spend more time staying at home in front of their tv sets than going out and grabbing dinner and a movie, maybe at one of your restaurants, maybe they're staying at home and doing that instead of going to see the

rockettes. is streaming a competitor of yours, in a way? >> they are definitely a competitor and now the home delivery, you've thrown that into it >> which you've invested in recently >> and that's a whole issue, because nobody makes -- another business plan that doesn't work. we pay 25% to the different delivery companies that's our margin. and what's happened is, a lot of restaurants have decided, wait, i'm delivering this and i'm getting that top line like the tech companies, but there's no profit at the bottom and so it's an issue, because people do want to stay home. there's so much better entertainment on all of these at-home streaming services than you get at the movie theater today, let's face it >> and what's it mean for the rockettes. there's been a little bit of talk about nfl stadiums this fall, because the ratings are kind of hanging in there, but the stadiums are showing a little bit of erosion in terms of people showing up what about for the nba

>> i think that the nba, what happened in this off-season, and how exciting it's going to be and how competitive it is, but you are fighting for the entertainment dollar and i know that if i don't put a good product out there every year and i'm one of the winners, that those people will leave me and stay home and watch netflix. so i've got to -- to keep butts in the seats, you better be successful >> and as you said, the nba has really created interest. all of the player movement, including your team, chris paul moving on and you've got some new players coming in. the west is going to be highly competitive. >> this is really exciting for the nba. and forget being an nba owner. as a fan, to think about the lakers this year, with their moves, the clippers and their moves. utah, portland, how good denver is the pelicans, okay all of a sudden the pelicans, where nobody wanted to come see them, it's going to be a super sellout. and of course, the rockets

bringing in, having two of the last three mvps. and you have the east, as exciting as it is with philly and detroit. boston and toronto >> but here's the big -- the butt michael jordan selling a piece of the hornets is he monetizing this huge valuation and increase you've seen over past decade, kind of like any business owner would, saying, maybe this is a good time to get some cash out of this business? >> well, i can give you a fact there's never been a major sports team sell for less, okay? so we don't -- >> but people used to say housing prices in this country have never fallen, and i heard that so many times before '07, '08. >> and you know what, vegas had never had a recession, either. ever ever, in 60 years, it never had a recession. so could it happen yes. because we did jump from all of a sudden teams that were 7, 8, $900 million i looked at the hawks a couple of years before i bought the rockets. the hawks sold for 750, 800. and ballmer pays $2 billion,

which we thought he had lost his mind for the clippers. and then there was a really crazy guy then who went and paid $2.2 billion for the rockets so i wouldn't trade it for anything >> you had a sniff at the rockets when they were below $100 million, right? >> 25 years ago, i tried to buy tro the rockets. i got outed by $80 million. 25 years later, i buy the team for $2.2 billion i wouldn't trade it for anything >> so look at what people are paying for some of these sitcom series, $500 million for "friends," for "big bang theory." what's the optimistic view for sports teams who's going to be paying up for all of this? >> everybody it's content everything is content. we know that and you know what, sports is religion sports is religion everybody is going tuo always py for it >> we got an hour with tillman it's never enough. for more on tillman's new book and his advice for young

entrepreneurs, a great interview with brian sullivan is up on cnbc.com right now but don't go anywhere just yet, because more with tillman coming up on "power lunch." liberty mutual customizes your car insurance,

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all righty tilman fertitta out with a new book today there it is. it's called "shut up and listen." if you had two pieces of advice for entrepreneurs critical for success, what would it be? >> i'll give you more than two real quick know what you know and know what you don't know liquidity is everything. everybody thinks they have enough you never do take "no" out of your damned vocabulary and you're all in the hospitality business, no matter what business your in. 95/5 rule. 95% ofl everything is right. look for the 5 -- >> you say never say "no" to a customer is that practical? >> i breach it in my business. >> i know you do >> here's an example you're on a business trip, it's

11:02, you get off phone, i want to order breakfast i'm sorry, sir, we don't serve breakfast anymore. i don't want an eggs benedict, throw a couple of scrambled eggs in a pan no, sir, we can't do that. breakfast is over. >> and you lost a customer >> good to see you good luck to the rockets this year >> thanks for watching "power lunch. "closing bell" starts right now. >> welcome to the "closing bell," everyone. i'm wilfred frost here at the corning post today that stock is down a healthy 7%. they've lowered their full-year guidance for broader demand. markets have opened lower. we've got 59 minutes left of trade. >> i'm sara eisen. let's look at what is driving the action in this final hour. oil prices sinking after saudi arabia says production will be fully back online by the end of the month. the president claims that a trade deal could come soon with meetings scheduled for this week in washington and a spike overnight in yields in the repo market put investors on edge ahead of a