sandra: good morning. breaking news this morning. about 10 of nader trading with chinese stocks moving lower in u.s. futures moving higher. u.s. stock market futures moved higher about the opening bell just as they did yesterday and stocks closed the day down with deep losses. nicole: china's rate cut yesterday did little to calm nerves that the qinghai dropping another 1.3% overnight. in japan the nikkei bounced back from a 4% loss yesterday. lauren: stocks in europe yesterday also opening sharply

lower. the ftse down 78-point, the cac down 64, dax down 145. nicole: oil prices little changed overnight but still hovering at a six-year low. 3938. i like to talk about with transocean today. lauren: i want to talk about gold. gold down about $1137. nicole: looking like the euro in the u.k. from weaker again. the u.s. dollar. lauren: treasury prices starting flag now at 2.08%. good morning, everybody. i am lauren simonetti joined by nicole petallides. you are watching "fbn:am," your first look at the latest breaking news and what you can expect for your day ahead. nicole: investors may be

reaching further and acid pills again today. stock index futures pointed to a solid game this morning when trading resumes at 9:00 a.m. here in the states. stocks reached the early games sharply to the downside. tuesday's selloff that the s&p 500 and correction territory, joining the taliban nasdaq as well. what can we expect? a great cast for you here this morning. gary smith, group president, also fox news contributor joining us on the television this morning. what do you expect dean? >> i've been doing this for 30 years now. the other day on twitter ]-right-bracket never seen a market they does. you normally go through times where this is like 872,008. the amount of volatility day-to-day company you have just

got to say we are passive. right now where we get those plus 50 minus 50 days on the dow. short answer, i think we have more volatility at least for another week. we could see plus 200, plus 300, minus 300 swings in and nothing of it. lauren: if we are seeing that right now. u.s. futures took a swing to the upside. dow futures are probably 220 points. that is volatility as you define it. how are we going to close is that everybody wants to know. >> i'll tell you what appeared there what appeared to us and good works and i must give props to sentiment trader.com. they came up with an interesting analysis which is your answer. we've seen seven times what the market has been down for consecutive days more than 1%.

each of those to market one year later has been up 30%. if we can't do modern market, that wasn't true in the 30s by the way. the last 50 years or so this is probably near a bottom and people started poking around and buying, a good time. nicole: i have 10 seconds. what if they do? trade for the fed will hold off. they are scared of the market and disrupting things. nicole: we vitiate it. 203 points for the dow futures this morning. trade for all life on the federal rate earth. the fed holds its annual retreat this weekend kicks off tomorrow as turmoil box global stock markets. the fed chair will not be attending the meeting does come over when and if the fed raises

interest rates. the found water bridge water associate is the fed's next big move will be to loosen monetary policy, not tighten it. meanwhile, nobel prize-winning economist, robert shiller, says investors should keep their seatbelts fastened. >> i think people are generally anxious about their future and on top of that we had turmoil in the last 10 days or so. but turmoil has a different edge to it. it isn't over yet. >> the home price index these signs of a bubble forming in the housing. let's take a look at the global markets. asian markets finished the day mixed. i couldn't prevent chinese stocks from falling for a fifth day. the shanghai composite down

1.2%. the nikkei use off with a gain of 3%. the hang seng and the cost be remixed. lauren: in europe, down arrows across the board scene one and one quarter% decline in london and france and germany. nicole: over the lack six trading days we lost 1878 dow points. today looking at 200 dow points. lauren: they are trying. we will show you commodities. oil is still below $40 a barrel but it is coming up a bit after yesterday's big rally. 3936 is your quote of the moment. nicole: 1137. almost flat for gold. lauren: her and see how the u.s. dollar is trading against the key currencies. you see some weakness, the pound and the japanese yen.

nicole: what is interesting is the 10 year yields. 2.3%. they went down below 2%. lauren: that was monday. now it's coming back a little bit. it's been a wild ride as anyone who knows who has invested in the stock market. it's been a while since the worsening economic slowdown. as policymakers meet next month while a possible hike in u.s. interest rates be on the table. stephen the shadow moves so security joins us with his thoughts. good morning. >> in mourning. lauren: we have the fed kicking things off. what do you think the messages from the fed? >> the message has been one very consisting of people have misread it. monetary policy is data dependent on a number of other fact yours as well.

the reality is the economy also is growing, it's growing at 2% rate, we don't have any evidence of any pickup in inflation or any pickup in wages sustainable. against the backdrop the federal reserve will take the opportunity to punt and wait to see additional data before they change monetary policy. nicole: this is trained by it. but are they waiting for? everybody's been waiting for the rate hike. global demand is waning but that market volatility. at what point do you think they will make the move? >> micro to spend 2016 for quite some period of time. i don't see preconditions in place. the important precondition is the ballot sheet adjustments have been completed and our analysis shows the banking industry ballot sheet won't be completely adjusted until the

second quarter 2016 and that's the necessary conditions. success in conditions are that you have evidence the economy is gaining momentum about the potential new start to change the direction in terms of our inflation is going. and the potential for a global slowdown taking place to importing price deflation. the federal reserve has the opportunity and should take the opportunity to sit back and wait to see whether they get weather forecast has been telling them, which is a stronger economy and inflation and they don't have evidence it is correct. that is than the forecast for the past couple years and it's been incorrect. the economy has been stuck in the low inflation in the low inflation flight path for several years is looking for an uptick that hasn't happened. it will come through with the

numbers this morning will come through in terms of what happens with oil. he said yourself we were below $40 a barrel and that's an indication we have a global slowdown in economic activity that's very important to take into consideration. lauren: stephen ricchiuto, thank you for watching. we appreciate your time. nicole: a journalist for the spanish-language network univision removed from donald trump's news conference in iowa. this after jorge rambo's a mexican-american begin asking a question about trump's immigration plan. >> who is next. excuse me, save down. you were called. sit down, sit down. go ahead. you haven't been called. go back to univision. [inaudible]

sit down, please. you are called. nicole: tromp remaining calm. he pointed to a reporter in front of them and jorge ramos jumped out. you can see ramos was escorted out of the news can't use by security officer. he was later read that it had a lengthy argument with donald trump. the republican front runners to univision after the network dropped this universe following his controversial comment against mexican immigrants. they did have words afterwards as well. lauren: trump is always in the news, nicole. the u.s. department of agriculture department of agriculture says farm income will decline just over $50 billion. the lowest level in nine years.

the slump in corn prices. a bumper crop of corn as well as soy blintzes resulting in depressed prices for those two commodities. nicole: drivers could soon see relief at the gasoline pump in the midwest. bp has restarted a unit at its refinery outside of chicago. breakdown artist is cost to jump in the gasoline prices across the net is. leaky pipes at the refinery costs wholesale gasoline prices to rise by 80 cents a gallon and that's according to gas buddy.com. prices should ease between 20 cents and 50 cents a gallon in the coming weeks and that will be welcomed relief. lauren: c.e. down another two pennies. putting it at 255 a gallon. sinking energy prices hammering

the world's biggest oil drilling. she drilling. shares of transocean plunging after the company announcing plans to cancel due to impatience. transocean also saying the deteriorating off shore drilling market may cause right down of $2 billion. shares of transocean have fallen nearly 70% in the past year. lauren: it's just so interesting everybody invest in energy stocks. they may see david m. chess at the habit of returns on the contrary. oil trading under the $40 a barrel mark this morning. phil flynn, senior market analyst, expert on oil, fox business contributor. what is the latest? >> good morning. the cuts from transocean will just be the tip of the iceberg. this entire industry, the stocks are missing the target set by analysts.

people think the low prices are always a good thing. this could be a significant hit to economic wealth because the energy industry has provided a boost to the industry. we see prices trying to rebound a little bit and the biggest news they heard overnight with the shocking drawdown in oil supply from the american petroleum institute. they reported over 7 million barrels struck down in supply and that raised a lot of eyebrows. it could be because they don't have that tropical storm out there. we could've seen delays and imports. it could've been pipeline issues coming out of canada. today that could be a turnaround situation than the energy information if it shows a similar drawdown. >> as he said this was after the price of crude oil go up a little bit.

now pointing higher we don't know where the direction is for crude prices at this moment. >> we don't. at the end of the day it will be the end of the day because really we are following the stock market. we were knocking on the door of $30 a barrel. it is showing a chance to recover the economy. when we saw the last hour salute in the u.s. stock market oil prices. stronger demand, smarter supply or a slowing global economy. at the end of the day you will see what happens with stocks. lauren: and watching the $40 mark. phil flynn, thank you for the glance into oil. lauren: coming up, donald trump once again making waves on the campaign trail. >> you haven't been called. go back to univision. lauren: we will tell you why

trump had to univision her kicked out of his news conference. china must have whiplash after another wild ride for investors they are. a live report from beijing. in the u.s. come the the u.s., stock future showing triple digit gains down almost 200 points right now. you are watching "fbn:am," the very first look at morning market and breaking news. ♪ [announcer:] what if one stalk of broccoli could protect you from cancer? what if one push up could prevent heart disease? [man grunts] one wishful thinking, right? but there is one step you can take to help prevent

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trantor breaking news this morning. china stocks moving lower once again in u.s. stock index future showing gains. another day ahead. u.s. stock market futures right now moving higher ahead of the opening bell like they did yesterday and yet stocks close with losses on heavy volume. lauren: china's rate cut yesterday did little to calm nerves with the shanghai dropping another 1.3%. in japan, the nikkei to be back after six days of losses in nine included a 4% loss yesterday. 3%. nicole: and europe taking a cue from china and wall street yesterday. the ftse, cac and dax all down one percentage in the dax and bear market territory. lauren: oil prices watching for $40 a barrel. right now and 3926, down just a bit.

nicole: gold 1135, not doing too much down one quarter of 1%. lauren: a dollar little changed over the night. a little bit of weakness for the euro but they have been doing very well. lauren: let's take a look at deal just picked out. 2.09% of the 10 year yield spread now. nicole: i am nicole petallides joined by lauren simonetti. welcome to "fbn:am" come your first look at the latest breaking news, what to expect for the day ahead. we are getting you ready. lauren: we are absolutely. asian markets finished the day mix but china site continued into day number five pick for details that go to reporter tracey chang life in beijing. tracey is a reporter for chinese state television. good morning, tracey. reporter: good morning, boring.

the wall braid swung wildly, and china they finished the day about 1.3% after beijing new restrictions for trading on a futures exchange. new-line markets lackluster performance brought the hang seng down about 1.5% of mortgages widely down after policy makers launched an investigation into several shirts colors. in tokyo, japanese stocks staged combat adding the day more than 3%. analysts say the worst is not over. the cost be rebounded up about 2.6% after rising to a two-week high. nicole: will get some r. marketing site in the market turmoil we have seen. we had the senior market analyst in one in this morning. you are already watching trading under way. what are you watching right now?

>> obviously a lot of volatility in the market in china overnight. the ppos they did make an attempt to stabilize the route and clearly they haven't done enough to really put the investors that he is. we've seen some more assets this morning that they've inject some liquidity into the market short-term liquidity operations. we will see if this has an impact as well. still down 1.5%. clearly a lot right now and fear are still driving trade. lauren: some of the other markets were decoupling of that from china. here in the u.s. you could make the argument on the closing bell. your thoughts on separating our uncoupling what's going on for the other big market. >> i think i'm with you. you have to look at europe this

morning to see the decoupling going on. the late selloff in the u.s. last night again is a strong suggestion that people are still driven by china. maybe a symmetry sand of the week that jackson hole symposium we will hear about from policymakers. that could mean the focus shifts away from china onto the fed. we may see more training. nicole: end of the year, big picture for folks. higher, lower or flat, quickly. >> i think will end up higher. nicole: let them go right now for all of those folks that the ira. lauren: again, a look at global markets. fasten your seatbelt again. asian markets finishing the day myths. they could not following and

going back 3% today. next action in asia. europe right now under pressure ahead of some big economic news here in the states. right now the ftse, cac and dax down 1%. of 206 points. since this began, august 17, $2 trillion in market value. nicole has been wiped out of u.s. stocks. nicole: everybody keeps asking. expect the volatility to stay here. 40 is a key factor. lauren: let's show you gold trading to the downside today by almost $2 they want houston 186 boxes your quote. nicole: on that note, here we

go. the euro, the u.k. pound and the japanese and all weaker. lauren: yields on the 10 year treasury 2.09%. nicole: we have a big story. a journalist with the spanish-language network univision removed from donald trump's news conference in iowa after jorge ramos, a mexican-american begin asking questions about trump's immigration plan. >> who is next? yeah, please. [inaudible] >> sit down. you were called. go ahead. [inaudible] >> know you more. you haven't been called. go back to univision. [inaudible [inaudible] >> sit down, please. you were called.

nicole: ramos is escorted out by an officer. ramos jumped up to interject. they did have a lengthy argument indeed any talk about how it's going into 11 million the grand and trump said very humanely. the republican front runner recently sued univision after the network drop as miss universe pageant cause of trend following has comments against mexican immigrants. there's her detention as you can imagine. lauren: billionaire investor mark cuban behind all of the stockmarket mayhem. it is not china. >> there's so many different algorithms competing that they are terminator rise of the machine. lauren: we will tell you what else he had to say about the volatile markets.

u.s. stock market futures once again with big gains at the opening bell. do you need your neck brace? stay tuned to fox business. and finally a story of a 12-year-old boy, history and a $1.5 million painting. what happened? nicole: what happened? i feel badly. your first look at morning markets and breaking news. ♪

lauren: good morning, everybody. asian markets finishing the day mix. an interest rate cut could not prevent chinese stocks firm fined for fake bake at the shanghai composite fell another 1%. japan's nikkei bouncing back to gain more than 3% today. nicole: let's look at where europe stocks are trading right now. the ftse and 84, it lost 1.4%. the cac down 1.3%. lauren: overseas markets affecting you in the u.s. dow futures higher by 197

points. s&p up 25, nasdaq up almost 50 points. nicole: vidal has lost almost 1800 points during this turmoil. lauren: gold trading up $1134. to the downside by almost $4. lauren: the euro weaker against the greenback as the japanese yen. the dollar strong today. lauren: will show you the yield on the 10 year treasury up to 10.08%. nicole: something everybody is talking about. down 200 points. a new warning about high frequency trading as investors deal with global market volatility we have billionaire investor dallas mavericks mark cuban on risk and reward yesterday. he talked about computer-based rapid trading. >> there are multiple algorithms that have decided to sell a

modest different aspect which has triggered a brawl perez owns which has triggered other algorithms as a cascade effect. there is no human intervention. nicole: we saw heavy volume, too. how are the regular people supposed to fail? cuban said he supports donald trump's tax plan against hedge funds as well. trump has said he would've from the tax cut can make hedge fund managers pay their fair share. one actually went in to have a chat with donald trump. lauren: look at this video because they know you have boys. this is the video everybody's talking about this morning. i told her roy tripping and falling, leaving a big gash in a painting worth $1.5 million are busy amid taiwan.

the painting is called flowers. is 350 years old from the 17th century and it's an oil candidate but a look at tora. that's what it looks like before. fortunately the painting is insured and the boy in the family do not have to pay for the restoration costs. the organizers said the boy was very nervous. he should not be blamed for the accident. also, he managed somehow to not spell a straight. nicole: that may pick up my job. first of all, my kids would do exactly that. get some duct tape. if you can't if you can't fix it, decade. lauren: i want to know how much that restoration costs. that is why you can't bring food and drink continues the hands. nicole: donald trump making waves spread on the campaign

trail. >> you haven't been called. go back to univision. nicole: not your turn. we will tell you what trump had an innovation anchor tossed out of his. a live report from tracey chang in beijing. u.s. stock futures showing triple digit gains up 190 points exactly after a late day selloff. you're watching "fbn:am," your first look at morning markets and all the breaking news. keep it here.

lauren: breaking news this morning. a volatile nana trading with

chinese stocks to the downside. in the u.s. commit futures moving higher. u.s. stock market futures at the head the opening bell. the rep yesterday near stocks closed that day was sharp losses. right now dow futures up 191 points. nicole: we were up 408 of 200. that did little to calm investors. shanghai composite dropping another 1.3%. they nikkei bounced back a bit from a 4% loss yesterday. lauren: in europe stocks taking a cue from china and wall street opening sharply lower. you can see london stocks down 1.3%. the same percentage loss in france and germany. lauren: little changed over night hovering around six-year lows. 3937. lauren: precious metals have been under pressure.

gold sought on $3.60. $1134 per ounce. nicole: such an story as well. japanese weaker against the u.s. dollar today. lauren: treasury prices starting the day relatively flat with the yield on the 10 year treasury 2.08%. good morning, everybody. welcome to "fbn:am" come your first look at what's moving in today's markets, latest breaking news and what to expect a day ahead. nicole: the shanghai composite for the fake day in a row. we did see some ounce bag between negative territory. business reporter tracey chang life in beijing. tracey is a reporter for chinese state television. reporter: good morning, nicole. chinese markets cut interest rates in china.

composites fail to hold on to earlier gains benching the day about 1.3% after beijing announced in a restriction for trading on the featuring backs. the lackluster performance the hang seng down about 1.5%. mortgage is done after policy makers launch an investigation into several short-sellers. japanese stock shave very big comebacks in more than 3%. exporters are covering big time. in south korea also gaining about 2.6% as they rose to a two-week high. back to you, nicole. lauren: thank you for the inside. if you want more on the recent market turmoil, a global head of financial market researcher grover bank in london. tracey was just telling us how

the rest of asia fare today. wise and interest rate cut moving the needle. why are we seeing more out there as yesterday and today. >> yesterday we saw the ex post rationalization cap which i'm good at and keep behind the desk. the market was disappointed on monday and now a day later they feel the central bank may not be fully out there. by doing a great reserve ratio requirement cut and interest rate cut, seems to be focused on the broader economy. that's another factor. a lot of uncertainty with people didn't want to push it any further overnight. nicole: this is nicole

petallides. can you put on one of your many caps you have on the desk there. what are people saying about u.s. trading? >> i'll put on my goodness badness cap. i heard a lot about that yesterday. it has something to do with it. if you are tracking features that give you an inside into the market again or if you look at the equity market, the smooth which would've been the goodness badness. it was people facing all this uncertainty of not wanting to hold positions overnight. lauren: jan, thank you for your perspective. we appreciate it. nicole: dow futures up 170 points. all eyes on the federal reserve. hold an annual retreat in jackson hole. we hole. we won't see janet yellen there. as i said come in the fed chair

won't be there, but the meeting comes amid speculation of when the fed will raise interest rates. great value, founder of bridgewater associates says the next big move will be to loosen monetary policy. meanwhile, robert shiller says investors should keep your seatbelts fastened. >> i think people are generally anxious about their future and on top of that would have turmoil over the last 10 days or so and the turmoil has a different edge to it. it isn't over yet. nicole: it's not over yet. schiller has developed the home price index. he says he sees signs forming in the housing market. we got some good housing numbers.

lauren: especially in the home is. a journalist with the spanish-language network univision removed from donald trump's news conference in iowa after jorge ramos in a mexican-american began asking a question about trump's immigration plan. take a listen. >> who is next? yeah, please. sit down. you were called. sit down. go ahead. [inaudible] no you don't. you haven't been called. go back to univision. go ahead. [inaudible] go ahead. sit down, please. you were called. lauren: trump gave a glance and

then escorted ramos now. he was let back in an argument come a long one. different runner suit innovation after the network drop his miss universe pageant following his controversial comment against mexican immigrants. donald trump entered the world stage. nicole: everybody talks about his temperament. he remained quite call mayor. good news, bad news for the u.s. relief at the palm. the chicago area gas refinery fire in the reopened. the bad news, income expected to saying things to debate saw been commodities. asia back and forth on the composite index. showing early gains of 185 for the dow futures. right now the s&p and nasdaq up over 1% as well.

you are watching "fbn:am," your very first look at morning markets, breaking news. lauren simonetti and i are here covering that, getting you ready for another day. ♪

nicole: welcome back, everybody. global markets looking at asia. and interest rate cut in china couldn't prevent chinese stats are telling us that they pay the shanghai composite down 1.3% think the hang seng lower by 1.3%. the nikkei up more than 3% bouncing back from yesterday.

nicole: they still have more room to cut if they want. you see the ftse down 1.54% to the downside. icac commit dax and ftse down 1.5%. lauren: u.s. stock market futures up 171 points. nasdaq by 41-point. we've lost over 1800 dow point since the turmoil began. it may be a tough year for farmers. farm income will decline 36% to just over $58 billion. that would be the lowest level in nine years. the drop reflects the weakness in dairy and hog markets as well as a slump in corn prices. a bumper crop of corn and soybeans is expected this fall to resulting depress prices for

those commodities as well. transfer drivers everywhere but particularly in the midwest can see some relief at the gas pump. bp restarting a unit outside of chicago. a breakdown on the state caused a job in gasoline prices across the midwest. has been stayed, some of those nations selling under two bucks a gallon. not helping folks in the midwest. the refinery caused wholesale gas prices to rise to 80 cents per gallon. prices should ease between 20 cents and 50 cents per gallon in the coming weeks. that is good news and guess who we have to talk more about it. phil flynn, senior marketing off at price interest group in a fox news contributor. >> they are celebrating and in

fact the attorney general lisa matt again from a manual trying to take credit because they sent a letter yesterday demanding answers suddenly the refinery was fixed. because they were politicians that take profits for fixing the refinery. they're really kind of hurt our economy because people were angry. they didn't know why prices are going up and it raises the question about refining capacity. we have the concert did supply in illinois. one refinery serves 56% of the region and goes down and it's difficult to replace. nicole: a lot of people invested in energy and hit hard, does one of their fears that the energy companies would start cutting

dividend. do you think that is something front of them are and the folks invested in energy, they turn? >> yes, very front and center. another report a few minutes ago that oil will shut down oil field in the north sea. a major pullback to the energy industry. will also hear of companies while the stock target and where they expect to be it may have to make some major decisions. they have to cut back a cost dramatically, layoffs, canceling projects. i'm afraid energy companies will be erased. nicole: phil flynn, thank you for your time this morning. have a good day. we will be right back, everybody two boyfriends. three jobs.

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nicole: six tough days of training. the dow over 10% in the six days almost 1900 dow points loss. let's take a look. 177 points to the upside for the dow jones industrial average after earlier high of the morning. green arrows nonetheless. time now for "mornings with maria." sandra smith and for maria bartiromo. see the thank you a great show. you got us ready for the next three hours. whiplash on wall street. i am sandra smith. it is wednesday, august 26th and with new fox business dagen mcdowell diversified financial advisor dominic sabella. timothy bell. our features right now trading well to the upside as they have been overnight. it was this way at this time yesterday. it didn't end like this. raising hope for a relief rally on the open perhaps.

investors riding a wave of emotion to the downside is his other close on wall street yesterday. long-term investors happy to wake up and see dow futures are currently up more than 500 points this morning. >> the dow 30 stocks. lauren: like yesterday, read everywhere. we are seeing green everywhere. >> weird down now nearly two-point. considering we have been up. the dow just turned negative. you're hearing the traders. sandra: the damage was done during the final hour of trading yesterday. the dallas and a 600-point swing. the major averages tumbling for the fixed-rate day. and that time, $2 trillion wiped off the