and losee nikkei fall all of this year's gains yesterday. i just regain footing today. -- they just regained footing today. the fact that the japanese yen is weakening is helping. asx rising. aske shanghai composite rising 1%. hang seng rising 2.2%. we heard from goldman sachs that authorities in china probably $236 billion trying to .rop up the market in shanghai they succeeded today. they are gaining. untamed --remaining unchunchanged. the latest steps in order to reorganize the big -- business empire with infrastructure offering $11.6 billion in stock to buy a sister company, hong kong electric here that would be power assets. i also up 4%. not to you. relationships and that survives to financial crisis, change in sovereignty. three decade-long hong kong peg is trapped in a tug-of-war between the united is in china. who is going to win here or is it really a battle? juliet with the details. reporter: a battle or telework. cut between the tightening u.s. monetary policy and the slowdown in mainland china. this means hong kong virtually has

and losee nikkei fall all of this year's gains yesterday.t regain footing today. -- they just regained footing today. the fact that the japanese yen is weakening is helping. assets -- a aske

sandra: and japan, the nikkei average losing nearly 4% there.auren: it's ugly in asia and in europe. stocks under pressure once again. this is what it looks like. germany bearing the brunt of the losses down almost 300 points. that is 2.9%. if you say losses of two and two thirds of a percent. sandra: a wild day for oil as we see a huge selloff after a big day yesterday. looking at oil down more than 3% at $47.63 a barrel. strand for the biggest move to the upside in a quarter-century. old prices moving up $9.1141 troy ounce right now. sandra: in the currency market, watching this closely as well. you are looking at the euro at 112, a 1% move up against the u.s. dollar. most global currencies in the vatican's greenback. transfer to show you the yield on the 10 year treasury. 2.17% at the moment. sandra: welcome to "fbn:am" come your first look at today's markets, which is a lot this morning and the latest breaking news and what to expect the day ahead. lauren: weak manufacturing data sparking a major global stock selloff this morning started in

the nikkei losing all of the gains for the year after the weak gdp japan report. markets will open here in the u.s. after the holiday and futures are pointing higher. a good sign after the rough week last week. earlier this year, they were at record highs. now the dow more than 12% from its high. the s&p is on the edge of correction territory. >>> later today, pope francis is expected to announce revisions to the marriage annulment process. the church is not releasing details. the pope said he believes obtaining annulments can be too costly and cumbersome. one staunch conservative publicly warning the pope he does not have the power to change church doctrine. that announcement could be expected at 6:00 a.m. >>> thousands mourn a sheriff's deputy killed in the line of duty. are investigators any closer to tracking down his killers? new details next. hey, you forgot the milk! that's lactaid. right. 100% real milk, just without the lactose. so you can drink all you want... ...with no discomfort? exactly. here, try some... mmm, it is real milk. see? delicious. hoof bu

nikkei losing all of the gains for the year after a weak japanese gdp report. here in the u.s., markets will open higher after the labor day weekend. a good sign after the rough end to the week friday. the dow and s&p and nasdaq fell 3%. earlier this year, the dow stocks were at record highs. now the dow is off 12% from its high. s&p on the edge of correction territory. ouch for our 401(k). >>> later today, pope francis expected to announce the revision for the annulment process for catholics. the vatican is not releasing details, but the pope says obtaining annulments can be too costly and cumbersome. this has created tough division with the church. one cardinal publicly warning the pope does not have the power to change church doctrine. >>> thousands mourn a sheriff's officer killed in the line of duty, but are investigators closer to tracking down the killers? new details next. at&t and directv are now one. bringing television and wireless together. so you'll get your tv from home on the go. which means you can watch movies while you're on the move. sitcoms,

japanese stocks are snapping their losing streak for the first time in four days. the nikkei is up to 18,445, about 2%, and the topix is up nearly 2% as well, 1,495. and given the current levels, one analyst told me japanese shares look oversold. bulls say it's only a matter of time, to revive a rally in tokyo as japanese markets are outperforming in the region for the year. they say, improving earnings and a favorable currency are likely to help boost sentiment again. the weak yen usually helps japanese exports to earn more money abroad. and the dollar is rising again, around 120.60. and the beige book itself will not sway the feds' potential rate hike in september, but it's a piece of evidence the fed will use. analysts saying the important thing is that it came out two weeks before that widely focused fed policy meeting. switching to china, markets will be closed today, and markets in mainland china will be closed friday as well. so at least for the rest of the week, investors don't have to worry about the impact from chinese markets. >> obviously chinese markets closed, b

losing momentum. fallsne: the nikkei erasing all games. gdp shrank by 1.2% in the second quarter. the refugee crisis deepens, jean-claude juncker compensation plans for the relocation of refugees across the eu. ♪ manus: and good morning to our viewers in europe, africa, good evening to those in asia, and welcome to those waking up in the united states. i am manus cranny. francine: i am francine lacqua. we are getting better gdp figures in europe. it grew 0.2%. it is not that much more, but we will take it. euro-dollar, 1.1183. manus: a little bit of a reprieve for europe. china is selling down this morning. exports fell. that is compared to a year earlier. dropped moreorts than 14%. a trade surplus of $16 billion. let's go to the chief asia economic correspondent. behind these growth figures, what are we worried about? good morning. for china'sr day economy, but it is hard to see something that would turn around exports in china. the manufacturing sector is suffering. they are suffering from deflation. japan, they refreshed their gdp to show that japan's economy is in the doldrums

latest trade data showed drops in imports and exports last month and in japan stocks drop with the nikkei losing it's year to date gains but then in early trading so far in europe this morning stocks are higher looking off of that as well and you're looking at the dax and just about everything at close to 2%. >> there are 1.4 million people and there's a lot of cities with over a million people and maybe it's a good idea but the chinese have been building a lot of stuff just to build it. i don't know. >> are they planning more stuff to dig holes and fill them back up again. >> that means they're more panicked. >> supposedly the factories are churning out -- everybody stays employed but they are turning out cement and concrete. they're not even using it. i don't know, maybe they can use it -- we almost built a lot of these things for awhile, right? one in florida? one in california made sense, didn't it? you don't think they have shovel ready stuff. >> it pam very appropriate for that package. in way in corporate news antitrust regulators, are expected to give the green light, yes, yes, we should

the asx losing big trading range but 2.4% at the end of the session. nikkei 225 off by 2.5% as well. >> right as we said in the headlines dell is betting big on china. the computer maker plans to invest 125 beside in the country over the next five years. the company says the investment will add $175 billion to imports and exports sustaining more than 1 million jobs in china. last year michael dell spoke to cnbc about the importance of doing business in china for his company. >> we continue to invest locally in china. building our business there. building up relationship with local suppliers and partners and it's got it's complications as you suggested but it's a large and super porn country for us to be participating in. >> in 2010, let's remember, dell announced it would spend $250 billion on procurement and other investments over the next decade in china. it's the second biggest market outside of the u.s. they're coming through with a larger amount of that investment today. very interesting to see this. we might be bulls or bears on the market with china bu

the nikkei and hang seng down more than 2.5% and the shanghai composite losing 1.4%.erage industry hit hard by government efforts to prop up market stability. julia filed this report from hong kong. juliette the brokerage: industry being hit by government effort cap of stability. three of china's biggest brokerages have all tumbled twice as fast as benchmark indices since the beginning of july. security firms having doing and national service of the stock market and at the same time, revealing the risk and getting hit by a plunging volume due to restrictions on speculative trading. they lost a dramatic reversal from just eight months ago when the value of pacific shares were almost on par with swiss tank ubs. >> erik: u.s. stocks ever burst earlier losses but not the case in europe or mark barton stands by. it is all over. three days of game equated to a 3% rise. it has gone to a screeching halt. after the biggest increase yesterday in six years, both china producing prices biggest slump in six years as well, really putting the cat amongst the pigeons when it comes to

japan's nikkei closed up a half a percent, snapping a four-day losing streak.ver in europe, we will take a look in -- there you go, there is a look at the european market, green across the board. corporate news, the ceo of japan display hinting at strong orders from apple ahead of the iphone launch. am was never mentioned by name but the screenmaker's ceo said, "his biggest client is increasing orders." the new iphone is expected to be launched later this month, kell. >> now, u.s. treasury secretary jack lew sitting down with cnbc's steve liesman with an exclusive meeting ahead of the g-20 finance ministers' meeting. diplomatic but hard criticism for the way china handled its recent devaluation. >> we started out, by global standards work a strong u.s. economy. i think china, for some time, has been slowing down. they had a double-digit growth rate that was fueled by heavy growth of industry and they have, for several years now, been in a transitional phase. the question is are they managing that transition in an effective and orderly way? i think that there's

nikkei is down 4%. the shanghai composite closed about half an hour ago losing 1.25%.data out of china we want to turn to hong kong. hello again. so china's pmi numbers were released today. what do they tell us about the state of the country's economy? >> reporter: well they are confirming what a lot of people thought was happening and that we are seeing a wider shift in the chinese economy. we saw manufacturing contract in the month of august and the service industry slowing. the rate of growth slowed. in terms of the numbers, it all sounds technical but if you have a number above 50, it means that part of the economy is growing. if the number is below 50, which is what it was for manufacturing, that part of the economy is contracting. why is this important? it's important on many levels. the government needs a new economic policy. but along with that we've seen all of these not just jitters, a lot of panic around about the chinese markets right now and the impact on other wider markets. is that a reflection of what is happening in the chinese economy right now? some

losing momentum. what is interesting, eight shares in the hung saying are gaining, even with -- in the hang seng are gaining, even with the hang seng down. leadingghai composite financials down. let's look at the nikkeii has reversed earlier gains, reversed up for tenths of a percent. it declined in previous months. it has been pooling the most a decade. japan in some people saying that that is profit-taking given the huge boost in the japanese stock market. look at the big movers in japan. toshiba up despite earlier losses in the morning. the fiscalss for year, $290 million. of course we have that accounting scandal there. toyota. after nikkei said it it in its average. back to you. worst of the market slide is over. saying that it has prevented a freefall as well. joining me -- you know, you can talk things up -- was that an attempt to be really, really bullish? guest: they are talking stock stabilizing, it fundamental stabilizing, but even this morning, they were revising lower last year's gdp in china. sector, butn by the it was a reminder that not all things in china are as good as the weekend would have us believe. rishaad: but reducing that or revising that growth downward. it benefits one, do

nikkei and australia are closed if for day. both are down 2 1/2%. a similar story in hong kong, down 2.16%. shanghai composite losingre. >>> we have news coming out of the region, china's premier says that his country will not result to a currency war. that is after the yuan was devalued last month. also, li is speaking out about the state of his country's slowing economy. >> translator: despite moderation in species, performance of the chinese economy is stable and moving in a positive direct. having said that we face difficulties but we have more opportunities than challenge. is it the creativity and passion of the public that gives us confidence in overcoming the difficulties we face. we have the capability to achieve all the major targets of economic development this year and lay a solid foundation for economic growth in the future. >> that sounds optimistic. let's bring in our correspondent there. you listened to this live, andrew. and we have a bit of a satellite delay but tell us how frank the prime minister was at acknowledging problems and a sense of reaction to his address. >> reporter: he was certainly fr