the government building over our shoulder >> brian sullivan, thank you very much for that we'll hear om you all morning. we want to call your attention to what's happening. as brian pointed out we've seen a deterioration in the futures market in the united states. now the news out of hong kong probably plays a little bit into that among multiple factors. when we walked in early this morning we saw the dow jones implied open to be just up about 120 to 160 points in that range. and now we're implied to open up by just around maybe 30 points or 40 points we did dip negative at one point as well. we'll keep a close eye on the futures. there was a move lower, fairly sharply over the course of the past five or six minutes we'll keep a close eye on that >>> we'll have team coverage from around the world this morning as we look to cover the biggest stories having an impact on your money. joumanna bercetche is watching the early trading action from europe she's live in london matt taylor is tracking the overnight aslan mian market act. matt, we start with you. >> thank you very much for that.

brian sullivan is reporting live from hong kong, a very global show this morning. ian, a busy weekend coming up, right? >> yeah. this place could be electric it could be rocking later on tonight. we're in a public park in hong kong the reason we're here is that there is a major rally, yet another one, expected for this evening. it's called the power to the people rally it will feature a speaker named joshua wong. he was really the leader of the 2014 protests. he ended up going to jail. they're setting up the stage there. in a few hours, 8:00 p.m. here, 8:00 a.m. your time back east, this should be filled with thousands or tens of thousands of people. the question for the cnbc audience, the question for the global markets is what is the reaction going to be what is the reaction of the hong kong police? what will the reaction be of the chinese government and potentially the peoples liberation army. we showed you a bunch of trucks lined up over the border in shenzhen yesterday will they respond? how will this rally end? it is scheduled to be a peaceful one. we'll be he

joining us with an up eight is bloomberg's brian sullivan in boston.t do we know about the trajectory of the hurricane and the estimated damage? >> it is going to take a glancing blow at puerto rico. as you said, most of the damage is probably going to be from the heavy rain and not necessarily from the wind, but the glancing blow will keep the storm over the water and give it a chance to get even stronger so there is a potential that i category three hurricane could slam into central florida late sunday, early monday, a $10 billion event if that happens. >> how much will this hurt order rico, who is already reeling from hurricane maria? >> right, any kind of damage or stress on the puerto rican infrastructure or electric grid could cause problems. one thing that people don't understand, it can be years before region gets on its feet after hurricane. we are seeing this in south and north carolina from hurricane florence last year. these things linger on for years after the event. >> it also becomes a political issue. it certainly was a few years ago wi

i'm brian sullivan you are watching "worldwide exchange." thanks for joining us.se crazy, volatile markets have shown no signs of slowing down yesterday at this hour we were calm then stocks began to sink when trading began. the dow continued to fall, at one point off 550 points but then the buyers, they came in in the afternoon. the dow ended the day dow 22 points, posting one of its greatest point turnarounds of all time what will happen today let's look here is how your money and investments look futures are mildly higher. dow futures up 21 points but this time yesterday futures were basically flat. all of a sudden trading began and things went haywire. bonds have been caught up in the wild swings. as stocks sold off yesterday, bonds got bought in a big way. the yield on the ten-year, 1.6% yesterday. the bond wally triggering the widest yield curve inversion between a three-month and the ten-year treasuries since back to march 2007. the asian markets rose fractionally over night. china up about a percent on the mainland they set the official reference point for

brian sullivan is there. >> reporter: there were no major protests today but there was one last night fired on protestersayho they aimed laser pointers at the police station. the question everybody on the island and across the b here has is how does this ultimately end. we spoke with anthony daparan, a long-time rident of hong kong and author of a book on hong kong protests, and we asked how he sees this all playing out. >> xi jinping, the chinese president, painted himself into a corner. on one hand they said no promise. on the other hand, he k kind of impact the crackdown would have on hong kong economy and the states of hong kong as an international financial center. ld be stuck with muddling through for the next months to come. >> reporter: in 2014 there were protests that stretched on for months, both sides coming from a weaker economic position and they hope these do not do that, but thee protesters h demand that beijing does not seem closer to meeting. beijing's response yet perhaps to be fully felt here inko hong from an economic perspective. hong kong cutting its forecast, ti

as brian sullivan tells us, that might be good for consumers but there's plenty of pain for investorsrop in oil prices is good news at the gas pump but very bad news for oil and gas stockos investors. shares have taken huge hits over the past year with inhestors fleeing group as fast as they can hit sell. what is interesting andou ing to so is how the stocks have split from oil itself. now, oil and oil stocks generally trade together, either up or down, but not reallyla ly. oil stocks have gone their own way, and not in a good way. if you look at the xop, one of the biggest oil stock related etfs against oil, you can see that its shares arerading lower than when oil was around $30 pe one analyst explains why. >> there's a big real loo where these emps will be in a year, year and a half. you can have crude prices dropping, you can have pipelines coming on into the at the same time you have these emps that will be brought back and reining in cap expendin spe. that will affect from midsnge companown to pressure pumpers to oil companies. >> half of more tha oil and gas stocks lost more th

here is brian sullivan. ♪ >> reporter: this political unrest, if you want to call it that, over the lastof months and more rallies are expected this weekend, has disrupted the u.s. financialet ma we have seen our markets on evenly and wedge and we have seen asian markets decline except the last couple of days. we have spoken to members of the financial markets and said, will enes like this dissuade investors, ceo compa heads or public offerings in the center of asia? e investment banker told us today,espite protests one thing that the hong kong market has going for it is a history o relative company stability. >> it's had very few failures of major listed chinese companies here, which means that duenc dili that is done in hong kong is done with understanding of how cna operates. whereas, uk, the u.s. in particular, singapore and even frank forwa frankford is littered with failed chinese ipos. r: that stability that has taken place over years and even decades may come into question if we continue to see scenes like this, peaceful as they are, and companies, executives and workers decide t

for "nightly business report", i'm brian sullivan >>> after t bell tonight disney posted earnings andu tha was below wall street estimates. the entertainment company missed earnings by $0.40 and revenue came in just over $20 billion, but it was more than a billion dollars off the mk. not surprisingly, shares were volatile after hours tonight. julia boorstin has the takeaway for investors. >> reporter: this quarter disney's lower than expected top and bottom line results reflect the impact of the company's transformaon as it integrates its fox acquisition and ast invests to build its streaming business. ceo bob igor saying the results, quote, reflectively integrate the fox asset to enhance and advance our strategic transformation. but it was the disappointment of "dark phoenix" which dragged on the studio's top and bottom line results. as the company gets ready to launch disney plus, its direct to consumer and int division reporting a larger loss than anticipated. now iger says they have all of the pieces in place. they are positioned as well as they launch disy plusn rydition of origi

brian sullivan sits down with the justice department's top anti-trust watchdog to get his take on the appetite to take on big tech but first, not their finest moment one retail ceo with choice words for his company's latest performance and then later on, why walmart is taking tesla to court over solar panels. a very busy hour still ahead when worldwide exchange returns after this w?w?uhi?só'ñó >>> a live shot of chicago about 4:12:00 a.m. central time-out there in america's heartland. frank holland joins us with a look at those. >> good morning, we're talking high end homes, and led lights and reporting better than expected third quarter profit on higher home prices shares are up half a percent this morning despite a decline in orders that hints at weaker demand for new homes now second quarter profit fell by 35% but they still beat estimates. sales however for the retailer missed targets same store sales were weaker than expected. the ceo says the quarter will not be remembered as one of the company's finest lower store traffic and underperformance in women's apparel lead to higher m

kayla tausche is live in washington brian sullivan is live in hong kong let's start with the headlines out of d.c >> in a series of tweets, president trump suggested president xi meet personally with protesters in order to quell the demonstrations and also suggested that the hong kong situation isn't helping trade negotiations with the expectation that china will try to hold a firmer line. chinese government then said the u.s. shouldn't offer advice. also said it plans to retaliate for those new tariffs on september 1st. but the market is looking for any glimmer of hope as dom mentioned. stocks rose this morning on that one comment from a foreign ministry spokesperson about china wanting to meet the u.s. halfway. that's long been beijing's position vice premier liu he communicated that in a late june phone call according to people briefed on the conversation and even in private, lighthizer said that wouldn't be possible because of china's past transgressions president trump said the same today. senior administration officials don't see the president backing down now two told me this mo

brian sullivan is there live on the ground brian, good evening to you >> reporter: good evening.hank you very much. they are out in enforce. i don't know how many there are, probably couple, 10,000 is my estimate the park is behind that. i guess like the bryant park of manhattan, surrounded by banks, sky scrapers here. the park is full this is the overflow crowd you can see there is a lot of people here, a couple of different people talking the main stage is inside that park we were in there earlier there is so many people, you sort of can't move very peaceful so far a lot of speeches given so far nothing yet has happened still early, though. if you're wondering about all these laser pointers that you see, the police issued a ruling that laser pointers are considered a weapon because they can burn at close range. so people are pointing these pointers to kind of rouse the police, if you will, to say, hey, we have our pointers out, giving it them a little bit. despite the protests here, very peaceful and calm, there has been a lot of unrest so the story that we got on cnbc is how m

i'm brian sullivan thanks for joining us. behind us here is the intraday action in the dow yesterday. the dow from peak to trough fell more than 450 points the upside is that the index closed off ets worst levels of the day. the dow finishing down still 333. it's all because of this man right here fed president jay powell delivering the bank's first interest rate cut in more than a decade the problem for stocks is that powell also failed to deliver a guarantee of more rate cuts down the road something both investors and one guy in the oval office are really hoping for. it all came down to two small words, mid cycle adjustment. >> the committee is really thinking of this as a way of adjusting policy to a somewhat more accommodative stance to further the three objectives to ensure against downside risks, to provide support to the economy if those factors are -- where factors are pushing -- pushing down on economic growth, and then to support inflation. so we do think it will serve those goals. again, we're thinking of it in the

. >>> good morning i'm courtney reagan in for brian sullivan this morning. we're keeping an eye on shares of johnson & johnson up just about 2% in early trading as an oklahoma judge finds the company liable in that state's widespread opioid crisis we'll update you on the story in a moment it might be surprising shares being up when they are indeed found liable. we'll set the tone for where we're starting the morning here in the united states dow jones features are indicated lower by 26 points after we had a nice day yesterday so all three major averages indicated to open slightly lower take a quick check on what's going on in the treasury markets with the yields. and right now the 10 year yield is at 1.51 look at this though, two year, 1.526. let's go worldwide now let's check on what's going on in asia. we had a mostly higher session the shanghai composite higher by 1.3% and then in europe at least in early trading things are looking largely red here you can see that the ftse 100 is down by .5% here germany is just about flat though spain higher by .1% and

i'm brian sullivan thanks for joining us on "worldwide exchange.t is only wednesday, but it already feels like a full week, doesn't it down big on monday half of it gained back basically yesterday. here's how things look now futures are not giving you help. look at that, dow futures are up a scant 7 points one of the quietest mornings we've had in a few days. in bonds, the ten-year yield continues to be on the move. bond yields keep coming down look at that yield 1.68%. below 1.7. that seems very low for us, but consider that nearly $15 trillion worth of government debt around the world, countries like japan, germany, france, denmark, they have negative interest rates maybe the global race rate to the bottom, three central banks today cutting their interest rates, new zealand, india and thailand you may not care about those markets, but this could signal the beginning of what could be a global easing cycle among our central bank, the ecb, the bank of china, who knows. a lot of rate cuts taking place around the world >>> in the asian markets, the ha

i'm brian sullivan it's going to be a very busy day for the markets and your money the market still digestingnd reacting to the news that president trump will slap another 10% tariff on the remaining 300 billion in china-made goods not already subject to taxes that goes into effect september 1st. it's also the first friday of the month, that means it's the monthly jobs report day, which, if it's very weak, could press the fed to maybe cut rates again in september that's if that number comes in soft the dow losing 280 points yesterday. it looks like we could lose more dow futures are down just under 100 points we walked in the door about an hour ago, they were down about 50 we are losing steam. it's still early anything can change. do keep in mind -- context is key -- the s&p 500 is still up 17% this year. the nasdaq 100 still up 23%. so the markets have absorbed this fairly well, but the markets not liking that new news on tariffs one index that you'll see only on cnbc, that is important to pay attention to, is our china trade index. this is a group of stocks made up of companies seen as part

afternoon or good evening and welcome from wherever in the world that you may be watching i'm brian sullivan happy to be back with you on what will no doubt be a very busy monday. here is how your money and the global markets are setting up their day coming off that. friday, 623 point drop another wild session last week now futures right now if you're waking up, dow, that is not a misread on the screen. we are solidly higher. dow futures are up 281 points. what makes this even more remarkable is that just about two hours ago they were down more than 100 points, but they made more than a 300-point swing higher in the last couple hours. all that as president trump said that china is ready to come back to the trade negotiating table look at that, that was about 3:00 a.m. in the morning when our hard-working staff is already here, by the way, futures making a big turn up and this is where we stand right now. what a turn. president speaking on the sidelines of the g7 summit in france earlier today listen >> gotten two calls and very, very good calls. very productive calls. they mean business they

good morning good afternoon good evening welcome from wherever you are watching i am brian sullivan. we have breaking news with regard to china's currency it is sinking in a big way the chinese yuan traded offshore is now sliding below 7 to the u.s. dollar. that is a threshold that's not been breached in more than a decade tough go to 2008 and the financial crisis now, as that currency falls, remember, what does it do? it makes chinese exports less expensi expensive, which some say could mitigate any positive impact from the u.s. tariffs. analysts are quick to note, china could retaliate more against president trump's tariffs by further devaluing the currency you can see where it is 7.08 this is a four-year chart. remember, it is inverted as that goes up, that's the dollar against china's currency. that's a weakening of china. look at this we were at 6 and change here four years ago as that trade fight has increased, we've seen china's currency weaken. we have not seen that level in more than a decade >>> the currency war and hong kong protests are happening across the pacific ocean,

started in here >>> good monday morning and welcome to "worldwide exchange" i'm dominic chu in for brian sullivan here is how your money and the global markets are setting their day up, at least to start. stock futures indicating the dow will open by about 215 points. the s&p up by 23 and the nasdaq up by 61 points as well. the bond market right now is already in focus because yields are creeping higher. the yield on the ten-year treasury note right now currently just around 1.61%. the two-year note yield 1.53%. so for those keeping score, that eight basis point spread between the two getting wider after an inversion that briefly happened over the course of the last couple weeks let's go worldwide now in asian trading, central banks in china unveiled an interest rate reform aimed at helping lower borrowing cost for chinese-based companies. that in turn helped send the entire market in asia higher the shanghai composite up by over 2%. the hang song in hong kong up by over 2% as well and the nikkei in japan up by three quarters of 1% >>> in european trading, stocks there helped by comments from ger

i'm brian sullivan at cnbc global headquarters. here are your top business headlines on a monday.t could be a tough start to the week for your money. stocks set to open lower. the trade fight with china the primary reason. remember, the president wants to slap a new 10% tariff on nearly every chinese made good starting on september 1st but china over the weekend allowing its currency to weaken hoping to mitigate the extra 10% cost. >>> first google then apple and now amazon. all three companies are bowing to public pressure stemming from reports of workers and sometimes outside contractors reviewing audio recordings from digital assistants like alexa, echo and siri. apple and google have put human review on hold. amazon is going a different route. it is going to let you opt out of the program but you have to manually delete the alexa recordings yourself. >>> all right all you tesla fans out there, listen up. tesla is bringing back free unlimited charging but only for new buyers of the model s or the model x. the announcement comes after sales of the two electric cars have slowed d

" reported possibly 20 state attorneys general that now we know according to that report with brian sullivanworking with the doj, who says it's working with the ftc, to probe all these companies for market dominance, that is a huge threat to your business now, whether or not we see action taken in the short term is still in question, but in the long term, i think it's definitely a huge threat >> is the original sin, mike, bigness, pure and simple >> it's funny. i think probably for years when facebook was coming up in, you know, the early 2010s, even some folks at the ftc now kind of admit they missed some big signs that growing this big and this dominant in terms of market power for facebook, at least, could have been a problem. you know, at the time, instagram, that acquisition and whatsapp, that acquisition, didn't seem at least to regulators that it was going to be a big deal in terms of anti-competitive behavior, but now clearly, facebook at least in the united states, controls how people contact each other on social networking and soon with this integration of their messaging services,

are resuming at the airport after those violent clashes between riot police and protesters our brian sullivans way there on the ground at the airport, has the latest. hi again, brian. >> reporter: hey, carl, hi again. you are exactly right. one of the reasons the dow is down over 600 points is because of what is happening here but for a couple of different reasons we'll get to in just a minute the airport is open. we obviously came in, protesters, it's 11:00 at night here, they are settling in for the night. you can see people sleeping in a guy's got a sign, welcome to tear gas city. they're bringing in food here. they have no plans to leave. this is now a protected protest zone by the chinese government in caloun across the bay there are reports of a protest there protesters are shining laser lights on the police station there's two sides to the story about why this matters to the global markets number one, just the idea of global unrest, you've got brexit, you've got some of the issues around the world. you factor in argentina a couple of days ago. this adds to the story everything that's h

joining us with an update is brian sullivan.s the storm right now and when do we acted to make landfall? >> it threats the needle before -- between puerto rico and st. thomas. the threat of puerto rico is diminishing. >> what are the concerns right now in terms of how severe it could be if it does, in fact hit florida? is ae official or cast category three which would make it a major hurricane. this will be one of the strongest storms to hit for quite some time. >> it is a key area of concern. what are the defenses like in this sort of area and how well-adjusted are they? >> florida gets hit by a lot of hurricanes and they do hurricane preparation well. rapidorm undergoes intensification. the other thing we have to worry about, the king tide zone. also, you have to worry about subsequent hurricanes and we get a lot of damage when one hurricane moves to another. >> erin is contributing to that. it is going to hit nova scotia probably sometime this weekend. it is going to fizzle out. it is kind of polling that tropical moisture ea

fed's next potential move first two big breaking news stories out of asia shaking up markets here brian sullivans in hong kong brian, how does it look where you are? >> it looks nice now it seems peaceful, but underlying this, as you know, is a lot of political turmoil and financial turmoil. by the way, i heard andrew's comments asking why the president, president trump, would reference hong kong right now. well, there may be an answer to that question. the answer is gointog come up after the break. ♪ i can shine, i can shine, ♪ ♪ i can shine. ♪ i'mma do what i'm made to do. ♪ built for excellence. you start from the foundation up. the excellence is reaching dreams and chasing them at the same time. the excellence is reaching dreams and i'm professional stylist calyann barnett, ♪ and i know that style starts from the ground up. for a lot of teens, shoes matter. the right kicks, make the outfit. kids like to make a statement, they want that wow factor. and for parents, you want to pick shoes that they're going to wear over and over again. so i put together some of my favorite kicks for the new sc

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our brian sullivan has made his way to the hong kong airport and will give us a picture of what's happeningwe look at some live pictures here good evening to you, brian. >> reporter: hey, good evening here is the news number one, hong kong airport is open we got in, us and our crew, landing 90 minutes ago with slight declarlays from the new k area when you get here, you are still greeted by protests and protesters in fact, look at the floor what's happened, guys, this is the part of the airport yesterday. we saw the pictures. thousands of protesters. you had to jostle through. there were some injuries in fact, one reporter for the state media global times was handcuffed by some protesters apparently that's what the government was saying that's why they issued the injunction in other words, what they said is, okay, you can protest. but this is going to be a safe protest zone you can see there is a couple hundred protesters still here. many are sleeping. they have got their documents. they have got their papers, their posters with some of the things we can't show you, some of the pictures are

that is brian sullivan in boston.ning back to the markets and the euro dropping below 1.10. this is bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. when i get in, i literally say 'ah'. experience deeper rest with the award-winning leesa mattress. this bed hugs my body. i'm now a morning person. the leesa mattress is designed for every body. providing strong support, pressure relief and optimized airflow to keep you cool. hello bed of my dreams. order online, we'll build it, box it and ship it to your door - so you can try the leesa mattress at home. love it, or get a full refund. and rest assured, returns are free and easy. i love my leesa. today is gonna be great. find out why so many people love the leesa mattress, then try it in your own home. order now to get big savings - but only for a limited time. just go to leesa.com today. you need this bed. vonnie: let's get back to the major moves in the euro. we are joined by marcus ashworth , bloomberg opinion columnist. we saw the height at

. >>> welcome back to worldwide exchange i'm dominic chu in for brian sullivan this morning.'s get right to the markets and where they stand stock futures are pointing to what should be a higher open right now. the averages have been range bound in the recent days as investors await to hear comments from fed chair jay powell today. the dow opens up about 68 points the s&p up about 9 points and the nasdaq up about 33 checking in on the flight to safety and treasuries we are seeing a bit of a move higher now in yields so a little bit of price reduction in treasuries. yields moving higher 10 year note yields right now 1.645% and 2 year note yields 1.638% meaning that spread between 10 year note yields and two year note yields is just about flat we'll keep watching it it's been between positive and negative territory over the course of the past couple of days in global markets right now, the asian trade was generally positive the nikkei and japan up abo about .5% and the kospi is off .1%. green across the board there the cac in france up .5% and the ftse mib up .5% as well as tra

i'm brian sullivan here's how your money and investments look we're exactly halfway through the 5:00 stock futures are down right now 75 points. nasdaq and s&p down as well. if you're keeping score at home, what a week. monday a nearly 1,000 point loss for the dow. we ended up down 757 we came back we went down again here's your tally. we are actually higher by 0.2% on the s&p 500 now so if today ends either up or down less than 0.2%, we'll actually end this crazy wild week higher on that major average. what won't end the week higher are bond yields. the benchmark ten-year note sitting still at 1.7%. your big corporate story, the big stock story, the big business story of the day has to be uber. right now uber stock is down sharply, 7%, after quarterly results fell short of wall street estimates on nearly every metric growth at its core ride hailing business slowed during the latest period. the ceo telling cnbc he sees this year as the company's peak loss year, and that by 2021, losses should come down. joining us now is joe calina trading at webbush securities. i'll ask you a questi

joining me now, dan, the vice chairman cnbc's own brian sullivan is here as well let me start with youe drama in energy has played out in lock step with the drama in china does that make essential to you? >> it does global oils price in the dollars for the most part. as the dollars strengthened up against other currencies, oil has reacted as well. normally it would track with the price of oil this time the stocks have done a lot worse. investors have completely given up it's been a decimation and many of these companies are trading at valuations below where they were when oil was at $25 a barrel >> explain this to us. what's going on? >> well, there are two things going on one, what brian is referring to is that there is a break down in the relationship between domestic u.s. producers and investors. and they need a new social compact and it's not there the other thing is that oil is a register of risk and very recently it was measuring risk in the persian gulf oil got to $75 a barrel. there's still enormous risk there. and in our count, there are 537 tankers in and around the persian g

regardingregarding cha and the united states on trade, on tariffs, and now the unrest in hong kong our brian sullivanround there help us make sense of what's turning into a bit of diplomatic ping-pong, brian >> reporter: have you ever been to the u.s. open, carl wimbledon, something like that >> yes >> reporter: yeah, that's how it feels here i'm doing this i think our neck hurts i was going to ask you to help make sense of it, because i know you've been in this region recently in vietnam. by the way, great stuff, carl. it has been a crazy 12 hours the protests have actually accustomed down, but the politics has actually ramped up, right? 12 hours or so ago, you had president trump saying that he hoped there's a humane or that president xi jinping will answer the protests humanely. then, of course, this morning, you had china saying they were vowing to regulon those 10% tars then the hong kong government said they were cut tharg economic forecast. you saw futures move that was pre-markets future move on this. then you had the headlines coming out of china, where i know that kala tauchy and others the

i'm brian sullivan it's going t

welcome back and thank you for being with us here on this thursday morning i'm brian sullivan and it'se we could see a galaxy worth of returns on stocks today dow futures up 240 points right now and happen right around 3:00 a.m. new york time. that's when we had newcomb menlmenl -- comments coming out saying that they are hopeful that we can sort of come to a mutually agreed conclusion that will benefit both parties i'm surprising but you can see from that chart that right around that time the futures are down a few points all of a sudden they hiked higher on the words and beat china coming back to the table they have also dominated the headlines recently and you have to watch that 10 and 2 year note yield. we talked about how they call that the inverted yield curve. i'm just guessing you might have heard that term on this network sometime over the last couple of weeks. we're getting very close to inverting. the 30 year yield still below 2% in asia, those comments coming out from the asian markets the hang seng rising .3. japan down fractionally. the european markets, a mixed trade the

i'm brian sullivan thanks for joining us. you're coming off a 767-point drop for the dow yesterday that was the biggest drp of the yea year at one point the markets were down nearly 1,000 points we came back a bit futures are slightly higher. at one point down 950. the currency manipulator tag that trump threw on china last night could rattle the markets again. china making a move this morning to firm up its falling dollar setting a peg to keep it from dropping more. which has futures bouncing back a bit. we are up right now 73 points. s&p and nasdaq, i get it, cold comfort. we lost 760, we're up 66 still we are in the green, at least at this hour we're not seeing a sell follow-through in the markets. here's what we're coming off of yesterday. every dow stock fell the average decline of a dow stock, 2.7%. 12 of the dow 30 fell more than 3% the dow is now 6% off its july highs. the thing driving selling yesterday was that big drop in china's currency below that key 7-1 level to the u.s. dollar china responding overnight their

moved to federal court from state court >>> speaking today from a conference in aspen to cnbc's brian sullivan, the country's top anti-trust official says the justice department will work together with state attorney's general to investigate the big tech companies >> i anticipate it would be in a cooperative manner that, i think, benefits everybody involved states and their enforcement objectives, as well as the parties making sure that we are engaged in an investigation without creating undo burdens. >> you are up to date, that is the news update this hour. joe, i'll send it back to you. >> this is "the exchange." what was our show, sue "the edge. >> let's bring back "the edge. >> we were here for 12-hour days back then. that was something anyway, thanks, sue. >> you got it, joe >> the countdown is on to the jackson hole fed summit. cnbc is going to have first on interviews with the fed heads from philly, dallas, st. louis and cleveland as well as the ims chief economist all kicks off this thursday and you don't want to miss it >>> and here's what's ahead on "the exchange. >>> ahead, jpmorgan

good afternoon or good evening and welcome from wherever in the world you may be watching i'm brian sullivanppy monday well, at least for now we are seeing a little of the craziness for the recent market moves take a break to start the week, although li will say this, futures are now down -- they were down 50 points just about 15 minutes ago then we had the headlines about all flights being cancelled out of hong kong's airport and saw futures take a leg down. we lost 75 points like that. you never know what's going to happen the rest of the day in the bond market, bond yields remaining a little steady. the bond yield still on the ten year very, very low at 1.685 again, this is what you want to watch, 1.59, 1.65, the two-ten spread that goes above that, that's called the inversion that's what people are worried about. let's talk about china because hong kong falling again overnight. with today's drop, the hang seng has now turned negative on the year three-straight weeks of declines for that market. as we noted, hong kong airport minutes ago ceasing all flight operations the rest of the day w

well, brian sullivan is live on the ground there and joins us now with the latest. brian? >> reporter: you know, morgan, i think this is the perfect follow-up to your previous guest, because you guys talked about moving supply chains around the manufacturing of stuff. well, what about people? what about human capital intellectual capital that is something that the people of hong kong are talking about, given the political unrest you talk about moving a factory. that's hard to do. you've got to literally buy stuff, move stuff. it takes a long time what about getting someone to work, a finance worker, a lawyer, a banker, a trader getting them to work if the streets are blocked by protesters or perhaps they don't feel safe? that is something where contingency plans are being put in place we have spoken with a couple of representatives of banks and by the way, none of these banks, none of these people are going to go on the record, because, "a," sometimes they can't. "b," they don't want to raise the ire of the hong kong authorities or the chinese government that said, if thin

i'm brian sullivan at cnbc global headquarters. it could be a tough start to the week for your investments and money. stocks set to open sharply lower. some concerned the trade war with china is heating up instead of taking off. apple down 3% in the premarket, google and facebook each down about 2%, coming off the worst week of the year for the markets last week. >>> apple, google and amazon are making important changes to their home speaker system in different ways. they put human review of the conversations heard over siri and echo on hold. amazon will let you delete alexa recordings. there's been a backlash over the products, people sometimes outside contractors may be listening to what you've been saying. >>> tesla wants to give you free charging if you buy a new model s or model x. tesla is trying to boost sales of the s and x so it's offering free unlimited use of its super charger network. the s and x are just about 17,000 of the 93,000 teslas sold last quarter. free if you buy the car. >> i want to know if that is going to

on the occidental/anadarko merger currency wars, you name it, we'll talk wiit with carl first brian sullivan. >> that's far better than what i have new economic data pointing to a red flag for the economy and stocks the indexes you may not be watching and what they may mean. plus, what is wrong with energy stocks speaking of anadarko, nearly every oil and gas company aside interest them collapsing lately. is there a bull case to be made? and the rising risk to real estate the companies that have made it their business to see those risks coming all that and more ahead on "the exchange." the "halftime report" with carl icahn coming up right after this >>> welcome back a quick check on the markets off the highs of the day for the dow up better than 300 the s&p 500 up 1.5%. nasdaq up more than one and three quarters% am the nasdaq is positive on the week retaking the 8,000 level. a nice follow-thru on that reversal yesterday we will take a quick break coming up next we will talk markets with the billionaire investor carl icahn. we'll do it next it's part of being human. sonoma county declared a

brian sullivan, thank you for that >> sure. >> it is interesting i looked at this yesterday oil prices date are -- spot prices are up 14% gold prices are up 17% the narrative on those two are wildly different >> you mentioned the detd. debt. is there the fear -- >> it's the return on equity on these businesses have been poor. it's about how do you have capital discipline the industry knows it. we were hearing that at a conference recently, but they have to prove that to the street. >>> coming up, a match made in heaven we will be joined by joey levin to talk about the company's earnings beat and a possible spinoff. >>> and with a volatile week that the mkeart has had, where can you turn as a safe haven >>> iac announcing second quarter results after wednesday's close posting a beat on earnings and considerations to spin off match and angie's list tom here has brought a special guest. >> joey levin, ceo of iac. >> tom >> why are you guys thinking about spinning off match and angie home services? >> we have always thought about spinning off our businesses. we spun off now nine businesses

the numbers were pretty decent up 160,000 or 162,000, from 164 kathy said 164 >> yes, 164. >> brian sullivanre looking at the oil production jobs, where there has been losses, you expect that to continue. >> i do. i'm actually getting increasingly concerned about a potential rollover in the oil patch in the permian in particular the strain on their years and years and years of losses is finally maybe catching up with them, wall street and financiers seemed to have lost some patience with the sector i think i saw brian put some notable drops in stock prices yesterday in that sector and so i'm concerned that we definitely plateaued for some time now at u.s. production levels of 12.2 million barrels it could go in reverse >> john, thank you for coming in great to see you. >> thanks so much. >> we got a lot more in the next ten minutes. we'll get you ready for the final opening bell of what has been a wild week on wall street, what to watch in the markets today and next week when "squawk" returns right after this it never questions the tasks at hand. but this year, there's a more thrilling path

thank george washington university, the ncaa and aspen institute but especially, you know, brian and john sullivan and john parsons. you know, thank you very much for working with us to make this a successful conference. and as was recently said, you know, coty with, thank you very much for your couraging to share your story with everybody. i think that was extremely impactful, and we do appreciate your courage and talking about your experiences. thank you very much. do you want to say anything? >> thank you. [laughter] >> thank you. [applause] >> weeknights this month on c-span2, we're featuring booktv programs. tonight the theme is politics. a report on the rise in millennial activism in america. another author talks about the rise, fall and current reher generals of socialism -- reher generals of socialism around the world. and southeastern adviser peter wiener offers his thoughts on how to reverse the down can hill slide of america's political system. watch tonight beginning at 8 p.m. eastern on c-span2. enjoy booktv this weekend, every weekend on c-span2. >> the c-span cities tour is explorin

brian sullivan. >>> a lot more to come on squawk this morning, portfolio positioning from one of thetreet and how yesterday's sell-off is changing the thinking behind asset allocation in the next hour, you don't want to miss white house economic adviser larry kudlow he will be live with the gang in a special announcement as well, vice president mike pence is going to be sitting down with joe kernen on stage at this year's delivering alpha investor summit produced by cnbc and institutional investor, september 19th in new york register now to attend deliveringalpha.com. you're watching "squawk" on cnbc >>> welcome back to "squawk box. here on cnbc we're live at the nasdaq market site in times square want to show you the futures after what has been a volatile situation with some significant trade turmoil. things are looking marginally better this morning. dow up looks like when it opens about 100 points higher. nasdaq looking to open 43 points higher the s&p looking to open 11 points higher. a couple other stories that are out there and that investors might be talking about this morning

weeks of protests, and it's rumored estimated 1.7 million people protested along with our friend brian sullivan you've had 11 weeks of protests, the chinese are boxed in i think it's a really important time to think about if you are in hong kong and you ran a business, would you be investing more cap ex in your business today? would you be moving family members to hong kong or moving away this process takes a long time to move your life somewhere else if you read a number of articles that have come out recently are showing you that not only are the wealthy moving but the middle class people are moving, too. >> tom friedman last week said it wouldn't surprise him if the chinese with a list of advanced industrial products which they will never depend on the united states again certainly seems to be the way huawei is tilting. what do you think they can do without from the u.s. in terms of strim machiindustrial machin materials. >> one thing chinese working so hard to acquire, thank goodness we stopped them, they don't have wafer fabs they need them desperately they are short, 15, 20 years behind a

among the big tech platforms today the department's top antitrust official told our colleague brian sullivanhey all intend to cooperate. >> i think it is safe to say that we're all in the same place, having had conversations with the state attorneys generals at the federal level and the state ags, i don't think, you know, they're at different stages of the investigation. >> he would not give any timeline for a formal announcement or action, but there are reports, guys, the states could go public early next month back over to you >> ylan, is there a sense here -- i mean obviously it seems it is being done in coordination with the department of justice, but that it is just a matter of bringing to bear, you know, the state's investigative powers on all of this i'm trying to figure out what it would mean different for the tech companies themselves to have the states involved if, in fact, the federal government was already scrutinizing them. >> reporter: that's a very good question one of the issues in this type of investigation is where do you draw the line, who is regulating and who is overseei

brian sullivan taking a look at the big news in oil stocks, the worst performing group in the market, more than the price of oil itself. >> that's the story. it's been brutal lately and a bit odd as well because the price of oil itself has held up reasonably well. if you go back, crude oil is flat this year global demand, yeah, likely to slow you talk about that all the time opec cutting output as well. it's balanced it out that does not help the oil and gas stocks they have been crushed and completely separated from oil itself this is the price of oil against the xop, one of the leading oil and gas exploration etfs you can see over five years they usually kind of run together imagine a chart where they are running together but there we go. but in the last few months, the orange line, the stocks, have fallen off a cliff investors have simply given up on the group and they have fallen far more than oil in fact, they are trading below where oil was when oil was at $30 per barrel think about that the pain is everywhere but companies operating in certain areas have been hit hardest, highe

. >> by the way, that sound bite that we played from delrahim was an interview that brian sullivan didr that too. >>> coming up, president trump blasting -- president trump blasting the fed chairman, again. is it warranted? we'll debate the topic and then in the next hour, don't miss our news maker of the morning. bank of america's ceo brian moynihan possible every single day. with technology that helps you offer shoppers a better experience. take your company's app. we can add in all sorts of capabilities, which help your customers manage rewards, offers, and payments on the fly. and now, applying for credit can happen in a flash. that way, more people can start shopping with you on the spot, wherever they are. how's that for changing what's possible? i need your attention for a minute. what are you looking for? is it inspiration? because she's changing the world. every post out there is like "dream big" but when it comes time to take action- girl scouts are making a change. we're the risk takers. athletes. leaders. i'm not saying you can't be part trendsetter, but i am saying you nee

mortgage anymore because america cares for and how they can really help and a firefighter also, brian sullivan line of duty and also helping out deputy died in the mind of duty in illinois. our foundation wants to take care of these families, protect the communities and protect our country and make sure that have to worry about their mortgage anymore. america should make a contract for these families that when you do that, when they serve their country and their community, we take home of their families. go donate $11 a month, i don't think that's a lot to ask for our freedom. these people give us our freedom and give their lives. >> bill: with what rush limbaugh has done for you in selling those shares, how much money has he raised for your organization? >> so far, $3 million. it's unbelievable. there was on "fox & friends" and made ten mortgages that we paid off, six mortgages we paid off and started construction because of that. but that 3 million is unbelievable. we need millions of people doing $11 because it can take care of the problem for anyone in america. >> bill: the need is so grea

plus stephen welcomes brian cox, hannah gadsby, and comedian shane torres, featuring jon batiste and "stay human." and now live on tape from the ed sullivanheater in new york city, it's stephen colbert!=)ñ ( cheers and applause ) ( theme song playing ) >> stephen: come on! whoo! hi there! ( cheers and applause ) ( trilling ) have a seat, everybody. thank you so much. welcome one and all to the "late show." i'm your host stephen colbert. ( cheers and applause ) ( piano riff ) you can feel it. i'm glad you guys have got the energy because you can feel it ton street today. tooth today is a very rough day, so let's start off with something from the smile file. thanks to trump's trade war with china, the dow jones industrial average lost more than 750 points today. and that was the smile file. ( laughter ) because it's all downhill from here. ( laughter ) i've been watching this show on hbo-- "chernobyl"-- don't tell me how it ends. ( laughter ) and in the thing about the nuclear reactor blowing up, over and over again in it, a scientist or engineer will tell a politician, "hey, we've got a real problem here. the nuclear core is going to meltd

you said, brian, and president trump is still struggling to realize putin is an adversary of the u.s. >> ambassador, about your former job, do you know anything at all about this john sullivan? apparently the new nominee, he's pompeo's choice. that almost means by definition he's going to be trump's choice. how do you think he'll view his mission and is this just another case where we have to hope we are sending a very good person who will do the job in the best interests of our country? >> so i don't personally know deputy secretary sullivan. by all accounts he is very competent and well respected at the state department. but that's not the issue. the issue is he has to go and represent the trump administration when the trump administration doesn't agree as to what its policy toward russia is. let's be clear about that. i don't know of a single person in the administration that supports what president trump said today. most certainly secretary of state pompeo has never said something like that. national security adviser boltin has never said anything like that. so what do you do when you're the representative of the united states of america and president trump and the admi