and finally, cisco systems is also reporting earnings.ing gear maker will likely report another fall in revenue as declines in its legacy hardware business outweigh gains from its new divisions such as security. joining us is lucy macdonald, chief investment officer, global equities at allianz global investors. welcome. this morning, interestingly from the imf about china's being filled much by debt. that is exactly the case was that we are seeing debt everywhere in the world as being the major determinant of growth. that has been the case since the financial crisis, but particularly so in china, which has really driven excess growth, over 6%. that has helped the rest of the world, for sure. pointing out this debt is there and will need to be financed over time is a good caution, i think. it is a common picture around the world, the growth is fuelled by debt. where is the dividing line? read as a become manageable and healthy to keep the economy growing, and being into dangerous territory? we had a very clear number at 90% of gdp. that pr

the ceo of cisco systems will be joining us at 2:30 p.m. u.k. time.t is your bloomberg business flash. guy and match. guy: thank you. names, all bunch of core stocks, you can find bloomberg, you need to make some changes at the top with the timing but it will confirm which dividends are going out today. or which stocks are going ex dividend. is what we are at here. let's talk a little bit about what is going on, we're looking around 8:30he ceo a.m. u.k. time. the numbers have missed. how are they maintaining guidance? we will figure that out. there's another interesting lunch of questions, talking about, they are looking to get battery business and you can kind of understand why. coming fromoth flow into the grid and the way you smooth that out is by battery technology so you put the battery next to the turbine changebe you start to the dynamic of wind in terms of its abilities to fit into the wider grid. we will ask the questions after the open later on. matt: there is a huge debate here in germany about the placement and the existence of these wind

l brands, the parent of victor a see -- secret bed bath & body works, like cisco systems.ollow same-store sales. they delivered weak same-store sales in june and july. some retailers doing better of late. we'll see whether or not they pull out a win here. up one-half of 1%. sorry up 1.5%. cisco system up half a percent. saying there was uncertainty prior to trump's administration. now the administration is in place we'll see what they have to say. liz: nicole, thank you very. federal reserve minutes bringing much awaited distraction from north korean and d.c. turmoil. chatter on wall street the fed says, the "g" word, gradual rate hikes, offering no concrete clues on timing that can be translated to this, still under 50% chance of a rate hike all the way forward into december. so which stocks can balloon higher if the fed holds its fire? we have rose wood managing partner mike murphy. name them, what does well if the fed does not, hold their fire and do not pull the trigger? >> if they hold their fire you look at retail names. one name we like is walmart. reason for that w

shares in cisco systems have fallen in extended trading after it predicted another revenue decline astries to remake itself amid a changing networking industry. the company whose machines formed the backbone of the internet, said revenue in the current time may decline as much as 3% from a year earlier. the ceo chuck robbins joins us .fter 2:30 p.m. u.k. time that is your bloomberg business flash. thanks million. tencent shares have jumped the most in a year after they posted a record profit in the fastest sales growth in seven years. anna: we'll get earnings from rival alibaba. analysts expect the company to show strong revenue growth. as we were just discussing, we have a chart from one of our colleagues on china's text giants, this is global. ian: global growth and the -- in the economic sector is muted. even though we are talking about stronger economic activity will 4.around 3.5 or you have the growth expectations from these tech stocks, they are long-duration stocks so as bond yields stay low you get that stimulus, there classic roast plays in that is why people are getting exci

in other business news: technology companies, including microsoft and cisco systems have ramped up lobbyingre looking to avoid any future restrictions on cloud storage and eliminate tariffs on electronics goods. the us, mexican and canadian negotiators are due to start talks on the 23—year—old trade pact today. donald trump has hit back at the business leaders who resigned from his manufacturing council in the last couple of days. so far six high profile figures, including the bosses of intel, merck and under armour, have left mr trump's panel in protest at the president's handling of the rally held by far right wing groups in virginia. at a press conference mr trump said the bosses in question were not taking theirjob seriously. and whilst it's president trump's communication tool of choice — it's a tweet by former president barack obama that has become the most liked in twitter‘s history. the tweet, quoted nelson mandela with a picture of mr obama with a group of children from different racial backgrounds. it has been liked almost three million times since it was posted on 13 august follo

walmart, gap hear from cisco systems and alibaba. >>> baron's negative on netflix.s increased competition from the likes of disney and others could cut the company stock price in half by end of the decade >>> lockheed martin winning an $8 billion sichdefense contract >>> danone could be a takeover target could be brought by kraft or coca-cola. shares trading higher in europe on that report. >>> time for top trending stories. and more fallout to the major hack attack on hbo they released episodes of larry david comedy series "curb your enthusiasm" more than two months before scheduled to air. hbo saying the hacker may continue to drop bits andpiece of stolen information in attempt for media attention. that's a game we're not participating in they announced they were victim of a hack attack late last month. >> i'll still watch it when it airs >>> shonda rhimes making a big move away from abc, the show runner behind hits like grace anatomy and scandal is headed to netflix. signed a multi year deal to produce a new series, another project for the streaming company. netf

earnings front, more retailers, target reports before the opening bell after the close we hear from cisco systemsnd l brands as far as yesterday's earnings, interesting reaction tj maxx showed continued strength home depot results were solid. the stock sold off and dragged down the dow which people were wondering about. some concerns around amazon competition. but still continued weakness and bearish sentiment around some retailers. coach, one of the turn around stories dropped. dick's, can't even talk about that one that one in the face of better retail sales >> pixed picture on the consumer sales. retail sales drove the dollar higher, but not the equity market manifested in macro moves. >> i think walmart on thursday will be key. this turned around and has seen strength in e-commerce we'll see what the spending patterns look like. >>> still ahead on "worldwide exchange," a round up of the big stock movers including a double dose of activist activity. those names next. >>> and as we head to break, a check out on the action in europe we're higher across the board. a strong day monday, slightly po

shares in cisco systems have fallen after it predicted another revenue decline as the business trieso remake itself. the company whose machines form the backbone of the internet said revenue in the current period may decline as much as 3% from a year earlier. ceo chuck robbins joins us at 2:30 p.m. u.k. time. that is your bloomberg business flash. francine: now let's talk about the fed. the battle between data and theory. that is how one analyst described the situation. minutes from the fomc july meeting showed officials scratching their heads about why their models aren't working. us, bob janjuah, client advisor at nomura international, and ralf preusser, global head of rate strategy at merrill lynch. range we'ves the seen. what will happen to them from now on? ralf: we think they're going to go higher. it is a question about whether or not the market is willing to go the extra step and price in the end of the hiking cycle for the u.s. it is a question of what impact you believe the fed balance sheet will have. i don't believe transferring $685 billion worth of treasuries into the p

names such as cisco systems. that was earnings disappointment, down 4%. western digital down 2%. everything to the downside. interesting stern ruger, smith & wesson, the gun brand, they were up about 1%. the big picture here traders would say you have greed or fear. you have to take it with a grain of salt. this was more of a day of fear where they basically take all the risk off the table. back to you guys. melissa: nicole, thank you. david: here now to react to the deadly barcelona attack, fred barnes, "weekly standard" executive editor, scott martin, kingsview asset management, both fox news contributors, dan bongino, former secret service agent and former nypd officer. dan, spain has a history of dealing with terrorism. they know how to track these things. they dealt with the basque terrorists in the '70s. they haven't dealt with it recently. isis in particular targeted other nations. they targeted the united states, great britain, belgium, france, germany, this is i believe the first time they have bonn after spain. why now? >> well, because the eurozone makes it very easy t

. >> reporter: he was so good, that cisco systems invited him to move to raleigh and work for the company. smart guy. >> smart guy. >> reporter: but if nancy was to go with him to america, for immigration reasons, they had to be married. so in the fall of 2000, they said their vows, an ints mat family affair. >> how did she feel about going to north carolina? >> a little apprehensive at first. lots of tears at the airport. fear of the unknown. but i think she was excited. >> reporter: and a few years later there were two bmws in the driveway, nancy had a vast circle of friends and brad a bright future at cisco where he'd become an expert in the marriage of internet technology and telephones. one of just 152 such experts in the whole world. and best of all, two little girls, bella, born in2004, kati two years later. >> the best motr i've ever seen. she played and played and played. she was just so hands-on. >> reporter: and now they were putting up missing posters. sunday went by, all day monday, then monday evening someone called 911. >> as the chief of the cary police department, it is m

. >> taking a look at cisco systems after the bell it is trading slightly downside. earnings per share in line at 61 cents versus the estimates. look at the revenue, the estimate there was 12.06 billion. the stock is trading to the downside right now. we are getting comments from the ceo, chuck robbins, the ceo saying they had a strong quarter. it was transr transformative year and they made tremendous progress in two years. transferring our business to more software and recurring revenue. the revenue came in at 12.1 billion. that was more than the 12.06 billion than had been anticipated. they also gave an outlook on restructuring plan. that wit be substantially completed by fiscal 2018 in the first quarter. back to you guys. melissa: nicole, thank you. david: quick check on oil, dropping more than 1 1/2% to 46.78 a barrel. crude driven lower by a government report showing u.s. out put is now at a two-year high. gold reversing course after spending two days in the red, closing up a quarter of a percent to 1290 an ounce. it is up after hours much higher $8. good day f

cisco systems down about 2.5% in the premarket.mates, the revenue contracted for the seventh time in a row. the outlook is a little disappointing. website the software turnaround they are trying to make happen is taking a little time. the wells fargo analyst says guidance is conservative in their moving in the right direction. time will tell. one byn: in the u.s., one ceo's of some of the biggest companies began to distance themselves from the president of the united states following his comments following the ugly rallies in virginia over the weekend. they departed his advisory councils. just as they were going to get together and get the latest band, the president closed them down altogether. the divorce between one of the most important constituencies of president trump, the world of business and the white house. joining us is the portfolio manager -- chief equity strategist at bloomberg intelligence. chad, is that with that is yesterday or symbolic? chad: it's the real deal. they are trying to have a careful departure from the

cisco systems, the shares are likely to weigh on the dow today.uarterly profit of 61 cents a share was in line with estimates but its sales in its closely watched security business missed forecast and that stock is down by 2.75%. we have a number of key economic reports that are out this morning before the bell at the open we're going to be getting initial jobless claims and the philly fed index coming up at 8:30 eastern time followed by industrial production 45 minutes later. >>> alibaba shares are higher in premarket trading this morning just a note that some of the numbers you may be seeing on the screen when we report those, those are in rem and d the chinese e-commerce giant did beat on the top and bottom lines. that stock is up 4.6%. >>> when we return, is washington gridlock coming or continuing? we'll talk about the fallout of ceos quitting the president's councils up next, though, more problems for hbo. a number of social media feeds were hacked, including the "game of thrones" twitter account. we have the details straight ahead. estors e

outside retail, also going to hear from cisco systems and alibaba. he is in a good mood, he has five bitcoin. >> good return. >> trading above $4,000 first time ever. now quadruple in 2017. took just a week to jump from 3,000 to 4,000 >> this is true. do not use conditioner in your hair, it will bind radioactive material to your hair. >> in the case of nuclear strike. >> this is the notice that went out to guam residents. >> oh. >> i'm not joking. very serious >> very serious. seems more serious than consumer -- i was coming back on a plane, you would not believe what i was able to do. watching a movie on my iphone on a united wi-fi deal. on my united application didn't even have to pay anything figured it out i was like you got the app i had the app. >> you need to have the app. download it in advance. >> can't download it on the plane. >> already had it. that's how i coordinate my stuff. >> that's thinking, joe. >> so i saw this, john goodman in it, it is a combination of the room and walking dead, zombie apocalypse. it is happening after one of th

we're looking at mircosoft, cisco systems, oracle, those companies.ady eddie companies that have a lot of cash, very little debt companies that have dividend growth stories behind them >> so doug, what is your view o where the market stands now and how to factor in everything from economic data to geopolitical risk and so forth? >> i think you hit the nail on the head you have to brace yourself for a pull back, but that didn't mean that you can't make money. we break agree in terms of beine towards the defensive stocks, telecoms we actually like the utilities we're probably less sanguine on technology we feel like technology has had an extremely strong run and that includes most of the steady eddie techs. and we definitely are sort of very neutral to bearish on financials >> why >> i think financials have wrun run ahead of the fed financials are up 27% in the last year. and the earnings growth just isn't there for most of the banks and brokerage houses i think also the low vol that we have experienced this year has really benefitted a lot of the banks

chief strategist steve bannon and on top of all of this disappointing earnings from wal-mart and cisco systemsing for a very rocky market this week, with thursday seeing worst of it. stocks posting their worst trading session since may, the dow plunging nearly 275 points. this making the dow and nasdac and s & p ending the week in the red marking the first two week losing streak since may, the first time stocks haven't risen the day after a more than 1% drop since donald trump was elected on november 8, and while the dow is still up 10% for the year, investors just waiting on the president's economic agenda which includes tax reform and a fiscal stimulus. waiting for that to get done, trish? >> trisha: thanks so much tracy. okay so what's next? here with us we have fox contributors jonas max, jessica tarla, and gary b. smith. >> good morning trish. >> trisha: gary will we get tax reform? >> i don't think so. i think we'll be lucky. at this point, i'm hopeful there's just no more blowups if you will in the white house. i think the odds now that trump gets anything done are slim not only because

companies like microsoft and cisco systems already increase their efforts.e an international agreement to eliminate technologies goods and terrace. they have disclosed that they have a 48 arrangements. they discuss nasa with administration officials. that is up from 17 groups in the first quarter. there is a big effort underway in that sector. authorities are searching for the person who spray-painted graffiti on the lincoln memorial yesterday. the national park service said it's tried to remove the degree --dash make the defeat -- the graffiti. they are working on the sites until they obviously are going to get that completely gone. the former new york city mayor is recovering from emergency surgery. the new york post says that he was vacationing out of long island when his knee gave way. he suffered from the catchers need for years. and then finally this. another game of thrones episode has been linked. it looks like hbo itself has that to blame. sources say the sixth episode was accidentally broadcast my hbo and spain. it's been a tough year in season. po

cisco is also strong boeing has a contract out for icbm systems again that, is helping them.nd the defensive names, coke and procter & gamble they're on the down side here is something else that might have helped a little bit there is a report out. this is widely passed around on trading desks this morning norway, the biggest wealth funneled in the world is going to increase the stock holdings to 70% from 60%. this is a lot when you have nearly a trillion dollars in assets under management. they already own 1.3%st global market just do the math they have $1.6 billion in stocks they'll go to $700 billion that's a substantial amount of buying the wealth funds, slowly get bigger and bigger. they're having significant impact on the markets. and we report often on what they're doing. these are the numbers. these are a few months old the numbers. you get the general idea here. norway is number one china, kuwait, saudi arabia. these are among the top five you throw the numbers together, it's close to four trillion dollars in assets under manage ment. i think the story here is talk a

cisco moving 4%. predicting another revenue decline. it is trying to remake itself. looking to get more of its sales from current revenue systems.recast for walmart. investors are worried about heavies ending in order to maintain its edge in grocery sales and commerce. joe: let us take a look at the government bond market, content -- consistent with this risk on market with equities. yields lower across the board. to 2.19%.eld down let us take a look at the same intraday chart of the 10 year, the corollary to what scarlet was showing. with the vix. we saw similar action with the yield dipping in the morning on the rumor that went through the market about gary cohn. and again, the effect of that rumor got washed out because we had the selloff and then the move but the key idea is that when there was that rumor, we did see a sort of reflexive action that gave us a hint that, were that to happen, the market would not be excited about him leaving this administration. you have anyase question as to whether or not stocksas risk off, with being down so much, let us take a look at currencies. we can see that the bloomberg dollar index i