the director general of the wto tells cnbc china's approach to negotiations is encouraging. >> i think it was very much welcome by the international community. i certainly saw it as a very positive speech in the context that we're living today. >>> british banks are the surprise under performers in the europe wide stress test, but the italian lenders feel the pressure as two of them trade in the red despite passing their health checks. >>> the republicans and democrats hold a final flurry of campaign rallies as polls suggest that polls will outstrip previous mid term elections. >> this is one of the most important elections of our lifetime this is a very important election i wouldn't say it's as important as '16, but it's right up there. it's right up there. it really is >> and iran goes to defy u.s. sanctions by continuing to sell its oil calling the measures psychological war as washington speaks with eight major crude importers. >>> happy monday, everybody. "street signs" is back let's check in on how markets have been doing over the last 48 hours or so. starting off with what was a

the director general of the wto tells cnbc china's approach to negotiations is encouraging. >> i thinklcome by the international community. i certainly saw it as a very positive speech in the context that we're living today. >>> british banks are the surprise under performers in the

that just don't happen by accident, some of the biggest names in technology are gathered in china for cnbc'sirst ever east tech west conference. deid deidre bosa is there now good to see you. >> i'll joined by the managing director and vice chairman of jpmorgan asia pacific. thank you for being with us. >> thank you for having me >> audiences around the world are look at president xi and president trump meeting in buenos aires how likely is it that you think a trade deal might be reached? >> i think looking for a trade deal to be concluded may be premature. however i think the two sides will agree upon some kind of framework to restart negotiations that's progress. the road ahead will be long, it will be bumpy. at least this is some sign of progress happening between the two sides. the negotiations are happening >> we will see some progress you think going forward at this meeting? >> absolutely. we should guard against too much optimism also at this juncture the meeting has not taken place yet. i think the market right now is really waiting with a great deal of anticipation on some kind of a

china. eunice yoon, cnbc business news, beijing. >>> if you have views on the retail sector or the arguments about black friday's impact, don't hesitate to get in touch on twitter, @streetsignscnbc >>> coming up on the show, ghosn gone a united showing from nissan's board ousts the embattled executive but what is the future of the automaker's alliance with renault? that's coming up there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a $1,000 credit on select models now during the season of audi sales event. >>> welcome back to "street signs. the saudi energy minister says demand for oil will lower in january, but he insists the kingdom will respond to cooler market anxiety he said the creation of a supply glut is in no one's interest for context, oil prices hit their lowest point of the year so far because of concerns about oversupply >>> in the uk, flybe shares are soaring after sky news re

the coffee chain ceo talking to cnbc about plans for its growth in china. >>> call it the apple effect

china. joining me now, cnbc contributor, chief economic correspondent for politico and host of politico's money podcast, ben white. first, the jobs report. because this is a positive, positive number. says a lot of good things about our economy and the fact that wages are up, that's good news too. >> yes, 3%, year over year. we finally cracked that level which is really great for workers. seeing pay increases. the overall number is very good. i think we probably got some payback this month from last month. i don't know if it's 250 good but it's over 250,000, which is very good. >> but it also means in this fight donald trump has been having with his own fed chair, j. powell, powell is indicated here. with job numbers like this, how can you possibly not raise interest rates? that is 100% the right thing to do. >> yes, absolutely. powell is right, trump is wrong. if you've got joblessness as low as it is. wage growth going over 3%. the felt has absolutely no choice but to slowly and methodically raise interest rates to avoid overheating. if they were to not raise rates, they risk getting behind i

for a party sympathetic to china because they wanted to send a strong message to the ruling government. they want change and are demanding change. one writer from cwnb -- cnbc said these were a litmus test of how strong the party is ahead of 2020. and china perhaps vying for greater influence on the island. they will try to take credit for these local elections. genie: in france, a lot of reaction to the violent protests. dheepthika: the movement protesters blocked ring roads and smashed parts of the champs elysees, allegedly set fire to cities. fuelemonstration to oppose hikes has widened to general discontentment with emmanuel macron. the arm wrestle continues. it is also making headlines overseas. this is from an austrian paper. the cron faces off against -- macron faces off against the yellow vests. a provocative picture of the champs elysees destroyed. the british daily paper "the times" writing the french government did not see it coming. they are at a loss to stop this campaign that has so many disparate demands, and no clear leader. faces a dilemma. if he backs down, he will be compared to francois hollande, who represents everything macron does not

the coffee chain ceo talking to cnbc about plans for its growth in china. >>> call it the apple effect we'll have more about that on this tuesday, november 6, 2018 "worldwide exchange" begins right now. ♪ >>> good morning welcome from wherever in the world you may be watching. it's election day across the united states. control of congress should be decided today, though keep in mind there is some concern because of all that voting ahead of time and mail-in ballots that we may not know the full vote for a few days inside some districts. all 435 house seats, 35 senate seats, and 33 governor's rays wi -- races will be decided with the vote today the futures are flat we're coming off a 200-point gain yesterday keep in mind sectors like the banks, health care, infrastructure are likely to be directly impacted by the ultimate outcome of today. by the way, if you're counting at home the dow is holding on to exactly a 3% gain so far this year let's check the overnight markets. in japan it was a good night the nikkei up more than 1% chinese market was mixed in europe they care about the outcom

cnbc has done a survey of some 800 companies to find out what they think of the impact —— us—china tradep tariffs will bring higher prices, not morejobs. bloomberg is talking about not counting on the third to save stocks again. that's the headline. that's the fed chief jerome powell's comment is playing down further rate rises in the u, new year, which could mean an economic downturn on the horizon —— the new year. not good for markets. and on business insider, the us federal trade commission will investigate whether video games are getting kids hooked on gambling through so—called micro transactions that can unlock in—game bonuses. that is your business briefing. news briefing in a moment. spain says it is in talks with italy and malta to try and find a port where a spanish fishing vessel carrying 12 migrants can dock. the boat has been stranded in the mediterranean for a week after rescuing the african migrants. kathryn armstrong reports. a difficult conversation over what next for a dozen african migrants rescued at sea. the second captain of the spanish fishing vessel describing the

representative robert lighthizer shooting down a report that a new round of china tariffs are on hold. his office telling cnbchat nothing has changed and reports to the contrary are incorrect. president trump is expected to meet with xi jinping later this month at the g20 summit in argentina. >>> now to your top three stock stories of the day nvidia shares are plunging the chip designer warning of disappointing sales for the holiday quarter. it's blaming a build up in unsold chips after the cryptocurrency mining craze started to slow things down. i want you to look at that that's a 17% drop for shares of nvidia that's something to watch. >>> shares of nordstrom also coming under pressure the retailer posting weaker than expected same-store sales. nordstrom saying it had to refund some credit card customers after overcharging them >>> and william & sonoma shares are in the red earnings beat the street estimates but revenues fell short of expectations. the retailer announcing plans to open stores in india those shares down 13%. >>> we are just getting started here on "worldwide exchange. coming up next, raising

not going to give up hundreds of billions of dollars in orders and let russia, china, and everybody else have them. >> cnbc'sley gamble in saudi arabia where as i understand it, you just talked to that country's foreign minister. what did he have to say about all of this? >> he had quite a bit to say, craig, and it was the first time that we heard from the saudi government really in weeks. i asked him about what has happened and how it's going to impact this relationship between saudi arabia and the united states. let's listen in. >> this is a top down society. explain to us how the crown prince could not know about something like this because people close to him did? >> you have people and people were dismissed that should have known, that should have revealed what they knew or should have prevented this or made sure that the authorizations were very clear and the authorities were very clear. this is an unfortunate accident, and it was a crime, and those who committed it will be brought to justice. >> this is an incredibly wide ranging interview, actually, craig, because what i asked the foreign minister as

a lot seems to go back to larry kudlow and appearance on cnbc which he said he was not optimistic a near-term deal with chinaminent. this flies in the face of the president tweeting out one seemed to be. a lot of people around him, bottoms meant to say, what we always do with charlie, what charlie meant to say, but obviously they're dialing that back, hope for a trade deal now, not so imminent. apple under selling pressure. more after this. like this. for the past 15 years, chubb has identified ways that we can strengthen our safety measures. and today, our hospitals have some of the best patient safety records in the country. now, we're constructing new buildings that will define the future of piedmont and chubb is here, insuring our expansion. two million patients a year depend on us. and we depend on chubb. from the international fellowship of christians and jews. there is an emergency food crisis for elderly holocaust survivors in the former soviet union. - this is a fight against time. what we're dealing with is coming out, meeting someone who's 85, 90 years old, can't get around, has no food, has no wa

/china trade negotiations have officially resumed. larry kudlow confirmed to cnbc that bilateral talks are under way, laying the ground work for presidents trump and xi to talk trade at the g20 later this month. kudlow said the development was a good sign. >> we are, again, talking with china. i think that's very, very, very positi positive the president initiated a phone call with president xi we know we will discuss trade at the g20 meeting in argentina we didn't know that before there will be many things, security and things on that list, but trade is one of them right now we're having communications at all levels >> kudlow also had sharp words for trump adviser peter navarro saying that any deal with china would not be wall street's terms were way off base and a great disservice to the president. for more head to cnbc.com. >>> let's get back to the conversation with dan scott. let's talk about some other asset classes. oil, dramatic plunge through the last 24 hours. 7% downside in wti where do you think the opportunity is in the commodity markets at the moment?

the news update guys, back downtown to you >>> sue, thank you very much >>> cnbc is hosting its first-ever tech retreat in chinatech west conference deirdre bosa is there and joins us with imran khan hi, deirdre. >> good morning, guys. that's right, imran khan joins me in guangzhou, china thank you for being here. >> thank you for having me. >> this is your first interview since leaving snap and you have personal news that i want to get to in a minute but let's jump in with snap first since this is your first one it's been quite a year for snap. shares down 50% this year alone. what happened? let's start there? >> i think at snap everyone on the team is focused on building the business for long term and when you're trying to build business for a long term there are ups and downs and they had some challenges and that impacted the share prize. >> why leave now it seems like the story is far from over? >> i joined snap four years ago and at that time the company didn't have any revenue. over the last four years, in q3 our run rate revenue was $1.2 billion. so i'm proud of what we have achieved and i wanted to do s

and new store openings kevin johnson appeared earlier on cnbc and talked about the results and its partnership with alibaba and growth plans in chinaur alibaba partnership is just getting started in fact, we launched a delivery in beijing and shanghai at the end of september and by the end of this calendar year we'll be in 2000 stores doing delivery and partnership with alibaba in over 30 cities we continue to expand in terms of new stores in terms of offerings of customers and new cities throughout china. >> starbucks will offer fewer retail items at lower prices and six holiday beverages to encourage more customers to shop in its cafes. >> tesla shares are rebounding since october 24 when the company reported a surprise profit it has been a volatile year for the company due to controversial tweets from ceo elon musk. recode's kara swisher sat down for an interview and asked about plans to go private. >> i think we will be cash low positive for all quarters going forwa forward. >> do you need to go private are you still contemplating? >> we don't need to. i think we could execute better if we were private. >> swisher asked him if

felt that it was in a strong position he reiterated china needed to open up the horkts r markets they wouldn't fop, cnbcusiness news, beijing. >>> rescue services in california have scrambled to find hundreds of people that have been unaccounted for after wildfires continued to devastate the state. the official death toll stands at 76 with over 1,000 other people still formally missing. >> reporter: in northern california this is what the camp fire has left behind. towns and homes destroyed. more than 1,000 people are missing and the death toll keeps rising >> an additional five remains were recovered bringing the total up to 76 human remains. >> reporter: saturday president trump addressed the region and addressed the loss of property and the loss of life. >> this is very sad to see as far as the lives are concerned, nobody knows quite yet. we're up to a certain number but there are many that are impacted. >> many survived. >> we're living here and advised to move on. >> all we've heard for weeks is by sunday everybody had to be gone i'm going to be the last to leave until everybody's gone because ever

china wants to make a deal i'm open to making a deal. but frankly i like the deal we have right now >> u.s. markets took a step back yesterday afternoon after cnbc confirmed that trump's top trade advis adviser, peter navarro will attend the crucial dinner with trump and xi he's a noted hawk on china, he is frequently in conflict with white house chief economic adviser, larry kudlow. geoff cutmore is in hong kong tod today. why does navarro's involvement in the meeting matter? >> clearly he's a problem as far as the chinese are concerned they know peter navarro very well they've watched his academic work over recent years clearly he's taken a very strong line against the chinese government and its trade policies his inclusion at this late hour has not been particularly well received as i understand it in beijing. coming into this meeting, you know, we have seen ebbs and flows in positivity. the markets, i think, starting to come around to the idea that actually we might begin to see progress towards a final settlement of this row. then the inclusion of peter navarro at this dinner suggest things might get bogged down in detail over ip and issues

china trade. president trump saying both sides are closer to striking a deal, which came after his top economic adviser larry kudlow told cnbchere is no trade plan in the works. on the watch list this week, reports on the services sector, consumer credit and inflation, plus the federal reserve holds a two-day meeting. back to the markets. the dow falling 109 points friday and the nasdaq dropping 77 to 7356. >>> amazon is following target's lead temporarily dropping the minimum order needed to qualify for free shipping, just ahead of the holidays. typically amazon customers have to spend $25 to get free shipping. of course, they can pay $119 a year for prime membership. amazon's offer starts today and applies to millions of items in order to arrive in time for the holidays. target dropped its minimum order requirement last week. >>> geoffrey the giraffe is back. the toys "r" us mascot will be featured in 600 kroger grocery stores this holiday season. you can get a collection of brands, play sets and you and me dolls, even though toys "r" us went out of business this summer. the lenders held on to the company's brand names and

john roundtree there >>> let's check in on asia >>> equities in china have been buoyed by hopes of a trade truce with the u.s earlier today cnbc sat down with the founder of wm motor and asked how the ongoing spat could impact his car business. >> we are focusing in on the chinese market at this moment we are not planning to do anything in the u.s. if some dad y we decide to go to the u.s., we will produce there locally. in our industry there's no way you are building something like that in another country and shipping to the u.s. >> geoff cutmore joins us now from guangzhou is there a sense of nervousness among executives like that >> definitely. it's clear here whilst we're at a technology conference, willem, the issue that i think is dominating the chat in the corridors is whether there will be a trade deal signed around the g20 or some progress that deescalates the current tariff situation. it's very much square and center part of the conversation taking place here at this east tech west event for cnbc. we have not only been talking to tech c suite we had the opportunity to catch up with shakers and movers in the investmen

read it carefully. >>> cnbc is hosting its first ever tech retreat in china and deidre bosa joins usa special guest. hello. >> good morning. that's right i'm joined by jim breyer, breyer capital. welcome area >> we've been talking about it the last few days. you've been to china about seven times this year. so you know it well. what are you hearing on the ground when it comes to rising tensions ahead of the g20 meeting this week? >> i think there's real apprehension about what a deal might look like. so i think that there are concerns people are hopeful that some trade deal becomes important both from a product and intellectual property standpoint as well as the tariffs but most of the people here and most of the people i talk to are more in the free trade camp. so there is concern. >> it's interesting to be here at a tech conference because it feels like tech companies are being used as a bargaining chip. what are you hearing from china versus in the u.s. are you hearing similar concerns >> well, i think big tech in the u.s. would like to see the china market more open, would like t

the american enterprise institute also a cnbc contributor, a guy we've been working hard the last couple weeks and months. you guys at the nftc do argue the china and u.s. trade relationship needs to be fixed but you believe we're going about it in the wrong way. if you were in the room with these two men this weekend, how would you advise them to settle this dispute >> i would think that the most important thing is that they start to actually seriously negotiate on the issues that the u.s. cares about we accept there are a lot of problems with china's commercial practices, affecting our industries and our technologies. we think the appropriate way to go about it is to get the rest of the world on our side, to focus on building a multilateral effort it would have been a good thing if we had gone ahead with the tpp agreement that would have brought in japan and other countries in creating rules that the chinese wouldn't have been able to ignore we missed that opportunity we still have the chance to work with europe, to work with japan, with our pebest trading allies n north america to put pressure on china to conform to international norms and t

cnbc's global cfo survey is out. as president trump's trade standoff with china continues, global cfos are citing trade at the top ofheir concerns. jackie deangelis is joining us now. >> that's right, sara. the top concern factor u.s. trade policy. they're worried about it 35% said it's their main concern this quarter, when last quarter 45% were worried about consumer demand almost 75% said the impact of these policies are expected to be negative on their businesses going forward. interesting, though, when asked if they thought congress' top priority should be this in 2019, almost half of them said it should be infrastructure spending while only a quarter said it should be about trade agreements meantime, let's switch to the markets and the fed. 60% said they see a rate hike in december a little more than 40% said three hikes are on the way a notable shift here, more than half said they think the dow will fall back below 23,000. last quarter the majority were unsure the quarter before that, they were optimistic and thought the dow would surpass 27,000 for the first time so some of the confidence definitely waning he

/china trade you are watching "squawk box" right here on cnbc at&t provides edge-to-edge intelligencering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides edge-to-edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when this happens you'll know how to quickly react... so they say that some day ai will transform the human race. well, today you're a little busy transforming your call center. dealing with millions of customers a year, like this one. no, i'm pretty sure i didn't order a squirrel playing a guitar. that's why you work with watson. it works with your systems to resolve calls faster and improve customer satisfaction. i detected fraud and helped reassign a new credit card. honey, the

cnbc reported on friday about wilbur ross stepping down by year's end i think trump is in the process of reassembling his team to get a trade deal done with chinabecause that's within the range of what he can do. >> how big would that be we got a tease, a fake flutter what if we get a real deal we've got a real deal, trade deal i think it's significant it helps china. >> for the u.s. equity markets. >> it's massive because that's going to create more long range confidence on the part of capital allocators, corporations to spend on capital investment. >> dan, always a pleasure. thank you very much for joining us. >>> monday morning analyst call to tell you about already. goldman sachs now out initiating coverage of american airlines and jetblue with buy ratings the analyst says that she expects jetblue's profitability to improve as revenue and cost initiatives ramp up. as for american, she sees higher earnings than the industry average. so buy on jetblue and american but neutral rating in that initiation on delta, southwest and united continental. >>> up next, is there a big bana head the fda imposing a crackdown on a cigarette that is hurting o

cnbc excluetive. > >>> oil is down for eight straight sessions. we'll find out what's weighing on the energy market. >>> and later, we're headed to the front lines of the trade war. china ramping up exports ahead of a new round of tariffs. we'll have more after "worldwide exchgerern an" tus. ♪ ignition sequence starts. 10... 9... guidance is internal. 6... 5... 4... 3... 2... 1... ♪ from capital one.nd i switched to the spark cash card i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back. which i used to offer health insurance to my employees. what's in your wallet? [ready forngs ] christmas? no, it's way too early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at home. and with xfinity mobile, you get the best wireless coverage for your phone. ...you're about to find out! you don't even know where i live... hello! see the grinch in theaters by saying "get grinch tickets" into your xfinity x1 voice remote. a guy just dropped this off. he-he-he-he. >>> it's still dark in times square, but new york city is waking up. if you'r

divergence between us and china, we have gone down a bit, they seem to sometimes go down more as jay powell talked about last night, many have commented and most of my viewers, cnbc understand there is a bit of a slowdown going on, and it has been reflected in yields what do they tell us now, what may they tell us where they'll be in the future let's go to the white board. ten year note chart starting beginning of may, ending basically today, and what's interesting about the chart, four things. first of all, the first high of the year in may, 3.11, remains kregs. we have gone through the process, everybody can clearly see what happened when we took that out there aren't many gimmy trades, but this was one early november, 3.23 level here may be the most important of all see the dip in the middle? the fact that they're so close together, just a slcholarship - slippage likely you go somewhere in the middle of this action, maybe into the 2.80s the other side of the equation might be more interesting. should we create a sideways area and hold this 3.08 level remember, as we start to go back up, the only thing bigger than double tops in treasuries is the notion of taki

cnbc yesterday. he was asked about the possibility of new tariffs on china, depending on what happens at the upcoming20 summit for the president and the president of china are expected to talk about these issues. [video] >> one thing i learned in this game, don't get ahead of your skiis. we may have a good meeting in argentina with president xi. these things are very hard to predict. i would say nothing is set in stone right now. by the way, the president on one of the cable shows did say that if some kind of amicable deal with china were to happen, and a lot of tariffs might be pulled back. he was not promising or forecasting. he was just giving an important hypothetical. >> what is that deal? what ultimately will the president except on the chinese? >> i don't know. i don't want to put words in his mouth. i don't to get ahead of that story. the chinese understand we need remediation on intellectual property theft, forced transfer of technology, ownership. host: from lakewood, washington, democrats line. laurel? caller: hello. they are really hurting my state because we export a lot of our fruit. an

china. the journal just reporting apple slash reporting and pressure in memory chip pricing. t.j. rogers was on cnbc two biggest products they own, their phones and cars, the processors in the future but that long-term view is not finding many buyers in today's trade. back to you. >> all right thank you very much. we appreciate it let's take a look at the dow the dow is down 399 points right now. you can see they are largely drug stocks and what we would call coffin sumer durables more on the market selloff when we return. we are accountable to our clients everyday. we have the freedom to build a plan. a porfolio based specifically on their needs. we're fiduciaries, stewards of our clients' money. entrusted to do what's right. it's a mission. a guiding principle our firm lives by. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com and everyone i've ever opioloved away from me.thing everything. i blew my ankle out and i got prescribed pain pills by my doctor. if making my detox public is gonna help somebody i

♪ >>> good morning welcome gback to "squawk box" here on cnbc among the stories front and center this hour, tesla is cutting prices in chinan the world's biggest automarket the price cuts on the model x and model s amount to 26%. >> that is to offset the tariff impact there >>> separately, another company setting prices in an overseas market that is apple. "the wall street journal" reporting this morning that apple is ordering -- rather i should say offering new subsidies to japanese mobile network operators for the iphone xr that's the least expensive of the new models it's seen as another sign of weak demand for the new iphone we'll see whether that is the case >>> separately, crude prices have hit another one-year low. wti fell as low as $51.73 earlier this morning still down more than 4% on the day. crude is headed for its biggest one-month decline in four years. >>> let's look at stocks to watch this morning shares of overstock.com are higher patrick burn ceo tells "the wall street journal" he expects to complete the sale of the retail business by february although he did not name any potential buyers that stock up 4.

was exerting too much on the china trade negotiations he said that was inappropriate and wall street was trying to muscle its way in. larry kudlow responded to that on cnbchere's what he said. >> he was not speaking for the president nor was he speaking for the administration his remarks were way off base. they were not authorized by anybody. i actually think he did the president a great disservice >> that's not something you often hear is white house aides saying the other aide gave the president is great disservice. then we had this comment from the first lady commenting on the deputy national security council official mira ricardel it is the position of the office of the first lady that she no longer deserves the honor of serving in this white house. how unusual that is for the first lady to be weighing in there you see mira ricardel at the white house yesterday as the president was doing his celebration lighting of candles in the white house and mira ricardel attended that event. so we had this moment yesterday where tlhere were reports she ha been fired and escorted from the white house. and aides pulled people in the office that said she's still at

cnbc cribber, thanco, thanks >> sure. >>> business leaders are watching closely to see if the u.s. and chinaan actually strike a deal on trade we'll see what peter thiel said we'll see what peter thiel said and gm's marry bardes are just . or where you trade, you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. you're in the business of helping people. we're in the business of helping you. business loans for eligible card members up to fifty thousand dollars, decided in as little as 60 seconds. the powerful backing of american express. don't do business without it. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. >>>we >>> welcome back you're watching "squawk box" live from the nasdaq market site in times square. >>> good morning some big stocks to tell you about. starbucks latest results beating forecasts. the chain posting the best sales growth in

come back, the count down of china's largest sales event, singles day, we'll take a look at the market, "squawk on the street" from post nine will continue in a minute cnbc program is sponsored by payden and rygel i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪ >>> the world's largest shopping event kicks off this weekend, alibaba's singles day hitting more than $25 billion in volume. this is only in 24 hours of course, question? will this year be bigger than last in michael evans is joining us from shanghai where the festivities will soon begin. always good to have you, michael, the first question is given the current state of the chinese consumers, do you expect you will

cnbc contributor michelle caruso cabrera. nice to see you. >> nice to see you. >> you know navarro. we know he's the attack dog, if you will, on chinaiange the doingynamic >> i think by design, yes. even if president trump doesn't want to follow anything peter navarro wants to do again, as a tactic, you put him in the room. he's the toughest guy. i'd say he and lighthizer are equivalent in their hawkishness but peter is bellicose, belligerent, willing to offend and so you have him sitting there and people who describe him that way, by the way, that's a compliment the way they talk about that you have him there as a signal that we are not soft on this we're going to be tough so i think that's absolutely by design. >> that bigs tegs the question,l we get a cease-fire deal >> you open up a "wall street journal" and there's been a big leak about a possible deal is that because there's a possible deal or is it also the possibility to say, look, we offered china this and we didn't get it but i think it sets up the market for an expectation, this clear format, okay, we'll have a cease-fire on tariffs for now and then in the meantime we wil

say he's close to making a deal with china on trade, but what's the likelihood of it happening join us, john rutledge, the chief investment officer and safanad and a cnbcontributor it's a very complicated issue, we've already established that add nauseam so i wonder what the chinese would have to bring to the table that would satisfy the president enough that he wouldn't impose those 2025% tariffs on cars that he's threatening to do? >> trump has probably realized by now that when you raise tariffs the stock market goes down and that's not a good thing. second, what they're looking for a playground solution, bill. they're looking for "i'll stop pushing you if you stop pushing me and leave things where they are. well, where they are is tariffs on both sides and the chinese government messing with u.s. companies and making life difficult for them there so this is really not such a good spot that we're in right now. both of them need to show some kind of media progress to their troops, to their people back home so i think they might say something nice but peter being at dinner is not a good sign. >> john, why would you say you think president trump now un

china wants to make a deal on trade. it immediately went up 15 points and 20 points on the s&p, that's a huge move but then, officials at the white house telling cnbc't read too much into that, guys. there's no sign of a deal coming. and the market goes right back down again. up 20, down 20. that's what makes people crazy down here. no consistency at all. take a look at the sectors today. couple things you'll notice is interest rate sensitive. utilities, real estate doing better here, yields are near a six week low on the ten year. cla rida over at the fed telling liesman this morning they're getting closer to a neutral rate. down. up for oil is stabilizing energy. retail, you heard what a mess that was. its no wonder with all the confusion defense stocks are the only stocks that are holding up, the only stocks making new highs. there's verizon, merck, colloro and proctor & gamble. we have a cloudy growth outlook. china, tariffs, europe and brexit, we got to know where we are with the stock market. that's the problem. lack of clarity on those two fronts. i'm waiting for that g20 meeting. that will be very interesting. maybe we'll get more concrete

cnbc we are live from the nasdaq market site in times square. among the stories front and center this morning, multiple reports today that the united states and china they look to cool trade tensions eamon javers joins us live from washington i feel like we've heard this story several time do we believe it this time >> well, becky, let me walk through some of the headlines here reports coming in now from all around the world start with "the wall street journal" then move onto the south china morning post "the wall street journal" reporting this morning that secretary mnuchin and the vice premier of china spoke by phone on friday. the conversation they report did not spark any breakthrough, but they're trying to reach an accommodation. "wall street journal" concluding that the trump administration remains divided on china trade that is most certainly the case. they're reporting that the vice premier of china is set to visit the united states soon they're also saying that the atmosphere between the united states and china is, quote, much better now that's consistent with expectations as well a lot of people pointing to that g20 meeting at the end of

cnbc contributor. toni, at this point, you've got a nuanced view, i think. apple can handle some of the tariffs maybe better than others but that's not all that china might decideretaliation against apple. they could do other stuff. if they really wanted to hit us where it hurts >> yeah. i mean, there are two issues here there's a tariff issue for apple that would likely affect 80% of apple's revenue in the u.s so 25% of apple's revenue, call it $50 billion would be subject. many folks aren't really thinking about the issue of what's the potential tit for tat response from china. ultimately when trump placed the first $50 billion in tariffs, china responded immediately. then he put $200 billion in tariffs and china doesn't import $200 billion so they're -- you know, they're trying to negotiate and say, hey, how can we reduce that tariff on the $200 million now if the u.s. goes even further and raises the tariff to 25% or says we're going to include all these other categories, the question is how's china going to respond can they try to disrupt apple's supply chain in some way could they not authorize new phones for sale in the country there's many things china