thank you, dom by the way, welcome to world wide exchange. i'm in for kelly evans stocks have regained their footing today. so what are investors, what should you be watching to determine whether we go up or down from here let's get some answers and head downtown to bob pisani at the new york stock exchange. bob? >> good to see you there, brian. we've had quite a rally since the monday bottom. here's a better stat than the one you have we have closed the gap with the friday close friday s&p close, 2932 we're there. that's a 5% range down 5% back up bond yields have risen off their lows china's currency has stabilized. that's why we're moving up, folks. so have stocks led by cyclicals and technology, industrials. they're all both now positive for the week so two big themes are emerging is there a chance for a second truce on china some say no. some say yes no determination yet and will this brief period of stability in bonds and china's currency last? we've been seeing the last two days a lot seems to rest on where everybody stands on the ques

>> hey, dom. trump and apple ceo tim cook sat down for dinner friday night at the president's golf club in bed minister, new jersey the president saying cook made a, quote, good case about how a new round of tariffs could hit some apple products and could set the company behind in competition with its south korean rival samsung take a listen. >> it's tough for apple to pay tariffs if they're competing with a very good company that's not. i said how good a competitor he said they are a very good competitor so, samsung is not paying tariffs because they're based in a different location, mostly south korea, but they're based in south korea and i thought he made a very compelling argument, so i'm thinking about it. >> now you remember south korea and the u.s. struck a trade deal last year while apple meanwhile still relies heavily on production and on sales in china. apple's stock has been on a roller coaster since president trump threatened additional tariffs on 300 billion dollars worth of chinese g

dom chu joins us with today's action dom? >> reporter: so, jon, a volatile session for european stocks, all of the major averages set to close in negative territory. as you can see behind me, fairly red across the board the stock 600 index started the day higher before reversing, as china threatened countermeasures in response to that latest round of u.s. tariffs on chinese goods. now, that's weighing on the european bond markets specifically the yield on ten-year german bunds falling to another record low of negative 0.7%, a day after data showing the german economy actually contracted last quarter, as well finally, take a look at the stock of the day amid that flurry of trade headlines. we're talking about danish shipping giant maersk. they issued a stark warning stating that it expects to grow between 2 to 3% this year. they cited a further slowdown in the overall global economy those shares off by about a percent. china and the u.s. together accounted for more than a total of maersk's total revenues last year shipping and

>> yeah, dom, thank you very much this is unexpected this is breaking right now it came out of the hongong development and the chinese government they're implementing wide-ranging and sizable economic stimulus measures to try to undo some of the damage caused by the trade war, by the unrest they also name brexit in here as well some of the issues that are in the middle east. either way, breaking news right now. we'll see if this impacts our markets. it's 5:00 p.m. here. the hong kong markets are closed it's a long document this just crossing from the government of china. as part of the economic stimulus measures, they're going to be doing things like cutting individual salary tax level, basically taxes on individuals will be cut. they'll provide social security allowances, free rent for lower income residents free kindergarten. the possibility of a public works program as well. cutting 27 different fees and taxes on various government programs they estimate this will be a multibillion dollar stimulus package as well. here's what they're saying the hong kong economy faced significant dow

and we begin with these markets and dom chu has that >> generally green and positive all day long if you look at the dow industris up 266 points right now at the highs of the session, we were up just about 312 points at the lows of the session, only up 87. so, again, green all day long. the s&p 500 just up by a percent or so right now. nasdaq up a little over percent after we see a bounce back from friday's big selloff one place to keep an eye on. the idea of lower volatility stocks the ones that don't move around quite as much. they have been marketedly outperforming the broader s&p 500 over the course of the past year the gap has gotten wider so, the etf up 12% over the last 12 months and the s&p 500 is flat if you're looking for some of the stock winners today, check out the ones that are a bit more leverage to trade. these four stocks are dow components and they sold off between 3% and 5% on friday. intel up 1.3% and nike up 2% and caterpillar up 2%. some of the biggest bounce back. >> dom, thank you. >>> welcome to "the exchange." i'm kelly evans. durable goods jumped 2.1% in ju

dom chu is also covering the biggest movers he's in two places at once so remarkable dom chu we willice in just a moment but first let's trade to close with tom cruise who is a trade stat gist. good to see you. so yesterday we talked about the vicks. it's quite a lot today were you surprised >> i was surprised to see a pullback this far closer to 18 i mean, we're off the lows we saw for the day. but i was expecting a little bit more concrete news that come out before we were really going to come out before we were going to see a meaningful pullback. i also was expecting bond yields before we see the vicks this close to 18. i was expecting it to get down to 20, maybe a little below that because we've had such a broad based rally i'm still waiting for yields to rise a little bit to be that second force that rises in equities >> you look at what's leading the s&p higher today if you look at the week as a whole especially given the fact that we have all this volatility, we have more of those defensive sectors like real estate like staples that are higher on the week, does that sound like

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 morning of the trade uncertainty and the resulting market volatility. it is what it is and when i asked whether they believe it's trade or the fed causing uncertainty, both said it's pretty much only president trump and his hawkish adviser peter navarro that are truly pointing the finger at the fed chair. everyone else largely believes it's because of trade. >> or in other words, pointing the finger at themselves or at the president. kayla, thank you the world is on edge over what's coming

let's send it over to dom chu at the telestrator for more dom? >> all right so, morgan, wilfried, you guys had a great conversation with regard to what's happening with the markets and the health of the consumer, places to look for investing. so we wanted to take a look at the retail sales picture, only because it has so much more runway this week given the earnings that are coming out, the economic data, and the folks over at widecharts.com put together a look about retail sales over the course of the past six or so months and how strong they've been and they break it down into some of the components of them as you can see here with the orange line, the retail sales picture overall has been up about 2.8% meanwhile, you can see grocery stores and food and beverage store sales right up there with it that speaks to that consumer staples trade that's been out there. we know that valuations, perhaps, are a bit stretched there. however, the consumer staples side of thing, very strong when you take a look at the other parts of the retail sales picture,

my friend dom chu has the numbers. >> no fear or greed happening in the stock market as you can see, it looks red, but not red by that much the dow industrials only off by 28 points. this is like the middle point of this middling range that we've seen all day today as the recovery from the low stalls out. down 0.2% in the s&p and the nasdaq off by 0.1%, as well. a key part to watch here, as well the home and housing construction stocks surging today to a new 52-week high. this etf that tracks them, up 58%. some great results out of home depot. mixed results, but a great reaction for the stock driving a lot of that home construction surge over the past year to date period. and if you are looking for the stock of the day, balance some of that optimism with pessimism. since the highs we saw last november, this stock is now down around 41% although when we look at everything overall, it's still been a nice rise for some parts today and yesterday and it fell off again today. so, joe, pessimism, optimism, a little bit of everything for everybody in the market. back over to you >> we'll tal

you know, dom, i want to make a comment on your lead-in about how there might not be any negotiation in september based on what the president said this morning. this is my take. i think that every negative statement is part of the negotiation process. i don't think it means that there's not going to be a deal i just think that's part of the negotiation process. maybe that's a bit half full in perspective. but i think that's really going to be the case there is going to be a deal in time it might be smaller but there will be a deal in my view >> so, kim, i mean, michael brings up an excellent point here we've been driven so much by headlines out of the administration, out of the chinese. is it all in the end noise and if so, what exactly should investors be looking to do if they are not trying to be as headline driven as we are currently in the markets right now? >> right well, i'm going to answer your question, but it's going to be a little on the oblique side first of all, what is your timeline i think if we look back five years from now, this is going to be a blip. but when you're

we saw the markets stop to this, as dom pointed out. now we have the president saying very worried how the stock market will open today. everything is fine with china. and we're going ahead with discussions and negotiations. so this is all the president trying to control the markets, which for him is the clear signal of whether he's going to get re-elected or not. in terms of the broader issues with all of the leaders, he's trying to be -- put a good spin on it. we have often seen the president, after he leaves, get on air force one and completely, as was pointed out, flip-flop on his nice statements to say he's going to drive a tough trade deal with the uk and japan. and he is going to look at those tariffs on automobiles with germany, that these are all great leaders. but he is looking ahead to his g7 and may invite russia to it. >> it has been interesting you said the president has been given kid-glove treatment. what do you think about that? it has distanced himself to its allies. do you agree? >> i certainly agree that the united s

back to you guys. >> dom, thank you. dom chu. do you think of these names, tim i feel you are in a couple of them. >> i am. let me talk about chevron and at&t on chevron it is hard to get excited about energy calls i think we're oversupplied and i think it is up this year i think people recognize management's ability to do that. on at&t i think it is still a sum of the parts i think people underappreciate the pricing of this company -- the valuation of the company in a stabilizing results environment. the hbo max announcement, you know, tom referred to how difficult it will be for them on pricing, but that is a catalyst for this company nonetheless, i still think that at&t is a company if you look at the various components that they piece together, they're not getting credit. >> let's look at walmart for a second you know, obviously a lot of retailers are hit with trade fears right here, but it is a company with more than half of their sales come from groceries. they have issues obviously with transportation costs and some of the

kelly will be watching that energy complex back over to you. >> see if it cracks 50, dom. welcome to "the exchange," everyone i am kelly evans and three central banks cutting rates today, new zealand, thailand, and india this time. and all this as we learn that germany's industrial output fell by the most in a decade in june. gold rallying past the $1,500 mark for the first time since six years. let's get to bob pisani on this. >> yeah. global earnings, kelly, are starting to come under scrutiny for the second half of 2019 is and for 2020 and with very good reason two big things have happened the last few days. first, the fed has started another global easing cycle among most of the central banks as well we saw that overnight. and, second, trade tensions including the possibility of a currency war on top of the tariff war that's making it very difficult to project earnings in the second half in 2020. since the start of august when additional tariffs were announced, the global stocks most exposed to trade have underperformed i'm talking about energy stocks, semiconductors,

back to you, carl. >> dom, excellent point. defensive sectors, all sectors on the s&p are in the red except for utilities, which have hung in there currently trading be ining up a. looking for yield. even some of these troubled stories like macy's earlier this morning saying he believes the dividend is safe and when you compare it to what bonds are giving you, fairly attractive. >> it's one of those days where it's worth looking at what's down the least i've got my eye on walmart just about flat. and we know walmart. how people feel about when a slowdown hits. walmart sometimes benefits >> i can't help but think if you're in a troubled industry sector like department stores which we've seen these secular declines if you're ever going to come out, lower your outlook and go for that and now is the time to do it given the fact you have all these trade angst and volatility in the market i also wonder what this is going to do to the ipo pipeline. we got that feeling from we work today. if you start to see more volatility, more chopp

and dom chu has more on that part of the story. >> all right, so currency is a huge focus, david, not just because of the yuan side of the equation with china, but also relative to what it does to the u.s. dollar and its relative strength to other currencies, not just major developed one, like perhaps the sterling or the euro or canadian dollar or yen, but also against emerging market currencies as well with that being said, we take a look at three companies that have mentioned about the currency impacts in their recent earnings calls, all ahead of what just happened with regard to the chinese devaluation or letting devalue of their ewian, their currency first of all, coca-cola in its q2 earnings release that we just saw a couple of week ago, they talked about the fact that earnings per share grew 4% despite a 9% currency headwind those currency headwinds could play a major role if the u.s. dollar were to strengthen even more than it is right now. so we're watching that they expect a 6% currency headwind going forward in the third quarter of this year not just coca-cola and consumer s

president said it's about time, whether it's good for our country or bad for our country short-term and dom, that's exactly what economists and investors are concerned about. >> the slowing economy is happening at a time when things are uncertain with the federal reserve and it's policies. the president also kind of calling that out as well there's no surprise here he has been very much anti-fed policy so far. how is that playing out in his current stance >> he wants them to cut rates and cut them more quickly and more sharply and the president lashing out again at the fed saying that the slow down is their fault because they won't and in association with trading partners in europe saying they will do whatever he wants them to do. there's been of late a much more rocky relationship when it comes to the u.s. and europe in trade than we have seen in recent years. >> so what's going to be up next quickly. what are we going to be focussing on today what's on the agenda today what should we be watching now >> a number of things. the latest controversial comments about yous and democrats that wer

for some internals on this midday sell-off dom?, first of all, to the conversation you were just having, it would seem to me that the market would be a lot further down if they took this more seriously we're down about 24 some points here and that's not insignificant. we had an 800 down point day just a couple of weeks ago at this stage here, maybe the algorithms and the high frequency traders and everybody with the hedge funds maybe getting a little bit more savvy with regard to just what these headlines mean but as you can see, that sharp drop-off is what we saw in the immediate reaction let's take a look at some of the other places we're seeing it play out where the rubber meets the road internally within some of these indices if you take a look overall at some of the other stocks that are involved, we are going to take a close look at those semiconductors we've been saying it for months at this point. they are some of the biggest and most sensitive stocks, queue china/u.s. trade headlines, those stocks down about 2.5% another s

over to you. >> thanks, dom you're indeed correct.f you look at 30-year bonds, it's barely up on the session. it traded below what had been its lowest close at 210. back to that ten-year, hovering just above yesterday's close the low going back to september 2016 ten-year notes up three. you can see dom is correct, we came very close to zero on that spread finally, dollar index up almost a half a cent, hovering within three-quarters of its july 31st high the nasdaq, what a nice change of pace from yesterday. >> apple definitely helping provide a big lift, seeing its best one-day begins since may 1st before all of the trade tariff tantrums and movements that we've seen. it's up since then not so for sectors like chips today, also moving higher on very strong volume we're seeing pretty good growth there, still very much in correction, and the china names today very strong as well. let's move on over to bob pisani >> 400 points in 15 minutes. walmart, caller pillar, nike, jpmorgan all strong moving in lockstep with the ten-year we peaked

the number one thing you sort of hear from your students in terms of curn political events when they dom to you? >> they kind of regurgitate in a way whatever their parents say. whatever viewpoints they carry from home into their classroom. that's their focus. regardless of the issue, gay marriage, abortion, the military, it's whatever their parents have taught them. and that's why we definite try to instill the capacity and ability for the kids to read through the sources themselves and make their own determinations. in fact, i had some of my student this is last year take out the polls to figure which political party they'd align with. some say i'm a democrat, they take the quiz and it's completely conservative, and also on the flip side. so teaching them how to understand what the political parties represent, their platforms and what each individual candidate brings to the table and counteracting some of the hearsay and things they hear in the news or from their family members. >> zack lowe, 2019 teacher fellow, we're glad you're here this summer. >> glad to be here. >> for more infor

dom chu is standing by with numbers to watch bob pisani following all of the action at nyc, and steve liesman has a look at how a currency war can play out dom, kick things off for us. >> kelly, as you mentioned we're down 6675 in the dow about two, three minutes ago. this is down by almost 3%. the worst day for the u.s. stock market so far in 2019. obviously trade a big part of that story the outside losses are coming, where there is more exposure to some of the technology names in the marketplace. mainly nasdaq composite is up as you can see 3 1/2 percent overall. let's cycle through to the macropicture to check out some of the notable moves there we are seeing copper and gold prices move in distinctly different directions as you can see over the course of the past year, there's been more of a bid for gold prices. the safety trade continues it used to be an expectation of easing from central banks and now it's parts of the safety trade. meanwhile copper prices continue to go lower. the die vurjance signaling what is happened there. and if you're looking for where the rubber meets th

dom. be a rock. up the agenda global inequality the crisis with iran and international trade. donald trump spat with his host french president marcos and the trade war with china can derail everything. the british prime minister might use the occasion for his great. reporting from the g 7 meeting in p.r. it's life for d.w.i. new. music site for some of the money. mum when there's a flood water comes up to our waist to close faster everyone but. the lack of water is equally dangerous. people must self so they can plant crops and find food. floods and droughts will climate change become the main driver of mass migration you can write any night if you want and for the people. the climate exodus starts september 5th on t.w. . if you're. if. leap. this is t w news live from berlin a shot in the arm for the flagging some as of world leaders meeting in france britain and america raise hopes of a breakthrough on trade between the 2 countries but there is no agreement of the g 7 on a range of other issues and europe is worried about fall out from america's trade battle with china also

chu has more on what's moving dom?e macro picture being driven in large part by this kind of flight to safety on over concerns that longer term interest rates are below shorter term interest rates the yield curve as it's better known as. gold you can see, it was unchanged for much of this morning so far not a huge amount of movement but all of a sudden, in the last couple hours or so, we have seen a nice move higher in gold prices now 152370 and this continues the trend of the safe haven asset like gold which is considered to be rising in price as concerns about the market kind of take a little bit more of a -- a bit of steam here. so we're watching gold prices also watching now what's happening elsewhere in the macro complex. oil prices are falling economic concerns playing out there. you can see the medium term trend is to the downside and it's off by 2.5% for wti cruise futures. that's something to watch there and we put up bitcoin prices because there have been folks on wall street, analysts and others, talking abo

joining me are courtney reagan, dom chu, and seema mody. let's talk some shares at macy's tanking today on a major earnings miss and trading at a 9-year low yesterday we saw some relief for the retail sector because the tariffs are being rolled back a bit. even now it's not clear that there was that much relief in that now today the whole sector is tanking again. >> i think there was a lot of confusion yesterday. there still is to be fair. but let's go through macy's. so there were some internal problems to be sure but also some external factors. so macy's said, look, we had a misexecution a lot of our womens sport ware, mts wasn't what the consumer wanted to buy. a warm weather clothing, that sold pretty low too. and this has been a problem for more than a year in the u.s. that's a problem because international tourists when they shop at macy's are buying fuller-priced merchandise so they're not going for the sales racks and they have few to little returns so when you see that drop shortly from the first quarter, that's going to be an issu

flooded the environment agency is here to severe flood warning because we don't know the state of the dom and if there was a catastrophic failure of the volume of water running through a turn like willie bridge would have a devastating impact days of heavy rainfall caused water levels to rise and seriously eroded the dam which lies south east of manchester. more than a 1000 residents of whaley bridge with temporarily evacuated from their homes many spend the night in emergency shelters and no one knows if and when they'll be allowed to return hine risk becoming really are so opposite of dumb. and people get what i think people are horrified about what's happening it's also a shock you know because of when the data says people's lives why they led authorities say the water level has already fallen by to meet his but it will take time to stabilize the dam the situation is still dangerous they say which is why the area has largely been cordoned off. now to football in brazil dortmund to take on arch rivals right in munich in saturday's german super cup the curtain raiser to the new season an

the environment agency has issued a severe flood warning because we don't know the state of the the dom and if there was a catastrophic failure of the volume of water running through a turn like we live ridge would have a devastating impact days of heavy rainfall caused water levels to rise and seriously eroded the dam which lies south east of manchester. more than a 1000 residents of whaley bridge with temporarily evacuated from their hinds many spent the night in emergency shelters and no one knows if and when they'll be allowed to return hine risky kearney really if she were a person could dump. her own crew we're all getting work i think people are horrified what's popular your source of a shock you know because if you're in the desert people's lives where they live authorities say the water level has already fallen by 2 meters but it will take more time to stabilize the dam the situation is still dangerous they say which is why the area has largely been cordoned off. are it changing gears now in scotland things are looking up for wild cats with these little guys oh boy they're cute

back over to you >> thank you very much, dom. with the dow down 840 points or thereabouts, let's check back in with bob pisani at the new york stock exchange >> tyler, the key point here is the whole market is essentially down 1.5% to 3.5%. it's true that some sectors are down a little bit more let's just take a look at the big dow decliners. some of the big technology names like apple are notably weak. if you put up the list there, visa is weak, which is a big global payment processor, big exposure to the global markets overall, goldman is weaker on the lower yields and united technologies also weak, but even defensive stocks, if you want to throw in the names here -- many are down 2% as well. procter & gamble, for example. coke is down 1%, johnson & johnson. these are names that normally would hold up well they're not down as much, but they're still down the point is the overall exposure to the market is being taken down because there is perceived to be much higher risk, and it's not just 10% tariffs. much wider potential risk

dom chu joins with us the biggest premarket movers dom, hello good to see you. >> good to see you happyoday because we have seen a move higher in the overall markets but semiconductor stocks don't be a battleground when it comes to u.s./china trade relations. one that tracks that smh is up a 1.5% but still not close to getting back what it lost on friday's trade we are now just about 11% to the downside from those recent highs and that etf along that theme, the individual component stocks are going to be in focus today as well for semiconductors, advanced micro up 2.75% sky works 2% gains micron 1.5% and nvidia 1.5% as well those are what we're watching. >>> also what's happening right now, some of the trade-centric names outside of semiconductors farmed equipment maker deere, up 1.5% wynn up significant. on the toy side, hasbro up 1% and best buy on the electronics retail side up 1.5 to the upside as well. some of the names that are bouncing more today we'll see if they can get back more than what they lost on friday, becky back over to you. >> dom, thank you. joining us for more on th

for more on what's been driving the action, let's go to dom chu at the new york stock exchange >> so kelly, we have a bit of a reversal over the past of the last couple of days and what's leading the charge with the dow, the s&p 500 and nasdaq, right now, the dow is underperforming there. the s&p 500 is up about 43 points stays here at session highs for now and the tech heavier north america dak if you will, getting more because there's a return by some traders to risk an sippeape the best performers, you mentioned the yield kcurve. as rates start to stabilize and it goes up even more positive, the financials, banks are starting to get more recovery in place. also watch large and megacap tonl stocks. those are getting a bit of a bid in this voirenvironment as well. you might suspect that ewe it will tillties, defensive sectors are the ones leading at least maybe i shouldn't say declining. underperforming on a day like today. those are things to watch and one other place we're going to take a close eye on is what's happening with the energy market because crude oil prices have been b

and dom it's going to stop kids and get an insight and system in how to bite something lengths and important and fulvia not find that to discus something contexts into the tube in his name to sustain him begin to laumann untimed was a target as he was also did not have hospital was just him all talk and on to it. if you're interested in checking it that you're a spectator stand evolution's it makes this whole notion take great great gesture. as well as picture the right situation during a show gets yes you can be able to do it the right people will do is to get to me shouldn't michael himself will interact with thinking of a short. visit me stop by and zoom in on a farm set up so shuffle and getting tired here i can finish my work. then never get off damien's i next see i t.v. ted sometimes it's bullying. and just how to train extremists and if an extreme is prevailing. in the future agribusiness and robots will be able to carry out nearly every would seem to previously performed by . means of jobs who. these new technologies can survive economically both but that much in the way of justice

i was stunned to discover the dom in the forest service domain.e public lands and stunned to discover i was an owner of these lands. that they are all our land in a shared commons and when i thought about it further, i thought to myself, my god this is an incredible experiment in socialism in the world's most hyper capitalistic nation. work all a shared ownership of the commons. and then struck me is a horse story goal and anomalous in american history. i wrote the book to celebrate this fact that we are all owners of this land and that we have entrusted our government to safeguard the land and protect it. we have laws in place, passed by congress to protect the incredible biodiversity on these lands. unfortunately, the people that have been entrusted in this task are not doing what they are supposed to be doing and protecting the land the way they should. they have been captured by the very interested and captured by the industry. grayson, and mining. again and again and of course research and interviewing people who have worked for the dom, we t

dom chu has those numbers. >> it will today, and i saw what you did, becky i cleared it before beck's little joke got on air but the consumer and optimism there keeping the markets in the green, at least for today. we're up almost 300 points for the dow industrials. the s&p up over 1.33% and the nasdaq composite among the minimum wage or indices up over 1.5% here so a big, big check mark there as opposed to what's happening to overall markets we'll see what's happening with the macro side of things so much attention being paid to the difference in interest rates between ten-year government notes and two-year government notes as well. remember, they had gone inverted or negative or at one point very briefly last week. now we're back up to six basis at one point earlier we were at ten basis points we'll watch those, and then the stock of the day, the best performer in the s&p 500, we're talking about cosmetics and skin carrick the estee lauder companies, 10%, represents a record high for estee lauder going all the way pack to 1995 and get this, becky, since the beginning of the year thi

let's get over to dom chui. >> they're the makers of oxycontin and alleged to have caused and prolonged a lot of the crisis in many parts of the country. right now nbc news has learned kritding sources familiar that purdue pharma and owners the sackler family offering to settle more than 2,000 lawsuits against the company for a range of between $10 billion to $12 billion. it was, again, at least ten states attorneys generals and plaintiffs' attorneys gathered in ohio where according to the sources familiar the family talked about a possibility of this we have reached out to the sackler family for comments and purdue nbc news got a statement from purdue pharma saying while they're prepared to defend itself vigorously, the company sees little good coming from years of wasteful litigation an appeals. the people and communities affected by the crisis need help now. purdue believes a constructive global resolution. a big deal this is in light of johnson & johnson now on the hook for $572 million with their oklahoma state crisis so this is an interesting development. more developments as we h

and dom chu with the numbers >> the score is negative it did start off in the green. but at the highs of the session, the zn was actually s&p was up about 20 points. and right now we're at that level. and nasdaq off by three quarters of 1%. and we're also watching an important development still developing in the credit and treasury markets if you take a look at the banks overall, some of the banks are huge to the down side and a lot of that has to do with what is happening with the yield curve different between long term rates, short term rates, has gone negative by the biggest amount since may of 2007 still off by about 4 1/2 basis points, that difference there, that move again puts it all the way back to may of 2007. and a big earnings miss, smuckers missed on revenue and cut guidance as well still though an 8.5% to the down side meaning that from the peak to trough over the course of the past year, you are talking about a 20% drop in smuckers shares. watching that stock closely. >> and we'll have more on that in a bit and welcome to "the exchange." i'm kelly evans.

i want to get to dom chu i want to look at some of the interest rates impacted.stead of doing interest rate stocks, what i decided to look at is stocks moving from analyst calls tied to a number of different thing out there. they involve stocks, if you stocks on earnings reports, the greater u.s. china uncertainty we will start with shares of disney, higher around a half a percent. maybe 1%, roughly 20,000 shares pre market this is the day after of course that earnings report that disappointed investors the media giant is outperforming analysts the twice goes from 150 bucks to 1030 they see more sentiment for upcoming movie releases and the opening of the "star wars" galaxy edge attract at disney world versus disz my land among other things we are -- disneyland among other things caterpillar is lower 4,000 shares pre-market. the construction heavy equipment maker is getting downgraded to neutral on a prior buy and they cited an expectation for decline in a key measure of profits by north america and coin, construction equipment markets, those shares off now we wi

. >> dom chu joins us now with more hey, dom. >> good morning, joe it's a bit of a mix this morning. one big earnings report to tell you about, first of all, and that's smuckers. that stock is down almost 6% you can see in the premarket trade although on relatively thin premarket volume so far. this is the company behind folgers coffee, jif peanut butter they miss on earnings, miss on revenues and cut their full-year 2020 sales growth as well. they cited deflationary pressures on coffee and peanut butter those shares off they had been on a nice uptrend and downtrend for the last four or five months now. >>> also watching what's happening with comcast shares. relatively stable premarket, nothing really going on just yet. however, that stock just got reinitiated with an outperform rating by analysts at wells fargo. they have a $50 price target on the shares comcast up marginally here and near those record high levels that we saw a couple months ago. comcast the parent company of course of cnbc and nbc universal. >>> and we'll ending with what's happening with wti crude it's trying to s

reported they faced little resistance from the separatist fighters that's led some to conclude a deal with dom between saudi arabia and the u.a.e. ahead of a possible negotiation to end the war it's a. cheap tactic immoral cheap tactic by the legitimate government who is. using sleeper cells to activate them and to to cause chaos in the city all in. 4 or negotiations. separatists from the southern transitional council are part of the saudi u.a.e. coalition that's fighting against these bought in a dramatic twist 2 weeks ago they took over the city of aden the seat of the saudi backed yemeni government some of the separatist fighters are refusing to surrender the government's own civilians to avoid military camps and areas where this fighting. this morning at least $60000.00 civilians were evacuated from those areas of the clashes but again this is a highly populated civilian area and we do expect the most of the cadre to be civilly to tell of the random shooting and random but partly that's happening by both sides. yemen has not always been one country north and south yemen came together in 19

. >> dom, it's the reason why we will take a look at the big board throughout the show. the markets are watching. kristin, i bet dollars to doughnuts so the president or the a least top aides. china is now slapping back on the u.s. the president's top advisers are talking about it. >> absolutely. they have their eyes on all of this, hallie. china slapping tariffs on $75 billion worth of u.s. goods. retaliation for the tariffs imposed on china. so far they are trying to down play chippers about the economy and the new round of sanctions. take a listen to what peter navarro had to say. >> the risk for china is simply to galvanize support even more for the president. $75 billion worth of tariffs in terms of what the combined $30 trillion economist not something for the stock market to worry about. and we're cool here. >> president trump not surprisingly already up writing the economy is good and strong. the rest of the world is not doing so well despite fake news with their partner, the democrat party working overtime to convince people that we are in or will soon be going

. >>> we begin with today's market rebound and dom chu has more at the nyse dom? >> so, kelly, the dow industrial's up 282 points the s&p up 41, and the nasdaq composite pacing advancers up about over 1.5%. just to give you a frame of reference, at the highs of the day the dow was up just about 335 points for those who like to look at the s&p 500, we were up about 43 so not far above the best levels of the day one place to keep a close eye on we spoke of the yield curve at length over the course of the past few months here the two-ten spread is actually six basis points wide. that's wider than it has been and certainly not inverted but this has been a steep down trend over the course of the past few weeks here. we'll continue to watch that by the way the financials the outperformers when the yield curve gets steeper and general electric you noted some of the big-time investors coming to talk about the defensive ge it's also other shortsellers out there alleging fraud over at general electric so those shares up by 9% today of course ceo among other insiders adding

. >> thank you, dom, dom chuchlt >>> traders are betting on one retailer ahead of earnings much more unusual activity so, pete, kick it off first. >> kicking it off, bed, bath and beyond, you can look at this chart. it looks as ugly as it can look. it made a turn, earlier today, stock was trading about 40 cents lower than it is, it's trading 848. somewhere this that range. we saw they were buying in the first week of september and buying the nine strike calls they bought about 11,500 at the time now it's pushing towards 12,000 of these about a 20 to a 30 cent option risk reward, we always love those trades i love what i'm seeing here. i bought this i will be in this about a week that's about what i have about two weeks maybe to be able to hold on to this thing this one i like a lot. i got one more as well i got corning. corning hit right out of the gates this morning, very very actively bought. you see, once again, a stock trading call it in the middle low 30s in here, the severe drop it's seen recently maybe there is a little recovery in front of it right now they are buying 15,000

that's dom chu jackson hole is about to kick off. where does the fed factor into how you view the market? >> so, we're forecasting that the fed has to continue to lower rates. one can make the argument that the fed is behind the curve. we actually changed our ten-year yield forecast for the end of the year to be 1.25. so we're looking for signific t significantly lower rates sustainable going into the end of the year. >> september, october, december -- >> september -- all of the above. >> interesting because, you know, tony dwyer tweets earlier. he says the whole bull story for our 2020 target is the fed gets ahead in caps and rates go back up on a reacceleration of the economy. >> that would be great if we could get a reacceleration and solid trade deal and get some positive -- >> you're saying you think the fed will cut are you doubting whether it will work >> no, we're still forecasting the market could get to 2900, right? so -- and we don't see a recession. so -- but we do feel that the fed has to continue to cut in september and

stocks dip into negative territory here dom chu joins us with a breakdown of today's action overseasbroad-based rally across the atlantic, but it did lose a little bit of steam going into the close. all five major averages are set to close in territory. but italian stocks are the standout performers. the country's leaders grow closer to forming a new coalition government over there. optimism taking hold, perhaps, a bit. the center-left democratic party and five-star movement are poised to select giuseppe conte. he had offered his resignation only a week ago. yields on those italian ten-year government bonds hitting their lowest level since september of 2016, reflecting somewhat of investment optimism that a coalition government could help reign in the government's budget deficit and ease tensions with the european union still, though, jon, those european forces, most of them positive, lost steam into their close. back over to you, jon. >> all right thank you, dom now let's get to courtney reagan for a news update. >> hi, jon here's what's happening at this hour puerto rico has declar

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my stay here and it was a dom is almost over but there's still one thing on my to do list. to face up to the late 19th century fishing was the islanders livelihood i mean kozel where fish was made more durable by coding at what solves food conservation kept the island's mostly poor population from starving in winter to date the historic salt cuts are under a preservation order. and $991.00 the family restaurant cause it was a bad situation to. stores but here at the fish. and smoked that's typical for a who's a doctor and masters smokers is going to show me how it's done. you go to how do you prepare the fish for smoking does it have to be salted or otherwise spice to move them over 1st we couldn't. get to try it just like we have here. how long do you leave it hanging. for now it's just a drive when smoking fish less is more smoking the next time you. well we're going to play them because. they know which types of fish are particularly good when smoked but here we have even salmon. and below that's part of the that's one of us are here. once the fish is dry in the oven is

my stay here and who's a dom is almost over but there's still one thing on my to do list.eat fish up to the late 19th century fishing was the islanders livelihood i've been kozel where fish was made more durable by coding at what solves food conservation kept the island's mostly poor population from starving in winter today the historic saltcoats are under a preservation order. and 991 the family restaurant because it was odd so to open it. but here at the fish. and smoked that's typical for a who's a dog and master smoker is going to show me how it's done. and he will how do you prepare the fish for smoking does it have to be salted or otherwise spice to. first we cut it into the night to try it just like we have here. how long do you leave it hanging. just to dry the smoking fish. smoking takes time. because. they can which types of fish are particularly good when smoked but here we have elan salmon. and below that's part of the that's how to butter here. once the fish is dry in the oven is closed for about an hour. in case you were wondering why they call it smoking. ti

getting hit hard this week dom chu joins us with a look at some names to know and i guess we shouldn't seeing they like to lend, short, borrow, long anyway, the yield curve is not working for them, right? >> no, nims, we often throw that term out there, net interest margins, all of that stuff in play for those big banks like you said let's look at how some are playing out in big market today. we saw a pretty good sell-off yesterday. one of the worst performing groups right now banc of america shares are off a third to a half a percent on pre market trading on roughly 40,000 shares. banc of america is exposed a little more than some banks in that investing and spread activity we'll keep it on those shares. also watching what's happening with citigroup shares, yes, they are xha capital markets extensive as well. those shares off three-quarters of 1% on roughly 4,000 shares of pre-market volume. then we will focus a bit on wells fargo, among these three the most sensitive, some of that lending activity and fet interest margins, those shares off a half a percent on pre-market shares as wel

kelly, back over to you. >> dom, thank you. welcome to "the exchange" everyone, i'm kelly evans. the argentinian peso is plummeting today the etf that tracks that peso down nearly 25% today. meanwhile, fresh data from china show a slowdown in bank lending and the money supply there, suggesting that economy still weakening. and back home, the u.s. ten-year sinking back below 1.7% today. let's pick up there with bob pisani who's looking at how earnings estimates are taking a bit hit. bob? >> it's a worry here, kelly. financials have been a bigger loser, that's one. but down 6% for august, as the bond yields are plunging trade concerns weighing on stocks, but particularly on earnings projections in general. industrials, reits and utilities are on the flat side today 2019 earnings, we're looking flattish is my word. up until a couple of weeks ago additional tariffs are beginning to impact estimates. energy, for example, and industrial earnings both very tied to the global economy have been coming down fast in the last couple of weeks here. energy earnings are down 21% for the third q

we'll begin with today's rally dom chu has the number >> we are near session highs right now. green across the board the s&p 500 nearly there up almost a percent and a similar move here in the nasdaq composite near session highs all in the green. it's almost like that big drop in the stock market last wednesday never happened if you just fell asleep since then, you can rest easy. take a look at what's happening right now with the s&p 500 because like i said, we've gotten back almost everything that we lost during that big drop here. however, this could be an area of near-term resistance or a potential stalling out of the market you want to watch 2946 in the s&p 500. that represents the 50-day average price for the overall index. it's a technical level that some traders are looking at with regard to kind of maybe a little bit of a stalling out period then as you mentioned the stock of the day when's the last time you saw a big cap big box retail do this up 19% in a day. it was already up 41% going into today's trade from the lows that we saw back in december up another 19% ther

and dom has a look at the market action this week we'll start with you on uber on this plunge >>well, sara, there's been debate over uber's quarter depending on who you talk to uber had a good one or a terrible one that giant $5.2 billion loss was a once in a lifetime hit due to the ipo, according to the ceo, or bigger than the combined 2018 losses for all but three of the s&p 500 companies. now coo said his company is misunderstood. >> i think we've got to do a better job in terms of telling our story to the markets i think that the company is executing very well. somehow it's not getting through the noise. >> now if there is one thing that bulls and bears alake can agree on, there's a lot of noise and when it comes to arguably the most important metric profitability, the street did not get a clear answer this quarter. i think why you're seeing the stock trade down by nearly 7%. >> thank you very much for that. the nasdaq lacking today and seema mo mode i did has one. >> once again the semiconductor stocks are leading the nasdaq lower on renewed trade risks jpmorgan put out a note sa

might stay here and it was a dom is almost over but there's still one thing on my to do list.me to fish up to the late 19th century fishing was the islanders livelihood i've been causal where fish was made more durable by coding at what solves food conservation kept the islands mostly poor population from starving in winter today be a story exalts are under a preservation order. and 991 the family restaurant because it was cited so to open. stores but here at the fish salted smoked that's typical for a who's a dog and master smoker stefan island is going to show me how it's done. and he will how do you prepare the fish for smoking does it have to be salted or otherwise spices or. will the 1st be cut into pushing so too thin that i need to draw it just like we have here. how long do you leave it hanging in there for at least 3 quarters of an hour just to drive when smoking fish less is more smoking takes time. well the work site will play them because. they know which types of fish are particularly good when smoked but here we have elan salmon. and below that's part of that's h