patrick palfrey is on set with me digging into the earnings story and eunice yoon will have the latest on the u.s./china trade talks. we started in ylan in washington with big tech and the juscrutiny they face. >> reporter: the review will scrutinize online leading platforms to see if they are harming consumers. in a statement it is said without the discipline of meaningful market based competition, digital platforms may act in ways that will are not responsive to consumer demands. the departments antitrust review will explore these important issues the review is separate but related to the doj's ongoing inquiry into whether google and apple are monopolies, it is not a formal investigation into any particular company but the department said if violations of the law are found, they will proceed appropriately. the review comes at the same time that congress is conducting their own antitrust investigation. cnbc was told they don't have confidence in the justice department to put the interests of working people ahead of billionaires we reached out to facebook, google, amazon and apple for

i'm eunice yoon in beijing. >>> let's turn now to the chief economic advisor at allianz. always great to see you.u thank r joining us tonight. >> thank you, bill. >> what in your view is the message otothe u.s. market right now when you bear in mind that long-term treasury yields are close totw year lows and now following the osaka summit we still have tariffs, 25% tariff for the foreseeable future. why areige at an all-time right now? >> three reasons. one is the truce. i like calling it the cease-fire. things won't get any worse. second, the huawei news was a surprise to the market, so that suggested an easing of tension that goes beyond the headline of the cee-fire. and thirdly, it keeps the fed in play. meaning that because the uncertaintyasn't been fundamental elicited, the fed is nlikely to cut july. so the markets like the cease-fire because calms things down without taking away the fed rate cut. >> are you surprised, though, at the lack of volatility that we've had just recently anyway? i'd say about three months ago, every time we got a trade headline we were eit

. >>> eunice yoon takes a look at what is next. ♪ >> reporter: the expectation is that over the courseweek the trump administratio will clarify what can be sold and not sold to chinese tech giant huawei. the uncertainty has become a dark cloud over the trade t tal. presidump says the two sides restarted negotiations, but the huawei issue will likely complicate them since the chinese now expect restrictions onbe huawei t lifted asart of a deal. president trump is already facing resistance to eing up on the company, which members of congress, the nation at security commity and hawks within his own administration have argued is a security threat. the talk now is of a partial ban. white house economic advisor larryudlow says approved products would mass market and not impact national security. that suggests that core 5g networking equipment would be limits. a source following the trade talks on the chinese side told me that tou chinese cld go for that though it is still unclear how national security would be fined. the chinese caught on to the contradiction in u.s. policy, reinforcing the

going to make things a lot more complicated in the discussions if they do happen next week. >> eunice yoonthank you very much for that update appreciate it. >>> still on deck, not one but two major tech companies facing outages in recent days why facebook and apple left users wanting their photos back. "wlddexcngngyou are watchi orwi ehae" on cnbc ♪ did you know you can save money by using dish soap to clean grease on more than dishes? try dawn ultra. dawn is for more than just dishes. with 3x more grease cleaning power per drop, it tackles tough grease on a variety of surfaces. try dawn ultra. it's how we care for our patients- like job. his team at ctca treated his cancer and side effects. so job can stay strong for his family. cancer treatment centers of america. appointments available now. cancer treatment centers of america. (danny) after a long day of hard work... ...you have to do more work? every day you're nearly fried to a crisp, professionally! can someone turn on the ac?! no? oh right... ...'cause there isn't any. here- (vo) automatically sort your expenses and save over 40 hou

the new nasdaq style tech index soaring in its debut our eunice yoon is in beijing with the latest.s this really going to be china's version of the nasdaq? >> reporter: that's what the chinese government really hopes it's going to be the board is meant to lure away big listings from places like new york as well as hong kong to here in shanghai 140 companies, chinese startups, have applied to list on the board. so far today 25 of them made their debut. and this step is really seen as a way to push forward china's effort to reform its capital markets. in fact, it helps to solve two problems that a lot of chinese tech startups have one is that the ipo rules have been seen as very, very restrictive, for example, a company like luck-in, the starbucks rival and chinese startup has to go to the nasdaq in order to raise money. secondly the other problem we hear about here, venture capitalists want to invest in chinese startups haven't been convinced about how they're going to get their money out that's one of the reasons why some of these companies were interested in listing on the board be

eunice yoon has more >> shares rose as much as 25% for china's version of the nasdaq the star marketgy innovation board is meant to help shanghai lure listings away from the traditional markets like new york and hong kong they have applied for the board with 25 debuting today and raising more than $5 billion the star market is seen as a big step towards reforming china's capital markets because its listing rules are much looser. companies don't need to prove they make profits. the government plays a smaller role on the approval process >> the star board has good future why, because actually china is focussed more on technology, more on the true, original innovation, right? so the the country so so big you have more than 1 billion people we're doing the laser, of course i want to do this hardly with the chinese theater. but i got to do this in china, this is my home market, my domestic market. >> the chairman said he hoped more foreign investors would eventually take part to help professionalize the exchange but for now, many international fund managers say they're in a wait and see m

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thousands of supporters on the streets demanding he became prime minister instead of socks in pushing eunice yoon pilot in a velvet revolution. he immediately set about tackling corruption with high profile cases like the mayor of yerevan his numerous mansions were filmed by a drain the video of which went viral on the internet. people were incensed belong there but these are options to push you know that those films should be should just near us to be real well those are 2 thirds of those that still in the cup. in order to see you. probably was to become from the in you bus on the rules of the. culture of corruption came from the soviet era and it was and it wasn't fought with in the early stages ah army as independence just like it was the case on other in other countries it became a norm. the mining industry and body thought corruption say activists extraction permits given by politicians without due process or proper scrutiny had terrible environmental consequences. the armenian environmental front of volunteer group mom says pollution levels of mines across the country including country run

you kn eunice yoon is in shanghai. >> reporter: china unveiled its own version of the nasdaq today. it is meant to lure listings away from new york and hong kong here to shanghai. 140 cnese startups making everything from lasers to solar cells have applied for the board with 25 going public today. it's seen as a big step toward pital market reform here and solves two big problems for chinesestartups. the ipo rules have been so strict that companies that don't make money choose to go to the nasdaq and venture capitalists who have been scared of investing in chinese tech now see a clear way to get tir money out. chinese firms that l t on the star don't need to prove that they make profits. the government plays a small role in the ipo approval process and stocks are traded more n freely. forevestors can buy in on a restrted basis. i spoke to the chairman of one r stp who said he hoped more foreign investors would eventually take part to professionalize the exchange. for now most international fund ma say they are steering clear with the stock pricesti s vo most of the stocks ended high

thousands of supporters on the streets demanding he become prime minister instead of socks and pushing eunice yoon pilot in a velvet revolution. he immediately set about tackling corruption with high profile cases like the mayor of yerevan his numerous mansions were filmed by a drain the video of which went viral on the internet. people were incensed glaucon that there's your options to push an additional new. dish in your us 3 little well those 2 thirds of those that stuck in the copy. well not all. private lives to be something that in your bus on the. culture of corruption came from the soviet era and it was and it wasn't fought with in the early stages all army as independence just like it was the case on other in other countries it became a norm. the mining industry and body thought corruption say activists extraction permits given by politicians without due process or proper scrutiny had terrible environmental consequences. the armenian environmental front a volunteer group mana says pollution levels of mines across the country including kinds iran are manias biggest we have many mines in ar

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for "nightly business report", i'm eunice yoon in beijing. >>> believe it or not, it has been 25 yearsce amazon launched as an online book seller. today it is tge l e retailer in the u.s. and it made its founder, jeff bezos, the rld's richest man. but the next 25 could take the company in a new direction. deidre bosa has more. >> reporter: 25 years ago today jeff bezos filed paperwork to create what was originally called cadabra inc.. the company has disrupted entire dustries from publish to retail to cloud computing. it has become one of the largest companies in the world. today it is worth close to a market dollars in value, second only to microsoft. the next quarter century though is likely to look ery different. amazon is making big moves in a number of new industries. groceries with its acquisition of whole foods in 2017, health care with its pill pack purchase, and joint venture with morgan and berkshire hathaway. there'slsodvertising smart homes, even ironically brick and mortar with the growing physical footprint of bookstores, convenience stores and pop-ups.t as amazon sets ou

eunice yoon has he stor >> reporter: despite the trade war, the seattle native is making his best pitchiherries. >> is the second largest china le fruit market in and every year he comes to shanghai to talk to importers to get a sense of what the appetite isn china for u.s. cherries. >> reporter: china is a critical market for the herrygrowers, making up more than a third of total exports so they feared the wot when beijing raised the retaliatory tariffs on their cherries, forcing cost up onve average 60%. overall volumes plunged to 40% on the trade war but farmers are stil making money. so far chinese importers like george liu haveeen willing to eat the extra cost. >> but because of the tariff, the u.s. cherry right now in tds market no be selling at a higher price. in the end, it will reduce demand a little bi but chinese people are willing to pay for premium product. >> reporter: to keep people here buying, who isapping into the chinese desire to live a healthier lifestyle. >> we try to push the healthag meof cherries and the lifestyle of u.s. and northwest. we try to sell them the i

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guys >> eunice, thank you eunice yoon in beijing for us, outlining some of the things we don't know > >> and the difficulty in understanding where each side is coming from. >> i love eunice's reporting again, i want to talk about the idea of what the hard-liners thought would happen going in. and the people who are short here and the people who believe that there was not going to be an agreement i think are quite wrong. i think the president changes things >> the president what -- >> changes stance. there was a belief there would be a 10% tariff coming and that huawei was an outlaw for the president to turn around like this must have meant that there is something afoot if you don't think so, you really think that the president just got had, now the president did feel very had after buenos aires. it is hard for me to believe that he's going to let himself feel be had this time. >> yeah. >> hate him or like him, he knows he got had in buenos aires. and the idea this was not that important, which i meant over and over again, not that important, foolish foolish to say not that important.

eunice yoon, bay sieijinbeijing. >>> german industrial orders fell 2.2% in may the data come pounds the negative picture for europe's largest economy. german's economy ministry warned industrial orders are likely to stay low in the coming months. let's bring in neil shirring do you see any meaningful resolution between the u.s. and china any time soon? >> i think it's unlikely i think discussions will ebb and flow we're in a truce now when it was focused on the narrow issue of the trade balance between the u.s. and china, it was quite easy for beijing to say we'll buy a bit more soy and energy from the u.s., we'll close the deficit. as soon as it started to shift from the narrow issue of the trade balance towards the more thorny issues around tech, industrial strategy, intellectual property, national security, that's much more difficult ground much more intractable problems i think the idea we'll get some shifting on those issues is difficult to envision. i don't see a major break through. >> there may not be an easy answer to this question. what does all this do in your view to the psy

you can open up and expand your business here because the licensing process could be arduous >> eunice yoonthank you very much for that update >>> in other trade headlines, the u.s. is stepping up pressure on the eu in a long-running trade dispute over aircraft subsidies. the u.s. trade representatives office is proposing $4 billion in additional tariffs on european goods the list includes things like olives, italian cheese and, yes, scotch whiskey that's on top of the products worth $21 billion announced back in april the u.s. and european union have been threatens to impose billions of dollars in a tit-for-tat tariff conflict. planes, food, all sorts of things in a 15-year fight with the wto over subsidies given to boeing and airbus. >>> let's head to brian sullivan in vienna, austria, for the latest update on what's happening with the oil markets the big question is, is there a production cut deal extension in place? it's unclear >> there is a production cut extension deal yesterday was epic everybody thought you will go to vienna, it will be a couple hour meeting, it's in the bag no pro

eunice yoon filed this report looking at the numbers from beijing. >> reporter: rising prices continueo push up chinese consumer inflation the cpi for june rose by 2.7% from a year ago matching a 15-month high seen in may. producer price issued zero growth raising concerns about further weakness in the factory sector and the overall economy those worries will likely be o the minds of chinese negotiators. vice premiere and the commerce minister spoke over the phone with their u.s. counterparts beijing has signaled through the state media that it wants to prioritize getting all of the currently imposed tariffs removed, whereas, white house economic advisor larry kudlow believes china needs to make purchases of american agricultural products right away. >> the president in a good faith showing has indicated that we will cease any new tariffs, any new tariffs. important point. now president xi is expected, we hope in return for our accommodations, to move immediately, quickly, while the talks are going on on the agriculture front. it's good faith that it would be real transactions. >> you

morning post, the local paper, so it does have other investments in the city. >> eunice, thank you eunice yoons take on all of this goldman sachs macro research asia chief equity." good to have you here. i don't know if you had a chance to listen to mr. navarro as well. >> i did with great interest. >> anything strike you >> i guess a couple of things. one, our view, was very happy to hear validated, this at least gives a window for markets and at least in the short-term constructive that we would put a piece out yesterday. i think relative to what market expectations were going into the g-20, there was a mild upside surprise in terms of getting more negotiating space, not having a 10% tariff put on that so-called list for and mild concessions on huawei, which you were discussing. so the key point i like to make from an investment standpoint is that we have a market-based indicator of how optimistic or pessimistic the market is with regard to trade. we update it daily going into the g-20, it was suggesting only 18% chance that the market was pricing of a trade deal moreover investor positionin

eunice yoon is there now and joins us with a look at the trade war fallout.d to see you. >> great to see you, too you know, american farmers have been hurt by the trade war yesterday i got a chance to talk to somebody who works on the front line he's the international director of the northwest cherry growers. he's here on a multi day marketing blit toz get more chinese to buy american cherries despite the tensions >> this box here is an ideal quality. >> reporter: despite the trade war, keith hoo is making his best pitch for american cherries >> china is very important >> reporter: this is the second largest wholesale fruit market in china, every year keith comes to shanghai to look at where the appetite is for cherries cherries makes up a third of exports so they feared the worst when tariffs were raised last year on their cherries overall volumes plunged by 40% from before the trade war. but the farmers are still making money. so far chinese importers like george liu have been willing to eat the extra cost >> so because of the tariff, the u.s. cherry in the