r "nightly business report", frank holland. >>>er l prices hurt jm smuckers results.we begin tonight's market focus with the food company missing earnings expectations as prices for two key products, coffee and peanut butter, fell. it is facing increased competition in its competiti food business for pets. the company cut its full-year forecast as a result and that sent shares lower by more than 103.69. astra zdenek au was granted fast track approval status by the fda by one of the drug drugs. the company attempted to get ito lar diabetes drug permitted for use. the stockas up a fraction to 44.88. a report out today says revlon will reach out to potenti bidders next month as it looks for a buyer that it hopes can turn around the strgling cosmetics company. the company has been exploring either a sale of the entir company or of its major brands. shares rose nearly 1.5% today to 16.38. >>> the pizza chain papa john's has named arby's president rob lynch as its new president and ceo. lifrmg wi cnch will replace the interim ceo. thpany is in the midst of a turn around, tr

frank holland has more. >> reporter: american whiskey, like ing iconic brand jack daniels and jim beam front line of the trade war. tsu.s. expor falling about 20% since the european union placed a 25% tariff on the spirit in june of 2018. nearly 60% of u.s. whiskey exports are sold there. these duties part of a retaliation to u.s. steel and aluminum. >> the tariffs are the biggest thinec affng us. we ants mate ticipate bottom li beffected throu q2. >> reporter: the ceo, the owner of the jack daniels brand, emphasizing the impact during ale european tariffs costs them more than $125 million.g >> it is havn impact on investment here in the u.s. it is havingn impact on great american brand. >> reporter: the trade group for the u.s. distilleray san escalation of the trade dispute could impact as many as 78,000 jobs. it is ending a 20-year whiskey boom for u.s. producers. >> since 1997, 1998, the u.s. and europe has really enjoyed free trade with distilled spirits, prompting 300% growth for american whiskey to europe. >> reporter: scott harris, owner of a distillery, was banking on the row

frank holland joins us with that good morning. >> good morning. the president stepping up a series of attacks on the auto industry for not backing the administration's plan to roll back standards from the obama era. they all reached fuel efficiency rules designed by climate change general motors has not signed on the california rules are looser than the obama regulations but still stricter than what the trump administration has proposed the president targeting ford in particular on twitter. he says the founders of ford motor company and general motors are rolling over at the weakness of current car company executives willing to spend more money on a car that is not as safe or good and cost $3,000 more ford is focused on acting to protect the environment while also protecting the affordability of cars and trucks experts say there's no evidence that current fuel economy standards impact vehicle performances environmental groups also challenged the notion that trump administration rules would make drivers safer or reduce costs. back to you. >>> comin

we're going to leave it at that. >> thank you very much frank holland. deck for the show, our next guest says there is a 100% chance that a recession is coming, but the question is when that's a bit trickier. we'll hear from a veteran wall street investor coming up next and then later on today, don't miss bank of america ceo brian moynihan 40asrnimjoin squawk box live at 8: ete te. stay tuned me feel sluggish.d to make but those days are over. now i take metamucil every day. it naturally traps and removes the waste that weighs me down. so i feel... lighter. try metamucil and begin to feel what lighter feels like.. introducing new metamucil premium blend, sweetened with stevia and made with all-natural flavors and colors. it's a delicious way to get your daily dose of fiber. try it today. that could allow hackers devices into your home.ys and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices connected to your homes wifi are protected. which helps keep people outside from accessing your passwords, cre

frank holland joins us with that update. >> deutsche bank will pay more than $16 million to settle foreign corruption charges regulators accused the bank of violating laws by hiring relatives of officials in russia and asia to win business in those countries. the fcc also says deutsche bank created false records to conceal the connection between employees and government officials as part of the settlement the company didn't have to admit or deny any wrong doing over the past decade the fcc cracked down on vie ratiolation the foreign corrupt practices act with multiple banks forced to face fines. >> thank you for that update when we come back on the show, the white house signaling new trade talks with china as a new round of tariffs looms a live report from the ground in china coming up next then new details in the aftermath of the incredible refinery explosion back in june that we saw. we'll fill you in on the details and in the show, much more on what to expect from fed chairman jay powell when he takes the stage at 8:00 a.m. eastern time. we'll speak with former fed governor here on worl

i'm frank holland at cnbc headquarters. wall street looks like it's going to open up higher this morning as the markets look to recover some of yesterday's big losses. a short time ago the markets turned negative after china threatened to retaliate if the u.s. moves ahead with more tariffs next month. yesterday the dow was down 800 points. investoring selling stocks and pouring into u.s. government bonds pushing the yield on the longer term below shorter length treasu treasuries, that's known as an inverted yield curve, generally a warning for the economy and the markets that a downturn or a recession is on the horizon if that happens it would be several months down the road. >>> amazon is starting a new program to keep unsold merchandise from the trash heap. starting next month the company will donate items third party customers cannot unload. it has been criticized overseas saying flat screen tvs, toys, they're being dumped in the france and the uk. >>> tiffany's is launching a high-end bling line for the man in your life

. >> coming up, the actual impact of tariffs on businesses frank holland is at a craft brewery in hackensackrsey frank. >> hey, good afternoon craft brewers say china tariffs and the increases are also increasing their prices for cans and for kegs and also impacting their plans for cap-x. coming up on "power lunch," osbrerabt e to talk to one of the ews outhtariffs on tap >>> welcome back to "power lunch. a news alert out of washington right now. ylan mui has details >> democrats are floating the possibility of another short-term funding bill to keep the government running after september 30th, and avoid another government shutdown. house democrats held a conference call on friday, and a source tells me majority leader steny hoyer floated the possibility of a continuing resolution that would last through november 22nd. another source told me the date could also be december 6th, essentially punting this until after thanksgiving now, the house has already passed 10 out of 12 appropriations bills, but the senate has not passed any. they said they were waiting until the white house inked a broad

i'm frank holland at cnbc headquarters. here are today's top business headlines. wall street will look to add to yesterday's rally. stocks jump with the dow rising more than 300 points, as the fears over the u.s./china trade war eased at least for now. although the next round of tariffs are set to go into effect this weekend. the dow is on track for its best week since june and also set to break a two-month winning streak. on today's watch list, reports on personal income, manufacturing and consumer sentiment. >>> cnbc learned walmart is opening a new clinic format at one store in georgia next month calling it walmart health. walmart health will give patients access to comprehensive and low-cost primary care, dental care, mental house counseling, labs, x-rays and hearing tests. it is in a separate clinic to give it a sense of privacy. health and wellness accounts for nearly 10% of walmart's u.s. sales. >>> and target is expanding its pickup service for online orders nationwide. shoppers who use the target app can get their purchases brought right out to their cars

i'm frank holland at cnbc headquarters. here are today's top business headlines.all street is poised to open up higher this morning, following the market's modest rebound yesterday. the dow pacing those gains thanks to walmart's better than expected earnings. still, the dow is having its worst week since may, amid growing concerns about u.s./china trade talks, a slowdown in the global economy and fears of a possible recession. on today's watch list a report on housing starts and consumer sentiment. facebook users are ewing the company over a data breach last year, they say facebook failed to warn them about the risk tied to its single sign-on tool even though it protected employees. single sign-on connects users to third party apps and services using a facebook login. the suit stems from the company's worst security breach ever last september when hackers stole login codes or access toke nls allowing them access to nearly 29 million accounts. attackers took profile details suches abirth dates, employers, education history, types of device used and pages followed.

i'm frank holland at cnbc headquarters. here are today's top business headlines. wall street is set to open up slightly lower this morning after stocks rebounded yesterday. treasury bonds continues to ease the ongoing concerns about a recession. the dow is less than 150 points away from reclaiming all of last wednesday's 800-point loss. on today's watch list, earnings from retailers home depot, kohl's and tjx, the parent company of tjmaxx and home goods. a group of state attorneys general plan to move forward with a probe of anti-trust lawsuits. it's likely to focus on whether a handful of dominant tech firms use marketplace powers to stifle competition. it could dove tail with the plans by the department of justice which announced last month its own review to focus on firms including google and facebook. >>> apple has committed to spending more than $6 million on original content for its upcoming video streaming service. "the financial times" reports the company expects to launch apple tv plus within two months that will beat disney plus to the market november 12

i'm frank holland at cnbc headquarters. here are today's top business headlines.all street is looking to end this week on a high note and snap a three-week losing streak. a busy day could be ahead as investors will be focused on a key speech later this morning from fed chairman jay powell, when he delivers his remarks on the economy. >>> on today's watch list, the government will release a report on new home sales for july. >>> gookle is shutting down more than 200 youtube channels relating to the protest in hong kong. the company is saying it found the channels tied to the spread of misinformation in a coordinated manner about those protests. this comes just a few days after twitter and facebook announced they would suspend 1,000 accounts linked to a state-backed campaign originating from inside of china. >>> and u.s. toymaker hasbro is making a $4 billion purchase, the company is buying entertainment one. the owner of "peppa pig" the popular series. it includes the brands my little pony, transformers and play-doh. i thought "baby shark" was huge, $4 billion for

i'm frank holland at cnbc headquarters. here are today's top business headlines.all street is set to open up higher, aever stocks fell yesterday. the dow dropping for the first time in four sessions as recession worries crept back into the markets. on today's watch list, a report on existing home sales and the minutes from last month's fed meeting, when the fed cut interest rates for the first time in more than a decade. we also get earnings from lowe's and from target. >>> youtube is reportedly finalizing plans to eliminate targeted ads on its main site for videos that kids are likely to watch. this could be a move aimed at appeasing the federal trade comission which has examined whether youtube violated the children's online privacy protection act through data collection and failing to protect young users on that platform. >>> and facebook is launching a new way for users to have more control over their personal data. it's rolling out a tool called off facebook activity. it lets users delete past browsing history and prevents facebook from tracking future clicks

our frank holland joins us with a look at rv sales as an economic indicator. >> 14 months since downturnlast year marking start of the decline towables, falling 20%, motor homes 23% year-to-date, another sign a recession is coming to keep this in historical perspective, five of these official rv downturns since 1981 according to tom saab research, only two in 36 months preceded recessions one before the earl '90s recession, one before the great recession. since 2009 rv sales increased when the rate on the ten-year treasury note decreased. over the past year and especially last six months, that comes to an abrupt halt. the ten-year falling by 25% in the first half of the year, overall rv shipments have fallen by 20% trends but not the whole story tariffs raised the input cost for rvs and led to price increases for manufacturers including industry leader thor and winnebago, also components a substantial expansion in the rv rental market it's estimated to have grown more than 45% since 2009 there's a number of head winds impacting rv sales so a possible warning of a recession but an indicat

anything on the global trade wars. >> thank you nasdaq helping the other major averages today frank holland the details. >> nasdaq with a best day in two weeks. american airlines a best saying it's best positioned for a fare war after the boeing 737 max returns to service apple sending out invites for what's expected to be an apple iphone release launch. mylan up 4% today. three other pharma stocks among five finishing negative and dollar tree worst after a miss on eps today >> okay. thank, thank you very much. >>> next guest says despite recent fears, stocks are mar from a top let's bring in tom mcclellan thank you for joining us. >> thanks for having me on and the beard's a good look on you, wilfred. >> i appreciate it i'm following your lead, tom let's dive in to the charts you prepared for us today. >> all the compliments are from beard wears. >> including your husband. >> what's wrong with that? >> exactly we should move on or else our bosses will be disappointed in us yield curve is a first chart to look at for us. >> yes yield curve all over the news and everybody worried the sky is

bye >> shares of philip morris falling in part of an investigation of juul's marketing practice frank holland has the story from the ceo of juul. >> social media influencers and whether minors were targeted is the focus of the probe the ftc would not comment. this report comes a day after ju, l announced a new system to prevent minors from buying the products >> the data i was looking at shows it's not only former sm e smokers you're converting. some are starting juul and have never been on nicotine bf. what's your advice >> don't vape. don't use it unless you have a preexisting relationship with nicotine you're not our target consumer >> sharing falling more than 3% on the news. they bought a 35% stake in december philip morris shares dropping on tuesday. the two companies announced they are in merger talks. juul says it cooperates with all investigations into the company adding it's never marketed to minors it released this statement our paid influencer policem er a small pilot that ended in 2018 we worked with ten adults and were smokers or former smokers over the age of 30 they control ab

crazy inverted yield curve, a warning sign on the economy is coming from out on the open road, and frank hollandhe details. frank. >> tyler and melissa, some people, they believe a downturn in rv sales can be seen as a signal that a recession is on the way, and right now, we're 14 months into a slump that started in june of 2018. so year to date, sales of towables have fallen by 20%. motor homes by 23% so just to keep this in historical perspective, there have been five rv sales downturns since 1981, according to thompson research group only two of those, both tied for the longest at 36 months, have actually proceeded recessions. one before the early '90s recession, one before the great recession. since 2009, rv sales have increased pretty dumatically, when the rates on the ten-year treasury note decrease, but this year, that's abruptly changed. the ten-year falling by 25%, rv sales falling by 20% concerning, but not the whole story. tariffs have raised input costs and prices for rvs, and they have also put pressure on parts makers that put the parse into the rvs. also have to consider the rv ma

let's go to frank holland with a closer look at one beaten down industry group and ask what the transportations tell us about the global economy and the global markets at large. >> we know the trucking stocks in general have been feeling the pinch of the trade showdown with china. yesterday facing more uncertainty as a proposal for new federal regulations for truckers was released. jb hunt having the worst day of the sector falling more than 3.5% land star, old dominion also underperforming. schneider fell 2%. they have lored fu lowered full earnings guidance. norfolk southern seeing the biggest impact during the selloff, down more than 3.5% all 20 of the dow transports finishing in the red, including fedex, down 3.75%. avis having the worst day, down 7% back to the trucks and the rails. these companies will be looking to the holiday shipping rush to boost volumes and rates. since january rates for truckers have fallen nearly 7% for contract hauls, nearly 8% in the spot market. deep declines there. >> a true indicator of the economy and what's going on right now. >>> still on the deck for the

frank holland joins us with more >>> ge is up about 1.5% this morning after the stock fell 11% yesterdayit the worst day since 2008 the move follows the report that larry culp bought nearly $2 million worth of stock this comes after ge was accused of being a bigger fraud than enron. in a report they said ge will be hiding the extent of its accounting issues, especially from the long-term care position culp said the accusations are false and driven by market manipulation, pure and simple. leslie sideman also pushed back on the report in an interview on "closing bell. >> i think the report is full of opinions, and this is one of those cases where i'm not sure that the author of the report really understands the accounting in this area. we have generally accepted accounting principles, then we have statutory accounting principles, then we have other people who just, you know, inject their own opinions. >> ge's accounting practices are under investigation by the department of justice and the s.e.c. related to its insurance business and problems in its power division the company has denied ac

frank holland is joining us now. good morning tesla adjusted prices in china several times this year in response to the u.s.-china trade war. the company currently imports all the cars it sales in china earlier this month, beijing allowed the yuan to decrease against the dollar that prompted the trump administration to label china as a currency manipulator tesla is building the first overseas factory in shanghai scheduled to start production later this year. the company expects to be able to build 3,000 model 3s a week it's estimated it sold more than 23,000 cars in china through july back to you. >> thank you very much when we come back, the real world tariff impact. while one small business index is tanking and companies of all sizes are growing more concerned. plus there's good, there's bad, and there's just plain ugly. ulta beauty slashing it's outlook. shares are in need of a makeover you have your stocks to watch coming up. that stock is down 25% right now and the interest rate impact on home buying. will this

back over to you >> all right frank holland, thank you >>> and the dow, meanwhile, looking for its thirdositive session in four. take a look on the screen at some of the names leading the wee inx gh 'rback after a quick break (vo) the ant mindlessly marches on. carrying up to 50 times its body weight. it never questions the tasks at hand. but this year, there's a more thrilling path to follow. (father) kids... ...change of plans! (vo) defy the laws of human nature... ...at the summer of audi sales event get exceptional offers now! - stand up if you are first stand up if you're a mother. if you are actively deployed, a veteran, or you're in a military family, please stand. i will tell you this, southern new hampshire university can change the whole trajectory of your life. i felt completely helpless. trashed online. my entire career and business were in jeopardy. i called reputation defender. they were able to restore my good name. if you are under attack, i recommend calling reputation defender. vo: there's more negativity online than ever. reputation defender ensures that when people ch

buyout from its second quarter loss speaking of pain, how about the transports down more than 2.5% frank holland is here to talk about what else is pressuring that sector. >> i think what else is what people in the trucking industry are thinking about now this today is the first proposal for new trucker rules in 15 years from the federal agency that regulates truckers really adding to the uncertainty caused by tariffs and plummeting truck rates. the federal motor carrier safety propos right around the market open, big truck stocks seeing a dip beyond the market. now this appears to be a fear of change more than anything else the biggest shift would be allowing drivering to split their mandatory 10-hour rest time, also permitting a break. the american trucking association says they're kind of neutral in this proposal right now. they are still digging into what these changes could mean if they are implemented. remember, this is a proposal but again another layer of uncertainty for an industry already feeling the pain with the trade war with china >> so, in other words, just as they are worried abo

. >>> frank holland?>> going back to apple, the biggest positive impact on the ndx, that it's possibly diversifying supply chain following google's lead. speaking of all the faang names in the green today starbucks and booking holdings both finishing up more than a percent higher, u.s. tech a mixed day. adobe down more than 2%, also microsoft, nvidia, activision and ea, on a personal note, thinking about growing a beard. >> i like that, frank. some support thank you very much. >>> global economic weakness headaching over the market, today brexit in the headlines. more on the negotiations in europe, plus deutsche bank out with a report saying we should settle in for a long, protracted trade war with china will they events tip the global economy into recession very good afternoon to you both. fred, i'll start with you. is china trade the biggest issue still? >> i think it's the biggest of all issues what is unusual is president trump set in motion four mega-geopolitical issues we're tracking, but china is t

last quarter >> brown foreman is the other big consumer company reporting results tomorrow frank hollandhi, mike. they are expected to report an eps of 37 cents, a 9% decline year over year the ceo lawson whiting calling 2019 the year of the tariff and saying that tariffs had a $125 million negative annual impact on the company another thing to watch for are sales of jack daniels. last year they were flat for the iconic spirit, while its premium segment including reserve showed double-digit growth. back over to you. >> thanks very much. >>> all right. we have another read on the consumer >> exactly. >> we have consumer confidence today, so we will see if it goes to the company. >> we will get another read on gdc as well. a big data week to go here even though it is coming into a holiday weekend. >> plenty of people are sitting it out that dose it for "closing bell." >> "fast money" begins right now. live from the nasdaq market site overlooking new york city's times square, this is "fast money" i'm melissa lee. your traders on the desk are pete najarian, guy adami and tim seymour. another

. >> rick, thank you very much >>> some more on today's movers in the opening half hour to frank hollandaq coming off the third negative session in the past four, that trend continuing so far in the early part of the day. costco biggest positive impact on the nasdaq 100 following that huge opening in china yesterday. monster beverage shares trading higher fox b shares performing. with fox class a shares, negative now. also trio of pharma stocks insight, amgen and regeneron a difficult start for tech intuit, broadcom and microsoft all off trading lower so far back over to you, sara. >> frank, thank you very much. >>> a headline hitting the wires as it relates to trade the u.s. trade rep, the office and the administration that carries out the president's trade orders, does confirm it will publish friday that 10% to 15% tariff on the remaining $300 billion of chinese imports coming into this country it will go into effect september 1st and december 15th. the breakdown of that list remember, president trump increased that rate from 10 to 15% last friday. also, interestingly, the u.s. trade r