jerome powell's of the american economy is a, but acknowledged that challenges remain -- jerome powell said the american economy is strong, but acknowledged that challenges remain. property prices skyrocketing. a london-based bank boosted its best lending rate just hours after the hong kong monetary authority raised its benchmark interest rates by 25 basis points in line with the fed. u.s. supreme court nominee brett kavanaugh has been accused of the most lurid sexual misconduct yet as senate republicans press ahead with lance to hold a hearing. part accuser says he was of efforts to get girls intoxicated so that boys could have sex with them. kavanaugh rejected the claim as ridiculous. at the same time, president trump dismissed the allegations as a big, fat con job. south africa's president has said his administration will pursue plans to redistribute land to the country's black majority. in an close of interview, cyril ramaphosa said he is considering whether a constitutional amendment is necessary to make it easier to -- property without compensation. >> what we are looking to do i

president trump says he is not happy with jerome powell.he would welcome the u.k. back to the u.k. -- back to the eu with open arms. for the rest of europe, and our special relationship, for friends in the u.k. for sure.

economist here and there's a lot of news made on that by jerome powell and ubs on how the wealthy and how our viewers are investing and how they should invest in this climate andy i pointed out you said wow when you saw how we saw that yield for the 10 year suddenly plum it, it's pretty interesting give us your overall sense of what you felt about jerome powell and his statement and here is the headline folks. we see another rate hike the third of this year, we'll see a fourth this year. andy? >> very good. thanks, liz which what we saw right after he started was the fact that it looked like it was a fairly doveish view they really didn't raise anything and we saw the yield curve start to steep en but as you start talking about the trade impacts and the slowing down of the economy for next year, we saw our flattening, so 10 years probably went better by about two basis points flatter and now we see the long blend down to 319. if it had closed above 325 at the end of this week it's a very strong chart point we would hate to see that break because we don't see support until close to 4%

we're awaiting on jerome powell. he is set to hold a news conference. a lot of questions reporters have for him had. a lot of things he could say that could after a effect markets. what is he thinking about trade, what is he thinking about tariffs? all of that with mr. powell and reaction to today's fed announcement. stay with me. i'll be here right after this. so a tree falls on your brand new car and totals it. and as if that wasn't bad enough, now your insurance won't replace it outright because of depreciation. if your insurance won't replace your car, what good is it? you'd be better off just taking your money and throwing it right into the harbor. i'm gonna regret that. with new car replacement, if your brand new car gets totaled, liberty mutual will pay the entire value plus depreciation. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty. ♪ this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so

what will you be looking at when jerome powell speaks?nterestingne -- the interesting one is everyone thinks it is a foregone conclusion that we will see the rate rise. the focus turns to everything that comes w with it. we will see projections from the fomc. we are looking at where they expect to see inflation going and the likes of growth going. where do they see rates going. the big topic at the moment is what the neutral rate is. that is because when we look at , there is a certain point where it tapers off and starts the flatline. that is presumably the target we should be looking at. it runs anywhere from 2.25% of two around 3.5%. greater clarity over exactly where we will stop this trajectory of rate rises will be crucial for markets today. reporter: what impression should we get about the american economy from this? growth is pretty strong and employment is still low. fully hear about trade tensions at the potential of that happening in the economy? >> i think so. the key thing is they are growing at a very fast clip at the moment

jerome powell is trying to preserve the bank's independence. our bloomberg said reporter joins us.he taking this proactive approach? as opposed to just sitting back? >> the important thing here is that he is getting political with a little p. he is not partisan. he is trying to fend off attacks from the bosses in congress. he is wearing down the carpets on capitol hill, going to see senators, house members who could have potential implications for fed related legislation going forward, to make sure they know what is going on, why the fed is raising rates, which is often politically unpopular, and to make sure they are on board with activity, or at least comfortable with the rationale. that is a defensive strategy, to make sure the fed does not get constrained and to make sure it can remain independent. julie: the bloomberg story points out that the fed is good at having a leader who is right for the time. powell is the right guy to be doing this because he already has decent experience in washington? >> this is one of my favorite points, with my colleagues wrote. he is uniquely pos

their decision is tomorrow followed by a press conference with german jerome powell -- chairman jerome that is it for "what'd you miss?" this is bloomberg. ♪ emily: i am emily chang in san francisco. this is "bloomberg technology." the dream force conference. we hear from an outspoken ceo on his new co-ceo, and the responsibility tech leaders have to shape the world. plus, filtering out. instagram founders are leaving facebook. this is raising concerns about the future of the platform and its competition with snapchat.

also slightly lower on the dowjones as well, this was off the back of comments from jerome powell, the year and three times next year. that is the speculation. up next, newsbriefing. but first a coalition of leading conservation groups have called on the government to guarantee the protection of britain's national parks. the organisations say they are alarmed that they could now be considered suitable places to bury nuclear waste. he is our environment correspondent, claire marshall. this is the controversial new power station being built in somerset. it will also produce radioactive waste that will stay active for many thousands of years. these old, rusting tanks hold old radioactive sludge. 30 years since the old station closed, no one has managed to get rid of it. currently, the uk gets around one quarter of its energy from 15 nuclear reactors but the question of what to do with the waste is still unresolved. the only permanent solution is seen as deep geological burial. the government select committee has said that the safest side should be chosen, no matter where it is. this could

jerome powell says the economy can handle it. that sent u.s.igher and they fell as bank stocks dropped. this effects borrowing costs. it means higher rates on loans and mortgages. watch the mortgage rates. i saw a mortgage rate at 5% yesterday. >>> uber will pay $148 million fine. settling the investigation of the data breach. hackers stole information of 57 million users. the investigation claims uber concealed the breach. the fine is the largest ever for a multistate data breach. >>> mcdonald's is stripping all extraneous from the burgers. it won't cost more. it will absorb the price hike. customers want healthier options. this is the latest change. like switching to fresh beef. the only pickle is the pickle. it is still made with artificial preservati preservatives. >> quarter pounder with cheese gal? i got to write this down on my romans notes. >>> i'm hungry. >> "early start" continues right now with an historic day on capitol hill. >>> a major chance to speak. no, it's possible i'll hear that and i'll say hey i'm changing my mind. >> toda

after jerome powell and the dots. under the bus and said i don't look at the dots. the you look at the dots? >> i have stopped looking at the dots. i thought it was a silly idea to begin with. i refuse to look at the dots. tom: this is the fed we are seeing now versus what we knew with chairman greenspan, which was my way or the highway. i hate to use the word communal. this is a communal fed. is a european phrase. >> it sounds leftist in orientation. and you are wearing a ferragamo tir. >> my wife supports ferragamo on her own. francine: do you look at the phillips curve or is it broken are dead? >> it's broken. i assume it is dead. francine: when does it come back? >> i think it is gone. he actually puts his trades and track record in the back of his newsletter, so he is the street and yada. >> they beat on me a lot. what wet do we do if observed yesterday. are you fully invested? 100% in cash? what do we do. francine: you should be longer on bonds. tom: lower yields? >> i think rates go lower rather than hire from

>> jerome powell has talked about this several times since he became president. might want to look at the speech he made in zurich if you months ago. u.s.rgument is that the fed will do what the u.s. fed will do. u.s. unemployment is the lowest in decades, manufacturing this week surging up. it would do what the u.s. needs and the rest of the world, the emerging markets elsewhere should put their houses in order. it is hard when you look at somewhere like turkey and argentina where there are fundamental weaknesses as well as political issues. it is pretty hard to then say to the fed, you are need -- the ones who need to do the work to help out. francine: when will the bleeding stopped? i know -- when will the bleeding stop? i know it is the million-dollar question. >> the fear is so intense right now that people don't want to make any predictions. when it is pushed to take a call on this, we could say that if mr. trump sits down with anddent -- president xi hammers out a trade deal, that could help the yuan stabilize a bit and help the rest of it emerging markets

the third point will be how does jerome powell characterize growth? we will get much of what we saw in is jackson hole speech. the fourth, and probably will moves the markets the most, is the dots plot. we have another year. i think we look at consolidation around 2018 and 2019. the longer run dot, the addition of the new members potentially brings down some of those figures. that could be a dovish outcome for the market. krishna: i think jeff is right. there is potential to look at the long-term dots and come to a dovish conclusion if you're that way inclined to begin with. having said that, i think if you kind of think the fed is data dependent, there really has not been any softness for them to give us any concert on the dovish front. we think they will eventually do that and turnaround the first half of 2019. for that we need to see a little bit of data for it to come through. jonathan: what do you make of the 2020 obsession that is emerging between economists? jeffrey: part of it is the fiscal math. they could see into 2020 that you are mathemati

we heard from jerome powell they were raising rates. we were waiting for the press conference with jerome powell. money was moving into the markets. it all changed. i want to look at the financials. this sector really saw a lot of money coming out later in the day. look at this, all major financial stocks, b-of-a, goldman, jpmorgan, all down 1% on theory if there are continued rate hikes that could maybe affect u.s. economic growth. that is in fact financial sector. where did all the money go? went into the safe havens. look at 10-year treasury yield. at one point the 10-year was 3.11% earlier this week. look at that, as money poured into the bonds, into treasurys, prices go up and yields go down, down five basis points on the 10-year at 3.05%. as for other stocks, look at shares of twentieth century fox, parent company of fox business, up more than 1% today, just right at 1%. this after announcing it will sell off its entire stake in the uk broadcaster sky to comcast. fox had a 39% stake in sky worth about $15 billion. guys, back to yo

fed chairman jerome powell said the economy is strong, unemployment is low and wages are up.ater the president complained that the rate increases could stifle his efforts to boost the economy through tax cuts and deregulation. mr. trump told reuters, i should be given some help by the fed. powell's response, quote, we don't consider political factors or things like that. >>> stocks on wall street finished lower. the dow fell 106 points. the s&p lost 9. the nasdaq gave up 17 points. >>> president trump said he's so frustrated with ongoing trade talks with canada he rejected a meeting with canadian prime minister justin trudeau. speaking in new york yesterday, the president said he's unhappy with the canadian negotiating style. canadian tariffs are too high and trudeau doesn't want to seem to move. the president reiterated his threat to tax cars coming from canada, what he calls the mother load. meanwhile, imported steel and aluminum will cost $1 billion through next year. ford gets most of its metal through u.s. producers. they raised prices due to the tariffs. >>> amazon is o

." >>> federal reserve chair jerome powell announced an interest rate hike at a news conference this week. it comes after the federal open market committee met to discuss economic conditions and what monetary policy actions are needed.

chairman jerome powell called theon economy s and says he is not concerned about inflation. the upbeat outlook led the central bank to increase the forecast for growth this year andsf next. eef liesman is in washington with moren the decision. >> reporter: the federal reserve raising interest rates by a quarr percentage point as expected to a new range of 2 to ng another ut signa rate hike is coming december. fed chairman powell was clear why they were taking theoue of action. >> you're economy is strong. growth is running at a healthy clib. unemployment is low. the number of people working is rising steadid. wages are up. inflation is low andl stable. f these are very good signs. >> reporter: amid expectations for the good times to continue fed officials on average forecast the rates raise another 75 basis points next year and finish above 3%. but powell said there areouisks there to raising rates and risks to not raising rates. >> if we move too quickly we can snuff out a recovery unnecessarily. and inflation falls short o the 2% target. or if we move too slowly we have an

fed chairman jerome powell may offer insight about next year's plan as well as an economic forecaforecasto twenty twe. u.s. confidence hit an 18-year high, the latest in data pointing to a strong u.s. economy. the dow last 69 points, s&p shed 3, while the nasdaq gained 14. delta air lines has said it has cleared up a technical issue that grounded its planes in the u.s. last night. the delta ground stop lasted an hour. it's unclear how many passengers, wre affected or what caused the problem. delta says the impact on this morning's schedule is expected to be minimal. >>> bmw says its sales and profits will fall short of forecasts for the year. the german luxury automaker now predicts a 7% profit margin per vehicle below its target range of 8% to 10%. they blame the impact of new dir diesdiesel emissionn europe and uncertainty over escalating global trade conflicts. bmw shares fell about 5% after the announcement. >>> and arby's is buying the sonic drive-in hamburger chain. it is paying $2.3 billion for sonic. sonic will operate as a separate business unit with the same managers. there are

let's head to jerome powell at his news conference. >> good afternoon, everyone.being here. i'm going to start with an overview of how we see the economy and our expectations for the months ahead our economy is strong, growth is running at a healthy clip. unemployment is low, the number of people working is rising steadily, and wages are up inflation is low and stable. all of these are very good signs. of course, that's not to say that everything is before. the benefits of this strong economy have not reached all americans. many of our country's economic challenges are beyond the scope of the fed my colleagues and i are doing all we can to keep the economy strong, healthy and moving forward. that is the best way we can promote an environment in which every american has the opportunity to succeed each time my colleagues and i meet, we face the same question. how can we set policy to best support job growth and low steady inflation >> for many years, this question called for low interest rates to help in an economy that had been damaged by the deep financial crisis

host: the president has been critical of the chair jerome powell because he says he doesn't like the interest rates. is that appropriate? guest: there is a big debate about that. the president has the right to speak out about said policy. the president is the ceo of our national economy and why shouldn't he be able to express an opinion? everyone has an opinion about what the fed should do. if you watch fox business news are you watch cnbc, that is all they talk about. i think the president should weigh in. i happen to think the fed does not need to be raising interest rates now. we have 4.5% to growth and low inflation. that is perfect, that is what you want. ingorry that the fed is tak the punch bowl away from the party just on the party is getting going. goingis concerned that is to reduce wages and that is not what he wants. donald trump is a pro blue-collar working class american worker president. thosees a lot about people in michigan, ohio, pennsylvania, the people who did not feel a recovery so that is why he has been protesting. host: we so what happened in 1989 when the sto

this is in the face of the president's criticism of the fed chief jerome powell saying they should give more help. we come back from the break with stocks near record highs, but a lot to look at here. >>> "early start" continues right now with the tropical storm in the gulf and a political choice for nike. >>> tropical storm gordon barrelling toward the gulf. 2 million people under advisories. expected to become a hurricane later today. a new update from the national weather service is under way. >>> the brett kavanaugh confirmation hearings begin this morning. democrats have a four-point plan to challenge the supreme court nominee. can they lay a glove on it? >>> the president targets jeff sessions again. this time he slams the attorney general for not placing allies above the law. >>> nike throws its support now part of the iconic marketing campaign. twitter is lit up this morning. everyone has a side in this story. the nfl season starts in two days. welcome back to "early start." i'm dave briggs. >> i'm christine romans. it is tuesday morning. it is 5:00 a.m. in the east. let's start

few weeks ago trump made comments in which he seemed to be critiquing the chairman of aboutd, jerome powell, interest rates, which caused a bit of a hoo hah among wall street circles, that the president was getting involved in that. and the bank of the united states, jackson saw the bank of the united states is a corrupt monopoly that financed credit, money was centralized among the wealthy in very few hands, and jackson wanted to tear down that monopoly. and the problem with the bank that supporters of the bank war did not agree on the best alternative. some supporters of the bank war believed we should have totally decentralized banking and bank notes issued by anyone who really wanted to issue them. that was an alternative called free banking. other people were against all banking, altogether. jackson was probably in that group. and he referenced abraham lincoln. printed ancoln greenback currency issued directly by the treasury and not by a bank or a central bank, and of course our currency today is issued by the federal reserve, not by the u.s. treasury. far as why trump hank andrew jac

gains tax break, the wto, tech and google and facebook, the president's feelings about fed chair jerome powellnd his embattled attorney general jeff sessions. >> he is combative, confident. he he radiates a confidence not everyone agrees with, but he feels he is winning the biggest battles. he is not done thinking of new ideas. he wants to rewrite trade rules around the world. president trump: i would say the wto was the single worst trade deal ever made. if they don't shape up, i would withdraw from the wto. >> he was particularly bellicose on europe. the fact that he immediately rejected the offer from the europeans to go to zero tariffs on cars was interesting. he said that was not good enough, i want a much broader deal than that. president trump: the european union is almost as bad as china, just smaller. >> the overall impression of someone feels the world is going in his direction. for better or worse, that is the president america has at the moment. >> president trump says he is optimistic a deal will be reached by today's deadline. canadian officials are raising serious doubts. >> we

jerome powell saying the economy as a bright moment, but challenges to remain. >> our economy is strong. growth is running at a healthy clip. the numbert is low, of people working is rising steadily and wages are up. inflation is low and stable. all of these are very good signs. of course, that is not to say everything is perfect. the benefits of this strong economy have not reached all-americans. yvonne: in asia, the philippines and indonesia are in focus with the central banks expected to raise rates. analysts say the decisions about whether to hike is about how much. rishaad: we are joined from singapore. david, what do you make it up -- of it all? david: the key thing here is on what has been going on with the federal reserve and how much is not fully priced in by the markets yet, but how interesting that the fed didn't want to shop the markets by making much of a change at all to its messaging. we expect we will see four rate hikes next year after not -- another one at the end of this year, above what is priced in. that doesn't mean necessarily it will mean broad-based dollar stren

jerome powell has said america first. fed always has to focus on the domestic u.s. economy first.t's the nature of a central bank to look inward first. all over the world and here, too . if the fed starts to see trade war effects that are slowing growth and they start to see more inflation, at the same time, their task becomes much harder, and i believe the fed is commenting about that. you see it in the beige book and in reports. but to change action requires them to see the whites in the eyes of the perpetrators. ramy: and we are not there yet. david: not today. ramy: will hold on to that thought. david continues to stick around with us as our guest host. bloomberg users can interact with the charts shown using tv . for yourave the charts own future reference. this is bloomberg. ♪ ramy: welcome back. let's do a check of the business flash headlines. for remains optimistic after month that saw underwhelming sales from other automakers. analysts were expecting a slight decline. honda extended a bleak stretch for one of the best sellers, deliveries of the accord as demand for s

closely at the language in the report and we'll listen closely as they interview and figure out what jerome powell to say this is telling us the economic expansion is intact. i had dr. jeff lacker on my podcast last night, the farrcast is what we call it he's former president of the richmond federal reserve he says four more hikes? yes. he thinks six to seven, maybe eight to nine. he's hawkish that was big news out of lacker. he has not been out a full year yet. so he knows those personalities. that can take those fed fund rates up to 3.5% he doesn't think that would be out of the realm at all. >> i heard your name was farr out, maybe that name was taken what would be the best case scenario for the fed a rate hike, muted conversation about inflation or what? >> i think to say -- one thing that you'll see go is the language about, you know they're still -- that policy is still accommodative. that language is too dated when they raise rates, they're not accommodating. that language will probably go i don't look for any other major changes. the less the fed does, the more they stay out of the way, th

the fed chief, jerome powell, speaks today at 2:00 p.m. eastern time. the central bank expected to raise rates for now the third time this year. on wall street, the dow and s&p 500 closed lower. the trump administration once again talking tough on trade. the top u.s. trade official warning canada it has until this weekend for nafta renegotiations, and time is running out. if ottawa does not agree, the u.s. plans to move forward with or without canada. that's right, a nafta without canada. >>> nike's summer sales were strong. a hot streak that predates colin kaepernick and the ad campaign. last quarter nike sales grew double digits, profit up double digits, but investors seemed to want more. nike shares fell 4% overnight. they could see a bigger boost this quarter. these results were before nike made colin kaepernick the face of its "just do it" campaign. the former 49ers quarterback sparked a fire storm when he knelt during the national anthem to protest police brutality. he's not played in the felt n since 2016. nike says kaepernick is a win with young

think the reassessment has to come from the fed, jerome powell.may have to tighten through neutral. they will continue to reassess, but what is the outcome? carry on. the dollar will carry on rally against g10 and currencies to some extent in emerging markets. fed look atould the the route or contagion in emerging markets and try to temper the dollar's rise? >> the feedback loop has not been particularly acute in the u.s.. risk appetite in the u.s., i don't think there is enough pain being felt in the u.s. as a consequence of em for the fed to feel this should be the chief determinant of rates. we are not there yet. tom: frame the biggest bet on the street. what is the biggest bet in place for the street? >> what is that trade right now? skepticism on the dollar. euro-dollar higher. is getting towards the end of the cycle, the ecb has not begun, therefore i want to buy the euro in anticipation of that happening. it will happen at some point. francine: thank you so much. hsbc stays with us. bloomberg users can interact with the charts in gtv .

>> the rate hike is forecast for later this month in the face of the president's crediticismsf jerome powell ahead in september. historic month is september. we will see. >> you need to get nafta done. >>> believe in something. ea even if it means sacrificing everything. nike with the powerful ad campaign with powerful words from colin kaepernick. and knowledgeable, hassle-free mattress professionals, sears helps amily on the way to a good night's sleep. we'll take it! the sears labor day event. going on now! whenshe was pregnant,ter failed, in-laws were coming, a little bit of water, it really- it rocked our world. i had no idea the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're the baker's and we're usaa members for life. usaa. get your insurance quote today. you never listen to your dad when you're a teenager. my dad- he always gave me two pieces of advice. one was to always be humble.

if we expect a rate hike, i guess all the eyes and ears will be on jerome powell's press conference whato hear the federal reserve chief say? >> i think what you'll hear is a lot of discussion about risks, all of the things dominating headlines. but i think the main message and thrust should be that the u.s. economy at present is doing just fine labor markets are quite healthy. inflation is in the neighborhood of their target. i think the message is going to be that means we keep going. i think those that are looking for signs or hopeful that there might be a pause out here will be disappointed. i think on net it will be more of a stronger message than a soft one >> why do you think we're so much more focused on the trade fights and tariffs which as an absolute number are miniscule and not more on interest rates going up on what is a heavily indebted united states from a corporate and personal perspective? >> most people looking at the tariff story say the overall costs are modest but that, i think, belies two things one is that the costs are heavily borne by the consumer. so it's easy t

faces so let's meet the new fed here of course on the federal reserve board of governors, there's jerome powelland he was -- you can see what the administration has been doing here, picking people with different expertise. richard clarida will be in the meeting for the first time richard quarles and there's lael brainerd and we asked where do the guys stack up in terms of the hawk/dove index. you can see most people see these two new folks in the middle of the spectrum they're pretty much in line with quarles, just a touch more hawkish. then let's look at the nominees. there's nellie lang from brookings, 30 years at the fed, was in charge of financial stability. michelle bowman. kansas state backed bank commissioner and marvin goodfriend whose nomination hangs out with opposition in the senate he is a bit more hawkish as you'll see in the next panel he's the one nominee from the trump administration -- people are pretty surprised how centrist these nominations have been marvin goodfriend the one hawkish person nellie liang very much in the center of the board. where is the center of this board?

that's where the fed comes in and jerome powell comes in.it's this big, complicated picture that it seems like you can really tug at both ways. but obama wasn't factually wrong. trump isn't wrong about the fact the economy is doing fine. >> you know what else happened. inequality in this country continued to increase. no bank ceo was held accountable for the financial crisis and the voters that elected trump in ohio, michigan and pennsylvania didn't feel their lives were improving. they didn't bargain for this craziness that they're getting with donald trump -- >> but they wanted somebody to try to shake it up. >> exactly. >>> coming up -- president trump under oath? the president has reportedly agreed to provide written answers in a defamation lawsuit filed against him by a former apprentice contestant. we'll explain next on "kasie dc." >>> cbs ceo chairman les moonves >>> cbs ceo chairman les moonves is stepping down today. the new yorker reported that six additional women have come forward accusing moonves of sexual harassment of assault.

. >>> global markets under pressure this morning after jerome powell and the federal reserve raise ratesr. >>> and a live report on whether rate hikes may be on the way. ♪ ♪ memories. what we deliver by delivering. so shark invented duo clean. while deep cleaning carpets, the added soft brush roll picks up large particles, gives floors a polished look, and fearlessly devours piles. duo clean technology, corded and cord-free. this is moving day with the best andin-home wifi experiencees. and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. >>> welcome back. let's turn to business. the central bank raised interest rates for the third time this year. cnbc's karen cho joins us live with more. he said it's a particularly bright moment for the

jerome powell speaks at 2:00 p.m. eastern.t rates for the third time this year. on wall street the dow and s&p 500 closed down. the trump administration once again talking real tough on trade here. the top u.s. trade official warning canada it has until this weekend for nafta renegotiations, and it is running out of time. if ottawa does not agree, the u.s. plans to move forward with or without canada. imagine north american trade pact without canada. >>> nike's summer sales were strong. it's a hot streak that predates colin kaepernick in the ad campaign. last quarter nike sales grew by double digits. profit also up strongly. but investors seem to want more. nike shares fell 4% overnight. they could see a bigger boost in sales this quarter. the results that just posted were before nike made the colin kaepernick ad campaign, the face of its "just do it." the former 49ers quarterback sparked a firestorm when he dwelt during the family to -- knelt during the national anthem to protest police brutality. nike says cap nic kap -- say

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but investors will be playing close attention to whatever jerome powell says about the path going forward. winding down on the day is the homebuilding index, this 2% loss today adding to a strained out 70% on the month, and we look at some of the individual movers in that sector. haley homes reversing earlier games, wind become sales data this morning -- and weak home sales data this morning causing that fall. economists are noting a downward trend, even the fed noticing the downside risk. that is dragging toll brothers and pulte homes down as well. in the gte library, this is showing what the downward trend has done to these companies' valuations. this is now sitting at the worst in a year, but i more positive story today is biotech. the nasdaq while index, biotech index up on the day. alexi and pharmaceuticals up almost 5%. acquisition ase a strategic, saying it could manage to a $2 billion valuation. zeneca areand as for also out with that increase today. david: up next, he met with president rouhani after strong words from president trump at the podium today. that's next, and this is

this is despite the prospect of an inverted yield curve according to jerome powell the fed chairman toldn audience that the central bank's model suggests the economy will keep on growing. his comments come after the fed raised interest rates for a third time this year, also removing its accommodative stance an inverted yield curve when short-term rates on u.s. treasuries rise above long-term levels is often seen as signaling an economic downturn >>> and justin trudeau has hit back at president trump's criticism of nafta talks saying discussions are slower because canada is a tough negotiator on wednesday trump hit out at the pace of talks and threatened to impose auto tariffs on ottawa, however trudeau appeare optimistic says a deal is still possible >>> i'm happy to say with me to discuss is bill denning from waverton investment management let's start off by talking about the trade wars and the never-ending discussions on the part of nafta. but from an investor standpoint, do you feel even though the talks are dragging on, eventually we'll get to some form of a solution and it's not as

at 2:30 chair of jerome powell will hold his annual -- not annual but frequent press conferences. we'll cover that the outgoing chairman jeb hensarling will join us. he's a critic of tariffs he has been a critic of the fed. we'll talk to him about that and hearings on the hill looking into big tech and data privacy scott galloway will join us as a guest to analyze what's going on on the hill with data privacy. that and all the latest news on a special edition of "power" from d.c see you then you're still here? we're voya! we stay with you to and through retirement. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. so, that means no breakfast? voya. helping you to and through retirement. [kno♪king] ♪ memories. what we deliver by delivering. when you rent from national... it's kind of like playing your own version of best ball. because here, you can choose any car in the aisle, even if it's a better car class than the one you reserved. so no matter what, you're guaranteed to have a perfect drive. [laughter] (vo) go national. go like a pro. see

jerome powell is probably not a lunatic. hopefully he reins in the troops. liz: good to see all of you guys. battening down the hatches with the closing bell ringing in 46 minutes. we talked about the storm surge. what about flooding from the potentially deadly hurricane florence? it is already hitting the carolina coast. this as residents flood into home improvement stores like north carolina-based lowe's. we will take you to the eye of the business storm. the woman coordinating lowe's efforts to keep shelves stocked with generators, flywood, water and more. >>> while people rush to protect their possessions from the hurricane, one company has come up with the ultimate password to secure your digital assets. one it says is absolutely impossible to replicate, guess or steal. thought the only thing was like maybe your dna. you're on to something. the company that's putting your dna to work to protect your bitcoin password and more, next. i can do more to lower my a1c. because my body can still make its own insulin. i take trulicity once a week to activate my

that is a lot of something we asked the chair, jerome powell, and he said there is no perfect interestrget these will be in the united states but he did suggest they will continue to increase interest rates at least for the next year or so has the us economy continues to strengthen. i've only got 20 seconds but is this controversial? does anyone argue this isn't the way to go about it? one person. president donald trump. he is not happy with these interest rate increases because it strips in the us dollar and that hurts american exports but it come to the broad consensus among us economist, this is the best path forward for them. thanks for that. kim giving us them. thanks for that. kim giving us the lowdown. lots more businesses on the lowdown. lots more businesses on the bbc app. i will be back with you the bbc app. i will be back with you the second half of outside source and a couple minutes' time. good evening. it's that time in that it could take a look at the weather elsewhere around the world. we've got a big typhoon to games sitting in the pacific. i would like to start across

fed chair jerome powell said the economy is strong, but he did warn against a drawn-out trade war with china and other nations. >> i think if this perhaps inadvertently goes to a place where we have widespread tariffs that remain in place for a long time in a more protectionist world, that's going to be bad for the united states economy. >> woodruff: fed policymakers also signaled that one more rate hike is likely this year, and three next year. president trump now says he will sign a sweeping spending bill tv t a government shutdown, come monday.lr the senatedy approved the bill, totaling $854 billion, and the house moved to follow suit today. r funds the military and many domestic agencies e fiscal year that begins october first. it does not fund the president's border wall. inere are small signs of hope tonight for townouth carolina facing floodwaters from hurricane "florence." officials today lowered their flood predictis for conway and georgetown, where several rivers converge, but it cou change agai. >> all three river systems were flooded not only from the water from south carol

but based on the action today and what i know about fed chief jerome powell, i think the big sellers might be making a bit of a mistake. i'm not saying in fed we trust that's not me. that's what got the bulls burned i think in fed we trust but verify so far that verifying makes me think you'll be safe if you sit tight with the diversified portfolio rather than flitting in and out of stocks every time jay powell opens his mouth let's take some calls and go to ed in iowa ed >> caller: jim, hey, my dad worked for dupont when i was a kid and i was pretty impressed with the safety program they had and how it fit into their business plan. so over the years i've been investing in dupont. whenever i had a few extra dollars and i benefited quite well on the split came and then i benefited again quite well with the dow chemical merge are an now it represents about 20% of my portfolio. and i'm really looking forward to the next split of the company but i'm concerned because it hasn't been doing too well because of its primarily an agricultural-based company and the tariffs seem to be hurting it