it's back to luis de haro in new york luis what sort of reputational damage are we looking at for goldman if any at all. you know the new charges sign best a gay shooting to goldman sachs is widening so it seems that one m.t.v. case will exacerbate the potential reputational damage for did bank step back for goldman which has been working to rebuild its image sensor 2000 a but let's not forget india after months of the financial crisis the bank got to be described as a great job. wrapped around the face of humanity for its role in a crisis that since then there was a lot of effort to clean up how mean a stripper bank and also the fallout from demolition case. could have some impact in several senior executives payouts like for example c.e.o. david solomon and its predecessor like but i'm fine since in february goldman's the board adopted a provision giving the ability to reduce some of their prey packages depending on the outcome of their want to be best to get. a giant squid indeed a say luisa haro there in new york with us with some very graphic metaphors. and looking to markets elsewhe

and let's check in with our financial correspondent in new york jose luis de haro jose nice to see you markets really jumped on this news today does that mean investors really believe that this could lead to something lasting a long term agreements. sadly not stephen but at this point any move that does not imply increasing tensions between the u.s. and china is enough to cure investors markets delay as a blink from bad to trumpet ministration trying to deescalate somehow the current situation which has a spill into all the way we have such as currencies than and the nation by the us treasury of china as a currency manipulator for example said the conversations between both countries are still conducted over defoe no need to steal not period negotiations will finally negotiators actually will finally meet face to face in washington next september and for now the recent compromise and for another phone conversation in the next 2 weeks and meanwhile president trump said that the conversation was not productive then again implied that china might now might be more i would call to a produc

and let's go now to our financial correspondent in new york jose luis de haro who is it will this deal in fact help the u.s. farmers most affected by the u.s. china trade war. notice the praises of stephen especially since he had to tone inches involved are relatively small on denmark's in one of the quote i will represent in beat over 2 percent of total us be the experts last year but beaver exports indeed seemed to be the bright spot of american agriculture and last year approaches a record of $8400000000.00 when we put that number into perspective they help given so far on to unit to aid farmers heard by tensions between washington and beijing the usa government has rolled out 2 rounds of trade aid for farmers that's picked it to total around $28000000000.00 and trade that war has hurt sales of wide range of cultural products including fresh fruit and grains and china is at the top market for many of the usa biggest crops and big gene those crops with as a regulation to try so far and of course was as we know soybeans also hit especially hard among those of us if i want to ask you a

situations everybody loses so far stephen and of course we'll be following this as it develops jose luis de haro there for us in new york thank you. now american manufacturing activity has slowed for the 4th straight month hitting its lowest level in nearly 3 years that's according to the july survey from the institute for supply management the biggest supply chain industry association in the world o'con of us had expected an uptick in new factory orders once again contracted with exports also down on weak will demand especially hard hit where metals electrical components and transportation sectors the news is a blow for president donald trump who has promised to revive american manufacturing . that's been touted as a win win agreement a massive deal slashing tariffs on products between the e.u. and the block of major south american economies but farmers in particular are wondering what the deal means for them in argentina some see opportunity while others are concerned take a look. the buenos aires rule exhibition draws in over a 1000000 visitors every year. this year's event comes shortly afte

and let's talk now to our financial correspondent in new york jose luis de haro jose markets are always sensitive to any announcements on the trade talks between the 2 sides how are they reacting so far. well stephen a d.n.r. has been up to new targets feet seem to d.m. certainty of when eve to walk we mean that day us in china will be resolved and precisely tar examine their impact world wide i want of the main factors that are taking the toll on global growth that so far the u.s. consumer seems to be hardly will decide to asian but by posing duties on every chinese product i will enter the us up there september 1st consumption can end up feeling price pressures this is also. in a way into the monetary policy announcement as part. of the right cuts increase with the investors looking forward to at least 2 more cuts before the year end that said. also increasing place in defending a very delegate and awkward position even. times increase in the next month's rent is interesting that this announcement came a day after the fed announces interest rate cut. businesses on both sides of course

and let's go now to our financial correspondent in new york jose luis de haro who's there we saw yesterday the major indexes were soaring on positive trade news today they're absolutely tanking do we know really what markets are telling us about the economy right now well there are several things that we should have been consideration as stephen maybe the most important one is that it trade war is here to stay and some already expected will nod and before next year's presidential election and it's not only between the u.s. and china but also we need to see what happens next that we europe and japan trade tensions are adding to ongoing political geopolitical risk such as the possibility of a no deal that the protests in hong kong. or iran to mention a few and on top of that we can see we are entering the late stages of the economic cycle at a time that most central banks that side from the affair have not been normalized monetary policy and actually it looks that they will have to implement this again has made investors run for cover especially u.s. treasuries at a time. between the 2 year

and let's go now to our financial correspondent jose luis de haro in new york was it there you are so the decision finally made how are the markets reacting. you know it will stephen especially after listening to your own paul giving context . was more hawkish it done investors anticipated he was a very clear is stating just a meat cycle policy adjustment meaning it's different from the start of a long cutting cycle as we saw for example in 2007 obviously did not see it well with the investors so we are still seeing. 2 more rate cuts before the year and so we. will let everybody down with the decision. the fed likes to say that its decisions are data driven did powell in that press conference lay out a strong enough argument for why. why he's cutting rates despite the strong economic data frankly in the us. stephen he was really begun to regard so was the. statement in both cases the outlook for the u.s. economy remained favorable while the current expansion was to find the staying power will mention it that we should expect that job growth to be slower down last year but the fittest