the resorts in macau are world-class compared to las vegas. macau has taken off. pansy: we are talking about the next generation of people from china, who have become more affluent. betty: siblings lawrence and pansy ho have become leaders in the industry thanks to their father, stanley ho. the siblings have a combined net worth of $7 billion. for the last decade, they have met stiff competition. from a las vegas billionaire who is known for constantly betting against the odds. sheldon: they predicted i would not even open. they did not believe somebody else could do something better than they could. betty: they underestimated you. sheldon: they grossly underestimated me. betty: sheldon adelson is ceo of vegas sands, with a net worth of $35 billion. much of that wealth made on his macau casinos. the race for macau pits billionaire against billionaire. all vying for the attention of the 1.3 billion chinese to the north. macau is an 11-square mile enclave on the southern coast of mainland china. for over four centuries, it was under portuguese rule. today it is the

in terms of macau, how rebust of the turn is going to be and is it specific to his properties or macaul. >> he said over all. as comps get better will firm and bottom by the end of the year. he has a new property opening next year and wib does as well and he thinks 2016 will turn positive. melissa, he said for the first time the macau government is sitting down with all six operators as they map out what they've done so far and where they are going. and he met president jinping last week and after the dinner at the white house he felt much better that the central government is serious about macau thriving as an entertainment site. >> that is interesting. jane wells, thank you. joining us from las vegas. and casino stocks are bad as of late but the biotech space has been an absolute bust. are we going to talk biotech right now? >> i think we're talking about -- >> let's talk about wynn real quick. it has been an angry show and dan has taken the brunt. but he is spot on. $50 right now. >> i believe him. >> you believe that he believes it. >> and i'll tell you this, and wynn and we talked

macau natives saying i am being overrun by chinese.ssmarketed facility that opened and an early 2016 a few more of these mass-market resorts. that is the key, if we get a little breath we could see and macau --nd recovery in we could see in flexion and andvery -- inflection recovery. jon: not everyone is suffering due to chinese exposure. today, the reserve bank of australia announced that it will leave interest rates on hold. michael heath joins us live from sydney. what is the extent of china bistro impact on australia? china's impact on australia? how much? guest: is a bit of both but china is australia's biggest trading partner, and is the most dependent developed economy on china. people are using the rba is a guide for what might be happening in china. the rba noticed a further softening in chinese economic conditions and also noted the volatility and global stocks daily driven by china but it was much more descriptive than prescriptive. get a betteryou'll reading today with the release of current account information and a lot of

the resorts in macau are world-class compared to las vegas. macau has taken off.we are talking about the next generation of people from china, who have become more affluent. betty: siblings lawr a

macau is huge. singapore is generating $4 billion in annualized revenue.ow, and then -- you have if they arenes, lucky and have a very good a 15 with a couple of new resorts that have opened an expanded, you will have about $1.5 billion in revenue. billionuld hit $2.5 this year. it is artie above the philippines and a little less than singapore. with the two resorts coming on in 2017, two more licenses that will be rewarded this year, and significant development going on as well as down south, that is where it the big story is extending. caesars who never could get into macau. looking at korea. they like to gamble. proximity to china. you have the 2018 olympics. there are a lot of things going on over the next couple of years which could drive a very interesting market. shery: we're hearing that japan is getting into the business. >> if they ever get around to it. we are talking about the gaming boom in asia. you can get more on all of today's top stories on our digital destination. we bring the best of bloomberg news and television and new digital contact

if you look at the korean , it is tiny compared to macau. if you look at growth, it is an interesting issue. with both paradise and gkl they are down and not for the same reasons. these are foreign only casinos. it is just now coming back. is stillng, the local going. they are still traveling. very interesting. rishaad: thank you very much indeed. but take a break and stop on the other side of it, the elephant in the room. 747 production hitting zero. ♪ rishaad: asian stocks in general retreat. investors and head of u.s.'s crucial job report. meanwhile, the ecb announcing a revamped qe. mario draghi saying the bank will increase it to bond buying program. he added that risks to both remain -- china, refugees, and emerging markets will dominate turkey. talks in in a statement, the group's monetary policy is tightening. let's have more on a crucial jobs report out there today. the last main data points before we see the policy meeting later this month. > ebola ron washington will be shutting down for the holiday weekend, but at least one piece

macau casino shares. both have huge investment in macau. another name that moved yesterday is falling by about 4% and a session. closely watching australia. rba decision and legs economic numbers. somebody m -- some of the miners doing well. evolution mining. 3%.l search rising look at this. a drop for this, oz and minerals. closely following currencies. wake of the numbers out of china, here's what we have on the aussie and kiwi. 7119 u.s. cents. when the china numbers came out and the yen is the beneficiary of the safe haven, look for safety. the economic slowdown in china will continue. watch at that very closely. gold prices, safe haven buying again impacting old as investors get -- gold as investors see it. 1039 an ounce. as we look at gold for the past week, this is what we have. it shows investors are looking to take risk off the table. well, official factory gauge in china as we have been discussing. lowest reading in three years. a subtraction here. stephen engle has the numbers. and the unofficial figure. stephen: the china econom

let's talk about macau now. it's locked is not look like it is about to change anytime soon.illion loss in revenue in one year. one man is taking a look at this. what has changed your mind? it is not just about the slowdown in china, about the corruption clampdown, you add the stock market rout, this clampdown on money from the government. take a look at how the that sent changed this year. it was a coin toss in january. they were expecting again after we saw the first drop in 2014. but as you see, the chips are being pulled away for the second half. in fact, they are expecting gambling revenue to fall to about $30 billion this year, $14 billion shy of what they saw in 2014. analysts are not optimistic about that the ip's. -- about the vips. angie: build it and they will come, mass-market at least. gone?e vips, where they yvonne: they are expecting a rebound. with the mass-market, it takes time to build. resorts opening later this year, some next year. still, optimistic. gain in 2016 followed by a 10% gain in 2017. testr this year, the big is going to be china's national holi

china pointing a gambling outsider to turn around its macau casinos. the unit cost new president and ceo will begin effective november 1. he has advised the beijing government and run property developments in china. he has challenges ahead. he will have to find a way to stem declines in macau amid tightening government restrictions. not to mention, china opening a 2.7 billion parisian macau project next year. operators ain't to draw mainland tourists to offset a drop in vip gamblers. profits plunged 30%. we are talking about yahoo! this spinng, it's efforts to off its stake in alibaba without paying a hefty tax bill. the irs outlined new concerns over transactions that mostly are intended to cut tax obligations. there,g up to scrutiny the agency says it has misgivings about these types of deals in which the business being spun off contains mainly investment assets, or when the active business is small. yahoo! spinning off its 15% stake in alibaba could potentially save it $9 billion. early the -- earlier this month, the irs declined to grant yahoo! in

sharesap -- macau casino have been active today.oc.k out you really have to look across sectors today. you need to be looking within that space where oil is headed. gold favorable among some investors. angie: thank you. china's top foreign affairs decisionsays the imf had nothing to do with the government's devaluation of the yuan. in an exclusive interview with betty liu, he said market forces determine the value of the currency. >> we let supply and demand determine the value of rmb. speaking,b, generally is quite steady. towill, of course, continue reform in china in various sectors, including the financial sector. when people look back 10 years or 15 years from now, they will sue the market reform is really good, not only for china, but for the rest of the world. betty: 12 months from now, will the rmb be lower in value? >> it is natural for the currency to move either way. it is reliable currency and more and more people do their trade in rmb. i am sure that the rmb will continue to play a very healthy role in promoting not onl

it might not continue its presence in the macau vip gaming industry if the industry does not correcttself. yesterday ofll wynn as a result and are rebounding after falling. it has been a volatile session and we are only 40 minutes into it. mark: how about biotech coming into today? julie: it looks like it might break the losing streak. i say might because like wynn, the nasdaq started lower and turned higher. there does not seem to be a catalyst, just as there was not a clear catalyst for the selloff aside the heller -- hillary clinton plan to cap drug prescription pricing. this has sold off for the last seven sessions. biotechat the nasdaq index trying to break that losing streak, it is still down 25% from its high on july 20. if it is down, if it ends up falling by the end of the day, the eight-day losing streak will be the worst since 2008 for the biotech group. julie hyman joining us from the newsroom. thank you. goldman sachs may have washington to thank it for not looking like the troubled commodity company glencore. joining me now is michael moore who covers goldman sachs for

a report reveals more than $250 million has been stolen from a junket group in macau. even so, shares fell nearly 5%. morgan stanley got the nod to lead japan's biggest ipo of the century. the tokyo stock exchange has approved the november ipo. 80% of the stop will be offered to individuals. chase will coordinate the international sale. singapore ends in the poll. all 89 seatst time are being contested. former southeast asia correspondent is life there. we are an hour away from the polls opening. how are things looking? >> pretty quiet. this is the culmination of nine days of vigorous campaigning. tens of thousands attended rallies even on weeknights. singapore is no longer apathetic the way they were described before. in the last election in 2011, the ruling people's action party won by a slim majority. lots of issues being discussed, high cost of living and health foreign talent competing for jobs in the country. thisrime minister has said is a critical election that will set the tone for the next five to 20 years. this will be the fourth generation of leaders. the o

erik: massacre in macau.ming index is down something like two thirds since its peak this year. we have had a big corruption investigation in china which is make people nervous. you obviously had the big fall in the stock market. yuan evaluation. people are less and is yesterday about throwing away their money and casinos. erik: to what degree do you care about china? i quoted some statistics that i believed to be true which is u.s. exports to china account for just 1% of u.s. -- a one percentage point contraction -- shortfall in bena's gdp growth rate would five or six basis points of u.s. gdp growth. is it a facetious question is to ask? -- question to ask? i try to break it down in terms of what we went through in 2007. this is a global financial crisis in the making? orear china is imploding really going into a disaster mode and that is not the case. retail sales in china are running 10%. we give our eye teeth the havoc on a growth. it is not like good compare this -- compared to 17% growth, but it could n

.- arrium macau casino analyst capitulating on the idea of a second act recovery.se names in the hong kong market. galaxy entertainment, down by 1%. lower.holdings trading sydney, we are tracking news corp.. there is an interesting report that the president of china tells rupert murdoch that china is open to media. let's take a quick look at what else is moving. i mentioned sydney airport is down in this session. thoseina holdings among macau casino shares. that is a snapshot of australia and hong kong. the shanghai composite is down as well. right now, it looks like we have some rotation in the shanghai composite. this market often goes against what we see in hong kong. shanghai is up and hong kong is down. we know that all too well. rishaad: china's top foreign affairs official saying the decision has nothing to do with the government's devaluation of the yuan. the state counselor said market forces determined the value of the currency. >> we let supply and demand determine the value. it is quite steady and value -- in value and we will continue to do reform in c

macau's casino sector falling today. china as well falling on concerns that gamblers will stay away. we will send it back to you. the big corporate story, volkswagen admits to systematically cheating u.s. air pollution tests. it opens lower by 14%. opening them up to five and criminal allegations. this could be a big mover and the stock reflects that. and europe and asia as well, here is what is coming up. first up, we will be live in athens. we speak to the ceo of one of the nation's battered banks. then, the story we have already been discussing, damage control at vw. the company looks to $18 billion in fines. the prime minister once more. alexis tsipras secured a strong wind after the polls suggested it was too close to call. withnt almost undiminished 35.5% of votes. the former greek finance minister said this was good news for greece. >> there are a lot of opportunities increase and we need stability. we have to tell investors to be more sympathetic because to invest you also need stability. you need to deal with ta

hong kong and macau is where it hurts. but mainland china they say is starting to improve weathering the storm. we are seeing many luxury providers today. glencore up almost 3%. the relief rally. they had 1.3 billion shares about 10% of the outstanding capital to support the balance sheet. that's a relief for glencore. down 17%. this is the worst move for the stock since 1999. one of the world's largest makers of airline seats. iny have been having lays terms of providing them for the new big airliners. they say that production delays have hit them higher. profit and% slump in they are saying the revenue is in line with the outlook and is shocking. commodity markets copper dropping. as china expects low downs and faxing -- affects the global supply. am pleased to say it we can welcome in this he and lloyd. great to have you with us. i'm looking at the copper market and i bring glencore into that discussion. we finally saw a flush out or impact of oversupply and minors making adjustments so at what point would you say we ma

will the flood or flow of tourists into macau make up for what has been a sluggish year for casinos?e seeing those shares fall. japan, worth mentioning. showing a drop of 29%. getting scaled-down. more a flexion -- reflection of valuation. shares down 7.5%. companyention, one more and japan, leaving the gains. er gainers.bigg shares are up 7.5%. same-store sales up 19% year on year. we are seeing declines, 2.4%, for the nikkei 225. automakers, down as a group three point 5%. like a cell now, ask questions later situation because of the mess dw finds itself in. that is the wrap up the markets. thank you. you've on: taking advantage of record low valuations to raise their stake. of move is a vote confidence. let's go live to singapore where our south asia correspondent is standing by. haslinda: they believe in the longer-term outlook for china. they are looking to broaden their exposure to the market. they raised their stake to 10% and paid $18 million. this is not the first time to my emasek has been sna pping up shares. there was concern the government will struggle to revive growth.

macau with gaining revenue, plunging almost 36%. 16th fell for a consecutive month as new resorts fails to attract players. revenue was down less than expected, but the down turn has drags to a four-year low. shares took a hit. need to deal with fewer airbags and originally thought. they will now have to replaced with a 3 million, instead of 34 million -- 23 million instead of 34 million. they were thought to have shrapnel released in the car. authorities are still investigating whether they violated u.s. law with an excessive delay in reporting defects. speaking of cars, at least car sales in the u.s. proved resilient last month. despite the turmoil in the markets, we have ford, chrysler both reporting strong numbers. tous one the luxury race continue what has been a strong year for high-end makers. hall --ing in dan a dana hall. big headline is despite the turmoil in markets, americans are still buying cars, particularly light pickups and suvs. it is all about trucks and suvs this year. angie: buyers seem to favor pickups and suvs, what does this mean for japanese makers with their ca

we were in macau last year. matt: did you spend a lot of money?oing that as much. it's really not a question of individuals and i'm sure as a human you are a better. people are noty taking big betting trips to macau, at least they're not losing much. betty: interesting. thanky so much. -- thank you so much. scarlet: now a look at the top stories of this hour. two journalists imprisoned energy -- imprisoned and egypt will be released today. they were imprisoned for what prosecutors called "false news." the fate of a third journalist is not known. betty: canada's finance minister says the country is not in recession. despite data showing otherwise. joe oliver tells ap that is largely confined to the energy sector. canada's economy retreated from april through june after sliding 1/10 of 1% the first three months of this year. uber is testing a carpooling service in china. it allows drivers to pick up passengers revenue looking for a ride along their route. it sounds like lift. this is the first of a global product is he released outside the u.s. by u

and resorts, the casino hotel business, it had macau revenue that was lower than the street estimatedas a result, you see a drop in 4%. back to you. alix: thank you so much. i should point out that we did see carl icahn buying a stake in rallyrt and it had a big on the news. everything that did really well during the rally is selling off. giving back the gains. there may be another reason -- olivia: there may be another reason to cut the cord. apple is said to be investing in original programming. the company, which is that to unveil another version of it that top box, is looking to fund a number of high profile series. big a game changer could this be? why not ask bloomberg editor at large cory johnson? cory: in the world of streaming we have netflix, 36% of american homes. you have hulu and amazon prime also making a really big effort. all of those three companies, all of them invest in original content and making shows like "house of cards," "daredevil," other things they are having success with. hulu making big investments in original content and amazon prime as well with shows th

numbersof disappointing out of macau, where he gets a wynn is that a, drop of 34%.flix has gotten crushed. 10, it has come edition from apple that we continue to -- competition from apple and hulu. people have concerns in the form of how it's going to globalize, how much that's going to cost. as a result, it's dropped down to almost it's 100 day moving average, 97.9, it's a palindrome. 97.79. wrap, check out my terminal. i have a cool screen that shows the field and onto levels -- fi bomachi levels. if netflix falls below 97.79%, the next few been on she level is 98.3. i will be the next support if you believe in that kind of stuff, which i don't. olivia: you don't believe in technical charts. i'm impressed. you know what else is a palindrome? something else you like a lot. racecar. matt: that's true. it is. thank you. brendan: they make racecars. top stories across the terminal will now, hillary clinton be walking a tightrope when she campaigns in puerto rico. the u.s. territory is struggling with $72 billion in debt. the governor says cannot be repaid. clinton is

they had a bad day because they came out with macau numbers that were not as good as expected.n upgrade giving it said they expect earnings to be lower. they are trimming earnings expectations, but because the stock has gotten so crushed, they are actually putting a full-blooded buy. i believe we have the year-2-8 chart of wynn resorts. no, we don't. it has been actually crushed. that is why they upgraded it to a buy while reducing earnings expectations. that is not something you see very often, ladies. youlet: matt miller, thank so much, as we head into the final 40 minutes of trading here. alix: still ahead, when it comes to tech ipos, what can uber and airbnb learn from priceline? we will explain, next. ♪ loseet: when investors money in startups, it does not mean they are crazy, but it means they will have a difficult time making money on that invest. alix: take priceline, for example. for investors who bought in 1999 to regain losses, and how the company is valued at $62 billion. joining me to discuss is "bloomberg view" columnist justin fox. you had a great story with the

casino stocks like wynn, mgm grand and las vegas sands are seeing declines as the macau gaming revenue fell in august, wider than july's 37% drop and marks the 13th consecutive monthly drop and those drops tied mostly to places like macau. >> meantime, world's biggest automakers out with their latest sales figures. ford u.s. sales jumping 5%, chrysler sales up 2% thanks to strong demand for the jeep and gm sales slip and toyota sales fell by 9%, but both of those drops were indeed less than expected, let's bring in now a guy that knows a little bit about the car business, the american economy and potential china threat is bob lutz, former gm vice chair. bob, a lot of debate right now about the federal reserve and the economy. to me car sales are one of the key metrix how the economy is doing. easily going to do more than 17 million this year. what's your take on the economy vis-a-vis auto and truck sales. >> well, i think the economy is healthy. what we're seeing is some obviously downward correction in the stock market, but employment is still good. in fact, joblessness as it was poin

he operations huge casinos in sin city, of course, macau, china.the koch brothers, his backing is a coveted prize among gop contenders for the white house. joining me a contributor editor for "new york" magazine, just penned a fascinating piece on sheldon adelson called "sheldon adelson is ready to buy the presidency." it's a fascinating read. you got a lot of folks to talk to and tell you what's in sheldon adelson's mind. he's so important for the superpacs. you say these candidates are competing in the, quote/unquot,/ addis adelson primary. talk to me about his significance in this election. >> he spent about $100 million in 20 1 2 trying to beat barack obama, spent $20 million during the republican primary supporting newt gingrich, really single handedly keeping gingrich's candidacy alive. after gingrich finally lost he i think spent there are 30 million supporting mitt romney during the general election so he has a track record of spending a lot of money. think that he half 2012, he felt bad about the support that he gave gingrich because gingr

he's still playing in macau. >> you cannot silence jon bon jovi. >>> a facebook post getting a lot ofnow. >> i could have and should have done a better job. i'm sorry about that. i take responsibility. >> if i win, i will tell you something, a lot of different things will be happening in this country. >> i don't think barack obama has bad motives. i just think he's wrong on a lot of issues. >> kim davis is free! >> the reality is what law did she break? >> his people have rallied, and you are a strong people! >>> the pilots quickly aborted the takeoff. >> i opened up the cover of my window and just saw flames on the engine. >> passengers literally running for their lives. >>> we're running now with these migrants and refugees who just broke out of the holding area. >>> cafes are selling life jackets. >>> this is "new day" with chris cuomo, alisyn camerota and michaela pereira. >> good morning. welcome to your "new day." it's wednesday, september 9th. 6:00 in the east. so you want an apology from hillary clinton? guess what. you got one. the democratic front-runner telling abc news, fa

ongoing about the strength of gambling receipts and how quickly they can transform macau into a venue gamblers but for families as well. singapore has been a persistent , down 3/10 of 1%. but jakarta is coming on strong now. japan today, the telecom stocks. some big moves here. the prime minister of japan says he wants to do something about the high phone rates. that has investors on edge. it would impact telecom shares. i want to give you a different look at how this is impacting the index. this is a chart with the broader topix. oil and gas are lower. telecom is down nearly 6%, the biggest subgroup drag on the topix index. check out the mobile players. seven falling, only one advancing. japan.gest carriers in japan communications, some of the smaller names -- all of these shares. who is advancing? mti limited. a down day for the telco shares in japan. a developing story we will continue to watch. rishaad: they could soon be ramping up support measures. this is what investors are thinking at the moment. data over the weekend shows the economy is sinking deeper into a rough patch, or

and wynn resorts gets 72% 6 their sales just from macau. the other part coming from las vegas.t's the china exposure, some of the stocks to watch for traders. as to the asia pacific broader, dow chemical, ibm, expediters international, among the stocks that break out the asia pacific region. expeditors international this is a company that does logistics for basically freightgoers, import, export businesses. they get a good chunk of their business from that asia pacific region. just some of the ones, melissa, that traders are watching for the asia pacific exposure. >> third quarter earnings will be very interesting because i'm sure all these companies will mention china, will have a better read on whether or not whatever's going on in the china stock markets is having an impact on demand. >> one name that ibm stands like a sore thumb. that's one name i know we've done a good job in terms of where the stock is headed. we've said given their growth or lack thereof it should have a 8 multiple against maybe a 14 or 15 earnings per share next year. you can do the math as to where the

of course hong kong macau is little more complicated.e: for more, we are joined by the chief eurozone economist. great to have you on the program. when you look at glencore in the trouble surrounding commodities, when you look at china, and we are sure for translates to the real economy, how do you assess the economic damage it could do to the eurozone ? antonio: clearly there is an effect that is already happening . when you look at exports out of germany in the first and second quarter of the year, they have really come down quite significantly. of the story is that exports to the u.s. and other european countries and the u.k. have made up for it. ws were up altogether. it depends on what the currency will do because that will have applications for the year. francine: your take, antonio, depends on whether it becomes a reserve currenc. where do you see it going? antonio: we think this capital outflows likely to push the pboc to let the currency devalue further. in fact, we have projects to weaken by 7% by year end. that is versus the u

the macau vip market may never is whatme back -- that some operators are sink or hong kong property pricesaring but jp morgan think we may see a correction next year. the developer there is down 1.9%. the shanghai investors are taking to heart the message coming from their central bank. high on the agenda that g-20 meeting which of course is in the turkish capital, ankara. a look at china in the global economy. china factored prominently in the meeting. its partners in the g-20 wanted to know exactly what is happening with the chinese economy and the market there which had been so volatile. first, we have some new information on china's economic growth that appears to slow down the -- that started last year and even earlier. it was worse than expected. china's statistics office revising its 2014 gdp growth number. to 7.3%. .own from 7.4% you can see these problems were a long time coming. the economic slowdown. some may not call it a problem necessarily, they may say it is a natural progression of the economy that whatever you want andall it chinese bankers officials were out in a full-cou

we are seeing some operators saying that the macau vip market may never fully come back. hong kong property prices have been soaring recently although the jp morgan advisers say they may be corrected. joining us on what is happening in asia. it is interesting to see the chinese button-down on rating. let's turn our attention back to europe. invoked the emergency measures that has allowed more than 12,000 people into the country and through to germany. the migration issue taking center stage over the weekend. policy makers struggling to deal with this ongoing crisis. let's give you a taste of this weekend's discussions. >> the time for games is open. it is time for making decisions and turning decisions into actions and doing it united. as europeans. >> it makes no sense to have a public debate about who gets how many billions for what. this will not reinforce but disturb the salivary -- the solidarity. >> we absolutely need to have a european response to this humanitarian crisis which is not acceptable. not thel nationalism is answer. the no phobia is not the answer. clos

. >> casinos are selling off for a second straight day, particular , ase with business in macau junketrators said that business is so bad that it might not continue operating in the gaming industry if the industry does not correct itself. the chinese government has clamped down on corruption. a lot of concern about what this means for the companies that operate there. also watching the volatility everywhere, particularly in technology. apple shares took an unexplained leg downwards. some speculation that it had to do with google, presenting its next generation of phones. other updates to comcast, streaming service, so google shares are also down. apple off by 2%. a big introduction for from ld beverages system green mountain coffee. it is competing with soda stream. green mountain shares are down forecast fortting its beverage pods. bank of america, the company is cutting dozens of jobs across trading and banking divisions. the ceo, brian moynahan, pledging to trim expenses. it has been seeing a drop in trading revenue, off by 1%. scarlet: thank you so much. bank india's central lowere

some of the casino shares, macau and utilities are falling.ig story is the japan nikkei 225. some investors, see it as a buying opportunity. we see shares of the mobile companies falling today. all falling as the japanese prime minister said easing the burden imposed by mobile fees on japanese consumers is an important issue. that basically means these companies can see their profitability eroded if customers are charge less for their mobile services. this is what we see a cross of the asia-pacific. austria posting a gain in the currency door well. we will get the latest rba minutes tomorrow. the bank of japan beginning its meeting. will be outoda there and of course we look ahead to the fed. a busy way. anna: thank you. zeb eckert joining us. as he was suggesting, data out of china reveals the economy is still growing or could be slowing slower than the target of 7%. that is raising prospects for more stimulus from chinese authorities as they try to cushion the slow down and the world's second-biggest largest economy. by.is standing what does

they opened 40 million brokerage accounts, and rather than going to macau they decided to trade the stockmys fragility, view, of the chinese system, because they all decided to buy stocks at the same time. same ballparkhe 2011 andthe lows in 2000 nine. it is undeniable the world is in a better place after the low in 2009 and 2011 when we had the potential of a euro breakdown. hass: one thing that ramifications is more policy levers being enacted over the next six months. ,lready appreciated the yuan the myth of the break on that, for whatever reason. they're burning through reserves. they make it to christmas -- they may get to christmas and stop defending the yuan. how do you look at the contagion from what the chinese are doing? is there a tightening from deutsche bank which propagated yesterday? david: they depreciated by 2.5%. it is a big number. it is 2.5 percent, that is a smaller number. they have and evaluating since 2006. nine years they have been devaluing the yuan constantly. francine: it is small, but it created mayhem. what happens is that that accelerated the selloff on the

macau casino shares were in a mixed position due to the latest forecast of gaining revenues, coming inof expectations, adding pressure to the likes of galaxy entertainment. sands china, a major player, is seeing in advance today. in a declining market, we see some winners here. the only winner in the japanese market on this day has been the yen. safe haven but stocks have been on a firm negative footing. these are the movers and the downside. yu cajon rubber is down -- okohan rubber is down and a lot of questions are left unanswered. anna: zeb eckert joining us from hong kong. guy: a big move in tokyo overnight. we will see a fairly substantial move -- day one, back to school for the european equity markets. looking at, we are the bloomberg terminal fair value calculation. cac down,wn 2%,, ftse playing catch-up. looks like we will see a negative open here in europe, a strong negative open. some may have surmised that traders are returning to their desk pushing the buy button rather than the cell button, but it looks like stocks are on offer this morning. oil is back in the bull market

there is no sign of stabilization on the other side of the world, macau, the world's gaming capital.inue to deteriorate. head to mying, bloomberg terminal for a technical to will want to note. over the past year wynn has stayed with the 50-day moving average, but in august heading into turbulence, falling below the line three or four times. you can see the deeper slide into august. interesting technical if you are a bloomberg terminal subscriber. matt: i am a subscriber. mark: yes, you are. look at the top stories i got from that subscription. some news crossing the bloomberg terminal, ellen pao has decided to end her lawsuit. she will also pay the legal cost in the gender discrimination case. she lost her case against the venture capital firm in march. finer perkins said they would not make her pay the $276,000 legal fees if she dropped her suit. if she does pay now, she is doing it to be nice. for two dollars gas. gasoline prices will fall another 17% by the holidays to $2.03 per gallon. over the labor day weekend they were one dollar cheaper than they were a year ago. matt: on the

. >>> a number of macau casino stocks falling to fresh multiyear lows after one of the biggest junkets facilit e facilitates loans for high rollers warns it mate have to wind down operations if gamers continue to decline. >>> panera rated outperform a new coverage at tell zi advisory group pointing to optimism about changes in food, marketing and restaurant design, shares up just about 0.8%. michele? >> thank you so much. >> we have about 14 minutes before the closing bell. the dow jones industrial average is lower by 13 points. well off the lows. the s&p lower by 5 and nasdaq lower by 46 points. nasdaq definitely taking it harder today because of the biotechs. >> i've been looking for art cashin to give me the imbalances but i haven't seen him yet. james lu from jpmorgan funds believes that the markets will react favorably when the fed finally does get around to raising interest rates but what happens in the meantime. we'll talk about it when we come back. . >>> ten minutes left in the trading session, the dow positive again. art cashin did stop by and said that there is no imbalance

past year in china a lot has been, xi crack being you on on corruption cut down on money spent in macaunvestors i think going to see more moves like that a lot of house cleaning with state presence weigh see how weak pmi overnight, small and mid sized to 47 keeps going lowe is. >> it important in terms of of laekt capital for you. >> for me called stay away long-term this is going to be great what is going to drive conveniently is chinese consumer, i am no, no hurry. >> we have 2 1/2 to 5% allocation to the far east china india far ooest, 60% of the world economy consumers, growing, consumers spending, you've got to be involved in that you can't look at this as a 3 or month cycle look at 3, so year cycle as allocated a small portion of portfolio i don't think a terrible idea. >> government keeps intervening; right? >> could we sie u.s. businesses need to be involved they do need to be involved there, but much greater risk to their own -- >> look at dinner who is there boeing was there, microsoft was there, every major -- starbucks for god's sakes. >> sitting at that table. >> -- i love

talking about of win, look at this the beginning thought, wind resorts, a big macau play, china ralliedght, and the wing, that stock is a winner today up 5%. the price of oil is around $45 a barrel today, we just got the weekly inventory report and it was down so we got less oil in storage pushing up the price almost $1.90, $45.51 is where we are now. and now this. isis releasing a chilling new ten minute video titled we are back in america. in it they vow to repeat september 11th by sending a fleet of suicide bombers and truckloads of explosives to america. there you have it. now this, a group calling for a texas to secede from the united states to get a question on the presidential primary ballot. the group's goal, the texas national movement, their goal is to get 75,000 signatures by december first, 80,000 more required to get on the ballot and ashley webster is laughing. ashley: don't mess with texas. it would be a powerful economy. stuart: it is not going to happen. might get on the ballot. ashley: dallas cal was would be up for in team. stuart: america's team, foreigners. right no