dow is up 225, nasdaq, 88.inting out china's currency manipulation to the federal reserve, will it force jay powell's hand to cut interest rates more than previously expected? we'll give you the odds. a new study shows weed is growing, we have the nation's hottest spots for marijuana use. keep it here on "fbn: a.m.." ♪ relax, relax,. ♪ take it easy. ♪ in crossing harsh terrain or breaking new ground? this is the time to get an exceptional offer on the mercedes of your midsummer dreams at the mercedes-benz summer event, going on now. lease the gla 250 suv for just $329 a month at the mercedes-benz summer event. mercedes-benz. the best or nothing. termites, we're on the move.24/7. roger. hey rick, all good? oh yeah, we're good. we're good. termites never stop trying to get in, we never stop working to keep them out. terminix. defenders of home. cheryl: the federal reserve is planning a new system that would allow payments to be made to banks around the clock, 24/7. the system should be available in 2023 or 2024.

ashley: look at the nasdaq, down 2%. stuart: yes. not good. nasdaq down 2%. that's a drop and a half. 160 points down for the dow industrials. >>> take a look at this. the white house. president trump is expected to make a statement on the weekend's mass shootings. that will be at 10:00 eastern time. you will see it live right here. >>> the "wall street journal" reporting that president trump could be revealing his health care plan next month. dr. siegel is on the show. i want to know, he's a doctor, what's the one thing a doctor would like to see from the president's health care plan? >>> boeing reportedly reworking the entire flight control system of the max jet. boeing's hoping to have the fix in place by the end of next month. the stock, though, way down this morning. >>> next, we have a man who knows more about retail than almost anybody. he's going to tell us how the trade war with china and another possible round of tariffs could affect the industry. the retailers. more "varney" after this. know w. i've done all sorts of research, read earnings reports

the nasdaq and the s&p 500 were off more than 3% this week. the nasdaq, just about 4%.w the worst week of the year for those indexes and the better than you marked the second worst for 2019. as for today, the dow lost p nts to 26,485. the nasdaq dropped 107eand s&p was off 21. >>> actually, a trade dl was reached today, one that will help the nation's farmers. while it wasn't exactly the deal that wall street has been waiting for, kayla tausche tells us it is connected to the tensions with china. >> reporter: frularated with the of progress in china talks, president trump went roosevelt room to announce a deal with europe, boosting agr y p of supporters. >> my administration is standing up for our farmers and rancher like never before. we are protecting our farmers. we are doing it in my ways, including with china. >> reporter: farmers have been the target of china's retaliation so far. the administration has repaid them $28 billion. today the chinese government said it would retaliate further if the u.s. goes through with the new tariffs. two executives who declined to

anyway, dow is up 245 right now, s&p up 28, nasdaq up 95.tually going higher, means prices are going lower. that's good for stocks. we'll keep on it. lauren. lauren: a lot is going on. a scare for passengers on a del a take airlines flight to new york. flight 100 was waiting to depart florida when a fog-like mist started fill up the cabin. passengers were confused. they didn't know what was going on. one customer claims the flight crew failed to explain the situation and even joked about it. the flight went on to land safely in new york. the airline telling fox news the mist was caused by, are you ready, condensation from the air conditioning, so cheryl, you were right. cheryl: mitch rochell and i have both seen that on airplanes. it's freaky when you see it. one of our top stories this morning is the issue of hong kong. they're bracing for more protests over the weekends coming up, despite warnings from china that it could use its power to crack down on the demonstrators l. president trump urged xi-jinping to meet with the protesters to dif

dow's up 14, s&p better by 7, nasdaq up 41. folks, look at where the nasdaq was earlier.130 points. this intraday gives you the best indication of what a fight it's been and a successful one, too, where the bulls are making a major comeback here. down 130 to up 40 points at this moment for the nasdaq composite. >>> cbs and viacom's sibling rivalry getting on investors' nerves at this hour. talks between the two media giants seemingly stalling out ahead of tomorrow's earnings reports from the respective redstone family backed titans. charlie is up in the fox business newsroom. what's the holdup here? what are your sources expecting to hear tomorrow when these sister c-suites start revealing numbers? >> as we reported yesterday, liz, there is growing unlikely hood we would see a deal announced tomorrow when both cbs and viacom, one before the bell, one after the bell, announced earnings. there were some media reports it might come tomorrow or was definitely going to come. we have always been hedging that, you know, it's a possibly but from what we understand, it's increasin

jason: up next, our exclusive interview with nasdaq ceo -- the nasdaq ceo.tarted as an intern in 1993. we talk about the changes she has seen over her career. taylor: this is "bloomberg businessweek." jason: welcome back to "bloomberg businessweek." taylor: join us for bloomberg businessweek everyday on the 5 p.m. wall p.m. to street time or listen to our podcast. jason: and find us online on businessweek.com and through our mobile app. this week, we caught up with nasdaq ceo adena friedman. adena: we are providing the technology to a company called the football index, a u.k. firm, meaning soccer. it allows people to bet on certain players. it is almost like fantasy football in a betting context. have created a marketplace that allows people to buy interest in a player and then watch the players performance and understand the returns. jason: more deals like that coming in different sports? adena: we are already in the horseracing business. , as an industry, that is very relevant to real-time price discovery and high transaction processing capacity. as well a

percent higher on the dow, almost 2% on the s&p and 2 and a quarter higher on the nasdaq, in fact, nasdaq week, this week after all the volatility. global markets this morning are also lower, ftse 100 down 9 points, cac quarante down 52, dax index in germany down 147, uk economy shrinking for the first time in 2012 contracting two tenths of a percent between april and june, in asia overnight, markets fractional and mix as you can see n china july consumer prices up 2.8% driven by higher food prices including a 27% surge in price of pork. china's producer prices fell into deflation for the first time in 3 years, in japan gdp was up 1.8% in the second quarter. the rush to refinance with rates so low, homeowners to look for better rate in mortgage, all the details coming up. if you build it, they will come, well yankees and red sox will play at the diamond made famous in the film film of dreams, all the stories coming up this friday morning. gun control legislation, senate majority mitch mcconnell speaking out on how senate will tackle gun control when it returns from recess in radio intervi

the nasdaq down by 1.5%.nformation technology, the leading sector to the downside with this drop in markets, we have seen a relaxation in the ten-year yield we're now at around 1.69%. and in recent days, of course, yield has been the primary driver of the direction of these markets. >> it's been the beacon. and it did slip below 1.7, as you've mentioned there we've given up at this point in the major index a majority but not all of yesterday's bounce. it did seem it was a rebound oversold levels. people got a little bit too negative the bounce brought us right back up to friday's close i think we have to see how the day plays out. because right now we're trading very technically and i think you have to see if yesterday's rally goes away entirely that's going to perhaps change the equation for some traders. >> all the major averages are poised to end the week down 1% or greater in terms of the losses this week, you mentioned that tech stocks are selling off or leading the losses here today with some of those s

in 1993.the nasdaq in the trading business.to look at the trading as technology and i was a product manager at nasdaq. it was trading projects that we were delivering. i was put in charge early in my career of small trading products . i was able to make the most of them and we can find technologies. we could do great things. at the time, we were a u.s. equities market. they were global technology companies that serve 130 other markets but also we were banned equities and treasuries market and now a european market. we did expanded dramatically. jason: if you are not doing this, what would you be doing? adena: i had a child and this and be an astronaut. whether or not i would is a question, but i did get to meet an astronaut for the apollo 11 anniversary. she gave me the answer i knew would be the hard-won. i majored in physics. i have a phd in nursing. that is definitely a road that would have been a challenge. it is exciting to think about what the space program is doing these days. jason: and staying with technology, i sat do

recovering prfriday's losses. >> the nasdaq up over 1% nasdaq 100 up. both on track to break the losing streaks tech names moving here today apple having a biggest positive point impact on the nasdaq 100 that stock up 1.5% on the renewed hopes on the resolution. other big tech names adding to gains today include microsoft, google, amazon and facebook. also bob just mentioned the russell 2000 up just under 1%. on track to break the two-day losing streak and in correction and on the down day is all those bio tech names, alexion, biogen. back to you. >> thank you. >>> it's a wild 48 hours for the markets. look at the twists and turns between president trump's tweets and breaking headlines starting with friday china announced tariffs. we did see a 235-point drop for the dow. and then we had positive comments from fed chair powell's speech which brought us up 190 points president trump then tweeted that american companies are here by ordered to start looking for alternative to china that one sent the markets plunging, 630 points and the tweet that took us in

nasdaq indicated up 56 s&p indicated up 17.ew happening i don't think. >> doesn't seem like it. >> but it's sort of an upward after yesterday. >> picking up more of friday's decline. right in the middle of that range we've been in in august. >>> a few stocks on the move this morning j.m. smucker missed estimates on the top and bottom lines they pointed to lower prices for coffee and peanut butter as well as increased competition in the dog food category. that is set to open down 6%. >>> facebook is developing a new messaging app called threads according to the verge the app is designed to promote constant contact between users and their closest friends. it is seen as a threat to snapchat, though stock of that company, snap, is pretty much unchanged at this hour. >>> when we return, is wework worth it we have the analyst who may have lyft's ipo zum ochlo stumble, z and several other predictions. he'll say what he has to say about werkwo and whether you should buy the stock when it goes public. that's next right here on "squawk b

s&p down 87, the nasdaq down 278. 51, dax up 76. we did have economic data out of germany, factory orders rebounded, up 2 and-a-half percent, higher than economists were expecting. in asia overnight it was red across the board but off of session lows. take a look at china, shanghai composite down one and-a-half percent when all was said and done. the costly impact of the higher minimum wage, new york business owners say it's forcing them to cut jobs of. what it could means as politicians rush for a national increase in the minimum wage. and the capital one hack, why one senator is asking amazon about security. endless vacations, the company behind the first luxury travel subscription service, what it costs, where you can g all that coming up later this hour. our top story this half hour, the rising cost of fast food, companies betting customers will pay more as a record economic expansion goes on. mcdonald's and chipotle upping prices. the minimum wage inches up. joining us now is the ceo of a & w, kevin bazner. thank

the dow is now down 111 points, the nasdaq is down 68.ke pompeo defending the president's tariff decision. >> for decades china has taken advantage of trade, taken advantage of trade versus the united states, taken advantage of trade versus countries in asia, southeast asia. it's time for that to stop. president trump has said we're going to fix it. and to fix it requires determination. lauren: tori whiting is a trade economist at the heritage foundation. secretary pompeo calls it determination. would you agree with the strategy of the administration. >> absolutely not. we've seen time and time again that tariffs are not working in order to get change in china. even ustr came out with a follow-up report and said after a year and-a-half there's been no change in china. this strategy isn't working. it's time to turn back to the things that we know improve economic growth in america, that's lower taxes, lower regulation and free trade. lauren: what will work exactly, though, when you're dealing with a nation, tori, who has walked back everyt

the nasdaq down 3.5%, the worst since october last year. what happened?na retaliating against the latest round of trump tariffs. china devalues the yuan in a decade. it risks starting what is known as a currency war. the american called that a body blow for those already hit by the trade war. soy beans are sitting in storage in record levels. delinquencies on agriculture loans have tripled since mid 2015, now the highest in eight years. some important perspective for investors here, the dow is up 10% this year, the s&p up 13%, nasdaq up 16%. i want to bring in cnn's matt rivers live in hong kong. matt, proof that trade wars are not easy to win as the president has said. i don't see an offer up here. the next in person negotiations between the u.s. and the chinese are sometimes this fall. >> reporter: yeah. you know, those are relatively low level. the time that we've seen both sides kind of get fwak on the right track is when president xi jinping and president trump meet face to face. that's not going to happen for a while. nothing on the books to suggest

. >> thank you very much the nasdaq hit hard today.ourtney reagan is tracking the damage over there. >> hi, mike ft just off the session lows we were down about 2. % for the nasdaq at the low. seema laid it out with retaliatory tariffs first and then new tweets from president trump. we'll watch these chip stocks carefully. continuing forward look at the damage that's been done today the etf that tracks the chip stocks down 4% here. this is a group that's hit hard when trade tensions flare up and looking at some of the components, the big chip names that are hit hard, look at names like nvidia, lam research and amd, down 6% here. apple, another name we talk a lot about in the trade war even though tim cook has a good relationship from what we understand with president trump it is in the middle of the tug of war responsible for 36 points to the downside right now on the nasdaq 100 hasbro's the biggest loser here in the nasdaq 100. not directly related to the trade war but announcing $4 billion to buy entertainment 1 after the close yeste

dow down 284, nasdaq down 117.ls are lit on social media and the real world, not so much. why one really is the loneliest number when "fbn: a.m." returns. we're changing what's possible every single day., and if you run a business, that means a lot. we create financing options for your customers. to help them get the things they love instantly. our data provides insights into what your shoppers have already bought. so you can offer them what they might consider buying next. our financial and tech solutions are changing what's possible in all sorts of ways. so, how can we change what's possible for you? ♪ everybody hurts sometime. ♪ everybody cries. cheryl: millennials are friending people all over social media but evidently it's a different story if they're in the real world. deirdre: mike gunzelman joins us. >> today's technological era made us more connected than ever before, but it's making us more alone than ever before especially if you're a millennial. a new study shows that 25% of my fellow millennials, well

nasdaq opening up about 45 points higher.&p opening about 12.5 poen po higher wti crude now, $54.93 per barrel look atom farley's favorite measure. we have the vix. the measure of volatility. you know what? i'll ask tom you give us commentary >> what i want to point out in this chart, when you see the vix spike north of 20, it doesn't just go away that heightened volatility, in every one of those if you went back a year, five years, you will see that period of volatility last a month, two months, three months as you sit at home and think about what's to come, if you're an options trader f you', if yon risk-on stocks like f.a.n.g., i would think risk-off these spikes last about a month. >> 12 to 21 is the new normal on the vix. >> we got up to 24 yesterday >> we were stuck in there for a long time. there's periods of peace and harmo harmony. >> that kind of volatility is perfectly normal it feels like a big deal, asthma lisa poi asmelisa l melissa pointed out,s the points in the dow that fell. >> everybody brought down the num

dow up 47, s&p up 4 and-a-half, nasdaq up 18.t of the second night of the democratic debate in detroit last night. >> the bills that the president -- excuse me, the future president here, that the senator's talking about -- >> first of all, i'm grateful he endorsed my presidency already. cheryl: and there's more. who will survive to the next round of debates? we break it down. also, congressman elijah cummings' own words may have come back to bite him. we'll have how the white house is responding. you're watching "fbn: a.m." ♪ synchrony, we're changing what's possible every single day. and if you run a business, that means a lot. we create financing options for your customers. to help them get the things they love instantly. our data provides insights into what your shoppers have already bought. so you can offer them what they might consider buying next. our financial and tech solutions are changing what's possible in all sorts of ways. so, how can we change what's possible for you? cheryl: the democrats took to the stage for the

s&p and nasdaq also lower.as we come off the worst week of the year last week for the major market averages. we are following a number of developing stories, many of which are out of china in hong kong, protesters continue to flood the streets as part of a general strike and protest. nbc's matt bradley is live in hong kong with more. matt >> reporter: yeah, brian, you know, there's been hundreds of flights that were delayed here at the airport and, of course, that's thnot the only public transportation affected by this. hard core road, which, as you know, a major artery here in hong kong, has been blockaded most of the day. then we've had tear gas. it's a little early because, you know, normally in the last couple weeks, we've been having tear gas after dark, when the police are trying to clear the roads. now, it is starting very early that's a sign of where this is all headed in the last couple of days, we've seen the cross harbor tunnel over my left shoulder blocked for a couple of minutes at a time, twice in

this week, we caught up with nasdaq ceo adena friedman. providing the technology to a company called the football index, a u.k. firm, meaning soccer. it allows people to bet on certain players. it is almost like fantasy football in a betting context. they have created a marketplace that allows people to buy interest in a player and then watch the player's performance and understand the returns. jason: more deals like that coming in different sports? adena: we are already in the horseracing business. we have three authorities that use our platform. we see that as an industry vertical that is very relevant to real-time price discovery and high transaction processing capacity. as well as the potential for more advanced surveillance technology. carol: meaning what? adena: we have technology we provide to the industry with regulators, exchanges, and market participants that help them monitor the markets. you can use that same technology in a betting context and we have a module we created for sports betting that would allow you to monitor the b

look at the nasdaq. i want to get to that. the dow is down 3.25% but the nasdaq is getting absolutely pulverized. down 3.9%, taking the biggest brunt of the hit because tech companies heavily depend on china. so they are feeling the crush in an outsized fashion. folks, we do want to let you know the decision has been made to blow out all commercial breaks in this final hour of trade on "the claman countdown" in order that we get you the market movements every second leading up to the closing bell which is now 58 minutes away. we need to make sure you see whether the markets gap down even further or if buyers start to venture in and take a few bites off the ground here. it has happened in the past. right now, so far, we are not seeing that. the nasdaq down 316 points. it's still pretty much a tsunami of selling. investors are scurrying to what we are calling fallout shelters as the currency bombs explode all across our market, slamming into assets of nearly every asset class. again, this is a fluid situation. it's a little comp

the nasdaq down two. now for a tale of two specific stocks that trade. walmart is the leader on the blue chip index. now, it's off its earlier highs. okay, that's important to note. but it did report very upbeat surprise results. the retail bellwether also raised its earnings expectations for the full year, nimbly managing to skip around the concerns surrounding tariffs. wall street is still the champ of retail, as noted by a 20-quarter streak of u.s. growth. while the retailer is one of the toppers on the s&p 500, we flip it over to the cisco systems disaster here. it's close to the bottom after the networking equipment maker's forecast for sales and profit fell below wall street estimates. it's down 8.66%. we do need to tell you that the stock is set for its biggest one-day percentage loss in nearly six years, and it lists on all three exchanges, s&p and nasdaq, not just the dow. what did it blame? sales in china. they fell 25%. cisco has said it's a real problem, this trade situation, and in a case of sort of tit for tat, perhaps, cisco says that chin

lauren: the s&p is down 4, nasdaq is down 19. ahead, it's are a twitter tussle, how bill mayer clutched back at rashida tlaib after she called for a boycott of his tv show. an awkward pitch from a 2020 contender. >> i apologize if you ever got to know donald trump, but this new yorker volunteers to get rid of him for you. thank you, everybody. lauren: pretty embarrassing blunder, turning bill de blasio into a laughing stock at a campaign event. keep it here on "fbn: a.m.." ♪ i'll be back in the high life again. ♪ all the doors that closed one time will open up again. ♪ i'll be back in the high life again. ♪ erage accounts. and zero minimums to open an account. at fidelity those zeros really add up. ♪ maybe i'll win ♪ saved by zero we all feel, we all love, we all cry. it's part of being human. sonoma county declared a homeless emergency in 2018. you have to know the individuals you're serving to understand their needs. working with ibm watson we can bring together data spread across dozens of departments. that gives us a fuller v

nasdaq is up by 104. >> okay.he opening bell on wall street dom chu joins us, with a look at the biggest movers this morning. dom? >> a lot of them, andrew, have to do with the continuation of the surge from the lows of last week on china trade, economic concerns and whatnot we'll highlight, first of all, what's happening with shares of casino operator wynn resorts, up 3.5% on 11, 12 shares premarket volume one of those with outside exposure to chien wna and the economy over there semi conductor trade key focus for investors, nvidia shares up about 3.5 percent, 150,000 shares of premarket volume as well semi conductors, another indicator or battleground for that u.s./china trade relief there. we'll finish with regions financial, among some of the banks in focus as the yield curve, that difference between long-term and short-term rates expands more, moving out of that recession indicator zone those shares up 2.5% on over 3,000 shares of premarket volume as well. and call your attention to what's happening on the ot

dow futures up 25, s&p up 3, nasdaq up 11.ve seen an evening out for the 10 year treasury. we're up 1 basis point. lauren: oil, big rally yesterday, prices giving back, actually gaining again this morning, up another 19-cents, $56.40 a barrel. let's check gold prices for you this morning. they are trading at $15.12 an ounce. cheryl: china setting the new prime rate, 4.25%, that could be really good for chinese real estate investors, plus another 90 day reprieve for huawei. as you can see, shanghai and hang seng a little bit of pressure. we saw gains there yesterday. lauren: mixed bag in asia, little bit of caution coming from europe, up arrows for the london and paris market. the berlin market is down 9 points. cheryl: the top story this morning, a white house official is denying a report that the trump ad medicine strayings is weigh -- administration is weighing a temporary payroll tax cut to head off a recession. the was washington post is repog the administration has not made up its mind whether to ask congress to pass a ta

apple down more than 5.25% nasdaq down sharply. the weakest of the three major averages we have five minutes to go last chance trade? >> i think if we want a theme here on a day like today, you want to start thinking about good names that have good prospects going forward. cisco is a name. they report q4 earnings on august 14th. stock is down 7% in the last couple of weeks or so. this stock found good support this year at 50. here is the most important thing. on their last call, in may, the ceo said they already have done the proper things for their supply chain that they think they're set up if this trade war continues to go and the last point i'll make is that this company should benefit from any bans on huawei it is a cheap stock, really well managed company, positioning themselves for the right technology trends here i think you start nibbling on the stock and earnings >> the risk is, maybe part of the reason it has been such a weak performer, if we are heading into a period of lower capital spending, we got a taste of it in th

the dow is up 71, s&p up 10 and a quarter, nasdaq up 40. one of its jets may be vulnerable thanks to the software. and two words, bacon intern. could be the opportunity of a lifetime, folks. we're going to tell you about it. keep it here on "fbn: a.m." ♪ because all i need is a beauty and a beat. ♪ who can make my life complete. ♪ (vo) the hamsters, run hopelessly in their cage. content on their endless quest, to nowhere. but perhaps this year, a more exhilarating endeavor awaits. defy the laws of human nature,at the summer of audi sales event. get exceptional offers now. lauren: more potential trouble for boeing, this time for the 787 dream liner. a security researcher reportedly leaked code that could allegedly allow someone to get into a restricted part of the plane's network and control its flight controls, its sensors and entertainment system. boeing denies the claims, adding it has run tests on the potential flaws a that consistent funder the plane's network is not vulnerable to hacking or security risk. cheryl: let's get you caught u

the nasdaq did just go positive. it is up by about 3 points in there apple is no longer one of the top three phone makers in the world. but if they make a foldable phone, they would regain a top spot finds more than a third of consumers had a reasonably high interest in bufrming a folding iphone, so much for the consumer and tariff, all the fears, they would be willing to pay up to $600 more for folding products >> i don't think you could pay me $600 to want a folding phone. [ laughter ] my first phone folded i could not tell was a motorola shell phone. when we think about what people say in surveys and what they actually do in life can be two completely different things. they're going to have some exciting things, but we're not going to see real growth in the smartphone until 5g rolls out. very much like why did i go to disney before this >> and we heard verizon talk about that we've talked to the providers as people just wait for the next upgrade. by the way, what would you do with the nasdaq here i mean, just to k

futures, extending losses from last week workweek week, for s&p and nasdaq nasdaq on pace for longestchnology, applied materials and microchip technology seeing steep losses in premarket trading. trade also hitting stocks around the globe, in europe we have red across the board a loss north of 2% on ftse 100 in england, it was even worse in some asian markets where hang seng, and kospi in south korea lost more than 2 1/2%. >> top story this half an hour u.s.-china trade tensions hitting market president trump, is speaking out blake burman live at the white house, with more blake. reporter: hi, dagen good morning a spokesperson for people's bank of china blaming latest tariff threat from president trump as reason china suddenly decided to devalue currency yuan breaking below 7 per dollar level for the first time in more than a decade from may, 2008 here when what that spokesperson said earlier affected by yun lat rallyism trade pro textism measures imposition of tariff changes in china renminbi depressured against u.s. dollar but renminbi continues to be stable strong against a basket

the s&p and nasdaq having their best days in two months. let's send it over to mike santoli for the market dashboard. >> thanks. here is what we have ahead for you. first, low conviction rate that is not conviction among investors heading into today bailed out by bond that would not be james bond, that's bond like treasury. nearing a verdict. this market has come to an interesting point, maybe going to tip one way or another and small claims case. that's a macro look at where we were in the cycle. we often look at sentiment on a thursday in part because there's a weekly poll. sometimes it's just noise and sometimes it's steady. today it was an extreme. there were 25% more bears than bulls. it's not a scientific poll but when it gets to the extremes it's pretty significant. you can look at these other areas where it was and it's more often than not closer to a low than a high in the market, so it's not just going to be the beacon that tells you where the market is going. all else being equal, when people get panicky, especially on a 6% or so

host "options action" at the nasdaq, of course.hat is coming up on the big show ♪ >>> president trump escalating the china trade war this week, and dan nathan says there's one group of stocks that could emerge as the big losers he'll tell us what that is >>> plus -- traders were fleeing the fang stocks in droves this week, but the chart master says there's one name that's about to bite back he'll break it down. >>> and later --

now down just about a hundred points with the nasdaq actually in the green, ever, ever, ever so slightly. the two big laggards are energy and financials we'll explain why, both down about 2% oil sinking to $50 a barrel. we'll have more on that later. that would explain why energy stocks are down 1 3/4%. >> the focus is yields banks around the world are cutting rates. this is sending u.s. investors into a selling frenzy. u.s. stocks have bounced back, fears remain about what it means for the market we have full team coverage to lay it out steve liesman is here to talk about the rate cuts, and let's start with you >> hello, everybody. the important thing is we're moving lock step with ten-year yields let's just take a look as yields move down, we had problems here, and yields move up off of the lows, the markets have rallied, particularly in the late afternoon the yields have come off their lows that's the key port of what's going on today we have had a nice rally most of this has not been cyclical, most individual stocks associated with consumer staples names, krogers for example, food st

the stock is the worst performer on the s&p 500 and the nasdaq. the cosmetics maker looking at a record percent decrease. look at it, down almost 30% right there after a sales and earnings miss. even model and billionaire kylie jenner couldn't rescue this company as it cut its full year profit forecast. getting hit as well, sally beauty, estee lauder. the last day of the week, the month and the summer, sort of, labor day marking that unofficial end of summer and our traders are at the new york stock exchange and the cme group to help us out, talking about what's coming ahead in september. that's what is on all the investors' minds. we have john, chris and ira. john, i will go ahead and start with you and say i'm not looking in the rear view mirror. most investors are looking forward, thinking about the tariffs that go into effect this weekend, they are thinking about the fed and is it going to cut rates. do you think that september will see some calm ahead even as august was so volatile? >> well, september has also been historically a pretty volat

nasdaq gaining 12.he economy discussed by the former fed chair, janet yellen with john hilsenrath. she says the u.s. economy isn't going into a recession and she added this about a closely watched bond market indicator that's flashing red. >> historically, it's been a pretty good signal of recession and i think that's why markets pay attention to it. but i would really urge that on this occasion it may be a less good signal and the reason for that is that there are a number of factors other than market expectations about the future path of interest rates that are pushing down long-term yields. lauren: rebecca wallser and craig dismuke join us now. good morning to both of you. >> good morning. lauren: craig, you just heard what yellen had to say. why is this time different when we're looking at the inverted yield curve that preceded the last five recessions, why is now different? >> well, i think there's a perception that because there's so much global liquid at this, because central banks pushed rates a

nasdaq down 114.we will have just a few minutes left for the whole week of trade. things could change within the break. don't move. (vo) the hamsters, run hopelessly in their cage. content on their endless quest, to nowhere. but perhaps this year, a more exhilarating endeavor awaits. defy the laws of human nature,at the summer of audi sales event. get exceptional offers now. kevin, meet yourkeviner. kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. liz: more breaking us into. we'll have the tape as the president getting on marine one. i am seeing this not just the chinese. he is waving the tariff wand at, he is saying he does not, it is about auto tariffs, the european union. auto tariffs against the eu are never off the table. he also says, if he doesn't get what he wants he will have no choice but to put on auto tariffs. now, names like bmw, mercedes, volkswagen. they're

live from the nasdaq market site overlooking new york city's times square, i'm melissa lee. traders on the desk are carter worth, dan nathan, guy adami, and we are joined by jack mills, chief investment officer at bryn march trust. going out with a bang, the s&p 500 handing out the best week since early june but it wasn't enough to turn the markets positive for the month all three ending august in the red, the nasdaq the worst performer. was august just the calm before the storm? we'll look at the big months ahead. we have a new round of tariffs kicking in sunday. that's followed by the jobs report later next week, then the central banks take center stage with the ecb meeting in september. then the biggie, the fed decision september 18th. are we heading into a september to remember or a fall to forget? guy. >> can't it be both? because i think people will remember september in the fall to forget. >> and want to forget it. >> right in this case the answer to your question is both welcome to jeff mills. look, it made sense to me that the market rallied this week end of the mon

they have the higher beta on a lot of stocks so fang moves the nasdaq nasdaq moves the markets we watch fang stocks every single day interesting how weak netflix has been having trouble getting any footing since really i think the disney announcement so that disney/netflix relationship interesting as we watch going forward from here. >> kevin, thanks for joining us. dow down 104 right now let's send it over to mike for the third dashboard. >> this pullback we have had in the s&p 500, about 5% off the record high and brought the valuation of the index below the 5-year average to look at the forward price earnings multiple of the s&p 500 it is now at about 16.4. the five-year average just above 16.5 what's interesting about it is it brings it back into the range where we spent 2016. we had another flattening out of corporate earnings and an earnings pullback back then. bond yields were very low. it's a much lower bond yield it makes stocks relatively more attractive and doesn't mean stocks have to go up from here this relies on earnings estimates in the outquarters beginning of 2020 you h

dow jumping 209 points and nasdaq gaining 70.morning we'll see where that heads. all right coming up if the united kingdom ready for a hard brexit, the u.s. may be headed for a hard brexit but learning well you know what we're going to move up because that got messed up. they make james bond best car, but now martin is planning on bringing you your own evil lair. [laughter] from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you pre-order a new samsung note. click, call or visit a store today. in the auction in california, a 1939 car built by legendary was expected to raise 0 million dollars at auction. but unusual blungedder put the brakes on it. 17 million dollars, 1

up,s&p and the nasdaq both still down a bit from major averages. shanghai composite in the asian session up 9/10 of 1%. a little bit of relief today on the part of global investors around the trade war tensions. where that is really being demonstrated, the emerging markets. let's take a look at the 11 day -- 12 day, actually, chart. down 11 days in a row, the longest streak for emerging markets going back to 2015. .ver that time, down 6.8% something to keep in mind, but we are seeing a little bit of relief there. we see in the u.s. also lots of relief supporting that risk off tone. sector composition very bullish. earlier, a few sectors were lower, but right now all 11 higher. we also have utilities and consumer staples, defensive sectors. up top we have tech, one of the growthiest sectors out there. the bulls are really buying the divot. helping out the s&p 500, let's take a look at a few of the individual movers. soaring,ing to see amd up nearly 14% on a new chip. close to with broadcom buying one of their units for about $10 billion. that stock

s&p futures up 6, nasdaq up 32.ere able to come back from sharp losses earlier in the day to actually end higher. the dow finished the day slightly lower. but it was much worse, it was a 2.6% plunge, almost 600 points at its worst and then came back to end down 22 points on the dow. european indices are continuing that momentum today, take a look. we've got the fq100 up 14, cac up 62, and the dax index up 90 points, three quarters of 1%. in asia overnight it was green across the board. japan allowing exports of semiconductor manufacturing materials to south korea. we also have another central bank cut, this time from the philippines and this one was expected. they lowered their key rate by 25 basis points. china with a surprise increase in exports. the july rise of 3.3% mostly due to shipments to europe and southeast asia. this as exports to the united states were down 6.5% as far as imports. what it all means for the future of trade talks, coming up. more big tech privacy issues to tell you about. reports that micr

nasdaq got a little over $2. there's stocks individual names to watch.eporting a drop in profit and revenue but both beat expectations companies also warning of softness in the computer storage market saying trade tensions lead to uneven demand. the ceo will be on squawk on the street today at 10:00 a.m. eastern and shares were above expectations but the software maker cutting it's outlook for the year it's being conservative though and keeps an eye on trade tensions and macroeconomic uncertainty. >> when we return, new developments surrounding purdue farmer and the family. we'll bring you the latest news in the lawsuits against the company and it's involvement in the opioid epidemic next later, bethany mclean will have the latest on that case and her piece in vanity fair stay tuned you're watching squawk box on cnbc this is the couple who wanted to get away who used expedia to book the vacation rental that led to the ride ♪ which took them to the place where they discovered that sometimes a little down time can lift you right up. ♪ flights, hotels, cars

the nasdaq again, really the pressure is heavily on the nasdaq.e tech companies, think about apple, think about all the chip makers, china is the story. the president ordered, quote, ordered u.s. companies to abandon china. the fed chairman jerome powell said the fed would act appropriately to sustain the economy. he warned about global growth concerns, he warned about, yes, trade uncertainty this morning. here's a look at the fed funds futures right now. this is the bet, if you will, traders are making, whether or not we are going to get a rate cut. maybe it's a quarter point, maybe it's a half point. right now charnnce of a rate cu for the september meeting, a quarter point, 100% chance. 100% chance we will get a cut for the september meeting. all of this depends on what the fed decides to do. they are always data dependent. want to show you the yield curve. we have been watching this. the inversion of the yield curve which is the two and ten-year, if you see this happening and hear this happening, it means there's a feeling in the bond market t

nasdaq going green thank you. i'll start with you in this latest round how is it being assessed by traders right now and how does it speak to the broader risk out there? >> i'll tell you, one, we'll get those out on thursday. one is weaker than anticipated they'll do the shock anda. now is it going to speak on friday the topic is in the monetary policy he will use jackson hole as a forum to communicate dovish signals to the market. there is significant minority that wants 15 basis points out there. they'll be disappointed that they won't give that nod there is a lot of risk to the down side. this whole case here is a little problematic short term >> the stock market trying to losen this market. that yield went down to the lows of last week, you have the stock market a few perfect higher. apple perks up they say what does the macrohave to do with me nobody has gotten that much more confidence on the other hand, the yield being low. >> that is my point. we've vague hopes for more stimulus in china. vague hopes for e

nasdaq down 117 at the open. dow jones indicating a lower open of 275 points treasury yields, take a look at this, remarkable levels. 10-year yield, 1.768%. we are seeing the lowest level since october of 2016 on the 10-year note we should also note that yield curves around the world are feeling the pressure as well we did have on friday the german bund, the 10-year, falling to its lowest level ever. as for the asian markets, the nikkei down by 1.75% hang seng also pressured by what is going on in hong kong in terms of the protests there, down 3%. shaun hi shanghai down 1.6% in europe, red arrows across the board. dax is down 1.35%. ftse down, as well we have a stronger dollar against the major currencies weaker crude, wti down 0.7%. brent down 0.75%. >> couple safe haven trades working this morning, gold prices are up. they actually have been on a great run. they were under $1300 about two months ago you see them up only slightly, little less than 1%, probably because they had been so strong lately not a lot of

the s&p up by 23 and the nasdaq up by 61 points as well.ond market right now is already in focus because yields are creeping higher. the yield on the ten-year treasury note right now currently just around 1.61%. the two-year note yield 1.53%. so for those keeping score, that eight basis point spread between the two getting wider after an inversion that briefly happened over the course of the last couple weeks let's go worldwide now in asian trading, central banks in china unveiled an interest rate reform aimed at helping lower borrowing cost for chinese-based companies. that in turn helped send the entire market in asia higher the shanghai composite up by over 2%. the hang song in hong kong up by over 2% as well and the nikkei in japan up by three quarters of 1% >>> in european trading, stocks there helped by comments from germany's finance minister saying his country has the fiscal strength to mitigate any future economic crisis with, quote, full force. he suggested berlin could free up around $55 billion of extra spending in that fiscal s

the nasdaq indicated higher by only 2 points.g way to go let's get a quick check on what's going on in the energy market you can see the price of wti crude is higher by about a percent. brent crude higher by .6%. wti sitting at just over $54 barrel let's get a quick check this morning on the other headlines phillip is in new york with the latest good morning, phillip. >> good morning. as tropical storm dorian approaches puerto rico declared a state of emergency overnight it passed nearby the island of barbados and if it continues as predicted it's expected to hit puerto rico tomorrow the island is still recovering from hurricane maria that made landfall nearly two years ago. it was the deadliest natural disaster in u.s. history killing 3,000 people and destroying the island's power grid. people there are stocking up on water, food and back up generators supreme court justice ruth bader ginsberg isn't letting a cancer scare keep her down she accepted an honorary law degree from the university of buffalo school of law and cracking

but to your point, the nasdaq up nearly 20% this year the s&p has done well.e have room, i guess, to wiggle, do we not? we have room for earnings estimates to come down, for the markets to come down, and still have a pretty good year for stocks >> i think that's right. the economy is still strong even if it has decelerated. a lot is made about the fed and the fed put and this insurance cut. i think the challenge is that this is a party that's gone on for a long time. if it's slowing down it's because the guests are tired, not because the fed needs to refill the punch bowl. the biggest challenge is the fed, it's a credibility issue -- >> do they need to cut rates in september. >> the challenge is that the fed lost control of the yield curve. there's question if they had any control of it over the course of this cycle to begin with the market is saying yes, the fed will cut rates 100% in september. we look at the economic data, the yield curve is flashing yellow right now it's not -- >> yellow or red >> still yellow right now. we're about ten basis point spread

nasdaq now, kate rogers with the movers there kate >> that's right.are closing out the week here higher at nasdaq and for the month down just about 4% breaking a 2-month streak here the russell 2000's also down over 5% for month of august. to the downside in august, ulta was the biggest laggard, kraft heinz down 20% sea trip a loser here and net app seeing losses. and then to the upside bio techs, amgen among the winners, costco and pepsi seeing gains of 7% and over 10%, guys. >> thanks very much, kate. mark, we have banks down some 9% for the month overall. that's even after a strong bounce, 4% bounce, this past week is there still value there >> i would say, no i'd be avoiding the regional banks specifically they can't make money given where the net interest margins are right now given the yield curve. that's one of the reasons we are avoiding small caps in general right? there's a very heavy concentration to regional banks within the small cap index and they have very heavy concentration to industrials which are cyclical within small caps, you have