stephen morgan fox weather meteorologist. another economic storm that could be brewing as 45,000 doc workers expected to walk off the job at midnight tonight. how likely that is and what the impact is. what are you hearing? >> we have some late developing information for you after weeks of an impasse. no talks between the workers and the employers. we are hearing from choices talking to foxbusiness that just today the employers represented by the u.s. alliance just made a counter offer to the union. we are also hearing that the union call with labor secretary julie hsu. we understand that the call just concluded. we do not know the exact details of what was in that counteroffer conveyed today. until now, the employers were offering somewhere in the neighborhood of a 32% wage increase i can also tell you until now that the union was reportedly demanding a 77% wage hike. the union also wanted increase protections from automation. issuing a new statement today within the last hour writing this. the u.s. maritime alliance want to

equities facing darker prospects after a weak earnings season as jp morgan dumps its buy recommendation on a renewed u.s. tariff war. stephen: president xi jinping has laid out his vision for ties with africa, promising about $50 billion in financial support as well as increased military assistance and market assess -- market access. paul: we are seeing a moderate recovery in the asian pacific after yesterday's selloff, averill hong has a closer look. averill: steep decline, markets recouping some of from yesterday's losses. some declines on these major encz marks, this was driven by the ai narrative, taking a pause as traders were finding trouble justifying how far it has,. indeed on some of these ship names leading rebounds today, we are seeing the likes of taiwan getting an added boost thanks to the ceo of a supplier dismissing ai worries and the nvidia meltdown. data out of the u.s. overnight cemented those aggressive fed rate cut bids, and the 10 year yield dropped about 10 points overnight. steadier now but the back of a softer dollar into the and gaining ground. we saw an added boost for the chinese currency after th

stephen: below five. we are seeing goldman sachs lowering its outlook for growth to four .7%. morgan stanley, 4.6%.nd sadie followed suit this morning also saying 4.7%. and worse next year, anywhere from 4.5% to 4.2%. i think it was morgan stanley that said essentially, china is getting stuck in a debt deflation loop. i think goldman cited it as well. we know what happened to japan in the so-called lost decades and the deflation trap and the issues that china is facing. i was in shanghai the week before last. the pboc governor spoke outwardly about the issues of the threat of deflation and on friday the pboc it self came out in a rear statement saying that a big priority going forward for the rest of the year is combating deflation. factory gate deflation has been deflation for 23 consecutive months. tom: 23 straight months of softer prices coming through. stephen engle, thank you for the context around this new and grim data set coming from china and the potential policy response. shanghai has been hit by the biggest iphone -- typhoon in more than seven decades. disrupting holidaymakers at the sta

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stephen: it is an honor! thank you, chris! there you go! [cheers and applause] that whiskey really opens up the throat. your wife morgan you work together well? >> chris: we do, as long as i remember that she is always right, then it works out. >> stephen: is that a common relationship with the producer? you also collaborated with another wonderful woman. i'm a big fan of, that's dolly parton. what is it like to get a call and find out that dolly wants to do something with you? >> chris: it is a very surreal thing, dolly called me herself, and you are on the phone with dolly parton in your kitchen and my wife and i are silently freaking out. but she was -- just funny and personable and as dolly parton as you can expect. >> stephen: what are you performing tonight? >> chris: we will do a song called "what do i mean to you." >> stephen: we are looking forward to it! his album, "higher," is out now. stick around for a performance by chris stapleton. cheers! ♪ ♪ >> stephen: and now performing "what am i gonna do" from his album "higher," chris stapleton. ♪ ♪ ♪ what am i gonna do ♪ ♪ when i get over you? ♪ ♪ what am i gonna

stephen trent of citi. that conversation is up next. ♪ ♪ at morgan stanley, old school hard work meets bold new thinking.nd relentlessly work with you to make them real. jonathan: the opening bell one hour and 12 minutes away. equity futures just turning positive on the s&p 500. 0.05%. morgan stanley maintaining the overweight rating on costco siding strength three e-commerce momentum. increased confidence in the retailer's winning position in the near and long-term. bank of america downgrading hp to neutral from buy siding margin erosion in the company's printer division. the stock off by 3.6% in the premarket. stephen trent reiterating his neutral rating on southwest airlines as nsi stock buyback and new passenger policies suggesting the management team remains in the driver seat. good morning. good to see. stephen: thanks for having me. jonathan: let's start with premium offering at southwest. how does it compete with others in the market? stephen: great question. i think that the premium you will see from low-cost carriers will not be the same you would find on a delta or united. post-pandemic there'

stephen schork. it is almost overwhelming how quickly things have gone bearish. we've had revision from goldman, morganey, fears about growth in china, if that is misplaced or not, fears about being oversupplied in 2025. lisa: this goes to the heart of the question, is it supply or demand? at what point are people overestimating or increasing their expectations of a demand falloff in tandem with some of the weaker data we've gotten economically out of the u.s., europe, and in particular china? jonathan: triple digit crude and inflation being too high. lisa: gas prices have fallen off of the cliff. even in last night's debate there was a question about the eminence of some of these points at the same time you're seeing oil prices decline is such a great degree. jonathan: a: 30 eastern, look out for the debate when cpi drops. in the third hour of bloomberg surveillance, a snapshot of the price action, equities recover slowly. still lower by little more than .1%. in the bond market the rally continues for the seventh consecutive day on a 10-year maturity. deals lower by two or three basis points, just abo