and we're back with course to on wall street now again what is wall street expecting now with regard to future rate cuts. jerome paul as expected did not clearly mention that we are going to see another interest rate cut anytime soon he said that he's going to he and his fellow. members of the federal reserve are going to close the observe the developments and then act accordingly but the bets on wall street are crystal clear investors here see 100 percent chance that we will see another rate cut at the next meeting mid september and chances for another rate cut in october stand more than 70 per cent so wall street is convinced the world see those rate cuts and that actually calmed the market a little bit before we got this tweet storm from a u.s. president donald trump. card to there with us on wall street thank you very much and returning to the topic of tariffs at this time from the u.s. on french wine wine is francis 2nd biggest export the u.s. is by far its biggest market and last year it important $3600000000.00 worth of the stuff washington has threatened to slough flop huge l

and we're back with course to on wall street now again what is wall street expecting now with regard to future rate cuts jerome paul as expected stood not to mention that we are going to see another interest rate cut anytime soon you said that he's going to he and his fellow. members of the federal reserve are going to close the observed the developments and then act accordingly but the bets on wall street are crystal clear investors here see 100 percent chance that we will see another rate cut at the next meeting mid september and chances for another rate cut in october stand more than 70 percent of wall street is convinced the world see those rate cuts and they've actually calmed the market a little bit before we got this storm from a u.s. president donald trump. card to they're with us on wall street thank you very much . and returning to the topic of tariffs at this time from the us on french wine wine is france's 2nd biggest export the us is by far its biggest market and last year it imported 3600000000 dollars worth of the stuff washington has threatened to flop flop he would l

price when over became public here on wall street by early may investors riding a hopeful wave thank you very much chance carter there in new york for us at the end of october britain is set to leave the european union with or without a formal departure arrangement with the e.u. a so-called new deal frags it would cause major disruptions to travel in trade causing food shortages and raising food prices by as much as 10 percent here its largest port producer has said supermarkets could struggle to stock their shops. in normal times britain is since pigs would end up on british dinner plate danish heritage produced beacon beloved by brits but these are abnormal times the growing chances of a new deal breaks it has left utopian farmers like her fearing for their futures. i am a little worried but. we have had 3 years to get this so i think we are well that we have made a very special product for the for the u.k. market i think it will be very sad if. it cannot sell it for english millennium anymore. at the danish crime processing plant the preparing meat for the global market the compan

numbers with a grain of salt but wall street is taking what it can get stay where you are young because there's more market moving use to chat about and ride healing service has set a record but probably not the kind it wants it posted a loss of $5200000000.00 for the 2nd quarter its deepest reported so far as a revenue rose of 14 percent on the year to $3100000000.00 its lowest quarterly growth rate the company has struggled to overtake concerns it would ever make money and it's back to yes quarter on wall street yes are you there we should see you in just i mean i meant but hello yes how are investors reacting to those numbers from hooper they're not great are they well i mean ober is facing a couple of battle it's all over the glade with regulators with competitors with drivers and those numbers clearly were worse than expected in an initial reaction and after all we're trading the stock dropped by as much as 10 percent that then after a c.e.o. spoke and was kind of upbeat that at some point he's convinced over might become profitable we did see some of the losses narrowing down a bi

wall street indexes seesaw after positive retail figures take the edge off a steady stream of bad news so is the global recession called off not quite. and is the farm coming to the big city we'll take you to a growing operation in the big apple. this is your business report i'm stephen bears in berlin thanks for joining us another day on wall street another volatile session markets ultimately ending in positive territory today after solid u.s. retail numbers suggest that american consumption remains strong and that followed the worst day of the year for stocks with both the dow and nasdaq losing 3 percent wednesday on new recession worries the ups and downs of the markets are not going unnoticed u.s. government is now trying to call investor jitters. here on wall street traders cheered retail giant wal-mart strong quarterly earnings the figures columns nerves on the floor they show us consumer demand is strong despite the trade war with china the trumpet ministration lost no time issuing a statement assuring that the u.s. economy is healthy. i think on the economy. weak right now i th

let's see what samira hussain said from wall street.clear investors here on wall street were spooked by china's move to devalue its currency. us financial markets had its worst day in all of 2019. investors interpreted the move as an escalation of the trade war tween the united states and china. that said, the dramatic response by investors could also be explained by other things that are happening within the us economy. trade tensions have exacerbated the concern over weakening corporate profits for all of 2019. it has exacerbated the fed not taking an aggressive enough approach. and then now, with additional tariffs being thrown on by the us and then the chinese responding with the weakening of their currency, i think all of that together has caused investors to say i'm going to sell first and ask questions later. so what now? it's possible us financial markets may experience a p0p: financial markets may experience a pop, something that can sometimes happen after these kinds of dramatic falls. but it's also possible we may see even fu

but according to recent articles, wall street is finally addressing its culture of sexual harassmentered a story that i'm thinking about ripping off as my own story about how the culture is really shifting on wall street and how men are actually changing their actions when it comes to #metoo. - that's right. they are changing their actions when it comes to #metoo, but not in a way that benefits women. - oh, okay. sorry. i-i didn't really read it. i'm busy. - and in fact, it's--it's quite the opposite. #metoo seems to be having a backlash on wall street where men seem to think that they should stop interacting with the women that they work with. - what? - and we actually spoke with some men who were rethinking about ever even hiring a woman again. and we talked to this one man who said that he doesn't have dinner with women under 35 anymore. - that's the stupidest shit i've ever heard. what are they afraid of? - there seems to be an actual paranoia that some women will make up a false accusation against them that could ruin their careers. - so men are pretending that women are pretend

all the chatter on wall street on a possible cooling of the u.s. economy and all those tweets from u.s. president donald trump obviously have not reached the vast majority of u.s. consumers even if you look into detailed mostly discount chains doing good and there is an interesting trend just recently here in the united states that the top earners on wall street that the super rich they actually start. spend a little less so maybe that is a sign that at least part of the country are where or are a bit skeptical skeptical if the economic growth that we see can still be continued and what we also shouldn't forget as those figures published for the 2nd quarter meaning ending june 30th sold the latest round of tariffs that the u.s. president was talking about in july are not actually part of this report that we got here on thursday now speaking of the trade war there seems to be a new twist to it every day now china sounded hopeful in negotiations. well at least china was hinting that they will not start increasing the terrorists coming this sunday bot

elements of wall street, elements of global policy.elson rockefeller became the vice president while david rockefeller was running chase, which at the time was a major bank. it was a major power player at chase. but david rockefeller during his time as he was rising to become the chairman of chase, was also working more outwardly with other foreign policy initiatives. more closely with the middle east and finding ways for middle east money. money that was made out of oil to be used as currency, as collateral for loans that chase could make to latin america or other developing countries and make money off of that. therefore a very symbiotic relationship and influence chain. they threw him, had this ability to access moneycoming from an external place . and linda to another external placement that way to take themselves into a position where they could control what the government was doing as opposed to having to be a team player. because they had this extra pot of money coming from somewhere else. he was also an advocate of going off th

but wall street knows just how ignorant donald trump is. wall street has always known that. they know that better than most of america, and wall street knows that there is not a single responsible adult in the trump administration who when the situation calls for it can get on his knees and pray to nancy pelosi. wall street knows that there is not a single responsible adult in the trump administration who has any idea what to pray for, who has any idea what to do, what action to take, and wall street knows that there is not a single person in the trump administration with the courage to bring this president bad news. and so no one will ever walk into the trump oval office and say what george w. bush could say in a moment of crisis in the american economy. "this sucker could go down." leading off our discussion tonight, gene sperling, former director of the national economic council for presidents obama and clinton. he is who i pray to when i am looking for a solution to american economic issues. and ron klain, former senior aide to vice president joe biden and president obam

wall street clearly wanted more and wall street still has a haoblem with the communication of the fedhe fed is really trying to identify as the thing that it will really anchor policy going arward. know inflation is incredibly low. we know e the globanomy is not doing well. we know the u.s. economy is doing rather were. so people very, very uncertain as to what the fed's intentions and what is leading the fed going forward from here. >> michael, does this change anything about your view of the stock market, whether or not they -- the market is expecting another rate cut -- >> yeah, i mean, look, today wat the time that a central bank has cut interest rates since lman brothers went under. .n fact, brazil just cut rates, so 729 n the markets are up massively since then. the markets love interest rate cuts. the markets are addictedo liquidity. so i think that, you know, part of the reason, you know, been very bullish this year is we've seen a pot by the central banks, everyone has been arish. expectations that the global economy will find a trough. i think it tempers the upskee for m in

liz, i will worry about the "wall street journal" when the main street journal starts criticizing me the manufacturing. we are over half a million manufacturing jobs in this administration created, over six million new jobs, compared to the last administration, they lost 200,000 manufacturing jobs. we're on track -- let's talk about james bullard because i think james bullard is probably my best witness against the "wall street journal." he indicated that we have a sound economy, that we have a good outlook moving forward. he also in my judgment, listening to him carefully between the lines, virtually guaranteed a rate cut -- liz: not 50 basis points, though. he wouldn't go that far. >> he was noncommittal about that. he was very careful to say that he didn't want to get ahead of the other governors on the board. the one thing that i think was interesting, though, when he was talking about a flight to safety, one of the things i think that the federal reserve needs to acknowledge is this dynamic. when you have u.s. interest rates several hundred basis points above europe, what we're

we watched wall street gin up a little business today, dow with worst important of the year, wall streetaking a beating and investors as well, putting it straight on tension between u.s. and an escalating trade war, do you agree? >> this is a massive over reacted, i think what happens you get day traders moving in you get trend trading and before you know it. there is a lot of volatility, and good people lost money today because they got shaken out of the market, underlying fundamentals are solid as a ro rock. moving forward we'll be fine. the big news on the currency front, is that important, to american people, when china for example devalues their currency by 10%. lou: let's stay on -- i know you are excited. we're talking about economics and policy, but let's turn to what we have known for some time, that is that china manipulating itself currency. previous administrations did not in anyway, it was obvious that china is manipulating its currency, they chose not to. president has taken that step at long last, when somewhere consequences will there be for china as a result of maybing t

why does m wall street hore confidenceness what's going on right now than down the road. >>ee we'ing concerns that sgroj in theat united st grow and it's been more interest ekt asked and u.s. depend more and more on abroad and multi-nationals and talker names are heavily exposed to abroad investors are ket geceing coned maybe u.s. is not immune red they' putting money to riskts free asse. >> are there trade policies in the united swtes involved in no that wall street doesn't like. obviously we have been talking a lot about china and obviouslyhere's uncertainty in europeight now about how l turn out is this a globalio rean or is there something t here he united states particularly to us that is csing this. >> wit what you have are a number of different things you talked about hong kong and that's -- nobody knows how it plays out. this is important weigh station between east and west and capitalism and china ayou h. i think trade thoug the concern we've been hearing fromec businesutives is not so much we don't like ravives it's that may be true and it's becoming more predic

are concerned, david. >> rebecca jarvis live on wall street for us tonight. rebecca, thank you. >>> meantime, overseas tonight, north korea reportedly firing off a new round of projectiles. south korea's military reporting tonight that the north fired two unidentified projectiles into the east sea. that's the fourth launch in just two weeks. and this one, on the day that joint exercises between the u.s. and south korea started up. one american official tonight saying the u.s. is monitoring the situation and is consulting with our allies. >>> there is still much more ahead on "world news tonight" this monday. the emergency landing. smoke filling the cabin of a passenger plane. the images coming in tonight. >>> we also have news on two pilots arrested, accused of being too drunk to fly. that flight was headed to newark. the flight canceled. we'll have more on that. >>> and then, the pictures coming in this evening, the massive explosion at a military ammo dump overseas. the extraordinary images. a lot more news ahead tonight. we'll be right back. we'll be right

is dead averse germany about to borrow to stimulate its economy wall street thinks so and it ended a wild week with again but don't count out market pessimism we'll talk to our correspondent. and one of germany's best known brands turns 70 show you what a long profitable journey it's been for us. this is your business report i'm stephen beers in berlin thanks for joining us stocks on wall street climbs friday as investors look to end a turbulent week on a positive note the dow jones industrial average ending the day up by just over one percent report that germany is open to an economic stimulus package helped bring buyers back to the market it appears the berlin government is willing to suspend its balance budget rule and take on debt investors hope that europe's largest economy can steer itself away from recession. and let's go now to our financial correspondent in new york jose luis to horo was a good to see there so say everyone everyone's watching germany here why is everyone watching germany why are investors so interested in german fiscal policy. well stephen as you mention eve

. >> stocks skid, aave of selling hits wall street w00t as investors concern the trade troublesheill slow global economy. >> banks fall. the sector retr yts aslds fall. that could cut into the profits of an industry that isns ered an engine of the economy. at dazed and confused. the intense vity is putting focus on the outlook for earnings and it isn't those stories m ande tonight on "nightly business report" for this monday, august 12th. a >> we do bid you a good evening and welcome. here we go again. stocks plunged today to start what may be a another volatile week for ihe markets. ue once again is the future of the u.s. economy. and given how stocks have been trading around the world lately, investors appear to more ncerned that the trade war between the united states and china will linger for a while, further damaging the global economy. all of that fueled another rally into the safety of treasury bonds, sending some yields to multiyear lows which some analysts say could be signaling a comingrecessio one strategist today went so far as to say that the wall street bear isnd alive

world it summarizes our global economy and i'm still all that i remember when i was working on wall street in argentina 1st went bankrupt in the eighty's you know and that was an exciting time you know wall markets rates are near all time lows and yet sales of homes continue to decline so are central banks pushing on a debt string at this point can lower rates help the debt saturated shrinking income consumer right so you know. having reached the end game you know the stimulus of lower interest rates like any heroin or coke addict or junkie financially run out of stimulus because you're dead so he at that point but in some markets especially on the west coast or in some markets in the east coast your prices are really high the low interest rates are secondary now yeah i mean you know when you pay $1700000.00 for a median house and meet you know houses in a small little rink you think how some moreno. you know you have other problems because now you need to have some $100000.00 in income to live in that kind of house and we have that kind of income do you really want to live in a median hou

well i mean at least i'm there has been some relief here on wall street that we covered a little less than half of the losses that we saw on friday still if you talk to traders here on wall street they would love to see the twitter account of the president being blocked because just one tweet and the entire mood here on wall street can change once again so most people believe that a deal still might be far away but at least for now there was a little bit of relief even if you look at the companies of the stocks that did not do to great year on monday those who are stocks of companies that would potentially suffer if the trade for further escalates now yes this trade dispute has been going on for over a year now what is the best possible outcome at this point oh well i mean. what i'm hearing mostly is a truce already would be almost the best case scenario hardly anybody really believes that we will get a real deal any time soon but we shouldn't forget the next round of tariffs probably will start on september 1st the from both sides from china and from the united states and well everyb

number two he made an exception when it occurred with wall street. number three he did not believe the way to address wall street was a regulation because like brandeis and others thought regulation always failed and never worked so he believed in breaking up concentrations of financial and political power. those of the three main points. born right before the civil war and had to quit at age 14 he read shakespeare the ancient poets like lincoln was self educated and very well-educated. he started to sell newspapers on the corner and then became a printer's assistant and a reporter for the paper than an editor that the editor when the owner wanted to sell it he arranged it so he could buy it. given the state that drafted very well a very successful businessman in the context of reconstruction devastated south. so he went into politics but there is only one party to join, the democratic party. he made his fame as a virginia senator coming up with a way to amend the constitution to deprive all blacks of the right to vote and that made him a hero to whi

joining us now as our correspondent on wall street yes quarter yes this sounds a bit like mixed messages from the white house what are investors making of the repeated reprise on the one hand comments of a continued move away from wall way on the other hand. well for now we mostly saw some relief on wall street then that was basically true for all the chip semiconductor companies that are doing quite some business with you always the chip stocks for example being among the biggest winners but then we also had this dinner friday night between pull. tim cook and us president donald trump and there to the current administration might think twice about implementing certain terrorists that would also hurt the business overall we might see this scheme again so that the current administration creates a problem to eventually solve it and get some credit for it so this issue certainly is far from over but we got some more time and that was seen as a positive here on wall street a lot of behind the scenes maneuvering there but one way is doing its best to seem unfazed either way should it be unfaz

the plunge on wall street. stocks in a free fall today. the dow falling nearly 3%, closing down 760 points. the worst day this year. abc's rebecca jarvis is live on wall street for us tonight. rebecca, a big move fr, china labeled as a currency manipulate toy tonight. >> reporter: that's right, david. consider this a major escalation. the big question on wall street tonight is how much longer this game of chicken lasts. u.s. businesses acknowledge they would like to see a more even playing field with china, but this latest round of tariffs means consumers here in the united states, as well as businesses will be paying a higher price for everything from toys to clothes to shoes to phones to computers, david. >> and rebecca, so much of this trade war and this tension with china is what's leading to this uneasiness on wall street. any sign that's going to ease any time soon? >> reporter: no, absolutely not, david. the volatility looks like it will continue here on wall street and around the globe as far as stocks are concerned, david. >> rebe

. >> no recession ahead in spite of what wall street says president trump is confident in his economy. >> i don't think we're having a recession. we're doing tremendously well. our consumers are rich i gave a tremendous tax cut. and they're loaded up with money. >> lots of pro democracy demonstrators rally in hong kong as china condemnt increased glol attention. >> meet the superstar actress with a household name you ma not go government put her life at risk. >> riding high and inspiration to get disabilities back in the water. "early today" starts right now >> good monday morning i'm phillip mena >> and i'm dara brown. we begin with wild weather that has been sweeping across the country. dangerous storms tore through the midwest and northeast. at least nine people were injured after a lightning strike sent a tree crashing down on a tent for more on the latest round of severe weather here's nbc's kathy park >> reporter: bursts of lieening lit up parts of kansas while two hours away 80 mile per hour winds toppled trains dozens of railcars had to be turned up right with the help of y ch

it is fatling danielle it was conducted by the wall street journal and the paper found that more than $4000.00 products for sale on amazon were reportedly mislabeled banned or declared unsafe by federal agencies the products named in the report include f.d.a. approved items that the agency never batted like medication without child safety warnings sleeping wedges for babies that have been banned toys with potential choking hazards and they illegally imported prescription drugs among many other items they even found more than $150.00 products that amazon itself had banned and many of the products were labeled. amazon choice so the bigger story here really is how amazon handles all these 3rd party sellers it's a massive network that has exploded on the scene over the years and really become too big for the company to moderate what's being sold so according to the newspapers report amazon uses a combination of people and machines to flag products but they just can't keep up sometimes the only way to know who is selling a product is to look for the text that it's sold by amazon dot com bu

it represents wall street. "the wall street journal" never saw an american job it didn't want to -- >> but let's talk about tariffs which has consumers concerned and businesses concerned. the president delayed some of those tariffs until after christmas, why would delaying tariffs help america consumers? >> i love this question, we have $300 billion worth of chinese exports that didn't have yet tariffs. what the president did was, he looked at that and as of september 1st, about half of that will be tariffed at 10%. now the other half, why didn't we tariff the other half? one of the things that the president does beautifully is engage with the business community, labor leaders and everyone in between. i was sitting in the oval office when a group of executives came in and told us this, martha, all the stuff they were going to have on their store shelves during the christmas holiday, already bought in dollar contract. it means that these people did not have any power to basically shift the burden back to china,

according to a copy of the document reviewed by "the wall street journal".ntually fell apart when the relationship soured. but that's not the only dodgy property deal. documents show he asked the nra to pay about $13800 to rent an apartment for a summer intern part of a 15 year history. ripped off nra members for the benefit of himself and those to him. according to internal document wayne spent over $270,000 of your money on clothing between 2004-2017. in two instances he spent almost $40000 in just one day. at this beverly hills branch of a luxury boutique and a new report revealed that tens of thousands of dollars of nra donor funds were used on flights and luxury hotel stays for hair and makeup artists for wayne's wife and they traveled with her for events because apparently those are the only two stylists in the whole country capable of doing the job. why shouldn't your nra dues paid for his wife's beauty entourage? what's that? because she's worth it. he also wrecked of charges of more than 250,000 in luxury travel and rent costs with nearly $70000 of

better day after wall street, a much better day after wall street essentially suffered its worst dayar on monday, so it is picking up from there. margaret young from cmc market explains the seesaw in global markets this week. this help alleviate investors‘ concern of an escalation of this trade war into a currency war. and i think china‘s policy makers showed they are willing to come back to the negotiation table with president trump if he is willing to remove or defer these new tariffs in september. 50 what defer these new tariffs in september. so what did you make of the extraordinary market reaction on monday when of course the chinese did weaken the yuan quite considerably, did you think that was an overreaction? why are investors s0 nervous an overreaction? why are investors so nervous when they‘ve surely gotten accustomed to seeing this trade war blowout? 7.0 was long considered a threshold or a level that was going to be defended on. and this is the lowest level of currency of chinese currency in ii yea rs. currency of chinese currency in ii years. so, the consequence to the m

so the "wall street journal" -- it's walled the "wall street journal" for a reason it represents walltreet. the "wall street journal" never saw an american job it didn't want to offshore. liz: tough word for your company. >> we are for the rule of law. we edito edof d we editorializey times. if he's looking for better treatment of american companies. but tariffs put an enormous cost on the economy. this is by many measures an outstanding economy. but what we are not seeing is a lot of corporate business investment and that's the fear of tried fights that's making executives reluctant. liz: business investment versus consumer spending. it's almost like when we hear the recession talk in the media, everybody gets so much information all day long, they lose their common sense. three things trigger a recession. >> mistakes by the administration can certainly contribute to an economic problem. 2% growth is good, that's what we had last square. why are we even growing faster. liz: but that's not a recession. that's a slowdown. >> what we are talking about is the threat created when you don'

territory the big driver overnight for europe is that of an interview that olly renn gave to the "wall street journal" saying a big bazooka is coming as early as september. that is giving a lift to fixed income and to bonds, the bank market let's take it out and talk about bourses. ftse 100 is opening with technical failure. xetra dax is up three quarters of a percentage point. the german index recovering some of the losses lost earlier in the week the germing inan index is downt 1% for the week. the ftse mib, having a positive start to the session but again, the action was in yields let's talk about what's going on there. starting with u.s. treasuries. the ten-year at 1.55 now another big rally yesterday about eight basis points or so interestingly enough despite the valley we've seen that twos and tens curve, we talked about it yesterday, marginally resteepened. it's back in positive territory. yields continue to be driven lower. talking about yields being driven lower, ten-year bund, new low today. minus 70 basis points is where we are now the latest catalyst again being that anticipation