/china trade walks. some market watchers had linked all of the china angst to the surge in bitcoin as well. >> we're going to calm down after all of that. this one is just for kate. the meditation app and official tech unicorn calm has raised another $27 million. that's on top of the 88 million they raised just in february one thing that is helping to fuel the interest is the success of their sleep stories where celebs like matthew mcconaughey and steven fry read to you to help lull you off to sleep. >> i want to clear something up, matthew mcconaughey does not lull me to sleep at night. i do use this app. i meditate pretty much every day. they have guided meditations, which i find really helpful. it can be really hard to sit there and unplug and not let your mind race and think about other things they talk you through it in and out, which is really nice, and they have a light rain melody that i like when i can't sleep at night >> i used to have those rainfall and thunderstorm cds when i was a kid. i lov

and that the fed has room to take back that december rate increase that we saw, and that he expects china to purchase our foreign products even as the trade talks continue let's talk more about this bring in jimmy, a fellow at the american enterprise institute and a cnbc contributor steve is also a cnbc contributor. lindsey is chief economist at stifel we're having conversationsunts the fed's independence when somebody asks you why the fed should be independent, what do you say >> i say having a central bank that is at the beck and call of elected officials is a good way to have a central bank that's going to print, print, print, leading to a higher inflation and a debased currency it's a bad idea. >> so you're not in favor of the fed's independence >> no, i'm very much in favor of the fed's independence if you don't have it - >> i see >> but can i just say, if you know larry kudlow, and you know his supply side background >> and we do >> yes,io do i think the context here is the way larry views this economy right now is it's kind of like the 1990s where you had this sort of beginning of

and china just over the last couple of days? we heard the president's exasperation that those agricultural purchases hadn't started. that was a week or so ago. now it looks like we're getting a little bit more traction back? >> reporter: the president did say that phone calls between the u.s. and china were going well, that they had even happened perhaps a little earlier, and yoal heard secretary wilbur ross say that the administration would be considering exemptions for products that did not have national security concerns those might be allowed to be part of the supply chain to huawei, so, again, there is this idea that perhaps the administration's executive order might have been written too broadly and so companies want to ensure that they aren't prevented from doing what they see as legitimate business. >> thank you so much rkts ylan mui at the white house. >> here's what's else is coming up on "the exchange. >>> here's what's ahead, a fed rate cut is pointless, that's what one economist and professor says why? she'll make h

and the rest of asia >> we remember china the united states was china decades or centuries ago >> you bet >> we were -- the united states in the late 1800s was the low-cost manufacturer. we took jobs from the uk. >> right >> because we had child labor in 1908 and seven-day workweeks. so we -- china is having that evolution that we had, are they not? >> they are. one of the companies i report on, apparel industry, hagar. they make slacks i asked their supply chain manager, are you leaving china no, they're extremely auto mated and child labor compliance is better there than some of the countries we may deal with >> once they get that scandal, then we come calling and then they go back >> vijay, appreciate your time >>> philip morris and altria teaming up to take on the likes of juul as traditional cigarette sales drop alieniticco's push for a hethr cone alternative, next here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camer

cook said we're going to fix china. what he meant is we're lowering prices we see that next with the 10r here it's really popular everywhere the real question for apple is can they convert all those iphone owners into services customers and can they do it without compromising the user experience or the phone and not turning it into basically a series of ads for other apple services you have to pay for >> do you think they can you asked the question give me your answer? >> that's a hard road for them right now, if you look at the apple ecosystem. you have an iphone, it's great, ipods, that's great. it's likely you're going to buy another apple. but can they preserve that and not push you into apple music, not push you into apple tv, not have basically cut off experiences with that kind of premium model everywhere and annoy the customers into maybe looking elsewhere. i think it's really hard you're already seeing it a little bit can they manage that balance >> josh, let me get your thoughts on that the ecosystem,ilities a

at a time when we're in this back and forth with china >> yeah. i'm not minimizing i think tariffs are really important. i'm just interested to see how it all sort of plays out i think analysts would probably quickly remind you that last year apple and others did successfully argue their case when the u.s. tr ultimately did decide to remove different devices that would have hit the apple watch and air pods so they can make their case pretty compellingly when they have to we'll see when ahappens. >> and if they have to raise a price on a $6,000 pro, i don't think the price was the point anyway if you've ever thought about enjoying cheeze-its with wine, there is a pairing for that. cheeze-it maker kellogg has rolled out this partnership with house wine to sell house wine and cheeze-it in the same box. the sensation went on sale last night at 5:00 p.m. and sold out almost immediately this is a way of making cheeze-its in our house cheeze-its are always hot but making the cheeze-it hot again we just talked about beyond meat is worth more than all of t

are a lopez t of positives the people pointing at negatives are talking about reduced growth rates in china, from 8% to 6%. that is not the same thing as negative growth rate we're doing all this and i'm sorry to be so enthusiastic, we're doing all of this in the face of a very strong dollar that's actually depressing earnings from what they actually would be in local currency we've just got a very good earnings outlook. >> the reason i think this is so fascinating, we're talking about this now being the backdrop. we've already gotten the economic data for the month, largely better than expected the earnings data is coming in i hate to use the term better than expected there, it's a little different, but it's not the negative, you know, the numbers that we thought we might see, so yet, we're talking about a fed that's going to cut interest rates next week is there really an emergency that they need to respond to out there? >> that's a great question because the truth is the fundamentals don't seem to really call for a rate cut, and what's really happening is that the fed is letting the mark

and china. from where you sit, is this something that looks like a done deal,it will be in the rearvie mirror it's kind of a clearer investing path ahead or not? >> i would never say that it's a done deal. it's not a done deal until they ink a deal they made progress i think we avoided the worst-case outcome, which is what the market when it gets crabby, back in december and may, where the market tends to go to. we'll get worst-case outcome on policy and oh, this will push us into a recession, and we don't see signals of recession and we don't expect worst-case outcomes weigh voided the disaster scenario and this was a net positive for the market. and i think we saw that going into the weekend no, this is a good result. >> interestingly enough, jeff, this is as we mark what is officially the longest expansion in history, at least going back to the 1850s when we started measuring business cycles. this, interestingly enough, truce with china puts pressure on the fed, doesn't it that's how we have

the chicago pmi dropping further into contraction china's factor activity fell for the third straight month negotiations this week were, quote, constructive, and the stocks will continue let's drill down in the markets. bob, to try to make sense of this all, what is the landscape as you see it. >> they're spinning forward, august, which is historically is not a great month. what's it look like for august >> let me show you july, but not bad, not a lot of outstanding movers but again not a lout of outliers s most of the rest of the market is right in the middle, up 1% to 3%, including consumers staples, reits, and the positives are u.s. economic data remains strong for the most part rates are low, and there is an assumption that the central bank backstop is going to continue, but there's negatives as well. earnings growth is flat, just slightly up for the year, but the market is up 20% stocks are pretty pricey right now. clarity on global growth, still very elusive unfortunately, kelly, history is not on the side of markets in august it's the worst month for the dow and s&p since going

. >>> coming up, not even a trade war with china can derail the tech sector. three predictions for tech are coming up. >>> but first should pbr change eyreovme to pabst blue roast th a ming into calf nated beverages. that's coming up in "rapid that's coming up in "rapid fire." improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trprevagen hn to improve short-term memory. prevagen. healthier brain. better life. >>> welcome back to "the exchange." here are some of the movers this hour the banks are climbing today after that jobs report said interest rates higher. jp morgan, bank of america and citigroup are among those on the move meantime, canopy growth is falling on a report that chief executive bruce linton's departure from the company followed tension with co-ceo bill newlands. those shares down about 1.5% today. and hitting metal prices and this coming as report out of china said authorities are concerned over iron ore's recent increase now to sue herera for a cnbc update >> hello, everyone here's what's happening

china has radically reduced the tariffs that luxury companies have to pay to sell in china tiffany has 35 stores in china. >> how are they doing. >> okay in china the problem there is the brand recognition and status is no what it is at lvmh and some other companies. the problem they're having that china slapped a tariff on tiffany but not the other luxury goods dealers like from europe, jewelers, et cetera, because it's a u.s./china thing. >> i wonder why i was going to say. >> it's not a broader china tourism -- >> no. >> now it's about selling in china where they have a good store network but hurt by tariffs. 25% on tiffany jewelry in china. >> the chinese have cracked down on the market that the personal shoppers they employ if you're rich and this china you send this personal shop story london to dubai and paris to buy all these expensive goods like a gucci watch and hermes jacket and bring them back into china but the government didn't like that model so they've been cracking down on that market they're trying to incentivize the chinese shopper to buy those products inside the co

president trump firing away at china. the fed and europe once again taking some of the steam out of the market rally his comments and what they could mean for jay powell's next move. >> and the devil's in the details. big banks may be beating estimates, but some are saying that the beats are not quality the quality is strained. that's why we're not seeing a big time rally we will take a look. plus, putting its best foot forward. why saks is betting big that man will want to spend money on their next pair of shoes however, we begin with breaking news from fed chair jay powell steve liesman has the headlines. steve. >> thanks, joe fed chairman jay powell speaking in paris at this hour, says uncertainties around trade and global growth have increased he said the u.s. debt ceiling and the problem with the resolution of brexit remain unresolved he used a word he has used quite a bit. the fed will act as appropriate to sustain the u.s. economic expansion. he points out many participants at the june meeting judge the case easier

/china trade war loser. not only did it talk about the tariff-related cost but tariffs are also, they say, pushing the economy in china to weaken even further. so that's hurting demand for a lot of their products. this is one of those companies that is taking a proactive approach to move some production out of china they're diversifying moving production to malaysia by the end of 2019. but here's the catch moving production is expensive and they say expect prices to go up >> and prices to me is the key here i wonder to what extent it is an excuse their new model of the roomba is $1,100 >> but in a way. >> that is a lot >> and big innovation is they squared the top so that it can now do corners how long did it take for them to figure that out? >> there it is on our big screen back there as well >> if you're paying anywhere from 700 to a thousand plus dollars for an autonomous vacuum cleaner, you are not likely going to be as price sensitive to an increase because of tariff-related issues or anything else. >>

our sign of goodll was lightening up on l where's the move from china? >> one of the signs of goodwill is to actually get people in the room and talk to each other, and they haven't done that either. i hope peter's right that we actually get bob to beijing to get the talks going again. but the fact is they still haven't done anything from before truth is huawei hasn't sold anything yet either from that agreement. so we're in the talking period in between but there's a trade deal on the table. it's been on the table since february it can happen any time we want it to happen >> it's just going to sit on the table and sit and sit. >> yeah. this issue is just too delicious to let it go in terms of a political issue. so you can have little tugs back and forth, but china has a headline item won't go away until the next election. >> would you both agree that the only pressure points from the market right now is if tariffs are expanded on the remaining 2, $30 billion worth of goods but that if it comes back into the picture would seem to be a negative >> yeah. i

you don't need an outright china deal to make people happy. the market seems happy as long as we have news the talks are continuing andrew, back to you. >> bob, thank you for that with stocks at record highs the expansion faces a moment of truth. consequential of the summer, busiest week of earnings, feds making an interest rate decision, happening wednesday, jobs report friday, and mnuchin heading to china for more talks. janet yellen is advocating for a rate cut. >> also, the u.s. is doing well. i would be focused on wanting to keep it doing well to keep the expansion on track and i think in light of the risks, i would be inclined to cut a bit. i wouldn't see this as the beginning unless things change of a major easing cycle. >> and joining us right now is fred kemp, ceo of the atlantic council, jason brady, ceo of thorn burg investment management i'm going to you steve liesman, is she giving cover for powell does she believe we need a rate cut? >> if you're arguing institutional allegiance in the words of the former fed chair, i would not d

the news flow lately has not been great even the last couple of days the president saying china is not making these purchases yet they've put someone more hawkish on the china side in charge of these negotiations are you saying that's part of a response here? >> very much part of the response and the problem is, the other thing we don't know and can't figure out, does this administration think it would be better to take this all the way to the election cycle or have this in the rear-view mirror, this fight with china? no one knows the answer to that. until we do and we don't know how elongated this is going to be, we'll have easier monetary policy >> thank you all appreciate it very much. art and jim, we'll see you for reaction in just a moment. >>> before we get to that, nfl commissioner roger goodell will join us live to talk about whether the nfl is poised to strike some mega new deals with the streaming giants as the battle for content heats up. looking forward to that. >>> plus -- >> coming up, a white house venting session. france taxes u.s. tech and hearings on the hill what's t

china fx reserves are higher on the topic of central banks, let's get down to bob pisani >> reporter: kelly, this is the second down day and there is weakness in technology sides apple is downgraded from rosenbla rosenblatt the key for the markets is jay powell's testimony this week there's a dilemma. the market wants rate cuts but it's not clear there's an urgent need for them. the labor market is strong, we saw that on friday inflation is low and there's a record economic expansion. that is certainly a victory for the fed. other central banks are dovish also a victory for the fed and a recession still seems unlikely the big risks remain trade and europe and china's slower growth that's one reason morgan stanley downgraded global equities this morning, saying earnings estimates are just too high right now. it's true, earnings are expected to be flat-ish this year you see the four quarters for this year. morgan stanley expects more companies to warm for the second half of the year kelly, we'll see about that. earnings begin on tuesday with jpmorgan >> bob, we haven't focused on that a

generally, the consumer business in china seems to be okay. but old industrial businesses, including a particularly automobiles, are definitely not. and kelly, it's, you know, we're seeing growth all across europe as well as slowing down as well. on top of that it's a very, very tough, complicated picture. the important thing is the big decline in the second half guidance that people were afraid of has not happened at all and i think that's a real positive and why we're holding up so well right now. back to you. >> bob, thank you. the complicated picture dripped up mario draghi today talking about whether the ecb would be easing more or not it's not just europe growth concerns are causing central banks all over the world to ease policy lately. seema mody joins me with a look at all these moves ahead of the fed's meeting next week. >> the imf cut its global growth forecast four times already this year so it's lower growth plus a subdued inflation environment that's pushed a number of central banks around the world to cut rates since april a num

. >> particularly given the new threats that we are seeing today, from iran, to china, russia, and beyond. i mean would you say these are some of the most significant threats the country has ever faced. >> maybe not ever, but certainly very significant, the iranians are acting out as they have since 1979 various destructive ways across middle east we immediate responses to actions directly or surrogates as president directed i think he is doing the right thing. >> where specifically would you see opportunities to cut back not of including defense obviously. >> it is hard to do that with this particular house. they mefr metnever met a spendig

you know they need to be in china because that's where all the growth is coming from but also that's where all the technology is coming from so. they need to be forging these alliances and they can't really afford to cut out the chinese chinese firms

and i don't sth see him meeting president xi of china and meeting successfully with kim jung un. i don't see him dealing, and nobody has been tougher with russia than donald trump. i don't see him dealing with putin.ir

good for the country, but your reporters is exactly right most folks get what is happening get that china has been abusing us, for a very long time, they get that mexico is playing field is very unlevel they support the president trying to right the playing field right now this is out of the president's hands. passed it off to congress in nancy pelosi in speaker pelosi's hands should bring it to the floor immediately so we can get after it, and give folks relief, they just want

22nd anniversary of the hand-over of hong kong from the united kingdom to the people's republic of china. their main objection: a bill that would allow for suspected criminals to be extradited to mainland china. a separate, more aggressive group smashed windows of the legislative council, known as legco, and briefly occupied it. last night, our foreign affairs correspondent nick schifrin reported from inside the building and interviewed one of the occupiers. today, nick spoke with a

. >> tambiÉn medicina tradicional china el hÍgado el Órgano de las emociones en donde se guarda la ira el rencor tener un hÍgado sano nos pueden ayudar las hojas verdes y vegetales. >> ahora dices que hay alimentos que te ayudan en el humor en el sentido de cÓmo nos sentimos en el trabajo o la pareja >>> bueno, primero tambiÉn otros alimentos que son las frutas que tienen muchÍsimo antioxidantes el magnesio mÁs deseos mas motivaciÓn y otros alimentos que sÍ es cierto otros hÁbitos que podemos adquirir no solamente a travÉs de la alimentaciÓn si no por ejemplo la exposiciÓn solar no tambiÉn nos ayuda a a producir mÁs la respiraciÓn tambiÉn nos mantiene en el presente tambiÉn es un alimento que nos ayuda a calmar nuestra ansiedad y el estrÉs y esto nos ayudarÁ a sentirnos mas nutridos tener esa tranquilidad y ese saber de estar con uno mismo alimenta son alimentos que no comemos con cuchillo y tenedor pero tambiÉn. que nos recomienda a los que de pronto estamos en el trabajo nos estresamos alguien de mi casa nos habla tenemos preocupaciÓn y lo primero que pensamos es

estado de erupciÓn casi constante de 1932 al menos 6 muertos y mÁs de 190 heridos dejÓ un tornado en china, las autoridades evalÚan los daÑos sobre todo en Áreas residenciales de las que han sido rescatadas hasta el momento mÁs de 200 personas. >> miembros de la guardia nacional de mÉxico se presentaron en suchiate al suroeste de chiapas que limita con guatemala y ayudaron a los agentes fronterizos en este lugar a documentar a los extranjeros, un comandante explicÓ que los soldados no inter fero rana en el comercio de ambos paÍses. durante esta jornada docenas de personas fueron trasladadas en camionetas. >> se cumple el 4 dÍa de la huelga de hambre que mantienen prisioneros en el condado de california, quieren denunciar las condiciones de vida que hay en este centro con celdas sin agua, sin luces y llena de cucarachas esto serÍa la causa de varios intento de suicidio de algunos reclusos. >> por eso llega la gente a ese punto que las cosas tienen que estar suficientemente mal como para que un ser humano, sienta que la Única salida es quitÁndose la vida. >> no nos deten daremos y

. >> china y estados unidos retomaron las negociaciones en un n intento por l a un acuerdo, shangai fue el escenario de la primera ronda de discusiones desde mayo, cuando al no llegar a un acuerdo, washington anunciÓ aumento de 10 a 25% de los aranceles a productos chinos. y esto es posible gracias a que hace un mes el presidente trump y su homÓlogo acordaron una tregua comercial. >> seÑores vamos con historias que tiene rashel con nuestro siguiente invitado de la maÑana, rashel. >> paulina lo decÍas muy bien, aquÍ siempre en "un nuevo dia" les mostramos historias, y nuestro prÓximo invitado se encontrÓ sin un centavo en el bolsillo, sin embargo, Él fue por sus sueÑos y tiene una excelente historia que a usted lo va a motivar, vamos a conocerlo. >> soy chris y tengo 29 aÑos, estaba estudiando en la universidad y decidÍ intentar varias cosas, estuve en red de mercadeo, hice venta de seguros y terminÉ viviendo con una deuda de casi 100.000 dÓlares, entonces descubro el mercado de... en un nivel mÁs bajo. >> si quieres llegar mÁs rapido al Éxito, fracasa mÁs rapido porque

tenemos el ejemplo si vamos al restaurante de comida china que le pueden gustar a los niÑos >> lo importante es siempre tener comida balanceada. >> aquÍ tenemos ensalada con adhereso de jenjibre que es por popular a veces les gusta mÁs con jenjibre tal vez simplemente aceite de oliva. >> a veces no le gusta, es un poquito dulce, tenemos el pollo una porciÓn de arroz serÍa much para los niÑos pequeÑos pero compartir con los papÁs por aca estos de pollo que vienen con lechuga ahÍ estÁn comiendo vegetales se les pone pollo y es comida saludable. por otro lado. >> cuando viene entera viene hasta divertido comerlo porque le gusta quitar el frijol de adentro del empate puede ser hasta un juego divertido >> pueden hacer competencia quiÉn se los come mÁs rapido y montar los paquetes despuÉs es superdivertido >>> hacer una dinÁmica >> si un niÑo mÁs aventurero y quiere probar un roll >>> yo creo >>> en comida mexicana de pronto estÁ frita y cuesta tener grasa, entonces hay otras opciones. lo que se puede compartir en la familia >>> pedir algo que sean porciones grandes que todo el mun

mil toneladas y tiene 495 metros de largo y 39,7 metros de ancho completÓ la rotacion en el norte de china, marcÓ el rÉcord mundial en tÉrminos de peso y longitud del puente. >> wow! >> esto es pura tecnologÍa. >> impresionante. >> tÚ sabes que a mÍ a veces me dan cosas los chinos hacen cosas maravillosas, pero tambiÉn me da miedo porque tambiÉn se oyen tantas cosas raras de los defectos que tienen, que no sÉ si quisiera parar por ahÍ y saber cÓmo funciona. >> ahora se ve espectacular. >> espectacular, maravilloso. >> no te digo que no estÁ facil, pero bueno vamos a una pausa, pero antes les avisamos quÉ viene no: >> desde hawÁi, entrevistamos a dwayne johnson de la pelÍcula donde el superactor nos cuenta quÉ necesita un heroe para salvar al mundo y. >> y ahora pasamos con erika que estÁ en un delicioso lugar, trÁeme algo de ahÍ erika. >> asÍ mismo querida hada, me encuentro en una legheladerÍa de vamos a aprender a hacer una cocada, y tambiÉn la deco lagos de helados exquisitos, esto va a ser mÁs la aquÍ en "un nuevo dÍa", ya regresamo me va mucho mejor cuando me

. >> este me pone la piel china >>> nos vamos a la reina del sur >>> teresa mendoza le admite al zurdo que lo traicionÓ y que intenta matarla y la salvada que le dio pues es el hÉroe prÁcticamente de todo esto que se realizÓ anoche que estuvo. >> pagÓ un precio >>> pero bueno, alejandro ordena matar a teresa mendoza como lo oye, apenas aterrice para recoger a sofÍa >>> alentado por francesco huye una vez mÁs para salvar su vida lo que pasarÁ esta noche se pondrÁ mas intenso y cardiaco que nunca. 4 esta noche las cosas no van a cambiar para sofÍa hace que el peligro y la muerte la acecha y eso no se lo puede perder ¿quieres un adelanto? >>> adelante >>> ( ♪ mÚsica ♪ ) >>> (mÚsica de suspenso) >>> no!. >> (aplausos). >> ay! ay! nos quedamos helados con esa escena. >> no se pueden perder la programaciÓn de nuestra cadena telemundo porque estarÁ buenÍsimo comenzando con un con poquito tuyo >>> seguido en betty new york. terminando y cerrando con broche de oro con la reina del sur que estÁn buenÍsima >>> no salga de su casa seÑora >>> seÑor tampoco. >> (aplausos). >>

delegation heading to china to get stalled trade talks moving again. the u.s. wants to have an enforceable agreement that protects intellectual property, opens market access and stops the forced transfer of technology through forced partnerships with chinese companies. we'll see what happens. here's the letter. edward lawrence got it and that's what it says. it's an open letter to everybody. >>> dow is down 174. tesla can only be partly to blame with the trade war with china for what's happening to its shares at this hour. $6.4 billion in market value being wiped off the stock as a slew of bad news slams it. we are down 13.75% right now and here's what happened. first, second quarter results came out yesterday after the bell, the electric car maker's reported wider than expected loss and shrinking margins started the downslide. then elon musk kicked the bulls by warning it would emphasize expanding production capacity and model lineup over profits. in essence, that pushes the profitability timeline to q4 now, prompting wall street analysts to send out a flurry

. >>> calling up china. trade negotiations have officially restarted in shanghai but here at home, president trump warning china's leader that trying to wait out a second trump term win in the hopes maybe of getting a better deal from one of his 2020 rivals, will be quote, a big mistake. those same rivals taping up their gloves as they prepare to enter the debate ring for another two-night matchup, from trade to the economy to medicare for all, it's a steel cage death match that's putting dem versus dem so let's bring in democratic adviser and fund-raising guru robert wolf. he is here on who stands the best chance of a tko against both the democratic pack and president trump. >>> capital one facing its own alarming battle. we are still keeping the stock up on the bug here, down 7.33%, blistering from the blows of this massive hack. we've got new details on the unlikely actor behind the data breach of 100 million customers and just how deep the bruising may go for one of the country's top ten financial behemo

and china right now. you've got the president's cabinet meeting earlier and just a quick mention, google's stock is holding on to gains. reporter: it is not the only mention with china, you're right. if there were any questions about all those good feelings that were emanating from that meeting between president trump and president xi at the g20 in japan just a few weeks ago, today was a good reminder that that meeting is now in the rear view mirror, because before his cabinet earlier today here at the white house, president trump reminded that he has the ability to go forward with the biggest batch of tariffs to date against china. it was this comment right here that caught the attention of the markets. listen. >> we have a long way to go as far as tariffs with china is concerned, if we want. we have another $325 billion that we can put a tariff on if we want. so we're talking to china about a deal, but i wish they didn't break the deal that we had. we had a deal where china opened up. reporter: that was

and also in china. but let's get to t-mobile and sprint both stocks hitting new highs on the news, finally, the doj, the department of justice, has approved their proposed merger. let's bring in a man whose been giving you play for the past 15 months or so, charlie. and we're finally here and one of the first regulators to sign on to the deal is brendan car. charlie: our long national nightmare is over brendan. you know, i had one question and i'll kick it over to you, susan, just from a sort of procedural thing, brendan. does the fcc have to reexamine this thing and sign off on it from this point on? >> right today the doj announced they're clearing the transaction from their perspective, that builds on our announcement that the sec, that we're also in favor of the transaction and now it will come back to the fcc for a final vote. the entire package of the transaction and really today is a goodwin for the u.s. , in terms of our leadership in 5g, you know 5g has been a top priority for me at the fcc but

deep cyclicals need china. industrial cyclicals you need to hold back. we need a china deal. i don't see that coming anytime soon. liz: erin, i have a question, i don't know any of us will know, if we did have a signed, sealed, delivered deal with china, would that cut it today? >> no, i don't think so. i think is really about, we keep talking about much more global economy, the slow down is about what is happening outside of the u.s., not inside of the u.s. because china has been hurt with the trade wars. so i think without these trade tariffs, that they wouldn't have had that data, that catalyst to cut rates today. liz: in fact the quote that jumped out during the q&a, the statement where he said, we see weakening global growth, and then he said specifically, michael, he said specifically the european union and china. so would you avoid those areas right now? >> we remain underweight to equities outside of the night. we think that economic growth continues to struggle, be sluggish there. you continue to see some geopolitical risks, whether it be on political turmoil within

he says quote, he's taking a strong look at it but no mention of the stalled trade talks with china or the slowing global economy. those issues remain among the top reasons for the federal reserve's recent dovishness. should they or shouldn't they cut rates two weeks from today and by how much? federal reserve vice chair richard clarida is here in a fox business exclusive. we will ask him all the important questions that could definitely move the markets. >>> plus, senator bernie sanders rolls out his $40 trillion plan to fix health care but senator lamar alexander, the republican chairman of senate health committee thinks he might have a better idea but is ready to work with both sides. he is here in a fox business exclusive. >>> and forget the wolf of wall street. a 2020 candidate is hunting wall street vampires. senator liz warren teaming up with senator tammy baldwin for the stop wall street looting act. dow is down about 25. oil is slipping in the aftermarket session. and netflix, all day long, is getting throttled. less than an hour to the closing bell, live from washington, d.c.

he also said we are dealing with china, we are enjoying a strong economy while china has just reported the weakest gdp growth since 1992. he said our farmers are doing very well. that's a quote. and he said that there's some other issues that look pretty good for the economy, but we want to tell you we did see that the chinese last week started buying u.s.-grown sorghum, a gluten free grain again, but farmers told us here at fox business that the chinese are nowhere near purchasing what they had been before the trade war. you can see some of the commodities like grain, soybeans, corn, oat, wheats, are on the move at the moment. let's bring in two strategists. brad blakeman, former senior staffer to president george w. bush and chris hahn, former aide to new york senator chuck schumer. to the point he specifically said the farmers are doing well, are you sure about that? because we have been speaking to farmers who are now a hundred, 200 grand in the hole at the moment. they are still supporting him but wouldn't exactly characterize that they are doing well at the moment. >> they are do

/china trade talks in shanghai. more than 16 months into the trade war, between the two world's largest economies, we have a far-reaching global impact. the trade dispute has put the hurt on both sides of the pacific. china markets will open tonight at 9:30 p.m. eastern time, but this morning, they closed mostly lower, despite the cautious optimism ahead of the renewed negotiations, possibly because president trump tempered chances of a breakthrough by saying on friday afternoon that china may hold out until after the 2020 presidential elections before agreeing to a deal. to blake burman in d.c. blake, some think the president needs to deliver a trade deal with china before the elections in a way that soothes his base, some of whom are suffering due to the tariffs. reporter: there's the political equation of the president potentially needing a trade deal before the election, but president trump made it seem on friday that might not be the case, and that's why there's not very many expectations or at least a part of

china has an internet wall. apple has managed to get in but given the trade situation that's so uncomfortable, a lot of american companies are losing our ability to do business with china. it's hurting a ton of companies. liz: he's got this founders fund. he is a very powerful guy in the valley. airbnb, lyft, spacex, postmates, he's getting involved in a clothing company in asia. while onstage at this conference he got really specific and said, you know, google's super secret artificial intelligence business called deep mind, it's a project, has been infiltrated by chinese spies. how much do people listen to peter thiel in the valley? what kind of power does he have? >> he's very important. obviously he goes against the grain on a lot of issues and that's made him a successful investor. he went against the grain on most tech people and supported president trump. he definitely has the ear of the trump administration. they listen to him. so he's important but we have to look at the facts here. the facts are there'

the administration would like to have a deal with china, says that china would like to have a deal with the united states. now, china has hardened its tone as of late. the newest member of the trade team for the chinese is the chinese commerce minister, and he says china must stand firm in defending their interests. so far, members of the u.s. trade team have deflected questions about how the talks are going. >> let robert lighthizer work his magic behind closed doors with the chinese. we're in a quiet period. that's all we should be talking about. let's focus on the usmca, getting that passed, but let's focus on the fed lowering interest rates, starting this july and guess what, if we do that, we'll cruise past 30,000 on the dow and keep this prosperity cycle going. that's where we're focused. reporter: white house economic adviser peter navarro would not say when the next face-to-face talks will happen. liz: we all may be working late thursday night a week from tomorrow. thank you, edward. from chaos on the hill to a new battle about to be sparked in the streaming wars. in just under

president says china will make these big buys. they are all over the place. have those big china buys come through yet? are you feeling any of that? >> well, not really. like you said in the numbers, nine million metric tons to date, they promised 20 million metric tons and we look at our cycle, u.s. soybean selling cycle for the world really ends here in about a month. the south american market really kicks up when they enter their harvest so china will look to buy the most reasonable priced soybeans. right now we are a great value but if they don't buy that extra 11 million metric tons pretty soon, they are going to go to south america, purchase those soybeans first, which then delays that purchase into fall, into our harvest season, then that stockpile of soybeans gets larger. liz: quick question as we finish up here. the $16 billion compensation fund, listen, let's call it what it is, a bailout, are you feeling that? is that helpful or would you rather have, as they say, we want trade, not aid? >> definitely trade, not aid. th

it is china that caterpillar cited along with higher production and restructuring costs that could deal with tariffs of course but we can't ignore boeing. boeing and caterpillar are shav ing off more than 100 points from the dow which is down just 102 but the s&p is shaking all of that off it is very close to a record right now. in fact it is a record, am i correct now? we just need to see a gain of 8.8, so 8 points and 8/10 of another point to close at a record, the nasdac is hitting an intra-day high and on pace for a record close that would be the ninth of 2019 so the number to watch for the nasdac is 8258 we're at 8,304 i call that kind of a wide margin there so we're pretty much there at the moment. catapulting the nasdac today, the chipmakers, particularly, texas instruments which is the top gainer on the semiconductor index and it hit a record high and its got all of the biggest names in the basket, so you get a sense right here how well these are all doing we're up 3% from the phlx stocks, and the chipmaker hinted a global slow down in microchip demand would not be as long or ex

ban on china's huawei, that telecom company that buys a lot of product from our companies. but we also hear chatter of a budget deal that could be announced as early as tonight. blake, is that what we're hearing? tonight? reporter: potentially. as they say in washington, they are working towards the finish line on that one, liz. you know, steve mnuchin has been handling that. he's been working with nancy pelosi, chuck schumer to try to hammer out a budget deal that would, at least we're hearing right now, extend the debt ceiling another two years. but also, lift the caps, lift the spending caps as well for another two years. for republicans, that would mean more defense spending but for democrats, that would also mean more domestic spending. the president just a little while ago when he met with the prime minister of pakistan, touted the defense numbers and the defense increases that would come along with it. watch. >> talking about we're having very good talks with the speaker of the house, with nancy pelosi, we're having very good talks with chuck schumer. if you look at

this may be russia or north korea or iran or china trying to manipulate me as a u.s. citizen. and i think that's really important. the other reason it's really important is, before the mueller report came out, the attorney general came out with a memorandum, which it would be overly kind to call it spin. this attorney general basically came out and said a bunch of things that were not in the report. so much so that bob mueller had to contradict him. i think it's important to revisit that and say, here's what this report really said and didn't say. because it didn't say that the president was exonerated of obstruction of justice. very much the contrary. and people need to understand that from the guy who actually investigated and wrote the report. >> earlier today, the house speaker nancy pelosi tried to quash this growing dispute with some of the freshman democrats, including congressman ocasio-cortez, who accused nancy pelosi of singling out the newly elected women of color. her words. why has this become so contentious? >> i kind of wish this was not the language that my col

china would come down on them very, very hard. for now they're getting a bit of a pass from the chinese because they're engaged in dialogue. >> while the president shows patience with north korea others are not. u.n. sanctions are going to stay in place until kim jong-un fulfills his commitment to completely denuclearize, and that same official said the joint military exercises with the u.s. and south korea are not about to cancel, saying they're purely defensive in nature. wolf. >> brian todd, thank you. >>> coming up, the house of representatives prepares to vote on a democratic resolution condemning the president's racist comments about the congresswomen, but the president is renewing his attacks. back then, we checked our smartphones ...zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours... eyes today are stressed! but ocuvite has vital nutrients... ...that help protect them. ocuvite. eye nutrition for today.

in countries like russia china turkey people are told it's that simple and if you're a journalist of the year and you try to get beyond that you are facing scare tactics intimidation and i wonder is that where work headed is well. my responsibility as a journalist is to get beyond the smoke and mirrors it's not just about me dear friend balance or being neutral it's about being true. 20 years worth of golf and i work in detail. on it burning the global tourist guide from truman easy to me capital i love berlin the scope of the multicultural metropolis in a word you're a mix series to finance the kind of venice night lights are something new i love featuring once shown once again sits and looks like a setup this way it's like me described as 50 nations or 50 stories. and 50 very personal tips on berlin's very best in terms. of. food no punishment everyone on t.w. . never has it been the stock.

the south china sea. we see a tremendous buildup and blue water navy capabilities. we see a determined form of their economic policy internationally and particularly the way they have abused their position in the wto. the u.s. is committed to securing fair and reciprocal terms in our trade practices and that will require china to be more transparent. it is on that point that the president has particularly confronted china. he is doing it on the basis of an insight that no one would dispute that ultimately national , political, and military power and its projection around the world rests on a strong economy. when one country is abusing the rules of the international trading system and particularly taking advantage of the u.s., that must stop. you see through the use of tariffs that the administration is willing to use all available tools to help level the playing field. the trade negotiations that followed the imposition of tariffs have concentrated on what we call structural issues. massive, persistent th

hong kong is unique for china. we are the only financial centre of the whole of china. shanghai cannot replace hong kong as a financial centre, at least not in the near future. in order to serve this very unique status, it requires freedom of information, freedom of assembly, freedom of movement, and of course, most importantly, we need the rule of law. so if china is not prepared to lose hong kong and make it any other ordinary city of china, then these four essential elements have to be protected and preserved. and so i believe that it will not serve beijing's interests losing hong kong, and especially losing this very, very unique status. alvin yeung, leader of the civic party, member of the legislative council of hong kong, thank you very much for being with us on hardtalk. thank you. hello. in the last couple of days, some of the showers that we've seen breaking out across the uk have been nothing short of vicious, leading to disruption to transport and localised flooding. in the next few days, not an entirely dry story, but far fewer showers, and they should also

foreign growth has disappointed particularly manufacturing and notably in the euro area and china. in response to the weakness any pigs around the world are increasing policy accommodation are contemplating doing so. after simmering early in the year, trade policy tension nearly boiled over in may and june but now appear to return to a simmer. look into this variability, or business context tell us the ongoing uncertainty is making some companies were cautious about the capital spending. the domestic inflation shortfall has continued. core inflation which excludes food and energy prices and a better gauge of future developments and total inflation has run at 1.6% over the past 12 months. we continue to expect the inflation will return over time into percent. but domestic completion of pressures remain muted and goebel disinflation pressures persist. wages are rising another the pace that would put much pressure on inflation. we are mindful that inflations returned to 2% before they are delayed and continued below target inflation could lead to worrisome and difficult to reverse dow

does china have a specific role in shutting down the internet there, as we heard in different reports, and if so, what kind of control who they have over that infrastructure, specifically the internet or other analogous infrastructure in the country? amb. vecchio: the information that we have is that they have been providing technical support to the maduro regime in order to control and how to cut the access to the internet. and also how you can get more information electronically. so basically they are giving that support to the maduro regime. >> hello. so, as the open border policy reaches one million-plus migrants to columbia, do you see a tipping point? amb. vecchio: that's the warning i'm saying right now. we need to stop that now. as i said, today was 1.5 million, but that could increase up to 2 million or more next year. that would create instability inside of columbia -- colombia. that's why i'm saying this is a threat against the region and we need to stop it. in my view, the region is not prepared for this. it is not prepared for this. that situation will drain instability i

is stuck in its position of changing china's economy. china wants tariffs removed. it is hard to imagine where either side is going to budge. they can't seem to agree whether china has agreed to buy more u.s. agricultural goods. u.s. seems to think that they have and china seems to be more of a background issue for them. much for theyou so latest on trade. still ahead, joe biden takes the debate stage along with nine other presidential hopefuls for another night of debates. we will go live to detroit. next, the u.s. stocks fell the most in six months as jay powell dented hopes of more easing to come. this is bloomberg. bloomberg. ♪ paul: this is "bloomberg daybreak: asia." i am paul allen in sydney. shery: returning to the latest u.s. market action, qualcomm and fitbit are tumbling. in the regular session, apple was a bright spot and ge got mixed reception. sue has more on this. it was a roller coaster ride not only because of the fed, but because you got so many results. the results are all over the map and you have the fed throwing cool water on any rally you ha