More precious than faang, the one surprising investment thats making some more money than all the top tech names that you know its thursday, august 29th and Worldwide Exchange begins right now. If the black keys cant get you going, i cant help you friends. Good morning, good afternoon, good evening, where where ever in the world youre watching look at this, dow futures are soaring up 209 points right now. They were not like this a couple of hours ago futures made a dramatic move around 3 00 a. M. New york time this morning, look at that boom, were muddling along down a couple of points this is at the same time that the Chinese Commerce minister, china opposes any more escalation of a trade war. They hope the United States will show sincerity and concrete action adding both trade teams have been in touch and are working to create conditions for what they call successful negotiation. Futures were up 209 right now. The bond market is not moving as much on the headlines. Yield still low, and 30 year still under 2 and we are, my friends, still inverted by one basis point. We saw the hang seng rise fractionally and in europe because theres a lot going on politically in the u. K well make big moves as well perhaps they will also come up with our futures lets move on. Outside of stocks. Heres a look at commodities and inventories have come down and crude oil up again to 5608 gold which we have an interesting stat on coming up in the show, and bitcoin, by the way, the crypto currency down 3 which is just 300 bucks back below. We have really seen this inverse relationship between equities and sort of the cryptos if you will whenever theres volatility out there, bad news on the trade front, remember so much buying in bitcoin and its coming from the asian markets. When they get unsettled they buy into bitcoin but if you bought at the beginning of the year, it is trade that is driving the action this morning as we noted. Optimistic comments from Chinas Commerce Ministry as the clock ticks until the latest round of tariffs on chinese made goods takes effect at midnight i dont need to remind you, that is this weekend. It is not all just trade wall street also bracing for a stream of Central Bank Policy decisions all around the world theres a lot of them. You have the ecb, the European Central bank, theyre coming out september 12th they may go off quantitative easing who knows what the ecb will do thats followed by our own fed on september 18th. Will they cut again . Will they not . A race to the bottom in yield, possibly, just Getting Started a number of Central Banks out there are on tap over the next couple of weeks and then theres this new analysis from Data Research company taking down the outlook for u. S. Corporate profits expectations for Earnings Growth at s p 500 companiesis now jus at 2. 4 down for more than 7 at the beginning of the year. Thats the biggest drop in this period of time going out three years. President and chief Investment Officer gives. Well join you on set in one second is there any reason right now to own the biggest of the big cap stocks not when i get it were looking at the significantly diminished expected growth rates and when you look at the overall evaluations which are not particularly low and havent been coming down, theyre very much in the middle of the past three year trading range they really dont look that attractive so thats the norm but when you look at large caps versus mid and versus small, and almost inversion. Thats the word of the summer. Inversion of how were valuing our mega caps versus what we should be valuing. They did have some of the Earnings Growth for the second half of the year is challenging. Looking at the very shortterm they were going into it but now when youre looking at the next four quarters, the next four quarters are completely expected to ramp up when the s p 500 has 4 expected earning growth so five times the rate of Earnings Growth over the next 12 months. Why are they being ignored then investors have been so focused with all the mega caps and big names. Even piling all the money into their s p 500 etfs and forgetting about other different asset classes. When you look at the valuations versus growth, the valuations of the stocks. They actually appear safer. They actually appear safer particularly when you look at how much growth they have. Even when they get hit by tariffs, they have better margins. Whats an etf way to buy into small caps rather than selecting one of 2,000 or so equities. Its the s p 600 small cap, ijr. Ijr. It tracks the s p 600 really well and i refer the s p 600 as a Small Cap Index versus your russell 2000 but these are all companies that are more stable when it comes to earnings so thats representative of what this is. We mentioned the word inversion. Whether that bond inversion signals recession, lets say it does maybe it wont but lets say it does, doesnt that put small cap earnings at risk potentially but were still looking at anywhere from 12 to 22 months. The Earnings Growth that were looking at they replace the large caps and especially also when youre trading at such low valuations, to me this growth Value Proposition is so strong theyll be the ones to ramp up. By the way, personal question, what is it like to be an entrepreneur . Wealth management launching in july congratulations by the way. Youre now your own boss. What is that like . Its an emotional roller coaster. High one second and yeah. You like entrepreneurs. No, i have been told once once on a roller coaster, three times a day. So its still exciting. Congratulations on Gibbs Wealth Management thank you. Well see you soon when we come back, futures are rallying this morning up more than 200 points right now after a Chinese Government official says it opposes any further escalation of the trade war. They want a calm attitude and a nice resolution of this whole thing. Futures there up rates they are down. Were heading into break plus, as if it couldnt get any worse around the world, more uncertainty out of europe. Parliament will be suspended Boris Johnson on the attack. The opposition furious the great, the powerful, steve sedwig up on another episode of the crown coming up. And well talk to tom rogers, long time cable executive and founder of this very fine network. What an incredible lineup Worldwide Exchange rolls on right after this you should be mad at airports. Excuse me, where is gate 87 . You should be mad at nonseasoned travelers. 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And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. Welcome back its 5 12 here youre looking at a live shot of hong kong where we have news two new developments as a matter of fact. New reports that Hong Kong Police are ban a march this weekend by protestors and what will be the 13th straight week of demonstrations. That move though expected to perhaps spark more chaos in the streets given the symbolic importance of the event. It was scheduled to mark the fifth anniversary of the announcement of restrictive election rules from beijing that was eventually rejected by hong kong all of this as china sends troops into hong kong overnight. They issued a statement saying its hong kongs People Liberation army will follow central governments instructions in implementing the one country principle but just because troops are coming into hong kong doesnt mean its an escalation. The government is saying this is a regularly scheduled annual rotation of the troops remember, hong kong keeps 6 to 7,000 pla troops in hong kong at all times. They swoop those in and they say this is the annual rotation. There are doubters out there about whether or not the timing seems suspicious but the rotation last year did occur on or about the same day. So just keep that in mind when you look at the hong kong troops headlines. Now to another country with protests in the streets, the u. K. Parliament will be suspended. Prime minister Boris Johnson moving forward with his plan casting new uncertainty in brexit negotiations in europe. More on this developing story which was just a big twist and yet another episode of the crown. Its very interesting that you mention the crown. A couple of senior politicians yesterday went up to the queens summer residence and got the 90yearold plus queen to say yes, i will allow you to suspend parliament what happened anyway possibly but the length of time is unprecedented five weeks from the middle of september as well. But this is about thawrting the enemies of brexit . The Prime Minister says no, listen in. Were bringing forward a new list or program on hospitals and making sure that we have the Education Funding that we need and there will be ample time on both sides of that 17th summit the eu and brexit and all the other issues, ample time. Thats what the Prime Minister has to say. One seniors conservative politicians said the Prime Minister is acting like a petty dictator what did the Opposition Leader have to say . Perhaps this is predictable. Lets listen in. Suspending parliament is not acceptable its asmash and grab on our democracy in order to force through a no deal exit from the European Union what is he so afraid of that he needs to suspend parliament to prevent parliament discussing these matters. Is it illegal the courts wouldnt say its illegal it is it unconventionally undoubtedly. Is it unconstitutional we dont have a written constitution its about interpretation and as you can imagine theyre doing a lot of interpretation of something that they deem potentially to be unconstitutional but is not illegal according to what i heard nin the court so far. Will it be stopped or will Boris Johnson get his wish he can get this proregation unless politicians go back to the queen and say you have to take it away very quickly, will the courts look at a judicial review on the advice the queen has given maybe. Will politicians against Boris Johnson next week try to have a no confidence vote against him maybe but if they do he could announce a brexit general election after the date of brexit or can they form a care taker government against him i spoke to one senior politician that said he would potentially do anything it takes to thwart Boris Johnson. Anything it takes. Would he support Jeremy Corbyn that remains to be seen. Thats something i have been asking today. Is it likely the queen will step in or will she stay out of this kind of parliamentary politics i think hes going to stay out of this one. Unpress den it would be unprecedented to step back into this one as well. She was advised by members of the privy council, they advised the Prime Minister to go against what she has been advised would be unpress denlid. You layed t it out well thank you very much, steve. All right on deck. Guess who. The one retailer brushing off tariff concerns sending that stock higher this morning an up. The auction starts at 25 grand it has one very famous signature on it. Well tell you who, coming up. When you have nausea, heartburn, indigestion, upset stomach, diarrhea try new pepto liquicaps for fast relief and ultracoating. Nausea, heartburn, indigestion, upset stomach, diarrhea get powerful relief with new pepto bismol liquicaps. Welcome back in. We have data storage news with your stock to watch right now. First up, box, better than expected Second Quarter revenue but shares are down. Investors are disappointed after the company reiterated its earnings outlook for the year. Plus im going to tell you shares of guests, the retail brand are up sharply this morning. Second Quarter Results beating estimates. It raised its profit forecast for the year and it expects minimal impact from further tariffs between america and china as it has been able to mitigate those risks in talks with its vendors. Imagine that strong Second Quarter earnings in the kitchen the home decor retailer lifted. It fell up 1 . Stocks up 33 this year. A very goodyear for Williams Sonoma not a goodyear for other retailers. Why the small near you, they have a few more empty Stores Coming up. The end in faang down 20 . Does that drop give you the entry you need to buy it or will disney send netflix shares even lower . Tom rogers is here thats what happens in golf nothiand in life. Ily. Im very fortunate i can lean on people, and that for me is what teamwork is all about. You cant do everything yourself. You need someone to guide you and help you make those tough decisions, thats Morgan Stanley. Theyre industry leaders, but the most important thing is they want to do it the right way. Im really excited to be part of the Morgan Stanley team. Im justin rose. We are Morgan Stanley. The first survivor of alzis out there. Ase and the Alzheimers Association is going to make it happen. But we wont get there without you. Join the fight with the Alzheimers Association. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Lets get a check on this mornings top headlines including the race for the democratic race for president. Good morning, shake up in the race for the white house this morning. New york senator gillebrand is failing to qualify for the debate next month and champions rights and families on the campaign trail but failed to gain much traction she is the first senator to call it quits in the race a volcanic eruption on the island of stromboli sent people running for cover. It poured down right into the see. Its one of the worlds most active volcanoes two months ago a hiker was killed after an eruption a little over a month after releasing his chart topping number six collaboration project. Ed sheeran announced hes taking an extended break from music he broke the news to fans at the find show of his divide tour after playing 250 shows. He told the sold out crowd in england this is my last gig for probably 18 months adding i want to say thank you to everyone on the tour and see you in a few years time back to you. Thank you very much see you soon. Coming up, words matter. How a few calming words from china on the trade fight have stocks set to surge this morning, dow futures up 231. This is more than 160 Business Leaders urge the president to delay the tariffs and are set to take effect this weekend and will disney crush netflix . What former ceo and cnbc founder tom rogers tnks hiabout it all Worldwide Exchange returns right after this comments out of china on trade sending stock futures surging up 250 right now were going to find out. Striking back. Taking on the high flying tech sector in a very big way nearly nine months into the year we have a very interesting and random rbi coming up and return of the retailers calling out President Trump warning tariffs could send prices through the roof. Youre watching Worldwide Exchange right here on cnbc. Did you catch that . Did you catch a new hope striking back . Return of the retailers. Nice job oh not to me to our team. Welcome back and thank you for being with us here on this thursday morning im Brian Sullivan and its looking like we could see a galaxy worth of returns on stocks today dow futures up 240 points right now and happen right around 3 00 a. M. New york time. Thats when we had newcomb menlmenl comments coming out saying that they are hopeful that we can sort of come to a mutually agreed conclusion that will benefit both parties im surprising but you can see from that chart that right around that time the futures are down a few points all of a sudden they hiked higher on the words and beat china coming back to the table they have also dominated the headlines recently and you have to watch that 10 and 2 year note yield. We talked about how they call that the inverted yield curve. Im just guessing you might have heard that term on this network sometime over the last couple of weeks. Were getting very close to inverting. The 30 year yield still below 2 in asia, those comments coming out from the asian markets the hang seng rising. 3. Japan down fractionally. The european markets, a mixed trade there as well. And also turning around the european markets as well all the major averages up more than 1 . Despite todays move in futures and that move in europe, risks remain front and center. Not the least of which trade happens to be central policy decisions. We have a number out over the next couple of weeks including the ecb and Early September and on the 18th of the month, we have the Federal Reserve on a debate there about whether or not they will cut rates once again. Investors also bracing for the next round of tariffs between the United States and china going into effect this weekend you also have the rate risk. Falling yields in the u. S. , the inve inverted yield curve and then theres the consumer, the american shopper, possibly the last thing keeping the u. S. Economy afloat right now but guess what, you are about 75 of american gdp you weald a lot of power thats where we begin today with a huge day ahead for retailers because retailers as a group are warning customers of imminent price hikes as the new round of tariffs are expected to go in over this weekend. You also have possibilities of two new bankruptcies forever 21, fast fashion, considering a bankruptcy filing as its debt restructuring efforts fail good news for value retailers, i guess. Dollar general popped overnight in anticipations of earnings today and earlier yesterday you had the mall staple. Brookstone home of the 3,000 massage chair saying it will file its second bankruptcy in four years or is at least reported to a cnbc contributor i dont know where to start because on one hand you have these two sort of expected bankruptcies and on the other hand you have the fashion retailer guest, that stock is up 12 because they said were not going to be impacted by tariffs. We mitigated the impact through our suppliers. We had really good retail reports. Think about it home depot was good and lows was good its already reported and in general, you did great off mall did great, online did great. Discount did great the retail market, the consumer, it couldnt be better. So dont read into forever 21 as a retail weakness its either Company Specific and or the fact that they were in malls which as we know the mall is dead. The mall is dead. But the malls are struggling theyre running down comps. Why does everybody suddenly hate the mall . When i was 15, that was a place to hang outman. Its not anymore. Why what happened. Now you hang out in front of your computer and then you go with your friends to do Something Like to a restaurant and you dont care about hanging in the mall but the people hanging in the mall were never the stuff that bought the stuff in the mall. The people that bought the stuff in the mall were all the women in america that went to work for the first time in 1980s and blasted the mall to the ceiling and we pulled everything out of the mall except for womens apparel and that is now settled into this nice slow role and people dont dress for work anymore and the mall is not any fun and theres plenty of other alternatives because 20 years ago when the mall was booming we didnt have a strong tjmaxx and ross stores and Burlington Stores the stuff across the street from the mall was boring. In no way am i going to mitigate or minimize the tariffs. We had Business Owners on this network that said they are hurting us especially aluminum steel. But we have overstated the risk to retailers we have proven over the years theyre pretty smart in how they source. We know that everybody is getting out of china they were getting out of china before the tariffs started now theyre just getting out of china faster. Theyre getting 60 of their stuff out of china it used to be 90 the apparel guys are getting 15 of their stuff out of china but it used to be 50 thats already happening tariffs have not been that big of a deal. Tier 4 would be a big deal for my world. What is that . Tier 4 the new ones. The other thing going on its going to happen and its still going to move faster out of china and he is getting American Business out of china. Who are the one or two best retailers that you follow right now. The two best retailers in the world are costco and walmart big strong super supply chains theyll gain market share. Can they handle the downturn in the economy yeah. Because theyre both super well capitalized. They are not levered they have plenty of cash flow. Like 10 dividend and buy back stock. Its the 11th retailers. I keep saying were not going to have them this year and we have two more to talk about and in the downturn, we can see 100 and were going to see 12,000 stores close this year be the highest number thats ever closed in history but we could see 50,000 in a downturn but its because we dont really need the retailers and we dont need the stores. Businesses are moving online. We dont need about 800 malls across america but i like the real world advice costco and walmart well run. Always well run and welldressed. I always say we dont need 600 of them. Not 800. Faye enouir enough. Disney opening a brand new star wars theme park at the Hollywood Studios florida location it its disneys largest theme park expansion ever comes after the california opening in may. All of this amid a new report from ubs that finds the number of american customers intending to subscribe to disneys new streaming service that launches november 12th is exceeding the companys original targets theme parks streaming a billion Dollar Box Office machine lead by marvel, a massive tv audience, does the competition were looking at you netflix even come close joining us is the chairman of three separate media and Tech Companies and frankly also cnbc contributor. Tom its great to have you on Worldwide Exchange its a long day for you. Thank you for joining us netflix stock down 20 in the last couple of months. I think the disney threat is spooking investors should it . Well, i think disney is a formidable company the theme park opening is just one more example of how extensive their intellectual property is. How great their brands are what a Great Management Team they have. The man charged with transforming the company in terms of streaming disneys got an awful lot to work with. But netflix is formidable. It really is and it missed its estimates last quarter and wreaks some havoc with the stock but they also doubled down and said they were confident they would be hitting 30 million new subscribers for the year netflix. Just to put that in perspective, it took hbo about 30 years to get 30 million subscribers and netflix is going to add an incremental 30 globally over the years. Netflix is really, really formidable i dont think disneys prospects are really about how much it can do visa vi netflix its about all the other players coming into the streaming world. Is it overly simplistic to pit everyone against each other . Disney versus netflix . Hul uverses this. How much room is there on this streaming screen for the consumer wont they have all of them or most of them youre pointing to a huge issue here which is that we just hit the highest cord cutting quarter in the history of cable and satellite. And it doesnt look like its going to get better for Traditional Television bundle. What people expected was as that happened, subscribers would start going to these socalled skinny bundles that hulu tv offers and cheaper, smaller packages of channels those have clearly not done as well as people thought even though theyre much cheaper at 50 versus 80 to 100 for the cable satellite bundle we have seeing some price resistant set in here. Its bigger than what people thought. There is going to be a limit as to how many streaming Services People are going to take to. Netflix with almost 60 million domestic streaming subs. I dont think theyre going to be the ones that people are going to disconnect because the original programming is so high that they always have new fresh material coming on board i think the other players that are spending in the billion to 2 billion or so in originals a year thats where the competition is going to be disney making the decision to bundle hulu, disney plus and espn plus at a very subscriber friendly price of about 13 a month is going to have a huge advantage there as well as with their brand. To be in that second position i think. But look, movies that have run their course in the theaters are not the game changer netflix had a lot of disney films. You dont hear people talking about the disney films on netflix. Its interesting to see if disney can leverage that film library even though things have run their course in the theater and make that really a basis for the streaming Services Taking off. Do you think disney can make money at 13 a month well, they can make money but what the investor world i think is largely missing is the amount of downdraft they have to deal with on the traditional channel business when you look at espn and about 8 per sub it gets from cable and satellite and you put together the other services of disney and the ones they acquired from fox and youre talking 17, 18 a month. The expectations are that the Linear Television channel world are traditional tv channels are going to lose some 20 million subs or so over the next five years. Well, to make up that 18 a month with 13 a month streaming bundles, you have to get to about 30 million new streaming bundled subs to just make up for what you have lost on the traditional tv side. Now disney has been awarded with a 40 billion increase since it announced its streaming plans in april and a lot of that is excitement on the growth of the streaming but you have to take into account how much the traditional tv world is going to be disrupted in all of that decline. How do you think the consumer is going to react . Theres a couple of ways to look at it. You can do two packages. You can do 45 a month if you have no commercials. How is the consumer going to react . Will they try to save or view commercials or will they pay up a couple of bucks to get rid of them there will be a split on that theres a huge audience out there that wants its Television Commercial free and a lot of the netflix experience is give me all the entertainment that i want on demand with no commercials there. Hulu had real success having a lower price and putting ads into it and disney is actually claiming that that delta between the no advertising price and the price that you pay if you get ads, the value of that advertising theyre putting in there makes up and more for that delta. So it does look like theres consumers that will be willing to pay a lower price and take the ads. I think they have to be very careful not to stuff the ads in there like with Linear Television youve had a number of services that have chased people to netflix and the noncommercial services because the commercial loads have gotten too high so i think there will be limits as to just how much they can get from advertising revenue there certainly its going to be popular with a number of consumer. Certainly, comcast, we have a streaming service that is coming out as well in the future. I wonder though, tom, are these companies maybe im just jealous, are they overpaying for these producers . Are they throwing good money after bad in the hopes of having one or two hits . Well, you know, when i was at nbc, you always ask the question why are there so many network tv failures why arent there more successes out there. And the answer the entertainment people would give is theres just good writers. You just cant get that information Good Television because theres a limit on the number of writers who can put together creative Good Television well, we have seen recently thats just not the case they have done an unbelievable job putting together high Quality Television theres never been more high quality choices on tv and the best of the best as part of that are getting bid off because its clear that original television when it can cut through in an environment with all of this choice rewards services terrificicly and netflix has a low turn rate because of how much on going great material is always there not that an hbo hasnt had Great Television like game of thrones but when it comes far and fewer between and people can disconnect, those turn rates catch you and at the end of the day, its all about how do you hold the consumer there over time particularly with streaming services which are easier to disconnect in traditional cable and satellite which is such a hassle for consumers to do game of thrones came back and people cut the cord on netflix. No one lays it out better than you. Thank you for joining us have a great day thanks for having me. Great to see you. Great to have the insight there. Dow futures up on calminwog rds from china on trade. Were back right after this. You should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. Applebees handcrafted burgers now with endless fries starting at 7. 99. And get more bites for your buck with late night halfpriced apps. Now thats eatin good in the neighborhood. Na blend of quality probiotics. And fermented whole food botanicals, expertly curated to naturally support your gut health every day. Go with align whole food blend. From the pros in digestive health. Computers are coming for all of us. Thats at least according to elon musk. He sat down with the alibaba chairman last night and heres what he had to say. First thing we should assume is that were very dumb and we can make things smarter than ourselves. There didnt used to be humans our earliest civilization is very primitive we didnt have any technology. Were just running around trying to not get eaten or trying to survive a winter now we have like heating and we grow food. This is all new stuff. So things have obviously gotten way more smarter than the past way smarter. Thats going to continue we have not the last step in evolution. We also emphasized that computers will surpass us much more quickly than we realize do you know that they have a. I. Robots that anchor the use no, because theyre not good and i can unplug them. Theyre probably cheaper. But i can just unplug them. You shouldnt be worried. Maybe i am a robot, you dont know thank you very much. All right, on deck, the trade war and your money, david nelson is here with what you need to focus on as the dow futures are up 250 china with an olive branch to trump on trade well tell you what it iand s how the markets may react, coming up. Welcome back we call it the rbi and this one has been a home run at least for some investors well, the faang stocks, they get all the attention and they have done well this year. If you bought the same amount you made a 21 on your money this year. Pretty good but dig this, the sleepily old gold miners have been more precious to investors than faang gdx surged 44 this year as gold has soared gold miners have soared more. As of right now, 2019 is going to go down as the year that gold mining stocks, companies that pulled rocks out of dirt made you twice as much money because of all the sexy big tech names random and hopefully interesting. Lets bring in david nelson, chief strategist at belpoint Asset Management its been a world of 30 years below 2 inverted yield curve. Like netflix used to. Its not surprising in that dynamic. We have gold in all of our portfolios the only gold miner i own right now but you do own it. Yes. Heck of a year. Do you think this is going to continue or shortterm reaction . Investors parking their money somewhere where they do it safe from trade war fears given the inverted yield curve and where yields are around the world, you have negative rates in germany, as far as the eye can see, its not surprising that a lot of money is pouring into our markets here in the United States certainly into the bond markets. Gold has a place and its working right now. Its usually a technical trade you want to own it but it is often just doing nothing right now its working. You like tacos and in recommending chipotle and starbucks is that because of who they are or do you view them as a recession . I follow the numbers. The numbers are strong there and the market has been some what defensive this year despite the fact that we were up as much as we are i look at a starbucks. Its a value stock massacre rca how so . This is a 10 cash flow yield in a world where its about half of that, the s p 500 so im pretty comfortable that even in a downturn people are going to stick with it and not do away with it but theyre going to do away with other things chipotle is a similar story. I dont care how long the line is, its going to move. They prosays them through and thats why they have the growth rate. We mentioned it yesterday on starbucks, wholesale coffee prices which probably nobody looks at but starbucks and Dunkin Donuts are near30 years low. So their labor costs may have gone up but their input costs may have come down at least for now. Progressive. We know their commercials. Why do you think its a good money maker for viewers. They spend a lot on co commercilals it came in about four or five years ago. It looks like a growth stock at this point we try to pull out of the Financial Sector maybe banks are going to be challenged margins are getting hit. But i will look at companies, like some of the insurance companies. Look at the Asset ManagersAsset Managers are paid like i am assets under management but the market up by definition it has to move higher thats the place we are as well. Futures up 250 or whatever they are right now just a couple of words from china. Do you like this back and forth and everybody moving the market around on a tweet or a comment. What i think is happening is that china is recognizing theyre losing control of the supply chain and out of china into vietnam we have been told that couldnt happen and we didnt have the expertise and now samsung is there, dell, its a big story. Well be back tomorrow squawk box begins right now. Good morning, the futures rallying sharply after a Government Official in beijing said china opposes escalation in the trade war. Details are straight ahead china rotating into hong kong and reportedly cancelling a weekend protest march. We have the slatest on this developing story subscriber projections for disneys new streaming service are far out pacing earlier estimates. Well tell you what it could mean for disney shares and competing services its thursday, august 29th, 2019 and squawk box begins right now. Live from new york where business never slopeeeps, this squawk box. Good morning, welcome to squawk box here on cnbc. We are live from the Nasdaq Market site. Im becky quick. Futures are making a dramatic move higher. After 3 00 a. M. Today we heard newco new comments from the Chinese Commerce industry. China hopes the u. S. Will show sincerity and concrete action. Both teams have been in touch and are working to create conditions for successful negotiations as a result, take a look at whats happening with the u. S. Equity futures at this hour. Right now, were looking at th