It is tuesday, august 6th. Fbn a. M. Starts right now. Nothing else compares. Cheryl welcome to fbn a. M. Good morning im cheryl casone. Deirdre im deirdre bolton, in for lauren simonetti. Cheryl lets take a look at how your money is moving this morning after yesterdays 767 point plunge on the dow, the s p losing 3 . We have green arrows. Were looking at buying this morning, dow is up 189, s p up 23, nasdaq is up 80, looks a little better. Deirdre this is a after yesterdays huge losses. In asia, you actually still have pressure on the markets, this is selloff day two. Youll see on your screen, the nikkei, hang seng and kospi all lower. Cheryl you have that pressure on europe. You also have the eu responding, looking tha that a crash may bee likely. The ftse is down. Cac and dax are now up. Deirdre yesterday was all about safe havens. Gold is off highs from yesterday. If you look at bitcoin and weve been seeing this more and more over the past six months, when u. S. Equity markets sell
Thatdominated yesterdays action, that along with chinas currency move. Overnight Chinas Central Bank setting the yuan mid point firmer than many expected. That happened at 9 00. We saw a turnaround in u. S. Equity futures which were down overnight as much as 600 points at the lows. Right now a positive open across the board. S p looking to be up by 11 points dow jones up by 102. The nasdaq looking to recoup 44 points as for u. S. Treasury yields, we saw a 2016 low also. We had the tenyear note at 1. 758 overnight we breached that 1. 7 level. A key level here. We have cnbc reporters everywhere this morning covering the Market Reaction to this escalating trade war willem marx is in london well get to him in a moment, but across the world to china. Eunice yoon is on the ground in beijing. Reporter china strongly opposes being labeled a currency manipulator. The central bank, which manages a floating currentry cy exchang rate called the move unilateral protectionist behavior that violates
This hearing of the Senate Agriculture committee. Its about an hour and 45 minutes. Morning. I call this meeting of the Senate Committee on agriculture under order. We are happy to have you back here again before the committee to discuss the need for certainty in our Global Agriculture markets. International trade policies and their impacts on the United States agriculture economy has been a topic of great interest over the last few years and more particularly the last few months. In fact, this is the second time in the last year that we are hearing about the efforts being made at the office of the United States trade representative and the department of agriculture, efforts that i hope will eventually result in longterm reliable markets for the United States agriculture. A great deal has happened in the nine months since you all appeared before this committee. Perhaps the most significant to our members was the successful package and enactment of the 2018 farm bill with the help of ev
You today to testify on the president s trade jaeagenda ande newly renegotiated United States mexico canada agreement. I would like to begin by notie ingnoteing that the American Economy is growing well. Were growing substantially faster than any other g7 country. We added 5. 8 million jobs since the 2016 election. Notab notably, 500,000 of those jobs are in manufacturing. The Unemployment Rate of 3. 6 is the lowest in half a century and has been at or below 4 for 15 consecutive months. Hourly wages were up some 3. 1 over the last 12 months. And contrary to what one hears, exports are growing. Indeed, 2018 was the highest year in our history for exports of both goods and services. While agricultural exports in 2018 were not the highest in history, they were up over 2017 and 2016. Im pleased to present the trade policy agenda at the 2018 annual report of the committee. This document, which u. S. Put out usgr put out recently outlines the administrations trade priorities and catalogs rec
Plus, what investors and consumers like you need to know. Power lunch right now. Well, well, well an historic milestone once again for the dow. Its been a while, but now we are above 27,000 first time at that level on the back of 150pluspoint run the s p and nasdaq, they have turned negative, but the s p once again dealing above 3,000 briefly. United health, a major catalyst, accounting for roughly 80 points of the dow gains the stock having its best day since october 2017 weve got more on this well tell you the whys, where fors, and whether to buys coming up rates are spiking. Yields on the benchmark tenyear treasury note jumping this hour, just 2. 21 that, kelly, is quite a move and well keep a close eye on it tyler, thanks. Those old records do keep getting broken we have turned a lot lower in the past hour. Bob pisani is here to explain it all. Bob . Well, just on that note, just let me show you interest rateciti stocrate ratesensitive stocks. It was a disappointing bond auction. T