Interview with the ceo of agios. The stock got more than 6 today. Well find out why. And pay attention. Can you name todays mystery chart, the stock dropping at 1. 15 , bounced back a bit, had a bitter cold Holiday Season any ideas . Interesting that means something you probably do its a retailer. Well give you the name coming up but we begin with news on trade. The United States officially dropping the currency manipulator designation for china. Aman jabbers in washington with the developing story. Thats right, the treasury making it official at this hour, they are dropping the currency manipulator designation that they slapped on the chinese last year theyre removing it today. The Treasury Department saying in a statement thats for two reasons. One is the appreciation of the currency thats happened since last fall and the second one is agreements that theyve made inside the socalled phase one trade deal theyre saying in the agreement china has made enforceable commitments to refrain
Expected to remain in place until after novembers election. Steve mnuchin says there are no side agreements ahead of the phase one China Signing today. Equities fall on concern that trade tensions arent over yet. That is a report suggests the u. S. Is drafting rules to block. Ore sales to huawei ubs embarks on a sweeping round of job cuts as Morgan Stanley promotes the fewest number of people to its top ranks since 2002. Goldman sachs reports later today. Just under an hour away from the start of cash trading. Lets take a look at what features are showing us. They are red arrows across the board. Not big in terms of side size. A few drops in dax and ftse futures. Futures, there. Are red arrows. Early on in the game, 7. 5 hours to go until the nys be brings its opening bell. We see s p, nasdaq, and down jones features down. What do you see . Anna something negative on the asian equity session. Asian equity markets headed to their first job in five sessions. Drop in five sessions. We see
Largest economy in europe for 2019. There are more concerns about the global trade deals than there was yesterday. You can see european stocks pretty much flat. The dollar pretty much a steady. We are getting some data out of germany shortly. We also speak to the dallas fed president , Robert Kaplan at 3 30 p. M. London time. Lets get straight to the bloomberg first word news. Now, u. S. Story for tariffs on china staying put. The Trump Administration is likely to keep them in place until after the president ial election. Any relief is also contingent on compliance. Steven mnuchin and says tariffs wont be removed until the next stage of a trade deal. These tariffs will stay in place until there is a phase two. If the president gets a phase two quickly, he will consider relieving tariffs as part of a phase two. It has nothing to do with the election or anything else. Today, the u. S. And china are scheduled to sign their phase one trade deal. 1 billion is the figure by which jp morgans
Its wednesday, january 15th and fbn a. M. Starts right now. Keep on turning. Proud mary keep on burning. Rolling, were rolling, were rolling on the river. I tell you were rolling, rolling, rolling on the river. Cheryl lauren we are rolling this morning. Hell welcome to fbn a. M. Im lauren simonetti. Cheryl rolling into wednesday. Good morning. Im cheryl casone. Lauren the dow is up 32 points yesterday, small declines this morning ahead of earnings from bank of america and Goldman Sachs. Dow down 49 points. The chinese delegation in washington to sign the trade deal. Cheryl asian markets, there has been optimism so far this week until today for asian markets. Some other issues going on. The nikkei down half a percent. Hang seng and kospi in the red. Lauren as were waiting for ink to paper for the phase one, the ftse is up a quarter of 1 in london. Cheryl breaking this morning, it is our top story, the u. S. And china set to declare a trade truce today. The two countries going to sign th
Markets are not going anywhere, the european stocks are flat, the pound is flat against the u. S. Dollar, this despite some week inflation today and another member of the bank of england coming out and talking about a rate cut coming from the bank. The expectation that we will get another cut is growing. The ruble as well, we saw some movement. The Prime Minister will be stepping down with a lot of questions surrounding why, and what that means for president Vladimir Putins future. Everyone is waiting to see that trade deal get signed. Vonnie lets stay there, a president assad to sign President Trump is set to sign the phase one trade deal in the tower. The agreement would lead leave significant tariffs in place and would punish beijing for failing to deliver on key pledges like currency, and intellectual property. Steve mnuchin spoke about the issue of future tariff rollbacks earlier today. As part of phase two, there will be tariff reductions as part of that. Thats the incentive for