U. S. And china are trying to temper some of the repercussions trade war is having. You can see euro stocks gaining 0. 6 . The yen is also a good litmus 7. 81and you can see one of 107. 81. Tomorrow, we also have the ecb to look out for. Coming up, we speak to the former u. S. Ambassador to the European Union. Dont miss that interview at 10 30 a. M. London time. We talk u. S. Foreignpolicy and brexit. Lets get straight to the first word news. U. S. Goods to be exempted from tariffs last year were announced by china at the top of the list are pharmaceuticals and lubricant oils. Beijing is seeking to ease the impact from the trade dispute without lifting charges on agricultural item like soybeans and pork. The ministry of finance says further rounds of exemption will be released. Morgan stanleys ceo warned against the fed cutting too easily but says he supports of the reductions made so far. He made the comments at the Columbia Business School in new york. I have supported the latest fed
Washington stands by with Emergency Oil reserves with President Trump saying the u. S. Is locked and loaded chinas industrial output growth slows to more than 17year low in august and another sign the u. S. china trade war is weighing on the worlds second largest economy well, our top story this morning, crude prices are trading sharply higher after a series of attacks that shut down output at two of saudi arabias Biggest Energy facilities. Jones hit the biggest Oil Producing fields both owned by saudi aramco they account for 5. 7 Million Barrels of daily output around for 5 of daily supply rouhani will not meet with President Trump according to Iranian Foreign Ministry Spokesperson they told Iranian State tv that, quote, such a meeting will not take place President Trump said the u. S. Is, quote, lock and loaded depending on verification of who is behind the attack hadley joins us from riyadh, really exciting and really unprecedented 24 hours out of the region, laid what has been the
Intention to annex parts of the region has also sparked outrage in the arab world. Very welcome to you watching r. T. International with many caring. Well more than a year since the u. S. Quit the a wrong nuclear deal President Donald Trump has said making an agreement with 2 wrong could be a good thing he also commented on his reasons for his National Security adviser john bolton. They are a much different country right now than they were 2 and a half years ago when i came into office. And i do believe theyd like to make a deal if they do that its great and if they dont thats great too he made some very big mistakes when he talked about the libyan model for kim jong il and that was not a good statement to make you just take a look at what happened with khadafi that was not a good statement to make and it set us back and frankly he wanted to do things not necessarily tougher than me you know johns known as a tough guy so tough he got us into iraq. John bolton was well known for his agg
Weekend for labor day. Road map, it starts with some optimism on the trade war front. Same thing we were saying yesterday. Stocks rising amid cooling rhetoric but here come tariffs. A new set, theyre going to be hitting chinese imports and will kick in this weekend. Keeping an eye corporate earnings, plenty this morning. Campbell soup, ulta, dow, workday. Shares rallying, this on news that 16 models will be exempt from the china import tax. All three major indices in the red for the month. And the nasdaq is the biggest decliner still down more than 2 , this might despite what has been a last rally the last few days well see how we end the month. It has been a round trip, actually, from last thursday to yesterday on the s p 500 you recouped all that was lost on that friday, a surprise escalation in trade war fears. Todays open at the s p level that were seeing right now, it would take you back three weeks. Basically august 8th, most of the losses of august, it is kind of partly, i think
Magnificent seven are in correction territory but nvidias getting a boost ahead of its earnings. And were going to keep focused on those economic challenges in china. The countrys central bank cutting a key Interest Rate by less, though, than many had been anticipating. Oh, yeah, who is many anymore . Slew of press over the weekend as well. The journal writing kind of a devastating headline. Is it over after 40 years . Yes, definitely over. Who can say this stuff . We were here. We were lucky enough to witness the fundamental change in the chinese economy. It happened over the weekend. Happened over the weekend. Theyre trying to be a service economy. That was it. Done. Maybe president xi has just said, you know what . Every bankrupt artist, every ridiculous guy who built too much and every ridiculous person who tried to get extra yield, sorry. Why not . Why not clean up the excess . Well, but the question, of course, is, contagion. Oh, contagion. Yeah, some of the huge promote companie