In part because the chinese did respond to our last hike in tariffs. A spokesman for Chinas Ministry of commerce quoted as saying that escalations of a trade war wont benefit anyone two sides still planning to meet in september of course, much of this rhetoric or communication is what weve been seeing for some time. I dont think any of it necessarily means the chinese are not still in a stance that sort of has them backing off from full engagement that somehow would lead to a deal in the near term. I think it was a surprise olive branch, maybe, taken as good news by the markets that things werent going to escalate even further at the moment but youre right, in terms of a deescalation, theres not much evidence september 1st, this weekend, were set to have a new round of tariffs go into effect on products coming from china into this country smart watches, bluetooth headphones, flat panel tvs, some footwear december includes cell phones, laptops, clothes, and toys the retailers that repor
Through to the open. The s p up about. 87 . Nice gain. The nasdaq up better than 1 . It is a rally. Please note, the market has completely reversed, the selling that greeted the inverted yield curve scare and the china trade scho scare even though that is a threat. The Hong Kong Police have banned the giant demonstration planned for this saturday and beijing has brought in fresh troops. The scene is set for a crackdown. If that happens, it would likely affect china trade talks. By the way, monday, the hong kong protesters have called a general strike when our market is closed. Watch out Tuesday Morning. Heres what we have for you. The markets rallying bigtime. Interest rates are falling. The president speaks to Brian Kilmeade and here comes dorian. Likely a cat 3 hurricane when it hits florida. Varney company about to begin. Stuart ive got to say this. The market just seems like it just wants to go up, bearing in mind yesterdays rally and what weve got coming at us first thing this mor
Warrens socialist policies. Highly destructive to your Retirement Plan so just watch out, on the show today. We will say the same thing about gamestop. The video Game Retailer down and almost out. You stream games these days, dont you . Dave busters, watch out. They predict a sales decline. Ouch, not good when we are spending more and more on eating out. The stocks way down. As for apple, the big news there is cheap streaming, 4. 99 a month and a cheaper phone, 700 for the new mass market iphone. Investors just shrugging it off. Yes, it is september 11th. 18 years on. We all remember. Varney company is about to begin. Stuart lets start with money. We are going to go up at the opening bell today. Futures are flat to slightly higher. Look, 44 up for the dow, 14 for the nasdaq. Do Pay Attention to the dows level, 26,938. That means its about, what, 400 points from the alltime high. Flat to slightly higher this morning. North Carolina Republican dan bishop wins the special house election.
Both sides did hold phone talks adding recent contexts dont have the significance that the president suggested. President trump and treasury secretary mnuchin were asked about that report and here is how they responded. I dont know what you mean by that low level, the vice premier is low level, i dont think so. What is the position of the gentleman who was quoted in the newspaper today . Came out with a very significant and we communicated the vice premier of china thats not low level. I agree the statement that was spoken before me was are you ware of the calls happening . President trump and his french counterpart Emmanuel Macron will hold a joint News Conference, perhaps as soon as half hour from now well see. When it is held, of course, we will go live to it a lot to digest this morning i guess first thing i would share to you to bring it back to the markets, making my usual calls this morning of a number of asset managers, you get a resounding theme, which is this is an untradable
General motors negotiations resuming next hour. The strike coming as gm faces declining sales and is closing plants with uaw leadership while facing an fbi corruption probe. Have news on vaping, opioids and chinas economy as well but im david asman in for stuart today. Good monday morning with varney co. Start right now. David lets get right to oil. Studies have shut down 5 of the production after two drone attacks. West texas crude and brent crude surging on that news over 10 . Here are dow components exxon and chevron free markets. They are unchanged but those situations could change dramatically when you have the opening bell. Stocks are a big along with the entire Energy Sector of the orbit here is President Trumps latest tweet on the subject because we have done so well with energy over the last few years, thank you mr. President , we are a Net Energy Exporter and now the Number One Energy producer in the world and we dont need middle eastern oil and gas and in fact, we have very