One basis point. Crewed up by over 1 , but it has been a brutal crude up by over 1 , but it has been a brutal week. Its time now for global exchange, where we bring you the market moving news from all around the world. Lets kick it off with the latest on the trade war. Chinese officials are narrowing the scope of what they will address in highlevel talks that kick off thursday in d. C. Bloombergs shawn donnan joins us on the phone. What do we know so far . Shawn the chinese delegation is coming again to washington this week, led by chinese vice premier liu he. He has been saying there are two big things they will take off the table this week. That is any discussion of broader industrial policy, and that is made in china 2025, this plan from xi jinping to dominate the world in areas like robotics and artificial intelligence, and also government subsidies. These are the subsidies that have really fueled chinas industrial rise over the past 20 or 30 years. They are off the table as far as
I am Francine Lacqua in london. You can see the stoxx pretty much unchanged, and if you look at the chinese were nimby the renminbi, china does not want a comprehensive deal with the u. S. , and we are looking at the pound, because we are seeing a little bit of a move on brexit, things on both sides, the eu saying they are looking at a proposal but are expecting more from the u. K. , the u. K. Saying they want to speak to Emmanuel Macron, the president of france, directly, and the euro is now at 1. 0973. And hsbc is cutting jobs, but bloombergs get to first word news. Reporter ready to emerge with impeachmentrump inquiry, a Law Firm Says it is acting on behalf of multiple whistleblowers. Abc news earlier reported the second whistleblower has not yet spoken to the committees investigating the president. The white house says this does not change the fact that trump did nothing wrong, and ealspects for a brexit d fading, after doubt be a cast on whether a deal can be reached before the oc
Official think lowering to a negative rate will not provoke a backlash. Attention on the trade war. The deficit seen widening last month. Lets get a quick check of asian futures right now. In japan we got the nikkei futures pointing modestly higher. A similar story and south korea. While here in australia we have got futures pointing higher. New zealand been trading for an hour now. Not a great deal of action to report. Paul shery ahn u. S. Futures not doing much of the moment. After stocks drifted throughout the session, and then we had a slight uptick for the s p 500 to gain. 3 . We have consumer shares rounding and Energy Stocks were some of the big losers. Losing a lot of ground after that huge surge we saw a 15 for crude monday and continuing to fall below 60 a barrel. We also have banks underperforming. Ahead of thatll fed Rate Decision on. Wednesday ahead of that, we are now seeing the money markets and turmoil. Take a look at this chart on the bloomberg. We saw the rates surge
Prices and lack of demand. Oil is up about 2 amid more tensions with iran. That countrys foreign minister is threatening allout war in the event of a u. S. Or saudi military strike. Meanwhile, facebook chief Mark Zuckerberg heading to capitol hill today, trying to promote his vision for moderate internet regulation, as antitrust investigations are heating up. Plus, we have news on a possible isis connection to that mechanic who tried to sabotage an American Airlines plane. And Major Tv Networks are saying no to advertising ecigarettes. Varney company starts right now. David first to washington, d. C. , where midlevel china trade talks are kicking off today and they seem to be having a positive effect on the markets. The Dow Jones Industrial went from negative to positive on the news. Edward lawrence joining us live from the white house right now. Hi, edward. Whats going on . Reporter yeah, literally right now, the talks with the chinese delegation have started. The delegation has walke
The nikkei up. 3 , volumes are pretty light, the seasonality effect as far as that goes. Asx up point tend to the one side. Joining the negative field club, all the way up to 15 years and negative terrain. ,ets look at what is happening german futures there as well. Guild,ed, look at the nearly 1 in negative terrain. Theyre joining with the germans and the swiss here. Treasury at 1. 64 . Where are we with the trade talks . Out as we get over to the first word news with su keenan. Kudlow saying the u. S. And chinese officials have had a productive call on trade negotiations and they are planning a followup in the next few days. He also said there is no change on plans for a chinese delegation to visit the u. S. In september. Chinas ministry of congo comers echo the hope of finding a solution but also criticize the u. S. Approach so far. Postpone the tariffs on some chinese goods has proven there is no winner in a trade war and the u. S. Consumers enterprises will suffer huge losses if t