Subsequent whistleblower complaint. At 9 30 a. M. , Family Research Council Center for religious freedom policies. Ravis weber host good morning. It is tuesday, september 24, 2019. President trump is in new york city where he will address the United Nations General Assembly. President trump became the First American president to convene a meeting on the issue of religious freedom and on the washington journal, we will begin on the topic of religion. We are asking your view of religion and public life. The phone number to call this morning, 2027488000. If you think religion doesnt play a large enough role, 2027488001. If you think american politics and civics gets that balance about right, 2027488002 is the number to call. You can also text us your thoughts. If you do, please include where you are from and your name. That number, 2027488003. On twitter it is cspanwj. On facebook it is facebook. Com cspan. Very good tuesday morning, you can start calling in now. We are talking about the
Alleged phone call an apparent trade detente that was apparent flipflops leave beijing unsure of u. S. Policy. Is the first of chinas big touted by the u. S. Administration, we saw the yuan banks to report earnings. Six in terms of the senate how the trade war is affecting devaluation was the largest performance. Shery lets get you started since the beginning of august, when we saw the risk of event with a quick check up on how markets closed. Where the yuan bridged the seven level. Theintent is there from it was a wild ride, with u. S. Chinese site. Dogs paring back gains. The s p 500 finished down. 3 . If we see these levees continue to be raised on september 1 and it is a very financials leading the declines with the 10 year yield falling politically important date for below 1. 5 . He dow gave up 120 points the chinese. It is the 70th anniversary of the peoples republic of china. That is not something the chinese are willing to let slide it was a bit of a mixed picture with volatili
Index is up 1 today as well. Key banks saying memory chipmakers are possibly on the rebound come so that has some rallying today. So that has semis rallying today. Its get to our guest, Charles Dumas of ts lombard. What will mario draghi announced tomorrow . Charles i think he will come through with some further 10 basis point move may be on the negative rates, from 42 50. 40 to 50, and with tiering on the banks. That is the important thing. Theres also likely to be a revisiting of quantitative sing, for which theres about , yeorth of scope Something Like 30 billion a month. Vonnie weve been hearing from strategists and economists that say there is really not much that that kind of easing will do, that that kind of stimulus, and even earlier on, our guest took exception to the word stimulus, saying this is not going to stimulate european economy. Charles i dont think it does. I think your guest was correct. The basic point is for 10 years now, or at least since 2011, the euro zone has
We could have had a 0. 4 move on the european stock markets development we saw over the weekend. The german tenyear yield move reasonably small. We are still trying to figure out what this means in the longer term implications. It is a story that has the potential to upset the Global Economy. It has the potential to upset the gulf region. Lets talk about the details of the strike we saw in saudi arabia over the weekend. We have had more reports coming out related to who may have been responsible. How long does it take to fix . Lets ask that question now. Really quiet. E we are not getting much from them at this point. The markets are left with the idea that it could be a while before they get this back online. The first thing you would want to hear as an investor is for the ceo to get out in front after the attack. They said they would update us within 48 hours. Were still waiting on that. People are saying they expect this to Linger Longer in terms of getting full capacity back. Produ
Italy at a record low. We will be going to italy in the next little bit to talk to maria tadeo about those talks. The lira down 6 10 of 1 . 8 10 of 1 germany lower. On a flurry of geopolitical headlines, we are joined by tom globalndstrat advisors head of research. Anything in the last couple of weeks to do with the fed, to do with earnings, that has changed your outlook fundamentally on yearend s p 500 . Tom i think theres been a lot of stresses to our base case. Our base case is assuming there is going to be china trade tensions and there isnt going a fed change. Vonnie how much is that a problem . Clearly we are seeing business spending cut back. We are also seeing businesses blame china, like autodesk, for example. How much is it actually impacting the economy . Tom i think the Downside Risk is really escalation. If we are talking about what was implement it even just in the past week, i think the levels of tariffs are still something businesses can work around. I think theyve prov