Market but bond market and this inversion of the yield curve. We can talk about what youre seeing, what people are telling you. The bottom line, if history is a judge this could mean recession is on the way. Reporter makes people so anxious, connell. Yields on two year treasurys rising above the yield on a 10year. First time since 2007. That date alone spook as lot of investors. The yield curve on shorter end, now as people call it inverted. The reason it makes so many people anxious, that means investors have less confident in the near term economy versus the long term economy. Normally if you loan money in this case to the government for a short period of time, you expect your principle plus a small payment, youre not loaning money for that long. If you lend money longer you expect a bigger pay back. That is the normal logic of the bond market. You get paid more for lending longer. When this pattern reverses like now, it signals a shift in the pattern, signals a problem for a lot of
Win would lead to a total meltdown especially when it comes to markets. Stuart talked about hong kong. Were watching it closely. Well have a run on the banks well talk about. A big weekend ahead in hong kong. Well look live where tensions stand right now. Lets get to trade, how governments are reacting to what is happening. The dow is up 275. Were ending week on up note. We have a few hours to go, still down overall for the week whether governments are aware well get to that in a moment. New stimulus could be helping stocks. Hillary vaughn starts us off at the white house. Hi, hillary. Reporter connell, President Trump says the september meeting with chinas trade delegation is still a go. He talked on wednesday with chinese trade officials. He is expecting a call soon with president xi. He said if china dares to retaliate against september first tariffs he thinks the u. S. Holds the ultimate retaliation or ultimate form of retaliation. I never said china was going to be easy but it is
This hour. Protests in hong kong protests in hong kong continuing for the 11th week. Residents converting their money into other currencies. Twitter and fast facebook cracking down on misinformation. Business roundtable a group of top ceos, including Jpmorgans Jamie Dimon now saying the purpose of a corporation is no longer about higher profits or shareholders. Well tell you what its saying instead, what it would mean for some of the worlds biggest companies. First it was the Dominican Republic. Now costa rica. The Health Ministry in costa rica 25 people have been killed as a result of tainted alcohol. Were bringing you the latest details. Connell back to the markets. Three days in the green, well bring you coverage from Kristina Partsinevelos from the floor of the new york stock exchange, Edward Lawrence covering trade and phil flynn tracking oil and gold at the cme. Kristina, well start with you. Reporter s p 500 closing in positive territory. What are the big winners . Les talk abou
U. S. Energy dominance in an appearance he made in pennsylvania. He said to make his way back now to bedminster, new jersey. Well follow him and any breaking headlines. Edward lawrence is at the white house for us. Jackie deangelis on the floor at the New York Stock Exchange, and phil flynn watching oil and gold at the cme but with the tariff news, edward, we start with you. Reporter u. S. Trade representative Robert Lighthizer announcing today they will delay some tariffs until december 15th, on some items based on health, security, and national security. They also, those items are on a list of 21 pages right here. Yes, it does include underpants in those items. One of the big once, cell phones, laptop computers, toys and clothing, including footwear. All of those tariffs delayed until after the Holiday Season basically for buying. The tariffs are not going away, just delayed on other select items. Another 122 page list shows will be under tariff that will happen on september 1st. Tha
Ed isly the president picked up what facebook is looking at. He has a proposal of his own coming up as well. First to the story that broke earlier today in washington, the embattled labor secretary alex acosta from stepping down from his position in President Trumps cabinet. Blake burman live at the white house with the latest on that. Reporter connell, the timeline fairly quick when you look how it unfolded last week. On saturday the feds took Jeffrey Epstein into authority. The Southern District of new york laid out its case, the newest charges they presented against epstein. That forced labor secretary alex acosta to go before cameras here in washington, d. C. , on wednesday to defend the 2018 nonprosecution agreement deal that he strong with epstein and epsteins attorneys back in florida more than a decade ago. Fast forward to this morning, friday morning, acosta submitted his letter of resignation to the president. The president was complimentary of acosta who said he is stepping