Shocking news, an outspoken founder leaving the company. And beta bearing down on the gulf coast as they brace for another storm. This is Worldwide Exchange right here on cnbc good morning, good afternoon and good evening thank you for joining us to start your week and lets get a check on your monday money and its looking like the sell off we have seen recently. Its early but stock futures are down 500 on the dow. Nearly 200 on the nasdaq theres a ton of news out there today. Well get to all of it in a moment but theres two big and important things happening that you have to Pay Attention to right now. Number one, the s p 500 has fallen three weeks in a rowand it just flows below its 50 Day Moving Average for the First Time Since april two, the biggest stocks are beginning to underperform. Some of them meaningfully. Take a look at these the s p 500 dropped 5 this month. But the biggest tech names, names that you know, theyre down 11, 12, 13 apple, down 19 in the month of september. Rem
have the authority over the fd that they just asserted. and i do believe it creates crisis should the supreme court d that it would essentially institute a national abortion baton. plus, as donald trump s nimble sort of republicans i the wake of his indictment, ro desantis plotting in florida o how to take him down new reporting on the florida governor s plan to beat th former president and that s coming up the majority of members of the nashville metropolitan council tell nbc news that they will vote to reinstate expelled state representative justi jones to the tennessee legislature. after he and colleague, justin pierson of memphis, were expelled for protesting on the chamber floor against gu violence that bill could come as earl as tomorrow. and both ousted lawmaker say that they vowed to return to the state legislature. and d.c. s kathy park joins me now the latest kathy, what s next yeah, you were out there as well last week when all of thi kind of came into light. r
Lets see how things did overnight in asia. Asia was leading the declines yesterday. This time a little different story. Nikkei closed up by 1. 5 hang seng was up by 0. 6 shanghai was flat. In europe, at least at this early trading hour, there are green arrows across the board. Barely hanging on for the ftse the dax and cac each up by better than 0. 6 looking at crude oil prices, at least right now, crude oil looks like its down 7 cents 55. 26. Couple big stories were watching, mattel has rejected a takeover approach from rival hasbro reuters reporting that mattel believes the offer undervalues the company and doesnt take into account the potential for regulators to rejected the deal on antitrust grounds reports saying mattels new ceo who took over in february may be trying to drive a harder bargain in talks with hasbro the company cut its fullyear revenue outlook. You are looking at both of those stocks now time inc is reportedly restarting talks to sell itself to publisher and broadca
August. Personal spending suffers a drop since january. Latest moon shot project unveiled by google x. Delivery drones are real, and google and amazon are not the only Companies Taking to the sky. Apple preparing to catch its rivals and roll out technology that turns the iphone into a credit card. Well see september 9. First up this morning, Economic Data shows a decline in consumer spending, down. 1 in july, and auto purchase account for the weakness. The dow and s p each up more than 3 for the month, and nasdaq with a more than 4 gain. S p, nasdaq, and russell on pace for the best performance in 14 years. There was a contest whether august would be the best month of the year. It will be tough. Dow needs 16 106 points, and futures are not indicating that sprept this morning. Still a strong month. Four straight weeks of gains, something not seen. Since november. Overall, a strong month. Everyone is trying to figure out whether the growth we saw last quarter can be sustained. Economists
Profits. Nestle hits the sweet spot. Despite a slow down in emerging markets. Coming up we speak to the ceo of the swiss consumer giant. Youre watching Worldwide Exchange bringing you Business News from around the globe. Straight to our top story this morning, in the last ten minutes the ecb has denied or thes that policy makers have discussed capital controls from greece. The report came from a german newspaper citing bank sources. Anneta lets start with you. Were just hearing from the ecb that the governing counsel has not passed capital controls for greece. That refers to the report we had this morning in which they were quoting ecb officials saying that it would be a good idea for greece to install capital controls looking at the outflow of deposits which were currently seeing. Of course the ecb is saying that has not been dispatched from the governing council but putting that official opinion aside, looking at the rational behind spreading such rumor at that point in time could le