Moving news from around the world, from hong kong to new york to d. C. We start off with the latest in trade. Larry kudlow im a white house Economic Advisor, signaled the u. S. And china are close to signing phase one. We are coming down to the short strokes. We are in communication with them every single day right now. Joining me on the phone from hong kong is enda curran. Does china agree with this assessment . Musiccertainly, the mood from both sides now is that they are on track to reach some kind of agreement. Mr. Kudlows comments came only a day after china agreed yesterday to lift a ban on poultry imports from the u. S. They started to buy u. S. Farm produce again last month. Clearly some things are coming together, but there are outstanding issues. We still dont know where either side are on tariff removal. That is something of a redline on the chinese side. There are still other areas, like ip protection and the like. Still dont know when any agreement will be signed. Separate
A bluff but the consequences are already quite real Boris Johnson wants the e. U. To take a no deal breaks seriously forcing the bloc back to the negotiating table but with every lurch toward his october 31st deadline the pound has reacted it slid steadily against the dollar leading up to johnsons election as conservative party leader it fell after his meeting with german chancellor Angela Merkel failed to produce a breakthrough and then today a slide of more than one percent before recovering some losses. There have been fleeting gains here and there but at about a 1. 22 the pound is muddling around lows last seen more than 2 years ago and it could get worse analysts polled by bloomberg predict a node that could dump the currency to a 34 year low of a 1. 10. Driving those forecasts is the sheer lack of uncertainty over what a no deal would bring coming out do you have any sort of agreement its a leap into the unknown its going to stall to happen before so they would want some sort of
A bluff but the consequences are already quite real Boris Johnson wants the e. U. To take a no deal breaks seriously forcing the bloc back to the negotiating table but with every lurch toward his october 31st deadline the pound has reacted it slid steadily against the dollar leading up to johnsons election as conservative party leader it fell after his meeting with german chancellor Angela Merkel failed to produce a breakthrough and then today a slide of more than one percent before recovering some losses. There have been fleeting gains here and there but at about a 1. 22 the pound is muddling around lows last seen more than 2 years ago and it could get worse analysts polled by bloomberg predict a node that could dump the currency to a 34 year low of a 1. 10. Driving those forecasts is the sheer lack of uncertainty over what a no deal would bring coming out of the e. U. Of any sort of agreement its a leap into the unknown its something thats hope to happen before so they would want som
Of that from happening to you. It is thursday, it is august 29th and fbn a. M. Starts right now. Youre still the one. That makes me laugh. Still the one. Thats my better half. Were still having fun. And youre still the one. Youre still the one. That makes me strong. Still the one. Cheryl welcome to fbn a. M. Good morning. Im cheryl casone. Lauren good morning, im lauren simonetti. Cheryl lets take a look at how your money is moving on the fresh headlines from chinese officials overnight. It has moved markets. As you can see, futures trading last night were down. Now, the dow is up 196 points, s p up 20 and a quarter, nasdaq up 71 andahalf. Lauren global yields this morning are dropping. The german yield at a new record low, minus 0. 71. With the headlines from china, the yield in the u. S. Is up 2 basis points. Cheryl a little more confidence in stocks there. Lauren we just saw that jump up a bit. Cheryl the Trump Administration rolling back obama era rules on the oil and gas industry
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