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Moving out to the sidelines. Leaders gathering in england for a second day of meetings and another black eye for boeing as a Major Airline opts for airbus all of this as we begin right now. Good morning and welcome to the show, im dominic chu in for Brian Sullivan lets check out what is happening with dow futures they were lower until a headline moved from Bloomberg News saying u. S. And china are inching closer to agreeing to the amount of tariffs that will be rolled back in a phase one deal those headlines sent futures which were solidly red this morning and all of a sudden shot higher the dow is up about 135 points if there is a lesson in the last 24 hours, it is that every single trade headline matters. The dow at one point falling more than 400 points before closing down 250 days lower. The worst day insurance early ....
Have a close working relationship we had a productive meeting at the last g20 i look forward to this one will we see a deal by the end of this year i cant speculate on that im hopeful but there needs to be the right efforts in place. This is not a deal for the sake of having a deal we were about 90 of the way there. Hell see what we get. One thing on the minds of a lot of folks in the persian gulf area is the potential for that International Coalition in terms of protecting shipping lanes in the persian gulf and the strait of hormuz. I caught up with brian hook over the weekend, he suggested the possibility of this. What kind of conversation are you anticipating when you come to the g20 on this specifically . Will we see monetary contribution can we expect to see their ships in the persian gulf . Will be discussions this is an important issue not just to the region but to the world and to china where they depend on energy ....
Good morning a warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Im Morgan Brennan. Good morning great to have you with us its not a great picture for the futures market this morning. Big selloff in asia has infected the rest of the world. Futures pointing lower to the tune of 70 points. Less pronounced in the Asian Session or the european session. Nasdaq down 23 the s p down 6 yesterday the broad summary was that a small tech recovery was not enough to spur the other indices higher we were down 0. 4 for the dow and s p. The nasdaq did outperform but down slightly. 10 of 11 s p sectors were lower. Only tech was higher tenyear treasury note has been slipping in terms of yield this week so a riskoff sentiment. A bit of buying of the tenyear bond has pushed yields down to 2. 33 this morning. Over the weekend ....
Now. Brent down more than 1 . Natural gas up slightly. Mr. Wonderful and mrs. Wonderful. Are we allowed to say that youre not together, but thats were you watching before yes, i thoughtthat was a great tease. Kayla is mrs. Wonderful. Shes terrific kevins the original. Maybe im lower case w. Weve got a lot of news to talk about this morning. Geely auto has bought an 8 stake in volvo also giving gely the rights. Gely also owns the truck maker volvo started to do much better. Are you guys volvo fans . Ely als. Volvo started to do much better. Are you guys volvo fans . So i always had a volvo growing up im a fan. Kevin, i can tell youre not volvo. Im getting to the place where i think all auto manufacturers are going to make rail cars in 20 years. Because autonomous driving whether its for individuals, trucking, the brand wont matter as much. You dont even know the name of the company that makes all the rail cars. Its a huge company but nobody cares. But you know so tell us i dont know, ac ....
And im Courtney Reagan in for sara eisen thanks for joining us today. This monday morning after the super bowl, if youre up, you might be a little tired. But may also want to be somewhat elated if jim is watching i hope hes asleep after a big night of celebrations. If hes not, congratulations to him and all eagles fans. Lets get to the markets a roller coaster ride last week particularly when we saw the dow sell off 2. 5 . The nasdaq and s p both down 2 . For the week as a whole, the dow was off more than 4 nasdaq down 3. 5 and s p in between those two dow about 127 points, nasdaq 12, s p, 9, clearly much more muted than that massive selloff we saw on friday. Worth pointing out on friday, all 11 sectors were lower for the week Energy Materials were the worst. Health care and tech also pretty bad. And yield has been a crucial factor for markets over the last couple of weeks ....