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all that and much more on making money. charles: an indifferent session became one of high anxiety and selling. there is debate what is impacting the market most. first the world health organization held the coronavirus update, noting that iran finally reported numbers of those infected including two deaths. the doctor portrayed a race against time arguing the window of opportunity to contain the virus remains open. he urged everyone not to squander the chance to arrest this situation also noting that the window may close. that coupled with reports that u.s. hospitals are gearing up for a pandemic triggered the selling. then there were also comments from fed vice chairman richard claire reed today, who threw cold water on potential fed rate cuts this year, noting that the u.s. economy is strong and in his opinion most market participants don t expect rate cuts this year. we ve got some major market participants who will weigh in on that. meanwhile the selling is swi ....
planned to ask the u.s. not to impose tariffs on december 15th, 15% tariffs. not seeing the vice president s speech strong enough to stop the trade progress. still chinese saying the speech was full of arrogance, hypocrisy as well as lies. spokesperson for the chinese foreign ministry pushing back on the human rights accusations. turning it around on the u.s., highlighting income gap between rich and poor, pulling back from treaties and mass shootings. we advice people in the night to take a good look at themselves in the mirror to recognize their own problems, manage their own affairs. vice president chief of staff made a point directly, to talk plainly to the chinese government, plus tell them that the u.s. is willing to work with them. i think the vice president extend ad hand to say we do not want to decouple from china. we re anxious to have a trade deal. at same time, what i think we have seen administrations do, republican, democrat alike. once we allow china i ....
investors investing in china, but also a broader issue of these financial flows between the u.s. and china and how you addressed those when they involve an economic rival, a rising economic rival like china. i think we have seen these qualified denial from the u.s. treasury and peter navarro, but also confirmation that this conversation is taking place inside the white house. kevin: what are the expectations for next meets meeting with the chinese for next week s meeting with the chinese vice premier? thethe explanation expectation are they continue talking. we should be clear that we are not close to a grand bargain. i think the real subject of conversation right now is how do you keep a temporary truce or some kind of peace in the world? one thing we will be looking for in these october 10 and 11th talks is what the u.s. announces in terms of tariffs due to go up october 15. shery: tonight china celebrates the 70th anniversary of the rule of the communist party. g ....
president trump is set to speak in new york city amid ongoing impeachment efforts from democrats in d.c. we ll bring you the president s comment as soon as we get them. connell: as we wait for them, fox business team coverage, kristina partsinevelos on location at the news conference for us. gerri willis on the floor of the new york stock exchange, hillary vaughn on capitol hill. grady trimble in detroit latest on the auto workers strike. bernie sanders made an appearance. we wait for the president i will start with you, kristina. a focus on trade. three areas, first agricultural industrial goods as well as digital trade. this deal was supposed to come into effect as of january 1st. what is missing? no mention about auto tariffs. after the bilateral agreement you had the president answer questions about the usmca and that is the trade deal with canada, mexico and the united states. he did put much of the blame on house speaker nancy pelosi should it not pass through c ....
war. david: what can opec do about it? i will put a chart that illustrates what you ve been saying. outlook is down, normally that would drive prices up, but now prices coming down. that points out it is the main issue. opec cannot do much about that, can they? kevin: helen: absolutely not. saudi arabia has been leading the cuts opec and its allies agreed in terms if the amount they can take off the market. saudi arabia has voluntarily cut much more than a pledge to do. the fact that crude prices in london are around $60 a barrel, well believe the level most opec producers need to balance their budget, there is not a huge amount more they can do. as you mentioned before, prices are reacting to what has been going on in terms of expectations of global economic growth and the slumping equities we have seen recently. this week in particular we ve seen a lot of volatile a couple of days ago there was a 5% drops in crude prices on both sides of the atlantic. both brent a ....