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tv   Worldwide Exchange  CNBC  November 7, 2017 5:00am-6:00am EST

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rally on, stock eggs pointing to another higher open on wall street with the dow, nasdaq and s&p 500 sitting at record highs on the front lines, president trump on north korea's doorstep this morning he's meeting with the president of south korea we've got a live report from seoul coming up. and big buzz in the media world has disney reportedly held talk toes buy most of the 21st century fox. we'll have the latest on that coming up. it's tuesday, november 7, 2017 "worldwide exchange" begins right now.
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good morning and a very warm welcome to "worldwide exchange." let's get straight to the global markets the this morning futures pointing higher as you can see behind me. this nothing too significant at this hour, but a nice jump for the dow there. 40 points or so. only a point or so of gains for the s&p 500 and the nasdaq it comes off a day of gains, but very, very slight indeed for the dow and the s&p. the nasdaq led the charge, but it itself was only .3% higher or so ten-year treasury note for you that has seen yields continue to slip over past the past day or so we're up again a little bit today. yesterday we hit lows of 2.31% on the ten year. asian equities, we'll have a live report from seoul on what president trump's visit there is doing, but today, we're seeing a rally and things like the nikkei, because of a stronger
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dollar, the nikkei, it's up nearly 2% .gains for hong kong, as well. korea slightly lower european trade is sort of mixed. yesterday it wasfractionally lower. the stand out positive performance today, the energy stocks like bp, shell, total, they're up after a big share in oil prices let's get to the broader markets. oil prices, a nice jump yesterday. some 3% or so coming late in the session. that saudi "game of thrones" story pushing prices higher. today we're coming back off that a little bit but as i said, off the back of 3% gains of wti yesterday. down slightly today, but we are nicely about $57 the dollar having a little bit ooh jump today around about .5% for the gains of the dollar against the euro and the yen
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gold prices just to round things off, reremain down 0.4%, 12% off the price of gold. president trump continuing his talk through asia. he's in south korea at this hour talking trade and if the the north korean threat. let's get out to kayla tausche good morning, wilfred. it's a relatively short visit for the president, just about 24 hours on the ground here in seoul meeting with president moon and the contemporaries in this region. but the two showed quite a camaraderie as they visited a military base near where the president landed this morning. and then had a bilateral meeting this afternoon the third that the two gentlemen have had since president moon
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came into office they talked about how they would work together to neutralize north korea. here is what the two countries announced this afternoon president moon said they would lift the payload limit on korean missiles, they would continue reasonable defense cost sharing between the two countries and that they would consult on purchases of u.s. military equipment. when asked to provide additional details about exactly what that purchase would entail and whether it includes a ramping up, president moon declined to answer that, but president trump stepped up to the plate. here is what he said >> we make the greatest military equipment in the world, whether it's planes, whether it's missiles, no matter what it is we have the greatest military equipment in the world and south korea will be ordering
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billions of dollars of that equipment which for them frankly means a lot of sense and for us it means jobs, it means reducing our trade deficit with south korea. >> so the second time in as many days that the president's counterpart was asked about new military equipment purchase from the u.s., that leader declined to answer. the president took it upon himself to tout the u.s.'s capabilities there and future deals and future jobs for the u.s. one other point of note that will be important for those watching the economy of south korea, the two countries afou announced that they would expedite renegotiations for that 5-year-old free trade agreement. previously the president and his more hawkish allies within the white house had been thought to be seeking a withdraw from that pact this is certainly much different from that. we'll be looking for more details on exactly what that will entail. that's big news for companies with who operate in this region. >> it is, indeed, cakayla.
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the trade deficit with south korea is not as significant as, say, when he gets to china where we know it will certainly be on the agenda he did seem to suggest or point to the fact that conversations are getting a bit better is that fair to say? >> that's more than fair to say, wilfred. we saw a very sober president trump where he was not reaching for that more colorful language that he's used to describe the regime in the past he was talking about north korea as a dictatorship. he was talking about the need for them to protect their people, come to the table and make a good deal that's good for their people and good for the world. when he was pressed about those diplomatic conversations, he said yes, it's fair to say we are making progress there. that's the first time that we've actually heard the administration not only say that they're are diplomatic talks happening, but say that they are
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progressing. he said a military option was the last option in this case snasho at this point and, of course, just a couple of months ago, he said the military option was locked and loaded so it's quite a hard turn for the president and it seems like he's trying to de-escalate the threat at this point >> remind us where and when next for the president. >> so the president, tomorrow morning time here in asia, will be heading to beijing. he'll have a series of corporate, commercial and cultural events with president xi and a delegation there and two days of talks in beijing >> this no doubt, that will be the most important u.s. china for summit in some time particularly following president xi's powerful reappointment as president. kayla, thank you very much we look forward to ongoing coverage throughout the day. now to today's wall street agenda, there's one report on the economic front september consumer credit will be out at 3:00 p.m. eastern.
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randy is making his first public speech today since being confirmed as the new u.s. fed governor it's something many analysts will be focused on to see what he's been focused on as for earnings, royal caribbean and tapestry report before the opening. marriott and snap are on out after the close. in corporate news, there's big buzz in the media world after david faber reported disney held talks to buy some or most of 21st century fox landon jones us now to summarize that >> those talks have taken place over the past two weeks. the two companies are not currently holding discussions, though, but given the on again/off again nature of the talks, they can be revisited and the deal could create a powerhouse the in media, giving
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disney more cable assets and another movie studio and significant international exposure, including fox's part-ownership in sky. fox would primarily focus on news and sports. the conversations come as the media landscape has seen a tremendous change thanks to companies like amazon, netflix and google transforming the way people consume digital content a deal could help both disney and fox. both stocks soared yesterday we've got fox off slightly and disney up about 1 %, wilf, in early trading sfwlp than. >> landon, thanks for that we're going to bring up sky prices in london that is slicely 2% today, after no news that a possible conversation talks with nisdisny
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down 1.6% now you. recovered a lot bit. other stocks to watch today, sales force is entering a partnership with google's cloud platform gsweep. the deal integrates sales force with google analytics. sheer what mark bennioff told jim cramer last night. >> you look to google. you see this incredible world of information. you see the advertising, but you also getting google analytics. that coupled with sales forces, sales and service and marketing means both of our customers are going to have customer insights that they've never had before. that is really exciting. >> sales force issuing up guidance for 2019 forecasting a revenue jump of up to 20%. up 2.5% as you can see in the remarket toyota lifting its annual forecast despite key markets, feeling the pressure of competition, it's up fractionally in the nikkei >> shares of priceline fall on
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fourth quarter guidance. down 11% this morning. still ahead, throwing in the towel. egypt's president says he will not seek re-election more of his exclusive comments to cnbc. plus, we're on oil watch k around "worldwide exchange" continues in just a couple of minutes. me. ambitions live everywhere. synchrony financial gives people the buying power and financial toolsthat help make them happen. synchrony financial. what are you working forward to?
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today, that's changing down higher by 31 points, the s&p 500 by half, the naz dak just slipped below the flat line in the last ten minutes or so but essentially its flat itself. oil prices jumped nicely about 3%, largely because of the news out of saudi arabia which we'll discuss in a moment. but today, as you can see, pulling back fractionally on the international gauge. 57.34 oil has had a fantastic run of late. turning to news overseas, egypt's president says he will fought seek re-election. he mads those comments in an exclusive interview with cnbc. let's get to hadley gamble live in cairo with more hadley hey, good morning, wilfred so in the 3 1/2 years since sisi
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came to power, he's medication r managed to return egypt to a broad-based recovery but many egyptians say he hasn't moved fast enough. i asked him his plans for the future let's listen in. >> i am with preserving two four-year terms and not to change it. if there is any change to the constitution, if it is needed, and i'm not talking about the terms. i am saying that we have a new constitution now and we are working on making new laws to abide by the country of egypt. i am not for any amendment to be made to the constitution in this period >> he's saying he is going to run for re-election in the coming months, you about he will not seek a third term. this has broader implications. outline, the corruption crackdown has been big news across the world, but something
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that seems to be happying even more so now is the switch in the foreign policy, talking more and more b, raising that rhetoric against iran i asked the president to weigh in let's listen >> the subject is not about taking on or not taking on it's about the status of the fragile stability in the region in light of the unrest facing the region in countries like iraq, syria, libya, yemen, somalia and others we want to increase stability, not have more instability. >> so this is president sisi of egypt essentially telling his allies that it's too soon to move on to hezbollah with, basically saying this region can't take more of this. wilfred. >> hadley, thank you very much for that an important clarification on our point, he is seeking a
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second term. peter, good morning to you i don't really know where to start on this story, but i think i'll start on the fact of how significant is it that president trump so clearly endorsed the actions of the saudi royal family over the weekend? >> he think it's very significant. not only do you have trump tweeting out overnight that he backs the crown prince who initiated this crackdown, but you've had a series of meetings over the months. jared kushner trying to saudi arabia so you've had an implicit crackdown, seemingly on this stance with iran which president sisi just talked about if you have an emboldened saudi looking to become much more aggressive with iran directly, but with its allies in yemen, in
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lebanon, that is, as sisi said, a real recipe for even more stabilization in a region that has plenty and is i think that's why we've seen oil in particular it's really risen sharply over the last 24 hours. >> so it's bad for iran, potentially. we've also seen the uae come out very quickly to support the actions of mbs so that's bad for qatar. is that fair to say? >> yes, itis uae has tightened their news although frankly the effort to embargo qatar has not been hugely successful. qatar airways just made a bid. they've been able to function in the global economy despite the efforts of the saudis and its gulf ally toes corner the qatarrys because of their tie toes iran, as well it all comes back to this saudi
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arabian rivalry. so he's frustrated that his war in yemen is not going well, his embargo of qatar is not going well so he's ramping up closer to home >> clearly the oil price rising is something that happens, but if the royal treats family members like this, what does the message send to foreign investors about how they're going to treat minority shareholders >> i think this is a story we're going to look at closely going forward. basically, thought the golf was a stable region with a lot of oil wells. not only has the ipo been sort of new england and london fighting over this, but you've had a huge number of bond issuans by all the gulfys. you've had kuwait, abu dhabi, you've had a huge number of -- aer record amount of debt
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issuance and with all the qe going on in europe and the u.s. and britain, you've seen shipping to the bonds particularly in the gulf and they thought this was a safety investment suddenly, people are having second thoughts about whether these huge bond offerings were quite as smart as they thought they were just last week we could see an impact particularly in the middle east. today i think in particular but over the coming weeks as this instability begin toes play out. >> peter, final question on the uk government, all sorts of pressures mounting on theresa may. would you say today the pressure on the government pointing to a potential breakdown is greater than it ever has been since the june election? >> well, i don't know if we're heading to a breakdown, but frankly, it's embarrassing we have a cabinet meeting today where as you say, about half the cabinet is under some sort of controversy that in normal
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circumstances, they would be sacked you had one prime minister who flew and had a meeting without telling anyone about it. you have accusations of sexual harassment from various members of the cabinet any one of these scandals would have led a normal prime minister to sack a prime minister for these allegations. but because her support is so thin, she can't afford to do that right mow frankly, i think we're at a breaking point but we've been at this breaking point for several weeks and she can't afford to lose members and her quote/unquote coalition partners, the northern irish who have agreed to back her government with their ten votes, they don't want to see this track up, either, because that would mean jeremy corbyn in northern ireland so it is a complete mess but right now, still to this
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moment, it looks like she has a better chance of surviving or not. solo it has not scandal after scandal after scandal in that cabinet room, i don't think she is that close to a xlut collapse because there's nowhere else to go for the tories. >> peter, thanks very much for joining us stell ahead, weight watchers pops still ahead, here is the weather forecast tracking rain on this election day, we have to watch the governor's races in new jersey and virginia we will get wet weather in those areas. thankfully no snow or ice. we're tracking the rain as we go throughout this morning at 7:00 a.m. much of west virginia, western portions of virginia and the rain, it threw in the knoxville area and areas of eastern tennessee. as far as this afternoon, this is the lunch hour. rain beginning to move into washington, d.c. much of the state of virginia getting encompassed into the light rain you could even see some wet
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snowflakes today in areas of central pennsylvania by 5:00 p.m., that's when the steadiest rains will be over d.c. or philadelphia we could have late afternoon airport delays in this region and boston will get light rain teon tonight rainfall amounts aren't too bad. much of the country looks fine four your business travel forecast more "worldwide exchange" when we come back i love you, couch. you give us comfort. and we give you bare feet, backsweat, and gordo's... everything. i love you, but sometimes you stink. soft surfaces trap odors. febreze fabric refresher
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welcome back to "worldwide exchange." let's give you a global market update strong session in asia led by
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the nikkei once again. that's in part because the yen is weaker. there was some soft wage data out of japan this morning. nikkei is up and it's dragged some of the other markets higher, as well. europe mixed session comes off a slightly positive session yesterday as you can see there germany is slightly higher, the uk in france slightly lower. energy stocks are outperforming following yesterday's 3% jump. just positive net-net overall with the dow and the s&p higher. the nasdaq is just below the flat line this morning among today's stocks to november on, tripadviser. the travel site generates revenue from advertising has been struggling with a faster than expected shift towards mobile devices it's down 9%
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the company is cutting its full year earnings outlook. the impact of three hurricanes to hit the u.s. and puerto rico in august and september. weight watchers third quarter results beat its third quarter outlook. the stock, trading at a record high has nearly quadrupled this year and it's up another 12.5% this morning still to come, top stories and roundup of the global action eangisa snapchat slowdown, brki h twitter silence to set the record straight. stay tuned all of that and much more coming up on "worldwide exchange. it's great to finally meet you.
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rally, triple play dow futures pointing to a higher open after record highs yesterday. president trump is in south korea talking trade and the north korea threat we've got a live report from the region, coming up. and is a mega media merger in the works disney reportedly holding talks to buy 21st century fox. it's tuesday, november 7th, and you're watching "worldwide exchange" on cnbc. ♪ don't believe me just watch ♪ come on >> a very good morning to you and a warm welcome to cnbc let's get straight to the global market picture this morning. we just turned fractionally south. the nasdaq and s&p 500 just
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jumped again we are essentially flat. dow higher by about 31 points. s&p and nasdaq moving between red and green at this stage. we did get gains yesterday the nasdaq was up .3%. treasury hit 2.31% yesterday but 2.33, we are lower than we were a week or so ago when we were at the mid 2.4 level. asian equities, a strong session. slightly softer than expected wage data out of japan that softened the yen and allowed the nikkei to rally once again. it's been on a real tear of late up 1.7%. hong kong shanghai nicely higher, as well. european trade is mixed at this hour the energy names doing very well there, enjoying that oil price jump that we saw during the second half of trade yesterday but the broader incidentsies pretty much mixed to down.
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based on that saudi story over the weekend, creating pressure across the region, today, though, oil is just giving back some of the those gains, but only .2% or so oil price this morning, 57.2 let's have a look at the dollar board. the yen, as i said, softer and allowing the dollar to rally it's rallied nicely against the euro, as well. about .15% of gains. the pound is down, but .2%, some disappointing retail sales out of the uk this morning gold prices, slipping about .4% or so this morning the price is 12.76 joining me now to discuss the market outlook, tally. >> good morning, sir >> and let's start with this story yesterday. are we going to see renewed pressure that could see this amazing oil run continue longer? >> i think there is a supply
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side tailwind to the recent increase in oil prices you've got more consolidated power to the leadership in saudi arabia that was supporting opec production cuts. but, you know, look, i've been on the show before and i've talked about the demand side of the equation, which we can't forget there has been a stealth rally in crude oil prices since the beginning of last summer oil prices bobbing around june and they've steadily increased i think it's all predicated on this strong now synchronized global growth dynamic which i think is helping keep oil prices -- >> and certainly the net data on out of the rest of the world over the course of the last six months has been very encouraging. has that now been priced into international equity markets a lot of people at the start of the year calling for dispose your to european secretaries, for example, has that been priced in easy gains in europe and asia been made already >> look, i would say it's priced in it's valuations for those countries and regions were stretched relative to some of
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the more expensive equity regions and market segments like the u.s. but that's simply not the case on that basis, i think we have a lot more up side to go this is a week where the economic calendar is pretty devoid of any major news so i think investors can take a step back and realize, we've got these conditions of strong global growth, low -- historically low inflation and a pretty clear monetary policy outlook. and in terms of the earnings season, still clearly 30 or so, 35 companies to report on the s&p 500 the rest of this week, but we have passed the bulk of it has that been sufficient for the valuations >> i think so. look, in the very near term, valuations are not timing tools. and stocks, as we've seen, can continue to get expensive as long as earnings and economic growth are moving in the right direction. and they are >> and in terms of the dollar, clearly we had a weak dollar for most of the year that's been good for the
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international companies listed stateside. s has started to pick up again recently is that something of a concern to you or are we at levels that aren't too worrying? >> well, you're right. we've seen about a month or two bounce in the dollar but i have to say, i think it's really much more of a technical bounce in prices, not something fundamental that is going to last i don't think that this recent bounce is going to last. >> tally, thanks so much for joining me this morning. great to see you >> thank you to our top corporate story now, businessny reportedly held talk toes buy most of 21st century fox. sources tell david faber the discussions have taken place over the last two weeks. the two sides not currently in the midst of those talks, though joining us now on the krn news line is ivan great to speak to you this morning. fascinating story that david faber broke for cnbc yesterday let's start first of all with the disney side of the equation. if this all were come to pass,
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would this be a great move for disney given their plans to launch their stand alone over the top service in the coming years? >> well, disney needs a new catalyst unfortunately, the stock peaked almost two years ago and the market is up significantly in disney has trailed it so they need a catalyst and they are win of the best creators of content. so the more content they have and they can continue to produce, then they can create their own streaming services and increase the number of channels in their presence. i believe conthe tent is king and that could away big driver for disthee. >> clearly, the market liked that disney rose a little bit yesterday. it's rising in the premarket today. let's talk about the topside side of the equation it's somewhat of a turn around in the typical murdoch-type
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strategy >> i believe the murdochs are focused on news and it almost makes sense that they would sell their entertainment content to somebody like disney and then they could focus on their new content. >> what does it mean for sky does it suggest the ability for fox to get ta deal over the line to buy the remaining 61% of sky they don't own is now pointing to the uk regulators suggesting it's not going to go through >> i mean, i believe it could help the fact. most times when you make a large acquisition, regulators want you to divest of some properties so this would also make sense. >> okay. and let's talk about hulu, as well that's a platform that's owned a third, a third, a third by various media companies. do you think that's part of disney's consideration, that they would now want to own two-thirds of that >> yes i think the streaming services are of big interest to consumers and how people watch content and what they subscribe to has been changing and that has somewhat
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been hurting disney. so i think they want to go in a new direction and that this could help them. >> what do you think the other media giants and even the telcos, as well, would be thinking this morning as the story has broken, particularly the fact that the conversations aren't quite going on today, but they have been do you think suddenly other media companies and telcos are thinking i want a piece of that and people could become interested in fox from other sources? >> yes i mean, this is still why at&t wants to buy time warner the telc on os or distribution channels, they need content. without content, you would be staring at a blank screen. this could put a lot of other media companies into play, as well >> ivan, thank you for joining us time now for our top trending stories good morning, landon >> good morning. snapxhat's ceo evan spiegel bringing a two-year twitter
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hiatus to shoot down a rumor about his company. that with a claim that snapchat is shutting down next week spiegel taking to twitter last night to call that report, quote he, fake news. >> it's kind of nice to twitter that he had to take to a rival platform >> after two years >> also of note, he's very trendy fake news is the word of 2017 and taking a queue from trump there. here is something else tiffany lauren ago line of everyday objects with without of this world prices. it includes a $350 rose gold straw, a $600 first aid kid, a $425 protractor and a $9,000 ball of yarn the luxury retailer is selling a sterling silver bird's nest with tiffany blue bores lan egg for a whooping 10 grand. >> wow even though it wasn't the most expensive of the items you just showed us, i think the protractor is the most stupid of all those. >> the ball of yarn?
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>> no, but a protractor. that is the most stupid idea i've heard >> typically they're thrown for their fashion and designer jewelry, the keys and the hard chains, the little blue box. >> i spend a lot of time buying these types of things. kim and kanye making big bucks on their home, selling their bell air estate for $7.2 million after buying it for $9 million back in 2013 tmz says this is the most expensive sale ever in the exclusive community. wow. the most expensive surely we've hit some -- >> in this community this suppress teejus community in los angeles i don't know if you've ever been it's beautiful >> it's rising 6% every year, it seems. >> they buy a lot of homes and they move so much. just last week, kendall baul bought an 8.5 million house. >> they probably have a little
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show they should branch out on the show and have a property show, as well. >> they're clearly doing something right. landon, thank you so much. switching to sports, the detroit lions traveled to green bay to face the packers on the lions first drive, quarterback matthew stafford threw a 25-yard touchdown pass it was the 200th of his career, making him one of the youngest players to reach that mark the lions beat the packers, 30-17. president trump continuing with his tour of asia this morning, but also talking about the u.s. economy, stocks and tax cuts he just tweeted a moment ago he said stock market hit another all-time record high yesterday there is great confidence in the move that my administration is making, working very hard on tax cuts for the middle class, companies and jobs so he is continuing his focus on the domestic agenda, of course, while he's there and able to tweet some questions of whether he'll be able to when he gets to china where twitter
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is not permitted but maybe he'll find a way around that. maybe president xi will make an exception just for him to keep the tone positive ahead of their crucial meetings there, we will discuss that and much more still ahead here on "worldwide exchange. next stop, of course, for president trump is china we'll have a live report from there after this short break as we go to break, lk ooat currencies the dollar is up about .5% against the yen and the euro your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember.
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welcome back to "worldwide exchange." if you're just waking up, let's get you up to speed on the market action. u.s. equity futures have been up and down in the flat line. s&p is higher, the dow is up 35 points or so comes off record highs again yesterday, albeit the gains yesterday very small it is day three of president trump's 12-day trip through asia he's in south korea right now and will travel to china tomorrow to meet it his counterpart. eunice is live in beijing with more on the president's upcoming visit to china good morning good morning, will tread the chinese government is promoting president trump's trip as a state visit plus. and just a couple of hours ago, the foreign ministry said president trump is going to enjoy the same lavish dinners, the pomp and circumstance, the welcoming ceremony as with any state visit, but that the shorts
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here are going to add some personal touches, some cozy and casual meetings. on the agenda will be north korea as well as trade and chinese and u.s. officials have both said that the focus is going to be on addressing the trade deficit. and just based on the delegation that's coming out, we're expecting to hear announcements and deals in the billions of dollars on energy, agricultural products, planes and other equipment. goldman sachs's ceo is traveling with the american president and there's an expectation that goldman sachs is going to announce a partnership with cic, the chinese sovereign wealth group for a $5 billion coinvestment fund that would be investing into american manufacturing. many in the american business community who i've been speaking to says all these deals and deliverables are well and good, but they're concerned that they could become a distraction to some of the larger issues that
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many american businesses feel are really, really important such as market access as well as competition in the future of other industries, like i.t tech transfers, those types of issues back to you, wilfred >> eunice, i'm interested in the way you framed this at the top that the chinese state media is trying to say that it's a significant trip by the president. of course, it comes so soon after president trump was pretty anti-china on the campaign trail just a year or so ago. are we now framing the relationship between president xi and president trump as perhaps the strongest china-u.s. relationship that we've seen in decades? >> well, it looks as though the chinese and state media is trying to paint this in a very positive light we've been seeing a lot of state media reports about how the two have very close friends, there's been a lot of emphasis on that personal relationship and building the ties. the foreign ministry said that this is reciprocity. he used the word reciprocity for
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agreement that president xi enjoyed and the special arrangement, they said, for the mar-a-lago visit so there's a lot of emphasis on the personal relationship the the two had. i think what's interesting is president trump is meeting president xi at a time when president xi is arguably at his height of power. so there's been some people within the american business community here who have been concerned that that might mean that president xi would have the upper hand, but will fred, i did want to point out one thing that happened at the foreign ministry meeting which is pretty entertaining and it shows that the chinese are taking a page from president trump's book. one of the reporters asked the foreign ministry whether or not there would be western food on the menu or clean ice food on the menu and the officers said they didn't want to spoil the suspension >> there we go he is going to be able to tweet while he's there, the president? >> yes most likely because he, i'm presuming, has an international roaming service on his phone
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so if you have an international roaming service, you can acces that so he should be able to tweet. not so sure if the chinese will be able to do that but he could face something that's off the script. >> great still ahead here on "worldwide excng" a xed hae,mi open on wall street as earnings take a seat once again we're back with a preview. jimmy's gotten used to his whole room smelling like sweaty odors.
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suite, two supporters expand expanding global interface here is what salesforce's ceo told jim cramer last night >> you look to google, you see this incredible world of information. you see the advertising, but you also get the google analytics. google analytics coupled with salesforce's sales and service and marketing means that both of our customers are going to have customer insights that they've never had before that is really exciting. >> salesforce issuing up beat guidance for 2019, forecasting a revenue jump up 22%. it's up 2.5% in the premarket. toyota sup .2% in japan today, the rest of the nikkei up more than that. priceline, shares are up 30% so far this year, though down 11%
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this morning turning to today's wall street agenda, it's a light day ahead fed chair janet yellen is speaking this afternoon at an awards ceremony in washington and randy is making his first public speech today since being confirm as the new fed governor and vice chair of banks supervisor banks analysts will be looking at that. earnings report before the open, snap enc and tapestry. once the results are out, adp's ceo will join cnbc live that, of course, will be something many people are focused on. let's have a look at futures, just a mixed picture this morning. s&p 500 fractionally lower, dow lower, as well
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bruce kasman joins me, managing director of research at j morgan bruce, good morning to you let's focus on the outlook here. the data appears to be strong apart from the intlagz data. >> well, i think the basic story is we're getting very solid growth both in the u.s. and globally we're not seeing it show up in core intlagz there is an inflation rise coming and it's through energy and food prices as we're movinging through the latter part of the year but we're seeing what i think is a pretty positive environment because we're seeing strong growth we're not seeing it put preb your on inflation. that's really causing the fed a concern of any size and we're not seeing et putting upward pressure on wages that's really shutting off the profit recovery so it's kind of a goldie locks situation we're in right now >> despite your view that we're not seeing inflation put too much pressure on central banks, do you think the fed will have to to start playing catch up next year and have to start increasing rates faster than it
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was in the prior 18 months >> the other part of the story we have to focus on is the fact that labor markets keep tightening but across the major advanced economies. i think where policy stances align with that does suggest you have work to do. we think the fed will tighten in december we actually think the fed is going to be the tightening four times in 2018. >> so that would seem a significant increase in short-term yields. do you think you would be a flattening of the yield curve in that light or will outgrowth pick up sufficiently to allow the yield cup steepen a little >> we have a flattening in the curve. we don't have a significant enough inflation problem we don't believe that the unwinding of the balance sheet particularly against the back drop of what's happening outside the u.s. is going to put that much upward pressure on yields >> what is that back drop for outside the u.s. are we going to see significant tightening begin anywhere else of the big developed central banks? >> short answer is no. the ecb isn't on the move and
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doesn't look like it's going to be for a long time the bank of japan is not doing anything the bank of england may move slightly here, but, really, we have a situation where i think most of the action is happening on the edges, the bank of canada, a few of the smaller central banks are going to be on the move so the fed are going to be moving here, but it's not a story of a generalized tightening and monetary policy >> the fact a that we see policy so loose there in places like europe and japan, does that suggest the growth we're seeing there is less encouraging than the growth we're seeing in the u.s. where clearly it has continued despite some tightening >> no, i actually think -- sorry. >> though, go ahead. >> i think growth there is pretty strong. and in some ways, in fact, more impressive than what we're seeing in the u.s. but we are in a world in which these economies are far behind the u.s. is where they are in their cycle. they have problems that inflation has been low for so long, that there's an issue around inflation expectations. so i think we're in a position where they're behind us and the cyclical position on inflation,
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but they are clearly with us in terms of strong growth >> bruce, thanks so much for joining me this morning. bruce cassman of jorn.pmga that is it for "worldwide exchange" this morning futures mixed, the dow slightly higher, s&p is around flat and the nasdaq is a little lower
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good morning the rally rolling on, stocks pointing to another higher open on wall street with the dow, nasdaq and s&p 500 all sitting at record highes president trump is meeting with the president of south korea and big buzz in the media world after disney reportedly held talks to buy more of 21st century fox. we'll have the latest and what
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could possibly be coming up on this tuesday, november 7th, 017 as "squawk box" begins right now. ♪ live from new york where business never sleeps, this is "squawk box. good morning, everybody. welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. let's take a look at the u.s. equity futures this morning. as joe mentioned, closing at record highs for all three of the major indices yesterday. guys, it is now 57 times this year that the dow has closed at a record high. 52 times for the s&p 500 if we close today at another record high 53 times, that would tie thor record number we saw in 2014 for all of 2014 it was


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