Administration and disney revealing the true villain of its marble universe as earnings disappoint and the stock sags on this wednesday, august 7th. Worldwide exchange begins right now. Afternoon, good evening and welcome from wherever in the world you may be watching. Im Brian Sullivan thanks for joining us on Worldwide Exchange. It is only wednesday, but it already feels like a full week, doesnt it down big on monday half of it gained back basically yesterday. Heres how things look now futures are not giving you help. Look at that, dow futures are up a scant 7 points one of the quietest mornings weve had in a few days. In bonds, the tenyear yield continues to be on the move. Bond yields keep coming down look at that yield 1. 68 . Below 1. 7. That seems very low for us, but consider that nearly 15 trillion worth of Government Debt around the world, countries like japan, germany, france, denmark, they have negative Interest Rates maybe the global race rate to the bottom, three Central Banks today cutting their Interest Rates, new zealand, india and thailand you may not care about those markets, but this could signal the beginning of what could be a global easing cycle among our central bank, the ecb, the bank of china, who knows. A lot of rate cuts taking place around the world in the asian markets, the hang seng look at that. It rose 0. 08 . So why am i highlighting it . That little gain broke a tenday losing streak. The hang seng had been down ten days in a row coming into today. That was the longest losing streak since 1984. The nikkei and shanghai fell fractionally in europe, a bit of a rebound. More grown on the screen with the dax and the cac up 1 . The biggest story outside of stocks and the trade fight is oil. The continued collapse of oil and gas stocks oil falling again yesterday. Oil both here and overseas deeply in bear markets thats slammed oil and oil stocks one of the biggest etfs in the group is the xop the xop is down 12 in a week. Its down more than 48 in a year the average return of a stock on a Company Operating in north dakota is a drop of 64 in a year so why are these stocks collapsing more than the price of oil well do more on that tomorrow and all day on cnbc. Tune in. As we noted, its been a real topsyturvy few trading days for stocks. It all began last wednesday. The feds now infamous utterance about a midcycle adjustment. That sent the dow down 300 points the dow taking another hit on thursday when President Trump said a new round of tariffs will kick in on september 1st and that stole another 280 points from the dow the next day, china retaliated kind of. They had strong words, no hard action, but those words shaved another 100 points off the index. Then came monday oh, monday chinas currency swooned, stocks sold off in a big way. The dow down 767 points, one of the ten biggest point losses ever for that index. Then yesterday, trump calling china a currency manipulator and china did manipulate its currency, but it manipulated by trying to lock it in higher than the market wanted to price it. That helped stocks we regained about half of what we lost on monday. Wow, wild few five days of trading, but thats all in the past the question now is where do we go from here joining us now is david mazza head of product at direction its been a crazy few days, im sure your clients have been taking advantage of it what are they betting on, buying and dumping in all this volatility this has been a crazy week for investors to take advantage and understand where the opportunity in investors are taking action in gold that has been a safe haven investors have flocked there they focused on gold mining stocks those Companies Take gold out of the earth, produce it and sell it to others they tend to have a higher beta to the gold price. Thats one area where we have seen the most interest in other cases its been difficult. Are they buying straight up gold or doing two and three times bullish bets we offer strategies that are leveraged in inverse etfs. So they amplify the price. This is an area where weve been seeing some of the most interest this is three times the price of gold miners up and down. Theyve been aggressive on gold yes any sign of that tapering off . No. With the volatility increasing and things like Energy Prices going down, i think investors may continue to see activity in gold okay. David, sit tight, i want you to listen to this ray dalio came out with new comments on the china trade war last night he compared investing in china now to investing in the British Empire during the Industrial Revolution or during the height of the dutch empire. I believe that china is a competitor of the United States or chinese businesses will be competitors of american businesses and other businesses around the world and that youre going to therefore you want to be, if youre diversified, you want to have bets on both horses in the race are you seeing your clients, dave, make any kind of sizable bets on the Chinese Market not yet not yet yeah. Its difficult to go against ray dalio. Hes giving us a longterm view. Many investors are focused on tactical trading and tactical investing. With some stabilization in the market, that could be the case is there any indication of what people are selling or not buying a big area as you noted is the oil and gas space. Just absolutely decimated hammered. Along with the price of oil. Now oil is in a bear market. The stocks theyre selling off at almost twice the pace of oil. Normally they track with oil the point we were making is that the stocks sold off oil is down 30 this year effectively the stocks are down 60 . Yeah. So theyre dumping it willynilly. Its rare to see versions like this we put together a chart, and this gap is one of the widest on records. Investors, when they see that, they have not stepped in yet a lot of it is the price ofthe companies betting that the oilcn so clients going long and strong gold, not paying attention to china yet and ignoring oil and gas good stuff thanks for having me. Your top corporate story right now is disney an certainly the force not with earnings. Shares are down. And star wars is party to blame. Disney down 3. 2 right now. The company missed analysts estimates by 40 cents. Revenue came in short also of forecasts. Disney is blaming costs related to the integration of foxs entertainment assets which it bought in march. While the company broke records with avengers endgame, that was offset by foxs xmen dark phoenix which flopped. Bob iger addressed the poor performance in an exclusive interview. No, its not more challenging. More costly . Clearly the results of some of the businesses, notably the studio were disappointing to us. I dont know if you consider that more costly i guess thats the right way to put it but we knew in buying these assets which are global in nature and large, significant in nature t nature, it would be complex in terms of integration we were undaunted by it. Disney continues to spend heavily on its direct to consumer or streaming business they expect to report a 9 900 million operating loss in this quarter, wider than estimates. Disney will launch disney plus in november and iger announced subscribers can sign up for 12. 99 a month, thats on participant with netflix and amazon prime also notable, the company says the opening of the star wars galaxys edge area in disneyland cut into attendance at its theme parks, and some guests stayed away because of big crowds nobody goes there anymore, too crowded apparently thank you very much. We are just Getting Started on Worldwide Exchange. China keeping invests on edge. Currency the focus well take you live to beijing. Then new concerns this morning over the safety of the tesla model 3. One government watchdog taking a closer look. And have investors found their match . Well explain when Worldwide Exchange returns. Its show time. Lets cowboy up exhilarating speed. Woo precision control. Woo maximum reliability. Access denied. [ repeats ] access denied. If its not xfinity xfi, its not good enough. For wifi with super powers, get xfinity xfi. And go see, fast furious presents, hobbs shaw. Now playing. After live shot of hong kong not a lot of action there or protesting in hong kong today. In china overnight, the head guy in beijing said that hong kong is facing its most serious crisis since the handover in the late 1990s welcome back heres how your money and investments are setting up for wednesday. Stock futures are quiet. Up a few points, down a few points this is a big difference from what weve seen. The bond market remains a source of action. Bond yields falling once again, seemingly insatiable demand for u. S. Government debt that gets bought yields come down were at 1. 69 on the tenyear going back to china, once again china trade taking a bit of a back seat to the currency market once again Chinas Central Bank taking steps to steady that currency as the world closely watches that key 71 to the dollar level eunice yoon is live with more. Thank you very much beijing continues to send a strong message that it will not use its currency as a weapon in the trade war with the United States, at least not for now the authorities here were managing and guiding the markets in order to hold the level of the yuan up. And just the way the currency works here is that the pboc every morning sets the value at which traders can buy and sell the currency as a way to influence trading. First thing this morning in the mainland Chinese Market, the mid point was set at 6. 999 to the u. S. Dollar. Just a bit stronger than 7 currency reports were saying about how the Chinese State banks were intervening in the markets, both here onshore as well as offshore in order to support the currency this is another standard way in which the government tries to control and influence the value of the currency. This move follows a statement yesterday by the chinese Central Banks vice governor who said china believes its their responsibility to keep the yuan stable so theres been a lot of debate here about what the motivations of china are its becoming clear two days out that the authorities here want to make sure that they dont see their yuan moving in any destabilizing or rapid way has there been indication theres been an impact on Chinese Companies given the wild currency moves well, its definitely boosted confidence among the factory bosses who i talked to they say theyre locked into longterm contracts, so theres not an immediate effect, but theyre happy about the direction of where the currency is going theres been some interesting chatter amongst them when they say that there is reason, economically, for the currency to continue to weaken. So theyre backing up what the government has been saying, this is driven by Market Forces but, you know as well as i do that the government here has a heavy hand in the currency markets, in the stock market, as well as the economy on the whole. So they kind of have a credibility problem when it comes to that line about allowing Market Forces to influence the markets. Thats the weird irony, were labeling china a currency manipulator because the currency drops, but if its being manipulated, its probably being manipulated on the upside, Business Owners there want it to fall and its clear the market wants it to fall yeah. Its funny because on social media there were comments to that effect, that this might have been the one day when the central bank didnt intervene or wasnt manipulating the currency and was allowing it to fall, then they got slapped with this currency manipulator label eunice yoon, always a pleasure see you soon thank you. Still on deck, it has been a rough 2019 for that stock. But is a weight about to be lifted its your mystery chart. Well give you the name and news ahead. And watch out, tesla government watchdogs are reportedly asking questions about the safety of the model three. Key details on the latest tesla twist next hing. But as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. Thankfully, the breakthrough in prevagen helps your brain and actually improves memory. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. Healthier brain. Better life. Theres brushing and theres oralb power brushing. Oralb just cleans better. Its the one inspired by dentists. With the round brush head. Oralbs gentle rounded brush head removes more plaque along the gumline. For cleaner teeth and healthier gums. Oralb. Brush like a pro. They use stamps. Com all the services of the post office only cheaper get a 4week trial plus postage and a digital scale go to stamps. Com tv and never go to the post office again. Good morning, chicago. 4 20 there in the morning. Lets get a check on some of the other big stories. U. S. Safety regulators sending a cease and desist letter to tesla last year over claims it made by the model 3. The national Highway Transportation Safety Administration is citing a blog post saying the model 3 had the lowest probability of injury of any vehicle tested by the agency they say thats inconsistent with guidelines and subpoenaed tesla for more information on several crashes involving that model 3. Match Group Reporting better than expected Second Quarter numbers and forecasting Third Quarter sales above estimates as its popular tinder dating app attracted more users. And shares of ww, Weight Watchers, are surging today. The companys Second Quarter earnings topping forecasts, revenue did come in short. But it is hiking its guidance for the year Weight Watchers says trends improved through the quarter as it saw a positive response to the new spring campaigns straight ahead, we are tracking the global rate race to the bottom three more countries cutting Interest Rates overnight where does that leave us and then the downside of keeping your life savings in a shoe box under the mattress. Literally just wait until you hear what happened to one couple but unlike most news these days, it has a happy ending. Stick around did you know you can save money by using dish soap to clean grease on more than dishes . Try dawn ultra. Dawn is for more than just dishes. With 3x more grease cleaning power per drop, it tackles tough grease on a variety of surfaces. Try dawn ultra. Welcome back its kind of a relatively steady day for stocks dow futures down about 4 points. Perhaps the market wants to take a brief breather after what has been a roller coaster five days of trading lets check on the other top headlines outside of the world of money and business inchewedinginchewed i including a big sign of how jumpy everybody is in the wake of these Mass Shootings. That is the case. Good morning President Trump will try to play the role of consoler in chief as he visits el paso, texas and dayton, ohio he plans to meet with First Responders and system survivors of the Mass Shootings that left 31 dead. He may face a chilly reception given his antiimmigrant rhetoric and washingtons lack of progress on gun laws. Last night chaos unleashed in times square after a motorcycle backfired sparking a stampede witnesses say people were screaming and crawling over each other after confusing the loud sound with a shotgun there were a number of bumps and bruises, but nobody was seriously injured. They say one mans trash is another mans treasure an organ megon man says his wife threw out a shoe box containing 23,000 in cash. By some miracle the money was found 200 miles away at a california recycling facility and still in the box, all but about 60 bucks was recovered and returned brian, whoever took the 60 bucks they said, eh, well leave the other 22,000 well take the 60. Finally a story with some good news. It feels so good to have good news thank you. Dont leave your money in a shoe box either on the other side of this short break, Hedge Fund Billionaire ray dalio comparing china to Industrial Age england. What he said thats got some scratching their heads but first gold doing something it has not done in six years why this year has gold bugs partying like its 1998. Were back after this. My teeth have been feeling really sensitive lately. Well 80 of sensitivity starts at the gum line, so treat sensitivity at the source. New crest gum and sensitivity starts treating sensitivity immediately, at the gum line, for relief within days and wraps your teeth in sensitivity protection. Crest. The bulls trying to battle back after five crazy days of market moves well tell you whats in focus. The u. S. Versus china. Why one well known Hedge Fund Manager is backing beijing. And call me maybe details leaking on the new samsung phone, but get ready to pay up to the tune of nearly 1,100 bucks. Its wednesday, august 7th youre watching Worldwide Exchange on cnbc. You want to hate the song, but its catchy. I mean, i have to admit it welcome back thank you for being with us on cnbc happy wednesday. Im Brian Sullivan it has been a topsyturvy week were only on day three. The dow down 767 points on money. Then up 311 yesterday, getting about half of it back. Heres how things are looking right now. It looks like maybe the market is exhausted, like a boxer in the corner, just taking a seat for a round, not throwing punches. Dow futures are basically flat right now after we have seen multiple hundred point moves nearly every ses