Its worth the risk of a recession to get a big deal done out of control, Jeffrey Gundlach has strong words ahead of this weeks big jackson hole symposium and then tech under fire as well it is wednesday august 21st and Worldwide Exchange begins right now. Good morning here is how your money and the Global Markets are up, the dow will open up around 140 points the s p by about 17 and the nasdaq by around 63. We could get back most of what we lost yesterday. This after the dow and the s p snapped three day win streaks. The nasdaq coming off its first down day in three. The bond market certainly a key focus as well. And the current yield floating below 1. 56 . 1. 59 the last trade there, 1. 539 if you take a look at that yield, its maybe just a bit wider than it was over the course of the past couple of weeks. It is the president front and Center Taking on everything from trade war to the fed to the state of the u. S. Economy. Nbcs tracie potts joins us now from washington. So tracy we can start anywhere lets see what is going on with the economy and the trade war. And also payroll taxes which the white house insisted was not on the table, not one of the things that they were considering to try to boost the economy even though the Washington Post and the New York Times had reported that, the white house said those reports were wrong and then one day later President Trump came out and said, you know, i actually have been thinking about payroll taxes for a long time. Heres what he said. A lot of people have been talking about indexing for many years and its something that i am certainly thinking about. I can say that a majority of people in the white house at the level that does this kind of thing, they like indexing. So its something that im thinking about, payroll taxes, ive been thinking about payroll taxes for a long time. Whether or not we do it now or not is not being done because of recession. So now on the china trade war and the impact that thats having on our economy and certainly on the markets, we saw that last week President Trump saying someone had to take china on despite the fact that economists are now worried that the impact of this trade war is contributing to an economic slow down that could lead to a recession. The president said its about time, whether its good for our country or bad for our country shortterm and dom, thats exactly what economists and investors are concerned about. The slowing economy is happening at a time when things are uncertain with the Federal Reserve and its policies. The president also kind of calling that out as well theres no surprise here he has been very much antifed policy so far. How is that playing out in his current stance he wants them to cut rates and cut them more quickly and more sharply and the president lashing out again at the fed saying that the slow down is their fault because they wont and in association with trading partners in europe saying they will do whatever he wants them to do. Theres been of late a much more rocky relationship when it comes to the u. S. And europe in trade than we have seen in recent years. So whats going to be up next quickly. What are we going to be focussing on today whats on the agenda today what should we be watching now a number of things. The latest controversial comments about yous and democrats that were falling in the wake of him criticizing the democrats he has been talking about. The economy will continue to be a big issue today and moving forward because not only is it a money issue, but its a political issue. President trump wants to ride a Strong Economy into reelection in 2020 but if the economy starts to falter, even more than it already has as economists are predicting, that could pose a political problem for it. The economy is key. Tracie potts, live in washington, thank you for that well, its not just the president calling out the fed, double line capital founder and ceo Jeffrey Gundlach out for strong words for fed chairman jay powell saying his message to the markets including a mid cycle adjustment comment has been inconsistent. The central bank lost control of Interest Rates as evidenced by the federal funds rate trading higher cnbc will have complete coverage of the jackson hole fed symposium starting tomorrow including live interviews with the philly fed president and also the dallas fed president as well a very big week for Central Bank Policy so what should investors do with all of the wide ranging market signals. Joining me now is the managing director and joseph, you heard tracy, politics, wall street, its all converging and its playing out of the markets right now. A massive few weeks of volatility is this still a time right now where investors can feel competent about the markets . Were going through a consolidation period right now as i mentioned last time i was on we were heading into augustseptember which are two traditionally weak months for the market but were just consolidating and digesting. You want to digest and lay on the couch. We had a great gain in the first half of the year and its normal price action to consolidate the gains. Coming out of this in the fourth quarter, im expecting the market to break out of the range. Lets go through that. You have a four pronged approach take us for the fundamental reason why is the growth picture doing better are growing profits doing better fundamental earnings have slowed from last year some of the manufacturing and some of the other sectors have done doing better. Everyone seems to think its going on for too long and its been slow and steady at a 1 to 3 growth rate and it can continue at that level so fundamentals are still strong. We have been flashing a lot of charts for our viewers about market charts or things that you look at as well and you mention technicals they control the market and continue to support the market at key levels. Throughout this entire year, the volume has been strong i Pay Attention to what theyre doing and the volume has been strong and very, very supportive its an interesting statistic that the first half of the year, the First Six Months stocks and bonds were up over 10 thats only happened ten times since 1970 Going Forward six months and 12 months the market has been up on average 11 and 19 . Interest rates, how does that set up now we are in a globally coordinated effort to keep Interest Rates low and markets high a lot of people argue with that and are not happy with it but Interest Rates when theyre slow can justify higher valuations and theres a lot of liquidity out there so its a Good Environment and market friendly for when Interest Rates are low. A couple of seconds here, sentiment, why theres a pattern when the market goes up people get bullish and when the market comes in the interesting part is people rush for the exits very quickly. They think the market has gone on for too long and no one wants 08, 09 to happen again. A lot of topics to cover. Thank you very much. Thanks for having me. Appreciate it. Coming up on the show, tech is under fire. Brian sullivan sits down with the justice departments top antitrust watchdog to get his take on the appetite to take on big tech but first, not their finest moment one retail ceo with choice words for his companys latest performance and then later on, why walmart is taking tesla to court over solar panels. A very busy hour still ahead when Worldwide Exchange returns after this w . W . Uhi . Sono a live shot of chicago about 4 12 00 a. M. Central timeout there in americas heartland. Frank holland joins us with a look at those. Good morning, were talking high end homes, and led lights and reporting better than expected Third Quarter profit on higher home prices shares are up half a percent this morning despite a decline in orders that hints at weaker demand for new homes now Second Quarter profit fell by 35 but they still beat estimates. Sales however for the retailer missed targets same store sales were weaker than expected. The ceo says the quarter will not be remembered as one of the companys finest lower store traffic and underperformance in womens apparel lead to higher mark downs and 4th quarter earnings beat forecast but the First Quarter outlook is still short of wall street estimates the ceo says the u. S. Ban on huawei and softness in the led market will continue to impact the sector in the longterm. Shares down more than 3 this morning. Thank you very much for those checks and stocks on the move. What the justice departments antitrust watchdog told our own Brian Sullivan about the talk to take on facebook, google, and amazon, et cetera. And later on, a life or death crisis the ceo of huawei lays out his battle strategy and plan amid u. S. Pressure on the on going trade war. Thats coming up applebees handcrafted burgers now starting at 7. 99. Now thats eatin good in the neighborhood welcome back, the war on Big Technology rolls on. A number of state attorneys general are looking into the unchecked power of Large TechnologyCompanies Like facebook, amazon and alphabet. The justice departments top antitrust official is sitting down with our own Brian Sullivan saying he has heard from a number of states on the matter and is prepared to cooperate whatever may come, do you feel like you have a Good Relationship with many of these potentially involved states . Would it be a coordinated dove tailed group effort or do you envision that you would have different goals and agendas . I dont think we would again it remains to be scene ee ian gattis pate it would be in a cooperative matter that benefits everybody involved states and their enforcement objectives as well as the parties, making sure that we are engaged in an investigation without creating undue burdens it has been known, you know, ill refer you to the sprint tmobile transaction where some members of the states might go a different direction than some other states and the federal government but thats just part of the challenges when you have 52 enforcement agencies. Some have made that argument. Some also point to china that had three agencies back when they created their antitrust regime in 2008 last year, they streamlined it to have one. And theres something about efficiencies that we care about. It is im not trying to be flip here theres an Important Role for state a. G. S particularly for investigations and matters that specifically effect the local communities but i think it is important for us to constantly review our whole system and see does the current enforcement apparatus continue to make sense . And if it doesnt, policy makers should take a look at that. Youre being very candid. Its an important topic and use the r word i feel like what you guys have right now is a review based on the article based on cnbc reporting they may be ready, willing and or able to get more aggressive based on what you know, do you feel like the states may be looking at a investigation rather than a review potential subpoenas for Big Technology. Consistent with our policy not discussing our internal investigations, i think its safe to say that were all in the same place having had conversations with the state attorneys generals at the federal level and the state ags. I dont think theyre at different stages of investigation. So is there any kind of a time line that you discussed or you can discuss here no. Not that i can discuss. Not that he can discuss for more on brians conversation about the fight against Big Technology head over to cnbc. Com when we come back on this show, we are breaking out the retail scorecard. Were going to tell you the winners, the losers and what to expect for names still on deck to report and then later on you take the red pill, you stay in wonderland and i show you how deep the rabbit hole goes. It is the sequel, 20 years in the making thats bringing Fan Favorites back together again. Its trending. Take the red to blue bipi, icllh ever one you want, when Worldwide Exchange returns after this break memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. With tough food, your dentures may slip and fall. Fixodent ultramax hold gives you the strongest hold ever to lock your dentures. So now you can eat tough food without worry. Fixodent and forget it. That could allow hackers devices into your home. Ys and like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. Welcome back stock futures, theyre pointing to a decently higher open. Dow jones opened up by 140 points as these gains hold into regular trading. Lets get a check on this mornings other top headlines. Francis rivera is live with the latest good morning, francis. Good morning to you serious storms are wreaking havoc across the country watch as these people try to hold down a giant tent in South Carolina it starts to blow away they tried to hold on. One of the men said he was lifted about 20 feet in the air before hitting the side of the building fortunately no one was injured seriously. Meanwhile, the wind was Strong Enough in iowa to flip trucks on the interstate gusts about 70 miles per hour. Once powerful movie mogul Harvey Weinstein wants his trial moved out of manhattan his legal team filed a motion arguing that an impartial jury cannot be found in new york city because of the media coverage. They claim weinsteins name was mentioned online by page 6, the New York Post gossip column more than 11,000 times. A botched pet grooming job has one florida salon in the dog house. Dropped her dog off at the pet spa for a simple hair cut. Look what you got. Green eyebrows when she came back the owner suggests it was to cover up a bad shave job the pet spa refunded the cost of the makeover but as of now they have not faded just yet. Back to you. They will im not sure how long it takes to come out. Francis rivera thank you for that we appreciate it still to come on the show, one bank in denmark is paying people to take out loans to buy their next home and our next guest says it could actually happen in america too. And then later on rangebound or poised for a breakout . Where one Global Portfolio manager is putting his money when Worldwide Exchange returns right after this we call it the mother standard of care. Its how we care for our patients like job. His team at ctca treated his cancer and side effects. So job can stay strong for his family. Cancer Treatment Centers of america. Appointments available now. Canc r tdid you know you centers of amecan save money by using dish soap to clean grease on more than dishes . Using multiple cleaners on grease can be expensive, and sometimes ineffective. For better value, tackle grease with dawn ultra. Dawn is for more than just dishes. It provides 3x more grease cleaning power per drop, which cuts through tough kitchen messes, pretreats laundry stains, and even tackles grease buildup on car rims. Tackle tough greasy messes around your home, and save money with dawn ultra. Brand power. Helping you better. Stocks close down yesterday for the first time in four sessions a life or death crisis thats what huawei ceo says the Company Faces in its battle with the u. S. Government and attention matrix fans, theres new details on a fourth installment in the new blockbuster. A game changer for that genere its wednesday, august 21st, youre watching Worldwide Exchange on cnbc welcome back to the show this morning, heres how you and your money are shaping upright now as we are halfway through the 5 00 a. M. Hour in new york stock futures pointing to a decent hawaiiiigher open the dow jones would open up 140 points up if these futures hold and the nasdaq up by about 61. On the bond side of things, were seeing a slight up tick in yields across various parts of the u. S. Curve including the ten year note yield which is 1. 593 . The ten year note yield 1. 543 separating the two measures of Interest Rates lets check the asian markets. It was a mixed picture there we did see some movement off by about one quarter of 4 . The hang seng up about. 1 and just about flat on the day on the europeans side of things, a higher start to the day there. The german dax up 1 and the ftse 100 in the u. K. Up by 1 as well well, the consumer is a key focus this week in the United States with a number of big retailers reporting their quarterly results. Courtney reagan joins us now with a sector scorecard. You can argue its the most important sector out there. I like to argue that. Because it is the driving force behind the u. S. Economy. 70 of Economic Activity is tied to the consumer but it still takes more than a strong u. S. Consumer so have a good quarter for a u. S. Retailer. Theres a number of retailers left to report including target, nordstrom, but its been a mixed bag despite executives pointing to a healthy u. S. Consumer walmart putting up the strongest report so far beatin