Looking to go public but dont expect profits any time soon lets forget the trade war, shall we were going to tell you about it without trying to ruffle any feathers Worldwide Exchange starts now. Your radio may be on. Maybe youre driving to work welcome for wherefo ever in the world youre watching. Futures right now are not giving us a lot of indication about which way this market is going to go in what has been a very volatile month for stocks. We are down exactly 0. 9 right now but not to take anything away from this fine program, well see if that turns around yesterday another rough day for stocks the dow falling 155 points right now. 0. 4 and yes stocks getting the attention they deserve but bonds continue to be the bigger story. Really the big money story the benchmark ten year note yielding 1. 47 which is below this which means we continue our inversion. The difference between the twos and the tens by the way, now the largest in 12 years. It is not just the ten year. The yield on the 30 yearlong bond also hitting an all time record low and doing Something Else very rare were going to tell you what that is coming up in your morning rbi. Random but interesting around the world, the asian markets mirroring us nikkei up nothing and in the european markets a similar story here we are mixed with the ftse and the u. K. Up. 3 . Heres a global look at commodities and currencies oil up after rising more than 2 yesterday. Were up 1. 5 to 5572 you have inventories in the United States coming down again despite near record u. S. Production particularly for the basin in texas gold, thats what we were talking about at the opening gold is the best performing major asset class this month gold is down a little bit now but gold is up 8 in the month of august. Up 21 in just 90 days look at that run who would have thunk it . Gold let us dive into more of the markets and what has been a very volatile month is there any place to keep your money from keeping you awake at night . Rob morgan is the chief Investment Officer and joins us now. We get all the stories right . So the swings can be bigger. This month feels a little bit different. Maybe a little bit more serious than just the dog days of august if you will. Where are you advising clients to put their money if anywhere besides under the mattress that can avoid or protect against some of this volatility . Owe opened the show talking about the yield curve. The longer it stays that way, thats a troubling sign but one thing that we dont know this go around is what has been the impact of the Global Quantitative easing in im not yet ready to throw in the towel on stocks. Other analysts are saying Earnings Growth will accelerate this year. Its been lowsy this year. Ill stick with an overweight on stocks this year and we can get into the various sectors that id like here as well. The bond market as it pertains to stocks and i see all the headlines. I get it im a cnbc viewer as well as a cnbc host. You know in the bond market you can look at it two ways and say okay, wow, that inversion is predicting a recession, everything is doomed or like bonds have just gotten added and it makes a, stocks more attractive and b, possible for companies to refinance their debt and buy back more of their stocks and make a more optimistic case for the equity market absolutely. And i would add that on about quantitative easing. Its not a done deal that a recession is going to happen in 18 to 24 months like an inverted yield curve often projects and its not 100 accurate so youre certainlthat the equities coulde to do well in the foreseeable future. Is big cap the biggest cap . The dividend players, the safest place to be . Yes, heres why with the fed pivot thats happened over the last six months and obviously the fed taking a rates down approach, thats probably going to judge the dollar down going forward, not in a big way but well see a downward bias there and a dollar thats going down tends to put a boost into the big cap multinationals and also for u. S. Investors overseas this is a time to overweight that as well. Why do you think thats a good deal especially given the low yields well, you pointed out the sector has been one of the real losers here in august and i think partly along with financials i like Consumer Staples and technology i think the selling has been overdone in financials i think there is some visible Earnings Growth. Valuations are attractive with all the overselling going on eight financials here. Recession in the next 12 ri chance the longer the inversion stays in place and the deeper it gets, that would go up in my mind but id say 20 chance right now. Rob morgan. Rob, we appreciate your views as always thank you very much. Thanks a lot, brian. Meantime, your top corporate story on this wednesday is an ipo watch. This as peloton the maker of the high end Fitness Equipment files for its offering and also reveals some staggering losses were joined now with more. Good morning. Peloton is moving ahead with its ipo plans and the investors appetite for the high end fitness market theyre seeking to raise a 500 million although the number is likely to change its going to list on the nasdaq under the sticker symbol pton. The company will sell class a shares to the public which carry one vote each while holders of Class B Shares will have 20 each it was founded in 2012 and its posted losses every year since then and the year ended in june, the companys losses more than quadruple to 200 million. Revenue more than double to 915 million. Sales of Fitness Equipment and digital subscriptions. It had more than 1. 4 million members as of june and 511,000 subscribers in fiscal 2019 shareholders include tiger global, fidelity and tcb its value then of 4. 1 billion. A few minutes well see you. Were Getting Started on a busy wednesday. When we come back, much more on why bonds are acting like high flying red hot tech stocks any buying opportunity, maybe short lived. More than 100 Companies Pressing the green light. Well take you live to beijing next and later another scary storm heading to puerto rico can the island take another blast when its not even fully recovered from last years terrifying weather the latest on Tropical Storm dorian coming up think you need to pay prestige prices for better skin results . Try Olay Regenerist. The rich, hydrating cream is formulated with vitamin b3 and peptides to plump skin cells, brighten, and visibly smooth wrinkles. In fact, just 1 jar has the hydrating power of 5 jars of the prestige cream. For visible results without prestige prices, try Olay Regenerist with a money back guarantee. And complete your routine with the olay eye collection. Brand power. Helping you buy better. Welcome back theres new reports this morning that a growing number of American Companies are pressing the Commerce Department for permission to do business with Huawei Huawei has been blacklisted by the Trump Administration but Companies Say they need to do business with the chinese giant. Eunice has more on this story. Thanks so much. Well, 130. That is the number of applications that reportedly went to the u. S. Commerce department by American Companies that are looking to continue to sell to huawei so reuters was told by sources that the Trump Administration is still unsure whether or not its going to grant all of these licenses because of all the uncertainty around the trade deal and i was speaking to huawei a couple of minutes ago and they said that they have no comment on this report but except to say that the company hoped the u. S. Would take it off the blacklist and end what huawei has described as unjust treatment. Now meanwhile, beijing is indicating that it doesnt want to provoke the white house at least when it comes to currencies the central bank for the second day in a row set the value of the yuan stronger than what most people were expecting. And going to stabilize the currency throughout the whole trade war process. Eunice, Chinese State media is also weighing in this morning and weighing in on the u. S. China trade tensions. What are they saying now overseas well, you know, its really interesting because we in the past couple of days have seen a very, very Fascinating Development on the political side that could have a baring on the trade front and that is that the state media the past couple of days have started to elevate the title of president xi jingping to something that we havent seen in a very long time it actually suggests that he now has Spiritual Authority. So this term is like what . Theres no direct translation exactly its sort of like having the pope and president cy combined. And other people have described it its been a huge talker here i know you like to have a lot of cocktail chatter this has been the topic that people have been discussing because its sort of like hes being bestowed the title or Something Like that and the way, the reason why its relevant to the trade talks is that a lot of people are saying that if you have that elevated status now where you even have spiritual power and Spiritual Authority then how can you be seen as caving in to President Trump and making any concessions. Or i would imagine how could you be seen as being wrong on any topic . Exactly. I dont want to put you on the spot but i know how smart you are. When is the last time that we saw that title do you know who the last chinese leader was that was granted i guess that higher authority, queue the organ music. Well, there were actually two others so chairman mao had a similar title and then there was another leader for a very short period that had something similar but it was like wise leader as well. So there were two others and then even with xi jingping he had the title and we saw it pop up in 2017 and it disappeared and came back in 2018 and disappeared again when there were rumors that people were questioning what he is doing its created a lot of speculation about what all of this means how hes going to consolidate power especially with the october 1st holiday and the anniversary of the 70th anniversary of the communist party coming up soon. Thats october 1st. A big day. Watching hong kong as well really interesting stuff on many levels there eunice. Thank you very much. On deck, yet another casualty of the u. S. China trade war were going to reveal the one stock that you may not want to be holding, coming up next and abandoning alaska. Details behind bps plan to ditch the klondike after 60 years. This is the big number of the day. 21. 8 . Thats the average tariff china would slap on u. S. Goods if both sides decide to go through with their trade threats. They are set to take effect this sunday for context, the average chinese tariff on u. S. Goods at the start of last year is just 8 . You see, were always trying to make you a little bit smarter here on cnbc and were back with more right after this. Applebees handcrafted burgers now starting at 7. 99. Now thats eatin good in the neighborhood shares are higher and posted better than expected Second Quarter results even as profit or revenue fell. Hp also warning of softness in the computer and storage markets and trade tensions lead to uneven demand. Stock is up nearly 6 by the way. Hp ceo will be on squawk on the street on the flip side, shares of auto desk are tumbling. Cutting its outlook for the year and that stock ouch down 10 now. And these boots are made for walking right out of alaska and bp is selling its assets for under 6 billion exiting a region where its operated since 1969 the deal includes interest on both sort there we go its early bp has been reducing its role in alaska for years now. Where the Oil Production has been declining still to come, why democrats and congress appear to be one step closer to seeing President Trumps finances plus wicked weather on deck. Dorian set to strike puerto rico and its becoming a increasing danger for florida Worldwide Exchange will be right back hey im bill slowsky jr. , i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. Welcome back slow moving Tropical Storm dorian gaining strength as it bears down on puerto rico and other islands in the caribbean President Trump approving an Emergency Declaration for the island he joins us now from new york city good morning, brian. Tracking Tropical Storm dorian here as it makes its way outside of dominica making its close decent to puerto rico here flooding rain and still a Tropical Storm as it make its way across the island. Still a hurricane watch. Also Tropical Storm warnings out toward hispanola for at least the next 36 hours. This track starts to steer more toward the north here. Calms down a little bit but makes its way toward the bahamas by friday and well see sustained winds to 75 Miles Per Hour thats a cat 1 so a lot of uncertainty with this storm season and going to be impacting florida and south carolina, georgia as well. Heading into the weekend, were possibly bracing for a hurricane. Scary stuff there on a place that does not need it. Lets get a check on the other hot headlines. Including another step closer to seeing President Trumps full tax returns. Phillip is in new york now for those stories and more phillip. Good to see you good morning Tropical Storm dorian is about to battle puerto rico and the Trump Administration makes a surprising move pulling 271 million from Disaster Relief funds to pump up the southern border nancy pelosi calling the move a theft and Chuck Schumer tweeting that its backwards and cruel. Democrats in congress appear to be one step closer to seeing President Trumps finances Deutsche Bank confirmed it has records on the trump family and their businesses but did not name whose return citing privacy rules. The president had soon to block house intelligence and Financial Services committee for getting ahold of the information snl star leslie jones will not be back for the upcoming 45th season after spending five years at 30 rock, jones is moving on to host the reboot of the show super market sweep among other projects back to you. Do you remember super market sweep . I do i love that show whats better than running through super market aisle and grabbing stuff off the shelf at warp speed, spectacular. Its an amazing show. Lets relive it you and i. Thank you very much still to come, a fed fight, why the Federal Reserve is strongly rejecting comments from one of its former Regional Bank president s in a very rare and a very big way then, first Johnson Johnson, now Purdue Pharma. Well dig into the future of Corporate Responsibility and vanity fairs own bill cohen next and later, headaches for netflix all ahead of the release of the highly anticipated Robert Deniro drama the irishman why you may not be seeing it in a theater near you stick around do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right. So you can save big. Get a nofee personal loan up to 100k. Its how we bring hope to our patients like viola. Her team treated her cancer and strengthened her spirit. So viola could focus on their future. Cancer Treatment Centers of america. Appointments available now. My dbut now, i take used tometamucil every day. Sh it traps and removes the waste that weighs me down, so i feel lighter. Try metamucil, and begin to feel what lighter feels like. They have businesses to grow customers to care for lives to get home to they use stamps. Com print discounted postage for any letter any package any time right from your computer all the Amazing Services of the post office only cheaper get our special tv offer a 4week trial plus postage and a digital scale go to stamps. Com tv and never go to the post office again red light or green light what the bond market may really be saying about stocks and the economy. The ipo rush