Points after a rally that saw all of the major averages up do you up by 227 points. S p up by 21 nasdaq up about a percent at 85 points a lot of people muling through and looking at some deescalation it still continued but let up a little bit trade looks like a sidelined issue or better. Much much lower but rising that made people feel like they didnt have enough exposure. The dow is up around 2,000. Russell 2000 is up first it is a catch up and then lets see how far we can stretch it overnight, with the headlines of the latest concessions, the s p futures shot up. We are up six or so percent. If we wanted to, we couldnt make new lows or deals it is fairly far away. You are in this zone. You have a cushion below you see the 10year 1. 726 it is good. It is good it is good always a good side, bad side of things. In asia, we did see the president tweeting about postponing tariffs sang high composite ended up in europe, if you look at what is happening there, right now, markets have barely budged there. Waiting to see what happens next President Trump tweeting overnight, set to delay tariffs by two weeks it is significant but the two weeks we know how quickly time passes. It puts pressure on those talks. October, i just get nervous about october every year with stocks they are going to have their anniversary in china it could be a totally different october or, there could be some reason for it to be a typical october. With the market octobers are horrible always a good bottom futures rallied they thought great, futures will shoot to the high. The pattern has been, they do something but dont promise anything after that. A dispointing response it is all in the mix a gesture ever good will and china is responding this morning. Eunice, it has been a week and a half those phone calls that may or may not have happened. Over turs began then, it seems like we have evidence there was some type of thauing on both sides. What is your twitter thing again . yoon tv only yoon tv. A really good one i try to get you hundreds of followers every time you come on i dont know what good it is, anyway thank you china thanks President Trump for this good will gesture beijing does welcome this olive branch to recap, President Trump tweeted that decision was made at the request of the vice premier and due to the fact that the peoples republic of china will be celebrating their 70th an verse on october 1. The delay from the 1st to the 15th is like what you were talking about. Not necessarily so meaningful and would be appreciated by beijing, which considers october 1 as a very important day. Wouldnt want to see any distractions to add to the positive at moss fe atmosphere, companies here have started making inquiries at pricing in products like pork and soybeans even so, longtime china watchers say the fundamental differences between the two sides are still really big also, what was interesting today, people were joking about an old chinese saying, which is, what you cant avoid on the 1st, you cant avoid on the 15th. The meaning, if something is meant to happen, it is going to happen on social media, this probably means the october tariffs and conflict with the United States. Guys say that again. What you can avoid on the 1st . What can you avoid yeah. We can the can down the road on everything. The way it came up was about debt collection. In china, can you try to avoid somebody on the 1st and not pay your bills but on the 15th, you cant avoid paying now it is being used for these tariffs. I can meditate on that eunice, i think. Welcome to the town of onehanded clapping. Im going to think about that. I think it is like this that works. People that dont want to clap have you ever been to a place where they snap fingers . I think thats edgy that goes back to the folk clubs. Thank you, eunice the trade war isnt the only market catalyst today. Mario draghi expected to release a package i cant help it. At the top of the show, it said could make President Trump green with enviy to what my viewers say. If you are already orange, what would you turn to . P maybe green and orange like the irish flag lets ask hans, you are bullish . Kind of friendly towards stocks . You dont like emerging markets much why . Thats right given the strength of the dollar, which has been remarkable, the better bet is in developed markets and the u. S. Its a bit of a change for me. I think it reflects the vesting you are dialing with the circumstances in fronts of you whether valuation or the like. Hank, when you look everywhere, i think you sort of if you try to factor all the different variables, both of them could be trending maybe we dont go as far, hank youve got maybe some signals that trade gets settled one way or another yes look, it is a perfect set up politically. Trump is getting several rate cuts so the Interest Rate environment has improved he can come to a trade agreement what really matters is that this subject get off the table. Certainty replaces uncertainty that will allow Business Confidence in 2020 to pick up and you have the potential for the economy to start to accelerate in 2020 which sets up perfectly for the fall 2000 election interesting how you say that. Makes me feel kind of dirty. Doesnt matter whether we do anything with china or get anything lets get it done so the market goes up and let china take over the world in 2025. Wouldnt it make more sense to say lets hold out and actually accomplish something thats the other view point trump see ises this conflict as beneficial to his campaign thats cynical. What about trying to do whats right for the United States and citizens is that totally wrong that we should let him steel stuff and not have a fair Playing Field . Joe, strictly from an economic standpoint, what is best for the United States is no tariffs. If we eliminated all tariffs, things would be much stronger. I dont know. If you look at the hawkish view point on china i want us to do well economically i want gdp to go back up, unemployment too the case cant be made that this might be the time that you address some of this stuff what do you think, hans. I dont think well make any durable or significant improvements this is sort of falling into the cold war equivalent with trade thank you on that thank you hanz and hank. See you guys later when we come back, ipos likely to be a hot topic smile direct club prepares for a debut. There is a big truck out here for smile direct right in front of us. B budweiser takes another shot at the ipo in asia. Dont miss our interview with Steven Mnuchin thats coming up home depot leading the way, up by 1 . Johnson johnson is a baby company. But were also a cancer fighting, hiv controlling, joint replacing, and depression relieving company. From the day youre born we never stop taking care of you. Go where my baby lives from tb[ growl ]olle srn good boy. Hey. Hey. You must be stevens phone. Know whos on your network and control who shouldnt be with xfinity xfi. Simple. Easy. Awesome. There were tsunamis fourtin the world. And once they happened, we were in a major hurry to get to those regions to provide aid and support. It was very humbling to be able to help out all those people. Its my dream now to go into clean energy and whatever the next new fuel source is, thats where i want to be. I want to be on the front lines of implementation. Welcome back we are remembering the life of oil tycoon, t. Boone pickens he died yesterday at the age of 91 a frequent guest, Brian Sullivan takes a look at his life i dont view myself as a work a holic because i love to work known as t. Boone pickens the corporate take overfrom texas. To friends, he was just boone. Born in oklahoma in 1928, a businessman from the start when i was 12, goit my first newspaper job. I always had money after that in my pocket. It was a good feeling. He graduated from Oklahoma State university with a degree in geology he started his own company Mesa Petroleum with just 2,500 he spent years personally drilling for oil he took mesa public and realized the power of stock turning from geology to corporate finance, he became one of the first socalled corporate raiders. Creating a playbook to be followed by others take a small stake in a company, pressure it to sell itself and become very rich in the process. I would be foolish to tell you we lost in a deal where we made 500 million. Also an advocate for share holder rights. Remember, the stock holder holds the company and the management is the employee in 1997, at the same of 68, pickens started his investment firm, bp capital it was a nearly total flop at first but a huge bet on natural gas in 2000 set off a run to a billion dollar fortune he made America Energy independent. We havent done a thing to lower our dependancy on foreign oil. He created a Company CalledClean Energy Fuels he donated 500 billion to his almar where the Football Team now plays in the Boone Pickens stadium. He bought and moved his childhood home from oklahoma to the texas ranch and started to drill a new oil well there in 2016 i always said id go out in a box. A lasting memorial to a full life lived squawk viewers know him as a frequent guest boone was somebody who was always curious, always learning, always flexible. I think thats why he never considered it work as people get older, they get set in their ways and think what they know is what they know and nobody would tell them otherwise. Boon was always looking for the next big thing he was known as the oil man. He said, call me the gas man, wind man he thought there would be peek oil and changed his mind because he realized fraking was coming he would always go big hed make a few billion, lose a few billion. I remember everything about boone when i was a stock broker at merle in 1981, boone began his whole mesa saga. I remember telling my clients. Mesa mlp, it was paying like 8 or 9 . It was not like a regular dividend he would argue, he went after city service, gulf oil, unical all companies bigger. Yes this happened there. And then i got to meet him and know him he was really an endearing, sweet guy. You could bust his stones a little he would look closely at what you were saying. He was a student as well as a teacher and constantly learning along the way. That is an amazing sign when somebody is adaptable. What is unique, is nobody else had the parallel life and then the share holder advocate who brought about the 70s and 80s. Hes right. Management teams are the employees. He was right to point all of those things out he was on the cover of Time Magazine right there in the middle of all the action in the 80s until 1987 then, a whole new life i got to know him on a completely different level and not just an oil man but also looking to alternative fuels. Water too. Did you know he thought about running for president in 1988. He was a backer of many candidates thats a life welllived. By time we knew him, he was in his 60s. Sk i went to china with him when he was in 70s. I went to china with he and his wife at the time i spoke to Warren Buffett about him yesterday. He said, they grow big personalities in texas, none could top boone. I was never with him that wasnt fun. I think that is what everybody could say. I had break fast with him about a year ago even after some of the effects of the stroke, he was still busting the chops. He loved the cowboys and osu. Texas a m didnt renew his scholarship. As a result, he went to osu, so they got the 500 billion. Texas a m sts lithat as one of the biggest mistakes of time we will miss him as a struggling actor, i need all the breaks that i can get. At liberty butchemel. Cut. Liberty mu. Line . Cut. Liberty mutual customizes your Car Insurance so you only pay for what you need. Cut. Liberty m. Am i allowed to riff . What if i come out of the water . Liberty biberty. Cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Time for the executive edge. Well start with some corporate stories. Watching shares of oracle. Ceo mark hurd taking a medical leave of absence they wouldnt be more specific founder and chairman handle his responsibilities reporting First Quarter profits and revenues slightly below. Shares fell after the announcement but mostly recovering losses now down just over half a percent. Groupon facing pressure from investors. It could be considering a tiup with yelp. From the debut in 2011 has fallen yelp is valued at nearly 2. 5 billion budweisers ipo in asia and treasury secretary Steven Mnuchin will join us to talk china trade. Right now, a look at yesterdays s p 500 winners and losers through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From finding out whats selling best. To managing your fleet. To collaborating remotely with your teams. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. Were changing whats possible every single day. With technology that helps you offer shoppers a better experience. Take your companys app. We can add in all sorts of capabilities, which help your customers manage rewards, offers, and payments on the fly. And now, applying for credit can happen in a flash. That way, more people can start shopping with you on the spot, wherever they are. Hows that for changing whats possible . Welcome back. You have watching squawk box live from the Nasdaq Market site in time square good morning, u. S. Equity futures up again last night, they were up triple digits we held on to a 50point gain after six Straight Days up for the do you the nasdaq which had been weak up s p up as well lse set to reject the 36. 6 billion hong kong bid. Wiping out some 1 billion of market value as asian investors got a chance to adjust the unsolicited bid for the lse. And ab inbev revives the plan and what would have been the Worlds Largest ipo. The brewer scaled down the offering the ipo is set to take place before the end of september, which is less than three weeks left andrew is not here today but he has a report that says the leaders of 125 companies will send a letter today urging expansion of background checks of firearm sales and stronger red flag laws. Among the companies that signed this letter, levi, twitter, air b b and more when we come back, the government cracks down on e cigarettes and later this morning, treasury commissioner Steven Mnuchin coming up at 8 00 a. M. You are watching squawk box on cnbc i can shine, i can shine, i can shine. Imma do what im made to do. Built for excellence. You start from the foundation up. The excellence is reaching dreams and chasing them at the same time. Welcome back, the Trump Administration preparing to crack down on flavored vaping products sorry to tell you about that eamon. Something else you like to do, maybe . Joining us now with more this will not affect my life one iota the idea is that these flavored products are too tempting and appealing to children that are being brought in this the vaping wave in huge numbers. It is alarming the idea is to roll back a waiver the fda had given under the obama and extended under trump that would allow the marketing and sale of these products theyll allow the Tobacco Products to stay a lot of smokers use these products to try to wean themselves off cigarettes in theory to stop smoking they say that is a good thing. They want to stop the piece of this that seems to be aimed at or appealing to children here is how the president talked about it yesterday we are looking at vaping very strongly it is very dangerous children have died people have died the acting commissioner is something who is a true expert as much as somebody can be an expert on a new subject. Well have Important Information come out shortly the president saying there well have some strong rules and regulations. The fda releasing information that the specifics are not being released it will be a while here before we know how this will play out the administration signaling here, it has to go after the flavored e cigarettes on the market weve been talking about this for a while. I think what caught everyones attention is just how much of an issue this has become for High School Kids. Something like 25 of High School Kids have used it in the past month or so going back to when i was growing up and trying to stop kids from smoking. Candy flavored Tobacco Products marketed to teenagers. Maybe they deny that if someone were to tell you about this, it sounds like something you would see on snl glass in a bag remember the days they were stamping out the ads like joe camel. This is that times x we are in the back to School Season a lot of parents are really focused on this. A lot of the Initiative Came from melania trump, whose son barron is in school now. I see this with my own kids who report back. It is a scarey thing you wonder how are these products everywhere when five years ago, they seemed not to exist. Joining us now to talk more about the crack down off e cigarettes, the congressman who accused juul of breaking the law and advertising. Congressman, thank you for joining us what was your point . What would you like to see happen it is one thing for adults to perhaps vape, it is another thing all together for the industry to target our youth there are two aspects of this that are very alarming one is that 20 of High Schoolers and 5 of middle schoolers are vaping, which makes it an epidemic hundreds of hundreds of people are hospitals with severe respiratory illnesses, most of them youth six people have died im very glad the white house took a step yesterday. They cited our investigation and hearing. But more needs to be done. 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