Overnight in asia. The nikkei higher by 1. 1 . Hang seasoning up 2. 3 and shanghai up. 8 . Youll also see green arrows in europe the dax up 1. 9 . Cac is up. Gains for italian stocks too in the treasury market, at this point, 10year yielding 1. 67 . Twoyear at 1. 551 30year up at 1. 61 . Iranian Officials Say two missiles trunk an iranian tanker in the red sea crude prices, as a result of this, they are jumping up close to 2 wti crude now 54. 47. They are saying that damaged two store rooms aboard the tanker and caused an oil leak that attack happened about 60 miles north of the city jeda six months after the attack of the oil tanker in hermuz and the saudi attack never good to conjecture anything they have been the attacker and you wonder was there Something Else going on because they didnt point fingers, you wonder. Was it a screw up but we have no idea. No idea they were attacked by someone. Who knows. Two missiles hit a tanker that much we know. Lets talk about the trade headlines. Futures up sharply down dow futures up sharply eunice yoon will be with us shortly but first to kayla reporter negotiators will meet again as they work towards what to expect this afternoon when the vice premier meets with President Trump at 2 45 p. M. Announcing starting next year, it would remove a requirement of partial chinese ownership in Financial Firms that are foreign owned. Facing that in to 2020 much quicker than china originally proposed. According to the executive Vice President of u. S. Chamber of commerce, they have already clued potential progress for huawei suppliers saying this will show progress but is not a grand slam. The president seemed pleased we are doing well we have another one tomorrow im meeting with the vice premier at the white house i think it is going really well. I will say i think it is going really well. So we had a very, very good negotiation with china theyll be speaking a little later but they are basically wrapping it up well see them tomorrow right here reporter President Trump and the vice premier have met on three of the vice premiers last four visits to washington. In those oval offices, there was usually a positive development whether announcement of purchase of agricultural product, delaying tariffs, or discussing with president xi, so expects are good for today october 15 is the date when we anticipated seeing higher tariffs. 30 versus 25 if things go positively, you think that would have to happen. Not to mention the idea of two leaders sitting down together next month i think you are right in saying the very least. The reason that date was chosen is not a coincidence President Trump and xi are expected to attend the apex summit in chile on october 16 and 17 one of the reason there is so much pressure and focus is the belief if there was just enough room for agreement, maybe they could work to get something for the two leaders to sign. Thank you right now for the reaction from china, lets get to eunice yoon in beijing reporter the tone in the state media is much more upbeat than it has been the state paper wrote a headline that said, smiles seen on the first day. One of the leaders here told me similar comments as you and kayla were talking about it looks as though negotiators are moving towards not a deal but deescalation that the tariffs that were supposed to kick in on october 15, next tuesday, as well as the one in december could likely be suspended as the Trump Administration is expected to grant suppliers licenses the sale of components even though that company is on a black list in exchange, the chinese would offer greater purchases of products as well as signing on to an agreement that would discourage more currency manipulations. For the most part, they would welcome this kind of deal and lift the uncertainty the idea would by to tackle some bigger structural issues down the road Securities Regulator did announce a time table for greater access for foreign firms in the final industry. The timetable is that of january 1, Futures Companies would have foreign numbers scrapped as to april 1, to Fund Management companies and december 1 for Security Management companies. An important point is that one of the criticisms for china is that theyve been making a lot of increment al steps in terms of reforms at the end of the day, they havent had to push through a lot of these changes they have wanted to see. It looks as though the way these conversations are going, they may not have to do it at the end of the day thank you joining us now for more, michael froeman, the former u. S. Trade representative and joining us is alec young mike, let me get your take on what is happening here weve been trying to read through and determine what is happening. Are we looking at deescalation but not necessarily a deal remember at the beginning, the administration said they wanted not just to get more sales of pork and soy to china s but also fundamental reforms it looks like we are moving now into intellectual products and currency in exchange of not further escalation moving away from the theft of additional tariffs is this a move ahead . I think it is a welcome step. Theyve been going at it about 18 months now. They get back on the path of true deescalation. And getting fundamentally to the structural issues. Independent property rights, sub sidations of stateowned properties those are not currently on the table in any meaningful way but hopefully down the road. Is that ever something we can hope to accomplish chinese hawks have come out in such a big way the imposition and threat of tariffs have impacted. How do you use that leverage if we get a few billion more soybean sales. Great for farmers but has that been worth it or can we use that leverage to work for us . We tried it the other way in the past and hasnt been successful do you think this will be more successful you need a combination of the security you need all the tools at your dispose al including bringing them to the wto. Back in the obama administration, we were about 90 done with the agreement. I think you can get there. The question is if these tariffs enhanced the ability or created more noise we have to walk back from alec, the reaction has been one of relief. It is amazing how low the bar has gotten on wall street. I think the market is pricing in an announcement later today. This is just preventing an escalation on the goods. It is not actually getting rid of the tariffs well we dont know. We dont know but based on the trial balloons out there, i dont think they are talking about getting rid of existing tariffs. I think thats what you need to get to new high territory. What would have happened if the vice premier would have left i think you saw in the futures overnight. You would have been in a major sell off in order to break out and make new highs, youneed an end to the existing tariffs that would be like a tax cut something weighing on corporate earnings, we are going to go through a weak corporate earnings season next week. Markets are at an expecting low. If you come in with anything less than a 4 decline right the challenge is that trade is much higher. Without a deal that ends existing tariffs, it is hard to believe forecast for 2020 are realistic. A lot of people are hair cutting those. If the chinese were to leave washington, i think those numbers would go negative. I think thats why markets are really swinging. Thank you both for your time today. Coming up, well have some breaking news more about the Oil Price Rise after iran said one of its tankers was attacked by two missiles well get a live report up next. A look at the biggest premarket winners and losers talking about the dow in this case news breaking overnight, iran said one of its tankers was attacked by two missiles in the red sea. Well go now to tehran for more. What can you tell us, ali . What happened . Reporter thats right, they say this ship belongs to them and sustained damage to its hull after two explosions iranians are saying that this was an act of terrorism and they suspect the damage was caused by missile strikes. They say it was about 60 miles off the coast of the port city when the attack happened iranians are denying any serious damage they say two store rooms were damaged and some oil leaked out but that has been contained now. They say all the crew are safe they deny reports that the ship was on fire. State media have released images of the vessel, which we cant verify but it does show a minimal amount of damage efforts are on their way to get the ship back to iranian territorial waters this will spike tensions even further in a volatile neighborhood they are just calling a meeting to determine the cause of this attack, which comes right on the back of the heels of recent tensions in the region from oil tankers being hit. Drones being down and the saudi facilities being hit iran has yet to blame saudi arabia if they go in that direction, it will be shorter enflamed tensions even further. Both sides will try to show some willingness to deescalate. Theyll be willing to mediate through the third party. I dont think there will be must deescalation much anytime soon back to you. Right off the coast of saudi arabia, well see. Does it make sense that the damage that was caused, is it indicative of a missile attack do you know . Does anyone know at this point reporter it is too err wiar say. All iranians say it looks like an attack. I think in coming hours, theyll say what caused the attack and will possibly say who was behind it but it also comes at a delicate time the pakistani Prime Minister is due to arrive tomorrow to negotiate a deescalation after that visit, hes going to riyadh one has to wonder why these attacks come between saudi and iran we can definitely believe what iran tells us whatever they say will be the absolute truth, right . Reporter well, we are in merky waters there has been a lot of blaming and counter blames, so it is hard to decipher exactly what is going on in troubled waters. So well just ask questions and not draw any conclusions thank you for your reporting on that appreciate it. Okay another big story in the news this morning an update now on the grounded boeing 737 max an International Panel of regulation body known as the joint Authority Technical review found that the boeing mcas system was not evaluated properly and that boeing failed to explain that system to regulators and said there was not enough faa specialists involved in the certification and the faa has been criticized for delegating saying boeing employees were certifying work. They upheld for that practice and called for more engagement in the process and the faa said it will look at the claim and take appropriate action. To some degree, the report is obvious. When you have two planes go down and hundreds of deaths, it is what it is the question on the certification is, do you want boeing employees doing the certification for the faa . If not, does the faa have the capability to understand what is happening . Which is why you saw the National Authorities saying, we understand the practice but wed like to make sure there is more of a working relationship between the two. I think there is a connection between the working relationship, who is reporting to who a boeing employee that could be paid by boeing if you are working for boeing and paid by boeing, are you necessarily an independent source so it continues General Motors is urging United Auto Workers to agree to around the clock bargaining and end the strike today is the 26th day of the work stoppage. Any potential deal would not mean an immediate end. It would still need to be approved separately, gm ceo secretly met with the workers she called the meeting because she was worried talks were off track. Pretty unusual to have the ceo meeting with Union Leaders many are taking this as a sign of a positive return reports out overnight that wework may be getting a rescue package. Squawk returns after this. 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Hows that for changing whats possible . A new report from the Financial Times saying a rescue package may be in the works for wework jp morgan leading a fundraising talk for the struggling startup that needs cash after that failed ipo attempt facing a year to go public in addition to the 3 billion that would have been raised. Reporting staff cuts and a major effort under way to try to rescue the situation given their growth plans the question is how far back to the ratchet back the growth plans. Soft bank, how much of this rests on them . I think softbank will be putting up money i dont think there is anyway to do this without that i dont think you can get must money to come in with both ceos and the plan coming forward. Is this throwing good money after bad. What is the valuation on this company to get to in order to make that money not a loss it may be good money after bad. An extra million to keep it alive. Especially if you can get third parties. Exactly the wall street journal saying saudi aramco could bring in numbers. They reportedly want to close the closely watched ipo by next month. That will take place in saudi locally. The idea would be to float only a small portion to establish a floor. It is half a trillion less than they wanted in this environment where you leave a lot of money on the table. Weird this is half a trillion less but look at the news out of iran this morning. Unless you are the target. If you recognize you are only going to float a tiny amount of the company. You cannot afford you figure people would want it if they float a little bit, theyll have a big jump. It is not about a big so a year from now when they do go on the New York Stock Exchange or whatever so the stock is there yep thats the way to think about it this is just table stakes to start the game. They dont need money did you learn anything about Cancer Research yesterday. Yes you were all about ipo and money. She was a Pediatric Oncologist sitting here you were asking about science. You were asking about the money. Are you saying there may be times we are complimenting from bringing totally different perspectives on everything it was a great interview and i learned a lot on both sides. So nice my job, right good news for fans of breaking bad. This is what im doing tonight. You know colorado plays oregon you do that im doing this im addicted. It is a hit Series Debuts on netflix and marks the return of the beloved Jesse Pinkman picking up from his escape from captivity. The movie will have limited release but wont be eligible for oscars if you think breaking bad is the best drama ever made and vince is a genius, this is worth watching it is like trying to bring back the sopranos. I saw an image from this that seemed to suggest an image of walter white in this maybe it goes back in time. I dont know. I dont want to spoil anything we are going to have a sorkin Family Viewing Party the red witch is that what she was called in game of thrones . I was never a game of thrones guy spoiler alert not only that dont say it. I dont know anything. No, no, no. Im going to end this. When we come back, well tell you about the tech stock already up 280 year to date and is climbing over 300 if you add in this mornings premarket trade. Here is the mystery chart. See if you can figure it out later sap ceo stepping down hell join us in a first cnbc interview. First, a look at the biggest winners and losers it was wonderful. It was great. There was parts that were bad. I agree it was terrible awful boo. Every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 month for 36 months. Experience amazing at your lexus dealer. You should be mad that this is your daily commute. You should be mad at people who forget theyre in public. And you should be mad at simple things that are unnecessarily complicated. But youre not mad, because youre trading with e trade, which isnt complicated. Their app makes trading quick and simple so you can strike when the time is right. Dont get mad, get e trade and start trading today. Announcer welcome back you are watching squawk box live from the marketsite in times square u. S. Equity futures sharply higher hoping for some type of deal with china up now almost 300 points 279 on the dow up yesterday and the day before. S p indicated up 30 and change nasdaq indicated up about 90 we should tell you, it has been a huge week really for the shares of roku wednesday shares soared on news of an analyst upgrade. News after a stake of the company. Stocks up this week. The whole thing is like a wild ride take a look at that full yeartodate chart i totally got this wrong i thought this was a hard wear company like gopro i didnt get the joke. I didnt appreciate what would happen here. It was a remarkable situation. I think that was the day comcast rolled out its box saying you could use its box and hold onto it even if you were not a subscriber right if you had told me at the time even a year ago, i hate to say i wouldnt have believed you i didnt and i was wrong coming up when we return, talking about fidelity announcing it will follow all their on line brokers and eliminate fees on trades well talk about the changing model and what it means for the industry a big shift. Next, you dont want to miss this our interview first on cnbc with