Shrugs off with a sector trading in the green. A bedrock of global stability. Chinas president urges stronger cooperation with the United States as he works to reassure Business Leaders amidst reform and cyber security. Instagram tops with over 400 million people. Coming up on the show, find out how bank of america chief has held on to both his titles despite concerns of descent. A victory for hillary clinton. The pharma firm will drop prices but by how much . And new york yankees legend yogi berra passes away age 90. We take a look back at his stellar career and inspiring quotes. Lets look ahead to the u. S. Markets open. Futures indicating a higher start after a sell off of 1 across the board. So the s p and the nasdaq are within striking distance again of correction territory. I should point out that the dow and the russell 2,000 already remain off their highs by more than 11 so the implied open is telling us that the s p 500 should be opening up five points higher. The Dow Jones Industrials looking at gains of 48 points and the tech heavy nasdaq seen in advance of 21 points so far when markets start up for their wednesday session. Lets take a look at the lead from europe and were coming back a bit today. The ftse 100 in advance. After being sold down in last years trading sessions being weighed down by the auto concerns and at the emissions cheating from volkswagen and the like. The german dax with volkswagen in a big heavyweight on this benchmark. Gains of 1 . The ftse mib coming back as well. Lets check in on asia. Theres been a lot of pain across asia with the shanghai comp down 2 and this is after manufacturing continues to look ugly with the pmi for the month dropping to a 6. 5 year low. And it looks like there is no reprieve for the worlds second largest economy. Thats right. And susan, you and i know that the external factor has been a drag for quite sometime and looks like a similar story with the latest data set. 6. 5 year low for factory activity and the new export orders components was particularly weak as well. So that just really highlights the drag from the external side. I want to say maybe the numbers could have been distorted to the down side at the victory day parade and blue skies over beijing and for that to happen we needed to see factories being idled so bear that in mind. Here and now this was a disappointing figure although not entirely unexpected. Lets take a look at the Market Reaction to those headlines. And it really stoked risk aversion across the asian markets. Especially in Greater China and the Australian Market in terms of trade australia. Its very hard wired into the chinese economy. Two year lows for the s p so its interesting dynamics. China is the main narrative now. The fed highlighted Global Growth concerns and todays data just seemed to under line that weakness. Thats where we stand at the end of trade here in asia. Back now in london. Thank you. Lets get back to our top story. Its all about vw these days and shares in the company have recovered quite a bit after trading near the bottom of the stoxx 600 this morning. Have a look now. Were up by 1. 79 right now but over the past week were off 36. 46 in the last two days alone. This stock has lost roughly 26 billion euros in market value. I also want to show you what the dax is doing because they have a very heavy waiting on the dax, roughly 25 . The xetra dax is rebounding. A call revising its target lower on the index on the back of the vw scandal. Deutsche bank not the only one making a call on volkswagen in light of recent events. We did have them cutting the price target to 130 euros a piece keeping it at a hold still. Jpm coming out and cutting its outlook. Down to a neutral price target here. Barclays has warned that diesel penetration might see some fall out across europe but it sees modest opportunities in the future. Lets talk about the fall out. Volkswagen faces at least 50 class action lawsuits in the United States with the company admitting to maybe over 11 million vehicles being effected. Vw ceo apologized for this misconduct but ryu morse continue to swirl about the safety of his job because he has contract extension coming up and people thought he was a shoe in but in light of whats been happening its all about the Corporate Culture and whether or not he can find a new person at the top. Youre right. It looks very uncertain. Key members of the Supervisory Board are expected to meet today after they reportedly kick aufd last night. Lets get back out. Can he hold on to his job . What do you think . Well, the feeling i get on the ground is no seems to be the consensus here but its really still too hard to tell. Were being told if the supervisory meeting takes place today, keep in mind they have not officially confirmed its being held but its believed that the top four members of that board are meeting here and that is just ahead of the friday official meeting which will include the entire Supervisory Board. So friday will be the real test as he tries to hold on to this position but theres some serious questions here about what he knew, when the issues happened, because of course he has been in the position since 2007 and a lot of these defeat devices were talking about that were deliberately designed to be put on these certain diesel power cars in order to defeat admissions tests started to come in from 2009 so under his ten year and he is a ceo that prides himself on being an engineer. So at the very best if he did not know about this software it raises the question of how could he be so removed from the situation . So either way his prospects are not looking great at this stage but he did make another appeal to both customers and employees at volkswagen and really stressed how sorry he was for the incident. Heres what he had to say. I personally am asking you for your trust as we move forward. We will get to the bottom of this. We are working hard on the necessary Technical Solutions and we will do everything we can to overt damage to our customers and employees. I give you my word. We will do all of this with the greatest possible openness and transparency. So trust there being the operative word as he tries to regain confidence in this brand and keep in mind its not just the struggles in the u. S. With the nearly 500,000 vehicles being effected were also talking about 11 million cars worldwide and some pressure here in europe to extend the probe to other european auto makers but were seeing that pop in stock today because given the two day consecutive drop people are seeing this as a buying opportunity but other analysts noticed if the ceo does have to resign this could be a positive catalyst for change because volkswagen has continued to struggle to turn around the flag ship brand in the United States. A crucial market for them. And also everyone seems to know about the troubles in china and just a week agatha was the real focus at the frankfurt motor show. It was to what extend theyd have to turn around their performance there. So a lot of questions as we await the initial supervisory talks. Well get that to you. Thank you. Another person weighing in is the renaultnissan ceo that said a lot of people would have known about the emissions issue. He said it would have been hard to hide such an effort to falsify data. He urged the industry to be extremely open. Lets continue with some other top stories. The chief executive has told nbc he will lower the price of a pill at the center of a drug fire storm. Hillary clinton sparked the sell off when she accused the sector of price fixing. Her comments were in response to the fact that they raised the price from 13. 50 to 750 a pill overnight. The ceo said he would decide on the exact price cut over the next few weeks. Yes, its absolutely a reaction. You know, i think that there were mistakes made with respect to helping people understand why we took this action. I think that it makes sense to lower the price in the response to the anger felt by people. Its large to see a large drug price increase but when you find out the company isnt really making any money. What does that mean . Its hard stuff to understand. Shares of Goldman Sachs closed down around 2 after falling around 3 on the back of the news that Lloyd Blankfein has been diagnosed with a curable form of lipoma. He will run the company as normal but had to cut down travel plans during the course of treatment. The firm plans to expand the responsibilities of goldmans coo. Brian moynihan will maintain his role as chairman and ceo of the company. 63 of shares cast were in favor of allowing him to keep both posts despite an on going push from other activist investors to separate the roles. Lets look at shares in this hour. In germany theyre up by 1 . Still to come on the program, market volatility, currency intervention, slowing growth and cyber hacking, what does this mean . And the chinese president makes his First Official state visit to the United States. More after the short break. 400 million users only nine months after getting to 300 million and pope francis and chinese president xi jingping continue their visits to the United States. Insurance website cover hound has raised 33. 3 million in its latest financing round. The new investment raises the companys funding total to over 53 million. Cover hound now marks the 5th u. S. Company to work with its accelerator and exceeds a 100 million evaluation. Joining us is the ceo of coverhound. Thank you for joining us. You recently talked about the fact that the Insurance Market is ripe for disruption in two key areas. Homes and autos, why . Auto insurance comparisons in the u. S. Has been believing the advertising over the last four to five years in the billions of dollars range so you can see consumers looking for true choice and transparency and coverhound is the best place to do that. Why are you so well positioned to offer the customer a better offering . Theres so many sites out there where you can compare and buy insurance. What makes you stand apart from others. We stand apart because of the 30 plus carrier relationships we work with today but also we focus mostly on the Digital Consumer experience. So we make sure whether its desktop or mobile that the consumer has choice and transparency. That the ability to easily and simply Purchase Online at any time. Keith, i really want to talk to you about fundraising. I always find this so fascinating because some are calling this the repeat of the. Com bubble in 2001. This is serious funding for you. Youre raising 33 million. Can you take us through how easy it is to get money from Global Investors . It is never easy and rightfully so. We worked really hard. The team is fired up around the great Consumer Experience we delivered and now were going to take these funds and expand into stroker home and also commercial and small business. Lets just quickly touch on insuring against cyberattacks. Thats something that youre involved with. How big and significant could it be in the future . Its a big area and were focused on it and hope to roll out products in 2016. But the primary focus is to make sure that people understand the product first. Thank you for staying up late or getting up really early for us. Still to come on the show, volatility grips Global Markets with with the dow posting a trim digit move in 19 out of the past 24 sessions. Stay tuned for how to monetize the market moves. Hello. Oh. Yes, hi. Want to survive. A crazy busy day . Start with a positive attitude. Great. Thanks. And positively radiant skin. Aveeno® positively radiant moisturizer. With active naturals® soy. To help reduce the look of brown spots in just four weeks. I gotta go. And for gentle makeup removal. Try our nourishing wipes to brighten skin. Aveeno®. Naturally beautiful results®. The state visit has begun. The chinese president seeking to reassure the u. S. Business community that the worlds second largest economy is still a good place to invest. Speaking in seattle he said beijing will not manipulate its currency to boost growth and he also pledged to implemented strict reforms. Translator when it comes to the toughest reforms only those with courage will carry the day. We have the resolve and the guts to press ahead and take reform forward. We will stick to the direction of market economy reform and continue to introduce bold and result oriented reform measures concerning the market, taxation, finance, investment in financing, pricing, opens up and peels livelihood. China will never close its open door to the outside world. Opening up is a basic state policy of china. Its policies will not change nor will its pledge to protect the legitimate rise in interest of investors in china and to improve its services of Companies Operating in china. Former treasury secretary said the u. S. And china need to collaborate as he warned the worlds second largest economy had shown signs of weakness. They have an economic model thats run out of steam and they need to place much more reliance on domestic growth and consumption. Meantime, he is scheduled to meet a string of senior tech leaders later on today including apples tim cook and microsoft. It will be front and center days after the app store was hit by a malware attack in china. We get an inside look at how hackers operate. From his office in china, this former military officer says he heads a 5,000 person team known as red hackers. I decided to learn hacking skills after my computer was hacked, he said. After i retired from the army i thought i could use my skills to continue to serve and love my country. I chose to be a red hacker. To be the personification of justi justice. Chinas hackers are a source of friction. They angered the u. S. Which blocked business deals for Chinese Companies and is considering sanctions on those expected of engaging on commercial cyber theft. The hackers say they work from all over the country but they tend to cluster in hightech areas. This city is home to the countrys biggest Electronics Market and is chinas silicon valley. Prince denies his group targeted u. S. Companies though they have attacked commercial organizations in regional rival japan. He showed me one way he hacks today into a local hospital. He finds an email. He guesses passwords like the hospital address. By the third try, were in the system in less than five minutes. Were now able to gather more information. Email, phone numbers, fax he says. Prince says the hackers act on their own but occasionally theyre called on by the government to help track those believed to be working against the state. The Chinese Government says it doesnt support hacking activities and we couldnt verify his claims. I independently have cooperation with the Chinese Government but its all off the record. The government normally asks me to follow the electronic footprint of different hackers, gather information on hackers and submit official reports. For the country he vows to protect. Cnbc beijing. Okay. Lets talk about Global Markets and joining us in our london studio, chairwoman and founder. Good to see you. Lets start with the visit by chinese president xi jingping. It seemed to be a line by line rebuttal saying were not going to see any more devaluations and he said it was necessary to prevent massive panic. Did you hear anything that you havent heard before . Theres nothing we havent heard before and quite frankly the chinese have made comments to make the devaluations actually sound like policy reform which, in fact, it goes against all the stated goal thes have in particular the goal that they want to enable household buying power and it makes Everything Else more expensive and does favor corporations. They have to defend their currency because the widest spread weve seen in yuan history. So theyre spending a lot of money to make sure that the chinese currency doesnt weaken from its current levels like it should. Youre right. Theyre an exportlead country and they made no policy reform to change that which makes them more vulnerable while global trade volumes are shrinking so they are going to fight with everyone to take an ever larger piece of a shrinking pie. Youre going to stick around a bit. Well talk about what else is happening around Global Markets as well. Also well take a look at the markets because according to harvard its a little frothy. So is harvard really top of the class . Well grade the Financial Performance of the Worlds LargestUniversity Endowment fund and how futures are trading just ahead of the wall street open and were pricing in a higher open so far. vo what does the world run on . It runs on optimism. Its what sparks ideas. Moves the world forward. Invest with those who see the world as unstoppable. Who have the curiosity to look beyond the expected and the conviction to be in it for the long term. Oppenheimerfunds believes thats the right way to invest. In this big, bold, beautiful world. Hello and welcome to worldwide exchange. Im susan lee. Im wilfred frost. Here are your headlines from around the world. Vw ceo is deeply sorry but his future hangs in the balance as the board holds an emergency meeting to tackle the fall out from at the missions scandal. Millions of people all over the world trust our brands. Our cars and our technology. I am deeply sorry that we have broken this trust. No end in sight for chinas economic slow down. Data surprises to the down side sending shares in asia sharply lower but all sectors trading in the green. A bedrock of global stability. Chinas president urges stronger cooperation with the United States as he looks to reassure senior Business Leaders of concerns over reforms and cyber security. A shot in the arm for facebook. Instagram overtakes