Morgan brennan. Good morning. Good morning. Great to be back here at this early hour with you. It is lovely to have you with us. Well get straight to the markets. This morning after a week we saw gains, quite a lot of movement in volatility. Of course, that fed meeting in the middle of the week where we didnt see the hike in Interest Rates did leave markets to move around in various directions over the course of the week, but we did have about 1 of gains for the week as a whole by fridays close. As you can see, were expected to open down to the tune of 80 points for the dow. 10 points for the s p. And 27 for the nasdaq this morning around half a percent of declines expected. We look at the tenyear treasury note, which of course had paused its rise recently and now is closer to the 1. 6 handle up near 1. 7 a couple weeks ago. And taking a look at european equities this morning, those are tracking lower. The german dax is down 1. 5 . The french cac is down 1. 7 . The ftse 100 down over 1 . And really seeing stocks led lower by banking and energy companies. Deutsche bank hitting an alltime low and also the lower session here following lower equities in asia as well as we take a look at those markets in asia. We see the nikkei is lower. Thats down about 1. 25 . Led lower is the japanese yen higher. The hang seng about 1. 5 lower. And the shanghai composite is down about 1. 7 . Thats right. The Deutsche Bank story is the big one in europe. Well go into more detail on that in a moment. A quick look at the oil prices very much in focus today. That meeting taking place in algeria over the next two or three days. Opec members possibly expected to freeze production. The Algerian Energy minister is the host of the meeting making some comments over the weekend that the saudis are considering to lower their production levels. Ill believe it when we actually see it. But nevertheless, markets are higher, wti, 44. 6. Last week oil prices gaped about 3 for the week as a whole. Dollar, if we have a look at that, it was so the last week. Two weeks in a row of declines for the broader dollar index. And it was soft in earlier trade today. Indeed it is at the moment. The yen up about. 50 . The pound is softening against the u. S. Dollar. Ongoing stories out of the uk heading for a hard breaks zxit d the soft brexit. Oil prices quickly for you if we have a look at gold, it is softer by a third of 1 . And more on the markets in just a minute, but first the sports world is mourning the loss today of golf legend Arnold Palmer. He died at the age of 87 from complications of heart problems. He won 62 pga titles and 7 major championships as well as 4 victories at the masters. He turned the golf into a mustwatch game on television. Palmers longtime rival and friend Jack Nicklaus said this statement, quote, he was more than a golfer or even great golfer. He was an icon. He was the king of our sport and always will be. Well have more on this coming up. Back to global markets, bank of japan governor Hirohiko Kuroda says the boj is ready to use every possible tool to hit its 2 inflation target. He also said that there is no limit to Monetary Policy and that designing policy, the bank of japan will relentlessly pursue innovation. Of course, the latest out of the policy measures will work, just abated throughout the course of last week. Obviously, the asian markets are soft again this morning. Certainly. Now to the economic agenda. The week ahead is full of data on a the consumer and Housing Market today. Look for august new home sales at so 00 a. M. 10 00. The minneapolis french president Neel Kashkari and dallas fed press rob kaplan. And well hear from carnival today. And tonight the first president ial debate will occur. They will talk about americas direction. It will be moderated by lester holt. Nassau county Police Officials say they have extra officers at the event and are expecting more than 10,000 protestors. Well have a live report from hofstra in just a bit. And then tonight you can watch the debate live right here on cnbc. I think this is just going to be all the focus today. It absolutely is. Very exciting to watch. Absolute mustwatch television, despite being late for us. But still must watch. I think im going to have nap throughout the day, wake up, watch the debate, go back to bed. Plan out a sleep schedule. Well have a preview from the debate stage in a minute for you. Back to corporate news, shares of Deutsche Bank tumbling to a record low this morning. This comes following the report in the german magazine focus that Angela Merkel rejected any inference with the u. S. Department of investigation into the firm. The doj wants Deutsche Bank to pay up to 14 billion for issuing, distributing and securitizing. The stock is down just over 6 . The share price had already been under performing. The contingent debt instrument they closely watch as well, they have fallen sharply. The yields are moving from 6 to 7 this morning. And it just is a double whammy for Deutsche Bank here that again the politicians arent going to support it. Its a position that we already knew existed from Angela Merkel because she had to maintain that position from when the italian banks bailed out. Hearing that confirmation over the weekend that shes not going to soften the view hit share prices this morning. You can see the dramatic plunge today. Over here the palout continues for wells fargo. The top ceo releasing a note saying his firms previously strong support for wells fargo ceo john stump is now waivering. Mayo calls stumps reaction waivering. He says, wells far dpo is bigger than the ceo, notwithstanding other issues. They believe wells fargo needs to address first how long the problems can continue and what wells is doing for customers and third for the callbacks to be put back in terms of pay. And fourth that stump should reduce his own compensation. And fifth wells needs to restructure its board and possibly split the chair role from the ceo. Mayo still ranks the stock as an outperformer. For wells the focus will be on thursdays house hearing following the Senate Hearing last week. And mayo basically suggests this is his last chance for the ceo to perform whereas going into last week, he needed more to happen to lose his position. He now says this is a mustwin kind of performance from stump in order to hold on to his position. In stocks to watch today, germanys lanxess is buying chemtura for the price point of 2. 1 billion. They will pay 33 a share and nearly 19 premium to chemturas Closing Price on friday. They will expand in lubricants and flame retardants. And samsung is delaying new sales of the note 7 to october 1st. The move is necessary to complete the ongoing recall of the device. Samsung recalled 2. 5 million note 7s earlier this month due to faulty batteries that could catch fire. Ill just note on that, i was on several planes last week, and its the first thing that is announced over the loud speaker. Its a little which is serious. It is a little nerveracking. Thats seriously damaging to their image. When it is that bad, the release you are shoes issues, then people wont forget that. And only a fraction of people have turned them in for this recall. Shares of cbs could jump 30 next year, double in the next three or do even better if the Company Makes the successful attempt to buy viacom. Cbs would have leverage because the Growth Prospects are as bright as viacoms are dark. General motors workers in canada approved a new contract. The fouryear deal clears the way for 544 million in investment by gm. Mostly in its plant in ontario. The contract covers nearly 4,000 uni workers and will give gm more capacity for the pickup trucks. Share prices of gm just above flat this morning. And Hyundai Motors south korean labor union staged the first full strike in 12 years today over stalled wage talks. The strike poses a threat to the bottom line already sliding. The Assembly Lines at the three domestic plants halts production of thousands of vehicles. And if you take a look at shares of Hyundai Motors, those are down. 60. Coming up, brexit fallout. A new survey finds three quarters of uk ceos are thinking about moving operations abroad. Well tell you why. Welcome back to Worldwide Exchange. A very good morning to you. Lets have a look at the futures markets. Were expecting half a percent of declines at the open today. We did see gains last week volatile for performance in and around the fed meeting where we didnt get a rate hike. Equities in the u. S. Ending a percent higher for the week as a whole, but that doesnt tell the whole story. Asia with soft. Europe is particularly soft this morning. And all eyes being on german trade. With the Deutsche Bank trade, in particular, its down 6 heading to the lowest level ever. Again, highlighting the ongoing difficulties many the european banking system. Oil also in focus today. Of course, the meeting taking place in algeria. And last week we did see slight gains for oil prices around 3 . Were expecting some positive moves at the we have positive moves already this morning as you can see wti, 44. 6. As we said, the focus will be on the opec producers and whether they can get any kind of production freeze agreed at the meeting. And hadley gamble is there with a preview. Hadley . Reporter hey, good morning, wilfred. We are on the sidelines of this International Energy forum here in algiers. It is interesting to note that theres been a lot of discussion over the last 24 hours, particularly within different camps, whether speaksing to the algerians, the russians, the saudis, many analysts dont expect much to come out of the meetings. But the algerian oil minister saying no one wants to walk away emptyhanded. Not again, not another big disappointment with the doha meeting ending with angry faces. Theres no world on whether the awe saudis will push iran on this point. Iran economically doesnt want to do anything in terms of a cap so far. And the big question is whether they can be convinced to move on this. For aussie arabia, saudi arabia, it is a question on whether the Shale Oil Producers in the United States will adapt to price shocks over the last several months. The question is, will anything get accomplished . A lot of controversy over whether or not well see the russians even come into the table, even pushing the saudis here. There are a lot of back channel conversations happening at the moment. As we heard from the Russian Energy minister, he said this is not critical for russia at this point. So it will be about the conversations taking place over the next few days, guys. Hadley, what difference does it make in your confidence that any deal will come out of this, that this is not a traditional scheduled opec meeting, there are others there, sort of the impromptu nature of it, does that suggest there is a higher chance of something finally being agreed . Reporter well, its certainly going to mean a lot of running around for the journalists here. We are standing in this massive new complex. This complex has really been unused so far here in algiers. Its massive and big. And frankly, when talking about all the Oil Producers present here, there are a lot of conversations that are going to be happening around the meeting with a lot of backchannel conversations as well. You have to remember what has been happening particularly with regards to saudi arabia and iran isnt happening in a vacuum. We are talking about the ceasefire agreement in syria. Iran has a lot to pay for at the moment. Essentially what we know is they are trying to rebuild their economy and also having to pay for fighters, hezbollah, whats happening in syria, so a lot of questions surrounding what is happening on the syria front, not just on what is happening with the price of oil. Guys . Hadley, its Morgan Brennan. You mentioned the shale producers here in the u. S. , what is the talk about the shale producers here in the u. S. . Just in the last couple of weeks we have seen the rate count here tick up. Is that considered the biggest wild card here in conversations . Reporter oh, absolutely. I think that certainly for saudi arabia, this is not just a question about whether or not they can say mission accomplished, declare victory, at what point are they going to say enough is enough . They have to also worry about what is happening at home. While the sovereign seems to be doing well, when you talk to analysts, they are confident about saudi arabias ability to continue to pay for their economy, it is not really a reflection of the really economy in saudi arabia because this doesnt depend on their taxpayers. And the private sector, not just in saudi arabia but in the eu are really hurting from the trickle down of the oil prices. So the question is whether or not they start to listen to folks back home and they are worried about a level of anger. Guys . Hadley gamble reporting there from algeria. The uk foreign minister Boris Johnson says britain has a lot of work to do before triggering the formal divorce procedure with the european union. Once brexit is done, its done. The country wont let the process drag on. Specifically, johnson telling the bbc brexit wont happen before christmas and the uk has got to do a lot of work as we said before triggering this. A new survey from kp g finds many britain ceos are looking to move outside of britain as a result of brexit. Three quarters of the executives polled considered relocating part or all of their businesses. More than half the participants believe britains ability to conduct business will be hindered once the nation leaves the bloc. In other british political news, Jeremy Corbyn has been reelected and must work to bring together a rather separated party. A convincing victory for him as the labour leader. Well talk about the life and legacy of the king, Arnold Palmer. Well talk about how he changed the sport he loved. But first, here is todays National Weather forecast from jen carfagno. Happy monday. Finally feeling like fall. For so much of the country, actually the northeast, we had a nice cool, crisp weekend. Enjoy today. We do have a front tracking in with temperatures warming up a limit bit ahead of it tomorrow. Southeast still dealing with the heat, but actually the front will make progress. Well get that through by tomorrow and get some improvement there. And dallas, only in the 70s. Huge changes from what we have had over the past week or two. All right n the west, this is where we have the heat. L. A. Going to 102. Heat advisory for the San Francisco bay area. Temperatures there will be up in the upper 80s, near 90 inland spots. It will feel 100plus. Thats a concern for the heat advisory there. In the east, enjoying cooler temperatures and lower humidity. Thats your coasttocoast forecast. Im meteorologist jen carfagno for the weather channel. Worldwide exchange continues after this. Guess what guys, i switched to sprint. Sprint . Im hearing good things about the network. 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Comcast business. Built for business. Welcome back to Worldwide Exchange. Futures are pointing lower this morning around about half a percent lower as you can see the dow fall down by 73 points. The s p by 10. The nasdaq by 26. Quick look as well at other assets, currencies, the dollar is weaker against the broad index of currencies. Two weeks in a row of declines for the dollar. Its soft for the most part this morning as you can see against the euro and the yen, although the pound itself is soft against the dollar. Getting near postbrexit lows the last couple of weeks with the pound soft. Oil prices, a lot of focus on that this morning, with the meeting taking place in algeria. Will we get a production freeze . Oil prices are higher over the meetings taking place, 44. 7 for wti. Arnold palmer died yesterday at the age of 87 due to complications from heart problems. Palmer revolutionized the game of golf and made it popular on television in the process. Nbcs kurt gregory has more on palmers life and legacy. Reporter Arnold Palmer grew up the son of a greenskeeper turned head golf professional in latrobe, pennsylvania. His hollywood good looks and powerful unorthodox swing made him a golf superstar. Fans crowded the fairways in droves and came to be known as arnies army. Many who couldnt watch him on the course in person did so in their living rooms during the 1950s and 60s. Palmer helped make golf the tv sport it is today. His popularity grew. Companies wanted arnie pitching their products. Arnie, they said, youll like it. The tractor will like it. Same penzoil, new package. Reporter nicknamed the king, palmer became famous for his strength in