tv Early Start with Christine Romans and Dave Briggs CNN August 23, 2019 1:00am-2:00am PDT
cracks in the economy threatening a downward spiral. the fed chief will try to calm investors today. top world leaders gathering this weekend for the g7 and france as they try to calm growing concerns back home. pointed fingers over raising fires in the amazon. he says they're being ignited to make him look bad. and a school superintendent in tennessee got a $15,000 bonus. what he's doing with it will inspire you. welcome to our viewers in the united states and around the world, this is "early start." i'm dave briggs.
>> i'm julia chatterly in for christine romans. it is friday. happy friday. august 23rd. 4:00 a.m. here in new york. we have reports from france, south korea, and brazil. first, it's hard to recall a wilder two-week period for the markets and the economy, cracks are beginning to form. some of them self-inflicted perhaps by the white house. in just the last two weeks, the yield curve inverted. investors demanding higher rates in the short term. we've had new projecions saying the deficit will soar past $1 trillion in 2020. job estimates will revise down, and the president repeatedly flip-flopped on a new tax cut. this trade persistent uncertainties leaving the fed searching for flexibility here. yesterday we learned the manufacturing sector is shrinking for the first time in a decade. all that means a pretty big day for fed chair jay powell. he faces a serious test with a high-profile speech in wyoming, looking here to reassure
investors. he's also facing pressure from president trump and expectations to deliver yet more rate cuts. here's one of the president's economic advisers, larry kudlow. >> i'm not going to second guess jay powell. i'm going to say i think the handwriting is on the wall for lower rates. >> stocks were pretty choppy on thursday after the bond market flashed warning lights this a recession could be coming yet again. only the dow managing to eke out a gain of just 50 points here. the "washington post" is reporting top advisers notified the president that some internal forecasts showed the economy could slow over the next year, complicating his path to re-election. now that contrasts sharply with the positive rhetoric we've heard from the white house. the "post" is also reporting the administration has discussed creating a rotating fed board where only some fed governors would be able to vote at each interest rate meeting. interesting.
>> indeed it is. the leaders of the world's major economies meet this weekend at a sunny resort in south france. storm clouds hover on the horizon in the form of disruptor-in-chief donald trump. and with u.k. prime minister boris johnson bringing brexit woes of his own, expectations, let's just say, for this summit are, well, low. cnn's international diplomatic editor nick roberts is standing by live this morning. nick, we are all old enough to remember when these were the most predictable gatherings. nothing would really come out of them minus a communique. that is no longer the case. what are expectations? >> reporter: yeah. i think when you look at it now, expectations are probably at their lowest. i think perhaps that is the thing that -- that is becoming a constant. the communiques and recent global gatherings like this, g20s, g7s are becoming weaker. indeed, emmanuel macron, the french president, has said he won't be putting out a communique now. it seems to deal with the
reality of the situation that the united states is under the leadership of president trump, is out of step with the rest of the nations here. that also is only part of the picture. the other leaders coming here, angela merkel two years left in her leadership in germany, essentially a lame duck leader. her economy weakening, slowing down. the japanese prime minister coming here looking for a trade deal for improved trade relations with the united states. perhaps in the strongest position. but the italian prime minister coming here, he's just resigned, boris johnson, britain's new leader. he's in the job. he may be out of it soon. emmanuel macron perhaps looking to sort of lead the world here in the space where the united states is abdicating. they're setting the agenda here. emmanuel macron saying the world is living through a deep crisis in democracy. he is putting inequality on the agenda here, that's agenda inequality, social inequality.
of course, trade and climate. two of the, they are an anathema to president trump to deal at a multinational level with nepal. that's why i think we're seeing the french president dial pack expectations so far. you're right, storm clouds gathering, yearn coming here look -- everyone coming here looking for sunshine. maybe boris johnson will get some when he meets with donald trump. >> then there's the country that's not there. will russia be discussed at this g7 by donald trump? at least you have a beautiful background to say the least. nic robertson for us. thank you, sir. in a move that could effect u.s. intel gathering in a key global hot spot, south korea says it's ending its military intelligence share itting with japan in the wake of a trade dispute. the pentagon voicing concern and disappointment as it widens the split between two u.s. allies. it may also hinder u.s. efforts to fend off the likes of north korea, china, and russia. let's bring in cnn's david culver live with the latest.
great to have you with us. this is arguably decades in the making as far as the tensions are concerned. walk us through the latest escalation here. and is there any way given the strategic importance here that the u.s. could perhaps mediate? >> decades in the making, no question, julia. and coming really at the worst time when it comes to relations with north korea. tenses here on the peninsula, they are certainly rising. over the past several months, north korea has test launched some eight different types of missiles, and that's caused some unease. and generally when that's going on, you have japan working with south korea, working with the u.s., and sharing intelligence and trying to fully understand what capabilities are with their northern neighbors here. with this now coming to fruition, and we should point out it's about 90 days away between the actual split between south korea and japan sharing this intel goes into effect, but if it were to it would essentially force the united states to have to play middleman
here. so as it was explained to me by the former commander of u.s.-south korean forces, the man who oversaw some 650,000 combined u.s.-south korean troops up in november of last year, he said essentially this would be japan perhaps using one. their satellites, noticing something in the northern part of korea, telling the united states about it, the united states would deem that potentially a threat to south korea, would have to go back to japan say, can we tell south korea about this? if they get the go ahead, then they can relate to south korea. it's incredibly inefficient. that same general, army general vincent brooks, explains why he's still hopeful that there could be some resolution here. take a listen. >> so the next days will be telling to see whether south korea is trying to generate leverage in discussions with japan or even in their attempts to get the united states to help mediate which the united states has been less willing to do, or to deem a greater sense of favor
with north korea and let those who i think are the three potential outcomes from this. >> the general there trying to fully understand what the motivations from south korea's side may have been and leading up to this, julia, he says ultimately he's hoping that the u.s. will back channel this a little before reacting too strongly. he wants them simply to pick up the phone, talk to south korean leaders, and figure out what led up to this and if this can be resolved before those 90 days are up. >> yeah. leverage i think in that trade dispute. great to have you with us, david. thank you for that. brazil's president says his country doesn't have the resources necessary to fight raging wildfires in the amazon rain forest. the amazon is vast, about two-thirds the size of continentalal europe, and produces about 20% of the world's oxygen. the brazil app president opposed by environmental groups is being
pointed to in connection to the fires. >> reporter: fires are ravaging the amazon at an alarming pace. according to the national institute for space research, there have been more than 72,000 fires in brazil so far this year, many of them in the amazon, many of them started by loggers and ranchers. the destruction has really been felt all the way over here in sao paolo some 2,700 kilometers away from the amazon when earlier this week the city was plunged into darkness at 3:00 p.m. it looked and felt like nighttime. environmentalists blaming the government, the president who's repeatedly said that the amazon needs to be developed and has also defunded many of the agencies tasked with cracking down on illegal activity there. ironically, when he was asked about the spike in fires, he blamed the ngos themselves without citing any evidence,
saying maybe they were starting the fires to make him look bad. what's clear is not -- is that not enough is being done to stop them. shasta darlington in sao paolo. nearly 4,000 people have been evacuated in shasta county, california, because of the threat from a fast-moving wildfire. the so-called mountain fire has grown to 600 acres and is 20% contained. authorities say more than 1,100 homes and structures have been threatened. so far, no injuries have been reported. all students, faculty, and staff from shasta college are among evacuees. breaking overnight in central california, at least 27 people were injured in a light rail train derailment in sacramento. officials say 13 were raced to area hospitals when portions of the train jumped the tracks. a few hours ago. fire crews said there were no life-threatening injuries, no word on a cause. more information as it comes in. we're going to take a quick
break. coming up, nobody likes robo calls. i get about three a night. now states and telecoms are joining forces to stop them. the first survivor of alzheimer's disease is out there. and the alzheimer's association is going to make it happen. but we won't get there without you. join the fight with the alzheimer's association.
get your dna kit (now) for just $59 at ancestry.com. we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers. go to shipstation.com/tv and get 2 months free. some health insurance companies set to expand their obamacare offerings next year. the "wall street journal" reporting insurers are looking at stronger bottom lines after obamacare's rocky start. oscar insurance adding six new states including pennsylvania and georgia to the nine it currently serves.
always expanding next year, cigna, bright health, molina health care, centene and anthem. in some cases they're going to nebraska where there have been few options. the expansions come despite the number of customers shrinking overall. that likely due to the end of the financial penalty for going without coverage. the immigration office of the department of justice distancing itself from a controversial e-mail sent to its employees this week. the e-mail included a link to a blog post with racist and anti-semitic material. the immigration judges union said it receives complaints from those across the country who found it offensive. the immigration office says the link should not have been sent. it says briefing emails like the one in question that are prepared by an outside contractor not by the department of justice. one of the largest ever online scams is now history. federal prosecutors say 80 people, most of them nigerian nationals, have been charged in
the u.s. and overseas. they're accused in a widespread conspiracy that stole millions of dollars from businesses and the elderly through a variety of scams and then laundered the money. 14 people were arrested in the u.s. on thursday including 11 in los angeles. all of the defendants face charges of conspiracy to commit fraud, conspiracy to launder money, and aggravated identity theft. robo calls are the targets of a new enture venture between telecom and law enforcement companies. at&t, sprints, verizon, and t-mobile are teaming up with attorneys general from all 50 states. they announced a set of agreed-upon anti-robo call principles that include call-blocking technology at the network level at no cost to phone customers. americans receive ag average of -- receive an average of five billion roby calls every month. >> how many go to your phone? >> about three a night. >> three a night? >> solar panels, all sorts.
i don't have solar panels. insurance. >> i never get a robo call. >> for an accident i didn't have. >> you don't buy the solar panels? not on a new york apartment? why was an elementary school cheerleading team selling raffle tickets for a semiautomatic rifle? who's dog is this? it's my special friend, antonio. his luxurious fur calms my nerves when i'm worried about moving into our new apartment. why don't we just ask geico for help with renters insurance? i didn't know geico helps with renters insurance.
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welcome back. some parents are outraged after an ohio elementary school cheerleading team was asked to sell raffle tickets for a semiautomatic rifle. the children say she received an e-mail last month saying all members of the cheer team including her 7-year-old daughter would have to sell tickets for an am-15 optic-ready rifle to raise money for the new richmond junior lions football and cheerleading squads. >> this is absurd. you're having elementary kids sell your ar-15, why? i can't see them selling some type of semiautomatic rifle when we have all these mass shootings going on going door to door. >> the head of the new richmond football program says he understands parents' concerns and he's given them options not to sell the raffle tickets.
a boy in the hospital after being attacked by a mountain lion in his family's back yards. it happened wednesday when the young boy was playing with his brother and ran next door to play with his neighbor. the lion went after the boy and bit him in the head while he was running. the lions in the neighborhood have been euthanized. wildlife officials note this is the third instance of a mountain lion attack on a human in colorado this year. frightening moments for passengers when smoke filled the cab on ina hawaiian airlines flight. five adults and two children were taken to hospitals after the plane made an emergency landing in honolulu. the injuries, though, described as minor. >> we all had to go like it to breathe. we said, prepare for an emergency landing, and evacuation. >> they came with wet cloths for everyone to breathe through because the smoke was getting thick. >> the airline says a seal failed in the left engine sending oil to hot parts of the
plane, causing the smoke. a tennessee school official is literally giving back to his students. hamilton county superintendent brian johnson plans to spend the $15,000 he earned in bonus money to fund scholarships for his students. johnson says the scholarship will be made in the name of his mother who passed away two years ago. >> she was a pastor's wife, and she raised my sister and i to serve. she raised us to press toward excellence. so we're just excited to be able to allow her legacy to live on. >> terrific gesture. the fund will provide one scholarship for a senior in each of the district's learning communities. coming up, troubling economic signs are harder to ignore. the fed chief will try to calm investors as world leaders converge for the g7 in france.
cracks in the economy threatening a downward spiral. the fed chief will try to calm investors today. top world leaders gathering this weekend for the g7 in france as they try to calm growing concerns back home. brazil's president pointing fingers over raging fires in the amazon. he says they're being ignited to make him look bad. and a school superintendent in tennessee got a $15,000 bonus. what he's doing with it will inspire you. welcome back to "early start." happy friday, everybody. i'm dave briggs. >> i'm julia chatterley. i have to say, hard to recall a choppier 2002 two-week period fe market. and the economy cracks, some self-inflicted by the white house the last two weeks.
the yield curve has inverted. investors demanding high rangerits in the -- higher rates in the short term. reports saying the deficit will soar past $1 million in 2020. job estimates were revised down. the president repeatedly flip-flopped on new tax cuts. there's ongoing persistent trade uncertainty leaving the fed searching for flexibility here. and then yesterday we learned the manufacturing sector is shrinking for the first time in a decade. all that means a pretty big day for federal reserve cheryl jerome powell. -- chair jerome powell. he faces a test with a high-profile speech in wyoming, looking here to reassure investors. he's also facing pressure from president trump and expectations to deliver yet more rate cuts. here's one of the president's economic advisers, larry kudlow. >> i'm not going to second guess jay powell. i'm going to say i think the handwriting is on the wall for lower rates. >> stocks were all over the place on thursday.
up, down, we saw the bond market flashing warning lights yet again that a recession could be coming. only the dow managing to eke out a gain of just 50 points. the "washington post" reporting top advisers notified the president that some internal forecasts showed the economy could slow over the next year complicating his path to re-election. now that contrasts sharply with the positive rhetoric we've heard from the white house. the "post" is also reporting the administration has discussed creating a rotating fed board where only some fed governors would be able to vote at each interest rate meeting. >> meanwhile, the leaders of the world's major economies meet this weekend at a sunny resort in south france. but storm clouds hover on the horizon in the form of disrupter-in-chief donald trump. and with u.k. prime minister boris johnson bringing brexit woes of his own, expectations for the summit are low.
cnn's diplomatic editor nic robertson standing by live this morning. boris johnson, donald trump, what could go wrong? >> reporter: oh, absolutely nothing, dave. i mean, can you imagine it -- boris johnson, who is just sort of clinging on to his leadership in u.k., desperate to get good trade talks going with president trump. that may be the ray of sunshine for the pair of them because they like each other. but the reality is president macro here in france has said don't expect to communicate out of this, trying to avoid the trouble that happened in canada at the g7 last year. remember, president trump left early, refused to sign the communique, have that now infamous stare-down with the german chancellor, angela merkel. that isn't the only reason that the french president is trying to downgrade expectations here. i midsectioned boris johnson -- i mentioned boris johnson, his leadership in the u.k. is under threat. you have the italian prime minister coming here. he's just resigned.
angela merkel, the german chancellor, only has a couple of years to run, a lame duck leader, her economy is hurting in germany. you have shinzo abe, the japanese prime minister, coming here, perhaps one of the leaders here in the strongest position -- the suds out of step with the six other nations here. it's called the six plus one. in a way, there's a reason for that. the united states isn't aligned with the others on how to deal with durable trade, climate change. those are big issues here. and expect iran to come up, as well. president macron sort of stepping into global leadership shoes, trying to tamp down tensions with iran. we'll be looking to president trump to make some concessions on that. will he get them, not clear. again, no communique, and that tells you everything you need to know. this is a group of people who are going to get together and talk, but they won't agree. dave? >> let's just get that group to
enjoy that picturesque backdrop there. that perhaps will calm things. nic robertson, thank you. all right. let's keep on. in a move that could affect u.s. intel gathering in a key global hot spot, south korea says it's ending its military intelligence sharing with japan in the wake of a broader trade dispute. the pentagon issuing not one but two statements. the latter voicing, quote, sk n concern and disappointment as it widens the split between u.s. allies. may hinder u.s. efforts to fend off north korea, china, and russia. david culver is live from seoul with the latest. david, the timing here, whether from a trade perspective or an intel-sharing perspective, particularly with the likes of both north korea and china, actually couldn't be worse. talk us through this latest escalation here. >> incredibly frustrating. i was in this spot a week ago
today, and we were talking about the latest round of test missile launches coming from north korea. eight in total since may 4th. so tensions certainly rising. it's getting complicated when it comes to trying to fully understand what the north is proving with these short-range missile launches. and of course, monitoring them and understanding the intelligence and the classified information shared amongst japan, south korea, and the u.s. is crucial at this time. so to suggest that we're at a point where japan and south korea won't have information going back and forth, that would put the u.s. right in the middle. the former commander of the u.s.-south korean forces here in south korea, he explained this as a very complicated situation now going forward. he said before this pact was in place in 2016, it worked as though japan found something that might be interesting, saw something on surveillance data-wise that maybe impacted south korea, they would have to reach out to the u.s. and say this is the information we have.
the u.s. would then have to go back to japan and say can we share that with south korea, they would have to give permission either way, and then it would be relayed to south korea. you're talking about information that could be greatly delayed if even not transmitted at all. so there is a danger in all of that. the same general, army general vincent brooks, now retired, he stresses, though, there is a period of time now that this could all be worked out. take a listen. >> so the next 90 days will be very telling to see whether south korea is trying to generate leverage in their discussion with japan, or even in their attempts to get the united states to help mediate, which the united states has been less willing to do, or to deem a greater sense of favor with north korea and those i think are the three potential attempted outcomes from this. >> he stresses those 90 days because technically the information sharing is continuing for the next three months before it's completely
terminated. his suggestion, he says if he were still in power and commands, he would hope that the u.s. before reacting too strongly would pick up the phone, back channel things with south korea, and fully understand what their intention here was. >> yeah. that's the timeline. see if something can get done. great to have you with us, thank you so much for that. >> okay. some truly bizarre new claims coming from the man who just resigned as ceo of overstock.com. in interviews including on cnn, patrick byrne added key details to his claim he helped the fbi carry out political espionage. he says he was asked to renew a romantic hardship with an accused russian spy. she's serving 18 months on charges stemming from the russia investigation. >> said and the honorable men in women, the men in black, said we want to be clear, this never happens in the united states. we are the good guys. we don't work like the bad guys. we need to ask you to rekindle a
romantic relationship with maria butina. >> members of the fbi and you know their names? >> i know their names. i was specifically told this request is coming from jim comey at the request of somebody who i'm not going to name. do not assume it's the president. do not assume it's -- president obama, do not assume that. >> wow. byrne did not offer further proof, but former fbi director jim combingy telling cnn -- jim comey telling cnn, that's ridiculous. the fbi doesn't work that way. he stepped down days after putting out a news release entitled "comments on the deep state." he claimed he aided the fbi's clinton and russia investigations, but came to believe they were more about spying on 2016 candidates. the strange announcement triggered a surge in stock price, more than 10% thursday on news of byrne's exit. >> wow.
>> doesn't surprise me. brazil's president says his country doesn't have the resources necessary to fight raging wildfires in the amazon rain forest. the rain forest is vast, two-thirds the size of continental europe and produces about 20% of the world's oxygen. the brazilian president, opposed by environmental groups, is pointing fingers over the cause of the fires. shasta darlington in sao paolo with more. >> reporter: fires are ravaging the amazon at an alarming pace. according to the national institute for space research, there have been more than 72,000 fires in brazil so far this year. many of them in the amazon. many of them started by loggers and ranchers. the destruction has really been felt all the way over here in sao paolo, some 2,700 kilometers away from the amazon, when earlier there week the city was plunged into darkness at 3:00 p.m. it looked and felt like
nighttime. environmentalists blaming the governme government, the president repeatedly saying the amazon needs to be developed and has de-funded many of the agencies tasked with cracking down on illegal activity there. ironically when asked about the spike in fires, he blamed the ngos themselves without citing any evidence saying maybe they were starting the fires to make him look bad. what's clear is not -- is that not enough is being done to stop them. shasta darlington in sao paolo. nearly 4,000 people have been evacuated in shasta county, california, because of the threat from a fast-moving wildfire. the so-called mountain fire has grown to 600 acres and is now 20% contained. authorities say more than 1,100 homes and structures are being threatened. so far, no injuries have been reported, but all students, faculty, and staff from shasta college are among those
welcome back. some health insurance companies set to expand their obamacare offerings next year. the "wall street journal" reporting insurers are looking at stronger bottom lines after obamacare's rocky start. oscar insurance adding six new states to the nine it currently serves. also expanding, cigna, molina, bright, centene and anthem. in nebraska there have been few options. sharch -- the number of obamacare customers is shrinking
overall, likely because the penalty for not having coverage was eliminated. is bernie sanders looking to appease organized labor with a change to his medicare for all plan? according to the "washington post," companies with union-negotiated coverage would have to renegotiate contracts and use the money they save to give union members other benefits. that would effectively give unions more negotiating power than other consumers. analysis from politico says sanders' proposal does not change the legislation but does add requirements for a transition period to a single payer system. >> the question arises is if under medicare for all an employer saves money, as many employers will, what we want to see is the workers themselves get the benefit of those savings, not just the employer. >> the communications director for rival candidate kamala harris who has struggled to articulate her own health care
plan pounced on the change, tweeting, oh, how interesting. i thought no one was awe loued to make changes to medicare-for-all plans at all, forever. the harris adviser is acknowledging the poll that showed a 12-point drop, the lowest so far. they say they're encouraged by private fundraisers which have met andy exceeded their goals. robo calls are the target of a giant tventure between at&t, t-nibble, sprint, and verizon. they've announced agreed upon anti-robo call principles. that will include call-blocking technology at the network level at no cost to phone customers. americans receive an average of five billion robo calls every month and about a dozen to my co-host here. >> yes. make it stop. make it it stop. i know. >> they don't call me. i don't know how i've already blocked them --
access to the most 4k content. and your movies and shows to go. the best tv experience is the best tv value. xfinity x1. simple. easy. awesome. xfinity. the future of awesome. welcome back. superintendents have been issued -- subpoenas have been issued to as many as 20 jail staffers in the jeffrey epstein death investigation according to a source close to the investigation. it the latest yet that some may
face prosecution. epstein was founded hanged in his cell at manhattan's facility. he was awaiting trial on charges of sex trafficking underage girls. a source says corrections officers turned down voluntary interviews unless they were offered some form of immunities. in the days since epstein's death, reports have emerged about mistakes and mismanagement about the jail. now, mit's president says the school is reviewing about $800,000 it received from foundations epstein controlled. he says the school. donate the same amount to a charity benefiting epstein's victims or other victims of sexual abuse. frightening moments for passengers when smoke filled the cabin on a hawaiian airlines flight. seven people, five adults and two children, were taken to hospitals after the plane made an emergency landing in honolulu. their injuries described as minor. >> we just all had to kind of go like this to breathe. said, prepare for an emergency
landing and evacuation. >> they came by with wet cloths for everyone to breathe through with the smoke because it was really getting thick. >> the airline now says a seal failed in the left engine sending oil to hot parts of the plane causing the smoke. a scientific breakthrough could save america's great barrier reef. the florida aquarium in tampa says it successfully stimulated coral to reproduce two tollways in -- two days in a row in a lab setting. the first for coral native to the atlantic. and something experts doubted was even possible. the effort is part of a program aimed at eventually repopulating dying parts of the florida reef tract. miami dolphins owner steven ross voicing his support for his players and their decision to protest the national anthem as the new nfl season approaches. ross has come under fire for hosting a fundraiser for president trump. but speaking to yahoo! finance, he says trump tried to make the social justice campaign about
the military. >> originally i was very supportive because i think it was a message that had to get out. and i've supported the players, and i -- initially. when trump made it about the military, that was a different story. he took that whole message and changed it. >> ross recently removed himself from his post on the nfl's social justice committee in the wake of backlash for his financial support. president trump. >> i love this story. a tennessee school official is literally giving back to his students. hamilton county school superintendent brian johnson plans to spend the $15,000 he earned in bonus money to fund scholarships for his students. johnson says the scholarships will be made in the name of his mother who passed away two years ago. >> she was a pastor's wife, and she raised my sister and i to serve. she raised us to press toward excellence. so we're just excited to be able
to allow her legacy to live on. >> the funds will provide one scholarship for a senior in each of the district's learning communities. a would-be robber in chicago left empty-handed and in pain when he chose the wrong person to attack. claire quinn happens to be a golden gloves boxer. on sunday a man who asked for directions grabbed her, punched her in the head, and demanded her phone. that's when quinn fought back. >> right away she started hitting him wherever she could. in the nearest spot was the groin area. he messed with the wrong girl, and she had some skills. >> quinn suffered a mild concussion and bruising but was clearly the unanimous pinner. she's 6 -- winner. she's 6-0 in the winner and 1-0 out of it, but she will miss this weekend's boxing match. >> i love that story. absolutely. i do not condone violence, but -- >> in the case of claire quinn -- >> serves you right. go, girl. yes, nice.
all right. let's get a check on cnn business this morning. on wall street, right now as you can see, well actually that was a follow through, positive follow through in asia. higher by .5% for the nasdaq. i can tell you stocks all over the place thursday after the bond market once again flashed warning lights that a recession could be coming. just the dow managing to eke out a gain of some 50 points. we did see the s&p 500 and the nasdaq falling slightly by the end of the session. cracks beginning to form in the economy. some of them self-inflicted by the white house. just yesterday we learned the manufacturing sector is shrinking for the first time in a decade. all eyes, of course, on federal reserve chair jay powell who's set to speak at 10:00 a.m. eastern. he needs to assure investors the fed will step in to support the economy if necessary. the expectations for a september rate cut are roughly around 94%.
well expected. door dash his revealed tips on the controversial tipping policy one month after widespread backlash. doordash was criticized for putting customers' tips toward covering the base pay it delivers workers. now its ceo said the minimum base pay doordash pays will increase from $1 to $2, and could be as much as $10. all tips will be added on top of that. doordash will give customers the option to leave tips both before ad after a delivery is made rather than just before. those changes are expected to roll out next month. the new apple credit card is here. but just be careful where you put it. apple is warning customers not to keep the titanium card by leather or denim or loose change. the card can get scuffed up easily, and the damage won't wash off. if you do sign up for the cards,
apple recommends putting it in a wallet or pocket made of soft materials. >> soft materials. well, put it in your wallet seems -- thanks to our international viewers for joining us. have a great rest of your day. for our u.s. viewers, "early start" continues right now. cracks in the economy threatening a downward spiral. the fed chief will try to calm investors today. top world leaders gathering this weekend for the g7 in france as they try to calm growing concerns back home. brazil's president pointing fingers over raging fires in the amazon. he says they are being ignited to make him look bad. and a school superintendent in tennessee got a $15,000