one analyst says the shanghai composite is a good gauge of sentiment as the country sees more growth. >>> hsbc cut its gdp forecasts for the region. learn more about the bank's downgrade online. follow us on twitter @cnbcwex. political deadlock in egypt allowed violence to erupt. can a solution be found? for the latest after this break. [ male announcer ] it's time. time to have new experiences with a familiar keyboard. to update our status without opening an app. to have all our messages in one place. to browse... and share... faster than ever. ♪ it's time to do everything better than before. the new blackberry q10. . where will it send me... one call to hoveround and you'll be singing too! pick up the phone and call hoveround, the premier power chair. hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair, deliver your chair, and will service your chair for as long as you own your chair. most importantly, 9 out of 10 people got their hoveround for l

the shanghai composite tumbled 2.4% today. hang seng in hong kong lost 1.3%. banking shares bodiroadly weake. many think this will make the sector more competitive and could possibly hurt lenders' net interest margins. in japan shares of softbank had quite a volatile day of trade. rising as much at 1.7% before ending down by 3.4%. the turnaround really happened after s&p's downgrade of the stock by two notches. for the broader nikkei 225 also extended weakness in late trade. the index lost 1.4% today. meanwhile the region's resources shares also lost ground, atrackiatrack i -- attracting weaker commodity prices. china's largest gold miner tumbled almost 7% after profit warning. atlas iron and newcrest also took the brunt of the selling today. >> thank you for that. we'll catch up with you later. >>> we've been watching events, fast moving events in egypt. these are the latest shots of tahrir square. we're also getting -- we'll be out with the latest on that and reports of those deaths as well. tanks apparently still blocking the bridge. at the same time, tensi

the shanghai composite also in recovery mode. it finished flat today but added 1.4% on the week as liquidity fears subside. no such euphoria in south korea. shares of index giant samsung electronics dropped almost 4%. the company predicts a record q-2 earnings but misses analyst forecasts. in australia, crown gained 3% after local lawyers backed the plan to open the second casino in sydney. but its rival echo entertainment group slum pd over 5% today. also in the gaming space, a decent debut from casino operator makel legend in hong kong. the standout loser was china ro rongsheng industry. the country's largest ship builder expects a net loss for the first half this year, and reportedly has laid off 8,000 workers. it is also looking for help from governments and banks to renew its credit facilities. back to you. >> sixuan, thank you for that. >>> markets, trading fairly cautiously. we're up a quarter percent in the ftse, the ibex down slightly. cac fairly flat. bond markets, the reaction to what we saw from the ecb and the bank o

the shanghai composite reversed early losses closing higher by .6%. chinese banks and property developers rebounded after the recent tumble. the nikkei 225 was the market lager ending lower by .25%. shares of softbank pulled back 1.6% despite getting the final approval from u.s. authorities for the sprint nextel takeover deal. the stock had gained over 80% year to date on hopes for the largest overseas acquisition in japan's corporate history. another standout loser was denshoot. they plan to issue $1.2 billion of new shares to help fund a uk acquisition. higher metals prices today. a jump of almost 7% today. and atlas iron surged up nearly 10%. back to you. >> thank you very much for that. >>> let me tell you what's coming up on today's show. as egypt swears in an interim leader, looks to new elections, we'll be live on the ground for a look at the post-morsi transition. and singapore's sovereign wealth fund is facing questions over exposure to chinese banks. we'll hear from the head of the markets group at 10:30 cet in the first on cnbc. and we cros

the shanghai composite g gained .2% today and wrapped up the month 1% higher. the hong kong market taiex and south korea under pressure today. in japan, hitachi shares got a boost, closing higher by nearly 3% in today's session after raising its first half profit outlook. batterymaker gs yuasa soared over 7% thanks to better than expected quarterly results. but taiwan's htc took a beating, down almost 7%. the smartphonemaker had little sign of a turn around anytime soon. in china, property developers were the top gainers today as the company's politburo sounded a positive tone yesterday about promoting healthy development of the property market. china merchant jumped more than 4% today and the other two smaller players, they surged up by 10%. back to you, ross. >> all right, sixuan, catch you later. >>> the fed is wrapping up its two-day meeting with a decision expected at 2:00 p.m. eastern. fed watchers will be looking for any clues on when central bank may start its tapering bond purchases, but they will stress any action, still conditional on the economy imp

the shanghai composite dipped below the key 2,000 level. weaker by 1.7% today. investors also worried that beijing's plan may prompt banks to tap the markets to raise the fund. as a result, banking shares in some of the property plays as can you see from the first row, they took a beating. but it was a sunny day for those solar panel makers as they rallied actually after the eu and china reached a trade deal over solar panel on terms favoring beijing. it surged up by 10%. in japan, nomura tumbled by about 5.7% today despite reporting a strong profit growth. this as markets are more concerned about declining trading volumes. and a stronger yen as ross just mentioned that it took a toll on exporters, especially automakers. mazda lost despite a strong profit outlook. and mitsubishi motors tanked 10%. no such worries for rivals hyundai. the south korean automaker has extended its 11-day winning streak, up another 2% after it reported strong earnings last week. and kia motors also ended marginally in the green. back to you. >> all right, thanks very much for that. we

the shanghai composite extended a three-day losing streak, down half a percent today, despite the pboc's comments to maintain prudent monetary policy. hong kong and south korea ended marginally in the green. and australia's asx 200 showed pockets of strength, on hopes that a possible call for a federal election could ease the country's political uncertainties. in china, authorities published a list of companies ordered to reduce overcapacity. among them, paper producers came under some pressure. chungming paper, down by 1% to 2% in today's session. but some bigentm rallied on hopes they won't benefit from the industry consolidation. and beijing's mini stimulus package will help boost demand. anhui conch gained by about 3%. nikon tumbled nearly 4%. and shipmaker had an operating loss for the june quarter. samsung electronics also lipped nearly 1%, despite posting a record q-2 profit. more on that with sherry in seoul. sherry? >> thanks so much for that. we have been warned of such slowdown in the growth of this smartphone market in recent weeks, right? this time coming directly from samsu

citizen in shanghai in connection to the probe. joining us from beijing is cnbc's eunice yoon and staying with us in london, gina sanchez, chairwoman and founder of comma chantico global. >> we now know that there is another foreign national and u.s. citizen, an american, who has been detained. we don't know the name of this person, however we do know that this person, according to pfizer, eli lilly and glaxosmithkline do not work at those companies. the whole health care industry is very, very jittery. everybody is on edge and want to disassociate themselves as much as possible from an investigation if at all possible for them. the -- you had mentioned also there are -- that we really are seeing a widening investigation. there were two more people at astrazeneca who have been called in for questioning. this is after a local sales representative was taken away. also, the health ministry of china has said that 39 hospital staff would be punished for t e taking bribes from two drug companies. we don't know exactly which companies tho

the shanghai composite jumped to almost 2% and the hang sang hong kong gained 2.3%. elsewhere, japan, south korea and australia, those shares all ended in positive territory. in china, as you can see from the first row here, banking shares made a strong rebound on both mainland and hong kong forces. local analysts suggest the interest rate reforms will have limbed impact on the short-term while lower interest rates will support growth in the real economy. the property sector which has a relatively high dependence on bank lendings also enjoyed the rally. china merchants gained almost 6%. and chinese railway stocks also chugged ahead on hopes of a supportive measures. cfr corporation gained over 8%. on to japan, mobile carrier softbank was the outperformer on the nikkei 225. soared by 5% after reports that it will raise the bet 35 million u.s. dollars to stock new smartphone hand sets. south korean technology shares also rallied ahead of earnings results. lg electronics gained almost 4% and samsung electronics rallied almost 3%. let me quickly show you gold miners. the

it says it can confirm that it was visited by the shanghai public security bureau. it says it believes the investigation relates to an individual case. and it says while we have not yet received an update from the public security bureau, we have no reason to believe it's related to any other investigation, saying astrazeneca is committed to acting with integrity at all times. >>> still to come on the show, the co-chief executive of german software company, s.a.p., is to move to the company's supervisory board. how does he feel about it? find out as we bring you an exclusive enter rue with the man himself right after the break. >>> and we'll leave you with a look at how futures are trading ahead of the open on wall street. we'll be back very soon. [poof!] [clicks mouse] there's doughnuts in the conference room. there's doughnuts in the conference room. automatic discounts the moment you sign up. with the spark miles card from capital one, bjorn earns unlimited rewards for his small business. take these bags to room 12 please. [ garth ] bjorn's small business earns do

the shanghai gained 1% and up a stronger 2.3%. shares in hong kong, korea and australia reacted cautiously. the kospi and australia's asx 200 closed marginally in the green. local media reported the trial program may expand to london and singapore with a higher quota. the trading system may significantly boost the transaction volumes, therefore benefiting brokerages fee income. shares of gf securities and he everbright gained. china's tech space also got a lift up by beijing's recent plan to speed up the it technology space aiming to expand the size of the sector by 2015. internet giant tencent, shares gained 3.7% today so really outperforming the broader hang seng index. japan is set for a public holiday. samsung electronics reversed early weakness to end a tad high and automakers rebounded strongly with hyundai motors making gains. muted gains in the australian market today. the strength in banks were offset by weakness on some profk taking. >> sixuan, we'll catch you later. the vow to fight in the bastille speech days after los

following yesterday's 3% surge of the shanghai composite led the decline in the region, down 1.6% today ahead of the key data due out next week. mainly banks lost ground. beijing has already been drafting plans for promoting interest rate liberalization and may soon scrap the floor for lending rates. markets fear this will bring more competition and squeeze bank net interest marriagens. gains on the market, tanking nearly 6% in today's session. q-3 operating profit came in worse than expected due to discounts and marketing expenses. goldman sachs cut the outlook for the financial year. the worst performers in south korea were hyundai and kia motors. shares plummeted about 5% to 6% in today's session on worries that their car sales may dip in china as more chinese cities may restrict new car purchases. and the australia market, the best performer for the week, gaining nearly 3% over the past five sessions. gold miners like newcrest, evolution and kings gate, they once again outperformed the broader market jumping to 9%. back to you, ross. >> sixuan, thanks for that. that's where we stand

the shanghai composite jumped nor m more than 2%. brokerage and banks extend their gains in the afternoon session as we see that founder securities surged over 8%. and property developers also among top gainers. china merchant s jumped nearly 9%. and among the actives in hong kong, jewelry shops outperformed. shell soared over almost 13% after importing over 60% surge in its q-1 revenue helped by the gold rush after the price of bullion plunged. consumer mood slipped in both japan and australia in june. index giant fast retailing waved on the nikkei 22 5 down 1.2%. in australia, retail chains were also broadly weaker. harvey norman down 2.4% today and surf ware company billabong plunged another over 10% falling yesterday's 16% tumble. back to you. >> all right. thank you for that. now, shares of burberry beat expectations with an 18% rise in retail revenue for the first quarter. they saw double digit growth where the latest collection received a warm welcome from rich chinese shoppers. burberry maintained fw eed guidr the year but wa

the headlines, market shanghai, tokyo reverse early losses. they shrugged off data while the japanese business mood survey turns positive for the first time in nearly two years. nokia has agreed to merge with siemen's. analysts cheered the deal but worries about the telecom group's cash position. the opposition protests in egypt called on president morsi to resign. >>> you're watching "worldwide exchange," bringing you business news from around the globe. >> all right. welcome to the show. we had issued with the mikes. we have data out of the eurozone. manufacturing pmi. showing some signs of stabilization this morning. the final eurozone posting the index up to a 60-month high, 48.5 in june, but below the break-even 50 level that divides growth from contraction. some interesting numbers as far as this is concerned. spain up to 50. that stabilized easily. that is still the 23rd month of contraction since the high in july to 11. factories also reducing head count last month, but at their slowest pace since march 2012. for germany, factory outpu

your, from your cell phone when you're downtown, you need to think that maybe there's a teenager in shanghai doing the same thing with the air-conditioning for your phone or for your house or something else. the web has made the grid extremely vulnerable to hacking and to disruption from cyber effects, and that's not all. .. >> to make it even a little more unpleasant, there's another way to create an electromagnetic pulse of that sort and i would be with a nuclear detonation but it does not need to be a nuclear detonation carried by weapon as any actress at all or shooting at a target on land. at a city or anything like that at all. it me don't explode when and low-earth orbit, and we now have north korea has launched one satellite and had three nuclear tests. iran had launched three satellites, and someday before too long, my hunch will be, will have a nuclear test. if you have a satellite and it have a nuclear detonation, even a very simple one, having an electromagnetic pulse generated at 100, 200, 300 miles, wherever, over an area can produce either a total or a very, very close to tota

so for some people when they went to shanghai the had the conversations. you couldn't find anybody more reasonable and so on. but back in washington. >> i was the editor of the college paper so we had a certain tasks. >> the one area where the opinion is now the most focused is the cyber threat where they seem to be different from other states sponsored espionage. what is your view of that? >> i had the opportunity to talk with a person in the fbi who was one of the people in charge of the cyber warfare. and i said to him there is an influence on silo warfare meaning from china. so afterwards i said is it true [inaudible] [laughter] but we don't talk about that. >> i agree. people made that same point, too. i don't think the u.s. uses the state cyber for the commercial ends. it seems to be the distinctive trade. they used the nuclear weapons and the soviet union with confidence-building measures and all that. let me ask you different -- >> we are just having the two sides. the chinese -- last week the falafel of the response was the sort of thing that we n

earlier this morning, they board add bus in southeastern china headed to shanghai, that airport in shanghai. they're expected to land any minute seoul, south korea and proceed on to sfo. chinese media reporting they will go directly to the hospital to see the teens still being treated. >>> we are getting an update on the number of victims still hospitalized. san francisco general received 53 patients after the crash. 36 have been released. 17 remain in the hospital, six in critical condition. at stanford, all seven children taken to lucile packard children's hospital have been released. they were some of the 55 people rushed to the two stanford hospitals on saturday. ten adults remain in the hospital in stanford this morning. st. francis says it has one remaining patient but he or she is not in critical condition. st. mary's has four patients remaining, none in critical condition. >>> a scott's valley man thankful to be back at work. he was one of the survivors from asiana flight 214, his name, elliot stone, owner of the elite martial arts academy. he was greeted by the welcome home sign fr

their flight left from shanghai moments ago. once they land, they are planning to meet with the san mateo county coroner to try to figure out how these young girls were so sadly killed. we're learning one of them may not have died on impact. >>> "today in the bay's" marla tellez is live at the coroner's office in san mateo. she joins us now with the latest. >> laura and jon, good morning to you both. within the last 15 minutes we learned the parents of the victims have left china on an asiana airlines flight, essentially the same route that flight 214 took which means they are bound for seoul, south korea and will land at sfo potentially as early as this evening. the first order of business once they arrive is to come to the san mateo county coroner's office. we have new video that shows the teen's parents boarding a bus in china with a delegation ultimately headed here to sfo. the parents of victims wang linjia and ye mengyuan had the best intentions for their daughters, sends them to the u.s. to learn english and prepare them

it's not clear at this hour if their plane had left shanghai. chinese state media reports once they land they'll go direct tloi the hospital to see the teens being treated. the students and teachers who are out of the hospital and not hurt are currently staying at a local hotel. >>> some of the victims of that crash was still being treated at san francisco general hospital. that hospital says it's received 53 patients immediately following that crash. half of them adults and half of them children. of those patients, 36 have already been released. 17 still remain hospitalized including six in critical condition. we're learning this morning all seven children taken to lucile packard's children's hospital have been released. they were some of the 55 people rushed to two stanford hospitals saturday. ten adults remain in that hospital at stanford this morning. as for the other local hospitals, st. francis says it has one remaining patient, but he or she is not in critical condition. st. mary's has four patients remaining, none in critical condition.

that is until asiana airlines flight 214 originated from shanghai, china, with a layover in seoul, south korea. the plane took off from korea at 4:35 p.m. local time. after traveling for more than ten hours and more than 5600 miles, it failed to reach its destination safely here at sfo. according to witnesses in the airplane and on the ground, the boeing 777 came in on final approach a bit high. according to flight tracker.com, this line shows the normal approach for commercial aircraft landing at sfo from the south. it shows a gradual dissent from about 3,000 feet over san francisco bay and a dpliglide t touchdown on the pavement of the runway. this, however, is the flight of 214. a bit higher approach, and steeper dissent. the pilot then appears to have reduced power and the plane came in too low. witnesses say the pilot struggled to gain more altitude, he boosted the plane's power and raised its nose to get more lift to make it to solid ground. but as he did so, apparently, the plane's tail hit the end of the rock wall separating the extended runway from san francisco bay. that impact

it's ages 13 and up but my first man was in shanghai learning english as a second language. i started in september when i was abroad in london and i followed until now and i'm planning on doing it when i go back to college. it's great because i take classes. i'm sorority but when i come home at the end of the day i can tutor him. >> earn money. >> create a resume. >> just spend whatever you have got. baby silting, anything, put it on there. >> do your research. >> a lot of programs are available flt summer programs for your state and local government. look into if there's anything like that. >> advertise your availability. >> a lot of these sites you can set up your own profile and let the work come to you instead of going out to get it. post on these sites. post on facebook. put the word out to your family and friends and get out there and do it. >> be creative, be enterprising. good combination. lucy thank you as well. >> up next, struggling to find a weight loss plan that works for you. we'll have the best of the best when it comes to new diet books. but first, this is "t

they especially need o-negative blood. >> asiana flight 214 originated in shanghai before stopping in seoul on its way to san francisco. the airline says there are 16 crewmembers on board and 291 passengers. 61 americans were on that plane. there were 141 chinese passengers, along with 77 south koreans and one japanese citizen. the remaining passengers were flying under passports from canada, india, vietnam and france. >> a peninsula woman who saw the plane crash from her home also saw another plane crash at sfo 45 years ago. barbara forest and her husband looked out the number of their burlingame home after hearing a loud bang. they got out her binoculars and she used her cell phone to record this video. this is the second time she's seen a plane crash from her home. she also saw a japanese plane crash into the bay. >> it was called a miracle crash because all 107 passengers on board lived. to see this again is surreal. i don't think i really am internalizing it completely at this point, to be honest. i think i'm in shock. >> the 1968 crash was caused by heavy fog. the plane itself m

and asiana flight 991 for shanghai. that was taking off from south korea and was operating a boel 777-400. it crashed and two of the crew were killed. the worst loss of life was 66 passengers and two crew died back in july 1993 when one of the boeing 777-500's crashed. it was the southwestern tip of the korean peninsula, there has been a small handful for the airline what is also up to today a particular aircraft that has a good safety record around the world. >> arthel: thank you very much. we want to let you know we are waiting for a press conference at reagan national airport. n.t.s.b. is going to brief us on information they have at this juncture on the crash landing at san francisco's international asiana's flight 214. ten hours and 23 minute flight from seoul, south korea to san francisco. at as dominic, it's, indeed, the long range plane that is a workhorse of those long range flights scheduled to land at 11:26 this morning in san francisco. the airlines is one of two majorer south korean airlines. you have korea

. >>> the ill fated asiana flight originated in shanghai. roughly half of the passengers are chinese and about half of those are students headed to a camp in the u.s. the chinese consulate is working to help them with things such as passports, jade. >> reporter: heather the chinese consul general met with chinese students aboard that 777 right here at this crowne plaza hotel a few hours ago. one person told us he had dinner with the group and then meet with each individual to discuss concerns. shortly after the crash, officials identified the two young victims. those same outlets posted photos of anxious parents waiting to hear from their students. even a letter to the airline where the girls lived. the consulate general held a news conference most of it in mandarin. >> yesterday was saturday, we received the very productive assistance from the u.s. >> reporter: the consulate described the chinese student groups bound for u.s. travel when the plane crashed. >> there are three, three groups. one of them the summer camp group, obviously three

. >> the plane originated from shanghai and our crew applied foam and water to the fuselage. >> reporter: this picture taken by a cabdriver who heard several loud booms before the crash shows thick billowing smoke. >> we see people who said they are live and walking around. >> people are walking outside of the airport. >> yes. >> it's where the 28. >> chopper 2 shows the barely there top of plane and debris wreckage everywhere. >> when we arrived on scene, the ute chutes were deployed to and we observed multiple numbers of people come down the chutes and walking to their safety. >> there are people right adjacent to the numbers. we can see two or three people that are moving who survived. >> reporter: some passengers were even found near the water. firefighters confirmed two hours after the crash, two people did not survive. authorities found the bodies outside of the plane and still there were others that they couldn't find. >> not everyone has yet to be accounted for. >> reporter: initially the number of passengers unaccounted for was as high as 60. a number that later disappeared due

the shanghai stock exchange at a whole has a further downside run to go. we're not finished with it. i wouldn't criticize the chinese authorities at well, doing the right thing, trying to reduce speculation in the property sector in the short term is the way to go, but if you are an looking for a three or six-month opportunity, it's negative. clearly the negatives that you're hearing about china or the equity markets i think you'll continue to hear, and on the listed equity market, it's very difficult to see anything positive that's taking place in the short term. the other aspect of this is that china is faced with the headwind that is coming from the reversal of the federal reserve policy, and to the extent there's a tapering of quantitative easing, it is going to affect all emerging markets and:exclusive. we've seen that in india and brazil, two currencies where the equities and currency markets have taken a big hit. overall the short term where there's very little to shelter from in the emerging markets, but then as you said to begin with, the u.s. dol

in fact, shanghai delivery of gold contracts is basically 50% of all the gold production year to date. so there is strong demand for the physical element. >> okay, so where do you see gold going, then? >> well, what i always look at are two factors, the fear trade which we often focus on here on negative interest rates and m monetizing at the debt. the other part is the love trade. it picks up steam around july and august and runs to the chinese new year. will it be as great as previous cycles? i don't think so because the gdp in china is flat. it usually has a very strong love trade dynamic to it. i remain bullish, but i instruct investors just have a 5% in gold and rebalance. >>> the u.s. dollar is down today, but it is up nearly 5% this year. is now the time to buy the dollar? let's ask managing director at bk asset management. is this king losing its crown or is it time to double down on it? >> i think it's a great time to go long dollars, mandy. i think we've had a nice little pullback, and even today while the dollar is down, you've seen some really significant reversals which t

she's from shanghai and she talked about what it was like inside the plane. she also mentioned her 4-year-old son dissustain a broken left leg, but she was able to get out of the plane miraculously in a huge hole that she was able to carry her son and some of her bags out of the plane to get to safety. >> it sounds as though you were very calm throughout this. were you calm? >> sorry? >> were you scared at all? >> i had no time to scare. i had five family member in hospital. i needed time to take care of them. but yesterday night when i was in dream, yes, i was scared. i had no time to think. >> what kind of injuries did your son have? >> broke his left leg. >> how difficult was to get off the plane? >> not very difficult because we sit near the big hole in the plane tail. it's broken, yes. it's a big hole. and the passengers near the plane tail just walk out from this hole. >> you can describe the kind of passengers in the back of the plane in was it a group of high school students? >> yes, we had group passengers. i also see korean passengers because i sit

at san francisco international airport. 307 passengers and crew aboard that flight which started in shanghai, connected in seoul and landed in san francisco. 182 people were taken to area hospitals with injuries ranging from critical to minor. and two 16-year-old girls were killed. the plane was coming in dangerously low and clipped a sea wall and shiring off its tale and skidding to a stop and catching on fire. >> it sounded like we were about to land. the nose of the plane goes up a little bit. and we start hitting, hitting hard. and then we felt like we were going up again. that's why i said we felt like -- he was going to pull one of those miss landing and go back up. and it did not happen. if we flipped, none of us would be here to talk about it. >> an official investigation will take months, if not years. we want to go to cnn's miguel marquez. what do we now know pending the investigation of the flight recorder and other things, what do we know that can be considered facts that will contribute to our understanding? >> reporter: a couple of important data points. passengers on the plane

now, the developer is sending a team to shanghai and beijing to sell even more units. we'll see whether there is enough new chinese wealth to fill all 96 floors. back to you, carl. >> it's interesting, robert. i have seen a couple notes looking at new york real estate prices and what they have done. the argument is they can't continue to go as quickly as they have because of smaller numbers of international buyers, fewer cash deals, all of that. >> that's the one hand. ornd, you just had richard smith on making the point that inventories are very tight, demand is so strong. so the question is has the local buyer market remained so strong that they can pick up the slack from these foreign buyers? we'll see. we could see this foreign buying taper, but the market now could be strong enough and tight enough it's okay without them. >> a different kind of taper to think about. robert frank, thanks very much. they're not disconnected. the fact that the fed is tapering, that u.s. financial conditions have tightened, people are pulling money out of emerging markets, all that me

. >> surprisingly it is a no brain inner beijing and shanghais that you do that but it has been somewhat surprising that in the second and third tier markets of course you have less penetration of imax theaters, but seems to be holding up well there, too. >> how big are you ultimately going to get and where to next? >> the market we said about 450. if you add the theaters, we put in, we announced today those opened in backlog that gets us to around 275, 280, something like that. we're about two-thirds through. however, as the demographic and the income levels keeps going up, i expect that will go up. other markets that we have been going to that have been doing very well recently is western europe we were a little late to the game and the reason was because it had an established infrastructure and now we're building that out nicely. i think we're starting to see -- >> building out in western europe now. >> yeah. i think the old movie infrastructure was such it was hard to put in imax theaters in the markets and now with so limited growth in europe, i think the idea of taking an existing

shanghai stocks, you think they'd be down, no, up 2%. bad news is good news. now they're speculating that the people's bank of china is going to cut interest rates and they're going to do stimulus, so chinese stocks had the best day in a long time up about 2%. i think that was the best day since march overall here. elsewhere, let me move on. if you think there's problems with money trying to find a home, there's plenty of money out there. did you see this announcement? kkr announcing they're going to start a new $6 billion asian fund. the asian markets have underperformed dramatically this year. japan might be the one exception out there. but there's no shortage of money trying to go into asia. they open an office last year in singapore, specifically to look at the possibility of adding into their investments there and that apparently is now happening. obviously the story is buy into consumer growth. but as you see in china, that consumer growth is getting a little bit harder to find here. there's been a lot of speculation about whether higher interest rates a

shanghai index, though, did finish higher. inter-bank rates continue to moderate. sentiment of big manufacturers moves higher. first time it was positive since 2011. nikkei responds. hits a one-month high. in europe manufacturing pmi's, they clocked in better than preliminary reports first indicated. some strategists say, listen, don't expect the ecb to shift their monetary policy positions until their meetings on thursday. in a half hour you'll get the ism manufacturing consensus. looking for a rebound from 49 to 50.5. finally, let's talk techals. i was on the phone on the spx, katie says a short-term loan has been established. she is looking for positive follow-through, she says, in this holiday shortened week. guys, back to you. >> all right. thanks very much, josh lipton. talking about deals this morning. we did get one. it's tribune, and it continues an important trend that we've been highlighting here, which is some of the larger players in terms of station ownership getting even bigger, and benefitting as a result. actually, hadn't even had an opportunity to

shanghai down 2.4%. in europe, though, you do see a lot of green arrows there as well the biggest gains coming from germany. the dax is up almost 2.4%. the footsy 100 is up by about 1%. we're kind of bouncing off of what happened on friday when we got that better-than-expected jobs report, that did send stocks higher on friday. ilt it fueled the tapering. doin joining us is dean baker. also, tony fratto, managing director of hamilton play strategies. tony, i was a little surprised when i read through some of your notes. it sound like you are worried the fed could pull the rug out from unthese markets too quickly. >> i have felt this for a while. i have been surprised about the rush to get into talking about the tapering. i have been saying this. i feel like if there is any risk of us, a lot of people talk about america is turning into japan because of what the fed is doing. i don't think it's a real parallel. one parallel i worry about is the choking off of, you know, organic growth, getting to organic g

almost 2% in shanghai. the nikkei down 3.3. do the math. that would get your attention. then in europe, they're all up. but not much. let's look at oil. the oil board, that's been stubbornly above 100, but coming down slightly, $104.53. the ten-year, i saw, was at 2.56, almost 2.56. dollar n , if we're going to europe, it's got to come down. the euro, slm 1.43. gold on a little bit of a run. i'm thinking about buying some. >> really? >> because of man q. i read man q.'s piece in "the new york times" over the weekend. he mentioned buffett and all the people that don't like it. just because it's noncorrelated with anything else. he says 2% of your portfolio could be in gold. >> are you going to buy it anyway? >> no, no, no, no, no. >> store it. >> yes. if i could find a place to buy them where i didn't have to buy a big -- not a lot of them, but i'd maybe buy a few of them in case i need to bribe someone in the future for something. >> always thinking. >> for something. i'm not sure what. but if paper money is ever useless. it could be food. it could be passing -- you know

nikkei up by about 15 points, shanghai com positiposite down . and in europe, things are bury bunchidge there, as well. modest advances. >> today is about the intersection of policy and investing and economics. and no one better equipped than david mccormick, bridge water associates co-president and member of the management committee. he was treasury undersecretary for international affairs during the bush administration. brid bridgewater has more than $150 billion under management and the world's largest hedge fund. thanks for coming in. so we'll hear a couple things in the next frankly half hour. we'll hear from jack lew on dodd-frank and i want to get your views on that but we're going to get bernanke's testimony at 8:30. what are you expecting to hear? >> i think what you're likely to hear is what you've been hearing. if you would step back and said how would we have expected if this was managed well the qe process managed well, how would we sxrekts this had to go. >> that implies you don't think it's being managed well. >> no, i do. i think

the response, of course, still to those fed comments, giving a lift to the shanghai composite, up better than 3%. 2% for the hang seng. nikkei adding a little as well. given the strengthening of the yen, a sign of progress, a welcome sign, you could say. the european market, ftse 100, up .7. better than 1% for the xetra dax. >> you can read either one there. when i read this, they walked in feeling strong. and then within two days, going, no, i don't know about -- we can't -- the 85 billion -- what if we do -- none of them had any -- do they? >> i think they need to let the economy react. the economy is like a 12-year-old on a bike with training wheels. we can just -- >> you got a keynesian on steroids here. you think there is not enough ink and paper in the world. >> monetary policy has not stimulated the economies of europe or japan or the united states. >> she's glaring at you. >> i think it felt evident. it doesn't take much to look around the world and see who is being accommodative, in response to what conditions and what are the markets and economies doing in turn. >> will we ever

that's giving a boost to the stock markets in hong kong and shanghai, though a different story for the japan benchmark index after hitting a new six week high briefly, the nikkei closing down 56 points following trade results from china. also fed minutes will be on the minds of investors this morning. minutes from the latest policy meeting out at 2:00 p.m. eastern. traders looking for any further clues on when the fed will begin to scale its bond buying program back. and we'll have more coming up on that with chief economist and managing director of global research. checking europe, right now red arrows across the board there, as well. cac off, ftse off, and the dax off. but not horrible. and brent pushing above $108 as china's imports of crude fell 7.4 7.4% from the previous month. the spread between brent and west texas intermediate narrowing slightly making wti more attractive to investors. >> blackberry is reportedly going to cut more jobs. "wall street journal" says the new cuts will come at middle management levels in the sales and support divisions. that would be on top of 5,000

the shanghai markets are all ending higher. the nikkei actually closing at its highest level in a month. you see it up 1 and a quarter percent. european shares are higher as investors digest a slew of numbers coming in, the including the latest figures on manufacturing and employment, investors are focusing on the manufactured pmi. again, if you take a look at the european markets, you will see the dax is up .3 of a percent. and the kak is up by .7 of a percent after closing at its worst quarterly drop, gold is bouncing back this morning. it's helped in parts by the san francisco fed president john williams. on friday, he said he is backing off his view the fed should start cutting stimulus this summer. you are right, backtracking on all of this stuff. gold is up by about $15.16. back to $1,042 an ounce, gold is taking a toll on investors in david einhorn's green light capitals. that fund was down nearly 12% in june. it's down about 20% for the year. >> here in the united states, despite shortened week, on once, adp is out with

cctv, shanghai. >> music and technology go hand in hand. it becomes increasingly difficult and less lucrative to sell music, artist's are relying tech companies more than ever. the companies are moving beyond creating sounds for artists into marketing and distribution. >> jay-z's new album, magna carta holy grail, has not officially been released, but it has ordered gone platinum. well, sort of. these extensive not by one million copies of the record, which would traditionally give patent status, but samsung today. they are giving away one million free downloads of the album to users of the galaxy phones. it will be available through an app as of july 4, 72 hours ahead of the official release. media experts think this will help samsung sell more phones and drive more traffic to the online music store. >> it is about brand image. this is a market that is very sensitive. if you have people perceiving jay-z as being hip, that helps the overall brand. >> not all celebrity endorsements help. alicia keys'involvement with blackberry has not revita

worst were, well, july, 2011 cargo flight bound for shanghai that had taken off from south korea crashed in south korea apparently had a fire in the cargo department. at two crew there died now in july shortly after the airline lost it was a boeing 767 and that had taken multiple landing attempts due to the particularly bad weather at the time. airline there lost 66 passengers and a few crew as well. the industry surprised this airline considers it's record and boeing wanted to get involved being given the reputation being trusted in the sky it will want to be looking into what went wrong here. the investigation is ongoing. back to you. >> all right, thank you so much, dominic. >> joint statement being released by department of transportation and faa saying both agencies are working to help the ntsb with the investigation now ongoing. going on to say our thanks go to first responders and thoughts and prayers go tout passengers and crew of the crew and families. a team from the national transportation safety board on its way to washington from washington rather to san francisco right now.

with this flight starting in shanghai, thank you for that update there. and an important bit of news there, south korean officials saying, the ntsb investigators already continuing to stay on top of that. we will keep you updated and we will look at the other majorer stories in the world today including the ongoing crisis in egypt. the supporters of morsi want him returned to power. the great outdoors... ...and a great deal. thanks to dad. nope eeeeh... oh, guys let's leave the deals to hotels.com. ooh that one! nice. got it! oh my gosh this is so cool... awesome! perfect! yep, and no angry bears. the perfect place is on sale now. up to 40% off. only at hotels.com to sha-cool. get it? [ male announcer ] new gold bond powder spray. cool, dry, no mess. stay cool with gold bond. to the right of the screen, live pictures from san francisco international airport as we update you on the breaking news, the flight came in for the landing right there, something went wrong. witnesses reported the tail of the plane clipping the edge of the run way. it spun around an

s a tragedy on so some people i mentioned schumer, when he went to shanghai and had conversations about china, it was like he was talking to a different man. find anybody more reasonable and amiable. full of in washington, fire. >> he was the head of the young democrats. college editor of the paper. we had certain tasks. area this point, the one where i think a troubled u.s. now most focused is threat.a china has sort of state-sponsored commercial espionage. view? your talkhad the opportunity to with a person in the fbi who's one of the people in charge of the warfare. again, cyberwarfare. made said to him, he just t -- wasn't that long, about the terrible threat with cyberwarfare. i asked him -- what i asked him i said, isn't it true that -- oh, don't worry. i've proven that. but we don't talk about that. and -- and i agree with that. and the people i talked with ast week made the same point too. i think the point one, the i don't think the u.s. used a state or cybercommercial end. other may be off of the threat. it's a cyberattack. it's something with confidence-building measures and

it's located in a non descript building in shanghai. mulvenon says the frequency and severity of attacks are reaching new highs, and that the u.s. government and american industries have had enough and are mobilizing. >> chinese cyber hacking has been going on for a long time. what's new is that were finally fed up and want to do something about it. >> reporter: republican congressman mike rogers, the chairman of the house intelligence committee has proposed legislation that would deny issuing visas to chinese citizens involved in cyber theft, and to freeze their assets, too. >> this is all about making sure that those actors that we can identify, and believe me we can identify them. they understand that they understand that there is a cost for their cyber espionage. >> reporter: democratic senator carl levin and three senate co- sponsors want to take the profit out of cyber-crime. they've introduced legislation that block products that used stolen intellectual property from entering the u.s. market. >> you got to hit people in their wa