scarlet: stocks are lower slightly after fed chairman jay powell indicated we could see more increases to come this year. i am julie hyman. joe: and i am joe weisenthal and we welcome you to closing coverage. let's begin with market minutes with stocks filing but slightly, we got the fed decision and it was basically as everyone expected. andad the fed penciling three increases for this year 2019.o for there was a bit of a gyration and stocks went back to where they were for the conference began. joe: we were up before the

conference and then modestly lower on the day. overall the news conference not causing a lot of volatility. scarlet: it went as expected. facebook shares have been on a two-day losing streak where they $168 and todayto they bounced back. sheryl zuckerberg and sandberg responded to the data privacy breach. sandberg posting a blog saying an action atgrets mark zuckerberg indicating that facebook will review its platform and investigate all apps and take action. we will see how this shakes out. julie: other interesting thing about mark's posting is that it betweenach of trust

facebook and cambridge analytica and he is saying they did something they were not supposed to do. even at this moment as everyone wanted a response from him he is still shifting the responsibility. he is saying they are making changes, but shifting the responsibility. joe: trying to walk a fine line saying we know that users feel their trust has been breached but there is also a saying that with the policies we had in place had been abided -- scarlet: a little defensive sounding. plungingeneral mills after shipping costs and other expenses sweet margins. squeezed margins. deutsche bank shares are off after less than a week after a bullish tone and the ceo of the bullish bank said that game against the dollar will reduce

by $368 million versus a year ago and called to affect a headwind. and they airlines off tumbled after southwest cut its forecast for a industry revenue benchmark because of step up competition and a drop in travel demand. julie: and so many flights were trapped -- canceled throughout the day. joe: and a look at the bond market in the wake of the fed decision, yields are lower. they increased-- the dot, but that is not how the markets interpreted from the rates side. people think it could have been higher on the dot. julie: and as for the u.s. dollar and in reaction to that lowerl we saw it a late and going the same direction as

rates with the currency as we see this perception that there at least wasn't a confirmation by jay powell and the other fed members that we would see four rate increases this year. some interesting action in the canadian and mexican currencies because we had some indication that the u.s., canada, and mexico is making headway on method and key auto rules. imported in the u.s. and how much of that has to be produced in the u.s. the parties indicate there is wiggle room at negotiating room so we saw the dollar falling versus both the loonie and the peso. the nafta talks are quite important, and then talks out of peru. there is important news that the president of the country resigning in the face of a forthcoming impeachment vote.

that news confirmed in the last 20 minutes or so. we see that is the proving currency-- peruvian creating instability, which is positive for the currency. joe: and a look at the commodities, oil and gold -- oil up 3%. a surprised storage slump showing tightness there, in the last couple of hours this can have interesting ramifications on the economy. and gold after the fed decision is up 1.57%. and those are today's market minutes. scarlet: we return to coverage of the fed meeting and what it means not just for equities but bonds, currencies, and

commodities. the central bank lifted its key interest rate and stuck with three interest hikes. joined us now is romain bostick. no real drama and today's fmo c. by design, maybe. morningme into this looking for a catalyst that could move this market up and you also had a lot of folks preparing for some kind of catalyst back? it down. that didn't really happen at least the broader sense of what was going on in the market. partly does because nothing really changed. what we generally believed to be the case for fed policy going forward is pretty much what the case is now that we have heard from powell. joe: it is one of the classic things where we see a w hipsaw. saw the immediate

reaction wants people had a chance to digest it and they saw that there is not a whole lot here. that you point out highlighted the assets already and we did see further weakness in the dollar which tells us a lot. also saw continued strengthening and gold which tells us a lot. continued strength and small caps tells us a lot and the continued selloff in tech, which was not fed related but when you look at a total market picture you see where investor sentiment is going now that we have the fed meeting out of the way. julie: it is interesting to me the number of hikes big and for the year is still at 3.5. that is where was pretty much before the meeting, maybe a little lower but we are talking hundreds of a point. it is interesting that we didn't see much change here and we did see some volatility and other asset classes as people try to -- romaine: it did not move much

after the announcement. most expectations for a hike going forward is the same and most expectations for a hike going into 2019 is about the same. i think one of the problems that you had was expectations that -- sediment around officials sentiment around officials was that it was going to go up and that did not material and that might explain some of the weakness you saw in the dollar following the meeting and press conference. scarlet: a ho-hum reaction in equities. in general, when you look at different asset classes and you talk to people in your reporting, what as it causes are they looking at to lead the way as everyone searches for a catalyst? romaine: that is a tough question, if you asked me that yesterday i would have said probably it would have been looking more at financials and maybe even tech before the facebook thing blew up. when you saw today, financials did well. pay attention to small caps.

over the last few weeks, small caps became a safe haven for a lot of folks wanted to stay in equities not be exposed to trade risk and geopolitical risk. small caps were up 1% before the market close on the s&p small-cap index and the russell 2000 was also up. you see a little rotation back in their and back in the financials. you see people move away from tech and the dollar to a certain extent. this goes back to catalysts -- what now does the market have to hang its hat on? joe: you mentioned tech and we saw the nasdaq getting hammered and its ill feels like there is jitters there that people -- the headline risk with facebook. are they still dominating? romaine: there is huge headline risk and any tech companies whose currency is the people

behind that data. i think until we get clarity as to what type of punishment we could see or what type of changes in the business model, if any, we could see, it is going to take a while. is still a great growth story when you talk about actual numbers but the incident and the fallout is what people have to parse. julie: inflation came up in the press conference and yulia general mills on earlier, -- you laid out general mills earlier. there's a concern that analyst might expect there could be more of that kind of disruption. romaine: we have indications of this in the days prior to general mills thing. there is softness there, and we had a story citing price pressure at amazon, which is

typically the one exerting pressure. this could actually spill over and say something about the larger and broader economy and -- ornsumers are spending their capability to spend. there is a lot of people standing on the edge to see what direction we had. scarlet: romain bostick, thank you very much. will discuss the story about facebook further and mark zuckerberg making his silence and posting a 1000 work post on his facebook account on the data crisis. will have the latest next. this is bloomberg. ♪

mark: i am mark crumpton with

first world news. president trump is defending his decision to congratulate the americas and i'm his reelection saying his predecessor did the same in 2012. in a tweet this afternoon the president what getting along with russia and others is a good thing, that a bad thing. sellded russia could help -- solve problems of north korea to what he described as the coming arms race. authorities searched the home of a bombing suspect mark condit. they say he blew himself up and authorities believe he was behind the five explosions in austin and suburban san antonio. 's motives are still unknown and authorities caution they have yet to terminate if he left other devices in the area or if you acted alone. the current and former secretaries of homeland security's defended themselves on capitol hill as senators

pressed them on past lapses in state election security and how the country is defending those systems in 2018 elections. kirstjen nielsen testified alongside jeh johnson as the senate intelligence committee launched an effort to protect the nation's election securities after russians targeted the systems and 21 states ahead of the 2016 general election. >> not only is this extreme urgency to the apartment, we are expanding not only extraordinary resources to provide any support at the request of states, but we are prioritizing election efforts and risk and vulnerability assessments to critical infrastructures. mark: today's hearing follows a news conference in which committee members from both parties sent government efforts to protect state and local

elections from russian cyberattacks haven't gone far enough. bloomberg has learned treasury secretary steven mnuchin will hand deliver documents for federal loans to puerto rico's government tomorrow. puerto rico's leaders complain at the treasury has delayed loans it needs to rebuild amid harry kane maria. secretary mnuchin says his number one objective is to ensure puerto rico's secured loans while also protecting taxpayer interests. global news, 24 hours a day, powered by more than 2,700 journalists and analysts in more than 120 countries. i am mark crumpton. this is bloomberg. we have breaking news crossing the bloomberg. a u.k. based household products company has an did its bid -- or ended discussions with pfizer acquired the company's health care unit. their proposal was only for part of a business in a deal for the

entire pfizer consumer health business did not fit into its deal criteria. julie hyman is reminding me that t was one of two companies that submitted nonbinding bids and other suitors bowed out. there weren't many bidders in reckitt benckiser has bowed out as well. that is the share performance over the past day in london trading before the news broke. after days of deafening silence mark zuckerberg the social media to finally address cambridge 's crisis. to sector data and if we don't, we don't deserve to serve you. the statement comes as lawmakers from what you to demand answers over how the personal data of

millions of his company's users could be exploited at a consulting firm linked to donald trump's campaign. joining us now from san is shira.to discuss when you look at this response now, silence not only between zuckerberg and the public but even between zuckerberg and his own employees, what you make of this response? it is a thoughtful response and there is a open question if whether he should have said something five days ago instead of now. in that important thing post from zuckerberg are what the next steps facebook is going to take, and that includes things like auditing how developers use facebook data before they change the policies and 2015. and to find out if there are other cambridge analytica like

companies that take advantage of facebook's lax data collection policy in 2015 to siphon data on tens of millions of facebook users. that is going to be an interesting thing to see if and when facebook makes public the results of that audit. joe: the last quarter for facebook was may be the first quarter ever in which they saw a sequential decline and north american activity. it is hard to tell anecdotes but you see people saying i am going i amt off a spec now -- going to get off facebook now. have a bigger issue on their hands in terms of usage and people engaging with it that could accelerate and become a business problem? >> i think that is the biggest question facebook faces.

has there been a permanent loss of trust among facebook users and a month the advertisers large and small that are responsible for 97% of facebook's revenue? i do think we'll know the answer for a month if not a year or more. you are right, that was alarming that in the last quarter facebook described a slight and temporary decline in monthly users in the u.s. and canada. it does feel anecdotally that you are right, there are more people turned off by facebook for various reasons, including the day-to-day scandal they have been in since the 2016 elections. i agreed that it is going to be a huge -- it is a existential risk if people stop using facebook because they feel facebook isn't trustworthy or is full of garbage or other reasons. berlet: there might questions of distrust between

facebook and users and advertisers, but it is to elect government officials are already there and they don't trust facebook and they want to hold mark zuckerberg or sheryl sandberg to explain what is going on. trial lead toic more distrust on the consumer side with advertisers? or would this be a political theater? >> you never know what happens when executives get called before congress or other regulatory boards. it is a wildcard. those of us around remember bill gates and his disastrous testimony to congress years ago when microsoft had antitrust and other scrutiny. arguably that was damaging to microsoft for a long time. bill gates seeming arrogant and clueless. uave zuckerberg is not s

in communication and if he does a awkward testimony -- it certainly going to be a headline risk for facebook whether it is a permanent one, i don't know. people remember the bill gates testimony more than a decade later and shows there is a hangover affect with executives, not being good communicators in front of congressional hearings. julie: zuckerberg has chosen to communicate with users first. shira.ou very much, let's get more insight now, joining us is neil ferguson and he is on the phone with us, caught in the winter storm in the northeast. thank you for joining us. that historyook, can be divided into periods dominated by networks and hierarchies, presumably we are in a network cycle right now.

what does the facebook story tell you of where we are in this cycle? niall: it is something i saw coming when i wrote the book, the arrogance in silicon valley. and sherylberg sandberg badly underestimated the risk they were running, particularly with regards to the 2016 election. i can't say i am surprised that cambridge analytica story is the one putting this on the front page and attracted the attention of regulators. this was going to happen and i they did not pay attention to the role they played in the election and they did not need warnings, including warnings from well-informed people who were invested in the company. they are paying a heavy reputational price. joe: when you say you are not surprised by the cambridge analytica story is what

catalyzed this, is that because this example in theory could contribute to a outsider like donald trump disrupting the political status quo? is that was pumping such a backlash? niall: you have to bear in mind that silicon valley is overwhelmingly liberal. peter tilde regards it as a one-party state in his words, and that of these people expected that their technologies what helped donald trump of all people to become president. it is very obvious, and they want about it, that facebook is vital not only to donald trump's election vital to the forensic campaign in the u.k. months before. cambridge analytica has popped up already as play some part -- it is hard to see what the part was, and now it turns out to have been a nefarious part, making available the data of 50

million facebook users to the trump campaign. you mentioned facebook is paying a heavy reputational price and hierarchies and governments around the world want to exert control over facebook, calling mark zuckerberg before congress and other parliamentary bodies. when that change anything and give networks less power, or this particular work less power? niall: this is a big change -- hierarchies always strike back. there comes a point where disruptions caused by networks get to bed for established governments and it was a matter of time before the regulatory landscape started to change. is already changing in europe and are clamping down on the big tech companies. they have been subordinated to the congress party, and the question is what is the united states going to do? is it going to break up tech companies in the name of

antitrust? is it going to increase liability in the courts with exemptions under legislation? i don't know the answer to that question and i don't think anybody does. have been in washington for a good deal lately and i asked what are you guys going to do, and status quo is not sensible anymore and it is not clear what the outcome will be. want exactly certain in my mind, the status quo that kurt predatory landscape in the u.s. cannot continue because facebook can't be relied on. in the public spirit they are vast, it is the biggest publisher in the history of the u.s. and mark zuckerberg has more power -- and get it is related is a technology company with no liability to the platform. same: quickly here, at the time zuckerberg has his power not because of the government but because of the people and his users.

you can have regulators get involved, but what it would ultimately causes respect to lose power, if you did see a lot of users leave, is that what is going to happen? niall: is the reputational risk they have to worry about. i wholly agree that the fact that young people are leaving ofebook -- the vantage point facebook's leadership -- that is the significant. scandal is going to involve a change in relation and there could be a big change in public sentiment. we know from financial history that the companies can go from heroes two zeros very fast. the backlash against microsoft, which referenced, companies can find the reputation to be -- the key to your existence. is trust and facebook, existential. scarlet: we have to leave it

there. will be right back. ♪ mom, dad, can we talk?

sure. what's up, son? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us."

that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. mark: here in new york city the latest nor'easter is set to drag on the into the evening and you're looking at live pictures in midtown. much of what fell in and happen has melted but forecasters warned the city is still on pace to get between 10 and 14 inches. airlines counsel thousands of flights. the mayor urged residents to stay at home with the worst of the storm expected after sundown. the white house is planning to announce tariffs meant to punish china for the pet of

intellectual properties and the measures will be unveiled tomorrow and will not include restrictions on chinese investment in the u.s. or student visas. in rwanda, african leaders sideways been called the largest free trade agreement since the creation of the wto. the deal boosts trade between african nations and helps them rely less on the volatility of commodity prices which affect many of its exports. trade promise of a free and free movement is prosperity for all africans. because we are prioritizing the production of value added goods ade inrvices that are m africa. absence wasotable nigerian president over concerns ms. country's top labor council.

police in athens used pepper spray with scuffles with protesters who are attempting to disrupt an option of foreclosed properties. protest against the auctions with greece under pressure from bailout lenders to ease the strain on banks stemming from a backlog of bad loans. the options are a key component of bailout talks with creditors. global news, 24 hours a day, powered by more than 2,700 journalists and analysts in more than 120 countries. am mark crumpton. this is bloomberg. let's get a recap of today's market action with u.s. stocks declining but these are not a declines, the dollar tumbled and treasuries rallied and this comes after the federal served raised interest rates and jay powell, the new chairman came less hawkish than some investors were anticipating. you could argue the statement was hawkish but the news conference was less hawkish and on the whole, and be less

hawkish? joe: not a massive reaction on the decline,. you look at the dot plot and where they are arranged, there's speculation online that the folks who were more dovish were actually people who were not voting members. even when the fed tries to be as transparent as it can -- the company session plays a big role in influencing business decisions and david westin sat and johnson & johnson ceo here's what he said about the relationship with the white house. >> it is important for industries to be talking to the government. having a relationship and understanding how important they are as a customer and a stakeholder is critical. i have had the opportunity to work with many presidents in my role in different administrations. it is only by sharing ideas and

developing an understanding and developing appropriate partnerships in other areas that we can work collaboratively and solve the issues that we are talking about data entry here today. i would expect that to continue. with this demonstration there was outreach early on and there's issues we had to manage along the way. in the end i think it is going to be incumbent for all business leaders to try to engage in a positive way to bring about positive change. julie: we can catch the full interview with alex gorsky tonight at 9:30 p.m. your time right here on bloomberg. the crown prince makes his pitch, prince mohammed is looking to sell himself as a decisive reformer to do business with. bloomberg news sent out with his finance minister about who they are talking to. >> we have meetings with the

usual suspects. we have a good relationship with big institutions and we will be meeting with morgan stanley and goldman sachs -- citi, bank of america -- large institutions. for more we are joined by hans humes. we talked to a number of countries, has saudi arabia's pitch succeeded? is this a good investment for international investors? hans: i think for investors like us, not so much. in post-2009 with dubai and the saudi has been running at a deficit and want to close with that the sales of remco on the exchange. it is a huge outreach effort and i think investors should look at this as a equity opportunity.

the compression opportunities that bonds used to have -- but there is no distressed opportunities yet. will have to wait and see how the 2030 pivotal work and how they can change the economy. scarlet: i want to bring in the saudi arabia and minister again because he make comments about the remco ipo. >> the ipo is on track, as i said before. we are assisting international markets -- new york, london, obviously the radical market in saudi arabia. no decision has been made. scarlet: it seems this is being tracked that longer than it should be. what is the holdup? hans: it is a valuation issue. scarlet: they have a certain number in mind? hans: the valuation of oil

around 70 is pretty aggressive wasaramco, so i think it difficult for them to get the interest they wanted to get done here. joe: he talked about the vision 2030 plan. lookingf your years and at restructure and reform economies -- is there anything you can think of that could be comparable to this? hans: singapore way back when. scarlet: way back when. [laughter] hans: there are more failures and trying to do this. generally when you try to do a given especially on a economy like this that is so oil dependent, the entire economy grew up -- pre-1979 saudi was a diversified economy, but it really wasn't compared to neighbors. the underlying think here that is tricky is you look at how

they have positioned themselves now. this is a very political pivot. the allies they have chosen here is basically the united states and israel. i am not sure how stable of an ally the u.s. is. there is a lot of back and forth with the russians and turks, and yet the iranians in the backdrop. while the iranian economy a smaller than the saudi's it is much more diversified so this is a tricky pivot on a number of fronts. a coulter change trying to diversified economy that was an export economy. -- so it ispulation doable, but given the pressures and the region and the political juggling that has to happen -- it is not going to be easy. i think for direct investment opportunities some people could make a lot of money to succeed. julie: i want to switch gears to

talk about something else he talked about in the past. --ther oil dependent nation venezuela. we got confirmation that the trump administration was banning purchases of cryptocurrency sold by the venezuelan government to try to pressure the government. what do you make of that? what you make of investing in venezuela them in the isolation? hans: i would have been disappointed if they didn't sanction because a reading of -- involvement in the petro it is not a cryptocurrency, it is a way of borrowing. cynical it you are is a extremely cynical mechanism for destruction. long-termat is a very better investment opportunity in saudi arabia. yet more upside in fixed income.

bonds are trading at 25 and $.30 on the dollar, and they are far in excess. the distress in venezuela is a better play. in terms of sanctions expect washington -- they're not going to have a lot of wiggle room to make it through. joe: when i heard about the petro, i thoughts was a joke. the fact they continued to go with it surprised me. how seriously in terms of examining venezuela did you rate up and figure out what it was all about and think about whether it was a mechanism that the government might raise funds? hans: i didn't waste a lot of time researching it. is that something that was dead on arrival. the fact they talked about it reflects more on the people managing the economy there been any particular attractive opportunity. julie: does regime changed the

cap in there to make the investment profitable? connect the dots for me. hans: in some ways it is a subtle question. needs to be something that looks like a regime change. the look at some bob way, u.s. lifted sanctions when bobby's enforcer took him out -- mugabe 's enforcers to come out. this the crocodile change stripes? [laughter] there still needs to be something good enough for the c to say.ently in d i do think anyone in the international committee is supportive of venezuela. they maybe able to look at the cubans and iranians to get around sanctions but they don't have time.

something will happen and maybe there has to be compromise if you look at ecuador. is guy integrating ecuador the vice president for the outgoing president back then. scarlet: thank you so much. coming up we dive into jay powell's first fed meeting. subscribe reminder to to our weekly podcast on itunes and it is called what you miss. our favorite interviews of the week. you can listen to them on audio and it is the perfect way to spend your weekend. scarlet: i think hans is a confederate this week. this is bloomberg. ♪

julie: let's return to the fed meeting, this time to the charts it joining us is matt, our chart master here. let's talk about what happens next. what people wanted to know from today's meeting from the press conference. judging by the first chart, was the read on that? wethe take away is that what got from jay powell today was a little more dovish than expected. you can see here we have the white line showing the probability of three plate hikes in 2018 based on futures. the blue line shows the probability of marked by tags, and that four or more number has been coming up. earlier today it was all the way up to 33 and 35% come it was close to becoming the model expectation for markets. jaycan see after death

powell press conference it came back down to 25%. and executive house cemented expectations for three versus four. we will we get going forward. joe: it wasn't exactly dovish but it was the high and risk -- high end risk taken down. scarlet: unemployment is another factor because that was one of the wall mandates. one of the highlights of the press conference is they are looking for a 3.8% rate at unemployment. we haven't seen that for a long time. >> the 2018. is putting the money where the mountains, that is what is in front of us. they raised the 2019 and 2020 dots, so that was hawkish and markets discounted that and the reason they raised those dots, the you said, they reduced

and implement rate forecast and what you see is the two great lights showed that and implement forecast. the red line is a hypothetical, basically what they're going to need to do after the unemployment rate falls to get it back up to 4.5% estimate of the initial rate. rate.the usual now we have this figure increased that is potentially going to have to engineer and that is why you see higher interest rates in the out years in the dot plot. this is what they are grappling with. joe: the fed is going to try to increase unemployment? >> that is the plan. it could happen if we don't get a bigger pickup and wage growth. scarlet: that is not a good headline. joe: probably not. let's look at your last chart, fedless -- with the atlanta

wage growth that came out yesterday, that is the blue line. what is the connection here? >> we were talking about this with carl riccadonna earlier. the reason they think they need to raise the unemployment rate up is they think that these numbers are were to continue going up as the unemployment rate falls. interestingly we haven't seen that over the last several months or a year now. the blue line shows the atlanta fed meeting and wage growth is rolling over and so has services inflation, which is the white line. pricesng cell phone because that is something the fed has been focused a lot on. you can see that is definitely not the only thing going on in the inflation data. services prices, inflation has been moderating. if that continues to happen then maybe you see them reducing those estimates and also a slower pace of rate increases

going forward. maybe three instead of four. scarlet: any guesses as to what will be the wireless plans going forward? [laughter] >> not really seeing signs of any data of inflation expiration and i think that chart shows you why. scarlet: matt, they do for joining us. , a etf, and we have more on ashr. this is bloomberg. ♪

julie: it wave of investments heading is, plans of dollars of funds is heading to china minted stocks after the inclusion and

indexes. i spoke to deutsche managements capital markets and bloomberg ons reporter earlier today "etf iq" and we began by asking if that ashr etf is one way to get ahead of the wave. ashr is the first one outside of asia to give investors access to the chinese mainland, and that is key because prior to that people were able to invest in hong kong so it is a big way. it is more of a conclusion story, it is more than 400 billion. big wave ofre is a sanctions and tariffs and plans by the white house -- will they feel more pain because of that? >> the current tariffs and steel and aluminum aren't material. 1% of the chinese

steel production, and tomorrow we might hear announcements which might be focused on intellectual property. >> i want to talk about the lack of tech, that is only 9% of tech waiting and that is the real driver of flows. you say that could change with the chinese government looking home, is that cal right? >> you can't have a second listing here at home so this is about the change at some point and chinese authorities are considering making those changes, because alibaba is up more than 100% from last year and companies like waymo are up 154%. the chinese authorities want local investors to participate in the rally. it is confusing, it is a a a bit soup and complicated, and you guys have this product which is the all china etf.

it basically wraps it all up and it is in hitting the easy button with china. what you think is the issue here? evolving andis shares are coming in and investors are getting axis and inclusion is increasing access. if you want a pure play on china, gives you a market cap agnostic.es you stock we are starting to see this evolution and get feedback from institutions that you need a china sleeve of its own. it is no longer is small part of the emerging market basket. it is going to be a stand-alone position and we think these products will go up tremendously over the next few years. scarlet: when you think about the china conclusion story, that is affecting etf's overall, isn't it? >> is a big story since late

lester and early this year. -- since late last year. china. because of vanguardindex -- and still has room to go. inclusion -- last friday if you days ago, you still want to participate in this china rally. you still probably want bigger china exposure. and this is what we are seeing in the price-performance. scarlet: that was luke oliver. and a programming note that numbered etf iq will be at a new type starting next wednesday at 1:00 new york time. joe: coming up, what you need to

know. this is bloomberg. ♪

♪ >> the fed raised interest rates. the dollar fell. pretty simple.

bank of england's rate decision is tomorrow. >> i will be looking at initial jobless claims. those come out at 8:30 a.m. eastern. >> nike announces its earnings after the bell. given the recent troubles with athletic apparel retailers and management changes? >> that does it for "what do you miss." bloomberg technology is next. >> have a great evening. this is bloomberg. ♪

♪ >> i'm mark crumpton. you are watching "bloomberg technology." abc news reports fired acting deputy fbi director

andrew mccabe oversaw federal criminal investigations into jeff sessions nearly a year ago. the probe reportedly looked into whether sessions withheld information when testifying before congress about contacts with russian operatives. president trump is defending his decision to congratulate russian president vladimir putin on his reelection, saying his predecessor, barack obama, did the same in 2012. trump tweeted "getting along and russia is a good thing, russia can help solve problems from north korea to the coming arms race." authorities searched the home of the texas bombing suspect, who police say blew himself up as they closed in. authorities believe he was behind the explosions in austin and suburban san antonio. andsuspect's motives whether he acted alone are unknown. it is the first a of spring and the eastern u.s. has another no