Skip to main content

tv   Whatd You Miss  Bloomberg  October 2, 2018 4:00pm-5:01pm EDT

4:00 pm
areing lows and well clearly signs of distress in europe. thes perceived that backcourt is relatively contained in europe still but the risk.o watch for >> as we go to the closing bell, we'll get people to take on the banks and how the contagion could affect. the s&p 500 was higher at the start of trading but became lackluster. the dow jones industrials was on the back of stocks like boeing. up 127 points but a lot of gainers in terms of market leading the intel way, also caterpillar and 3m the dowg, boosting jones industrial average, the and nasdaq lower. >> we've seen markets quite
4:01 pm
s&p hitting all-time high. dow hitting a high. change yourake you mind and say, you know what, right now this market looks economicod in the situation isn't bad. >> i wouldn't say trade is sort off the table. as i said, there was a deadline. it would havel -- been worse. we didn't do a lot on it but we signed something and said we've done a deal. what i would see is a little bit more consistency. we talk about july, where is the russell? it's back to where it was in july. neares, the s&p's are their high but breadth is terrible. go downend to -- they suddenly.and then textbook case will actually be facebook if it takes out the cambridge analytica low, 150.
4:02 pm
it in thealk about news when it goes down slowly but when it goes down suddenly, it's there. i want to see a pickup in aggregate demand. job growth has been steady, it hasn't picked up. there's a lot of running in place. i want to see us make progress. notable that facebook down about 2% again today. it's very ugly but on the other hand couldn't be it argued that it's bullish that this market can take the collapse of the can take an extraordinary plunge in former and theip like facebook overall indices don't seem to mind. peter: yes. with as an "or" question yes. it could be but that's not how we're seeing it because we see last generals. the industries are cap weighted. look what apple has done. composition and responsibility for how much of the indices are related to apple amazon and google. if and when you pull that away
4:03 pm
and we've seen that previously, i just want to go back. that tops tend to be made on so i'm goings to -- if we're going to break 2011, really good news. what happened? >> i don't remember. the person --m i'm full of insignificant news. when when osama bin laden was captured or killed. it happened to be a monday and the market opened way higher, the s&p's yesterday. markets top on good news. they don't top on bad news. what are the signals in terms of whether these record highs will be the top? think you watch a lot of different things, frankly, but ofhave a whole hit list things for what usually signals a top in stocks. ashink you have sentiment one signal to watch. overall bullish sentiment, deteriorating breadth on the technicals.
4:04 pm
have accurately forecast every turn in the last cyclicald we look for totor earnings growth deteriorate. start to see start to see unemployment rates rise and initial claims turn over if we're turning into a recessionary scenario so there's a handful of things that we watch. right now the thing i'm watching most closely is margins. there's a risk to the earnings outlook which has underpinned this advance of the there's a risk to that, it will show up in margins before anything else. >> what's also interesting here is how other asset classes are behaving. you have the dollar oil pricesng and rising, as well. joe: got to talk about oil right now. today butdo anything see four-year high, many momentum to the upside. how does that factor into your view? particularly as someone who's kind of a deflationist.
4:05 pm
peter: i find oil particularly interesting. we're at 50% retracement from high of 2008 to the low of 2014, now back to a four-year high so it's a critical level. it factors in because of effects.ion i think that's important and terms of gasoline which hasn't gone up as much as crude has so that's not causing a problem as one would think. >> gina, we started the on pepsico and perhaps dollar playing into that. i want to end on the fact that dollar, these things at play. they dictate so much what's .appening day in emerging markets in many ways. will that continue? gina: if the dollar continues to move higher, absolutely. i'm not certain the dollar will continue to move higher. think technically it started a breakdown that occurred over the
4:06 pm
and weuple of weeks might have room to the downside but in the short run because of happening in europe, it is creating a dollar reinflation fory which is not good emerging markets. >> our thanks to gina martin adams, thank you so much. peter, you're staying with us. i want your thoughts on the state of the consumer. you like to look at visa gauge of where the consumer is and so far it's up.ing peter: those stocks have been monsters and i want to thank whoever is participating in those markets because it's kept me out of a lot of trouble because intellectually, as you negative onaid, i'm the market but it's a disciplined approach. we like to say price makes news, andthe other way around those stocks are indicating that right now the consumer is ok. now, do they sell off, is the high in crude reflective of lesser demand? haven't seen it yet. they maze -- may do highs.
4:07 pm
as of yesterday, they were down fractionally today. to discipline and listening to those two stocks. >> maybe we should listen to well.er names, as investors and insiders have been pepsi possibly considering a move into the cannabis business but were disappointed after the company's c.e.o., hugh johnson, shot don johnson, shot don speculation during a call with investors. >> anything that falls into the snack and beverage, we're clearly interested in but it has to fit in with our trend withs, on consumers, it must have growth outsized andt look as we go through those screens, few things that match up against those screens so we're disciplined about the capital.nage >> we want to talk about the future of the snack and beverage with bloomberg's food and cannabis reporter, craig
4:08 pm
giamoto. consumers looking for healthier has seennd pepsico that play out but cannabis is a ready to go asot far as coca-cola is. craig: taking a path on what is -- buzzy, super food ingredient. joe: that's so old-fashioned, following the law. craig: companies like consolation, coca-cola, looking safe place to do this so some being more whenssive at a time consumers don't want sugary sodas and looking for something growth going forward. joe: they might reverse in a month or so? craig: i think all beverage
4:09 pm
companies and tobacco companies figure out what this will look like in the u.s. and situation. >> i like that you said it says something about the times when your shares fall if you're not getting into pot. see are you seeing when you mini bubbles arising, particularly with pot stocks? peter: i'm only looking at cannabis, block chain, bitcoin, buzz. it all in oner place. bullish on the medicinal impact and what it's going to be going forward in cannabis. where it is today, it's like every nascent industry. a tremendous amount of entrance. you'll have a lot of losers and butll have fewer winners until the -- you need money and the u.s.deal with banking situation and the ability to take profits and flow through the banking system and reinvest, it's going to be very, very lumpy. the notion of just doing
4:10 pm
ok buting in canada is then what are you going to do, oh, i forgot, we just signed great trade agreement but i don't think anything in there says you can take illegal substances in the u.s. and bring them in. it's a round-trip to nowhere. to live by. craiganks to bloomberg's and peter borish is sticking with us. up in "what did you miss?" we'll look at the risks in emerging markets and why one investor is warning of the risks of jumping in too soon. ♪
4:11 pm
4:12 pm
4:13 pm
. of how u.s.snapshot stocks closed today, the s&p 500 but dow jones industrial average at a record high. joe: the question is "what did miss?." caroline: the combination of riskynds that can make it for investors to steer away from u.s. equities. tesla announces it missed its the model target for 3. and amazon workers get a raise. is world's largest retailer raising minimum wage in the u.s. to $ 15 in the u.s. joe: emerging market assets, firmed up after the panic selling of late august? and to talk about the risks challenges ahead, global head of
4:14 pm
currency strategies at brown harman, and peter group.of the quad is there any sign of turnaround yet? a selloffittle bit of again today. looks like the down trend is continuing. see any signs of a turn? >> not yet. ask how far are we em selloff and i'd say it's about half however. we have tightening in the pipeline, e.c.b. tightening next tightening rates, canada tightening rates. in trade tensions, risk with china-u.s. trade war, a negative backdrop for em. negative near term. maybe midyear next year we can turnaround.
4:15 pm
joe: how does oil factor into the macroeconomic backdrop? exporters, the colombia, russia, middle east. importers,u have korea, taiwan. net-net, it's hard to say. i think china is a big part of the story. holiday this week but over the weekend it released softer-than-expected september numbers so suggesting the slowdown is still in play. in the basic case, they can muddle through but it was warned that i.m.f. will be releasing lower growth forecasts in the globalek or two so the backdrop is not as constructive started theen we year. caroline: there was a tweet put out by an investor saying is it trade but history
4:16 pm
suggests the conditions involving slowing global growth can be a disruptive combination emerging economies. are you cautious, peter? peter: absolutely. feel that and that u.s. andth is going to follow slow dramatically, maybe as soon as the latter part of this and certainly next quarter. if you look at the components. caroline: the u.s.? peter: yes. caroline: is it time for into emerging get markets? peter: no, because they're a beta of the u.s. go down gradually and then suddenly. point he was making is just because you're down does not mean it's time to buy. you have to look at the fundamentals, what's happening. you look at the technical condition and at the end of the day it's supply and demand and there's way much excess supply in terms of what's going on
4:17 pm
ofrseas, both still in terms commodities. even potentially with regard to oil. thes gone up because of uncertainty with regard to iran and exports but we're producing the u.s.y here in imagine what happens if the conflict with china expands and to take our oil. what happens to the domestic price of u.s. crude and what to the high yield u.s. and look where that ratio is. that's all the way down. orif that was a commodity stock, everybody would say i high yield that because it's way down. an emhen you talk about bottom, you say six months or next year -- but in terms of the you would look for, what are they? what are the actual signs that buy? say it's time to >> one thing is for trade uncertainty to clear up. at this point neither china or
4:18 pm
the u.s. shows signs of backing down. thea is a huge part of global supply chain so can have emergingfects through asia and i think that will be well into next year. signs, believey it or not, talk about slowdown in the u.s., that's the million question, not if, but when does the u.s. slow. is confidented about the u.s. economy, saying full speed ahead, we'll hike again in december, three times next year, one more time in 2020. of softness may get the fed to be more cautious. governor powell seemed to inject a note of caution at the jackson hole conference so that might relief on the interest rate side but as you pointed out, having slower u.s. growth is not to the global growth story for em so it's a mixed bag em. joe: part of the argument for em just because of the broader macroeconomic picture
4:19 pm
but resolution of trade issues. factor in?at win: for instance, i think ofico is breathing a sigh relief. from my limited understanding of the ultimate negotiations, it huge gamen't a changer. tweaks here and there. u.s.-mcaanded it as right now but it's not a magnificent trade deal some are saying. free traderea agreement has limited changes so if the whole u.s.-china can it's not a huge upset of the global supply chain, i em could get traction but the longer the uncertainty goes on, i think the markets don't it. caroline: great analysis, win hariman.wn brothers breaking news on retail, j.c. penney has a new c.e.o. with
4:20 pm
more than 30 years experience in the retail industry. currently the stock is up 1.3% after-hours trading. they like the fact that there was a strong slate of candidates right personor the to lead this iconic company, rich apparel and experience.g joe: looking at that j.c. penney a chair.$1.58 go up.: only one way to peter: when a nickel move is 3%, there's a long way to go. caroline: j.c. penney, with a hours..o., rising after coming up, good news for tesla. 3 sedan is helping elon musk getting closer to profitability.
4:21 pm
4:22 pm
4:23 pm
romaine: today, a slew of reports from automakers on sales for the most recent month. tesla was probably one of the names in terms of attention but g.m., ford, quite a few numbers, reported fairly good numbers but the overall trend suggests the passenger car market. craig trudell who leads our auto us.rage is with tesla hit that 5,000 a week mark, right. that's good. but they didn't reach the 6,000 ramp-up they promised. craig: 6,000 a week was something they promised by the end of august and then they went silent so that -- we'll see when they get there. but the big number range that they did give going into this quarter was they said they were
4:24 pm
going to make between 50 and 55,000 and would deliver more than that and that was a significant win for them that they were able to pull that off. obviously on the production side, they've had real progress, even if they've come up short of the 6,000 a week. for them to sort of have a smoother ramp-up and put on thishasis 6,000-a-week and focus on consistently making doesn'ts in a way that compromise quality, that's the key for them. joe: there are other american tesla wenies besides should mention occasionally. g.m.?appened with craig: the frustrating thing with general motors is they've gone from monthly to quarterly so we have less insight. what we can say, two things that are really important -- passenger car sales are really in trouble for the whole industry. that's hurting them in a big way. also, on the pickup side, they have the oldest pickup on the have ram coming
4:25 pm
out with new trucks. we have ford's trucks are only a is still old and g.m. in the process of getting its new pickups out and until they the a lot of those in showroom, they'll have trouble keeping up with the joneses. lostine: they seem to have their spot. how is chrysler pulling it out bag?e craig: ford slipped behind fiat chrysler. also the s.u.v.'s are getting long in the tooth so the escape is in a segment that's the hottest part of the market with crv.oyota rav-4, honda that's where you need to be to keep up in the market and that in need of redesign. romaine: we saw strength earlier year in auto sales. was that from the individual consumer, people like you and because it seems like the narrative in the most recent report didn't bear that out.
4:26 pm
craig: it's always tough to judge retail versus total sales fleets until toward the end of a sales day or later on that week. but one thing we can definitely say is a major factor this month is a year ago, it was the first month after arricane harvey and there was huge snap-back from hurricane harvey. houston is a major metro market for auto sales so the amount of replacement demand made of 2017 sort of the blow out month of the year so we this tough hill to climb year. joe: car sales can be seen as a proxy for consumer strength and the economy overall. these numbers today, what do they tell you about that? craig: i think it does tell us that interest rates matter, that up,owing costs are going that is having an effect on auto sales. and definitely the economy is strong but auto sales are not going to be able to keep up with the record levels of the last
4:27 pm
years.of caroline: interesting bellwether. to haveudell, great you. chucking the business headlines. wanttors apparently pepsico to say yes to cannabis. shares fell slightly after c.f.o. hugh johnson said pepsico theno time to invest in emerging industry. was-cola said say it looking at cbd, the nonpsycho cannabis.ponent of amazon is raising its minimum the u.s. and u.k. employee base. u.s. workers will get $15 an november 1.ng amazon says its public policy team will lobby for higher wage.l minimum we will have more on that ahead. and that's your business update. we'll check in on how amazon continues to perform after that announcement on its employee base. u.s., u.k., from new york, this is bloomberg.
4:28 pm
4:29 pm
4:30 pm
>> president trump says the sexual misconduct allegations against his supreme court nominee brett kavanaugh show it is a very scary time for young men in america. the president said men are presumed to be guilty when women accused them of sexual misconduct even if there behavior has been "exemplary." he said he's hoping kavanaugh is confirmed this week. speaking to reporters, the president said that is dependent on what the fbi finds in its investigation. a rare show of bipartisanship. republican senator jeff flake
4:31 pm
and democrat chris coons of delaware shared the stage at an event sponsored by the atlantic magazine and the national constitution center. senator flake last week demanded a one-week delay in the confirmation vote for judge kavanaugh. he did so after a brief conversation with senator kunz, who expressed concern about the lack of stability in congress and throughout the country. >> we are an exceptional nation and we are at risk of losing it all to a populist mob mentality where no one can win because everyone must lose. it is up to you folks. i have eternal gratitude to my friend jeff for making us take one week and look at each other and respect each other. [applause] senate majority leader mitch mcconnell said democrats have opened what he calls the floodgates against judge kavanaugh.
4:32 pm
he added that a confirmation vote will take place this week. the pentagon says the fbi is investigating after at least two packages were found suspected of containing ricin. officials say one package was addressed to defense secretary james mattis. neither envelope entered the main building at the pentagon and were discovered at a delivery screening facility. officials say all mail at that facility is under quarantine and there is no threat to anyone. ricin is made into a partially purified material and can be used as a weapon capable of causing death. the situation in indonesia is growing more desperate. four days after a magnitude 7.5 earthquake struck triggering a synonymy, as of today, the death toll is over 1200, with hundreds more injured and unaccounted for and feared trapped in the rubble
4:33 pm
or buried by mudslides. >> the situations are incredibly difficult. it took them 1.5 hours to carry each of the bodies out through incredibly deep mud. the sense is one of real frustration. the access issues are very difficult to overcome. >> the world health organization is warning that a lack of shelter and damaged water sanitation facilities could lead to outbreaks of communicable diseases. global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. caroline: thank you. building on what mark was reporting about the kavanaugh investigation, the fbi is expected to conclude the probe as soon as late tuesday or early
4:34 pm
wednesday. that is well ahead of the end of week deadline. more on that news when we get it. now, special delivery from amazon. raisedommerce giant has its minimum wage in the u.s. and the u.k. bloomberg spoke with dave clark and got his take. >> we've had a great year hiring and a great year of retention. we look forward -- we said, what do we want to be as an employer? we decided this was a place we could lead. that is why we moved now. -- wase: let's welcome it what we want to the or what they want us to the? there's a lot of political pressure. >> there's the business imperative and then there's the political and corporate imperative. as you pointed out, dave clark a month ago was the amazon
4:35 pm
executive responding rather angrily to senator bernie , who wasn the u.s. accusing amazon of having poor working emissions and pay for its warehouse workers, and now the same guy agreeing to raise the wage, and you saw jeff bezos and senators patting each other on the back, metaphorically, for their good works. joe: do you have a feel for what the starting wage was previously, or roughly the average wage of the people who weren't yet making $15 an hour? >> it is hard to know for sure because amazon didn't have a flat wage for its warehouse workers, but it depended a lot by market. like some people are going to get a significant wage increase who work in amazon warehouse is and that also applies to the 100,000 or so
4:36 pm
seasonal workers that amazon hires ahead of the holiday season. romaine: do you think this wage hike was because of political pressure? >> that is the unknown. that is unknown, how much is amazon doing this because the labor market is tight, and to attract the best workers, and how much is because it wants to avoid this reputation of this big, rich, bad boy of retailing that under pays workers. romaine: i did see some numbers from one of our reporters that shows $15 an hour is still just barely the median industrywide for warehouse workers and forklift operators. >> that's right. if you look at median wages for big-box stores, they are still maybe up to $15 if you look at target, but yes, warehouse workers have
4:37 pm
certification and tend to get paid more. joe: one interesting note in the press release is that they would apply this standard to the employees of subcontractors of the company and there's been a lot of reporting specifically about silicon valley's use of subcontractors and these invisible employees within larger companies. do you expect this is going to be a growing area of tension and more companies will be forced to address the working conditions and pay of subcontracted labor? >> it is not just silicon valley. all over corporate america, there are these shadow workers, contractors that are not on the payroll, and that may get much lower wages and poorer benefits. it is endemic in silicon valley. i'm surprised it hasn't been more of an issue in technology,
4:38 pm
particularly as you have these workers getting paid huge salaries and the contract workforce not getting paid huge salaries. $15 minimumed that wage to people hired by temp agencies and that puts pressure on maybe other companies to do the same. caroline: where does amazon pass this on to? >> fair question. if we are talking about $1 billion or a couple billion dollars a year in additional cost, amazon's annual operating cost excluding what it pays for , soucts is $60 billion plus it is really not that big of a deal. it goes to show how little it costs amazon to deliver a pretty significant benefit. caroline: always great to get your opinion. amazon, some with saying the minimum wage boost might have been jeff bezos
4:39 pm
caving to political pressure. anomberg's mike mckee says m.i.t. professor discussed his thoughts on wages. >> i think amazon obviously did that under some political pressure to do so, but i think amazon's willingness to take that it isecognizes a highly profitable firm and our economy is increasingly dominated by superstar firms, the firms that are highly productive, gobbling up market share, use a lot of technology, and are not very labor intensive. amazon has a lot more employees than apple. because they have such market leadership positions, because their productivity exceeds a lot ofhey command
4:40 pm
activity and they have such leadership because they make a lot of profit on that. it is not that they are raking consumers and gouging them, but the cost is low, the output is high, so there's room for raising wages without killing the business model. , they have become an increasingly important service sector employer. have the last i read, they 400,000 people who just work in warehouses. robots bring up shelves, laser pointers point to the objects, they stick it in a box, put a label on it, and off it goes. this is demanding work. it is not fun. it is also not highly skilled. most people can do that work if they are in good health and sound mind and body. it is possible for amazon to pay lower wages for that, but there
4:41 pm
is room for them to raise wages, and i think it would be good because there's so much growth , it would bethat great to see higher living standards in that work. some of that will create benefits locally. amazon's move to back other companies to do that, that is sound business practice. cost, are raising your you like to raise your competitors cost. that was m.i.t. professor of economics david autor. coming up, the most exclusive diamond sale in the world. we hear from the ceo of rio tinto diamonds. that is next. this is bloomberg. ♪
4:42 pm
4:43 pm
4:44 pm
caroline: a quick check on the latest headlines. tencent music is the latest chinese company to file for ipo. it was china's largest social media company. that amount is likely a placeholder and may well change. on u.s. exchanges, china-based businesses have raised $7.4 billion in ipo's. toys "r" us may be going for a comeback. the same lenders that have been taking heat for liquidating the company are working on reviving the brand. they canceled plans to auction off intellectual property. they want to reorganize the assets. it has been a rough year for some home sellers in manhattan and it doesn't look like it will get easier soon.
4:45 pm
the number of homes on the market has risen according to a report from miller samuel. and that is your business flash update. this is quite a global team. in london, prices are falling. >> and they are finally falling here. when you look around the world, it is not all the same. singapore is rising. you see it in other parts of asia. joe: it is interesting with , iton, brexit, new york will be interesting to see if it goes to more cities, whether there is a cool off in these tier one cities. singapore, hong kong, san francisco, l a, it will be fun to watch. caroline: the whole of u.k., the house prices were generally rising. ofnwhile, speaking
4:46 pm
aschases, it has been billed the most exclusive diamond sale in the world. diamonds upt rare for auction. to bid, you have to be invited. bloomberg's and a chandra bought one. she got a sneak peak talking with rio tinto's diamonds ceo. >> if you think of diamonds that are bigger than 0.5 carats, the whole production in europe would .alt this is incredibly rare. out of this very small production, we are taking the top 50 to 60 diamonds every year. >> there must be a lot of excitement. who is buying these diamonds? >> either people that want to itest and potentially resell
4:47 pm
in the future, could be also connoisseurs, could be jewelry manufacturers, high-quality jewelers. >> a lot of people see them as investment pieces as well. >> indeed. when you are prepared to invest so much money in such a rare product, it is like a piece of art. except that it has been manufactured by mother nature. >> when you say people are investing, what sort of prices are we talking about for the rarest, most special diamonds? >> of course price is wouldential, but ballpark be several million dollars per carat. >> and some of these diamonds are multiple carats. >> exactly. and the color and intensity of the color is what makes them really special. >> some of rio tinto's diamond
4:48 pm
operations are coming towards the end of their life. certainly the argyle mine is set to close by 2020. how are you going to replace this output? >> rio tinto likes the business of diamonds. we think it is a good industry to be in. we've got a very strong name, a strong brand. we want to stay in this business. >> how do you find a replacement? >> different ways. the first one is by looking at the asset that we've got and investing a lot of money to extend the life of the mind. the second option is, we are spending around 20% of our budget dedicated to diamonds. >> isn't that the expiration budget for all of rio tinto? >> yes, so we've got a fair
4:49 pm
share. and we've got expirations in tropez. so the third way is through merger and acquisition. >> are you actively looking for other deals? indeed.it is the case our approach is very pragmatic. we are not looking for volumes. we are looking for value. we would be considering a on if itn acquisitions makes good sense and if we can create value. >> in terms of further exploration, are you looking outside of australia? >> it is also an option. >> one of the things you mentioned is that rio is committed to the diamond side of the business. i think it brings in about 2% of
4:50 pm
revenues. why the commitment to diamonds? sometimes we say small is beautiful. particularly for diamonds. it is a profitable business. >> one of the other challenges for the diamond sector, for the industry, is synthetic diamonds. ers saying theye are launching synthetic diamonds for a range of jewelry. is that something that concerns you? >> there are different products. to put things in perspective, specific diamonds are only 1% of the production worldwide. products,different and the customers can make the
4:51 pm
difference. what you are comparing is the diamond that has been made in the lab versus a diamond that has been made by mother nature. those are different products. definedas it is clearly and customers know what they are buying, there is room for growth. caroline: that was bloomberg's emma chandra speaking with the ceo of rio tinto diamonds. coming up, fighting on one less trade front. what trump's have to rewrite means for his future with china. ♪
4:52 pm
4:53 pm
caroline: president trump is taking a victory lap on his nafta rewrite. the white house has a new deal and one less trade front to worry about.
4:54 pm
now the trump administration has made peace with north america, so advisors are hoping it clears the way to focus on china. >> there also is some negative implication for china in the new rules of origin, because they have been shifting a lot of parts in through the nafta regime. so these gains are coming at the expense of non-nafta areas, most notably asia and europe. caroline: let's get a perspective from shery ahn now. doesn't bode ill or well for china to be frontline and center? >> that is a key question that we kept asking yesterday on our asia shows. while they did make a more hardline stance that the trump administration has gotten this deal, or does it mean because the deal only saw moderate changes, does it mean that a few concessions from china could result in a deal? the views are all out there.
4:55 pm
people are divided over that. i think it is key to say that what the commerce secretary said was interesting. what they are trying to do is, because the old nafta had allowed these concessions to chinese companies that operate in mexico, you saw steel exporters exporting to mexico to provide to the auto sector for cars that would end up in the u.s. or canada, this new deal that puts 40% of vehicles have to be made in north america with workers earning at least $16 an hour could actually deter the chinese. joe: one of the point people make is the difference between this deal and nafta is it is tpp like. could that open some doors with japan, something along this model? >> that is interesting. when you look at the daily concessions they got from canada, it was modeled on the
4:56 pm
transpacific partnership. when i talked to the chilean president, they said china is interested. really a huge thing. model for work as a other trade talks? i'm not sure. says they are abe not fta talks because the japanese don't want that. but that is happening. caroline: interesting discussions. shery ahn, don't miss her. lindy of stories on daybreak australia at 6:00 p.m. and daybreak asia at 7:00 p.m. eastern. in the u k, theresa may speaks at a conservative party conference. joe: and i will be looking at economic data. #turkish cpi and producer prices. romaine: and, third-quarter earnings before the bell. caroline: that is all for "what'd you miss." romaine: bloomberg technology is
4:57 pm
next. joe: have a great evening. this is bloomberg. ♪
4:58 pm
4:59 pm
i'm all about my bed. this mattress is dangerously comfortable. when i get in i literally say, ahh. meet the leesa mattress. a better place to sleep. this bed hugs my body. i'm now a morning person. the leesa mattress is designed to provide strong support, relieve pressure and optimize airflow to keep you cool. hello bed of my dreams. order online. we'll build it, box it and ship it to your door for you to enjoy. sleep on it to up to 100 nights and love it or you get a full refund. returns are free and easy. i love my leesa. today is gonna be great. read our reviews, then try the leesa mattress in your own home. order
5:00 pm
during our fall mattress sale and save. for a limited time get 150 dollars off and free shipping too. sale prices are available right now. go to buyleesa.com today. you need i am emily chang in san francisco and this is "bloomberg technology." tesla posts a surge in electric car rollouts. will it be enough to drive the company to profit as elon musk has promised? amazon site criticism over working conditions with a pay raise. we look at what is behind jeff bezos' move to bump the minimum
5:01 pm
wage.

70 Views

info Stream Only

Uploaded by TV Archive on