simple. easy. awesome. click or visit a retail store today. emily: this is "bloomberg technology." amazon under scrutiny by regulators in its biggest market outside of the u.s.. german authorities have new concerns about their size and scale. the chinese scientists have -- the scientist -- the chinese people --has shocked

and how posting on instagram can bring in the big bucks. we take a special look at social influencers making a career for marketing their own brands with paying clients. big tex stocks in limbo. apple and amazon could take the biggest beating. is wall street journal reporting some of the talk tech ceos are set to meet with the trump administration next week. here is what the president had to say about prospects of a deal would china moment before he took off for the g20 summit. >> i think we are close to doing something with china, but i don't know if i would do it because what we have now is billions and billions of dollars coming into the united states in the form of tariffs or taxes so i really don't know but i will i think china wants to make a deal. i am open to making a deal, but

frankly i like the deal we have right now. emily: the president said he is considered slapping -- considering slapping tariffs on the iphone. the market cap of microsoft and apple have been the and not apple shares have slumped 20% since an early october peak. here to talk about the months ahead, cathie wood. microsoft and apple are going back and forth. is this a sign of what is to come for apple? , becausek apple analysts are focused mostly on units and average selling it has reached a period of under evaluation having come down this much since earnings. they have pushed the pricing envelope a little too much but their services business is becoming very interesting.

not only the app store but also all of the ways they are getting involved with health care, augmented reality. i think this will become a services model which is a higher multiple or it'll achieve a higher valuation at the end of the day. emily: there is still uncertainty about trade. how concerned are you about potential tariffs on the iphone? cathie: before i heard today that peter navarro was back on the invite list to go to argentina with president trump, i was much more optimistic. he is a sabr radler. i thought they would leave him out and let light heiser and larry kudlow do the work behind the scenes. i think a lot of work is going on behind the scenes and we see movement from china. their own economy is slowing so they are cutting taxes internally. when we turnaround at the end of the day, we are going to see at

the conclusion of negotiations, perhaps not this weekend, lower tariffs throughout the world. i think this will be a positive result long-term. emily: peter navarro is one of trumps trade advisers -- trump's trade advisers. what about microsoft? will they going to longer bull run from here with the rise of the crowd -- cloud? cathie: i think they have done a lot of things right in the cloud of course. gaining and i think it has earned its way into the good graces of investors even though it is this, windows and so forth based business, windows and so forth, are having technical problems. long-term, i think apple will continue to lead the charge. it is going through a period of uncertainty because of short-term thinking because a pricing and units. you have upwards of billions of

of iphones and apple products around the world and that is only growing year-by-year. we are pretty excited about the long-term prospects. emily: what about amazon? this is a company that has faced verbal and twitter salts from the president. now under fire from german regulators as we will talk about later. do you think tariffs could have an impact on amazon given their reliance on the third-party sellers? cathie: i don't think so. at the end of the day, amazon is all about customer first. i think that is hard for politicians to fight. when their electorate's love a product. i feel the same way about apple. if we get temporary tariffs, i think they will be just temporary.

these are products that the light the consumer and these are the people politicians want to make happy. emily: the wall street journal is reporting the trump administration has set up this ground cable with tech ceostives including many including pichai who scheduled to testify next week. do you think anything promising could come out of the meeting like this that would impact an investment strategy? cathie: i do think it is good that they are talking. much better that than arguing in the media. at the end of the day, president trump once our innovative leaders -- wants our innovative leaders to dominate out there. has being number one in artificial intelligence as a priority.

president trump is responding to that. i think we will be in a how do we work together mode as opposed to adversarial mode. emily: in the meantime, facebook is in a pr nightmare and it shares are way down. concerns like all the way to the top on mark zuckerberg and how -- on howdberg handle mark zuckerberg and cheryl central -- sheryl sandberg handled election meddling. cathie: we got the first signs in the last quarterly report that it has impacted engagement slightly, but not as much as many might have thought. we are also seeing in terms of top brands, facebook is losing its status there. when that happens, we usually have a. -- we usually have a period of business and stock.

havegoodness they instagram, whatsapp, messenger, and other properties to monetize. we think they will be continuing to lower the ad load's on facebook proper and trying to write that ship -- right that ship. emily: how optimistic are you that instagram and the rest can pick up the slack? cathie: it will be hard. facebook is incredibly important to them. i would not be surprised to see more disappointments. they are coming off of rapid growth and we know television advertising is starting to find its way online. there are not many places to go. facebook is one of the biggest. google, twitter, amazon in fact is getting a lot of advertising now that it is becoming a search engine when it comes to congress. i do not think all is lost.

i don't think the advertising will disappear from facebook. there are just not a lot of outlets for online advertising at scale. emily: i also had to ask you about tesla. it has been a rocky year for elon musk what a successful year when you look at model three production. what is the year coming given tesla hold with political uncertainty on how they want have a panel electric car, tax credits, and tariffs and auto imports? ourie: according to spend all of our time doing research on disruptive -- we are capacity constrained on batteries so it is interesting that tesla's model three was the nober one selling car

matter gas powered or electric in the united states in the third quarter. if you measured by revenue. we think tesla is on its way. it took a long time to get the manufacturing process right and they still are working out bugs, but we think they are on their way. it's like with spacex, it took them a long time to figure out how to land the rockets on barges in the middle of the ocean. once they did it, they have been doing it successfully ever since. almost flawlessly. we think we are dealing with the same sorts of situation right now. emily: so good to have you back cathie wood. much to talk about in the year to come. weing up, earlier this week, saw the u.k. crackdown on facebook announced the is cracking down on amazon. why? european companies are hitting u.s. tech giants where it hurts, next. this is bloomberg. ♪

emily: europe takes a scrutiny of big take on bunnies and they are trained on amazon. germany is looking into the country's double role as the biggest online host for smaller stores. the probe piles onto eu concerns about whether amazon gathers information on rival sellers to help launch its own products. for more, let's bring in our senior editor, brad stone. what a regulators looking at? brad: as you mentioned, amazon has a dual role where it operates. it has e-commerce platform where

other smaller sellers can sell and is the biggest seller on the platform. this german cartel office says they have gotten a lot of complaints about how amazon performs that dual role and how it manages the data from smaller sellers on the site, how much transparency there is around the process when amazon shuts down the seller, how reviews work, so it will be collecting information from the sellers, and looking at how amazon administers the dual role. emily: in the same way we saw the eu take a look at google, with this potentially be a whereyear investigation we would not know consequences for many years? brad: you got that right. these things take a long time. the same offices have been investigating facebook and it has for 2.5 years. the key phrases dominant position and they will be looking into whether amazon has one in germany and if it uses that position.

is a minority percentage of online sales in germany, and online sales are probably talk to 15% of overall retail. if you look at market share numbers, it is a small number, but if you look at the impact on small businesses and how many consumers in germany use amazon, maybe it does have a dominant position. they will have to look at whether they abuse it and if so, what are the remedies. emily: could u.s. regulators make the same case amazon has the same problem here in the united states? brad: absolutely. it is certainly a line of inquiry. the european union competition commission is looking at the exact same thing. how amazon uses data from its market platform to inform its overall business. europe, with a business foundation of small and medium companies, with a sense they have been outpaced by american tech giants, they are leading this. we're not heard much from the ftc or department of justice

along these lines but it is ripe for inquiry. emily: redstone, we will continue to have you follow that scrutiny coming out of jiminy -- germany. aws revenue is expected to hit $71 billion giving their cloud 300ness a valuation about -- of about $350 billion. that is a big number. how do you get there? >> there will be 26 billion this year and they are 2.5 times larger than microsoft with azure and a six times larger than google. they are a runaway freight train with the cloud. one of the key things in vegas this week was the 2.5 to 3.5 increases by the orders. -- the partners. you have these, let's

organizations who are not wanting to go to the cloud, but are now all in. right on theere showroom floor saying we are not selling credit cards, we are telling you we are going to the cloud. you would never hear a credit card company going all in on the cloud to been years ago -- two years ago. fortnite, the game that many of our kids play, 8 million concurrent users. every company and walk of life is saying this is a great way to put their enterprise compute onto this platform. we expect that growth rate to continue. 26 million to 70 billion by the timeframe you mentioned. when you look at software multiples, five to us is reasonable. that would get you that number you mentioned to 350. that is roughly half of the market cap now. it will keep further compounding the margin and let amazon do things other retailers cannot. emily: how much does amazon have

to worry about microsoft? microsoft is overtaking apple as the world's most valuable company and a lot of that is due to optimism around microsoft and their platform. cathie: azure is doing well -- >> azure is doing well. ultimately, what is happening with microsoft is that they resonate well in these old-school industries. big banks, big insurance government, so little one thing amazon did that i think was the biggest news from a product that's product perspective is let you take amazon cloud. everyone is speculating this would happen. this is the only advantage microsoft had against them and microsoft had the application has taken now amazon one of the two big concern the way. microsoft is the challenger and aws is the runaway leader.

google is the up and comer. now with oracle on board, he knows where a lot of the oracle workload is going to be. emily: amazon is facing much bigger picture concerns here. europe we issues in just discussed, potential tariffs impacting third-party sales. how concerned are you about some of these bigger issues affecting amazon at large? >> everyone has the same risk. facebook, google, they are all under duress. question from institutional investors is what will happen with regulatory overhang. no one really knows exactly what will happen, but we do think a think a form of gdpr and europe will come to the u.s.. it may not be as stiff because regulators -- it will help companies if there is more regulation. big platforms win and the little guys heard. they will have to be careful because they could -- hurt.

they will have to be careful because they could stunt innovation. if there are increasing regulations, it will hurt. emily: all right, interesting perspective. thank you so much for stopping by. coming up, the l.a. auto show is usually the home of glitzy reveals and brenda cars packed with technology, but we see the one startup who is keeping their ev away from the show this year. this is bloomberg. ♪ ♪

emily: the l.a. auto show is a place where automakers in startups put their next and vehicles on display, but one carmaker has decided not to showcase anything at all. they are almost two years behind schedule with its ev but a billion-dollar investment in september has put them back on track. the vice president spoke exclusively with bloomberg about

why the company is keeping quiet for now. lucid, we have to decide who is our customer, who are we going after, what is our core capability, market position, and what is the brand personality and character of the company. you get to make your own rules in a way. that is really rewarding and an enjoyable thing. >> what is giving the base price point of this vehicle? who are you targeting? inwe are coming to markets luxury price point. those vehicles will be most likely than 80,000 price range and up and they will be highly equipped. however, over time, we will introduce energy level vehicle and price that will be around the 50,000 price range. >> [indiscernible]

you have a very deep knowledge of the car. when it comes to the technology inside of the lucid air, what sets it apart from other ev's? >> what really sets it apart is our approach to ev, technology, and integration. if you think about what it has taken in the past to create high and all ofor torque the components to make that work, ev is the miniaturization, the digitization of the drivetrain. miniaturization, we are able to pack into vehicles a lot more space on the inside, more compact on the outside. all of the dimensional and packaging rules we know from internal combustion, that is the luciditten and air is the first type of vehicle doing that. >> the timeline for the lucid

air has changed. what is the timeline now and when will we see a lucid air on the road? see a lucid air on the road? >> we will have our first prototypes running around in early january. that's in 2020. the on sale dates will be later in the year, so the end of 2020. one of the big things that has jumped out to me is a broader industry shift from suvs. yet been working on the sedan and that is the segment of the market you are targeting but are you currently designing an suv for longer-term? >> even when we started with this whole program, there was a lot of discussion about sedan or suv first. we felt the sedan format was the best place to disrupt and show

the true ev capabilities. better handling dynamics, better performance, better comfort, but the range of aerodynamics. we went to to start their but we will follow it up with suv's, crossover type products, after we launched the lucid air. tensions that stinking's speaking with ed .udlow -- eric ludlow another sign the gmc is a future where roger takes over poor carmaking business. china suggesting a future with jean edited babies has arrived. kicking off a worldwide controversy. what are the risks? we will discuss, next. this is bloomberg. ♪ ♪

place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything.

leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. emily: this is "bloomberg technology." i'm emily chang in san francisco. francisco. this week a chinese researcher sent the scientific community into shock, claiming he had created the world's first two genetically-edited babies. he claims to have tweaked the dna of two human embryos, now twin girls, to be hiv resistant. reports have prompted widespread condemnation from scientists across the globe, with many calling it an unethical use of technology. the last several years in science have released a frenzy, with the potential to possibly cure and eliminate deadly

disease and others warning of the risk. so far, it has been used to create lyme-disease proof mice. it was used to disrupt lung can cer cells. lee, a student at stanford university, joins us to discuss. drew, what exactly does this scientist claimed to have done? drew: you described it pretty well. he says that he has modified the two embryos that were delivered ho,o two young baby girls w according to him, have a certain resistance to hiv. it is essentially modifying the genes of a human being, doing it from birth, making sure it permeates all of the dna in their body. it's an exceptionally bold claim. it's the type of thing people thought might be possible at

some point, but a lot of the field has said we were not ready to quite make this leap just yet. it set off an unbelievable controversy in the scientific community. emily: you have developed a technique using this technology to kill cancer cells. you have also continued this research at danford -- stanford. you have been involved in the ethical debate about it as well. what's your reaction to these claims? >> i was pretty shocked when i first read the article. i definitely think it is a little bit premature, especially considering the fact that, like previous guidelines have said, not to do any gene editing on embryos. it is a step forward. i'm not sure it's a step we should have taken this early on. it will be interesting to see where scientists and ethicists decide to go next. emily: there is an unofficial international moratorium on using the technology on humans. even the coinventor of the technology said on bloomberg

earlier that she is disgusted by this. jiwoo, what do we know about the actual risks? the scientists says the babies have been born healthy. are there risks we don't know? jiwoo: we don't yet know the exact changes that it will make on the other parts of the genome. if you make one change in the genome, you don't know how it will affect other genotypes. thisarticular gene scientist decided to change to make the babies resistant to hiv, we don't know how that gene is going to influence any other diseases. some people think that gene also can influence your risk for west nile virus and make you more susceptible to other diseases. whether it is going to affect other disease susceptibility we still don't know yet,. emily: jiwoo, the chinese national health commission is investigating. drew, tell us a little bit more about the chinese government's reaction, because officials are not happy. drew: no, they are not.

we are still seeing that reaction play out. we have seen the health officials say they have put a stop to his research. he pulled out of a conference where he was supposed to speak in hong kong. there have been officials saying that what he did appears to have and illegal potentially there appeared to be some issues where his university in shenzhen said there may have been some signatures forged on permission documents for the university's ethical committee. i think we are going to see this continue to play out in terms of the consequences. china has a booming biotechnology industry. it is very interested in being at the forefront of some of these technologies, like gene editing, like new therapies in cancer and a lot of very exciting stuff. it wants to show it is a legitimate industry. parts of china biomedical research in the past have been seen as a little bit of a wild, wild west.

this is an opportunity for the government there to make clear to the world how it stands about certain research ethics, what is permissible and what is not. i have a feeling that this researcher is going to mark a pivotal point in the history of how the chinese regulators and government approach the industry. emily: there are three different public companies working on crispr right now. there are folks like you, jiwoo, who are continuing to do research on the future of this technology. what could be possible with crispr in the future with regard to human life? what are the technological hurdles needed to be overcome to get there? jiwoo: i definitely think that withuture of cripsspr lies human therapeutics. there are a lot of clinical trials going on to use it for cancer therapies or blood disorders. one of the main drawbacks or hurdles that we have to overcome before we can use crispr in

humans is the delivery. the delivery is still something we need to research further, in order to actually use it as a therapeutic. lee, we will continue to follow your work at stanford. through armstrong, our u.s. -- drew armstrong, our u.s. health care editor. lots to continue watching. now to a case of style becoming substance. a whistleblower says the now defunct data research firm used the fashion preferences of facebook users to target political messaging. essentially, the company was working out how you would vote based on what you are wearing. nate wrote the story and joined me earlier. nate: a lot of this stems from christopher wiley. anyone who doesn't remember, he is the original was served lower behind the cambridge -- the original whistleblower behind the cambridge analytica scandal

in march. the data on facebook was shown to be used in election interference. chris was one of the research directors at this farm in 2014 who blew the -- at this firm in 2014 who blew the whistle on how they had acquired data and how it had subsequently been used. he was speaking today here in england about fashion, fashion brands. he was saying that one of the key pieces of data and information that cambridge analytica used to determine how they should be targeting different people with different political messages was their interest in certain fashion brands. not necessarily just clothing, but also magazines and high street retail stores. they were actually able to work out based on how somebody interacts with and to the jewel brands and a number of other brands -- with individual brands

and a number of other brands how they were politically leaning or could be persuaded to lean politically purely based on those brands. emily: i'm curious how they drew their conclusions. you are a liberal if you like to wear what? you are a conservative if you like to wear what? were someone who was engaged with abercrombie & fitch, for example, you might be a bit more liberal and outgoing. if you were someone that likes to wear jeans made by wrangler, maybe you were more on the conservative side. one of the keywords that was used, they like things to stay stable. so, it is interesting just how important those sorts of associations were between the brands that someone likes and the way they are politically leaning. emily: facebook is under criticism from all fronts right now. how much do facebook executives

and facebook investors need to worry about cambridge analytica going forward? nate: facebook has spent the last few months either being -- with ceo mark zuckerberg being demanded to speak in front of parliament in britain, so far refusing. week, one of his privacy chiefs was here giving evidence to a parliamentary committee. they made a point of putting an empty chair with mark zuckerberg's name in front of it, just to show he was supposed to be there, that they wanted him there, and that he refused multiple times now to show up. that's not going to go away, probably, until he actually agrees to speak in front of them. we've seen the appearance that zuckerberg has had in front of congress and the european parliament. it is the british team investigating social media's role in fake news that will give

him the hardest time. that is definitely something people think is a reason why he is not showing up to some of these hearings. emily: do you think we will hear any more from cambridge analytica or christopher wiley? it seems like the scandal that just won't give up. nate: it's less likely we will hear anything specific from cambridge analytica itself, partly because it is now defunct entity. i speak to chris relatively regularly. it always feels like there is something else around the corner. i think this fashion topic is one that maybe has been coming for a little while, because of his very large personal interest in fashion. he was studying a fashion phd before he worked at that company. maybe this is sort of the last big thing, but it always seems like whenever you think it is done, there is something else that keeps coming. it wouldn't surprise me at all. emily: bloomberg tech's nate lanxon from london. areng up, companies

expected to spend close to $1.6 billion this year on influencers. what does it take to turn a social media platform into a full-time career? our special report is next. this is bloomberg. ♪

emily: she goes on outdoor adventures for a living. her job: to post on instagram when she gets home. she is a new kind of celebrity, a social media influencer. to many, her career doesn't seem

like a career at all. but as businesses increasingly recognize the value of social media marketing, it's become a business that is bringing in billions of dollars each year. bloomberg investigates. the orange sky at dawn. snow-dusted peaks. beauty manykind of of us only see on instagram. and this instagrammer delivers these views to you for a living. new kind of celebrity, and she makes money by promoting things to her fans. it'sa a lucrative world with billions of dollars rushing in. , and name is meghan young i'm an influencer. all right, we are heading out

for our river cruise. >> at first glance, meghan's job doesn't seem like a job at all. >> check this out. whoo! for a living, i go on outdoor adventures, take photos of it, and then share it across social media platforms when i get home. >> but unlike you and me, meghan gets paid to share some of these photos. she has almost 200,000 followers on instagram and all kinds of companies pay her to endorse their products on her feet. >> it can be things like tactical gear from raincoats to pants to food. it can be different snacks that keep me going on the trail and also travel destinations, which are honestly my favorite things to do, because it is really fun to explore new landscapes. meghan's on track to earn between $50,000 and $100,000 over the next year. about 10% of her feed is sponsored. story's post on

instagram, that usually starts around $200 per day. for posts to a social feed channel, $1500 or more for one post. >> right now, much of that income is helping pay for this home. >> hey! meghan's taking me on one of her signature mountaineering adventures. >> i have to make sure that all the gear is clean and prepared, that we are safe. everything is ready to go. >> we are planning a 4 1/2 mile hike up the cascade mountains, climbing around 2500 feet. we will be camping overnight and then hiking down. this was supposed to be a mild hike. and it's a total breeze for meghan, but not so much for me.

this is not easy. meghan: i always want to make sure we are as safe as possible, but there are moments when you are on something exposed or your climbing something and you think what if there is a rockfall and we plummet to our death. those fears are very real. it is so warm outside, you guys. finally, four hours behind schedule, we arrive at the campsite. are we here? meghan: yeah. whoo! we did it! >> and after the coldest night

of my life, we wake up to this. it's the window of good weather meghan was hoping for, and she uses it to stage a sponsored photo for an energy bar she brought along. meghan: i'm always trying to think about, how do i take something and make it look at home or natural or normal in these wild landscapes. >> i think a lot of people will be watching this and think -- why did she do this? why do you do it? meghan: i am so happy out here. it's a little ridiculous. you wake up with mornings like this, and you sort of forget the sweating and the heavy bags and you sort of live in that moment. it's a pretty good office. i'll take it. post of the energy

bar has now been seen by 16,000 people. since our trip, she signed sponsorship deals with three new clients, making the $1.6 billion market for instagram influencers just a little bigger. but the world of social media shanges fast and meghan know there are plenty of things that could derail her newfound career. it's not a stable job, and it is certainly not an easy job, but for now she can't imagine living her life any other way. so beautiful. i've had young women reach out to me and say that they found inspiration or they've gone on a hike or climbed a peak. that's the upside to social media. you have this ability to inspire people and to actually touch their lives offline. and that's pretty cool.

that was aki ito. up next, going private? this is bloomberg. ♪

still paul jacobs, thinking about taking the chipmaker private. he sat down with selina wang to explain at the bloomberg's year ahead summit in new york. paul: things that qualcomm can do -- it's a big company. it was hard to focus in on some of the leading -- it's a big company. billion chip sets almost a year. we are able to focus in on the

leading edge customers, drive the whole end-to-end system. qualcomm is becoming increasingly focused on building the componentry that deemphasized the development of new technologies. that's the reason why i've been able to get a number of the really good system engineers, because they are not able to do that kind of deep innovation. the wireless industry in general has disinvesting from -- disin vested from fundamental technology innovation. huawei and samsung are the key leaders. xcom is trying to do that. we are small. i get it. but we have partners as well. we will work with partners closely to bring these innovations to market. selina: speaking of deep innovations, that was -- i have to ask you, are you still working on that? paul: i don't have any updates now. basically, we continue to watch what the company is doing.

obviously, there have been not great developments on the legal side for them. the stock price is down, market cap is half of what it was when i was there. we are watching it. one of my favorite saying is luck is where preparation meets opportunity. we are prepared. we watch. in the meantime, as there are resources that are leaving, and they are great resources, and we want to retain a critical mass, we are able to hire those people. selina: how would xcom fit into a potential take private theoretically? paul: it could have gone back in and in the corporate r&d department. it could've been some leading-edge application. there are lots of ways that xcom could work in a take private. you first discussed it, it was largely dismissed by observers. now there have been a lot of market fluctuations, as you said. even around $55 per share, it is still $65 billion to $70 billion company. how exactly would it work? paul: there is debt and equity.

you have to put together the whole thing. the question now is if you look at the ebitda, of the company, it has come down. if you look at the financial results through a number of one-time events, there have been stock buybacks, but the debt is based off of a bit. -- of ebitda . the market cap comes down, but there is cash now off the balance sheet. there are all these things that there are all these things that have gone on with the company. like i said, no updates. i don't want to give any updates. we are watching the company. we are prepared. if there is an opportunity that arises. emily: paul jacobs, the former ceo of qualcomm, current chair and ceo of xcom, with our own selina wang. paul jacobs is the son of one of qualcomm's cofounders. here to tell us more, ed. you were listening to that conversation there he intently -- conversation very intently. he kept saying no updates. did we get anything new in terms

of whether or how he would be able to pull this off? ed: there was no indication from the interview that he is close to doing any kind of deal. look, we know this is something he is interested in. the big challenge, as always, is finance. he is trying to do one of the biggest, if not the biggest take private deal in history. the financing -- is it there? there were rumors early on that potentially some of it was coming from saudi arabia. you would be bold to think that saudi arabia and money coming into the u.s. in that quantity at the moment would be an easy thing to achieve. i think probably no updates is actually a fair statement for him to make. it's very unclear how this situation would have progressed from where he initially kicked it off just by saying he was interested. emily: we only have about 30 seconds left. from my conversations with their current ceo, it sounds like they don't want this to happen. he thinks a private company could be even more constrained. ed: this is about the opposing

theses they have. he wants to make a profit. paul jacobs sees r&d as the future. emily: bloomberg's ed hammond. see you back here tomorrow. this is bloomberg. ♪

>> good morning. australian markets have just opened for trade. >> welcome to daybreak asia. inocencio. haidi: asia pacific stocks look set to fall gains of the last day of the month. investors are awaiting the outcome of the g 20 summit. president trump doubts on a deal with china, saying he is happy with the current