i am david westin.come to a special edition of "bloomberg best." on this program, we will review the most important business news, analysis, announcements, and interviews for the united states and the americas in 2016. without a doubt, one of the most globally significant events was the u.s. presidential election. our coverage kicks off our year in review. >> let's turn to the race for the white house, and the results of super tuesday. on the democratic side, hillary clinton jumped out to a big lead in the delegate count after winning seven states, compared to four states for bernie sanders. donald trump taking seven states too, and taking a lead over his opponent ted cruz, who won three states. the question is, how do the strategies change now? >> marco rubio really had a tough night. they thought he was going to sweep virginia and have a stronger night. they are now left with this option about it we get behind donald trump? or do we have sitting lawmakers and governors saying, this is not what the rep

i david westin. world's most profitable technology company, but, for a few weeks in 2016, it was the most controversial after it refused to comply with a court order to give the government access to data from an iphone linked to a terrorist attack. emily: apple and the fbi have been testifying on capitol hill. >> we see it in isil's efforts to reach into this country and using mobile applications that are end to end encrypted task -- encrypted, and they task people to kill innocent people in the united states. that is a huge feature of our national security work and an impediment to our counterterrorism work. >> the inability of law enforcement to access devices or -- where a judge has determined there is evidence that may relate to a crime, is having a big impact on our ability to do our job, to protect our constituents, and i think is having an overall negative impact on public safety. emily: there is no middle ground that does not put everybody at risk. it is not just about one phone. it is about

i'm david westin.of 2016's most compelling conversations with investors, financial leaders, and economists. market volatility was a theme throughout the year, especially in january, as a global selloff raised fears of a recession. it was a topic of much discussion at the world economic forum in davos. >> once again we are in the midst of a selloff. it kind of feels a little bit like 2009. but i hope not. what does it feel like to you? >> i think it reflects the tug-of-war about the countries that are growing, countries that will keep growing, and the the expectation that china won't grow as fast. i think that is growing out in the markets. >> you make it sound sensible. >> it is always sensible. in retrospect. but i think at the end of the day, companies like ours just have to keep driving, the consumers in america continues to spend. now the question is how it plays out. >> i would say that we are in an environment in which it's very important to have a well diversified -- that will include assets lik

julie: that was quicken loans dan gilbert with our david westin. north american international auto show. as we hear about the sort of advances in technology that the auto industry is making and we also hear about the job, the push to keep jobs in the united states, is there talk about how many jobs that tech push is going to add in detroit? david: they believe it really can revive detroit and all southeastern michigan. you just stutched on the two sides. on the one hand they want to turn this into a silicon valley in michigan because of the autonomous vehicles. on the other hand, you have the trump tweet about the chrysler fiat investment. you'll notice the big cars, the s.u.v.'s and trucks are being made here, the small ones in next cow. jon: more coming up from david and the auto show over in detroit. futures down across the board. negative three on the s&p 5 hufpblet they open up next. this is bloomberg. ♪ jon: moments away from the opening bell. we closed on friday. smp 500, a slightly softer session for futures. rolling towards the session low

david: carlos ghosn, thank you for being here. westin the international auto show in detroit. and janet yellen's term ends january 2018, and already we are hearing about with the central bank may look at then. replacements with pursue tighter policy. mike mckee joins us now for more. these three have been saying tighter monitor the lessee for a long time. maybe by the time they become fed chair, if any of them does, they will not be saying that anymore. mike: because we will already be there. they are arguing what should have been done before. if you look at the taylor rule, named after john taylor, he puts the rate of just over 2%. right now, they are at 66 basis points. the argument is they are a little bit behind the curve, which is the language that taylor used at the conference. glenn hubbard suggesting the same thing, saying the fed had overstated shelf life. kevin war, the most critical, saying the fed had been on a ride the wind short-termism policy, trying to get unemployment lower while forgetting about inflation. all of these

. ♪ david: i david westin.tinuing our coverage in davos, switzerland, we are joined with a special guest. ,> i am here with anas al saleh deputy prime minister of kuwait. nice to see you here. needcountry has outlined a , a budget deficit, the product of lower oil prices, where did those plans stand? >> we started tapping the markets in kuwait, and now we ,re very soon going abroad targeting 2017 definitely will we will go toe the international markets. you have floated a figure of 10 billion dollars, the amount that needs to be raised. if there was demand, would you consider a larger issue? >> i will leave it to our advisors on the best ways to finance our deficits. that depends as well on the markets condition. erik: i see. who have you hard to advise you. surely you need a bank as well? >> who is in the running? >> a number of them. erik: what is your outlook for oil prices? fromst year this time january to january, 100% up. think the $50 or $60 level would be something acceptable. erik: how long? >> 6-12 mo

i am david westin. some gm headlines crossing moments ago. y will add $1 billion in u.s. manufacturing operations and adding 7000 jobs. joining us now is david welch. take us back in history. the president elect tweeted out about chevy and saying that they should not be making those down in mexico. his news conference by saying i'm still waiting to hear back from gm. is this what they have done? these announcements have gone toward what trump wants. some more things that were in the works anyway. in gm's case, these are basically jobs that will be retained or added as gm retools factories over the next two years to make a bunch of new vehicles they were planning to make anyhow. they could have made them in mexico or they could have made them in canada if they wanted to, but most of the manufacturing is still in the us. a lot of this is day-to-day business they would have been doing anyhow. when they say retain jobs, what they are saying is that they did not give the factory a card of may, workers would have nothing to do once what they are mak

i and david westin. -- i am david westin.ast -- iron ore prices from last quarter, and they are staying at the are not sustainable in 2017. here to explain to us why is can hoffman, senior analyst for bloomberg. great happy with us. we are going to show a chart here to see how much iron ore has outstripped the price for other commodities. the white line is iron ore, in the blue line is other commodities. it seems to be at a kilter. 10: maybe. they understood the iron ore and prices, then they are lying to you. everyone thought it would be cut in half a year ago. it is ordered, and they thought it was going to 20. it was at 80, and they thought it was going to 40. analysts are saying that there is a mind that will cost lanes of dollars but at huge supply to the marketplace. this year, there is one in brazil. what they do not understand is chinese demand and what is going on inside china. what happened last year? those a lot of new supply, and the price doubled. the chinese produce a lot of iron ore. he came up and said they ar

david westin startup -- caught up with scott keogh. er planned on luring luxury suv buyers. scott: we are going to make this car. these are the biggest segments in luxury. the second thing is, they are no longer utility vehicles. these are proper luxury cars. it is loaded with technology and looks great as well. david: so we will be able to buy one of these? scott: around 2018 will be a great time to hit the market. david: you also have the q5, surrounded by people. scott: believe me, it is back there. david: this is a crossover. you announce this today. scott: it will hit the marketplace in april of this year and this vehicle is the biggest segment and luxury. the luxury market. this is a sporty version, the sq5. q5,id: between the q8 and you have a story playing out across the country as people increasingly by a suv or a truck instead of an automobile. scott: the mix of suvs went up in 7% in luxury. 54% of all luxury cars are suvs. why is it happening? people like this body style. generation y is forming families. fuel economy is good

here is the ceo speaking to david westin. for canceling the plant is our next generation focus was going to be built in that plants. inhave seen a market decline the demand for sloppy vehicles in north america, so we do not need the capacity. vonnie: for more on the automakers and manufacturing, david welsh joins us from joinst, and eric martin us from mexico city. eric, taking a look at the mexican peso, almost 1% weaker than all day, what is the response from mexico, from mexican officials to these plans to move from the automakers? ric: the currency has been swift and powerful. lowestthe peso at the level since one week after the november election, and down about 1% today. we have not seen any statements from mexican policymakers, but we do know that this is an area, the auto sector, where mexico has been competing globally to bring in investment. it has been one of the motors for mexican economy in recent years, so this is an area of government has been focused on and certainly a disappointment in terms of seeing this for

later today, david westin sits down with carlos ghosn of the sun.. "bloomberg surveillance" on economics, finance, and investment. sterling makes the headlines today on a percentage basis. that is a big move, weaker sterling. how bardo gallo is giving us perspective. turkey with -- alberto gallo is giving us perspective. terrific photographs have been put together from around the world on the snow in istanbul. it is amazing to see the heavy snow in istanbul. francine, there is a serious side to this. francine: we worry about hypothermia for a lot of migrants, and we know that turkey has one of the biggest areas for migrants in northern africa. greece, where you have a lot of syrian refugees arriving, there are temperatures that are -15 degrees celsius at the moment. help me with the scene between albania and italy. that would be the original migrant tension within italy. is that still a tension point of , or has thateople been subsumed by everything else? routeo: there is a lot of , going from sicily, north african countries. we have seen a lot less

david: this is bloomberg, i am david westin. the arrival of the executives of the three big automakers to the white house. donald trump has asked them to come, particularly about employee manufacturing jobs in the united states as opposed to overseas. now we want to go to the morning meeting where we hear what is on the line of key banks. we are joined by benjamin swinburne to take us through the implications for the cable industry. let's start with the sec. he has just said he will name agent high as the new fcc chair. what does that mean with net neutrality? benjamin: yesterday we put out our outlook and as you know, we have overweight ratings on charter and comcast. one of the things we have been warming up to is the regulatory outlook for that sector since the election. the commissioner becoming chairman i think puts an! exclamation point on the outlook. we have to see which way that goes formally, but directionally i think players in the cable sector should feel good about the sec outlook for cable. david: for those who may

we now turn to david westin in new york, who has a very special guest for a deeper discussion on thisomplex issue. david: joining us from california is leon panetta, chairman for the institute of public policy. he has held just about every important post in the legislative branch of the u.s. government. he has been chief of staff to president bill clinton and was director of the central intelligence agency. thank you very much for joining us. let us start with the cyber security issue. i don't remember tight time when we have had this many cyber security issues in an election. we have reports that russians may have tried to interfere with the election. we also have the hillary clinton incident with the private server. the question is, is this prevalent because it is that big of a problem? mr. panetta: i think it is the battlefield of the future, if you want to know the truth. i think cyber attacks will continue to increase the capabilities, and countries are continuing to develop some a countries like russian, iran, china, north korea, will all continue to use cyber attacks incoming a

david westin spoke up woodberry bar.- caught up with barry >> there is a lot of opportunity. we have more in common with the administration than we have at odds. we are looking to strengthen the country, strengthen business performances. we are a big provider of jobs. 1000 -- 100,000 good-paying jobs and we are looking for reform, regulatory streamlining. these are all things that are going to improve our business. >> so there is opportunity for you? >> i believe there is. people need to understand this is a very complex business with long lead times in a product that is build in michigan. those were decisions made a few years ago. we need to understand how investment is made, but look for the opportunity. david: let's talk about autonomous vehicles. where does that project sit right now with gm? everyone has some sort of autonomous venture. we feel good about where we are at. we have vehicles getting real world experience in san francisco, arizona, and now detroit. it is about experiencing all the different situations. san francisco, downtown san francisco. there is not a mu

loomberg i am jonathan ferro with david westin. alix steel is off today. we pick up 2017, markets are big, equities up almost 150 on the dow jones, and global bonds off a treasury lower yield up in today's session. and in the bond market, as well. stopped session for german bonds. and the dollar is stronger. david? david: here's what you need to know, chinese new year, 2017 starts with strong numbers, showing continuing economic expansion and efforts to monitor r" while president-elect trump names a trademark as his chief negotiator and ramps up 20 warnings from the world's second-largest economy. hits and payments, oil a two-month high on use that kuwait and oman are delivering on those promised production cuts. bankers on the move, former itssche bank ceo goes to tear up, while jamie dimon says he wishes jpmorgan could keep all the jobs in london and paris aslooking to let as many 20,000 of britain's finance jobs. that is what you need to know at this hour. turning out to the china story, we are joined by enda curran, and here in new york, our political

trump did not appear at the north american auto show in detroit to make his case in person, but david westinos on donald trump's impact on their business. look forward to this new administration, what are you anticipating or planning for? >> i think there is a lot of opportunity. we have more in common with the incoming administration than we had at odds. there looking to strengthen country. we provide over 100,000 very good, well-paying jobs. we are also looking for some regulatory reform and streamlining. those are all things that will improve our business and allow us to reinvest. david: so there is opportunity for you? >> i believe there is. people need to understand this is a very complex business. the full vehicle built in michigan, and another vehicle is also built in michigan -- those are decisions that were based -- made a few years ago. david: it is also complex in terms of the supply chain. you think -- what are your interests in trade as far as a cross border tax? --h that helped or hurt gm would that help or hurt gm? >> it depends. our strategy that we are proud of is to build w

trump did not appear to make his case in person, but bloomberg's david westin was there. to several ceos about trump's impact on their business. starting with g.m. costs mary barra. -- g.m.'s mary barra. david: what are you anticipating from this new administration and planning for? >> there is a lot of opportunity. we have more in common than we have at odds. we are looking to strengthen the country, strengthen business performance. we are a big provider of jobs with over 100,000 really good paying jobs, and looking for some regulatory streamlining. he has made statements about the tax, so that will improve our business and allow us to reinvest. david: there is opportunity there for you? >> there is. this is a complex business with long lead times. the volt and traverse are built in lansing, michigan. we need to understand how investment is made, but look for opportunities. david: parts cross borders and come back in, assembly done someplace else, what do you anticipate in terms of trade and if there were things like a cross-border tax, would it help or hurt gm? >> it is

appear at the north american auto show in detroit to make his case in person, but bloomberg's david westin talked to several ceos on donald trump's impact on their business. starting with gm. david: as you look forward to this new administration, what are you anticipating or planning for? >> i think there is a lot of opportunity. we have more in common with the the administration and the president-elect than we have at odds. we are looking to strengthen the country. we provide over 100,000 very good paying jobs. we are also looking for some revelatory streamlining. those are all things that will improve our business and allow us to reinvest. david: so there is opportunity for you as you look forward? >> i definitely believe there is. people need to understand this is a very complex business with long lead times. the traverse we just launched was built in lansing, michigan. those decisions were made a few years ago. we need to understand how investment is made, but then look at the opportunity. david: it is also complex in terms of the supply chain. because parts cross borders and assembly

david westin caught up with general motors chair and ceo mary barra for an exclusive interview at theshow and spoke about the upcoming administration. marythere is a lot of opportunity. we have more in common with the administration and president of than we have at odds. we are looking to strengthen the country, strengthen obviously business performance because we , are a big provider of jobs and provide over 100,000 good paying jobs, and looking for reforms, regulatory streamlining, so those are all things that are going to improve our business and allow us to reinvest. david: there is an opportunity there for you? mary i believe there is. : this is a complex business with long lead times. the volt and the traverse are built in lansing, michigan. those were decisions made years ago. we need to understand how investments are made but look for opportunities. david: let's talk about autonomous vehicles. where does that project sit right now at gm? everyone is announcing some sort of autonomous venture. how do you feel about the competition? mary we feel good about where we : are at. we

francine: coming up shortly is "bloomberg daybreak: americas," with david westin, jon ferro, and alixpolitics. david: exactly right. there are several big stories, but one of them is the confirmation hearings as we look at the second day, the rex tillerson confirmation hearings. we have john hofmeister, formerly the head of shell. we will talk to him about what rex tillerson is like and what he will be like as secretary of state. senator frome, the south dakota. this is a much more important job given the economy. tom: david, thank you so much. from london, he watches the fed. rob carnell is dedicated to being the fed watcher in the city. he is with ing, their chief international economist. .e knows the fed has changed within the debate over the future of the fed and the reality of fed policy right now, are they linked? is the discourse in the fed the same as the discussion about when they are going to raise rates? a good question. there is clearly a lot of questioning about what the fed looks like in a year's time, whether the nature of the fed, whether it's independence is going to

i am david westin. we will region -- rejoin bloomberg radio. ng with bill gross. tom: we welcome bloomberg television worldwide and bloomberg radio and we continue our conversation with william gross. everyone wants to know what you feel about trump economics and trump's theory, particularly through the prism earlier this week from lawrence summers, the former secretary of treasury. larry summers was fiery talking about the voodoo economics of a selected group of trump advisors, even calling it -- creationism. is it on solid theoretical ground? mr. gross: on a short-term basis, perhaps. i think that is what larry summers was talking about, creationism is sensitive, but we know about video economics. some of the policy initiatives -- the tax cuts for instance that will generate more revenue. we have heard this before. he is criticizing that and also talking about repatriation of money, $1 trillion or $2 trillion coming back to the economy and regenerating investment, typically and historically back in the early part of this century, 15 years ago

johnson &at was johnson's cfo earlier with david westin. ith more on johnson & johnson's earnings as well as will be can expect in the future, here is jerod. is there more at play here than what was said? remicade andtion some declining numbers there. he did say several times that it is the currency strength of the dollar. in talking with the company, maybe about four analysts were the only ones they said had predicted this guidance with them. so, maybe to them it was just about the currency and that is it. on the call today, none of the analysts i heard disagree with that. vonnie: what about margins? what is the room for them to squeeze margins? down, ande is coming they are looking at a way to offset that with some other possibilities. aey have i/o similar which is remicade whicho affects their guidance and play with that. david: there is a sense of how this affects their deal? >> they had been in discussions for a number of weeks now. they eventually stopped, and then they resumed. they eventually stopped, and then they resumed. it is not

i'm david westin. a trump administration will bring them and nothing is more important there were trump heads on trade. earlier we spoke with anthony ucci and whether they are headed in the same direction. anthony: every one of them is a free trader and not just gary cohn. peter navarro is a free trader. what peter navarro is looking for is fairness in the trade process and an even this in the playing field. design, and by evened thende playing field and our goods and services were embargoed to protect goods and services offshore of the united states. what we want to do is flat that out and make it free and fair and regulated in a way that will protect the american worker and the american middle class. ida is stillrd clar joining us. that always sounds good. who can be something -- again something that is free and fair? how realistic is that in a practical matter? we sit down with presidency and xi and say we're going to change the rules, you have to persuade him up that. richard: the case for free tra

david westin is in washington d c as they prepare for the inauguration of donald trump should here is how -- donald trump should here is how the market -- donald trump. here's how the markets are looking this morning. about 0.1%. we're seeing a real squeeze on shorts on treasuries. right now, the yields are up three basis points. your yield on the u.s. 10 year. a stronger dollar story today with a cable rate of 12234. brexit aftershocks just one day after theresa may lays out her strategy for leaving the european union. they plan to generate 20% of revenue being generated in london now being moved to paris. janet yellen will be speaking with donald trump in san francisco before his inauguration. this follows the biggest rebound on the dollar since its decline in jim. reports say that deutsche bank scrapped bonuses for senior bankers for 2016 because of the lenders' performance. let's get a check on what is going on outside the business news with emma chandra. former president george bush has been taken to the hospital due to shortage of breath. tohas been responding well treatment. he

i am david westin. overnight economic data out of china showing imports were up, exports were down, but if you look inside the export numbers, you see in fact their exports to the 90 states were up. it was really europe they had problems with. we are joined by steve rattner to talk about exactly what is going on in our trade relations with china, which are very much in the news these days. welcome back, steve pearce steve rattner: thanks for having me. david: we are trying to sort through what the trump administration might do with respect to trade with china. how do numbers like this impact? steve: there has been impact in the u.s. i do not make any serious person could relate that. getting to the bottom line, my guess is it will be less rather than more. i do not think the practical realities of putting tariffs or trade verizon china will end up being very appealing to any number of people here. can you climb back up? we had kellyanne conway, and we asked her about labeling china a currency manipulator

jonathan ferro alongside david westin and alix steel. it is a countdown to the truck news conference. the first unchanged session on the s&p 500 since january 1977. the cable rate touching a 1985 low. 120 17. it at treasuries yielding 238 on the u.s. 10 year. alix: it's like straight out of a movie. u.s. intel agencies tell resident trump about unsubstantiated reports that the russian government compiled damaging information on him. the kremlin and donald trump denying reports ahead of trumps news conference later today. the stage is set. former exxon ceo rex tillerson facing a tough confirmation hearing on capitol hill this morning. what we are learning about him and what could stand in the way of him becoming the next secretary of state. 10 year treasury yield hitting 3% went and the three decade rally in bonds. that is what you need to know at this hour. david: as if the president-elect news conference needed any more attention, we have reports of possible russian intelligence hacking of his private information. to set the stage for d

here is david westin. what do you have? ne of the big suspects -- one of the big subjects is the deficit. alice rivlin was vice chair of the fed and also director of omb. she was the first director of the congressional budget office. we will sit down with her and say, how could you really cut the deficit if you need to, and is that consistent with what the president wants to do you go what the president wants to do ye. tom: let me go right now to james sweeney and bring you quickly here, reflation, inflation, disinflation. there is a fear about inflation. is it a 1960's walter heller inflation? james: i think of the moment we are going to get inflation that is higher in major countries, and that could drive market concern about higher inflation given labor markets, wages rising, credit growing. the court inflation, when you strip out the noise, it is not doing that much. tom: let's go to the single best chart and make everybody smarter here with james sweeney. here is goods deflation. thank you, china, thank you, trade. is c

francine: coming up shortly, it is bloomberg daybreak: americas with david westin and jonathan ferro.today at go david: we have some great people. mark kiesel of pimco will be here, talking about how he is hedging against risk going into 2017. health care is a big topic. we heard yesterday congress moving forward with a reversal on obamacare. we have an interesting new tech approach to this. a big new deal today will be announced on the air about how they will help regular patients save. that and a lot more, tom. westin, thank you so much. this is about your wallet, your pocketbook, and your moldy equity account. tony dwyer is with us. this is on stock selection. the trite answer is, where is the next apple? but do you care about stock selection versus etf's fidelity in the news today, that they will go into the etf business very late? do you really care about stock selection? tony: bloomberg has a great story about black rock and the money -- about blackrock and the money that has gone from active management to passive management. you want sustainable outperformance am a but you want

for myself, jonathan ferro, and david westin, and the whole of the team, this is bloomberg. ♪ vonnie:e quinn. mark: live from london, i'm mark barton. welcome to "bloomberg markets." vonnie: we are going to take you from san francisco to london and cover stories out of washington, moscow, and dubai in the next hour. first, u.s. economic data crossing the bloomberg. julie hyman is here. julie: we have the isn nonmanufacturing composite. the largest portion of the u.s. economy coming in at 57.2. 56.8% was the estimate. coming in ahead of estimates. more positive economic data has come as a late. service industries coming in faster than forecasted. sincethe highest level october 2015. seeing a mixed picture in stocks as we get these numbers. this was the picture and what it looked like going into it. the dow and the

i'm jonathan ferro alongside david westin and alix steel. the markets are at all-time highs.eryu switch up the board quickly, treasuries. yields up. the dollar weaker against pretty much everything in the g 10 space. david: here is what you need to know right now. record watch. record and nasdaq at highs. dow 20,000 could come right near the opening bell. technical support. take names in the tech sector kickoff earnings tomorrow with alphabet reap porting that's reporting after -- alphabet reporting after the close today. up against a wall. president donald trump signs actions on national security that are expected to include steps toward building a wall on a mexican border. the news sent the peso to record lows, but it is now reversed. alix: let's look at the dow 20,000 in perspective. it is that nice, juicy round number that a lot of traders and up watching. the dow futures are pointing up 92 points right now and so we would breach that. that would be 64 days since we went from 19,000 to 20,000. that shows the days to make 1000 points. that is the second fastest 1000 point

loomberg i am jonathan ferro with david westin. alix steel is off today.global bonds off a treasury lower yield up in today's session. and in the bond market, as well. stopped session for german bonds. and the dollar is stronger. david? david: here's what you need to know, chinese new year, 2017 starts with strong numbers, showing continuing economic expansion and efforts to monitor r" while president-elect trump names a trademark as his chief negotiator and ramps up 20 warnings from the world's second-largest economy. hits and payments, oil a two-month high on use that kuwait and oman are delivering on those promised production cuts.

i am jonathan ferro alongside david westin and alex deal. we are on record highs across the board.by 11 points. things are stable. just 30 minutes away from the open. treasury yields are higher. the dollar is stronger against much everything. >> america first. the dow topping 20,000, making history on wall street. record highs fueling a rally in global equities. come what may, u.k. government publishing a bill to trickle our -- trigger article 50 for a high-stakes meeting with president trump. johnson and johnson fulfills its goal of getting a new drug category to buy xle on for $30 million. dealer to begest completed next quarter. that is what you need to know. david? david: markets are up around the world today. 20,000, overd over 20,000 for the first time in history. we asked a range of experts what this means and where it goes from here. >> my hope is it is emblematic of a healthy growing economy that is going to benefit all slots of society. -- >> we see a stimulated isironment if trump successful which is positive for the united states and slightly negative for the rest of th

francine: david westin with "bloomberg daybreak: americas."of eurasia group and joins us now on the phone. he is one of the most outspoken -- i do not know if it is critics, but he is very knowledgeable about foreign policy. what does a travel ban do on animal spirits in the u.s.? i don't think it will have a negative effect on the way people think about the u.s. market. you have a number of ceo's, particularly in the tech community, that have been posing it, but it is much more fundamental about whatever -- about what a republican congress and president can do to make the u.s. attractive on taxes and on infrastructure builds and the rest. much more is the question, what is the impact outside the united states on america's relationships globally. learn?e: so what did you did you learn about the way that donald trump will govern at the white house, or did you learn more about the constitutional defenses in the way that the american rule of law works? ian: i think we have learned more about the way he is going to govern. this entire fan was put

i am alongside david westin and alix steel. openinges away from the bell. futures are softer.ter. we said it earlier, so many people sell for the inauguration. not must, out there in the equity market. yields are lower by three basis points. it is a weaker dollar story that dominates the g 10 space. trading at a 113 handle. reality bites. the trump trade unwinds. a six-week low off the worst start to the year since 2009. sinces the tightest trade 2007. hedge funds and other speculators boost their short movements. and the first 100 days. in the tumultuous first weekend, trump sticks to his combative persona. we address his first orders and developments in the cabinet next. alix: we have relatively movers. there are big movers here. this is the broad story. apple is piling onto a lawsuit against qualcomm about the licensing for technology for mobile phones. this gets downgraded. target city lowering the loyalty rate outlook. flat.is relatively but some say this lawsuit could be a way for apple to improve the iphone margin via the lowest speeds. and intel is up .3%, a potential

and alongside david westin alix steel.haracterized by the trump trade squeeze. we are softer on futures. negative five on the s&p 500. we lookset classes, like this. we talked about crowded conviction trade. 233 with the yield on the u.s. 10 year. a weaker dollar in this space. squeeze.e trump trade the dollar slides and treasuries gain after a news conference sent a wake-up call to the markets leaving more questions than answers. big pharma bust. millions of dollars in minutes after donald trump said companies were getting away with murder when it comes to pricing. rex tillerson saying china must be denied access to what he claims our islands built in the south china sea. this is a move that would raise tensions between the world against economies. now, we go to alix steel. alix: we take a look at the stocks making big moves. i 1.5%.t one is -- up it got hit yesterday but it did get three of rates today. analysts are citing expectations for fda approvals for the first line cancer drug. on the downside, check out skyworks

david westin is in washington d c as they prepare for the inauguration of donald trump should here is is how the market -- donald trump. here's how the markets are looking this morning. about 0.1%. we're seeing a real squeeze on shorts on treasuries. right now, the yields are up three basis points. your yield on the u.s. 10 year. a stronger dollar story today with a cable rate of 12234. brexit aftershocks just one day after theresa may lays out her strategy for leaving the european union.

earlier today, david westin asked mark fields about vehicle sales and profitability throughout 2016.very positive year for us and our cash liquidity is strong. we distributed $3.5 billion to shareholders last year. a very good year following a record year that we had in 2015. w: you have record profits in north america. at the same time, vehicle sales are softening. are you shifting toward europe and china? you were profitable in europe for the first time last year. of our objectives as a company is to get a better balance of profitability. as we get into 2017 we expect that our profits are going to be -- continue to be strong. at the same time in europe and china, we are going to continue our positive performance. we expect europe to be that -- to be down a bit based on the weakening of the sterling because of brexit. david w: i am glad you mentioned 2010 at you are indicating it might be a little bit softer. that is based on your new initiatives. tell us about those plans and what they do to your bottom line. mark: when we look at 2017 we will have another good year at fort. it wil

westin -- and david all saying happy friday to you. coverage continues right here on bloomberg.eeting of minds between the prime and esther of the united kingdom and united states. full coverage on bloomberg. it's 10 a.m. in new york, 3 p.m. in london and -- in hong kong. mark: welcome to bloomberg markets. vonnie: stores at a san francisco, tokyo, and paris. breaking data in the u.s. following gdp and durable goods orders. consumertest read on confidence, coming in at 98.5. this is from the university of michigan. the current condition index lower than estimated. it looks like expectations are what led to that there. of thating on the heels gdp number for the last quarter. read issumer confidence a 13 year high.

david: you need to get ready for this new announcement. thank you so much. back to you. westinank you. still ahead, an exclusive --.rview with keep an eye on stocks moving in the united states. down 2/10 of a percent. the nasdaq is up about 1/10 of 1%. elsewhere, a little bit of buying this morning. we have had three weeks of buying in the treasury markets. there is lots going on in europe. mark: the ftse, 10 days of gains. eight have propelled the ftse to a record high, just under an hour to go before the end of the session. we are in london. -- we are up in london. ♪ ♪ vonnie: live from bloomberg world headquarters. markets."loomberg i am a vonnie quinn. mark: and i and mark parker. let's go to first word news with emma chandra. korean leader kim jong-un says that the missiles -- the missile is in the final stage of development. a new poll shows that more than half of americans view president obama favorably as he leaves the office. merrick is said they view him aboutbly and that only 37% viewed him unfavorably. the family is trying to rain -- afterin spending shortfall due t