modi, modi, modi! and whose control over india is now absolute.me minister narendra modi has just delivered a stunning victory for his party in the country's political heartland, uttar pradesh, and at the bjp headquarters, it's time to celebrate. the party now controls more than half of india's state governments, leaving the opposition trailing in the dust. translation: this is a historic win. the people of uttar pradesh

modi, modi, modi! and whose control over india is now absolute.s just delivered a stunning victory for his party in the country's political heartland, uttar pradesh, and at the bjp headquarters, it's time to celebrate. the party now controls more than half of india's state governments, leaving the opposition trailing in the dust. translation: this is a historic win. the people of uttar pradesh have put their faith in prime minister narendra modi. translation: his hard work speaks for itself. he's always working for our country's development. how could you not trust him? these mightjust be local elections, but there's a reason why the bjp and its supporters are so pleased with this victory. it means that narendra modi's grip over india has consolidated after this victory. it means that he has very few challengers looking ahead to the next general elections in 2019. and most of all, it means that he can take risky political decisions and win. late last year, indians faced massive cash shortages after mr modi's shock decision to ban high—denomination

modi, modi, modi! and his control over india is now absolute.odi has delivered a stunning victory for his party in the country's heartland, and at the b] p the country's heartland, and at the bjp headquarters at this time to celebrate. party now controls more than half of india's state governments, leaving the opposition trailing in the dust. translation: this is a historic win. the people of this state put their faith in the prime minister. these mightjust be local elections, but there's a reason why the bjp and its supporters are so pleased with this victory. it means that narendra modi's grip over india has consolidated after this victory. it means that he has very few challengers looking ahead to the next general elections in 2019. and most of all, it means that he can take risky political decisions and win. late last year, indians faced massive cash shortages after mr modi's shock decision to ban high—denomination banknotes. it effectively sucked out more than 80% of the total currency in circulation, creating hardship for many, especially

indian prime minister narendra modi modi has won a resounding victory, a result that will let him pushnda. it will put them and a prime position for a second term in 2019. let's bring in our bloomberg view editor live from our singapore studio. crucial win for prime minister modi after this chaos from this cash ban last year. is it a sign, the selection, that prime minister modi's de-monetization policy was in fact a success? can gon't know if you quite that far. it caused a lot of pain. there was chaos and confusion and say on, but voters were persuaded that for minister modi had their best interests at heart, not doing this to political power or for corrupt reasons, that he had the right goals in mind and they felt that people who had been -- would suffer more pain. now?e: what does this mean how strong of a position is prime minister modi and now? can he push through these big reforms that investors have been clamoring for? hope.t is clearly the there are two reasons to be cautious about that. does of all, this election not change the math in the upper house of parliament, and that

emphatic wing that by prime minister modi.not blamed for the chaos following his ban on high denomination bills. david, all things equal, this is good for the rupee? >> certainly in the short-term. the one-month non-deliverable fords are open and gaining versus the dollar. markets are happy with the result, a quite convincing result, so going forward, the markets are expecting reforms to be pushed through. they were not happen overnight, but looking forward to expecting more, and if that spurns growth come that is good for the rupee short-term. the fed is the other side in terms of the dollar-rupee. it will be a tug-of-war between the two. david: just to really have a look under the hood, when you look at these currency pairs in asia, it is the fed or expectations they will move this week underpinning these moves up in terms of the crosses. how big is a factor the fed? >> it is a factor. stabilityhas had some of the last couple of years. during the taper tantrum it went from 54 to 68 at couple of months. because current accoun

these results are crucialfor prime mr narendra modi and his party.or local election after the indian government withdrew 86% of the currency in circulation, disrupting the lives of millions across the country. that is why many have turned these elections on a referendum about that decision. the other crucial aspect is that despite having a majority in the low house of parliament, narendra modi's party is still in a minority in the upper house, when members are elected by the various state councils. this often the various state councils. this ofte n a cts the various state councils. this often acts as a roadblock when it comes to passing legislation. a victory in uttar pradesh will help increase his party's legislative strength in the upper house, which will give him political muscle to push through economic reforms like the implementation of the goods and services tax, cut red tape, and introduce more laws to tackle corruption. but if he loses many a nalysts corruption. but if he loses many analysts worry he might shift his focus to populist policies

yogi will prove that he is coming with the same agenda that modi is pursuing.a modi after a landslide eatery in the state elections earlier this month. the choice is being seen as a decisive moment in mr modi's leadership of india. you wonder whether the wheels have fallen, and whether the wheels have fallen, and whether when you remove the mask, what you see behind the spry minister who harps about development and this sort of very inclusive paradyne, actually the mask is a false one, and that behind this mask you have a very devious man who believes that india is a country of hindus only. yogi adityanath's political career began a quarter of a century ago, in the unrest that followed the destruction of a 16th century mosque by a hindu mob. he has vowed to build a hindu temple on the site, a move that would risk reopening one of the deepest wounds in modern indian history. united airlines has faced a barrage of criticism after it barred two teenage girls from boarding a flight for wearing leggings. a third girl, aged ten, also wearing leggings, was only allowe

this happened only after narendra modi came to power.hat's it for newsday. see you again at the top of the hour. good morning. yesterday was a funny day. mild for some of us but not that much in the way of sunshine. favoured spots northern ireland and northern england. a beautiful weather watchers picture from bjork, with the daffodils shining brightly. despite the full bloom in the south—east corner there was quite a lot of cloud around. temperatures peaking at 50 degrees, so a mild albeit dull day. —— 15. at times there were showery outbreaks of rain. showers continuing up into the far north and they will continue through the night tonight. at the same time the weather front to the south slowly drifts up into the near continent, but it takes its time in doing so. that means we keep the cloud and we keep some drizzle to the south of the ma corridor. poor visibility and coastal and hill fog. a few sharp showers continuing. here it will be chilly enough for a touch of snow to the tops of the mountains, a mild into the south. we start off

modi won 312 seats from the assembly. of the race in india's largest state were seen as an indicator of modi's popularity. the country's markets reopened tomorrow after a public holiday. ousted south korean president park geun-hye is remaining defiant after being removed from office. private hometo her yesterday after leaving the presidential palace to be greeted by supporters. in her first public statement, she said she was confident the truth will come out. park is facing criminal charges for abusing presidential powers for personal gain. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. matt: thanks very much. bitcoin suffered a brief setback from its record-breaking rally when the securities and exchange commission rejected the listing of a bitcoin exchange traded fund. the digital currency has now almost fully recovered from the 18% drop. let's get to robin, our fx editor in hong kong. are investors just not fazed at all by the sec decision? j

the victory gives modi momentum toward winning a second term in the 2019 elections and pushing for more economic and political reforms. the win also overcame modi's controversial decision last year to fight corruption by suddenly replacing high value banknotes, which temporarily left banks and millions of indians without cash. south korea's impeached president remains out of sight a full day after the country's highest court removed her from office due to a corruption scandal. supporters of park geun-hye, decrying a "political assassination," were well outnumbered on the streets of seoul today by thousands of demonstrators who support her removal. nearly 20,000 police were deployed to avoid a repeat of yesterday's clashes between the two sides. park assumed office in 2012 as the country's first female president. an election to replace her is expected within two months. a diplomatic row between nato allies turkey and the netherlands escalated today when the netherlands, citing security concerns, blocked a scheduled visit by the turkish foreign minister to the dutch city of rotterdam. for

the government of prime minister narendra modi suddenly abolished the bank notes in november. officials said the move was to fight tax evasion. it hurt consumption, raising concerns over the economy, but modi said the bank note ban had only a temporary effect. >>> major businesses across japan are kicking off their seasonal recruitment drive. the activities are targeting college students who will graduate in a year from now. an ongoing national labor shortage means it is going to be another seller's market. large companies officially start recruitment on the same day, march 1st. this is based on guidelines from japan's largest business federation. firms are holding meetings to explain their business activities and hiring processes. interviews are scheduled to get under way in june. recruitment agencies say a growing number of students are interested in what kind of workplace environments are on offer. many businesses are expected to boast having flexible work environments, stressing child care benefits and systems that prevent long working hours. >>> long term interest rates h

i'm seema mody, get all your business news on cnbc. >> lots to talk about over the next couple days.look at temperatures in our philadelphia neighborhood. temperatures in the 20s. it's feeling like for some of us teens outside because we have a breeze. 22 in andorra, 25 in center city, 24 at the airport, 24 for torresdale and port richmond at 25. right now we're not talking single digits, but still very cold out there, especially considering we're in march where now we are typically seeing numbers start to boost up a bit more. what we're looking at is a cold pattern that holds tight our entire week as we go through our workweek. radar and satellite, this is the view i was showing off yesterday. not a lot to track in our area. no snow to speak of, no rain. instead just some clouds and later today sun that will mix together. forecast highs, 36 in center city and 37 in somerton. low to mid 30s for the suburbs. you see in the lehigh valley upper 20s to mid 30s. all of us are staying fairly cold outside. upper 30s for a few spots along the shore at 36, cape may. mid to upper 30s for areas

i'm seema mody, get all your business news on cnbc. >>> the irish prime minister is in our area.n da kenny was honored in newtown square last night. today prime minister kenny will be at the philadelphia st. patrick's day parade and this weekend meeting with president trump. ♪ >> good music, plenty of food to go around at the cheers for charity event in norristown, montgomery county. team g riders held a fund-raiser, they raise money for fallen officers, the american cancer society and national ms society. >>> future seeing eye dogs are learning new lessons than bs to septa. the puppies had the first trip on the bus. the experience helps them to learn behavioral skills like getting on and off a crowded bus. >> obviously a lot of people don't drive a car, so they depend on public transportation. the dogs have to handle public transportation. these dogs are their line to independence. >> the dogs will stay with their foster families for the next year so they can get trained and then return to the seeing eye program to be placed with somebody who needs them. >>> let's just fast forw

the results are being seen as a personal triumph for mr modi. now it is time for reporters. welcome to reporters. i'm philippa thomas. from here in the world's news room, we send our correspondents to bring you the best stories from across the globe. in this week's programme. inside north waziristan. owen bennett—jones finds the pakistan army back in control of the tribal area on the afghan border, after a huge military operation to clear out al-qaeda and the taliban. around one million people from north waziristan fled when the conflict was at its height, and the question now is will they come back? saved from slavery and worse. naomi grimley meets the young yazidis who escaped the so—called islamic state to find refuge in germany. a genocide in the making. alastair leithead reports from south sudan on claims of new atrocities by government forces and local militia. making china's skies blue again. carrie gracie investigates beijing's new measures against old polluting vehicles. the chinese economy is still fuelled by coal. and in the one party state there is little the pub

the rupestrength strengthening the dollar after modi's win in some big elections.key heartland states which were surprises. they are having a market impact here, strengthening his case for his economic reform agenda which has been embraced by the market. he doesn't face a national election until 2019, but these local state wins did come up, as i said, as a bit of a surprise and support for him and his party and agenda. >> and offsets some local election losses in the last 12 to 18 months that he had faced. look at that. on a tear. that's the local stock market. >>> when we come back, the stocks to watch including valea valeant. bill ackman throwing in the towel, selling his stake after a multibillion dollar loss. stay tuned. you're watching "worldwide exchange" live from times square on cnbc. >>> welcome back to "worldwide exchange." just getting our times square selfies taken and loaded up. >> it's a beautiful scene. snow coming down. >> you can see futures pointing lower. 20 points or so for the dow. coming off a day where we were essentially flat. intel declined

about $508ecent million. >> prime minister narendra modi's victory could boost indian markets.ore on the story from singapore. some weakness in indian equities. the market looks at the week -- looks a bit weak. traders are excited about india, even at current levels. expensive may look for most of the investors are taking comfort in the fact that landslidehad a victory. 8%cent will give about return. if you look closely, a lot of arguments are made by the guys saying india always commands premium valuations but a premium has -- compared to the paid premium to the rest of the region. context,ok at the india still looks good. side, foreign positioning the foreign flows will remain robust. the again thousand 17 looking for reasons to sell india. does this mean they are capitulating? , that happen for about four months. if you look at the last month, foreign flows have come back. march will be the second consecutive month of foreign inflows. we talked to a lot of the guys who are expecting close to $20 billion. a lot of guys said that when wouldas the leection, it bump up flow. inv

i'm seema mody.partners warning about buying stocks ahead of the fed while all is 11 are down since 1994, materials fair the worst followed by consumer discretionary. the s&p 500 has dropped by almost half a percentage. now back to scott and the halftime traders. >> thank you. how do you want to play this? >> i think it's so well advertised in terms of the fed going, there's hardly a person here who doesn't think they're going. i don't play it at all. >> what happens if they don't? >> they don't, it's kind of interesting. you'll see the ten-year collapse -- sorry, you'd see the ten-year yield. >> in one of the three notes if the fed for some reason doesn't go, you're going to see a market selloff. >> you will. even the dolphs want them to go. >> anything cyclical, you see staples utilities reach, just rally like you haven't seen since last spring. >> okay. let's do the blitz. let's start with pete. intel is buying it, pete. $15.3 billion. what do you think about this deal? >> well, what i think is re

the elections are being seen as modi's success halfway through his term as prime minister.news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm courtney collins. this is bloomberg. betty: time to see how the asian markets are shaping up so far this morning. david inglis has more. david: let me get started with the bond markets. are we really there yet? we have been talking about the 2.6%. german 10 year bonds pushing closer to two -- 220 basis points on that spread. on the aussie 10 year, japan -- yields were lower. generally speaking, the bond selloff -- quick snapshot of the equity markets. these three markets pretty much look range bound today. australia, new zealand, and all the concerns over in south korea. i can't really see anything that breaks us out of this. nothing i see at the moment, any sort of catalyst. japan is one market to watch. 90% of stocks. on their way up in japan a lot of stocks on -- their way up in japan. a lot of this comes down to dollar-yen. this takes us to 19,600 there. on the nikkei 225, have

i'm seema mody.ness news on cnbc. >>> 6:47 right now on this sunday. 24 degrees outside. krystal klei and our team of meteorologists will be very busy over the next few days. we are tracking some snow. before that significant snowfall arrives, we're dealing with frigid temperatures out there this morning. fill us in. >> this is a busy forecast for us. we've been talking constantly over the last couple days. we'll get to the snow potential in a minute. let's start with the cold. delaware neighborhoods, at 23 in harmon any hills. glean ville, 21. middletown at 24 degrees right now. farther south, low 20s as well. lincoln 22, allendale 22 and rehoboth beach 24 degrees. you get out the door early on this morning, you've got to layer up. as you head out through the rest of the day, it will still be quite cold, only getting into the mid and upper 30s through parts of delaware. here is our neighborhood temperatures for this afternoon, 36 in center city and 32 lansda lansdale. allentown about the same, kwuts

the party led by the indian prime minister van rhijn the modi as won elections by a landslide. —— nurindermi 0bi. comment about ten o'clock, kate silverton will have a round—up of day's news. now it's time for our world. jonah fisher investigates allegations of mass murder and rape among myanmar‘s rohingya minority, and asks why burmese leader and democracy icon — aung san suu kyi — has failed to stop what the un is calling crimes against humanity. the film contains distressing images from the start. for the last five months, we've been receiving graphic video from a part of myanmar that is closed to the outside world. the burmese government wants to keep what's happening secret. the united nations gives us their devastating statement. definite crimes against humanity. this is a country emerging from decades of military rule, but we meet those who have been left behind in the 21st century muslim ghetto. what would happen if you went out that gate? and we ask whether myanmar‘s democracy icon has sacrificed her principles. in pursuit of power. the united nations has accused this country of c

back to seema mody. >> hi, kelly.ling which has more information about chipotle. there are no current plans to sell chipotle shares. the agreement as stated in the filing allows chipotle to sell pershing's shares from, quote, time to time in the future. but again, no sale right now. back to you. >> seemed like an oddly quick turnaround and the shares weren't down that much. listen, we don't know exactly what is behind all of this. >> i think maybe if you get to a 10% holding, there might be something formally that you have to register if you intend to sell at some point. i don't know if that's true. it seems a mechanical kind of legalistic thing. >> chipotle shares down less than 1% on all of this. don't want to shell out $500 for an oculus headset. imax has the solution to give you a vr experience without the haeftsy price tag and the company's ceo will tell us about it right after this. hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfor

i'm seema mody. energy stocks are holding on to slight gains, making it one of the top-performing sectors in the s&p 500, this after falling under significant pressure last week in response to the sharp decline in wti crude prices, which are currently hovering around $48 a barrel, a three-month low. names leading the sector higher today include chesapeake energy, southwestern energy and marathon petroleum, all up about 2%. the sector, though, still the worst-performing sector year to date. now let's send it back to carl and the gang for the start of "squawk alley." >> all right, seema. thank you very much! it is 8:00 a.m. at santa clara headquarters of intel. it's 11:00 a.m. on wall street, and "squawk alley" is live. ♪ >>> good morning. welcome back to "squawk alley." i'm carl quintanilla with jon fortt and sara eisen at post 9. >>> the deal of the day, intel buying mobileye, and shares of mobileye soaring 30%. we'll talk to intel's brian krzanich later in the hour. >>> meantime, the trump white hou

. ♪ ♪ joe: indian prime minister narendra modi's bjp party triumphed in state elections.overnment's decision last november to withdraw 86 percent of india's outstanding currency from circulation. at theearch director jerome levy forecasting center says the bjp's success is due to a rising middle class. thanks for having us back on the show. a big surprise when -- win for the party. i learned this weekend, this state election is the third biggest selection in the world. there is the indian election, and the state is so big, it is the third biggest in the world on its own. would be, like, the fifth biggest country. joe: what is the big political takeaway? >> one thing, it clearly gives the prime minister and the party mandate to continue with policies. importantly, the prime doesn't have ay majority in the upper house. in 2018, this will enable them to get a majority in the upper house so they can follow more of their policies without opposition. scarlet: investors had a read through following the state election result, they were looking into 2018, saying modi will move ahe

senior military officials point to a speech by indian prime minister narendra modi last year in whichople between balochistan and a gun getting tighter. that is in part because there is so much violence in balochistan. —— afghanistan. there are so many balochistan. —— afghanistan. there are so many claims and counterclaims. kabul says the afghan taliban up based here in pakistan and go that way to carry out attacks in balochistan. but balochistan says they are based on that side of the border in afghanistan and launch attacks within pakistan. both sides claim to be able to see what is happening on the other side of their border. and all the while, the regional politics in balochistan gets ever more complicated. owen bennettjones, bbc news, the capital of balochistan. let's take you to a coffee shop in shanghai. here, all the employees are from families affected by hiv—aids. apart from giving them a job and skills, the cafe is trying to tackle the stigma still associated with the virus. but as the bbc‘s robin brant discovered, that's not proving so easy. we are trying to push them to b

. >>> to sima modi for a market flash. >> bank stocks in focus. close to hitting new highs.n, netflix. all within .5% of hitting their 52-week highs. similar story for google as the broader tech sector hits its highest level since 2000. the move, of course, in facebook coming ahead of snap's highly anticipated ipo at the new york stock exchange. facebook's instagram stories and whatsapp messaging seen as a rival to snap's offering. kelly and bill. >> thank you very much. let's get to the break and come back because, what a day we are having. with 40 minutes left in the trading session. dow up 336 points. comfortably above 21,000. we have a record there. s&p, same thing. we have been at 2400. nasdaq up a third and russell with a 2% gain. >> we'll tell you why intel is sitting this rally out next. >>> former economic council director larry lindsey will be here weighing in on the president's comments about tax reform and whether wall street will get the plan it is expecting. that's still to come. bp engineers use underwater robots, so they can keep watch over operations below t

five states voting for new governments in elections seen as a referendum on prime minister narendra modinorthern state of uttarakhand. supporters of the ousted south korean president, park geun—hye, have clashed with police for a second day following ms park's removalfrom office. she's been linked to a corruption scandal involving some of south korea's top businesses. there have also been demonstrations in favour of the court decision to impeach her. the two sides are being kept apart by barricades patrolled by police officers dressed in riot gear. three people died in scuffles. stephen evans sent this from the capital, seoul. supporters of the ex—president have been out demonstrating their anger. they say the judges who dismissed park geun—hye were motivated by politics. this is the centre of seoul. this is one of the main streets in the centre of seoul. that's the police barrier right down the middle of the street. what you can't see is that right behind that barrier there are hundreds of police and vehicles and then beyond that, anti—park people. they've set up effigies of the disgrac

let's get to seema mody. >> hi, melissa.ant to point your attention to emerging market stocks posting their biggest weekly gain since july of last year. this follows a fed rate hike this week, which typically is a negative for the emerging world. it makes their dollar dominated debt more expensive. some strategists now say brazil, russia, india, china are now better positioned to handle a u.s. rate hike. and the equity team just yesterday upgrading emerging markets to overweight, following a bullish note from blackrock and jp morgan and this renewed confidence in china despite its concern over credit/debt challenges if you will. s&p upgraded russia's outlook to positive, citing the rebound in oil prices. michelle? >> good rundown there. thank you, seema. >>> we are standing by, waiting for the first joint news conference between president trump and german chancellor angela merkel. part of the entourage is streaming into the room right now. don't go anywhere. we'll be right back. e*trade's powerful trading tools, give you acc

seema mody, what did the s.e.c. decide?ing the request for a rule change that would have effectively allowed the bitcoin e.t.f. to list on the b.a.t. exchange. it throws cold water on two other bitcoin that were looking to list on the new york stock exchange. the sec issuing this order disapproving the request for a rule change that would have allowed that wrinklevos trust to list on the b.a.t. exchange. in response, we are looking at bitcoin, the virtual currency down about 15%. this, of course, after hitting a record high this morning on anticipating that the s.e.c. would approve the etf request. the virtual currency falling here, kelly. >> seema, thank you. wow. it's giving back 2/3 of the -- >> i'm not touching bitcoin. i'm not touching either snap or bitcoin. >> is it fair to lump them together? >> not necessarily. >> you kind of could in lots of ways but i don't want to get into that debate. i think the argument that charlie was just having about what your prognosis is for inflation, that is the key question. and it's

seen as a decisive moment in mr modi‘s leadership of india. being seen as a decisive moment in mr modi'sether or when you re move fallen, and whether or when you remove the moss, what you see behind this prime minister that harps on about development and this inclusive paradigms, actually the mask is a. four is behind this mask, you have a very divisive man, who believes that india isa very divisive man, who believes that india is a country of hindus only. yogi adityanath‘s india is a country of hindus only. yogi aditya nath‘s political career began a quarter of a century ago in the unrest that followed the destruction of a 16th century mosque bya hindu mob. he‘s destruction of a 16th century mosque by a hindu mob. he‘s vowed to build a hindu temple on the site, and that isa a hindu temple on the site, and that is a move that risks reopening one of the deepest wounds in modern indian history. scientists from new york university have published a new theory which could explain why our brains are so large. their new study, which examined the skulls of primates including monkeys, lemurs and

brad: he was in india recently, appeared with prime minister modi. they've invested a lot in japan.hink he is welcomed as a pioneer, which he is. what he's bringing out to these parts of asia is something called the "trips platform." airbnb wants to give travelers things to do, experiences. when you go to shanghai, go to the traditional folk opera. go see the figurines. that is powerful and an innovative idea, that you can give people often it things to do when they travel -- give people authentic things to do when they travel. people are responding well to it. caroline: sequoia, an investor in airbnb, has a chinese arm. they said they would help airbnb moving to china, and they would help with the search for a ceo for airbnb in china. that still hasn't happened. it feels like this has been a long time coming. brad: this is the road that every u.s. internet company must travel in china. we saw uber do the same thing and then retreat from china last year. there is a home-field advantage in china. people prefer the local player. the local player tends to integrate more with tools from

>> long-term is really attractive, and with modi winning, that is positive. concentrating on implementing reforms as opposed to gather attention or a positive vote, and also because of the increase in power in the upper house, it bodes well for implementing reforms, so it is still attractive. the d-monetization had a knock on effect short-term. it should work. he is trying to make the informal economy formal. -90 7% ofthey got 96% those notes back, which shows you it may have been the wrong targeted form of reform there could of just putting it out there. >> we could see more consolidation and unity in india. it will be one unified taxation system. chinese inead of the recognizing nonperforming loans, which is positive. rishaad: china market next quarter. >> it will be underpinned by support and fund flows will come through, and the results have been good so far, so expect china to continue on the path it has been on. a-shows will come back too. rishaad: thank you so much indeed. coming up, singapore looking for tieups abroad despite increasing resistance to

seema modi and abhay of center stone investors. >> we're finding opportunity just for you.has three oil stock picks he loves with a bit of a caveat. plus, last weakek eric cant toxr told us the repeal of obamacare would pass. it did not. and holy horse power, president trump's ferrari is for sale. how you can buy it and why the seller is clearly hoping for some kind of trump bump. power lunch will be back right after this. [weather reporter]: governor has declared a winter weather emergency... announcer: soon, insurance companies won't pay for damages, that is, not if they can help prevent damages from happening in the first place. at cognizant, we're turning the industry known for processing claims, into one focused on prevention with predictive analytics... helping them proactively protect the things that matter most. get ready. because we're helping leading companies lead with digital. xfini'll get my coat.ek is back. meaning you can catch up on all the moments you might have missed. you seriously can't tell the difference between a bird and a plane? like that time gwen

seema mody is looking at changes to h 1b visas.ing how this order could impact travel. seema, let's start with you. >> it may just be a temporary suspension on h1bs, but the impact could be significant. silicon valley is dependent on the h1b visa to recruit highly skilled foreign talent. over half of the visas given every year go to the technology industry, coders, designers, folks who work in software, hardware, from countries like india and china, outsourcing firms have been under pressure the past couple of weeks, over concerns around h1b visa reform. it's not limited to outsourcing. big tech companies, apple, alphabet, amazon, microsoft use l1b visas. any restriction or increase in salary requirements could result in big tech sending more jobs offshore. the suspension on those seeking the fast track h1b process goes into effect april 3rd. some say this is a temporary solution to what could be a broader overhaul of the visa program. lawmakers arguing for reform say it allows them to pass over american workers and bring in foreig

he is talking about health care and a phone call that the president had with prime minister modi of indiau can watch the rest of the press briefing on tv on the bloomberg. this is bloomberg. ♪ >> it is 2 p.m. in new york, 11:00 a.m. in san francisco, 6 p.m. in london. i'm scarlet fu. >> welcome to "bloomberg markets." ♪ scarlet: we are alive and bloomberg world headquarters in new york over the next hour, covering stories out of new orleans, washington, and kuwait. you'rthe top stories we are covering. market stocks, attempted to come back from the early morning selloff, now they are just kind of hovering in the little changed area. thanks, trimming declines as investors assess the president's agenda. all abouts it is now tax reform. sean spicer speaking at the moment, telling supporters of president trump is serious about working with democrats. oil falling as opec producers say they need more time to pull up stockpiles. in an exclusive interview bloomberg is told that he thinks the market will be balanced by the end of this year.

modi and president trump get along very well.e same with russia. >> russia has turned into a manufacturing sector. i think politics has become even more difficult now, with these two countries coming together, but russia -- i was in st. petersburg two years ago for the international conference, and i have seen the manufacturing base grow. i have seen companies talk about that. they have a weak currency and good labor force, and after two years, we have seen more and more manufacturing plants coming into russia, so i think they are going to be a winner from this. betty: thank you so much for joining us. i appreciate that. compelling arguments on the winners and some losers, obviously, in this protectionist rhetoric we are hearing from washington. much more ahead. to raise or not to raise? we are going to hear the view from julius baer. that is next. this is bloomberg. ♪ betty: this is "daybreak asia." i'm betty liu in new york. yvonne: i am yvonne man in hong kong. momentum seems to be building for a rate rise, and a julius baer s

i'm seema mody. the fed meeting and what many analysts think will be a rate hike, our partners at kensho say health care has been the best performing sectors during a rate hike cycle since 1994. we've been in this position 33 times, the second top performer is financials, followed by energy, up 1%, the s&p 500 up a 0.8% in the week before a fed decision in a rate hike cycle. now back to scott. who says you can't make money when the fed hikes rates. >> the gang here is looking to do that. . where do you want to do it? obvious places, the financials. >> you've seen some ease decently, and i think that's wrong. it's regs and taxes as well as these rates. those three i think are significant drivers. >> there's your performance year to date by the s&p 500 sectors. wyche, tech, leading the way. what's your sector play? you want to get ahead of it, not after it. >> i still like financials. they're having a great day today, i think partly due to dave's comments today, or in large part due to dave's comments,

let's get to seema mody. the german dax hitting a multi-year high.n we first got the announcement that uk prime minister may had triggered the brexit process, the pound spiked for a brief period of time. as for the ftse, stocks recouping their losses gaining around 24 points. in the meantime, executives are pressuring theresa may to secure a brexit deal that won't hurt business. ryan air, today, warrening that the uk could be left without any flights to and from europe after the brexit happens if both sides do not negotiate to prioritize aviation. airlines in the uk need to fiblize their summer schedules by march of next year. >> still to come, the quads are coming, one of the biggest asset managers swapping out humans for machines in a very big way. impact on the industry and your money is next. money is next. what's happening here? hey nicole, this is my new alert system for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts for all the things that are important to you. shhh. alerts on an

. >> i'm seema mody in for sara eisen today. i was thinking you do the introduce, wilfred.orry. >> i left it up to you, it's great to have you with us. good morning to you. let's get straight to the market picture this morning. it comes off a day yesterday where we were pretty sharply down at the open. we were down about 0.2% midday, but ended down only about 0.2 for the dow. the nasdaq was slightly positive. banks certainly had led the markets. they also led the rebound somewhat. either way by the sector performance, telcos were the worst. healthcare the best. that performance you can see in the bank index. at one point we saw significant decliners there. a couple percent for certain banks leading the index down, the market down, but they did recover by the end of the day. yield curve had a huge impact on this. we did see a low on the ten-year note at one point yesterday of 2.34%. back close to 2.38%, back near that 2.4 level. that, of course, has had such an impact on what the banks have been doing. those two factors, the yield curve, bank stocks very much linked. the ban

prime minister narendra modi has secured his place as india's most influential leader in more than three decades after his party won a majority in hr pradesh.-- uttar tos victory allows the bjp push forward its reform agenda. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. tracy: back to our top story. president donald trump has fired bhararan attorney after he refused to leave. of how expected this was. we do have a jeff sessions asking 46 attorneys to resign. did people respect -- expect him to be one of them. >> they did not expect him to be one of the attorneys that had to resign. it was not expected that they would ask this many to resign at once and tendered their resignations and leave the office by midnight. what was surprising with bharara who it said in november that he had met with donald trump as well as a jeff sessions and they told him that were going to keep him on. tracy: he developed a reputation for being tough on wall street. since donald won the election, we have seen ranking stocks up and ta

seema mody has the news. >> gap appointing a new mobile head of banana republic.ll report to art peck, the president and ceo of gap and will serve on the company's senior leadership team. he will join the company in may. back to you. >> all right. thank you, sema. i thought that said breitbart. that's an interesting pick to run banana. gap shares unchanged in the after hours. >>> thousands of flights being canceled because of the blizzard hitting the east coast. coming up former spirit airlines ceo tells us what kind of impact the shutdown could have. >>> a federal law enforcement official warning foreign governments may be trying to get ahold of american's genetic data to create tailored biological attacks. we'll have the details when we come back. this car is traveling over 200 miles per hour. to win, every millisecond matters. both on the track and thousands of miles away. with the help of at&t, red bull racing can share critical information about every inch of the car from virtually anywhere. brakes are getting warm. confirmed, daniel you need to cool your bra

seema mody has the details. >> tesla announcing a secondary offering of $250 million of common stock buy 25 million. in addition to that, $750 million of convertible senior notes. the proceeds according to the press release will be used to strengthen its balance sheet and reduce the risks related to the rapid scaling up of the model 3 launch. we're looking at shares of tesla higher by around 2% on the news, kelly. >> thank you, seema. ordinarily if you are a public company who issues more the price should go down. equity is one of the more expensive. we're not talking about any company. we're talking about tesla who has for some time has been speculated they needed to raise money. they're doing it now on a relatively small basis. >> it's always a matter of when they'll choose to raise more capital. less than a quarter of it common equity. the convertibles is more of a play on appetite for credit instruments. it does show you the pattern has been, once tesla gets out there marketing a deal with their bankers they tend to have a pretty good uptake and you see the stock rally. >> shares

cnbc's seema mody digging in. live in germany with reaction from the ground there.hings off with cnbc's kayla

today the modis say they're still jet lagged from their vacation in new zealand, but will try to enjoy a few extra days in san francisthe bay area. >> we'll go down to san francisco and come back in the morning. >> reporter: the worst of the storm is expected tomorrow morning, so tomorrow already about 50 flights are canceled here at sfo. reporting live, i'm michelle roberts, nbc bay area news. >> so it's so bad back in the northeast, yet we're having some spectacular weather here. >> i know, it always happens that way. it's like a flip on the weather map. we get all of that wet weather over towards the eastern seaboard, and for us, the dry, sunny weather back here throughout the west. let's go ahead and get a look at the microclimate forecast. we want to start off with the developing nor'easter right now. and you can see all of the activity remains across the eastern seaboard. what i want to do is zoom in and get a closer look from wnbc. it's our sister station in new york. they have storm tracker four. it's their very own doppler radar. and right now we're finding dry conditions in b

seema mody had details for us. >> hi, sara.saying samsung is planning a major investment in the u.s. home appliance production space with a total investment of roughly $300 million, at least five states have had discussions with samsung and their interest in bringing some of this production back to the u.s. is influenced by trump's election. again, that's according to this report. this report also says that some production moving from mexico back to the u.s. and this move could generate around 500 jobs. keep in mind this also follows a tweet from president trump back in late february where he did say -- or he did thank samsung. looking at shares at this point unchanged. >> it is the trendy thing to do. seema, thank you. speaking of investment stocks are down now for a third day in a row, s&p's pretty flat. dow's down about 19 points ahead of this friday's big jobs report. appaloosa's david tepper joined "squawk box" earlier. here's what he had to say about the markets. >> we're more long u.s. stocks. but the bigger bet is -- li