abigail doolittle has the latest. abigail: u.s. traders are selling stock. the dow, s&p 500, and the nasdaq, and the nasdaq 100 down in a big way. coming underperformance from the tech heavy nasdaq and nasdaq 100. interesting is the fact that the dow earlier had been slightly higher. we are already seeing some the intraday volatility that has characterized so much of the trading action more recently. and therter, the dow s&p 500 putting their first quarterly decline since 2015. investors and traders are on edge with lots of uncertainty. jonathan krinsky at and a.m. says the technical conditions are oversold but it doesn't mean there's likely to be a pop for the technicals in the european market or so week, it suggests more sideways chop and possibly bearish action as we are seeing today. let's see what's playing on the nasdaq and nasdaq 100. it is not actually tech, it's the second worst sector, but it is consumer discretionary. -- andamazon, network netflix are discretionary. tesla down more than 30% since its last high at the end of february and continued

markets are falling today, here is abigail doolittle with more. >> we do have declined for the major averages on this friday. dow, s&p 500, nasdaq off roughly lower with the s&p 500 and the dow down 1% or more. the nasdaq is outperforming a little bit but still with a decline. lots of fears around the possibility of a trade war as rhetoric steps up between president trump and china. a disappointing jobs report, not helping the picture. on the week, looking at weekly declines for the s&p 500 and the nasdaq, the dow is on pace for a small weekly gain. a few more hours of trading. p, s&p 500,the ima

abigail doolittle joins us.e was lots of pressure on whether they would be a look to put up a solid model three reduction number. they produce 2020 model 3's, a little less than expected but less bad than feared. they put up more than 8000 cars for the quarter. overall, production numbers for all of the model 3's and others are very strong. if we hopped into the bloomberg and look at g #btv 243 one, this was best quarter ever. they produce 30,000 vehicles. , andis really strong looking forward, elon musk promising accelerated growth for the model 3, promising that within three months they may produce 5000 vehicles per week, even though they haven't quite hit the 2500 per week production number. nonetheless, it is about vision and growth. theie: great story on bloomberg on him sleeping at the factory. maybe that was behind some tweets. create energyn there. they talked about how they managed to get through. stock'saround the sentiment. you hear about the ceo sleeping there to get it done, but the stocks moved in

abigail doolittle joins us with details.il: they beat earnings by 45% to put up $.65 per share in adjusted earnings. billion in $1.67 revenue, beating by 33%. thatd this big growth, grew by 22% to nearly $450 billion. behind that, both financial appreciation and fundraising, some of the volatility in the markets, the ceo indicated that is helping them attract more ofs as they want this stability from these investments. bloomberged into the and use the dashboard, we will see how positive the market reaction is. shares up in a big way, 3%. the volume is much stronger than average, up 200% above the two day moving average. the possible warning is valuation at a 19% premium. when you compare that to the s&p 500, still really attractive. vonnie: what about future private equity opportunities? abigail: a great question. i moderated a panel on private equity last year and the question was where did they put the dry powder and the focus over the next couple of years will certainly be the prudent deployment of that capital in the u.s

abigail doolittle has details live.ing up with why the stock is down so much, a kit -- a terrible first quarter. let's hop into the bloomberg to see what the revenue growth looks like. you can see this chart, revenue growth for the first quarter off in a big way, down more than 15%. milliont a hundred $12 relative to last year's $68 million profit. toys "r" us bankruptcy having a lot to do with it. we have weakness out of europe, but with the stock trading higher, one piece of that could be the fact that the company reiterated their profit operating margin for 2018 despite the fact that segment after segment for the first quarter was lower. bloomberg intelligence analyst merriam is saying it looks like a near-term left. vonnie: how to they work their way out of this and work passed the toys "r" us bankruptcy? the ceo said they are going to be able to fill that distribution hole with walmart and target. both of those companies may pick up more, also pharmacies in dollar stores. when we separate the fundamentals from the

abigail doolittle has the latest.

for more, abigail doolittle joins us from new york.t is always an extraordinary day when we go to you. what is through the session. they stands out that each stepped out for tremendous trade action, and today is no exception. today it is down modestly and the dow traded higher briefly, and then by midmorning strong selling pressure that built into the close. you can see big declines for the major averages, pretty each major average in that official correction territory. for each of those respective indexes -- continued uncertainty for investors. the possible trade war is a piece of that, and the bigger piece right now is that tech unwind. investors fearing regulation is ahead for some of the big tech and internet companies. this was the best sector last year up or than 35% last year and valuations are skyhigh. they're coming back down to earth but investors not looking that overhang. on the date the trigger appeared to be amazon with president trump going after amazon over the weekend and those shares are down or than 5%. and ceo mark

abigail doolittle joins us with more.ally nervous about the upcoming first-quarter they are going to report on may 1. nervous around that. out aboutlysts coming that with cautious comments. they guide just one quarter in advance. we have global action mixedading shares from deposit. asia, various wireless carriers, even one electronic thatler in asia suggestion the actual quarter that march could come in weak. we are looking at possible weakness for the march and june quarter. we can see why china is such a big deal. this is the sa function. in orange, you can see the overall revenue from the americas. in green you see china. that has been steadily declining. that is a concern that the chinese are not adopting the iphone x or upgrading to the 8 and 8 plus. that could be a negative for the company. vonnie: we see winning icon demand coming up periodically. abigail: you are right about that. we have been seeing this on and off for a few months. i think it is the proximity to the upcoming earnings report. semiconductor,an wh

richard abigail doolittle. igail: we do have investigators waffling, only the dow higher of the s&p 500 and the nasdaq are lower as you can see. the tech heavy nasdaq really underperforming, down .5% and earlier today, the nasdaq had been up about .7%. some intraday volatility that was foretold possibly by the dow transfers turning down earlier. if we take a look chart of the s&p 500, we are going to see the fact that the s&p 500 is near session lows but last tuesday we had a big drop on capital or comments that some investors took for the first quarter being as good as it gets and then up last thursday and friday about flat, we have been higher for the s&p 500, but now down your session lows as investors are again a little uncertain. lots of factors to contend with, including big earnings reports, apple tomorrow after the bell. on the day, let's take a look at some of the booze and the drags as far as the boost, take a look upthe oil refining company on the news that marathon petroleum is buying them for $23.3

abigail doolittle joining with more details on the story. ail: they put up a much better quarter than expected on an adjusted. basis. they put up a surprise profit, and investors are looking past that because they beat growth margins by 20 points. if we hop on to the bloomberg, this is a terrific way to see what is going on. oaring,the stock s and it is or than the thousand points about the average. most analysts are saying these results are shown the company is moving in the right direction. evaluation is not so hot, but there is to point out here, today with the huge second volume suggest this is a short squeeze. of those short getting out of the stock and perhaps a turnaround is on the way, but we need to see a few more quarters of the company moving in this direction. i want to point out that the company handled 40% of the mobile service networking globally. that is amazing. eetnie: worked as the stret weigh in? encouraged,y are but they have to see more signs of that stability. vonnie: still ahead, electric shock, g getting a boost from

of it down for us we have bloomberg intelligence's director of north sweeney,research, paul abigail doolittlei want to start with you. of where walk through we ended up today after a rocky few weeks emily: --few weeks. abigail: it was an just in day. only finishing fractionally higher midmorning. each of the major averages dipping into negative territory. despite the fact we had the rebound rally led by facebook and some other tech winners, today is obviously amazon with a upe point boost, finishing 3.6%, it was not enough. the other stocks finishing lower, and behind this, emily, i believe, is apple. if you look at the intraday chart, apple started flat, and that session lows, finishing down about 1%. apple reports next tuesday. we have had strong reports out of these big internet names. the crown report at this point, and pretty much every earning season is apple. lots of chatter the iphone demand is weaker than expected. especially the iphone x. investors are nervous what we will see around the march quarter. could there be a miss driven by weakness in china? the june guide, will it come i

abigail doolittle is here with details. >> a relief rally for stocks. we are the major average in the dow, s&p 500 and nasdaq solidly higher. this as investors are relieved that perhaps there will not be an all out trade war. paper, the third day higher. best three-day winning streak since the middle of february. buyers are starting to take control. if we hop into the bloomberg bell and take a look at the real story. beneath these gains it is all about intraday volatility. tuesday started off on a bearish note and we had a bullish reversal. 9668.s last year we see this s&p 500 spread between the high and low. the intraday smooth relatively small. this year we see these massive moves higher and lower on the below thehe high spread with the s&p 500 closer to 39 point. lots of activity and volatility on the part of investors. typically volatility breeds more volatility. we are likely to see a change until it results in these uncertainties on a possible trade war, what is ahead for many other issues. let's go to the big map names. 3%. the bigger movers up a

let's get to abigail doolittle for more detail. t of a selloff on her hands. intraday volatility yesterday. today, it is turning into a bit more of risk off your noticeable pullback, three major averages, each on pace for the worst is a perfect. behind me seems to be jitters around the current earnings season as many companies are beating. there is a but for many companies causing the shares to slide. also from a macro perspective, the 10 year yield higher, earnings today sending some investors and traders wondering what a bigger move up in yield could mean. what it be a big price of an could that turn into a deeper correction for the dow? relative to the dow, now leaned back and corrections territory, this is a five-day chart of the dow. the dow has been down each of the last five days, steadily lower and dropping by 3.4%. first i didn't slide -- five-day slide for the dow. despite the big selloff we have seen on daily basis earlier this year, it was not back-to-back. it is something to pay attention to. dow weakness has to do with

markets are falling today, here is abigail doolittle with more. >> we do have declined for the majorverages on this friday. dow, s&p 500, nasdaq off roughly lower with the s&p 500 and the dow down 1% or more. the nasdaq is outperforming a little bit but still with a decline. lots of fears around the possibility of a trade war as rhetoric steps up between president trump and china. a disappointing jobs report, not helping the picture. on the week, looking at weekly declines for the s&p 500 and the nasdaq, the dow is on pace for a small weekly gain. a few more hours of trading. p, s&p 500,the ima all 11 sectors are lower and industrials, not surprisingly, some of the days -- industrial names, biggest, boeing, down, caterpillar, down. financials are lower as rates are falling. health care, utilities benefiting from the fact that rates are falling. the dividends look more attractive when yields are falling. the kleins for all of the sector -- decline for all of the sector. they were stocks in the s&p 500, apple and berkshire hathaway, the two worth -- worst stock from a point drag, nothi

julia: abigail doolittle, thank you for that. let's get a first word news update with mark crumpton. mark: the u.s. supreme court is about to take its first look at a trump administration policy. courtnesday, the high will hear arguments about president trump's ban on travel from some countries with majority muslim populations. in december, justices hinted they would uphold a travel band when they issued an order letting it take full effect during the legal fight. secretary-general antonio guterres says a retreat in sweden with members of the deeply divided security council has "cool down tensions over syria." all 15 members. for a political solution. and are committed to overcoming obstacles blocking the delivery of you -- of humanitarian aid. colombian president and nobel laureate long one-mile santos said he has grave concerns about venezuela. his latin american neighbor continues to struggle with the collapsing economy and a political crisis. president santos spoke today to bloomberg television. >> venezuela is on the bridge

abigail doolittle joins us now. >> a big move there by brian over at morgan stanley.ted twitter yesterday and those shares, a really great day today on this upgrade. he is bullish on the fact that they will be migrating to handling their own payments ander than using say paypal other vendors. he feels this could really add to it. that is the positive call. in a way, it is a call on earnings. joe: whatever we talk about fake tech companies, we affect their not part of it. >> that is a great point because i think we should. a couple of years ago, we were negative on ebay, sort of the slow old one relative to amazon, but this stock has more than doubled since 2014, slowly but surely climbing. they do report next week and they're looking for big growth, 10% on the bottom line, 17% on the top line. a lot of good things are going on. plus, valuation. you were going to pull up a function for us and i appreciate that. gd function, the graphic dashboard and i love it. it outlines exactly what is happening with the stock here. we see that valuation, 53% discount for peers, and

abigail doolittle joins us to talk about what is going on in terms of price action. l: there are some factors behind this, it is intuitive to have these selling off on a potential trade war, but first we have the perception hitting the stock movement relative to the company this could potentially hit their bottom line and revenue. take a look the financial analysis to see what caterpillar actually sells, machinery community and transportation business, with 95% of it as construction and industry, so that could be a solid hit for them in terms of the big machinery, if there is a trade war it could hurt the demand and also hurt the input costs. so it could be a double whammy for them. right now, going back to that perception, it is an overhang of uncertainty. we do not know what is ahead. this is a trait of words more than actual tariffs, but the possibility in the overhang that something could hit the bottom line and the, that is hurting shares. julie: industrials, because of the selloff, not just with caterpillar but some of its peers, we see that definitely playing o

abigail doolittle is back with us, let's give it another shot. the stock selloff today, focusing on what may be ahead for stocks. and at this time, the three major averages, plus the small cap all down sharply. down 2% or more, the worst day since february 8. and a lot of reasons to consider this as part of the bearish volatility we've seen this year. on the year, the major averages are lower, s&p 500 down on the year and its worst decline since 2008. because of the bull market we have been in and of the concerns on the d.c. drama, the regular should of big tech and a potential trade war with china, china imposing tariffs on pork effective today. the list is a, the stocks are not climbing a wall of worry. this could suggest that investors think that the corporate profit outlook could change despite the recent tax cuts. we have been looking at technicals all year. let's get into the bloomberg and it take a look at the technicals. this is a six-month chart of the s&p 500, the last part of the beetle uptrend last year, above the moving averages. and

let's get to abigail doolittle. igail: the isn nonmanufacturing composite for the month of march is coming in at a slight miss. the survey had called for a reading of 59. this is relative to february. andht decline from february also a slight miss. similar to what we saw for the manufacturing isn earlier this week. anything above 50 does signal economic growth. not a lot of growth here on this wednesday. the dow, the s&p 500 and the nasdaq all lower. has to do with -- this has to do with peers around a potential trade war between the u.s. and as china has new tariffs on soybeans and automobiles. aircraft among those tariffs. investors not liking that uncertainty. where we are releasing some pain , the commodity complex. commodities down sharply on the day. tariffs against u.s. soybeans on pace for the worst day since 2015. industrials also getting hit. pretty steep declines here. on thisn on the year threat that seems to be steepening. on pace for its worst day since 2015. bulls are having a really hard time recently

abigail doolittle is here. what has been going on? >> declines after three days of gains. lots of volatility on the week. do with the possibility of a trade war. trump did ask his staff to consider a tariff against china. china said they will go to any lengths to fight this trade war. investors are jittery on this. let's take a look at a five day chart. there going to see despite massive swings of stocks we do have s&p 500 of 4/10 of 1% on pace for a second week in a row, higher on monday, down on amazon. some mixed action. we have been down on the possibility of a trade war. a possibility it is not going to happen. on the week we are slightly higher. let's take a look at those industrial names impacted. down 1% on the day and year as well sharply lower. these companies could be affected from decreased demand and the possibility of rising input prices. relative to what could have sparked president trump wanting his staff to consider, if we hop into the bloomberg and take a look at a chart you can see this in the bloomberg. foree the trade gap february missed estimates. is

here is abigail doolittle. abigail: we have a rally on this thursday.ake a look at the dow, s&p 500 and nasdaq, all higher. nasdaq up 1.3%, the best day for the major averages in more than a week. we have had selling pressure, but today the bulls are out. the outperformance in the tech heavy nasdaq. we have two sources. the semi conductor index, up more than 1%. take a look at some of the movers behind the strength of the chip sector. -- they beat earnings in a big way, by 21%, sales by 5.2%. investors encouraged by the fact that the company says this is coming from a crypto reliance. onron is up 8.4%, gaining positive memory comments from samsung. the memory cycle. and nvidia is up, in sympathy with a.n.d. the bigger boost, we are taking andok at facebook, amazon, of course, facebook is up. the best day for them since january 2016. this after they beat across the board. tremendous growth on the top line, revenues growing by 49% in the first quarter. strength from mobile advertising. so investors are relieved after the recent downtrend around the cambri

abigail doolittle. >> you are right. we have stocks trading higher well off the highs already.

dayes are volatile on the .n a report abigail doolittle has the details. we are positive again. ght about that. again, around by the news today, there was a report by buzzfeed saying they temporarily recalled production and last week, it was higher after elon musk put up 2000 cars per week and that would actually triple by the end of the quarter and we had sales numbers up and down today and before we came on., people hate to put tesla down. let's take a look and we see a produce aboutthey 25,000 cars overall. about 1500 of those or model three. for q1, that was a record number for them, 35,000 cars and a lot -- 8200 cars, so they are pacing and out. a longer-term investor and you really need to figure out whether or not they will sustainably be able to produce these electric vehicles in a sustainable way for the markets. >> something else investors obviously like -- pay close attention to -- >> that is a big piece of the story. i read a report that they burn cash more than $6,000 per cash per minute. that is extraordinary if the figure is correct. thinks they will have to raise

abigail doolittle joining us for more. abigail: it is exactly what the bulls were hoping for.enues by 4.4%, strength coming from key sectors of aviation and health care. power was a bit of a problem, but their ceo said these he reaches there, so a lot of positive news out of to these results. and relative to guidance come maintains, ande fro another way to look at the positives on this, hop on to the bloomberg and see this chart using the gtv function. the default protection -- investors weighing out the worst-case scenario. it is another way of looking that investors are bullish on these results. kevin: i love that chart, because it leads me to the next question. whether the results specifically? results, perhaps an upgrade, and will have more response them, but if we don't want to the bloomberg can see where the street is right now. this is using the ge function, and it gives us a sense of what is happening here. we see the stock is up and volume is better than expected. we see 12 holds there, and they are on hold in the neutral position. jp morgan, not long after the earnin

abigail doolittle has more for us. igail: it turned out to be a bearish day for the major averages. all shedding quite a bit today. down whiteavy nasdaq and more. underperforming down 1.3% and that points to the big drag, tech. funny enough, that was the worst sector from a percentage standpoint, but technology is a 20% weight and 50% weighting to the nasdaq. with tech down, that has really caused the major averages to slide. still higher on the wii, but really paring those gains in a big way. behind this, it appears jittery ahead of next week's slew of earnings for some of the big tech companies including microsoft, paypal, intel, facebook, pretty big declines there. investors nervous about what all of this could bring your dive was mentioning the weekly moves for the major averages, if we hop in, we can take a look at how this appears on a weekly basis. this can be used in the gtb library. we are looking at the weekly moods for the averages. the dow in blue and the s&p 500 in green. this is the second of we can erode

abigail doolittle joins us with details. abigail: they are positive on the stock.d is strong, plus limited supply. relative to that, that has something to do with the tariffs imposed on exported steel and aluminum. we can see the health of the u.s. steel over the longer term. since the election in white, u.s. steel is sharply higher on expectations shares would be put in, and that the focus was on shale, kind of trading down. and then shares are now outperforming 73%. piece of the positive news, with longbow research a top pick. steel is into the earnings season. david: thanks so much. when the administration announced plans to impose tariffs on $50 billion worth of chinese imports, china was swept to say they would respond with nebraska'ssoybeans, most popular cultural export. we welcome now the governor of nebraska, who comes to us from washington dc. we just saw you at the white house. you got a shout out from the president. i want to play it now. >> hello, pete. -- nebraska,ks folks. he never liked me untold we met. -- until we met. [laughter] liked me.speech a

♪ david: breaking news as markets tumble on the first day of the second quarter and here is abigail doolittleo take us through it. abigail: stocks are tumbling and a selloff note best the dow, s&p 500, and nasdaq down and up just andtly for mixed action, now we see these huge declines. this is a familiar theme for the year or we had intraday volatility that has led to downside. is amazon as today shares are down 5%, the worst day on the year on concerns company could be regulated. of ais a continuation thing around facebook, and that is one of the big pieces of uncertainty investors arguing. it is having an effect on a sector composition standpoint. let's hop on to the bloomberg for grr on the s&p 500 for the year. not long ago, 10 of the 11 s&p sectors are lower and earlier today discretionary had been up of 3/10 of 1% and it is now lower. take a look at tech -- the fade and starting to it is very bearish they have all the sectors lower and may suggest the selling action could continue as there is really no sector to rotate into that is outperforming on a positive basis considering we had so

hello and welcome, i'm abigail doolittle. this is your weekly review of the most important business news, analysis, and interviews. let's start with a day by day the top headlines. western allies uniting to punish russia for the nerve agent attack on the spike in the u.k.. u.s. coming down on russia in response to that -- the european council president said that 14 eu countries will expel russian diplomats. house has taken action to retaliate to the poisoning of a former russian spy in great britain, ordering russian diplomats to leave the u.s.. -- been looking forward to seeing positive corporation. instead, they got these expulsions. i think the kremlin is going to respond in kind. at the same time, i think it has lost more hope that they can find a way to work with donald trump after so much hope was expressed after his election. there is no shortage of superlatives for the game today. s&p 500 making its biggest one-day gain of august since 2015. -- biggest weekly selloff in two years. >> the trade issues, broadening of tr

abigail doolittle tells us why.iam joint tom keene on bloomberg radio and said that if you do not own this stock, you want to become a shareholder 40 couple of reasons, the dividend yield, 3.6%, they will get paid to wait until they put up a turnaround and the biggest piece of this is free cash flow. he says it could be a lot more of what the street is looking for. we can see free cash flow story on ge, the financial analyst function, back in 2015, more than $10 billion in free cash flow, a drop in 2016 and last year about $3 billion. investors for 2018 are looking for $6 billion in free cash flow and he says that back are coming closer to 10 or $11 billion. if that is the case, it could mean that ge is a $21 stock. decisively above where we are currently and an interesting call. genie: -- mark: what does need to do to turn this ship around? >> that is a big question from a macro standpoint. they need to lift the curtain, he says, his exact language was that this company has been stripped down, they have new managem

abigail doolittle has been tracking the moves. this point they are small. not a lot happening.00 higher. nasdaq lower. we have seen the major averages weaved between gains and losses. investors are on hold ahead

here is abigail doolittle. >> we have had some intraday volatility and we do

abigail doolittle is with us with the latest. igail: we are looking at a pullback or selloff of the major averages. the dow, s&p 500, and nasdaq all noticeably lower and down more than half a percent. the tech heavy nasdaq down the most, and the s&p 500 and nasdaq on pace for the worst day in nearly two weeks, stepping a three day winning streak. not surprising with the nasdaq off the most, tech is behind the weakness. the big drag is apple. we're going to cad since the 2.5% -- we are going to see a decent decline. and the company's midpoint for the third quarter cut disappoint -- could disappoint. take a look at the stock down 3.4%, and this semi conductor driving the entire sector. if we hopped into the bloomberg and look at the chart in the s&p 500 easing the gtv function, we see that the s&p 500 is below the 100 day moving average, flirting with the 50 day moving average in pink. we have a way of saying that the s&p 500 may in fact dropback down towards the bottom of the range, you're the 200 day moving average. volatility ahe

here is abigail doolittle. >> we have had some intraday volatility and we do have the major averages lower with the dow down more than half a percent and the s&p 500 down about one third of 1%. the nasdaq down. a big change from earlier when the nasdaq and the dow had been down about 2% on the lows with fears of a potential trade war with china. cooler heads prevailed and you can see that the russell 2000, which had been sharply lower, now up fractionally. some investors talking about the russell 2000 is the index investors want to go toward in the case of a trade war because most of the revenue of the smaller cap companies can to come from the u.s. a sense of risk off but smaller declines relative to what we saw before. map, at this point, for sectors trading higher -- four sectors trading higher. just seven sectors lower now. industrial on bottom with companies, investors selling on the possibility of a trade war with energy and materials up top. even though the declines are relatively small, investors are going to be more defensively natured sectors. tech had been the worst sector

abigail doolittle. >> you are right. we have stocks trading higher well off the highs already. the dow is up .5%. the nasdaq up to tense of 1%. more averages up 1% or after earlier in the session being down slightly. following the session we have seen all year, recently continuing on the session, and one source of volatility is the stock. the philadelphia semiconductor index has been up more than 2%. let's dig into the stock volatility by going into g #btv 7755. this is a year to date chart of the stock. we are usually looking at 1% moves and the major averages. these are 2%. a lot of moves to the downside of 2% or more. volatilityt of considered to be a leading sector going to everything we use. if we look at the movers within the chip space today, we will see a rebound from yesterday, but one that is fading. intel had been higher earlier in the trading session now up .1%. this after yesterday, dropping about 9% at one point at the lows for the worst since 2008 on apple news that apple could be using its own in-house chips by 2020. today we have a rebound. chip space overall g

i am abigail doolittle.days since president trump announced tariffs against china, business leaders have been waiting the consequences of a potential trade war with china. it was a topic throughout the week on bloomberg television. let us start with sergio ermotti. he spoke with us at the china development forum in beijing. >> i think they start to get concerned. i think for the time being, the numbers are modest in respect of the impacts. we see the proliferation of these tensions on a bilateral basis. one will be good for growth 14 geopolitical reasons. so, while at this point in time, we do not see financial markets of being overly impacted by this protectionism waves, although i think if it keeps going on, it it could be very disturbing. >> the market selloff on friday was pretty severe. why wasn't it priced in? this has been flagged by the trump administration? >> at the end of the day, you look at this and how it is difficult to understand the corrections that are coming as a consequence of those annou

abigail doolittle is here with the latest. are looking at major averages and we see a selloff on this friday. we see major averages are sharply lower, down 1% or more. at 1.4%,ad been down and a lot of those sectors also lower on those renewed fears around a potential trade war in the near term as rhetoric between president trump and china steps up. investors are uncertain, and this is the first down day in four. the fear is renewed on friday, and it puts the s&p 500 and nasdaq on pace for the worst losses for the week. -- anda get volatility you can see around the time of the open and the disappointing jobs report, the s&p 500 opened lower. i am going to toss it back to you, vonnie. vonnie: we have the latest read on the labor markets today. --is cooler than forecasted and a lot of economists are dismissing it because of the weather. we did see a 2.7% gain for the month, year over year. it does not like this is going to get extra impetus for anyone looking for fewer rate hikes. shery: the also have to keep in mind february num

we have analyst rating, abigail doolittle with details. >> positive comments basically saying, anotherarter. million. around $244 we can put this into context and see, for this fourth quarter at $244 million, a rise up from last first quarter. lots of growth. he is aggressive in standing by this stock. it almost sounds as if he is done and to work or talked with someone. -- extra work or talked with someone. back into the bloomberg we see, stock is up 7% on the week. here in blue, the ceo based on mark zuckerberg's testimony, yellow is facebook, white is snap. we did get a lift from that testimony. another driver for snap could be the idea that advertisers could move away from facebook and alphabet. this is a much smaller revenue company so it could move the needle. reasons to be positive on snap, still below that ipo price of last year. vonnie: thank you. i want to point you toward live go on the bloomberg. mike pompeo's confirmation still underway, the senate foreign relations panel meeting. this is bloomberg. ♪ >> we need to do that well. ♪ ♪ york, 11a.m. in new p.m. in hong kong, 3

conference in beverly hills but first, a quick check on where equity markets are trading with abigail doolittleeversal of gains earlier. the doubt, the s&p 500 and the nasdaq all solidly below near session lows. a bit of a risk off tone. the nasdaq 100 at the highs up at the lows. and see it is true in the s&p 500 and going in the bloomberg and looking earlier today. 11 sectors hire now. higher with sympathy. telecom lower and a lot of weakness is here. tech had been the top sector earlier. let's look at big movers. now up about 1.5%. microsoft, the big tech names being sold off. >> thank you. breaking news on the burgeoning borrowing needs. >> with the spending bill and tax cuts, we will have to build in the reek it -- in the quarter coming up, 75 billion dollars per they had seen 176 billion in part because they borrowed so much in the first quarter. january to march, that is a record. up in theit billionarter a $273 july to september. it is in the face of deficits that are supposed to be at $1 trillion in 2019 and beyond. you will see this continue to rise. question is will in what do they p

abigail doolittle is with us. it looks like we are fluctuating. abigail: you are right. different picture from what we have had. we have had a mixed trading picture. only the dow higher. both the s&p 500 and the nasdaq lower coming near session lows. take a look at the philadelphia semiconductor index. down almost 1%. really a reversal considering the major averages earlier had .5%.up more than the dow and s&p 500 -- excuse me, the nasdaq, up 7/10 of 1%. if we happen to be bloomberg, take a look at the imap, nine of the 11 sectors have been higher. now three higher. not so much between fractionally and energy up top of that 3/10 of 1%. sectord been the top earlier. up a tenths of 1%. now down 3/10 of 1%. a big turn. telecom on the bottom being dragged down by t-mobile and sprint. let's take a look at what is happening for the technology sector. we have been seeing interesting volatility. apple is higher. this is a big point boost on the day. it reverses these chip companies pay we saw that weakness for the stock. apple up 1.8% ahead of its report tomorrow. there has been

let's get a check with stocks with abigail doolittle.n our: we have a rally hands, the three major averages are up sharply. instead of this rally being at the end of the day, as has been the case on tuesday and wednesday, we have been higher all day and lots of relief of the possibility that a all out trade war is not in the horizon. buying on the weakness we saw earlier -- two bullish reversals in a row. the dow gaining 900 points, and on pace for its best three days following the big brexit selloff in june of 2016. and the s&p 500 on pace for its best three days since a presidential election in november 2016. down,t huge swings up and and it is a risk on picture. the question is will it last? this is a chart of the trade gap. you can see this on the bloomberg by going to gtv . -$57.6 billion, and you will notice that during president trump's taking office, asked elderly -- it has steadily gone down in the wrong direction. whether or not the rhetoric of a trade war stays in place, i don't know. icad inside president trump to take ac

here is abigail doolittle. theail: at this point amid political headlines among a slew of earnings reports, we have solid declines for the major averages on tuesday. the dow is down .7% outpaced slightly by the nasdaq but what stands out is the major averages. with had a little volatility today and right now, the dow is on paper for its first five day slide, a bit of a bear streak here amid the earnings season. let's take a look at what is tracking on the nasdaq causing the underperformance. effort that trading down by 4% after they reported the first quarter. they beat the earnings and sales estimate sales by 2.4% and adjusted earnings before 5%. is very strong, suggesting it remains strong. the acquisition costs are coming in high. you see the entire group is down at this point ahead of both facebook and amazon reporting later this week. the company is sharply lower on the day. they missed top and bottom line estimates. in addition, the ceo did say that change is that target the use of river systems curtailin

. ♪ ♪ bid'm abigail doolittle time for charting futures where we dive into the charts in we're taking gold, silver and of the dollar. despite bearish calls from analysts on the u.s. dollar, the near-term technicals could support the possibility of a pop that could surprise some on the street. take a look at the chart of the dollar, very simple chart of the bloomberg dollar index. a sharp decline in january, some of it on the white house rhetoric, but now we are in the sideways area and the range could resolve to the upside. so far, weakness has not caused a big move in gold or silver. we see gold up a little bit, silver is down slightly on the year. this probably will not remain the case when the dollar does in fact break out of that range, it is likely to happen soon. so take a look at a chart we looked at earlier this year on silver, you can see the chart by going into the bloomberg. and it is a longer-term chart of silver, we have a decline downward, but we see that silver is holding the bottom of that channel, perhaps trying to go back to the 200 day moving average. this suggests

one reason the index is higher, abigail doolittle joining us for the details.he great results? >> they put up a very strong quarter and a large network. the eastern part of the united states stands for 22 states and they put up a great quarter. this has been an earnings season of companies putting up a strong quarter. there is a nuance. here, there aren't any nuances. they beat earnings and sales estimates. earnings grew by 30% on a year-over-year basis. that is significant, and they also put up and operating ratio, basically relative to the 69.3%,age of revenue of down 1300 basis points, moving in the right direction and they a strategic plan to have that operating ratio to drop down by 2020, so they are moving in the right direction despite that we are hearing all of these .alks about rising costs a lot of strength here. >> that is my question. why are they doing so well? it probably does so -- tell us something about the economy in a more positive way. they have three main segments, merchandise, basically in between different types of transportation, and the

vonnie: abigail doolittle, thank you. mark: check it out what is happening ahead of the close. we are less than 35 minutes away from the end of the wednesday session. it is quickly jumping as the level of sterling declines. the close is next. this is bloomberg. ♪ . mark: 11:00 a.m. in new york and 4:00 p.m. in london. 30 minutes left in the trading day in europe. from our european headquarters, i am mark barton. vonnie: from new york, i am vonnie quinn and this is the european close on bloomberg markets. ♪ mark: here are the stories we are covering from the bloomberg and around the world, geopolitics softening today as president trump reveals the cia director mark -- mike pompeo travel to north korea to meet kim jong-un. russian president vladimir putin is seeking to dial down tensions with the west, ordering officials to curb their anti-u.s. rhetoric. u.k. prime minister theresa may faces a new brexit challenge. ready to defeat her flagship brexit bill. have a look at european equities, rising by the smallest of amounts with the highest day since february 27.

vonnie: abigail doolittle, thank you for that. let's get straight back to the west coast and an open institute global conference. -- annualnteral watering hole for executives, the davos of the west. erik schatzker is there with a key voice and finance. erik: i'm here with my gary --ty -- michael a righetti michael arougheti. good morning. mr. arougheti: great to see you. you are enormous players in private credit industry. private credit is no longer a cottage industry like it once was. there's an awful lot of capital trying to originate loans. how competitive is it today? mr. arougheti: it's gotten more competitive over the years, but when you think about why private credit is going, you have big demand from credit coming from middle-market companies across the globe. you have global private equity business which is driving demand , and an increased institutional investor appetite for the asset class itself, given the fact that it is floating rate, senior secured, short duration and not correlated to other fixed income instrument

abigail doolittle joins us with why this is having trouble. >> the numbers were pretty ugly.y actually missed. this company actually missed earnings by double digits. they missed sales by 1%. looking forward for 2018, the author raised cash cost. they also took down the 29th production outlook. that mine.this is now i am questioning myself. it is indonesia. this could mean a collapse of some sort but a potential role change on tailing, they use of a river stream. let's take a look at it. this is a one-year chart in the bloomberg. look at this through the 50 day, all the 200 and moving average. tells you that investors are really surprised by this. people were really caught off guard. plus it is a huge strengthen -- strike in volume. >> the company gets its copper and gold. he gets more of is ready from copper. sometimes it tells us things about what will happen with the pricing. do you have any comments? we should mention that this is 30% of the revenue. most of it is copper. if there is something with this ruling in indonesia, if they're not using for the negotiating tactic,

joining us is abigail doolittle.one for three days in a row so investors are not taking coming to this. at the end of the day, investors and traders are worried about the incoming earnings report. mentioned morgan stanley, that is bearish, and morgan stanley is saying after the corridor, by the depth -- after the quarter, buy the dip. and china is a big deal, you look at an annual basis of china and green come and over the last couple of years china is coming down. europe and purple is beating china, and that is not what investors are looking for. the chinese adapting to the iphone x and the upgrade cycle as they hoped. joe: and this dovetails with the warning from wednesday night of a taiwan semi conductor that does business with the iphone, and that is when it started. abigail: their guidance from the second quarter coming in less than expected. thatgan analysis saying has to do with the iphone, and if we hop onto the work we have a chart showing why that matters. apple is a direct customer of taiwan's semiconducto