i'm david westin along with alix steel. yesterday we had a route. worst start of the second quarter since 1929. david: you're talking about equities. i was talking about michigan villanova. did something to on with equities yesterday? alix: you didn't watch it though. david: i did not stay up that late. alix: did you want to cry? it still looks like a beautiful day out. upid: the sun will come tomorrow. alix: in t e

i'm david westin. shery: i'm shery ahn.our, shares of iconic are falling after the cut the broncos for earnings, in part due to rising aluminum prices. taylor riggs is joining us with more. some of the tariffs are off 16.5% and operational inefficiencies they were talking about. when we look at the adjusted profits, you have anywhere from $1.17 to one dollar 27 cents, down from the earlier forecast was almost $1.50. they took quite a bit of a revision lower for this year on profits. on the tariffs, that's the story we know, one of their top suppliers, and that's interesting. gtd go, it -- was fun out two years ago when they had a market cap that was close together. with the tariffs and all the other news, they are slowly falling in the market cap is falling below that. there are a few things. with the tariffs news, aluminum prices are growing and they mentioned that. they also talked about on the earnings call operational inefficiencies. topline growing and bottom-line not growing as quickly, there is something going on

david: i am david westin with alix steel. alix: goldman getting a boost in premarket but still just up 1% despite blowing past estimates. david: you think the markets just anticipated it and already priced in? pretty much across the board was pretty good. alix: which is making the rally in equities all the more interesting. the dollar very confused. s&p futures around the high of the session. german investor sentiment coming in a little bit weaker but the dollar has been pretty much -- u.k. wage growth coming in not as strong as estimated. day,ed dollar on the selling still on the margins. crude getting caught between the

david: i'm david westin. the french charm offensive. macron is on his way washington, hoping to use a special relationship with president trump to carve out a place for europe within president trump's america first agenda. kevin cirilli joins us now from the white house with the latest. i hear is going to be a lot of pomp and circumstance but not signifying very much. are they going to get work done? they are hoping to forge a new for a forward on the issue of the iran deal of president trump and president macron have very different views on that iran deal. differences on energy policy. on the issue of syria last week, president macron telling french reporters he was able to get assurances from the administration that they would be committed to syria for the long haul, but this is a tale of two presidents who have had a rocky relationship at best, we remember the handshake from last year, but now the white house is looking to have a charm offensive all around the white house, french and u.s. flags are lining the streets and we should al

vonnie: our thanks to david westin. the stock of the hour, rbs cutting cost to his lowest levels in five years, a sign the lender is well-positioned to restore dividends once it puts his legal problems behind it, shares are falling. our banking reporter is with us. the u.s. misconduct charge probe. when will it be settled? is that the overhang on the stock today? >> it is, people hopeful they will see pro rbs after barclays settled a few months ago. we had no update from the executives today. we had costs falling and income going slightly up. on untilcannot move the government can sell down 70% stake in the lender and start paying dividends. it is in a holding pattern. there is only so much management can do until they resolve this mark:. it is in good shape -- resolve this. mark: it is in good check, this has to be one of the better quarters. >> probably the best shape we have seen them in. shares fell a little bit today but broadly positive. cuts innaled more job the branch network and more job cuts in investment bank

i'm david westin. shery: i'm shery ahn. faced washington, but as -- it is wall street's chance to drill these facebook's ceo. facebook is said to have replaced its head of policy in the united states as facebook scrambles to respond to intense scrutiny. joining us is then brodie, who is following the story from washington. she is also the chief privacy officer. tell us what is happening here? incomeat is aaron eight and she was the head of u.s. public policy at facebook. she is now focusing on her chief privacy officer duties. it will be more of a global role. facebook is facing not just here in the united states about enbridge analytica, but in europe and other places around the world. she will be taking on more of a global look. she is also going to be taking on the responsibilities for those notifications about people who may have had their data exposed to cambridge analytica and other things like that. she is moving over. it's possible she could come back to that role. they are putting it in interim head -- an interim h

i'm david westin. shery: and i'm shery ahn.ng u.s. stocks rising today, the dow up 1.1%, off the session high but gaining for 30 consecutive sessions. trade concerns are abating a bit. the s&p 500 is higher for the week, being led by gains in energy and materials. the nasdaq is also positive for the year. remember, tomorrow we get jobs report. we got some positive signals from the bp data yesterday. mark: the russian ambassador to the united kingdom said today the international community is under pressure from the u.k. and the u.s. to blame the kremlin for the nerve agent poisoning of a and his daughter on english soil. it is believed that countries that voted against russia's call were joint investigation written against voted transparency. >> we want to see the evidence. notant to have access, but only russia. we think it should be available for the whole world. that was the purpose of our decision. course, we are not happy with that. he says many countries doubts moscow was behind the attack, and that russia now plans to tak

is westin, and westin hadn't made a purchase yet, you guys." clerk who identifies herself as the store manager notices ward is recording video.natsot"private business and you need to stop recording me right now."a security guard then moved in and informed ward he would have to leave."i feel it may be my skin color. this is about to go on social media."in philadelphia today starbucks ceo kevin johnson was asked about this incident in torrance.natsot"there's a video coming out of l.a., do you have any comment on that video?" (grant) (grant) that was randy paige reporting... no word yet on if starbucks is investigating this recent indicent out of southern california...earlier today...we spoke with joelle emerson, founder and ceo of paradigm...she works with companies on diversity and inclusion. ((grant)) she went on to say it is not enough for individuals to raise awareness about racial bias.she says it is up to companies at the corporate level.... to ensure incidents like what happened at starbucks...don't happen again. (vicki) back here locally.

vonnie: that is the ceo of intercontinental exchange speaking with david westin and alix steel. day in the united states. the dow and s&p 500 are both up 1.1%. the nasdaq firing on all cylinders to take back some of friday's losses. currencies are very interesting today as well. here we were up earlier, we come back from the highs. investors digesting the ongoing -- goings-on between the u.s. and china. we have russia and syria. russian markets are the most wild today. the biggest decline in russian stocks in four years. credit risk is rising as well. a look at what's happening in the currency markets today. bloomberg. ♪ mark: it is 11:00 and new york and 4:00 p.m. in london. 30 minutes left in the trading day in europe today. from bloomberg's european headquarters, i mark barton. vonnie: in new york, i am vonnie quinn. this is the european close on "bloomberg markets." ♪ mark: here at the top stories we're covering from the bloomberg and around the world. deutsche bank is taking the reins of europe's investment bank after weeks of turmoil. can he steer the bank through its curr

this is westin, and westin hadn't made a purchase yet, you guys.">( james ) starbucks ceo kevin johnsonary incident. meantime ... the two men arrested at a philadelphia starbucks have agreed to a meeting with johnson for sometime this week. ( anny ) tracking your morning forecast. details coming up. (ácommercialá) you could save energy by living off the grid. completely. or... just set the washing machine to cold. do your thing. with energy upgrade california. as king midas, i expect and so should you.ntee. on struts, brakes, shocks. does he turn everything to gold? not everything. now get $100 back on a 2-axle brake service with your midas credit card. book an appointment online. my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the

welcome to westin.re you're given a choice not just to get up ♪ but to rise. ♪ i had a very minor fender bender tonight! in an unreasonably narrow fast food drive thru lane. but what a powerful life lesson. and don't worry i have everything handled. i already spoke to our allstate agent, and i know that we have accident forgiveness. which is so smart on your guy's part. like fact that they'll just... forgive you... four weeks without the car. okay, yup. good night. with accident forgiveness your rates won't go up just because of an accident. switching to allstate is worth it. we believe nutrition is full of possibilities to improve your pet's life. we are redefining what nutrition can do. because the possibility of a longer life and a better life is the greatest possibility of all. purina pro plan. nutrition that performs. but birds eye made it deliciousfrom zucchini.a. mmm... mashed potatoes...and rice! but made from cauliflower. looks like i need a fork! oh no. (giggles) birds eye veggie made. so vegg

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david: i am david westin. u.s., great britain, and france lost an attack on syrian site said to be involved in assad's chemical weapons. we welcome john garamendi of the senate armed services committee. in your capacity on this committee, what do you know about what happened and whether it was affected -- effective? rep: garamendi: nothing. we have not had a briefing about the attack. today,back to work although i am not aware of a hearing taking place on this and everything probably tomorrow about what happened. all of the details about the military attack. the lead up and a hearing we had about 16 hours before the attack, in which there was no indication from the secretary of defense, or the chairman of the joint chiefs of staff that an attack was imminent. less than one day beyond the moment before at the armed services committee hearing. , is therethis unusual a small amount of information flowing from the white house, given the military attack in the middle east? rep: garamendi: it is not unusual, probabl

emily: that was discovery's ceo with bloomberg's david westin.l interview tonight on bloomberg at 9:30 p.m. eastern time. now, back to our top story, i want to hop into the bloomberg terminal. amazon gaining in extended trading after ceo jeff bezos said the company has exceeded 100 million paid prime members. he noted that milestone in his annual shareholder letter. that does it for this edition of "bloomberg technology." he said the e-commerce giant will continue to invest to meet ever rising customer expectations. thank you so much for watching. we are livestreaming on twitter. check us out, @technology. that's all for now. this is bloomberg. ♪ >> the following is a paid program. the views expressed do not reflect bloomberg lp, its affiliates, or employees. >> the following is a paid program for trigger would fire grill. be warned. it contains desserts. you may find your stomach growling, your mouth watering, or that you have an uncontrollable urge to order your own traeger woodfire grill. >> it is

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this is westin, and westin hadn't made a purchase yet, you guys.""this is a private business... and you need to stop recording me right now." "i feel it may be my skin color. but this about to be on social media.">(steve) starbucks ceo kevin johnson has not commented about the january incident. (pam) more trouble for facebook -- this time in the form of a lawsuit over facial recognition software which scans user pictures.... and suggests tagging friends. the plaintiffs are a group of facebook users in illinois. they say, facebook collects and stores users' biometric data.... as a part of a "face template" .... without prior notice or consent. a facebook spokesperson said, the case has no merit and the company is reviewing the ruling. but a court disagreed and let the case move forward. it is the latest blow to the company... amid growing concerns about privacy. in sports -- the warriors prepare for a tough game- three in san antonio against the spurs. also -- the a's are celebrating 50 years in oakland with a free game for fans. our sports director,

emily: that was discovery's ceo with bloomberg's david westin.he full interview tonight on bloomberg at 9:30 p.m. eastern time. now, back to our top story, i want to hop into the bloomberg terminal. amazon gaining in extended trading after ceo jeff bezos said the company has exceeded 100 million paid prime members. he noted that milestone in his annual shareholder letter. that does it for this edition of "bloomberg technology." thank you so much for watching. we are livestreaming on twitter. check us out, @technology. that's all for now. this is bloomberg. ♪ ♪ haidi: trade tariffs and north korea, a lot to chew over as donald trump that stung to talks at mar-a-lago. ramy: the historic north korea summit moves closer and that president confirms the cia director was in pyongyang. sweden and switzerland to play host. haidi: a mixed bag of earnings, and all prices boosting producers. ramy:

i'm david westin. shery: i'm shery ahn. a quick check of the major averages.s sessions lows. we are seeing all major indices in the red. the s&p 500 slipping for the first time in four days. the nasdaq down 8/10 of 1% or tech shares slumping after semiconductors disappointing -- disappointing forecast. david: trait skirmishes between the united states and china could play a role in the upcoming midterm elections. ouri heitkamp spoke with colleague, kevin cirilli about the importance of the export, import bank when it comes to trade and her relationship with president trump. kevin: you are one of the few democrats who engages one-on-one with president trump. he recruited you for the republican party, and tell me that story. as this happened. sen. heitkamp: as i told a reporter, you're talking about issues like overregulation and trade. he said, is unlike a republican. so join the republican party. sen. heitkamp: your response -- kevin: your response? sen. heitkamp: my response was give me the bank. he has a wonderful sense of humor. kevin: would you join the re

this is bloomberg. ♪ david: this is balance of power i am david westin. is a recovery day for the stock market. that is not the case for airlines. rising fuel costs are taking a chunk out of their profit outlook. to theirares dropped lowest level since last year after american airlines beat estimates, but then said we are lowering our full-year forecast. it has to do with jet field. jet -- jet field. year andsen 21% this this is the second biggest cost behind labor for airline companies. american airlines being the largest airline company is no exception. it leaves a lot of questions. they cannot offset this, they are not hedging against the rise in oil prices. that is exactly it. it was interesting to me. ago when oilears prices fell we thought this would be great for airlines and it wasn't because of hedges. here we are back on the situation. david: we're going to put a g chart here. it illustrates what you are talking about, the extent to which there has been an increase in stock price. today it is down 5.7%. the question is, can you pass it along to p

david: i am david westin. >> the european union says facebook has pulled up to 2.7 million people in0 nation bloc may have been affected by the data privacy crisis. and eu spokesperson says facebook confirmed that number in a letter. >> it is already clear that this will need further follow-up discussions from facebook on the changes. on the new european data protection rules and broader questions on the democratic process. >> the eu commissioner and facebook coo sheryl sandberg plan to speed by phone next week about how to strengthen data protection. in the u.k., the poison former russian spy is no longer in critical condition. doctors say he is responding well to treatment and improving rapidly. the british government has accused moscow of being behind me nervous and poisoning on him and his daughter. former south african president jacob zuma was in court to face corruption charges. 16 charges of fraud, racketeering, and money laundering were recently reinstated after being thrown at nearly one decade ago. after the defiant hearing and told supporters that the case against him was

i am david westin. shery: i am shery anh. we have a focus on politics and the economy. the top stories we are watching. winning the peace. he received a nobel peace prize for winning -- bringing peace to his country. now we focus on the foundation of that piece. santos.with juan manuel the new brazilian finance minister is here to map the way forward. is french president macron arriving in washington about an hour from now with a great deal of ceremony in store, includes an -- including president trump's first state dinner. there are policy issues to be discussed as well. shery: starting this first day of the trading week on a positive note both for equities and yields. let's get a check on the markets. here is abigail.

. >> reporter: meantime, those needing a comparable place to stay in the area might check out the westin and the sheraton. now, i have noticed extra security here at the four seasons, but no motorcade as of yet. i'm told the hotel will be closed to the public through saturday. reporti ining live from palo al laura sambol, nbc bay area news. >>> well, the state supreme court with a close vote today and it's all about dna. california will continue to collect dna cheek swabs from people who are arrested for serious crimes. the court voted 4-3 in a san francisco courtroom today. the dna act was passed by voters in 2004. five years later, arson suspect mark buza declined to give a cheek swab with a dna sample. he was arrested that year for setting a police car on fire. he was later convicted after he refused to give a cheek swab and was sentenced to more than a year in prison. >>> the united states versus california. today, attorney general jeff sessions filed another lawsuit on behalf of the trump administration. this time over land rights. sessions argues california law is unconstitutional,

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i am david westin with alix steel. we are just overlooking technology square.ust coming up in atlanta. --ta airlines, home depot companies like these have innovation centers in atlanta. we just talked to craig menear. now we will talk to mary v, who isr of veriti kind of the canary in the mine shaft -- alix: canary in the coal mine. david: and frank patterson, the president of pinewood atlanta studios. you do not think georgia being as a movie capital -- alix: "black panther" here. david: the new "spiderman." but i have not seen 2. risk on the market, rally. the s&p trying to claw back losses from friday after a 2% loss -- the sixth we have seen so far this year. deutsche bank, new management they're helping leave the dax higher. and asset classes -- i will be watching supply. 68 billion dollars coming online. what will the market be able to absorb? 10 year yield coming on higher. record short on the five-year. the 2/10 spread a tiny bit modestly mixed dollar story. aluminum ignoring all of that, the biggest increase since 2015. david: to find out what is going

i'm david westin. >> i will explain all of this for you. where's the equity rout? twitter comes in with some killer earnings, popping 13% in premarket. daily active users up to 10%, monthly active users up 3%, revenue and earnings in the estimate for their second quarter also raised above estimates. moments ago the stock was up 13% coming out by just about 5%. meaning -- in the out.ime we have smithkline they beat estimates there as well. the revenue also is a little short on a $7.22 billion. that is glaxosmithkline coming out as we speak. caroline: amazing numbers. the high watermark on the call completely rolled over the equity market. andd: caterpillar came out their stock went way up. then we went off the air, and they had that one comment come a maybe it doesn't get any better than this, and they tanked. david: you loser --caroline: you are losing earnings, visibility, too. the question is, why are the markets so sensitive right now? is it because interest rates are going up? is it because tax cuts only last a certain amount of time? caroline: we are relying o

i'm david westin alongside alix steel. guess who's going to the capital? alix: all of the action overnight was in china. by the afternoon it's going to be all on capitol hill. how angry are these congressmen going to sound? david: they have to make a lot of points with their constituents back home. i can't remember the last time they had a joint hearing. they don't do that in the senate. alix: that's going to be a lot of posturing for a very long time. s&p futures are up by about 27 points. 123 is how we print holding despite the fact that french factory data missed. 280 is how we print. the 5:30 spread keeps on flattening and commodities seeing an enormous risk on rally. a monster rally five-day winning streak. that's all a russia and trade story. david: gina martin adams's chief equity strategist for bloomberg intelligence. and michael mckee. jinping came out to try to make nice with the americans. listen to it. >> i am confident that with these efforts china's financial sector will be much more competitive. our capital market will continue to enjoy heal

david westin is off today. he's taking advantage of this beautiful day in new york. the vacation thing is really great. i wish him well for the one day off. and exiting session is developing this week. futures in the u.s. are flat. dow jones is flat as well. the dollar stronger across the board, 120 34 euro-dollar. 123 for euro-dollar. there is not what happening after that steep selloff across the board. now, to 91 is how we print as rake even. rolling over a little bit now. president trump finally tweeting on my area of expertise, he does not want to lower oil prices. let's get headlines on with taking up. president has been told he's not a target of the investigation into russian election-meddling. or the probe into his long time lawyer. rod rosenstein offered the assurances to the president last week. that has tapped down his desire to fire either rosenstein or robert mueller. opec and russia used production cuts i-97 percent. they are fighting reasons to cut more. they are meeting in saudi arabia. the cutbacks will remain in place until the end of the year. pres

david: i'm david westin. alongside with alix steel. alix: it's great to see you. david: easter monday, it is snowing outside. alix: happy april, it is snowing. there is some defense if you are an equity trader, otherwise it's a calm a market, features off about nine points after the worst loss for the s&p. euro-dollar is flat. equityis closed and markets are off-line. make ruiz still rising, at one point brent is over $70 a barrel and the best quarter since 2014. you know what happened in the third quarter 2014? after that, we will tell off a cliff. fell off a cliff. david: time now for the morning brief, we look ahead for the week. the new york fed will be out with the libor, the secure overnight financing rate. or sofr. it's job stay come with the unemployment rate likely falling below 4.1%. and friday is the deadline where u.s. trade representative lighthizer weighs in on the intellectual property proceedings, which may trigger another round from china. we're joined by lisa abramowicz. the first topic is the mess we saw in the first quarter. but january aside,

from new york, i am david westin. >> welcome to bloomberg markets balance of power. >> here are the top >> tpp confusion as president trump clarifies reports saying the u.s. would only rejoin the transpacific partnership if the deal is substantially better than the one previously negotiated. the summit of the americas moves in -- who is in and who is out, why vice president pence will attend but robert lighthizer will sit it out with an agreement on nafta remaining out of reach seemingly. likens donald to a mob boss in his new book. the present call the former fbi director a slimeball. ♪ david: president trump has been storm, up by the tweet from

i am david westin. am stephen isaacs and this is -- >> jobs numbers disappoint.nt -- anticipate what comes next in the next world words because that's between washington and beijing? whether economic growth could be headed in the wrong direction? the united states take sanctions to the next level, going after some of the biggest names in russian biggest personally, including the man said to be vladimir putin's favored industrialist. ♪ vonnie: we begin -- >> the economy adding 103,000 jobs in march, missing estimates

david: i am david westin. focused on the intersection of the economy.r getting republicans in the house. president trump meets with japanese prime minister abe this afternoon and we will look at the key issue. trumppublicans make the tax cut permanent before the .idterm elections ? ♪ david: white house reversal. sunday, nikki haley said the trump administration would be imposing more this time in response to alleged russian support fo

from new york, i am david westin.ntersection of politics and the economy. >> here are the top stories. president trump makes his move on $50 billion worth of imports from china and the chinese president matches with chinese own tariffs on the same imports from the united states. equity markets move sharply down on news of a growing trade dispute but they come back as investors start to sort out what is real and what is not. hit any bread basket, china draws a bead on the american farmer with soybeans at the top of its list for retaliation. shery: markets reacting to trade, already with some big swings. here is abigail doolittle. >> we have had some intraday volatility and we do

from bloomberg's world headquarters in new york, i am david westin. shery: i am shery ahn.: balance of power." david: cia director mike pompeo secretly visited north korea to meet with kim jong-un and president trump said details are being worked out. immigration,ty on a law struck down saying the language was too vague on which crimes were included which the president calls a public health crisis and to congress to fix the problem. a challenge to the time warner-at&t merger moves to the next phase and try was speculation the government's case may have holes and we talk with the ceo of discovery of bipartisanship in the cable channels he helped create. ♪ shery: mike pompeo travel to north korea to meet with kim

right i'm david westin, here with alix steel. you said it is a sunny morning for morgan stanley. alix: the stock is up over 2%, what will it hold? up 11%, $1.9 billion. equities just killing it, coming in at $2.56 million. atestment banking beating, $1.63 billion. the story will for jpmorgan and citi was that it was not a good time for investment banking and ficc, but morgan stanley proved them wrong. david: they saved the best for last when it comes to earnings. alix: joining us now is alison , aliams, and devin ryan brokerage analyst. he has a market performance rating at $50 for morgan stanley. give us your details. trading is better than expected, so that is sharing a positive surprise across the board. tough, keepagainst in mind morgan stanley is the biggest. one thing i will point out, is a good quarter across the board from what we have seen, but goldman sachs, there is a lot of nitpicking. they have been losing shares with ficc and underperforming. perhaps they are doing better this quarter. when we look at the december, if we think about some of the give-and-take, bank o

i am david westin. i am here with alix steel.djusting $2.20, andr-share of we had it at $1.25. revenue of $8 billion. time warner with a nice beat. the big issue is the merger with at&t and the trial and court decision. alix: final statements on april 30. david: the judge might have a criminal trial, so there could be a delay. i think there is a june 15 deadline for the breakup. alix: union pacific out. the railroad company to measure the health of the u.s. economy. earnings killing it, $1.60 a share. revenue at almost $5.5 billion. both of them beating estimates, as well. 0%enues for ag products, growth, an interesting side note. operating ratio only 65%. -- solid lied numbers headline numbers. that's docketing a boost. david: everyone seems to be beating, but it is not necessary reflected in the shares. also saidolk southern they saw a promising outlook for 2018 and couple days ago. in the markets, it is about waiting for that ecb meeting at 8:30. s&p futures are up 7%, buoyed by facebook. euro-dollar unchanged on the day now,

from world headquarters in new york, on david westin. shery: i'm shery ahn.berg markets: balance of power." david: here are the top stories. trumpg call, president needs a new candidate to run the veterans administration after dr. jackson withdraws his name. can scott pruitt be far behind? mnuchinthe wire, steve going to china as the deadline looms for the u.s. imposing tariffs on $50 billion in chinese imports. and marijuana tug-of-war. it, nowic favors republicans are 20 with democrats to make it easier to experiment with cannabis, but the attorney general says no to expand the use of pot. ♪ shery: cabinet shuffle, president trump's team facing a busy day after

from new york, i am david westin. >> i am shery ahn.ntersection of politics and the economy. david: here are the top stories, syrian strike aftermath, the u.s. says more russian sanctions on the way and it is ready to hit syria again if necessary. jamesesident and the fbi, comey says the president is not morally fit for office, the president says james comey committed many crimes, the one winner is the sales of james comey's book. lawyers for president trump go to fight the justice department reviewing documents are ready taken from his personal lawyer as the saga continues. ♪ david: let's get a check on the markets with julie hyman. julie: stocks are rallying to some extent, very high expectations when it comes to earnings

david: and i am david westin, welcome to balance of power.he are the top stories of the hour. larry kudlow says the u.s. wants to pressure china on its unfair trade practices and not spark a trade war. and while the president's potential trade move doomed the chances of republicans holding the house? will look at why agriculture tariffs may hit the president hardest. and getting ready to face the music. mark zuckerberg testifies before congress next week on facebook's data practices. will it be enough to satisfy congressional critics? ♪ david: president trump's push for more bounced trade with china has investors on edge and white house economic adviser larry kudlow

welcome to westin.ot just to get up ♪ but to rise. ♪ well it's a perfect nespresso hold on a second.orge. mmm. ♪ [mel torme sings "comin' home baby"] hey there. want a lift? ♪ where are we going? no don't tell me. let me guess. ♪ have a nice ride. ♪ how far would you go for coffee that's a cup above? i brought you nespresso. nespresso. what else? is part of a bigger picture. that bigger picture is statewide mutual aid. california years ago realized the need to work together. teamwork is important to protect the community, but we have to do it the right way. we have a working knowledge and we can reduce the impacts of a small disaster, but we need the help of experts. pg&e is an integral part of our emergency response team. they are the industry expert with utilities. whether it is a gas leak or a wire down, just having someone there that deals with this every day is pretty comforting. we each bring something to the table that is unique and that is a specialty. with all of us working together we can keep

i am david westin. shery: i am shery ahn. the nasdaq is that special lows.ve been dragged down lower by google's lower results. it is way by material land industrials but financials are up, given the 10 year yield is a touch below 3%, which it topped earlier this morning for the first time since 2014. david: we want to get headlines from mark crumpton. treasury secretary steven mnuchin will be for china within the next few days for negotiations with officials over u.s. trade disputes. president trump confirmed to visit today with the french president. mr. trump says if they cannot find common ground, then his proposal for chinese goods will go into effect. the trip for china will be secretary mnuchin's first as u.s. secretary of treasury. the northern rebels held province could become the country's newest humanitarian crisis area. today, along with the foreign-policy chief, he spoke. challenge.ig new 2.5 million people, and you will not believe that all of them are terrorists, of course, their women, children, civilians. making that it would be sure it does

david: i am david westin.ent has rested its case in the at&t-time warner antitrust trial, the companies now have a proposal that they do not violate antitrust laws. the time warner ceo scheduled to take the stand today and the at&t ceo after that. joining us on the phone is the senior antitrust litigation analyst for bloomberg television. you know antitrust well, there is a piece in bloomberg saying that it looks like the government case is not doing well. , theiece of evidence spread has come down. it is not all the way down to where it was what has come weigh in during this trial. our audience can see this. >> yes, this probably has to do with what happened last week. what we saw with the primary part, the most important part to department of justice case was their expert economic witness. this was carl shapiro testified last week. it is up to him to establish how this merger will be anti-competitive. and result in price increases. they do not have a presumption they can walk and to try with as you normally

in hong kong, from bloomberg headquarters in new york i am david westin. shery ahn is off today.ance of power and here are the top stories we are watching at this hour. to the second quarter for u.s. stocks as major averages are falling around 2% as of now with the nasdaq the biggest decline or. -- as itse standoff gets ready for more to come with broader tariffs to punish intellectual property of users. democrats think they have a good chance to take over the house in november and al hunt has what it will take. ♪ david: breaking news as markets tumble on the first day of the second quarter and here is abigail doolittle to take us through it. abigail: stocks are tumbling and a selloff note best the

shery: that was david westin and alix steel speaking with jeffrey sprecher, the chairman and ceo of intercontinentalilmanhead, christopher talking about facebook and seeking information on what the tech company is doing with the user's data. vonnie: the markets are higher. checking the major averages, up 1.8%. a bounce back for the dow. s&p 500 up 1.9%. up 2.2%nasdaq also right now. also, a reminder bloomberg users, you can interact with the charts shown all throughout the tv onam, just type gbt your bloomberg and can play with those wonderful charts. ♪ york, 11:00. in new a.m. and sabr san francisco, and 7 p.m. in london. >> "bloomberg markets." welcome to "bloomberg markets." ♪ tax we're live in bloomberg world headquarters over the next hour. here are the stories we are covering to -- covering. battered,sets getting is a new wave of sanctions leaves the kremlin scrambling to contain damage. ceo takes the reins as a push mount over biggest investment banks. -- breaking news on monsanto. let's bring in julie hyman. julie: the department of justice has given the stamp of approval to

welcome to westin.n a choice not just to get up ♪ but to rise. ♪ ♪ ♪ >>> along the border, owl policies don't just affect the people we're trying to keep out, they also affect americans. this is betty lynch and her sanjay soso son jason. they felt the border change. >> how much land of this is yours? >> 111 acres and the house is right in the middle, so i don't have to deal with neighbors. [ laughter ] >> so you can have sole privacy. >> privacy is a thing of the past. >> why do you say that? >> the border, it used to be peaceful. mexican cows would come across and mexican cowboys would come across and get them and i would give them a coke. when i moved here, there was four border patrol agents but now there is over 1200. >> whoa. >> that's too many border patrol agents. >> they are not kidding about the rise of security. in 1992 there were just over 3500 agents along the southwest border. in 2017 there were over 16,000. and they are still hiring. >> so guess what they put their wall? right behind my pr

westin, the discovery ceo -- they discussed the recent acquisition.k in. >> there is a financial and a strategic drive that we think could really work for us. we are in cable. we both do the same thing. we feel we are comfortable putting these companies together. it gives us the opportunity to have the cash flow. it generates about eight. we think we can get about 28 or synergies, a lot of cost synergies, mostly cost synergy. with almost $3e billion of cash, it creates a moat in that time. there are a lot of great companies. whether it is disney or rupert or comcast or nbc, cbs, they are mostly in the scripted and movie business. of the business is focusing as if it were a soccer field, the ball is scripted series and scripted movies. crowded and is getting very disruptive. number of scripted series have gone from 200 to over 500. apple and amazon and netflix alone are spending almost $20 billion on top of the companies. we look at that and we say we are not that. we are on the other side of the business. we own all of our content. it is real-life ent

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. ♪ david: it's noon in washington, from bloomberg's world headquarters, i'm david westin.ry: i'm shery ahn. welcome to "bloomberg markets," balance of power. david: trader consequences. treasury secretary mnuchin is a leading a trade division and after negotiators failed. multiple fronts and a potential trade war. and reaching the summit. president trump says maybe he should meet with kim jong-un in the military -- demilitarized zone after all. and reading the tea leaves, in a week packed with you as economic news, we talk with one of the biggest investors around about what he is looking for. from the california state teachers fund that manages over $200 billion in assets. ♪

he joined david westin and alix steel on daybreak america's.we stated clearly several months ago by president xi and his senior adviser that china is going to move ahead aggressively and lifting the ownership requirements on financial services. the news last night may have added more clarity to that commitment, but it was not new news. >> i enjoyed the piece you wrote on bloomberg, and he said the west beats china more than china needs the u.s., in part because we buy stuff. i wanted to highlight that point. you let at the blueline of u.s. trade balance versus the white line, which is the u.s. personal savings rate and percentage of disposable income. can you walk us through? stephen: what a country doesn't say, i look at personal saving and government saving combined, all adjusted for depreciation. on that basis it was 1.3% of national income in the fourth quarter of last year. that is ridiculously low for a leading country. we have to borrow savings and we run this big cap and multilateral trade deficits, with 102 countries last year. china i

mayor westin broom. >> thank you very much. and i will say that mayor, landrieu, i agree with you that the issue of closing gap between law enforcement and the citizens of our community is certainly a solvable problem. but it's not a simple one. my best friend who was a -- an elected official once said that public service is not forethe faint of heart. i would say coming up with a slugs to what we are discussing today is certainly not for the faint of heart. i have been the mayor of baton rouge for 15 months. but who is counting? when i came in office i inherited a community that was in great need of healing from three tragedies that took place in the year of 2016. the first was an officer-involved shooting surrounding the alton sterling case. the second was the ambush and murder of three law enforcement officers. the third was the great flood of 2016 that took place in baton rouge and surrounding areas. when i took the oath of office in -- on january 1st, 2017, those issues didn't stay in 2016. they came right with me as mayor