i'm emma chandra. this is bloomberg. i cannot tell you how much of my day was then reading about the -- was spent reading about the swiss vote. i went down the rabbit hole. david: that was further than i went. alix: the bank of america is calling this the most important week of the year for the global economy. a series of central-bank meetings. argentina comes out with a decision to bar, fed, wednesday, thursday, japan and russia on friday. a central-bank policy divergence. the fed is continuing to hike is that yellow line. will that continue or is convergence of the theme? megan greene and neil dwane are back with us. what is the most important central-bank meeting of the week? >> it is the fed. seenthe problems we have in turkey, brazil, and argentina, the fed will be raising rates. it depends how hawkish they are. i think the most important thing the fed is doing is the quantitative tightening. ins is going to happen more an accelerated fashion in the second half of this year, which underpins the dollar and we see fur

for that, we turn to emma chandra.de dispute between the two largest economies is escalating. china has got to retaliate after president trump written terrace on another $250 billion in import. move extremed the blackmail. the chinese benchmark stock index fell 4% and u.s. futures are lower. on capitol hill, lawmakers from both parties are calling on the trump administration to end the separation of families caught trying to enter the country illegally. democrats have seized on the issue, families be kept together. president trump meets with house republicans later today. in the u.k., british prime minister theresa may is trying to head of a humiliating defeat over brexit. we have learned that may will not be offering any more concessions. the house of commons votes tomorrow on an amendment that would give parliament the power to stop a messy brexit. global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am emma chandra. this is bloom

emma chandra is here.u are discussing, opec moving closer to an agreement to boost oil outputs. oil minister is not pessimistic, a reversal from last night. saudi arabia is leading the charge for an increase. the countries have been drafting language for a deal. they split in the trump administration on how to handle the trade fight with china. some officials are trying to restart talks with china, before u.s. tariffs take effect july 6, setting up a battle with other officials who take a hard line. one of america's best-known conservative commentators has died. forles wrote speeches democrats before turning to the right. he was a passionate advocate for invading iraq in 2003. he belittled barack obama and his columns won him a pulitzer prize. he died yesterday of cancer at 68. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm emma chandra, this is bloomberg. alix: trade with china, trade with greece. david: pretty s

emma chandra is here with first word news. rnment is, with a brexit proposal aimed at heading up a rebellion by some in her cabinet. she wants to tie the you kde you customs rules. she will see this as a way to avoid a hard border in ireland after the split. endplan should come to an december 2021. that's when the you can expect a trade deal with the eu to be in place. vladimir putin says he is confident of the country's top banks for long economic growth. he said on the whole russia is moving in the right direction and also said the country will not introduce a sales tax. it was his first live televised interview since he was reelected. china is willing to increase imports to the u.s. if the trump administration meets it halfway in trade talks. the chinese minister of commerce said the two sides have had detailed talks on farm and energy products. an official said it is an established ratted you. global news 24 hours a day on air and twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm em

i am emma chandra. >> the u.s.escalated over the weekend when beijing retaliated president trump's announcement that he would put tariffs on $35 billion of chinese imports. details of chinese restrictions on u.s. imports will follow next week. joining us now is carlos gutierrez, the cochairman of albright stonebridge. he served astly u.s. commerce secretary under president george w. bush and was the former ceo of kellogg company. a guy who knows about both sides of this. secretary gutierrez, good to have you with us. >> thank you, good to be here. >> you are, what does this look like? you get this order from the president to make some historic decisions and put them into action, how does this work? deal.s is a very big whetherre talking about we are going to be in a trade whether a trade war is coming. make no doubt, the trade war is here. we are in a trade war. i am surprised it has taken the market so long to recognize that. this has started and it is going to continue. we have the tariffs on aluminum and steel,

emma chandra is here with first word news.mp and vladimir putin will hold the first bilateral summit july 16th. talkpence says he expects to include russian interference in u.s. elections and the kremlin's military incursions into the ukraine and syria. euro area arehe growing concerned about the economic outlook. the european commission index of household sentiment fell to an 8 month low. aboard a measure of confidence that includes businesses also fell for 6 straight months. e.u. leaders are meeting in brussels as part of a two-day summit. immigration is part of the agenda. the prime minister of greece alexis tsipras told bloomberg it requires an european solution. >> we need to consider whether the crisis and other -- at any other big crisis and challenges felt by europe will be dealt collective spirit. dealer each country will with it separately tilting fences and only looking in their own front yard. emma: global news 24 hours a day, on air and tictoc at twitter, powered by more 2700 journalists and analysts in more than

emma chandra is here. discussing, euro area inflation hit the symbolic 2% level in june, the first time in more than a year, supported by higher oil prices. the pickup in the rate of price growth was in line with forecasts. core inflation which excludes food and energy, slowed to 1%. andda is targeting whiskey toilet paper in response to the tariffs on steel and aluminum. the prime minister will mark the 151st earth day sunday by imposing $615 billion worth of terrorists on u.s. -- tariffs on u.s. imports. launched itssfully resupply mission to the international space station. it is carrying equipment, for nasa. it is now in good orbit and is -- and ai robot is traveling on board. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am emma chandra. this is bloomberg. david: european leaders way toted to find some deal with the flow of migrants into the bloc, and what happens once they get in. we welcome maria tadeo. mr.

emma chandra is here with first word news. house press secretary sarah sanders was told relieve of virginia restaurant, the president tweeted his response. the restaurant should focus more on cleaning its doors and windows, badly needs a paint job, rather than refusing to serve a fine person like sarah sanders. i'll is had a role, if restaurant is dirty on the outside, it is dirty on the inside. last week, homeland security secretary christi nielsen was heckled at a homeland -- and a restaurant in washington, d.c. the month-long anti-u.s. imperialism rally is designed to strengthen unity, ending with a national holiday on july 27. north korea has softened its criticism on the u.s. and state media has been allowed to report on the june 12 summit between kim jong-un and donald trump, many times many new -- the first time a north koreans have seen the u.s. president. in turkey, the president has won a victory to govern after a double victory and president terry and parliamentary -- and president and parliamentary elections. the co

i'm emma chandra. this is bloomberg.nk they already know the federal reserve will rise -- announce a rise in rates. what they are not sure about is what comes after that. this chart will show you what the markets are projecting. you got this. david: anyways, what it shows is g for rkets are year it is much 50/50. next year, a little bit better than 50/50. two rather than one. joining us now is david donabedian and michael mckee. david, what do you expect, three or four? it will be for rex hikes. we continue to see the economy strengthening. you look at what has happened since the last fomc meeting, st of the economic data has suggested accelerating growth over the next few quarters. when it comes to inftion, the core pce data that the fed focuses on, that is about the only inflation indicator that is slightly below 2%. and employment cost, already about 2%. the fed tot lee's averaging one rate hike a quarter this year because they don't want to get behind the curve or when they inevitably need to react to a weaker econom

emma: emma chandra for bloomberg news. does it for this edition of "bloomberg technology." from san francisco i am emily chang. this is bloomberg. ♪ >> u.s. stocks jumped the most in three weeks as tech rebounds, but it is another miserable day for emerging markets. >> the fed forces six u.s. banks to scale back shareholder payout, while at deutsche bank unit fails the test entirely. continues,uan slide authorities intervening at a key psychological level. >> and president trump praises foxconn as he tours the new wisconsin point. -- plant.

shery: emma chandra, thank you for that.morrow on balance of power, goldman sachs chairman and ceo joining bloomberg editor-in-chief john nicollet live from the economic hub of new york. that is 12:00 p.m. eastern. if he missed on any of our charts, gtv go is your function. this is bloomberg. ♪ ♪ mark: i'm mark crumpton with first word news. comes immigration policies under criticism from democrats and republicans, president trump is it again defending his administration's actions. pres. trump: the united states will not be a migrant camp, and it will not be a refugee holding facility. it won't be. you look at what is happening in europe, what is happening in other places, we can't allow that to happen to the united states. not on my watch. homeland security secretary kirstjen nielsen also discussed the policy, telling a law enforcement congress in new orleans that order agents are not the rule by separating some children from their parents. iraqi shiite forces and a syria are accusing the united states of targeting their tr

emma: emma chandra for bloomberg news. for this edition of "bloomberg technology." from san francisco, i am emily chang. this is bloomberg. ♪ what's a gig of data? well, it's a whole day's worth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. announcer: the following is a paid program and do not reflect the views of bloomberg lp, its affiliates, or its employees. announcer: the following is a paid presentation for the teeter, a natural, simple in-home solution to back pain that has helped millions of people get real relief for over 35 years. if back pain has been keeping you from enjoying an active life, if you're missing out on time with family and doing the things you love, now there's an easy way to finally get the relief you need. with teeter.

emma chandra is here with "first word news." as accused paul manafort of trying to tamper with witnesses. manafort is confined to his home while awaiting trial on charges of money laundering and acting as a unread -- acting as an unregistered foreign agent. the death toll from that guatemala volcano is likely to go higher. and lava caught people offguard. u.k., the labour party leader will accuse prime minister theresa may of refused of failing to stand up to president trump. a spokesman for the pm said it -- said the accusations are unjustified and deeply troubling. global news, 24 hours a day, on air and at tick toc on twitter, powered by over 2700 journalists and analysts in more than 120 countries. this is bloomberg. david: commerce secretary wilbur ross has returned from china without progress on trade. president trump is heading to a g-7 summit in quebec where his counterparts are connected to give him at your full on steel and aluminum tariffs and now members of his own party are getting restless. we welcome our chief wash

i'm emma chandra. this is bloomberg.al reserve begins its two-day meeting today and it will only take one member to bump up the median. this year to four. the white line is for 2018, almost 3.5 hikes. the yellow is next year, 1.5 hikes. joining us now is stephen stanley, one of the most hawkish on the street, calling for four this year and three next year. bob browne is calling for only one this year and one in 2019. stephen, make your case for four this year, three next year. >> you have been on implement rate below 4%, growth will be strong in the second quarter. the fed needs to get to neutral pretty quickly. they have been very easy for a long time and it is time to get back to neutral. i don't think they would accelerate beyond what they have called gradual. i think four is the cap for this year and next. alix: bob, make your case. bob: we think the economic growth we are seeing over the next year it is the strongest over the next five. we acknowledge the strength in the data today but we look at where the environme

in emma chandra.xt hour, the energy word. ♪ >> now to your bloomberg business flash. investors and analysts are puzzled by nintendo's biggest two-day selloff in 18 months. the japanese company fell more than 6% after losing 4% on friday. volatility in nintendo shares jumped in april. investors are trying to gauge whether the company can maintain sales momentum of its popular switch games console. the media company that brings you shark week on's to become a global source. discovery has agreed to pay $2 billion among the national ranks for the pga tour. it includes online rights for the u.s. based men's golf circuit. movie could end up with a dubious distinction -- the first movie in the star wars franchise to lose money. north american box office receipts fell 65% in its second weekend of release. one analyst estimated it could lose $50 million. >> thanks, i didn't even see that one. now we turn to wall street. rogue,fiat chrysler goes taking steps to form its own finance arm as automakers seek to rec

emma chandra here with first word news. good morning, emma. emma: good morning.u were discussing with alex this this is the -- alix, is the world cup summit. watching the two countries for the opening match in moscow. they are trying to rework their successful deal to control output. russian once a larger increase from solvency. said that china could be a little upset by his news. the trump administration plans to announce it tomorrow. china is likely to respond with tariffs of its own. meanwhile, pushing back that north korea suggestions that economic sanctions would soon be relaxed. secretary of state mike pompeo said it will not happen until after complete -- kim jong-un completely gets up his weapons. working for the denuclearization of the korean peninsula. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am indirec emma chandra. this is bloomberg. alix: thank you so much. bubble is the five-year. comeatest policy decision investors looking for policymakers to invest more t

i am emma chandra.up in the next hour, scott sheffield, prior me -- pioneer natural resources chairman. david: we turn now to wall street to beat. wild day.deutsche's a major trading loss adds more fuel to the regulatory fire. guggenheim ways a deal. the boutique firm selling stake in its $250 billion asset management unit to global insurers. the world biggest shipping company appoints a female ceo in its first time in the 100 14 year history. about time now. alix: woohoo. t's talk about deutsche bank for a second because this is the u.s. unit that suffered a one-day loss in the first quarter that was 12 times what internal risk officers estimated for regulatory purposes. end ofote the ceo at the this story, many of you are second tired of bad news -- sick and tired of bad news. this is bad news. this is the kind of thing you just do not want to see. david: it is not just losing money, but knowing how much money you have at risk. the bar was way up there. alix: that is the whole point of doing -- deutsc

emma chandra has the first word news. emma: the competition over trade between the u.s.hina is about to get worse. bloomberg has learned president trump has approved tariffs on chinese goods worth about $50 billion. china says it plans to retaliate. the tariffs focus on technology, where china wants to establish itself as a leader. and former trump campaign chairman paul manafort could go to jail as early as today. a judge will decide whether he agrees with the special counsel's arguments that paul manafort try to tamper with witnesses while under house arrest. paul manafort is accused of money laundering and acting as an unregistered foreign agent of ukraine. talks between the u.k. and european union get messy, but one option could be put on a brexit. bloomberg has learned that senior officials have informally discussed whether the u.k. might need to stay in the bloc past the deadline. negation nations are at a standstill -- the negotiations are at a standstill. global news, 24 hours a day on air and on tictoc, powered by over 2700 journalists and analysts in more than

emma chandra has first word news. london's heathrow $16 billion expansion plan has won the banking of data backing of the u.k. parliament. customers biggest called the price of expansion to state. trade tensions between the u.s. and china are put in several projects at risk. china energy investment pledged $84 billion in shale and chemical manufacturing projects following president trump's trip to beijing last summer, but the escorting trade issues are causing problems. special counsel robert mueller is preparing to accelerate his promise into possible collusion between donald trump presidential campaign and russians interfering in the 2016 presidential elections. a source says mueller and his team has an eye toward producing conclusions and possible indictments related to collusion in the fall. global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm emma chandra. this is bloomberg. alix: quantifying the real is first andiffs foremos

emma chandra is here with first word news. good morning. emma: the bank of england says u.s.' increasing debt load poses a risk to financial stability. the boe financial stability report -- loans increased sharply in 2017. total corporate leverage in the u.s. has risen to levels last seen before the financial crisis. presidt trump signaled he may take a less confrontational path toward china as they try to curb chinese investment in sensitive u.s. technologies. the comments occurred to align him with steven mnuchin's approach in an internal administration debate over how to protect u.s. intellectual property from china. mitt romney has won his party's senate primary in utah. romney is now a heavy favorite to win the senate seat in november. global news 24 hours a day, on air and tictoc at twitter, powered by more 2700 journalists and analysts in more than 120 countries. i am emma chandra, this is bloomberg. david: steel remains at the center of some contentious trade issues with reports that canada is considering imposing its own tariffs and quotas in response to the united s

emma chandra is here. what has changed? bit of if you scratch my back, i will scratch yours. a quid pro quo between the u.s. and china. both an xp and qualcomm stocks doing pretty well this morning. the background is that early this morning, we heard the u.s. made a deal to let chinese telecom in a fracture his resume their purchases from american suppliers. back in april, they were blocked. they were said to have violated sanctions on north korea and iran. they thought then that the index nxp deal would get blocked. , as soon as we heard of the zte deal, china is likely to approve the nxp qualcomm deal soon. a bit of a quid pro quo seems to be happening. suppliers in the u.s. falling back today. of 18% of the revenue from nxp -- we have a graph that shows that. zte's rivals in device making are not doing so well. it seems like zte is back in business. vonnie: that is our stock of the hour. mark: time for the bloomberg business flash. biggesticial -- the farm chemicals maker in the world. they closed their acquisition of mo

vonnie: emma chandra with our stock of the hour, thank you. , we look at how -- is using his real estate this is bloomberg. ♪ caroline: london, i'm caroline hyde. vonnie: this is "bloomberg markets." trading hedgecly fund trades at a 22% discount. to boost that price, ackman is turning to his real estate ventures. let's turn to jason kelly. first let's show the discounts now which shows 22% discounts. ackmanthe problems, promised it would never trade is a discount. jason: it's widened dramatically. it's not unusual for there to be 2% really one he should -- but 22% shows how wide it has gotten. he is movsome of his own money to try and bolster that. vonnie: he's always been involved in real estate in a profitable way, is it for sure he is moving money from their into this vehicle to shore it up? jason: that's what we think is going on based on regulatory filings. ackmanhas been up for -- has been upfront saying a going to use proceeds from a personal in toing to go essentially fund this endeavor. it's an interesting move, there is a lot to unpack here. part of it is he obviously vonn of

it's time for the sector spdr report and stock of the hour with bloombergs emma chandra. y select sector spdr etf. the xle. you can see it here, rising almost 1.5% today. trading up as we see oil go above $70 a barrel. this is as reports as the u.s. of pushing its allies iranian crude. also hearing from our colleagues, raising the sentiment around natural gas is perking up. this is attention -- is a tension. energy is in fact the best performing sector on the s&p today. we are looking at the s&p's imap. you can see energy is up 1.5%. really helping to push the s&p into the green. that rally and american crude, i mentioned, overshadowing any lingering concerns about the impact of heightened trade tensions. todays more of the cymer than a boil. let's take a look at some of the bigger winners in energy. we have beta up 2%. that is after we heard the ge plans to sell at 62.5%. gradually over 2-3 years. kendall morgan, trading up. with the blackstone now. also, chevron, once of big oil, all up today. benefiting from the oil price line that i mentioned. take a look at g #532 fou

emma chandra is here with more and even though john flannery has said we are not cutting it, a lot of expecting it. emma: they were expecting it and ge doesn't usually change the dividend midyear. andlowing cash generation shrinking asset base, they kept the dividend at 12%. take a look at my bloomberg. this shows how ge -- the ge has paid. john flannery cut it back in november and he sort of cut it in half and cap it at that -- kept it at that same level. the last time they cut below was after the financial crisis. there were some real concerns it would go again. flannery hasn't ruled out it could be cut again in the future. he is saying it depends on market conditions. julie: ge's troubles have been well documented. are there any great spots right now? emma: they did not cut the dividend? were not huge bright spot sprayed investors are reeling over the fact of the slump that wiped out $120 billion from the market value this past year and they are contending with troubles with financial liabilities and with an accounting investigation by u.s. regulators and a weak market for the gas

emma chandra is here with more. ident tweeted a lot this morning, including on immigration and trade but i'm guessing it is the auto tariffs that is having an impact. emma: he said based on the tariffs and trade barriers placed on american workers by the european trade union, it these are not removed, we will be placing a 20% tariff on all of their cars coming to the u.s.. build them here. interestingly, if you look at the bloomberg, you can see german carmakers as a whole produce more cars in the u.s. than they actually export. so the last part of that sweet did not make a huge amount of sense. nevertheless, we saw bmw paul, volkswagen and i'm there also. done right issued a profit morning because they were worried about the impact of tariffs between the u.s. and china. could looks like tariffs be coming directly to them in europe. david: we spoke to the european union officials before this came out. be put onffs were to autos and auto parts, this would be a huge escalation. the volume of trade is much higher and th

vonnie: emma chandra with our stock of the hour. ge is up 8% in today's trading.a peek at where u.s. markets are trading, where europe closed the tuesday section -- session. in europe, we saw the biggest selloff in march. ftse up on the day. a quick peek at the currency board, today has been another day dominated by trade and the assessment of the trade position and the situation between the u.s. and china. sterling is down against the dollar. we had comments from an outgoing member and it seems the incoming member is on the dovish side. the dollar.ainst ♪ what's a gig of data? well, it's a whole day's rth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. is noon in washington and midnight in hong kong. from bloomberg's world headquarters, i am david westin. lisa: i am lisa abramowicz in fo

emma chandra is here with more. what has apple said? emma: nothing specifically from apple.om nikkei is from industry insiders and the report says apple told suppliers that iphone orders will fall by 20%. it's a number that demand will fall. apple falling today and we are seeing suppliers also falling. we see the likes of sky works and broadcom also heading lower. apple apparently specifically referenced low shipments of the iphone debuting later this year. they have three phones coming out this fall. if you take a look at a bloomberg, i have the function pulled up. what you can see here is that in the green bars, that is how iphone is essentially the majority of apple's revenue. we know that. the iphone is essentially apple. what is quite interesting is that if you look at the yellow bars, you see the services. we spoke to dan ives and he dismissed this report. he said look at services. that is the second leg of the growth school for apple. that was interesting this morning. caroline: fascinating stuff. all this slightly taking away from that $1 trillion valuation. emma, we

great e you back, emma chandra.ou when a fiscal emergency is not really an emergency in california. this is bloomberg. ♪ ♪ david: this is "bloomberg markets: balance of power ," i am david westin. shery: and i'm shery ahn. this has been invoking risks for investors who purchase bonds as income.to fixed for many cities like california, a fiscal emergency can signal a golden opportunity. here to explain is an author who wrote about this story. she joins us from san francisco. a golden opportunity to raise taxes, tell us about this loophole? >> it is really interesting. when you hear fiscal emergency, you think, oh, the is the brink o solvency -- insolvency. the city of california has so much restrictions on where they can ask for tax increases. a new text, and theask for a tax governing body is not up for election it, they can declare a fiscal emergency and get it before the voters. that is what a couple of cities at least, have done for tomorrow's elections? david: if they declare a fiscal emergency, do they have to

oarlet: that was evercore's mar saad speaking with bloomberg's emma chandra.with vincent deluard of international fcstone financial next. this is bloomberg. ♪ mberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. mark crumpton. bloomberg has learned the kim set a time deadline and definite plans for departure. trump. has talk aboutberlin to ending fighting between the ukrainian troops and the russian-backed separatists in ukraine. they have considered the possibility of sending u.n. peacekeepers to the region where the armed conflict has killed -- since 2014. it is the first meeting of the so-called "normandy group" in a year. unilateral action on trade after a difficult summit i

julia: time for stock of the hour with emma chandra.: today we are looking at the xrt, the retail sector on spider etf. it is popping up on the screen, and we can show it to you there. retail,ialty is apparel pulling this etf down today. it is around about one percentage point. interesting, given what is happening in the wider consumer discretionary sector. let's take a look at the imap function on the s&p 500. we will pull that up, and you continuingt discretionary is one of the best performers, better performers of the day, and media stocks are pulling and driving those gains. we watched comcast and disney duke it out for fox. what is bugging retailers? in sales, retail sales rose may, but bloomberg intelligence told us the consumer is still under pressure and we are getting to an ever more competitive environment when it comes to retail, which is highlighted by a number of the name smocks -- named stocks, fred,iffany, sally, and down a lot lower today, 10% earlier in the day. this kind of shows us a cross-section of retail, from luxu

i am emma chandra. another celebrity suicide this week. enough with those headlines.ate hike has a pass -- and the possibility of raising rates -- it raises the risk. stresses have been contained to a few vulnerable countries so far, the risk and the broader pullback bears watching. we have seen that over the last week but the market expects the fed to continue with the gradual rate hiking path. hikess the expected rate in the yellow -- rate hikes. we are looking at 1.5 for next year. us now is steven major. he just came out with a note saying he is still bullish on the treasuries but they offer less value given the federal reserve policy trajectory. still with us is neill nuttall and michael mckee. can i call you the well-known treasury bull now? i get calls all sorts of things. i'll take what i can get. our forecast is 2.3% at the end of this year. think it was september 2017 will be first set it. the monthly views, the ebb and is a greatnk there deal of value. looking at the front of the you see anywhere around 2.5 percent, you are more than covered if the fed cont

julie: thank you so much, emma chandra. we appreciate it. still ahead, back to gm's warning. cut u.s. jobs because of import tariffs. this is bloomberg. ♪ >> 12:00 in san francisco 8:00 in london, i'm julie hyman. julia: welcome to bloomberg markets. julie: live in new york over the next hour who are the top .tories we are covering a close watch on trade tensions. canada fighting back with tariffs on u.s. goods. we speak to a key analyst. and why the u.s. will soon producer ofargest natural gas. not slowing because of it. >> they are shrugging it off. i am taking a look at the nasdaq, the tech heavy indices .allying after a volatile week that makes you want to jump in .ere performers, the why -- the right bar, they have been positive for the last straight corners. citigroup came up with the stress test. other three the jpmorgan, they had to pare back some of those distribution plans. $170 billion being returned to investors. i want to let you know what is going on tonight. it may be affecting u.s. jobs dragging down forward as well with it. julie: a stock reaction there. the

emma chandra spoke with omar saad and asked him what profitable call. mr.d: even with that of whether we've had, these are pretty big signals to last but there's more going on here that didn't cap bounce in retail and think there are structural changes happening in the industry that are sustainable. the most important things is the number think there are structurl changes happening in the industry that are sustainable. one thing as inventory management and number two additional marketing. >> you double upgraded macy's in this report and reversed your position from short to long. the posterlong been child for the struggling old world retailer, why this reversal? alexis the quintessential left for dead traditional old world retailer that is being disintermediation by disruptive skerry online pure players with amazon and others. we come to the conclusion that this company has got lots of assets and levers to pull and they're going to benefit as well from centralized inventory management in a digital world where you can service decentralize demand through sandr

we turn to emma chandra with the "first word news." e trump a is ramping up the pressure on china. in q -- they are accusing beijing of stealing intellectual properties and threatening national security. the report was released while the u.s. continues to consider imposing tariffs. the trump ministration has carried out its threat leave the united nations human rights council. ambassador nikki haley called the group a protector of human rights abusers. the u.s. has also singled out the human rights council for being biased against israel. opec is having for a battle in vienna. iran has rejected the compromise that would raise oil production a small amount to appease members of the cartel. that sets them on a collision course with saudi arabia which backs and increased output. an increased output. >> and very strong supporter of the declaration of cooperation and therefore the issue does not arise. we have confidence in the wisdom ministerbility of our who is the most senior minister in the opec family. emma: global news, 24 hours a day,