we have chosen fiat-chrysler.uite well in today's session. , and i will report say those reports are not from , the "asia-times" is reporting hyundai interest in fiat chrysler. and -- theyto try are going to try and deal with this carmaker after making it much bigger. there was an expected decline in fiat shares before an expected takeover was launched. 5.5%e chrysler shares up in today's trading. the third biggest gainer on the stoxx 600. up next, the battle of the charts. this is bloomberg. ♪ matt: welcome back to "bloomberg markets. y can see the start that we use on the bloomberg. gtb go.pe this is the battle of the charts. you got? there are great stories all of the -- although for the bloomberg. when you is not so bad look over the past 15 years. i want to focus on you taking out of china -- if you takeout onna, should you blame this the trade that has been going on in the chinese stocks? the chinese stocks in particular, you can see what has been underperforming in the emerging market space. line has outper

will keep building sedans, the whole shift towards suv's and that puts jeep and ram as far as fiat chryslertraction of the fiat brand as well as overseas. who knows, maybe fiat or markioni brand. cheryl: i know you will be covering for fox business, thank you for coming in, appreciate it. gerri: gary, great reporting, did this mistake cost lebron and the calves game 1. jared max with highlights and which word crowned this young man's as spelling bee champion. can you spell it. we will tell you, u.s. stock, dow up 121, the s&p poised to open 12 and a half and the nasdaq up only 25. you're watching fbn:am. brighthouse financial allow you to take advantage of growth opportunities... with a level of protection in down markets. so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife. stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com gerri: welcome b

. >>> fiat chrysler is also pushing further into the self-driving car business. that automaker is expanding its partnership with alphabet's a autonomous driving unit waymo. fiat chrysler is adding tens of thousands of mini vans to its autonomous fleet of self driving cars and that sent the stock up. >>> and from cars to planes, there's a big battle brewing at los angeles international airport. airlines are pouring billions into that airport into a costly but critical fight to win other those traveling through the country's second biggest airport. phil lebeau is at lax for us tonight. >> reporter: this is ground zero in the airline war to win over customers. l.a.x., considered a hub by three major airlines, is being remade by those carriers. the latest investment, $1.9 billion by delta to renovate two terminals. >> we're the fastest growing airline here in l.a. over the last ten years, over the last 5 years we've grown 60%. we're out of capacity. we can't bring anymore customers in and through until we redesign the terminals. >> reporter: delta is in a dog fight w

and fiat chrysler adding its vehicles are engineered to address realvi world d situations. no singl test measured overall vehicle safety. ford said we continue to makeo improvementsur vehicles to help customers stay safe on the road.ar 4,000 front seat passengers were killed in auto accidents in 2016. the most recent data available. these tests measure how well mid size suvs protect people in thea front during certain collisions. with the kia sorentoag and volk atlas and gmc acadia gets top marks. >> one of the things we observed is that the three -- the good rated vehicles are newer designs than the poor rated grand cherokee and ford explorer. >> the jeep and ford suve h been popular for years. and that is unlikely to change. even though these crash tests could give buyers something to think about the next time they go in theoo sho phil be low, "nightly business report," chicago. >> h&r block hikes the dividend and thais where we begin tonight's market focus. the tax company raised the quarterly dividend to a dollar a share after the bell and came an h&r block announced th

fiat chrysler is up 1.5%. saying it may bundle its tv, music and news offerings into one single subscription. it would work very similar to that of amazon prime as one-stop shopping for all apple media. no word yet of when the subscription would launch. still under development. take a look at apple right now, $186.20. up next, breaking detailsen on the deadly shooting in annapolis that broke during the claman countdown 24 hours ago. liz will be right back. ♪ ♪ running a small business is demanding. and that's why small business owners need more. like internet that's up to the challenge. the gig-speed network from comcast business gives you more. with speeds up to 20 times faster than the average. that means powering more devices, more video conferencing, and more downloads in seconds, not minutes. get fast internet and add phone and tv for only $34.90 more per month. comcast is building america's largest gig-speed network to give small businesses more. call 1-800-501-6000 today. my secret visitors. appearing n

fiat chrysler, they want to go back into that business.ss before, as chrysler was, and they had to get rid of it when it went bankrupt. >> this is a startling story to me. you're a car guy, at the end of the day, and all of us really remember very sharply those years ago, the financial crisis, the bailout, and chrysler specifically really being at the center of all that. >> part of what he came here to do was get rid of that financing. not too surprisingly, fiat chrysler went down. santander had a joint venture, and went up. if they have to buy it santander, they will have to overpay. >> right. the reporting that we have this morning -- or yesterday -- show santander is very excited. the new ceo last year, first day, one of the first things he did on the job was figure out how do we get more business. when rates are going up in the u.s., and you have auto demand moving sideways, that is where a lot of people are concerned, particularly from the fed. -- and gm, they are making money now. >> let's turn to the carlyle co-ceo. we did a whole p

white house move to slap steel and aluminium tariffs on canada, mexico, and the european union >>> fiat chrysleret to add more than 60,000 drives to waymo. >>> not only did the may jobs number beat forecast, april revised higher unemployment rates dipped to 3.8. the lowest since 2000. wages up 2.7 from a year ago the lowest unemployment going back to data collection in '72 very little wrong with this. >> yeah. we have an amazing economy now we have an amazing job-created economy. and, by the way, the growth is happening, if you're a worker, with not that much wage growth but the fact is that jobs are plentiful. we do not have enough people in this country that's what this number is about, to me, david. >> three-month average 172,000 2017 average 182,000 2016 average 195,000. >> where are we going to find the workers? >> i know. by the way, what is weird another record high and a number of those in the labor force. how do you -- what how does that work >> yeah. disability you talk about disability >> yeah. >> i have a friend who has a business in wisconsin. 500 people he said we have to go after

fiat-chrysler. 80% of their operating profits from jeep and the ram truck.: ford getting out of the car business. they only are going to be producing trucks. that's so amazing to me. >> i hope they are not out of cycle. if we see gas prices, we'll be out of sync again with what the consumer wants versus what the auto industry wants to provide. ed the auto industry made tremendous progress in safety in the automobiles. mary power raised the bar for vicinity at gm. i think we are seeing more technology migrate into the car. lane control with safety devices for if you look at collisions, close collisions. so i'm pleads with what they are doing there. fuel efficiencies, whether the cafe standards gets rolled back. a lot of hybrid cashe -- cars we you have a combination of gas and electric. i think it industry has a bright future. leaders of those counsel come police focused on markets and consumers right now. maria: will the leaders of tomorrow be the same leaders of today in terms of the auto business or will we see these, apple, google become car companies? >>

fiat chrysler with may sales sales ofhat showed how despite the 40% fanfare that came with the 2011 launchremember jennifer lopez? julia: jennifer lopez in a fiat? i'm not buying it. joe: u.s. rates up across the board in the wake of that solid jobs report, which puts the fed path on a clear path. when the italy stuff was at its peak, they dropped to 2.76, now the 10 year up 2.9%. italy quieting down a little. some wild swings this week. they are forming the government. the panic has eased. a new prime has minister, it has a new centerleft, pro-europe government, and its two-year yield back in the negative territory. the two-year yield. it was in negative territory two weeks ago, then went as high as 2.8%. government,ly got a so what does that bring? have an appetite for riskier assets and safe havens under pressure. .6%,r-yen higher relatively unchanged towards the back end of the session. , the highest for one week. we spoke to philip hammond. he said there is scope for the boe to normalize rates over time. i'm not sure he knows better than mark carney, but sterling higher in the session

gm and fiat chrysler have gone from bankruptcy to record ofits and auto manufacturing jobs in the u.s. have rebounded to precession prices. president trump wants europe and china to lower tariffs on the models being shipped overseas for the 7 million cars and trucks being imported to the u.s. could be slapped with hefty tariffs. >> it'll raise price dramatically for consumers in the united states. it will be uninflationary. ultimately it will slow down sales. >> reporter: right now, those buying a new car or truck areyi on average just over $32,000,hich brings up the question, how much more would americans be willing to pay for a particular model if the price suddenly spiked due to a border tax? a couple thousand dollars, $5,000? it's a guessing game the auto industry is hoping it won't have to play. phil lebeau, "nightly business report," chicago. >>> general mills is cutting obs and that's where we begin tonight's markefocus. the maker of cheerios cereal said its going te eliminate m than 600 jobs by next spring as it looks to cut costs while sales of his yurt continue to struggle.

inact, jeep sales surged 29% pushingth, fiat/chrysler's may sales up 11%, better than expected, which was also the caseor ford, while toyota posted a slight decline last mont t as for best-selling vehicle in the country, theck f-series , ford had plenty in stock to grow sales in may, despite a fire at the plant, knockingut f-series predictioduction for ae of weeks last month. overall, 2018 is still on pe to be the fourth straight year with auto sas topping7 million vehicles. fiat/chryslerec exp auto sales to remain strong or the next five years, during which the company plans to double global sales for jeep and expand ram's business in north america. the strong economy is what's driving auto sales right w. it is also convincing consumers they can afford to buy the newm l that they're looking at. in fact, the average auto loan yment for a new vehicle is now at a record high, $523 a month. phil lebeau, "nightly business report," chicago. >>> walmart is embracing change. at the company's shagholder meettoday, the ceo said, change is a key part of his company'strategy. and that transforma

fiat chrysler makes the jeep and says all vehicles exceed safety standards engineers to address realorld driving situations. no single test measures overall safety. >> my advice to people who are shopping for a new vehicle, is that they have got better choic choices. it its the only suv of the eight tested to earn highest overall rating, top safety pick plus. >> both the ford explorer and jeep grand cherokee are older designs. ford tells us it expects its all new 2020 ford explorer to do better in the test when launched next year. iihs expects the redesign jeep grand cherokee will do better grand cherokee will do better when the vehicle make the most of a few minutes with ky natural feeling with aloe vera about the colonial penn program. here to tell you if you're age 50 to 85, and looking to buy life insurance on a fixed budget, remember the three p's. what are the three p's? the three p's of life insurance on a fixed budget are price, price, and price. a price you can afford, a price that can't increase, and a price that fits your budget. i'm 54. alex, what's my price? you can get

you have fiat chrysler which employs a ton of people.ou have a situation where i don't know of the administration has addressed the fact that there would be significant punishment handed down to some u.s. companies in addition to germans that he has taken to task. vonnie: we have had the u.s. late tariffs, the eu has responded on bourbon and motorbikes. what response could we see from the eu in response? as you were mentioning not quite so much demand for u.s. cars coming from europe. >> interestingly there was reporting this week about the german u.s. ambassador talking with the industry. both sides of -- both sides agree to take their tariffs. the term administration would be in favor. it is one that would allow germany to engineer. we would have to bring around the rest of the eu and french automakers are going to necessarily be into that. it would be tough to execute. we will be speaking about this throughout the day from new york. this is bloomberg. vonnie: an exciting segment for you now. cio founder, we will talk opportunities. st

fiat chrysler off significantly in terms of the italian board it is trading on. u.s., coming off of highs, concerns about what that means for the sector. vonnie: wti, a rally, up a most 4% over news of the deal. -- up almost 4% over news of the deal. 290 on the 10 year. -- 2.90 on the 10 year. dollar index has taken a pause. 94.71. movements in other currencies. markets.top as you can see, some european markets, canada with a recovery in equities. australian -- the renminbi -- u.s. dollar is weakening. look at this commodities picture, gold, which has been way off, up a little bit today. it is a friday. caroline: that it is. back to the big story, president trump renewing his threat to impose a 20% tariff on cars coming into the u.s. from the eu. benedict joins us. these are significant moves, particularly for the german automakers. what angela merkel has been worried about. >> you are right. it is just a threat at this point and we do not know whether he will follow through. the escalation of the rhetoric over the last couple of weeks, retaliating what the europ

backed away from that and you heard donald trump talking about how fiat chrysler will move truck production from mexico to michigan but on until 2020. meantime, a lot of automakers are expanding in mexico because it is a low-cost market for them to build. until nafta is torn up, it makes economic sense to build their instead of the u.s. david: thank you. for more on trade and immigration, let's bring in our opinion columnist ramesh ponnuru from washington. let's start with trade and then go to immigration. on trade, the president said, if they do not drop the tariffs, we will impose these, on what authority, national security? the investigation in the department of commerce? >> president trump has been fuzzy on the rationale for his trade moves. out, he isted talking about this as a negotiation. if they move on tariffs, we will not impose them. part of the law his administration has been using, section 232, is a national security-based part of the law and not about what the other countries tariffs are. what our security needs are. that is regarded by most experts as a rationalization. the i

if you look at other automakers like fiat chrysler, gm, these which tesl not.a lot of how concernings that? >> we think of tesla as a technology company. it is built from the ground up as a software company. that's where their competitive advantage lies, and other automakers are still catchin up to get there. are looking for the future. once elon musk is able to turn these vehicles autonomous, the business model changes. it's no longer a one-off sale of a vehicle, it's a recurring revenue model, because they will get revenues from the per mile rates of an uber-like service. those will have really good margins, better margins than the car business. we think that opportunity should be valued at trillions of dollars in the equity mar it is basically not accounted for at all. cash burn will not be a questio. we are really looking ahead to the long-term there. emily: but other tech companies like alphabet have giant piles of cash, and they are also working on cars. tasha:hat'true. on the cal their competitive advantage will really lie in the expertise. we think of tesla as a start up. com

implications for european automakers jpmorgan expects the tariffs to have a moderate negative hit for fiat chryslerless relevant for volkswagen, bmw and daimler. so a bit of an impact there for the auto sector. all of those major european automakers now in positive territory. nbc news' kristen welker has more on this >> reporter: tonight, triggering a trade war. the u.s. announcing harsh taxes on steel and aluminum imports, now the retaliation from some of america's closest allies already under way. mexico vowing to slap fees on american pork, fruit and steel europe threatening tariffs on everything from whisky and motorcycles to denim and cigarettes canada's prime minister promising a dollar-for-dollar response and calling the u.s. move an affront. >> in particular an affront to the thousands of canadians who have fought and died alongside their american brothers in arms. >> reporter: and now, u.s. consumers and businesses bracing for impact. >> it could lead to higher prices on everything from beer to automobiles and that could mean job cuts at some companies. >> reporter: brent bible is a soybea

i think that sounds like something fiat chrysler wanted to rancher its investors that they are in then driverless takes over. caroline: mark, you are mentioning phoenix. talk to us about how the regulatory landscape fits into this? we haven't got a date of when waymo will be making this investment and getting the cars on the road. where do we stand in terms of this becoming a reality? and crews are going back and forth in their announcements. waymo said they are planning to launch their first commercial service in arizona outside of phoenix. they haven't given a date. i imagine the summer is so hot there, they have talked about testing without a driver in the front seat in the second city later this year. most likely to be either in california, texas, or washington, based on where they have the most robust tests right now. david, give us a sense of what detroit is talking about, particularly the car owners. i remember speaking to ford, and he said the fight is on for whoever joins the data -- owns the data. they don't want to see it lost to the tech companies. do they feel they have a

fiat-chrysler. 80% of their operating profits from jeep and the ram truck.: ford getting out of the car business. they only are going to be producing trucks. that's so amazing to me. >> i hope they are not out of cycle. if we see gas prices, we'll be out of sync again with what the consumer wants versus what the auto industry wants to provide. ed the auto industry made tremendous progress in safety in the automobiles. mary power raised the bar for vicinity at gm. i think we are seeing more technology migrate into the car. lane control with safety devices for if you look at collisions, close collisions. so i'm pleads with what they are doing there. fuel efficiencies, whether the cafe standards gets rolled back. a lot of hybrid cashe -- cars we you have a combination of gas and electric. i think it industry has a bright future. leaders of those counsel come police focused on markets and consumers right now. maria: will the leaders of tomorrow be the same leaders of today in terms of the auto business or will we see these, apple, google become car companies? >>

look at shares of gm, fiat-chrysler, and toyota.e reached out to auto makers today, and they play how they play trade tensions with mexico. not say iing a peep they don't want to alienate someone in the trump administration it's easier for them until something is dpecided to say nothing at all >> but is this still an important issue for the american auto makers? >> sure. absolutely it's a huge issue. if you have to change your base of operation because all of the sudden these half million vehicles you import from canada now have a 25% tariff, that is -- could be cataclysmic for some auto makers, so that's why they are very worried about this, but they are not saying anything because they've seen what happens here. president trump will tweet, if they say something, they are caught in the cross hairs. >> right i mean, do you think that message needs to get across to the administration saying, hey, hey -- >> they conveyed and advanced that message repeatedly in meetings and through the trade organizations in washington, and they did no

in terms of overall for ford and fiat chrysler, we reached out and said, what are your comments about these crash-tests? they say, look, our vehicles have received good, the best possible on other crash-tests, particular these suvs have done well in other crash tests therefore, they say, look, these are safe vehicles.this one partn incomplete picture in terms of those vehicles that did the best, and we're looking at midsized suv, the kia sorenta, voelgsst voellkswagen c acadia. >> were these straight head-on tests as opposed to ones that clip you a third of the way across the front >> correct if you look, there is the front passenger corner of the vehicle, what's called an overlap collision at 40 miles an hour. one of the most common collisions out there but, as i mentioned, both fiat chrysler and ford said, look, if you look at the other head-on collisions or roof strength collision tests, we get a good rating this one test should not be indicative of either the grand jeer i c cherokee or ford explorer. >> the fortnight taking the gaming world by stm.or ♪ that's confident. but it's n

big news for self driving as fiat chrysler is set to add more than 60,000 cars to alphabet's autonomousving waymo listen to uber ceo and gm president on our air yesterday talking about autonomy. >> automation hasn't come to the freight brokerage business what we do at uber is match supply and demand in an incredibly efficient way the freight brokerage business if you take that forward to the age of automation, you get to an interesting business. >> we believe it will have a huge, positive impact on the world, safety, affordability of transportation and we think that as a result of that, this is a really immense opportunity and we're fully aligned around that. and so what we're doing today is all about setting ourselves up to be in the best possible position to capitalize on that opportunit opportunity. >> all kinds of interesting questions out of this, not the least of which are we on track for these so-called deadlines and does it justify other companies not mentioned here like tesla, lyft and some others. >> i think that's right. autonomous driving will become mainstream over the next

"waymo" and fiat chrysler are in talks to expand a partnership to possibly sell chrysler's with driverless technology to consumers. >>> walmart shoppers will soon be able to text message to order items for home delivery. it's a feature in a new $50 a month membership walmart is unveiling. it will off same day and next day delivery as no extra charge trying to attract higher income shoppers and step up competition against amazon. >> that seems dangerous for me. if it's coenient to shop, i would spend more. >> reporter: got to be careful. >> this is one of might have favorite days, diane, because it is national donut day. love donuts. >> right? >> yeah! we love donuts here. any big deals being offered to mark the occasion? >> reporter: all right. so krispy kreme is offering a free donut no strings attached, no other purchase required. i would say wait until the hot light is on. dunkin' donuts is offering a free classic donut when you buy a drink. burger king is even getting in on the act. [ it's cutting a hole out of its whopper and calling it a plane grilled donut. >> what? >> that's a litt

although smart money if you wanted to invest in auto stocks havert butould haven we don't been fca, fiat chryslery almost doubled their value over the course of the past year. ashley: not bad and impressive numbers for gmver the last year jeff flock thank you very much nice yellow car behind him. very cool. let's take a look at the markets for you as we mentioned the dow still up about 20 points but try to at least fight back to the flatline if you like the s&p up just a fraction of the nasdac also up half a percent at 76.92 with about half an hour to go before the end of the trading day. and historic summit with north korea is in the books as es trump declares a new chapter thewo nations, but is he too quick to jump on the victory train? well, coming up next a north korea expert for nearly two decades of experience under his belt will tell us if he believes kim jong-un will actually live up to his promises coming up next on the "countdown." baby boomers, here's something you should know. there's a serious virus out there that 1 in 30 boomers has, yet most don't even know it. a virus that's been

shares of fiat chrysler are tapping the brakes at this hour. shares are tumbling despite ceo sergio marchionne reassuring investors that the automaker has no plans to kill off the chrysler brand in the u.s. market. he says, no, that's not true, we have no plans to do that. in fact, he pledged to cut costs, pay a dividend and double profit by 2022. but his five-year plan also includes an investment in electric cars and a u.s. finance unit. looking at shares though, right now investors believe the rumor and not the ceo. down 7%. so they're hitting the sell button on the stock. some do worry that marchionne's successor may not be able to hold onto those promises but also keep up with increased spending. it is the jobs report that began driving all the upside action on wall street, so we've got to give it credit. as we told you, the u.s. labor market was firing on all cylinders in may, the economy adding 223,000 jobs, way outpacing the estimates of 188,000 with the unemployment rate falling to an 18-year low of 3.8%. but digging deeper, he's some o

anyway because ford, gm and fiat chrysler are already there. that's a sideshow. real issue is the demolition derby that trump is touching off with trade war on china. in one breath he said 50 billion of tariffs, which is beyond anything we've seen before anyway, and then when they countered, which is obviously what they're going to do, he said, we'll see your 50, another 200, and in kind of clint eastwood fashion, he dared them to make his day, he would do another 200. melissa: and shortly after that, germany dropped all tariffs on automobiles. >> what does it have to do? melissa: i'll tell you. critics said what would be a more effective way to get your point across is if you had one on one bilateral trade deal with anyone and everything where you both dropped tariffs, and once you established that base point, you invite everybody else to join you. he turned and did that, now you say it's worthless? >> irrelevant. melissa: really? >> germany has a 40 billion surplus with the u.s., they're not going to buy -- melissa: that was the exact advice he got. >> let me f

stuart: now we have autoweek, they report that fiat chrysler could kill off the chrysler brand as earlyy. liz, first of all, what's this all about? elizabeth: well, it's about getting rid of small cars. people want bigger trucks and suvs. that's what people are buying. >> i think it's a consumer brand-driven decision. stuart: really? it surprises me getting rid of cars. >> also chrysler has not rolled out a new model in ten years. their best luxury call which was the chrysler 300 is over a decade old now. so they haven't, they haven't brought anything on line, so it only makes sense that he spins them off. ashley: on the other side of the coin, you've got to look at ford and those f series trucks which have been their, you know, cash cows. in the month just gone by, in the month of may 2018, it was up 11%, that's the best may ford has had for the these trucks since 2000, that's 18 years. so no matter what you say, people continue to love to ride high on those big f series trucks just like our own stuart varney. stuart: where does this leave me? i own and drive a ford f-150, i also own a

fiat chrysler which makeshe grand cherokee say all of their vehicles meet or exceed federal ndfety standardsle test measures overall vehicle safety. back to you. >> i'm glad i didn't hear mine. >> i didn't hear mine. l >> but justve it there. >> sigh of relief. >> it's election day in virginia, the races to watch and why voters aret telling us t they needed to come out to the polls today. >>> and a live look overhe district right now. a great day out there, sunny, gorgeous, but will it hold and ow long? the early forecast as you make your plans for father's day. >>> and we're still celebrating our stanley cup champs. we're coming back with live team coverage. news 4 gets inside access to the caps and ovie's most memorable moments. woman: it felt great not having hepatitis c. it's like a load off my shoulders. i was just excited for it to be over. harvoni is a revolutionary treatment e most common type of chronic hepatitis c. it's been prescribed to more than a quarter million people and is proven to cure up to 99% of patients who eave had no prior trent with 12 weeks. certain patients can be

i'm going to turnaround and buy a fiat chrysler jeep. what about that i'm going to substitute a u.s. car for what was going to be a foreign car purchase? >> well this is where it all gets jumbled up because the most american car being sold right now is the toyota camry. it's a japanese car, right? but most of its parts everything is made in the united states in georgetown, kentucky. liz: we don't want to hurt the partsmakers. right and the workers in america on the line. the production line making these cars, so there are a lot of inconvenient facts to the arguments that come out of the administration. liz: when we look at whose been applying for exemptions we've just put some of this on the screen. thousands and thousands have been put out there where companies are saying exempt us, we want to be exempt from these tariffs and so only 42 have been approved only 98 processed out of the thousand this is a slow process. >> yeah and you can also see if you read between the lines and pay attention to what's coming out of the white house and j

fiat chrysler is an interesting one that has been on a little bit of a roller coaster recently after latest ugly sales numbers. what caught -- latest monthly sales numbers. what caught your attention? >> they outperformed in the year to date, or however you want to look at it. gm is chasing all-time highs, while fiat has been meandering lower. so, what happens if oil prices go up and people fall out of love with the suv? what if the dollar appreciates versus the euro, or volatility declines in europe. all of that would benefit if you sold some calls for fiat. julie: interesting, especially because the company said it is pulling the actual fiat cars out of the u.s. and is doubling down on jeep production. that goes to the suv thesis you're talking about. or at least protection. so -- comes and you want to sell premium, in general, the fix is low. brought hedges, it is cheaper to buy then to sell. -- called alling hedge. we would be reaping $.85. uptick in either an the doctor versus -- in the dollar versus the euro, or if the stock meanders, you get paid, or else your risk is cap. hav

in fact fiat chrysler down 4 1/2%. it is very complicated industry, trish, the world auto industry.u do one thing, maybe you get unintended consequences. >> thank you very. , jeff. daimler's warning coming as europe gets ready for retaliatory tariffs against the u.s. beginning tomorrow the eu will charge import duties of 25% on range of u.s. products. things like bourbon, something the europeans could probably do without, and harley-davidson motorcycles. where do we go from here? james freeman, "wall street journal," and good to see both you guys. james i want to point out, a lot of german automakers perhaps concerned about the hit to earnings, they are advocating for a zero percent tariff both ways. this might be one where business is able to help influence policy a little bit because it is meaningful for their bottom line. i don't think it is all bad if we actually get to a place ideally we're in a 0% tariff world. your thoughts? >> that is the best news wee seen since i don't know if we call it a trade war, this trade dispute began. like most investstores telling us with stock de

he is martian net -- unveiling his final strategic roadmap for fiat chrysler after 14 years in chargedisney is trying to break a logjam in contract talks with its union. to $15 aning the wage hour in the next three years, 836% increase. union officials have not responded. that is your bloomberg business flash. david: the u.s. fired the first shot in what could turned out -- in what could turn out to be a trade war and it is aimed at its allies. >> let me be clear. these tariffs are totally unacceptable. been50 years, canada has the u.s.'s most steadfast ally. do, will bethey encountered with a similar weighted action from mexico. mexico will keep on at the openiating table in an dialogue to try to reach a solution. >> if we were to liberalize to thethe g7, services same degree that we had liberalized goods, these imbalances would be cut in half for the u.s. for the u.k. as well. >> it no longer appears to be america first. -- it appearsme to be america alone. deal orit is the iran trade. it is not healthy for the western world. >> we are now heading into the an off-againf on-again pos

the takeover of fiat chrysler. the spokesperson for -- called it groundless.- only after finishing its program this year. run, a largeonster part of it is supply outages and worries that iran will lose oil buyers as the u.s. takes a harder line on the country. it has also been an amazing quarter for crude. , andng us is tom petrie s isel wellso of janu still with us. the rally we've seen in crude, is it still sustainable? that at somes point it will spiral upward into too much, but i don't think that will be this year. it is sustainable right now because we have a variety of talents. libya, where there is a civil war between the east and west. that is control of oil in libya. .hen iran venezuela is still in a meltdown. we have a tight inventory situation. opec has not come forth with as much of what will probably be needed to keep prices somewhat under control. alix: you mentioned, they might pump a record in july. reports indicate it could be 10.08 million barrels per day, but it rests on how much reduction iran is going to lose. we see the u.s. pressuring al

i take it, chrysler fiat, doing same thing as ford, because you can't make money on a small car, is thatly it. they killed the dodge dart and chrysler 200 a couple years ago. had no problem eliminating the lineups after four years on the market. fiat 500, i think they sold 250 of them in the united states. something like that. ram, jeep and then high-end brands, maserati and alfa romeo account for 80%f their volume and 80% of their money. no reason to invest the cars. they will keep chrysler and dodge around. if you walk into a dodge dealership, every vehicle there is 10 years old or older. that is how long those platforms have been in production. stuart: you mean the type of vehicles? >> types of vehicles. dodge challenger. stuart: they can't make much money if any on a very small call but now they're allowed to get rid of very small cars because they don't have to conform to corporate average fuel economy gas mileage standards. they can drop small cars, because they don't have to worry about the average gas mileage for the feet. they're making a wholesale shift towards offering hybrids

fiat chrysler makes the jeep and says all its vehicles meet or exceed federal safety standards and areto address real-world driving situations. no single test measures overall vehicle safety. >> my advice to people shopping for a new vehicle is they've got better choices. >> reporter: the 2019 kia sorento scored good after it was redesigned to better protect passengers. it was the only vehicle of the eight tested to earn the highest rating, top safety pick-plus. both the ford explorer and jeep grand cherokee are older designs. ford tells us it expects its all-new 2020 ford explorer to do better in the test next year. iihs expects the redesigned jeep grand cherokee will also do better when the vehicle launches. norah? >> important information. thank you very much. >>> heart transplant deaths lead to an investigation at a houston hospital that helped pioneer the procedure. ahead, what some patients' families and doctors say has gone wrong at baylor st. luke's. >>> and we invite you to subscribe to our podcast. you'll get the news of the day, extended interviews, and podcast originals. fi

reported an increase of 0.7% last month in sales with an expectation of a decline of 1.9% from fiat chryslererall sales up 11%, and the expectation was for an increase of 8.9% toyota last month saw decline in sales of 1.3%. that was weaker than the estimate of a decline of 0.6%. >>> there's the president with the gentleman i presume from north korea who came holing a personal left from kim jong un for the president regarding the possible summit. >> june 12th, we'll be in singapore, a beginning, never happens in one meeting, talking about yeahs of hostility, years of problems. >> we added well more than 218 points today that puts us at 24634 for the blue chips >>> and investors are keeping an eye on biotech stocks ahead of the world's largest cancer research conference this week. here's a preview >> reporter: chicago eais the place to be this weekend in getting up to date on treating cancer doctors, researchers, executives, and analysts, and investors are the meetings hear major updates from merck and more particularly in the closely watched eed arena of immune drus used to fight cancer stock

gm, ford, fiat chrysler. the remaining 9 1/2 million made by foreign automakers, but many of those made in this country, which is kind of interesting, and i give a shoutout to toyota, talk about cars made here. toyota makes nine different models here in the u.s. already, this is long before anything, and i tell you to a man and woman in the u.s. auto industry, they're all worried about a trade war that could harm this interrelatedness of the world auto industry, which is important to everybody, and they point out here at volvo, a tariff is a tax. it gets passed on. they would like to have no tariffs on anything, and then people would have cheaper cars. >> you are right. you and i pay that. governments don't pay, it volvo is not paying it. we do. reporter: exactly. neil: all right, you're the best, buddy. reporter: these guys would be for not paying it. neil: i appreciate that. jeff flock. just a reminder, we get the government is going to do this, whatever the justification for it, ultimately, you and i pay.

the next guest is morning higher oil prices could hurt the economy, automakers forward and fiat chryslerey will get away from small cars going towards suvs and trucks. how is that a problem for america? why is that bad for america? >> it is a bet on the price of gasoline. history has shown is when gasoline gets $3 a gallon people start shifting back to smaller vehicles. it doesn't mean they will go down to a sonic or something but they could go to a camry or a focus or something of that nature and by taking those vehicles off the street and general motors is doing the same over the next three years they are leaving themselves no option as the price of gasoline goes down. the japanese are. if the price of gasoline gets up and there is good reason it could, leaving the market to the koreans and the japanese. stuart: that is a very limited impact on the ove american economy surely. >> if all of a sudden they can't sell a couple million vehicles a day, a year, that they used to sell that is quite a few jobs and it ripples done in terms of r&d and so forth. we have gone to a lot of trouble to

my numbers are 7.6 million sold -- made by the typical detroit three, fiat chrysler we count as welly as well as gm and ford. the rest, almost 10 million, foreign cars, your kind of cars. that's good for you. >it's good.>> it's good for us. >> reporter: what do you see in terms of the future? i know already the future is 4,000 employees here, two vehicles. could there be more? >> yeah, i would say, first of all, that is a decision we need to probably take in one way or another. but we are -- right now we have growth of 41% in the u.s. we don't look at our competitors so much. we do our thing and we are very, very strong and our product portfolio is brand-new. we have the youngest product portfolio of all car manufacturers in the world. that's strong. >> reporter: maria, a a happy mn today even though he lives in the u.s., i don't know how happy that makes him. >> very, very happy. >> maria: thank you, jeff. we appreciate it. we will see you soon. coming up, the clock is ticking, today marks devin nunes' deadline for key documents from the doj and fbi on the investigation into the tru

getting breaking news out of fear chrysler, their chief executive saying they will have a next cash position at the end of june. they have really steered the merger between fiatnd chrysler and are now trying to figure out the next step. let's go back to europe, to the risk out there. joining us for the hour, jane foley and alberto. thank you both for joining us. looking at trade, spain, italy. what is the biggest risk for currency markets. i think it is trade. clearly, italy is all about the budget but trade is a global issue. there are ramifications for world growth, not just for this year or the next year, but the long-term. i think there is an interesting angle here, germany versus the rest of the eu. if you look at the u.s. treasury, their report that points out some of those currency manipulators, they were pinpointing germany and looking at its services, advising in germany to do something to increase domestic demand. trump has an issue with all countries that run a trade surpluses. that's germany, not france. this issue about tariffs being slapped on the eu, it creates an issue. is the rest of europe going to turn on germany? it is quite interesting to