from new york, i'm vonnie quinn. guy: and from london, i'm guy johnson. welcome to "bloomberg markets." vonnie: we begin with rigging economic data as if we did not have enough to talk about after the rate cut. manufacturing coming slightly shy of expectations. economistsnumber and were looking for 52 in july. 45.1 as opposed to the 49 expected and new orders are above 50 coming in at 50.8. 52.2 for the ism. where same to s&p 500 higher, but below 3000 after yesterday's rate cut. market suggesting that rate cut and the q&a with the federal reserve chair. the spread is bent down below 15 basis points. the front end of the curve is moving quite substantially. we will talk about that in a few moments. a couple of thoughts on the move poster earnings. snacks are% because making a comeback, offsetting weakness and cereals. western digital up 6%. ceo -- digital's guy: european stocks going nowhere. we are seeing a bit of a drag. the pound is down and the bank of england will not factor in a no deal brexit. they are going to wait for the government to do that. t

vonnie: live from new york, i'm vonnie quinn. vonnie: i'm vonnie quinn.live from london, i'm guy johnson. regaining theden lead for the presidential nomination for the democratic party. he has 29% of the registered voter in the polls. that is up seven percentage points from june. bernie sanders is next at 15% and elizabeth warren at 14%. greenland is reiterating it is not for sale. at a meeting with iceland and the nordic government leaders, they say president trumps idea of buying the danish territory is not something to joke about. called absurd.rs south korea strengthens economic ties with china. they plan to speed up free trade talks with china in the investment sectors, coming at a china -- wall street is overhauling the volcker rule today in response to complaints about the compliance demands. you leaders trying to simplifying the ban that prevents banks from making short-term investments with their own capital. global news 24 hours a day, online and at tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.om london, i'm guy johnson. this is "bloomberg markets." big market reaction this afternoon. we will get a phone call taking place, a delay to the tariffs, which is pretty significant, and we've already walked through some of the stock market reaction. but i just wonder whether the market should be getting ahead of itself here. i thinkident's tweet really nails how the president is on a hair trigger on some of these issues. he talks about the fact that the chinese talked about buying big from great american farmers, and then didn't, and maybe this time is different. that is a huge challenge to the chinese, isn't it? soybeans are trading higher. nevertheless, the president is laying out the parameters here pretty clearly. vonnie: and if you look at corn as well, it had been down big, it also spiked on this. it is still down 2.1%, but nevertheless, it is clear that market for dissidents believe this might be some kind of de-escalation or softening, even as the president continues to comp

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.: from london, i'm guy johnson. this is "bloomberg markets." for an update on those markets, let's go to emma chandra. emma: we are looking at a bit of a mixed picture for global stocks. the hang seng closing and the red, the s&p 500 opening in the green. looking into a second days of gains. this suggested the labor market is still strong. also a number of earnings from retailers in the relapse -- in the u.s. once again thomas adjusting the engine of the u.s. economy -- once again, suggesting the engine of the u.s. economy is still running. the ftse is falling, down 1%. that could be a reaction to the spike we are seeing in the pound. this is as prime minister boris met with president macron in france and german chancellor merkel, and it is looking like there may be some optimism about the possibility of a brexit deal. i also mention some of those retailers earlier in the u.s. doing pretty well. popping. to get early today up some 13% come out with its earnings after the market closed

vonnie: in new york, i'm vonnie quinn. this is "bloomberg markets."trol up once again after two mass shootings and a 24 hour span this weekend. republicans are raising alarms that their opposition to firearm restrictions makes the party toxic to suburban women and college-educated voters in the 2020 election. for more, we are joined by bloomberg reporter anna edgerton in d.c. it is all transactional, so will this new idea that they might be alienating some important voters mean that we will get some gun legislation this year? anna: it is very possible, but that is always the question. will this time be different? it is hard to say whether these shootings will have any different impact than the sandy hook shooting for the shooting at parkland or any of the other tragedies over the past few years in the united states. the president stood up and unequivocally denounced the shooter and condemned this tragedy, and even called for legislation when it comes to red flag loss. that is a proposal that came after the parkland shooting when there were concerns ra

vonnie: in new york, i'm vonnie quinn. this is "bloomberg markets." for your latest bloomberg business flash. some of the biggest names in tech are in washington to voice their support for possible tariffs on france. amazon, facebook, and alphabet have been vocal critics of a proposed 3% tax on french digital services. if president trump fires back, -- fires back, proposed tariffs could hit french wines. elon musk tweeted, "it's having a money printer on your roof." that is your latest bloomberg business flash. guy: a quick look at the markets. equities getting a bid today, but it is unlike volume. the volume of the states is better than in europe, but .evertheless, it is middle bips.s. ten-year by four crude catching a bid as well. we will talk about that a little later on. this is bloomberg. ♪ from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay

this is bloomberg. ♪ ♪ vonnie: live from new york, this is vonnie quinn -- i'm vonnie quinn.mberg markets." blackstone offering to buy out the remaining shares of toga energy -- of total grass , trying to privatize the slumping energy companies they control. joining us is the oil and gas reporter for bloomberg out of houston. does this come as a surprise to investors? it is not the first of these kind of deals we have seen. the idea was always that blackstone would come in at some point and take out the rest of the units it didn't already own. it took stake of the general partner earlier this year. but the timing seems to have cut some investors buy supplies. elines arelgrass' pip up for renewal this year, so the thought was they would wait on those and then sighed whether or not to pull the trigger. vonnie: they are offering a 30% premium for all outstanding class a shares. how is that viewed by the community? rachel: i think it is a bit of a tossup right now because units have fallen 40% since the deal closed in march, but some of these other deals have gotten quite a bit o

they are appointing know what quinn as -- appointing noah quinn. a buyback of up to $1 billion of shares. we will bring you more throughout the morning. europe's busiest airport has avoided a disruptive strike at least temporarily. union leaders have agreed to talk with mediators over a pay dispute. security, firefighters and engineers planned to walk out sunday with 170 flights already canceled. they rejected an offer of 7% over 2.5 years. 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. wang.elina this is bloomberg. let's check on what we can expect on the markets as we begin a new trading week as we saw the u.s. close pretty much in the red on friday, not expecting great things, nikkei futures flat in sydney, new zealand off .3%. by kospi futures are weaker .23%. -- .6%. let's get more on what we should be watching as trading gets underway in asia with asia across assets editor. looks like a rocky start to the week. we have trade tensions ramping up the bank

quinn, for hosting this. quinn, who is become a friend. and person that of great wisdom. he said that i comment on politics and newspapers, magazine, radio, po podcast, he left out in my sleep as well. you come around my house at 3:30. when our the kids were little, i would read to them get tired and doze off, you talk. in our half sleep, my kids would tell me what i would say when i would doze off, i would make political comments. i don't know if they were coherent. thank you for hosting this, sherri, a former colleague, we were in i think tank that started on camp. i was policy director, we hired people. there were a lot of people that applied, bright people. i was involved in hiring two, one of paul ryan, and sherri was the other. i am one of those people whose legacy is hiring people who are smarter than i am and do better things than i do. i encourage you to visit the trinity web site. it is nice to find ones worthy of trust. and trinity forum is one of them, that is largely because of sherri it is nice to return to national presbyterian church, it was home for many

from new york, i'm vonnie quinn. this is "bloomberg markets." let's see what we've got on the final reading. current conditions were a little lower than the previous month. expectations dropped substantially, 79.9 now. the inflation readings were as they were the previous month, 2.7 on one year and 2.6 on five to 10 years. fromverall consumer data university of michigan, 89.8. not seeing any reaction from that particular piece of data, but the s&p 500 is up 4/10 of 1%. up fororget, almost 4% the month of august on the s&p 500, even with all the turmoil and volatility. yields down as well, although we are up a little bit today at 1.52% on the 10 year. . the dollar index continue to strengthen gradually. several sessions now of strengthening. to best performing in the s&p 500 right now is campbell's soup after beating on sales. dell also performing extraordinarily well. some lower stocks as well. ulta beauty down to 5% in the session. in's look at europe -- 25% the session. let's look at europe. the worst performer yesterday, best performer today,

at this point i'd like to briefly introduce quinn fox, the reverend quinn fox who is associate pastor you're at national presbyterian. i've known quinn for a number of years and he is a very gifted theologian and pastor and teacher. he began his ministry early on at wentworth university and austin. theological seminary, previous refinements work associate pastor at first presbyterian church in colorado springs and then in the office of chief theology and worship at the national office of the presbyterian church usa. doctor fox holds an undergraduate degree from , in history from colorado college, holds an mdiv and ma from for their theological seminary and carolina, thm from princeton theological seminary and a phd in historical theology vanderbilt university. i don't know if there are enough alphabets in every bowl to fill out all those marvelous degrees and accomplishments but he deserves that recognition. quinn is a member of the board of the reformed institute, he finds great joy in teaching and serving parish life and he talked for 15 years as an adjunct professor at fuller semin

live from new york, i'm vonnie quinn. this is bloomberg. ♪ ♪ york, i'mve from new vonnie quinn.don, i'm guy johnson. this is "bloomberg markets." vonnie: it's time now for the muni moment. with a focus on the twos-tens spread, we take a look at how that is affecting the current. taylor riggs has more. of federatedllo investors is here. what does this mean for the twos-tens? rj: right now you have an inversion in the muniz curve -- in the munis curve. inversions relative to financing. twos-tens not inverted, and it has never inverted historically. traditionally the muni curve is sloping because of the tax risk in the long run. we don't tend to see muni inversion. bonds hasarket in undeniably affected all high-quality instruments. munis are having an incredible year. the flattening of the curve means being neutral long-duration and owning fixed income has been a real win. taylor: sorry for cutting you off. i'm just excited about getting to talk munis on tv, so stick with me here. given the global bond rally we are seeing, how do munis looked relative to treasuries, rich or cheap i

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.: in london, i'm guy johnson. this is "bloomberg markets." here with a market check is emma chandra. emma: we've been lower, then higher, than lower, then higher again. of 1%. 500 up some 5/10 conflicting headlines from both china and the u.s. today with regards to trade. the latest salvo from president trump being that any trade deal must be on u.s. terms. nevertheless, we have the bond market sticking to its narrative. biggest illustration of these swings in the market is the stoxx 600. we have a chart which shows us exactly how the market has moved around, really swinging between gains and losses today. risk assets on a wild ride. this broader move perhaps overshadowing some of the earnings stories, particularly with walmart in the u.s., alibaba in china. , sayingrising some 5% the consumer is not affected by tariffs at the moment. also saying they are using scale to keep prices low. alibaba doing well, a big sales beat seeming to be unaffected by the slowdown. cisco is being affect

this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn.: from london, i'm guy johnson. this is "bloomberg markets." check on a where this market are globally. here with the details, emma chandra. emma: the places to look on where the pieces of the market puzzle have changed over the last one to four hours, the fed, u.s. jobs data, and tariffs. it appears that escalation in the trade war is having the biggest impact. the hang seng closed earlier, down 2.3% in the red. you mentioned european markets at session lows. the stoxx 600 down 2.3%. the s&p 500 looking to move towards a 1% fall. today the s&p 500 is headed for its fifth consecutive down day come on pace for its worst week since the december selloff. meanwhile, the vix, the measure of volatility headed for one of its longest stretches of gains since october of last year. that is really reflected in bonds, highlighting the german bunds here today. we saw for the first time the full year -- the full yield curve fell into negative territory. the 10 and the 30 year yield falling to all-ti

from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. ."is is "bloomberg markets vonnie: stocks are down. the 10 year yield just moved there. the yen makes a bid into safety. the mexican peso is weaker by 1.25%, partially because in argentina, we saw a shock vote, which means the politics are more likely to come back into focus now as the electorate goes to the polls in october. the argentinian peso is weaker 27%. bonds also seeing it. we will be talking about this story in more depth in just a few moments. guy: european stocks started a day of positive territory, but have subsequently rolled over. that happened mid morning, and now we are moving along the bottom. volumes ok, not great. the stoxx 600 is down by 1/10 of 1%. banks and airlines are down. the hong kong story front and center. that seems to be the pivotal factor for european and asian markets as people fear what could happen in hong kong. the italian 10 year yield got a little bit of a respite friday. we still have the political story rumbling along. as a result of which, yields

from new york, i'm vonnie quinn. this is "bloomberg markets." breaking news on housing. pending home sales month over month, we are getting down 2.5%. once again, pending home sales, contracts not yet signed, month over month down 2.5%. a little soft. we got gdp data and a host of earnings overnight, and we got a comment on china that's turned the markets a little bit more positive in tone and the s&p 500 is up 1.2%. the nasdaq up 1.5%. we had companies coming out and expressing concern. best buy saying chinese goods will drop from 60% to 40% of their industry, sending them down 8% for the worst performance in the s&p 500 right now. saying ite and fitch weighed heavily on their quarter, down 13%. a little selling in the treasury market today. we will be talking about all that in just a moment. in europe, one of the bigger stories today, italy. prime minister conte has accepted the mandate from the president to come up with a government, sending the ftse mib up to the best performance in europe. it is up in europe as well, potentially on china comments. the italy 10 year

everyone brought together by word of mouth and a will to help quinn get better.all these people that we believe is -- has gotten him through his sickness. you can never repay. just maybe pay it forward, you know? >> reporter: being indebted has never felt so fortunate. ♪ come on without come on within ♪ ♪ you've never seen anything like the mighty quinn ♪ >> reporter: steve hartman, "on the road" in waymouth, massachusetts. >>> and that is the "overnight news" for this monday. for some of you, the news with uas. little later for the "morning news" and "cbs this morning." from the broadcast center in new rk city, i'm mark strassmann. captioning funded by cbs >>> it's monday, august 26th, 2019. this is the "cbs morning news." >>> mixed messages. at the g7 summit president trump appears to take a softer tone in the trade war with china only to have his press secretary say he was misinterpreted. what the president is saying this morning. >> very big things are happening with china. >>> tropical storm dorian expected to strengthen in the caribbean, where it could make

vonnie: i'm vonnie quinn in new york. amazon is trading unchanged.arned fedex will not renew a ground delivery deal with the tech giant when the deal expires at the end of the month. turning us is tom black from bloomberg news. what does this mean in the --ediate term >> it will also broaden its reach into the e-commerce space. as an accurate way to betray this? >> that is right. they decided amazon is a competitive. they are building on a network that copies what fedex has. they're going to turn to more traditional retailers that also are competing with retailers. we are the carrier that will work with you. we are the anti-amazon carrier. vonnie: what is better in this having twoe consumer companies going to head. or having them work together to get everything faster to the consumer? >> clearly the consumer is benefiting. the time for the liberties -- for deliveries are ratcheting up. we have gone from two delivery to one-day -- from two day delivery to one-day delivery. everyone is gearing up for that. amanda: what is it leave in the short term the

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.: from london, i'm guy johnson. this is the european close on "bloomberg markets." let's catch up with the bloomberg first word news. here's courtney donohoe. courtney: last month's retail sales had its biggest gain since march, excluding food services, gas, cars, and building materials. sales rose one full percentage point. one reason, search and online shopping. multiple reports that former colorado governor john hickenlooper will drop out of the race for the democratic presidential nomination. instead, he may run for the u.s. senate for his home state. hickenlooper is unlikely to qualify for the next democratic debate. in gibraltar, a judge has agreed to release a tanker sees last month for allegedly -- tanker seized last month for allegedly carrying iranian oil, which would violate u.s. sanctions. moscow, a russian airline pilot narrowly avoided disaster today. he landed an airbus plane in a cornfield. flock of struck a seagulls shortly after takeoff. everyone on board survived. ab

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets."'s check those markets now with emma chandra in london. emma: the s&p 500 up 8/10. the dow jones joining the s&p 500 in positive territory this afterg, up 5/10 of 1% that big reversal for the s&p 500 from negative to positive territory yesterday. europe also looking good, the stoxx 600 heading for its best day in some four weeks. china fixing the yuan at a stronger-than-expected level. theite the evidence of reemergence of risk appetite, traders remain a little jumpy. other asset also getting a bit of help today. take a look at the bond market. this came from the german government, reports from reuters they are considering issuing new debt to finance green bonds. we are also hearing that they don't plan to abandon their plans for a balanced budget. nevertheless, look at the german ten-year, reversing and snapping a nine-day losing streak. for oil markets, the knight in shining armor was the saudis saying they are not going to countenance any further declines and are looking at ways to

from new york, i'm vonnie quinn. this is "bloomberg markets." we are getting some consumer confidence data from the conference board, is the august data. we are getting a more positive reading, 1.35 -- more positive reading, 135.1. we are coming down, but not as fast as economists anticipated. the richmond fed manufacturing index has come in positive. we are getting a plus one reading, so that should console come of the people out there looking for worse economic data. let's have a look at u.s. markets and how they are performing today. the dow is up for 10th of 1%, the s&p up half of 1%, and the nasdaq up 6/10 of 1%. of to a good start on this tuesday. negative atead is 1.51%. apparently phillip morris and ultra are going to try to get back together -- and altria are going to try to get back together. phillip morris is down. europe, a nice bounce with the stoxx 600 up 6/10 of 1%. the ftse maybe the best ib themer -- the ftse m best performer for individual indices. weaker by 6/10nd of 1%. in a bloomberg opinion piece today, former new york fed

he's goose. >> his mom says two points for quinn. he's like, make that three, lady.soon as she saw the baby go down, she ran over and he wase s the pit down and laughing and having a good time. >>> to this video where this dude learns his place in the world, too. he walks right out into something. do you know what that something is? >> no. >> you're going to learn today. >> matthew, are you okay? >> no. how? there was a huge spider. >> oh, that's a spider? >> wow. >> he's down under the stairs and he's like it's a spider. >> no. >> sorry, sir. it just wasn't your day. >> that spider web was really nasty. >> when there's smoke, which you see right here, there's fire. right there you see a fire has been stted. they believe an arsonist, this hedge that was set a fire, was 25 feet long, 6 feet deep and 10 to 12 feet high. that fire starts ticking up. that family inside the home, they're asleep. even though the family is asleep, this is a story about neighbors coming to the rescue to help out. their neighbors saw what was going on and they come running out of house. they

from new york's, i'm buddy quinn. guy: from -- from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." vonnie: month over month existing home sales grew 2.5%, as expected. the previous month's number was revised better. still negative, though, for june. checking u.s. markets, we have a nice bounce in the s&p 500 today, thanks mainly to target and lowe's. they are pushing the s&p up 9/10 of 1%. we do have some negative stocks. aflac is the worst performer right now, having sold improper policies in japan. the 10 year yield, 1.57%. the 2-10 spread is around four basis points. at 10:30, weories have crude oil up 1.1%, above $56 a barrel. guy: european equities look a lot rosier today. i keep reinforcing this point, we are very much feeling like we are in august now. volumes are anemic. you take that with a pinch of salt. 10 year yields, we are watching that. watching the 30 year as well. anemican auction as well. in the italian 10 year yield, gains for btp's today. looks like president mattarella is going to maybe form an alt

vonnie: from new york, i'm vonnie quinn.r falling sales growth is jason investors away after just reminds as a public company -- is chasing investors away after just months as a public company. abigial:. 14%,ues not as strong, up falling in the wrong direction. up 60% from a year ago. investors not liking that. it has to do with that ridesharing business. 72%.er eats grew that is a bright spot. what happened relative to these numbers, it could be a one-time issue, items related to the ipo. if we go to the bloomberg and take a look at the chart, analysts think it could help explain why even after the disappointing quarter, the gap between the 12 month price target and the actual share price is roughly the same, even though we have this huge drop in price, as you can see on the bottom. investors and analysts seem hopeful they can turn it around. it is a young company. these were one-time charges. kevin: what is going on with lyft which just reported a good quarter? abigial: they reported a good quarter were they beat numbers a

this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn.uy: from london, and guy johnson. this is "bloomberg markets." busy day for the markets. let's get the details from emma chandra. emma: yesterday's reprieve not really enough. the rally looking like it doesn't have many legs at the moment. the s&p 500 down around a percentage point. it was down closer to two percentage points, so we are off the lows of the session. still, nearly every sector in the red. around 5/10lso down of 1%, off the lows, but still deep into negative territory. what we are seeing in the u.s. did start to impact european stocks, but we are back in the stoxx 600. if we switch up the board, we can see how they did catch a little bit of that fear as u.s. stocks opened. this is the stoxx 600 intraday come arising close to a percentage point earlier in the european session, falling into negative territory as we saw the u.s., but now flat. let's move on and talk about global bonds because the rally there continues at pace. we are looking at treasuries, gilds, and bunds a

this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. london, i'm guy johnson. this is "bloomberg markets." let's go to chicago and the cme and get a sense of what is going on. eible joins us. give us a sense of what people are talking about down there and the order of magnitude they are seeing this weekend's events from china falling into. phil: we've got a lot of action going on in the pits today, everything from equities to agricultural, and interest rates plummeting. bonds are up over two handles. everyone is talking about trade tensions escalating and how it will impact the global economy. we do expect retaliation from president trump to increase those tariffs up to 25%. i think that is his next move. it doesn't matter where you are at right now as far as asset classes. the only one really holding up gold, moment is the silver, platinum, palladium. they are all pushing higher on this news where investors are trying to find safety. even bitcoin is up over 10% today. guy: we were just hearing about that. maybe that is part of the chin

then his song is called "love me less" max with quinn xcii from the mercedes-benz stage.nch montana, and a very special surprise guest will be here to do something he or she has never done before. so please write it on a post-it and stick it on your head. you know our first guest on screen from movies too beloved to even bring up. and he is just as successful behind the camera. he is director and executive producer of the 7-part showtime series "escape at dannemora" which is currently nominated for twelve emmy awards. please welcome ben stiller. [cheers and applause] ♪ >> my son is a very big guillermo fan. >> say hi. >> jimmy: you can take him home for the weekend, if you want? >> should we? >> jimmy: how old is your son now? >> he is 14. >> jimmy: you were just on vacation, right? >> yes, i went to hawaii for a few weeks, very nice, very nice. >> jimmy: are you able to relax? you don't seem like a relax aero me. >> i do, i do like to relax. i like coconut art. >> jimmy: oh, really? you make art out of coconuts? >> no, i just, it was a joke. >> jimmy: it was a joke. >> i

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.n, i'm guy johnson. this is "bloomberg markets." time now for a bloomberg business flash, a look at some of the biggest business stories in the news right now. the historic slump in chinese auto sales isn't over yet. the market resumed its downward trend last month after a brief uptick in june. retail car sales fell 5.3% from a year ago, the 13th decline in 14 months. global growth is "fragile," according to the latest report from the iea. they say they slowdown that is becoming enhanced is squeezing consumption. growth during the first five months of the year came in at the weakest in a decade. the world's biggest maker of insulin released its sales outlook for the year, boosted by its next-generation diabetes drug. still, they expect lower prices due to changes in the u.s. medicare program and market weakness. that's your bloomberg business flash. downe: uber shares are more than 7% now after a sales mess, and $5.2 million of losses in the second quarter, much of that due to stock-ba

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.: in london, i'm guy johnson. this is the european close on "bloomberg markets/ -- on "bloomberg markets." quest for fulls control of italy has started, and started on the beaches. he's calling for swift elections that would likely at this point hand the majority to him and parliament. joining us from italy is bloombergs maria tadeo. --vini once elections is bloomberg's maria tadeo. salvini wants elections. is he going to get them? maria: we don't know the timing of this because this is happening in summer. everyone is trying to assess what are the best options. i spoke to salvini yesterday, who is in full campaign mode herein sicily. this is an area of the country that many would not vote for the league. there is a divide between the north on the south, and salvini says he wants to bridge that. he says there is no plan to quit the euro or take italy out of the european union, but the market does worry about political uncertainty that could come, and they worry about the lack of clarit

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.: from london, i'm guy johnson. this is the european close on "bloomberg markets." let's get a first word news update with courtney donohoe. courtney: french president emmanuel macron gave boris johnson little hope he's willing to come from eyes on brexit. he told him that any changes -- to compromise on brexit. he told him that any changes to the deal wouldn't be sick. deal johnson -- the wouldn't be significant. the trump administration is getting closer to unveiling its plan for the future of mortgage giants freddie mac and fannie mae. bloomberg has learned top officials at the white house and federal agencies are reviewing the proposal that would free them from government control, where they've been since the financial crisis. the field of democratic presidential candidates just got a bit smaller. washington governor jay inslee has dropped out. he told msnbc he's determined he couldn't win the nomination. he ran as moderate, far behind in polling and fundraising. the amazon rain fo

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.: from london, i'm guy johnson. this is the european close on "bloomberg markets." let's check in on the bloomberg first word news. here's courtney donohoe. courtney: china threatening to take countermeasures if the u.s. goes ahead with plans tariff hikes. they said that president trump's -- hong kong is bracing for four straight days of protests. unrest is growing in the asian financial hub was violent clashes downtown last week between police and demonstrators. protests began weeks ago over potential expeditions to china and have grown to include chief executive carrie lam's resignation. ruerto rico governor resignation goes into effect today. u.k. prime minister boris johnson's governing party lost a special election today, leaving the party with a one-vote working majority in parliament. it was the first electoral test for conservatives since johnson took office nine days ago. he says the u.k. will leave the european union october 31 with or without a divorce deal. global news 24 h

this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn.don, i'm guy johnson. this is the european close on bloomberg markets. let's get the bloomberg first word news update with courtney donohoe. courtney: president trump has resumed his campaign against the federal reserve. he tweeted the fed must cut rates "bigger and faster." and he said the central bank should stop it "ridiculous ," andtative tightening added "incompetence is a terrible thing to watch." south korea is in talks with the u.s. to increase defense payments. , president trump said south korea paid the u.s. $990 million, substantially more than the year before. he said the relationship between the countries is a good one. atleast 14 people have died 145 others have been wounded in a taliban suicide car bombing in kabul. the bomb went off when a vehicle was stopped at a checkpoint outside a police station. the attack came after the taliban in the u.s. reported progress on negotiating and end to the 18 year war. fedex cutting in other connection with amazon. it's ground delive

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn.: from london, i'm guy johnson. this is the european close on "bloomberg markets." let's check in on the first word news. here's courtney donohoe. courtney: president trump said he is not thrilled by the strong dollar and wants the fed to make substantial interest rate cuts to lower the value of the currency. the president said the dollar strength is making it more difficult for american companies to compete. saudi arabia looking at ways to halt the seven month long slide in oil prices. officials said the kingdom has spoken to other oil producers to discuss options. the saudis have already cut production more than required in the deal between opec and its allies. in italy, deputy prime minister matteo salvini is ratcheting up pressure on the coalition government to yield to his policy demands. if not, he could decide to --solve the policy sharing decide the power-sharing agreement between the parties. les wexner accused every epstein of appropriate invest amount of money from his famil

vonnie: i am vonnie quinn. this is the european close on "bloomberg markets." guy: what a week it has been. this is the week for the stoxx 600. 1%, some by half of european markets down more, but most of the week, we have been on a downward trajectory, just beginning to find firmer footing. the bund a factor. der spiegel headline indicating aat germany may be moving to recession. we were -72, now -66. the british pound gaining traction. there is a movement to try and prevent a hard brexit. the market likes that. i put the danish krone in here versus the u.s. dollar, simply because apparently the president of the united states wants to buy greenland. in majore are off 1.5% indices. the s&p quelling back to 2900. the 10 year yield off its lows at 1.8%. we did get consumer confidence data from the university of michigan that was a little disappointing. the 2/10 spread widening, although it is still narrow. nvidia the best performer in the h&p former -- 500, vying wit ge. provides trips to game makers. it is bouncing back after an incredible decline yesterday. guy:

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: european equity markets down hard. mining stocks coming off. big names like nestle, lvmh, companies that have exposure into china, are coming down hard. at -50 in germany. 50 in the united kingdom. we are where we have never been before on both of these bond markets. we have seen a violent search for yields and safety today. the british pound trading down again. it came up a little earlier on. the dollar catching a bid. british politics still front and center as well. vonnie: over the weekend, what we saw was escalation of the trade war with the latest move being china fixing above seven last night. that is trading at 7.10 now usd-cnh.for adding to the downside, it is the internet and home entertainment index in the s&p 500, the worst performing group right now. electronic arts, take two interactive, and activision blizzard after the president talked about reframing violence in society, specifically encz and video games as part of the problem -- specifically mentioning videogames

vonnie: from new york, i am vonnie quinn.get a first word news update with courtney donohoe. courtney: president trump says everything is going well with china but he says the u.s. is not ready to make a deal on trade. he says next month negotiations may not take place. the president spoke to reporters at the white house and's at the tariffs imposed on china have been "amazing." -- fellure of wholesale for the first time in two years. fromcer prices decline .1% june. the 2.1% annual increase was the slowest is 2017. it is a blow to newly installed british prime minister boris johnson. the u.k. me economy sank -- the u.k. economy sank in the second quarter and that has not happened since 2012. gdp fell .2%. companies ran down inventories built up ahead of the initial march deadline for brexit. british manufacturing fell the most in a decade. tiger woods has withdrawn from the opening fedexcup playoff event. he says he has mild muscle strain. round of 75pening and was far back in the pack at the tournament in new jersey. global

this is bloomberg. ♪ ♪ vonnie: live from new york, i am vonnie quinn.s is the european close on "bloomberg markets." let's get the first word news. here's riddick a kuchta -- here's riddick a group to -- gupta.ritika president hassan rouhani made it clear there is a condition to any future negotiations. key to changing the relationship is in washington's hands. ritika: president trump said he is willing to meet with rouhani to discuss their standoff over the nuclear agreement. and germany, the economy is on the break of recession. blame a second court a slump in exports, which fell by the most in more than six years. that led to german gdp shrinking by 1/10 of 1%, the second contraction in the past year. japan wants to end the auto terrorist threat as part of a trade deal -- the auto tariff threat as part of a trade deal with the u.s. they announced a tentative agreement over the weekend. president trump says he is not considering tariffs on japanese cars at this time, but left the door open to imposing them later. global news 24 hours a day, on air and

claire quinn happens to be a golden gloves boxer. on sunday a man who asked for directions grabbed her, punched her in the head, and demanded her phone. that's when quinn fought back. >> right away she started hitting him wherever she could. in the nearest spot was the groin area. he messed with the wrong girl, and she had some skills. >> quinn suffered a mild concussion and bruising but was clearly the unanimous pinner. she's 6 -- winner. she's 6-0 in the winner and 1-0 out of it, but she will miss this weekend's boxing match. >> i love that story. absolutely. i do not condone violence, but -- >> in the case of claire quinn -- >> serves you right. go, girl. yes, nice. >>> all right. let's get a check on cnn business this morning. on wall street, right now as you can see, well actually that was a follow through, positive follow through in asia. higher by .5% for the nasdaq. i can tell you stocks all over the place thursday after the bond market once again flashed warning lights that a recession could be coming. just the dow managing

. >> live from bloomberg world headquarters in new york, i'm vonnie quinn. amber: i'm amber kanwar in toronto. welcome to "bloomberg markets." here are the top stories we are following. weighing the risk of recession. we will speak to malcolm night from the london school of economics, former vice chairman at deutsche bank. tradeing a week of optimism, another round of tariffs on china still set to hit on sunday. it is the next escalation of a trade war between washington and beijing that will hit u.s. consumers in the wallet. hurricane dorian is set to become a category four storm and barrel into florida ceased coast, causing potentially $10 billion worth of damages. all of those questions in the next 30 minutes. let's get a quick check on the n the major averages. the dow jones industrial average holding onto a gain of .1%. about .4%.down given that we got the university of michigan consumer sentiment for august today, i'm looking at this chart. it is the widening gap between the two measures of u.s. sentiment. it has signaled past recessions. it's been ele

vonnie: i'm vonnie quinn.cks are plummeting on china's latest tariff threat and president trumps threat to retaliate. one of the hardest hit sectors is automakers. ford and general motors down 2.5%, tesla losing as much as 4% today. european automakers were down as well. let's bring in our detroit bureau chief with the latest. overreaction or will he get enough tariffs to impact these carmakers bottom lines? >> it depends on which carmaker you are looking at. this feels like groundhog day. either trump or china threatens tariffs, and stocks are hit. the fact that tesla is down 4% is reflective of the fact that they export everything they sell from the u.s. to china right now. tariffs on their cars would certainly help them, especially if they are trying to ramp up sales of the model three. they are building a plant in china and supposed to have it up and running in the second half. the problem with tesla is they are always behind in getting production up and running. to play inriffs came december, it would cer

i am vonnie quinn in new york.er: those in puerto rico and florida are not only bracing for hurricane dorian, insurers are on high alert. the potential for a loss has increased as the hurricane gained strength, possibly hitting the coast and the panhandle has accorded gory 3 -- 4tegory -- as a category 3 or storm. more, let's bring in insurance analyst matthew palazzolo. thisve been talking about as a $10 billion plus event how does it stack up to some of the most recent hurricanes that hit the region? matthew: if you look at the past two years, we had hurricane michael last year. that was about a $10 billion loss. then we had hurricane irma in 2017. the losses there were a little bit more fuzzy. $20mates are kind of in the billion to $40 billion range. and read onlook where the storm is coming in, you are probably looking at somewhere between the $10 billion michael and $20 billion to $40 billion of irma. amber: this is not a new phenomenon. these areas are vulnerable to hurricanes. you seenusing -- have the insur

from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." we are seeing a nice bounce across the globe today. 1.66% after up conte has accepted a mandate to form a new government. that has italy's 10 year yields below 1% again. moneyard to see why, but flowing into bonds in italy, as well as equities. the dax in germany up 1%. just a couple of stocks lower in germany throughout the session. one of those, the worst performer today, vonovia, germany's largest landlord. there's a potential rent freeze coming to berlin, which has investors just a little scared. in the u.s., also seeing a nice bounce. the s&p 500 well back above 2900 on china comments. the 10 year yield at 1.51%. then we have the ceo comments and outlooks two-wa -- and well, onto weigh, as china tariffs. we will get into details in a moment. let's get more insight following the latest statement on trade from china's ministry of commerce. it reads in part, "china has ample means for retaliation, but thinks the questions that should be discussed now is about removing new tariffs to

i'm vonnie quinn. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world. hong kong police exited the airport to more clashes with protesters outside. the airport seeing its second day of major disruption. embattled leader carrie lam risks the city could slide into an abyss. u.s. delays that 10% tariff on chinese imports until december. stocks surge on the news. u.s. consumer prices rise more quickly than expected in july as gasoline reverses a two-month decline as brent climbs. how the fed will interpret the data. halfway into the u.s. trading session. abigail doolittle is with us. trade continues to dominate. we have a nice rally, risk on day. we have two sets of headlines the markets are doing with. the trade headlines and the fact that that 10% tariff will be delayed until december for some consumer imports. that has sent stocks higher but we are off of those highs due to the political uncertainty in hong kong. s

i'm vonnie quinn. u.s.tocks are extending their slump with all major groups in the s&p 500 lower today. for more, let's welcome solstein capital cio nadine terman. fouralk about a quad environment. explain what that is. nadine: they are two key elements if you are looking at how to look at stocks and asset classes across the globe. the first is the growth of gdp ur for us mean decelerate gdp. the second is inflation. in the states we have seen decelerating growth and inflation versus argentina, 50% increase of inflation. here in the u.s., it's been decelerating. those areas really affect what asset classes do well or poorly, as well as what stocks do well or poorly. vonnie: there is a real disagreement on where we are in the business cycle, credit cycle. what are people that do not see a slowing coming doing wrong? nadine: you have to measure gdp across the globe. what we saw since last spring is eurozone, the seller rating various parts of asia. here in the states, it took longer to get to that point. ther

this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn.om london, i'm guy johnson. this is european close on bloomberg markets. let's get a first word news update with courtney donohoe. courtney: iran's president is slamming sanctions by the trump administration targeting the country's foreign minister, describing the move as childish and a barrier to diplomacy. the u.s. announced it would had imposed sanctions on the foreign minister. they come at a time of escalating tensions between the countries. a pentagon watchdog said afghanistan's military of remains seriously shorthanded. army, airrt felt the force, and police are 80,000 people short of their target. the u.s. is trying to negotiate a peace treaty between the afghan government and the taliban. mark is defending the central banks assumption there will not be a no deal brexit. carney says it is still the government's official position to reach a deal with the eu. bezos is now amazon's second-largest shareholder. almost $20 million in shares are registered in her name. her 4% stake is

vonnie: live from new york, i am vonnie quinn. this is bloomberg markets. a check on first word news. china has now retaliated with its own proposed tariffs. 10% andge from 5% to will be impose on $75 billion of american products. this comes following president trump's decision to impose tariffs on $300 billion of u.s. goods. india is boosting growth. foreigners have withdrawn more than $3 billion from indian shares since early july. that has put pressure on stocks. the european union is welcoming people to to allow disembark. ship isn viking rescue only designed to hold about 200 people. u.s. aviation regulators are looking for a few good airline pilots. they want fliers with experience in the boeing 737 max. the pilots will come from around the globe, and in some cases captains,be seasoned while the faa wants those with as little as nine months of experience. areong kong, protesters gearing up for another week of demonstrations. widened into have a broader movement against beijing's grip. global news 24 hours a day, on air and @tictoc on twitter, powered

i'm vonnie quinn. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world we are following. iran's top officials often but ruling out talks with the u.s. a day after president trump extended his most expensive offer yet to the islamic republic. a potentially smoking deal in tobacco. philip morris in talks to reunite with its former smoking buddy altria in an all stock deal. news for pension holders. a collapsing global bond yields forcing pension funds to buy bonds that offer negative returns. we will tell you what it means for retirement savings. taylor riggs is with us halfway into the trading day and we have seen a turnaround ins talks. -- in stocks. taylor: ever since the opening bell this morning, everything has been going in a straight line down, making a clear series of lower highs and lower lows. the 10 yearans is is now back below 1.50, down six basis points. if we look at the yield curve, we know the 2/10 is

i'm vonnie quinn. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world that we are following. china fights back with the yuan and soybeans. the country devaluing its currency and ordering state owned companies to stop buying u.s. soybeans. u.s. markets plummeting as the trade war intensifies. the shooting deaths of 31 people over the weekend raising pressure on president trump to address rampant gun violence. meantime, a handful of stocks higher in the s&p 500. we are at session lows. kailey leinz has more. kailey: shaping up to be the worst day for the s&p 500 this year. down by more than 3.5%, the worst two-bay street from christmas eve of last year. it is now down for a sixth consecutive day. off of the record high that it set just back on july 6. one of the catalyst for all of this was the counterpunch from china, allowing their currency to breach that seven level, the offshore yuan. now above 7.1 to the dollar. this is the biggest fall in on

from new york, vonnie quinn. this is the european close on "bloomberg markets." let's have a look at european markets now. the stoxx 600 down more than 4/10 of 1%. down about 3/10 of 1%, off its lows. it is a down day across europe. in germany, the dax is down 6/10 of 1%. the italian 10 year yield is off its lows, but it did breach the 1% mark a little earlier on. 1.04%, as money flowed into italy. let's have a look at how we are doing in the u.s. the s&p 500 up 3/10 of 1%, held back a little by some stocks down, including autodesk, down 11% following a disappointing earnings quarter. the stock itself has been doing quite well, it should be mentioned. the offshore renminbi is trading at 7.1704 right now, so another significant weakening. the 10 year yield in the u.s., 1.47%. it got as low as 1.45% earlier in the session. the vix above 20 today. let's get back to brexit. prime minister boris johnson striking a storm of controversy with a plane to suspend parliament for five weeks. the queen has approved the suspension. labour party leader jeremy corbyn is vowing t