shery ahn: i am shery ahn in new york. you are watching daybreak australia. trump's.s., president action against huawei was felt throughout the chip sector. >> many of them have already stopped shipping and that has had an effect already. it shows that the market is still on edge. take a look at the way we closed. notice the semi conductor index, down 4%. that shows you the big drag, which was tech. futures are up slightly as we head to the next open. qualcomm, note they put out a slashing their forecast because of the anticipated loss of revenue from huawei. they have halted shipments as well. takencompanies have all major hits. let's go into the bloomberg real quick. here you see the last couple of .ays of sales lastly, let's take a look. this is a marquee stock that fell as much as seven point 5% in the latest session. in the friday session. an analyst says this is code red for the stock. they are really hoping that reaching the $200 level is significant. the company faces a monumental uphill climb to return and reach profitability at this point. paul: a f

shery ahn: thank you.he trump administration be ready to stoke further tension with china as a debates blacklisting more chinese firms that work on video surveillance, barring him from u.s. tech and halt the global business. theing hit out, calling tactics unfair and politically motivated. let's get the latest from our editor. it seems the rhetoric is heating up from both sides. tell us what could president trump do next here. >> the question has been bubbling about chinese firms and user use, their equipments and repression in china and possible use of espionage against the u.s. some of it has been coming along for a while. the timing is interesting. it does come in the middle of this dispute between the u.s. and china, the breakdown of talks in trade. with the u.s. can do is put another set of companies under the same restrictions that it did with huawei, and forbid the u.s. companies from selling restricts and importation of articles to the u.s.. this will further cut into china sales and some large cor

shery: i'm shery ahn in washington, d.c. where it is 6:30 p.m.et the first word news with jessica summers. jessica: thanks. china has confirmed top trade negotiator vice premier will join the latest round of talks in washington this week. the news is seen as a sign that beijing is fighting to keep negotiations on track after president trump said he is raising tariffs on friday. at the same time, sources tell bloomberg that china is are paring retaliatory -- preparing retaliatory measures if new tariffs are imposed. law enforcement from the u.s., malaysia and singapore meet this week to coordinate their approach to goldman sachs over its work for the investa ment firm under scrutiny for helping the fund raise $6 billion in bond sales that generated more than half $1 billion in fees. last week, david solomon told us the firm had begun talks with the doj over its role in the scandal. thailand's election commission has confirmed the party linked to the exiled former prime minister took the most seats in march's general election. constituencies in the

shery: i'm shery ahn. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering. wall street tumbles as china hits back on tariffs. president trump warns beijing not to go too far. stocks fall the most since january. investors seek safety with gold up the most since february. the yen has strengthened in early trading. oil dropping for a third day and the racing earlier gains sparked by new tensions in the middle east. shery: later in bloomberg technology global link, uber suffers another day of selling. the stock down about 20% through its first four days of the market. islook at how the ceo selling the broad game. stocks losing more today as they did in the whole of last week. the dow lost more than 600 points. we saw stocks that are trade sensitive such as caterpillar and apple losing about 5%. more than 450 stocks lost ground on the s&p 500 which fell 2.4%. tech and industrials leading the decline. nasdaq testing the biggest decline of the year. 10 year treasury

shery: i'm shery ahn in new york where it is 6:30 p.m.et the first word news with jessica summers. jessica: the u.s. will raise tariffs on chinese goods on friday, accusing beijing of pack peddling on commitments it made on negotiations. the trade talks will continue with the chinese delegation still set to visit washington on thursday and friday. trade representative robert lighthizer told reporters that significant issues remain unresolved, including whether tariffs will remain in place. treasury secretary steven mnuchin is refusing the latest attempt to obtain six years of president trump's personal tax return. writing to the house ways and means chairman, these are the democrats request "lacks the did amid legislative purpose, and therefore not authorizing to disclose the requested documents." the democrats could pursue more forceful measures such as a subpoena. the lira tumbled as turkey's top electoral body nullified the local election in istanbul and ordered a revote. it is a victory for president receivewho refused to that his can

shery ahn: i'm shery ahn of bloomberg world headquarters in new york. sophie: i'm sophie kamaruddin in singapore. we're counting down to asia's major open. ♪ paul: here are the top stories we are covering in the next hour. trade talks resumed in washington with president trump saying the deal is still possible. even so, wall street closed with a fourth straight loss. of the bottom of the range. the ipo valuing the company below its last private estimate. -- to infinity and beyond almost. jeff bezos fires up the space race, making a case for a return to the moon. shery: the s&p 500 fell for a fourth consecutive session, now headed for its worst week of the year. we saw materials and tech stocks leading the declines. those are two sectors that are sensitive to trade. we had at one point stocks paring back some of the earlier declines as we heard more positive news out of the white house with president trump saying he is still expecting a deal this week, that he may be speaking on the phone with president xi jinping. of course, that was not enough upside f

shery: i am shery ahn. let's get to first word news.t with the aussie dollar which strengthened in early trading after scott unexpected victory. the liberal national coalition defeated what the prime minister called a miracle. 6868 -- the aussie dollar was 68.68 last week. since the lowest level january. >> i have always believed in miracles. [applause] and tonight we have been delivered another one. good is australia? plus, saudi arabia and other top oil producers are signaling their intention to keep supplies restricted for the rest of the year while pledging to resort -- pledging against shortages. after talks in the kingdom over the weekend it is not clear how much russia shares that view with the energy minister talking about potentially relaxing the opec output curves. the group must stay united. >> my recommendation to my to guides will be things down gently. to stay on trajectory of bringing inventories down to a normal level. it is why i am making sure no customer or refinery is left without a requirement for crude oil. 16 peop

you want to recognize commissioner ahn what has an adjournment in memory. >> commissioner ahn: i like to begin the meeting in tribute to marie harrison. longtime environmental activist. she passed away may 5th at the age of 71. she was tough. she was effective and she was a tireless advocate for environmental justice and equity and justice issues the bay view. she's known for her work in the bayview. she her story is one of african-americans in san francisco. the one different neighborhoods she got to experience and as a result, understand the tragedies involved in displacement as well as the environmental and injustices that apolitical afflt communities of color. she can tell about the rise and fall of community. which are very rare. in 2001, marie was hired by the organization and environmental justice. one of the first ever environmental justices granted issued by the department of environment. the purpose of the grant was to conduct outreach on energy efficiency issues as well as renewables for the community. she also empowered residents to advocate for the shutdown of the power p

shery: i am shery ahn in new york. ophie: i'm sophie kamaruddin. we are counting down to the market open. paul: here are the top stories we are covering in the next hour. wall street rose a third day thanks to solid earnings and strong housing data. trade tensions remain high. still in store, the largest losing streak since the year 2000 as prime minister theresa may agreed to a timetable to resign. election,fore the aussie dollar under pressure amid the ongoing trade war. shery: let's get you started with a click check of the markets closed -- a quick check of the markets close in the u.s. we saw a rebound in risk assets. every sector on the s&p 500 was in the green. we have solid earnings from cisco and walmart, lifting sentiment. not to mention that we have strong housing data and that really lifted sentiment across market. we also had yields higher with a 10 year yield hovering around 2.4%. still, anxiety continues out there over the latest trade headlines. it was not that surprising to see some of that rally fade into the close. the nasdaq clo

shery: i'm shery ahn in new york.l boxnother office high, disney is set to report second quarter earnings after the bell. the latest installment "avengers: endgame" is already poised to become the biggest blockbuster of all time, and that is just one of the highly anticipated films they are sent to liver this 2019. will it be enough to impress investors? did you watch the movie? >> i have not seen it yet. shery: it is so good, you have to watch it. it was very good. that is a huge one for 2019. but 2020 will not be as exciting . what are we expecting? >> a little bit like this quarter, not much for disney to report on at the moment. came out inndgame" april, the quarter ended in march. that will not be a part of the results. disney plus is launching in november. investors are waiting to see what they say about his upcoming films and a streaming app coming out this year. because of all the big blockbusters this year, the line 2020 will look relatively boring in relation because there will not be as many big films. aman

shery: live, i am shery ahn. john in for amanda lange, we are joined in by our audiences. shery: hear the stories we are following. the white house is ramping up the battle with beijing, moving to restrict -- the cover sacramento area saying that the order will take effect tomorrow. walmart is posting its best first quarter and nine years, the retail giant meant -- giant beating retail estimates with warnings about the future impact of trade tensions. and monty python and the central bankers. we spoke with john cleaves about his unlikely career path. let's get started on the major averages. we are seeing u.s. stocks in the afternoon session gaining ground. we are talking about the s&p 500 gaining 1.2% for a third consecutive session. there are still jitters out there over the latest trade headlines, yet solid earnings from walmart and cisco have lifted sentiment. the dow jones is also up 1% and we are seeing the nasdaq seeing the biggest jump in almost two weeks. not to mention that we have some strong housing data as well. the 10 year yield is seeing a bit of a rebound ab

this is bloomberg. ♪ shery: i am shery ahn new york.n sydney and you are watching daybreak australia. a quick check of the latest business flash headlines. johnson and johnson has lost another case and must pay at least $25 million to a woman who claims she contracted cancer after using the company's baby powder and shower products. it only reflects the award of compensatory damages. the jury will consider punitive damages that could be higher. shery: hong kong sold its first ever green bond nominated in u.s. dollars to become the second asian government after indonesia to raise such debt. the $1 billion five-year green bond will yield 32.5 basis points over treasuries. the proceeds will be used to finance environmental projects that support the sustainable development of hong kong. paul: it seems not everyone is for veggie burgers. beyond meat is being called up by one small time but well-known analyst who predicted the tumble of facebook back in 2012. $28 target has set a on beyond meat, 60% below the current price. shery: i don't car

shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering. act now, president trump wants china to strike a deal on trade because worse could be on the way if he is reelected. uber will be in the spotlight when wall street opens. investors bracing for another tough day. australian elections swing into gear with scott morrison appealing to the country [indiscernible] shery: u.s. futures are trading after a weekend of trade antagonism tween the u.s. and china. futures are down .7%, reacting to the latest from donald trump. he tweeted china broke the deal, that we are at the right place, where we want to be in china. we have the u.s. markets closing optimism tradead negotiations didn't completely breakdown. 10 out of 11 sectors on the s&p 500 gained ground, being led higher by utilities and materials. we also have the dow gaining .4%, the nasdaq unchanged but we have data out of the economic front. we saw the dollar falling to session lows and u.s

this is bloomberg. ♪ shery: i am shery ahn in new york.m paul allen in sydney and you are watching daybreak australia. huawei founder and ceo ren zhengfei has denied his company ever steals intellectual property and says president trump is targeting his company because of their success. ren spoke exclusively with bloomberg and huawei's headquarters. likely the u.s. steals our technology. whether we have a government background, american auditors audit us, right? this unfounded conclusion may not be right. we're leading the u.s. now. if we were lagging behind, trump would not need to make so many efforts to attack us. he attacks us because we are now more advanced than them. >> if at a moment of national crisis, the government came to you and said we need your help, we need your cyber skills, we need access to your network because it is for the good of the country, the good of the government, the chinese people, how would you respond? ren: we absolutely would never install never -- any backdoors. we would never do that. we serve human being

. ♪ >> live from bloomberg, i am shery ahn. >> i am amanda lange.ere are the top stories from around the world. stocks are sinking for a fourth day as china's top negotiator heads to washington. signs of trouble for the bond market. the treasury sees its weakest demand for 10-year note's in a decade. world'sow for the largest mobile phone operator. the fcc is barring china mobile from providing service in the u.s. over espionage concerns. let's get a quick check on the markets. it seems to be a trait that is preoccupying. another down day. although we are off the worst of the lows, still firmly in negative territory. at one point looked as though the momentum would be down to support level of the 200 day moving average. most of the subgroups are negative. real estate has been a bright spot. techs are weak. another name that stands out is chevron, but it walks away with a break fee from the anadarko bid. one other place in view here is the yield curve. once again for the second time this year it briefly turned, inverted. the concern is that suggest a

shery: i'm shery ahn in new york.ber is set to release its first really earnings results after the closing bell and give the company a chance to address that . with us iseaty mandeep singh. we are going to be looking at revenue growth. also, profitability. what will matter in these results? >> obviously, first, earnings. the focus will be on takeaway. when you look at uber's financials, going back to 2017, 2018, bookings growth equaled revenue growth. that is a sense of stability intake rates. recently they have been aggressive in subsidies. you will see some decline in take rates, and that is the key in metrics. we know they are not going to be profitable soon, but in terms of how they are gaining market share, how they are stacking up against the competition in terms of the addressable market, those are the most important questions to me. we are one place watching that is their core platform margin, contribution to margin, which have been negative. is it possible to get an upside surprise? >> very unlikely. they pre

live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. we are joined by our bloomberg and bnn bloomberg audiences. here are top stories from around the world. in version asked. global bond yields drop with portions of the ju yield curve inverting the most. we will talk to an analyst to says apple's earnings could drop 26%, should china banned the iphone. and the rare earth gamble. china threatens and export ban to the u.s. on hard-to-find commodities using everything from electronics to wind turbines. let's get a quick check on the market here. we are seeing jitters continue, --de concerns in looting including escalation of the lights we mentioned. across-the-board declines. s&p 500 week. energy is leading the decline. perhaps a read on the outlook for economic output. a tiny bit of strength and chip stocks. for the most part you are seeing negative action across the board here. as we mentioned, tied to the inversion of the yield curve. stocks to keep an eye on, johnson and johnson, canada goose.

. ♪ >> i am shery ahn in new york.om: i am paul allen in sydney -- paul: i am paul allen in sydney. the s&p 500 today gain was the biggest in more than a month. .ue in part to president trump su keenan joins us now. that news is coming after the bell. as good of news as we thought on deeper readings. su: the idea of kicking it down the road is something the markets seemed to embrace. thee were some realities in market that there would be changing headlines on the trade front. there was also some i speculate bad economic news -- unexpectedly bad economic is for the u.s. and china. the snapshot was we saw the media and entertainment sector of the most. .utures are mostly flat that is because we are seeing the tensions ease. as is the overarching headline. let's look at some of the big movers and what you see are various different stocks and different stories. different gainers and losers. this put pressure on the stock. hoover -- lyft and uber both rebounded. the drivers for these auto sharing services are contractors, n

>> commissioner ahn: we discussed it. >> vice president stephenson: i. i'm starting to get lot of questions about it personally. i'm not sure how to answer when they're asking questions about things like, am i supposed to put my throwaway coffee cup, put that in the recycling bin. would it be better in compost. >> commissioner ahn: one things that was discussed was possibility of another site visit. it was repeated in the presentation that colleges adopting new technologies to help improve recycling rates. that will be great for us to experience. when was the last site visit? >> president bermejo: about two years ago. any other comments? is there any public comment? we're going on to the next item. >> item 12 is announcements and items for discussion. >> president bermejo: any announcements, next item. >> item 13 new business. [agenda item read]. >> thank you commissioners. as commissioner stephenson noted the operations committee is meeting thursday of this week. after that, the policy committee meeting is june 10th. then for the full commission, the ne

i'm shery ahn in new york. let's get the first word news.tlined plans to ease the 737 max 8 back into commercial service. that is once regulators lift a global grounding for the jet. it will take around three months before flights resume. in the meantime, teams are preparing to take 500 jets out of storage including around 100 new planes that cannot be delivered until the grounding is lifted. israel will hold a new election after benjamin netanyahu failed a form of government by a midnight deadline. the six-week deadline expired with two of his party's potential partners unable to agree on a proposed military draft law. a nationwide strike in argentina to protest government austerity measures has halted hundreds of trains, buses and flights. many schools were also closed and hospitals offered emergency services. strike was organized by a labor union over plans to slash subsidies amid a recession , currency devaluation, and one of the world's highest inflation rate. to luxury new york condos two a financier will be sold as part of a u.s. of f

i'm shery ahn in new york. amanda: i'm amanda lange in toronto.resa may is under serious pressure to ditch her brexit deal and quit as prime minister. she says it is her duty to press on. guy johnson is with us from london. what is the expectation that theresa may could go as soon tonight? could she be forced to resign that soon? been speculation all day whether or not she will be forced from office. a meeting of the 1922 committee of backbench mps has just ways, theynd in some have dodged the issue at least for tonight. what they have said is they will not change the rules that could allow the mps to force theresa may out. she will be called back in front of the chair of the committee on friday. she is absolutely clinging to power with her fingertips. we have european elections that are going to take place in the u.k. tomorrow. they will be closely watching to see what the result is. these events may or may not be linked. theresa may's last roll of the dice, which came yesterday when see -- when she offered a vote on the second referendum if they

. -- i'm shery ahn. shery: the future of the eu.50% of european voters turned out to vote in the parliamentary elections, the highest turnout in two decades. we have the key takeaways. president trump is back from his trip from japan, landing moments ago. did his visit move the needle when it comes to trade talks? amazon poised to cut out the little guy. bulk orders are set to dry up for mostly smaller suppliers. in a few moments, we have the details. let's get started with a quick check on the major averages. we are seeing pressure for the s&p 500, dow. we had some earlier gains but u.s. stocks not able to hold on to those. this of course, after the holiday weekend. we had some concerns over trade tensions with china. we are seeing consumer staples and utilities weighing on the s&p 500. we did get consumer confidence data coming in better than expected. the nasdaq up .3%. we are seeing a treasury rally accelerate. the yield curve falling deeper into inversion. we are talking about the gap between the three-year and 10-month rates.

i'm shery ahn in new york. amanda: i'm amanda lang in toronto.ning to an email, obviously, the stock is not trade as well as we had hoped post-ipo. today is another tough day and i expect the same as it relates to herself. the ipo was anticipated as one of the largest of wood offerings of the year. joining me now with more is our senior technology analyst. talking one thursday, we were not anticipating the fall to be this bad, but he is justifying this, saying other tech giants like facebook and amazon also face difficulties after listing. can we justify this or is this unprecedented and unique? mandeep: this is one of the largest ipos. couple it with all the macro news, what is happening in the market, it just goes to show you that the market is not really valuing these ridesharing companies like tech companies. to my mind, they even doubt the ability of these companies to raise prices and be able to grow topline at 30, 40%, as they were before. there is some skepticism around the ability of these companies to be the next alibaba or amazon. also

shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering. wall street recovers as president trump strikes a more optimistic tone in the trade. the dollar strengthens and treasuries fall. the new york fed president sees on effects from the trade war but john williams says there is no need to cut rates. >> i think the policy is in the right place great i don't see a reason to have a bias upward or downward. paul: nissan hits rock-bottom as profits go to a decade low. we will look at the road ahead with the plan stuck in neutral. shery: let's look at how the tuesdayclosed in sessions. we have them coming off of the worst selloff in four months to gain ground with the dow up .8%. that rally faded into the close, still big exporters like caterpillar and boeing were able to reverse some of the losses we saw monday. tech also have gains on the s&p 500. we had energy up, oil gaining ground after we heard some drones had hit saudi arabia's main crude p

i am shery ahn in new york. paul: i am paul allen in sydney. has unveiled its first updated ipod touch in four years. it has a new chip and a way to tap into apple's new services and a new price tag. $199. our resident apple guru, mark gurman, joins us from los angeles. why is apple revamping a product that is 20 years old? the ipod last time touch was updated was in 2015. four years ago. next week is their annual developers conference where they roll out new software, and in order to get the newest features, you need the newest hardware to make it work. some of these features are very processor intensive and require a lot of speed. because they have not been some of the latest apps from developers. it makes a lot of sense they would update it. they went to a faster chip. there is nothing else new going on here. shery: is there really still demand for ipods? we all have iphones. why do you need ipods? the: at the lower end of market, for kids, 13 and 14 and below, the ipod touch still is a seller. i think of it as a competitor to what was a gam

i'm shery ahn in new york.gapore seeing and improving environment after posting better-than-expected first-quarter results. dbsn exclusive interview, boskalis he is optimistic about the bank's performance. >> if anything, the first quarter saw tailwind as opposed to headwinds. on top of that, the fact that most of the central banks have levered off monetary policy tightening, perhaps in some cases easing monetary policy. that is helpful to economic conditions. therefore i think the overall environment is better than it was a few months ago. businessngly, our pipelines are looking quite robust. as far as we have transparency, they are looking quite good. i am quite optimistic. >> let's talk about the description risk, because that is affecting -- disruption risk, because that is affecting closuresbanks amid and job cuts. are you concerned -- we see the aging of the population of local employees, whether or not they can be retrained? >> they can be 50 or 70 and know how to use facetime and uber, so if you can mak

shery: i'm shery ahn in new york.ency markets, subdued, showing demand for traditional havens. bye-bye they you on another trade proxies are falling. is say-- our next guest -- saying bearish on the one. bank had a fixture strategy is with us. always great having you with us. let's take a look at the chinese yuan. this gtv chart on the bloomberg showing three months risk reversals when it comes to the offshore yuan, rising to the highest since november. these demands are wagers against the yuan. are the yuan bears back on the prowl such as yourself? being.the time i would not classify as as a massive you on their. but -- yuan bear. on theis a great gauge fear around trade tensions. we were bearish on the yuan short-term before, the most recent bout of trade tensions picked up. foro think there is room this to move higher as long as the trade tensions linger. hedge think it is a great for allocations that otherwise long riskier assets like equities or corporate bonds. shery: how big of a risk is into your scenario if w

shery: i am shery ahn in new york.resident trump is calling on the federal reserve to help win the trade war with china. he says victory would be inevitable if the u.s. matched stimulus moves in beijing. bank of america merrill lynch says the next steps are not simply a game of chicken involving the president and xi jinping. it is a match between markets and the fed chairman. merill lynch head of global interest rates and economics research david woo joins us now. great to have you with us from hong kong. what do you make of the president's tweet? is it just another way to hit at the fed, ask for help, and does it mean anything? will it active trade tensions get worse? -- will it act if trade tensions get worse? david: i do think trump is in a stronger position now than he was in september when the fed was hiking rates. there is no doubt the fed has stopped. from that point of view, that is helping to support risky assets. ironically, that is giving trump more ammunition to continue this trade war with china for the ti

shery: i'm shery ahn in new york. we just heard from st.sident james bullard who told us rate cuts may be justified if inflation remains below target. the fedore clarity on relief system from its main meeting wednesday. let's cross to our market strategist. great to have you with us. are you expecting any fed moves this year? think it is something we will look at into 2020, just singapore, we do get uncertainty, in terms of whether is to come. there is not rod expectation for growth slowdown prayed trade tensions are adding to the worries. as far as the u.s. economy is concerned, we see indicators that there is no need yet. there are a few changes, but my expectation is into the next year. shery: because of those trade tensions, we see the bloomberg dollar index around a two-year high. ofjust heard from the cio payment capital management. take a listen to what he had to say. long dollars, u.s. dollars. that means we are short southeast asian currencies. shery: what are your views on where the dollar is headed? especially given that you have

shery: i'm shery ahn a new york.ng a mixed start to the monday session following three weeks of declines on u.s.-china trade tensions. joining us from hong kong is binay chandgothia, global investors managing director and portfolio manager. always great to have you with us. we have seen the selloff in asian markets, particularly in china. does that mean potentially valuations have come down, that it is cheaper to getting to the action? binay: yes, hi, good evening. valuations have definitely come off after the selloff from the third month of this year. clearly, valuations which are at the end of this month. having said that, we realize that valuations by themselves are not a trigger unless they reach extreme levels. we have not reached extreme levels yet. which means it will depend on the economys up and growth. in both asia and the u.s. shery: we continue to see the latest headlines on china-u.s. tensions, affecting huawei, and potentially other chinese tech companies. is this a sector you would be particularly worr

shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering. president trump turns up the heat on china, threatening to impose more tariffs on imports as he is not happy with the pace of talks. the philippine central bank governor has plenty of room to ease. he also welcomed the upgrade from the s&p. or in the footsteps of his criticism of private equity firms, accusing some of dishonesty. we will have more from the meeting in omaha. looking at how markets close, looking at u.s. futures plunging more than a percent, 1.3% at the open. we had president trump tweeting we could see these tariffs on $200 billion from chinese goods being hike to 25% friday. that the u.s. china trade talks continue. 500 gained the most in a month, taking the surge to 18%. we have the nasdaq composite closing at a record high. we have amazon shares jumping the most as we heard from warren buffett that berkshire hathaway has been buying its shares. data that strong job gr

shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. paul: here are the top stories we are covering. always found are facing the sanctions -- we speak exclusively to him. >> i will ignore trump, then with whom can he negotiate? if he calls me, i may not even answer. paul: electing a new parliament in the shadow of brexit. the brexit party hosting a strong result in northeast england. trump talks trade in tokyo after a weekend of sumo and sushi but there will be no deal on this visit. startedet's get you with the breaking headlines. we are seeing the brexit party taking the vote share 38% in east england. the conservative vote share is 10% in the east of england. the european parliament e.u. wide border turnout 55 percent, talking about elections in 28 union place with the brexit party of nigel farage taking a strong lead in that part of the u.k. in england taking 38%. let's get a look at how fx markets are reacting to the results out of europe. we have seen the euro and the moment.in gro

shery: i'm shery ahn in new york.n stanley slashes its worst case scenario for tesla's share price to just $10. the analyst team led by adam jonas said the demand is at the heart of the problem. tesla has grown too big relative to demand, putting great strain on the fundamentals. joins us with more on this story. this is of course coming on the back of red bush calling their troubles as a code red situation. for adam jonas to really deal tesla a blow like this is something. it was just a few years ago that he had a price target of $465 based on an autonomous vehicle business and rapid growth. asla itself has traded like growth stock. now you have very influential analysts saying where's the growth going to come from and if you look at first quarter sales they are definitely disappointing. expensive cars and the question i think a lot of analysts and investors are asking is how much appetite is there in the u.s. for cars that start around $40,000 with decent equipment and go up north of $100,000. so you make up the dem

shery: i'm shery ahn in new york.tal is getting closer to its acquisition of anadarko, this after sweetening its cash bid to 50%. here to talk about the latest development in oil m&a is the senior analyst at cowen. when we first saw this narrative, it was more like david versus goliath. at this point, doesn't make sense to go with a smaller player, given the terms of the new offer? >> i stay you can throw sense around -- out the window. it is a more -- it is a more superior offering at this point. chevron's than effective did, so now we're in a waiting pattern to see, does the anadarko board confirm it as a superior bid on the part of inidental, and what happens the days that follow, does chevron respond? amanda: interesting to see chevron and occidental trading higher today. what do we read into that about what the market is betting about the outcome here? >> difficult to say but most likely the market is deciding occidental will win the prize here with anadarko. i think you are seeing shareholders looking at occiden

shery ahn: i'm shery ahn of bloomberg world headquarters in new york.e kamaruddin in singapore. we're counting down to asia's major open. ♪ paul: here are the top stories we are covering in the next hour. trade talks resumed in washington with president trump saying the deal is still possible. even so, wall street closed with a fourth straight loss

i am pollyanna in sydney alongside shery ahn.ake a look at the global tech stocks. -- i am paul allen in sydney. emily: a proposal set for a shareholder vote at the facebook annual meeting. like to eliminate special class of shares and give early investors 10 times the vote of ordinary shareholders, but mike zuckerberg -- mark zuckerberg controls shares. and considering an entire investment in georgia if a law restricting abortion takes show,, where its films and like "stranger things." the new law is set to be enacted in 2020, and if it acted, several filmmakers say they refused to work in georgia if it passes. these remarks are significant, given that other companies have remained silent. and apple has unveiled its first ipod touch in four years, costing $199, and it will support new services including apple arcade for games. the ipod was an instant hit when it came out in 2001, but in recent years, it has been overshadowed by the iphone. these are the global tech stories we are watching. shery? shery: emily, thank you, so the

shery: i'm shery ahn in new york where it is 6:30 p.m."bloomberg daybreak: australia." let's get first word news with ed ludlow. reporter: the fed vice chairman says the central bank is prepared to ease monetary policy if it sees mounting risks to u.s. growth. however, he stresses the economy is in a "very good place" with inflation low. they say that risk assessment and not just data could be a trigger to the cut rate. >> we are attuned to the potential risks. if we saw a downside risk to the outlook, then that would be a factor that could call for a more accommodative policy. that is something in the risk-management area that we would think about. reporter: u.s. economic growth last quarter was revised down by less than expected. consumption was stronger than originally reported and so were exports. gdp expanded at an annual rate to 3.1%, down 110 from the original report. bloomberg intelligence says growth is dependent increasingly on consumer spending with business rattled by volatile markets and trade concerns. arab and muslim leader

i'm shery ahn the new york. paul: i'm paul allen in sydney. new u.s.hinese goods from friday. with us now. is we have this media briefing during which we heard that the sticking point now, china's reluctance to change laws surrounding intellectual property. is this going to torpedo the deal? steven mnuchin and said it was 90% done. what is the chance of bringing it back before new tariffs friday? scott: i think it is all up in the air. i have long expressed concern the paperwork along this a done deal for too long. i think the administration wants a deal, but they want a good deal. and negotiating with the chinese is hard, and there are still some big issues left on the table, including some of the ones that came up last week regarding laws that china needs to change, enforcement measures and the like. so, these are things which need to be addressed in order to get the deal to the level at which bob lighthizer can recommend to the president to accept them. paul: the difficulties of negotiating with china were brought to light by a guest we had earlier

shery: i am shery ahn in new york.mart rose the most since christmas in early trade after meeting sales estimates and indicating that will not pass on the costs of tariffs to consumers. u.s. sales climbed 3.4% through march marking walmart's best performance in nine years. it is expected walmart's response to paris will set the tone abroad. paul: boeing has finished an update for software linked to two fatal crashes of its flagship 737 max. says it has flown 360 hours on more than 200 flights with the new software. shares rose. shery: alibaba is facing complaints from six european consumer groups over allegedly unfair user terms for its online retail service. organizations from france, spain, italy, and the netherlands file complaints with the netherlands filing potentially unclear contract clauses in the e.u. the mysterious our terms for settling disputes between sellers and tires. paul: china's starbucks challenger has raised more than $560 million in expended ipo in new york. $17 apiece after initially marketing 30

. ♪ >> live from bloomberg world headquarters in new york, i am taylor riggs in for shery ahn.manda: live from toronto, i'm amanda lang. welcome to "bloomberg markets." your other top stories we're following around the world. another fed pick is out the door. resident donald trump says stephen moore is withdrawn from consideration for a spot on the board of governors, hours after moore told bloomberg he was all in. tesla's cash drain. the electric carmaker is hoping to raise $2 billion through debt and stock offerings. and hedge funds are resurrecting the cdo trade. why this time they say it will work. here.check on the market we are seeing a second day of declines, ahead of economic data, jobs numbers tomorrow. we are seeing some consternation around trade news and maybe some disappointment emanating from farmers of what happened between the u.s. and china. it is a down day. we are seeing energy one of the big on the s&p 500. -- one of the big decliners on the s&p 500. big names including caterpillar and disney weighing on this market. tesla is a bright spot, though. if you li

i am shery ahn in new york. amanda: i am amanda lang in toronto.ry, san francisco the first u.s. city and maybe not the last two band of facial recognition software for use by government agents these orc agencies that sell to governments. that includes the police. private businesses can still use it. i really interesting privacy issue that we have not tackled in many cities. because weld spread are seeing legislation being considered in oakland and massachusetts. capitol hill last month introduced a bill that could ban commercial facial recognition on the government side of things. we continue with these high sticks -- high tech stories and formerly known as we work they have launched in acquisition and management platform, it is the latest move for the ceo in his quest to turn the office space renting start up into his own landlord. here to talk about the challenges and the fury behind the strategy -- theory behind the strategy is the author of this in-depth story from san francisco. this investment vehicle, explain what it does. a way for wework

shery: i am shery ahn in new york.he tech sector retailers and energy stocks all took hits as .he s&p 500 fell su keenan was watching all of the action. goldman sachs believes this stalemate is going to go on for quite some time. they think the odds are higher for a lack of agreement, which will continue to weigh on the market, and we also saw, you know, a lot of other crosscurrents coming from earnings, which we will get you in just a minute, but retailing continues to be a big theme, and we got reports showing both sides of the story, which we will get you. we have got futures relatively flat, and as kathleen went through the fed minutes, it did not have a big impact on the markets. stocks stayed down. yields were still higher. let's go to some of the big movers of the day. target really came in with a surprisingly strong report on sales. there comparables were much higher. improving e-commerce. they surged the most in more than a decade. that really gave a more positive the trend ons the gloomy retail story. lowe's

i'm shery ahn. this is bloomberg. second part of our exclusive interview with huawei's founder as he addresses accusations of intellectual property theft. this is bloomberg. ♪ loomberg. ♪ david: the trump is still speaking alongside japanese prime minister aboard the japanese naval destroyer. once it is done they should be able to launch the f-35. at the top of your screen here. president wills. be visiting and giving a speech to u.s. troops later in the day before ending his trip in japan. leaders also sending their prayers to victims of a stabbing incident in tokyo this morning. moving on to a different suspect. huawei founder and ceo denies his company ever stole intellectual property and says president trump is targeting his company because of its success. he spoke to me exclusively at huawei's headquarters in shenzhen. likely the u.s. steals our technology. whether we have a government background, american auditors audited us. you can ask from them, right? this unfounded conclusion may not be right. we are leadin

i am shery ahn in new york. paul: i am paul allen in sydney.et a quick check of the latest business flash headlines. orders is reporting amazon is interested in acquiring -- amazon could buy boost for an attached wholesale deal, allowing them to use t-mobile wireless network for at least six years. it would approve the merger of t-mobile and sprint if they sold boost. shery: activist investor carl petroleum with seeking a sale of the company. the billionaire investor says -- $1.6 billion stake in occidental and those not like the decision companyre a petroleum for $38 billion. he says occidental's board and management are in over their heads. paul: u.s.-china trade war has landed a blow on a couple high-profile brand names. collin klein and communal figures parent company -- tell hilfiger's -- tommy parent company -- disappointing chinese new year sales were a direct result of the trade dispute. we have just had the latest readings on japanese employment and tokyo inflation. let's get some insights into japan's economy and markets from our next

shery: i am shery ahn. .ophie: and i sophie kamaruddin we are counting down to the major market opens. paul: our top stories this wednesday. asia civic stocks are set for heavy declines after president pushes terror threat items down. china confirms talks in washington, but officials also say retaliatory measures are being prepared against u.s. goods, and lyft sees a brighter future as performance beats expectations, but there is worry about ballooning losses. shery: we have breaking news out of south korea, the current account balance, the surplus at surpluslion, the larger 4han previous months, also $8. million much higher than the previous month in february. of course, we had seen exports take a hit in south korea despite the fact that exports fell for five consecutive sessions or five consecutive months. we are now seeing the surplus in the trade, in the current account balance coming in higher than the previous month of march billion. let's get you a quick check of markets closing. downside pressure across the board in the u.s. with all 30 stocks on the dow falling, and we also h

if you're ahn -- if you're an unaccompanied minor from central america, under our law, we can only hold you 20 days. at d.h.s. then we turn you over to labor-hhs. 98% of the unaccompanied minor who make to it america from central america never leave the united states. so families know this. word is out on the streets in the northern triangle countries that if your child can get here by themselves then the chance of them staying in america is almost 100%. we're incentivizing a horrible journey. we're providing incentives to people to send their children by hiring a smuggler through hell to get to this country. only god knows what they go through to get here. under our law, if you come as a unit, family unit, and you have a minor child, we can only hold the family for 20 days. because we don't want to separate the family. we don't have enough detention bed space, we release the entire family after 20 days. so word is out on the street in central america that if you bring a minor child with you, your chance of being deported goes to almost zero, your hearing date is years away, and we rele