david: thank you so much to brooke sutherland.nathan: from new york city, meet jonathan. 30 minutes until they start of trading. this is the countdown until the open. -- i am jonathan ferro. 30 minutes until the start of trading. this is the countdown until the open. coming up, the s&p 500 nearing all-time highs, two days from ranking up the longest bull run on record. gathering in jackson hole, wyoming and elon musk slapping down calls to take time off. the stock slipping in premarket. away from the opening bell after a week of gains, the s&p 500 up 300 points. up .1%. in the bond market, yields are lower. the dollar stronger in g10, back to $114.23. the event of the week, central bankers gathering in jackson hole. markets looking for hints about the fed rate hike path of the outlook on the economy. >> the only thing the fed has to fe

lisa: brooke sutherland, always with great insight. is a fantastic columnist for bloomberg opinion. read her stuff. up next, shipping shakeout. hear from the ceo of merrick on plans to streamline the structure and focus on the core transport business. this is bloomberg. ♪ scarlet: this is bloomberg markets. i'm scarlet fu. lisa: and i'm lisa abramowicz. maersk has announced plans for a different drilling unit at that's step -- as it goes to a step towards its complete exit from the energy industry. they want to focus on their core transport business. the ceo spoke with bloomberg's matt miller. take a listen. >> we have looked into all drilling andass we think this will add a lot of value for our shareholders. there are a lot of companies in the drilling sector, but not companies with strong balance sheets. all the companies involve some kind of merger. because we are well --, we might end up having more exposure rather than less. we think this is a good solution and it will allow our shareholders hopefully to remain invested in a compa

alix: thank you so much, mike mckee and brooke sutherland. and you can find all of these charts at gtv , you can check it out, all the charts we are going to use, come and to save them to your computer. alix: we are waiting for the public address from erdogan. we will discuss the fallout in the asset class and the spread to emerging markets. this is bloomberg. ♪ >> this is "bloomberg daybreak." largest discount airline is taking its biggest target its history today. pilots walking out in a bid to get better contracts from the company known for its pennypinching. forcing ryanair to cancel at least 400 fights. the struggling british department store chain has been rescued. is scooting up the stores, as well as the brand name, for $115 million. that came after house of fraser went to court to seek protection from its creditors. shares of overstock.com soaring. 375has agreed to invest mind dollars in exchange for equity in the online retailer and its lot chains it's a very -- blockchain subsidiary. and that is your bloomberg business flash. j

still with us is brooke sutherland. the dog bit didn't bark. we were all waiting for this.s to be a running theme. thedy wanted to raise allegations -- i would say that it is a much bigger red flag at cbs. there's no reason that they should have not addressed it, and that analysts didn't ask the question. na callsack to an where companies are speculated to be in talks with each other. they always start off the talk talk we aren't going to about the deal. analysts still talk about the deal, they'll back into it and ask roundabout questions. so i think -- i'm stunned that nobody bothered to raise the question. julie: sometimes companies will argue that it is not material. you can't argue that this is not at least potentially material to the business, if indeed the allegations turn out to have merit and there's some sort of management change. if he leaves cbs, that is material, i think you could say. david: even if it does not prove to be true and he doesn't leave, there will be an outside investigation hampering the company, limiting what they can do. it is going to consume m

brooke sutherland, thank you. coming up, the fed's preferred inflation gauge, july pce.f citigroup will join us. this is bloomberg. ♪ pce: moments away from data. welcome to "bloomberg daybreak." i am alix steel. up by about 4%. dax down. potentially the eu will consider no tariffs with the u.s. on autos. the dollar is kind of flat on the day but the euro is weaker as inflation data disappointed for eurozone, as well as germany. in the u.s., core pce -- wow, pretty much in line with estimates. year on year coming in at 2% on a month on month basis. line with estimates, and grinding higher, up .1% month on month from the previous read. personal spending also pretty solid.. income missing on estimates, up by .3%. spending coming in in line, .4%. steady as she goes. this will not rock any boats. david: you can say it is grinding higher, which is right. this of the target was 2%, and they are at 2%. -- they said the target was 2%. alix: consumer spending is extending gains we have seen. when you look at a fed that differs from the market in terms of their hikes, this support

brooke sutherland, bloomberg opinion, thank you very much. michelle gerard will be joining us.is bloomberg. ♪ alix: this is "bloomberg daybreak." i am alix steel. happy wednesday. just a few minutes from the second quarter gdp. s&p futures in touch negative after setting a record yesterday. equities inching their way up into positive territory. the dollar declined on the euro-dollar. a breakthrough at $117, now we are back at $116. the lira is still getting pounded. interesting, we have a revised upward revision to 4.2%, despite the fact that personal consumption was revised down slightly by .1%. third quarter say the same at 2%, but second order gdp revised up 4.2%. that is interesting. david: i know the number the white house. about, because it was 4.1%, you remember, the first reading, and people thought it would go down, and now it is 4.2%. alix: how long can something like that last? can it sustain? can you get it in the fourth quarter? you look at the trade data, that would apply these are order is not going to -- the third quarter is not going to move up the same kind of

we welcome brooke sutherland, looking at another effect.exposure to mexico. they do a lot of business between mexico city and texas and businesses. you saw them jumping pretty significant yesterday on the preliminary deal. a big part of why you saw that john is the case for them is mexico exposure. that offers unique volume growth opportunities that the other railroads do not have. there has been a cloud over that given much of the business comes from automobiles. david: is this because the new deal will increase trade? or is this reversing what had happened because they are worried it was suppressed? latter.it is more the this more eliminate the worst-case scenario for kansas city southern. on see a maximum 25% tariffs automobiles, that would crush the business. ,nother thing is the new nafta doesn't change the game for cars out of mexico. a lot of them already comply with the 75% made in north america requirement. there is only a few models that will be affected. still questions around the wages requirement. there is not necessarily a cha

sutherland,- brooke thank you very much.eck as well as the risk off day continues in the markets. this is bloomberg. ♪ alix: this is bloomberg daybreak. moments away from retail sales data on this risk off day. the dow jones future off by triple digits. other asset classes, it has been a buy bonds, sell commodities and buy the dollar kind of day. commodities continue to roll over. -- will retail sales be enough to help the indices? the retail control group also better than expected. for july, up 5/10 of 1%. interesting read through, it feels like that is a solid report coming from retail sales and trending deeper. david: we've got a lot and it was over estimates for a month. alix: nonetheless, it is a pretty broad base. there was some buying and retail like clothes. a lot of restaurants. that is a solid consumer spending game. the question always beating, is it going to be enough to sustain that 4% we saw? will that be able to drive going forward? david: labor costs actually went down. alix: because wage gains had not really