david: we turn now to mark crumpton.omey says he believes president trump's political attacks on the fbi are making the country less safe. in an interview with the ap today, he says the presence was tax -- president's blistering undermine the bureau public faith in the agency. the united nations security council delegation today stressed the importance of thousands of muslims returning home to bangladesh do so under favorable conditions. the u.k. ambassador to the u.n. say there should be an investigation on why they were forced to flee. >> there must be a proper investigation. one can tell stories, but in order to have accountability, you need to have a proper investigation with evidence. there are two ways of doing that, one is in the international criminal court, the second would be for the burmese government to do that themselves. bangladesh.n. and for themalized an mou repatriation process to be under international standards. swiss police say a sixth person has died after an unexpected snowstorm trapped a group of a

i'm mark crumpton. this is bloomberg. ♪ u.s. inflation rising less than forecast in april. that is giving the fed some breathing room on interest rates. brian.now joined by let's talk about the 30-your auction. >> i think it was by all indications -- 30-year auction. >> i think it was by all indications quite well. people who are investing in that, it is pensions, life insurers, but quite strong demand. inflation report was not as scary to investors as one might of thought. noteet: we had the 10-year so that almost 5%. there is concern about the ability of the market to absorb all this issuance. >> if you raise the yield enough, they will come, more or less. the 10-year, people were waiting to see if it would get a 3% coupon. a did not quite get there. the 30-year is at 3.13%. the curves are flattening, twos, tens,s the the fives, 30's. inaction,e all that inflation playing a key role, staying sort of subdued, not anything multi-scary. julia: a huge sign of relief with the inflation number. you can see

now to first word news with mark crumpton.the death toll clashes along the israeli-palestinian border now stands at 52. another 1200 palestinians have been wounded by israeli fire. the violence comes as the united states formally opened its new embassy in jerusalem. the u.n. secretary-general expressed concern about the escalating violence in gaza. >> we see a multiplication of new conflicts. newsworried today with the about what is happening in gaza already with the higher number of people killed. audio muslimld majority nations, i-57-member organization, says it strongly 'sndemns the white house deplorable action to move the usmc to tel aviv -- and israel tom television -- tel aviv jerusalem. said the u.s. has lost its role as mediator in the middle east peace process. the latest round of nafta talks ended friday without a deal. the unofficial deadline to get any agreement through the u.s. congress is this week. former mexican president vincent a fox tells bloomberg television that if mexico does not get a good deal and an i

mark: i'm mark crumpton.nited nations security council is meeting to discuss deadly violence at the gaza border. ahead of the meeting, israel's ambassador said hamas should be condemned for the violence. it is said that israeli troops were defending their borders. he accused hamas militants of trying to attack under the cover of protest. casualty that has resulted from the recent violence is a victim of hamas's war crimes. they are fully the responsibility of hamas. who claimedeveryone that the u.s. embassy move is to blame for palestinian post-e -- palestinian's violence needs to look at the facts. mark: the massacre said it was an orchestrated move by hamas and plan what it called days of rage in advance. turkey's president earned one plans to -- president erdogan itst -- plans to tighten monetary policy. the turkish lira has hit an all-time low. he spoke to guy johnson in an exclusive interview. imagehave to give up the of a president who is influential on monetary policies very >> you will play a role in

david: we turn now to mark crumpton.k: republican leaders have sounded the alarm over today's west virginia senate primary. they are worried about a late blankenship who served prison time and launched racially tinged attacks against senator mitch mcconnell's wife. republicans are worried that he cannot win the general election against the incumbent democratic senator. while impeaching president trump would be popular in her home district, nancy pelosi said talk of impeachment is a distraction for democrats while they attempt to retake control of the house. she said house members should focus on policy issues such as affordable health care. carryingonvoy of buses opposition fighters have left syria. the evacuation is part of an agreement reached last week between insurgents and russia for those fighters to leave the area or surrender. the syrian government will take control of the area after all of the rebels have left. french president emmanuel macron led ceremonies today following 73 years since the defeat of the nazis

i'm mark crumpton.s is bloomberg. ♪ david: the united states is in the process of to curtail nuclear weapons. one with north korea and one with iran. we welcome now a lawmaker with oversight responsibilities for both of these, republican congressman mo brooks from alabama. he joins us now. the houseer of caucus. good to have you here. into what theight u.s. policy is toward these north korean negotiations. over the weekend, we heard john bolton be pretty tough on what the north koreans had to do libya.-- parallel with -- the white house seems to be packed cuddling. -- the white house seems to be backpedaling . >> technically, we are still at war with north korea. there is a temporary cease-fire that has more or less kept peace over that subsequent 1952-1953 timeframe. it would be nice if we had some treaty with north korea and south korea that would formally end that wqaar or conflict with those two nations. long-term, what i hope we will see out of this in the context of nothing ventured, nothing gaine

first word news with mark crumpton.resident trump's choice to head the central intelligence agency is testifying after a senate confirmation hearing today. gina haspel is promising that the spying agency will not resume waterboarding and other techniques used on terror suspects following the 9/11 attacks. >> for me, there is no better example in implementing lessons learned than what the agency took from that program. , asetrospect, it is clear the report concluded, that the cia was not prepared to conduct a detention and interrogation program. mark: her opponents say that her role in interrogating suspects has not been fully disclosed. theresa may told parliament that number been clear in a of conversations with president trump that the nuclear deal with iran should remain in place. >> we continue to believe the iran nuclear deal was an important step forward in helping keep the world safe. there are other issues to be worked on, and i and the foreign secretary will continue to work on those with our european and other

david: we turn now to mark crumpton. airlines plane flying from chicago to new jersey has been forced to land in cleveland after one of its windows cracked. safely.d the emergency landing comes two weeks after southwest jet made an emergency landing in philadelphia after an engine explosion and a blown out window. one person was killed in that incident. federalt trump once a judge to dismiss a lawsuit claiming he violated the constitution by accepting he is a new and from legal action in his capacity resident. the lawyer also says mr. trump cannot be sued as an individual and two black men arrested for sitting at a philadelphia starbucks without ordering anything has settled with the city for a symbolic one dollar each and a promise from a scioscia -- from officials to set up a $200,000 program for young entrepreneurs. the men's lawyer outlined the agreement to the associated press. shawn nelson and dante wilson were arrested. they were waiting for a business meeting about a potential real estate deal. in armenia, opposi

i am mark crumpton. this is bloomberg. haidi: thank you. australia,n daybreak president trump hinting china played a part in the collapse of the north korea summit. later in the show, we ask if that could affect ongoing trade talks. , geopoliticalead risks and trade tensions as asian markets get set to open. this is bloomberg. ♪ haidi: i am haidi lun in sydney. in newi am betty liu york. you are watching daybreak australia. wall street stocks close lower after climbing back from early losses. president trump canceled the north korean summit. that is the story today. jason, you know, every day, we seem to be moving back and forth on these headlines. first off, what do you make of that and the health of the markets? what is your biggest concern right now? jason: the first part, i think you saw movement today as emblematic of how investors are thinking about this. there is initial reaction, and then it crawls back. it's a shrug of the shoulders. it's day today. if you look at the vix, it's around 12.5-13. over 30.ry, it was even in march when

i'm mark crumpton. this is bloomberg. shery: the senate judiciary committee has released new transcripts related to the june 2016 trump tower meeting. russians promised to deliver damaging information about hillary clinton. joining us now from the white house with more is kevin cirilli. course time the trump junior's account of what happened in that meetings are being made public. we already have several accounts from people involved in that meeting. anything new that we found out today? >> so far nothing new regarding the june 2016 meeting between top trump campaign officials including previous trump campaign chairman paul manafort as well as donald trump, jr.. regarding what they had thought they were going to get court" political dirt on hillary clinton. becomes what democrats are saying if this is going to add anything new to bob mueller's investigation which is separate. the senate judiciary democrats released a statement saying that they believe this shows that the trump camp -- campaign officials drew frustrated an

i'm mark crumpton. this is bloomberg. ♪ scarlet: -- julia: we are 30 minutes from the close of trading in the u.s. joe: the question is, what you miss? scarlet: the five star movement and league have reached an agreement on a cabinet ministers. the u.s. versus its closest allies, the decision to impose tariffs on steel and aluminum sparked swift retaliation. ahead onotors getting the self driving race. julia: allies vowing retaliation after wilbur ross announced that the u.s. will proceed with tariffs on steel and aluminum from europe, canada, and mexico. international correspondent mike mckee joins us now with the latest. q could it be in a better place -- you couldn't be in a better place. disappointment and surprise from the trade partners of the united states. nafta is dead as a result of this. : nobody really knows what the administration wants to get out of these tariffs. no one knows where we go from here. steven mnuchin will be arriving later this afternoon and plunge into bilateral meetings. ea

i am mark crumpton. this is bloomberg. ♪ julia: live from bloomberg world headquarters in new york, i am julia chatterley. scarlet: and i am scarlet fu. joe: and i am joe weisenthal. julia: we are 30 minutes from the close of trading here in the u.s. energy stocks on fire as brent crude is $80 a barrel for the first time since 2014. joe: the question is -- "what'd you miss?" scarlet: the president meeting with an envoy at the white house while the nafta slips by without any resolution. the boardroom meeting at 5:00 p.m. today to decide whether or not to remove the redstone's family power. and greenlight capital's david einhorn at a crossroads. star stuck in his old ways. "what'd you miss?" all eyes are on beijing's delegation in washington as they continue working to hammer out a trade deal. who is income who is out, and which chinese officials are getting a white house welcome? paul ryan's deadline for a new pack for nafta is today. speak orion told reporters he is willing to give negotiators some wiggl

david: mark crumpton has more word mark: headlines.in washington today meeting with mike pompeo. he will spend the next two days meeting with administration officials as president trump decides whether the u.s. will remain in the iran nuclear agreement. the trip follows recent visits in weeks by the leaders of germany who also tried to convince president trump to stick with the deal. negotiators from the three nafta nations try again this week in washington to come up with a revised trade deal. after eight months of talks and a number of contentious issues, the u.s. is germany who also tried to threatening to impose tariffs on steel and aluminum from canada and mexico deal.y cannot agree on a the european union says it will begin investigating crimes says it will begin investigating crimes committed against at the serbs during kosovo's war for independence. bloody war ended with a 78-day nato air campaign in 1999. the court has yet to hear any cases. a man accused of killing four people at a tennessee waffle house last month will under

i'm mark crumpton. this is bloomberg. julie: live from bloomberg headquarters in new york, i am julie hyman in for julia chatterley. scarlet: and i am scarlet fu. joe: and i am joe weisenthal. "what'd you miss?" scarlet: the 10-year lead is pushing up. joe: but the question is "what'd , you miss?" scarlet: protesting a decision for tariffs. now, targeting wall street. the crypto exchange has new institutional products. we have the details up ahead. anchor "what'd you miss?" :north korea's threatening to cancel a meeting. ,or now, we have michael hirson with eurasia. you came in to talk about china and zte and trade. we will get to that in a minute, but in your time spent covering the region, is it typical to have this sort of fits and starts, and should we take it as a dead and now or that this is all part of the negotiation, if -- as a dead end now or that this is all part of the negotiation, if you will? could be an emotional or rhetorical response by north korea, and now there will probably be some behind the scenes di

. >> i'm mark crumpton.resident trump suggested today that a planned historic meeting with kim jong-un could be delayed, saying the summit "may not work out for june 12." he raised the possibility the meeting could be pushed back during a white house summit with president moon. house republicans who attended the private meeting on capitol hill this morning say house .peaker paul ryan is frustrated another congressman said ryan wants republicans to band together, especially when it comes to immigration. it led to a house rejection of the gop bill. house makers plan to vote on immigration policies late next month. the european union approved trade talks with australia and new zealand. move as a boost for global trade in the face of what they view as increasing u.s. isolationism. the carry's economy minister told reporters at a news conference in brussels that a free trade deal with australia and new zealand could benefit several sectors, including chemicals, processed foods, and services. the eu's trade commis

let's get you the first word news from mark crumpton.hite house says it can't confirm the validity of reports about three americans being held in north korea. a short time ago, press secretary sarah huckabee sanders said, if north korea were to release them, the trump would view it as a sign of goodwill. the director of the nongovernmental organization that helps facilitate talks between spain and the basque military group eta, said in demand -- it's disbanding. unilateral is a declaration in which they say that they want their problems to be resolved peacefully. i think the end of violence and terrorism is good for everybody, and i think that is a good , notge for everybody else just catalonia. mark: it has been praised as the end of a 60 year chapter of violence. rela has summoned -- sergio macarala has summoned leaders after two rounds of talks between the populous --e-star movement and its and the centerleft democratic party. he could promote a truce government to lead italy through 2018 and hold an election in 2019. the bombing of a

i am mark crumpton. this is bloomberg.s walkingk schumer a political tightrope by putting the protection of vulnerable democrats ahead of party unity in congress. senator schumer has stood aside on key broke party ranks votes this year. will his political calculations pay off? let's ask kevin cirilli who is at the white house. it is a tough year for senate democrats. how many seats are on the line? kevin: a handful. look at heidi heitkamp and joe manchin, two candidates who are in tough reelection fights. spoke with two democratic strategists who told me they are not so sure chuck schumer will be able to carry the upper chamber and make the gains necessary. according to these strategists, the expectations of the type of gains democrats have been talking about in the house of representatives now appear to be a little bit decreased in terms of the gains they are expected to make. fluid,this is very particularly on geopolitical events like north korea. terms of domestic events, democrats have done a significant effort at fram

. >> let's now get to the first word news with mark crumpton. mark: three americans in britain and north korea will be released today according to rudy giuliani who recently joined president trump us his legal team. he made the announcement after the president mentioned the u.s. prisoners in a tweet. the three are reportedly receiving medical treatment. last year, he was returned to his family in a coma. the us military launched an investigation into wednesday's crash for a cargo plane that killed nine puerto rican airmen after takeoff in georgia. in -- they call routine maintenance in arizona. to belgium as -- approaches. what a nice british citizens work in the eu, some of whom have lived in elgin for years and have pension plans and fear for their future after britain leaves next march. more than 100 people are dead and another 300 injured after a powerful rainstorm swept through parts of northern and western india wednesday night. ton trees and caused housing collapse. the monsoon season is still more than six weeks away. global news 24 hour

i am mark crumpton. julie: donald trump has whether to scrap or keep the nuclear a -- nuclear deal with iran. iran are likely to return. prices pushed past $70 per barrel. , head of commodities $17 by theives summer -- to what extents is the collapse in the oil price, d think? >> we have a target now for the summer. we think it is coming from venezuela. it has come off by around 700,000 barrels per day. in the last 12 months. this is going to exacerbate the problem. it is only partially priced in. >> just the -- to be clear, remember, the markets has been coping or trying to cope with a major supply less. i highly doubt we will see a expert.on of oil potentially coming next week. i am not sure it is something the administration wants to do ahead of the midterm election. 180 days or maybe nine months, i don't know. the physical markets, i don't .now >> what is the position signal if the president delays the thesion or perhaps negotiation of the iranian nuclear deal? it doesn't jump early next week. by 180

i am mark crumpton. this is bloomberg. david: thank you.eek ago, president trump laid out his plan to bring soaring drug prices back to earth. in previewing the plan, his secretary of health and human services promise fundamental change. >> some of them will be very disruptive changing of the entire system concepts we will be laying out, saying we need to have a national debate and discussion about a complete reform of the incentives and approaches in the drug channel system. david: we welcome one of the best members of congress to put this in context, but he carter from georgia -- buddy carter from georgia, the only pharmacist in the united states congress and he knows about drugs. thank you for being here. i want to quote and analysts who says that instead of a final change, this was making some change on the margin we think the industry was moving toward anyway. make for plan fundamental change in the health care system? >> the devil is in the details and is we get more into the implementation, we will see how much impact it can have. he

i'm mark crumpton. this is bloomberg. julia: live from bloomberg world headquarters in new york, i am julia chatterley. scarlet: and i am scarlet fu. joe: and i am joe weisenthal. julia: some up trading in the u.s., some giving up earlier gains. truce perhaps overshadowed by questions about north korea. joe: the question is "what'd you , miss?" the president saying there is a substantial chance the meeting with north korean leader kim jong-un will not wake -- workout. and the commerce department cut off a company from its u.s. supplier. and carrying to medication satellites. we will bring it to you live, later this hour -- and carrying communications satellites. we will bring it to you live. about thenking strength of the u.s. economy with the release of the fomc minutes. any are expecting it to raise rates next month to stay ahead -- many are expecting it to raise rates next month to stay ahead. saying do not panic about inflation. really, do not panic. yes. i have been trying to push that with clients this year. demand,

i'm mark crumpton. this is bloomberg. mark: -- joe: still with us is meb faber. asset class this year's commodities. we are starting to see retail flow into commodity etf's. folks i goldman coming out and saying if there is moreland to run. how do you think about value and commodities and is there a case to be made that should be part of people's portfolio? meb: if you look at asset classes in general, we tell people you have to be asset nostic.-- asset class back a handful of years, mid-2000, everyone loved commodity. every institution was getting in and all the funds were getting marketed. you had commodities rip roaring bull market. then they got pummeled. they have been terrible over the past 10 years. you had a situation where all of a sudden, we wrote about this in a book where we talked about when you have asset classes are down multiple years in a row. it is a rare scenario for them to be down to the income of three years in a row. you saw this happen with emerging markets in commodities and ending in 2015. in 2015, no one wanted commodities. universally

julia: now an update with mark crumpton.rump signed a right to try act today, allowing terminally ill americans to test medication that has not been fully approved by the food and drug administration. meantime, the president says he expects news from the u.s. drug industry within the next two weeks. >> i have some big, some of the big german companies -- drug companies in two weeks, and they will announce voluntary massive drops in prices. mark: the right to try act also expands access to life-saving treatments, years before patients would normally have been able to access them. president trump is going after his own attorney general again. in a series of tweets, he said he wished he had a picked somebody other than jeff sessions. expressed hisly frequently -- expressed his unhappiness that he recuse himself from the investigation. today, additional records about the deadliest mass shooting in modern u.s. history. for the courts order the release of public records, including police body camera video, dispatch logs, witness a

let's get to our first word news with mark crumpton. mark?foreign secretary born johnson -- boris johnson says the u.s. relocation of the embassy to jerusalem was "a troubling move." he discussed the ongoing violence today during a meeting with the french foreign minister. secretary johnson: we understand that some people have been provoking that violence, but on the other hand, there has got to be restraint in the use of fire. in the united kingdom, we do not agree with the position of the u.s. to move their embassy. remained absolutely committed to a two-state solution. military sayseli there were no border breaches during demonstrations today in what is being described as the deadliest day of violence since the 2014war. twitter 50 palestinians were killed and another 12 wounded by israeli fire. the -- 250 palestinians were killed. former mexican president dissented fox tells bloomberg mexico does not get a good deal on nafta, "mexico will just be happy with withdrawing. we are already working on plan b." unfortunately, senor trump has been

i'm mark crumpton. "bloomberg technology" is next. ♪ emily: i'm emily chang, and this is "bloomberg technology." coming up, tesla's tantrum. elon musk was blunt with shareholders in an highly unusual earnings call. startups have been catching up to silicon valley. we got up with a partner at union square ventures. the largest public offerings in years. omi filed to go public with an eye-popping $1 billion valuation. tesla ceo elon musk heated conference call after the company reported earnings wednesday. turned out musk's responses overshadowed the company results, which the expectations. then came what an analyst described as a truly bizarre earnings call, where musk had a blunt message for investors. >> if you are concerned about volatility, you should buy another stock. do not buy it is volatility is scary. there you go. emily: musk was especially combative with two analysts in this exchange. >> where specifically will you be -- elon: next. more boneheaded questions are not cool. next. >> can you let

this is bloomberg. ♪ ♪ i'm mark crumpton.eculation prime minister theresa may might have rejected unions plan last week. greg clark tells the bbc the partnership plan is still on the table. if former homeland security and counterterrorism adviser to president obama is teaming up with a group that provides free counseling and legal advice to the families of hostages. --has been an ounce announced that up to 200 americans are kidnapped overseas each year. it was cofounded by hostage u.k. this was after the american journalist was captured and beheaded in 2014 by the islamic state. a spanish aid group says the health of 105 migrants rescued in the mediterranean is that ms. -- is at risk because their transfer to save port is not being followed. driftingd the migrants at sea on a riverboat on sunday. the u.n. says more than 600 migrants have died crossing the year.rranean so far this u.s. and philippine forces began annual military exercises today. it was the largest since roderigo came into power in his country. the exercise is

i'm mark crumpton in new york. "bloomberg technology" is next. ♪ emily: this is "bloomberg technology". apple shares hit a record after warren buffett makes another egg -- another big bet on the stock. amazon lost out to walmart, giving them an e-commerce edge in southeast asia. and the u.s. trade delegation heads home after two days of talks. what it means for the tech industry and asia going forward. but first to believe. shares of apple hitting a new all-time high pushing the tech giant to striking distance of a $1 trillion valuation. warren buffett told cnbc he bought an additional 75 million shares of the iphone maker in the first quarter, expanding his already large investment in the company. for more on apple and perspective on the sector, let's bring in kevin kelly. i will start with you -- a big vote of confidence from buffett. what is your read? >> going through a white knuckle period over the last two weeks, you have the buybacks, and now you really get into june september quarters, a massive product cyc

david: mark crumpton is here now. the united nations was there for human rights is condemning the killing and wounding of palestinians by israeli troops at the gaza border. "appalling, it as deadly violence." >> we are extremely worried by what may happen later today as well as in the weeks ahead. we urge maximum restraint. mark: the un security council is meeting today to discuss the violence. u.k. foreign secretary boris johnson says britain and its partners remain fully equipped upholding the iran nuclear deal. not inelieve i read was breach of the jcpoa. last week it was not in breach of the jcpoa. we believe there are advantages upholding the core of that deal. signatories of the 2015 deal to stop iran from completing its nuclear weapons iran's primeith minister as concerns increase that u.s. sanctions could jeopardize european business interests. imposed sanctions on the governor of the central bank of iran. being sanctioned for his role in moving millions of dollars to has a lot. hezbollah. in london, clashes b

i'm mark crumpton, this is bloomberg.avid: president trump and his team have kept up the criticism of robert mueller and his russia investigation with repeated questions about whether the theident will bring investigation to a halt or fire jeff sessions. we welcome a member of the house judiciary committee, democratic congressman david cicilline, who comes from providence, rhode island. we are talking about what is going on with the justice department and jeff sessions. but first, the big news of the day are these tariffs imposed later -- imposed later tonight. -- -- tonight at midnight. we are getting a reaction from capitol hill. -- committed toent renegotiating nafta, but the tariffs have to be done carefully and are -- and be don'tly calibrated, and launch a trade war. it is unclear to me what the president's strategy is. these are important allies. there a real problem with the chinese. name and delete their currency, steal intellectual property. we ought to be crafting solutions to respond to that in a targeted way.

i am mark crumpton. this is bloomberg.: voters head to the poll tomorrow, totates, vote in congressional elections in primary races to determine who is on the ballot come november. republicans are racing against history will democrats are focusing on carving out enough wins to get back in the majority. national political reporter is in washington with the leader -- with more. the president pushed us towards west virginia with a tweet over the weekend telling people to vote for either candidate, just not one. talk us through what happened and why he thinks it is important. >> president trump getting involved in the west virginia primary, urging voters not to support don blankenship, a fairly controversial former colbert and who served jail time and said inflammatory and racist attacks against mitch mcconnell, the syndicate -- the senate republican majority leader's wife, elaine chao, this is us republicans fear a top like a chip victory, internal polling leaked by republicans that show blankenship has been surging in the fi

i am mark crumpton. this is bloomberg. ♪ julia: live from bloomberg's world headquarters in new york, i'm julia chatterley. we are 30 minutes from the close of trading in the u.s. stocks taking back tuesday as office -- losses per financials led. >> the question is, why did you miss. >> inside the trump administration, peter navarro --s steve mnuchin was wrong on china. this for washington talks. italy's pluto crisis easing today. what the limbo will mean for italian assets just ahead. this for washington talks. walmart wants to retain employees by sending them to school. the retailer will subsidize college collision bills as part of an effort to reduce turnover and earn goodwill. ,> breaking news just crossing 3-0 to seek comments on a rule overhaul and specifically if they want to loosen what we have seen in the rules as far as cap -- tech in trading. if you're holding something for less than 60 days, they want to relax some of the rules or this opens up a 60 day public comment time. the overhaul.n aet

let's check in on bloomberg first word news with mark crumpton. reporting,'ve been under detention in north korea are back on u.s. soil. president trump greeted them outside washington. kim jong-un freed the men while mike pompeo was in pyongyang. all.want to thank you it is very early in the morning. i think you broke the all-time history and television rating for 3:00 in the morning. i want to congratulate these three great people. mark: and president trump and kim will meet on neutral turf next month. set fororical summit is june 12 in singapore. they have security partnerships with the u.s. and have a north korean embassy. chances of a populist government have gotten a big boost. droppederlusconi has his opposition to the idea. he has pledged he is open to the antiestablishment five-star anti-immigrante league ruling together. more than 40 people, including at least 20 children, were killed when a dam burst in kenya. missing.le remain kenyan authorities say nearly 170 people have died since march from floods caused by heavy rains. danger foral

i'm mark crumpton, this is bloomberg.we are waiting a speech of president trump at the nra leadership association convention in dallas. we are joined now by our reporter who covers the gun industry to give us a quick preview. polly, great to have you with us. we wanted to talk about the president's current stance and far -- as far as current gun control is concerned, but who is at the event? what are we expecting to hear today? polly: we are hearing of the members. it is not about membership. there are almost 900 exhibitors that will attend, but this is really for the rank and file, people that have an nra membership and like to attend to support the movement. this is a social event for them. scarlet: a grassroots event, almost. polly: absolutely. scarlet: the president will be speaking there. he has spoken there for a couple of years in a row. polly: this is his fourth year he is speaking there, and this is usually a patriotic message he delivered and is also speaking to his base here. --have to never that and remember t

i am mark crumpton. this is bloomberg.bigail: thanks. u.s. stocks are paring their losses after president trump's decision to cancel his summit with kim jong-un. we are joined now. it is terrific to have you here. i cannot think of a better guest to talk about everything happening especially considering earlier today, the major averages had been down about 1% and are now modestly lower. investors seem to be looking once again.dline it seems it could be the noise. how do you make sense of this and tired into the sideways range we are seeing for the us the 500 is here? is it more back and forth up and down? >> thank you for having me. are alwaysl risks there and always present whether we are aware of them or not. this is a good example of the fact that there are no easy answers to complex problems. this has gone back and forth for a while as has the u.s. china trade. trade developments, and even the iran problem has sort of come back. there are always going to be things to worry about geopolitically and it is a good reminder

i'm mark crumpton. this is bloomberg. julia: live from bloomberg world headquarters, i'm julie chesley. scarlet: i'm scarlet fu. julie: i'm julie hyman. julia: stocks mixed in light trading. scarlet: the question is what you miss? stormy clouds over trade. china cast doubt on things saying it had the chance to lower trade. staring down the dollar. hedge fund managers go head-to-head with top strategists over the direction of the u.s. currency. and venezuela votes. the trip administration -- the trump administration. julia: robert lighthizer says the u.s., canada and mexico is nowhere near a deal to renegotiate nafta. china is pushing back on reports of an offer to reduce its annual trade with the united states by $200 billion. we're joined now by mike mckee. great to have you with us. i was talking about the hot mess of the trade negotiations. talk about nafta. that was supposed to be the easy part of this. >> yes and no. it is a three party negotiation. advisorident's economic says nafta is not dead. that is true. you ha

i'm mark crumpton. this is bloomberg. it is 1:00 p.m. in new york, 6:00 p.m. in london, and 1:00 a.m. in hong kong. i'm shery ahn. quinn. and i'm vonnie welcome to "bloomberg markets." ♪ >> from world headquartered here are the top stories that we are following. seeing red. stocks decline led by energy and industrials. protecting privacy and we will hear from former microsoft ceo and l.a. clippers owner steve omer on facebook's new feature to help your data safe -- steve ballmer on facebook's new features to keep your data safe. also coming in after the closing bell. julie hyman is with us as we are halfway into the trading day. i only see red on the board. julie: red because of earnings because of economic data. the dow is doing the worst of as we getaverages, weight from some of these economic data reports. when i talk about economic data, we have u.s. manufacturing. we see the drop in u.s. manufacturing in the month of april. it expanded at the slowest pace since july. prices rising for the fifth consecutive month. we

i'm mark crumpton. this is bloomberg. shery: thank you.instrvative ryan's bill that included major welfare reforms. the dissent has put the immigration spike on centering the house, dividing the republican conference among hardliners and moderates, threatening to force a vote on daca with democrats. for more, we welcome congressman matt gaetz, a member of the judiciary committee. thank you for your time today. you voted against the farmville which would among other things, we authorize programs for world development, agricultural research, and food and nutrition. what was your logic and what would it take to get your vote? rep. gaetz: i didn't vote for the farm bill because it was not conservative enough to we worked so hard to get work requirements to be applied to food stamps. that is an issue that over 80% of the american people agree with us on. all of the savings we got from instituting work requirements were plowed back into failed big government programs, reportedly for the workforce but have not shown sufficient effectiveness or li

mark: i am mark crumpton with first word news. house economic adviser larry kudlow is denying any rift between treasury secretary steven mnuchin and president trump's trade advisor peter navarro. kudlow told reporters that the president is "involved in every decision." prime minister benjamin netanyahu said israel's security services havece prevented terrorist attacks in more than 30 countries, including a plot to shoot down an aircraft. he spoke in jerusalem today alongside panama's secretary. a commonahu: we have battle to fight the sponsors, and we are doing it in the middle east, but it encompasses today the entire world, and we stand ready to cooperate. mark: israel has warned it will not tolerate iran establishing a military presence on its doorstep. iran is fighting alongside syrian president bashar al-assad in that country's civil war. secretary of state michael pompeo met

. >> let's get the first word news with mark crumpton. union leaderspean are meeting for a summit to build against trade protectionism as leaders have expressed concern president trump will proceed with plans to impose tariffs on steel and aluminum. washingtonocus on pulling out of the 2015 iran nuclear deal. the european union cancel president is criticizing president trump's policies. he spoke ahead of the summit in bulgaria. >> we are net -- we are witnessing a new phenomenon. looking at the latest decisions of president trump, some could likethink with friends that who needs enemies? mark: they want to take a united stance against issues with the trump administration including the withdrawal from the iran nuclear deal in the threat of punitive trade sanctions. the director of the government ethics office says president trump should have reported a payment from his attorney to stormy daniels in his public financial disclosure. agency released the 2018 disclosure today. under ethics rules officials report the value of assets and the amo

i am mark crumpton, this is bloomberg.thank you, mark. -- it has only been six months since jeff solomon stepped in as ceo, but he has already shaken things up. analysts even upgraded the firm to buy upon solomon's appointment, saying the new ceo brings a fresh approach. joining us now for an exclusive interview is just solomon. great to have you here. jeff: thank you for having me. julia: it has been a great six months, not just for the business, but for the environment, whether it is macro or policy. so what does a fresh approach mean in practice are the business? for cowen, it is about getting back to what we do best. half of every stock in the u.s. is owned by an etf for a passive index. so we are focused on the half that is owned by active management. we try to focus on telling stories and making sure that people understand how to price assets, how to price financial assets. that is an element that has been around at cowen for a long time. similar,t is about fewer, deeper. getting deeper in the segments we care most a

they'll is -- i'm mark crumpton.estinian observer to the human condemns the violence that the israeli border. he calls the actions and atrocity. massacre is at the same place where the united states of america illegally and unilaterally in a provocative way is opening its embassy. >> 52 palestinians are confirmed dead and another 1200 injured. the -- moving the embassy angered palestinians. fake videos posted by state-sponsored anger provoking.nline is >> for too long, we have been a little naÏve about the scale and nature of this challenge, but the naÏvetÉ is disappearing fast. there's a growing public recognition of the dangers posed by the dark side of our digital world. -- mark: the disinformation can come from trusted channels makes it especially challenging for security officials fighting is spread across the internet. sanctions relief from the u.s. or north korea giving up its nuclear weapons. that they must have proved before sanctions can be lifted. more- kim called for a gradual step-by-step process. a vacc

i'm mark crumpton. this is bloomberg. thank you.nt trump will propose sweeping reforms on drug prices this afternoon. the blueprint is meant to increase competition and lower patient out-of-pocket costs. i spoke with alex is are about why the administration is making this a priority. >> the system is very broken, because every incentive is toward higher list prices, higher out-of-pocket for patients, and we are looking at a fundamental shift in the system. it will not be overnight, but this is -- the president is rolling out the most comprehensive approach to prescription judd price affordability of any president in history. -- drug price affordability of any president in history. david: joining us is our reporter, cynthia. so you do not do this without breaking some china. who are the people who will object to this the most, whose business might be hurt the most? cynthia: it looks like the players that will be the most impacted are the pharmaceutical benefits managers. from what we are trying to piece together from the threads out

i'm mark crumpton. this is bloomberg. vonnie: i'm vonnie quinn. shery: welcome to "bloomberg markets." ♪ vonnie: from bloomberg world headquarters in new york, here are the top stories that we are following. u.s. stocks are getting a lift. a stronger u.s. dollar is crushing emerging markets. the trading disputes truth sending yields higher. treasury auctions on deck. truth, the u.s. will not impose tariffs on china for the time being after two days of talks. china's population control policy could be coming to an end. what scrapping the controversial birth limits will mean for the country's economy. with that, we are half way into the monday session. lots on the move. julie hyman is here to tell us. thee: the trade truce is catalyst for today's gains. we should caution that this is not all said and done. this was on earlier morning talking about markets and market participants, realizing this will be an and thenegotiation sentiments will likely shift multiple times. the sentiment is positive today. seen industrial companies have a lot to gain, if

mark crumpton. mark: thank you. of state mike pompeo says the trump administration will not tolerate russian the 20 18ce in congressional midterm spirit secretary pompeo told the house foreign affairs committee today in menstruation will take what he calls, it appropriate countermeasures to fight with you calls, continued efforts by russia to meddle in this november's vote. on the subject of north korea, mr. pompeo said he will walk away if the right deal isn't on the table. >> it is my view that we have made zero concessions to chairman kim to date. we have no intention of doing so. mark: the president schedules -- scheduled meekim jong-un but u.s. officials haveexpresset the planned meeting in singapore will go ahead. the president expressing that doubt in those comments moments ago as he headed toward the helicopter to go to angers to come to long island. tensions soar between india and as rivals soldiers shelled dozens of villages and border posts for six straight days. seven people for killed, including six civ

. ♪ mark: i am mark crumpton with first word news.nt trump and his lawyers probably will not decide with he will sit down for an interview robertecial counsel mueller until after the summit with north korean leader kim jong on next month according to the president's legal team. rudy giuliani told the at -- associated press, "i would not want to take his concentration off something far more important. saidorld health director vaccines will be shipped as quickly as possible as the number of suspected cases in the latest outbreak grows. the emergency team told reporters in geneva that in addition to getting vaccines to people, there are infrastructure concerns in congo which he describes as dire. >> there are very few paved roads, very little electrification. very little water sanitation. the only way we will announce a serious responses through -- we are talking about an area 280 kilometers. it is going to be extremely challenging in terms of the response. mark: congo's health minister announced the first death since the outbreak was de

i am mark crumpton. this is bloomberg.: we go to stanford and our international policy correspondent michael me is at the hoover institutional -- michael mckee is at the hoover institution's with one of the organizers of the event. >> we are with john taylor of the taylor rule. a lot of fame in the economics profession and he helped put together this conference. one thing everybody is talking about, the labor report, 3.9% unemployment and yet on a year-over-year basis, wages go down. how is that supposed to happen? >> the literature is not perfect on month to month changes. you see some improvements in wages. not necessarily tied to the unemployment rate but productivity. >> it is outside the purview of monetary policy, correct? >> the real wages are outside the purview, how much wages increased to prices -- price inflation is monetary policies role. >> and 2009, you thought the stimulus package would lead to very high accelerating inflation which did not happen. we have a stimulates package now but no inflation accelerate

i am mark crumpton, this is bloomberg.f today's market action for it stocks were declining earlier. the s&p and the dow were off by 1%. we have made a huge comeback. by the close, we were little dow.ed for the the s&p down by six cents of a quarter of 1%. reportst recent earnings , earnings per share of beating the average analyst estimate. $1.34 was the reported number. revenue also coming in better than expected, $3.76 billion. as you can see, the stock is gaining by almost 3% in after-hours trade. activision blizzard was supposed to report after the bell, but there was a mistake. ofther news agency released the results during the trading session. the reported number was fine, but the outlook was disappointing and the stock closed down on the day by 2.3%. i'm going to hand it over to joe. joe: what did you miss? a hot and dry summer coupled with a geopolitical tensions and divergent strength versus the dollar could be just a recipe for the perfect storm and commodities. an.e to explain mike mcglo commodities of already h

crumpton. bloomberg technology is next. -- i'm mark crumpton. bloomberg technology is next. coming up, apple shares hit a record after warren buffett makes another big on the stock. over the cartle commending them an edge in southeast asia. what it means for the tech industry and asia going forward. but first, shares of apple hitting an all-time high. the stock rose after warren he bought ancnbc additional $75 million -- 75 million shares. apple as earnings wrap up, let's bring in kevin kelly. we will start with you. a big vote of confidence against buffett. wrecks this is a info of confidence -- confidence. andhave the buffett news now you get into a june, september quarter. i think now this could be the yellow brick road to a $1 trillion market cap. aheadk there is good news . >> that said, you know the smartphone market is saturating traded will apple continue to defy the odds and how far away are they from the $1 trillion mark? the question, can you sustain this growth, for a long time, tech was one of the primary sectors you could go to. is shareholder friendly how of a

i'm mark crumpton. this is bloomberg. thank you.der that president trump will soon deliver a long-awaited speech on his plan to cut drug prices and boost competition, it is called the american patients first plan. with us is kevin cirilli who is at the white house. in studio is cynthia koons. aboute talking earlier how among the changes the president is expected to call for, he wants to require other countries to pay more, loose price controls on pharmaceuticals. we see the president coming out of the white house. he is getting ready to make his way to the podium. this was supposed to begin at 2:00, so relatively on time. lisa: we were expecting him to be late because he has been viewed two most of his conferences. scarlet: you wonder if he will take questions. let's listen in. >> i want to thank secretary a azar, ambassadors, commissioner gottlieb. scott gottlieb has done a fantastic job. where is scott? stand up, scott. stand up. [applause] and right to try is happening, right? right to try, so important. administrator werner, dir

now to firsts go word news with mark crumpton. mark: it has in a busy day.prime minister justin trudeau level sharp criticism at the united states for washington's decision to impose i and aluminuml imports from canada, mexico, and europe. by clevelandoined retaliatoryg surcharges on $13 billion worth of u.s. goods. despite today's actions, premised are trudeau said that the connection between the u.s. and canada are broad and deep and bigger than what he called the internet -- interpersonal dynamic between him and president trump. >> this action will her canadians. it will hurt americans. and we regret that deeply, but we will continue to look for ways to move forward in a way that does not continue to hurt or continue to harm our citizens in both of our countries the way the actions of this administration today have. tariffs willadian begin july 1 until the u.s. ends its move. secretary mattis arrived in singapore today to attend a national security conference and to talk with key asian allies. mattis is expected to meet with india's prime minister and def