i'm mark crumpton.is bloomberg. ♪ david: overnight, we learned that microsoft thwarted russian in upcomingmetal elections -- to meddle in upcoming elections. it caught a website imitating the united states senate. we welcome a member of the house intelligence committees, joaquin castro of texas. he joins us from washington. there is a lot of partisanship in washington. i would hope, republican or democrat, we don't want foreign enemies meddling in our elections. what can congress due to protect us? >> most americans are very surprised to learn that there isn't a single federal law for the -- or even a state law that that establishes a minimum level of cybersecurity systems.n for voting when you hear these stories about hackers being able to get into voting machines, there isn't a single law set up to protect against that. astonishing.is so we should be able to agree as americans, not as conservatives or liberals or anything else, but as americans that our voting systems and our democracy should be prote

i am mark crumpton. this is bloomberg. i am mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i'm caroline hyde. joe: i am joe weisenthal. >> stocks near's hot death of the session. the nasdaq again at record highs. joke own russian is what did you miss? caroline: canada could be a party of one. insident trump says he was i new trade accord with mexico. elon musk takes a sharp left turn and wants to keep become a public less than three weeks after tweeting that something is to take it private. brazil's markets bracing. gaining in the polls but instead, a return for his party. what did you miss? the united states and mexico have reached a tentative deal to form a trade agreement. canada will join talks tomorrow. the canadian minister says freeland is flying to the p or for more, let's welcome our latin american reporter. we just had headlines talking about how the u.s. and met so's progress is a good thing according to canada. how's it -- how is it a good thing according to mexico? >> mexican negotiating

i am mark crumpton. this is bloomberg. i mark crumpton. this is bloomberg. i>> live, i am lisa abramowicz. we are 30 mins from the close of trading. prices and contagion. a fresh record low against the u.s. dollar even asked -- after the nation propped up the financial system. elon musk reveals saudi arabia was interested in helping tape -- take tesla private as far back as 2016. it might because economic pain. why stock buybacks could be benefiting shareholders at the cost of long-term productivity. turkey is pushed to the brink. on friday, president trump added on with additional -- steel and aluminum. he threatened over the weekend to find new friends and allies. -- that he doesn't see a role for interest rates, that the exchange rate in the u.s. dollar is going to go back on a level of his own, and turkey is under siege coming from abroad. turkish assets to sell off. additional liquidity, staying away from interest rates hikes. it has been interesting to watch shoppers. they are able to lock in great deals but the fundamental question. how this will tric

i am mark crumpton. this is bloomberg.id: thanks. .he battle continues maybe getting better for democrats to retake the house spirit one thing that could determine the results, currently be -- currently represented, we welcome back now. welcome back. good to have you here. the point of view from the seventh district. what will make the difference come november? >> i think they are hard -- highly intelligent. i'm a moderate conservative. >> he is not always seen as a centrist. the run with him, what do you do? >> i indicate where i disagreed and where i agree. i think we are doing a better job fighting isis. i give the administration credit in that regard. but i did not vote for the health care or tax bill. i signed a huge petition regarding the immigration issue. constituents i serve want someone who governs from the center. i believe those are my views. >> one of those issues going against tax cuts is an issue the gop wants to play up in terms of being one of the reasons for a solid economy. if you voted against the tax c

i'm mark crumpton. this is bloomberg.avid: we welcome ted deutch, a democrat from florida, joining us today from fort lauderdale. welcome, good to have you back with us. rep. deutch: good to be with you. david: let's start with the big news, that is president trump announcing the new agreement between the united states and mexico, which has to be ratified, that will replace nafta, or at least part of it. what do you make of it? rep. deutch: well, i do not know yet. i had a chance while i was waiting to watch the president hold his conference call from the oval office. obviously, the -- we need to see exactly what is in it. there is talk of increasing the content requirement from 62.5% to 75% on autos. i am interested in taking a look at the labor provisions, especially the agricultural pieces that are important in my part of florida. we will look at it, congress will have an opportunity to review it. that is one piece. i think all of us want to know what our plan is for our largest trading partner, canada. and i know that

i met mark crumpton, this is number.shery: -- shery: china hits back, retaliating against the from theund of tariffs trump administration with a 25% charge on $16 billion in u.s. goods. sitting down with the home depot cofounder, earlier they got their take on the increasingly protectionist stance on trade. >> if this is a ploy, god bless them. but if it's not? if he believes that tariffs are the way, go back to the 30's and smooth haley, it doesn't work. if he's a passionate believer , ifit's an end of itself he's a passionate believer, he's going to pay a price. shery: joining us with more is sarah mcgregor. $200ven't even got to that billion tariff in chinese good that they are now looking into. what are the chinese saying? >> as we know, yesterday the u.s. published its final list of chinese imports that it is going to slap a tariff on. china, not surprisingly said that overnight they were going to hit you back. the surprise was that they revised the list and included on it now are some petroleum , which is a soft sp

let's get to first word news with mark crumpton. appeals courtl says the trump administration endangered public health by keeping the top-selling pesticides ♪ pesticides on the market. despite scientific evidence that even tiny levels of exposure can harm babies brains. the court of appeals in san francisco has ordered the environment protection agency to remove it from sale in the united states within 60 days. trial resumeds today and virginia. prosecutors are expected to offer witnesses for two more days and focus on the ninth fraud bank accounts. manafort is accused of unlawfully securing more than $20 million in loans from three american banks. that is in addition to the charges of tax fraud against him. the senate judiciary committee has posted documents from spring court nominee brought caps on is time working under president george w. bush. the panel says it expects to produce more than 125,000 pages related to cap in a's stance in the white house office. president bush's team determined that the documents do not contain info

caroline: here is mark crumpton. a watchdog says the trump administration needs to step up management for the sign-up. periods under the health care law. the government accountability office found problems with consumer counseling and advertising, and recommend a basic things such as setting and roman targets. it did credit and meditation actions that did help the people in role, such as a more reliable website and reduced call-center wait times. and a former governor contractor who pleaded guilty to mailing a classified u.s. report to a news organization was sentenced to more than five years in prison today. reality winner, who worked at the national security agency's office, admitted printing the report and leaving the building with it in her clothing. it is the longest sentence ever imposed for a federal crime involving leaks to the media. and education secretary betsy devos is considering allowing states to use federal grant money to buy guns first goals, that would reverse a -- for schools, that would reverse an

i am mark crumpton. this is bloomberg. joe: "what'd you miss?"eo gave a lengthy interview to the new york times highlighting the demands of running the company and shedding a light on circumstances surrounding his tweet last week. he is announcing taking tesla private. since their stocks -- the stocks went spiraling. bring in -- we bring in david welsh to talk about this. what about this interview alarmed investors so much? >> when a company is in crisis and they have been since he put out this tweet, the ceo usually does a big interview with bloomberg or somebody like that to clear the air. they have to say they have the hands -- their hands on the problem and will get things fixed. this did the opposite. he tweeted he wanted to take the company private on the way to the airport. not a lot of thought and communication which sheds light on that the funding is not set in stone. he does not have the money lined up as he indicated when he tweeted that out. problems to -- problem number he said he needs is someone else to help him run the company bec

i am mark crumpton. this is bloomberg.et: we got jobs data today which can only mean one day, fantastic [indiscernible] reporting --omy reporter, let's start with this mystery wrapped in an enigma, wrapped in a paradox. a mysterious increase in the prime working age labor supply. matt: we have been talking about this, but the big story over the last several years has been low unemployment, wage growth has not been increasing and we have been getting big job creation numbers month after month. everyone thought when unemployment got this low we would seek smaller job creation numbers because we have used up the pool of available labor. something interesting is all of these people who were outside the labor force and claimed they didn't want jobs are coming back in. yellow line shows. that is the percentage of people of prime working age between 25 and 54 outside the labor market and say they don't want a job. you see that line coming down, that is where the outrage is coming from. the blue line is women. it has been responsi

crumpton. this is bloomberg.: the felony convictions of metaphor and cohen yesterday affects more than politics. it may shape the rest of the trump presidency. to talk about what may come next are marty schenker and greg farrell. we will start with the law. davis, heard from lanny the lawyer, saying that president trump knew these payments were being made to keep the story quiet. is that a crime? and rudyt completely, giuliani has addressed this. if it is conceivable, trump was embarrassed about offending his wife and he is not necessarily exposed on that front. david: it may or may not be a crime. is it even a surprise? the american people know this already. marty: it gets to the political question of why hasn't the gop base turned on the president? frankly, it is not a surprise. we knew that donald trump was aware of the payments. we knew that before. it is not a surprise that donald trump had done things that are unconventional to protect himself and his reputation. that part of it is not a surprise. shery: co

here's mark crumpton.k: china is poised to strike back at the u.s. on trade is the trump assertion goes ahead with plans to impose tariffs on another $200 billion of chinese products. beijing will retaliate with a sliding scale of duties on $60 billion of american goods. the hardest hit will be meet, we eat -- meat, wheat, wine, and natural gas. the u.s. was to keep pressure on north korea and iran. iran just signed a friendship pact with the alliance. bank of england governor mark carney has jumped back into the brexit debate. the central bank chief told the bbc the chance of the u.k. dropping out of the european union without a deal is "uncomfortably high." that indicates carney is more worried that prime minister theresa may won't be able to get a deal that would prevent disruption to businesses and consumers. global health officials aren't sure whether an experimental vaccine will be effective in the latest outbreak of people a in congress -- of ebola in congo. they have 3000 vaccine doses ready to go

let's get the first word news with mark crumpton.ional economic council director larry kudlow says president trump will keep on the as chinaon china continues the tariff escalation anotherncing retaliatory action against u.s. goods. kudlow spoke with bloomberg television about the possibility of one-on-one talks between the u.s. and china. >> if the opportunity presents itself, i don't want to speak for the president or get ahead of him on this tricky question, but if the past is any prologue to the future, president trump enjoys bilateral discussion. beijing plans to levy duties ranging from 5% to 25% on about $60 billion of u.s. imports. french president emmanuel macron met with british prime minister theresa may at his vacation residence in the french riviera to discuss brexit. the major sticking point in negotiations is how to guarantee the border between ireland and northern ireland remains open after brexit? u.k. officials say in private, they are working on a new plan. may strip comes amid tensions between britain and the eu o

i'm mark crumpton. this is bloomberg. love from bloomberg world i'm joeters, weisenthal, i'm scarlet fu, i'm caroline hyde. the s&p 500 -- 9/11 sectors are in the red. what'd you miss? president trump says the market will crash if he were to be impeached. crypto enthusiasts will have to wait even longer for bitcoin etf's. overec gives a red light concerns of market manipulation. >> trump tells wall street you'll miss me when i am gone. that the market would crash if he were impeached. democrats -- what an impeachment really way or would it be shut off? your piece says we are not back in the 70's. >> in the 70's, we had a number of horrible macroeconomic events. we had the unwinding of the bretton woods agreement of fixed exchange rates hit its stride in 1974. the s&p was down 26% and 74. a very different backed up what we had today. >> on the question of impeachment specifically, setting aside whether it is going to happen or whether it is a good idea or bad idea, if suddenly democrats take the , what doesovember history

i am mark crumpton, this is bloomberg.live from bloomberg world headquarters in new york, i'm shery ahn. botha: we are joined by audiences now. the dollar dropping, the greenback on its worst streak in a month, president trump complained that jerome powell has not been achieved money fed chair. we hear from the chinese ambassador to canada about the impact on the international investments. the tesla troubles with a stall and elon musk has the funds to go private. getting started with a quick check on major averages, u.s. stocks are gaining ground in the afternoon session, the dow now 1% while the s&p 500 is up 3/10 of 1%, being led by energy, industrials, and material sectors. the metal is gaining ground in this session. the nasdaq though is only up 1/10 of 1%, reversing earlier losses. tech stocks are still weighing on the indexes. amanda? amanda: you mentioned the dollar losing ground, that's the good news this session for gold, but take a look at your terminal, a picture of what's happening to the 13 consecutive weeks o

let's get to mark crumpton.ent visas are being asked if americans can do the job they are applying for. the question has been posed during interviews at various american consulates following president trump's friend are american order. the of questioning has brought more scrutiny to the visas and not necessarily translate into higher denial rates. germany did not wait long to respond to u.s. sanctions. plan testenz froze a even after the opinion tried to salvage the iran nuclear deal by pledging to protect firms threatened by president trump. in a speech on live television, roderigo threatened to kill corrupt police officers in his country. his expletive filled a dress was directed at more than 100 officers facing administrative and criminal complaints. he said a special unit will monitor any officers involved in drugs or corruption for the rest of their lives. the u.s. state department hold a moment of silence to mark the 20th anniversary of the bombings of the u.s. embassy that killed more than 250 people. on

this is bloomberg. ♪ i'm mark crumpton.in's government has decided to keep the threat level for terrorism as severe after a car slammed into a barrier outside parliament. the decision not to elevate the threat level following a meeting of the government's emergency committee. one man has been arrested. police say they believe there is no further threat to londoners. the crash appears to be deliberate and they are treating it as an act of terrorism. primaries are being held in four states today. democrats are fighting to be back republican gains particularly in wisconsin and minnesota where president trump's appeal among working-class voters is strong. voters are motivated in wisconsin where eight candidates have lined up for their chance to battle the republican governor. the eu is increasing pressure on over flaws in the country's supreme court law. warsaw a monthg to act before facing possible court action. today's move centers on polish legislation that forces the early retirement of over one third of supreme court justi

i am mark crumpton. this is bloomberg.er ansys google and facebook and twitter had better be careful in the u.s. tech giants are trend -- treading on troubled territory. we're joined now by look at agricultural committee member jody of iowa. before we get to trade issues, i'm wondering if you could comment on the latest, i guess, animosity between the president and some big tech companies and whether you think it deserves greater scrutiny of the way some results are put out there. >> i think it should require little more scrutiny. we want to know that the tech companies are doing the right thing and providing fairness and and the world wide web. that thatth the president we should look into this and hopefully have good results. >> all right so you think there should be a broader inquiry. what you want to see to that effect? >> again, equity, we had constituents reaching out saying i'm trying to look up misinformation but i'm not able to find it and it is not hitting the top search. there is a problem. i think we have to go

david: for first word news, mark crumpton. puerto rico has conceded that hurricane maria kills more than 1400 people last year. the local government had previously reported an official death toll of 64. the higher number was revealed. the report detailed a $139 billion reconstruction plan for the island. in northern yemen, shiite rebels say the death toll from saudi is more thanikes 50. the assault struck a bus carrying civilians, a busy market, including a bus with the number of children. iny say it was carried out accordance with international humanitarian law and customs. warns it will increase the pressure on canada for criticizing recent arrest of women's activists. the kingdom says the next wave of retaliation could affect investment flows between the two countries. meantime, canadian prime minister justin trudeau says his governmental continue to speak up on human rights. there is a report mike pompeo has given north korea deadline on nuclear weapons. according to a news website, secretary, pale told the north korean re

crumpton. >> this is bloomberg.president trump continued his attack on the mueller investigation and those who said it in motion this morning, tweeting and part, "fbi agent peter strzok on the mueller team should have recused himself day one. this is a terrible situation, and attorney general jeff sessions should stop this rigged witchhunt right now before it continues any longer." with us, former federal prosecutor elle honig. if he doesn't like what his attorney general's doing, why doesn't he tell them to do something different or fire him? he's walking a very fine line. remember, he recused himself. he is saying sessions should on recused himself -- should un-recuse himself. he is trying to pressure people into doing his work for him at this point. david: it doesn't seem that mr. mueller is changing his behavior, or attorney general sessions, rod rosenstein, or anyone else. so where does this all end? what would happen if he did fire sessions and get rid of mueller? guest: i think mueller prices straight ahead.

this is bloomberg. ♪ mark: i am mark crumpton with first word news. trump issued a warning to tech companies ring an oval office meeting with the president of fifa. mr. trump said "literally thousands and thousands of complaints have been received." , theytter and facebook have been treading on troubled territory and have to be careful. it's not fair to large portions of the population. mark: an apparent tweets today, the president claimed google search results were rigged against him. puerto rico's governor has raised the island's death toll from hurricane maria to nearly 3000. that is a sharp jump from what had been the official toll of 64. the move by the governor comes following reports earlier today by the milken institute school at university -- washington university. the storm to the island last september. the owner of a texas company that makes untraceable 3-d printed guns says he has begun selling the brew plants -- the blueprints through his website despite a federal court order from barring him from doing so. cody wilson said he has receive

here is mark crumpton.ted nations sends says 134 people were killed over the weekend in northern syria. a spokesperson said today at least 59 civilians, including 17 children, were killed when it weapons and ammunition depot exploded in a residential building. the syrian government has been sending reinforcements to the northern part of the country, ahead of an expected assault on the province, the last major rebel stronghold. and defense secretary jim mattis has held talks in brazil with the foreign minister in that country. brazil is the first stop for general mattis, whose trip to south america will also take into argentina, colombia and chile. after visiting brazil, he will be in argentina to discuss defense issues of mutual interest. more than one million people impacted by monsoon rains in the philippines. at least six people killed, hundreds of thousands forced from their homes, due to flooding around the capital. the president was scheduled to do an aerial inspection today of flooded areas, but offi

look at the first word news with mark crumpton. >>.taking its -- >>, turkey taking his boldest stance yet to try to stave off a financial crisis. loans are already topping $20 billion, president erdogan set up a stink with the united states, imposing new tariffs on a wide range of american-made products. jim and mattis is pledging -- jim mattis is proposing closer cooperation with argentina, the military partnership between the two can be strengthen he proposed, it's his first visit to argentina by an american secretary of defense since donald rumsfeld in 2005. foreignunt, the british secretary, said it would be a strategic mistake if no deal is struck before britain leads the european union in march. speaking alongside the foreign minister, hunt said that would not be in the best interest of any european country. he is visiting several european capitals to discuss the latest in praise and negotiations. the united states refugee agency is urging european companies -- countries to end the impasse over ships carrying migrants. the u.n. c

david: we go now to mark crumpton. mark: the u.k.g a no deal brexit would raise prices for european goods and make life difficult for retirees. brexit secretary dominic raab posted 25 notes on how the country should prepare for the possibility of talks with the eu collapsing. problem, british retirees living in eu countries could lose access to their u.k. bank accounts. a former government contractor who pleaded guilty to mailing a classified u.s. report to a news organization was sentenced today to more than five years in prison. reality winner, who worked at the national security agency's office in augusta, admitted to printing the report and leaving with it in her clothing. education secretary betsy devos is reportedly considering allowing states to use federal grant money to buy guns for schools. e at would revers long-standing policy of the federal government. in march, congress passed a school safety bill that allocated $50 million a year to local school districts but expressly prohibited the use of the money for firearms. heav

i am mark crumpton. this is bloomberg. ♪ caroline: from bloomberg world headquarters in new york, i'm caroline hyde. scarlet: we are 30 minutes from the u.s. the five-day winning streak stalling with the fed and focus following 24 hours of legal drama for the president. joe: the western is what did you miss? caroline: the fed is ready to raise interest rates again if the economy stays on track. a strategic change in the pipeline for a company to hold off on you focus on acquisition of -- giant. and fan appeal wants to be the google of cannabis. a sizable cash pot. scarlet: the federal reserve releasing minutes from a policy meeting under scoring concerns for trade war and intentions for the rate hike path. jay powell, the fed chair, will deliver an address on friday at the central bank's annual policy symposium in wyoming. let's welcome the bloomberg opinion columnist dan. with regard to fed minutes, -- a all systems go for quarter-point in september, likely a quarter-point in december, possibly one more

let's get to first word news with mark crumpton. thank you. visitors hoping to see the iphone tower are voicing frustration that the paris monument is closed. are onfel tower workers strike over new visitor access policies which they say is responsible for extremely long lines. the eiffel tower allows half of its tickets to be booked in its -- in advanced her union say the system has created "monstrous waiting times." top u.s. intelligence and homeland security officials are raising alarms about potential efforts to influence the 2018 and 2020 elections. homeland security chief jurist a our democracy is in the crosshairs. director of national intelligence dan coats spoke to reporters during a white house briefing. >> in regards to russian involvement in the midterm elections, we continue to see a pervasive messaging campaign by russia to try to weaken and divide the united states. are not exclusive to this election or future elections, but certainly cover issues relevant to the election. fbi director christopher wray called the threat of forei

i'm mark crumpton, this is bloomberg. >> live from bloomberg us world headquarters in new york -- bloomberg's world headquarters minutesork, we are 30 from the close of trading. u.s. stocks higher today, halting the longest slide into march, the dollar at its highest june 17. joe: the question is "what'd you miss?" scarlet: president erdogan calls for a boycott of iphones. argentina on the other side of the coin, shoring up the battered payphone. plus the labor market prison penalty, a simple check docs on job applications could be contributing to great depression era unemployment among formerly incarcerated people. allies in name only, the standoff between the u.s. and turkey had been intensifying as u.s. officials insisted they would accept nothing less than the released of a detained american pastor. in a staunch message to the turkish ambassador, john bolton made it clear that there was no room to negotiate. still, he countered with a message to the turkish people and president trump. >> a series of speeches defined t

i am mark crumpton. this is bloomberg. ♪ lisa: five, and lisa abramowicz in response to what he called in response to what he called america's attacks on the economy, turkey announced tariffs -- chronicling $1 billion worth of u.s. goods. -- chronicling $1 billion worth of u.s. goods. so far, it succeeded in lifting off of record lows. here with more insight is the senior fellow on foreign relations. thank you for joining us. it little bit of a retrieve. two days in a row of gains. to be done still to really stem the bleeding and really bring about stability? >> one thing that will ultimately stabilize turkey is a weaker lira. in that sense, part of the adjusters needed has already taken place. other things that are needed are policy support for the needed adjustment and the needed adjustment is thatally a domestic demand can come through restricting bank lending, through higher interest rates, which would have the effect of bank lending, and fiscal policy. >> the reduction in domestic demand is all abou

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg's world headquarters in new york, i'm taylor riggs. scarlet: i am scarlet fu. >> i'm in for joe weisenthal. >> 30 minute's from the u.s.. >> the question is what did you miss? >> shares of tesla, stock halted after elon musk tweeted he is considering tweet -- taking the , plus, a final decision has not yet been made. trouble remains over turkish assets. their president remains silent as they plummet to record lows. and, merger on the mind for disney investors, the media company set to report currently -- quarterly earnings after the bell. watching for any details of its acquisition of 21st century fox assets. what did you miss? --n musk trolling tesco tesla short centers, teasing the possibility of taking the company private at 400 12 -- $420 per share. he said funding secured. this comes after a report from the new york times at the sovereign fund has a massive stake worth as much as $2.9 billion. that report sent shares soaring before they

i'm mark crumpton. this is bloomberg..: thank it has been 10 years since the financial meltdown. bloomberg businessweek is examining the legacy of the 2008 crisis. our national correspondent writes, "the biggest impact is political, with the anger of many americans catapulting an unlikely candidate to the white house." josh is here with us. as you describe in the piece, the pitchfork will the masses are making themselves heard. josh: i started out the piece with a scene of tim geithner and i sitting in his office in 2010, just at the point where the financial crisis had been contained in a lot of people were optimistic in the government. if you look at the last 10 years, it has been nothing but negativity and backlash. -- nothing but negativity and backlash. the recovery has been narrow in a lot of americans i still stick with today at campaign rallies say, we are angry, the bankers were never held an account. held in account. david: we go back to 2008 in the economy is falling apart and people were very upset. the republ

i'm mark crumpton. this is bloomberg. for let's get back to the bloomberg school. president trump is set to back to hundred billion dollars in china tariffs as early as next week. the offshore u.n. extending losses -- yuan extending losses. going further in the red versus the dollar. macro strategist for bloomberg joins us now. how significant are trade tensions for china and other emerging markets to the downside? how positive is it for the dollar? >> really big. with regards to the yuen, we had whenurrency depreciate china stepped in and reformulated how the fix would be done to strengthen the currency. back down to 680. back to 687 on this trade news so it is a big swing. the key with the tariffs from the sources i have been told from the pboc is that china is very willing to let the currency slide over 7 if trump will go ahead and enact these tariffs. if we do enact these tariffs, the answer to that will be to let the yuan slide to seven to the dollar if not beyond. caroline: the natural offset that they will allow to

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters, i'm shery anh. >> and live in toronto, i'm amanda laying. -- amanda lang. shery: here at the top stories we are following from around the world. says it willis keep tightening to the screws on canada for criticizing the recent arrest of women's rights for yet prime minister trudeau to speak at 2:30 p.m. can you on musk tweet that? opinions on how long the tesla his wanting to take tesla private. tariffs on $15 billion worth of goods later this month. let's get a star of a quick check on the major averages. a littleks retreating bit, the dow is down 2/10 of 1%. the s&p 500 is unchanged after gaining for the past or sessions. we do have some gains in americap. trade tensions are running high between china and the u.s. the 10-year yield is at 2.9 6%. it is losing a little bit of ground but we saw the largest auction of tenure treasuries we saw the largest auction of tenure treasuries ever. >> the u.s. and the mexico car deal

i'm mark crumpton, this is bloomberg. >> proxy wars.esident trump loyalists will face off against a bernie sanders liberal alternative in the governor's race for florida. of the starkest contrast in the country between two very different ideologies. our guest is managing editor for crystal ball. this seems to be one of the starkest contrast we have seen. >> it is interesting in that a lot of thengton, consultant class on the democratic and republican side are both upset about the candidates they got in this race because the professional republican crowd would have preferred and putnam. they would have preferred him to win the race. donald trump made it clear that he wanted to santos to be the lead. on the other side, gwen graham , moreughter of bob graham of a centrist candidate, democrats wanted her to be the nominee and they ended up getting andrew gillum. indra gillam winning was a surprise. that sense of a contrast of far left liberal democrat, far right inservative republican probably the most important governors race in the countr

i'm mark crumpton, this is bloomberg. live from bloomberg world headquarters in new york, i'm vonnie quinn. john: and i'm jon erlichman. we are joined by our bloomberg audiences. president trump announcing he would terminate nafta and sign a new trade deal with mexico, potentially leaving canada out. mean for thes mexican economy and how would it change rules around auto manufacturing? and apple is launching three new iphones. we will have that bloomberg school, next. let's get a quick check on the markets, though, before we start erie of the s&p 500 is having an up day, three quarters of 1% higher. the dollar index is down three orders of 1% primarily on the strength of some other currencies, including the mexican peso and the canadian dollar, for reasons that will become clear in moments. the peso is at 1874. we were talking a lot about trade today. wanted to get a look at the numbers behind all of these trade headlines when it comes to the u.s. and its relationship on a trade level with nations like x ago and canada. h

we turn to mark crumpton. senator john mccain's family said he has decided to stop receiving treatment for brain cancer. he was diagnosed in july 2017. the illness has kept him away from the senate this year. saidstatement, the family he has beaten expectations for the survival but " progression of disease and the inexorable age has rendered a verdict." according to the wall street journal, the trump organization ceo -- cfo allen weisselberg was granted immunity for providing information in the hush money case involving michael cohen and the president. allen weisselberg has worked for him for decades. australia's new prime minister promised a stable government at the amd of a tumultuous week when his predecessor was forced out of office in a swift interparty political crew -- coup. parliament was shut down for an afternoon. >> my plan for this country is for an even stronger australia. to get our economy strong, to guarantee the essentials that australians rely on. to keep australian safe from terrorism and al

i am mark crumpton. this is bloomberg.e: breaking news now on paul manafort and the retrial. they were 10 counts he is being retried for. the u.s. attorneys have asked for more time to decide on the paul manafort retrial on 10 counts. it was last week that he was convicted of eight counts on tax and bank fraud. they discussed by the jury in alexandria, virginia, and failed to return berdych suntan of the counts -- failed to reach verdicts on 10 of the accounts. lisa: "what'd you miss?" argentina's president is trying to calm markets. caroline: today he's asking the imf for early release of funds for the $50 billion in my financing deal. the argentine ian pazo continues it slide, falling for the eighth day in a row. formerjoined by the senior economist at the imf. you said this request is a positive element. why do we see a continued selloff in the peso? >> it is a positive development. this is the best they could hope for. to maintainted monetary stance and are asking the imf to frontload the disbursements. they have to ho

mark: i am mark crumpton with first word news.d states announced details of limited new sanctions against russia over the march poisoning in the u.k. of a former russian agent and his daughter. the restrictions released by the state department target remaining sources of foreign assistance and arms sales to russia and deny any u.s. credit to russia including through the export, import bank. >> under the statute that triggered those sanctions, we are obliged to conduct a 90 day ,eview to see if, in this case the perpetrator, russia, discontinues chemical weapons programs and satisfies inspectors. mark: he made his remarks in kiev and added he told ukraine's president that the u.s. is ready to cooperate with his government to prevent russia from interfering in the ukrainian elections. the european union and warning italy to refrain from issuing threats in the migrant crisis after a prominent government ember said rome would withhold part of its eu payments. an eu spokesman said the eu operates on the basis of rules, not threats. fro

i'm mark crumpton.s is bloomberg. ♪ : a crisis in turkey is stoking speculation over extreme steps and even a possible bailout from the imf. the turkish 10-year yield has jumped to an all-time high. the lira fell to record lows yesterday before rebounding. turkish officials are heading to the u.s. to discuss the ongoing tensions. be asanctions continue to threat to the economy and is meant by radio silence by present and one. -- by president erdogan. given what is happening in turkey's market and the broader economy,, does turkey risk -- how muchits hand does turkey risk overplaying its hand? >> there are many outstanding issues, including turkey's decision to purchase a russian defense system and the looming iran sanctions will be critical and mike deal -- and might deal another blow. president trump and vice president pence have been interested in the release of a u.s. pastor who has been detained in turkey since 2016 on trumped up terrorism charges. turkey wanted to receive concessions from the u.s.

. ♪ mark: i am mark crumpton with first word news.enate today unanimously approved a resolution affirming the press is not the enemy of the people. the resolution offered by a democrat of polite drew on the words of thomas jefferson, james madison, and ronald reagan among others to champion the role of the fee -- free press which is " integral to the democratic foundations of the united states." newspapers across the country are pushing back against president trump's attacks on big news with a coordinated series of editorials speaking up for free and vigorous press. steve mnuchin said additional u.s. think and already, but turkey refuses to release an american pastor. the trump administration says he is even legal be detained -- illegally detained. the president says it is a terrible thing that the turkish government continues to hold the pastor. for chargesal u.s.ed to a failed 2016 government attempt -- to attempt. a thorough review of the bigs is -- bigs on pipelines raising further delays. critics have raised concerns about spills

. ♪ mark: i'm mark crumpton with first word news.he united states announced new sanctions against russia. the u.s. has made its final determination that vladimir putin's government was responsible for the march fourth nerve agent attack on a former spy and his daughter in the u.k.. the state department said the sanctions tied to the use of chemical weapons are expected to take effect on august 22, but did not immediately say what they would entail. justin trudeau says canada will speak up against human rights and will maintain its current approach with saudi arabia. this comic came after canada criticized the saudis for the rest of women rights activists. >> canada will always stand up for our workers and companies. we need to make sure we are predicting -- protecting canadian interests. we continue to engage with the government of saudi arabia. the ministerof -- of foreign affairs had a long conversation with their minister yesterday, and diplomatic talks continue. mark: the saudis responded to the criticism by expelling the canadia

i am mark crumpton. this is bloomberg.red: midterm elections just over 80 days away and with the big battle between whether the democrats can retake the house, for a view from one of the meeting democratic ,trategist, welcome guy cecil he worked on hillary clinton's 2008 campaign and chairman of priorities usa. a very large super pac. he joins us from washington. guy: thank you for having me. projection 75% likelihood the house will take the house and larry sabado moving in that direction with more seats going in that direction. where do you put it? >> i am optimistic about our chances and do not only look at projections in november but look at the midterm and off year elections that of happen so far. we see significant increases in democratic participation. just looking at the ohio special election, democrats narrowly lost, there were 70 congressional districts that were more democratic than that district. we have put a lot of seats in play and i'm optimistic we can take back the majority in november. david: how do you fi

i am mark crumpton. this is bloomberg. shery: thank you. midterm primary calendar marches on with key contests tomorrow in hawaii, and next week voters head to the polls in connecticut, minnesota, for montt, and wisconsin. in kansas, the race for governor remains too close to call with kris kobach recusing himself against the vote. let's bring in basil smikle and jen kearns. the gopart with gubernatorial primary. we could get even a recount after the extended counting progress -- process your it does this give a leg up to the democrats if other candidates can use that time to go out and campaign? jen: they could. what this shows us is exactly how close these races are in these 2018 midterm elections. in the case of kris kobach, the important lesson shows the power of the endorsement of president donald trump. my understanding is the co-block campaign did not ask for that until the 11th hour. it helped him in this case. what the white house and gop is figuring out is where does donald trump's endorsement help and where does it hurt? that is

mark: i am mark crumpton with first word news.he grandfather of a missing georgia boy said today the child's remains were found buried at a desert compound in new mexico months after his mother reported he disappeared with his father who said he wanted to perform an exorcism on the child. documents, -- in court documents, a father was arrested as he was training youngsters to commit school shooters. they say the suspect was conducting weapons training with assault rifles at the compound near the colorado border which was rated by authorities on friday. puerto rico has conceded hurricane maria killed more than 1400 people last year. the local government has previously reported an official death toll of 64. the higher number was revealed submitted to congress this week. the report also details a $139 million reconstruction plan for the island. saysngton, d.c.'s mayor the nation's capital is ready to rally it hasa received a permit for this weekend in washington. the mayor says she has activated the city emergency operations center.

i'm mark crumpton.s is bloomberg. ♪ david: still ahead, voters in four states are headed to the post a. minnesota may prove to -- to the polls today. why minnesota may prove to be critical. this is bloomberg. ♪ ♪ shery: this is bloomberg markets balance of power. david: voters go to the polls across four states that i. had to give us a preview -- states today. here to give us a preview is anna. there are so many tossups both ways. anna: minnesota is interesting. that is where republicans could look for some pickups. the mood in the country is not favorable for republicans. democrats are over performing in primaries and special elections. they will be looking to be competitive in some of the tossup seats and tried to take on or two seats in minnesota. shery: what about wisconsin? it seems to be a tight race for paul ryan. anna: the first at district of wisconsin us -- for wisconsin is tight. since he announced his retirement earlier this year, to see less interest in that race. aidesbacking one of his fo

i'm mark crumpton. this is bloomberg. caroline: thank you.james bond's favorite car is on the verge of going public. as summer announced plans for an ipo -- aston martin announced ipo, but the ceo was a little bit reluctant when asked earlier this year. >> i think the particular argument is we are making a new kind of company, a company that can survive on 17,000 very profitable cars a year. but it can survive because of its partnerships. caroline: david welch who covers all thing auto joins us now, six months later and asked amarin clearly wants to get going going public. and at a premium. >> it is. they are talking about an ipo that would be about $6.4 billion, that is a heck of a valuation, more than 10 times what it was originally sold for. this is about a big return for the owners. and you have an english investment company, you have the kuwaitis involved, and they stand to make quite a bit because the company says they do not need the cash, they do not need to actually sell shares in order to fund future products. they have partnerships

let's turn to mark crumpton. the top white house economic adviser says china will send a team to washington this month for diffusing an escalating trade. talking is always better than not talking. the meeting would be the first between a senior u.s. and chinese officials since june 3 talks in beijing ended with no settlement. former cia director john brennan is a striking back at president trump after the president revoked his security clearance. in an op-ed in the new york times, brennan says the president's claims that no one in his campaign colluded with russians during the 2016 election are most hogwash. the decision to remove his clearance was politically motivated because president trump clearly has become more desperate to protect himself and those close to him. british police have given more time to question the suspect in a car crash outside of parliament that injured three people. a british citizen was arrested tuesday after striking cyclist and plowing his car into a security barrier. he is being held

i'm mark crumpton. this is bloomberg. david: thank you.continue to wait for the jury to reach its verdict in the kumal trial of paul manafort, president trump's former campaign manager, even as the president's representatives continues to speak out on the investigation. don mcgahn interviewed for 30 hours this weekend. inwelcome back seth waxman washington, a criminal trial lawyer in the district of columbia. welcome back. seth: thank you for having the greatest david: as a former prosecutor, give us a window into how the prosecutors against paul manafort are feeling right now? is it surprising you it has been taking this long, given the 18 counts, and at what point would you get nervous? seth: it would not be surprising to me sitting on the outside looking in that we have gone through deliberations for a couple of days. as a prosecutor, you have convinced yourself that you have the evidence beyond a reasonable doubt. you have the documents and the emails. the bank records. so as the days where on, your heart sinks a little bit further eac

i'm mark crumpton, this is bloomberg. ernie's continues.ting adjusted eps of $1.05 missing even the lowest estimates compiled by our analysts here. dollar 21 was the consensus an immense. investment income dropped in the quarter because of lower returns on alternative investments. million recording $200 in nonoperating restrictions cost because of efficiency initiatives. the decline was interesting. lower returns on alternative investments from pe and hedge fund performance. julie: we're also looking at numbers from symantec. they are coming out with second-quarter earnings forecast low estimates. andmost, it looks to our $.35 a share and $.38 is what analysts had been anticipating. that accounts for the decline in the shares. this is even after the fiscal first-quarter numbers were slightly better than had been estimated. the second quarter revenue forecast looks to be short of estimates as well. that is weighing on those shares as well. the company has been undergoing an audit of its internal financials and internal investigations. it has

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york, i am shery anh. >> welcome to bloomberg markets. we are joined by both audiences for you -- audiences. >> turkey turmoil, the lira plummets to new lows as president trump double tariffs. undermining expectations that the fed will raise rates next month. musk's spacex market hints towards a tesla buyout. >> the turmoil we are seeing to i -- seeing in turkey. the dow, s&p, and nasdaq seeing pressure. the s&p which was seeing momentum earlier in the week, they have now feted with the possibility of ending in the week in negative territory. the dow has seen some pressure, the worst performer being intel for at -- being intel. the jobs picture showing signs of life. the number of jobs reported in the recent data, triple what was expected and part-time jobs are big chart of that. you are looking at a chart for c we ces jobs -- talking about jobs, we had the data. andt could be undermining eating it to wage gains for

i'm mark crumpton. this is bloomberg. shery: live from bloomberg headquarters in new york, i'm shery anh. amanda: and i'm amanda lang. we are joined by our audiences -- shery: here are the stories we are following. reuters reporting the saudi arabia is set to call off its highly anticipated aramco ipo. counting down to fed minutes at 2:00 p.m. new york time with merrill lynch's ethan harris. amanda: president trump throws twitter jabs at his former lawyer, michael cohen, after his guilty plea, but praises paul manafort as a grave -- as a brave man. shery: we are seeing u.s. stocks the u.s.the moment, down 2/10 of 1% while the s&p 500 is flat. we are seeing thin trading -- tradingll tensions and president trump's legal troubles. , and oil00 is leading prices are above $57 per barrel. of nasdaq is gaining 4/10 1%. let's talk about trade headlines, a little more optimism on a new nafta. the dollar is now broadly weaker global purists, while the mexican peso is leading among the currencies. miss nextn economy economy minister