alix: david lafferty of nexus will be sticking with us. ubs wants to nibble. d: in the meantime president erdogan has been speaking to a group of investors. he says our economic fundamentals are strong, we will not give up our economic vision, we will continue to expand on projects, and it is everybody else's fault, particularly the united states. alix: do not look at our inflation. david: we will have much more coming up right here on bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. alix: this is "bloomberg daybreak." i'm alix steel. president erdogan saying there is no weakness in the lira. thenarkets a lot calmer they did on friday. the dow jones futures only off 81 po

david lafferty, investment manager. let me start with ronald ronald, you heard what bob -- hopefully you heard what bob pisani said earlier, that it has not been profitable to play the downside on trade. how have you been reacting to it, to these trade headlines >> i think it's too early to react to the trade headlines it's interesting, when you look at the market lately you've heard a number of companies talk about wage pressures but haven't heard as much detail as it relates to trade part of the reason for that is a lot of the tariffs are just put into place during the third quarter. july 6 was one of the key implementation dates we had steel and aluminum tariffs earlier, washing machines and solar panels, but i think the companies are still figuring out what an impact it would be on their operations ceos are not known for talking down their own share prices. >> david, same question for you and i'm going to put you on the spot because i'm going to do this sometime next week when i get some time with a spread sheet. ha