the likes of ibm, goldman sachs, goldman sachs down 4.5%.gan stanley earnings coming out at 7:00 a.m. something to watch. let's look at what futures are doing. they're bouncing back 6 points or 7 points for the s&p and dow. green at least. impressive to see that in light of some moves elsewhere around the world. asia is in the red. europe is not. asia down a bit in hong kong, almost a half percent, shanghai, almost 1%. europe is the big mover yesterday. worth noting that because the ftse 100 down 2.5%, the worst day since brexit in light of a strengthening pound as theresa may announced that election. also the french market yesterday down almost as much, 1.7%, that is as we near the french election. the first round vote is on sunday. all eyes will be on that. >> also on the french/german spread starting to widen out to levels we have not seen since what you pointed out in 2011? >> since the -- >> european debt >> the mario draghi whatever it takes conversation in 2012. in 2012 it got to 150 basis points. some way off that, but we have not be

was some of that because goldman sachs is such a trump trade, not to the extent that wilfred just outlined? clearly, bank of america. but, when goldman runs to 260 or nearly 260 and makes this dramatic pullback to 215, was some of that because people were backing away because bannon, some of these folks that had strong tied to goldman back in the day. was that a vote against doik some business there. . >> one is is goldman sachs. is that because they don't have a big corporate banking franchise? therefore, they missed out. the other big loser, wells fargo, when you thought loan growth was ed the debt capital. and the universal banks in the middle are the ones that have really performed, particularly the ones like bank of america. >> it's interesting and ironic that wells fargo is trading slightly above where it was trading before it releases its bad earnings. >> i think it is the one that's okay. >> i think if people thought that was the kitchen sink clutter. in terms of expenses, we're so high and actually, i thought the ceo of sloan were going to get their rate down, which is not close,

goldman sachs is unique. when you take a look at the competitors, bank of america reporting good numbers on tuesday. j.p. morgan chase beating expectations. banks with big trading expected to do well after trump's victory in november. the prospect of higher interest rates and lighter regulation all helped as well. banks are still doing ok. >> the order may make it more difficult for them to hire foreigners. that was regarded as a risk for the tech industry. is that an impression where you are? >> definitely. the visas are issued by a lottery. this is what trump hates about this idea. they were supposed to be issued to highly skilled and highly paid foreign workers but the lottery does not take this criteria into account. they are used by tech companies in silicon valley to higher foreign workers, young graduates . companies must prove people hoping to hire hard doing unique expertise. the issue of these visas did come up at trump's tech summit in november stressing its importance and bringing and retaining ta

goldman sachs. coming up on this program, prime minister theresa may taking to the house of commons and we will look for updates and she looks to get a vote of 2/3 of parliament to get the snap election in early june. the cable rate pushing higher. you are watching bloomberg. ♪ \ jonathan: from new york city, a focus on the city of london where prime minister may is taking questions. the unexpected, if you are suffering from political fatigue call you do not want to see this one. -- fatigue, you do not want to see this one. that vote will come up in a couple hours time. erik schatzker and larry fink, blackrock ceo and chairman joins us. larry, great to have you. how do you factor in the political risk in europe with the broader question of the breakdown and globalization? what are your thoughts? oury fink: i would say from and fourthhe third quarter into the first quarter, the fears have abated somewhat. we still have -- [no audio] and until we understand what brings it means in relation to your and

after an unexpected week quarter for goldman sachs fixed income trading, goldman sachs discovered reasonsto why tied to coalburned mining giant and a struggling retailer. one of the writers on the story joins me now. retail and coal mining, there is a supply -- a surprise. why is goldman affected inordinately as opposed to the banks which surely had similar positions? >> exactly. we know these energy companies in general have not done well. banks have trading depths as well. they take these positions when they need to. this in a wayne we have not seen with other banks. the different traders take a view and if they have a view and it does not go the right way, they burn them. in goldman's case, peabody energy was one of the names and we were looking through and i was talking with people and goldman sachs showed up on this filing in great size. most of the investors involved were so surprised and ended up with $200 million before the company came out of bankruptcy. that was 10 times bigger than anything other bond dealers. huge thingidea why a was taken? of bondd idea in terms trades and th

goldman sachs down sharply 6%.or someone who is meant to be the most committed to fixed income and equities trading over the last decade it's a huge surprise, nomura analyst says "no sense in sugarcoating it. weaker, ficc revenues have driven a substantial ref new miss." for goldman sachs the investment banking and investment and lending businesses both essentially in line. they did also announce a ten cent increase to its quarterly dividend up to 75 cents a share. move that had been telegraphed when it past last year's fed stress tests. in terms of bank of america, net interest income came in at just over $11 billion, 11.1. we're expecting below 11 billion so like jpmorgan and pnc on friday, bank of america has shown better delivery for the improved interest rate environment than wells fargo and citigroup did on friday. paul donofrio the ceo said it would continue to improve this quarter but at a slower pace because of lower long-term rates despite higher short term rates, so that movement will mean improvement le

charlie: he is from goldman sachs. so you can deal with goldman sachs. sen.ren: no, i can deal with the glass-steagall. i mean a real one, not a fake one. meant bythis is what i labeling people just because they are from wall street or goldman sachs or from a nonprofit -- it is who the person is, where is their intelligence and what it is they want to do to change america. sen. warren: of course it is who they are. charlie: it is not necessarily paying them -- painting them with a broad brush, they are from wall street, therefore they have no humanitarian instincts. sen. warren: i will make two points. it matters where you spend your time, when you have seen and what you have done. let me make a different point about a problem we have with goldman sachs and citibank ceos running our economy. when the next ceo of citibank or goldman sachs makes a call to the secretary of treasury. do you think they take it? do you think they listen carefully? charlie: they do. sen. warren: on every single point that comes up. do you think they take a call from my brother david

and marty the big surprise is goldman sachs, which 90% of the time beats estimates. estimates by about 16 cents on the bottom line. what happened? >> well, we going into earnings season that goldman was the most vulnerable because of the perception that the market had. it was kind of percolating that you were going to see a lot more capital markets activities you're going to be able to see a lot of these other pieces of the puzzle, if it was tax reform or deregulation really help gold plan. what we are is a contrast between goldman being a broker dealer that's kind of moved into being categorized as a bank, and bank of america which is a traditional commercial bank which gets a lot more benefit from higher interest rates especially on the short end of the curve. >> bank of america did say that it was an increase in net interest income in both loans and deposits that helped out. but both of these banks pointed to investment banking as a point of strength. >> well, we're seeing investment banking, again, it's going to be the debt placement. so it's not the capital mark

vonnie: that was goldman sachs asset management andrew wilson.d, president will be holding a joint news conference in the next hour. we will bring that to you come alive when it happens. in a few minutes, boston is getting its second for season with the latest called dalton. will the real estate hold up? we will find out from developer richard freeman. this is bloomberg. ♪ vonnie: this is bloomberg markets i'm vonnie quinn. this is some of us with luxury and boston will soon be able to have a second structure by the company. for season residences in this neighborhood, it's going to be called one bolton for short. completion. we have richard freeman joining me now. developer the leading on what is going to be the tallest residential building in boston. where is the confidence that it is going to be filled quickly and at a price point you want to be bill that? -- filled at. >> boston is ready for a fantastic project like this. only a few cities in the world have to four cities. type of nature that boston hasn't seen before. been amazing.have four s

to say it's just goldman sachs bankers takes it out of context. many people in this administration understand how the economy works and that's a good thing for america. >> bill cohen. >> listening, again, to trump's promises on the campaign trail, it leads me to conclude this may be the most cynical person to ever occupy the white house. and we have learned that how quickly now, in fewer than a hundred days we've learned what a cynical man he is. it's incredible. look, there is nothing wrong with having people from wall street serve in government positions in washington. they can bring a lot to the table. but to claim you're going to clean the swamp, drain the swamp and it's not about personnel. i thought personnel was policy. of course personnel is important. if jay clayton is going to run the s.e.c. and also be in charge of goldman sachs what do you expect to have happen? >> to ellie and then dennis. that's sort of the issue. we can put up -- this is not just a media talk. in the nbc poll among the public, 39% now say he is changing business as

carry goan works for goldman sachs. who is to say he is not the most qualified person to have the job that he has. >> what i want to see, is somebody who has had some experience of seeing this economy from the other side. we've had enough people in republican and democratic administrations who have absolutely seen the world from the point of view of the billionaires. that is a problem we have had for a long time. >> rose: suppose you were the president-elect. >> okay, i will take that. >> rose: think about that for a moment. >> okay, got it. >> rose: what are the main tenets of your economic agenda beyond what you want to do in terms of reducing the income inequality, beyond what you want to do to make sure that the middle class is not losing place in the american economic sphere. >> so let me answer this in a very personal way, because this really is what gets me up in the morning. >> rose: i can also say that you have said in this book that this is your life's work fighting for the middle class. >> it is. i grew up in

the likes of bank of america, goldman sachs reporting earnings in a few hours.lar board for you. yesterday slipped about a quarter of a percent. today, as you can see, it was weaker for the most part. down against the euro and the yen. it was also weaker against the pound. that reversed in the last 30 minutes or so the pound down a third of a percent since we heard prime minister may will be making a surprise announcement in 45 minutes time. gold prices are down 0.4% today. down a bit today at 1,287. >> good thing we have a currency strategist on set to talk about the move in the pound. bof ga wolfgang, we will ask you about the impact of earnings, but on the breaking news this morning, the sharp reversal in the pound and now it's lower by 0.3. what does this say about the uncertainty factor now in british politics and economics and around this currency? >> at the end of the day it's another surprise this is what we try to negotiate through. you get this announcement that in 45 minutes we'll talk about this. who knows where this will go, but for corporates this

goldman sachs is on deck. secretary mnuchin throws his support behind a stronger dollar, saying there is a big difference between president trump's talk and action. david: welcome to "bloomberg daybreak." i am david westin alongside alix steel. jonathan ferro is off today. the big story today will be about that snap election. coming up, we will talk about the first 100 days of the trump administration. are bouncingures off the lows. the ftse being hammered 1.6%. you did have yields falling below 1%. they are back up a little bit, now only down one basis point. the sterling is moving much lower on the announcement that theresa may was going to speak today. to theow bouncing higher highest level we have seen since february. a verification of theresa may calling those snap elections. this deal will add point one and working in 2018 -- in 2018in 2019 and 21% in 2019. alix: -- david: coming up at 9:15, we will get more economic data. hour, esther george speaks at it barts college conference. we will have an exclusi

who better to speak on that than andrew wilson, goldman sachs ceo of europe? middle east as well as africa. it should be a great conversation. david: jonathan will be very happy since you touched on south africa. good to have you down there. now, we will be getting the feds if rmc meeting last month. yesterday the fed was in the news for different reason where kersident jeffrey lac resigned abruptly, admitting a role in a week of confidential information. joining us now is mike mckee. tell us about this. is this a big deal? >> not really. he had already resigned. he was going to leave the presidency in october so it is a little bit earlier. he is not a voting member of the open market committee. if you go to the dot plot and you know over the next few years he is one of the two highest dots, way out of the median, it is really not going to have an effect on monetary policy. david: so go to the minister today. that is a bigger deal. >> what is the fed going to tell us about how they are going to reduce the balance sheet? we know they are on course to raise inte

i like goldman sachs for tomorrow. goldman sachs is a wall street banks so let's watch their earnings tomorrow. julie: let's do that. don't mention an interview with michael mckee and the kansas city fed president and on thursday, he will speak to robert kaplan of the alice fed and we will watch for the goldman sachs earnings tomorrow morning. vonnie: let's check in now with the first word news. given the turkish president's sweeping new powers. he narrowly won the referendum that changes turkey from a parliamentary system of government to an executive presidency. main opposition party says those votes should be canceled because of irregularities. in asia, questions are being raised over how much influence china has over kim jong-un. north korea snubbed the top chinese diplomats this month as tensions mounted with the u.s.. they ignored a top envoy for the korean affairs. the corruption trial for south korea's corruption -- south korea's indicted president. she is accused of co-version and leaking state secrets and has

stocks dropping tuesday, driven down in part by these banking stocks, led by the gold standard, goldman sachsman's stunning loss in bond trading revenue. laura keller has some more details on what happened here for goldman in the first quarter. >> as you said, stunning investors. it was like you had fixed income, you chopped up currencies and commodities, maybe kept fixed incomes. mortgages and consumer rates were ok. analysts are trying to figure out how this went so badly. goldman normally does well in bond trading and did not do well. activity was down, we did not see a lot of change this quarter, volatility was unhelpful. bank of america reporting hours earlier they had a great week, 20% up. jpmorgan had a great quarter, citi, as well. betty: is it a fluke? >> it could be. a lot of people are trying to figure out, triangulating if it was certain clients. betty: but no answers yet. laura: no answers. comment, you cannot dress this with lipstick. betty: it is what it is, right? a director of research is joining us, where he manages more than $2 billion with a heavy focus on banks. know you

goldman sachs, karen as well, correctly so. i sort of got on board right after the election, goldman was mid-1 '80s and my argument was, you know, with all the trump agenda, all the rhetoric going on, people are waiting to see if it happens, they will get ahead of the stock. it traded well, it traded north of 250. i thought once it went through the october 31st, 2007 high of 250 and change, this thing was headed to 300, 1.8 times a tangible buck. guess what, it has not traded well since that last quarter. today's quarter was miserable. there is nothing good to take out of this quarter. i thought when j.p. morgan reported the numbers they did. historic has been the case. it couldn't have been the part from the truth. so i think now goldman sets up probably print 200. i have to be consistent. 2, 220 it will get ugly. >> the thing about the earning, you mentioned j.p. morgan in a positive way. stearns and citigroup. it almost didn't matter. what happened to trading on fundamental also if the stock price is still not going to react

goldman sachs and bank of america are the latest to reveal their earnings. i'm sally bundock.a minute, we'll cross over to asia to hear about a potential takeover of one of britain's most popular breakfast cereals. but first, as we speak, the us vice—president mike pence is en route to tokyo where he's meeting with the japanese prime minister, shinzo abe. in recent weeks, president trump appears to have softened his stance on trade after taking aim at some of the world's biggest exporters during his election campaign. in the case of japan it has been accused of manipulating its currency for trade advantage, something the japanese have denied. and the trump administration is hoping to reverse the trade deficit between the two nations which last year stood at around $69 billion. when it comes to their trade relationship, the car industry is key — japan currently exports more than a million cars to the us every year. while the us only sells around 10,000 vehicles a year injapan. that is something trump wants to change. and his administration is keen to strike what it calls a "bal

yesterday, it was goldman sachs and today, ibm. with us for the hour, steve weiss, jim, josh brown, john and kerry. ceo of orius asset management. shares down more than 5%. this is weighing heavily on the index. 58 points to the downside of the dow. the dow is only down 36 points, so without ibm, we could have a positive day theoretically. can you make up an excuse, deuation in markets. cloud and tech services. can you find the good here? >> they're consist ept. it's tough to fibd a company that has lost money for 20, for five years consecutively. over 20 consecutive quarters. there should be a premium for that. it's a company still in transition. however, their growth business is now just under i would say under siege but declining. it's not a stock i want to go after. it will always be cheap and until that transition is complete, which i don't think is soop, you don't want to go after it. it's got to bottom further. i don't know what b warren buffett's going to do about it ch he's there, he's in much higher prices. >> 170 in chan

brought in more money for fixed income trading been goldman sachs. r revenue containing bonds currencies and commodities atost doubled, and came in $1.71 billion, edging out goldman's $1.69 billion. morgan stanley last beat its competitor in the second quarter of 2011. . war of words intensifies plan, lessegic valuable than its own $24 billion takeover approach. the bid proposed to break itself off by carving out a special position within 12 months and returning $1.7 billion to shareholders. months,by most in six the luxury retailer sales in the americas are falling at a faster pace. burberry has withdrawn from u.s. department stores and nonpremium .ocations the americans make up a quarter of burberry'sales. that is your bloomberg business flash. coming up, long-time conservative commentator bill o'reilly out at fox. plus next, for the network, revenue-generating. this is bloomberg. ♪ vonnie: this is "bloomberg markets." bill o'reilly is departing fox news. this stems from recent sexual harassment allegations. , coverings entertainment and media news,

goldman sachs and johnson and johnson.ause financials have paired its losses in half since the noon lows so ex-goldman sachs the banks are recovering. let's get to jackie. >> crude oil seeing a little bit of pressure today. if we close under 52.45, that be under the 50 day and 200 day moving average. the pressure today coming from the saudi arabiian minister saying maybe a little too soon to talk about that extension cut from opec. the market was pricing this in that's what got us over $50 a barrel so that's something to watch. even watt back and forth over the $50 mark we're still seeing crude with a more snaen% gain in the last month. >> thanks very much. we are waiting for president trump at snap-on headquarters in wisconsin where he's expected to sign an executive order requiring companies to buy american, hire american. let's bring in the sign yore contributor, larry good to have you here. this is supposed to be the probusiness president and pin said it now he's going to ion things that make it tougher for business le

bank of america, morgan stanley and goldman sachs to report. nicole: emotions ran high at austin garden is isaiah thomas said the celtics played a day after his sister was killed in a car accident. in the nhl playoffs, canadiens beat the new york rangers. again, up two games to one. by the one in the new york. monday from april 17th. welcome to "fbn:am," your first look at morning markets and breaking news. nicole: mike pence issuing a warning to the government as tensions remain high on the korean peninsula. >> over the last 18 months, career has documented to task, even connect in a failed missile launch as they traveled here visit. the era of strategic patience is over. nicole: parents visited a military base between life in south korea yesterday and spoke with u.s. troops there could name, representative max thornberry, chairman of the house armed services committee shared his thoughts on the latest missile tests. >> well, i think the message is we are strong and we can hurt you. that is what the message from north korea, that's what they a

say thatcs might goldman sachs would benefit from something like this.n't have a retail branch. they would be untouched, whereas a competitor like j.p. morgan would find themselves in a difficult position as it has a foot in both of those worlds. when you read be similar if they really wanted to pursue, go back to the old ways? nathan: i agree the standalone investment banks like goldman sachs and morgan stanley have already figured out some of the perplexing challenges of funding. if you had new institutions that were created as a result of splitting a distant one, they would have to work through the funding relationships. i think that would be challenging and potentially disruptive and in that process, i think it is quite possible, likely, that goldman sachs and morgan stanley would pick up market share. scarlet: the former record undersecretary -- you were the former undersecretary until january 20. you were just in that position. if the that -- if we were to go through something like separating marshall banking from investment banking, what would mak

. >> first and foremost, he's the former president of goldman sachs.tern of institutions and people and places that this president respects, they happen to be new york centric, "the new york times," "snl," don't laugh at me but i really mean it. and goldman sachs. it's the epitome of the place that you respect if you're in new york circles. so i was told by a source that is familiar with the goings on inside the kind of house of cards, inside the white house, that that is something that you can't underestimate. that the president is still kind of, oh, my goodness, i can't believe the former executive at goldman sachs is now working for me. so in that sense, he has a lot of respect for gary cohn. but also as you mention, he's a novice when it comes to politics but knows how to run a railroad and has a position at the economic council that is structurally allowed to hire a lot of policy people to help him, to help him make the case, as i mentioned before, if he wants to make a case about tax policy or anything else in her purchase view a purview and that

nicole: goldman sachs, more of the big u.s. banks post their quarterly results. man expected to report a jump in its first-quarter profit. jpmorgan cha a citigroup has beat the expectations. we will also hear from bank of america before the opening bell. and also to post a higher profit thanks to solid trading in the quarter and interest rate hikes. lauren: president donald trump heads to the heartland today to push a buy american, higher american campaign. he was signed an executive order but will it lead to any changes? we'll take a look at this, not. looking at stock market futures, a broadly lower market. dow futures down to 72-point. s&p futures on 10. nasdaq down seven team. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ say it ain't so. i will not go ♪ turn the lights off. carry me home ♪ ♪ predictable. the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts.

liz: goldman sachs. >> goldman saks which is not a universal bank, which gary cohn was president forthere for so long. so i think the way this looks, that gary cohn is carrying water for goldman sachs. he may truly believe this. liz: inflation lives you're naive. >> no, you're not. i've argued this with jamie dimon, the ceo of jpmorgan, that we should bring back glass-steagall. he may really believe this. i'm telling the optics are not good. it helps his old firm. this hurts jpmorgan. why does that matter? jpmorgan made huge strides in investment banking in areas where goldman sachs used to dominate. one way they do that, because they have a big balance sheet and they're able to leverage that bce sheet to get deals. when you go to jpmorgan and you're facebook, right? you want to do the ipo, guess what you? you can also borrow from jpmorgan. liz: right, right. >> you can do, it is universal model. so, listen, if he does this, you watch jamie dimon run to capitol hill. liz: okay. >> they're not going there yet, initial calls to the trump white house, this ain't even on the docket. we h

the likes of goldman sachs, for example. what do you expect this earnings season. the last one we saw the earnings recession was finally over. do you want to see more confirmation of revenue growth, higher margins? >> would be nice to see better revenue growth, but driving profits is not only challenging in the itself, inflation is not high enough, growth is not high enough. it is still really is a margin story. people have been concerned in the u.s. that margins are quite high. every quarter you say how will u.s. corporates generate more profits, but they do. so they're confident about the earnings for this quarter and this year. it's a question of the valuation on those earnings. we know the multiple for the s&p 500 is 17 1/2 times. that's quite a bit above average. so what you may see is good earnings but not much of a reaction from the market because so much has been priced in. we need to maybe wait for some time for earnings to grow, prices to be flat, and then from there maybe get a second leg in the second half of the year. >> how much of a hiccup will the f

one of the first hires that national security adviser mcmaster made was deana powell, the former goldman sachs executive who had worked for ivanka trump. the scoop today tells me that mr. been in maintains all have is -- mr. bannon maintains all

brian, back to you. >> goldman sachs had a drop yesterday. now goldman down 12% in a month.e is the question. with that drop is now the time to buy. morgan brennan gets what probably is the coolest assignment of the year so far testing out fighter jets for lockheed martin. morgan? >> reporter: so this is the t-50a, the proposed plane for one of the biggest defense contracts of the year. we got a ride inside this plane. buckle up because after the break we're going to give you a wild ride. when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. >>> president trump has promised to rebuild the military and spend a lot of money doing it. defense companies are scrambling to build the best stuff and win the contracts. morgan brennan is live in greenv

cheryl: don't get bigger than goldman sachs maria, only going goldman sachs stock down nearly 3% premarketr results missed street estimates disappointing performance blamed on lower-than-expected trading revenue goldman did raise quarterly dividend 15% to 75 cents per share good news if you own this one taking a look at bank of america this stock is higher ahead of the bell earnings per share revenue topping forecasts last quarter bofa benefiting from jump in trading rising interest rates good for profits, as you can see, a look at united health averages u.s. health insurer reported better-than-expected first-quarter results did raise financial guidance for the year middle of health care reform up 1.69% headlines british prime minister they everesa way calling for early election negotiatings britain composite exit from european union. >> division in westminster will risk our ability to make a success of brexit will cause damaging uncertainty an stability to the country we need a general election we need one now. cheryl: parliament asked to vote for the election tomorrow. okay, no, there is

goldman sachs disappointing analysts, particularly in his income trading unit. better onerica did things, but even its shares were down .44% yesterday. still better than the bank index. finally in the middle east we are just under two hours away from the opening of the emirates markets in dubai and out without me. you see what happened yesterday, dubai was up half a percent. but i'm david was down .5%. almost abia was down percent, close to its lows for the month and track down by al rajhi bank. let's get a check of the first word headlines. sophie kamaruddin the imf has raised its global load forecasts while warning that protectionism could undermine. 3.4% in them january outlook. that is by boys financial markets. growth does remain subdued and the risk of trade warfare is hot. secretary of state rex tillerson says iran is complying with its commitments under the nuclear deal. washington will evaluate about listing more sanctions. , tillerson said an interagency review would be carried out and a decision would be made on its completion. reach compliance miss c

. >> whole premise not filling the place with goldman sachs, you fill it with goldman sachs. former partners a all that know each other, economy plan will be different from what president talked about in course of the campaign. lou: it will be interesting to watch, as this unfolds, and we'll be delighted to have your insight. ed rollins thank you. >> thank you. lou: we're coming right back with much more, stay with us. >> secretary of state rex tillerson said that bashar al-assad must go. >> final outcome in our view is that not provide for a role for the assad or his assad family in the future governance of syria. lou: russia disagrees, we take up the deteriorates relations wean united states and russia. >> and a bombshell report reveals that fbi obtained a fisa wa warrant to spiez spy on a former trump campaign on a former trump campaign no, i'm scheduling time to go oto the bank to get a mortgage. ugh, you're using a vacation day to go to the bank? i know, right? just go to lendingtree.com. get up to five loan offers to compare side by side for free. wait, how did you get

obviously, as you know, we have a goldman sachs ally in the white house.— secretary. we'll have to wait and see what engages us have —— what indications this has. less known was another company which benefited when it citigroup and jp morgan did. but it had a 35% drop in the opening of new checking accounts and a tumble in credit card applications. make of that what you will. airbnb is improving the security of its app and system after homes were burgled by scammers using stolen accounts. they hijacked accou nts stolen accounts. they hijacked a ccou nts to stolen accounts. they hijacked accounts to pull off the gas. i walked the police into this room, which you see is full of stuff, but it was completely anti—. which you see is full of stuff, but it was completely anti-. like millions of people, christian had let out his home while he was out of town as a convenient way to make money. he had done so for years without a problem, but on his birthday, in his home was burgled. while i was enjoying the hotel and having breakfast, and returned to the hotel room

let's join francesco gaza rally at goldman sachs.ould we do a -- what should be be doing with our --? >> for a backdrop, there is an unstable situation in the fixed income markets, yields are too low and spreads are in a very unstable place. you look at france and italy, they are too wide for a monitor tech -- monetary union. something has to give and that is where shorting france comes into play. i think it is a good compromise between those who don't like the level of yields, 90 basis points on the 10 year bond is low, but also fear that we could see the risk quality if emanating from france picks up as we go into the first round of these elections, and therefore spreads could widen. youooks like a place where could still hold some short positions and in a way, have it right in two scenarios. one where core rates selloff or spreads widen. if wouldn't be hit by france this geopolitical situation escalates or the u.s. slows, and that will give it to any fixed income security. risenhis is the 10 year, over the past few days, increasin

bank of america, goldman sachs, charles schwab, the earnings report, the big drop there from goldman s, that's a dow stock, please remember and that's accounting for 50 points of the dow's 96-point drop. don't forget netflix. they're say they're going to have 100 million subscribers by this weekend. it's opened virtually flat, close to its all-time high. how about that? joining us, ashley webster, elizabeth mcdonald, mike murphy and steve cortez, i say earnings, the most important thing that's holding this market up because washington is doing nothing, investors are just looking at decent profits. anybody want to take me on, mike murphy to start with? >> i'm going to agree with you, stuart. i think you have earnings that really are going to prop this market up, and we wanted to see tax reform sooner. that's a fact. but we're already mid april right now, we're not seeing if mnuchin tells us it's going to be delayed, but i think the earnings that have come out so far are good enough to support the markets at these levels and i look really at the financials. goldman missed this morning,

bhp hires goldman sachs to fight off elliott.his is bloomberg. ♪ abigail: this is "bloomberg markets." oliver: time for the bloomberg business flash. children's clothing chain gymboree is preparing to file for bankruptcy. the bank capital controlled company wants to reorganize its $1 billion plus debt load and may turn over control to lenders. inses running more than hundred million dollars. l'oreal has attracted bids from 15 private equity firms for its body shop division. bidders for the next round have been shortlisted this week. and capital, the carlyle group all strategicring options. pulsing or's elliott management is surprised by bhp's "premature" rejection -- paul singer's elliott management. bhp has been working with goldman sachs to respond to elliott. they say the costs of the proposals outweigh the benefits. more, we are joined --joe abigail: paul singer was saying he surprised by the fact that bhp is brushing this off. what is going on here? >> elliott has done a lot of their homework and bhp knows what they are doin

goldman sachs quarter was lousy.an sachs specific after we hear from morgan standly today, lousy price action. now the entire space is starting to roll over. if you think goldman sax for whatever reason is the leadership in the group. i submit it is. j.p. morgue isn't taking that crown. you have a major double top now in goldman sachs going back to halloween of 2007 and the recent high of 253. so technic amy, it does not bode well for this space. >> hmm, what did you do today, ka in? >> i didn't do a 4r09. i have big bank exposure. it hasn't been great the last mochth, or six weeks. but i'm hanging on. i think there is a lot of things happening in the industry, they've moved, obviously the multiples have moved. but they have been so cheap for so long that i think that's sort of a real move going forward. >> i think that you are seeing that reversion trade. so financials outperforming, energy up, industrials up. so scott's longer term, he's still bullish. if you look at what's working right now, i think your longer in

so, the negative about goldman sachs ultimately forced me to figure out what i really wanted to do. i moved to washington d.c. not as an economist or writer about economics but as a fundraiser for the cato institute. my plan was to pay the bills working during the day, meeting donors. that was how is going to pay the bills so i could write at night and on the weekends and that's how i met hall. i met people like all who utterly transformed how i viewed the world and made me even more determined to become an economic commentator and gradually i did. my initial online columns, that was the other beauty of the internet boom is that it made it possible for someone like me to have a voice where before i can have once i began as a writer for the washington d.c. no one wanted to have an association with someone like me but gradually i developed a reputation, and my reputation was one of basically working against, or contradicting the conventional wisdom about economics. i felt the economics profession has lost a way that it had become about charts and formulas and percentages rather than a

with goldman's three biggest competitors, it would help goldman sachs. once a lukewarm figures that out, she would have that happen. >> that is something bloomberg news has written about a little bit as well. giving cover to some of the investment banks. >> of which there are many left. >> quickly, i want to end on bank earnings. is there anything particularly big that you are investing. the interest has been more favorable to the banks. >> i have set this for two or three years. this is a new golden eight on wall street, we are seeing in the numbers. with this regulatory environment, it really is not getting any better than this. this benign regulatory environment, low interest rates, improving economies, less competition, does it get any better than that if you are goldman sachs or jpmorgan chase? that is why it is not going to happen that they split investment from commercial banking. when they did that in 1934 they only affected one bank. j.p. morgan and company. that is my morgan stanley was formed. now it will affect everyone. it is not going to ha

also in the programme, a big day for the us financial sector as bank of america and goldman sachs we'll the lowdown from new york. could a computer come up with the next big medical breakthrough? we'll meet the man who's using artificial intelligence to try to bush back the boundaries of medical science. and as weetabix fails to take off in china, its chinese owner puts the company up for sale. so today, we want to know, what gets you going in a morning? what's your breakfast wherever in the world you're watching us today? welcome to the programme. of course it has to be a full english! send in your comments. in the last few hours, the us vice president mike pence has touched down in tokyo where he's meeting with the japanese prime minister shinzo abe. in recent weeks, president trump appears to have softened his stance on trade after taking aim at some of the world's biggest exporters during his election campaign. in the case of japan it has been accused of manipulating its currency for trade advantage —something the japanese have denied. and the trump administration is hoping to rever

yes, lackluster earnings from banking giant goldman sachs did send stocks sliding, th the second the ion started. how goldman is continuing to stumble and now we see that the goldman affect on the dow jones industrials is also immediate. but, again, we're off the lows down 121 points. goldman posted that rare earnings miss, said offset better mortgage revenue. the nasdaq down 12, the s&p 500 we're watching it down 7.5 points, but you have to stick with me here. the final hour will determine whether all of yesterday's gains, which is more than 180 will be released, at least for the dow. as goldman slashes more an 60 points off the dow, united health is trying to glue some of those points back on, the insurer is one of the dow's biggest gainers, up a full perjury points after it beat on earnings but also it raised its profit projections, and you may not love this part. the company says it's ready to raise premiums to offset uncertainty over u.s. health care laws. i told you guys. they will raise premiums no matter what. have to be a target here when it comes to health care reform. all r

i do think overall goldman sachs will not change biota.his is part of their dna, how they make markets. they could closer to the edge than other firms. in other quarters they will have gangbusters results. you can cut -- over a budget, texas, and health care resume this week as president trump's 100 and mile some quickly approaches. what can washington get done is the question. we are live on capitol hill next. this is bloomberg. ♪ oliver: this is bloomberg markets. scarlet: we had to washington our president trump is approaching his 100th day in office, congress returns from a two-week recess. lawmakers will avoid it ever been shut down hopefully. president trump or release a tax plan on foot -- wednesday. house republicans might restart their work on an obamacare repeal and replace bill. joining us now is kevin cirilli. and a report from bloomberg news. kevin let's start with you. give us a roadmap of what we need to be aware of as we look first at the prospect of a government shutdown. kevin: the white house is saying they are hopeful t

while at vanderbilt, i went the normal route and took a job at goldman sachs and that is where my future career took place. other people were on the trading floor passionate about equities i would look around and watch cnbc and my focus was on the economists talking about the economy. what intrigued me the most is there was a constant stream of commentary in the late '90s saying if the economy grew too much as in people prospered too much and too many working and creating companies there was a negative downside. it would cause inflation. and i thought wait a second. i grew up in the 1970s. inflation is devalsation of the dollar and when the treasury shrinks the value of the dollar. investment surges when economy is growing and the price of everything dropped. i looked throughout history. i remember the first mobile phone in the early '80s. brick sized, half an hour of battery life. if you want to call savannah to atlanta it will cost a fortune and roaming charges and i thought now adays you can get mobile phones for a fraction of the price and i knew from history that the first main fram

guy mentioned goldman sachs.an is over at the plasma. >> tomorrow morning we've got an active morning. they've moved about 1.5%. wednesday morning we have morgan stanley. mo o moved about 2%. the only real big mover there was wells fargo, the down side about 3.5% or so. it's made back a lot of that obviously just today. the other ones? good enough reports. the stocks held in here. i think it's important to go look at the charts a little bit here. the xlf when tim and i were go charting ourselves here, that was really interesting to me. we both identified the fact thatting 23 bucks was a pretty important support level. looking at it to one year, though, this was a really important trend line. we both thought 22 was a level that you could balance it, if you look at that a little bit. this is the level that needed to hold. that's good technical support. looking at goldman sacks, that's a good one, people consider that as far as the investment bank standpoint here. this is the same sort of chart. obviously looks pret

goldman sachs.he wrote a piece accusing the trump deportation force that will drive out millions of immigrants. she joins us now. thanks a lot for coming on. >> thank you for having me. >> so you applied for a job and were accepted at goldman sachs and ascended in the ranks but you were here illegally. that suggests that you used an illegal social security number, someone else's. a stolen social security was it? >> i did. i used a fake social security number that didn't lonbelong to anyone. it was completely made up number. unfortunately that is what young people who are incredibly driven are forced to do, given the immigration policies that we currently have. i was very fortunate to be able to become an american citizen eventually when i got married to a u.s. citizen. but, for millions of people, this line that we continually talk about doesn't actually exist. there isn't a pathway for people to get documented, including the young man that you just mentioned that was deported recently. >> tucker: y

you both know the man, big name, huge name on wall street, former president of goldman sachs.e you know the president's economic policy so well, you advised him on it during the campaign, this is a breathtaking shift. is this the rise of gary kohn, a man who has given to democrats and republicans, just like the president did, but also who even in meetings now, according to the "washington post," says you know, i'm not a democrat, i'm not a republican, i'm a guy that likes to get things done. is this his influence? >> well, he certainly has kind of risen as the alpha male in this white house, there's no question about it. he's become maybe the most influential person, certainly when it comes to economics. by the way, poppy, you said he's somebody i know. i think austan probably knows him better than i do, because he's had a run with the democrats as much as he has for republicans. i've never actually met the man, but all my sources in the white house say he has really become the key voice on economics. in some ways, i like that. i think he's moderated some of donald trump's mor

goldman sachs fell harder than this latest earnings announcement. the last time it fell or did this poorly rather was 2009. that is my point. that is saying something. a big bummer if you will for goldman sachs. look at johnson & johnson how it wrapped up. johnson & johnson's poor results according to analysts will have implications for some other drug-makers. that weighed on entire sector david: bummer, i haven't heard that word a long time. thank you, lori. cheryl: hire american, buy american, president trump detailing a new policy for businesses in kenosha, wisconsin. jeff flock on the scene with the latest for us. jeff. reporter: what better place to do this, cheryl, than a successful american company. snap-on tools. you see the american flag behind me by the way. that is made out of snap-on wrenches what the company was foundedded by the wrench sales back in the '20s. great history of this company here in kenosha, wisconsin. pictures of the president signing his executive order on buy american, hire american, specifically targeting the h1b visa