haidi: welcome to "daybreak australia." i am haidi lun in sydney. shery: i'm shery ahn in new york. >> and i am in hong kong. to thecounting down major open. >> here are the top stories we are covering. 's top economic's advisers say we are close to a trade deal, however, there are tough trade deals remaining. tripoli raises doubts about the continuing supplies of crude. australia awaits on a date that it comes down, keeping voters guessing about an election. a let's get you started with quick check, major indices finished on a six-month high with the s&p 500 seeing as longest winning streak since 2017. of course we had more optimism of a potential trade deal of china and the u.s. we also had solid u.s. jobs data, payrolls in march beating estimates, rising beating estimates. we also are seeing the s&p 500 just a touch below the 2900 level. u.s. futures looking like this. soph, how are we looking in asia? sophie: asian futures likely pointing higher ahead of investors waiting for a potential breakthrough on u.s.-china trade talks. trade, inflation,

haidi: i am haidi stroud-watts in sydney.r daybreak australia this morning but trading is underway in new zealand. we are looking at a mildly positive start. still waiting for a fresh catalyst. haidi: a very good morning. away from hour the open. ramy: i am ramy inocencio. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." haidi: out of stories this tuesday. flying on friendly skies. washington turns up the heat on trade. since its highest levels mid-november. fighting flares in

haidi: i'm haidi stroud-watts in sydney.shery ahn in new york. it was another down day for health care providers, which dragged louis -- u.s. stocks lower. we also saw ibm weigh on the market. su keenan joins us with a quick recap of the trading action as well as after-hours. su: let's talk about health care, which really weighed on the market as a whole. many strategists will say it is another case of an overcrowded area being unwound. let's look at the way the market ended. a goodh love cannot be thing sometimes. take a look at the market. bonds did not move much. the big decline or, down 3%. nasdaq 100, not seeing a big move. but it was a record close. let's take a look at the big movers. we mentioned health care, six of the 11 s&p 500 sectors ended higher. qualcomm having a monster two day rally where it was up 40% over that time because of the deal with apple. ibm is a big weight on the market. a real disappointment. that offset somewhat morgan stanley's positive results. we go into the bloomberg, financials setting up

haidi: and i am haidi stroud-watts in sydney.et's get more on how president trump is hacking the fed. try vestments -- tribeca investment partner jun-bei liu with us. the president says if fed chair powell had done the reverse and not done quantitative easing, we would see stocks 5000 or 10,000 points higher. [laughter] >> it is always easy to point fingers on the high side. it is very important to me and most investors that the fed remain independent, because as the manager of the economy, you do need to sometimes take long-term views. influenced -- if you are influenced by politics, and a lot of time that is short-term driven and could have ramifications for the long-term strength and health of the economy. to me independence is crucial for the central bank to be able to manage or even appear to manage the economy for the long-term. haidi: there is a fair amount of criticism. is there a sense that politics has filtered through act there is pressure for the fed to stay patient for longer? >> for the fed, the most important thing

haidi. haidi: sophie there with the movers. is offering a trade olive branch as negotiations resume in washington this week. beijing says it will extend this is mention of retaliatory tariffs on autos and include opioid fentanyl in a list of controlled substances. themackenzie joins us with latest. is this the final stretch of the trade talks? tom: it seems that we could be in the last leg of these negotiations. of course, we have china's lead negotiator en route to washington. he is expected re-start negotiations. we know that when the u.s. side, inchin and lighthizer, were beijing, they were going through the text of a proposed document they could put to the two presidents, outlined by line, and a news agency said there has talks.w progress in the the u.s. said the conversations have been constructed. we had to measures by china to oil the called -- on these cogs on these negotiations. around theuestions enforcement mechanism. it has done things like what the functional ban in place. it has been put on a list of controlled --

haidi: i'm haidi stroud-watts in sydney.e a look at we're watching as trading gets underway midweek with adam haigh. the aussie dollar has been strengthening of the last month and now we have a call from goldman sachs saying on the back of the stabilization story in china, keeping your bets on the aussie. adam: we have seen a little bit of a resurgence in the aussie. we have reached a point where some of the short bets against the all the have gone pretty extreme and it is hard to find people betting on any upside. when you are hearing from the folks at goldman sachs, the fx strategy team, basically go along aussie against some of these other crosses like the new zealand dollar, canadian dollar and south african. this is a trade that does not give you some of the idiosyncrasies you would get if you are trading to electric -- directly with the chinese wanyu. it helps to cushion against upside risk from things like potential resolution in the u.s.-china trade talks. you are starting to see a few others build on this trend. you

haidi: i am haidi stroud-watts in sydney.into anded cutting its iron ore target after damage from a tropical cyclone last month. it expects full-year total production to be in the range of 270 milliontons to tons, down from last year. bhp says its facilities did not sustain major damage. sprintt-mobile and tumbled after reports their propose merger is meeting resistance in washington. the wall street journal says staff at the justice department says the deal is unlikely to be approved in its current form. took to twitter to deny the story, saying it is just not true. however, he said there would be no further comment. haidi: jet airways long struggle to keep flying seems to be coming to an end. if lenders are refusing to bail it out. it was once india's number two airline to ground more planes. be nos tell us there will cash injection for the time being. executives are ready to halt operations completely. -- have not been paid for months. shery: expedia group is looking to simplify its ownership model and boost its value. the

haidi: thank you.re increasingly pessimistic about global growth. shery: they warned that momentum has been lost since the start of the year. the wto cut trade growth projections for 2019 to the lowest in three years, ciuting -- citing the rising impact of protectionism and the trade war. stephen engle has more on this. the second consecutive year they are paring back expectations. stephen: we are hearing the imf is likely to cut again, the growth forecast. christine lagarde saying it has weakened more since the last update in january, and in january there was another cut from a previous slashing of the growth outlook just three months prior. we get the next official outlook on april 9 from the imf, but doesn't necessarily look good from christine lagarde's perspective. she was speaking at the u.s. chamber of commerce in washington, d.c., and said we are in a precarious position for the global economy. global growth has lost momentum, sinceys, and it weakened the last imf update in january. this is wha

haidi: i'm haidi stroud-watts in sydney. the big banks in focus in u.s. trading.achs and citigroup delivering better than expected earnings results, but that did not stop both stocks falling and executives defending their strategies to investors. joining us with more is equity research analyst david. were you surprised by the market reaction given the numbers themselves were not awful? david: i think what happened is friday with jpmorgan's results set a high bar. there was not anything to surprising over citigroup or goldman sachs this morning but i think there was a little bit of hope that results, especially revenues, could have been stronger. revenues were stronger than what we were looking for even though they date -- beat on the bottom line but the market is really focused on that today. there were a couple of encouraging things. if you actually listen to the earnings call, the management team was talking about the environment exiting the quarter better then it started. the environment did get a little bit better. it sounds like the tone was pretty good. we a

♪ haidi: good morning, i am haidi stroud-watts in sydney.e are an hour from the australian market open. shery: i am shery ahn. sophie: all i am sophie kamaruddin -- sophie: i am sophie kamaruddin. welcome to "daybreak asia." ♪ top stories this friday, uber shares it plans to go public. they are operating losses since 2016. there are new warnings about the u.s. -- the global economy. the outlook is uncertain. pilot will meet airliner after they considered the 737 max 8 unsuitable for certain high-altitude airports. shery: looking at the market close. it was a thin trading day across stock markets. by healthhed down care and real estate stocks. ybor focus on the start of the earnings season. we have j.p. morgan and wells fargo reporting friday morning. the bigls were one of gainers. s&p 500 closed unchanged. we have stocks weighing on the -- oil stocksti weighing on the markets with wti falling. let's see how we are setting up for the asian markets. sophie: after the struggle on wall street that saw thin volumes, we could see a strange start t

haidi. haidi: double whammy for tesla. you mentioned the record decline in deliveries, the production question, but also the ceo, elon musk, was back in court today with his battle with the fcc. su: the judge was very stern and thethey need to go back to bargaining table to come up with an agreement on how to handle the fact that it appears he sec's order not to send out any more tweets. this is a federal courthouse in downtown manhattan. he is smiling. it is the conclusion of the hearing. he is surrounded by paparazzi and onlookers, sort of greeted like a rock star. he is a fairly big celebrity. his celebrity has only gone so far in the big picture. it has been very rocky for the stock. bearish news of these deliveries feeds investor concern about demand for tesla. the weighted traded this week, a huge drop off the top of the day on that delivery news. the legal news, again, two weeks for them to work out a way to -- muskh this mosque tweeting concern. he tweeted information that parameters for ceo's. haidi: another bad w

haidi: a lot of gifts.ome optimism but making it clear, if some of these they rex turn into a reality, they can make the economy weaker. haidi: it is interesting, when it comes to the u.k., we have seen a certain resilient when it comes to the data but the imf warning if we get a no deal brexit, it can have a big impact on growth. what sort of damage? kathleen: as you know, the bank of england chief mark carney has warned the risk of a no deal brexit is alarmingly high. 2019 gdput the uk's butcast to 1.2% to 1.5% they do see the risk of something much worse. let's look at what they see if there is a no deal brexit. 1.4% off of gdp over the following year. brexit, theo deal cut could get as high as 3.5% and a more chaotic brexit where there is hardly anything agreed and crashing up. it could be even more severe. they set a no deal brexit did not just heard the u.k. but eu gdp could be cut by 0.5% by 2021. a note of optimism because they raised china's growth forecast by 0.1% from this year because of all the

haidi: welcome to "bloomberg daybreak: australia." i am haidi stroud-watts in sydney. sophie: i'm sophie kamaruddin in calling for. we are counting down to the major market opens. ♪ haidi: here are the top stories we are covering in the next hour. u.s. equities staging a late rally. worries about global growth seem to be on the wane. investors optimistic about the trade deal, but warns there is no agreement yet. the bank of england says chances of a new deal brexit are alarming high. jeremy corbyn says talks with theresa may were inconclusive. later in "bloomberg technology," jack dorsey throws his support behind more tech regulation in an exclusive interview with bloomberg. for now, let's get started with a quick check on market close here in the u.s. stocks advanced and saw a close at the highest level of the year. the s&p 500 gained ground for a fifth consecutive session. the longest winning streak in two months. highest bubble since october. more optimism over a potential trade deal between the u.s. and china. facebook fell after bloomberg millions ofthat facebook

haidi: thank you.ook at market setting up. sophie kamaruddin is in hong kong. sophie: we are seeing caution filtered through in wellington, off by four straight session. down for tenths of 1%. nikkei futures are hinting to upside after tokyo stocks rose to a one-month high on friday. aussie shares could snap a two-day decline. oil producers in sydney like it -- likely to track that, if i've month high. flipping the board, we have the aussie dollar holding recent losses after the greenback rose on friday, giving the jobs data. aussie bonds opening higher. iron or traded in singapore from a delivery that has hit a new contract high, $90 a ton. check on the end. as we take a fresh trading week, the ends outlook is dimming, even as yields on treasury is at the lowest than more than a year as directed by the white line on this chart. the yen a short-lived boost we had traders adding that short positions on the end for six straight weeks. this is on signs that economic growth will like it likely that the boj

haidi: a very good morning. i am haidi stroud-watts in sydney. we are one hour away from the australian market open. shery: i am shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." haidi: our top stories this tuesday, asia-pacific stocks facing declines after the rally ran out of steam in new york. rio tinto in focus as sydney opens. missing shipments estimates. trade back in the headline. -- to allow president trump to claim a win ahead of the elections. tom: i am tom mackenzie at the shanghai auto show. bewon't be speaking -- will speaking to the ceo's of lamborghini, bentley, audi, and mclaren. stay with us. shery: a quick check of our markets. goldman sachs was the biggest loser on the dow after missing estimates on sales and trading revenue. 1.1%.w fell it did not help that energy shares were dragged down as the vti felt towards $63 a barrel. the s&p 500 did manage to stay above that 2900 level, which it lastd last week -- topped week. u.s. futures unchanged. let's see how we are shaping up for the asian marke

haidi: thank you. are and chinese officials planning more trade docs in a bid to reach a deal by mid-may -- trade talks in a bid to reach a deal by mid-may. another step closer, it seems. >> it does seem like we are in the last leg of negotiations. you have more dates for your diary if you are 18 -- a keen watcher. 29th, they will have high-level discussions with their chinese counterparts. the following week, we are inspecting them to lead negotiations on the chinese side and fly back to washington. then we are expecting both sides to announce a deal. that is likely in early may. you are looking at a presidential signing summit between president xi jinping and president trump. is the expectation from our sources. last couple of weeks but have heard of progress around the enforcement mechanism. it has not been finalized. this will be a two way enforcement deal. it has gone some way to address the concerns of the chinese. least $50 billion in tariffs to be kept in place. we had that unusual request for

haidi in sydney.uld be negative when it comes to the shipping industry, especially for the container and dry bulk segments. joining us is a shipping chairman in singapore, esben po ulsson. he is at a conference. rate to have you with us. it is very timely. i guess a bit of an existential crisis faced by the shipping industry. if we do get at least a short-term resolution when it comes to the u.s.-china trade war, doesn't have a meaningful impact when it comes to freight -- does it have a meaningful impact when it comes to freight prices and more that would affect your industry? lsson: i think the most recent news we have is that the chances of a revolution to this dispute, at least in the short term, the chances are quite high, so i think most in the industry feel it will be resolved. i think also these trade was pew's, a lot of it in real terms -- i think also these trade wars, a lot of it in real terms, yes, we are hopeful that will be resolved, and we think it looks optimistic at the moment. haidi:

this is bloomberg. ♪ haidi: this is "daybreak: asia." i am haidi stroud-watts.alaysian leader faces the first of many scandal.er the 1mdb here is a look. >> it was supposed to attract foreign investment, instead 1mdb has sparked embezzlement and money laundering investigations across 10 countries. it started in 2009 by the government, the funds initiatives included buying privately owned plants and planning a new district and kuala lumpur. it proved better at borrowing and attracting investment, finding itself $12 billion in debt. investigators have been trying to find out how money flowed through and around the fund and into personal accounts. the u.s. justice department says $4.5 billion went through fraudulent shell companies. this was say $7 billion passed through 1mdb and one of its units. the charges are breach of trust and money laundering. the former prime minister denies any wrongdoing. goldman sachs is facing criminal charges, with prosecutors seeking fines of $3 billion. militimalaysia alleges they misrepresented the funds. the nice that and says it w

haidi: president trump renews his attack on the fed. he says the stock market would be much higher it was not for jay powell's policies. he isare mauve he says increasingly worried about the fed's independence. steve mnuchin says the u.s. and china are ever closer to a deal. he also warns about currency manipulation in japan. shery: let's get you started with a quick check of the markets close. investors were broadly optimistic over the global economic outlook after some positive data out of china. we saw the s&p 500 gain ground for a straight -- third straight week. financials leading the gains with some solid earnings out of jp morgan. the health care sector it was the only sector that was in the red with insurers falling for a second consecutive session as we had congress debating drug prices. u.s. futures holding steady at the moment. let's see how we are setting up for asia. sophie: asian futures posing modest gains. adding a third of a percent this monday. at the start of a week which marks the start of u.s. japan trade talks. eco

haidi: i'm haidi stroud-watts in sydney. york bank governor has indicated a willingness to use as inflation stabilizes and threats to growth amount. he spoke exclusively to bloomberg at the imf world bank meetings in d.c. >> anybody who works in government should really look after growth. we want to make sure the economy is growing. underwrite new growth. pricely have to focus on stability. >> are you concerned about price stability or inflation right now? >> know, last year, we hit a 5.8%.here inflation hit that is unusual for us, but right now, it is under control. inflation this year will be may be in the neighborhood of 3%, plus or minus one percentage point, and that will be the outlook for the next three years, 3%. >> that is a much more manageable rate of inflation. news a problem with inflation last year. now you have what was slower .han expected inflation you hit your target. the slowest rate of inflation of 15 months. did that make the case for rate cuts in may? >> that's in the agenda. we increase interest rates

haidi: always -- in turkey right now. haidi: dan.e are getting lines crossing the bloomberg regarding the murder of journalist khashoggi. the government indicting 16 individuals. six months since that occurred. this is a public designation of 16 saudi individuals under the department of state regulations according to secretary of state mike pompeo, publicly designated the following individuals for the murder of jamal khashoggi about six months ago. we are looking at china or restrictions on some of these individuals as well as other restrictions. the section actually have to do with significant corruption or gross violations of human rights. we will get you more details on that as we get them. let's get you a quick check of the latest business flash headlines. staff leaving. fore is better news the brokerage at home. softbank has named nomura for a lead underwriter. number will get -- numerous will mura will get 30%. ramy: larry fink delivered his annual amount to shareholders, saying he wants to make the firm into one of the leading

haidi: a very good morning, i'm haidi stroud-watts in sydney.ajor markets have just opened for trade. ramy: good evening from bloomberg's global headquarters in new york, i'm ramy inocencio. sophie: i'm sophie kamaruddin in hong kong. welcome to "daybreak: asia." haidi: our top stories this thursday, eu leaders agreed to delay brexit until october 31. a much longer pause meant theresa may wanted. she now faces backlash at home. the u.s. and china edge closer to a trade deal. a broad agreement on how to enforce any potential accord. ramy: australia heads to the ballot box. scott morrison will defend his record next month with laborers still ahead in the polls. let's get straight to the market action and bring in sophie kamaruddin in hong kong. sophie: we are getting a flavor of the risk off sentiment with the start of cash trade. the nikkei 225 off 1/10 of a percent. declines astending it has seen it lose its crown as the third-largest index market value to the housing -- hang seng. the yen is holding steady, around 111 after dropping below the m

haidi: the household wealth affect.to put up this chart, taking a look at government spending, picking up where consumer demand has been waning. you can see the split in the red and blue, consumer household consumption. is this expected to be worse as we continue to see declines in the property market? >> the government has been a strong point for the economy, and the government is rolling out infrastructure spending. we will probably get another announcement on that front tonight, so that is helpful. so there are things on the positive side of the ledger, but the headwinds are pronounced, low wage growth, high debt levels, low precautionary savings, so they really are vulnerable. and we think home prices will continue to go lower with reduced investor buying, increase lender caution, and the tightening in the lending conditions. so we think that there are material headwinds for the economy. >> already in the rba minutes, we actually saw some members concerned about the slump in housing prices, so what do we need to see

this is bloomberg. ♪ haidi: very good morning. i am haidi stroud-watts in sydney.markets are open for trade. shery: i am shery ahn. welcome to "daybreak asia." haidi: our top stories this friday, talking trade. president trump says negotiations are going well and a "monumental deal" may be announced in the coming weeks. he has less flattering words for jay powell. he says the u.s. is doing well despite the

. ♪ haidi: welcome to "bloomberg daybreak: australia." i am haidi stroud-watts in sydney.e kamaruddin in calling for. we are counting down to the major market opens. ♪ haidi: here are the top stories we are covering in the next hour. u.s. equities staging a late rally. worries about global growth seem to be on the wane. investors optimistic about the trade deal

haidi: welcome to daybreak australia. i'm haidi stroud-watts. shery: i'm shery ahn.e kamaruddin. we are counting down to asia's major market open. ♪ haidi: here are the top stories we are coming in the next hours. u.s. stocks rise despite the emergence of the u.s. economy. the nasdaq climbing to a 10th of its all-time high. qualcomm and apple strike a deal, bringing their chip licensing battle to an end.

haidi: a quick check of the headlines.es say blackstone completed the first close for their eighth private equity form last month. -- firm last month. tesla's model three is proving popular in germany, drawing close to porsche. porsche sales dropped almost 10% due to a decision to end diesel production. chinese carrier in new york to cut aviation taxes as part of the measure to support the economy. they rose as much as 17% one point. this is the biggest such move since 2000 15. lower charges will come into effect july 1. vote to blockrow a new deal brexit. the house ofes commons and will go to the house and theresa is breathing a sigh of relief. we will get the latest in a thent and implications for market, as well. this is bloomberg. ♪ >> top white house economic advisor larry kudlow says trade talks with china are making good progress but there is no deal yet. negotiations resumed in washington and he says the two sides are moving closer to an agreement. issues include protection for american intellectual property and an

. ♪ haidi: welcome to daybreak australia. shery: i'm shery ahn in new york.hie kamaruddin in hong kong. we are counting down to asia's major market open. ♪ haidi: these are the top stories we are covering in the next hour. wall street holds a three-day advance after goldman and citi are overwhelmed.s&p 500 slipping . trade back in the headline. leta after tariffs to prestr

. ♪ haidi: welcome to "daybreak australia."asia's major market open. ♪ haidi: uber shares prime to go public. the ipo will be the biggest in the u.s. this year. worldrnings about the economy. the global outlook is really

. ♪ haidi: welcome to daybreak australia. ramy: i'm at bloomberg's world headquarters new york.e kamaruddin in hong kong. we are counting out to asia's major market open. ♪ haidi: here are the top stories were covering. wall street edges higher with the s&p 500 extending its longest rally since 2017. about 1% from an all-time high. oil is at the highest level since november

opens. ♪ haidi: wall street closes flat as the equity rally runs out of steam.again. sterling under pressure as theresa may's move opens the door to a much softer brexit. and

. ♪ ♪ haidi: welcome to "daybreak australia." i am haidi lun in sydney.y ahn in new york. >> and i am in hong kong. to thecounting down major open. >> here are the top stories we are covering. 's top economic's advisers say we are close to a trade deal, however, there are tough trade deals remaining. tripoli raises doubts about e

. ♪ haidi: welcome to daybreak australia. in bloomberg's world headquarters.ie kamaruddin in hong kong. we are counting down to me asia's major market open. ♪ growing pains with the global economy yet again. tit for tat tariffs are damaging world trade. the eu and china bans together in brussels, presenting a united

[laughter] haidi: there is not much to talk about in the market today, so we are babbling a bit. zero .2%.ower by expecting the imf possibly to downgrade once again when it comes to the global economy. that report coming on later today. of the highssome after u.s. stocks have been on a tear. asia as well rallying on those six-month highs. csx two negative at now 0.2%. a little more about how tax cuts are coming to the consumer, whether it is food, medicine, textiles. taipei is one to watch year. flatter on the benchmark, but trade data was actually pretty good. better than what economists were stressing. exports were still in negative territory, but much better than four counts. -- forecasts. nikkei 225 also down 0.2%. then currencies up, japanese yen also weighing on stocks. crude back to the five-month highs. wti. for brent crude just below $71. we were just speaking to that of yesterday. there his forecast is for $75 for brent at the end of the year. those libya tensions, iran sanction waivers. weeks away from president trump making that. steel, that is one to watch. up anothe

haidi: these are the top stories we are covering. u.s. to a one-week low as the latest results did little for confidence in the economy. health care led the declines. the u.s. and china are said to be scheduling new trade talks with top

haidi: here are the top stories we are covering -- president trump says negotiations are going well andental deal may be announced in the coming weeks. the president has less flattering words when it comes to jay powell -- he says the u.s. economy is doing well despite the