a former fulbright scholar in mckinsey consultant, hyman received his from harvard. his writing has appeared in "the new york times," the atlantic, late, bloomberg, pacific standard time enough for quarterly and elsewhere. derek kessler is the author of

julie: and i and julie hyman.or most recognizable for tail ridge sating is peter, and we down with the founder and cio which it claims the approach dating back to 2007. >> if you think about it, university is a safe haven, it's an insurance like safe haven. it's their specifically, and the more explosive it is, the more systematic risk my clients are able to take. many investors who hedge or diversify, gave up must -- much of the upside in equities since the financial crisis. we need only look at hedge fund returns to see that. hedge funds don't necessarily need the s&p 500, but they do have to deliver value for the customers. and clients to think they have been doing that. what did these investors who hedged or diversify to do wrong? >> a lot of portfolio the result is a bill of goods, and that is if you lower volatility through diversification, the dogma of diversification, you will lower the return, but to get the ratio going up all is well, and you can take some leverage. which is crazy in and of itself, and a

julie: i'm julie hyman.hecking on the health of the housing market, the nahb came out with data at 10:00 a.m. and it was unchanged from the prior month, the index at 67. stabilization in homebuilder confidence, the gauge of six-month sales, the outlook rising for the first time since february. we are joined now by gerald the nahb.e ceo of sentiment stabilizing a little bit. some of the recent numbers, the home sales, other kinds of data, it has been sort of choppy in recent months. what are you hearing from your members? jerry: when i talk to the builders around the country, they are telling me that the impacts of the tax reform bill, the fact that the lumber prices, which were really high earlier this year, have come down are really keeping them in an optimistic frame of mind. julie: we have the breakdown by region, which is interesting. take a look at that in the bloomberg. and we've got, if you look at the various measures here, we will walk people through it. northeast, blue. midwest, yellow. south is pu

julie: i'm julie hyman. this is "bloomberg markets."nvestors grapple with trade tensions, let's take a look at what sectors may be poised for gains and losses. fidelity.d of sector where were talking about credit around the globe and how to position yourself. let's talk about equity and how to position yourself. tech has been the big push this year. inks in seen some ch the armor. where do you stand? about what lot happened historically and how that can inform our investment views. people defined tech as leadership. if you look on a sector basis , any which wayt you would like to carve it up, six months, when you, from the 2009, we have ledch by about half what leadership is of the sector level. if you think technology is extended, history and be telling you that is not the case. vonnie: what about other sectors? cycle, we the profit are in the midst of what could be an extended profit cycle aced on the starting point and bait credit -- bank credit. it. is what drives a four to six year-long recovery. the sick goal set to -- cyclical se

i'm julie hyman.et's continue our global tour of the week's top business stories with another sign of amazon's success. on tuesday, the company reached a market cap of $1 trillion on tuesday. >> amazon starts september with a bang, pushing the tech company beyond a market value of $1 trillion, a milestone that apple reached just last month. most notable was the speed with which amazon hit the milestone, shares have more than tripled in the last three years. is this rational? >> this company has executive extraordinarily well. the acceleration and loyalty to amazon prime, the increasing of fulfillment where they turn their warehouses over to third parties, all of the things it does so well. and online retail is still 5% of total retail in the u.s.. so i think some of the optimism as investors rationally looking and seeing that amazon is an extraordinarily well run company in markets that have so much room for growth. citigroup unveiled restructuring of -- operations after citibank announced its cfo and

i'm julie hyman.his is "bloomberg's best," your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a day-by-day look at the top headlines. markets were closed in the u.s. on monday, but meanwhile, troubles in emerging markets showed signs of becoming a full-blown crisis. >> argentina took action today amid its fiscal crisis. president mauricio macri said he would impose taxes on exporters to boost much-needed revenue after the peso changed. >> the key thing here is that government officials took to making presentations and making a more concerted effort at outlining what will be their efforts to decrease the fiscal deficit. in fact, they said today that they will seek to bring the primary fiscal deficit to zero in 2019, one year earlier from what was previously agreed with the imf, in 2020. that is supposed to bring confidence to markets, but we're still concerned that a weakening peso was going to erase complication

i'm julie hyman. the outlook for oil is complicated.cal storm in the gulf of mexico, impending sanctions on iran, and the threat of trade barriers between the u.s. and china were all on the minds of investors, and bloomberg television spoke with several industry insiders to get more insight. let's start with our exclusive interview with nigeria's oil minister, who expects opec and its allies to continue oil production through next year. >> the threats on iran and a couple of countries, there are so many challenges in the wreck. when we add those to what is becoming a more disciplined relationship within opec, you're bound to see positive movement in terms of compliance. >> do you expect that plan to continue into 2019? >> the momentum is still leaning toward that, yes. it has worked for us. think before we dislodge quotas, we have got to see how the marketplace plays out. if come december we find out everything is working well, definitely what you will find is everybody will leave it as it is. we struggle with that decision in june. if

julie hyman is with me. we were obviously all here and working that day and we remember it very well. julie: indeed. as the president noted this morning, 17 years since that day. i was working in london on that particular day. and it was difficult, frankly, to not be at home in the united states when it was occurring, although obviously it was difficult for everyone who was experiencing it around the globe, particularly as americans. so all of these commemorations happening. here is the second moment of silence. [bell ringing] [bell ringing] [bell ringing] [silence] >> peter paul the same -- hassiem. vonnie: another moment of silence for the victims of 9/11. the moment united airlines 93 crashed in pennsylvania. now a check of the markets. we are joined by julie hyman. julie: if we take a look at what is going on with the major averages in the session today, a mixed picture. we have had a tight trading range in recent days, today looking to be no different, at least initially as investors try to weigh the th

it's a hot summer's day and hyman is carrying a heavy load it's not something he used to do as a consultant but now it is a part of everyday life. he's going to see rhoda. he's teaching her german iowa gets the air here than get. out of the car rather has just moved into a women's shelter and jaime is helping her settle in. savvy. baby i was the baby doing look there's something for the baby. they are where they come forth with. do you like it. yes on here rhoda is from somalia she says it is a terrible place for women and girls female genital mutilation forced marriages and their early teens her husband was abusive and she fled at the age of sixteen that was ten years ago she sought asylum in the netherlands then came to germany where she has been facing deportation so. do we need this out of our way that no we don't ok we'll take it to the trash. kind of went to see a lawyer on brother's behalf he's written back. dear mr beck the deportation order for mr hubbard under children has been suspended deportation to the netherlands is no longer possible. and i need to learn his nickname at leas

a former fulbright scholar in mckinsey consultant, hyman received his from harvard. his writing has appeared in "the new york times," the atlantic, late, bloomberg, pacific standard time enough for quarterly and elsewhere. derek kessler is the author of the end of the job in the future of work and the deputy for quite some work. her reporting has been cited by the "washington post," new york magazine and npr. tonight mr. hyman's new book "temp: how american work, american business, and the american dream became temporary" every working person in the united states asks the same question. how secure is my job? regeneration, roughly from 1935 to 1970, business and government leaders embrace an american work force routed instability. but over the last 50 years, job security at the postwar institutions that insulated us from volatility have been swept aside by a fervent belief in quote, unquote the market. "temp" is a riveting read for anyone grappling with the inequities of contemporary capitalism. showing us the decades long evolution of the present economic taking a cl

i'm julie hyman. ," your "bloomberg best weekly review of the most important business news, analysis from bloomberg television around the world. let's start with a look at the top headlines. markets were closed in the u.s. monday, but meanwhile, trouble --emerging market showed markets showed signs of becoming a crisis. >> argentina took action today amid its fiscal crisis. the president will ask -- impose prices on exporters after the peso continued its collapse last week and concern grew about the ability to finance itself. made arnment officials more concerted effort, outlining what will be their effort to decrease the fiscal deficit. they said they will seek to bring the primary fiscal deficit to zero in 2019, 1 you're earlier from what was previously agreed with the imf in 2020. supposed to bring confidence to markets but we are still concerned a weakening peso was going to reach complications in the next year for financing needs. >> let's turn to turkey. the central bank suggests higher interest

louis hyman new book, - - how the american dream became temporary. every working person in the united states asks the same question. how secure is my job? for a generation, roughly from 1945-1970, business and government leaders embraced the american workforce rooted in stability. over the last 50 years, job security has cratered as a pool for institutions that insulated us from a volatility have been swept aside by our fervent belief " on quote the market. the answer goes deeper and further back than downsizing and can test the most essential assumptions we have about how our businesses should work. anne-marie slaughter, president and ceo of new american rights, thames is a rivetingread with f anyone grappling with contemporary capitalism. it simultaneously shows us the decade-long evolution of the present epidemic of job insecurity. takes a clear eyed look at the explication of women and workers of color. and outlines a positive vision of how americans can prosper both in work and life. without further do, please join me in welcoming louis hyman an

julie: i am julie hyman.r the bloomberg business flash, a look at the biggest business stories. perks thanring more usual to attract holiday workers. it wants to hire 125,000 temporary employees. target will pay $12 an hour and to give 20% discount on certain items. it will also pay time and a half on christmas and thanksgiving. sales growth rates its highest level in the last quarter. that a flopays caused them to lose and then regain electric power steering in low-speed returns. the problem is blamed for 30 accidents into two injuries. from new york, this is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour ap

julie: i am julie hyman, this is "bloomberg markets." gap facing some big hurdles and its turnaround plan. declining mall traffic, we spoke with the ceo. >> we have been fairly forthright in saying the importance of old navy in our portfolio today. if you look at size and profitability, it is surpassed gap brand. still very relevant to our consumers. but it is 50 years old. brands morph and evolve and we are doing work to position gap brand back to its core. with theeen forthright investment community and saying that we are going to be of theible managers portfolio and our job is to create value for our shareholders. what about the banana republic, you are in the middle of a turnaround. what are you doing differently and what is working? >> what we are doing differently is what we had done when banana was at its best. we had a moment lori went through a tortured fashion phase and banana, at its core, and its is from banana at neutrals, amazing fabrics, incredible hand feel, and features at a slightly higher price point for his and hers w

julie: john julie hyman. this is the european close. look at some of the biggest stories in the news right now. sovereign -- the emirates investment company will iner to defend percent stake the spanish growing company. learning the company wants the sale after -- or are is set to unveil a special edition supercar as part of a five-year plan to boost profits. bloomberg has learned details of the so-called icona project could come out later today. new ferrari ceo has called for the raise carmaker to double in progress by 20 to be too. special edition models are in edition. deutsche bank has reiterated it is slimming down its presence in the united kingdom to prepare for brands it. germany's largest lender is planning to frankford to avoid disruption for clients. bloomberg has learned deutsche u.k.'s $350 billion from balance sheet. frank for it is where the regulator is so in some ways it julie: sense. ubs has picked frankford as its post brings it european hub. it also have offices in madrid, .aris, >> we are preparing ourselves. whatev

julie hyman has been checking out the moves. julie: let's talk about theruple witching and reclassification. it happens once a quarter. you do get a lot more turnover in stocks. andtend to get volatility turnover. we see all three major averages higher. are at records. if you dig into the volume story , you will see that volume today is running triple. we also have the classification still intact. will be the s&p communication services that will include things like facebook, google. 10% of the s&p market cap shift session. today's it is the biggest one of these they have done since 1999. it takes effect after the close of trading. in advance of that looking at some of the movers that we are watching today, we have mcdonald's on the rise after boosting its dividend more than analysts anticipated. at&t benefiting over an upgrade at ubs. growth in wireless and warner media. american airlines joining some of its peers in imposing baggage fees on a first or second thosed bag, increasing fees by five dollars. those shares are higher.

julie hyman is looking at the markets.mergenceeresting to yesterday today between large-cap tech and semiconductors which are underperforming. gain andanging onto a the nasdaq as well. 1.2% is the decline we're looking at at the moment. we have been watching apple ahead of the product introduction. we are also watching what is going on with the suppliers to apple. semiconductor index down. talking about the stock specifically. semiconductor makers and contract electronics makers, we have got this decline in skyworks solutions. the 11th straight session that stock has been declining. at its lowest since january .17. seeing a little bit of has an is him -- pessimism. in the u.s. and tech, in china, the bloomberg terminal, the depiction of that, msci china tech, estimated 12 month rise and u.s.tio in white is in blue. you see the spread between the two with china getting much cheaper as the stocks have declined. tech stocks in particular in china. far away from the u.s. or china, tobacco, watching the situation closely. after

nowadays they are forty's off a german courses but hyman says he still has plenty to do above and beyond teaching the language. for women have come along to the job fair vivian has brought her baby with her. this is somebody like the sister the next step will be to help them write job applications. he also helps arrange doctors' appointments and once even rush a pregnant woman to the delivery room it is not easy for newcomers to find work high mysterious them through the process how many job fairs have you been to three but i look at the white special so you know the ropes and have you been to any one i. know your eyes they have to show that you really want to work if you can start right now that's ok. tell them i want to work but in a year's time when i can speak german ok. but. i'm a says many immigrants who are eager to work lack self-confidence and that holds them back he tries to encourage them. or speak out what the business always looking for what it wants to be we discover that it is very difficult you know i'm glad that we only have what we don't. i know what will get you happy

julie: i'm a julie hyman, this is the "european close," on "bloomberg markets,."ney saying that espn screening service has passed one million customers. disney announcing that in a statement. 1%, espn hasg, up been a troubled part of the disney empire. this looks like a bright spot for the unit. atnie: we are looking cannabis, new crypto shares spiting 14% before erasing gains, seemingly little rationale driving the move. iscks linked to the grace, similar to bitcoin last year. luke, is this partially because people missed out on bitcoin? reporter: i think it has to do with the volatility between them and the fact that the coin has not had as much juice as we have noted to have lately. volatility over the past 30 days is at the lows. ay, volatility has exploded to levels bitcoin has not seen since 2014. tradable.thing people are leaping into it without any rhyme or reason. juice is inl development. cannabis-based drinks. what is the outlook for these companies in terms of profits, real revenues? some of them are making decent money. ay camer: but again, tilr in wi

julie hyman has more on the markets. julie: let's take a look at the major averages as we get underway. we have a divergence once again coming back into effect between the dow and the nasdaq. 1%, theow rises 2/10 of nasdaq falls about half of 1%. some of that having to do with apple today and what we are anticipating from that company and also semiconductors continue to be deeply under pressure. the semiconductor index down 2.5%. goldman downgrading companies in the sector. goldman says there was going to be a memory chip price deceleration into 2019. let's take a look at apple. days,he past couple of not unusual for apple to rise in the run-up to new product introductions and then kind of waiver on the actual day. -- kind of waver on the actual day. apple the day after the announcement, various product moving average of 2.1%. -- move an average of 2.1%. on the out with a call memory chip group and there is concern about memory chip prices and where we are in the cycle. you take a look at the bloomberg, i've got the semi

julie: i'm julie hyman. this is bloomberg markets.onnie: audi is thrown down the gauntlet on electric vehicles. vw premium brands is unveiling the first of several that are a powered models due out by 2020. we are joined by bloomberg's david westin who is joined by a top audi executive. david: we are joined by scott keogh. you got your first all electric vehicle. why now? i think we've hit the perfect time. the market acceptance is building each and every day. the second thing of course, we want it to launch with what we call a proper audi. not a quirky car. a full stop audi that is electric. and with the cost of batteries and the technology we can put ourselves in a position to make a profit as well. those three things came together that's when we want to hit the markets. what's the price roughly on this vehicle and why did you pick that price point? >> because we want to sell this vehicle. we want to make a little bit of profit. the car is $74,800. that is where the market is. it's the largest chunk of vehicles and we wanted to make

julie hyman is back.e are looking at the one year chart to show that they have not been doing very well, but it is one of the best-performing groups and today's session along with financial stocks, a bit unusual that we see the two rise in tandem. we have 10 year yields pushing fire today and typically, higher yields are not good news for utilities. the look at the one-year chart of utilities versus the 10 year, you will see an inverse correlation between the two. these companies tend to carry a decent amount of debt. so that means higher borrowing costs for them, but today's session is different. but is the 10 year chart, let's focus on what is going on in today's session. shares are hired today along with edison international and that is after the passage late last week of legislation in california that potentiallyility for the two countries related to wildfires that have been ongoing. there was a lot of concern over their connection to those wildfires. they even raised the specter of bankruptcy potenti

a former fulbright scholar in mckinsey consultant, hyman received his from harvard. his writing has appeared in "the new york times," the atlantic, late, bloomberg, pacific standard time enough for quarterly and elsew

here's julie hyman. off ofstocks coming their loans to some extent after record closures for the major averages last week. we are now seeing the informal start to fall. inwing further rocking this u.s. stocks. we've got rocking this even within one of the sectors that we are watching today and that semiconductors. a lot of commentary coming out of the cell side today. amd getting a couple of upgrades to its price estimates. one from jeffries. the other from calendar. they say amd will ship a server microprocessor unit for the first time in recent history if not ever. ever court also positive on chips including nvidia. those shares are higher. orethe same time everc is downgrading shares of seagate . sticking with technology. we're all watching the brett kavanaugh hearing today. later in the week we've got social media executives don't want to be on capitol hill before the u.s. senate intelligence ready. we've got facebook falling today. it was also downgraded. michael nathanson serving there is a toxic g

vonnie: julie hyman with our stock of the hour. the markets are not moving that much.ower" is next. this is "bloomberg." ♪

julie: and i am julie hyman. months of trouble in the banking system in 2008 was a surprise. norman king spoke with guy johnson in london. july 2008, eight was clear that confidence in the banking system was waxing and waning and only a recapitalization of the banking system both in u.k. and the united states would solve the house him -- the problem. we spent a lot of time trying to persuade the government to do this. britain was the first to do it. 2008, after that, one month things seem to be improving a bit, the next month things are getting worse. something deeper would have to be done. brothers was the , thef most people's list institution that would get into trouble. bernanke made it quite clear that, in his judgment, if the fed had not then dramatic action, every major financial institution in the united states could have failed. that is a pretty strong statement. that became clear as we moved towards the autumn. sundaya that somehow on 14 september, we were happy with what was going on and, on the 15, it

julie: and julie hyman. this is the european close. time for the bloomberg business flash.ook at the biggest news stories. there's a report that the german government is open to the idea between a merger of deutsche bank and commerzbank. finance minister left schulz -- olaf schulz could envision it. the world's largest supplier of semiconductors used in cars is looking beyond the automotive sector. the california company will help -- the price represents a 16% premium to idt's close yesterday. fashion label badgley mischka marks its 30th anniversary on saturday during new york fashion week. to label has plenty celebrate. it's enjoying its best sales ever this year. mark badgley and james mischka are the cofounders and they join us in studio. congratulations gentlemen. 30 years. how have you managed to do it? fashion is notoriously difficult to last in. >> 30 years is a lifetime in this industry. the most it's one of difficult businesses. it's truly gratifying. it moves at such lightning speed today. voices, so many choices, so much competition. you never have a chance to ge

julie: i'm julie hyman, this is the european close.have more on our top story -- one of our top stories, paul manafort has decided to plead guilty to charges brought by special counsel robert mueller. this would allow manafort to avoid a second criminal trial but it's unclear if he will operate with the probe of russian election interference. we are joined by kevin, our chief washington correspondent. what have we heard from the white house? in terms developments of whether or not president trump would ultimately decide to pardon paul manafort, the previous campaign chairman. we should note that he is scheduled to plead guilty with in $30ller's team million worth of money laundering charges and $15 million in tax evasion. he was found guilty of these charges in an alexandria courthouse a few weeks ago. but with particular regard to bob mueller's investigation, whether or not there would be any type of political part we don't know. the president has defended upon manafort in previous public comments, including here at the white house, j

. >> i'm julie hyman and i popped appeared to continue to talk about the cannabis conversation.harrison is here and a founding possible are -- a founding partner of a company that invests in cannabis for medical uses. we talked to you before. this was before ]= the ribbon the stoxx -- before the rip in the stocks. . are there pitfalls to all the --husiasm we have seen >> seen? >> i think there are pitfalls. we talked about tilde ray -- tilray, chronos, and canopy. they are getting people trying to drive up the price. on the canadian exchange, it is comparable on how to rate is up trading at the 10th of the valuation. you have u.s. names where institutions can still invest and you confront run institutions and australia is the tale. this is a global phenomenon. joe: it is pretty clear in the big picture of things in the sense that this will be a huge market when it is legalized in more places. most of these companies are tiny and will make a lot of money selling marijuana. know who investor to will have brand modes, pricing power, things like that? who will have distribution? how

scarlet: julie hyman, thank you. let's switch to global politics.to meet with south korean president kim jillian -- kim jae -- moon jae-in moments from now. they will talk about north korea and trade deals. we have bloomberg's national security team leader. service north korea. the president's tone has waffled between optimism and frustration, so much so that he canceled secretary of state mike pompeo's recent trip to north korea. what accounts for what seems to be a recent upswing in the tone? >> a year ago at this yuan meeting, the president was belittling kim jong-un as little rocket man, but it has changed quite a bit. the president has been very thatested in the summit south korean leader moon jae-in had with kim jong-un last week. he has expressed a lot of optimism about having a second summit sometime very soon. we do not know that means weeks orton months. we to get means the next few months or by the end of the year. he seems to have settled with the idea that the two leaders have a kyle busch enough that they can meet again and try to get

we turned to bloomberg's julie hyman. julie: technology stocks are underperforming today.posite and 100 both down 1%. even as the dow and s&p hold up much better. just glancing at the dow chemical appellant, walmart, coke, verizon, some of the out performers within that index which are helping it stay above water. at least for the moment. let's look at the companies who's executives have been testifying here. facebook down more than 1%. twitter down 5%. its losses has been accelerating even as jack dorsey has been testifying. aboutof concerns regulation of these various companies. twitter is the smallest by far. most potentially have the to lose. we will keep watching the reactions as the hearings unfold. the damage is not just limited to these companies. broader selloff within technology, with the exception of apple. it has turned around. microsoft, amazon, now back below the trillion dollar threshold. netflix, falling on the day. we also have been watching what is going on with the west versus the rest of the world. if you look at the one-week performance which includes

julie: live from bloomberg world headquarters, i'm julie hyman. i'm lisa abramowicz. joe: i'm joe weisenthal. >> 30 miss from the close of trading, red across the major averages. s&p 500 falling to its lowest level in two weeks. >> the question is what you minutes -- would you miss? president trump ready to impose tariffs on an additional billion dollars worth of chinese goods. two senior executives announcing exits from the company after elon musk smoked marijuana on a comedian podcast. a labor market surprise. wages climbed by the most since the end of the recession as hiring also jumped. president trump amped up his trade war rhetoric threatening tariffs on 267 billion dollars worth of chinese goods. he spoke with reporters earlier today. >> we have added another 200 million. $267d that is another billion ready to go on short notice if i want. the occasion. joining us from chicago the big question right now for a lot of people is have markets already priced in another $200 billion in tariffs, let alone another 267 billion? >> they have not. first of all we have to

more on that in a moment, but first we go to julie hyman would break and -- breaking economic data. 61.3% is the reading here, above the 57.6% estimated by analysts. it is at a 14 year high, as well. 2004,ghest since may of orders and production and employment on picking up in this manufacturing survey. we will be watching for the nonmanufacturing index late in the week, in today's, which -- two days, which encapsulates a larger part of the economy. the numbers offering some positivity here. nonetheless, we are trading lower right now. we have stocks coming off of the record highs of last week, and it tech, materials, health care are some of the jags we are watching -- drags we are watching. take a look at the bloomberg. we have a look at the s&p 500 and that record run. at the same time, the momentum indicator, the relative strength indicator showing that the stocks have reached overbought levels. so sometimes you see coming off of the highs, when we get to that kind of level on this side, like we see it today, come off a little bit from the recent highs. in terms of individual stocks, n

julie: i am julie hyman in for scarlet fu. caroline: i'm caroline hyde.i'm joe weisenthal. welcome to the closing bell coverage everyday from 4 p.m. to 5 p.m. eastern. julie: we begin with market minutes and stocks. we are seeing this divergence once again with the dow performing better here because a lot of the selling is concentrated in technology. nasdaq is down for the third tense -- is down for the third straight session. this is the deepest three session slump since july. it is notable that we are kicking off september here. a period of increased volume when people are getting back to work. the volume in the nasdaq specifically about 22% above the 20 day average. if you look at the 100 day volume, about the same level above. people are selling in tech in relatively high volume. speaking of tech, we just talked about a semiconductor maker, the worst stock in the industry currently. there is analyst pessimism we are seeing within the semiconductor industry. we are also seeing pessimism in the casino industry with when resorts walling -- wynn resorts f

joining us for that is david joy and siemian hyman.we're talking $500 billion at 25% tariffs possibly we don't know. i mean, we're headed headlong towards that why? >> it seems to me the market's done a pretty good job of saying, you know what? we'll worry about these tariffs when there's evidence they're harming the economy. and until then, let's focus on what we do know and the economy is strong, earnings are really strong so i think if this thing lingers well past the midterm elections, i think then we'll try to get -- >> what is the linger? that there's effect? that there's more retaliation? when you say linger, what does that mean? >> i think both of those i think we're probably on a path to, you know -- >> you see both sides stepping back from where they are >> i see both sides digging in and lasting well into 2019 >> i think this is another ingredient for the inflation mix. we have just about every inflation indicator pointing upwards. this is going to add fuel to that fire. i think weal hear more hawkish comments from the fed.

. ♪ ♪ >> i'm lisa abramowicz >> on julie hyman. >> welcome to bloomberg markets.ld headquarters in new york. over the next hour, here are the stories we're covering. additional tariffs on china are ready to go. finished speaking at an event in north dakota. the u.s. labor market continues to run hot job gains rebounded by more than forecast and wages unexpectedly climbing. tesla tumbles again. two top executives leave the company and elon musk smokes marijuana during an interview. let's get a check of the markets. redects everything turning after the president signals he was ready to escalate the trade war. we have heard the president plans to impose tariffs on $267 billion worth of chinese goods. on top of what the administration was already floating. equities had been in the green on the back of that jobs report. they had better expected numbers that send bond yields higher. two-year, you the can see the last time it was this high was in 2008. market expectations popping in tandem. not everybody likes the prospect of higher rates. if we switch up the board you w

lisa: timeout for options inside with julie hyman. julie: thank you.y guest from interactive brokers group talk about this malaise that is seemingly falling on the markets here after last week were at records. with a sort of back-to-school fall mentality, is this a real shift in sentiment that we are seeing? will say thei malaise was almost last week where the market was benignly accepting the fact think there is i a slight shift in psychology. not overwhelming, but maybe a little more respect to risk or thinking about what could be thisg down the pike months, of which there is a lot. however year when the markets move around rather than in one direction. julie: traditionally when you see stocks go down, sometimes you see rotations with more defensive groups. staples have been one of those groups, but we have a chart on the bloomberg showing consumer staples have not done very well this year. you see consumer staples, the etf versus the s&p and the stock you are looking at today so this is not a group. it has bounced a little bit, but not benefited fro

. >> time for options insight with julie hyman. , theining me from chicago ceo prosper trading academyceng a between tech and the dow. the nasdaq falling as the dow manages to remain unchanged. changeseeing any kind of in sentiment or is this a one-off because of washington? >> i don't know that it is a one-off. i don't see it as a sector rotation. every couple of weeks forgetting those rotations. a lot of that is a risk off. may be too late but ahead of our lord during the hearings. i don't see this as i rotation. there is really no panic out here. doesn't seem like there is the perception there is a real risk of increased regulation? >> the risk is absolutely real. win, if it will happen is anybody's question. these things usually take longer than expected. there is some short-term risk off because people are worried about that but if anything is going to happen it is going to take months, probably years to take hold. julie: not just the companies who are testifying, the new york fang index, it is down today. alibaba is one of the members of that. that is what your trade is on today.

ed hyman's group isi, says there is nothing in the data a recession is anywhere close to happening.he economic news makes all these other things irrelevant. earnings are not impacted by trade wars. certainly not impacted by judge kavanaugh. stuart: the public doesn't know it. >> the story is yet to be told. i totally agree with you. stuart: i'm moving on how the market will open up. what is today? wednesday. been away couple days. sorry about that. it is wednesday morning we'll be ever so slightly lower when the market opens in 20 minutes time. >>> florida's governor rick scott, chased away from a campaign rally. why did protesters force the senate candidate, out after restaurant ten minutes after he sat down? there is reason for it. >>> elon musk under fire again. of the department of justice opening a probe of tesla after going private tweet. what does that mean for muck. judge napolitano will tell us after this. stuart: an outfit called guggenheim partners raise its target to netflix on $420. they had been aiming for 360. now they say they're aiming for 420. the stock premarket i