david: still ahead, exclusive conversations with the president of argentina and jack lew.s sheila patel investors searching for emerging markets. coming up, top business headlines. would you believe teslas market cap blue past forward this week? david: "bloomberg best" david: this is bloomberg. ♪ david: this is "bloomberg best." i am david gura. shift intinue with the u.s. immigration policy that resonated worldwide, especially across the tech industry. the h-1b fisa application process has opened despite president trump's plan to reform the program. new guidelines were issued late friday that require additional information for computer programmers. are you still expecting it to be oversubscribed? >> yes, because we were expecting tougher rules out of the administration. we have not seen that. a lot ofxpect technology companies will use this window to fight for as many as they can. >> when we talk about tech employees from silicon valley, who exactly will be hurt by this? >> you could see a tightening, particularly for the outsourcing companies. it would reduce their use o

secretary treasurer jack lew.n with him for his first media interview since leaving the government post. something that came up numerous times on the campaign trail has come up less when the president took office, the issue of currency manipulation. here you have china with a trade deficit. is that enough to declare china a currency manipulator? how cautiously should the treasury proceed? >> if you look at the criteria, the key issue is, are they taking actions to drive down the value of their currency to gain unfair advantage? the way you look to measure that, are they intervening in order to devalue their currency? for the last year china has been intervening to prevent the devaluation. that makes it challenging to look at the current situation and reach a conclusion that there is currency manipulation. clearly, there is a transition underway from a very managed exchange rate to a more market oriented exchange rate, but it is not a pure market oriented exchange rate. right now, the interventions are in the oppos

a relationship that jack lew says requires particular attention. house chief of staff and director of management and budget sat down for an exclusive interview with bloomberg. lew says the stakes are high going into these bilateral discussions. jacob: it is important to remember this is the first meeting between the two leaders. it is important that they develop a personal rapport. when they agree and when they disagree. there will be occasions for both. the chinese relationship is going leave the most important in the world. the list of issues confronting these two leaders is extremely important in terms of economic well-being, and issues regarding the dprk. highnk the stakes are very where leaders establish that kind of relationship. the preparation that has gone on into these meetings in the past has been quite considerable. asre has in the past been, the expectation of clear deliverables results at the end. i suspect this is more of an initial meeting. there is a way to work together going forward. hopefully a bit of stepping back from the rhet

london time, david will have an interview with jack lew since lou left of that post.ergerview television and radio. coming up in a few moments, we hear from andrew wilson from goldman sachs and set management. there is some activity around the french elections next, this is bloomberg. europe,areas around that is how goldman sachs ceo describes current investor sentiment. today, goldman sachs as management in new york, alix steel asked wilson about market activity post-elections. there's a lot of people who still in the sidelines and waited to see so i don't see a lot of risk expressed in the currency. people are very much waiting and seeing and then, depending on the election outcome, you'll see capital but to work. much can that widen out before it comes out over the next couple of weeks? >> it's hard to make a short-term predation. i think people are waiting, we have less than three weeks to go into the first round, so i don't see expect to see that i don't exactly see much few movements. it depends on who we have in the second round. those are the ones we think are

secretary of the treasury jack lew. plenty for president trump and president xi to discuss in the first face-to-face meeting but there is a growing divide over what to do with climate change. i will also speak to former u.s. energy secretary ernest moneys later in the hour.

london time, i will sit down for his close of interview with the former treasury secretary, jack lew.his is his first interview since leaving the obama administration. this is bloomberg. ♪ david: this is "bloomberg markets: trumps first 100 days ," a focus on policy in the new administration. i am david gura. -- central banks alan she the central bank's minutes will be release soon. we heard the fed chair talk about the balance sheet to we heard the fomc talk about it as well. we are looking here at a four-point short -- $4.5 trillion balance sheet and all that comprises it. it is huge what do we know about their plans to unwind it at this point? guest: what we know is that they are at a very preliminary stage right now, so obviously, they are having discussions, and this is something we will be looking give any minutes to clues about the timing, the composition, which asset class they want to go with, and any clues about when and how they will proceed will be very useful, so we heard from the new york fed president in the bloomberg interview, and he suggested we might see something a

et, david gura will have an exclusive interview with jack lew.is his first interview since he left the poster treasury secretary. oliver: it is time for the bloomberg business flash. is taking a wait and see approach on the pound sterling. that is despite that approach -- that isbanks despite a call from other banks to buy. maybe 116. it is around the slowdown happening in the u.k. economy. inflation is ticking up. because of the devaluation in sterling, that will hurt real wages and consumer spending. oliver: he also said that he sees a slowdown in the u.k. economy and that sterling will affect that. in thefell more than 6% lowest intraday level since 2009 . [please standby] scarlet: still ahead, we will take a closer look at oil paring some gains today. advises to the highest level in weekly data -- it rises to the highest level in weekly data going back to 1992. ♪ scarlet: from bloomberg world headquarters, this is "bloomberg markets." we have commodity markets closing in new york. let's begin with gold falling for the first time this week aft

scarlet: that was former treasury secretary jack lew speaking with david gura.t hour, we will bring you his comments on iran. still ahead, we have the commodities close. from new york my this is bloomberg. -- from new york, this is bloomberg. ♪ scarlet: from bloomberg world headquarters, this is "bloomberg markets." we have commodity markets closing in new york. under pressure after the u.n. reported that stockpiles are headed or a 17 year high. inventory rising as production declines. partially because china and india are reducing their imports. gold edging higher today, recouping half of yesterday's drop. concerns that the meetings could be difficult. trump has blamed china formulating its currency and enabling north korea's nuclear ambitions. oil gaining for a third straight day. this is the backdrop for today's gains. the blue bars show the growing stockpiles of usw ti. the yellow line tracks opec production. the big drop late last year my december, the result of the cartel members and nonmembers reducing their output. oliver: china is the biggest export mar

joe: you don't want to miss this, an exclusive interview with jack lew, his first since he left thato bloomberg's david gura. catch that thursday, 1:00 p.m. eastern, 6:00 p.m. london time. scarlet: that does it for "what'd you miss?" thank you for watching. joe: this is bloomberg. ♪ >> i'm alisa parenti, and you are watching "bloomberg technology." u.s. ambassador to the u.n. nikki haley says if the world body won't act on syria, the u.s. will. she spoke today. her comments came as the investigation into the attack continues and world leaders grapple for a response. president trump today condemned the chemical weapons attack calling it, quote "an affront to humanity." president trump: i will tell you that it's already happened, that my attitude toward syria and assad has changed very much. if you look back over the last few weeks, there were other attacks using gas. alisa: president trump has removed chief strategist steve bannon from the national security council, according to the federal register. bannon's elevation to the council drew criticism from congress and washington's forei

we are interviewing jack lew, this afternoon.h him the battles of fixed income. this is bloomberg. ♪ guy: coming up shortly, bloomberg daybreak: americas. talking about the chelsea points difference. there he is. >> can you hear me? guy: i can hear you. >> fantastic. i want to talk about the tug-of-war between the politics and the markets. we are talking about exactly that. -- 80 peopleout 80 report in the united states and the estimates for payrolls on friday just inching up. tom: i would go with the idea of payrolls going up. looking forward to that. lets you to our bloomberg business flash -- let's get to our bloomberg business flash. stocks arechinese too expensive in almost 20% job and textbook -- text -- highest level in more than six years. mobius also told bloomberg he believes president trump may be able to claim a victory after his meeting with china's president. >> china has to save trump because he has had the failure with the health bill in congress. i think that they are going to come to something that will be posit

alix: coming up, jack lew. his first interview after leaving office.loomberg at 1:00 p.m. eastern. this is bloomberg. ♪ alix: a shakeup at unilever. the ceo announcing an overhaul ,f the consumer goods giant cutting advertising costs and boosting buybacks. this comes after the sale of a $130 billion takeover bid from kraft heinz. deborah aiken joins us. to do a bigbig push shakeup and maybe's been off its food versus personal care business. why didn't they go that route? >> that is something being looked upon the last 10 or 15 years. -- company will always say when the kraft heinz deal first came on board or surfaced, we look more deeply at the food business and it has strong margins. it is a cash cow for the company. alix: what they did today, isn't enough to fend off another bid from kraft heinz? deborah: the stock price is telling us that. the company is top 30 shareholder return. it just had some areas that were dragging the spreads business. out.is being pushed it's looking at shareholder returns, a share buyback. the shares rallied 20%. when ther

. >> jack lew speaks his mind and another exclusive.

. >> jack lew speaks his mind in another exclusive. >>

. >> jack lew speaks his mind and another exclusive. >> i think it would be a big mistake to do an expensive

coming up at willp.m., our david gura have an expose of interview with the former treasury secretary jack lew he left the treasury. that's that on television and radio. this is bloomberg. ♪ vonnie: from bloomberg world headquarters in new york, i am vonnie quinn. nejra: and i'm him in london. this is bloomberg markets. vonnie: schneider national has begun trading on the new york stock exchange. sharesnearly 59 million at $19 apiece and shares are up 2%. alex is on the floor of the nyse with more. >> i am here with the chief executive officer of schneider. chris, the shares sold in the market range, trading just up a little bit so how are you feeling about how this deal went? the whole process, we had great advisors, the associates of the company did great. andid at the schneider way this seems to be what's happening. it's slow and steady. >> you have been a family-run company for a while and it seems like an opportune time to list the company. what do you think is driving the company being up over the last year. we move the nation's economy with trucking and everyone is hopeful we will start

london time, david gura will have the first interview with jack lew since he left his post as treasuryand street professionals silicon valley are flocking to a fitness competition. how it plans to expand its event. this is bloomberg. ♪ decathlonnow, a styled event with deep wall street ties is now in five markets, including san francisco. forddition to raising money charity, there is a tech component. users can place performance-based wagers on athletes. with us is jason kelly and david maloney. i have to ask, this tech element seems to be incentivizing a lot of cash being raised. tell us a little bit about the technology behind all of this? david: itcertainly -- certainly will be more. the objective was how do you differentiate the fundraising experience of a competitive athletic event, so we developed some technology that would allow the athletes to set performance goals and then, rather than begging for donation, the public was able to place performance-based wager on it. essentially, you would aim -- you would elevate the drama on game day. you connect to the performances to the ch

london time, david gura will have the first exclusive interview with former treasury secretary jack lewe post, tests that on bloomberg television and radio. cannot wait for that. this is bloomberg. ♪ vonnie: steve bannon has been removed from the national security council, dan coats, and the german of the joint chiefs of staff chairman of the point jesus that back at the regular meetings of the nsc's principals committee. we will keep on reporting this story. let's get a check of the european market. nejra: stoxx 600 ending the day for it again, pretty much flat after some modest gains in between. how currencies and bonds are doing with sterling climbing for the first time in three days after u.k. services and pmi data , the 10-year gilts yield up after questions of the rally being overstretched. attention homeowners age sixty-two and older. one reverse mortgage has a great way for you to live a better retirement... it's called a reverse mortgage. call rfree information kityour with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the w

eastern, our own david gura will speak with jack lew.he interview on television and on radio. this is bloomberg. ♪ are watching the european close. time for our global battle of the charts where we take a look at some of the most telling charts of the day and what they mean for investors. as always, you can access these charts on the bloomberg by running a function featured at the bottom of your screen. kicking things off, emma chandra. emma: you can see my chart is on the bloomberg. 's meetingesident xi with president trump in mar-a-lago in florida today, i thought we would take a look at that relationship between the u.s. and china. donald trump is that a lot of things about that relationship, but one of the things he has it is that he is called china the grand champion of currency manipulation. i wanted to see if that was true. in the u.s., the treasury has three criteria for determining manipulation. bilateral trade service of $20 billion, another one that is within 3%, and consistent one-sided fx intervention. and what this chart wi

secretary of the treasury jack lew. there will be plenty for president trump and president xi to discuss in the first face-to-face meeting but there is a growing divide over what to do with climate change. i will also speak to former u.s. energy secretary ernest moneys later in the hour. president trump begins two days of meetings with president choosing thing. the two heads of state are excited to discuss north korea after president trump promised to be tough on trade. joining us from the florida is kevin cirilli. the white house yesterday insisted there would be no golf at this meeting. what is the white house expecting us -- telling us to expect over the next few days. kevin: no golf but plenty of policy. air force one is expected to land at palm beach air for. president trump is being accompanied by senior administration officials such as wilbur ross and steve mnuchin. they will then head to mar-a-lago will they -- where they will begin a series of meetings with president xi as well as his administration officials o

. >> even jack lew is saying something. >> about thor, mr. med? >> how did we get on him?> jack lew is from queens so maybe he'd offer some little advice. >> i don't know if he's a mets fan. >> they looked good yesterday. >> only 161 wins to go. >> well we're in first place. >>> meanwhile, tesla leapfrogging ford to become the nation's second most valuable automaker in terms of market cap surpassing the $47 billion after tesla reported record quarterly deliveries and ford had the disappointing march sales but there are skeptics when it comes to valuation. walt mossberg tweeted "i admire tesla and elon musk but this is the billionth example of why stock market valuations do not reflect reality." follow up reporting musk said "exactly, tesla is absurdly overvalued if based on the past but that's irrelevant. a stock price represents risk adjusted future cash flows" as musk said, jim, stormy weather in shortsville yesterday. >> yes, he's a natural born comedian, too. triple threat guy. look at ibm, 161, $160 billion and say nothing should be bigger in tech than ibm, i'm refere

. >> president obama, jack lew, all wanted to take the trillions of dollars corporations have over seas and repatriate them here. what president obama didn't do that president trump is quite successful at, is sell it. so when you look at these 100 days to jim's point, they've created a lot of noise and enthusiasm. >> yeah. >> when you look back is that the mistake president obama made, whether it's taxes or tpp, because when you look at the noise that the trump campaign made without any substance behind it on some level it really works? >> yeah. well, obviously, it works because he would be the first to point out to you he's sitting in the white house because it works. it works as a way of building political support. i think the jury is definitely out to see whether or not it's a way, a successful way of running the greatests country in the world. this is a different style than we've seen from previous presidents. this chaos, this kind of frenzy, is something that worked for president trump at a political context. i don't know if it works when it comes to running the country. the early

treasury secretary jack lew at 6:00 p.m. u.k. time. mission to mar-a-lago.e president xi president trump hold their first face-to-face meeting today. it will cast a long shadow over the meeting. in the wake of american protectionist rhetoric, president xi has cast himself as a champion of free trade and globalization. it's a delicate time for the chinese president and what is the equivalent of an election year and one party china. how can both leaders save face and leave the meeting with a win? economics isad of still with us, do you think is more important short-term at orst then the fed minutes what we hear from mario draghi? michala: i think it's an incredibly important meeting because it will tell us about the status of the world's two largest economies. it will be key in shaping what happens to global growth over the medium term. how much we see out at meeting today is another big question, but there is room here for what i would call a positive compromise, which could be something along the lines of china promising to open up more softening its.s. stan

global-liberal wing of the trump administration that is not that the of a difference between comets that jack lewstatement, they say that not many play the currency markets. but when it comes to trade, it is a different story. theen mnuchin talks to treasury department. so i think the division of labor within the administration is something we have to be more sensitive to. it i'm not so sure a general in the global is liberal hand. i think there is a new rule and the rules are not defending u.s. interests or they are not being enforced. david: let's use the syria attack as an example -- the white house is adamant here that there isn't a change in policy toward syria. have to look and wonder what this leads to next. you satisfied that we have gotten any indication of what the policy is? part of thes problem. the uncertainty sends misleading signals to officials. it isn't like he is building a casino are getting a trademark or buying a used car. uggla watching what he says. and what he says is very important and people take that. so when the sense that ukraine is not in the u.s. taxpayer interest.