i'm jonathan ferro.e in the u.s., futures up 34 on a doubt. up about five on the s&p 500. the dollar is the story. treasuries are a bit more stable than yesterday. 2.45 on the u.s. 10-year. david: chinese wall for currency. china tries to slow down the flight of capital as the dollar continues to climb, affecting everything from the valley of debt payments, to the bitcoin. european economic data shows growth, raising questions whether hawks will push for tightening policy in 2017. trump gets his way. he tweets about gm and mexico cancels its plan to build a plant in mexico. is he on a roll? to help us understand what is going on with the yuan and how it fits with the markets, let's bring in john riding from rdq economics. also with us is mike mckee. john, there is a big story in the bloomberg today about possible steps the chinese government could be taking to further restrict capital leaving the country. how serious is this? >> on a macro picture, not that serious. when you look at the total move in the

i am jonathan ferro.reet earnings season officially begins. jpmorgan up in the premarket by about .10%. bank of america is interesting -- revenue is a mess, profit is a beat. the concern is where will you get the topline growth and how is bank of america position to turn from defense potentially towards office? -- you cannot judge gave moses out looking at the longer-term moves. we will do that throughout the morning. big rallies in this space. if you switch up the board quickly to the wider asset classes, bonds very well bid. bid throughout the whole of this week. also throughout the whole of the week, the dollar -- potentially the biggest weekly drop since the election. the euro stronger at $1.06. david: this week, as you know, we have seen several of donald his cabinetnees for go before congress as part of the nomination process. several have taken positions that at least up here on their service to be at odds with the president-elect. one of them we heard about yesterday -- a nominee for defense secre

i'm jonathan ferro.is the state of play. features pretty much unchanged. if the day flat, flat, flat. the record streak continues with the ftse. switch up the boards very quickly and sterling earlier weak, touching a 1985 low despite some really strong data. still, the trade getting through the day is good and they shake it off and that seems to be the theme of her in the u.k.. alix: mark carney going to feel that he later on in the day. here's what you need to know at this hour. straight out of a movie, intelligence agencies tell trump about unsubstantiated reports that the russian government compiled potentially damaging and personal financial information on him. the kremlin and donald trump then i those reports. it's ahead of donald trump's news conference today. former exxon mobil ceo rex tillerson faces a tough confirmation hearing on capitol hill this morning. what will we learn about him and will anything stand in the way of him becoming the next secretary of state? bond king battle. lach wasgund

i am jonathan ferro alongside david weston. counting down to the payroll report. you switch up the board, was the free payroll squeeze of some of the crowded positions. u.s. 10ed at 235 on the year. is what you need to know at this hour. jobs, jobs, jobs. the nonfarm payroll report is what donald trump says is the important goal of the administration. yuan slips. it has been a year since it felt as much in a single day. volatility came after the bank raised the fixing rate less than anticipated. tweeting for jobs. donald trump is moving forward on his -- creating those jobs by tweeting daily. turntime it is toyota's with mr. trump threatening a border tax on corollas. we want to come back to the jobs report, less than 30 minutes away from the nonfarm payroll numbers. is here in the studio and from stamford, connecticut is dean maki. thank you for joining us. mr. obama has created a fair number of jobs. what does that do for donald trump and sometimes it is important to choose your predecessor carefully. does that make it more difficult for mr. trump to create new

i'm jonathan ferro. let's get a check of the markets.his is ahead of the open in two hours, 15 minutes. futures are really stable, going nowhere. the winning streak continues on the ftse 100. if you switch of the board, the scene is like this. treasuries,r pound, three weeks of gains and then again again. 2.37.asis point to we want to get back to the record moves on the ftse 100. the index closed at a record every day since the u.k. markets reopened after christmas, that is eight trading days. i think it has achieved only once before, in 1997. joining us now is richard jones and cynthia o-- the double record. walk me through it. >> exactly. if it closes higher today, which you just showed, the that c is already up, that would be a ninth straight record. that beats the record streak we had in 1997. that is pretty phenomenal. a reminder that the dax did something similar in 2015, where it actually hit records by april. it all depends on the pound, which i am sure richard will guide me through. jonathan: that's one side and commodities are

i am jonathan ferro alongside alix steel. david westin is in washington d c as they prepare for the inauguration of donald trump should here is how -- donald trump should here is how the market -- donald trump. here's how the markets are looking this morning. about 0.1%. we're seeing a real squeeze on shorts on treasuries. right now, the yields are up three basis points. your yield on the u.s. 10 year. a stronger dollar story today with a cable rate of 12234. brexit aftershocks just one day after theresa may lays out her strategy for leaving the european union. they plan to generate 20% of revenue being generated in london now being moved to paris. janet yellen will be speaking with donald trump in san francisco before his inauguration. this follows the biggest rebound on the dollar since its decline in jim. reports say that deutsche bank scrapped bonuses for senior bankers for 2016 because of the lenders' performance. let's get a check on what is going on outside the business news with emma chandra. former president george b

i am jonathan ferro.ou as we get back to work on wall street and the city of london. happy new up 135 on the dow. now positive about 16 on the s&p. the ftse on a record session. if the inflation story dominating the conversation across assets. the pmi is solid and inflation is a surprise out of germany. down andyields are bones are down as well. the dollar on the front foot against the euro as we trade with a one of three handle. david: chinese new year. 2017 starts with strong pmi numbers, showing continuing chinese expansion and new efforts to monitor capital outflows. aesident-elect trump names trade hawk as his negotiator and rams of twitter warnings to the government of the world's second-largest economy. opec down payment. oil hit 18 month highs on news that kuwait and oman are delivering on those promised reduction cuts. thinkers on the move. -- bankers on the move. run fitzgerald and jpmorgan wishes to keep all its jobs in london. paris is looking to lurk as many as 20,000 to british finance jobs.

i am jonathan ferro on this inauguration friday.ive, up about 15 points on the dow after a two -day losing streak. the positive tone as we count you down to the cash open. treasuries on offer throughout much of today. yields of about two basis points. 9%, the yield on the 10-year, and a stronger dollar, the theme. the cable rate a lot weaker on the back of the obvious retail sales, i believe, since 2012 out of the u.k.. alix: take a look at that, crude, self rally. here is what you need to know -- inauguration day --donald trump will become the 45th president of the united states. coverage,u live preview the next 100 days and preview what investors can expect from an unexpected president. george soros unleashing harsh words about the future for the u.s. president. by the billionaire investor thinks donald trump will fail and sink the market. fed chairs janet yellen reinforces her strategy for gradually raising rates and argues a central bank has not been behind the curve. we look at the fed under a trump white house. that is what yo

i'm jonathan ferro. a new trading week on wall street, the dow negative about nine points in the s&p 500. london, second day of trading, down potentially for a second straight day. really interesting moves in the fx market, a weaker dollar across the board in the d10 he the dollar weaker against absolutely everything. president-elect made comments saying the dollar is too strong, the market reacting, recalibrating to that tone coming out of the president-elect's interviews over the weekend. the pound is stronger on what's happening with the inflation rate of the 2.5 year high. and with the politics, as prime minister may unveils her brexit vision, the cable rate gets back to $1.23. potentially the biggest move upward since 2008. alix: would not have expected that. dupont,er of dow and creating a new entity called tao dupont,the world -- dow the world's largest chemical company. erik: alex, thank you. thank you. you have been an enthusiastic supporter of donald trump, and you cited udp growth as a reason

i am jonathan ferro.worst day, futures down 34. we closed yesterday down .6 of 1%. treasury stable throughout the morning. 249 unchanged on the u.s. 10 year, the dollar weak across the board. dollar-yen heading back toward 1.13 -- 113, down .34 of 1%. bloomberg, very quickly, the u.s. fourth-quarter employment cost index at 0.5%, .6.estimate was i want to cross over to emma chandra. you, the fight over president trump's executive order on immigration has taken a turn. he is sally yates, acting attorney general, telling government lawyers not to defend the ban. the new acting attorney general has been the u.s. attorney for eastern virginia. he told justice department lawyers to defend the president's ban against legal challenges. meanwhile, president trump announces his first nomination to the supreme court tonight. the president will select one of two federal appeal court judges, either from denver or from pittsburgh. both are considered conservatives, likely to be opposed by senate democrats. u.k., the h

i am jonathan ferro. the market like this. futures dow.r, down 59 on the it is a largely stronger dollar theme emerging. treasuries are bid on the margin. that's the story across assets. alix: one big mover to the right aid. the type with walgreens could be in jeopardy. the original price was nine dollars a share. the real question is how many more stores will be walgreens conglomerate have to sell? it could be 200 more than anticipated. the presidential ban , we didn't want to highlight airlines off 2%. .merican will refund affairs fares affected by the travel ban. sony had to take a $1 billion write-down on its movie unit. csx on the upside .6%. , hunterist investor arison could be offered the lead role at csx. john: tom keene, how is that dvd player? 28 minutes from the open, futures negative, stocks all-time highs. we caught up with larry summers, who weighed in on what he thinks is a sugar high. each market participant will have to make their own judgment. i am fearful that what we are seeing in markets is a sugar high. n

as jonathan ferro mentioned, sterling weaker, getting your attention as well.stin sits down with carlos ghosn of the sun. this is bloomberg. ♪ tom: we welcome all of you worldwide. "bloomberg surveillance" on economics, finance, and investment. sterling makes the headlines today on a percentage basis. that is a big move, weaker sterling. how bardo gallo is giving us perspective. turkey with -- alberto gallo is giving us perspective. terrific photographs have been put together from around the world on the snow in istanbul. it is amazing to see the heavy snow in istanbul. francine, there is a serious side to this. francine: we worry about hypothermia for a lot of migrants, and we know that turkey has one of the biggest areas for migrants in northern africa. greece, where you have a lot of syrian refugees arriving, there are temperatures that are -15 degrees celsius at the moment. help me with the scene between albania and italy. that would be the original migrant tension within italy. is that still a tension point of , or has thateople been subsumed by everything

jonathan: this is bloomberg daybreak, i am jonathan ferro.k check of things cross asset. futures are stable. 1%, noe up about 1/10 of real drama to the upside or downside. let's go to the fx market, fairly straightforward, it is a strong dollar session in the gtn space. treasury, yields are up 10 basis points. step, uk'st's next highest court rules theresa may must seek parliament for the countdown to brexit. david davis says the article 50 bill will be straightforward and will come soon. anven mnuchin says excessively strong dollar may hurt the u.s. economy. in the drivers seat, donald trump set to meet with the ceos ,f detroit big three automakers as he looks to persuade manufacturers to keep production in the u.s. that is what you need to know. it is generous over u.s. trade. the 11 nations and the ttp represent 45% of exports in the u.s., 38% of imports. this is a great chart that shows the difference. the u.s. is running trade deficits with six of the tpp countries, the largest mexico and japan. the nike ceo and chairman spoke about the

i am jonathan ferro. the markets. the unwind of some of the crowded conviction traits.rump squeeze. health care getting a little bit battered on the ftse. switch out the boards very quickly. yields are lower by 4 basis points. dollar, a weaker dollar against the euro and the pound. alix: what you need to know. trump trade unwinding. a dollars slide in treasury after donald trump's news conference and a wake-up call. more questions about fiscal stimulus and the scope of policy. big pharma bus. losing $25 billion in 20 minutes after donald trump said they were getting away with murder when it comes to drug pricing. south china sea showdown. rex tillerson saying china must be denied access to artificial islands. a move that would raise tension between the world's biggest economies. that is what you need to know. david: a to the trump news conference. the president-elect and made it clear he is talking about jobs. here's what he had to say. president-elect trump: i said i will be the greatest jobs producer that god ever created and i mean that. i am going to work very hard

i'm jonathan ferro. all-time highs across the board 20 minutes into the session.ones for the first time ever. us for aoolittle joins look at the last one thousand points getting us to this milestone. abigail: we take a look at the top three stocks. in reverse 19,000 order. we are looking at boeing first. boeing also reported this morning that they beat earnings by 6%. said that was a solid quarter, although he is concerned about the light guidance. as for the second-best, we are learning -- looking at disney. shares are up nearly 11%. thatberg intelligence says this was despite the fact that fears are abating around cord cutting relative to cable and the pressure on espn, basically that espn will stay positive, plus hit movie after hit movie. finally, the winner, we are looking at goldman sachs up more than 11%. allison williams said they put up a very solid quarter. plus, they had the huge move, helping goldman sachs be the top winner is down 19,000 to dow 20,000. alix: banks, industrials, media. dow topping 20,000 for the first time. oliver is back with us. of t

the cable rate, the jonathan ferro cross rate, didn't work out that well thi for me this morning.t we have seen -- this is as we price in the gap coming from 10 downing street. we are waiting to see whether the speech actually delivers the same kind of narrative going forward. i'm just going to change things call this the miller ferro cross rate. matt miller is moving to berlin, john to new york. as you can see, this has been going in the wrong direction. matt: yes. guy: i just like to point that out. matt: yeah. it wasn't all bad. it was 105 on the day i came here, november 11. it?re not patenting guy: no, miller shows up, just pointing it out. guymatt: right, ok. and we are back where we started. let's get to the parts of europe , in the grip of the surprising cold snap. any jew markets are taking -- energy markets are taking a hit, sending prices of natural gas to a two-year high. it gets cold in the winter, and that shocks people. we are joined by kelly go blow to talk about. , kelly how cold is it supposed to get? without a problem problems that creating for natural gas provi

i'm jonathan ferro. futures trading warmer. little bit softer earlier ron and then we had some solid data out of the united states. initial jobless claims. decent across the board. we switch up the board, this is how things are standing. you hear the opening bell ringing in new york. a weaker euro, a stronger dollar. crude, we looking at are up about one percentage point. as we get these markets open for you about 15 seconds in, let's cross to alix steel. alix: not a lot of movement, but we are seeing marginal potential upside for u.s. equities. the dow jones is trying to break a four-day losing streak. it will be the longest losing streak since the election. a couple positive data points in the u.s. you also have better housing starts, as well. you also had the stronger dollar and heels jumping higher. -- yields jumping higher. with individual stocks, check out netflix. over 7%. a killer quarter yesterday after the bell. reported 7 million new subscribers. 35% above estimates. almost 2 million of them were in the u.s. alone. n

i am jonathan ferro.utures largely positive on the dow through much of the morning, stable on the s&p 500. a new record on the dow just yesterday. we are heading for a week of gains. heading for a week of losses on the market. it would be a three-week retreat, the first since march of last year. dollar strength just coming back a little bit. treasuries going off two basis points on the treasury yield. 2.52. david? david: tensions between the united states and mexico grew yesterday when sean spicer suggested that the u.s. might pay for the wall between the u.s. and mexico with tariffs. >> it is a practice that 160 other countries feel right now our country pass policy is to tax exports. by doing it that way, we can do $10 billion a year and easily pay for the wall. david: this cames on the heels of the trade deficit with mexico. it is not quite as simple as all that, as this chart shows. what has really happened is that u.s. exports have risen dramatically over the years. but so have exports from the unite

francine: coming up shortly is bloomberg daybreak: americas," westin, jonathan ferro, and alix steel.utive order was signed by donald trump on obamacare. how easy will it be to replace and repeal? we will be speaking with michael humant, former health and services secretary. he will give us insight as to how easy or not it will be to change obamacare. also signing -- also shining the lens on bank services as well. there should be some great discussions. good to see you back in the warmth, back from davos. tom: thanks so much, alix steel. we appreciate that this morning. it is the trump first 100 days. maybe we have to get to the trump first 10 days. valliere of verizon, and bruce kasman. the republicans will go for more than an hour in philadelphia later this week. i would suggest that meeting is more important than the meeting with prime minister may. what does speaker ryan and senate majority leader mcconnell say to trump after a bernie sanders-like speech? : you look at that speech. first of all, he said the politicians, both parties, were out of touch and corrupt. that angered a l

for myself, jonathan ferro, and david westin, and the whole of the team, this is bloomberg. ♪ vonnie:e quinn. mark: live from london, i'm mark barton. welcome to "bloomberg markets." vonnie: we are going to take you from san francisco to london and cover stories out of washington, moscow, and dubai in the next hour. first, u.s. economic data crossing the bloomberg. julie hyman is here. julie: we have the isn nonmanufacturing composite. the largest portion of the u.s. economy coming in at 57.2. 56.8% was the estimate. coming in ahead of estimates. more positive economic data has come as a late. service industries coming in faster than forecasted. sincethe highest level october 2015. seeing a mixed picture in stocks as we get these numbers. this was the picture and what it looked like going into it. the dow and the

coming up with bloomberg daybreak with david wesson and jonathan ferro.n the fed. looking forward to a conversation with steve englander. china makes another big attempt to flush out -- francine: with more on china, let's get to hong kong. thank you for joining us. we have been talking about the china epic short squeeze. how do they resolve it? >> we have seen this script before. this happened last year when china came in hard. this is different. isis hard to say if china into -- there is a liquidity shortage. they are really tightening controls. yuan going want the into hong kong. it shows who is in control. chinese authorities are in control of the currency. francine: how much do they have longer-term? -- how much control do they have longer-term? >> they both came in to the market in hong kong and approved -- and improved communications. we are seeing something similar. they seem to be getting ahead of the curve. squeezing the short side of hong kong. break up the chart. -- bring up the chart. it is at 60%. the two spikes get your attention. ist really

i am jonathan ferro alongside david westin and alex deal. we are on record highs across the board.by 11 points. things are stable. just 30 minutes away from the open. treasury yields are higher. the dollar is stronger against much everything. >> america first. the dow topping 20,000, making history on wall street. record highs fueling a rally in global equities. come what may, u.k. government publishing a bill to trickle our -- trigger article 50 for a high-stakes meeting with president trump. johnson and johnson fulfills its goal of getting a new drug category to buy xle on for $30 million. dealer to begest completed next quarter. that is what you need to know. david? david: markets are up around the world today. 20,000, overd over 20,000 for the first time in history. we asked a range of experts what this means and where it goes from here. >> my hope is it is emblematic of a healthy growing economy that is going to benefit all slots of society. -- >> we see a stimulated isironment if trump successful which is positive for the united states and slightly negative for the rest of th

i'm jonathan ferro. back together in the markets, futures pretty stable across the board. u.s.12 year high. if you switch up the board, sterling weakness and it ftse rall continues. yields up. alix: good to see you. here is what you need to know. inflation ahead. factory prices rising at the fastest pace in five years, adding to the global deflation seen in the market. and a post-brexit pound is the gift that keeps on giving, a double record for the ftse 100 as it haeadeads for his ninth all-time high. up senator jeff sessions is -- how many democrats will vote against him, and what potential changes could he make? that is what you need to know. david: they

francine: coming up shortly, it is bloomberg daybreak: americas with david westin and jonathan ferro.today at go david: we have some great people. mark kiesel of pimco will be here, talking about how he is hedging against risk going into 2017. health care is a big topic. we heard yesterday congress moving forward with a reversal on obamacare. we have an interesting new tech approach to this. a big new deal today will be announced on the air about how they will help regular patients save. that and a lot more, tom. westin, thank you so much. this is about your wallet, your pocketbook, and your moldy equity account. tony dwyer is with us. this is on stock selection. the trite answer is, where is the next apple? but do you care about stock selection versus etf's fidelity in the news today, that they will go into the etf business very late? do you really care about stock selection? tony: bloomberg has a great story about black rock and the money -- about blackrock and the money that has gone from active management to passive management. you want sustainable outperformance am a but you want

loomberg i am jonathan ferro with david westin. alix steel is off today.global bonds off a treasury lower yield up in today's session. and in the bond market, as well. stopped session for german bonds. and the dollar is stronger. david? david: here's what you need to know, chinese new year, 2017 starts with strong numbers, showing continuing economic expansion and efforts to monitor r" while president-elect trump names a trademark as his chief negotiator and ramps up 20 warnings from the world's second-largest economy. hits and payments, oil a two-month high on use that kuwait and oman are delivering on those promised production cuts.

. ♪ tom: i am more certain that jonathan ferro will have something to say about this in a bit.e strongly criticizing or exchange markets. mexican peso stronger as well. right now, let's get to our single best chart which is a british chart. it shows the uniqueness of the united kingdom. back in 92, trade weighted soderling -- trade weighted sterling. unique how trade weighted sterling is back to these two moments of 2008 and 1992. francine: the situation is much more complex, now. you talk about reflation and what mark carney was saying, yesterday. we are back with hsbc's stephen king and capital economics' jonathan loynes. the pound's performance has been in line with what many people thought would happen. the peculiarity has been even though the pound has sold off, the economy itself has performed better. the questions of this year and next year is to the extent that the pound falls races headline inflation and squeezes wages, does that mean there is a hangover from the brexit story with weaker growth? is difficult to fund when you are not sure whether or not you are in or ou

. ♪ ♪ jonathan: from new york city to our viewers worldwide, i'm jonathan ferro alongside david westinthe first unchanged session on the s&p 500 since january 1977. the cable rate touching a 1985 low. 120 17. it at treasuries yielding 238 on the u.s. 10 year. alix: it's like straight out of a movie. u.s. intel agencies tell resident trump about unsubstantiated reports that the russian government compiled damaging information on him. the kremlin and donald trump denying reports ahead of trumps news conference later today. the stage is set. former exxon ceo rex tillerson facing a tough

on friday, january 14, i'm jonathan ferro alongside alix steel.poised for the biggest weekly drop since the election, the cable rate 121.85, alyx. alix: banking on trump, earnings on the first election are underway with jp morgan, wells fargo all reporting this morning. bank of america's profit up 43% and goes nowhere in the free market. tepid trade. the trump battle looms and the trade surplus decreases for the first time since 2011 and china is said to put more restrictions on banks to help stop yuan outflows. all clear. janet yellen saying the economy faces no short-term obstacles in a speech thursday. and a slew of officials talking about how to had

and jonathan ferro has not slept in about 26 months.or joining us. -- what are we expect them from theresa may? is this a negotiating tactic? is this just a first step? >> when you have to remember with angela merkel is that she says what she means and she means what she says. she will come out in a few minutes, and we are expecting her to say that britain is leaving the -- is leaving the zynga market. that is probably what she plans to do. but beyond that we may not get much more. beyond that, it is clouded with uncertainty. she is still keeping a lot of stuff close to her chest. tom: if we go from the atlantic charter through all the different multilateral agreements, are we at a point where it there -- where there is a new policy calculus? jacob: i hope not. if we are going this way, we will validate the fragmentation through a structure that goes with it. that structure, if you believe that -- i would hope that this is really a negotiating step, at the end of which basically she would expect maybe better terms in the relations with

i am jonathan ferro alongside alix steel. c as they prepare for the inauguration of donald trump should here is how -- donald trump should here is how the market -- donald trump. here's how the markets are looking this morning. about 0.1%. we're seeing a real squeeze on shorts on treasuries. right now, the yields are up three basis points. your yield on the u.s. 10 year. a stronger dollar story today with a cable rate of 12234. brexit aftershocks just one day after theresa may lays out her strategy for leaving the european union.

ferro is coming by "bloomberg daybreak." he celebrated yesterday. dow 20,000. what does day to look like? -- two look like? jonathanee life propping up the story of the rally. i think the question is the spread between where markets are now, the expectations on what trump can deliver, and the reality to the political machine in d.c. that spread, how wide is it? francine: looking forward to the conversation. thatalso reading a piece what you want is more prosperity for everyone. that does not necessarily go with higher markets. jonathan: the headline does induce more participation potentially. they have talked about the lack of retail participation over the last couple of years. maybe that a headline gets those animals together for the retail investors to participate a little more. tom: thank you so much. looking forward to that later today on "daybreak." right now, robert sinche is with us. you did a panel with me and professor delon in san francisco a million years ago. here is the single best chart. i showed this yesterday. it is simply the idea that germany is a lot like the united states. here is the decline in