i'm kailey leinz.loomberg. alix: thank you. deutsche bank shares trading higher, help leading the dax higher after their bank officially tapped christian sewing to replace john cryan as ceo. sewing will take over europe's largest investment bank immediately after cryan struggled almost three years to reverse a slump in bank shares. joining us now is matt miller of bloomberg news. set the stage for us. management stages -- changes across deutsche bank. where do we stand? the reason of all, for the change is clear. three years of losses in a row. really, john cryan had not been able to meet his cost-cutting goals, which is something i have talked with you about in the past. it is a difficult job for a chief executive to achieve. no one likes to cut costs. but it is one thing cryan failed out in the last year. that is the main reason he has to go. he is replaced by a new german ceo. christian saving -- sewing started with deutsche bank as a teenager. able to drive cost cuts through because he is able to w

here is kailey leinz. kailey: president trump backing off the timing of an attack on syria. yesterday, he warned russia should get ready. in retaliation for the chemical weapons assault. today, president trump said an attack could come soon, or not say that all. the kremlin says both sides should avoid anything that could hurt the conflict. and the nominee for secretary of state will say that came out american policy toward russia is now over. mike pompeo will appear for a confirmation hearing today before the senate relations foreign committee. he will try to convince lawmakers that president trump needs to get tough on putin. the u.k. will not pay the bill for the european union until there is a blueprint for a trade deal. that is according to british brexit's secretary. parliament has to sign off on any agreement. it could require the u.k. to pay up to $55 billion to the european union. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. coming up, the battle over a banking regulat

kailey leinz is here.ey: president trump hinting at a location for his meeting with kim jong-un. the president asked about the building known as peace house on the south side of the motorized zone would be better. -- the demilitarized zone. says theeo israeli-palestinian, just a low priority. pompeo: palestinians to return to peace talks with israel. rhonda jackson is still assigned to the white house, but it is not addressing reports that the navy where admiral won't be returning to the job of president trump crystal position. role ofn henry took the personal physician after jackson was nominated to be secretary of veterans affairs. he resigned his application after rumors that he bring on the job and over prescribed medication. austria takes over the eu and there is one issue that can't be avoided. he spoke to bloomberg. >> there are some themes we would not choose, but will be keeping us busy. at the top of our agenda will be isxit very this year, 2018, the year the brexit has to be agreed to so that in

kailey leinz is here with "first word news." setback for president trump in that fight over his lawyer. theirral judge rejected initial request to keep prosecutors from reviewing information pulled from michael: -- michael cohen. china is getting a boost to automakers who want better access to the world's largest vehicle market. the government stands to remove foreign ownership limits within the next four years. right now, overseas companies can own no more than 50% of a joint venture with the chinese partner. there was a report that south and north korea are discussing plans to call an official and -- official end to their military conflict. the paper reports that one measure friend in the conflict would be to turn -- return the demilitarized zone along its border to its original state. global news, 24 hours a day, powered by over 2700 journalists and analysts in more than 120 countries. alix: netflix out with first-quarter results posting higher-than-expected earnings and it really upbeat forecast after seeing its strongest su

let's check in with first word news and kailey leinz. kailey: if president trump was to join the asia-pacific trade deal it will have to be on a take it or leave it basis. the president told officials to consider rejoining the transpacific partnership that he left last year but once a better deal than what president obama got. several trade ministers say they are opposed to any renegotiations. president trump calls former fbi director james comey and untruthful slimeball, in reaction to james comey's new book, where he compares the president to a mom us. -- mob boss. there may be a new twist in the fight to succeed house speaker paul ryan. according to the washington post , a sometimes polarizing conservative leader, jim jordan may run. he was the cofounder of the freedom caucus. and there is new optimism among american allies in europe that president trump can be persuaded not to scrap the iranian nuclear deal. say and european officials they have made progress in revising the agreement and are said to be close on agreeing to how to hand

i am kailey leinz. this is bloomberg. david: thanks.ade its next move, ofosing tariffs on a range products like ginseng, nuts. that is about equal to the steel the u.s.num products is taxing now. joining us is erin ennis. a this chart villagers the overall issue with the u.s.-china trade deficit, and at the same time, it does show that the total deficit is $350 billion, and that tariffs will total about $3 billion for the product it is this just a symbol? erin: probably not as much a symbol as an equal and opposite reaction to what the united states is doing. the estimate of what the cost of tariffs are on chinese steel and aluminum that the administration is pursuing separately is equal to roughly $3 billion, thus the tariffs china is putting on is an equal and opposite reaction. david: is this perhaps going to a compass what he wants? he says -- is this going to accomplish what he wants? curtail thectually imports of steel and aluminum, even if he does hurt the united states and agricultural products, has he accomplished his goal? imp

david: we turn to kailey leinz with first word news. good morning. more about the trade wars. both the u.s. and china signaling they are willing to talk to avoid an all-out trade war. larry kudlow said there is still time to work out the differences. after each country announced tariffs on the other's products. the embattled head of the environmental attention -- protection agency -- mounting a campaign to keep scott pruitt in office while he fights a series of ethical allegations. president -- there is more evidence facebook failed to protect people's privacy while making billions from the information. facebook said eta on most of the 2 billion users could have been accessed improperly. mark zuckerberg admits he made a mistake. wei am the first to admit did not take a broad enough of view of what our responsibilities were. i think it is important to keep in mind there are billions of people who love the services we are building because they are getting real value in being able to connect and build relationships on a day to day basis. i proud of our c

i'm kailey leinz.markets, patrick reed, the winner of the 2018 masters golf tournament. ♪ mark zuckerberg will face the senate commerce and judiciary committees. our chief washington correspondent is on capitol hill with senator john kuhn. he is chairman of the commerce committee. kevin: we are here with the chairman. a busy day pay what do you want to hear from mark zuckerberg? is facebookwhat going to do in the future to protect user data question mark secondly, what steps will they take proactively to stop the kind of harmful conduct we have seen in circumstances instead of having to wait weeks or months or years later and then have to come back like he is today and explain it and apologize. kevin: this is like an apology to her. what -- they said they have taken steps. what specifically more do you want to see them do, and what house can they do and does congress play a role in that? sen. thune: the question whether congress lays a role is the question. we want to find out how pervasive the problem

kailey leinz has more from new york. kailey: the supreme court hears arguments today in a high-stakes case over online sales. states say traditional retailers -- states and traditional retailers want to overturn a 26-year-old ruling. candecision says retailers be forced to collect a sales tax only if they have a physical presence in the state. wrestlingjudge still with a way to determine what should become with evidence seized from president trump's lawyer. the judge rejected president trump's initial request to keep prosecutors's from viewing records taken from michael cohen . new home construction rose in the u.s. by more than expected last month. tosing starts were up 1.9% an annual rate of about 1.3 million. the game came in multifamily home starts which increased 14%. china is giving a boost to automakers who want better access to the world's largest vehicle market. on plan is to remove limits foreign auto ownership of joint ventures in the next four years. global news, 24 hours a day, and at tick-tock over on twitte

i am kailey leinz. this is bloomberg. vonnie: thank you.dent trump resizing the price of oil, tweeting earlier, it looks like opec is at it again, recommends the oil all over the place. oil prices are artificially very high. that was from his donald trump accounts. with the russian oil minister today about these comments. think thee actually market is what sets the price, not any organization. there are many factors that affect this process. one of the ultimate factors is supply and demand, one of which is the u.s. shale fields. we have seen a price increase over the past few years, which has driven a shale oil renaissance in the united states. if you look over the last one and a half years, shale oil production in the u.s. has added 1.5 million barrels per day. this is boosting the u.s. shale oil industry. don't forget where that industry was in terms of finance and investment a few years ago. five years ago, everybody was opec announced cooperation. >> you think he is wrong, prices are not artificially wrong? >> we cannot say that someone

i'm kailey leinz, this is bloomberg.on president trump's tweet warning russia to get ready, because u.s. missiles would soon be sent to syria, we are joined by marty shanker. the president's tone on russia has changed quite a bit. dramatically. it's unprecedented for a president to announce what he is planning to do in advance of a military action. for those who criticize donald trump for being ambiguous about russia, this is a pretty strident threat. it's not just we are going to do something with syria of a russia, you would better get ready, you shouldn't be partners with somebody who uses gas to kill his own people. see it in the markets, it's a very unprintable situation. will there be a direct confrontation between the united states and russia? iran is in the region as well. it's basically unprintable. there's collateral damage, the israeli strike earlier killed some iranians, there are russian military people in syria, if there were a strike, how we make sure you don't actually heard some russians -- hurt some rus

we turn to kailey leinz. ration pulling out another argument to support mike pompeo's nomination as secretary of state. senate democrats who failed to back him could undercut the proposed summit with north korea. mike pompeo made a secret visit to north korea to meet with kim. more fallout from the fatal accident at southwest. regulators will order inspections on engines. airlines will be told to conduct ultrasound inspections of fan blades when a certain number of takeoffs and landings. in the u k, a sign that prime minister theresa may faces challenges on brexit. the upper house of parliament has overwhelmingly defeated a key part of the policy. the loss could push the u.k. in staying with a customs union in the eu. the lords action is not binding but it is likely to end up in the commons. global news 24 hours a day on air and on tictoc and on twitter powered in 120 countries. this is bloomberg. alix: thanks. this will come as a big surprise but lyle brainard sounding dovish speaking to regulatory reform at

from london and new york, right to first word news, here's kailey leinz. fting his town on trade. the president has told his staff and to looking to rejoining the asian trade agreement he withdrew from after taking office. he wants a better deal than the one president obama got. expressedtrump optimism about reaching an agreement with china. he says the two countries may ultimately not impose tariffs on each other. present trump is also making a move that could have an impact on one of his favorite targets, amazon. the president has ordered a task force to review business practices at the postal service. he claims the business is losing money delivering packages for amazon, but the post office says it makes money on amazon deal. comeybook by james compares trump to a mafia boss and calls him a congenital liar. jamesent trump fired comey last may and that led to the special counsel investigation. new optimism among a american allies in europe that president trump can be persuaded not to scrap the iranian nuclear deal. u.s. and european officials say they see

here is kailey leinz. kailey: the leaders of the u.s.high-stakes fight over trade. both announced plans to impose tariffs. attention has turned to whether president trump will try to make a deal or squeeze beijing harder parade u.s. tariffs cannot be days.d for 60 the embattled head of the environmental protection agency has an army of an servant of industry allies backing him mounting an aggressive campaign to keep scott pruitt in office a series ofhts ethical allegations. ceos have been trawling -- calling president trump, arguing against firing a man they see as a champion of deregulation. president trump is sending in the national guard to work with states on the mexico border to determine where guardsmen will be deployed. president obama and george w. bush both percent national guard troops to the border as well. the bank of japan is likely to raise interest rates within a year according to the dental bank's former chief -- central bank's former chief economist. he says the boj will act when the core rate hits 1%. global news 24 hou

kailey leinz is here with first word news. kailey: president trump says opec is at it again.artel and its allies are meeting in saudi arabia, discussing keeping production cutbacks in place. oil prices are at their highest in three years. the president called those prices "artificially very high" and said that will "not be accepted. out -- not be accepted." line that hasne been connected between north korea and south korea before friday's historic meeting. brexitmate in negotiations is about to get deeper regarding the future of the border between northern ireland and the republic of ireland. wants to give special status to northern ireland. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. global policymakers adopting a glass half-full approach to the world economy. joining me to break it down is rbc capital markets' head of strategy. welcome. happy friday. i wanted to start with the inflation expectations rise we have seen lately. top americanhe breakeven, german breakeven, and jap

we kick things off with kailey leinz. kailey: we are interested.st today you can see the cost of service in u.s. debt has jumped. -- itsk ironic take that has skyrocketed this year. want to pay attention to this because we have $100 million in treasury auctions. also today we are getting the congressional budget deficit. this is an important chart to be looking at today and can see that at the gtv library. i want to drop us to another interest measure, that is interest income. preparing for bank earnings, some crank investors for bank of america and jpmorgan and citigroup -- all reporting earnings in the next week. as you can see, investors are worried about the flattening of the yield curve. we have that at the top line, and at the bottom is net interest income that is rising. it is. something that analysts expect to continue to rise. we will see what people are saying once the banks report. vonnie: ladies, both wonderful presentations. m in a quandary, however, i like to look ahead, and i think the back chart is fascinating, particularly as we ge

i am kailey leinz. this is bloomberg. vonnie: thank you. let's look at some data. the 10 year u.s. treasury trading at 2.83%. not much has changed. the vix is down the dollar index unchanged. pretty we get 89.52. crude oil futures are higher, 1.8%, and the dollar at 21. gold futures are above 13.50 an ounce -- 1350 announce. let's get to tom keene at the world bank imf spring meeting with a former chairman of the federal reserve. tom: we welcome all of bloomberg radio and television wonderful and lengthy interview with alan greenspan. the chairman of the former leader of the federal reserve system. alan greenspan on the political economics and turbulence we have seen across america politics and for that matter the global economic system. chairman greenspan, wonderful to see you. i must flip here. let's go immediately to the death and the deficit of this nation. you and i celebrate the life of pete peterson, one of our leaders, insane watch out for the debt. on, $155ent on and billion in 1987 when you took over stewardship of the fed, and that we are up to $1 trillion deficits. when

vonnie: kailey leinz the stock of the hour. calls for friction.s is bloomberg. ♪ vonnie: to the biggest names in wall street sat down for a meal, and tensions of their firms ratcheted up. bloomberg deals reporter is here to escort us to our table. i want to know what happened between lloyd blankfein and jonathan gray. one feeling slighted by the other. >> were told the lunch was terrific and they had a pleasant time discussed world affairs. but it did turn into this matter of a tiny new jersey home builder, new jersey's biggest homebuilder, with a capital of less than $300 million. , the issue at heart is this company really needed help and they struck a deal to refinance the company. but in return, the company agreed to go bankrupt. so they can make money. 's goldman sachs has a position of 20 million, so they sold this ifurance and have to pay out this goes through. shery: what does it mean for future business between the two companies? >> blackstone has been goldman sachs is number one equity kind in the past five years. they have brought than

i am kailey leinz a this is bloomberg.or banks to it we wanted to dig deeper into the underlying growth for consumer loans. jpmorganlights, charge-offs climbed by $100 million in the first quarter, mostly driven by an increase in souring credit car loans. up 3% because of that card business. they say their private label credit card business client 16%. is mike mckee, bloomberg international economics and policy correspondent, and david ridder of bloomberg intelligence. can you talked about consumer credit card loans? michael: i want to start with a longer time period. this is fascinating. you look at this chart, the history of lending. on the loans, credit cards, and consumer loans -- non-revolving loans. wen david and i were born, were not borrowing a lot of money. about the time that alix kim long, people were in love with their credit cards. now we are back in love with our credit cards. that is after it fell into doesn't nine. -- that is after it fell in 2009. you see the white line on the far right, the revolving loan

david: let's find out what is going out outside the business world with kailey leinz. ial counsel robert mueller has told white house lawyers president trump remains under investigation, but according to "the washington post congo he does not consider -- post," he does not consider the president a criminal target at this time. the suspect in a shooting at youtube headquarters in san francisco was angry because she had stopped being paid for videos she posted. that according to her father, who warned police she might be heading to youtube. the woman killed herself after wounding three people. china has struck back against proposed u.s. tariffs from chinese goods. impose 20 have present import taxes on 106 american products including soybeans, cars, and aircraft. that matches the scale proposed by the trump administration for high-tech items such as semiconductors. president trump has complained that china violates intellectual property laws. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this i

i'm kailey leinz. this is bloomberg. vonnie: thank you. u.k.rime minister theresa may is set to address parliament over the syrian airstrikes. the decision on more russian sanctions will be made in the near future. we are discussing this now in washington and london. let's start with mark and ask you what theresa may is likely to say about the airstrikes. definite support from the british and french for the u.s. strikes. >> i expect she will say things right much along the lines of what she has already said. she will say there was no alternative but to go through with the strikes. she will also justify the fact that she did this without first getting a vote from parliament. it seems that the fallout so far is pretty contained. are we anticipating more fallout from the strike over the weekend in washington, d.c.? >> we know that nikki haley was on some of the sunday cop shows to newded to -- alluded sanctions or russia. we expect sanctions under consideration today. we don't have the details today. it seems to be something the administration is

i'm kailey leinz. this is bloomberg. vonnie: thank you. to the market action, weakness in tech, dragging down the three major averages, but a lot going on in this particular market. here to discuss his michael regan. and it is not just technology shares, but they are playing a major part. michael: one of the biggest drags because they are a heavyweight, but energy shares are down big as well, and oil plummeting the way it is, similar story being blamed, just the general risk off nature of the market being blamed for oil. some feedback there. and tickets worse and worse -- it gets worse and worse. 600 points on the dow, and this is just an ugly day. vonnie: we are used to that. julie: we are getting worse. and what is not just notable about it being an ugly day, it has no real reason. vonnie: many more reasons now. julie: many small reasons, nothing that really changed today in particular, right? mike: i read every commentary that comes into my inbox and one phrase stuck with me, it said, describing last week, a correction in search of an e

kailey leinz is here with the "first word news." ley: president wants to outline the broad details of the nafta plan next week. technical talks on the finer points of the trade deal and the legal text would continue. china is warning it will retaliate if the u.s. imposes tariffs because of alleged violations of intellectual property rights. the trump administration plans to impose duties on chinese products. china's ambassador to the u.s. says beijing will respond with quote, the same intensity. number -- hit by more strikes. macron's proposals will deny newer higher job security and pensions of existing workers. global news, 24 hours a day, powered by over 2700 journalists and analysts in more than 120 countries. this is bloomberg. worst start to a second quarter since 1929. the s&p breaking through the 200 day moving average, closing below that. how much technical damage was done? -- ing us now is a tough call over the last couple of days. what do you see now in the markets? think they significant technical damage has been done --

kailey leinz is here was first word news. : china says it doesn't want a trade war, but it is ready to fight one. beijing responded today after president trump ordered his administration to consider tariffs on an extra $100 billion in chinese made products. it was an unexpected move that could damage efforts on both sides to turn down the heat and prevent the conflict from getting worse. there are more signs that the three nasa countries may find common ground -- nafta countries may find common ground on the trade agreement. the trump administration is said to have softened its demands on auto production, but is still seeking other concessions. in south korea, former president park geun-hye has been sentenced to 24 years in prison. she was impeached last year over an influence peddling scandal and was convicted of crimes ranging from bribery to leaking state secrets. she can appeal the sentence. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is

kailey leinz is here with "first word news." ump keeping his options open on syria. the president warned russia should get ready for a strike on its ally in retaliation for that apparent chemical weapons assault. today, president trump an attack could come soon or not at all. the kremlin said both sides should avoid steps that lowers the chances of resolving the conflict. rare praise from president trump for a democratic politician. the president tweeted the california governor is doing the right thing by sending 400 national guard troops to the border with mexico. president trump has frequently criticized brown. in the u k, the housing market has been hit by weak demand and there is no pickup and site. the royal institution of chartered surveyors says british homebuyers -- home prices were unchanged in -- unchanged for the second month in a row. global news, 24 hour is a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. earningsming up, bank kickoff first quarter results. that

i am kailey leinz, this is bloomberg.anley out with the first quarter earnings, blowing past estimates. trading up 19%. investment banking up at -- up as well. story for a jpmorgan and citibank who didn't have the great result. joining us now is alison williams and from boston, david donabedian. allison: i think they are more focused on the is this. a have a higher share of 20% from revenue from equity. the other banks have a much more diversified business bank. and morgan stanley is the absolute leader in that business so it looks like they are getting shares to the extent that bigger banks are gaining share and it continues to be a big business. it benefits morgan stanley more than others. is thatthe other thing as we look where some of the weaknesses were in other banks, wells fargo, a have a unique situation there because the stock has underperformed without -- underperformed throughout results. citibank, the card business, some weakness there. and morgan stanley was actually outperforming coming into today and leadin

i'm kailey leinz. --s is bloomberg very bloomberg. raided the agents presidents private lawyer.ed out. he said "it is a disgraceful situation. italy which can't and an attack on our country and an attack on what we all stand for." we are joined by kevin cirilli, bloomberg's chief correspondent on washington -- in washington. with a keyoke senator before the mark zuckerberg testimony. kevin: i just spoke with senator kennedy on what type of regulation potentially could be in the pipeline for facebook as well as other big tech companies. he is a republican and is on the committee that will hear from mark zuckerberg later the second. i will let you listen to what he had to say. americanok is a fine company. i come in peace. i do not want to regulate them. they have done clear things, but there are corrosive effects of facebook. i'm not against a good, i am against down. the facebook system right now is facebook purse -- first and people second. it ought to be people first and facebook second. kevin: other senators that i spoke with said he may have to return in the fall to talk abo

. -- i'm kailey leinz. ending decades of violence in northern ireland.s the man who brokered a peace deal. former senate majority leader george mitchell. thank you for being with us. talk to us about the agreement on the 20 or anniversary and whether you thought it would hold this long. and announced the agreement, i said it was an historic achievement, but i said on the same day that by itself it did not guarantee peace, political stood really -- clinical stability. i recognize there would be for future difficult decisions to be made by leaders. as you know, there is a great deal of difficulty. the independent power has not function for the year. my hope is that the current leaders will summon the courage and wisdom that the leaders back in 1998 summoned, when after a lifetime of conflict, they took the dramatic, difficult, and dangerous step to enter into peace. it was largely held over the last 20 years. vonnie: what is the one ingredient that tips the scale from argument and stalemates to a place where you can move forward with something? i think the

kailey leinz is here with more. why were they downgraded?re saying there is problems with cocoa prices going up, and that is causing hershey heading towards its worst day in two months. you can see this in the gtv falling allres cocoa prices are skyrocketing. this has to do with whether hershey, andrting consistently going down. david: what could this due to the margins? >> analysts are saying this can compress in the second half the 2019 as prices continue to rise. hershey earlier said they are working on working with sustainable cocoa for hershey kisses, but that could take a while for the initiative to see results that could help their own cocoa supply. i'm now this increase is a huge issue for them. david: katie, thank you so much for being here today. president xi of china gave a speech saying his country wanted to avoid the cold war and make reforms of his income and move towards an open market and stronger protection for intellectual property. how much we should read into his remarks, welcome the senior professor of trade policy at co

howard by more than 2700 journalists and analysts in more than 120 countries, i am kailey leinz.ust after 5:30 p.m. in new york. i am joined by paul allen with a look at the markets. paul: u.s. stocks ending on a down note. about .8%. pharmacy stocks in the main weighing there. the nasdaq weaker by .7 5%. apple reporting later on today and will have a iphone x sales. a lot of markets closed in asia today. about one third of 1%. change, the u.s. dollar continues to strengthen, hitting for its best month since november of 2016. and the biggest monthly gain in seven years now on track for its highest close in 2014. oil strengthening above $68. in australia, watching out for the reserve bank's decision and expecting to stay on hold. paul allen in sydney, more from bloomberg technology, next. ♪ i'm emily chang and this technology." we are live at the milken institute global conference in beverly hills, california, where we have been speaking with some of the top newsmakers. the chinese are commerce giant would bring one million u.s. jobs. we found out what a trade war would do to that

i am kailey leinz. this is bloomberg.nt trump environment putin discussed holding a summit at the white house according to press secretary sarah huckabee sanders who confirmed kremlin reports. joining us now is kevin cirilli. time forn interesting a summit given the fact we kicked out a lot of their diplomats, and they kicked out a lot of our diplomats. what will they talk about? kevin: they could be talking about the arms race. public statements from president trump himself following the telephone call between vladimir putin and president trump on march 20. out a ziput congratulatory call from president trump on behalf of community 10 winning reelection. was said at the time that the arms race might be something that they talk about in the future, but he didn't specify where that would be. there has been some developments in u.s.-russia relationships since that call, the treasury department joining nato allies overseas and sectioning russia for that chemical attack against a former agent. the administration sectioning mo

shery: thank you so much, kailey leinz with the stock of the hour.he rhetoric from the trump administration depressing tourism to the u.s.? we explore that question next. this is bloomberg. ♪ david: this is bloomberg markets: balance of power. i'm david westin. shery: and i'm shery ahn. we are seeing a lot of trade tensions right now between the u.s. and china. is the trump administration's tough rhetoric weighing on some people, choosing whether or not to come to the u.s. for holidays? kevin cirilli sat down with an -- someone to ask about his outlook. kevin? earlier, i spoke to the president and ceo of the u.s. travel association. they represent all entities of the travel arm, a two point $1 trillion annual industry in the united states. we talked about how the trump administration is in pointing -- an impact in a variety of facets of the travel industry, including the boeing-airbus ongoing battle, as well as how the rhetoric in the white house is impacting folks' tourism plans. >> the rest of the world is of about 4%, and -- up about 4%, and we ar

i'm kailey leinz. ♪ -- vonnie: it is 1:00 a.m. in hong kong. shery: i'm shery ahn.elcome to "bloomberg markets. vonnie: from bloomberg world headquarters in new york, here are the top stories that we are following. another big week for earnings and for economic news. u.s. stocks fluctuating while inflation hits the feds 2% target. netanyahu speaks. the israeli prime minister expected to announce "significant development" regarding the iranian nuclear pact this hour. a bad connection? shares are dropping on concerns deal withroposed t-mobile. we hear from t-mobile ceo john ledger. all of that and more coming appeared first, let's get a check of the markets. abigail doolittle is with us. it looks like we are fluctuating. abigail: you are right. a different picture from what we have had. we have had a mixed trading picture. only the dow higher. both the s&p 500 and the nasdaq lower coming near session lows. take a look at the philadelphia semiconductor index. down almost 1%. really a reversal considering the major averages earlier had .5%.up more than the dow and s&p 5

i am kailey leinz. this is bloomberg.he stock market not the second quarter with steep losses as continued weakness in popular tech stocks start selling on wall street. let's look at what drove losses. mike reagan is with us now. action, terms of price we're talking about session performance and if we will see with this in the close, and we saw the opposite here, we set a pickup and bounce off the lows. how important is that? mike: i don't know if it is super important but it is better than going the other way. [laughter] have --another week" julia: and light of the 200 day moving average. when that trendline rolls over and you get trapped under 200 day,y rising however faith you put, people look at today and say it is easter monday and a weird day. don't take out too much. joe: a lot of talk about tech stocks. is it important to zoom out and look at the big picture that is that they had an incredible rally or you pay attention to the tweets and scandals? mike: i think tech is still fundamentally where the most reliable a

kailey leinz is up with more. [laughter] >> it is not a laughing matter but is the worst performer.can hop onto the terminal and look at this. boeing as these trade conversations have gone on have been pled and down. today we are getting more firm threat with china's position of 25% tariffs on american aircrafts. when you get into the nuances, the weight of their single aisle 737 -- they don't want to be hit in that segment of their business. these companies have revenues in single digits with china. white is blowing experiencing such a decline here? -- why is blowing experiencing such a decline? >> you can see on this chart it is growing, does is a market that has seen consistent revenue growth and they what that could down. china is an important early market for all airliners. it is supposed to surpass the u.s. by 2022, and that is in the near term and boeing does it risk in that area. vonnie: why your next iphone will be radically different. we get the scoop from san francisco. this is bloomberg. ♪ vonnie: apple is looking to differentiate parts in the crowded smartphone market w