for that, we go to new york with kailey leinz. : president trump has a warning for canada on cut -- canada and congress on trade. he says if there is not a fair deal after years of abuse, canada will be out of the north american free trade agreement. he says congress should not interfere or he will just terminate the current agreement. dusk or reuters journalists have been sentenced to seven years in -- on, accused of violating writer says there is compelling evidence the two were set up by police. benjamin that in yahoo! says they will not be any cease-fire deal with the gaza strip leaders until the remains of two israeli soldiers are returned. talks are underway. a cease-fire would lead to lifting the decades long israeli blockade of the territory. global news, 24 hours a day, on air and at tick toc on twitter, powered by over 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. nejra: thank you so much. the turkish lira has paired the slide. speculation that policymakers will raise rates

here's kailey leinz.esident trump is -- keleigh: president trump is threatening to terminate nafta over what he calls a decades of abuse. the he said there is no incentive to keep canada in any version of nafta. nafta. trade talks between the u.s. and canada stalled hours before a deadline. president trump is raising doubts about the u.s. reliability as a counterweight in china. the president is skipping major summits in asia. givenec summit would have him an opportunity to meet with the president xi jinping. vice president mike pence will go in his place. in the u.k., prime minister theresa may and opposition leader jeremy corbyn are under fire as parliament returns to work. issaid the brexit deal almost worse than staying in the e.u.. the chief negotiator said he strictly opposes it. jeremy corbyn has been hounded by accusations he is anti-semitic. benjamin netanyahu says there will not be any cease-fire deal with the gaza strip leaders. until the remains of soldiers are returned. a cease-fire would lea

i am kailey leinz. this is bloomberg. julie?speaking out against union strikes in germany that have forced them to cancel more than 100 flights this week. he talked about a push for active shareholders to push changes in the board of directors. >> we are confident there would be huge majorities in favor, these toxic company's do this every year with a high profile -- likely to be hijacked by union demonstration. i do not think it is appropriate or fair to our show -- shareholders. they want to ask the board questions, they do not want it hijacked by been awaiting people. -- been awaiting people. people.r waving . we have one of the most -- -- it is an arbitrary figure. in some cases, 10 years is too much for some nonexecutive directors. in other cases, you should hang on to the better one for 20 years because they make a contribution. --carry 100 some of those advising -- what you make? >> they will all vote against my reelection. >> no more? >> these you wait for the proxy firms to make cheap publicity for themselves is to reco

kailey leinz is here with first word news. good morning. kailey: good morning. florence has just made landfall. the category one storm is expected to bring a title search of up to 11 feet in some places in north carolina. hundreds of thousands have evacuated. tighten of theul year is threatening asia. it is slamming into the philippines market it has prompted officials -- tomorrow. it has prompted officials to evacuate areas. on sunday.hong kong boston, explosions damaged homes in lawrence and north andover massachusetts. last spring, the utility asked for a rate hike to replace aging infrastructure. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am kailey leinz. this is bloomberg. david: thank you. coming up, therefore site leading to the financial crisis helped them make a fortune. the bull market is not treating them so well these days. we are talking about how crisis winners are becoming losers. this is bloomberg. ♪ bloomberg. ♪ kailey: this is bloomberg daybreak. i'

let's get "first word news with kailey leinz. president istina's taking steps to fix a devastating financial crisis. he is imposing taxes on exporters to raise revenue and cut the government ministry in half. argentina plans to bounce its budget next year. the government meets with the imf tomorrow to speed up payment on the $50 billion credit line. in turkey, the central bank giving its tools to fight for inflation. it is promising to reshape monetary policy at next week's meeting. tickets consumer prices rose at 17.9% in august, the highest rate in 15 years. the week lira is getting the blame. president trump began labor day by blasting atop labor leader. the president tweeted that afl-cio chief represented the union poorly. it is easy to see why you mince are going poorly. president trump -- they told president -- fox news president trump has done more to hurt them and help them. it is reported that mark carney is still expected to leave next year. prime minister may thinks he has done a good job. the bbc reports mark carney i

kailey leinz is here.here are hints of optimism for a nafta deal including canada as the latest deadline approaches. robert lighthizer and the canadian foreign minister met twice yesterday, and have another meeting today. a trade deal is probably within meeting a deadline that will allow it to be signed by mexico's outgoing president. the trade war with the u.s. escalates. beijing plans to cut average tariff rates from majority of trading partners as soon as next month. china is raising duties on american goods to retaliate. it is a symbolic win over iran for the trump administration. the u.s. has persuaded volkswagen to comply with sanctions on iran. that undercuts european union efforts to keep the 2015 nuclear deal a live. a lawyer for the woman who accuses brett kavanaugh of sexual republican, says that of sexual assault -- of sexual assault, says that republican lawmakers are treating her unfairly. , 24 hours a day on air and at tictoc on twitter. i'm kailey leinz, this is bloomberg.. vonnie: thank yo

i'm kailey leinz, this is bloomberg. thank you. lower missing sales estimates and margins continue to narrow in the second quarter. i spoke on air with the cfo about the results and much more. clearly wall street had a higher expectation then we posted for the quarter. we talked in june when we announced first-quarter results that we had invested in price late in the first quarter and that headwind would carry on into the second, as well is the process we announced in march as part of our initiative, which recall space optimization. we going in a touching 600 stores this year and redesigning how they are laid out and reconfiguring how they are laid out to make it a better shopping experience for the customer. that is the result. stores, that's many your moving refrigeration and shelving in many cases, it is not a great shopping experience and it hurts sales for a while and then a comeback. we have been thrilled with the stores, yourresults. we has seen -- we have seen, the customer is clearly liked what we have done. it is through

i am kailey leinz. this is bloomberg. vonnie: thank you. 500e: i will take it, s&p trying to struggle to stay positive. looking to potentially close the week on a record note. to 3000.uel the rally our next guest is supporting that advance. all this as we approach the 10 year anniversary of the financial crisis. chief u.s.is our equity strategist. looking at this chart, momentum, it feels like it as stalled. row intoays in a today. >> probably a new advance this week. we were due for a breather which we got last week. if you look at the late august highs in the s&p 500, despite the fact they were under incredibly skeptical conditions, nobody believed them because supposedly everybody was on vacation and alley lot of trading volume. nonetheless, accompanied by new highs on rsi, and as well the number of stocks trading above the 208 average made a new post crash high along with the new highs. from a technical perspective -- vonnie: a ship from equity etf to bond etf was notable -- shift out broadly, a of equities into bonds

i'm kailey leinz. this is bloomberg. up, we will break on the latest housing data with the ceo of the national association of home builders, gerald howard. from new york, this is bloomberg. ♪ vonnie: from new york, i'm vonnie quinn. julie: i'm julie hyman. checking 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 ha

i'm kailey leinz. this is bloomberg. vonnie: thank you.g up, government and business have a big task ahead regarding hurricane florence recovery. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. julie: i'm julie hyman. this is "bloomberg markets." vonnie: hurricane florence has caused a dozen deaths and the damage could be $20 billion. the full extent will not be known until floodwaters recede. taylor riggs is in raleigh at the command center of duke energy, one of the largest utilities in the south. give us an update. taylor: it is interesting to wear in raleigh, even though we are not necessarily flooded because we are at the duke in the stormarters operations. they provide most of the power to the neighboring regions and the carolinas. we just got an update last night when we spoke with the north carolina president of duke energy. he said one quarter of their customers had lost power, 1.4 million customers. they have restore power to one money people. that leaves over 300,000 customers without power. the floodwaters ar

i'm kailey leinz, this is bloomberg. romaine: thank you. breaking news.ent of justice curbing the wells fargo wholesale banking unit, telling us that wells fargo shares are taking lower on the news. down 1% now. this is bloomberg. ♪ ♪ vonnie: the department of justice investigating wells fargo wholesale banking unit, according to dow jones. wells fargo shares down, bouncing off the low when the news came out. the department of justice investigating wells fargo wholesale banking unit, we will monitor for headlines. romaine: president trump demanding that the new york times reveal the name of the senior staffer who wrote the anonymous blockbuster op ed in the paper. the official says key members of the administration are working against the president. we're joined by tim o'brien, the bloomberg opinion executive editor. what do you make of this? this is the first time we have ever seen something like this. reporter: there are two categories of commentary. some people have said it is a coup. i think that is extreme. others have said it is normal. it happens a

kailey leinz is here with more. is that really a buying opportunity? >> it is. has been a pretty bad one this year. you had the founder ousted because of sexual harassment in february. also declining revenue growth. consistently the past four quarters a drop in revenue in large part because of their exposure to macau. it represents about 70% of the company's revenue. it's because of gaming revenue. vegas forno in las example, it's all about hotel rooms. people go there for kind of like a vacation. the not just about gambling. in macau it is. huge fears about a decline in gambling because of fears of china tariffs for example. consumers pulling back on that kind of activity. also concerns about the pboc and the cowher -- macau having shared information. analysts saying this is really a buying opportunity. the selloff is overdone. macau is still seeing the strongest growth out of any of these regions in the sector. they are saying get in now. they see 20% to 30% upside vip theye happy -- think are going to start to grow in the coming months. potentialat other down

wednesday on the fed meeting day. .hank you, let's check in that on bloomberg first word news with kailey leinz. kailey: the leaders of north and south korea wrapped up their summit by announcing the next steps toward getting rid of the north's nuclear weapons. the north korean leader has agreed to shut down the missile testing facility and close nuclear facilities depending on u.s. action, falling short of what the u.s. had demanded. still, president trump praised him in a midnight tweet. be devaluing its currency to make exports cheaper in the midst of a trade war with the u.s. one way devaluation would do more harm than good to china's economy. we spoke after they retaliated by the latest increase in tariff s by the trump administration on both sides have threatened to start new tariffs starting next week.new home construction in the u.s. rose to a three-month high in august.residential starts were up more than 9% to an annualized rate of less than 1.3 million. the permits sold by the most in one .5 years, adding to signs homebuilding is struggling to stabilize. there is a report that britis

kailey leinz is here.awyer president trump's says the team is in active discussions with robert mueller's staff. rudy giuliani says discussions are down to a couple key points regarding a presidential interview. vice president mike pence says he was not the author of that anonymous op-ed in the new york times. so have mike pompeo and encodes. -- dan coates. the president question whether the author exists. he demanded the newspaper unmask the writer as a matter of national security. first time filing for unemployment benefits falling to their lowest level in almost half a century. 10,000 to 203,000, they have not been that low since 1969. the government releases the august job report tomorrow. multiple reports that the justice department will announce charges in the massive hack of sony in 2014. it involved releases of executive salaries and took place at a time when north korea was angry about a movie which concerned the assassination of kim jong-un. global news 24 hours a day on air and @tictoc on twitte

we turn to kailey leinz with the "first word news." : president trump has ramped up his trade war with china. the u.s. will impose a 10% tariff on $200 billion in chinese goods next week and will more than double that rate next year. president trump says china has been unwilling to give fair and reciprocal treatment to american companies. it will be high drama on capitol hill. an exclusive public showdown with a supra -- with a seat on the supreme court at stake. greg kavanaugh and the woman who accuses him of a decades-old sexual assault will testify next week before a senate committee. the hearing has delayed the republican plans to vote on the nomination. saudi arabia is now comfortable with brent oil prices rising above $80 per barrel. largest -- the world ticket largest exporter has tried to keep oil below $80 in part because president trump called for opec to rein in price hikes. global news, 24 hours a day, on air and at tick toc on twitter, powered by over 2700 journalists and analysts in more than 120 countries. this is bloombe

kaylee: i'm kailey leinz. chicago mayor rahm emanuel won't seek another term.id being mayor has been the job of a lifetime, but it's not a job for a lifetime. he is president obama's former chief of staff and has been in the office for more than seven years. bank of england governor mark carney indicated he is willing to extend his tenure to reduce your test to ensure a smooth brexit. the announcement will be made in due course. his term expires next june. top officials of the u.n. palestinian aid agency says countries including qatar, saudi arabia, and india have stepped up donations in recent months. the nations have provided more than $203 million next to funding after the u.s. announced plans to slash its contribution to $600 million -- from $600 million to $60 million. and in libya, more than 50 people including civilians have died during the week of fighting between armed groups in the capital city of tripoli. -- the u.n. isds voicing concerns about the fate of the migrants and more than 130 others have been wounded. global news, 24 hours a day, on-air, o

kailey leinz is more -- has more. chart to show you, since they began trading in july or have been 29 days in the green and 16 of those days have been a gain greater than 15%. it is now larger than clorox and is catching up to hershey. in the largest 3000 companies in america, it was sitting around 1300 and now it is around 300. yesterday, the company gained about 29% after it got de a approval to import its medical marijuana into california for criminal -- clinical trials. we also had kennedy saying they believe the company will reach a $100 billion valuation because of the growth opportunities in the market. in the cannabis market it was about $9.7 billion of spending last year and experts think that could quadruple. of $21orth valuations billion, $100 billion, if this is what it looks like down the road? such on research saying there is research- citron saying there is nothing to corroborate these numbers. vonnie: i had a question but i forgot let's check on how u.s. majors are doing. the dow jones industrial avera

i'm kailey leinz. this is bloomberg. david: thank you. just told us, rains subsided, but river flood he has yet to crest, leaving whole communities underwater in north carolina. taylor riggs is in raleigh and has a report. what does it look like? taylor: we are here in the storm center operations at duke energy headquarters, and it is very interesting, the floods are expected to get worse. two weeks from now, as you know north carolina uniquely positioned with three rivers from the coast, and the flooding is really bad one hour inland. we are in downtown and there has not been much flooding here, but we are here because we wanted to speak with the north carolina president of duke energy, talking to us about the updates on recovery. they have about a quarter of their customers without power. that was at one point, but one million have been restored. now, more than 3000 without power. we got an update from him yesterday. >> it is nonhazardous. so we believe most of the material was contained on-site and we certainly have our confidence that

vonnie: let's check in on the "first word news" with kailey leinz.h to theence's east coast has changed to the southeast. it will make landfall tomorrow night or early friday near myrtle beach, south carolina. even if it loses intensity, it is likely to have top winds of 120 miles per hour. the carolinas are expected to get up to 30 inches of rain. american trade associations are joining forces in a campaign to oppose president trump's tariffs. farmers, represents and you factories and retailers. the coalition plans to highlight the stories of farmers, businesses and consumers in the heartland that have been hurt by the trade war. bloomberg has learned the ecb's prediction for output has been cut slightly starting this year. u.k. and turkey are among the nations dragging on demand. the ecb president -- president will unveil the projections tomorrow. turkish president erdogan has gotten rid of the management team running the sovereign wealth fund. the new president is -- the new chairman is president erdogan. global news, 24 hours a day, on air and at

. >> i'm kailey leinz, let's get to first word news.n kyl will fill the senator seat left in the doubt -- with the death of john mccain. 2020 -- affect a run in he is not expected to run in 2020. he spent 20 years representing the sea before becoming an attorney and lobbyist. abiola repping for senate confirmation of brett kavanaugh. chuck grassley refused to the democrats demand to adjourn the meeting, democrats wanted more time to review the documents they received over kavanaugh last night. the judge in paul manafort in a trial has not decided to question the jury. the former trump campaign chairman is accused of acting as a foreign agent on behalf of ukrainian interests. convicted on eight counts of tax and bank fraud last month. africa's most industrialized nation has entered its first

i'm kailey leinz. this is bloomberg. vonnie: thank you.n may face months of political gridlock after an inconclusive election result as in none of the parties actually won enough support to form a majority.a nationalist group won just less than a fifth of the votes. we are joined by the director general of the confederation of swedish enterprise in sweden. thank you for joining. result?ou receive this it is conclusive in that we know there will have to be some kind of rainbow coalition. very surprising results actually. it has been going in this direction for quite some time. it was a surprise how close it is and we will not know who has the majority from the two traditional blocks in politics until wednesday. but it was going to be a bit of a gridlock and there will be a difficult time pulling together a government that can function. you represent very many businesses in sweden. what would be the best outcome for swedish business? governmentually a who is capable of putting in place some of the big reforms we need. we have had the last ei

i'm kailey leinz. this is bloomberg. vonnie: thank you. julie: life after lehman.are taking a look at how companies have weathered the after theears financial crisis. the ceo of atlas merchant capital and former ceo of barclays weighing in on how central banks can prepare for another like it. he spoke to bloomberg earlier. >> easter in 2008, bear stearns was filled out or required by jpmorgan. we were thinking about what can be the next shoe to fall. of course fannie and freddie and aig and so many things happen. i don't think anyone in the world was prepared to devastation that hit the morning after the bankruptcy of lehman brothers and the chaos in the markets. >> because people didn't understand the interconnectedness of what banks were lending to each other. do we now fully understand? i think it's absolutely correct that we didn't understand completely the interconnectedness. i think there's a much better understanding today. to say we understand all the complexity of the interconnectedness would probably be a bit optimistic. --at the time we sit have should h

let's figure out what is going on in the markets, with kailey leinz. we are in the green today, markets and a holding pattern ahead of the federal reserve decision. time,t about two hours this is all but priced into the market. but investors will be playing close attention to whatever jerome powell says about the path going forward. winding down on the day is the homebuilding index, this 2% loss today adding to a strained out 70% on the month, and we look at some of the individual movers in that sector. haley homes reversing earlier games, wind become sales data this morning -- and weak home sales data this morning causing that fall. economists are noting a downward trend, even the fed noticing the downside risk. that is dragging toll brothers and pulte homes down as well. in the gte library, this is showing what the downward trend has done to these companies' valuations. this is now sitting at the worst in a year, but i more positive story today is biotech. the nasdaq while index, biotech index up on the day. alexi and pharmaceuticals up almost 5%. ac