vonnie: kevin cirilli, thank you for all of that analysis.s we heard from the president in unscheduled remarks following a meeting with jeff sessions and christopher wray, saying no matter the color of our skin, we all live under the same laws. he did say that racism is evil and those that cause violence in its name are repugnant, including the kkk, neo-nazis, white super assists. coversring in nick, who the state department, as president trump moves on to presumably speak on china at some point later on, signing an executive memorandum directing the u.s. trade representative's to look into practices, but he is a lighter approach to china these days. he needs china. issues such as the one he just spoke about only make him look weaker to china. k: i think you see the delicate balance the white house is trying to maintain when it comes to china. donald trump campaigned on how the u.s. was treated unfairly by china, has a massive trade deficit with china, but now when it comes to reining in north program, theyr have made clear that all roads to

kevin cirilli, bloomberg's chief washington correspondent. kennedy, kievin? -- can he, kevin?: he is trying to turn the page. that's kevin: he is trying to turn the page. he later be communications record just days after it was announced that scaramucci has been brought into the administration. he was working behind the scenes to alleviate concerns from attorney general jeff sessions that he would be on the outs of the administration from what we've seen from president trump ; twitter accounts, and wish he had attacked the attorney general in recent days. it also came from kellyanne conway and press secretary sarah huckabee sanders. many on capitol hill are very uneasy at the statements coming out of the white house regarding attorney general jeff sessions, and quite frankly, they are a bit more refreshed, so to speak, that general kelly had eased their concerns and urging the white house to back off criticisms of the attorney general. vonnie: someone is trying to take stability. at some point, legislation will need to get done if the president wants to move his agenda forward

kevin cirilli will join us on north korea, south korea.l join us, the perfect economists to speak with us on fixed income dynamics as they relate to the greater economy. coming up next. this is bloomberg. ♪ ♪ this friday morning, a weighing of the four options, the consequences of the status quo, tougher sanctions, diplomatic talks or unthinkable lore with north korea. the president goes on and on in a short press conference. the markets react to the president, the vix explodes from 12 to 17, the yen ever stronger at 109. lower rates for longer, 10 years on with financial repression, it continues. this "surveillance," live from our world headquarters in new york. francine lacqua in london. korea front and center. francine: that is giving a lot of impetus to the market to sell off. i am looking at havens, oil, gold, and yen. tom: a lot of dynamics. we will go to kevin cirilli in a moment. first, a briefing. trump is notdent backing off his threat of retaliation if north korea strikes the u.s. or its allies. he warned them not to carry out a

. -- they are discussing how and when to do it could let's bring in kevin cirilli.dly a surprise, but we are waiting for an official return from chief of staff john kelly . hasn: president trump reported told aides that he has decided to push out steve bannon. i've been talking to sources all afternoon about this. they have been anticipating that steve bannon is under review for quite some time as well as republican conservative political strategists. several said quite likely that steve bannon was brought in to usher in some of the conservative base that was with them candidate donald trump on the campaign trail. the president ultimately decided yet not done that. we take a broader look at what steve bannon has come to represent within the white house especially in the lens after the charlottesville response that this is someone who is seen largely to have a direct line of communication with the base of the conservative party. therealso tell you that about hisncern ability to connect with the base of the republican party. that could pose some political .rouble for

vonnie: kevin cirilli, thank you.ead, the manifesto that has created an uproar in silicon valley -- still ahead, the manifesto that has created an uproar in silicon valley. this is bloomberg. ♪ vonnie: live from london and new york, i am vonnie quinn. mark: and i am mark barton. at a male engineer who is at the center of an uproar in silicon valley. memoote an internal asserting biological causes in in the techias industry. he claims the distribution of preferences and abilities of men and women differ in part due to biological causes. these differences may explain why we don't see equal representation of women in tech and leadership. may well, conservative commentators to the firing is censorship. this.l continue exploring after the uproar, the job was lost, wasn't it? out --as andy memo came it was and a memo came out. it was basically -- violates our code of conduct and enforces harmful stereotypes. that is the reason he lost his job. i want to point out some of the other elements. he says yes there are different t

joining us is kevin cirilli who is at the white house and bloomberg's washington executive editor. vin, let's begin with you. am i right saying this is the first primetime address that president donald trump is set to give? twitter on the back burner for now? what version do we get? kevin: that is what everybody wants to know. whether or not this president is going to be more like steve bannon or the more moderate general kelly. this is the president's first major address since his return back to washington, d.c. following his stay at camp david. then head to will arizona where he is set to deliver a campaign rally of sorts tomorrow in phoenix, arizona. what we have seen it, dedicated to the exit stage left of steve dan and here. to what extent will that be a positive thing for this white house? and to what extent the damage he can do outside of the white are we giving too much weight to both of these issues? >> steve bannon is a powerful intellectual force inside the white house. we know he had donald trump's ear on key issues like on how tough to be on the border, handling tax ref

there is our kevin cirilli. resigned following the fallout from president donald trump's response to charlottesville. yesterday the president announced the kkk as well as neo-nazi groups and other hate groups, and he announced that the department of justice would be investigating this. by just overnight, three more executives of intel, mark, and joining mr. fraser in resigning from the president's ceo manufacturing council board. all of this of course as -- faces intense pressure not just from the business community, but also from politicians as well. clearly it is going to be quite the day for when president trump arrives that he is here at trump tower, but when he hosts a series of meetings, the first time he will be here since he has been sworn into office, clearly, he has shut down traffic so to speak. a busy day here in midtown. tom: thank you so much, kevin cirilli. it is a wonderful time of the month. gideon rose has been very kind month after month to join us magazine affairs" geared this is the single b

joining us is kevin cirilli our chief washington correspondent. re eager to get the president here because it will help our traffic situation a lot. when is he going to sign this document? kevin: after finally condemning white supremacists, neo-nazis, is expected to sign a memorandum this afternoon. he will be requiring the ustr representative to represent whether or not china is still illegally requiring u.s. businesses to hand over intellectual property that u.s. businesses haply may do business with china. if that happens, the u.s. might be able to have new tariffs or wrangling with china. topa is north korea's economic partner. after that, the president will travel to ignor new york. brace yourself for traffic. he will be at trump tower tomorrow and tonight. he coming here? it is his home, in fairness, but why? atin: meetings tomorrow trump tower, in the middle of his august working vacation, as he calls it. it is ahead of wednesday when negotiations are expected to begin in washington across town. that will be top republicans in congress being

the latest from kevin cirilli in washington dc right now. contest -- consensus on how politicized harvey is becoming? kevin: not too much politics surrounding it right now. the president facing a lot of pressure to handle the situation which is really pummeled houston as well as the flooding's. an estimated 30,000 people need shelter and an additional 15 to 25 inches could fall. -- inches of rain could fall. the president and first lady are expected to travel to houston earlier this week as early as tomorrow we are being told. the president actually arriving from camp david back to washington last night. this morning we are expected to hear from president trump later this afternoon at a press conference where he will no doubt faced questions about the impact of tropical storm harvey, but also about the hurricane -- paio andon of joe ar transgender military ban. mark: a big sale president trump. he will try to get americans fired up about rewriting the tax code. a lot of questions with the tax code remain and a lot of the questions are main un

kevin cirilli, thank you for that.t more we can expect from lawmakers let's bring in the former senator from montana and former ambassador to china maxwell group. max x bulger -- volker. >> tax reform is very difficult because there are so many pieces. both parties worked together. presidentn each invested a lot of capital. you are a member of a joint committee on deficit reduction. things have changed over that time. there isn't even agreement in the republican party. how can there possibly be a bipartisan agreement? >> it bothers me that the republican negotiations have been in secret. the devil is in the details. we have to see what is proposed. i can't emphasize too much of the importance of it a bipartisan. if it's not bipartisan it's not going to work. that's the question. where is the money. in order to cut rates. we are talking about eliminating the interest reduction. very upsetng to be with that. the third place to find the revenue is questionable growth estimates and it's going to be tough. vonnie: can you p

we have our chief washington correspondent kevin cirilli standing outside trump tower. th me in the studio, cory johnson. kevin, you have to give us a roundup of what happened in this press conference. president trump very defiant and very hesitant, to lay blame essentially. reporter: president donald trump defiant against criticism for his response to the charlottesville tragedy over the weekend. he says there are faults on both sides here and i can tell you that already a crowd of protesters had gathered about a block away from where i'm standing outside of trump tower. president trump taking on the media as well as others for what has gone on and what he feels is unfair treatment. he criticized heavily and defended heavily his very own position following the charlottesville tragedy. it comes as he is facing intense criticism from ceos and also from republicans within his own party. this is supposed to be a press conference of sorts or a public commenting period to announce a second round of infrastructure executive order. all of that is now thrown out the window with

tom: i know kevin cirilli and martin will join us later.est is we take a waitred path on this as we on the news flow of this thursday. francine: first, let's get straight to the bloomberg first word news. taylor: in south korea, the president is trying to ease concerns over potential war. that kim jong un is approaching a redline. trump is disbanding his manufacturing counsel and his strategy in policy forum. ceo's were dropping off the panel to protest the violent white supremacist rally. trump said he was getting rid of them to not put pressure on business leaders. federal reserve leaders are wondering if their cornerstone policies regarding inflation are working. of feda majority policymakers want more interest rate hikes. for the second month in a row, japan has posted a trade surplus. imports rose, a sign that domestic demand is recovering. japan's trade surplus was a better-than-expected $3.8 billion. global news 24 hours per day. i'm taylor riggs, this is bloomberg. tom: thanks so much. a jumble today. am august jumble off the minute

kevin cirilli joins me now from capitol hill. vin, let me ask you first of all here, what is the thinking on the white house is part when it comes to this legislation? we saw the white house on the fence as to whether president trump was going to sign it for a while. how has he come around to this legislation? kevin: they have said they are going to sign this russia, iran, north korea sanctions bill. it passed nearly unanimously out of the senate and the got to the house. the white house is working with house leadership to tweak versions of this bill from their perspective that would not hurt u.s. businesses. now the russia companies that were named on this sanctions list, if the u.s. has some type of business arrangement with some of those businesses or do deals with them up to a one third threshold, they will be able to continue. m putin has already responded to this and he has kicked out essentially two thirds of u.s. diplomats who are in russia to get out as a response to the republican-controlled congress doing this piece of

kevin cirilli, thank you for joining us.tching the presidential motorcade drive away from air force one. the president will be meeting with some officials in that area of texas including governor brown and senators cruise and cornyn will be there as well. includes melania trump and linda mcmahon. carson. he will move on later in the day to austin and he will return on saturday to a different part of texas. geopolitical tensionshe will moy to austin back in focus after north korea launched a ballistic missile that flew over japan and landed in the pacific ocean. the prime minister shinzo abe says he has agreed to increase pressure on north korea. trump issued a statement this morning thing threatening and destabilizing actions only increase the north korean regime's isolation in the region and among all nations of the world all options are on the table. in bloomberg's national security editor. this action on the part of north korea. does it mean the president's rhetoric hasn't worked? it is definitely a new test president is

vonnie: kevin cirilli, thank you for that. not just lawmakers getting impatient with the president's rhetoric. markets removing their optimism. our next guest says this raises there is risk assets in general. we will get back to what that means. a cute macro strategist -- he was the number one u.s. bonds strategist by institutional investor magazine for 10 years and wrote about this in the last day or two for bloomberg profits which you can access under bloomberg view. explain your position, david. david: i have been watching and waiting for the antics and the semantics, and all the tensions in washington to have an impact on risk assets. i am a bond strategist and that tends to be bullish for the bond market. i have not been right on it. i have been patient. the events of last week, in particular, indicated the market, particularly the risk market, has lost patience. the rhetoric. we had good news last week for risk assets and the stock market still traded down. we have rates that inflection point. death reached that inflecti

thank you for joining us, kevin cirilli. a vc a good time to be startup in america.er for private tech firms in the u.s. has hit a record high, up 44% from a year ago. a new study is sounding the alarm about a certain set of startups. unicorns are startups worth $1 million or more. the study says the average unit form -- unicorn is overvalued by 50%. joining us is one of the authors from stanford university's school of business. great piece of academic work. talk about unicorns that are overvalued. when i questioned uber's valuation of $70 billion, am i wrong? overvaluedorns are compared to the reference points everybody uses. the reason is easy to explain. when people use public companies as reference point, public companies typically have only one kind of shares, common shares. unicorns have only one class of shares. uber has 12 classes of shares. billion, raised $70 for 12 classes of shares -- the 12 classes of shares' investors got additional rights compared to everybody else including common shares. theuation people use -- valuation people use assumes every shar

david: kevin cirilli, great to speak with you.arty schenker, our executive -- senior executive editor that editor on international foreign governments -- editor on international foreign governments. stock at a all-time high and president trump was quick to comment on it. is not market hit a all-time record high, over 22,000. we picked up substantially, more than $4 trillion in net worth, in terms of our country stocks, our companies. , a gdp a growth rate which has been much higher than anybody anticipated except us. it is going to go higher. we are doing a job. david: the president reacting to dow 22,000. julie hyman is here. julie: the dow hit a new record, but the stock market so to speak did not, at least not if you look at broader measures and more accurate measures of the stock market. the dow is seen by some as flawed. is it -- it is a price weighted average and viewed as a proxy for the old economy although it does include stocks like apple. the s&p and the nasdaq are not rising. they are near records, but they have not ob

mark: that was senator marco rubio with kevin cirilli. this is bloomberg. ♪ is this a phone?little internet machine? [ phone ringing ] hi mom. it makes you wonder... shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. [ laughing ] so all you pay for is data. see how much you can save. choose by the gig or unlimited. call or go to xfinitymobile.com introducing xfinity mobile. a new kind of network designed to save you money. vonnie: live from bloomberg world headquarters in new york city, i'm vonnie quinn and this is number markets. let's get to some "first word news." mark: the trump administration is beginning to be -- is planning to begin a wide investigation into china trade practices. it will focus on china's alleged violation of intellectual property. a former u.s. ambassador to china spoke to bloomberg about the relationship between washington and beijing. you have to show strength. the chinese respect strength more than any other people. mark: relati

vonnie: are thanks to kevin cirilli -- our thanks to kevin cirilli and josh green in the studio, columnistor bloomberg businessweek. let's check in on the bloomberg first word news. here is emma chandra. ,: the u.s. navy has ordered a wide ranging investigation after the second fatal collision in two months. 10 american sailors and five are missing after the uss john s mccain collided with an oil tanker. the mccain has now docked in singapore with significant damage. at least one woman was killed after a van rammed into to bus stops. another person was injured. police have arrested one man. authorities have not ruled out terrorism, but the suspect is being treated for psychological problems. a warning from south korea's president as his country begins the latest round of wargames with the u.s.. he says that the north korea should not use the drills as an excuse for further provocation. during last year's exercises, north korea launched a missile from a submarine. the u.k. is making it clear it will take a confident stance when brexit talks with the european union return next week. it is st

joining me is kevin cirilli, our chief washington correspondent. now about this trip that was announced today, what we know about the motivation for that one day trip? kevin: president trump is anticipated to return to washington dc on monday, taking a break from his working vacation and then he will head back to new york city on wednesday -- on wednesday the nafta negotiation is set to begin here. that was a great interview you had with representative brady. we are nearing the end of the august recess. we still have a little more time in recess, but the work next week will be a little easier than we saw this week. david: looming overall this is the tension with the u.s. and north korea. to what degree do you expect what happens next week in washington? kevin: i want to dip into my terminal now. i'm totally geeking out over this chart. when you look at this, you can see the stock dip right here on this red line where president trump said there was fire and fury that would be met with north korea. no generals were apparently aware that he was going t

kevin cirilli joins me now from capitol hill. kevin, let me ask you first of all here

dave: many thanks to kevin cirilli, bloomberg businessweek reporter margaret and josh green, this is week columnist will stay with us. a check on where markets stand. abigail doolittle is here with the latest. abigail: not a lot with the u.s. stocks, fractionally lower but one very small gains and losses during the entire session. this follows yesterday's rally. the s&p 500 up about 1%. nasdaq up more than 1% following last week selloff. a bit of tug-of-war, it is not clear what side is winning from a stock perspective. if we break at the 10 year yield, when the yield goes lower, that says the bonds are rallying. when the stocks were selling off, haven bond rallies. asked outs have a rebound, not fully, the 10 year yield round tripping saying bond investors are not as concerned as stock investors over the recent volatility. speaking of volatility, not a lot for bonds. this is from the beginning of the year. in a blue, the vix. we have this long period of complacency but the last week, a last thursday 44% as fear and uncertainty returned. in white, merrill lynch move index. based on o

let's bring in our chief washington correspondent kevin cirilli.al moment or will there be action? mostey thinking of republicans in washington is that there could potentially be some type of action once lawmakers return from congressional recess in september. make no mistake, bob corker is a top republican within the senate , someone who was vetted for the president vice presidential pick and on the short list. to hear from such a prominent republican, questioning the competence of the president in such emotional terms, is very , and could spell trouble for the president as he hopes to have -- if he hopes to have clout in washington once they return from research -- recess. , as is from tim scott republican from south carolina, who said "what we want to see from our president is clarity and moral authority. that moral authority is compromised when tuesday happened. no question about that" he said he would not defend the indefensible. from republicans, really reeling with the fallout from the president's response to charlottesville. all of their cr

we begin with our chief washington correspondent, kevin cirilli. what president is doing this morning. what is the president doing today after his disastrous weekend. kevin: according to the white house schedule released last president trump saying that there would be a press conference, the development over the past weekend have nearly sent a signal to the white house because there is no press conference on the president's daily guidance issued last night. this comes as he was criticized heavily for not strongly denouncing white supremacists and neo-nazis. i don't even know what year it is. tom: exactly. kevin: vice president mike pence actually denouncing them head-on last night, a sharper contrast from the president's own statements. the white house releasing a statement last night saying that the president did denounce white supremacy, but we have not heard this directly coming from the president himself. tom: nicely summarized. mike allen last night talked about general mcmaster and the use of alcohol, these are tawdry rumors. of the the posit

we bring in kevin cirilli.o, the president sat down with the secretary of state after that exchange with chris wallace yesterday. he has to meetings with the finnish president today. address thet him to thing going on in texas? we are definitely hearing from president trump this afternoon on his admin's rations effort to see and help what's in the horrific flooding going on in texas. the president will head to corpus christi tomorrow, where he will be on the ground seeing what exactly the damage from now tropical storm harvey has done to the area. from there, he will head to missouri, and is anticipated to provide new details involving his tax policy overall. the treasury department has been in constant contact, particularly within the republican party on capitol hill , even during this august recess. we are a little over a week from when lawmakers return to congress next week. they have to get through two things before they can get the tax reform -- first is raising the debt limit as well as patching of -- hav

david: that is kevin cirilli joining me from d.c. this afternoon. bloomberg news has been over -- all over the undulations and changes at uber. i want to go to brad stone. what can you tell us about ryan graves -- born in ohio. a big surfer. he is a senior vice president of global operations at uber. what can you tell us about him? brad stone: an important presence at uber. i would call them the spiritual founder of the company. he was the first leader when the founders did not know what uber was. they recruited him out of ge. travis came into the business. he was travis's right-hand man, and he ran the operations. he was part of those general managers that operate their business as entrepreneurs. over the last year, he did take a smaller role. he has been quite invisible during all the troubles at uber. he will remain on the board, but this is another blow for 75ryone's favorite troubled billion dollars startup. david: this unicorn looking a long putter how does this fit into the scandal you describe -- we had a report from the firm spearheaded by

let's go to kevin cirilli in washington. rco rubio's presidential campaign, he joins us on the phone. on theto start with you issue of going thermonuclear. kevin: it is likely steve bannon will be returning to breitbart and he will also have other roles. in the business community advising or consulting, he will likely play a role in the future of right part. it should be framed as globalist versus nationalist. it will be interesting to see what type of rhetoric steve dan or or what -- steve bannon an all-star operative is able to log against people like steven mnuchin. vice president mike pence was scheduled to speak tomorrow at a conservative gathering. he been replaced by commerce secretary wilbur ross. clearly after charlottesville, the response from the white house, what you're seeing now is intense pressure not just from outside the white house, not just the business community, not just republicans like senator bob corker, but large portions of the american public. lisa: i want to turn to you and get a sense for where th

kevin cirilli will be that.s us with commonwealth bank. , as well.mas charles, you have written an awful lot on trade flows. with your perspective on china and canada, do we need to fix nafta? charles dumas: yes, certainly. into the united states from mexico as we analyzed it is 40% u.s. content. there is no conceivable way that you will cut that off. few would be cutting off your nose to spite your face. -- you would be cutting off your nose to spite your face. the content rules and a saving face for mr. trump as i can see. anything in the litmus paper, i look at the canadian dollar is about oil commodities as maybe the spirit of canada, peso seems to be a barometer for what mr. trump will do with a wall. do you have knowledge about foreign-exchange folded into nafta? peter kinsella: we do not really. it will have to be on things how they go. the renegotiation of nafta, you think it will be a dollar positive and i will say maligned and development for the peso. the canadian dollar will be left unaffected. broad

let's bring in kevin cirilli from our washington correspondent, joining us outside trump tower.l us a little bit more about this executive order that the president's signing. it has to do with the infrastructure spending plan that he told us about overall, doesn't it? kevin: yes, the president will be joined by treasury secretary steven mnuchin as well as transportation secretary elaine chao in trump tower. we are waiting for president trump to sign this executive action. essentially what you would do is streamline the process for infrastructure projects in order to two get federal approval. say in the administration argues that these procedures take about five to six years in order to vet. what the president would do with this action is streamlined the process to get the projects of the ground more quickly. this has nothing to do with congress come it is not the economic stimulus plan. the administration has proposed $1 trillion plan. either way, the president trying to turn the page from the controversies that have dogged the administration with charlottesville and the ceos le

joining me now is the chief washington correspondent, kevin cirilli.hey say they do have a plan. kevin: they will be huddling in next week at the reagan library in california. the tax writers are. and they will be continuing through the august recess. they released the blueprint the other week but whether or not they will be able to have comprehensive tax reform, that remains to be seen. i think inside the beltway, they are anticipating the corporate tax cuts. it is a tall order but the treasury department is hopeful. david: it is ironic that they are getting together to commemorate the 1986 tax deal. that involves both republicans and democrats. are they open to that this time? kevin: it is unlikely that they will be able to get on board with any tax reform. too divisive, despite republican thing they want to work with democrats. the david: there was a big announcement over the weekend about sanctions with north korea. explain why that was important? kevin: because the of ministration was able to get russia and china on board with crippling sanctions

joining us is our chief washington correspondent, kevin cirilli.ngton might be largely left behind for the next four weeks, but there is a lot happening in the president is at pains to let everyone know he is working and he will be back to take meetings. >> a working book -- working vacation, so to speak. lawmakers will head to the reagan presidential library to honor the 1986 tax reform effort. behind the scenes, i spoke with a source over the weekend who are what extenders could likely get done as well as a tax cut, but the idea that there will be comprehensive tax reform, that is ambitious. sources at the treasury department are very optimistic, led by steven mnuchin, that they will be able to get that done. but putting domestic politics aside for a second on the geopolitical front with north korea. mark: it seems as if the relationship with china -- which was questionable a week ago might be improving. >> great point. over the weekend, the united states ambassador to the united nations, vicki hit -- nikki haley, announcing a vote -- crippling e

we are joined by kevin cirilli. reporting from hong kong is our colleague who leads our coverage of east asia. i want to talk about what the president is saying in new jersey yesterday. do we know whether general kelly said at this in advance? -- invented this in advance -- invented --that -- vetted this in advance? administration who say that with regard to military strategy the president is making good on his campaign prominence in the sense that he is not looking to broadcast or forecast what his military strategy would be and that is why you are seeing him embrace this level of unpredictability. yous very different to say are going to be unpredictable on the campaign trail versus what you do when you are in office. there is no question that all of the president's ability to deal with north korea goes directly through china. china's economic relationship with north korea in terms of trade is very much at the forefront and directly tied to this dictator's ability to get any type of nuclear ambition. that's why you

nejra: kevin cirilli, we will. thank you so much.oming up, oil is headed for its first gain in three days. futures in focus is next. we will talk route -- crude and gold, next. ♪ ♪ vonnie: line, from new york and from london, i'm vonnie quinn. nejra: and i'm nejra cehic. time for futures in focus. oil, 48 dollars per barrel on signs that u.s. stockpiles have extended their drop, while gold has been holding losses as the dollar declined over the fed minutes. joining us now from the cme, up.ver slo thank you for joining us. how much higher could we go on it aloneoliver -- alone? there could be a significant upside, but we are trading alone at the moment. 9.2 million with barrels, three times larger than what the eia is expecting. nonetheless, we have seen drawdowns in six of the last seven weeks and i think that could help markets press a little bit higher towards that $49 level. if you back away from the trades , you can see that we are in a longer-term downtrend that seems to be the path of least resistance. if we retest that level o

kevin cirilli joins us now with more on the growing tensions. this would have been an obvious solution for president trump while it hits nerves with conservatives. kevin: it is very hard to explain the president's tweets. i'm talking with sources before i came on, republican aides to congressional members who are scratching their heads. right now they realize the tension amongst republicans, especially between ultraconservatives who want to have spending cuts high to raising the debt limit. we talking about the freedom caucus, versus the more moderate wing of the republican party. senate majority leader mitch mcconnell and president trump have had an icy relationship to put it mildly. they are fairly on speaking terms. new york times reporting earlier this week they have not spoken in weeks. the majority leader's office pointing out the statement -- putting out a statement in response kind of refuting it. just last week i spoke with a senior aide to paul ryan. they have not been in communication with the white house either. vonnie: that is one ma

joining us is kevin cirilli, our chief washington correspondent.portunity for a reset, but will it be a reset? is that what the president wants? reporter: you know what, i'm not going to bet this is what the president wants. we have seen this time and time again, every time his back is against the law, he comes out swinging and bulldozing. this is the first time he will speak with core constituency supporters in the political battleground of arizona. you are member on the campaign trail went protesters was shut down highways and it was a very contentious battleground state, simply because this is ground zero of the immigration issue. while last night in the president's first primetime address, he spoke about national foreign policy, adding 4000 additional troops to the already 8600 troops in afghanistan. that was perhaps the first time he was speaking to the broader country since the criticism following charlottesville, but tonight, he's all about talking to the base. emily: you're looking at live pictures of the president meeting with marines. he

kevin cirilli tweeted he heard from a source that there are all democrats in the white house.nones that mean for now on the outside? means he is not going to feel as though he is inhibited in the same way he was as a west wing stafford. staffer. he made a good show from reframing of attacking any individuals he was butting heads with, but there is no secret he has been in open warfare with people like gary cohn and steven mnuchin. ther people in administration, especially in the foreign policy round, which had been such a source of contention within the west wing over the past few months. emily: if you are any -- are in any of these three groups he called out, should you be bracing yourself or will this be thanmarked -- more bark bite? beh: i don't think it will because he for a significant portion of the republican base. mostincludes trump's ardent supporters. the fear among republicans was that ban would leave and go outside and immediately begin attacking president trump, which would essentially set off a civil war within the party. that is not what he plans on doing. what

our chief washington correspondent kevin cirilli joins us from the d.c. bureau. on a review by chief of staff john kelly. apparently that is going to be negative for steve bannon. if that does indeed happen, would it be a surprise to anyone? kevin: no, i've spoken to three political republican consultants who are frequently worked with the white house. all them eagerly anticipating this. one told me that this will hopefully have a "clean slate for this white house. : " another said it will hopefully stop some of the damage but not all of it. a third told me that this has been "imminent" for quite some time. several folks i've spoken within the last 24 hours said that the idea that steve bannon, while the president's chief strategist will be able to rein in president trump from his rhetoric, it's foolish to think that. you can see trump speaking off prompter at a press conference several days ago. vonnie: whether retired or not, will he still have the presence ear?'s there were plant people close to the president who got distant but now again have the ear of the p

tom: thank you, kevin cirilli. are you in the bull market? are you near doubt -- the doubt 22,000?riela santos, let's go to a chart to show how you define a bull market. people will calm off the lehman low, the dow chart and of the 22,000 and ip to would take it back to 1942. how could you not on stocks? gabriela santos: that is why we encourage investors to own stocks when planning for investment. remember the experience of the 1990's with a sideways markets a it has been up and down. we seem to have broken out and we think regard in an environment where stocks will track higher. tom: to jpmorgan, where do you allocate new money? where do you choose to place a pot of money? abriela santos: with the that said, we have to acknowledge the next few years will be much more muted than in the beginning. tom: general counsel made you say that. where do i put the money? to puta santos: we want money increasingly overseas and we felt strongly about the eurozone recovery and emerging markets. investors in the u.s., specifically, and overseas are under allocated to a lot of these growth stori

we never appreciate the attention of's of -- of attentiveness of kevin cirilli.anged washington in the last 24 hours per how will capitol hill in washington respond to the president's bluster? cap ed: and the past -- kevin: in the past few weeks, a growing concern of a nuclear north korea and as peter said, all of this has to go through china simply because of the economic ties to north korea, more than 90% of exports and imports linked to china. that is why you saw secretary mnuchin announcing sanctions against chinese institutions. the rhetoric yesterday not exactly j-roll and praise from all members of congress, including peeper -- not exactly praise from all members of congress, including senator mccain the. tom: this is a brilliant must read. everybody knows he is supporting of "bloomberg surveillance," here is the admirable. i would believe mattis, kelly 'sd mcmaster get to stavridis sake, does the president understand he needs to listen to the generals? bank yes, if you listen to a statement about fire and fury, that is something folks are looking at. -- k

discuss theng us to remarks is kevin cirilli. about-face wasan is for the president?y original instinct was to pull afghanistan. kevin: complete 110% turnaround. but this is a president who had consulted with military generals, that he was not going to say what the strategy is. knowld himself to specifics in terms of benchmarks for how the united states will eventually withdraw from afghanistan. but privately, generals saying there will be an additional 4000 troops added to the 8600 troops already overseas in afghanistan. trump said one thing on the campaign trail, but he is a new reality. david: the speech last night was focused on this one issue in particular. on another hand, a lot of commentators saying this is a point of reset for the administration. what do you hear about that? kevin: personally, i am sick of commentators talking about this risk that. this is the commander-in-chief talking about adding 4000 roots to afghanistan. but this comes at a time where , wheres facing criticism republicans, like senator susan collins, saying they are not sure that he will

kevin cirilli joins us from capitol hill. use, there was as reported meeting between john kelly and jeff sessions. what else has john kelly now that he has achieved his first week at the white house touluse: general kelly has not wasted any time putting his stamp on the white house, overseeing the exit of several national security officials, some communication officials, including anthony scaramucci. he splashed onto the scene a couple weeks ago with statements about how he would fire everyone , profanity laced comments. he was out the door within hours of general kelly coming in. we have seen more order within the white house, we have seen the president continuing to tweet, but they had not been quite as newsmaking as they had been previously. we have seen the white house operating somewhat according to plan for the last couple of days. but we have also seen a number of links coming out of the white house in the last couple of days, so it will be interesting to see how general kelly manages that situation with leaks continui

do not know that when i am clueless, kevin cirilli dictates answers to me.a story on the president in control of his children. can the president be in control of a chief of staff? kevin: last night, the "washington post" reporting that the president got the final say about the statement by donald forward. when they came about that meeting with the russian attorney. the said, we also saw that legal team for donald trump jr. and the administration are refuting the portrayal of those events. but this latest story is making his way through washington. tom: an open question -- it is tuesday. what will you try to observe through friday about how this white house runs? forget about scaramucci -- old news. what do you focus on the next three days of white house dynamics? kevin: tax reform -- tom:, on. the people. who will go next? [laughter] kevin: with general kelly as chief of staff, yesterday, within hours of their first staff meeting, you have anthony scaramucci fired. inah huckabee sanders saying the brady briefing room that there is no -- that he would not be

let's bring in kevin cirilli from our bureau in d.c.. kevin, great to have you on. he wants to provide further funding and we know it has been a tension point between republicans the past and those who say why will you increase spending on this? how is this going to play out? great julia, you make a point. first and foremost, the president speaking yesterday at the white house, saying that he wants to make sure that those in texas and louisiana in areas impacted by the devastation because of tropical storm harvey get the aid that they need. dive deeper into the news of this, traditionally republicans have had a bit of a disagreement on the issue of disaster relief. some republicans feel they have to be budget offset for any aid advocated for this. nor has vice president mike pence, rather. but on the flipside of that, senator ted cruz, who was traveling with president trump, suggested that everyone is on the same page on this. saying in texas that he doesn't believe that there should be or suggesting that he doesn't think there should be a policy fight. the quick po

kevin cirilli, when he takes a train, it's the amtrak. he is the chief washington correspondent. a set of generals including at the pentagon come up three key generals -- mattis come a kelly, and mcmaster. what will they advise this president? kevin: great to have you back. there has been radio silence virtually coming from president trump following this latest missile testing. we should note that it came days after on saturday when three missiles were tested. this is the first time that the missile has been launched over japan since 2016 and another sure test that the generals are definitely going to have to be having president trump's ear. the of heard radio silence of the hours after this. no official statement from president trump following this latest development. francine: what does this mean? this launch comes after president trump and his foreign secretary said that kim jong un was starting to respect the u.s. it's almost a personal affront to the trump administration. kevin: definitely the way you put it is absolutely correct. this came at a time when president trump had

joining us is kevin cirilli. bring us up-to-date. >> good morning, david. announcing he is resigning from the president's manufacturing council. in a statement, mr. fraser said i am resigning from the president's council. our country's strength stems from the diversity made by men and women of different belief america's leaders must honor our fundamental values by rejecting expressions of hatred which run counter to the american ideal all people are created equal. he grew up in north philadelphia. he is the son of a janitor and went on to attend penn state university. president trump himself responding to this resignation in a tweet. he said -- the president has yet to tweet denouncing white supremacy and the nazism -- neo-naziism. penceresident mike denounced the acts over the weekend in a speech last night. mre president's daughter tweeted a similar sentiment over the weekend. still no tweet from president trump. the presidenttold will be meeting with jeff sessions and the new f.b.i. director earlier -- later today. they said the president will be issuing

senator marco rubio told kevin cirilli that he discussed additional penalties with the trump administration. to the vice president yesterday. we have been in constant contact with them. i think you can expect every time under oh do something outrageous white house will -- does something outrageous the white house will respond with sanctions. >> we will have more on the venezuela story coming up in a few minutes. brazilian protesters call for the president's removal at the opening of the congressional session. lawmakers are voting on whether to authorize the supreme court to put the president on trial on bribery charges. the president is deeply unpopular among brazilians. his approval rating at 5%. the government leaves it has enough votes for him to survive. than 7000 syrian refugees were driven from lebanon to syria today. part of an agreement between serious al qaeda branch and lebanon's hezbollah. which included a top al qaeda operative was the last phase of the deal. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. t

kevin cirilli, this has to do with three generals and maybe admirals to be.le crisis, surely one of the experts, michael dodge, the fact that our current twitter and commander in chief is surrounded by highly competent generals is only partly reassuring. out crazying kim jong un is a scary proposition. game theory also teaches us that if neither drivers worse, everybody goes up in flames. kevin, tell me the game theory of the players and the trump cabinet? kevin: i think it all goes to china, and quite frankly, the president and his unpredictability is something that several senior administration officials feel is an asset and not a political liability. and others feel that it is an liability, but again, in terms of how they are trying to take on this 33-year-old dictator in north korea is really through economic sanctions. they feel that the international coalition is something that is their best route. u.n.is why you saw the ambassador bring together global leaders of of the weekend. tom: does beijing look at mr. trump, the president of the united states, a

kevin cirilli joins us now.really have to talk about the way that the president went after the senator from connecticut yesterday. was this business as usual or was there something different in the invective? kevin: tom, he has done it before. his targeting of senator blumenthal was another iteration so to speak of everything we have seen the past couple of months. this democrat from connecticut really gets under his skin. this is someone who has pressed him consistently all the russia -- on the russia investigation th. the president going on a twitter attack and exposing him about his vietnam record, which is nonexistent. this is from years ago, and senator blumenthal apologized for it, but clearly the president using the bully pulpit to go after him. tom: what will be the plan of attack for the presidency on china, on north korea, particularly with the secretary of state in the philippines? kevin: secretary tillerson just a couple weeks ago has called china and russia economic enablers of north korea. over the