thank you very much, jonathan beinner: and michael o'rourke.he conference room in the ward park hotel, where they will start nafta negotiations. we are waiting for the news at the top inlet i robert bly heiser -- being led by robert heiser. jonathan: this is what the u.s. equity market looks like area futures are positive. dow, the s&p 500 with 18 out of 19 industry ftse incaptured by the three quarters of 1%. york, you are watching bloomberg tv. ♪ emma: this is "bloomberg daybreak." coming up at 1 p.m., carlos gutierrez will talk about nafta. ♪ we want to turn now to retail, target boosting his forecast for the rest of the year after second order sales topped analyst estimates, improving online sales and customer traffic. you can see the results right there in the marketplace, up 1.2%. zachng us now is sara hall . ivan currently has a buy on target. aan: it's very good to see retailer doing well in an environment that has been left for dead. they are doing well by competing on what their strengths are. they offer a good value proposition and a

jonathan: michael o'rourke, what are your thoughts on that?he only place seemingly absorbing all the attention in washington and elsewhere? michael: i think you made some great points earlier, especially when you talked about the u.s. federal government holding itself hostage. the dollar, it is a very simple way to express the uncertainty about the debt limit situation. the trump administration have these very lofty goals for legislation and reform, and the bottom line is nothing has been accomplished. it appears like nothing will be accomplished. like your previous guy said, we will come back in december -- september with these deadlines that makes the dollar the easiest place to go for investors globally to express that. on the flipside, even though we have had a pretty good earning season, the stock market in the u.s. is making all-time highs, it is a very expensive market and most investors over the course of this year have become very concerned about valuation. even the fed has expressed concern about valuation. overseashis rotation to eu