secretary mnuchin: the stock market is always right.ughter] said,ary mnuchin: i have we have two more days of discussions. we will be making announcements after really with the president -- we meet with the president. far, turkey has not been dissuaded by anything this administration has done or the president has said. what makes you confident that the announcement you just made is going to change turkey's mind? secretary mnuchin: i do not agree with your premise. i am not going to comment on specific confidential discussions that have been going on on different levels. do not think that is a good premise, but again, these are very powerful sanctions. we hope we do not have to use them, but we can shut down the turkish economy if we need to. >> how does the threat of these sanctions helped the u.s. allies who say they have been abandoned? isretary mnuchin: again, it a complicated military situation that is ongoing. .here are discussions i think the president has had very specific discussions -- as i said, the department of defense, we h

secretary mnuchin: i do not agree with your prominence -- your premise. i am not going to comment on got -- discussions going on. i don't think that is a good promise. these are very powerful sanctions paired we hope we don't want to use them but we can shut down the turkish economy if we need to. >> how does the threat of sanctions help the u.s. allies? secretary mnuchin: it is a complicated military situation that is ongoing. i think the president has had very specific questions. -- discussions. wes is a way of making sure protect the humanitarian issues and the other people on the ground. are things still staying the same or have they changed? secretary mnuchin: i have not heard anything one way or the other. >> what kind of consultations are you having with lawmakers like lindsey graham who has been very critical of the pull out of troops? secretary mnuchin: secretary pompeo has been speaking to them multiple times a day. is, issage to congress know people were contemplating sanctions and the president will use them when necessary. thank you, everybod

mnuchin: thank you. chairwoman waters, ranking members and members of the committee, i am pleased to be with you today to discuss the department of treasury's housing reform plan. last month my colleagues and i testified -- rep. waters: mr. secretary, would you move your microphone closer and speak directly into it, please? sec. mnuchin: last month my colleagues and i testified before the senate banking committee after the release of the plan. the comments and legislative frameworks we have seen from members of both parties reflect bipartisan agreement on the need for legislative action, and on the general principles of reform. i am hopeful with good faith discussions, congress and the ministration will act in a comprehensive matter to support affordable housing, tailored to the federal government's influence over the housing sector, protect taxpayers from future bailouts, and foster competition that will benefit consumers. that is why i was surprised and disappointed by the title of this hearing, which

mnuchin? >> it's very important. >> it's obviously very important if we want to have things that are sustained across the administrations that help the american people. >> absolutely critical. >> director, federal home loan bank membership, this was reviewed under mel watts. are you going to seek to have a review of home loan membership requirements? >> we are given that there's a large number of questions at different banks deal ing with rates, and captive insurers. we decided we'll soon be doing a request for information on the membership issue at large so we can hear from stakeholders. we may or may not do a rule making to clarify this. it's important we solve it holistically. >> director, there's a "new york times" piece from september 30th of this year outlining work done by researchers at the university of montreal and johns hopkins about flood risk. via the portfolios that fanny and freddie outlines, there's some alarming trends according to the study that institutions are passing off i

he would turn to steve mnuchin. steve mnuchin's turn at the bat in my view. > lou: you don't have to defend the president with me. i support this president enthusiastically like you do. >> he seems to believe in delegating things to a lead cabinet official. if it doesn't work, he picks someone else. lou: there is an old saying, personnel is a policy. michael pillsbury, thank you, sir. former special isn't to the president, kelly sadler joins us. we'll be right back. everyone uses their phone differently. that's why xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year on your wireless bill. plus, get $250 back when you buy an eligible phone. that's simple. easy. awesome. call, click, or visit a store today. lou: kelly sad les sadler. goo

he would turn to steve mnuchin.in's turn at the bat in my view. > lou: you don't have to defend the president with me. i support this president enthusiastically like you do. >> he seems to believe in delegating things to a lead cabinet official. if it doesn't work, he picks someone else. lou: there is an old saying, personnel is a policy. michael pillsbury, thank you, sir. former special isn't to the president, kelly sadler joins us. we'll be right back. there's a power in listening; it's what gives audible members an edge. it opens our minds, changes our perspective, connects us, and pushes us further. the most inspiring minds, the most compelling stories: audible. great riches will find you when liberty mutual customizes your car insurance, so you only pay for what you need. wow. thanks, zoltar. how can i ever repay you? maybe you could free zoltar? thanks, lady. taxi! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ [phone ringing] how are we doing? fabulous. ♪ i wonder how the firm's doing wit

and that included come as you mention, steve mnuchin, now are treasury secretary.e and his group of other investors including john soros, michael dell, came in and bought indymac bank, which was this failed pasadena california bank. and then proceeded to foreclose on over 100,000 families, including 23,000 seniors. under the deal that he made with the government to acquire this bank, which the government owned becacause it failed, he and his investors pay the government nothing. and then, although he invested some of his money in the bank, we then paid him to subsidize this foreclosures. documents i obtained under the freedom of information i showed we paid his group more than $1 billion. wilbur ross, the commerce secretary, had a similar deal at bankunited, which was another failed bank in florida. juan: indymac, as you show in your book, was really the first major bank to collapse and then a series of others happened in 2008. it was basically based on a lot of either fraudulent or predatory lending. if you could talk about that as well? >> there were a lot of pre

according to steven mnuchin, sally, both sides are working the phones to get the little details doneroposed phase one text would include a quite broad tractor on protecting us intellectual property rights in china and partially touch on the issue of forced technology transfers to chinese companies. up until this point, sally, beijing has denied its laws requires such transfers and any that occur are the result of commercial transactions. other issues included in the phase i deal are the opening of the mainland financial services market, currencies and agricultural issues. in phase two, manu chin said some technology issues would be addressed, as with non—financial services. he said the trump administration objective was for the agreement to be signed at the apec summit in chile. earlier this week steven mnuchin said if there was no progress on the deal, the trump administration could still impose the planned 10% tariffs on $156 billion of chinese goods, taking effect on the 15th of december. the clock is ticking thank you so much, rico in singapore. now let's brief you on some other

joining us now treasury secretary steven mnuchin. secretary, you announced friday that you now have the authority to impose sanctions on turkey for what we're seeing unfold. given that we've seen 100,000 people displaced, these isis prisoners out, execution of some of america's kurdish allies, what's the hold-up? why don't you impose the sanctions? >> this is a complicated lopingtion. you have a nato ally on one hand fighting against the kurds who were helping us with the fight against isis. we're in daily communication with turkey, both at the defense department, the state department on very specific issues. we are ready to go on a moment's noticed to put on sanctions. as i said, these sanctions could be starting small. they could be maximum pressure which would destroy the turkish economy. the president is very focussed on this. he's offered to mediate the situation. it's a developing situation. >> what are you waiting for? look at what we saw on the ground. this is a rapidly deteriorating situation. >> you are correct. it is movin

to see the president at some point we just don't know exactly what they're going to stay stephen mnuchin came to the briefing room a short time ago, i asked him for an update on the talks and whether or not it's possible we get to the end of the day today without an announcement of any developments at all we declined to answer the question he said the talks so far have been productive and that time of the day they were going in to brief the president but no specific indication from mnuchin that anything at all had been agreed to. obviously with the president in the room, he's the decider, the person who can set up the agreement or knock it down we'll see what happens. >> what have we heard from the president today? i know most of the tweets on this topic were earlier in the day. but the word "deal" has appeared in some of those tweets? >> reporter: right the president's framing on that has been elusive what we've heard from the president so far is that the china deal is a good deal. he's referred to it as a specific noun, but he hasn't said it's been signed or agreed to so the phraseolog

according to secretary mnuchin, we are halfway there. is he right? rufus: good afternoon.ood to be here. business is skeptical of whether or not this deal has been finalized. we will wait and see what happens. the chinese are saying they have to come back and finalize things. onn if they get this deal this first tranche of agreements, it is not clear it goes far. it seems to be commitments to make agricultural purchases. the president announced three or four times in the past the chinese have already agreed to that. it does not seem to have any fundamental changes in structural reforms in china. the tariffs the president has already put on the chinese are not coming off. the best we are going to get out of this deal is a delay in any further tariff increases, and some kind of commitments on agricultural purchases. frankly, i doubt those purchases even get us back to where agriculture was before the trade war began, when we had $24 billion in exports. the question will be how long does it take to get back to that level? >> there was some stuff apparently agreed to, not quit

later, treasury secretary steven mnuchin.e treasury secatory >> yep. >> joins us to talk about china trade. the escalatining tension with china. here is a look at friday's s&p 500 winners and losers ♪ through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from managing inventory... to detecting and preventing threats... to scaling up your production. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. you should be mad that this is your daily commute. you should be mad at people who forget they're in public. and you should be mad at simple things that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today. what are you doing back there, junior? since we're obviously lost, i'm rescheduling my xfinity customer service appointment. ah

it wasn't michael milken or steve mnuchin's branch.ker was the first person i heard pushing these. the spirit of opportunity zones is to attract developers to undeveloped or run-down areas. is that actually happening? because the more stories that are popping up, whether i'm at soho house in brooklyn and someone tells me this is an opportunity zone, or you hear about places in miami, one of the hottest areas in the united states. is the intention of opportunity zones now being warped by savvy real estate developers and not ever getting to their intended use? >> it's a little early to say it's not getting to their intended use, given that they just promulgated the regulations on these things. it's a relatively new program. this was always the fear about opportunity zones. we've done empowerment zones in the past. investors can defer their capital gains by plowing that money into development in theoretically underdeveloped, underserved areas. it doesn't always work out that way. as you mentioned, there are areas of the country that can b

>> i think mnuchin was sent out there because he's a fresh face. he has not been a face that has been seen on this issue. sending out mike pompeo could have been disastrous considering the way he's being deceived by the state department, career people in the ukraine scandal. this is outside mnuchin's brief and he tried to stick to the topic. >> when you think about the lives lost since this started to happen hand we have lost so many lives so far, you are beginning to see a refugee crisis of people leaving northern syria, seeking safety elsewhere and not getting support from anybody. what needs to happen to rectify what is taking place in northern syria? >> what needs to happen right now is that we do need to provide humanitarian assistance, we do need to call the turks out and we need to look at these options towards turkey to stop their incursion but we also need to really lean in with russia, we need to lean in potentially with iran as well and others who are engaged in conflict in the region and find a diplomatic path out. the secretary of stat

and he has put steve mnuchin in charge of the whole thing.depends on steve mnuchin's negotiating skills against the chinese. lou: would you have describe him as a dove or a hawk? >> i would describe him as the secretary of the trelings are you. thanks, lou. lou: either way, it's a bird of some sort. on squall street stocks finished lower. nasdaq down 59. volume on the big board 3.5 billion shares. some of thebank set to take control of' wework. it's going to have an ipo. some of thebank paying $1.7 billion. another 2 billion into the company. you can see how income is being distributed at wework. it's valued at $8 billion. that's down a bit from $47 billion valuation. not so shiny. we'll be right back with attorney sidney powell and spygate. and michael flynn, her client. stay with us. lou: joining us tonight, sidney powell, author, and attorney for general michael flynn, her client now. i want to start with william taylor today. two channels he said for policy make with ukraine. one regular, one irregular. what's the big deal? >> i don't thi

they are using the very same words that steve mnuchin and the president have used.a very good sign. the abyss or the brink that was talked about when larry kudlow mentioned there was a study group set up in the white house, that was to look at whether chinese companies can be allowed to be listed on the american stock exchanges anymore because they have not provided their accounting data, which is required for all the rest of the world and for american companies. chinese have claimed for several years now they got this waiver back in 2013 under president obama, they say our auditing results are state secrets to the sec and american investors can't have them. you can imagine if that step had been taken, it would have a slide in the stock market for all chinese stocks. several other majors could have been put through if we had gone to the brink but we didn't so that's very good news. liz: absolutely. you want to bend versus break, that's just a logical thing to do, but michael, perhaps the market reaction or lack thereof because the dow is down 23. we saw the markets

we haven't gotten much news today about steven mnuchin stepping outside.uld we read a lot into this, or is this someone just walking outside? >> probably just someone walking outside. a lot ofe did not get headlines out of these meetings or even presidential tweets has a good sign. it seems like negotiators are focused on what they should be focused on, going over the pieces of paper and legal texts of what can get done in the next 24 hours or so. it is probably a good sign. we know that the vice premier is supposed to see trump tomorrow. thee have any sense of what point of that meeting is supposed to be? >> we don't. cautiouste, let's be about the fact some of the progress was undone after the president was briefed or he found out something he didn't like and moved ahead with tariffs anyway. from himlong ways away sitting down tomorrow, but the fact we did not get explosive tweets is good. they will walk across lafayette .ark tonight we will see what comes out of that. they will recap how the day went. we are a long way away from announcing a partial dea

. >> reporter: at the same time, treasury secretary steven mnuchin announcing new sanctions on turkey. >> the president hasn these sanctions are very, very strong. he is prepared to remove these sanctions if there is the necessary actions on turkey's point. >> reporter: but those moves came just hours after president trump seemed utterly dismissive of the kurds, long u.s. allies who feel betrayed he

also turkey, threatening to retaliate after treasury secretary steve mnuchin mnuchin announced the administration is authorizing sanctions against turkey, amid its incursion into syria. but it is not activating them at this point. he also said the united states can shut down the turkish economy if we need to. i'm jackie deangelis in for elizabeth mccdonald. the"the evening edit" stars rigt now. jackie: president trump says he has a substantial deal with china. we have blake burman and gerri willis on the floor of the new york stock exchange where stocks surged today. let's kick it off with blake. reporter: after roughly two years of negotiations and one broken down framework already earlier this year, president trump saying from the oval office this afternoon, along china's vice premier and his team that the u.s. and china came to a trade deal. walking through an outline of a deal, the president says it will an ab by of 40 to $50 billion, open up services sector of china and i.p. theft and currency manipulation. however there is a way to go. the president says it is divided up into phases. phase

it may have been of steve mnuchin. he said, mr. president, is this what you envisioned what you talked about what had happened? we'll see playback of this i would think in a little while but the president said to blake. you know what, it is phase one? china opened up financial services. that is a tremendous thing. then he went on to say he got ip. a lot of agreement on that. more of that will be in phase two. i get the put the question, ted, from what you know, is this what you envisioned as a face one? >> well i think, connell what happens is it becomes somewhat after bandaid as far as i can see. i think heavier part will have to be later on. the administration they needed good news. they got news from this for sure. but i don't know. i think the jury is out on that. if you looked at volume, it was only half what it normally is. it wasn't what it quite looked like it was. connell: that's fair deion, my question whether this fades one, whatever you want to call it or pause, whether this speeds up the timetable looking at a more com

there are more negotiations going on everybody heard steve mnuchin in the oval office say there is more work to be done in china as well i think the good news, what everybody is talking about in terms of substantial progress, the good news is not just the $40 billion to $50 billion purchases over the next couple years, the really good news is the agreement on the idea of a large office in both washington and beijing that will try to adjudicate disputes before they go to enforcement action that was actually specifically mentioned by steve mnuchin on cnbc this morning. this is very good progress >> although again, these things are -- they are not as exciting in terms of headlines as you might have thought chhing the more you look at it seems to be a little bit more watered down the intellectual property protections. is there really a there there oig or are we just talking about talking about it in the future china has these ten demands, none of which have been met. so what are those demands and are they still on the table? >> china's ten demands were leaked by the chinese side back when t

treasury secretary steve mnuchin maintained today that a fundamental agreement between e two countries has been >> it is subject to documentation and there's a lot of work to be done on that front, but it includes intellectual property rights, it includes financialrv es, it includes currency and foreign exchange and it also i very significant structural issues in agriculture. >> but some investors feltwe detailre scant and china is describing the agreement in a way.erent nice yoon starts us off tonight in beijing. >> reporter: a chinese stateio mediagy attempted to explain why the chinese have th been describinoutcome of the trade talks as substantial progress as opposed to president trump's term, deal. the notes are closely watched by trade experts say that the reason is even though the chinese shares the same spirit as the trump administration on the talks, that t t cy'retious about their words becau of previous, quote, flip-flops. that has been the message from the chineseide that from agreement is not yet in place. state media hereas made little mention of beijing's pledge to buy u

. >>> we're following some breaking news right now, the treasury secretary steve mnuchin expected tofing room. we'll go straight to him. >> giving the treasury department in consultation with himself and secretary pompeo very significant new sanctions authorities that can be targeted at any person associated with the government of turkey, any portion of the government. this will be both primary sanctions and secondary about the ongoing military offensive, and potential targeting of civilians, civilian infrastructure, ethnic or religious minorities and also the president wants to make very clear it is imperative that turkey not allow even a single isis fighter to escape. again, i want to emphasize at this point, we are not activating the sanctions, but as the president has said, he will provide very significant authorities based upon the continuing efforts. so he will be signing this. they will be active. we will be working in consultation with the department of defense and department of state to monitoring this very quickly. we are putting financial institutions on notice that they s

despite optimism from president trump about progress in talks, us treasury secretary steven mnuchin is deal. monica miller is in our asia business hub. it's one step forward and one step back? where are we? high level trade talks expected to take place next week, however, before investors get too excited about any progress, steve mnuchin is sending a message to the chinese ahead of these meetings. in an interview with cnbc, steve mnuchin said a new round of talks set for december 16 could kick into gear if the chinese do not sign the tentative deal they reached in washington last week. —— new round of tariffs. president donald trump says in contrast it was a lovefest with beijing officials, that they had during that two—day session. now, he did say a preliminary deal would take about five to complete, they may be able to sign something when the chinese president, they all meet at apec in the summer in chilly. chinese officials were not so chilly. chinese officials were not so lovey—dovey about the whole thing, they said it was a cautious and conservative meeting. —— chile. they simply

treasury secretary steven mnuchin is saying that the u.s.l not be implementing the increase in tariffs on chinese products that were set to go into effect next week. remember i talked about the october 15th, the tariffs that were supposed to kick in. guess what. treasury secretary mnuchin says no, that will not be happening. so we are looking at that as an extreme positive, at least if you're talking about a pause. i don't know if they say it's going away entirely or it's been vaporized, chris anderson, but -- chris robinson, rather, but that certainly is something a piece of it that i personally was waiting to see. >> well, yeah. certainly, talk about the ag, there's a lot of soybean producers out there would like to see that go away permanently. they talk about $40 billion to $50 billion, two years ago they took a little over two billion bushels of soybeans. that alone is worth $20 billion. so if we can get back to the way we used to be with our soybean exports, that would go a long, long way towards making a lot of farmers feel a lot bett

treasury secretary steven mnuchin is set to hold a briefing in just a minute or two here. we're being told it's not about china but that he will be taking questions. we'll follow that event live for you as it plays out, of course. markets are happening on to about a 427 point gain right now as they focus on reports of a china trade deal. that happens at 2:45 p.m. between the president and the advi vice premier of china. we've got positive signals from the uk, even from the eu that a brexit deal might be possible. will is here with more. are we talking about a deal by the end of the month, them leaving? >> possibly. the market move suggests there's hope of that. sterling has surged nearly 40% in 48 hours as hopes of that brexit deal have dramatically improved. the uk and european risk assets have loved that news, especially the domestic focus ftse 250 and the irish stock market to avoid the worst case scenario of a no brexit and the uncertainty that an election would bring. having seen hopes for the uk prime minister boris johnson's deal lowered on monday after reports of a

after last week's positive signals in the us—china trade war, us treasury secretary steven mnuchin has the tone again. let's go to our asia business hub, where rico hizon is following the story. rico, what did he say? really sharp turns, threats, warning china that if a deal isn't struck by the middle of december, new tariffs on $156 billion worth of chinese goods will be imposed. but president trump seems to be more optimistic, describing the talks on friday as a love fest, and he said the preliminary deal would take about five weeks to complete. and, you know, it might be signed with chinese president xijinping know, it might be signed with chinese president xi jinping at the apec summit in chile. but listening to the chinese officials, they have been more cautious, more conservative in their approach about the outcome of those talks, simply claiming there had been progress between the two countries. earlier i spoke with a former white house international economics adviser to president trump, and he said a deal is still on track, despite mnuchin's comments. he doesn't expect, though,

treasury secretary steven mnuchin continues to oversell this. >> i think that's right.>> how much of this is china's long-term strategy, trying to string this out to the election to see what the results of that might be? >> there's an abs expect of that. -- aspect of that. i think more broadly, china doesn't want to make concessions on these tough issues. to be honest, there have been so many reversals in the trade negotiations and some of them have come from the administration. so beijing right now is skeptical. they don't know if any deal would stand up. in other words, if they were to go ahead and make concessions, would it actually keep the u.s. from imposing more tariffs down the line. so there's mutual distrust on both sides. which makes it really difficult to tackle the tough issues. maria: all right. we'll leave it there. michael, great to get your insights. thank you very much for being here. coming up this morning chuck robins is here, steve scalise is here along with ehud barack. we have a big show coming up. bailing on libra, company's backing out of faceboo

mnuchin is willing to change it. thank you to alex harris. now we go to london and bloomberg's senior executive editor david merritt. apparently boris johnson is going to get the election he so badly wanted. finally: that's right, after all of the debate and the speculation, the labour party agreeing this morning to back this bill to have an early election within a few days. they have not firmed up the exact date, but some of the 29th and the 12 of december, pre- christmas election, first one since 1923. it will be one of the most unpredictable elections in modern times as well. this issue of brexit dominating, of course, when he has cut a swathe through the two main parties, and the votes on the remain site are going to leak to the liberal democrats and the votes on the hard brexit side brexit to nigel farage's party. it is hard to see who comes out on top. boris johnson well ahead in the polls at the moment gets an unpopular leader of the labour party, jeremy corbyn. in this first part it is hard to see whether that will translate into a ma

he actually says -- and he said it out loud -- maybe steve mnuchin, treasury secretary steve mnuchin, will tell you about his financials. the treasury secretary. yes, that is the same steve mnuchin who refused to release the president's tax returns to congress. yeah, you know, i'll bet he does know what the president has. and then there's doral, right? a great business which the president admits -- he admits that it is losing money. >> i have a great business. i have the best properties. but between what i lose and in all fairness some properties -- doral is an example. doral, we're setting records when i bought it because i owned it for a period of time. setting records. it was going -- there was nothing like it. it was making a fortune. and then what happened? i announce i'm going to run for office, right? and all of a sudden -- and i say we got to build the wall, we have to have borders, we have to have this, we have to have that. all of a sudden, some people didn't like it. they thought the rhetoric was too tough. and it went from doing great to doing fine. it does very nicely now

and doctor carson, secretary mnuchin u.s.have been here before and you're aware that tricks that go on. and i appreciate you being here. sometimes i'm amazed myself with what happens here. there is a popular television commercial about these young people in the middle of a horse show and the have an opportunity to run away from this terrible incident they are in and they jump in a running car to go behind chain cells instead in rancho cemetery. i often relate that to congress. as it seems like when we find yourselves in the middle of a really bad situation some of us look for the running car and others want to run to the chainsaw to make the situation worse and worse. i appreciate what you're trying to do with the reforms of the dsps. you're looking for the running car. the economy is the running car that we can jump in and strength the power to make changes going forward. an economy is strong in my hometown of georgia we just posted in august the lowest on employment rate and history of that county. and to give you an exampl

treasury secretary steven mnuchin giving investors reason to worry after the president's highly touted phase one of the china trade deal on the verge of a deal reportedly closing in on a deal but head winds remain. black and big blue ibm with another disappointing earnings report. and don't be a fool. president trump's unconventional message to turkey leader it is thursday, october 17 "worldwide exchange" begins right now. ♪ >> good morning. welcome to the show, we'll hear from brian in california this morning. netflix set to miss based on one key issue. >> shares up just about over 8% but the stats were not all positive subscriber additions below estimates. warning that subscriber growth would all fall short citing finance changes and more competition. their ceo saying the streaming wars are noisy >> fundamentally, there is not a big change here. it is interesting that we see apple and disney launching basically in the same week after 12 years of not being in the market i was being a little playful with whole new world and the drama coming disney will be a great competitor apple is ju

that is the key for treasury secretary steve mnuchin i think as well as u.s. trade team.ow are they going to enforce china not stealing our intellectual property? that is the key. >> point you made, if we have the majority of these joint ventures are not forced into them at all, that is good way of not having them to through the files. real quick, brian, consumer sentiment number out today was absolutely phenomenal. what caught my eye, negative impact of trade went down from 29% of respondents to today. what is it about the american consumer they seem to be more smarter than everybody else? >> unemployment and wages are accelerating at lower income levels. if you look at consumer spending on just goods, move services out of there, it is up 8.7% at annualized rate this year so far. so if companies are out there going, oh, no, we're uncertain about china, we're not going to produce, guess what, inventories are going down. that is one of the reasons gdp has been weak. they're falling behind. charles: right. >> these companies are not listening to their customers saying every

robert lighthizer and steven mnuchin released a statement saying the u.s. is closer to finishing phase one of the trade deal, giving investors a reason to bed up share prices. although they have stalled out, we are looking at gains in materials and technology. intel is the best performer in the dow industrials, giving an update profit and sales forecast, shrugging off of those trade war concerns. we will be talking with reporters later on to discuss the state of brexit. there is the chart that i want to highlight. because you are here, we are watching the loonie. amanda: hitting key levels last week. we are still waiting for the bank of canada. we also have an election with parliament. it is interesting to see the currency. we already saw weakness priced in. speaking of, amazon trading off the lows of the session, possibly because we had decent news on the trade file. here is a look at the profit declines we are seeing for amazon. company had coached investors that it will see a loss. it's been giving profit and growing it. now not only is it saying the 1.5

but why is mnuchin going, okay?siness reasons just like the wall street guys are going. the wall street guys are going, they want a bigger piece of this ipo. mnuchin is going because the trump white house wants saudi aramco, essentially, to list on a u.s. exchange. i they think that's a big thing. there going to be two legs to the ipo. the first is at the end of the year, that'll probably list locally, but the second comes later, and that's one they want listed on the nasdaq or on the new york stock exchange. that's why he's doing. guys, it's one year after khashoggi, his murder. but money is the reason why wall street is showing up, it's the reason why the white house is showing up. bottom line. liz: as we say, the expiration date on moral outrage has already -- >> one year, one year and the treasury secretary is going to this conference. liz: charlie gasparino, thank you. when we come back, president trump is about to speak live about the shale revolution. we will take you there and listen in. ♪ muck. ♪lo ever sin

treasury secretary steven mnuchin. >> it was a tremendous achievement. >> steven mnuchin pledged to increaseions against iran. chilean president fired eight members of his cabinet following 10 days of riots and protests. the ministers were all dismissed. he named a younger and more centrist team to replace them. they heard the message from protesters that they want a more fair and inclusive society. a top pentagon adviser argues that u.s. restrictions on recruitment in information sharing is counterproductive. he spoke at stanford university causing -- calling for access to china's top scientists. ban on individual travel could see the number of visitors fall for the first time since 2003. the number traveling to the septembernged 46% in according to data from taiwan's tourism bureau. global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. david: thank you. equity markets are losing some momentum as we go into the later part of the session. about hong kong, seeing some weakness there. be as farconti

secretary mnuchin tells reuters china is also pledging to remove forced technology transfers as part of the phase one agreement, but he is not at the point to make recommendations to president trump on the status of the tariffs scheduled to take effect december 15. the justice department is close to a sweeping deal in fugitive financier jolo to recoup almost anillion dollars looted from indonesian investment fund. sources say could be the biggest recovery and an anticorruption crackdown by the u.s. government. as settlement could be filed soon as this week in a california court. global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. >> live in toronto, i am amber kanwar. welcome to "bloomberg markets." here are the top stories we are following from around the world. expansion.the it is a phrase that markets are waiting for. will jay powell signal a stop, pause, or continuation of rate cuts? the b

earlier, secretary mnuchin had said the u.s.ould be sanctioning the turkish defense, energy and interior minister's. three of turkeys minister chiefs will be sanctioned. -- u.s. will general it issue general licenses for humanitarian work. saying the licenses will allow turkey to buy fuel. vice president pence saying president trump spoke to president erdogan, saying the u.s. wants a cease-fire. our managing editor for russia, africa and the middle east benjamin harvey is monitoring developments. he is in d.c. right now and watching these talks as they continue at the white house. teeth do theseh sanctions actually have on turkey? benjamin: so far, i think these sanctions are mostly symbolic. if you look at the market reaction, that is also what it is indicating. the perception is the u.s. is being much more cautious on turkey then some of the extreme rhetoric would suggest. trump and other u.s. officials have for some time now been morning they would take measures to absolutely destroy the turkish economy. so far, that is not w

hearing that news from steven mnuchin, we're stunned by that.t speaks loudly from being on the ground in turkey, what's making the most noise are the facts of the sound, the turkish are ti-- artillery pounding all day, the helicopters overhead, seeing tank after tank heading to the syrian border. that is what is having an impact, not a statement from steven mnuchin or tweets from the president saying turkey will never stop this step no matter what anyone says, it will continue this fight until we go further south and push 20 miles from the border. so the genie is out of the bottle here, turkey is doing this and we've been watching them do this now for the last three days. there are thousands of civilians fleeing, people are dying. from seeing those tanks on the way to the border, i suggest the bloodshed will get higher now and this plan by erdogan is coming off the rails and he has to pull back but we're a long way from that at the moment. certainly washington is flailing around, frankly, is the way it looks from here and has no ability to contr

mnuchin: i have met multiple times with the representatives from facebook.e have told them we thought their launch was premature, that they have not addressed fundamental issues around money laundering, bsa requirements and others. ♪ taylor: shares of texas instruments are tumbling in after hours trading on tuesday. at one point, they were down more than 9%. this as the chipmaker posted a weaker than expected forecast for the quarter. it is another sign that rebound in demand for semiconductors will take longer than investors hoped. to tell us more, i bring in "bloomberg technology's" ian king. you have been covering this chip sector for us. so, coming into this, we will -- we were looking for top and bottom line declines through the end of the year. does that look like it is playing out? ian: we were expecting things to continue to decline but at a if you like a better rate, the declines would be smaller. what we actually got from texas instruments was the reverse. instead of being 3%, 4% revenue decline in the fourth quarter, they are predicting as bad as

neil: literally just in the last minute or so, we have something new on steve mnuchin.e burman? reporter: as soon as i tossed back to you, the white house announced secretary steve mnuchin will be holding a briefing in the press briefing room at 1:45. that's about 27 minutes from now. but let me pause there and caution you, you might be thinking well, does this have something to do with china and trade, might the treasury secretary be giving an update on that. i'm being led in the direction that this briefing does not have anything to do with china, does not have anything to do with trade. might the treasury secretary be asked about that when he steps into the briefing room, as he just left the u.s. trade representative's office after about seven, eight hours of negotiations yesterday and a few more this morning, sure, i'm assuming maybe myself or my colleagues will ask, but this briefing for steve mnuchin in the briefing room about half an hour from now, i'm being told, not china related, not trade related. i don't know specifically what it might be related to. but we

ainsley: mnuchin said we could shut down all u.s.pressure which would destroy turkey's economy. a lot of power. brian: people go well, i don't know any kurds. i have heard that argument. well, let turkey handle it a region of conflict. we brought security to it. it brings stability to it. we keep troops in germany because it stops the soviets now the russians from going through there we keep 56,000 in japan so we have some type of semblance and presence in asia. as much as people want to say fortress america. it didn't work when washington was president. it doesn't work now. i also think it's important to bring up the axios report yesterday that the president was really respondent. erdogan called the president's bluff in the past he kept saying i'm going to go into syria and look out. he kept say going you go in, you will own this mess. so when the president was told on sunday i'm going to go in, instead of the president holding his line and saying no, we're sitting there. don't even try it. he backed out and then, of course, he went

secretary mnuchin has walked out of the building already. the chinese trade sources saying what they're trying to do, they're trying to get suspension of tariffs, rolling back tariffs in a trade deal to see what the u.s. needs to do from that side in order to make that happen. chinese trade experts are saying in the past the chinese, the past events that the u.s. is doing has given the chinese hope there possibly could be some suspension of tariffs. they look at a japan trade deal which adds just agriculture as well as digital trade. they say possibly the chinese thinking there could be a small trade deal done with just the two sides. things that both sides agree upon, move forward with everything else at some point next year. the president himself said the tariffs are bringing china to the table here. he want to keep up that pressure to try to work something out in order to get a full trade deal. he says he does prefer that full trade deal over a partial deal. now we're looking for an indication how things are going. secretary mnuchin did n

on friday treasury secretary mnuchin announced new possible sanctions.to get the authorities in place, but at the moment the president commands the treasury secretary the, he can go ahead and do maximum sanctions which, of course, would wreak great damage to the turkish economy. turkey's a nato ally, the kurds have been incredibly helpful in helping us to defeat isis. the isis caliphate, the physical caliphate is destroyed. that continues. and at the same time, this president has made a commitment to not be in endless wars. the last two administrations kept us in the middle east, great expense of money, but most importantly, of lives. and he doesn't want to continue. he's been very clear about that. maria: what is the president going to do in the face of all of this? he's trying to conduct business and yet the resistance is trying to stop him at every turn. are you expecting him to try to sue nancy pelosi and adam schiff as he suggested last night? >> i maybe he can, but americans are smart and fair-minded, and they see what's happening here. you have de