also want to thank bloomberg's rachel evans. that does it for the closing bell. " is up next.s is bloomberg. ♪ caroline: live from bloomberg's world headquarters in new york, i'm caroline hyde. here's a snapshot of how u.s. stocks closed today. nasdaq at a record high. s&p 500 just short of it. u.s. jobs data out. bolstering the news that the economy is rebounding. but not by enough to revive inflation. warren buffett announces he's ,utting money behind amazon giving investors plenty to ask him about. and the british currency outperforms after a pummeling for the country's biggest political parties. romaine: and we begin with jobs day. u.s. unemployment hitting a 49 year low with 263,000 new jobs added. a reserve bank of cleveland president told bloomberg the numbers were strong and the fed has decided to wait and see. >> i think our interest rate is a neutral rate, in the range of neutral. that is a good place for it to be. we are to continue to watch the data as we go forward. i think we are in a good spot in terms of our monetary policy. labor markets are strong and we take

eric: rachel evans interviewed you. you said something that stuck out to me.ade the case for alien life form being a bullish case for this etf. can you break down what you were talking about? >> this is a way to play many themes and trends. one would be 5g, cloud computing, things that have a lot of investment appetite. further off, we can see 2 types of lifeforms, a negative one or positive one. defense spending can be huge if it is an adversary. we can get a lot of technology if it is an ally. scarlet: thank you so much. technology is the best-performing sector this year. there are different ways to slice and dice tech. in this weeks there's an etf for that, we target one fund that is the cutting edge of innovation. the ishares exponential technologies etf trades under the slick ticker xp. it is considered one of the pioneer etfs when it comes to investing in companies tied to innovation. xt uses morningstar's definition of exponential tech. companies with significant exposure to products that displace older technologies, create new markets, and have the pot

scarlet: and -- eric: and you were on trillions, where rachel evans interviewed you. said something that stuck out to me. you made the case for alien life form being a bullish case for this etf. can you break down exactly what you were talking about? andrew: this is a way to play many themes and trends. one of them being 5g, cloud computing, things that have a lot of investment appetite. but looking further off, we can of alien lifeforms approaching us. it could be a positive, friendly life form, or a defense spending negative one. can be huge if it is an adversary. and we can get a lot of technology if it is an ally. scarlet: andrew channon with his new etf, ufo. thank you so much. technology is the best-performing sector this year. there are different ways to slice and dice tech. in this weeks there's an etf for that, we target one fund that is the cutting edge of innovation. the ishares exponential technologies etf trades under the slick ticker xp. it is considered one of the pioneer etfs when it comes to investing in companies tied to innovation. xt uses morningst

all right, gina martin adams and rachel evans, thank you very much. you can find all of the charts we are going to use over the next two hours at gtv on your terminal. browse the features, check it out. coming up, fighting back. more on china's trade war retaliation. this is bloomberg. ♪ david: earlier today, chinese state media announced the state list oftablish a companies that generally damage the interest of chinese companies. curran.me enda what do you know? as i understand, we don't know it all yet. enda: it came out on state radio this evening. what we do know is it looks like it is pretty much in response to the u.s. entity list. in essence, it looks like china is going to target those companies that have cut off supplies or u.s. companies that have cut off supplies. we don't have too much more detail, but they did say it is about not just foreign into these and organizations -- foreign entities and organizations, but also individuals. thatet takeaway tonight is china is getting serious about retaliation and they do have some options. dav

here to talk more about that is bloomberg's rachel evans. i was fascinated by this., vanguard is taking their mutual fund, attaching an etf in a certain way, and through variety of mechanisms, they are able to escape some of the taxes. >> this is a great piece that was done for us. when they looked into exactly , part ofard uses etf's the overall fund structure, what they outlined in the story is basically this unique fund structure that vanguard is able to deploy thanks to a patent that they were granted in the they have all their mutual funds and they are able to eat make them a share class in their mutual funds. securities have gone up in price. there able to use that as a whole fund complex rather than an etf. >> it doesn't eliminate the taxes, it just pushes them out. i still can't get over that this is patented. it seems very weird to me. is this something that other asset managers would do were it not for this patent? unknown, comparable i guess. we do know in the past, usaa has licensed this strategy. they haven't pushed out any funds on the back of that. thi

bloomberg's rachel evans with her etf coverage. we have the s&p 500 on the downside.he yen firmer. lisa, you are looking at that. >> it was the biggest one-day weakening of the dollar versus the yen since january 3. >> that is not a move you see every day. >> this is count down the close. >> joe weisenthal joins us. so much to choose from. >> oil is getting clobbered. i think it is interesting at a theme for the week, a theme for the day. it's not what you would expect. market.n a tricky weird a this is one we have seen for the week. >> this is a prequel reminder of he would now talk about imposing. >> it is also more straightforward. you would think, surprise tariffs -- i was talking to one of our colleagues pointing out, who else is he going to use the tariff weapon against on any sort of international complaint. >> you are seeing that emergency -- in emerging markets. i wonder what this has to do with that rates. basically the more accommodative the fed gets, the more supportive it is for emerging markets. at pretty steep declines as of late. here's what it looks l

economist and rachel evans. what is your call? >> our expectation is this rebound from the fed were installed will continue to get legs. we are a little bit higher than that consensus. we are at 210. i think the risk is we could see the unemployment rate grind lower. we are talking at 0.1 decline. if that happens, that means the fed has hit their targets for the year in april. that presents the risk that there is some downside risk to their unemployment projections. there estimates could be too conservative. david: how much will employers be paying for these numbers? i think we will see more evidence of those warm but not hot wage pressures today. with the echo again cost index. >> it's a little bit different than when we went into the fed meeting on wednesday. that's what we will be watching for today. i think there is going to be a lot of focus on that with the fed speakers coming up. everyone will be looking for a sign or indication of rate cuts by the end of the year. miss statement? there is a long data treasury bond having r

we are joined by rachel evans and michael mckee. we've got numbers out of china overnight that basically we are disappointing, below estimates, for retail sales, industrial production, and investment. this is over a long period of time, going back to 2008. retail is the lowest it's been since 2008. michael: the chinese economy seems to be in a double-dip kind of situation. this comes before trump raised the stakes in the tariff war's, so it is not a good starting point for the chinese. that is why you saw a rally in chinese stocks today because people think they are going to have to do something about this and bring about some additional fiscal expansion to try to boost the economy going forward. alix: those numbers are just for alibaba.t now the stock in premarket up by almost 2.5%. that is some serious money they are making just in earnings making,n -- they are adjusted earnings coming in. david: by the way, tencent came out earlier. missed on revenue, but beat handily on earnings-per-share. what does it tell us about the overall

david: we are joined by rachel evans and michael mckee. it really strikes me that in president trump's tweets this morning, he's really going through his economic theory over whether this could be good for farmers and the u.s. treasury. michael: it is a theory held widely by one person. no one else agrees with donald trump. maybe peter navarro. risenrevenue has dramatically. the problem is there have been a number of studies released in the last couple of weeks by the federal reserve and others that show that tariffs are being paid by american consumers and companies, which is exactly what you would expect. one study by the new york fed suggests it is costing the economy $1.4 billion a month, and those are being paid by the people who import the stuff, not the people who sell the stuff. david: a lot of economists say this is effectively a tax raise. let's talk about exactly what the goods are. let's put up a chart of some of the goods that now have to any 5% tariffs -- now have 25% tariffs. michael: the problem is they had been absorbing t