ramy: ramy inocencio in new york.s climbing to striking optimismof records, on growth can continue even as the world's largest economy square off in a trade skirmish. dennis gartman, writer and publisher of the gartman letter, joins us from virginia beach, virginia. let's throw up a bloomberg chart to kick this off. yesterday 500 is near a record high, and at the same time the vix is its lowest since the start of this year, with the backdrop of trade tensions. what's going on? haidi: quite honest -- dennis: quite honestly, you have me. i am one of the people who thought trade tensions would be deleterious to the market, but it is still a bull market, and trade tensions will matter when they matter. i have been at this for 40-some years, and if i learned anything, it is that things don't matter until they actually do. there will be discussion of trade again, the dow down 500 points, then it becomes a problem. until then, it doesn't matter until it matters. ramy: we got some clarity on continued tarrifs between the u.s.

ramy: i am ramy inocencio in new york.d deal did not only lift up wall street, but is boosting emerging markets as investors hope a successful outcome might pave the way for a resolution with china. kathleen hays is looking at this. em currencies up for the third day in a row, but volatility has to be attached to this, every time you say em currencies. kathleen: maybe it's because em currencies have been so beaten up, starting with fed rate hikes. so many things. argentine inflation, the turkish lira, erdogan's problems. but now you have a situation where the u.s.-mexico trade deal looks like it might go through. there is something on the table, canada rushing in to see what they can get to maintain the nafta relationship, if not the agreement. but three straight days they have been up. they are on their way to their best move in a month, when it comes to moving higher, partly because they have been so pessimistic, even a ray of hope helps. what could happen now, president trump is getting ready to look at the end of the 2

jenna: i am ramy inocencio in new york -- ramy: i am ramy inocencio. to first live -- first word news. hasinda: president trump defended tariffs, saying playing hardball on trade is his thing. he told supporters the u.s. rebuild china over the years and it is time to focus on america. he knows the plunge in chinese stocks weekend beijing's power. $60a released a list of billion worth of u.s. goods it intends to hit with tariffs very of the president has -- with tariffs. strategydent said the to get information on hillary clinton, it is routine in politics, totally legal and done all the time. this contradicts a statement that said the meeting had been focused on adopting children from russia. he said recently he did not know about the meeting at the time. aan is racing to complete string of deal before the u.s. imposes new sanctions. they have taken delivery of five new passenger planes after washington gave the sanctions. public resentment is building that the u.s. push the riyadh -- the riyal to historic lows. they will try to halt the currency decli

ramy: it is past 6:00 in new york on a sunday. i am ramy inocencio. looking at where things are heading, take your pick between the u.s. and china, u.s. and russia or u.s. and turkey. there is a lot of rushing about with sanctions and tariffs. we are seeing the knock on in the currencies. let's show you what is happening first with the dollars. you can see it's sliding. the euro is heading the other way, down a quarter of a percent , and we can see the biggest movement happening with the turkish lira, now retracing some losses, 5.6%. we had above the seven handle, 7.2. after the headlines in the past few minutes, we see it going back below seven. 69 --he russian ruble, 67.9, that is the weakest in the past two years because of restrictions coming from the u.s. with regards to what has been happening with that u.k. double agent and the nerve agent attack we saw earlier this year. quick check of the close, markets on friday, good day. , really a0 and nasdaq broad basic line based on the geopolitical tensions and what is happening. sanctioning, and china

ramy: all right. former trade officials on the talks between u.s., canada and mexico here on bloomberg television. let's bring in claude barfield, a former consultant to the office of the u.s. trade representative. good to have you here. so 69 days left until the midterms, november 6. congress is not known for swift action. can this actually be passed? claude: well, if it is passed, it will go well into 2019. i don't think this anyway, even if they were to reach agreement on friday, that you could actually, because of the legislation congress has put in place, congress has control of trade in the united states. they have a set of deadlines that would take the administration well beyond december. so i think it's going to be difficult to pass is, because then if the democrats win the house, they will come back with things they want, and then you have to possibly renegotiate. it's good to focus on what's happened in the last week, and it has been fascinating, but down the road, i think there's a lot more

ramy:.hey and remember, bloomberg users can interact with the go.ts shown using gtv you can use them to quasm it -- up on analysis and save them for future reference. this is bloomberg. ♪ ramy: let's do a quick check of headlines. high precision posted a surprise fall in earnings last quarter. that is slowing demand for apple's flagship device squeeze margins. 300 u.s. million through june. compared with the estimate of 700 million. they rely on apple for more than half its sales and is looking to diversify. haidi: earnings doubled in the first quarters boasted by growth in the global market. hon hai. revenue climbed 22% from the year earlier to 5.4 billion. the global steel is benefiting while infrastructure spending is still in demand in india. ramy: up next, netflix throws in a surprise plot twist as it recruits a new financial held. details in a moment. this is bloomberg. ♪ haidi: it's 8:30 a.m. here in sydney where markets open in about 90 minutes' time. futures showed a little bit of p

ramy: i am ramy inocencio in new york.east asia's biggest developer, capitaland, just posted earnings for the second quarter. net income at 605 million singapore dollars after the city tightened property curbs. julia is standing by with the company ceo. takeaway. -- take it away. julia: that is the key question, the singapore property curbs and whether they have done enough. let's get it over to mr. lim. thank you for joining us. you have seen the property curbs start to have quite an impact. have they done enough to quell demand? mr. lim: i think it is adequate at this point in time. the market has moderated. sales volumes are coming down. but on the other hand, when you look at it on the capital level perspective, we have always been watching this market very carefully. over the last few years, we have decided that we will take, we will underweight this part of the market. we have been reducing exposure to the singapore residential market. with these curbs coming into place, we are in position to look at potential opport

ramy: and it's just past 6:00 p.m. here in new york. i'm ramy inocencio. we'll be looking at how action in wall street and around the world will play into the asia pacific trading day. today's turmoil was brought to you by the letter t, turkey, ten cent, tesla and who let the bears out? copper now in a bear market. e.m. equities also. of course the s&p down by the most in about seven weeks. let's get more with su keenan here in new york. sue, even some positive u.s. data couldn't stop this sea of redful >> not at all. name the commodity, it's a down day. the trade war and turkey. the only one-two punch, stocks closed off the lows but boy, they were down. 10 cent, tech stocks were the lowest. the s&p 500 again down for a fifth out of six sessions. let's go to the commodity story. the bears in control. g.t.e., copper and commodities as a whole tumbling amid the trade woes and the big movers. tesla sexilet subpoena worries the least down stock of the bunch. macy's as mentioned, getting hit hard excite the fact it beat -- despite the fact it beat earnings. ten

ramy: from bloomberg's global headquarters, i am ramy inocencio in new york.t passed 8:00 p.m. tariffs taking a toll on japan. trade deficit five times worse than expected. vaccine scandals, tighter scrutiny, and regulatory change. now is the time to invest in biofarma in china. ♪ yvonne: here we go. pretty ugly day here today. this time when it comes to asia, seems like it's a storm of our own making when it came to tencent. those earnings, pretty big mess. reaction is with the stock, but the reverberations we saw throughout the day in the u.s. action. ringing agoing to be lot harder and louder than the turkey situation. , or thes, the stock prophet, was the first fall in the past decade or more. that had to view and a little bit of a storm in terms of new regulations for tencent on new titles and aging titles. we did see a knock on effect in terms of u.s. technology here, but that was one storm of many with the s&p 500 falling to his lowest in the past seven weeks. there's also em equities as well as the commodities complex taking a beating. yvonne: tencent

ramy: all right.he phrase "unnamed candidate" comes up many times in terms of what michael cohen had been saying when we were breaking the news. unnamed candidate, the presumption is it is donald trump. do you agree, and why won't they just say his name? jens: i think it's because you will see more legal maneuvering about this in the future. i think it is clearly donald trump. i suspect there will be a legal filing in the future where not only do they announced that it but i suspectp, they will possibly list donald trump as an unindicted co-conspirator. they want action file an indictment against trump, but that's what this is heading. that will be a separate phase. they also have to work out with cohen what the conditions of his cooperation are, which as i understand they have not done yet. haidi: jens, the theme of extra-legality over many different topics has kind of plagued the president. is this the one that is going to stick, and what is the legal crux it will come down to? jens: i think it will

ramy: i am ramy inocencio in hong kong -- in new york.mera -- let's bring in sophie. reporter: stocks gaining ground in tokyo as well as in seoul. the political turmoil continues and we have earnings to digest. aussie assets, you have bonds gaining ground heading the 10 year yield lower about -- at about two basis points. the dollar is that for a second day of losses as it's the klein deepens. now it is -- as its decline deepens. it is trading at session low. qantas is off at about 6%. we have legal losses amongst travel related stocks. tbd telecom earlier jumping to a high as it considers a merger with hutchinson australia. you can cook cosmetic hankookory jumping -- cosmetic company jumping nearly 46%. i want to highlight japan's daido metal sinking. and machinery.s, their production facilities in the u.s., thailand, and indonesia. they delivered a 60% revenue and the quarterly profit and it's made an earnings report while setting off a challenge for local rivals as well. however, things may not be so rosy behind this change. let's brin

ramy: i am ramy inocencio in new york. wondering if it will be followed by a terrible tuesday. they do remain under pressure. the feeling is there developed peers are relatively well insulated. president erdogan insists his come -- country is under economic attack. let's discuss this with kim wallace, who joins us from washington. hasing at what mr. erdogan been saying in terms of not moving or excepting capital controls or rate hikes here, not really exactly sure what the endgame here is especially with the lira now near its record weakness. where -- what are they waiting for? kim: they are likely waiting for evidence of how the negotiation with washington is going to unfold in the near term. the longer term issues of turkey's structural imbalances are not in question. short-term debt is very high, and will need servicing this year. at the same time, the political issue that brought turkey and the u.s. to this point is not yet resolved in the subject of talks that at least last week seemed to be making progress. ramy: are

ramy: i'm ramy inocencio in new york.set to send another $200 billion in tariffs on china. that would keep extra pressure on beijing, with trade talks going nowhere, and early indicators showing the economy weakened again this month. over to shanghai, china markets economist david to. when you heard donald trump said these words that he is ready to pull the trigger, what were your thoughts? david: i think i saw it brings only uncertainty to the global trade. we allthoughts? know that china is in the chains.tream of global everyone should consider what would happen if desk -- if china is affected. on the other hand, this has been a long-lasting thing. i think china is somehow ready for this. it seems hope is definitely falling away from us, with less than a week from when this could happen. in terms of policy tools that could happen, that beijing could pull, we already know things are on the table, including reserve rate cuts. do you think one, that's enough, and what else could they do? expect more cuts by the pboc, and m

i am ramy inocencio.ver the next hour we will look at how the action on wall street will play into your asia-pacific trading day. haidi, looking at the markets, looking at currencies, looking at bonds, it definitely was a risk-off environment. take a look at the s&p 500, up a little more than 0.6%. looking at this, it was actually a very broad rally, across all 11 sectors of the s&p. the leaders were consumer discretionary, also financials, also materials. looking at currencies, the bloomberg dollar was up by its strongest in 14 months. in addition, there was this knock on effect in emerging-market currencies. the turkish lira rose the most since, get this, 1994. in addition, we also saw the ruble rise as well as the south african rand. let's take a look at asian markets. see how those are trading, as we look ahead here. we are not getting as much of a knock on effect, but we see the new zealand 50 is pretty much unchanged, as is the new zealand dollar against u.s. dollar. sydney futures down about 0.1%.

ramy: i am ramy inocencio in new york.ou are watching live pictures of donald trump in west virginia, talking about right now about steel tariffs making the industry when of "the hottest." we are looking for lying to see if he will be talking about what's happening over the past few hours with two men from his inner circle, michael: and paul as michael cohen as well paul manafort. you can watch it on your bloomberg terminal, mliv . we will get you headlines as they come from donald trump campaign speech here in charleston, west virginia. meantime, let's go to the markets. the s&p 500 touched an intraday record in the latest wall street session, marking yet another milestone in the nine-year bull run. we are one day away from breaking that, depending on what data you are looking at. joining us from l.a. is a ceo and chief investment officer. jason thomas, good to have you here. before we get into the highs, let's actually go into the market lows. the s&p 500, in terms of its features, are at a low. .afe havens are also

ramy: yes.: there is one important thing that has to happen on the chinese side before the renminbi can truly become a global currency, and that is you cannot have foreign-exchange controls, capital controls in order to beat and undo fall in the level of the currency. as you move towards freer capital markets and free of foreign exchange closed -- freer foreign-exchange flows, that is when you become a mature global currency. ramy: great stuff. thank you. sri: thank you very much. ramy: always great to speak to you. remember, bloomberg users can interact with the charts shown using gtv . you can browse recent charts, catch up on key analysis, and save charts for future reference. this is bloomberg. ♪ the latestpe of headlines. the legal problems are worsening. prosecutors have opened a criminal investigation based on multiple complaints that the unit was used to launder billions of krona of dirty money. it was launched in estonia last week. senior creditors of towards the rest are expected t

ramy: it is past 6:00 p.m. in new york. i am ramy inocencio.e will be looking at how the action on wall street will play into your asia-pacific trading day. i have to say today was confusion because based on reports from china as well as the united states doing tit-for-tat in terms of words, escalating what is happening in terms of global trade, it has been confusing and that brought investors to wonder where they should put their money. let's show you how stocks ended the day today. you can see confusion. the s&p close to the flatline. 2813. the nasdaq was up .5%. that is thanks to apple which did see a pop of 6% very not yet but gettingrillion, close. $973 trillion is where they stand. traffic -- trey definitely weighed. haidi: we are expecting that to play out with most asian futures in this part of the session pointing lower. let's look at how we are setting up for the asian open. trading in new zealand getting underway. kiwi stocks are trading flat at the moment, exactly flat as you can see. also seeing downside as we get into the aussie o

ramy: i am ramy inocencio.n to the opening bell, and tesla likely to dominate the headlines. a sovereign wealth fund and saudi arabia could become a major investor in elon musk's plan to take the carmaker right of it. tesla is facing two investor lawsuits. bloomberg's su keenan is here. su: a lot of pressure to push the stock either way. let's talk about the possible ending. we have learned from people close to the matter saudi arabia sovereign wealth and, also known as the public investment fund, has built up a stake of 5%, under $200 billion in tesla. the way tesla has traded has a lot to do with the questions about where their private funding might be coming from. couldarabia's involvement possibly be the answer to taking the electric our maker private, as elon musk has tweeted out he intends to do. people close to the matter say discussions are at a high level, but no commitments are set. we are told according to people who have asked not to be named that this investment is a strategic way for the biggest c

ramy: i am ramy inocencio in new york, it is just past 7:00 p.m. on sunday.arkets set forth a mixed and muted start. traders looking ahead to the meeting at jackson hole. elon musk says this is the way im and rejects calls for him to change and the way his company operates. ♪ ramy: good morning, happy monday. looking ahead to this week, the biggest events is what will be happening with the trade tensions and negotiations happening between the u.s. and china, we have low-level ministers from both sides, as well. they are potentially paving the possibly inmmit november. yvonne: everyone expecting that maybe not so much a breakthrough, if we can get some illumination of further tariffs. the u.s. has threatened more for later in the year. we mentioned also jackson hole, the central bankers meeting on the break. it will be interesting to see jay powell, his speech, and how he will deal with the e.m. of volatility spikes we have seen, and what it will mean for rates. ramy: a lot of people will be reading the tea leaves to see where he stands on any possible tweaks

ramy: and i am ramy inocencio in new york.haidi stroud-wattsa very brs investors speculate that the trump administration will continue to make progress on the trade deals, at least in north america. joining us is a chief financial officer. chris, the s&p, a brand-new high. let's take a pause to collect where we are at this moment. how are you feeling? chris: great. yes, it seems sustainable. maybe some of those trade war headwinds are lessening a little , so there is a little more confidence out there. we also got corporate earnings today, gdp style earnings, corporate profits. those were pretty good. ramy: sure, revised upwards of 2%. on the bloomberg terminal, i our to show you as well as bloomberg terminal subscribers and our viewers this chart here, called "bulls on parade." i brought this up yesterday, because we are seeing while folks are raising their forecasts, including barclays, there is the red line, hitting above that marker -- is that a red flag to you that we are due for a correction? chris: it has to be somethin

ramy: i am ramy inocencio in new york.n to turkey again, where president erdogan has vowed to boycott iphones and other u.s. electronics in tariffs andfor sanctions. tradeer u.s. representative -- let's get to the top of the view. where do you see things going? >> it is hard to say at this point, because the turks have to deal with their problems. the u.s. has not made any easier. in fact, trump has made it a lot more difficult, and that is a problem in itself, but the fundamental problem, they have a current account deficit of 6% of gdp. they borrow heavily in foreign currency to finance that. they will have a lot of rollovers, refinancing. interest rates are higher in the u.s. than before, the dollar is higher, making servicing the debt more difficult. first of all, they have to deal with fiscal problems, so they don't have such a big domestic deficit, external deficit. second, they are going to have to do something with interest rates to make it more attractive for people to hold their bonds. ramy: it seems, though, tha

ramy: that is right.ade tension that exists have affected a number of sectors in different ways. i expect this will continue into the second half of the year. do not think we are out of the woods yet. and so, the investors have definitely started to kind of take note on these tensions and reallocated allocations into more defensive sectors and defensive names across single stocks. i think that given that we do not seem to have two -- have the light at the end of the tunnel just yet that will probably continue. ramy: there is a discussion going back and forth between active zen passives here. earlier this week we had a guest talking about active management has trump passive this year. i want to get your reaction and thoughts on this. we are so very much a passive house. an indexing house, as we prefer to call it. cycle,go through the there are always opportunities to switch between active and passively managed strategies. i do not think the multiyear growth you have seen in indexing is going to go away. lo

ramy: over to tesla.ng possible bumps in the road after elon musk did an about turn and dumped his plan to go private. followed by news that a senior exec is leaving the company. su keenan has the latest twists and turns. preplanned. it was let's take a look at the chart. the big question is how wild the right get? year to date, it has been volatile. but look at the peak on the far right hand side, august 7. that is when elon musk tweeted he was taking the company private, that he had secured financing and later came out that he had not. look at the blog posted friday night. knew the process of going private would be challenging, he says, but it is clear it is more time-consuming and this tracking than initially anticipated. he told the board the best path was to remain public. let's take a look at where the stock has been in the past week. late in the week, musk had secured morgan stanley to advise on going private, possibly through m&a after the saudi arabia and sovereign fund appeared to have been spoo

ramy: thank you very much.ntime has defended his use of tariffs, saying later -- saying playing hardball on trade is "my thing." an additional $60 billion in goods could be hit in retaliatory tariffs. tom, trump is claiming to have the upper hand on china. really underscoring what he sees as the importance of introducing tariffs, saying they are working with the eu. this is ang that tactic that will pay dividends in terms of the trade tensions and relationship with china, saying that the global economic foundations needed to be rebalanced in the u.s. favor, that the u.s. was taken advantage of for too long. at what he had to say a rally in ohio over the weekend. >> they have taken $500 billion per year for many years. we have really rebuilt china. it is time we rebuild our own country now. check theto fact present, he said $500 billion, is talking about the deficit, it's actually closer to $375 billion. nonetheless, president trump outlining, saying the tariffs were making a different, having an impact in the l

ramy: ok.onetary easing, we have been seeing deterioration china.financials in we are starting to see a little when it comes to possible triple archives coming out. to what degree is there possibility that the pboc could say, we will open up the spigots a little bit, but on the other side you mentioned in terms of capital flight, it is something they have been fighting for a long time? richard: we have had mild stimulatory measures, relaxed bank reserve rates, slight tax cut, tax thresholds. one person described that quite well. it was a painkiller instead of a steroid. but there is a big debate now in china because direction of policy is towards deleveraging which means slower economy. there is quite an open debate or fight between the pboc and the finance ministry. the pboc does not want to be responsible for stimulus. just more bank lending. they would like the finance ministry to pick up the slack. those tensions are playing out well.ying out as if xi jinping doesn't want a slowing economy,

ramy: it is just past 7:00 p.m. on wednesday. clouds are gathering over emerging markets once again. faster credit from the imf. magic approaches apple's number, the trillion dollar market cap within striking distance. good morning yvonne. again withllish want the s&p and nasdaq both hitting records again. i will show you those numbers. what we are seeing is this bullishness coming from the optimism from u.s. and mexico and the u.s. and canada. there is still uncertainty with regards to what happens with china. according to analysts, that seems to be something further. aboverst time it closed 2900. up by nearly 1%, 8100, breaking that level. we will get more on that from su keenan. let's look at the boards. over little more insight into what is happening with the currency. lowerged but it had been in u.s. trading. the canadian dollar and mexican dollar strengthening. yvonne: we mentioned how exuberant these markets where. we heard the president of china when it came to why the sessions are breaking down. it might be cupping some

ramy: and i'm ramy inocencio in new york. joins me here for that.after hours movers on earnings. in thehave when and em spotlight. when in particular down. it was a bad day all around for the casino. particularly, the disappointment has a lot to do with unevenness in the macau casino. there is what is being called a tough environment from the eyepiece. a lot of junk coming in and pulling away the big whales in the casino business. earnings,f second-quarter net revenue missed the lowest estimates that chairs had been down as much as 7%. some of the better news is coming out on the conference call just ended recently, what we are seeing is a caltrans are up 20% in july. the fourth quarter in las vegas is expected to be up. what they have had in vegas is a lot of competition and lower room rates. if we go to caesar's real quick, you can see that stock was down in a huge way. on negativeraday news in vegas mainly and that infected the entire industry stocks. , disappointing same-store sales. this has been spun off from the larger international brand. we

ramy: -- yvonne: i am yvonne man in hong kong. ramy: you're watching "bloomberg daybreak: asia."get the first world news. reporter: inflation remains steady in japan last month. prices minus fresh food and energy claims by treat -- 3/10. the bank of japan's 2% inflation target remains a long way out of reach. the bank of japan governor has skipped the fed and the jackson hall conflict -- symposium for the first time since taken the job. new zealand central bank says it is an no rush to raise rates even of it means it is out of sync with the raise -- rest of the world. our governor adrian said he has if ruled out cutting rates it is necessary to reach the banks inflation target. bewe are in no rush to raising interest rates. that puts us out of sync a little bit with the rest of the world but that is fine. it will help support our economy. we do not rule out a cut if we have to. we have to ask to ask -- to use the full range of inflation. the cap certainly is on the table. secretary of state mike pompeo sister not -- heads to north korea next week to make sure kim jong-un 60 ms. p

ramy: the u.s. close now, and it was a mixed day for stocks until the trump headlines and then it was down from their. -- from there. the s&p extended losses on reports the donald trump wanted tot $49.9$200 billion in taris be imposed on china. su keenan has the latest. su: the market has known this was coming. it was a date certain, although there was optimism that perhaps there was wiggle room. we've known how often trump changes his mind p let's go to the markets because the news did land with a side of the market. 100 down,e nasdaq that is tech heavy. as well as the semi conductors. let's go into the industrials index and you can see exactly ba-boom where that news hit. this sector the most it because they are exposed to the tariffs. let's go to the act is where you seem retail take a big hit, in addition to u.s. steel in the bullseye of those tariffs. dollar tree down because they do not have an online sales strategy. michael's disappointing with eeir third quarter adjusted ps. bloomberg. the w

ramy: u.s.cks rose as investors held onto hopes for a trade were easing while treasuries advance at of a meeting of central bankers later this week in jackson hole, wyoming. skin behind all of this with thornburg president and ceo jason brady, joining us from santa fe, new mexico. let's take a step back and look at the markets here. we are 15 points away from a new all-time high for the s&p. optimismisplaced behalf of what's happening with trade tensions, or do you think there's something behind this? jason: i think what is driving the s&p higher, the part of it is strong u.s. growth. one of the reasons why the fed is in play or perhaps the president is trying to influence the fed a little bit is because they are raising rates because we are seeing the usb strong in some contrast to -- seeing the u.s. be strong. donald trump has complained that mr. powell cheap money fed chair, but with that said, looking at the situation with the economy, it can be argued that he's just doing what he needs to b

ramy innocencio.e will be looking ahead to how wall street will impact your asia-pacific trading weekend. any indicator of what might be able to happen, the s&p 500 ended on a record. 28.74 is what the s&p 500 closed that. up to 6/10 of 1%. this is its seventh weekly rise in the past eight weeks. leaders included materials and information technology, and energy. possibly getting a boost from jay powell's speech at jackson hole. his comments were interpreted as a dovish. on track, it looks like for a september rate hike. on the order of the 60% hike. haidi: looking pretty mixed as we have japan and hong kong opening higher. we are looking at negativity closer to home. trading new zealand is underway. modest upside. the kuby dollar trading at 6695 to we had that move in the u.s. dollar index. wewas the biggest driver as have the pboc potentially coming in to provide more support for the yuan. that also led to more support for the aussie dollar. we have seen stability after the losses of last week as we

ramy: driving the fact that.ight want to get long on the euro bloomberg's global markets editor, adam haigh. do nothing get to check out our gtv library for some of the charts you just saw their, that is on gtv go on the bloomberg terminal. not to australia and the battle to become the country's sixth prime minister in the past decade, it is headed for a showdown at high noon today. paul allen is here with the latest on this political crisis in canberra, and possible implications. paul, what might we expect? paul: it is hard to predict, but you can think of it as a series questions., if 43 signatures show up on the petition to call a party room meeting, and both will be called leadership.o search if the vote is called, the prime minister will not stand. so that means that there will be a three-way contest between leader gotten, the leader of the right wing faction that brought this all to a head this week, and bishop, prime minister and treasurer.son, the that would really appease the right wing of the labour par

ramy: up next, is bigger actually better? trend in australian business seems to indicate it's not. we'll look at the country's a ire for downsizing in just moment. ♪ paul: another beautiful winter's day. the fate of new south wales, a drought. futures looking pretty. i'm paul in sydney. ramy: it is 6:30 p.m. and watching day break australia. let's get our news. >> president trump is telling china to come up with a better offer ahead of trade talks next week and he won't do a deal that hurts america. the talks will be the fourth round this year and only the first since tensions flared in june. they seemed to reach a deal in may but the president backed away. >> we are talking to china and they want to talk we're not going to do any deal until we get one that is fair to our country. > surged the most in six months. optimism that it will fall. t jumped .8 of 1%. it had sunk to its weakest since january of last year. he currency strengthened more. gottenint said they have immune. .e.o. said it has sunk despite the u.s.-china trad

ramy: garfield reynolds, thank you.orget to check out our btv library for some of the charts you saw. it's on btv go on the bloomberg terminal. china's economic rough faced the effects of beijing's deleveraging campaign and trade fiction -- friction. still, the head of china's trade bureau says he still expects it to surpass the target this year. are don't think the data disappointing, although there are some slight fo fluctuations. the fundamentals are sound. is moving steadily was some improvement and that has not changed. >> the data does suggest we are seeing a gradual slowdown. >> the goal we set at the beginning of this year's for china's gdp to grow by around 6.5%. the first half of this year, we have actually realized a growth of 6.8%, which is a lot higher than our original target. i think it is fair to's they growth of six point -- to say growth of 6.5% is very rapid speed in the world. among major economic powers, only india can beat that. we will continue to aim to achieve these growth targets, but in my per

ramy: i am ramy inocencio where it is fast 7:00 -- it is past 7:00 on thursday in new york.d equities in new york, the dollar is higher and the yuan is pulling back.

ramy: from bloomberg's global headquarters, i am ramy inocencio in new york. spotlight later after snuffing out initial gains following the pboc move must week.

ramy: let's get you more on our top story. president trump donald -- donald trump has been hit by a legal blow. michael: pleading guilty to charges stemming from payments to women who claim affairs with him and a jury convicting his former campaign chair, paul manafort, of fraud. the president says manafort is a good man, and he feels badly for him. pres. trump: this has nothing to do with russian collusion. this started as russian collusion. this has absolutely nothing to do --

this time, rami malek is t esca >> you can be savage. >> you had to lose weight.uch weight did you each lose and did you kind of stick withacat process? >> i was down to 145 for this but i think i probably started at 180, maybe like 35 pounds. >> and you were a little worried about him during all this? >> sitting in the mud and hanging out and watching charley starve so i was a bit concerned. but he's all right. ♪ we will we will rock you >> rami also transformed for another role, playing freddie mercury in the upcoming "bohemian rhapsody." >> he's revolutionary and an icon and that's it. >> it's going to be pretty darn good, rami. >>> someone else knows about the queen ontman. adam lambert. he's actually back with the legendry rock band for a limited engagement in vegas. keltie's getting all the details from adam himself. ♪ >> queen and adam lamshow? because vegas gets crazy. >> it's all the biggest hits. i've been on tour for about six years with these guys. it continues to be such an honor. the audience wants these hits they know so well. ♪ we will we will rock

and indeed, president rami clea ry before may. president rami cleary before the meeting began that he would not start into negotiations. no, but i think that is disingenuous slightly as well and at the french have a big role to play. and if reports are to be believed, which i think they are, that the french are one of the main driving forces between eu and its firm line. they refuse to budge from its established for key principles and to show any flex ability whatsoever. so of course, i think the british press here actually do see this as a cry for help from theresa may because she is trying to make her plan work in some shape or form and get some result from it. she has gone there to emmanuel macron to hopefully seep that there is maybe not immediate attention coming from this in the short—term, but in the medium term and before we get to the final deal if there is to be one agreed, then what is hoping is that he will then use his influence, she can persuade him that it is notjust in britain's interest but also the european inter

we saw the support in the video of rami and his brother, in which rami expressed his deep gratitude forlp his family received from so many other christian families worldwide. who made it possible for them to return to the village. in every society, families generate peace, because they teach love, welcome, forgiveness. they are the best antidote to the hatred, prejudice and vengeance that can poison the life of individuals and communities. applause. asa as a good irish priest taught us, the family that preys together stays together, and radiates peace. —— prays. such a family can be a support for other families that don't live in peace. following the death of the father, the family chose forgiveness and reconciliation over hatred and resentment. they saw in the light of the cross that evil can only be fought by good and hatred overcome only by forgiveness. almost incredibly, they were able to find peace in the love of christ. they love that makes all things new. tonight they share that peace with us. they prayed and praying together. and while i was listening together. and while i was l

i'm serious, rami. >> that is a massive compliment.ght of filling those shoes is tremendous. i just tried to put those things out of my head and do whatever it took to just capture 's zmre night's event gave $3.2 million in grants and scholarships. overall, hfpa committed more than $33 million to humanitarian efforts. >>> just try and stop mark wahlberg from working out. the guy never stops hustling in fitness or his career. but last night, he was able to enjoy the fruits of his labor at the "mile 22" hollywood premiere. >> anything we've earned in this lifetime we worked for. >> mark has worked for it, that's for sure. >> 4:00 a.m. >> his predawn workouts are legendary. >> beautiful. >> anybody else join the 4:00 a.m. club. >> get up early and get it in. >> i'm not sure how many takers mark has in this cast. >> i'm sleeping. >> i'm getting up at maybe 5:00. when he gets up, sometimes at 2:00. i don't get up that early. i also don't have a golf addiction. >> they take no prisoners in this cia action thriller. but they both cleaned up r

. >> ramy and another girl were hurt in the crash. and ramy is under rest for multiple counts of felony manslaughter and dui. >>> the ranch and river fires which make up the mendocino complex fires and 59 which is and 93% contained respectively. the river fire burning nearly 49,000 acres. and today firefighters on the front lines will be getting more help when a crew from new hampshire arrives. as for the carr fire, it is 61% contained. and authorities say it has now burned nearly 203,000 acres in shasta and trinity counties. no estimated containment date. later today two of president trump's official cabinet members will visit redding for briefings with local leaders. the secretary ryan zincy and secretary purdue will also walk through ravaged areas. >>> peter struck faced off republicans in june during a bitter congressional hearing regarding those text messages. according to struck's attorney the fbi's deputy director ordered the agent's termination on friday even though officials decided struck should be demoted and suspended for

ramy: i am ramy inocencio in new york, it is just past 7:00 p.m. on sunday.arkets set forth a mixed and muted start. traders looking ahead to the meeting at jackson hole.

ramy inocencio has the details. ramy: elon musk is thinking about taking tesla private.g environment for the company must say his is a distraction to workers who are shareholders. he said he has got funding secured. target share price. but the big question he has left us with -- how is he going to pay for that? find $66need to billion, and that means that would be the biggest leveraged buyout in history. there have been reports that saudi arabia's sovereign wealth fund could be lift to this. it is said to have built a stake of less than 5% in tesla, worth about $2 billion. investors push tesla's share price up 11% into its highest in almost a year, but short-sellers are still out there. on daybreak asia, i spoke to the ceo of mainstay capital, and he has been short on tesla stock and he is sticking to his guns. david: this is not change my perception or outlook on my short position. we were in shorting more shares today on the strength of the stock. ramy: david kudlow doubling down. pushing this forward, the next question was should be asking elon musk is to show me the

ramy: doubling down. be asking mask -- asking elon musk is show me the money. rishaad: up next, the battle of the charts. stay tuned for that. this is bloomberg. ♪ rishaad: time for battle of the charts. who's going to start off? i think it will be andrew. andrew: i like this chart because it shows what trade wars do with actual, real things. soyave the china inventories. it is a seasonal chart. it stacks on year on year. that is important because, as you can see, in 2016 and 2017, inventories go up in summer and get run down in winter. what the white line is showing you is just how much that has changed this year. beforently, it changed the trade were really started going. trade building up right before the trade war. here we go. rishaad: that is quite compelling. screen?at is on your adam: this chart sums up market conditions at the moment. we have the s&p 500 on the top line and we have the vix, the index of fear and uncertainty in options market. mind back to january before the big market collapse in

ramy: petrochina is said to be planning a temporary halt of purchases liquid natural gas from the u.sto avoid potential tariffs in the trade war. sources tell the unit of state-owned will increase buying from other countries or swap u.s. cargoes. how will halting u.s. imports affect petrochina? stephen: the big thing that will happen is china is going to try to mitigated as much as possible. the sources i have been talking to are saying it wouldn't be hard for china, which just imports about 5% of their lng from the united states, to swap cargoes with other suppliers or buyers in the east asia region to minimize cost. right now, it looks like the strategy may be able to hold off large impact on the company. >> argentina has taken emergency measures to stabilize the peso. raising interest rates five percentage points and announcing an fx auction. these unorthodox moves come in response to the turkish lira's downward spiral ripping through emerging markets. felipe: what you have seen in latin america is when you have these kinds of negative external shock, most countries would allow the

ramy: and tesla declines for a second day on reports of a