let's get a first word news update with sebastian salek. onald trump has had talks with canada to overhaul nafta are going well, expressing optimism the countries could reach deal this week. canadian prime minister justin trudeau said his government is trying to meet the same deadline. his foreign signaled talks are progressing well. >> i feel both parties are coming to this stage of the negotiation with a lot of goodwill. he certainly, that is what canada is bringing to the table. we understand each other's position and what both sides need very well. sebastian: donald trump has accused china of undermining u.s. efforts to pressure north korea into giving up its nuclear weapons, indicating a trade war with aging is starting to exacerbate geopolitical tensions. a tripsident called off to north korea by mike pompeo, saying there hasn't been enough progress in talks aimed at denuclearizing the korean peninsula. the u.k. government has told the eu it must compromise on its position on theresa may's plan or risk a no deal brexit. the pound rally

today, sebastian salek will go head-to-head with dani burger. m that miller -- matt miller. sebastian: hot topics in market. below -- dmer correlation, we often assume the dollar is what drives copper. this chart suggests other factors at play. you have the coalition between copper and the dollar. it is negative. what is positive is the correlation between em stocks, the 52-week relationship is at its highest in six months. if it is bad for copper, it is likely to be bad for em. all right, indeed interesting stuff. let's see what you've got. dani: big day for correlation charts. i am looking at the correlation between stocks and gold. gold has lost its safe haven property. following --old falling to the lowest in 19 months. because stocks have fallen also, they are the most positively correlated in over five years. if you are using gold as a hedge for multi-asset portfolio, you are in trouble. matt: normally, gold is one of my favorite subjects and it has been a real brainteaser why it has had such a rough year, but today, it is all about copper

here is sebastian salek.gent trump is china in the european union of manipulating their currency. he made the comment to an interview with reuters without explaining his comments. the treasury department stopped short of naming china or the eu a currency manipulator. microsoft has uncovered a new russian effort to crack conservative think groups before the 2018 election. the hackers created web domains that mimic their sites, but microsoft got a court order to take over those domains. has survived a challenge to his leadership. he may be challenged again within days. party leaders are concerned about slumping poll ratings. president nicolas maduro is cutting 50's off of the boulevard after years of hyperinflation. venezuelans may encounter soaring prices today. a 24-hour strike to protest the devaluation. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. salek.bastian this is bloomberg. tom: thank you so much. equities, bo

i am sebastian salek. this is bloomberg. tom: thank you.ll be doing many more data checks on surveillance. dow futures negative. there is a weight to the tape over the last half hour. zero slams in. oil does not have a bid. the vix reverses. not a big figure. it is a long way from the 10 level. the dollar is the deal. new dollar strength. the bloomberg dollar index does not show that. we will show that through the show today. it looks like cold. the flight 20. -- it looks like gold. the flight to zurich. francine: i am going to look at repercussions and contagions. turkish lira, you talked about it. i am looking at yen. there is a pretty mild risk off move. something you cannot forget. this is my favorite story, the european banks. this is what is most exposed. this is a local turkish bank. italy's unicredit owns about 41% of the turkish bank. has exposure,so but they are less dependent. tom: why is deutsche bank not on that list? why are they removed? francine: they just don't have exposure at the moment. the bond exposure, i don't know wh

let's get bloomberg first word news sebastian salek.mp says he has the upper hand in the trade war. he said the nation is prepared for a protracted war and doesn't see sacrificing short-term economic interest. the exchange of barbs says it will retaliate against the u.s., who proposes tariffs on $200 billion of imports. saudi arabia suspended diplomatic ties with canada in a dramatic escalation over a dispute over the kingdom's arrest of a woman's rights activist. canada ordered an envoy to leave within 24 hours. the saudi foreign ministry was excited by the canadian foreign minister, criticizing the arrest of the activist. saying 5% or is higher. jamie dimon made the comments at a summit celebration. he said the current bull market could go for two or three more years because the economy is still doing quite well and markets turn right before the economy. and iran is racing to compete for a string of deals for the u.s. imposes tough new sections -- sanctions with you and air. public resentment has been building as tensions with the u.s

." >> i am sebastian salek. stocks finishing the day in european trading, the stoxx 600 up by .5%.itive momentum filtering through to your. london is closed. we see lower volumes, about one third of what we usually see in trading, affecting how things are playing out. we are led higher by the carmakers, we saw that in bmw. that is playing through the dax and the cac. bmw,are rising as we see daimlerchrysler trading higher. they have got metro there, the supermarket group outfitted buying a stake there. this is the biggest intraday move the stock has had, up by 12.4%. , a semiconductor company, a short position being announced. the biggest drop or is -- dropped is ambu, more losses today. look at the currencies and your bonds and start by looking at the turkish lira, down by 2%, earlier by 4%. if you have a look at the risk reversal, you can see a picture, options seeing a less frantic move ahead for the currency. $.05.ro-dollar up by finally, the germany 10 year , the yielding a bit rising, the bonds of dropping as we had strong numbers earlier out of germany. that is a look at the

it is his first time sebastian salek is a victim. we have had a long day today. is worth the wait.loomberg. ♪ live from new york i'm vonnie quinn. close thee european bloomberg markets. of it to consolidate u.s. broadcasting. the merge attempt has been rejected. let's bring in bloomberg's opinion columnists. what was the issue here? >> it was less about the regulatory environment and more about the mishandling. that sec bent over backwards to make this deal possible. they revived an old loophole on media ownership limits which would allow sinclair to proceed with this deal. did had to make domestic your even with this modifications and the problem was they did not come up with workable solutions for these to investors. they were trying to sell assets to companies that had connections with the chairman's family. these are not the message is that you come up with under a normal situation and that was what the problem was. the fcc was frustrated and irritated by the things that sinclair took. >> what lessons can other companies takeaway? perception when president trump was elected was

. ♪ ♪ >> from bloomberg's european headquarters, i'm sebastian salek. here is how we are set.o stoxx 600 up about 1/10 of 1%, but setting up for the best weekly gain in almost a month. one of the best performance is the ftse made in italy, closing up 6/10 of 1% on fears of populism abating. the short-term volatility would imply so. .he cac 40 up 3/10 of 1% we see a rally in industrial metals. have a look at some of the individual stocks that performed particularly well or badly. of almost 10%, this is the best day for the stock since 2011 amid first -- strong first-half earnings. this is the debt cat -- cap balance. it is rebounding some 9.5%. oconto, we had a big block trade. 3% lower, but this is barely a dent in the stock. it is the best performing company on the stoxx 600 this year. relatively. let's have a look at your currencies and bonds. .he euro is trading higher some solid german gdp data early on at this is also a dollar weakness story. euro up seven tens of 1% versus the greenback. italian bonds, the yield rising as donald trump said he would consider buying italia

i am sebastian salek. this is "bloomberg." ♪ sebastian: i am sebastian salek.tter's jack dorsey is warning against any move to block content based on political or social views. dorsey told cnn that would increase rising concerns about the power of social media companies. earlier in the week, twitter put temporary limits on the account of alex jones. there is report that female ceos of london-based company's make $4 million less than their male counterparts. there is a 12% gap for basic salaries and that widens to 75% for long-term incentive plans. the groundbreaking movie crazy rich asians was the box office winner in north america this weekend. the first hollywood film in almost a quarter-century with a in the asian cast took $25.2 million. shark thriller "the meg" made $21 million in its second weekend. francine: thank you so much. has saidump's lawyer truth is not truth when discussing why having the aesent interviewed is not good idea. -- the president interviewed is not a good idea. when twoiani said people tell two different sides of the same story it is

we have sebastian salek versus dani burger. >> as talks between the u.s.ook at the yuan and its relationship with gold. it's been coasting off of the trendline but it broke below it for the first time in 18 months. how do you play this? if you look at the technicals, you have gold undersold. you could see a bounce back there. this could be a solid move as we play for these talks. >> i'm looking at global tech diverging. i have the u.s. nasdaq 100 and on the bottom i have china which has sunk. not seeing too much contagion go into u.s. tech but we did have those poor earnings from nvidia so that lott make u.s. tech look a more like china but for now no longer correlated. guy: -- guy: i like the gold chart but honestly, the only thing that matters right now is tech. it's actually fascinating right now and the real driver steams to be the u.s. market and tech trade. absolutely fascinating. i have to go with dani this morning. thank you both. you can find all these charts on g tv on the bloomberg. us.'s it for matt miller's taking the slow build home from

matt: thanks very much, sebastian salek with your world national news.ce and its bailout program and in today after a decade of crises. the country remains europe's most indebted nation, but is now every year surpluses for the last couple years at least. still with us, peter from rbc europe. when you look at greece as an investment case, we were talking about turkey earlier and you can't see investors going back to trusting that country. do investors go back now and trust greece? our investments their sound? -- are investments there sound? peter: i would have to say the amount of bonds that the public can buy is much limited. talking about this massive pile of debt, which is absolutely true. but the vast majority is in public hands in the european hands. therefore, the amount available to the public is relatively small. the upshot really is, when you look at the maturity distribution of greece off of publicly available bonds in greece, it's very much skewed to the one hand. the vast majority of bonds being held by the public sector, they are much longer

danny is going head-to-head with sebastian salek in our battle of the charts. >> elon musk says he wantshe company for 420 dollars a share. the options market is going wild. here i have call options. it's betting that the company is going to trade at four to $20. you can see recently just .esterday, volume skyrocketed before that, the biggest trade for this was about 62 options traded. even though shares right now, last i looked, are about $380 a $420, not at the magical some traders are expecting it to go there. that's very interesting. another way to play what you think is going to happen in this saga. you have a big game to play here. what are you going to bring it? >> i'm going to look at the big picture. this is the s&p 500 closing higher for the fourth consecutive today, just 0.6 off a record high. but look what happened after that record high. it could last. wehnicals suggest that if get there this time, it could be sustained. we werejanuary, overbought. it was overbought for them -- for the most since the 1960's. below this level, you have a little bit of room to run. we could se

let's get straight to bloomberg first word news with sebastian salek. t may have been the worst day of donald trump's presidency. cohen all that named the president as having to pay has money to a former foreign model. his former campaign chairman also attacked and bank fraud. that is considered a big boost to special counsel robert mueller's investigation. president trump's latest remarks on china show concerns that the administration wants to contain the country's rise. china's economy is no longer on a fast-paced to be larger than the u.s. trade talks resume this week. facebook says it has uncovered a new global misinformation operation. for the first time, it named a country other than russia using fake accounts, iran. facebook says it has removed hundreds of pages and accounts that originated in iran and russia. brexit talks are in nonstop mode. negotiations continue today in brussels in an attempt to avoid a no deal brexit. the chief negotiators said the two sides can find common ground. they're trying to reach a deal by october. global news 24 hou