su skye. let's bring keenan with the latest. we have the markets take a hit after reports deputy attorney rod rosenstein could be resigning. it could have repercussions for the mueller investigation and the trump presidency. came out that rosenstein told friends he was talking about recording the president. there is the concern that if you leaves, his replacement could thatid of mueller, and accelerated the selloff. is thehave on this board s&p 500 industrial index. a big loser, having a lot to do where the tariffs sit. the s&p 500 index, a big winner as oil hits a four-year high. let's go into the first panel of stocks. you will see a lot of red on the screen. i will call this tariffs and other woes. an aluminum company and a chemical company in the bull's-eye. woes, and turbine starbucks announcing it will cut jobs and make a significant change to its structure in a reorganization that has investors concerned. another group of stocks, calling them my merger -- calling them merger monday moves. stocks surged three fold to fourf

will get more on that from su keenan. story other half of the other than the ongoing trade war that seem to come to a head after we get this additional $200 billion worth of chinese goods. the volatility continue to play out, this is how were setting up in terms of this part of the story. the lira continue to fall to the weakest in three weeks. declineew continues to despite intervention from the central bank. not a lot of conviction when it comes to the rand, although we do have the economy sinking into recession. the setup pretty lackluster going into trading there in sydney. less dovishollar than expected on comments from the rba yesterday. down when it run comes to the wall street close, the dollar x -- advanced on strong factory data that we had. concerns over facebook and 90 helping push the major stock indices lower. su keenan has all the details for us. even amazon wasn't enough to keep things looking positive. su: it hit the big mark and then fell back a bit. investors returning from a lovely three-day holiday to

here is su keenan with more. su: for most of the day it being like the fed was watched, wait and see. then the decisions come out, it's what everyone was hanging on. let's take a look at the market reaction. usually the stocks fall and the yields fall as well. these were unusual times. let's go to some of the big movers. , analystsaw was gopro saying they have new products out, nike beating, very impressive, and quickly to some of the other big movers. , surveymonkey took off with a bang. schlumberger falling with oil, brent crude coming off a four-year high, and u.s. oil actually declining and rallying after hours. that had a lot to do with the fact that the -- you saw the big stock at the top, it's a , the new drink marijuana high in terms of rolling into these stocks. haidi: thank you so much for that, su keenan. coming up next, french president emmanuel macron says he won't do a trade deal with the u.s. unless trump respects the paris accords. more from that interview, next. this is bloomberg. ♪ haidi: it is 8

we will get more from su keenan on that. let's flip up the boards. aside from trade, it's also about em, and em contagion is the word spreading to more countries. we can see the south african rand, 15.3 to the dollar. hitting the surprise recession, the country noticing it can downgrade it to junk status. as for the argentinian peso, that's a record low. falling.sh lira we were talking about hopes that the central bank could hike. now we are talking about fears that the central bank might not. yvonne: as you mentioned, the u.s. finally catching this em cold. a wild start.ng equities pretty much flat on the nzx 50, but we are seeing equity futures heading lower. asx futures down .3% right now. flip up the boards and take a look at currencies, 20 year lows on the indonesian rupiah. 111,r-yen holding around . 55 u.s. cents for the kiwi at the moment. the bond market, no flight to safety and treasuries. we did see selloff across the board. the u.s. 10-year note ticking up overnight. jgb yield at 12 basis points after the boj insted its bond buying septem

su keenan there for us in new york.berg users can interact with charts using the gtv function. have a look at the charts we -- have beentring featuring. you can save them for your future reference. this is bloomberg. ♪ this is bloomberg. ♪ haidi: this is bloomberg. ♪ let's get you a check of the latest business flash headlines. forward optimistic after a month of underwhelming cells from automakers -- sales from automakers. a gain of 4.1%. analysts expecting a decline. of thextended deliveries accord, slumping 11% last month. mercedes-benz and bracing electric with its first that are he powered car in a direct threat to tesla. going "allcompany is in." they had expected to invest $12 billion, but said spending had gone beyond that number. backing out of china has car buyers prefer larger sedans and suvs. it has agreed to transfer its entity that another will continue to make suzuki-branded vehicles under license. rishaad: as we look at prospects for the open, the hang seng off by .2%, futures for china also lower.

su keenan is here to run through all of those highlights. know the president canceled his holiday plans to focus on trade issues. there's been a lot of tweets coming out. this could be a week of headline risk. there has been a tweet regarding the syria's president, a criticism of the u.s. attorney general, criticism -- the dollar has been holding steady. bonds expected to be in focus this week. we have got a number of options. the futures were up on monday. we did not have trading. oil above 70. let's go into the bloomberg though,cause -- ho because the holiday cheer -- there is a technical view that a bull market after labor day will see stocks continue to go higher. if you look at this chart on ' target hasysts steadily climbed. the blue line is analyst estimates continuing to go higher. that also suggests we could have a strong end to the year. however, a lot of general theorists say september 10 to be a bad -- tends to be a bad month for stocks. let's look at social media in focus midweek, tomorrow, wednesday, as we have the heads of all

and china. >> su keenan, thank you so much for that. south korean president moon jae-in heading for pyongyang today with nuclear talks on the agenda. we will be in seoul. >> plus, how the corporate banking sector is dealing with global challenges including this ongoing trade. our exclusive interview with a jpmorgan representative is next. this is bloomberg. ♪ ext. this is bloomberg. ♪ shery: this is "daybreak asia." i am shery on a new york. haidi: i am haidi stroud-watts in sydney. it begins in singapore today. they represent a collective market cap of over three point five trillion dollars. let's get over to juliette saly, who is with the firm's global head of corporate banking. juliette:- absolutely. we have just been discussing the latest developments in the tit-for-tat trade spat between the u.s. and china. they give so much for joining us. it is kind of exhausting keeping up-to-date with what is happening in the u.s.-china trade relationship, but we have heard the new round of paris will come into effect on september 20 fourth. ho

su keenan joins us with the details. we getthe top story as that battering from hurricane florence as well as the sanctions on iran. ahead of thee supply report on wednesday, but let's get right to the market close. again, it was a search for the afternoone in when we were higher across the board. big push from energy related shares. notice the nasdaq 100 has the biggest gain of all, the highest concentration of tech stocks, so you see the gain there. let's get into some of the other moves on the market. again, we noticed the surge in yields on the two-year, which is the most sensitive to interest rates. the fed is going ahead with its pash to raise rates. also notice oil near $70 once again and with a bullet is what a lot of analysts are telling us. we get to the fang stocks -- f aang stocks, and it was a rebound ahead of the iphone rollout. to be able to rebound from that selloff. it goes to second-quarter earnings, he says, which were exceptionally strong. get rid of the trade headlines, and the market wants to go hig

bloomberg's su keenan joins us now, the equity rally seems to be broadening? : yes, in fact, the dow is one of the last wants to make it record high. there was concern about some major diversions, but strategists do one about trade risks. the bondr weakening, yield holding above 3%, a big story. the the s&p banking index had a big gain and continues to be a leader in the come back. the nasdaq 100, the top. tech heavy index is also a big back.f the come the libor is another part of the story, you saw what some are calling a catch up as the libor u.s. dollar index liked as traders in the u.s. are seeing for rate hikes, two more in store. that is considered a catch up -- they are seeing 4 rate hikes, with two more in stores. amazon, announcing that it is increasing its home voice technology throughout the home, that will impact or provide a rivalry to sonos home audio systems. autodesk got a big upgrade on lanco'sargets, and e animal health ipo was also well received, it is phoned by eli lilly. wells fargo also announcing they will cut 5-10% jobs over the next thr

su keenan in new york.up next, we are counting down to the bank of japan survey, expected to show corporate sentiment hitting it ceiling. this is bloomberg. ♪ coming -- counting down to asia's first major market opening this morning. japan futures looking higher. maybe taking a lead from the u.s. i would have to say the weaker yen has certainly created optimism around where the index can go in the next quarter. we are also waiting for the survey from the bank of japan. large manufacturers, small manufacturers, what it tells us about where the japanese economy is now and where it may be heading. this is "daybreak: asia." i'm kathleen hays in new york. haidi: i'm haidi stroud-watts in sydney. we are moments away from the bank of japan's survey. the third quarter expected to show corporate sentiment broadly hitting something of a ceiling. and with the rising risk coming from trade and the fallout from the natural result -- from the natural disasters. another typhoon on tokyo. the focus is whether the outlook a

su keenan the latest. markets were able to keep their cool. it seems like we'll must follow china in terms of shrugging off what many thought would be a big flap on the market. analysts point out that weaker tariffs and a small amount of goods being under tariff by china could indicate a tapering down of the trade dispute. let's take a look at the market snapshot. the dollar was in focus here and bonds. note the yields on the tenure bond back above 3%. that is something that is closely watched because it triggered a big selloff earlier in the year. pretty decent gains. what is important to note is that over on the right-hand side, this is the jpmorgan global volatility index declining. you see that and here with the white index, which is the vix, declining in this latest market. let's look at some of the big movers. macron getting a big move higher , one of the analyst says they -- this is the pot stop that continues to move higher. it has exceeded of $14 billion valuation and it was only ipo just two months ago. it now has a greater market co

su keenan has the latest. >> we have corporate news, a new round of earnings. we also have some economic data, strong retail sales expected. let's go right to some of the stocks in the spotlight. because apple is coming out with a new iphone that usually grabs the headlines, but instead it is about the suppliers. they are likely to be in for some tariff trouble. there is also warning they could get heat. spotlightks in the had to do with major news about the company or the ceo. tesla remains in the spotlight as there are concerns not just about elon musk's ability to lead tesla, but also spacex, --er he was found what does the company look like without jack ma? and there is speculation that try and funds will targeted for takeover. probably it is a different company, not kimberly-clark. we will see how that trades on monday. in terms of the markets, right to the nasdaq 100, the heaviest tech index. it had its worst week since mark. cr -- since march. trade policy uncertainty is the title. stock investors to not seem to care as the s&p 500 climbed, but the uncer

bloomberg's su keenan has the latest. concern has been, we will we see the selloff we saw with equities? su: that is a concern. banks were a big leading gainer in the market and i. there were concerns expressed by market strategists that this market continues to shrug off trading concerns as a negotiating strategy. the dollar unchanged in after-hours, but showing weakness in the after session. the yield above 3%. that is a key level. you will note the s&p 500 banking index showed a big gain. own,tech heavy nasdaq was d as was the nasdaq. the only major benchmark in this major day of trading. gtv is where you can find our library of charts. notice this green block here. these are the leverage funds net dollar positions. it is starting to come down. one of the big hedge funds is warning the next step may be for investors to pull back on the dollar. let's go into the big movers of the day, banks, as i mentioned. deutsche bank getting a very big jump on the day. take a look at some of the other big movers. you will see amazon,

that was su keenan in new york. stephen engle is watching the next story. what is going on? steve: nothing in place for the circuit breaker. we are in a cycle of implementation and retaliation and that escalation. implementation, the next round of tariffs is likely to comment new in hong kong time. that is midnight in washington dc. so less than five hours from now, the u.s. is likely to impose new tariffs on $200 billion of additional chinese goods to the u.s., that would be $250 billion in total. almost last of last -- almost half of last year's imports from china. say they will do this on $110 billion worth of goods from the united states to china. that is 70% of the total u.s. sales to china. as you mentioned, china has indeed called off any proposed talks that steve mnuchin and others from the white house have proposed for the latest round of talks. the growing consensus in beijing is that they are not going to sit down and talk, or at least trump will not necessarily be in a conciliatory mood before the midterms. we have a few more weeks of pain. that is where we lead

su keenan has the latest. cbs, there are fast-moving details.t you saw with cbs is in july the new yorker first moved six allegations. that is when negotiations began package.t les moonvess contractvery unique that $50 billion we need to be paid to cvs if he left before the natural ending of his contract. if he left before the natural ending of his contract. but now the new yorker has removed and others story with its more women coming forward. 12 women total with very serious allegations of sexual misconduct , physical assault, sexual and in therassment, latest story, allegations from a number of women on a culture at allowingrk that was sexual misconduct and harassment to continue. cbs is reacting quickly. word was the announcement would come monday. it has now come at this moment itt the ceo is leaving and that a interim cbs -- ceo has come. this stock will be on the move when we open on monday. >> implications for the viacom saga. is there more clarity over the shareholder battle? >> there was a strong move between sherry redstone who had op

su keenan has been looking at the latest market action. there is a sense that the market wants to relentlessly push higher ir investors have -- or investors have -- kathleen: we are seeing the correct assessment that there has been ratcheting up of the trade talks, but that the size of the tariffs from the u.s. are less than expected and the byunt of goods tariffed china are less than expected. it could mean there is a de-escalation in the works, and that is definitely a positive for the market. look at the nasdaq 100, the most heavy concentration of tech and the stocks are semi--- and the semiconductor index, strong. volatility is the name of the game. our chart that gtv. look over here. a big drop recently. this is the jpmorgan global volatility index. the vix shows there has been a reigning in. look at this. earnings played a role. positive reviews. it may have a buyback in the works. continues to have an outsized valuation. $14 billion valuation. that's after only two months post-ipo. yes, fedex and general mills, disappointing on the

let's bring in su keenan with the latest. had controversy over rod rosenstein possibly resigning. we have speculation of who could take that role. abc news is saying matthew whitaker, a former u.s. attorney, could be a possibility. mas in these political dra washington playing into the markets. su: that is real drama because if trump were to replace rosenstein, what you would have is a possibility the whole mueller investigation could be called off. that would be a big turning point in history. let's go to the snapshot and focus at the bottom, the s&p 500. the big mover of the day directly impacted by those tariffs, the s&p energy index a big winner, impacted by the rise to four year highs in oil. tariffs and other trouble. aluminum taking a big drop. not just because of the aluminum tariffs, but part of a problem in the industry is a big old up and supply. andnt down 1500 chemical plastic imports were targeted by u.s. retaliatory tariffs from china. dupont right in the bullseye. ge down to a nine-year low. looks like they are going to lose a bidding war on a contract for a power

su keenan is watching this.are pretty, and the east coast, so how bad could this one get? this one is being looked at as very dangerous, for this part of the country, potentially the worst in decades. we see them develop, but they really get to this strength. that strength and speed of this is changing by the hour, now poised to become the strongest hurricane in a most 30 years to hit the carolinas. you can see we have a couple of storms out in the atlantic and in the pacific, that is rare. one is a category 1, 1 is a category 3 and the other is a tropical storm. the one in red is hurricane florence and the speed is about hour.les per if we go and look at the pictures, people are getting ready, early stages of development for this storm but there are already mandatory orders of evacuation. the outer banks of the carolinas virginia.n the richmond mayor has declared an emergency, so people are really getting ready and already in stores, purchasing anything to do with supplies and even rebuilding materials because

good place to end it jim keenan, black rock's chief investment officer take a look at tesla shares, the worst day in five years on news the securities and exchange commission is suing ceo elon musk for fraud seeking his removal from the company it stems from musk's now infamous funding secure tweet. the senior analyst at bernstein joins us now on the phone. toni, welcome back >> thanks for having me. >> i was very surprised. i picked up your note and saw the same price target no change. how is that possible >> look, this story is still very much unfolding. as of yesterday we could have had potentially a settlement we'll have to see what the new chapters are we do believe this is an incremental negative overhang on the stock because there was a settlement opportunity ostensibly and it didn't happen. ultimately there is some risk that elon may not be able to operate in his current capacity in a go forward basis. and the challenge not only does that risk exist but if musk ultimately chooses to fight it, this could take years before we find that out. and that overhang will remain. and so that's clearly an incremental negative we're still learning more about this as the