taylor riggs taylor: tackling the immigration crisis. the federal reserve releases results, and companies find themselves in the crossfire. >> in the trump administration, you can go from poster child to piranhanto -- toronto in a new york minute. >> they will have an impact in the long haul. >> we think demand the world needs everybody to be a part of that energy mix. taylor: ray dalio shares insights into the economic scene. downturn, ive a think it will be difficult. taylor: and the prime minister's of malaysia and greece speak exclusively to bloomberg. >> i do not believe in absolute free trade. >> the most important thing today is that this is the end of it uncertainty for greece. taylor: this is all straight ahead on "bloomberg best." ♪ taylor: hello and welcome, i am taylor riggs. this is "bloomberg best," your weekly review of the most important business news and analysis from bloomberg television and around the world. on monday, investors walk to the to theke -- awoke results of the presidential election in turkey. >> he won a m

it was taylor riggs taking the level three cfe exam. iled right now or will you wait for the test scores? taylor: we will wait for the score is. but the problem is now that i do not know what to do with myself. tom: you have been a zombie since february. taylor: thank you for the embarrassment. tom: congratulations on the exam taking. it is a right of passage. -- rite of passage. francine: companies in the european union are not thrilled at the status of the brexit discussion. britainn one third want penalized in a future trade deal. the report gives a rare insight fromthe brexit situation companies outside of england. what do we do with brexit? how do you price it? kallum: the pound is capturing formarket's expectations all of the scenarios that could happen. that would range from a no brexit to a very hard brexit. less than 1.5%. the risk of a hard brexit seems to be holding the pound down but i think the u.k. is heading to a situation where it cannot make up its own mind and eventually european union at the last hour will offer the u.

taylor: and i am taylor riggs. ahead, a look at why online merchants are still struggling with fraud. jason: in a different crime, crimes that built one of the most ambitious museums, and an outdoor museum in brazil. taylor: i want to go over to the technology sector. a big deal happening in the mma space. jason: $7.5 billion for this company that is a playground for developers. taylor: a playground for the ceo. he changed his stamp on how he feels about the open source software. jason: carol massar and i caught up with our tech guru for more. github commoditized something that is a really important thing to developers, developers get very excited about it. i'm sort of like oh my gosh, i can have an unlimited storage. i store a lot of my personal data there because it is a good tool. it probably had a chance at one point to make it into the way that we do files in the future, but it kept us focused on developers. that is a microsoft came in and bought it. carol: how come we knew about the knicks -- linux but not abo

i am taylor riggs. jason: i am jason kelly. we are at bloomberg headquarters in new york. taylor: one of our favorite tories this week, justin trudeau, canada's prime minister. we spoke about how he is navigating negotiations with president donald trump. jason: trade on the forefront, we also go global with one of the most listened to voices on business and economics mohamed el-erian, and he tells us what to be worried about and what not to be worried about around the world. taylor: with our cover story, some say toys "r" us and others say tears "r" us. jason: that's right. this is a deep dive into the world's most famous toy store. taylor: and some saying why they didn't have to declare bankruptcy. carol massar spoke to a reporter. carol: toys "r" us was really one of the first of the big box stores. it started in the late 1950's but came into its own in the 1970's and 1980's. started by charles lazarus, who had a simple idea. a lot of people were coming home from world war ii, he served. they were starting families and were going to have kids and they wanted homes and wan

right now, in new york city, we have taylor riggs. house economic adviser says don't blame president trump for the trade crisis. rule breaking is going on all over the place in the president is responding. i -- and joel -- to 4%,re going to close before the crisis, and this has the potential of slowing down the recovery because it hinges on the level of confidence. >> his allies are headed for a showdown with president trump at the meeting in quebec. mueller made a fun the limits of presidential power. asserted an almost unlimited right to halt investigations and issue pardons in still, rudy giuliani admits, pardonsdent trump himself, it would probably lead to impeachment. the trump administration is set to announce a compromise on biofuels today. it will tan down costs for refiners. eight is a big issue for makers -- for lawmakers. in italy, the new government faces confidence in both houses of element this week. the slim majority in the senate could face a risky road. global news 24 hours a day, on air and on tictoc on twitter, power

i'm taylor riggs.s is "bloomberg best," your weekly review of the most important business news and analysis from bloomberg television around the world. monday, investors awoke to the results of the presidential election in turkey. >> rested tayyip erdogan won a mandate to government sweeping powers after a victory in presidential and parliamentary elections. the nation's longest serving leader took 53% of the vote. what does it mean for the turkish economy going forward? >> it is another critical step for president erdogan who has been in power for 16 years, and that power.o extend in the first round, the expectation was it would go for a second round but that did not happen. there were claims of vote manipulation. we will see what kind of measure s the election commission takes , and will be done about economic policy, will the expansionary aggressive easing and more towards reform and austerity measures to rebalance the economy. >> on friday, treasury secretary steve mnuchin is due to release new res

i am taylor riggs. this is bloomberg. tt: taylor, angst very much for that -- thanks very much for that. as global trade tensions increase, our washington and beijing on a seemingly inevitable collision course? fell&p 500 and the u.s. the most in almost 12 weeks yesterday on concerns about this budding trade war. the international ceo at goldman sachs asset management told bloomberg that there is now fear that rhetoric is escalating into something of real consequence. >> now i think investors are more cautious that there may be something pretty substantial done by the u.s. that generates a reaction from china, from the eu. it is that reaction and that potential tip for cap -- tit-for-tat that could go on the has people more nervous. matt: let's get more now with our chief asia economics correspondent. what is the latest on the escalating trade frictions here? some kinding to see of investment restrictions on chinese firms in the u.s. -- are we going to be seeing some kind of investment restrictions on chinese firms in the

here is taylor riggs.he trump administration stepped up its war of words against canada, even as the foreign minister condemned insults aimed at justin trudeau, while germany and france criticized the comments. white house trade advisor peter navarro's personal attack on trudeau came in the wake of tweets from president trump. >> there is a special place in ll for any foreign leader that engages in bad diplomacy with president trump and then tries to stab him in the back on his way out the door. that is what bad faith justin trudeau did with that stunt press conference. china has reaffirmed its claim to be a free trade leader, criticizing what xi jingping calls shortsighted policies. speaking at the shanghai cooperation organization, his message was in contrast to the disarray at the g7 summit in canada. he says the world must maintain the rules of the wto, support multilateral trade, and build a open economy. in singapore, donald trump and kim jong-un are preparing for tomorrow's global summit. they flew

'm taylor riggs.berg. tom: thanks so much. a new answered kind of day. -- a new aunsed kind of day. euro, churning but yen weaker. an odd day all in all. 24,117 is almost a correction stage on the dow. we're not quite there yet. you see this in a 30-year bond. 298, 297. a lower yield and a higher yield in the last day or so. but the 30-year bond showing the oddities. the rupee a weakness. francine? francine: if you look at stocks, they are struggling a bit. a little bit of pressure on the emerging markets. i think investors are trying to continue to understand what america's strategy toward chinese trade and investment means for global growth and inflation. and also getting breaking news out of the euro area. economic confidence for the month of june. it has fallen a little bit to 112.3 but still a little bit better than forecast. tom: we have shown this chart before. we have shown it on turkish lira. the white line is brent crude in u.s. dollars. the orange line is the indian rupee. you really can se

here is taylor riggs. at the country's prospects for long-term economic growth. was answering questions on the tv call in show. he said russia is moving in the right direction and said the country will not introduce a sales tax. it is putin's first live television program since he was in march. china will increase imports if the trump administration meets it halfway. the chinese ministry of commerce said the two sides had deep and detailed talks on farm and energy products. is anrease in imports established strategy. has his own agenda when he meets president trump today at the white house. the u.s. to press on the return of japanese citizens. global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. tom: thank you so much. doubt 25,000 data check. it is an unlovable market. again today. dow futures up. euro put some strength on. next screen. the vix with a vengeance. indication of what is

i am taylor riggs. this is bloomberg. francine: thank you so much, taylor.sia. it is a central bank decision. for the moment, the central bank 7.5% -- the key rate at 7.25%. there is not much of an impact on ruble. they may think twice about the next cut down. tom: very good. gideon rose is with us and william lee of the milken institute. bill, you spend a lot of times looking at -- time looking at rates. also, on where the money is moving now. you are an expert at this at citigroup. what are the capital flows flowing into the summer of this year? >> what is strange and great right now is that the u.s. is still a bagman it for global capital -- magnet for global capital. investment flows, even if you look at the number of listings of firms on the u.s. stock exchange, foreigners are more check it to hear than other -- are more interested in the u.s. than other stock it changes -- stock exchanges. this is where the opportunities for investment are. if we are going to have dollar strength, what kind of dollar strength would be, given -- flows?e that flows >> we

here is taylor riggs. backing north korean sanctions economically and says there has been no change to put maximum pressure on kim jong-un while reparations continued for the summit next week. a spokesperson said sanctions will stay on north korea unless it gets rid of its nuclear weapons. a key republican senator says congress will not have time to approve a new north american free trade agreement this year. john cornyn says it looks like negotiators from the u.s., canada, and mexico, are close. john cornyn said the trade negotiator robert lighthizer has kept lawmakers out of the loop. the first public test for the new italian prime minister, giuseppe conte, to makes his first speech to parliament today , lawmakers and the public want to see if you can navigate between the competing demands of the populist leaders who got him appointed. the five-star movement wants state subsidies for the poor while others want a tax-cut. the ceo of qatar airways says only a man can do his job after becoming chairman of th

here is taylor riggs. ent trump has signaled he may take a less confrontational path to curbing chinese investment. trump's comment appeared to align with steve mnuchin's onroach, potentially relying a u.s. committee that scrutinizes foreign acquisitions for national security rests. saudi arabia plans to pump a record amount of crude next month. bloomberg has learned the state oil company wants to produce -- wants to increase production and allied -- in july. press allieswould to cut its import from iran by zero. bloomberg will be speaking with the ceo of bp. eu countries will block any attempt by the u.k. the combined single market membership with immigration curbs after brexit. told bloomberg that smaller european countries would powerful, but the most ones, including germany and france, would not. do not miss our exclusive interview with the prime minister of greece. action,'s world cup another two groups reached their conclusion. both brazil and germany are playing. argentina graduated from the group st

i'm taylor riggs, this is bloomberg. thank you so much, taylor. g7 last weekend, the u.s.ments with china and allies in europe on nafta. what is the outlook for global trade and the economy? joining me now is howard davies, chairman of the royal bank of scotland, he previously served as the first chairman of the ffa and director of the london school of economics. thank you so much, you always make us smarter on international things. what do you make of the week that was? the summit? world growth? it feels we are at a turning point and yet markets could be complacent? we have relatively little business in north korea. that one i can leave aside. the fed move has been interesting. particularly what the fed said about trade. that they had not seen an impact yet of the nervousness, which we all feel about the possibility of a trade war. yet, there is no sign of that appearing in the u.s. numbers, as they say, much more robust. even the news from china doesn't look particularly good, the chinese demand and output is falling. there is a bit of a puzzle. u.s. racing ahead, eurozo

here is taylor riggs. xt week's summit between president trump and kim jong-un could lost -- could last two days or two minutes. the white house once came to get rido a timetable to of his nuclear arsenal. if it does go well, the president could invite him john on to florida. bloomberg has learned that china has agreed to by $25 billion more of u.s. goods this year, among them, oil, coal, and farm products. meanwhile the chump administration -- meanwhile the --mp administration -- z de zte was cut off for violating a finance agreement. leaving -- thes head of deutsche bank is leaving and the new ceo is scaling back in the advisory and underwriting business. he has also promised to cut the number of senior executives. itsi arabia is underscoring eagerness to strengthen its ties with the trump white house. jointudis will support a bid to host the world cup in 20 to 26 -- in 2026. morocco is the only other contender. isunited states of america one of the oldest and strongest allies of the kingdom of saudi arab

let's get a news brief with taylor riggs.ays there is no longer and nuclear threat from north korea. the president is in the u.s. after the meeting with kim jong. he said everyone can feel safer than t day he took office. said the president promised to lift economic sanctions. the is at odds with president's comments that the restrictions would stay in place until north korea agreed to give up its nuclear arsenal. warnedmueller intelligence services are still meddling in u.s. elections. certain evidence could hurt ongoing investigations. one of the companies charged with election meddling once the evidence to help with its defense. the iaea warns iran an venezuela could lose 30% of their oil output next to because of u.s. sanctions and economic upheaval. the iea said that would require extra output from members. opec meets next week to debate whether to restore oil production cuts. a surprise from soccer's world cup in russia, spain has fired s begin.ger one day be spanish authorities were upset that he was just named the new

this is "bloomberg businessweek." ♪ taylor: welcome back, i am taylor riggs. n: i am jason kelly. you can find us online and on our mobile app. taylor: opening up the remarks section, we got to speak with one of the most influential voices in global economics. advice heasked what would give policymakers around the world. here is what he had to say. >> we have had years of distorted markets. we have had massive liquidity come into the marketplace, it has felt really good. look at last year, over 20% returns in global markets, we even mades, money on government bonds and all of that was very low volatility. that is not supposed to happen, but it did because we have exceptional circumstances. now, we are slowly exiting exceptional circumstances and it will take some time for markets to realign themselves to more normal patterns. >> one of the phrases you used new the top of this piece, and i too many years, " of insufficiently inclusive growth does more than undermine economic performance and potential, it tears at the fabric of society." that is a pretty sweeping

he'll to ask -- here to explain more is taylor riggs. taylor: joining me is laura porter.reat to have yo very timely. just in theas few hours you sent out a report on the mounting pressure on state and local government budgets. we hear about this a lot better at the end of the day state still manage to get their budgets together. what is it specifically about your report this year that makes you more nervous? laura: our report is focused on longer-term trends. tatesyou think about how spend their money it is primarily education and health care. the percent of the budget spent on health care hlly grown. the report we put out today has a scenario where about half of the state budgets could be spent on less flexible items in a 10-year period. that leaves you with more mandated spending and an ever smaller amount of discretionary spending. sometimes less of that spending can lead to downgrades. e you coerned about downgrades due to budgetary pressure? laura: we see the u.s. state credit aamong thstrongest we rate. of the primarily bec extraordinary independent power the states

joining us with more is taylor riggs. are luxury, a luxury furniture maker that wants to differentiate themselves versus on amazon or wayfarer, much more focused on value. share, andngs for about the guidance, it is about future guidance, much higher. up versus eates. breaking the six dollars barrier mark on earnings-per-share. going into differentiate themselves. what is helping them is that is improving margins. so much is a margin story. when you talk about margins, they said we will restrain ourselves from changing low quality sales at the expense of profitability mike so many others in the industry. many others in the industry. a time in the quarter historically week for them. -- weak caroline: talk to us about the transformation, the focus on bricks and mortar, you talked about amazon and wayfair, what about the physical presence? retail so much about the apocalypse, you cannot have a retail presencee ne a goob of turning around their stores and expanding the current locations versus going into new locations. and ut

joining us with more is taylor riggs. taylor: i did not know what pillpack was.rivate company, so we don't know much about the deal. they raised $122 million in private funding. we have not independently confirm that amazon has purchased it. they are an online pharmacy that males presorted prescriptions. presortedils prescriptions. we did talk to analysts and our health care reporter and they are saying it is interesting. this is the last frontier for amazon. it is the only sector they have not gone into. we know they have set up the groundwork to layout getting into the drug distribution and pharmacy business. this sort of feels like their big push into the last sector where they had not gone before. we spoke with a jefferies analyst as well and they said they would not expect much antitrust issues because this will help consumers because the way that drugs are distributed is a broken system right now. caroline: and that is what is it istries to solve trying to fix the broken system that is drugstores, making it more efficient with pills. talk about the competit

joining us is taylor riggs. it had to do with merchants. taylor: the u.s.claimed amex thwarted, edition by prohibiting merchants from steering customers away from using credit cards with lower fees. thatrolled in the 5-4 case the government and 11 states had harmedto prove that amex cardholders and merchants as well. i wanted to look at the merchant discount rates. this comes down to fees, and a mex has higher fees than some of its competitors. discount ratege that is the measure of fees that amex charges its merchants. they are looking to increase the merchant acceptance rate. that will be key. u.s.illion active merchants. sort of the post-poll -- push -pull dynamic for fees and the acceptance rate. caroline: discover card services got a little bit of a blow. it would undercut, therefore, the ability to compete. taylor: really worried about their ability to compete as well. you can see that shares of fees and mastercard are falling interaction to the announcement. near-term negative for them, the dichotomy in the push-pull of the acceptance vs. having the

david: time for a check on the markets with taylor riggs. ylor: major averages making gains throughout the morning session, 1% on the dow to a large cap score. nasdaq up six cents of 1%. -- .6%. nasdaq tech heavy index doing well. another big story is the financials. today with the best day since june 6 because of the fed stress tests and generally positive notes. individual members within the stress tests, one we look at ,ells fargo, up more than 5% the clear winner after being in the penalty box by the fed for so long. bank of america could say this could reignite a bid for the banks. nbi makingex, the gains in parts because of celgene, the second biggest mover in the biotech index, they had a trial for a red blood cell drug and more likely to get fda approval. a macro note, we want to talk about oil and the dollar, oil is rising, having a very good day for oil as u.s. output is clearly being met with demands. that is pushing the dollar lower , falling its most since may. shery: thank you, taylor riggs. coming up, dollar trump celebrated si

taylor riggs is there and joins us with an analyst. taylor? taylor: a lot of pop and circumstance going on behind us with news happening. we just heard from the head of u.s. walmart and joining me to break this down is the morgan stanley analyst who covers walmart. great to have you. we just had earnings on may 17 and we wonder if there is anything new? what are you looking for out of this meeting? >> walmart as two meetings with the investment community, october analyst day and shareholder meeting. this is not usually be revealing meeting which is usually october. the year is finishing up and looking at the outlook for the next year as strategic planning, that is when you get the preview . now is a strategic update, the year is in place. two things we got from last year, they signaled they would focus on expenses. they talked about how it was important to reduce expenses and he was telegraphing the fact that the cost of business was rising and they needed to focus on expenses. the flip card deal is big this week, talking to executives about i

. ♪ taylor: hello and welcome, i am taylor riggs.s is "bloomberg best, your weekly review of the most important business news and analysis from bloomberg world.ion and around the on monday, investors walk to the results of the presidential election in turkey. >> he won a mandate to government sweeping powers after a victory in presidential and parliamentary elections. the nation's longest serving leader took more than 50% of the vote. what is it mean for the turkish forward?oing >> it is a critical step for the president to has been in power for 16 years, looking to extend power.y with even more the first round committee was able to seal the deal, and the expectation was that it would go for a second round, that did not happen. there were claims of water manipulation, we will see what happens. now the conversation is whether this government will move away from the expansionary and aggressive easing, and more towards reform and austerity measures to rebalance the economy? >> on friday, treasury secretary steven mnuchin and will releas

let's get the first word news with taylor riggs. ld trump has signed "a very important document" with north korea's kim jong-un. the letter said kim's government would work toward the complete denuclearization of the korean peninsula and commit to a lasting peace. after the one-on-one meeting, donald trump is scheduled to hold a press conference imminently. i think our -- whole relationship with the korean peninsula is going to be a much different situation than it has in the past. we both want to do something, we are going to do something, and we have developed a very special bond. taylor: donald trump's top economic advisor has suffered a mild heart attack. the u.s. president tweeted that larry kudlow is in hospital and the white house says he's doing well. kudlow has been a long time confidant to trump and accompanied him to the g7 in quebec. the acrimonious meeting ended with kudlow backing up the president's irritation witsome of america's traditional allies, most notably canada. the imf managing director christina lagarde said

i am taylor riggs, this is bloomberg. francine: thank you so much, taylor.of banks are calling for a return to emerging markets investors are searching for chief -- chief assets amidst concerns of a rising dollar. securedd, argentina has a $50 billion arrangement from the imf to help restore investor confidence, so what is in our emerging markets? -- are ourus on guests. used to talk about structural reforms, now it is the fact they've issued a lot of debt. there has been a lot of investment into these emerging clearly investors have been reflected about markets, given how well markets have done. i think, you know, there is still good value, particularly in the asian markets. where they have had reformed economies and are less reliant on external financing. but some countries are relying on external financing, and the current backup is challenging. francine: asia, in india or indonesia, bonsai, currency side, equities? mark: i think all our attractive. but you have to take a long-term view, accommodate volatility. if you say a long-term view, there is value

i am taylor riggs. jason: i am jason kelly. we are at bloomberg headquarters in new york. of our favorite stories, justin trudeau. we spoke about how he is navigating negotiations with president donald trump. jason: trade on the forefront, we also go global with one of the most listened to voices on business and economics mohamed el-erian, and he tells us what to be worrie

kicking things off, taylor riggs. taylor: lucky number one.your conversation with alan higgins of coutts. in blue you have the dollar. we have a stronger dollar story since april and that is relative to what looks like a negative one correlation in white to the msdi emerging markets index. you have heard about turkey, argentina, the rand getting crushed, all of these kind of brazil coming to the forefront. with the fed decision next week, if you continue to see a stronger dollar, what does that mean for emerging-market equities? we spoke with gabriel at santos and j.p. morgan asset management this morning and she said behind the headlines, fundamentals look strong and maybe this is a buying opportunity. julie: we shall see. let's turn over. a stockve]y alcoa, just chart of alcoa in 2018. a lot of people thinking maybe they will benefit from these tariffs on aluminum. they are down 8.5% this year. they were Ñ! bunch of other aluminum companies in montreal. they were at a conference this week in chicago. they actually produce more aluminum in ca

. ♪ ♪ >> let's send it out to taylor riggs in new york. or: peter hayes is that of a municipal bond group. may and weping up take a look at performance and we saw a rebound. they are outperforming relative to treasuries and the five-year average. what sort of buying this new performance? >> 20't been a typical year, especially what you would expect in municipal performance. when you actually look at that average and you look at month-to-month returns, we have done the polar opposite of what you would expect. january is normally a big up month and we were down. i think -- may we outperform. i figure was a several factors. we had rates which went lower. for the middle of may to the ofsignificantly lower and 10 year treasuries peaked. whiad fairly big supply you think would sometimes be a headwind and it wasn't. demand was very strong. the value of municipal post-tax reform. a couple of factors led to a strong may. season this is always a where we look at supply and demand factors. supply is usually light which leads to outperformance. you thi

first, here is taylor riggs. ingapore, president trump and kim jong-un have signed an agreement promising peace. there is no timetable for north korea to carry out the promise of denuclearization. placeic sanctions stay in but president trump scrapping the military exercises with south korea. pres. trump: we will be stopping the war games, which will save us a tremendous amount of money, unless and until we see the future negotiation is not going on like it should. taylor: president trump said kim agreed to return the remains of soldiers killed in the korean war. larry kudlow has been hospitalized for a mild heart attack. a white house spokesman woman -- spokeswoman says he is doing well. prime minister theresa may faces crucial votes on brexit. the brexit bill is headed back to parliament and pro-european lawmakers are threatening to vote against her. the key issue is an amendment that would give parliament the power to direct brexit negotiations if they reject the deal that may lance to bring back from brussels

joining us now with more, taylor riggs. >> this is all about a margin store. the problem was down on the earnings per share. if we look at margins you see the problem in the first quarter, margins fell, it will capture that operating costs there. down to 35%. a margin compression story that has analysts worried. , g tv ,resting they are not the first company to talk about rising shipping. which is what is hurting them. those companies are charging an extra 30% for those long haul roads. kellogg, tyson, and constellation brands. this as you can see, really affecting them. want to solve it has per tatian problem, they are trying to diversify into a marijuana company. it is been successful. other companies looking at the road to create a marijuana infused beer. julia: there's always blockchain. >> marijuana has done pretty well. the market closes next. here are the major averages. less than four minutes to the close. we are taking a leg down into the close. this is bloomberg. ♪ from some ofk their gains. every are tuning in live, weekday from 4:00 to 5:00 eas

taylor riggs joins us with more. that is up explanatory. taylor: we can all go home now.dding, i will walk you through a little. the guidance was about the revenue. they have done a good job in saying the revenue growth has with earlier projections of 24%. and now raising the transaction fee to 5%. every time a customer made a sale, it was 2.5%, and the art including shipping costs -- there are including should because they are doing a good job of raising revenue and not -- thereheir revenue margin costs. they are adding a premium brand for different businesses and analysts say this will lead them into more momentum. we have the share prices of the ipo hurt a little the first year, but then it increased the next year. analysts say the changes that they made will accelerate the company and increase their growth merchandise sales to 19% this year. caroline: record high for etsy shares, tliv for breaking it down. meanwhile, stocks are rallying in europe with the euro having its biggest move in eight months. it is a dovish ecb. this is bloomberg. ♪ mark: there is 30 minutes l

i am taylor riggs. jason: i am jason kelly. we are at bloomberg headquarters in new york. our favorite stories, justin trudeau. we spoke about how he is navigating negotiations with president donald trump. jason: trade on the forefront, we also go global with one of the most listened to voices on business and

shery: taylor riggs, thank you. coming from the walmart shareholders meeting.ing up, china has always been trade enemy number one for president trump. will his tariffs push away u.s. allies when the white house needs the most to pressure beijing? we will discuss. this is bloomberg. ♪ two, down, back up! our phones are more than just phones. they're pocket-sized personal trainers. last minute gift finders. [phone voice] destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet which could save you $400 or more a year. it's a new kind of network designed to save you money. click, call, or visit a store today. david: this is "bloomberg markets: balance of power." i'm david westin. shery: i'm shery ahn. we are seeing stocks and yields gaining today. 200dow is up more than points, reversing and rebounding from yesterday's losses but still headed for weekly declines. the s&p 500, most sectors in the green, led by tech and materials. solid jobs data reinforcing expectations for a f

i am taylor riggs. jason: i am jason kelly. we are at bloomberg headquarters in new york. ite stories, justin trudeau. we spoke about how he is navigating negotiations with president donald trump. jason: trade on the forefront, we also go global with one of the most listened to voices on business and economics mohamed el-erian, and he tells us what to be worried about and what not

joining us, taylor riggs. with wages front and center what are you hearing on the ground? >> huge.the tax benefits to increase wages. we have $11 an hour. there was talk about if the board needs to do more. they recognize that it is a tight labeler -- labor market. interestingly they are working on the other benefits as well. russianounced a new policy pre-they will fund employees to go back to school to keep good progress in the school -- in the store. these fast robots, it will help the employees go to the front of the store. that is something they are doing. it is a tight labor market. 9%, they are up at the lowes. they realize a tight labor market is something they are focused on here today. >> we turn to domino's pizza. domino's is the second largest pizza restaurant chain in the world. it is responsible for 310 thousand employees. the stock has shown strong growth through the currency yields. we welcome them. it is good to have you. >> you have a lot of jobs around the country and around the world. we are adding, how may give are coming into the workforce, and we are not seei

let's check where stocks are trading with taylor riggs. story with a lack of ariff reaction. taylor: we are ending the first half of the year on a positive note in what has been a volatile news year. so we are having really a large cap story here, and i would look at the nasdaq. you are going to see the tech come back and shrug off the news like to we said. come into my terminal -- spit it out, taylor, the go function, and we are looking at a broad-based rally. materials are leading the way, so let me dig into that a little bit more. on materials, morgan emily putting out a note that they are more can active on copper and due to some supply disruptions. mining,ee both newmont one point mcnamara rising those issues. and then we have the banks, wells fargo leading the way. a clear winner after being in the penalty box from the fed, a 24 point $4 billion buyback. analysts are saying there could be a new bid for the banks now that we are starting to see this pass the fed stress tests. you are seeing that in the shares, julia. julia: thank you,

taylor riggs reporting from walmart annual meeting in arkansas. thank you for that.s saying that the u.s. economy still has more room to run. his comments coming up. this is bloomberg. ♪ julia: this is bloomberg markets. i'm julia chatterley. scarlet: and i'm scarlet fu. it time for a look at some of the news right now. be that is experiencing a service disruption on some transactions in europe. the company says is this -- it is investigating the cause and working to resolve it as quickly as possible. the the handles over 12 -- $10 billion in payments every dear -- every year. the u.s.on says economy recovery is not over and more growth is possible. speaking at the bernstein strategic visions conference, he did express concern about international firms. >> chinese banks are entering our business. i do not know how many times i have said it. chinese banks are injuring our business. i cbc makes a lot more money than jc -- j.p. morgan chase & co. they combine with the need to buy. scarlet: the chinese banks have huge home markets and he is worried about competition from

our taylor riggs is at the walmart and your meetings and joins us from bentonville, arkansas.s all about. what percentage of 2.3 million bodies at walmart are involved with the minimum wage debate? interesting. with thousands lined up out here. the minimum wage debate on $11 an hour was brought up wednesday. it was voted down wednesday, but they increased it to $11 earlier this year. they highlight some of the other benefits they have improved, like the parental leave. on wednesday, they did another rollout of new benefits on tuition fronts. for a dollar a day they can go to college and they will get an associates degree and bachelor's degree at three nonprofit universities. they highlighted the fact that they are making other changes as well. they are proud of the increased to $11 an hour and they made earlier this year. maybe they have to increase that more in the future. they are proud of the progress they have made. they have been here since 4:00 a.m. and 5:00 a.m. even in the humidity. the big business meeting was wednesday. today is more of a party day. we will see how i