all the people off yemen it's not the force timed with the fight is claimed to have kind of alpha tocs deep is so deep and you eat teddy teddy last week they claim to have a tucked them oil refinery in the saudi cup it's all reality on that one sixth of july they say that kind of out on a toc or an international airport something that was quickly didn't night buy you a officials if it is true that they've been cutting out these attacks it tells you that the who's the fight us up to the teeth on the so you equally should family believes that it's iran that is supplying them who fight us with these weapons and one of the reasons why they're cutting out the toc on the city of they that and want the huth east kate saying it is a port which they have been using to rearm themselves. the brazilian workers' party has endorsed former president louis' than our solar the silver as his candidate for october's election that's despite him being in jail for corruption a money laundering tunnel showing lies in sao paolo and looking into why supporters want him back in power. will make brazil happy aga

you can follow me and for all of your latest news, follow tic toc on twitter.t is some of our reporter from tic toc by --omberg's treating live on we dive into the futures markets through the charts we will hear from the former epa chief shortly. let's dig into the energy complex. we have big games here for the likes of rent crude. you can see up 10%. a bti up 14%. gasoline up the game percent. even as the dollar is stronger. all of this is fluctuating because oil had been up more than 25%. lots of speculation about what is ahead for supply to we usually look at oil charts. what start off with a gasoline chart. we can take a look at this longer-term chart of gasoline. the generic futures contrast -- contract. we have an uptrend. the bulls in charge. there is some movement within this range. we have recently talked -- ranged the top of the starting to come off of it. we also have the near term uptrend, suggesting gasoline may drop in the near to medium term. i would like to bring in mcglone, thank you for taking the time to join us. what do you think about what

the supplying the who fight us with these weapons and one of the reasons why they're cutting out the toc on the city of they that and want the who these kate saying it is a poll to which they have been using totally on themselves. the brazilian workers' party has endorsed former president of the ways in our solar the silver as its candidate for october's presidential election that's despite him being in jail for corruption and money laundering daniel is in sao paolo and is looking into why his supporters insist on backing him. will make brazil happy again that's the party slogan but his supporters believe despite him serving a twelve year prison sentence they say they'll keep backing him until all options to release him are exhausted he's a political. prisoner right now because there is not you know a view. that. definition of proofs that. we think that the his judgment has a strong political dome and we consider that he's not. he's not a guilty even if it is allowed out in the actual court must decide if he's eligible to stand if lewis seems like he does not run in october's elections h

that he's in the saudi cup it's all reality on that one sixth of july they say that kind of out on a toc or an international airport something that was quickly didn't night buy you a seashells if it is true that they've been cutting out the tux it tells you that the who's the flights up to the teeth and the so you equally should family believes that it's iran that is supplying the who fight us with these weapons and one of the reasons why they are cutting out the toc on the city of they that and want the huth east kate saying it is a port which they have been using to rearm themselves the brazilian workers party has endorsed former president louis enough feel a little of the silver as it is counted for tobas presidential election they've done this despite him being in jail for corruption and money laundering laws in sao paulo and is looking into why his supporters insist on backing him. if he's willing will make brazil happy again that's the party slogan for the supporters believe despite having a twelve year prison sentence they say they'll keep backing him until it was options to relea

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analystsn more than 120 countries. i'm courtney donohoe. this is "bloomberg." julie: thank you. i wanted to flag we are seeing stocks in the u.s. take a leg down. it is not large in terms of size but it is dramatic in terms of the movement. all three major averages were in .5%,reen, the nasdaq up by the dow in the red and the s&p hanging onto a game. -- onto a gain. from new york, this is bloomberg. julie: live from new york, i'm julie hyman. mark: live from london, i'm mark barton, counting down to the european close in four minutes time. julie: i want to check on the u.s. major averages. we are seeing this leg downward that has taken the s&p into the red. you can see the drop more clearly. it is not a large one in size. the magnitude, it is dramatic. where not sure what is going on. material stocks did move into the red, industrial stocks moved into the red, leading the losses as technology is holding up well. at wheree a look european markets are trading as we head to the close. against up

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is "bloomberg." -- shery: thank you. the imf has released a statement amid the argentina crisis saying the imf supports argentina and that it is confident it can overcome its fiscal misdeeds, will meet imf chief the treasury secretary of argentina next tuesday for loan talks. we had heard the president asking the imf to speed up disbursement's from its credit lines. we see back in june it had received loans. the peso gaining ground after falling to a record low. more coming up. this is "bloomberg." ♪ vonnie: live from new york, i'm vonnie quinn. shery: and i'm shery anh. this is bloomberg markets. mixed on thestocks final trading day of the month, the dow, s&p 500 and the nasdaq setting records. joining us now is michael could gino. we have been talking about the stocks, tech stocks. how much more room is there to run? michael: we're in a sweet spot data,trong economic economic rates are rising gradually but not too fast. strong and g

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is "bloomberg." vonnie: thank you. we are going to have more on venezuela coming up. you can catch our interviews with the function tv . you can find breaking news and related functionality we discussed. this is "bloomberg." ♪ vonnie: live from new york, i'm vonnie quinn. bostick,i'm romaine counting down to the european close. vonnie: nicolas maduro carried out one of the greatest currency devaluation's in history. already forecast to reach 1,000,000% this year. the plunge will test the limits of a suffering population that is likely to experience worsening inflation. joining us is dan. tell us about the special bank holiday that has been called today and why? thisen before he announced devaluation, today's bids were going to cut off five zero's. to allowoliday was banks to stock up on new bills and fix the online platforms for banking. vonnie: how bad is it? what he has done is recognized that the black market exchange rate

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. vonnie: thank you. coming up, theresa may says a brexit deal with the european union is more likely than not. her trade minister is not so sure. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. mark: live from london, i'm mark barton, counting down to the european close in 15 minutes. let's talk about brexit, a house divided. may's minister ratcheting up warnings for a hard brexit. deal at 60%, a no putting pressure on sterling. the dollar is at an 11 month low. it is a hard figure. is a part of the war or is it something we should be worried about? >> liam fox is a trade secretary. he is not involved in brexit negotiations. he is a veteran supporter of the brexit cause and he would not mind if the u.k. crashed out without a deal. theresa may's spokesman this morning said she did not agree with this number and she thinks it is more likely than not the u.k. will get a deal. a lot of the noise has bee

on tic toc, a feature on generation zed. on outnumbering millennials.heck out those stories trending online. this is bloomberg. ♪ rishaad: we are back. this is bloomberg markets. i'm rishaad salamat. haidi: let's get you a quick check of the latest business headlines. we're seeing mixed messages surrounded developer china ever to jump,'s continue the board has announced a special dividend. skepticism about the company's debt business model is driving although shorts. rivald: ever grande china bank reporting at what he 5% gain in the first half off the back of unstoppable home sales. earnings on the way up to $1.3 billion from $1 billion a year ago. core profits are sustained. monthuying ended an 18 ownership tussle that resulted in a state entity becoming the largest shareholder. are slamming shut for china's investment as -- across the developed world. you are saying that doors are slamming shut not just across the tech sector but potentially throw away the back positions -- of acquisitions, robotic lawnmowers, what is the overall trend? >> i guess the

global news, 24 hours a day, on air and at tic toc on twitter, powered by more than 2700 journalistsnd analysts in over 120 countries. i'm haslinda amin. this is bloomberg. ramy: thanks very much. two washington, d.c.. senator john mccain's allies as well as his political foes rally in a rare show of unity in offering condolences on his death. they include president trump who had repeatedly criticized mr. mccain since he began his campaign in 20 15 care the president waited, my deepest sympathies and respect go out to the family of senator john mccain, our hearts and prayers are with you. bloomberg editor ros krasny joins us now to washington. who else have we heard from so far? fromwe have really heard everybody across the u.s. political spectrum and many other world leaders. i think it is very interesting to look at somebody like john mccain and see how much of an outpouring their heads been even from leaders from angela merkel from germany, emmanuel macron, theresa may. president of the united states, he ran twice as a republican, but do not win. yet he had so much respect around

global news, 24 hours a day, on air and at tic-toc on twitter, powered by more than 2700 journalistsnd analysts in over 120 countries. i am jenna degen heart. this is bloomberg. haidi. haidi fish jenna, thank you. let us get to our top story. policy makers meeting in a jackson hole for the fed's greet.meet and the biggest risk to the global economy, trade i am sure, will get a mention. kathleen hays is there for bloomberg. kathleen? kathleen: haidi, thank you very much. i am joined by the governor of the reserve bank, previously serving as deputy governor. rbnz, hey years at us sovereign wealth fund, and he's here to talk about what is going on a jackson hole. , and of course what is going on at rbnz. one of the things that we will from jay powell tomorrow, is the economic outlook. what is your assessment of the global economy? would it support growth in new zealand, or is it more to the downside. >> we have been optimistic at, i should say. growth remains strong, despite all the headlines around trade wars, but they would have to become real and very vicious, because it can affect n

global news, 24 hours a day on-air and on tic toc on twitter, powered by more than 2,700 journalistss in more than 120 countries. this is bloomberg. thanks.: european stocks edging higher. equities in europe ended on a positive note. if you look at treasuries, there is little change. we are also looking at the turkish lira. guy: it is the first quiet friday we have had this summer. the big are not seeing macro moves, we are seeing individual stocks on the move. let's look at what we've got. the company is pleasing investors, spinning off another part of its oil business. and france selected a canadian to be ceo put the union is voicing disquiet. we are looking at the italian highway story, genoa, your part of the world. we will come back to that. finally, look at what is happening in the tech space and video. it seems to be having a negative effect on the european sector. is trading lower? anti-goes through the volatility. yesterday we spent a fair amount of time looking at commodities. that tracksndex their volatility. you can see it surging to the highest in 18 months. it is someth

global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analystsmore than 120 countries. this is bloomberg. manus, anna. anna: thank you, juliette saly. we have the latest on the disaster in italy. good to have you with us. we know 35 people have been killed. bring us up-to-date. >> that is likely the temporary death toll which is likely to rise. the antiestablishment coalition asks if the government is preparing for next year, and after this event, someone in the government, the cabinet asked whether the fiscal rules should be respected if external .onstraints question whether it makes sense to follow the rules. there cannot be a trade-off between the fiscal rules and the safety of italians. how has this been taken by the people of italy? the former prime minister saldini,d selby -- saying this is not something to make political capital on. are the people of italy concurring with the government that this is a tragedy you should make political hay from? >> it is hard to say what italians see. there are a number of infrastructures which date back to

and on tic toc, how security threats are showing shipping routes could lead to higher oil prices.y and the others. they are trending on bloomberg online and the terminal. ♪ ♪ china's group is said to be weighing off -- options for avalon. the bloomberg -- the company has ck assets and holdings. it is in turkey. what does this potential tell us about hna and it's brought this -- broader struggle to pay down debts? this would be one of its most valuable assets. itches and arguably that they are in much deeper hot than we first thought. >> i think you have got that right. this is not just one of the largest assets, it is a core asset. this is an aviation-based group that had diversified into a wide range of things. at one point, i think they invested in the entertainment industry. they have tourism, hotels, and they have stripped of that away. now they are down to core assets. if you look at a business like plane leasing, generally, that is a cash generator. it is a fairly straightforward business. when you acquire planes at one price and lease them out at another and take the margin

global news 24 hours a day on air and at tic-toc on twitter, powered by more than 2700 journalists andnalysts in more than 120 countries. this is bloomberg. matt? matt: thanks very much debra. asian stocks are mixed as china pledged it will stay the course with a trade war with the u.s. they pared gains triggering a pboc move to make it more expensive to bet against the currency. joining us from singapore is mark cudmore, bloomberg's mliv strategist. china has taken some measures to hold the currency from falling to hold markets, equity indexes continue to slip. they haven't work. why not? mark: it's just so cheap to short the u.n. at the moment that this is not going to deter them. it's a marginal move but the dollar see and why forward are negative at the moment. this means bears are getting paid to short the yuan in the cmy nds. was really important is the market. to stay involved at the moment and i don't see this as being a game changer. i'm not particularly bearish you on, but it's been clear the pboc has let you one week as to counteract the sentiment around the trade war and th

global news 24 hours a day on air and at tic-toc on twitter, powered by more than 2700 journalists andnalysts in more than 120 countries. this is bloomberg. guy, matt? matt: thanks very much. juliette saly with your headlines out of singapore. asian stocks have gained, chinese markets falling an all-time high on the u.s. peers last week. the u.n. is stable after friday's gains and as the pboc signals, is taking action to support the currency. joining us from singapore's mark cudmore. see inout the gains we chinese stocks. are they driven by jackson hole or the pboc? mark: i think they are driven more by the pboc. the signal coming from the pboc friday, given it backed up other policy shifts, and the size they want to put a floor in the yuan and there's a slight u.n. appreciation trend. we seen in recent months the correlations in the u.n. and chinese equities have strengthened, so that provides comfort for many assets. it boosts their demand for commodities. it should help metals prices. because the worry around yeauan flight, itst capital provides a enthusiasm for broader asia context

juliette: global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . the australian share market is the only one in the red. bhp wang, to do with and key banks coming under pressure. the nikkei is up by 0.2%, but it is chinese stocks powering this rally. pharmaceutical stocks are doing well on a number of key earnings. let's have a look at other companies we are watching in the region because i mentioned bhp coming through. corporate tax cuts -- bhp did rise in yesterday ahead of these results. well --telecom doing china telecom doing well. it has an upgrade from jefferies. optical rise sunny for the first time in eight sessions. this is a stock that has been hit hard. worth $83 iss slightly below that. we are seeing a pick up in the share price today. thank you to juliette saly in our studios in singapore. president trump has complained that jay powell has not been the fed chairman he wants. earliernback weakened after trump repeated his claim that china and e

that he's in the saudi cup it's all reality on that one sixth of july they say that kind of out on a toc or international airport as something that was quickly didn't night buy you a cecil's if it is true that they've been cutting out the tux it tells you that the who's the flights up to the teeth on the so you equally should family believes that it's it on that is supplying the who fight us with these weapons and one of the reasons why they are cutting out the toc on the city of they that and want the who thieves kate saying it is a port which they have been using totally on themselves budget more ahead on the news hour including bail denied in zimbabwe for opposition members who've appeared in court on charges critics say are politically motivated. plus speeding up the asylum process or isolating refugees germany opens its new her centers. to underscore the far shuffle. time to support the dream run continues for the irish amateur said the hockey world cup. a u.n. report says north korea is still building nuclear weapons and engaging in illegal trade in violation of international sanct

supplying the who fight us with these that weapons and one of the reasons why they're cutting out the toc on the city of they that and want the booth east kate saying it is a port which they have been using to rearm themselves. and with the news hour live from london much more still to tell you about riot police out in force in the u.s. this year and is a right wing rally and counter-rally get on the way. bail denied in zimbabwe for opposition members who appeared in court on charges critics say all politically motivated and in sport and then claim the ana is in their historic test match against india. a un report says north korea is still building nuclear weapons and engaging in illegal trade all in violation of international sanctions meanwhile the u.s. and north korea all sit all day over that disarmament deal also in jordan reports on more diplomatic tensions around pyongyang's nuclear ambitions north korea promised the u.s. in june that it was committed to ridding the peninsula of all nuclear weapons but experts monitoring north korea's disarmament efforts have just given the u.n. se

using toc s like advanced genosting and immunotherapy to bring more options to our patients. cancer treatment centers of america. e not just fighting cancer any more. we're outsmarting it. utsit cancercenter.com/oart to learn more. >>> right now, a possible break in a murder investigation and it's because of the victim of a different crime. >> i knew that was my car. i mlieve that car was used in this heinous act. >> hear from the woman who says her car was used in the death of a 10-year-old girl. >>> plus, another sexbu scandal for the catholic church. 00 predator priests unmasked and d.c.'s highest church leader allegedly in the cover-up. >>> taylor swift breaks her silence about her own sexual assault case. a look at her thank you to fans now going viral. >>> i don't know what turn my life would have taken

global news, 24 hours a day, on air and at tic toc on twitter, powered by more than 2700 journalistsnd analysts in over 120 countries. i'm mark crumpton. this is bloomberg. julie: thank you, mark. let's turn to a major executive who has been involved in many deals including t-mobile's merger with sprint. ed hammond joins us from sprint headquarters in overland park kansas with an exclusive interview. ed: thank you, julie. i'm here today with marcelo claure, the coo of softbank and chairman of sprint. it has been a busy week for softbank. they have announced the sale of flip card. they have invested in alibaba's delivery business. they are also rumored to be looking at the ipo of their japanese mobile unit. that would be somewhere in $19 billion. they have also invented -- invested in the pizza market. lastly, you had your sixth hit. congratulations. a very busy week. makes the question, which you must think about a lot, which is this, what exactly is softbank? marcelo: this week, it has been an important week for me. i am a happy father of my six kids. it has been a very happy week.

that he's in the saudi cup it's all reality on that one sixth of july they say that kind of out on a toc or international airport something that was quickly did night buy you a seashells if it is true that they've been cutting out these attacks it tells you that the who's the fights us up to the teeth and the so you equally should family believes that it's iran that is supplying the who fight us with these weapons and one of the reasons why they are cutting out the toc on the city of they that and want the huth east kate saying it is a port which they have been using to rearm themselves. a un report says north korea is still building nuclear weapons and engaging in illegal trade in violation of international sanctions north korean leader kim jong un had promised to work towards dismantling the country's nuclear weapons program at a summit with donald trump in june well in jordan reports on the bring new diplomatic tensions around pyongyang's nuclear ambitions. north korea promised the u.s. in june that it was committed to ridding the peninsula of all nuclear weapons but experts monitorin

taylor: that is some of our reporting from tic toc streaming live on new york. it is time for turning futures rallied up the futures markets through the charts trading to a record trash -- trading near record highs. since the start of the earnings season, a month ago, it is certainly look risk on. take a look at the s&p 500. up 3.7%. on pays for its best quarter of the year. the nasdaq 100 up about the same amount. the 10 year yield up 15 basis points. against the dollar falling. again, over the last month or so, all across that come asset signals pointing to a risk on environment. lots of risk appetite. when we happened to the bloomberg, i love this chart. you can use it using the gtv function to what we are looking at on top, the s&p 500 is white. in january, its all-time high days after president trump first announced tariffs on washington -- on washing machines and solar panels. looking atom, we are the percentage of members near a of the s&pnuary, 35% 500 members hitting 52-week highs. healthy to explain the all-time high. we are very close to the all-time

the fighters of accuse the sodium led coalition of launching the toc the. saudi led coalition attacked a bus carrying more than thirty students who were on a summer school trip to the city there's no exact number of the dead people the hospital has received many many wounded with a lot of serious injuries and this boy refuses to harvey's injuries to his brothers were with him on the bus yes no no i mean my brothers get help until i see my brothers. the strike happened during morning rush hour in the busy market. a huge crater lies in the middle of the ruled the exact support where the missile fell the mongols wreckage of the school bus the children what's troubling him now trapped under the destroyed market buildings lining materials belonging to the children us through not around even mine does of the talk and the friends that struggle to live the seen by those lucky enough to escape on in a statement the sodium but out to coalition save its aspects inside what aimed a missile launches used to attack an industrial city in southern so debbie on wednesday th

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analystsuntries. this is "bloomberg." francine: thank you so much. eurozone, about the about italy, let's bring you to a chart which is the premium between italy and spain. italy may have no greater incentive to ensure it stays within the european spending rules. we have that controversial budget law coming up. ofll with us, mena patel jpmorgan. if you look at italy, it seems the government is making waves. what does it mean? at italy, are looking it is down to politics and the affects of what that might mean for other countries. we are looking at italy as an isolated case. we are not seeing the spreading out to other countries but it is a risk we are starting to see this as billy and that is can -- see this as billy and that -- te and that is a concern. italy is a concern on the fiscal side. that is when you're looking at the european side, that is more of a concern. break theif they estimate of 3%, how much wider does the spread with german bunds get? >> a could get wider. if you think about

global news 24 hours a day on air and on tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm rosalind chin. this is bloomberg. haidi: we're going to continue the conversation with cliff and endo on emerging markets as turkey gets back to work next. later, the roller coaster ride for tesla jumps off. investors watching this latest chapter. elon musk pulling the brakes. a lot of questions still left unanswered. this is bloomberg. ♪ mberg. ♪ haidi: this is bloomberg markets: asia. we were taking a look at what jay powell had to say over the weekend, essentially staying on course. not much of a change. largely the comments were considered to me more on the dovish side. i want to bring up this chart that looks at these highly contested neutral rates. in his remarks he has spoken about how much uncertainty there is about the level of the neutral rates. are we at neutral? there are many ways you can look at it and there's not much certainty. i want to bring in the head of global research, and our chief asia economics editor. andng a look at t

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts nejra: just got some headlines coming through with bayer. dropping after monsanto losing that verdict in the roundup cancer trial. the jury verdict is at odds with evidence, from bayer. this is a response we've not yet had, believing the courts will find it is not to blame. as we take a look at what shares are doing, declining more than 10%. tom: as we look at turkish and lyric, it is not just about falling lyric, it is about -- turkish lira. is not just about the falling lyric, it is about the ramifications. is the distinction here between the south african government. they have got their own problems, a weakening in the rand and such. now this. how does south africa respond to the contagion? >> we know that the south african reserve tank does not like to intervene in the market. -- reserve bank does not like to intervene in the market. what you said about the political part that the government is trying to deal with its issues and we see the slump in the rant going to weigh on the i

global news, 24 hours a day, on air and at tic-toc on twitter, powered by more than 2700 journalistsnd analysts in over 120 countries. i am paul allen. this is bloomberg. ♪ rishaad: we will be looking at apple earnings and it is a bright spot for the tech sector, later in the hour. perhaps also discussing diverging central-bank policy, we are joined by the head of research at top-down charts limited. this is bloomberg. ♪ ♪ rishaad: global bond markets seem to be sending a signal that the fed is the only big central-bank worth betting on when it comes to policy this year. the two-year yields were close to a record high, and that gap is about the biggest since 2007 bonds. u.s. and japanese that spreads have widened, on thursdays decision which is expected to continue gradual rate hikes. the central bank has barely left base come and his attempt to curb stimulus. the bank of england is expected to hike this week as well, but investors seem to think that it is a one and done this year. the reserve bank in india is trying to shore off the weakening of asia's biggest currency. there is 6.5

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts0 countries. i'm kailey leinz. this is "bloomberg." tom: thank you so much. he has experience as attorney general. jeff sessions was attorney general for his alabama in 1994. he is in the crosshairs of president trump. there is a raging internal 1600e between the pennsylvania avenue and the department of justice. i want you to give us a clinic on why the department of justice is different than the department of agriculture. hashe department of justice operated independently of the saw, we haved we seen trump trying to push back on the justice department's jeffendence, attacking sessions for recusing himself from the mueller investigation, saying he would not have appointed him if he knew he was going to do that. now, what you have is that jeff sessions is pushing back, saying yesterday that the justice department will remain betweenent and this war the white house and the justice department has escalated. raising the prospect that trump does seem determined to try to get rid of jeff se

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analyststries. i'm taylor riggs. this is "bloomberg." nejra: thank you so much. emerging-market assets are headed for a monthly losses as declines in argentina and turkey spot fears of a global contagion. we spoke with tom mackenzie about contagion risks, the ecb, and brexit. >> well-managed economies are safe. there are well-managed and less well-managed economies. there are economies with current account surpluses and have significant foreign-exchange reserves and are safe. when people fair contagion, there is no contagion from poorly managed economies to well-managed economies. the countries of that are under pressure is because they have a significant current account balance problem and that makes them vulnerable. it is not because they are emerging markets. it is important to manage the fiscal situation responsibly. you will find a lot of emerging economies are in that position. the ones that have come under pressure historically have more fundamental macroeconomic problems. i met some of

seriously the foreign minister and washington to get down to the sort of nitty gritty fine details of the tocs the topic anomic advisor for the trumpet ministration speaking on the morning chat shows here in washington saying that what this is really about is is china well we've now got a kind of a bilateral agreement within the trilateral arrangement of the north american free trade agreement or nafta what mexico and the united states agreed to is that particular what comes the auto sector cars seventy five percent of them will now be guaranteed to be made in the united states or mexico and the reason that they've done this and put this commitment forward is because the concern that china is flooding the market with cheap parts and that is hurting both countries so this is the argument that the u.s. is expected to lay out to the canadian side look at this benefits you as well this is why you need to sign on and certainly canada has signaled a willingness to in the words of the spokesperson for the foreign minister modernize the north american free trade agreement but there are unique things t

defined body in the soda cup it's all reality on that one sixth of july they say that kind of out on a toc or an international airport something that was quickly didn't buy buy you a free szell's if it is true that they've been cutting out these attacks it tells you that the who's the fights us up to the teeth and the so you equally should family believes that it's it on that the supply of the who fight us with these weapons and one of the reasons why they're cutting out the talk on the city of they that and want the who these kate saying it is a port which they have been using to rearm themselves. carter is beefing up its air force with thirty six f. fifteen fighter jets the deputy prime minister and minister of state for defense shield the twelve billion dollar deal during a trip to the u.s. this follows agreements between the u.s. and culture of calling this year rather for guided missiles and equipment upgrades both countries have a close military relationship with qatar playing host to a major u.s. air base the air force upgrade comes almost fourteen months into a saudi led blockade o

defined to be in the saudi couple realities on that one sixth of july they say that kind of out on a toc or international airport something that was quickly didn't i buy you a officials if it is true that they've been cutting out these talks it tells you that the who's who fights us up to the teeth on the so you equally should family believes that it's iran that is supplying the who fight us with these but weapons one of the reasons why they are cutting out the talk on the city of they do that and want the huth used to see it is a port which they have been using to rearm themselves. a u.n. report says north korea is still building nuclear weapons and engaging in illegal trade all in violation of international sanctions meanwhile the u.s. and north korea say that all of that disarmament dale was enjoying reports on the rainy diplomatic tensions around. north korea promised the u.s. in june that it was committed to ridding the peninsula of all nuclear weapons but experts monitoring north korea's disarmament efforts have just given the u.n. security council a report saying kim jong un is br

global news, 24 hours a day, on air and at tick toc on twitter, powered by over 2700 journalists andn more than 120 countries. this is bloomberg. david: back to our top story. it was a historic day yesterday ofn two former aides president trump, former campaign chairman paul manafort and former personal attorney michael cohen were convicted on felonies within minutes of each other. paul manafort was found guilty on a charges including bank fraud and tax evasion. mr. cohen pled guilty on eight counts including bank fraud, tax evasion and campaign-finance violations. here to give us a sense of what to expect next is former federal prosecutor robert ray. a sermon -- he served as a whitewater independent counsel. always good to have you here. let's take these one at a time and there is a lot of heat and light. what is there? what does this mean for the president? robert: it is a little complicated. we don't know what it means because the president is probably right to suggest where is the evidence of campaign illusion with the russian -- collusion with the russians. these are crimes rela

global news, 24 hours a day, on air and at tick toc on twitter, powered by over 2700 journalists ands in more than 120 countries. this is bloomberg. week: retail earnings continues with macy's coming out this morning and walmart, nordstrom and jcpenney reporting tomorrow. i asked ken langone what meant the difference between success and failure for retailers. walmart a great company and kmart is now gone? the old kmart went bankrupt and is now part of sears. what was the difference? people. sam walton had the people he had around him. tom cotton, david glass. more recently, doug mcmillon. it is always the people. depot underat home bernie was thriving? and then frank blake and it is roaring? what is it? it is back to the people. whenever i have made a mistake about people, i have paid dearly. , home that is ken langone depot cofounder. that is the premiere episode of big decisions, tonight at 90 5 p.m. eastern. i sat with him for a good half hour. alix: i love ken langone. he says what he thinks, let's it all out there -- puts it all out there. david: he swore less. alix: that would

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is "bloomberg." vonnie: thank you. we are waiting an announcement from president trump about that deal with mexico. he has started his comments. we will bring you play back as soon as we get it. he said it is a big day for trade. the president saying he is going to get rid of the name and call u.s.-mexico trade. this is bloomberg. ♪ vonnie: we are waiting for president trump to make comments. he has begun speaking and we will bring you that as soon as we get it. the president saying this is a big day for trade. there has been a u.s.-mexico trade agreement today. a short while ago that the u.s. and mexico had reached a deal, getting through some of the things that had been great blocking the deal. let's go to michael mckee in studio now, the u.s. and mexico can come to a deal the congress has to have a role, right? >> this is not a treaty. this is something called executive legislative agreement with nafta. congress would have to a

and follow us at tic toc on twitter. this is bloomberg. ♪ tumbled friday.iggest maker of cyber security software expected to record $15 million in restructuring costs as it cuts 8% of tis workforce this year. -- its workforce this year. it closed fewer business deals unexpected. -- than expected. larry page, former twitter ceo and then horowitz remain -- the been sporting allbirds, environmentally friendly footwear sweeping silicon valley. since launching in 2016, the startup has tiger global and leonardo dicaprio, the company uses wool and eucalyptus tree fibers to make shoes.a n and is adding brazilian sugarcane. it replaces plastic foam that uses 95% less water than typical shoes it. allbirds says it is so much more than a shoe company. joining us now is tim brown. you've got these new sugar zephr flip-flops that have the sugarcane. >> it's a journey that took about three years. my co-founder had a previous relationship with him personally and green energy company. we convince them to reconnect some parts. and effectively replace the pitch with sugar in

are set toc stocks fall and trade tensions are going higher.heading back at tariffs and the u.s. is sanctioning russia. currencies are under pressure. the kiwi is declining. the outlook for growth is also weakening. >> i'm kathleen hays in new york where it is just past 7 p.m.. u.s. and japan tackle trade in new talks in washington. any deal could be threatened for support for the cpp. earnings topped estimates and the results

global news, 24 hours a day, on air and on tic-toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. up, we will hear from the mayor of newark, new jersey. tomorrow on bloomberg, david westin interviews berkshire hathaway ceo warren buffett. this is bloomberg. ♪ taylor: that is some of our reporting streaming on twitter. romaine: this is bloomberg markets. it is time for a bloomberg business flash. a look at some of the biggest business stories. shares of dick's sporting goods are falling. another quarter of slumping sales since ending sales of assault style rivals in february. it also says it experienced significant decline in under armour products. under armour shares are also trading lower. amazon and google parent out of that -- morgan stanley bumped its price for amazon by 1%. it is higher than any other of the analysts surveyed. morgan stanley sees amazon's cloud services as catalysts. a stark warning from deutsche bank president. he says european banks need to bulk up or die. predicting that increased requirements wil

global news, 24 hours a day, on air and at tic toc on twitter, powered by more than 2700 journalistsin over 120 countries. i'm kailey leinz. this is bloomberg. shery: thank you. investigators are reaching the inner sanctum. the longtime cfo of the trump organization who has worked for the trump family for over 40 years was granted immunity by federal investigators for his cooperation into the probe of michael cohen. o'brien who wrote a biography of donald trump called the news a potentially momentous turn of events for the president. in an interview with bloomberg yesterday, president trump shrugged off the development saying he was -- it was not a betrayal. he didn't 100%. he is a wonderful guy. it was a very limited period of time. shery: for more, we are joined by elie honig, former federal prosecutor. always great to have you with us. how important is mr. weisel brca are? elie: could be quite important. what we can see is the southern district of new york circling around the campaign violation this -- at this point. it is connected to the payoffs of various women are we saw micha

global news, 24 hours a day, on air and at tic toc on twitter, powered by more than 2700 journalistsver 120 countries. i'm mark crumpton. this is bloomberg. caroline: thanks so much. let's get back to those markets. u.s. stocks trading near record highs. now,uest says right investors should be looking at opportunities outside the united states. joining us is kristen bitterly, private head of capital markets in america. i want to get to the outperformance we have seen in the u.s. stock market. i am looking at a chart of u.s. stocks relative to the world. they have overshot. i'm looking at how the folks did today, the u.s. continues to push against its record highs. why is this happening, will it continue to happen? kristen: it is very interesting. we looked at performance going back five years, comparing u.s. ,quities to european equities to emerging-market equities. over the past five years, starting in 2013, u.s. equities have returned 125%. compare that with european equities at around 45% and u.s. -- in u.s. dollar terms, there is a big difference. thisour standpoint, creates an i

global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. lira is: turkey's recovering after hitting a record low yesterday. the move came among heightened concern. a spat with the u.s. overshadowed. hovered at aond low while president erdogan said they will respond to sanctions over a detained american pastor. furtherto go to avoid turmoil? what is the trigger for a move of this proportion? >> the interesting thing about yesterday's move, the lira fell 7%, the most since 2008. in --s. and turkey are the u.s. has imposed sanctions on turkey. markets are making a rational calculation that every day turkey does not return the hostages is a day that the probability of more damaging u.s. sanctions increase. what are policymakers doing about it? they tried to do a couple things, but it does not seem to be enough to reinstate confidence. >> not much. they are on the sidelines here. turkey moved to a new system of administration, new people in charge in the economic administration. that in a time of cr

global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts0 countries. i'm taylor riggs. this is "bloomberg." tom: thanks so much. it is a interesting weekend. it is the small matter of tesla. it was a private gambit. it collapsed in flames over the weekend as tesla say they will stay public. we are joined by bloomberg in germany. why whytart with the did we see mr. musk say never mind? >> it must've been a lot of pressure. tons of pressure. tom: we assume litigation will follow him -- he still has a business to run. interesting is the search for someone to assist him with executive capabilities. where does that stand? >> i do not think we know of any progress at the moment. this is what that has shown is that he needs help. he misinterpreted the situation. why would volkswagen invest in tesla? why would you go to volkswagen in this story? yeah, our understanding of the people we talked to is it is a nonstarter. volkswagen is gearing up a major electric power offensive. they have their own platform, they are starting to roll out their own tes

global news, 24 hours a day, on air and at tic toc on twitter, powered by more than 2700 journalistss in over 120 countries. i'm mark crumpton. this is bloomberg. shery: thank you. the guilty pleas and verdicts are coming down ahead of labor day, the traditional kickoff or midterm elections. organizations are stepping up in states across the country, spending on ad campaigns and shelling out local endorsements including americans for prosperity. which is been called the third largest political party in the united states. this year, some candidates across the aisle have been finding rare displaces for support. we welcome tim phillips, forident of america prosperity. today in new york. it is great to have you in the studio. tim: good to be in the studio with both of you. shery: you are here for fundraising events. all of these developments over manafort, mr. cohen, if anything, they will probably hurt gop enthusiasm. will this make it more challenging to raise capital? tim: we are not a political party opinion for anyone, to be clear about that. i think it does increase the headwinds f

global news, 24 hours a day, on air and at tick toc on twitter, powered by over 2700 journalists andsts in more than 120 countries. on kailey leinz. this -- i am kailey leinz. this is bloomberg. julie: time for our stock of the hour. we are watching macy's. investors are spooked at the cost of maintaining it. same-store sales beat estimates and they also boosted their earnings and sales guidance, but the stock is down by about 12%. michael bonetti is a retail analyst at credit suisse. it ise target of $34 and heading further down toward that level. what was the biggest disappointment in this report? michael: i think it was a mix of what macy's reported and the expectations over the last few weeks. we had a few earnings reports in retail sales and -- retail season. the company reported about flat same-store sales if you exclude their license departments. i think the market expected something closer to 1%. the company did raise its expectations for sales for the second half of the year and that coupled with the optics of falling short of what the market is expecting is causing some tre

made my way to the toc, technical operations center for the question of the day. we told you about that story, the 6-year-old youtuber who got his own big toy line with walmart. we were asking, is it too young, too much for a young kid? what about the parents? and we did have some feedback there on facebook and on twitter. one person saying, i hope all the money goes into a college fund of some sort and another person saying i guess it's okay but we only have childhood once. why not let kids be kids? some might argue the kid is being a kid. whatever you think, join the conversation online. you can find me on facebook and on twitter. marcus? >> making $11 million a year, doing something right. >>> all right. so people in communities across the bay area and the nation will get to know each other a little bit better tonight on national night out. police, rescue and city government workers often take part here meant to boost community safety and fight crime. there are hundreds of night out events planned but san jose will host a large event at seven trees community ce

global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. fed.ine: trump versus the president trump has said he expected jerome powell to be a chief money chairman. he complained to republican donors, and the dollar moved lower on the comments. the president nominates the chairman, but he is independent and has historically frustrated residents. let's keep the conversation on central banks and president trump's view on jay powell. now neville hill, chief european economist, credit ,uisse and nicholas gartside cio, jpmorgan chase. does this tilt the fed into hiking more than they want to? >> i do not think so. the fed has a crystal clear mandate set down in law. in terms of employment and in terms of inflation, and so the fed look at interest rates, the case should be increasing rates more quickly, not more slowly from where we are now. time, if at the same you are jay powell and the new chairman of the fed, you really don't want the president involved. nicholas: no, this marks a change in presid

global news, 24 hours a day, on-air, online at tic-toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am mark crumpton. this is bloomberg. sher: i'm shery ahn. julie: i'm julie hyman. in for vonnie quinn. this is "bloomberg markets." shery: here are the top stories we are following. turkey's turmoil, policymakers and a boost investor confidence was stocks and bonds extend the decline. we speak with jason brady, of thornburg ceo investment management. when you know this hour. day andinto the trading abigail doolittle, it's not looking great for now. abigail: earlier we have gains been a we have solid declines. the dow, s&p 500, and the nasdaq and the s&p 500 and the dow on pace for the fourth down day in the row, as the longest losing streak since the middle of march. a bit of a bearish streak and turkey turmoil, uncertainty. the three-day chart of the turkey related etf and we have seen down, down, and down more than 25% in more than three days, the worst three-day slide on record. fears about what's next for turkey how its currency, and will