it's the trendline and the fundamentals and the policies are in place. that's what i'm proud of. i would love to have president trump give a state of the union address to talk about these things. you know, and address them to the country. i'd love to see it. yes, please. reporter: [inaudible] is the white house actively looking for a sluggish economy to replace the [inaudible] mr. kudlow: the white house -- there are a couple open seats, i guess. the white house wants highly capable, competent people who understand that you can have strong economic growth without higher inflation. it's just that basic. it's just that basic. and these are presidential appointees but that's an independent agency as you know and we are not compromising their independence. we are not. that's our biggest criteria. people who understand that when the business side of the economy, when the supply side of the economy surges, we can do so with more people working, frankly, at higher wages and higher productivity and that's what the data are showing without causing higher inflation. and this has been a par

we are now approaching the trendline from below.g of a downtrend channel similar to what we saw with the s&p 500 index, we are at the point from a tactical perspective to expect a bit of a selloff and return to the lower end of the channel. ae weekly which is also long-term trend measure remains negative. reporter: you don't like stock, you don't like tech let's take a look at gold, which you like. >> in terms of one place to park, where do you go? gold is one of those charts that people love to not like because it is always frustrating. it is so uncorrelated to stocks. at a time when you see potential weakness, it could be an interesting place to be. look at this daily chart with the lows and how they connect to the trendline. it's almost the inverse of what we saw with the s&p. it is pulled back to a point of short-term wickedness -- weakness. this is a traditional japanese trend chart technique. we are above the cloud, a bullish confirmation. then look at the rsi. we talked about with the s&p 500 index the measure of momentum, an

the numbers are of greater scale, but in terms of trendlines how they spent their money, it is in linee saw a lot of companies do. disney, starbucks, visa. they put a lot of money into buybacks. they saw the tax rate go down to 21%. what they heard from investors and when they were looking around, they had a long period of growth and investing in new things. we are going to give this back to investors. you saw that someone with dividends but it was really buybacks that was the strategy of choice. emily: how does it compare to what they promised to do with this money? laura: really in line. apple promised to spend a couple of million dollars in buybacks, which that number 72 billion represents the first three quarters of last year. assuming what they did in the last quarter aligned, they would have hit that mark. they pledged to add 20,000 workers. they added 9000 last year and with the opening of campus in austin they are going to do that at 2023. emily: out as potentially tougher economic ties and that all of these plants? apple has cut its forecast for the quarter. a big iphone slowd

asked the old people when your country is going to hear its pros trendline on a map. groundless that's not a boundary. is binah can't understand what the confusion is all about it's his country and always has been his country in his mind and never lost it in the first place. the problem is the one federal law it's written on paper and it only changes. the book for or is written in the. underground and on the countryside and it is never changed. ever since the determination of. the time was running out to possible only known it was there that i love them never i think they never they are very. very good idea that. that got that got. only a little boston and when i was made to seem interested in old spider. spine i won't be here for long. i don't think they'll be any more off for him. one thing i knew i had to help him. and if you are going to look at what i'm going to lay out your neck about. iowa lies a workshop on people from the knowledge. that . i decided that's my. long commo grandfather would only let me die. when somebody dies you can't say the name they used to

ask the old people where your country is going here as pros trendline on a map. ground rules that's not a boundary. is binah can understand what the confusion is all about it's his country and always has been his country in his mind and never lost it in the first place. the problem is the one federal law it's written on paper and it only changes. the book for or is written in the. underground and on the countryside and it is never changed. or. ever seems to determination. the time was running out to possible only known it was there that i love them never i meant that i never they are very. very good idea that. god got that god. only a little boston and one of his mates seem interested in or spied a. spot i won't be here for long i don't think they'll be any more off for him. one thing i knew i had. enough and if you. look at what i'm going to lay on your neck about. iowa lies the well. known people from the knowledge. that. i decided that long commo grandfather would only let me die. when somebody dies you can't say the name they used to be. it's a big thing in t

the trendline you are seeing -- is that more a reflection, less of confidence in the market, and moret we have hit some sort of trade range people are comfortable with? luke: i think you have hit on a good point. we are talking about the forward variance of the s&p 500. this is key. we have been swinging around. we had pretty big moves in the 30 day window on intraday. however, when we are looking at the money demand for options, it has not really been there through any of the selloff. keptis one thing that has a lid on implied volatility as measured by the vix. that is an important technical factor. kawa, alwayse good to get you on. speaking of volatility, png was down today, turning to bankruptcy court after facing billions of dollars in claims over the deadly 2018 camp fire and previous fallout. caroline: time for a look at what stories are trending across the bloomberg universe. deutsche bank is in talks with rival commerzbank about a potential merger. terminal users are dealing -- are reading about top players that could make or break the deal. that includes ceo's of both banks,

but the trendlines are happening everywhere. >> i'm joined here by a columnist for "the new york timeslso follows these issues of economic equality quite closely. bit of a mission around here to address this global issue but it's kind of gangly and awkward the way it's happening because not everybody in the global elite subscribes to what the problem is, let alone how to fix it. >> that's right. look, at the end of the day this is a candidate who's done extraordinarily well in some missions in developing global vaccines and taxling aides. it's been i think pretty good at producing strategies to make the global economic pie bigger. it's pretty awful at dividing that economic pie and that, i think, is the reason for this backlash. and not to acknowledge that problem and struggles of the working class, especially in the u.s., as you know well. a time when 70,000 americans are dyeing a year from drugs, 84,000 a year from alcohol, suicide rates are at a 30-year high, life expectancy falling three years in a row for the first time in a century. that's real problems. >> these are not perceive

this trendline, you can wiggle it around a bit.ertheless, what has happened with the shanghai composite hitting this line is that it has been rocketed north. in two cases, 2005 and 2014, it has doubled in value -- hence potentially doubling your money this time around. doesn't always work? we will find out. we are not trading on that line right now. chinese equities look pretty cheap from a valuation point of view. are we about to see a repeat of -- and 2005? the chart really shop for the moon. .s gtv in this building today, somebody told me it was guy johnson's birthday. i declared you the winner of our global battle of the charts. how is that as a birthday present? guy: cannot argue with that. taylor: thank you both. happy birthday. as a birthday present, we are also going to check on the u.s. market. you can see most of the major indexes are lower. -- the nasdaq was off almost 1%. coming up little bit off the lows of the session, just off about 0.8%. we will have more next. ♪ ♪ >> from bloomberg world headquarters in new yor

data for hurricanes and tornadoes you see that there has been less of these events in 2017, and trendlines have been decreasing for decades. just because global warming exist is not mean it will take away every hurricane, tornado, flood, and wildfire that exist. there were four hurricanes last year, but if you look at the data you will see a longtime declining trend in the number of hurricanes. you can see as far as wildfires, wildfires are the component of drought and land management area if you look at the long-term data, what you see is that of the planet warms, we see less drought and fewer conditions for wildfires, if we are getting more, we are not, we are seeing a flat trend come if we did get more it would be an indictment of our land management practices not global warming. host: ms. sittenfeld? guest: why would we take time to continue to make these arguments when we are seeing life and death impacts for people all across the country? we have a trump administration itself finding that the obama administration's clean power plan is a commonsense rule and the single largest thing o

we have a chart that shows beats, it has a pretty clear trendline. will that continue?ale: here's the bullish scenario. who ise president trump a deal guy, he loves to do deals. yet democrats in the house that you have democrats in the house -- you have democrats in the house -- the market likes that. you go to the democrats and say how about a spending bill on infrastructure? let's improve the economy. democrats are much more amicable to it than republicans historically speaking. we are off to the races. david: trade negotiations going on tomorrow in washington. listen to secretary mnuchin yesterday who addressed this. that wepectation is will make significant progress at these meetings. these are complicated issues. we have a timeline of how we've knocked out the 90 days. david: he's optimistic we will have significant progress, but it's complicated. wilbur ross saying it's miles and miles before we go. lale: it depends who has president trump's ear. you have the market focused people who want a deal. they know we can't live on this uncertainty. you have other people

we have broken the trendline and retested that. give me one thing to have under conviction.hat really convinces you that it will happen. thomas: one of my highest conviction bets would be too short the nikkei. japan is the tail end of this cycle. china plunged, hong kong, taiwan, india, australia. japan is typically the tail end of the cycle. rishaad: please stick around if you would. but have a look at the latest business flash headlines. executive director's from the board of the job national bank, the state was hit by a $2 billion fraud last year. the finance ministry dismissing it immediately. they claimed that employee gift they guarantees to jewelers which they used to help maintain massive loans. beene: the currency has having the strongest climb in the world over the last six months. growing 5% against the dollar. bloomberg data shows the exports may have falling in december for the second straight month. to commerce ministry is release trade numbers later on monday. rishaad: any devaluation of the dong saying international investors have to be able to trust the econ

of those a struggle because of the volatility in the markets, it has been so sharp and not on the trendlinews that we broke last sign that with the hr mutual funds really struggling and seeing $5 billion in outflows through november, they may be adjusting. david: where are the -- where they going? alix: you just have to deliver, you just cannot be bad. david: the question is if it's a change in market structure? alix: or are there certain things you have to a debt shoe faster, or d need different types of talent to go into the future -- or do you have a different type of talent that you need to develop faster. toid: the third story, i got sit down with jeff ahead of barclays, one of the issues is investment bank, he has an activist investors saying that he needs to sell it i asked why not. he said there was going to be a shift from bank levy corporations to capital markets. here's what he had to say. the amount of bank balance sheets in europe, the united states, used to fund corporations is down 9%. in the same 10-year period, there is a lot of debt capital to fund corporations in europe,

it was specific to some of the volatility that we saw in 2018, and as that plays out, longer trendlines they do better. not adapting to fast enough with their historical model. alix: equities would split. some of them were done really well. you almost want to not give them a bad, that they did well, because comps were bad across the board. peggy: right. [laughs] alix: like how the you answer your investors -- i do not know what that guy did well. that is right. i was interesting as well, because that is what a lot of clients go to hedge funds for, help protect me against some of this volatility. we have not talked about don skip bank -- danske bank. of course they had this money laundering scandal, and now build broader, who is pretty well known, 70 has more information about the money laundering. peggy: it feels like they are not ready to be sold into what could be bad headlines. one of the strongest that's for shareholders, stockholders, and really the end of 2018 was a disaster for the bank in terms of losing about 50% of its share price or it the day doesn't like a potentially bad d

we are above the trendline. point guard are of 1% higher. largely led higher with gains. new zealand seeing a downside pressure. as if he mentioned, futures indicating weakness going into the open. seoul looking at more positive. we do have china's cpi and ppi data numbers out today as well aren an hour's time, we expecting the south korean president to be speaking as well. this is bloomberg. ♪ well. this is bloomberg. ♪ i'm haidi stroud-watts in sydney where asia's major markets have opened up for trade. shery: good evening from bloomberg world headquarters in new york, i'm shery ahn. sophie: i'm sophie kamaruddin in hong kong. welcome to "daybreak: asia." ♪ haidi: our top stories is thursday, the latest minutes indicate a cautious approach to rate hikes. muted inflation means a policy positive is likely. trade talks wrapping up in beijing. the u.s. wants assurances that china will meet its commitments. shery: the world's auto sale engine hits the brakes with china seeing a force delivered to decline and death it -- in decades we will assess the implications. let's get a

the data for hurricanes and tornadoes you see that there has been less of these events in , and trendlinese been decreasing for decades. just because global warming exist is not mean it will take away every hurricane, tornado, flood, and wildfire that exist. there were four hurricanes last year, but if you look at the data you will see a longtime declining trend in the number of hurricanes. you can see as far as wildfires, wildfires are the component of drought and land management area if you look at the long-term data, what you see is that of the planet warms, we see less drought and fewer conditions for wildfires, if we are getting more, we are not, we are seeing a flat trend come if we did get more it would be an indictment of our land management practices not global warming. ms. sittenfeld? guest: why would we take time to continue to make these arguments when we are seeing life and death impacts for people all across the country? we have a trump administration itself finding that the obama administration's clean power plan is a commonsense rule and the single largest thing our country