emily: ubs has a solid rating on tesla. has that changed since the controversy over going private, staying public broke out? colin: our view has not changed. i think we are a bit cautious on the nature of the tweet given there are certain reg fd rules. i think it will be challenging to go private given they will need to raise -- given the debt would come through. you need 80 or 90 billion funded to go private. i think there will be challenging to do a deal of that size. the market does not seem to price them that the deal will get done because we are far from the $420 going private target. we are just as skeptical as the market. lincoln --colin langan and david, thank you. a clientsecurity, privacy and the difference between hate speech and free speech are all hot topics. it does not seem to be going away soon. topics reach much farther than the facebook data breach, youtube's decision to ban alex jones or russian bots. one company stressing the importance of every discussion, is go daddy. they are dedicated to independent

maximilian kunkel, the cio of germany at sea -- ubs.ohannesburg market, we talked about this through the morning already, ntn is facing a big call from nigeria that it will repatriate money. ae nigerians are ordering refund. the telecoms group is really suffering on the back of this. at one point, it was down 18%. it is now 16%. latest bring you the news on this and continue to follow the share price and the news you need around it. sector but a different move. beougue trading sharply, up by 4% after 20,000 mobile customers in qt. this is bloomberg. ♪ guy: 11 minutes into the session. european equity markets, going nowhere fast. some interesting stock stories worth focusing on. annmarie hordern. of theie: bouygues one biggest gains on the stoxx 600. out with earnings that beat numbers. they confirmed their outlook in their mobile unit. they added customers, which is pretty big considering they are the smallest french mobile company. could be adding to the stock gains this morning. dansk a bank down .4%. departmenteasury money laundering

nejra: what is ubs do on the 10-year gilt yield? going. making a call on how much the bank of england or anything, for that matter, is willing to outpaced the fed. we have taken one already, but by 2020, it is more than likely they will need to keep a balance sheet stability, and they need to keep the treasuries. on a once level, i do not think anything wants to push -- any bank wants to push. nejra: i want to update that table has dropped 0.5%, touching $1.2935. you sort of moved on to the fed there, geoff. yount to ask you, matthew, were talking about a 10-year yield, the fact that it is struggling to break 3.5%. given the economy, should u.s. yields be higher? matthew: i think definitely given where the economy is, given where the fed is some of the money on the balance sheet, and the increase in fiscal deficit. but you have the global forces that are taking effect. you have the boj with the policy, ecb has continued to do qe. in the u.s., there has been tensions on demand for the longer end of the car, which is yieldse, which ha

what we are getting to now, according to the likes of one -- oneom ubs, she says power from ubs, she says we are edging close to the point of no return. there's stronger exports and a big surge in imports which is likely to be short-lived. war between the two sides could cut global gdp by about 0.7%. it could get china's gdp by 1.3% and u.s. gdp by 1%. there are serious consequences and there are very few sides that this has an offramp. kathleen: the latest tariffs are heavily on u.s. fuel products industry is dependent on oils. this could affect the global oil market. why is that? china --s curious in and china has not give a -- given a clear answer. point to the fact that china is running out of u.s. goods a can add additional tariffs to. another one is the fact that this is a sector of industry that has trumps support and one the president would like to see do well. there may be a political element to that. china has also been working pretty hard to diversify a way particularly with the middle east building ties. they're heavily dependent on many of these products from the u.s.. t

let's get back to ubs' wayne gordon.low into safe havens has seen the like of this, treasuries as well as u.s. dollar. gold has been absent in the picture of demand. why is that? wayne: look, haidi, i think the key drivers of gold tend to be, aside from some of the things you mentioned, real rates in the united states as well as u.s. equity market volatility, and you add onto that the u.s. dollar. gold is a non-interest-bearing u.s. dollar asset, so, consequently, given that the u.s. equity market has continued to do very well, the vix index has come down a lot from where we saw it around the mid-february mark, and the u.s. dollar has been on strong footing, and real rates in the united states have been ticking higher. all of those factors, withstanding the issues in emerging markets, have encouraged investors to move to the u.s. and hold u.s. assets, but not particularly gold. at the same time, what we've seen is significant depreciation to currencies such as the yuan, the rupee. those big physical demands for china,is-

people, complaining of the fact that they are flooded by tourism and this has been fuelled by aianb and ubeies. many places are grateful to these companies for increasing tourism and argentina could possibly do with a bit more considering their situation. this is this is about the residents complaining that there are too many tourists. lots of tourists having to queue behind backpackers. ways to resolve these issues both it increases and boosts economy is. we complain when we do not have enough tourism. and if you are saving and borrowing for your holiday, don't use wonga. they are folding. a taste of your own medicine. 5800% interest. so if you borrow £250, it will cost you £150. it is outrageous. so what has happened is that the average loan from wonga and everytime there is a complaint it costs wonga 500 and 50, 500 £90. so that outweighs anything they will make. more complaints about wonga, it does raise 10 million recently from investors. 10 million is not a lot of money so that is not enough for wonga and the trouble they are in. one might ask if this should have happened a long time

let's begin our roundup with top interviews with the president of ubs's investment bank.e lacqua asked about his outlook for the second half of the year. >> we're going to see more volatility, we expect to see some pullback, but to finish the year up. >> but you are not predicting a recession, that would be the end of the cycle coupled with the central bank or anything like that? >> at this point in time, absolutely not. >> what do your clients ask of you? >> i think it's the difference between an economy and a background that is very buoyant, and markets which are a lot more volatile, and how do you navigate that? specifically in europe and in the u.k., events that are keeping this block behind the u.s. in the emerging markets. >> if you look at m&a in europe, how is that going? >> it is going quite well. people can extract synergies reposition their portfolio, improve their prospects, become more efficient by merging and taking out cost or refocusing the way they do business. that has been quite good, and actually, we are said to have a -- we are set to have a record ye

ubs asset management director of allocation. here is a roundup of stories you need to know.omberg subscribers can go to dayb on terminals. also available on the anywhere app. you can customize settings so you just get news on the industries and assets you care about. this is bloomberg. ♪ s is bloomberg. ♪ tesla.let's get more on shares soaring in late trade. abigail doolittle has been monitoring earnings. what stood out to this? abigail: this call is pretty extraordinary for an earnings report. these are the shares of tesla during the day. post market after they reported, popping 3% to 4%. they are on pace to produce 5000 model threes per day. profitability is close and the call started around 5:30. the ceo of the company adopting a very positive, upbeat tone, having his wall street friendly had. the stoxx started to take off. then when the call was opened to analysts, the first analyst taken from bernstein, who, on the last call elon musk called a burn head -- a bonehead, he immediately apologized and said he was sleeping private and set the tone. he apologized to the

analysts from ubs say the car's build quality is disappointing for a $49,000 car.the market crash if trump is impeached? here is what analysts say. they point out stocks continued to rise during the clinton impeachment, at the time of the internet boom, and that corporate earnings remain strong, partly thanks to his tax cuts. and don't forget, let us know what you are spotting online. use the hashtag #bbcthebriefing. up next, newsbriefing. the eden project says it wants to build an offshoot of the cornish attraction in the lancashire town of morecambe. john maguire has visited the proposed site. morecambe is rightly proud of its past. these pictures almost 120 yea rs old past. these pictures almost 120 years old showed just how popular this seaside town once was. and, with an eye on that history, its annual vintage by the sea festival, which takes place next weekend, brings in around 40,000 visitors. but now, it is this space age vision that could propel morecambe into the future. this is the eden project, in cornwall, a major visitor attraction. and now there are

. >> not a lot of people realize, before ube and airbnb,he is task rabbit. how did you come up with the idea to have an online platform to convince people wed ne people to run errands for them. >> you know, back in 200his is not an obvious idea. this is long before you would jump in a stranger's car off the street, right? but i was sitting at home one night with her. husban we were getting ready to go out to din interi realized we were out of dog food. it was a cold and snowy outside. we didn't want to go out. we were like there has to be someone out there to help was e job. four months earlier, the iphone had just ce out. and i knew that i could build a plan form tha connected me with someone in real time and that is where the yt was gornl. >> it was a cuff and the quef started to change. there were trends in the waypl that p wanted to find jobs and earn run and they wanted flexibility in the za to day. the idea for fafk and a normalization 340e6 and i don't think that these two ideas of having benefits and security and sort of the safety net along with the

with ubs portfolio management here in the u.s.is a lot of comfort happiness, dare i say froth or you feel this is substantive? >> this is not an economics thing. this is not emotional thing only. stan fisher gave a speech at federal reserve if there was a shift in the animal spirits the fed would have to reanalyze. liz: define animal spirits. we throw terms out. we assume people know what we're talking about. spontaneous optimism. >> keynesian concept if you have people more positive they spend with the numbers. you saw it with president trump running for office. you see it. larry kudlow speaking a couple weeks ago, a week ago at the cabinet meeting he talks about confidence is everything. you see the numbers getting positive and more positive. even on a day where we're in the wake of these news stories all over the place about the president, you see that the market is down on very light volume. liz: not every boat can rise with this tide. it just makes sense there would be a lot of winning sectors but a few losers. what do you se

effectively for every ub item we sell, another ub item is donated through a classroom in need right here really just that simple. >> and the way it works is you buy everything -- everything i buy, something immediately gets bought which adds up to i think a purchase every couple of seconds that is being then turned over to the schools which adds up to how much? >> this past year we've provided free school supplies to over 1 million kids. that's 37,000 teachers that didn't need to spend money out of their own pockets on supplies. in the u.s. alone, its kind of incredible. teachers are spending over $500 out of their own pocket each and every year. that's over $1.6 billion a year of teachers' salaries. >> i always heard these numbers about how much they're spending. i didn't realize that its 99% of teachers that are spending money out of their own pockets. this isn't just something that happens in poorer school districts, but its happening across the country. when you think about teacher's and their annual salaries, its about $60,000 so that's a significant chunk of their pay, their take h

joining us from boston is geoff dennis, ubs had of global emergency market -- ubs head of global emergencydo you feel there is panic or is a capitulation? geoff: i do not think it is capitulation. we put a note out a couple of weeks ago where we said, we thought a lot of evidence was deteriorated badly in em, but we are far from capitulation levels. what you saw were to delve phases of selling. we had a rae food week -- we had a very, very week of selling driven by the crisis in turkey. thespillover effects on euro being weaker, the dollar being stronger. then we had a bit of a pause with a nice rebound as the dollar softened. and now we are back into a price environment. i think we should not overdo the price environment. what is going on here, it is making the asset classes look obvious a rather weak at the moment again. alix: let's break down some of the brats. i want to start off with turkey. we want to look at what happened to the currency so far. a record low after record low. the deputy governor set to resign. not going to participate in traditional monetary policy like in argentina

bring in former ceo and chairman of ubs america, fox news contributor, robert wolf. >> great to see youyl. cheryl: what do you make of the morgan stanley call? came out of nowhere. we have seen positive commentary and morgan said not to fast? >> i understand a bit of nervousness, what he says, fed tightening, possible protection ist environment those things don't feel so great. today consumer confidence came out. 17-year high. cheryl: that is great but dow went negative. >> my point in 2000, i've been on wall street 30 plus years, in 2000 we were on record pace in the nasdaq and the dow. the nasdaq started a bear market in 2000 to 2002. it got crushed 50%. we had record high in consumer confidence. so i'm not making comparison. i'm just saying that consumer confidence, record high, 17 years ago started a bear market for two years t was between mid 2,000, january 2,000, obviously, you know post 9/11. i was a little nervous because i think you had a little bit of a sugar high with the tax trade forward. earnings are good, balance sheet is strong. they're using a lot of it for buybacks and

in a series of text messages, he xpletivehootinbeat ube the out of the uber driver. the sheriff said the shooting was justified. >> this is a classic stand your ground case. . >> r butep his family disagrees telling nbc newsws they're angre at the ff's handling of theehand case saying they believe the te uber driver had plenty of time toto leave the scene. stand on stand your gro cases, here's there's no duty n to retreat. the sheriff's office says onceal westlake had aed concealed carr he feelsaid h for the family sah wish the whole thing never appened. no one goes out with a concealet carryo permit looking to use their firearm. they have it in casee they need them to usese it to protect themselvm or others. >> here's aes tor message the h heads help don't do that stuff. good people carrynd guns they r will shoot you. >> what a isbo uber saying abou this, gabe? >> lawyer, uber says it prohibitri rs and their guests from carrying firearms of any kind to the extent of applicable law. the company also says westlake y has been suspended as one of its drivers pending an

to the divide that exists between where the president's mind is and the large bureaucratic body in ub that has never had any about russian interference. i think it is damaging so far at we are not preg a unified front. n'e president and the people that work for him't look unified, and that sends a horrible signal to ouralartners and es. rajini: what signal does that send to moscow? jeffrey: moscow in a certain sense is very pleased with the division in our institutions. that is one of the overarching goals, to undermine western institutions. i' seen accounts were they think they had won too big at helsinki, in the sense tt there were other things they wanted to get done and the backlash to the press conference is so big that they may not be able to do thare but they arey pleased with how they are looking right now. rajini: and with the midterms, concerns about interference in that. what can the administration do is conin that? jeffrey: we saw n europe and the meddling in european elections, one of the biggest things you can do is make people aware. we have infrastructure things to do.

ishie: the aipac head of ubs wealthy. they have yet to find a floor.nal, see on the we are anticipating that with theyuan bottoming out, will eventually follow suit. even with monday's rally, the shanghai composite is still in a bear market, trading at a cheap 10 times forward earnings. plus, turnover is near the lowest in four years. ups is recommending -- andicularly as banks state-owned giants are expected to suffer from an eventual return to tighter policy. more of china's lenders -- analysts expect stable growth for profit in the second quarter, but the outlook is looking lackluster with concerns over margin growth as well as asset qualities. sophie, thank you. apple taking a page from its own playbook. it plans to triple down on the iphone x, offering yet again three new models. the new devices will have a wider range of prices, features, and sizes to increase their appeal. color is different as well. let's bring in mark gurman, who couple of -- who covers all things apple. is this just another s year? mark: definitely. the focus is going to be o

ubs is looking at applying recommendation algorithms to its clients. the middleman. this is what they're suggesting. individual clients that do speak to someone each day before they buy and sell stock as opposed to discretionary accounts it's not a bad idea to filter through the process. >> trading at high pace, where you think it could carve out a difference but you're not talking about the brokerage accounts, you're talking about discretionary accounts this will settle in the middle >> i think big banks are trying to get more use out of big data. >> sure, i can't quite see if it -- it's almost like a trading strategy which hedge fund uses it >> ask questions, ask your broker >> big look. macy's will be the headliner on wednesday, walmart, nordstrom, jcpenney on wednesday. we got the last jdp report, it showed 4% growth in consumer spending the stocks have improved they've gotten inventory levels under control, i think it's going to be a tale of winners and losers for where that spending is going. >> the two consumer stocks were top and bottom the two

ubs updating the price target at the firm predicting a 50% rally from here making a space acquisitionlso the china trade talks all helping this stock mark tepper with strategic wealth partners and bill beruth is with blue line futures. from a technical perspective are you a buyer of boeing? >> i am a buyer. there is a nice move coming off the 200 day moving average it fits it perfectly yesterday on the low that double bottomed a couple months back. there is some tremendous momentum right now i do think we'll see a move about 360 in the coming days from there if some of the fundamentals line up the u.s. and china continue to be a tail wind we could continue to break out above the trend line yes, we're going to see a much, much stronger gain from there. >> mark, boeing is a big exporter could be vulnerable to problems in the emerging world, especially china are you ready to get back in >> yeah. we like boeing a lot we agree with bill i mean, this is all about demand and demand is increasing because you've got a lot of improvement in both passenger and freight traffic. boeing estimates t

ube u.s. economy has strengthenedantially and more important for markets.e said the strong economic performance hexpects to continue. he also said the federal reserve would do whatever it takes if inflation becomes unanchored. ae fed looking for a 2% inflation targe inflation is right about there now. there was a concern that powell expressed about whether or not e fed ought to be looking at inflation or perhaps in financial mowkets andl saying in the speech in the run-up to the past two recessions and ildesting excesses appeared mainly in financial markets rather than inflation and the risk management suggests looking beyond inflation for signs ofss ex and powell will be looking carefully for signs of whether or not the fed ises raising r too slowly. there are a lot of issras for the fereserve to worry about including global contagion s.d trade w jim buller said this august is a lot different from past augusts when the fed met under crisis conditions. ot would we have been in the situation as we are today for a long time. i think coming out here, a of time

united statest saw a b during the trading day and boeing also benefitted from an upgrade from broker ubsher dowrs win include cisco and walmart, both were higher on excellent earning results. walmart had its best trading day sincer novem of 2017 nearly a year ago. >> bob joins us now from the new york stock exchange. nice tie, by theay. we started the week out with concerns about turkey and the turkish financi crisis and the market sold off and then there were concerns about retailers, macy's and home depot even though they had good numbers and a sell-off and today, a rally with talk of grade with china. this market has a very short-term mery, doesn't it? >> it does, but there is an oval theme here and that is that the mark clearly moves the most whenever you're dealing with strong dollar issues and when you're dealing with trade and you're dealing with weakness in ths, global mark particularly weakness in china. so look at monday, down esday, y up day, wednesday, down day. what ties these days together is the market tends to be down on days when there are global growth concerns and stro

we have the resident scholar at google, and paul donovan of ubs is still with us.t happens to greece next? guest: greece will enter a period of so-called enhanced surveillance. and also, even though the bailout ends today, greece will continue to have to comply in rather tight conditions, partly led to a large primary surplus, but they have to implement reforms like labor market and other public organization reforms. francine: zsolt, what do you agree is the best case? not a matter of time, imf rain gear it must more depends on what kind of policies the government will be able to depends onmore what kinds of policies the government will begin to implement. net investment is actually negative, and lighting the capital -- implying the capital stock is on the decline. attract foreign investors. the government will have to regain trust, then greece can be competitive, otherwise, i am afraid the country will struggle for many decades to come. francine: paul donovan, if you look at the speed at which you resolve civil disputes, which is one of the concerns, it is still s

there are around one million workers who are working on ridesharing platforms like ube r and lyft. we need to update our social contract. make contributions to social security. we should extend social protections to workers and the emerging platform economy but only extend the ones that make sense so that we can maintain the benefits of the flexibility for these new types of jobs. i also think it is important that we rebalance our labor laws so that workers get a fair shake in the economy. one example to highlight has to do with no poaching agreements. it is illegal for companies to have an agreement that they will not hire workers away from each other. but there is a gray area when it comes to franchise chains. mcdonald's for over 30 years has had a clause which prohibited its franchisees from hiring workers away from other thisald's' franchisees, falls in a gray area, with a separate or not? just last week, the attorney general in the state of washington reached an agreement with seven of the largest fast food franchise companies, including mcdonald's, jimmy john's, cinnabon, to

i look at a ubs investor watch survey that said 70% of the businesses they surveyed believed that chinaonald trump's stand, imposing tariffs on china. and let's be honest about this. the democratic party's position on trade and tariffs is pretty unclear, anyway, because we all remember that in the last presidential election, bernie sanders and a whole bunch of very important democratic supporters of his, actually supported tearing up the various trade deals, including the tra ns—pacific partnership, and nafta, so the democratic party's position on this is all over the map. well, the democratic party position is, listen, we understand that it is important to have healthy companies, because healthy companies are strong companies that can provide benefits for the workers. we believe in making sure that we protect the rights of workers and believe in making sure there is opportunity for workers. we don't believe in starting tariff wars and trade wars and not having any strategy or direction for what — for why we are doing it. donald trump wakes up one morning and says, "you know what, i gue

. >> reporter: how a mixup over an ub started it all. >>> highway shootout, a suspect struggles bs with police, g gun and opens fire. all of it caught on dashcam. >> announcer: this is "nbc nightly news" with lestelt. >>> good evening and thank you for beinth s on this friday. she became a reality tv icon thanks to na trump who fired her multiple times as an apprentice and later as a presidential aid and now the known to most only as omarosa ak isg a nasty parting shot with a book that makes serious racially charged allegations against dold trump. it's an eyebrow raising turnabout for someone hired to build n bridges betw president and the african american community.kr outen welker has details and reaction. >> reporte tonight, from the former reality tv villain turned ousted trump aid, omarosa manigault-newman making explosive but unverifi accusations casting president trump as racist and unqualified including allegations three peop told her the president frequently used the "n" word during the tapings of the first season of "the apprentice" t riting ll told me tesident trump hadn't jus

ubs, jpmorgan, bmo capital raising their price target on iac.wilio popping after the cloud communications company boasted a surprise profit compared to an expected loss and cited growth in voice and messaging products and then there is etsy, which surprised analysts, upping the full year outlook, jumping more than 10% for the week. the rally we have seen in online consumer oriented companies like these continues to speak to the overall firmness of the consumer economy. so who knows, maybe it is time to call these the junior f.a.n.g. names scott, back to you. >> call them something, seema. thank you very much. the performance has been great mike coe, how do you bet on these? >> we'll look at math now. and specifically we'll look at selling a put. why are we looking to sell a put? buying a stock here, stock is right now trading at an all time high we might want to own it at a slightly lower price we're looking to sell options. options on the stock like match are extremely expensive. finally, when we sell options, we usually improve the probability

it actually shows that lockheed are currently well below the $400 price target we saw from ubs and well of wall street in general, suggesting there is some room for those stocks to grow. /and -- scarlet: and you were telling us earlier that lockheed could get news from washington that could propel it? emma: that is absolutely right. it will be taking up a spending bill that includes defense and will finish it next week in the defense department. they could receive some $675 billion in discretionary funding if the bills passed as they left the senate appropriations committee. lockheed would be likely to take a big chunk of that. we got something years for you that show that lockheed is, in fact, the top defense contractor. we should be able to bring up a graphic to show you this. as of last year, the department of defense with allocating lockheed more than $50 million -- $50 billion. so we might as well talk about big spending on a slightly smaller scale. you have been covering this sector? a: i have been. macy's, i have also been looking at some of the smaller niche companies that are t

anding us is andrew levin from chicago, thomas digenan a -- from ubs.ake the argument this is a trend slow down, turkey political issue, or trade issue? >> one crucial issue is china. not just about the current trade friction. hopefully those will be resolved but it will be a tough bargaining -- tough negotiation. there are bigger structural issues china has been facing about shifting from an investment-based export-based economy to a more consumer-based economy. like we have seen in the u.s., strong retail sales and consumer striving the u.s. economy because consumers feel confident. what we have seen in china is something very different. retail spending is weakening and fixed investment at record low levels. i imagine that is making commodity investors, commodity producers uneasy all over the world because historically in the last 10-15 years, china has been a huge driver of commodity booms. david: we see increasing divergence in the u.s. and the rest of the world, in various places. equities, a chart that shows the u.s. numbers, the blue number at th

vonnie: the on brexit, you had a macro -- beyond brexit, you used to be with ubs wealth management, notility in some markets but in currency markets, a lot of excitements, have you macro strategies attached to currency movements right now? yes, the turkish lira has seen extreme volatility but not this week because they have had market holidays. that has been the -- you do see every few years, particularly in emerging markets, it has some spillover affect into other currencies, particularly emerging currencies where investors look at what is going on in turkey and who will be next? do the same things that are bothering the turkish lira. a source of much greater opportunity going forward in the currency space. vonnie: in other words, are you buying? what are you doing to take advantage of that? thomas: we are buying the lira but we did not wait to buy until the low over a week ago. it was a painful exercise. rarelyoves come along and offer significant opportunities and high returns and general. the turkish lira depreciated drastically, 35%, 40% last year -- this year and went down last ye

ali mccartney, ubs wealth management.hat was july heat wave coming into august right now? >> i think it will continue. august is pretty quiet month in terms who is around. oil moved down on trade concerns. there is still a lot of movement. people are still reacting. this is the time, we saw first last week we finally saw growth and value sort of pivot and value trade start to work. value trade based where we are in late-stage cycle. it is really important be thoughtful where you're invested. time to get into energy. today gives you a buying opportunity on that. liz: okay. >> we're 40-year low in terms of price to book on that. really meaningful thing to talk about, country energy independent. coming out after market with huge demand constraints. now we're a little bit supply constrained. financials, we're really bullish on financials. you have a great macroeconomic environment. you have one area less sensitive to -- protectist rhetoric. super low defoughts rates in the world and you have much easier regulatory environment

potential ubs see a upside to the stock. there are also metals producers that are bouncing back today. if you look your we have a broad rally. copper features are bouncing. several of those that are gaining in today's session. to put it in perspective, look at the bloomberg at these metals prices. you have gold in white. copper in blue. zinc in yellow. it have big games today, but hardly registers as a blip when you look at the week year today. that is something to keep in mind as we look at the bow for we are seeing today. finally, bringing it back to the u.s. stocks. we have what's going on with the retailers, with the exception of macy's which is bouncing back little bit after yesterday's decline. jcpenney is really pulling down the department store group after they posted a wider loss than estimated. they will continue to lose money for the full year. we have walmart on the one hand yes but then we have the other department stores. sears has been consistently week as well. kohl's is also going to be reporting. we will se

nice call on boeing over at ubs. this is going to help the dow.usly walmart's blow-out numbers. now some headlines from the turkish finance minister no plans for capital controls. no imf plans focus on attracting foreign direct investment. free market principles will be our framework. that's probably going to help a little bit >> i think so. the imf came in there in 1993, pretty much wrecked them the imf always gets its man. they instill a level of discipline that's frankly mission impossible but they get it done. i do think that turkey's side show -- notice last night china opened down very badly our futures were therefore muted. then china came back a little. then as china futures came back then you started see u.s. futures go up. people feel that last half-our move was a sense that some people knew that maybe china talks could start again. it is probably the most important story out there given the fact that much of the nature of our market has to do with the industrials -- >> well said yuan up the most in about six months >> they're trying. ma

boeing that gets a quarter of its money from the people's public and boeing because of the cash flow the ubs evidence slab, like csi, notes the people are underestimating boeing's revenue stream and fixation for making a lot more money this call would have been ignored entirely except today we had visions of chinese capitulations dancing in your head if boeing goes higher you buy honeywell, caterpillar and others and the chance of an apple boycott, hence why that stock was an all day rally and the big stocks off turkey but the turkey burger gave these stocks a chance to rebound. keep track of the stock of goldman sachs here we seem to have forgotten already warren buffet bought a ton of shares. he's not a flipper, an owner and american express rally let's return to where we started, the largest retailer in the world, walmart, time and time again a good number and the stock flies up and then we discover there was one time gain, good health or family on the conference call. you rarely see the stock going up and going higher the more we found out and that's what happened on the stock of walmart

ubs global wealth management is still with us. your overweight u.s.r denominated foreign debt. this despite everything that happened in turkey? mark: i think the turkey situation gives you something of an opportunity. turkey is a relatively small share, less than 7% of that index. it is an opportunity to take advantage there because the yield seems to be strong. i think if there is further em weakness, that could be a place to add exposure. nejra: will we see further em weakness, particularly if the dollar strength might start to normalize and the dollar might even we can from here? case, thatat benefits the em assets if the dollar weakens. i don't think the message from the federal reserve was necessarily as dovish as many interpreted the action on friday. i think they're going to continue to be focused on the on theonomy and focused strength of the u.s. economy. they are on track for a hike in september. when the u.s. is acting on what is good for the u.s. economy, we don't yet know if it's actions will coincide with a period that is also strong for

>> i mean, ubs is a team we work with, they hired a team of engineers, spent four months ripping apartt car, tore apart chevy bolt, we have a detailed cost analysis that was performed. the model we tore apart was $49,000, it was a profitable model. when you look at taking away options of long range battery, trim, the base is $35,000 that would imply negative $6,000 operating loss per vehicle this car needs to sell in the low 40,000s to break even, and i think they're a long way from the 25% growth margin target unless they can sell it well over 50,000. i think that's a key take away obviously we compared it to other vehicles they had a better dollar per kilowatt hour than others. i don't think it is surprising they're ahead of where gm was with the volt last year. >> covers the company and covers the industry, he was saying teslas don't sell for $35,000 base price what they're making is ones in 45 to 55 range and in fact once the federal tax credit runs out, it is never going to be as affordable as the company originally planned >> that's absolutely true. one of the reasons we think th

charles: ubs did poll of businesses and they said are you okay with increasing tariffs on countries. 71% said. these are people who are in the business economy but we approve. 66% on mexico, 64% on europe, 64% on canada. businesses say they understand what is going on. i think they want us to fight back. >> i assuming in part they will not pay the tariffs, why they come up with this type of answer. if it hits them directly i'm pretty sure -- charles: you know why it hits directly, everyone of these guys, i will pass the price on, you know that, come on. it will not hit directly. >> there is difference between small and big. charles: wide variety. ups -- ubs has some of the best polls out there. >> small businesses tend to favor tariffs. 71% is not a small number. charles: not a small number. >> i think the important fact despite all the trade friction, all the bad news on tariffs president trump's popularity is rising according to the "rasmussen poll." charles: 29% of black americans. can you imagine that? that blew me away. guess what though, corroborated by the jobs numbers. if you

zbloor all right michael from ubs, it's great to talk to you.hank you. >> thank you >> fao schwartz is making a comeback, planning to open a new store in rockefeller center. how is it going to compete with amazon by making the store an experience wall street journal reporting the company isn't holding job interviews it's holding job auditions magicians, people in costumes, of course, and they need people to be able to play the big piano, like tom hanks and robert in "big. ♪ >> how young is tom hanks there? >> when was that movie wow. >> he was a kid. >> that just tells you how iconic fao schwartz is >> remember how big the store was on fifth avenue. it's where that apple store kind of is now. i'm curious about how they find a space larnl enough to accommodate that sort of experienceal retail. >> rockefeller center. >> but, also, what are the advantages there over where they have been up on fifth avenue just ten blocks or so. you know -- >> more expensive in rockefeller center >> i would think so. think of the foot traffic near the lego store and

. >> i didn't say that, ub did. i will expose the campaign and i will continue to proceed the whistle on all of this. >> not true. he didn't know. i know he didn't know. >> if he did in. >> i know it beyond being his lawyer. >> if he knew, is it a problem? >> no, and but, he didn't know. i'm not even going to get into a hypothetical. he did not know. >> omarosa did not offer everyday to back up that claim. it is not in her book. rom rosa claiming that the president used a disparaging nickname to describe his educationing is ditzy devos. it allegedly happened after she was booed to a historic black bethune university. the aid claims devos left town early and left her stranded in a hotel. she said, once i returned and told djt about what had happened, he shook his head in disgust. he said, she is ditzy devos, what do you expect? in a very short time, i'll get rid of her. they said this disgraced former white house employee is meddling lice for profit and the jokes about betsy devos. >>> the trial of paul manafort team

here today, jon and pete, erin brown at ubs mr. pete, what do you think? the markets not reacting to what happened yesterday all at once during 4:00 and 5:00 hour. does it not care >> i would think at some point, yeah, we'll see impact, but right now, the market is doing the right reaction of what's going on we'll have to see how this plays out. we've seen this time and time again because it's a little closer to president trump right now. but i think when you look at what's happening now, i'm still focused on the fact. they are the earnings season has been unbelievable. across the board, we've had almost nothing but great results. great growth the economy right now is humming along. could this absolutely derail it in some way, shape or form absolutely it could, but it's not necessarily today, so i think that's whey the markets are reacting the way they are. just a bla hrk day >> a lot of people argue even if the president gets in trouble because of this, you're not going to undo the tax cut, replace regulation the rollback will likely continue for a variet

police a fake ube driver is robbing riders.y on saturday mng, the victim called an uber and got into the car. the driver forced the victim to withdraw money from several different atms. police believe the men and woman are connected to at least three robberies. most happened along the busy u street corridor. >>> well, it's been almost one year since the deadly unite the right rally in charlottesville. >> the cities have declared states of emergencies as events are planned both charlottesville and here in our area. new news4's justin finch is there. >> reporter: rnn, good g. we do know that freedom plaza will be a counter protest. the national park service is processing a permit for about eo 1,000e to gather in this area and then march their way sunday over to lafayette square. and the rally is taking place in front of the white house. and d.c. police are sayg that is is something that they can handle. now, part of their plan will be to keep those groups separate. chief peter newsham did outline at plan in a closed-door meeting