vonnie: i'm vonnie quinn. earnings day for u.s. stocks.ghly 13% of the universe of s&p 500 companies are reporting today alone. julie hyman has a roundup of the hits and misses. we are not seeing a lot of change today because investors are looking for more direction from washington. we are seeing so many individual movers. a couple of surprises here. they are going in surprising directions. under armour posting a smaller loss than it had guided to back in january. since thee first loss company went public in 2005. those shares are soaring because of the lowered expectations. lowered also expectations. that was a smaller drop than estimated. the company says the first quarter was likely the first of the year and the shares are still down 2%. -- you willrom ea see that we have earnings growth reported for the s&p 500 of about 11% sales growth. just over 5.5%. growthto double-digit for companies in the s&p 500. one of the companies, ups in a little bit. still ahead, deutsche bank is apparently all dressed up with nowhere to grow. we'll explai

vonnie: i'm vonnie quinn.uropean close on "bloomberg markets." ♪ mark: we are going to take you from new york to london, plus, covering stories out of paris and washington. here are the top stories we're following on the bloomberg and from around the world. french election campaigning grinds to an early heart following the attack. -- an early halt following the attack. how are the elections faring with memories of brexit and the trump election still fresh? and: and bracing -- vonnie: bracing for the possibility of a marine le pen advance. we hear from pure moscovici. shouldsident trump

vonnie: i am vonnie quinn. this is bloomberg markets. to mergers and acquisitions and a big deal in the luxury space. a french billionaire is moving to consolidate control for about $3.2 billion as one of the biggest transactions ever. shares of both companies are higher on the news. bloomberg's robert williams has been covering this story from our paris bureau. buy?in, why would lvmh a pretty pay set. the company that makes the fashion accessories and handbags and clothing has actually been separate from the perfume and beauty business which lvmh has owned since the 1960's. so seeing these brought together under the umbrella of one company, by doing this you hope to have a greater impact and seek financing more easily. mark: but it is a two-part transaction. lvmh, butts not only permits as well. how have investors reacted? shares of lvmh have gone up 4%. i think investors are happy they are getting a share of the action of what is a relatively strong brand. they have around 2 billion euros every year in sales and it has grown 12% a year

vonnie: from new york i'm vonnie quinn. ossible by loomberg television] vonnie: we'll take you from new york to london in the next hour. plus covering stories out of syria, china, and bens knows air rest. here are the top stories from around bloomberg and around the world. the u.s. launches missile strikes against syria sending 59 tomahawk missiles toward a syrian air bass. we have the story covered from all angles from russian reaction and others. vonnie: the meeting with his chinese counterpart, is he pressing zi on critical issues such as trade? and south africa is hit with another credit downgrade. cuts the nation's debt to

vonnie quinn. live from london, i am mark barton, roughly 13 minutes away from the close of european tuesday session. is introducing a new model. a revamped iphone for the 10th anniversary, joining us is bloomberg technology reporter mark gurnan. tell us about the revamped version what specs it will have. mark g.: there will be three new models. one will be an overhaul. apple is testing curved glass, and more advanced cameras for this upgrade. mark: it comes at a critical time, doesn't it, not only for apple but it is looking over his shoulder at them some? mark g.: absolutely. samsung is coming out with their phone on friday the 21st and it has been recognized as a hit phone. it has a bunch of new features so apple would be going against this new phone, especially after it stale slide last year. actually has to use samsung is a supplier, right? mark g.: samsung will be supplying the panels for this iphone because other makers like japan display and sharp are not ready. vonnie: samsung is a winner

this is bloomberg. ♪ vonnie: i am vonnie quinn. i am mark barton. are rising today to mark the like bonds and goals, making investors cautiously optimistic after morgan stanley reported strong first-quarter results. larry fink weighed in on the importance of corporate earnings interview with bloomberg daybreak: americas a little earlier. >> earnings season is probably the most important issue for the markets today. the marketplace had higher expectations, quick actions out of our government related to tax infrastructure, and then deregulation. that will obviously take more time. if we don't have earnings validating these, we can adjust downward 5% or 10% from here. mark: also seeing signs of caution in the markets, cofounder and managing partner, he says volatility -- volatility measure reading -- great to see you in person. fink?us like larry where does your caution stem from? >> we are seeing diversion says from death between the stock market and bond markets and stocks and credit. and the hard data versus soft data, i'm concerned that stocks have

i am vonnie quinn.nks rally following present comes election partly in hope for tax cuts and regulations. today, a conversation with mike mayo. his take on financials. >> when it comes to the bank stress tests, continue the stress test with things, look at the crisis like situation, and only after the results are given back, should banks admit the capital plan. now it is a rolled the dice exercise, like red light-green light. there are like practical changes and i think republicans and democrats could agree on it. mark: i want to bring the focus here. credit suisse, the story today, raising capital, following unicredit. can you say that from where you are sitting, the european banks are addressing the capital related issues? >> european banks address the capital related issues eight years after the u.s. faced their banks. i would say that this was banks on some measures had more capital than some banks in the world. where thear below banks are. that hurt some of their business. .hey have been losing sha

vonnie: i am vonnie quinn. this is bloomberg markets. semi conductor plunging after an analyst warned apple will cut back on use of the company's chips. frankford with why the warning had such an impact is aaron reckitt dello. on the frank failing -- frankfurt stock exchange, this is a massive deal. is apple the only person that ?ere -- orders from dialogue wethis is the second time have seen these actions happen in this space of a week and a half. the trade on the frankfurt apple forthey rely on some 74% of their sales. , they are aey make specialist in these power management chips for the iphone and ipad. there is reports today from a german bank that said apple was starting to ramp up its own development for these power management chips and that dialogue was at risk and downgraded them to a sell. we saw a similar situation about a week and a half ago. mark: if you were a company like imagination or dialog, if you are an investor and are thinking what is coming our way? aaron: the dialogue shares atnged, they lost over 66% one point bu

i am vonnie quinn. mark: this is "bloomberg markets."chandra has more. emma: let's get you caught up with the first word news. neil gorsuch has taken the first of two oats as he prepares to take his place at the 113th justice of the supreme court. he was sworn in this morning after a contentious political fight in the senate. the first ceremony takes place privately at the court. there will be a public white house ceremony a short amount of time from now. in sweden, people are questioning the country's open immigration policy in the wake of the truck rampage that killed four people. forsuspect had a request residency that was turned down. a second person has now been arrested in connection with the attack. in london, thousands lined the streets to kate -- streets to say goodbye to the officer killed in the westminster attack. theing in the u.k., during 2008 financial crisis, the bank of england repeatedly pressured commercial banks to lower their settings for the libor rate according to the bbc which cites a secret recording of a senior

i am vonnie quinn.sident trump meets with chinese president xi jinping in mar-a-lago. he is expected to touch down in florida later this hour, the china president. trump will land in the 2:00 p.m. hour or it the table -- north korea, trade. before he left town, the u.s. president prodded closer boko leaders to make last minute tweaks. joining us now from palm beach is kevin cirilli. we have an amendment, kevin. give us the details. kevin: before we talk about china, we have to talk about the efforts of republicans to repeal parts of the affordable care act, or obamacare come around to. round two.care, republicans in alabama working with gop leadership, led by house speaker paul ryan, to announce a commitment that would essentially be a risk-sharing fund. republicans in saying this is just another step closer to repealing parts of the affordable care act. there is what house speaker paul ryan had to say earlier this morning. speaker ryan: while we have worked to do to get all the way there, we have made

vonnie: i'm vonnie quinn. "bloomberg markets." u.s. oil inventories are about to come out, calling for a drawdown in stockpiles earlier. developed nations cut inventories by 23 million barrels in february, sending food on a seven-it winning -- seven -- sending crude on a seven-day winning streak. we got a julie hyman. julie: 2.1 7 million barrels draw down there. this was larger even that came out last night as well. there was a built in cushing, .klahoma the drawdown in gasoline and distillates larger than estimated. gasoline inventories, nearly 3 million barrels. isdates, 2.2 milion barrels. --inery utilization and 02 0.2%. let's look at my terminal. it looks like that is showing a little more clearly the reaction, the leg up we are seeing after oil had taken a leg down. this point. you can get more analysis on this inventories report not just today but every wednesday on our block on the bloomberg, where a lot of different reporters and analysts weigh in on this report every single week. it looks like oil i

i'm vonnie quinn. julie hyman is here with a check on the markets.we have the cyclical bleeding energy industrials and financials in a classic transition out of real estate, committees, and telecom. we have big earnings reports good on the downside, verizon medication tops a list. that company coming out and saying it had its worst fiber loss in more than a decade as it still decides to sell a limited mobile data. ebay coming after the close yesterday. that company cost turnaround efforts bearing as much fruit as investors would've liked it revenue in the current quarter looks like it could trail analyst cost estimates -- s cost estimates. railroads are higher. they beat estimates. mark? -- hereclicals versus as well. corporate results giving investors a lift. first reported its revenue growth ahead of estimates and an uptick in improvementaling an in the sluggish feeling beverage market. unilever reporting quarterly sales growth, affirming its outlook for the year. this is a company that had a takeover from kraft heinz. and japanese exports grew at

i am vonnie quinn. nejra: i am nejra cehic.is bloomberg markets. let's check in with the bloomberg first word news with emma chandra from new york. petersburg, authorities say a homemade bomb exploded on a subway train. 10 people were killed and dozens were wounded. authorities have found and the activated a bomb at another subway station in the city. opening aanel is weeklong partisan showdown over president trump's supreme court nominee. this comes as democrats are steadily amassing both to block neil gorsuch forcing republicans to unilaterally change long-standing rules to how confirmations work. put hispected to nomination to the whole senate. president trump's son-in-law jared kushner is expanding his foreign-policy role. he is visiting iraq with the chairman of the joint chiefs of staff. peace, relations with canada and mexico at a summit later this week but china's president xi jinping. in venezuela, the president backs away from a move to increase his power. it is to strip authority from the opposition led assembly. sup

i am vonnie quinn. rey is still with us along with paul. .> thanks again, vonnie we hinted at this earlier. there is a lot of uncertainty as it relates to the trump administration. they tried to replace and repeal obamacare. there are other things that impact m&a like tax cuts or infrastructure. helpinghat harming or the m&a environment? >> it is a great question because uncertainty is not helpful for m&a and there are a lot of things that fall into that category. will there be a tax holiday? did actnsors get the ability. and some larger questions, where will the national security review go? it speaks to a bigger issue. , there arencertainty opportunities for savvy acquirers who can do deals. theaw this with brexit, classic example of using uncertainty to your benefit. good point. now is the time if you are a see you know you willing to take that risk when you don't know? i think we thought the tax reform package will be an easy thing for donald trump with the republican house and senate. who knows? ther

i am vonnie quinn. welcome to bloomberg markets.g to take you from in thiscisco to detroit hour. here are the top stories around the world we are following. the u.s. stocks are near session lows, despite strong manufacturing data. financials, energy materials leading the s&p 500 lower. crude near $50 a barrel after libya's output is said to have rebounded. imagination technologies are having their worst day ever, plunging more than 60% after apple notified imagination it is cutting ties within the next two years. the news is weighing on shares of other suppliers as well. auto sales numbers are falling short of estimates, despite heavy incentives

vonnie: i am vonnie quinn.his is bloomberg markets. time for futures and focus segment. that's go down to the cme. joining us is ted seifreid of the zaner group. talk little bit about gold. where the 1280 mark. we saw plenty of safe haven buying. is this all safe haven-related? safe haven-related with the global issues we are seeing. there has been talk about france possibly leaving the eu, and that is driving that as well. speculators have gotten involved. when you look at the chart, it is interesting. there larger speculators and smaller speculators, they're getting it. on the cash that of things, zaner precious metals division is not saying that. we are not get that cash buying we would normally see. in fact, we are seeing dealers turned in a fair amount of stock at these prices. so you think gold has a tremendous amount of resistance up between the 1300 and 1350 range. i think would be optimistic to think we can get to that or see a trade through that. vonnie: what about oil got go we had separate news been

vonnie quinn and i am vonnie quinn.peaking at is the deputy governor of the people's bank of china. today's time. you know, first on the chinese economy, the chinese economy had recently been stabilized. of thisfirst quarter ,ear, the gdp growth rate, 6.9% a little bit higher than most people expected. 1.4%. is i over we have a higher pp 7%. that was expected. partlso, the very strong imports andmy is exports. imports and exports had been very strong this quarter. the total export and import volume surged 21.8% in the first , in which exports increased 14.8% and imports increased to 31%. that is partially reflecting the of the trading market and also the strong import to china. reflecting relatively stronger domestic economies. across the commodity prices. so with that kind of relatively robust economic growth, i say are the reason behind that several reasons. first, the domestic demand is stronger right now. economy, the external has recovered, reflecting the international trade margin. and thirdly, the energy and comm

i'm vonnie quinn.et a check on bloomberg first word news with mark crumpton. state,.s. secretary of >> tillerson arrived in moscow to try to end moscow's support for syrian president bush are all assad. he kremlin spokesperson calls that absurd. tillerson is meeting with president putin and survey minister sergei live rauf. he has talked about contradictory ideas from the u.s. and rejects the idea that russian was behind the chemical attack. >> u.s. secretaries of state tillerson is talking in moscow and we welcome this direct, high-level diplomatic engagement at this crucial moment between the united states and russia. isk: senator john mccain congratulating montenegro for its upcoming nato membership and criticizing russia for its alleged attempts to interfere in the balkans. speaking in montenegro today, senator mccain said the russian behavior is not acceptable. mccain was a prisoner of war during the vietnam war and is one of the strongest supporters of expanding nato in europe. a lawyer for one o

i am vonnie quinn and welcome to bloomberg markets.mberg world headquarters in new york we are going to take you from new york to washington and moscow in this hour. here are the top stories we are following. russian president vladimir putin meeting right now with u.s. secretary of state rex tillerson. he is also met with russian foreign minister sergey lavrov in the kremlin. this is according to a government spokesman. russia pushing back against demands that it abandon syrian leader bashar al-assad over a chemical weapons attack. in markets, u.s. stocks are edging lower for a second day. over a backup of mounting political tension. treasury secretary larry summers says he sees more room for downsizing -- for downside and upsides.

i am vonnie quinn and welcome to bloomberg markets. ♪ vonnie: from bloomberg world headquarters in newu from washington, d.c. to seattle, and beijing this hour. there are the top stories that we are following. u.s. stocks are rising to a two-week high after the adp report showed the pace of hiring at its fastest pace since 2014 at all s&p 500 sectors in the green with industrials, materials, and consumer discretionary leading gains in the dollar and treasuries getting ahead of that minutes at 2:00 p.m. eastern. steve bannon removed from the national security council. we will have the latest on that bloomberg exclusive to later this hour, speaking with the former u.s. ambassador to china and former u.s. commerce secretary to get his insight ahead of the historic meeting tomorrow with president donald trump and the president of china.

vonnie: and i'm vonnie quinn. this is "bloomberg markets."ix may have a tough build on the strong momentum where they reported fourth quarter earnings. for more on what to look for, here's bloomberg media analyst paul sweeney with us. paul, netflix has been on a tear but others have been nipping at its heels including ulu and, you know, various broadcasters. how does netflix hold on? paul: the advantage netflix has had is they have the tremendous brand identity. netflix, it's like the kleenex of streamer. they have mover advantage certainly here in the u.s. and many of the european markets. third thing is they have a very large checkbook. they are able to buy and/or develop a tremendous amount of original programming and high quality programming and that's kind have been their calling card. but it really has been a race for subscribers globally. they are approaching 100 million subscribers globally, about half in the u.s., half outside the u.s. so they have established a dominant position. but you're right. there are a lot of competitors out

i am vonnie quinn in new york city. this breaking story on the bloomberg, which i told you about a few seconds go. the infrastructure company atlantia is exploring a takeover offer of the spanish tollway alber tis. roantia owns an italian adway firm. the company valued at 20 billion euros. albertis has risen on the year. a burtis was pushed to acquire atlantia. atlantia said in october that they plan to boost earnings abroad by acquiring airports and highway assets outside italy. atlantia chief executive is raising funds for potential purchases as a strategy to reduce pendency on the home market. they would create a company with combined annual revenue of more than 10 billion euros. that is pacing their french rival. we will keep an eye on this. it is an interesting breaking story. vonnie: fascinating. it is time for our smart-beta segment. attention onmost smart-beta goes to value and momentum. linked to $40 billion, it inspired goldman to join the party. joining me is eric balchunas. weighting is not a fancy smart-bet

this is bloomberg markets and i am vonnie quinn. many companies say president trump's proposed corporate tax plans would be good for their bottom line. morrison home corporation -- one of the largest home-building trumps taxn the u.s. plan is generated interest among homeowners. is home corporation chairman and ceo sharon palmer coming to us from our d.c. bureau. the stock is trading quite nicely. it is a multi-year high. have seen a pickup and interest in home buying. the country where you are most active, california, the western sunny states. guest: great to be here today. host: where's the growth going to come? >> we are in many of the top markets across the u.s.. in arizona, california, colorado texas him the carolinas, georgia. to continue to focus on the markets we are in. >> is there any concern there may be some frost -- some frothiness in those markets. many private equity people bought up a lot of homes. any concern that may impact taylor morrison in the near future? >> we continue to raise prices in a number of our commun

i'm vonnie quinn. every monday we zero in on the m&a and analysis from the biggest players behind the deals. deals reporter alex is here with a special guest, alex. alex: thanks, vonny. i'm here with vito sperduto head of m&a at capital markets. thank you for being here. vito: good to be here. alex: i happened to see google put out its own search statement saying the search term world war iii has had a giant spike recently obviously with all the international tensions. you are the head of m&a. you did a lot of work for defense at aerospace companies. clearly the united states wants to dedicate more money toward military spending. they put out a proposed budget that says more money. from an m&a standpoint do we expect a lot of activity in the defense and aerospace world? vito: i think we do expect a lot of activity. you talked about the budget. the 2018 budget talks about a defense spending increase of 10% which is about $574 billion. also importantly you have the veterans administration and homeland sec

vonnie: i'm vonnie quinn. lot about tax reform. bank of america merrill lynch head of global economic research joined bloomberg earlier. >> i think we need to recognize the agenda before congress right now is massive. these are complex legislations. very complicated, a lot of new bells and whistles. health care reform is always tough. it took obama 13 months to get his health plan through. att we are looking for is what point do leaders in congress start to scale back the bills and try to be a lot less ambitious in what they are trying to do? on tax reform, if you go back a year, people were not talking about tax reform, but international corporate tax reform, fixing this problem where we discourage companies wem locating the u.s., where have much higher corporate rates than other countries. that should be the focus. that is where the biggest problem in the tax system is right now. if they can pivot to that and simplify the bill, then i could see significant progress in tax reform. if they continue to push for

i am mark barton with vonnie quinn.nks moving up with bond yields, autos moving up on the back of strong auto sales data out of the euro area. by 11%, european car sales in march. biggest decline yesterday, 1.1%, since november. the yellow line is the ftse small cap, the purple the ftse and the blue line the ftse 250. yesterday we saw the foot the wake offtse sink in the the may announcement to call a snap election. sterling's rally pushing the ftse 100 lower and it is down again today. higher and the ftse midcap is unchanged. the ftse down for a fourth day, the worst since march. these are three indices that have rallied since the initial selloff post the brexit vote in june last year. i am not going to show you sterling against the dollar. i am going to show you the intraday swing between the pound and dollar. this chart takes the spread of the high price and low price for sterling on any given date, and it goes for over a year. in the last year the only time this was a wider spread than yesterday was brexit, and octo

i am vonnie quinn. brick and mortar retailers have seen sales decline.dvanced of what is being called online personal styling services. customers can get expert fashion feedback, try on clothing, and return what they don't like. -- dia&company recently received $20 million in venture funding from sequoia capital. the cofounder and ceo not a ujarwa tellsnadia bo the story. nadia: we are personal styling company for women size 14 and above. of apparelp only 17% in the u.s. we were founded with the mission to create quality for her. one of the things that was clear for our customer was that discovery channel's were challenging. the one group of people who have meaningful sway and were the gatekeepers of the community were bloggers. they became our earliest advocates. we benefited from word-of-mouth and positive experience. we quickly realized we had this growing, excited customer base. we were working. we were having the biggest trouble in finding products. we were based in new york city. we would scour manhattan to find the best merchandise in the customer

vonnie quinn. this is the european close. on bloomberg markets. mark: we are going to take you from new york to london in the next hour, covering stories out of paris and utah. here are the top stories following on the bloomberg and around the world. european markets holding on to ,heir appetites for risk campaigning around two of the french elections. the stoxx 600 edging higher. marine le pen goes on the offensive again against rival emmanuel macron. vonnie: where are the biggest value opportunities in europe? cveyill speak to henry m on why he thinks european economies have a lot more room. as president trump approaches tax reform, we will talk to utah governor guy herbert to talk about how his they has fostered an environment of economic growth. and we will talk about silicon valley. mark: we will have a look at european equities 30 minutes to minutes to the end of the trading session. stocks are rising. the risk rally continues. the european benchmark, the stoxx 600 gaining for third day. highest since august 2015. expectations that macron wi

. ♪ vonnie: from bloomberg world headquarters in new york, i am vonnie quinn. nd i'm him in london. this is bloomberg markets. vonnie: schneider national has begun trading on the new york stock exchange. sharesnearly 59 million at $19 apiece and shares are up 2%. alex is on the floor of the nyse with more. >> i am here with the chief executive officer of schneider. chris, the shares sold in the market range, trading just up a little bit so how are you feeling about how this deal went? the whole process, we had great advisors, the associates of the company did great. andid at the schneider way this seems to be what's happening. it's slow and steady. >> you have been a family-run company for a while and it seems like an opportune time to list the company. what do you think is driving the company being up over the last year. we move the nation's economy with trucking and everyone is hopeful we will start to see growth. i think that's part of it. also the regulations will cause theye to have to decide if are in or out. i think that will be good for the industry. i t

. ♪ vonnie: live from new york, i am vonnie quinn. nejra: this is "bloomberg markets."il extending gains above $51 a u.s.l as focus returns to inventories. we get that data shortly and joining us to discuss this further is built stray bowl. great to have you. see the wtild we price go in this session with the data around the corner? bill: it is interesting here. i think $53 will be the high end of the range. $47 if we saw the floor drop out. really, we have $50 in between. there are three top drivers and one wild card. the imagery data, a drawdown of 700,000 barrels. we did see a drawdown yesterday one .7 million on the api. remember, the oil inventory data reporting at 45% of the five-year average. so that is one element to this. another exports are element. we are pumping 600,000 barrels per day whereas last year it was 400,000. and this really reflects around the job numbers. we saw adp come out this morning 263,000. a big build up here on the jobs to create the increased demand. nejra: i'm glad you mentioned the adp. above $55 a barrel right now. wti above $51. move

i am vonnie quinn.ckrock ceo larry fink says he sees warning signs for the economy. lackluster u.s.'s growth and uncertainty around the trump administration pose a risk to markets. earnings season is probably the most important issue for the markets today. had higher expectations on quick actions out of our government related to , andeform, infrastructure then deregulation. those are the three things the marketplace look for -- looked for and that is going to take more time. if we don't have earnings validating these higher pes, and we can adjust downward 5% or 10% , and if the administration does succeed in some of these items the market will reassert it health going higher. erik: you make it seem as though u.s. stocks have nowhere to go unless this is a validating picture. larry: the market has to be validated on a continuum. if it moves up it has to be evaluated -- validated, otherwise it goes down. the pes are relatively high -- very high on a relative basis. higher than europe and asia. so it has t

this is bloomberg. ♪ vonnie: this is bloomberg markets i'm vonnie quinn.e of us with luxury and boston will soon be able to have a second structure by the company. for season residences in this neighborhood, it's going to be called one bolton for short. completion. we have richard freeman joining me now. developer the leading on what is going to be the tallest residential building in boston. where is the confidence that it is going to be filled quickly and at a price point you want to be bill that? -- filled at. >> boston is ready for a fantastic project like this. only a few cities in the world have to four cities. type of nature that boston hasn't seen before. been amazing.have four seasons have a number of hotels around the world that are very successful. we so have 18 months to go in construction. there is a lot of development going on in boston, any concerns that we might hit a bluff? >> i'm not concerned with our project. we are more expensive, more exclusive, than anything in boston by a long way. we are very confident. beenink that it has brought o

i am vonnie quinn.ra: european close just minutes away. taking steps to ensure its independence after fighting off a takeover bid from kraft heinz. they will buy back shares and sell off slow-growing brands. earlier today, i spoke with the ceo. >> things change. we have more generation now. we will be looking at continuous m&a activity to stimulate growth , but at the same time, we recognize we have the capacity to do a share buyback and a 12% increase in dividends. nejra: he would on to explain how he plans to restructure the company, which will include some job reductions. the efficiencies we will be driving in our savings program will be in procurement and on maximizing the return on investment of our marketing spend. as i mentioned, two thirds of the savings will actually be reinvested back into the business again. undoubtedly, over the course of the next three years at we're talking about with this program, there will be some job adjustments but they will mainly be at senior management level. nejra

i am vonnie quinn.is "bloomberg markets." holding on to most of the games. the dow is the only one breaking moment.arket the moment. the s&p 500 is up almost 23 points, nearly 1%. the nasdaq is up 1.1%. let's go to abigail doolittle, who has details for us. abigail: needless to say, what a risk on day. major averages having the best day since march 1. these are the haven assets plus the "fear gauge" or the vix. it's a risk on day as the havens selloff. the vix down 23%, the worst drop since the election. we also have gold declining and the dollar climbing against the yen. bonds are up by two basis points. that tells us those haven bonds are selling off. the trigger for all of this was the first round of the french presidential election with a gap up in the euro. we look at g #btv 8020. this chart shows absolutely the massive gap higher, the biggest move from friday's close to sunday's open ever on record. that is how enthusiastic and frenzied investors were over the french election results, sending the

. ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn.k: we are counting you down to the european close. brexit fallout continues. hsp shares falling by the most in more than a month. some of the biggest clients are asking for their business to be routed through banks in europe. clients are not waiting to see what deal the u.k. strikes with the eu. multinational companies want to ensure they can continue to -- continue trading, no matter the outcome of these negotiations. stephen morris covers european banking. no one is going to stick around and wait for the final decision or news to come out of these brexit negotiations. companiesse, large say they think they will have to do it, so why not just do it now? they are asking for things like associated transactions to be re-documented through the paris office. this is in combination with a just -- hsbc moving about a thousand of its banks to paris to cope with the demand. mark: tell me about flipping and why we should care, because this is another thing companies are evaluating. >> the u.k.

this is bloomberg. ♪ vonnie: this is bloomberg markets, i'm vonnie quinn. yahoo!ing earnings after the closing bell today. investors will want details on the purchase of verizon for 4.5 -- $4.5 billion. the deal was pushed back to the current quarter and given a $350 billion discount. let's look at yahoo! in today's numbers don't lie. data has deteriorated steadily over the past four years. it still represents over half a billion eyeballs. that is meaningful to advertisers and verizon which wants to become the third-largest player after google and facebook. they think they can generate $20 billion of rep -- of ad revenue by 2020. yahoos revenue decline is slowing, and sales in the quarter were down. not as much as previous quarters. it marks the best revenue performance in a year and half. it implies a turnaround. what really matters to investors on tuesday, today, how yahoo! plans to monetize the remaining assets left after the verizon deal. mainly, it's a $40 billion stake in alibaba. i verizon, tim armstrong has gotten some heat from the sale name that will rep

vonnie: in new york, i'm vonnie quinn.n close on "bloomberg markets." ♪ mark: we are going to take you from new york to london in the next hour, plus covering stories out of brussels, zurich, and ay.ssels tod the stoxx 600 pointing ahead to a loss, despite big earnings from ubs. we will hear from the ubs chief executive as his wealth management business searches. -- surges. vonnie: the u.s. expands at its lowest rate in three years. is it a glitch or will give the federal reserve reason the to pause? almost 100 days into

. ♪ vonnie: live from bloomberg world headquarters in your, i am funny quinn.n london.rk barton we are counting you down to the european close. mark: credit suisse has announced plans. francine lacqua sat down with the chief executive in zurich earlier today. she asked him why he decided to forto the markets before -- $4 billion rather than the ipo in switzerland. action quick please. we think that is something we got right. we always had two to four, as you have heard me talk about. and 2014.-4 million in 2017, refuse, repeal, and the ipo as an option to do that. why? it was something entirely under control. we have not yet proven the value of the work. we feel now that we have accomplished for five quarters. we have been demonstrating the power of the platform and the social wealth management. simplys a proposition of raising rates to back this. doj.s the when we were thinking in october to a 15, we had two big things. a write-down that we took in the the boj as we discussed, a broad range of outcomes. some of it, really bad for the company. removing that in

this is bloomberg. ♪ vonnie: i am vonnie quinn.his is the european close on bloomberg works. let's focus on france. investors are looking for direction as the race tightens. round one is this week and. how big of an impact will the results have on markets western mark joining us is richard jones. until monday, this will be the last time we bring up this chart. this is the spread as we laughingly called it over the last few months. macron that go through, let's look at the scenarios. what happens to it then? richard: i think we will see some tightening. that is one of the many possibilities i think is not extreme. that is to say if you get le pen , that is the nuclear option. that's the extreme sort of non-market friendly result in germanoney will go into bonds and the rest. richard: you'll post be gold during -- doing well. the usual havens. or you can have a very market friendly macron. i think we see a flight out of havens and a becomes the most market friendly of all the results. mark: sterling was the lightning rod, wasn't west

vonnie: from your, i'm vonnie quinn. this is the european close on bloomberg markets. a safe use to london in the next hour plus with toys out of washington, zurich, and thailand. here are the top stories we are following on the bloomberg and around the world. advises some of the 5th street date of financial services in thought tech sector is driving the valley as investors since it is to shrug off political risk theories vonnie: in banking, credit suisse ceo tells bloomberg why he is changing the turnaround plan at the bank. plans in favor of a rights offer. about twop your just hours away from getting more details about trump administration plans to overhaul

vonnie quinn. [captioning made possible by loomberg television] vonnie: we'll take you from new york to london in the next hour. plus covering stories out of syria, china, and bens knows air rest. here are the top stories from around bloomberg and around the world. the u.s. launches missile strikes against syria sending 59 tomahawk missiles toward a syrian air bass. we have the story covered from all angles from russian reaction and others. vonnie: the meeting with his chinese counterpart, is he pressing zi on critical issues such as trade? and south africa is hit with another credit downgrade. cuts the nation's debt to junk. will south africa get booted out of several major world bond quities? nejra: let's have a look where european equities are. part of the market trading right now. just under 30 minutes to the close. i wanted to start with your dollar one month volatility this is really capturing concerns around geopolitical risks. also of course we have been seeing this moving ahead of and off t

. ♪ vonnie: live from bloomberg world headquarters, i am vonnie quinn.k: we are counting you down to the "european close." the french election is this weekend. joining usd trump -- here to pull everything out is neil jones. silly things to talk about. a simple thing right away, the pound-dollar with the 200 day moving average. had a guest earlier who said that in the near-term, it could be a game changer for the sterling at we have upside, don't we? neil: yes. we are in the midst of this right now. the three main factors that help contribute to take us through the average -- one is the trump stump. there is a long-dollar position. the second one is the short position moving away from the euro. -- theitical land political landscape now switches. that is the element ahead of us. that is the potential risk. and out of left field this week -- the snap election. nobody was expecting it. and the market is heavy short. mark: on our markets live function today, let's show our viewers. the technical analysis shows that the next move is equal to the width of the b

i am vonnie quinn. is spiking after "the wall street journal" reports that saudi arabia wants opec to suspend production cuts. the daybreak team talk with ed morse. tensions inim how syria are affecting the markets. >> there's actually as much bearish news in the move on syria as there is bullish moves. there's not much that can spill over into the oil arena. on the bearish side, given the parties involved, gives rise to thinking about whether the russian government and the saudi government will actually see i do i coming into the next chance to renew the oil price production cut coming next month. alix: it's really about saudi's and russia aligning and syria right in the middle. what is the probability that you put now on a deal being extended? "bloomberg markets." ed: we still have an 80% probability and we think the likelihood is great. the interesting key prices up this year is greater than whatever chess boards they are playing on. you have to remember that the price today is what the price was bef

. ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn.k: i'm mark barton county you down to the european close, 14 minutes away from the end of the fred equity session. -- friday equity session. european leaders meet in brussels to finalize the negotiating guidelines with the u.k. joining us now to simon kennedy. -- is simon kennedy. is it true that they might be giving eu leaders cover by allowing talks to touch on trade before the two sides agree on a specific exit bill? if this is the case, this is a bit of a shift, isn't it? simon: not so much of a shift, but what they are talking about before the summit is that they will focus first on the methodology of finding that brexit bill number, which is obviously a point of difference between the eu side and the u.k. there will not actually be in announced number with a big fanfare. instead they will work out together the parameters in which that number will be created. the number might not actually be generated or known until right at the end of the brexit talks. doing that allow some heat

live from bloomberg world headquarters in new york i am vonnie quinn. this is bloomberg markets. get a check on the markets. >> we are looking mostly unchanged here. a little bit of red on the screen. the nasdaq turning slightly higher here, putting this all into perspective. we are having the best weekly performance of the year. we put this small selloff into perspective. the to the small cap, russell 2000 down almost 1%. in a perfect world the small cap would do better. of a selloff a bit after the corporate tax plan was released earlier. perhaps some expectation in line with reality. let's see with what is behind some of the read on the screen. we are seeing energy and tech leading the way.

vonnie: i'm vonnie quinn. live from bloomberg headquarters in new york. u.s.nd european stocks little changed, investors awaiting data including u.k. pmi come ecb minutes thursday, and friday, the u.s. jobs report for march. the stoxx 600 saw the biggest to client into it yesterday dragged lower by industry group. our next guest says european companies remain attractive. joining me now is the head of the sci managing group. i have to start on the president's comments, the ceo meeting happening today. the president clearly business friendly, we are seeing it in optimism levels for sme's, seeing it in the stock market even until now. does this continue, at some point do we need to see this put into practice? right, theyou are group will be in the pudding, the hard data. we have seen a lot of improvement on soft sentiment, consumer sentiment, these are at all-time highs. we will need to see that translate through. a lot of what was going on today, the last segment we talked about the border adjustment tax. the president not coming down on one side for or against.

. ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn and this is bloomberg. liquefied natural gas is changing quickly thanks largely impart to new sources of u.s. shale supply. is demand expected to grow? looking at a boom bust cycle. alix steel at the energy summit at the university in new york. we are here at the center on a global energy policy in the hall. the pioneer of the energy, he terminal,, lng import in front and center. the company is now the first to export lng in the united states. now chairman, started the company about a year ago. a pleasure to talk to you.

live from bloomberg world headquarters in new york, i am vonnie quinn and this is bloomberg markets. liquefied natural gas is changing quickly thanks largely impart to new sources of u.s. shale supply. is demand expected to grow? looking at a boom bust cycle. alix steel at the energy summit at the university in new york. we are here at the center on a global energy policy in the hall. the pioneer of the energy, he terminal,, lng import in front and center. the company is now the first to export lng in the united states. now chairman, started the company about a year ago. a pleasure to talk to you. today.mbolic 318 for natural gas prices. where do we go in a few years? >> will be lower on average. in general, the produceof the u.s. to guest cheaply is pretty asnishing. alix: the lowest was 19, do we get there again? charif: probably. alix: why? not a lot of demand? charif: right now, the northeast is able to produce and move it. the emphasis is on moving it. but you could produce more out of the northeast. alix: sustain these lower prices and keep producing. when will the infrastructu

vonnie: i am vonnie quinn in new york.joining me from princeton to discuss which ones investors put the most money into his eric ball tennis. back at the first quarter, let's talk about some of the big .uperlatives about the quarter but the most flows? most goes to, vanguard value etf. is barelygue this smart beta. it gives you about 300 stocks on the value side. it has 98% correlation to the s&p. it is easy to understand, unlike a lot of smart data. you have a concept you can explain pretty easily, and it is very cheap, eight basis point. this thing took in $2.2 billion out of its $15 billion, and vanguard led as the issuer. lack rock was number two. the easy to understand products seem to take in the bulk of the money. the second one, does it also fall into that category? we are talking about the largest percent just -- that seems more specific. eric: this is exactly what i was talking about. it uses growth and values greens. .- value screens it went from $100 million to $1 billion in a couple of days but this is a uniqu

abigail: that was dan fox with mark barton and vonnie quinn.ime now for the bloomberg business flash. a billionaire saying it is a surprise for the premature rejection of a proposal to overhaul the world's biggest miner. and once stake in bhp the company says been off -- s the company to spin off assets. proposalof the outweighs the benefits. butays that -- altice suddenly in recent years. bidsal attracting up to 15 , according to people familiar with the matter, saying that bidders will be shortlisted this week. l'oreal said last month that it was exploring all strategic options. azulrazilian airline phrase more than 9% after a trading debut today that had been delayed several times. it raised $520 million in the sale as confidence in brazil shortly right -- slowly rises. that is your business flash update. joe: coming up, what you need to know for tomorrow's trading day. this is numbered. -- bloomberg. >> and live a bit of a volatile session for stocks. this.miss chinese might inflation data out at 9:30 p.m. eastern. " coming up tomorrow on b