rico, it's a case of xiaomi the money? xiaomi the money indeed.billion when it lists on the hong kong stock exchange and it could be the world's biggest public share offering since 2014. we still do not know the price and the listing date yet there is speculation it will take place in july and it will be the public offering since alibaba. despite all the excitement and optimism, there are still some investors who are concerned about the slowing smartphone market but xiaomi, more than 70% of its revenues comes from smart phones. —— that could hurt xiaomi. recently, a slowdown in smartphone sales has been forecast. all right, thank you very much. let's squeeze in a few other stories. the commonwealth bank of australia has been forced to reveal it lost the records of almost 20 million accounts and decided not to inform its customers. following a report by buzzfeed, the bank — australia's largest — admitted it had lost two magnetic tapes containing 15 years of data on customer names, addresses and account numbers, but no pins or passwords. spotify sha

xiaomi filed to go public with an eye-popping $1 billion valuation.esla ceo elon musk heated conference call after the company reported earnings wednesday. turned out musk's responses overshadowed the company results, which the expectations. -- beat expectations. then came what an analyst described as a truly bizarre earnings call, where musk had a blunt message for investors. elon: if you are concerned about volatility, you should buy another stock. i am not here to convince you to buy our stock. do not buy it if volatility is scary. there you go. emily: musk was especially combative with two analysts in this exchange. >> where specifically will you be -- elon: next. more boneheaded questions are not cool. next. >> can you let us know what percentage have actually taken steps to configure -- elon: we are going to go to youtube. sorry. these questions are so dry. they are killing me. emily: investor response was swift. shares of tesla fell 5%, its worst performance in less than a month. musk built up his reputation as a showman, ushering in new techno

. >>> and xiaomi outlines plans to raise $10 billion with a listing on the hang seng >>> adidas shares are under pressure even though there was strong sales growth in china and north america. the company confirmed its 2018 outlook, however weakness in its reebok brand continued falling 3% speaking to us earlier, ceo kasper rorsted said progress was being made at the brand. >> north america is growing, europe is growing. two countries in asia are not growing. our primary objective was to get regoiebok to profitability. the most important part is that we start making money again on reebok that's what our turnaround plan is about >> in other corporate news, glencore expects trading profit at the upper end of its forecast range after posting first quarter output in line with expectations the mining company says production is in line across all commodities. >>> and logitech shares are jumping after reporting its best ever fiscal year sales growth in the gaming and video collaboration units helped boost sales for the period by 16%. logitech also confirmed its fiscal year 2019 outlook and hin

xiaomi is one of them. have received applications, we are not supposed to really disclose them. i would not be able to comment on specific pipelines if you think pipeline means what we have our ready received to date. but we do understand are many sources, people are getting ready to file. people are lining up. analyzers and the process. i do see in the coming weeks and months, we will see dozens of companies to potentially but the application in. summer will hit, and usually nothing happens much in the summer. i do anticipate a substantial autumn. november isember to really the peak season for listings, giving many of the unique accounting requirements for bucks. steve: how important is it to you, because in 2014, you did lose alibaba. charles: i think, we don't really chase ipo, either numbers amounts raised as a potential, as an important benchmark. the process,lks on and make sure they are in place, in the market decides how much is coming. our business is more of a trading business. ipo is important to

xiaomi saw this as an opportunity to main control of the company.are lining up as well, a ridesharing company and financials of alibaba looking to go public this year in hong kong. emily: big questions looming, whether these companies can carriers to sell phones in the united states. not only to challenge companies like apple and samsung globally, but in this market. stephen: that will be tough. phones in the united states. not only to challenge companies we have been reading stories on blocking of other equipment network makers. xiaomi is going to use the proceeds of this ipo to look at international expansion. they have gone successfully into india as the number two vendor. the united states would be a stated goal, but it would be a tough nut to crack obviously. emily: stephen engle, thanks so much for joining us. that does it for this edition of "bloomberg technology." friday we will be covering earnings from another chinese text giant, that would be alibaba. we are livestreaming on twitter. in news out 5:00 p.m. york, 2:00 p.m. in san francisco.

what else do we know about xiaomi? a major player in india where it has been battling it out with samsung to be the most popular handset maker. but besides smartphones, it also makes home appliances like air purifiers and rice cookers. it offers intimate services. it has even set up apps offering music and entertainment, like its chinese rival. so there is a lot of buzz and excitement today but there are some concerns. investors are concerned because 70% of the revenue, despite the diversifications, come from smartphones and most of the sales of the smartphones are in china and it isa the smartphones are in china and it is a big problem because the domestic market is actually getting saturated. good stuff, thank you for explaining that, it shows how the global business stories affect each other, thank you. let us show you what is happening on the markets. japan is closed today, but most asian markets dipped after the sell—off in new york. investors are keeping an eye on those talks between china and the united states o

it is among companies partnering with xiaomi. the hong kong dollar, we did see a jump in the currency following the use on filing. this as we are anticipating a rise in rates which have been strengthening the currency. the hong kong dollar giving back its earlier advances. -- the house index trading lower. out of stock developers under pressure. let's pull up to check on some of those big drugs in hong kong. -- fallinguto follow the most since april 18. tencent almost -- down 2%. bit of a mixed bag. it looks like casino stocks are giving you some optimism. haidi: thank you for that. let's get the first word news with yvonne man. yvonne: interest rates unchanged. inflation is close to target. the fomc also did a weakness and growth for the first quarter, removing a reference in the merchant statement that the economic outlook has strengthened in recent months. they balanced that out by noting solid growth in business investment. the world economy shows signs of stabilizing after a recent moderation with manufacturing activities st

still ahead, how xiaomi went from has been to the biggest ipo in years.. ♪ ♪ emily: this week, xiaomi filed for an initial public offering in hong kong, kicking off a process that could be valued at $10 billion. it could be the largest deal since alibaba and may bring in the value of $100 billion. the chinese smartphone maker is growing at a blistering pace that will help it take on apple and samsung. we went live in hong kong on thursday where we were joined by bloomberg's stephen engle. stephen: xiaomi was an incredible success story when it was founded in 2010. i remember interviewing the cofounder in 2012, one of the first foreign journalists to get an inside look at this booming company. we had no idea it was going to become this large. they were a victim of their own success. one became a rockstar compared to steve jobs in china. actually, he said he did not like to be compared to steve jobs but rather jeff bezos, but anyway, they had an overaggressive expansion plan. fromhired hugo barra away google. they expanded very fast. some cheaper competitor

stephen: xiaomi was an incredible success story when it was founded in 2010.iewing the first cofounder in 2012, one of the first foreign journalists to get an inside look at this booming company. we had no idea it was going to become this large. they really were kind of a victim of their own success. one of the cofounders became kind of a rockstar compared to steve jobs in china. actually he said he did not like to be compared to steve jobs but he was more like jeff bezos. anyway, they had an overaggressive expansion plan. of course as you know they hired , hugo barra away from google. they really expanded very fast. but in some other cheaper competitors came along and stealing their business model of online distributing of handsets. and they lost their way a little bit. the growth went down into the single digits. but late -- they have now really turned things around ahead of the ipo, which could be listed in hong kong by june. he spread out to india. -- indiao handy a handset vendor. they went upper end as well, recapturing some of the blistering growth they

what does this listing mean for xiaomi? very different things, but to raise moneyng and their valuation is between $50 million -- $50 billion and $100 billion. rishaad: i think that is the upper end. moved back tove something like $60 billion. these two companies cannot look any more different, to be honest. how did we arrive at these numbers? >> well, it is anyone's guess. china tower. it is profitable and people can do that usual telecom operators ratios and so forth, whereas xiaomi is talking about using the smart phones it sells cheaply to build an ecosystem. it is very hard to say. the ranges very big, $50 billion to $100 billion. rishaad: does this give china tower a key advantage? >> i think a lot of the private investors probably don't like their own companies that much because there are always corporate governance issues. they can be used to do national but there are always cornerstone investors. if private investors don't want to buy, they can go with china life. they can always sell those shares. with xiaomi, pri

emily: we talked about xiaomi going public earlier. how much of a threat is xiaomi to apple?is one of the reasons why this iphone business probably will not grow above 5% over the long-haul. that xiaomi market is the 500 million units that is the flip phone market, getting those to convert over will be very difficult for apple. getting those high asp's. it is a big threat. it is why the iphone business will not grow at probably 10%, 15% the future. i think it will. that is the competitive threat. emily: we were talking about apple's innovation problem. it is unclear what the next lily pad is for apple. you mentioned earlier, the trifecta -- iphone, services, share buybacks. is services the next lily pad or are you looking for something more? gene: we are, and we have a history of getting some of these right and some of them wrong. it is the one other factor here in the story, there is optionality value on other things they can get into. probably the two most obvious is something around wearables. they have made recent acquisitions around glasses. this is one of tim cook's fav

tom: yes, xiaomi very closely watched.hem seek approval from the hong kong authorities. the listing for june seven, that is the hope to get the approval. if they do, they hope to start pricing the share offering by the end of june. that is what we have been hearing. what they want to do, they are acting to raise about $10 billion u.s. from this listing. they are looking at a valuation of around $60 billion. their fortunes have gone up and down, so they are accompanied we will be watching ahead. they had a strong 2017, founded by a serial entrepreneur. they also make robotics and other smart devices. they started to open up stores beyond china as well, opening one up in paris. this is a company very closely watched, and they will be meeting millionaires from the employees and the company when they list. they are hoping to start pricing it the end of next month. a great deal of anticipation for that one. tom mackenzie in beijing. let's get you a quick update on the markets as we get underway this monday morning. new zealand,

what is the latest on the xiaomi filing and listing?: we are being told xiaomi are going to ask for permission to file on june 7 with the hong kong exchange. they then hope to start planning the pricing of this toward the end of june. they are looking at a valuation of about $60 billion to $70 billion. they are hoping to raise $10 million. xiaomi could be the blockbuster ipo this year, the largest since 2014. a lot of interest. there is a warning. the terminal shows similar listings, and you talked about this on the show in hong kong, the tech companies and how some of them have not fared too well. downng down, the group 48%, one of the standout is china literature which has done pretty well. they are up 27%, so we will see if xiaomi can meet the high and book the trend in terms of tech ipo's. it is likely to be a blockbuster . when they come to its pricing at the end of june. david: looking forward to that. elsewhere not much because of the environment. tom mackenzie, looking live from beijing. now australia, talking ios shares. bottom

. >>> and spotify drops after reporting a quarterly loss chinese smartphonemaker xiaomi pls to go public. >>> and goldman sachs bething on bitcoin by opening a crypto trading desk it's may 3, 2018 "worldwide exchange" begins right now. ♪ >>> good morning welcome to "worldwide exchange," i'm dominic chu. brian sullivan is on assignment. let's check the early market action as you can see behind me, some of the futures picture points to a more mixed open. fractional gains and losses for the major indices. the dow slated to open up 2 points, the s&p by a single point. the dollar hitting at the highest level of the year. if you look at some of those moves, we are seeing a pullback from those levels. dollar weakness across the board for the major pairs. euros now, 119.78. dollar/yen, 109.64. the pound 1.3573. courtney mentioned tesla, we have spotify and square down big right now. kraft heinz a bright spot. we'll have more on all of those names coming up. >>> thank you very much. we're following a developing story out of china a u.s. trade delegation led by steven mnuchin arriving in beijing f

nejra: let's turn to tech, and the chinese smart phone maker xiaomi will be the first major company toong kong's new rules for going public. joining us is alex webb, our bloomberg opinion columnist. let's start with the easy question, why hong kong? clearly plays into the desires of the local authorities. the owners can retain control without necessarily owning the actual capital itself. between those factors, that's the main thing were looking at. the other consideration is that if they were to come to the u.s. first, it would be hard to get a piece of that high. -- a piece of that pie. ,anus: if we look at xiaomi it's amazing that the time just are ale warns that we services company now, but not so much about the hardware. how much are they looking to raise? i don't suppose there's going to be a heck of an appetite for this kind of offering. >> our sources indicate is going to be a 10 billion valuation. what's interesting is they say they're going to really curtail their hardware profits and the gross margin will be restricted to 5%. that implies that building their installed base wh

i want to get your thoughts on xiaomi. lot of talks about how they are going to be launching a , even here in the u.s., india. what are your thoughts on their filing? >> it remains to be seen how the filing does and what comes out of it. there is no doubt in my mind that for the next foreseeable decade, markets like india are important for people trying to sell these smart devices. phones are one part of the equation. smart devices in various elements are going to be important and at the end of the day all of these companies want a relationship with the customer and use that data to sell them something on top of this phone, the gillettee strategy of selling you the razor and then you have to keep buying the blades. betty: that's right. certainly a smart strategy, sumant. smart phones, it was interesting to hear that comment from tim cook when he was talking about how the smartphone market, apple does not saturated. there is a bigger market out there of mobile phone users who have not stepped onto the smartphone bandwagon a

they have got that momentum. >> what is interesting with xiaomi is they say they're going to curtailits and the gross margin will be restrictive to 5% but that implies that building their in store base which allows them to push more services and those businesses are at a 40% to 60% gross margin, depending on what are, -- our dust they they are that obviously gives , them better prospects and takes them more toward the 80% or 90% that samsung is able to do. ♪ nejra: this is "bloomberg best." i am nejra cehic. this week, the u.s. treasury announced that net borrowing reached record levels in the first quarter of 2018. 10 year bond yields have been hovering near four year highs and the fed is expecting to keep hiking rates. steven mnuchin stopped off at the milken institute mobile conference on his way to china for trade meetings. stephanie flanders asked him if he is concerned about the state of the bond market. >> i think the good news is the u.s. treasury market is the most liquid and robust market in the world. while i won't comment on interest rates because i respect the independen

>> i think xiaomi and tencent are very different products.lly, is going to be very hard to root the. -- to repeat. tencent has enormous earnings. in some ways, it is further ahead than facebook. xiaomi does seem a little ahead of itself. it is a great debate. --y had those massive rice rises last year but we are going to have to have them convince all of us that this is really an internet company and not just a hardware company. yvonne: certainly they will have a lot of -- to prove those numbers. it seems when we talk about chinese tech, we are really talking about a handful of names. tencent, alibaba. is a really much room in investors portfolios for other tech names? betty: are we just going to be trading on those names for quite some time? garnering ahis is lot of interest. i think there are a lot of dollars to invest. to some degree, this is a big resurgence in ginseng -- hang seng. now, you can actually go ahead and list these companies that will be coming to market listings. the change in the biotech market will add diversity. think the

we reported that the chinese emily: just last week, we reported that the chinese smartphone maker xiaomit ipo in four years. now that valuation may not be so high. xiaomi might be looking at a valuation between $60 billion to $70 billion, and while 70% of their revenue comes from selling smartphones, their cofounder insists their real goal is to be an internet services company, making money off ads and online games. the united states is in the midst of unprecedented strength in the labor market. the u.s. unemployment rate dipped below 4% for the first time in 17 years, but the workplace is changing. in 1960, only 20% of mothers worked. today, 70% live in households where all adults are employed. meantime, the majority of workers spent more than 40 hours a week on the job. productivity has increased 400% since 1940 while benefits like leave and health care are not guaranteed. and in the tech industry, there is a rising split in the workforce. competitive pay and great benefits for salaried workers, while warehouse and hourly employees can be left with little to no incentives. jennifer hym

. >> xiaomi filing in hong kong for potentially the the world's largest ipo since alibaba back in 2014 kong's new rules for going public here it two days after the rules came into effect, what is your initial takeaway? we were talking about how this feels like a weird timing for the company. it's not exactly the company at its peak. >> actually, they have had a good year the last eight months. they have timed it perfectly. i believe they have done what they need to do over the past 18 months to really ramp up the numbers. they have a great story to tell. >> turn it around. >> the bankers have a great story to tell investors as we go into this ipo process. we are seeing the smartphone business do very, very well, and they are spending a lot of time talking up how their shipments have done very, very well. they have that momentum. >> what is interesting with xiaomi is they say they're going to curtail their hardware profits and the gross margin will be restricted to 5%, but that implies that building their in store base which allows them to push more services and those businesses are at

if you look at the iphone and xiaomi, xiaomi is much cheaper than the iphone and has some great featurese concern that people are listening in? are people concerned because it is chinese made? shelly: that is definitely the concern as they try to expand internationally. while they have been doing really well in china and india, the question is, will people still want these kinds of phones when you get to a market where people are apple loyalists like the u.s.? tom: i look at the market share from idc and i do not get it they are a third or fourth mover at best. we know the studies that apple has whatever market share it has now is the second player with all of the profits of the industry. do we have any clue to this ipo of the true profitability of this company, or is it a mystery? shelly: the big surprise in the i've. -- ipo filing is that xiaomi does make profit. it is just not coming exactly where we expected to come from. even though they make phones that are value funds. they only make 3% to 5% profit margin, they are not losing money but not making the kind of profits as apple. wha

xiaomi is the bigger ipo story. they may revisit that valuation. get the latest from the pboc, weakest since january. this is bloomberg. ♪ is is bloomberg. ♪ ♪ in the morning29 here in hong kong. i do admit, looking at victoria haber -- harbor, it looks more like dawn or dusk. pboc, weakest fixing on dollar china, going back to january this year. taiwan dollar getting hammered as well. we are watching for indonesia later, the ringgit as well as the malaysian decision tomorrow. hibor has been up every single day since april 13, despite higher rates. it is getting a bit more expensive to take on risky bets at the moment. takes moneyide, it to get something decent. i am looking at the hang seng, 0.5%. we are trading closer to $72 in west texas. em malaysian election, pressure, lots of things coming together for markets. let's get a sense of where we are at the open in hong kong and shanghai. let's have a quick look at some of those market moves in the hong kong and china sessions. these were the markets that really rallied hard yesterday and supported

is the early-stage investors and in exclusive interview their co told bloomberg he's still treats xiaomilarge-scale startup. >> we are still very young. this is a startup company come all that have large-scale business, and they have the global exposure right now. i think they continue to grow in this market, and that this income you think about all the chinese tech companies. have strategythem to expand the global market. capability to the scale up and go to the global market. more than that, this company is not just pure hardware company. they are internet services. modem.ve a new retaining is a new model. you cannot benchmark this company with a traditional model. this is a hybrid. it is doing well in india and china. right now i know they bring the tv and smartphone, and the future that will bring more. investment have the and leverage at ecosystem. they can duplicate the approach, which is proven successful in china and the rest of the world. but, you need globalization. -- you need localization. but it is too early to tell, but i have confidence. paul: that was their ceo spoke excl

it xiaomi does make that much, it would put the company valued at $100 billion.despite the diversification are coming from smartphones. most of the sales of those smartphones are in china. that is a big problem because the domestic market is actually getting saturated. the rise of crypto—currencies has got many people wondering how they can exploit the digital craze. the children's charity unicef is no exception. it's teamed up with professional computer gamers to raise money to help kids suffering from the war in syria. this is from bbc click. ourtraining is like our training is like five hours a day, usually, sometimes there are days off, etc but we need to play at least five hours and then we have our free least five hours and then we have ourfree time. so least five hours and then we have our free time. so then we can raise money. the method of raising money isjust using the proof of work method, which is literally wasting money to calculate numbers and they throw my bell numbers of the system until they win some coins. it is wasteful by design and print out

you have all this market value in emerging markets tech, it's elsewhere. >> and xiaomi not just a hardware keeping an eye on apple questions. next, a bond etf launched today, the pro-shares s&p 500 bond etf. there's a bond etf tracking the stock market, mike, what's the point of this, and what's it tell you about this product in. >> i think what it tells you is there are corporate bond etfs out there, plenty of them, all following some other bond index, and they are trying to use the s&p 500 so people know what it is >> must be a retail product. anyone a sooeerious bond investr does not use the s&p >> a serious bond investor, bond indexing can less popular than stock index for institutions who want low cost, and inefficient s to stocks. >> it's not just, okay, take the one piece of equity, so is it just a marketing gimmick >> largely, but i think it's a shortcut because they are big established companies. not everybody has debt so, you know, they certainly don't have debt in proportion to the size, right? >> right >> it's a grab bag, but, again, etfs right now are about marketing because t

xiaomi says that is their game plan.nd equipment make -- telco and equipment makers. guy: thank you for bringing us the latest on the tech spate. lon musk making headlines. gt go is the function we created to highlight all of these. you can browse all of the functions that have been created here. there is some great work that goes into creating these, the fascinating number crunching that goes behind it as well. gt go. this is bloomberg. ♪ matt: welcome back to the european open. i'm matt miller here in berlin. in one of the most exclusive corners of finance, some of the industry's biggest names are trading very complex products usually only restricted to institutions. they are two of just 12 individuals known to have struck these master agreements. here to tell us more about this exclusive club is bloomberg reporter alastair marsh. you have some of the biggest names in the investment world, individual who is have basically licenses to trade these derivative weapons normally reserved only for big banks. >> exactly. so th

chinese smartphone diet xiaomi plans to seek formal approval for what could be the biggest hong kongth knowledge of the matter say that the listing could raise $10 million. the beijing-based company helps price the share sale late in june. it is expected to turn early employees who bought stock in two billionaires. that is your business -- into billionaires. alexa, areming up, you listening? how amazon's privateevice recorded a conversation and how this could be a turning point for big tech. from new york, this is bloomberg. ♪ scarlet: i'm scarlet fu. lisa: and i'm lisa abramowicz. elcome to marcellus wiley -- "bloomberg markets." scarlet: here are the top stories weaver covering on bloomberg and from around the world. oil plunges below $70 a barrel as saudi arabia butts us -- tuts the brake on crude oil with the help of russia. investigationors are trying to make sense of -- since -- sense f fluctuating trade talks. alexa, please stop recording me. we have -- we are one out from the close of trading. let's get a check on the markets. it's noticeable that the nasdaq has unperformed.

forne: doesn't bode well the likes of xiaomi or tencent music? i think it does. at how warren buffett is looking at the stocks on the program. though if you think about where investors are paying attention, they pay attention particularly in technology, but increasingly into technology companies in china. months,o back 12-18 u.s. based investors were focused on the u.s. pre-ipo market. fast-forward to today and i spend a lot of my time in hong working with u.s. investors. because they are very focused on the chinese tech companies, given the population and cyclical and structural changes. there is a lot of growth to be had for the marketplace tech businesses. betty: tell us about the u.s. banks and what they are doing to woo the chinese tech ipos? robert: i can't speak to what the bankers are talking about. they come to us reg looking for information and color. come to us regularly looking for information and color. tut if you look at tencen -- users.y have that tells you about the size of the market. it isn't escaping attention of u.s. investors. we see chinese

yvonne: xiaomi opening a store in paris, and more outlets in italy and spain. the theceo says he thinks about u.s. all the time, but 2018 is all about entering europe. coming up in the next hour of daybreak asia, we talk more about markets and the geopolitical risks being priced in. market open coming up. this is bloomberg. ♪ this is bloomberg. ♪ ♪ kong,: 8:00 a.m. in hong we are in bloomberg's asian headquarters. i'm yvonne man. stories, pacific markets face a lower open after wall street fell. president trump saying the kim summit may not happen. trade relations are back in the headlines. the president is not happy about the way the talks are going with china. betty: from bloomberg's global headquarters, i'm bit of new -- betty liu in new york. ipo astowards $4 billion terry puts himself in the center of tech. the rise of home sharing in china, we meet the public -- company with airbnb. ♪ yvonne: we have seen the fragile markets. the president casting doubt that the summit will happen, it could derail some of the trade talks and optimism on that front. a lot

xiaomi, talked about and the issue with these ipos.octor was 650 times over's subscribed. when theypecially list here in hong kong the next couple of months. >> it indicates a lot of funding pressure in the catch csh crunch. and what already is a market that has no momentum. and we are also going to be joined by bank of tokyo mitsubishi. betty: that is it for daybreak asia. stand by for "bloomberg markets". this is bloomberg. ♪ david: you actually started out, you wanted to be an actor. leslie: i was sort of a mediocre actor. i was also tending bar more than i was acting during those years. david: so what was your skill set, the scripts or the talent or both? leslie: we had the hottest comedy and the hottest drama in the world on television on nbc. david: companies like netflix and apple and facebook and amazon, they're in the streaming business. leslie: money alone doesn't lead to good programming. it is tough. we're competing with companies that could eat use live. -- us alive. david: when "survivor" came, that was an unusual show at

they could value xiaomi at up to $70 billion. plane and a growing demand for luxury business. they have a range of 6000 nautical miles from hong kong to london without stopping. >> we are getting lines coming through from the indonesian minister for economic affairs, talking about the emergency meeting being held between the administration and central-bank later on this week, saying that it is not an emergency meeting, the one being held on may 30. they are holding the meeting to identify measures to maintain the economy, change the negative trade environment, and to look to improving competitiveness and the investment climate. and we have been talking a lot about coming down on indonesian assets. it will be worse hit by this rout in asia. plenty more to come. this is bloomberg. ♪ ♪ putting the best chart figures against one another. you may well laugh. you can access their charts on the bloomberg, with the function of the bottom of your screen. let's start with haslinda. >> i want to take a look at the dollar. we have been talki

oh, yeah the great american, larry kudlow wilbur ross is also there >>> and xiaomi is filing for a massivepo in hong kong the smartphone maker could raise up to $10 billion. dupont, really did that happen? >> just crossed. >> how did they come up with that name? >> very creative >> earnings out from dow dupont. quarterly profit of 1.17, coming in 7 cents above estimates revenue beating the street forecast the company says it remains on track to split into three separate companies next year not much movement to these earnings >>> and the corporate buzz story of the morning, elon musk's unusual performance on the tesla conference call. phil lebeau joins us now with more see, phil? it pays off to do that stuff, sit around on conference calls, asking questions you were first to witness it was it bizarre >> bizarre is the perfect word for it strange, odd i'm looking at a slew of analyst reports this morning, almost all of them say the same thing, rbc capital, elon's defensiveness spoke volumes. adam jonas at morgan stanley says it is the most unusual call he's seen in 20 years. tony saccanachi