Bloomberg, Dave Wilson, Powell discussed on Bloomberg Markets
Now we do have tesla shares trading lower their down by about one point, nine percent David Welsh is Detroit's bureau chief. He was on Bloomberg television, swarming talking about tesla I think we're, getting some. Mixed signals here but the bottom line is he doesn't. Really want to step aside probably thinks he really. Is the only one, who can. Who can do this who can we the, company through model three production getting that up, to, speed hopefully. Getting the company profitable and cash flow positive is he is predicted. Would happen in the second half and also eating it through the take. Private effort then. He's got and again tesla is lower by one point six percent PepsiCo. Bind fizzy drinks dispenser sodastream international. For three point two billion dollars shares of sodastream getting up pop they're up nine. Point four percent PepsiCo count by two tenths of one percent tenure of ten thirty seconds yield two point eight two percent we've got oil up seven tenths of one percents sixty six thirty nine of barrel. As for gold is up three tenths of, one percent I'm Charlie pelletan that is, a Bloomberg, business flash and thank you, so. Much Charlie Pellett so there's. Been a lot Taylor Talk going. On in the markets stay and One of the biggest topics right now is around Jay, Powell and not so much j. Paul himself but. What the president thinks about j. Powell's fed so I wanna start there with, the boys who just walked into the studio Joe Weisenthal markets editor of Bloomberg news and co host of course of what you missed. Coming up at three thirty Wall Street time. And Dave, Wilson stocks editor for Bloomberg news so Joe this is a story that. Is now, by far the most red blooberg. I mean read spiked all of it bureau there's so many layers of the story of Trump being out in the Hamptons telling his rich donors that he regrets that. J. Paul isn't an easy money fed chair so one president of Bloomberg exclusive point Humbert. Great reporting by Jennifer Jacobs insulate HMOs motion so here's all the layers that I like. One Trump complaining about his own fed chair he's done in the. Past that continues debts great to doing it Rich people in the? Hamptons? And I'm not certain so don't hold me to this but I would be shocked? If in that crowd there weren't people who in the post-crisis period we're calling for higher rates and, complaining about the money's a lot of those guys. Were I'm sure of it I don't know specifically but I have no doubt, three I'm not even convinced three if he wanted like a dove he couldn't like what was he doing there they're all out there. But for I'm not even convinced and Powell. Is that, more hawkish than Yellen and specifically because Paul has said multiple times he's. Not that, he doesn't feel that strongly about. This idea that we're at full employment he doesn't see that much inflation so though he has raised rates this idea that he's done some big path that Yellen would. Not have been on yeah I don't even totally by that so I think I think. Trump should like Powell what about the bigger question about fed independence right because how rare. Is this that you do see president even commenting on central Bank Actions? Whether it be good or bad usually you don't want to comment at all correct Oh yeah absolutely I mean it is it. Is weird now one thing I'll notice that. We talk about it is though it's unprecedented it's not unprecedented, in the last several administrations it doesn't happen very much. Or it hasn't, happened, at all but it's not like. This has never been the case and you, know look the. President appoints the fed chair and so obviously there's an. Element of politics they're fed chair. The fed is a, sort of creature of congress today so there's element, of politics there I think it's. Unusual but the idea that it's totally out? Of Out of the realm of what plausible is a little little stretch so let's bring in Dave Wilson are stocks that are here Dave. Are you looking at that or you see another stocks, on the move today what has your I I'm just looking at the s. and p. five hundred just. In the last two minutes it's gotten to its highest level since, the peak back in. January, so, you. Know as, much as. Summer doldrums of. Kind, of descended I was taking a look at trading and exchange-listed shares down. Like sixty percent from what it was last. Monday so we're out of second quarter earnings season really with, some exceptions as stay up a little more than two. And a half, percent, after their results came out and. Were well received immediate it's a market that's, still manages to. Have some momentum here s and p five hundred heading. Higher ferns third day we're getting. Closer to that peak, from January and mean and that's saying something May just be that. The earnings that we did see were good enough to kind of give people confidence to come in and buy before you know we. Get into September we started thinking about third quarter numbers, so Joe before we get too far along I did want to bring in Venezuela which capturing a lot. Of attention as well especially in the broader global market yeah one, of the more confusing Currency moves to wrap your head. Around because there's two things going, on. Simultaneously there is a, massive devaluation. Which essentially alliance the official rate to the. Black market rates so that's probably a good thing because on, some level now there's your sort of one rate. The other thing is they're lopping off five zeros which is kind of like the currency equivalent of reverse stock split I guess it just. Makes it, a little easier to. Manage so instead of ten thousand boulevards. Whatever it's just a one I guess so, that makes it a little bit easier, there's a thirty five hundred percent increase in, the minimum wage but told me. To, thirty thirty dollars a month And then the the, party. I don't get it, all is. Somehow pegged to a crypto currency that really. Don't get well and that's the first time that we think, that a government has ever done this so yeah Like I. Don't think anyone really believes it in the sense that there's a meaningful thing because a stent. To believe the petro as. It's called, is backed by diamonds and gold but there's, no way to redeem it I would I would not. Put much. Stock on, that as, meaningful anchor for the value of the currency and yet it really. Is I mean just the actions themselves and. As you say so many different actions sort of, rolling. The market there all right Joe Weisenthal Dave Wilson you're going. To be, back with us a, little later on Joe. You've gotta run off into your TV show would you mess coming up at three thirty pm Dave you'll be back for your stock and chart of the. Day all right Bloomberg by the daytime this is good one we were just talking. About, it Exactly today's numbers three thousand yeah Venezuela's President Nicolas Maduro has announced dramatic measures as we were just talking about, to rescue a downward spiralling economy including a more than three thousand. Percent hike in the minimum wage the crisis in the socialist oil rich country is, result of years of economic mismanagement corruption and a. Global drop in oil. Prices favorite this number is unbelievable inflation could, hit one million. Percent this year one. Million. Percents that's. The definitely? Hyperion Hyper hyper hyper hyper inflation hyper to the 0 all right let's get a check of the latest world and national headlines Martin.