31 Burst results for "Markets Editor"

"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:23 min | 11 months ago

"markets editor" Discussed on Bloomberg Radio New York

"Evan and Cydney, where was seeing the Essex hired by about two thirds of 1%. Risk on day across the Asia Pacific region this Thursday. We've got the Nikkei higher by 7/10 of 1%. We had December trade slide miss out of Japan exports growing by a 2%. The estimate was for a 2.4% increase there. Cost be performing pretty well as well hired by two thirds of 1%, South Korea's fist 20 days of exports growing by 10.6% semiconductors, particularly strong better than 11% growth there. Taiwan that stocks having a very positive day as well Higher by 1.8%. The hang, saying probably the showing the least games at the moment higher by a little under 1/5 of 1% right now on Alibaba's a curious one. That stock we get by 2.5%. And this is despite 80 hours in the U. S, showing a big pop on the reappearance of Jack Mar after a three month the absence from the public eye He conducted a very brief address on philanthropy and a live stream. But that was enough to reassure traders of Alibaba's 80 hours and we'll talk a little bit more about the reappearance of Jack Ma. In a moment. U. S markets had an excellent day. In fact, the best inauguration day bounce on record now the S and P hired by at 1.4%. If you want to participate in Bloomberg's question of the day today, that's when is it gonna breach? 4000? So if you're a Bloomberg subscriber I'd love to get your opinions on that. The U S 10 year, easing a little to $108 showing a little bit of weaknesses. Well, one of 3 57 against the yen right now. Oil a little weak to just hovering about $53 a barrel for West Texas gold, though nearing a two week high $1868 an ounce right now, and we've got some monetary policy decisions a little later on as well from the Bank of Japan. And Indonesia as well. But for Nam, let's get to it. Baxter in San Francisco for chicken Global News, it all right? Thank you, sir Joe Biden, Kamila Harris, president and vice president of the United States by this team unity. And the uncivil war get to work on the virus in the economy. 15 executive actions taken including re entering Paris climate Agreement, World Health Organization re hander Mask mandate. Immigration reform, halt the wall construction reverse previous administration travel ban from predominantly Muslim countries. So so the highlights Taiwan's president, saying Wang his message the new administration. We wish your administration every success, which will have Beijing's interest sure that comment. Senators confirmed April Haynes as director of National Intelligence. Japan aims to vaccinate most of the country by the summer. Olympics. Hong Kong set to grant emergency approval for the Fizer vaccine. New York City has had to reschedule. 23,000 vaccine appointment Studio VACCINE shortage, Moderna says some of the shipments got too cold UK has suffered its worst day in the pandemic with more than 1800 deaths recorded data data. Government officials say some hospitals look like war zones in San Francisco. I'm Ed Baxter, this is Bloomberg. All right, Eddie. Thank you. Let's get some perspective on market action in the APEC region from Adam Hague. He is Bloomberg Global Markets editor Joining US from Sydney. You know, Paul just mentioned that the In Hong Kong. The Hang Sang had been frustrated and not being able to break through 30,000. And when it did, it was momentary. Now it seems like we're holding above that level. Do you think this is Significant psychologically. Well, I do You think it's an important level, Doug, But we should also just remind ourselves just how well this market performs of late. And of course, the start of this week. It's It's really being a real stellar out performer. There were a couple of technical levels that looked like they might, you know, give some kind of resistance to some of the buying that we've seen, you know, but the 30,000 level you know, it is important. And it does give us an indication that you know, we have pushed on quite significantly in one of the big sectors of the market. There. That's been rallying, of course, was the banks, you know, real deep value place. That have bean unloved for a long time, and that's what you're seeing. And your sin Global investors interested in some of these women's cyclical, you know, value plays like banks and another cyclical sectors, that if you really take a view on the first half of this year that the economy globally could be recovering a lot quicker than people are expecting. And then you know, you assign quite significantly higher valuations to some of these sectors, and I think that's really the story of what we're seeing in on Kong and, of course, the Hang Sang China Enterprises Index that the Chinese companies listed there I mean, some of the biggest beneficiaries of light and of course, that index itself is up very strongly this year. Yeah, we had the numbers on exports for both Japan and South Korea earlier, kind of confirming the fact that manufacturing seems to be on a Path toward a solid recovery, and I'm thinking that that's only going to fortify positive sentiment. Well, exactly, And I think that's what you're really seeing in this whole emerging market trade. That is kind of dominated the first two or three weeks of this year. You know, it's places like And South Korea and some of the other economies in in Asia that are really soon this. This kick up in investor appetite, You know the manufacturing numbers of confirming it. And you're seeing in the way that market price is that you know, investors willing to give the benefit of the doubt and push valuations up. And so each incremental data point comes and tells us that you know the world is coming out the other side the vaccine rollout, although it's hitting many stumbling blocks. No way are getting closer to a place for investors can think about where people are moving on an economy to continue to recover. So that's why you're seeing those kind that performance in those kind of places. I think When you look at the currency market, I mean, we know the dollar's been weak against the majors were quite some time. And I'm thinking that's got to be supportive to the notion that e m is the place you want to be right now. Yeah, I think if you're prepared to Canton, you on that side of, you know, dollar witness being a strong theme throughout 2021 month, and certainly there's potential For further outside in a lot of these, you know, emerging market currencies. But having said that, you know, maybe even still in in some of the developed markets as well, I mean, you saw today with the Australian dollar. It's it's outperforming. Family materially across the Jew 10 space, and that's because the jobs numbers they're the unemployment rate is coming down. And so it's not just the sex spaces. Well, it's also some of these other big G 10 currencies that continuing to do very well of the the U. S. Dollar itself continues. T O Slice South. Okay, Adam. Good stuff. Thank you so much for being with us and sharing your perspective. Adam Haig is a Bloomberg Global Markets editor in Sydney. Paul. All right. Thanks, Doug. Well, Candace Sekeras joins us. Now she's Bloomberg's and managing editor for Asia Finance to discuss the reappearance of Jack Ma. After a three month absence from the public eye will that prompted a Sigh of relief for 80 years, didn't Candace, but we're not seeing the same sort of reaction for Alibaba's Hong Kong traded stock..

Bloomberg Alibaba Japan Bloomberg Global Markets South Korea Taiwan Jack Ma Hong Kong San Francisco Ed Baxter Doug United States Paul president editor Asia Pacific Sydney Candace Sekeras Bank of Japan
2020: The year in review

The Art Newspaper Weekly

05:05 min | 1 year ago

2020: The year in review

"To look at the year's biggest stories. I was joined by three of the newspapers correspondence on the front line. Reporting the huge events of this year and their effects on the art world and a brady is our market editor. He's a buck is our contemporary correspondent and gareth harris is our chief contributing editor inevitably as we tackle the year's event to major global stories dominated the discussions the coronavirus pandemic and the death of george floyd and the fight for racial justice. I'd like to begin by talking about the effective of covid on the market. And and obviously this is your area of expertise. And i want to begin by talking about the fares. Because in a way they've been the marker of this exponential rise in the market over the last decade but they fail just as suddenly this year. I told me about fares on the covid back in march and sort of early mart taper off maastricht happened and it was kind of happened a week beforehand. It might have been okay and had happened week. Afterwards i think it definitely would have been cancelled and myself a lot of other journalists. Went out again. See the fat and it had very strange kind of atmosphere. He sort of jokingly foot tapping and elba bumping. But i think people sort of thought that something viruses affecting the outside world won't penetrate walls in the champagne and kind of that elite nature is. Shut down an exhibitor had got tested positive covid and after that so many people attend to call the virus at the fair and some of them were really radio and in intensive care and i think that was just a for me. That was kind of big wake-up cool overseas in the uk went into lockdown the us. After that the armory we happen to have the same sort of time but it was. It definitely was a kind of think. Reality shock that this is going to be something that really was can affect all of us. It didn't matter our were or whether you were off a this forest and have any kind of respect for face of mesa foundries and it's just as one said to me. Everything kind of fell off a cliff in late off training. And then you just saw this sort of chain of cancellations volvo fairs. I mean it's fair to say that the the big fairs have had a terrible year right. Yes they even had an awful. Yeah i was thinking back to when we speak russia beginning of the doing a year ahead. Podcasts i remember when i was leaving afterwards sending i think maggie a message saying we didn't mention carina. Virus and thousand mistake is at that point. We were recording sort of sauce january and we of it very much. They'll as an asian problem and a lot of the talk then was about whether autism hong kong was going to be cancelled and it was at the end of january but i think people still thought that it was going to be quite contained a there but after that east be the fence being canceled was knees. Now fast. Going ahead is news. Just the just hasn't really been anything since about much aside from these fares in in shanghai in november which did manage to go ahead that is a different world to rest of the world maidment. And i think we're really going to see any until about late. May next year by the looks of aside from say ought to buy which is saying that it will go ahead and march but whether actually will not very much master of debate gareth. That's why isn't it all. The fares are sort of basically postponing. And then there's going to be this glut of that happened in the middle of twenty twenty one. I mean i think the all world is beginning to think about a return to some kind of post virus malady but that's difficult is just said because the twenty twenty one calendar is looking quite crunchy. Really got balls. The hong kong is the first honor scheduled kickoff next. Mary and yams new york is next summer. So think there's about six or seven major phase in a row so within a few weeks within night mates at that tape off maastricht delayed Home call up. Awesome hong kong freeze. Neil and then our puzzle as well and then freeze. La in july. But we've been here before. Yeah i mean but we saw. The september was going to be back to back this year with fairs. That were delayed for the spring valley summer. They weren't they never actually happened. So i sort of we could be faced with the crunch or we could be faced with nothing at all this weird september. It's really hot today. It's difficult isn't because dealers and clubs helps to prioritize where they're going to go next spring some depending on all sorts of things like a vaccine and all other source of corona sort of things. I mean i just wonder how dealers will where to go. I mean i spoke to dominique levy a few weeks ago. And she said she's going to have to prioritize not would be quite difficult to do but i suppose collectors just itchen allow curator's itching to get back to in real life

Gareth Harris George Floyd Carina Mesa Volvo Maggie Russia Autism UK Hong Kong Shanghai Gareth United States Spring Valley Mary Neil New York LA Dominique Levy
Chinese Leaders Split Over Releasing Blacklist of U.S. Companies

WSJ What's News

01:23 min | 1 year ago

Chinese Leaders Split Over Releasing Blacklist of U.S. Companies

"Investors are hoping for a better day today after losses across market yesterday, but it wasn't a typical selloff stocks drop but so did gold and oil are markets editor Quinton web explains why that matters. It was notable various asset classes sold off together. So not surprising no oil sold of two because if you take a gloomy view on the economic outlook, oil is likely to fall in price nights. Villette gold sold off to gold has been wising for most of the year, but it seems also, it doesn't necessarily this year always rise in other markets falling. This is nothing like I should say the panic of where all asset classes because they was selling off. In tandem investors just rushed to raise cash but in this case, gold seems to dipped a little bit alongside stokes. What's notable is we've seen this kind of broader shift in sentiment I think in the last few weeks. So other summer of kind of almost relentless rallies, we've had several weeks now where stocks sorta traded sideways down and this was a very bad start to this week. So it'd be interesting to see how US equities trade throughout the rest of the week. Today. We get Nike's earnings report also Fed Chair Jerome Powell and Treasury Secretary Steven. MNUCHIN. Begin three days of congressional testimony.

United States Markets Editor Quinton Web Nike Jerome Powell Stokes
Gold price hits record high amid fears over coronavirus crisis

Balance of Power

02:42 min | 1 year ago

Gold price hits record high amid fears over coronavirus crisis

"Today, reaching new record highs and here to take us through. Why that's happening is our chief markets editor. She's scarlet food scholar. What is going on? Oh, David. I mean, this is a story that's been going on for a couple of weeks here, But today we did see gold reaching new high. The next stop is $2000 Alex, Of course, we did surpass the highs we saw. In September of 2011 and we say both gold and a silver on a tear here Now the stock of the R If we had to pick one would be G l D. This is the biggest gold. It's trading at a nine year high and DLD tops the leaderboard inflows. Last week it attracted $1.3 billion inflows. Bringing your to date flows to more than 18.5 $1,000,000,000 the second most after the vanguard S and P 500 fund. Why now, While we've got the Federal Reserve meeting this week, and the central bank will almost be guaranteed to signal lower for longer. A lot of investors are interpreting that to mean lower forever that is weighing down on the dollar, weaker dollar, stronger commodity prices like gold. In addition, you've got the new co bit outbreaks across the United States and, of course, renewed U. S. China tensions So in the same regard, we're also seeing Bitcoin get a bid higher as well. Bitcoin trading above 10,000 $10,000 at the moment now within the S and P 500 year looking for companies, Newmont Mining is the on ly gold miner there. It is higher seventh day of gains to a record high. Also among foreign company stocks. Common stocks traded in the U. S. Nine out of the 10 most actively traded our gold or precious metals miners and can see some of the names right. There was this guy when you talk about a weaker dollar and people buying gold, traditionally, one would think that's a hedge against inflation. Now inflation hasn't been anywhere for a long time. Should we be looking out for the possibly inflation is down the road. While people are definitely talking about it all that massive fiscal stimulus has got people worried that there will be inflation down the road. It's been deflationary so far, but we've seen break even rates start to creep higher and Bond yields are negative on a real basis when adjusted for inflation, So you've got negative really yields adding to the situation one thing to note here even as we talk about gold prices, heading to new record highs and potentially getting to 2000 on a nominal basis, Yes, there at a new level, but when you adjust for inflation there, so below the levels we saw in 2011 and far below the levels that we saw in the 19 eighties, so there is room to rise further. And that's why you see a lot of the analyst projecting higher prices for Gold Bank of America, for instance, sees gold getting 2 $3000 over the next year and 1/2 you B s a little bit more conservative, Forecasting $2000 by the end of September 2000 is definitely the next level Toe Watch. We don't know whether will happen in days or in a couple of weeks. A lot of talk there about how there might be some consolidation in the weeks ahead before we eventually get to that 2000.

Gold Bank Of America Gold Miner Newmont Mining Federal Reserve Markets Editor Alex David Analyst United States Bitcoin China
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:52 min | 1 year ago

"markets editor" Discussed on Bloomberg Radio New York

"It has to be gold today, reaching new record highs and here to take us through. Why that's happening is our chief markets editor. She's scarlet food scholar. What is going on? Oh, David. I mean, this is a story that's been going on for a couple of weeks here, But today we did see gold reaching new high. The next stop is $2000 Alex, Of course, we did surpass the highs we saw. In September of 2011 and we say both gold and a silver on a tear here Now the stock of the R If we had to pick one would be G l D. This is the biggest gold. It's trading at a nine year high and DLD tops the leaderboard inflows. Last week it attracted $1.3 billion inflows. Bringing your to date flows to more than 18.5 $1,000,000,000 the second most after the vanguard S and P 500 fund. Why now, While we've got the Federal Reserve meeting this week, and the central bank will almost be guaranteed to signal lower for longer. A lot of investors are interpreting that to mean lower forever that is weighing down on the dollar, weaker dollar, stronger commodity prices like gold. In addition, you've got the new co bit outbreaks across the United States and, of course, renewed U. S. China tensions So in the same regard, we're also seeing Bitcoin get a bid higher as well. Bitcoin trading above 10,000 $10,000 at the moment now within the S and P 500 year looking for companies, Newmont Mining is the on ly gold miner there. It is higher seventh day of gains to a record high. Also among foreign company stocks. Common stocks traded in the U. S. Nine out of the 10 most actively traded our gold or precious metals miners and can see some of the names right. There was this guy when you talk about a weaker dollar and people buying gold, traditionally, one would think that's a hedge against inflation. Now inflation hasn't been anywhere for a long time. Should we be looking out for the possibly inflation is down the road. While people are definitely talking about it all that massive fiscal stimulus has got people worried that there will be inflation down the road. It's been deflationary so far, but we've seen break even rates start to creep higher and Bond yields are negative on a real basis when adjusted for inflation, So you've got negative really yields adding to the situation one thing to note here even as we talk about gold prices, heading to new record highs and potentially getting to 2000 on a nominal basis, Yes, there at a new level, but when you adjust for inflation there, so below the levels we saw in 2011 and far below the levels that we saw in the 19 eighties, so there is room to rise further. And that's why you see a lot of the analyst projecting higher prices for Gold Bank of America, for instance, sees gold getting 2 $3000 over the next year and 1/2 you B s a little bit more conservative, Forecasting $2000 by the end of September 2000 is definitely the next level Toe Watch. We don't know whether will happen in days or in a couple of weeks. A lot of talk there about how there might be some consolidation in the weeks ahead before we eventually get to that 2000. Everyone is turning into a gold bug. As far as I can tell. The whole world has to know gold, but thank you so much to scarlet food. She is our chief markets editor coming up here that we.

gold miner Gold Bank of America markets editor Newmont Mining Federal Reserve Alex David United States Bitcoin analyst China
Coronavirus Confronts US Economy With Tough Recovery

This Morning with Gordon Deal

04:42 min | 1 year ago

Coronavirus Confronts US Economy With Tough Recovery

"Coronavirus is already the most serious threat to the U. S. economy since the financial crisis and D. honorable when markets editor at Axios says the dominoes are aligned for a severe recession that could erase much of the eleven your recovery Dionne explained as the court of viruses kind of exploded or really started to ratchet up here in the U. S. and also in place parts of Europe and around the globe a lot of folks have been asking the question is this going to cause a recession and I want to take a step back and point out a lot of the economic issues that particular facing United States right now but it's kind of gotten less attention have been swept under the rug a little bit that we put them all together sort of form this series of dominoes that really could set us up for a pretty tough recession right so some of these bullet points you get to get that you put together really raise some eyebrows like with one first off growth has declined over the last couple years yeah so explain that explain them or otherwise that could been getting glossed over well the growth rate in the U. S. has been declining even though you had this two trillion dollar tax cut the tax cut and jobs act was passed in twenty seventeen that was supposed to kind of kick start the economy is going at three four percent growth and it has been and not only have we not hit that three or four percent number we kind of we got close to it the year after the tax cut was passed and you've been declining ever sent so you've got not only the increase that two trillion dollars to that to the national debt but you had declining growth and economists were expecting a decline even further this year even absent this corona virus scares so we're kind of moving back toward slower growth books you know depending on who you talk to depending on how they did their metrics were expecting about two percent while under maybe a little over but the difference between two percent and recession is a lot less than the difference between three or four percent and recessions are so would you reference the the the tax cut and jobs act speaking of jobs up some was able was a labor markets done well why is this a concern but you see a lot of these are coming out the high paying jobs that we necessarily like to see a lot of these are these kind of service industry hourly positions while these folks don't have if they do have health insurance they don't have particularly good health insurance they are what would be classified as under insured that's one issue also they can't really take time off so I live in talking to a number of economists are they talk about a lot of folks will get sick and they won't miss work to keep going and potentially spread the disease to other people and then people who do stay out and miss work they're looking at you know getting either fired or having their wages docked and they can't afford that the the Brookings Institution study that came out in January found out that forty four percent of all U. S. workers earn barely enough to live on the averages about eighteen thousand dollars a year or about ten dollars a little more than ten dollars an hour when you make that a lot of times and some of the less expensive cities around the country you can afford to live to kinda get by him to your day to day routine but you're not able to put savings away for a rainy day for a time when you get sick so you just try to barrel through and if you can't build through you end up missing work and then maybe you don't make certain payments and certainly you're not going out to eat you're not going to the game hanging out with your friends things like that that really keep the economy moving speaking with Dion rebel in markets editor at axial C. although also writes the axial markets newsletter this piece is called the next dominoes in the corona virus economy you reference to obviously the president trump mentioned he'd like to see something along the lines of a payroll tax cut or some of the relief is that's a a political possibility it it's a political possibility not a good one because right now with the president has talked about is he wants targeted tax relief force in these industries maybe a cut in the payroll tax and the Democrats have come come back and said Hey you know we're not even interested in talking about more tax cuts what they want to do is they want to do it on the spending side and it's just kind of this ideological Democrat versus Republican ideals and I spoke with economist Claudia Sahm forward this piece and what she said was the the real issue is that they don't seem to understand no one on Capitol Hill understands that what we need is just a big package that says Hey the government's got this we're behind you we're gonna authorize a lot of spending to make sure the economy stayed on course and the people get the money they need to keep

Coronavirus Markets Editor Axios
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:23 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"Texas and now your allies and dolls language music plus Austin there you go sounds great yeah right well you all right have a great time with that what are you doing you're going to look into it because you've been in this city for forty eight hours you need to keep moving seven the law the plate every twenty four forty eight hours that's that's my role in what do you do it it's your damn lacrosse across tournaments up and down the east coast begin to hang out with the family since I guess one day okay compare notes I will be here and everybody else is safe from me all right yeah yeah both in those holes dean Carolyn from London I thank you both so much show I thought markets editor headed off to co host would you miss at four PM mostly time and they will send the stocks editor you'll be back with your chart and its stock of the day let's see the Bloomberg markets a bite of the day it's whenever the tells us what stays number Carol is thirteen we work said it fired thirteen employees accused of violating company policies it's the first major action since often took a majority stake in the troubled co working business the dismissals affected workers in Canada Israel Latin American United States is going to an email to staff from Marcello Clore who is that we work chairman and a topic exactly already chlorate said the violations were related to quote vendor selection in management process sees not always so secure yeah well I mean I like those memos from management just give me like cleaning up done and we work already starting to see it in strategy and Mr call are a is well known to the world of soft think it'll be interesting to see if he is he says I can call or Clore you can call me whatever you want to just call and Marcello and dog into is a Marcello Marshall okay and in the case that that right and a yeah okay making not enough never enough let's get over to world and national headlines father's president trump said today his administration will pursue raising the age limit to buy E. cigarettes in its plans to combat youth vaping he told reporters outside the White House that his administration will release its final plans for restricting Easter eggs next week we have to take care of our kids most importantly so.

Marcello Marshall president Marcello Canada Israel Latin American U markets editor dean Carolyn White House trump Texas chlorate chairman Marcello Clore Carol Bloomberg markets editor London Austin twenty four forty eight hours forty eight hours
"markets editor" Discussed on WJR 760

WJR 760

01:58 min | 2 years ago

"markets editor" Discussed on WJR 760

"We're Detroit comes to talk to run the Nile dodging bullets number of a coup sec Iran denies it carried out drone strikes on Saudi oil facilities secretary of state Mike Pompeii although blamed Iran for the attack on the World energy supply after Yemen's who the rebels claim responsibility correspondent nic Robertson leads perspective if it does drive up the prices certainly around would be a beneficiary of that it is struggling to sell its oil at the moment on the global market is part of that is to do with the U. S. maximum pressure sanctions and its economy is hurting come Monday oil prices are expected to spike in markets editor John defterios reports were already seeing an impact in supply the oil markets actually open up in Asia on Monday morning I would expect a sharp drop as a result of what we've seen here this is a very audacious attack against to keep facilities for Saudi Aramco in the context of overall production they produce just under ten million barrels a day tropical storm on their toes seems to have given a bit of a break to parts of the home was hit hard by hurricane Dorian meteorologist Derek Van Dam tracking that system the northern Bahamas really say from the strongest of wins and we continue to remove as the hours where on the probability of tropical storm force winds along the southeast coast of the United States I'm there to may still cause life threatening surf and rip current conditions from Florida to North Carolina former Attorney General Eric holder advise caution needs to be exercised should president trump be prosecuted after he leaves office he told CNN's acts files I think there is a potential cost to the nation by putting on trial a the former president and that are least be a part of the calculus goes into the determination that has to be made by the next Attorney General I think we'll should understand what a trial of a former president would do to the nation. member of the Ku.

Florida Attorney Attorney General Eric holder Derek Van hurricane Dorian John defterios markets editor Ku president CNN trump North Carolina Detroit United States Bahamas Saudi Aramco Asia
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:39 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"Iran the Nile dodging bullets says run denies it carried out drone strikes on Saudi oil facilities secretary of state Mike Pompeii although blamed Iran for the attack on the World energy supply after Yemen's who the rebels claim responsibility correspondent nic Robertson leads perspective if it does drive up the old prices certainly around would be a beneficial yet that is struggling to sell its oil at the moment on the global market is part of that is to do with the U. S. maximum pressure sanctions. and its economy is hurting come Monday oil prices are expected to spike in markets editor John defterios reports were already seeing an impact in supply the oil markets actually open up in Asia on Monday morning I would expect a sharp drop as a result of what we've seen here this is a very audacious attack against two key facilities for Saudi Aramco in the context of overall production they produce just under ten million barrels a day tropical storm on their toes seems to have given a bit of a break to parts of Bahamas hit hard by hurricane Dorian meteorologist Derek Van Dam tracking that system the northern Bahamas really say from the strongest of wins and we continue to remove as the hours where on the probability of tropical storm force winds along the southeast coast of the United States I'm there to may still cause life threatening surf and rip current conditions from Florida to North Carolina former Attorney General Eric holder advise caution needing to be exercise should president trump be prosecuted after he leaves office he told CNN's acts files I think there is a potential cost to the nation by putting on trial pay.

United States president Attorney General Eric holder Derek Van hurricane Dorian John defterios markets editor CNN trump North Carolina Florida Iran Bahamas Saudi Aramco Asia nic Robertson
Global stocks eke out gains on flickering trade hopes

Bloomberg Businessweek

06:41 min | 2 years ago

Global stocks eke out gains on flickering trade hopes

"But first let's set the business week and gender the boys are here Joe weisenthal markets editor for blood work and the co host of what you miss that's coming up at four PM all three time NBA TV and Dave Wilson are stocks editor the author of the chart and stock of the day with us throughout the show Joe want to start with you it obviously was a busy weekend yeah headline Weiss and so you come in on a day like today today you sort of see a more positive traits certainly more positive than what we saw on Friday what do you make of the news for what people were extremely confused this morning because there was trump saying that the Chinese had called him China didn't confirm that then someone who Chinese media figures at there there were calls but they're very low level of technical trunk came back and said they were the highest level by and large I don't think people really believe trump that being said the fact that he was saying it I think people interpreted to be a little bit he wants to get something done and I think it is there is a point of market volatility that curbs him and so you even so last night I thought was interesting he tweeted sick by the way when you look at my stock market performance you just heard from the election and not inauguration day which I read is him being a little anxious about the market volatility in remember on Friday during a selloff he joked about the volatility is like this is because I said the molten is jumping on the president's right which was funny but also kind of indicated that like I laughed but it was like I don't really care but then by Sunday night he was like and check kind of care and so there is a point where the stock market does sort of seem to curb his impulses a little bit so we're now we've not pull back about five percent more than five percent of the Dow and the S. and P. from their high stable so come on in on the trade what does it tell you kind of about the health of the market and how the market is reacting tweet by tweet if you well well I mean we're see what we've seen now for a couple weeks in August in training does tend to slow down you've you've gotten past the second quarter results there isn't much left as far as that's concerned you know the dollar store chains dollar general dollar tree and a few others this week but things are pretty well set as far as that goes analysts looking for third quarter decline in S. and P. five hundred profit we won't really get much were read on that for another month and a half or so the new growth that they're expecting contraction there as well not an outbreak contraction but slower growth you know more like three four percent so that's the backdrop and really I mean you just say get bounced around from day to day with with all the back and forth on trade and interest rates and whatever else you care to name but it doesn't necessarily suggest the market has a whole lot of direction here I will they say though I mean this is something I was talking about last week then you know you look at smaller companies and in effect they want for a bear market in the second half of last year and the S. and P. five hundred barely skirted one if you look at the twenty percent decline as sorry a reference point so you know what it is really hard to say definitively that we're still in a bull market here in what was seen lately calls into question even more and Joe we're gonna get into this later on in the show I mean what do you take away from the G. seven especially easy trying to assimilate everything that's coming into the news desk both from France from our colleagues and Washington and even from our colleagues around the world what what's been the sort of the big take away and leave out the tweets about the lives okay that's yeah you know there's a good good I think there's a few different things but I think as we've seen with previous sort of multi lateral meetings of heads of state it's always kind of like the trunk plus six show yeah right Hey is sort of how I think about it he tends to like you know he turns on the charm a little bit it's a weird Trumpy in Sharm that's not conventional yeah we always talk about how good his relationship is with though right and Trudeau intimate Cronin then you read these stories afterwards about how horrified right one was any so obviously we're we're the interesting thing about this one is all these other countries feel like they're kind of at the whim of his moves especially on the economy because everyone's gonna get affected Germany is affected by the trade war you heard Boris Johnson saying you know we would prefer trade peace to be honest even other heather ally so I think there is this sort of five right now where his actions particularly on the economy a really leaving them all feeling kind of a helpless and vulnerable and just sort of hoping he'll change course in some way but I don't know if that system well there's one thing that you need to know today at this Monday on it's been a busy Monday already day what would it be that's a heck of a question now let's say delay fresh off about deal making is alive and well yeah I like that I mean because you got this thirteen and point four billion dollar deal on the drug industry this arises treatment taz well owned by Celgene being solved and Jan so cell gene can combine with Bristol Myers and all the stocks are up to seven inches is looking like a win win win your time at some of the biggest gains in the S. and P. five hundred Celgene Bristol Myers ends and all of more than two and a half percent they can't say that for all the deals that are out there there are a couple you know smaller companies making transactions that are going over so well but you know you still got things going on couple little low energy company shall produces out of Colorado get together and their shares pop yes how about PVC energy which is up sixty percent S. R. C. energy up more than ten and a half percent so you still got that even at the time you know when you ordinarily would be thinking about the dog days of August yeah dog days indeed Joe weisenthal anything else top of mind for you for the to get on with your day you know I just there's a headline that just moved biggest monthly drop for ten year yields in slash house in fifteen it's so I think that's pretty pretty extraordinary way to put a cap on put a cap on what we've seen just this incredible bid it feels like it's slowing down a little bit but ma'am yeah that's not even over yet it's been it's been quite a few weeks sleeping I was sick from afar newspapers going online to do stuff all right why isn't all thank you so much they will send him back

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KKR agrees buyout deal with German media giant

FT News

11:26 min | 2 years ago

KKR agrees buyout deal with German media giant

"The influential German media group, Axel Springer is seeking to go private with the help of US investor K are the greet paves that freeing itself from short-term market scrutiny will play the past for ambitious expansion plans Katie Martin discusses the move with our ash CG and vice versa. So tell us a bit about the history of Axel Springer. Where does the company fit into the German media scene will re company was founded right after the war by access Clinger, the hugely powerful archetype, German media tycoon. The power of the company really has long rested on ownership of bills, the German, tabloid paper, which is the biggest selling newspaper in Europe and hugely influential still in Berlin circles. What has made spring, quite special was always had a very strong political stance is very conservative paper. It's as editorial principles that or the journalists have to sign up to those included before unification that papers had to work towards helping Germany reunify, very strong supporter of transatlantic alliance with the US, very strong supporter of Israel. So it's a sort of very powerful commercially successful. But. Also, the very value driven publisher. And so over the years, obviously, it has changed its make up quite drastically. Many of the regional papers were sold off and it's tried to reinvent itself. And it's quite successfully as digitally focused company. So obviously billed as the biggest title, but what would be the other name publications the rest of us over here in London might know about the other well-known old media opportunity, they have is developed, which is sort of conservative broadsheet daily, but a very sort of spectacle paper, whereas Il can be quite wild until very recently running topless photos on the front page every day, of course shipping, a famous people surprised by the financial times in two thousand fifteen but narrowly, failed them was beaten out by Nikai, but company has really tried to reinvent itself. As a digital company over the last decade in particular, and that has meant heavy investment in two areas. One is in the online ads business, both for property and for jobs. Where spring owns some of the biggest sites in Europe in the U K in France and Germany in particular. And that segment of the business now makes up by far the bulk of their earnings. So she decided very early on to exit some of their old media businesses and shift money into new media. I'm so on the one hand that is this online ads business. And on the other hand that's investments in properties, such as business insider, the US news sites which they bought in twenty fifteen and setting up a joint venture to launch political Europe, in Brussels, most change, what are the main shareholders wants take the company private? And what are the terms of the deal will there's been sort of falling out of love between management and shareholders in particular over the past year management, especially CEO matere Turner feels that Springer needs to invest invest, invest in the titular to show up the companies. Wrong position in the online business. And what has happened is that over the past year in particular, it had to downgrade its guidance largely because of the need for more investment. And so that's not on the management board. And clearly also either spring out of founder's widow who owns more than forty percent of the company's. Still, they feel that the company is at a stage where it needs to invest, where needs trade sort of short term earnings for long term prospects and shareholders just don't seem to be willing to go along with that. And that really is sort of Reuss of the idea to take spring a private and to do that. Feeder, Springer's widow and Mr. depth no who himself owns two point eight percent of the company have teamed up with KKR and they are offering shareholders, sixty three euros a share which is a forty percent premium to the undisturbed share price. But it's still quite substantially below where the share was only last year. So is this a? Good deal for the minority shareholders, who are going to be both out. Well, it was an interesting statement that came out of extra Springer on the day that the author was sort of finally made public and confirmed on the very same day they issued a pretty hefty profit warning. And so, basically the message to shareholders walls, whatever you think of this price that we're offering you, if you don't take it, you info quite a bumpy ride, because the company will prioritize investment over short term profit and over reliably raising the dividend, and these kinds of things that shareholders, like so probably the message to shareholders at least it's been it's not gonna get any better for you. If this deal doesn't go through. So Arash why would you know, big, shiny US private equity group like take care? Be interested in paying a premium to help the company take yourself by that. Well, there's a couple of dynamics at play. I mean first of all, kick yards a very big European presence. So they're already on the continent throw in the fact that actual Springer and build. In particular, come with a lot of social capital in the sense that you're playing with one of the most powerful and influential media companies in Europe and getting your hands on one of these prize, commodities is often very attractive for people if you think about the company's structure with free to stringer owning over forty percent of the company's control and Matisse dope. Never at their two and a half percent. The idea of ever really having a say in a company like this is a rare commodity. So if you're kick are, there's a couple of tractive reasons there now actual Springer has been thinking about this for some time, Amatya still who's the engineer of this whole transaction has been interviewing private equity firms over the last few months, I discovered in my reporting and selected KKR for a number of reasons. And so they are now teamed up and while importantly, the structure basically sees the kick AARP has to satisfy getting twenty percent of the minority shareholders. So if you think that free to spring controls about forty two percent Matisse stove close to three percent. They need to get to about sixty five percents delist the company, and so that's why the offer comes with the terms that says care, I need I about twenty. Sent a minimum of twenty percent of the shares out once the private care will still be a minority partner, but they will have influence and so on so forth and in the European private equity environment. There are very few deals where you can put a check of a billion euros. I work in one go. So this is quite attractive for a number of reasons and obviously, the main reason why company like KKR goes into bed with anyone is to make a ton of money for its shareholders. So that's principally the goal here. So speaking of making a ton of money what all the plans for the company beyond the deal will you got to imagine there's a couple of things going on. There's probably some structural changes to the company and its alignment and jobs, which will probably be better executed private and out of the headlines wants. It's private. We don't get to see what's happening. It's a lot harder comes a lot less transparent. Some of the difficult decisions that public markets, create for management will no longer be there. So that means the restructure structure, fire people that will happen outside the glare of the public eye. Maybe some of the dirtier work inside the portfolio of assets that isn't as nicely managed. Can be shut off in ways that again, don't get the same attraction and equally. If you want to make big bets on certain other businesses, you then have firepower and the ability to go for it without public markets judging the transactions. So you have to imagine that there is a plan for kick AR to basically bring firepower to the table for them to pursue transactions to then ultimately see them in maybe five years time returned to market at a big profit for everybody. So companies have traditionally preferred to raise cash from shareholders on the public markets toward extended this going into reverse. This is a bit of a unique situation. And in fact, Qiqihar has experienced doing this in Germany, where there's typically large foundation or large shareholder as the cornerstone investment care help, take a market research company called Jeff K private in Germany, similar structure almost the same playbook. Twenty percent added onto the deal to delist and to it that way. It's a different form of LB OBE leveraged by because you're not buying out the whole thing as majority partner, you're buying it as a minority part. But all the advantages of elbow exists, as long as you can work through the management structure, which you won't have as much influence over. So I don't think this is a major trend in terms of public private markets. I think it's unique to companies where there's a cornerstone investor with forty two percent sitting there and the options are limited. So this is kind of a unique structure almost German specific and a lot of ways and care has done it before. It's very specific to kick AR. So what are the big challenges for the company now is it getting the daily of the line, or is it taking what could be quite painful decisions once, that's all done? They probably have a plan for what they're going to do once. It's all done the hard part is getting across the line. So if you're kick AR union to make sure that twenty percent of the investors sign up to this the could play hardball with you. There's history of people like Elliott and some really clever investors going in enforcing railroading companies to pay more money in deals. There's a added complication, which is that there are heirs of the Springer family who also have roughly ten percent of the company axel. Vents Springer spends finger and Ariane Melanie Springer who have about ten percent combined now. My reporting suggests that it's not all hunky Dory on the family side and it's not like everyone's on the same page. I'm not saying it's like HBO show succession, but, you know, families are complicated in the politics within that is always tricky as we've seen in, in other media family like the Murdoch's. So the question is will these to put their ten percent in, because that already gets K are halfway there, or do they take the view that this is going to be, so profitable once they take it private and fix it up that they should stick around and that automatically add some complication because then it shortens lists, the view is they're going to ride the journey still and want to get rich off what happens. So they'll have to convince the other shareholders, this is a good deal. And that's the primary challenge right now families, plus money always equals drama. Right. And great headlines and headlines, she great for us. But Tobias how is this going down in Germany? How's it being viewed, this surprisingly little political reaction to this? I mean as the rash mentioned. Spring is hugely politically influential, all the perhaps, less with the Mackel government than with all the previous ones. I think it's in very much presented here as a move to shore up the sort of long term future of the group. It's been presented and also launch the scene. I think as a move in favor of sort of a long term view, rather than short-term pressure from the capital markets. And as we know that kind of discourse tends to go down quite well with the German public. So they're certainly been very little criticism of this deal. And I think there's also sort of expectation or hope that extra could use this window can use this freedom of being a private company to bulk up and protect itself against, for example, new competition from the likes of Google, which is pushing very hard into the market for online small ads. So I think this is a deal that is really metro little criticism from any corner him. That was Katie mountain. Compass markets editor, soaking Arash Markazi corporate finance deals editor and Tobias the Berlin correspondent, thanks for listening. Don't

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"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:15 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"Airman on the expeditionary force you about to embark upon the great crusade torn, which we have striven, these many months, the eyes on you. The hopes and prayers of liberty loving, people everywhere March with you in San Francisco. I'm Ed Baxter. This is Bloomberg our guys. Thanks very much. The time is eight and a half minutes past the hour. Let's say good morning to Bloomberg's global markets editor, atom Hague, who's going to help set up the trading day for us today. Adam less backup a yesterday. We had a massive bounce on Wall Street didn't really carry through too much in Asia, other than in Tokyo today, we had a modest bounce in Wall Street, and we were a little bit iffy here. So the Powell put is one idea, but there was also just the sort of oversold bounce that played into it. And we still haven't got any word of the Trump put and that would be bigger wouldn't it? Yeah, exactly. And they really Brian the to kind of big ideas that will walk into a grappling with the moment on the one hand and you know how far is market pricing on tour. Expect lisa. People in the US, if you believe the market, and then you already in a situation, which is starting to ease financial conditions and one or two. Right. Cuts over the next twelve months, we'll say and still prices have held up reasonably well in, in this environment. But, but the dichotomy now between what the market telling us, what equity the pricing is, is starting to get to, to an extreme, which is worrying some people to the extent that they're saying, you know, by by the end of this year. You know, sometime over the next five or six months. Unless you get some kind of resolution them on trade as we get twenty twenty when when Trump has to get into full campaigning for the election. He maybe in a situation where he doesn't actually need to do a deal tool either. He getting really good deal. It works for him or did I told him in which case you do start to get full on follow-through into the economy. You don't get a materialization of, of a second half recovery in the US and, and, you know, you start getting closer to two recession type scenario. So as you put it does the fed have enough Emma will one side. But on the other side, we will sustain gold being really recent out before is there anything in that technical setup to suggest that we could be reaching an inflection point there. Yeah. I mean, it's certainly been well-supported Showtime, and there's plenty of people looking at some of the way that is the last fifty days, one hundred days to suggest that there is further upside momentum. We played it every reason to be any golden in, in this kind of environment that the key question for gold investors released. It's how it things to the place backed up from where he, and your continued kind of inflation, on the sheet environment, which seems to be, what central banks around the world telling us, how well does go behaving environment, Bassani initial tournament continues to be well spotted. Right. Thanks very much for joining us here. Live on Bloomberg daybreak Asia Adam Hague, Bloomberg's global markets editor. And there's another twist in this to N P R by saying that, if the US imposes.

Trump Bloomberg US Adam Hague markets editor San Francisco Ed Baxter Asia fed Powell lisa Brian Tokyo Emma one hundred days twelve months fifty days six months one hand
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:44 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"The NASDAQ one hundred index down one point eight percent gold up one of the half percent. Thirteen twenty four. The San west Texas intermediate crude little change right now by less than one tenth of one percent at fifty three fifty three a barrel. I'm charlie. Colloton. That is a Bloomberg business flash. Charlie, thank you so much. You're listening to Bloomberg BusinessWeek here on Bloomberg radio. Jason Kelly and Carol Massar with you and an eighteen billion dollar deal. A usual suspect behind it, Carol Blackstone. We're gonna get into that a big pivot though, because as I was saying to June a few minutes ago. It there's an Amazon aspect to this. It's really kind of private equity looking around the corner. In many ways, having conference, call for an upcoming panel that we're gonna be doing when we're out in Arizona at the Pershing inside event. And I feel like Amazon pops up in so many different ways. I feel like that's the factor that everybody has to gauge themselves against this deal has an Amazon element. Of course, also gonna talk a little bit about WI fi and five G with the CEO of Boyne, go well known to those of us who are always looking for a hot spot. He's going to be along to help us understand what five G will actually mean realize, now that's assuming that we get past this trade, worry and. While way. And all of those things, which may actually have an impact on how quickly that's all adopted. All right. Speaking of not a hotspot today, some of the tech names, and we'll get into that, as we talk about the trae, let's set the business, BusinessWeek agenda, Joe Weisenthal markets editor at Bloomberg news. Host of wedge, amiss coming your way at four PM Wall Street time on Bloomberg television. He's in our Bloomberg interactive brokers studio Loic, Dave Wilson stocks editor at Bloomberg news. Joe, what's catching your attention market trade? Interesting that Bullard headline cross beside markets kind of move a little bit on that news. Where are you? I mean, I, I think the big story is sell off in tech and all of these headlines that we're getting starting Friday night about antitrust probes ramping up for all of the big ones in various ways. We don't have many details, yet about how significant they are. But the point is the regulatory bodies in Washington, whether it's the DOJ or the FTC it looks like that engine is starting to crank to life a little bit. It google. Really strong losses for Google. Facebook is down seven and a half percent. Huge move for Facebook, apple also apparently, there might be some scrutiny applied to them. You know, it's interesting because may was rougher big tech, and the story was well, a lot of these companies are somewhere another in the trade crosshairs, and June is come and other parts of the ark. It are picking up, but it's a rough start to the month for the text waiters also down. But that explains, maybe what's going on the NASDAQ. 'cause we do actually have a gain in the Dow right now and call it little changed on the SNP right now. Dave. Oh, yeah. There's quite division, terms of how things are shaking out with stocks, given the focus on technology companies. You're looking at the eleven main industry groups at five hundred eight of them are higher. Yeah. So if you didn't have the issues with Google or if you wanna use the proper formal name alphabet, as well as Facebook and Amazon, and apple mean, you'd probably have an S and P five hundred that's doing a whole lot better than it is now. And certainly NASDAQ would be the same because it really is concentrated in when SNP Dow Jones closed the communication services index, and that's Facebook that's out of bed. That's a whole lot of other companies Joe folks have been fairly bullish on, on tech this year. Right. I mean. Yeah. Fair to say Google down for the year now. Yeah. Up until the month ago. It was just back to the races red hot. I mean it's ugly and it's not even you know, someone was pointing out earlier. They're all doubt Salesforce for point. Six percent. Not you know other workday, another popular enterprise tech company down five percent. So it's really people are just dumping a lot, and apple an apple and apple even on a day, where Tim cook is on stage. This is usually the time when everybody's how much of what's going on with tech is political, because I find the timing interesting when so much is going on with concerns about trade, and we're focused on that with Muller report last week. And I do wonder how much is it potentially the White House saying guys, let's move along little bit on this? I mean, it's a long way between what we're talking about today towards a break-up an anti right antitrust. Com companies how long did that take till I'm just saying before anything like this comes to fruition? But on the other hand think about this. One of the reasons that people get bullish about these companies is because they liked to magin new areas that they could dominate so you talk about an Amazon, maybe it's going to be could get into restaurants, or maybe it's going to get into delivery, people from the financial sector and that's for maybe it's going to get into banking. But if you have this concern of antitrust hovering over it, then, you're like, well, do you really want to like be the company that keeps adding all of these new areas when you're already breathing down your neck, about anticompetitive behavior, and so part of the bull case is predicated on future profitable businesses that don't even exist yet, then maybe you start tapping the brakes a little bit from TJ standpoint on some of these new live, and maybe look at the valuation, or something right? The different metrics. Of course, you had the report come out the other day. Amazon, supposedly was interested in boost mobile, which is sprint and T mobile US are going to have to sell they wanna get their deal done. And so they might become a wireless company so you had a and people in those stocks. So it's clear, the Amazon effect is still out there. And the question becomes, if this company and others, get that kind of scrutiny. I mean will that affect kind of fade away? Much tecom. That is for sure. Dave Wilson stocks editor for Bloomberg. He'll be back with your stock, and chart of the day, about something much ado, about something indeed. Joe Weisenthal Mark markets editor for Bloomberg. You're headed off to TV coast of what you miss coming up at four PM Wall Street time. Well, let's do much ado about the Bloomberg markets today. Carol all right number. That tells us a lot today's number is thirty. Nice round number Chinese sensors are putting the country social media sites on lockdown ahead of the thirtieth anniversary of the crackdown now as the June fourth anniversary of bloody student protests. We all remember this so vividly that happened, of course in nineteen hundred nine as this anniversary approaches ten cents messaging app. We chat and micro blogging site. We've oh yes. Right. We bow barred users much changing their profile, photos, and other personal information. Video streaming service. Billy said it's a spended real time comments. And other features for technical upgrades. They often do this though. We often see this head of the anniversary that we do. See social media clampdown amazing to think about if all of this -ocial media had been around in one thousand nine hundred nine how TNN square and everything that happened might have been different or might not have been given how as you say. How strong censorship is in China on all of those media, social, and otherwise. All right, in the meantime, let's get a check on your world and national news headlines. Ever to Bob moon. We go in eleven three owners from Bob by Carol. There is the official greeting for President Trump..

Bloomberg Amazon Google apple Facebook Dave Wilson Bloomberg markets Bloomberg news Bloomberg interactive Joe Carol markets editor Charlie Carol Blackstone editor BusinessWeek San west Texas Carol Massar
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:11 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"NASDAQ one hundred. Index slumping by two percent. The tenure yield two point three percent right now. We have got oil, a major story today down five point eight percent fifty seven eighty five barrel talking about west Texas intermediate crude Brent is down five percent. Sixty seven forty three a barrel and gold higher by nine tenths of one percent, twelve eighty four the out so indeed, lower day across the board, here, risk off the major theme. We've got more on the markets coming up. I'm Charlie Pellett. And that is a Bloomberg business flash. Charlie, thank you so much. You are listening to Bloomberg BusinessWeek, Jason Kelly, and Carol Massar and speaking of risk off David Tepper. He's going pure family office, not gonna manage outside money anymore, all over again because we've heard this story, a lot from a billionaire or big time hedge fund investors, and they're just saying we're closing up shop. We're going family office, and here's another one. And this is our most read story on the Bloomberg today. Bright. What's interesting about this is, you know, sometimes the joke, is people wanting to spend more time with their family. David Tepper I think he wants to spend more time with his football team. He bought Carolina Panthers. Record-setting two point three billion dollars. I think we do. I think we do. I think are reporting bears that out we're going to ask SRI horizon. He's going to be along with us to talk about that in just a few minutes. Also, some other fun stuff to get on Amazon today, we're going to get into it looking like they're going deeper and deeper into maybe figuring out, perhaps how the mind works, we're going to get into that. This is too among our most read store, Amazon's gonna tell me what you're thinking. That's scary. All right. All right. Let's set the BusinessWeek agenda now. Joe Weisenthal markets editor for Bloomberg. Also, the co host of what you miss. That's coming up at four PM Wall Street time on BTV Dave Wilson socks editor for Bloomberg. He also brings us every day, his chart and stock today. So, gentlemen. Nice to have you here with us as always Joe. Let me start with you, because one of the things that caught my attention is Charlie was running through the numbers oil down five plus percent. Yeah, pretty brutal. I mean, I think perhaps there had been some disconnect brewing between oil, which had been elevated, maybe due to concerns by geopolitics of tax and stuff like that. And maybe some ketchup there is the risk on mood really risk of mood really sweeps it down, but it is sort of emblematic of the intensity of the selling today across multiple, pissed intraday decline since December twenty four th remember that, Dave Wilson, you got to come in though. Let's break down. How broad-based is the selling today pretty darn broad. I mean, not as broad as we've seen in some of the recent declines, but you look at six stocks down the S and P five hundred everyone that's up. I mean that gets your attention for sure. One thing that's interesting. Is that we're seeing kind of the bigger picture play? Trade issues play out in some individual stocks. You look at best buy the consumer electronics if you just focused on their first quarter earnings, you think things are fine profit be less average estimate and Bloomberg survey. And yet the shares are down more than five percent. Now they have a management transition coming up their CEO, who bear Joe lease leaving in July and the chief financial opposite succeeding him. Nonetheless, you know this company that's faced with having to pay more to stock the shelves given what's happening in terms of tariffs. The idea of Chinese imports going twenty five percent from Tampere sent well that affects the company directly and then sort of the different angle on the trade front, you're seeing play out with the steel producers, and I say that because Credit Suisse, you know, cut ratings cut price estimates and they're looking at this week. You saw the lifting of steel. Import tariffs on shipments from Mexico and Canada, so US producers are gonna get hurt by that. I mean you look across the board, the stocks that they mentioned are down steel dynamics lower by more than six percent. US steel four point three percent. Question to be have having at this point. And I think some of the stories like reading through some of our folks, come and cry since mother ends follow the markets for us, Joe. Is that it really depends on how long lasting I thought I said, someday there, one story, that's this is going to go out to twenty twenty something in terms of the US, China trade problems. I know who the heck no there's no way to predict a situation like this. We could have some sort of resolution at the G twenty meeting. Theoretically people say that still possibility. It could be a permanent tech Cold War, or industrial Cold War market coverage. Right. For your and I'm just curious like some of the discussions, you guys are having in the newsroom. We'll be I think a lot of it's still unclear how much. Much of what we see is strictly trae related because like even today and today, feels a lot about trading Xavi. But we've had lots of dire trade headlines over the last two weeks and some days, it doesn't move the market at all. It's not totally consistent. One thing I've been talking to people as well, how much of it is related to the fed and their refusal. They keep pushing back against rate cuts, and that's also a form of defacto tightening. And you see that in the flattening yield curve. Right. So there's a lot of different. There's a lot of different things going on here, but it is really complicated. I think to trade trades, right. And you know, going back to what David was talking about with those stealing aluminum terrorists being lifted from Canada, Mexico that gay people, some hope that US MCA as Carolina to call us Mika. He says it all just rolls right off the time. She's trying to make it a thing. But anyway, we'll leave that to the side. But, you know you do see these little things happening that ten. Move it along. You see some compromises feels like coming from the Democrats on this, but you don't know where the end is something important to think about is that the way people often model the impact of trade on stocks the start to do math, or they do arithmetic in hummers. Do we sell to China, how much does that cost? Let's add some tariffs etcetera it, and then they try to extrapolate that earnings and therefore the stock market, where is it might be the case that the better way to think about it as trading Zaidi will hit the stock market and the stock market volatility will hit the real economy. So it's almost like the causation goes backwards. Ready right with our story on the Bloomberg earlier this week about how CEO's joining the C suite and in just the time spent on figuring out how to what do we have to do in terms of our company because of the S China trade talks, and the breakdown of them. And what changes do we potentially need to make corporate, America's already being diverted in terms of their time spent on this issue companies like best, buy or having a figure out how to deal with the issues? They're facing. Or spend time trying to push the Trump administration to come to some sort of a deal that would help them out. I'm really glad you brought at best buy, because that's such a canary in the coalmine in a lot of ways. Dave Wilson stocks editor for Bloomberg. You'll be back in a bit with your chart and stock today. Joe Weisenthal market. Senator sending you off to television, would you miss coming up at four PM Wall Street time? All right. Let's do the Bloomberg markets by the day care, one number that tells us a lot, today's number two trillion dollars, global rubber taxi market might be worth more than two trillion dollars a year by twenty thirty and mass adoption of driverless vehicles could provide a significant boost to a number of existing sectors. That's according to UBS group AG analysts that estimate is based on a UBS evidence lab simulation. I love this, a simulation of a robot taxi fleet New York that optimized routes and writers connections with vehicles. They also included metrics, like running costs utilization rates margins and charging station networks. Size. How cool is that? It's so I was really impressed by the breadth of that figure two trillion dollars. It's massive fat is amazing coming up. We're going to talk about David Tepper, getting out of managing other people's money and get the managing that football team. I'm telling you.

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How U.S.-China Trade War Impacts Tech Industry

WSJ Tech News Briefing

05:57 min | 2 years ago

How U.S.-China Trade War Impacts Tech Industry

"Support for this podcast and the following message. Come from Deloitte, a global leader in digital transformation, helping clients apply technologies like cloud an AI to their unique business challenges. Deloitte got com slash look. Again. This is tech news briefing. Im Tanya boost, does reporting from the newsroom in New York coming up, how heavily does the US China trade war impact your world of tech. Could it mean the hiking of iphone prices? What does it do to the volatile state of cryptocurrency? And how soon before things get resolved for big tech finding out after these tech headlines. Google has agreed to refund advertisers for ads purchased on its ad marketplaces. That ran on websites with fraudulent traffic. This follows a lawsuit, claiming the tech giant was withholding the payments, and according to documents viewed by the Wall Street Journal and 2017 Google offered limited refunds to those who had purchased ad space. The kind that resulted in ads running on sites. Who's traffic was artificially boosted by bots. The journal says Google has modified contracts to alter its policies regarding litigation. Brought by advertisers separately. Google promise that it's advertiser clients would receive refunds for ads that ran on sites. With fraudulent traffic. The world's biggest video game publishers are paying popular gamers, tens of thousands of dollars to play their latest releases live over the internet. But why they're hoping to break through to buyers which is proving to be a tough task in a world where games like fortnight, hog the spotlight electric arts activision blizzard, Ubisoft, entertainment, and take two interactive or among the publishers, making big payouts, for the live streams the amounts could go as high as fifty thousand dollars an hour for top celebrity gamers. And as for hints of what you can expect down the line, take two plans to pay streamers to play borderlands three when the comedic shooter game launches in September and plans to use live streaming again for the Tober release of its special ops shooter game. Tom Clancy's ghost recon breakpoint. And now if you wouldn't mind, let's talk about the state of chips demand for chips specialized for a I in particular is growing at such a pace the industry can barely keep up. And the journal makes the case that chip king, and video may be losing its dominance case in point. Qualcomm unveiled a new AI chip last month and Hewlett Packard, just on Friday reached a deal to acquire Cray, Inc. The company that makes high end for supercomputers that are increasingly being deployed for AI research, and you can expect more, where this came from sales of such chips are expected to double this year to around eight billion dollars and reach more than thirty four billion dollars by twenty twenty three coming up, how the US China trade war impacts, the tech industry. Support for this podcast and the following message. Come from Deloitte, a global leader in digital transformation, helping clients apply technologies like cloud and AI to their unique business challenges. Deloitte, Kat com slash look. Again. As reported in the ever escalating US trade war with China. The White House has threatened to introduce twenty five percent tariffs on two hundred million dollars of Chinese goods. So how does that impact big tech? Let's us one of the US's, most valuable tech companies as an example, apple and more importantly, your apple products barons, Alexandra Skaggs has more Apple's earnings per share could be hurt fifteen to twenty percent by higher tariffs. If that happens, the smartphone maker may have to raise its prices or just accept lower profitability. China is a large part of apple supply chain and facts that estimates apple gets almost twenty percent of its revenues from there. So apple investors are probably hoping that the US and China reach a trade deal over the summer. In addition to tacking on the already announced five hundred billion in terrorists that could raise prices on almost half of everything. The US buys from China, president Xi Jinping said he would. Tally eight some say China could impose new taxes and added regulation on US companies. Others say China could introduce slowing deal approvals or encourage citizens to boycott US goods. Also impacted by the trade war escalation bitcoin. The favourite crypto currency of the masses has climbed ninety percent this year. What do we make of that? It's always tough to say. What makes bitcoins price move, but prices were low for most of this year until the past month and a half. Bitcoin started rallying right around the time. The US is trade war with China started heating up analysts say that investors are selling China's currency and moving into cryptocurrencies. But according to many analysts wing, including real clear markets editor, John Tammy, there are simply too much money in big tech and the US China trade dispute will have to come to some resolution soon. The Chinese could wait longer. They've always looked at things from more of a longer term perspective. But keep in mind that President Trump has twenty twenty two. About the elections coming up the last thing he wants to go into the twenty twenty elections. With is to explain a crash stock market a weaker economy. Donald Trump has staked his presidency on a rising stock market and economic growth. You cannot get that, while also conducting a trade war with one of the biggest markets in the world, for some of the US, as most valuable companies just use one example, apple, the most the second, most valuable US company right now gets a third of its sales from China. You can't be warring with that country for the latest details on the US China trade dispute head to wsJcom wrapping up the tech news briefing for now. I'm Tanya boosters reporting from the newsroom in New York. Thanks for listening.

United States China Deloitte Google Apple AI New York Wall Street Journal President Trump Activision Tom Clancy Donald Trump Qualcomm Cryptocurrency Hewlett Packard Ai Research Xi Jinping
"markets editor" Discussed on WAFS Biz 1190

WAFS Biz 1190

04:46 min | 2 years ago

"markets editor" Discussed on WAFS Biz 1190

"What the box of the best of daybreak Middle East African National Congress has extended its quarter of essentially grip on political power in South Africa, winning fifty seven and a half percent of the vote. We got more with our emerging markets editor, Justin, Colorado. Bottom line. Sixty percent was always kind of a moving. Target wasn't a fixed number. It's just kind of consensus number the cruiser point. His head. The Roma Poza has reversed the trend of declining majority popularity somewhere in, in the NC. I'm that's crucial investors. The takeaway, here is that he's got some kind of mandate that will allow him to address the very serious issues. South African economy faces he's being president full around a year and a half. So it hasn't really had time to do very much considering the opposition and the within the NC that he faces now he may be able to get round that to some additional extent, and do the things like reforming Eskom working for that, to reduce state capture in the corruption, that was so characteristic of Zuma administration set up behind set up hearings. He has done some str. -tural changes in terms of the corruption allegations, etc. I wanna talk about the Brown. We've got it on the screen Justin, you can see the one year performance, and you could see the turn in the dollar done in the strengthen the want and the Yuan. The Ron in the past, I suppose five days, a nice sweet lower think that the momentum from Ramaphosa being returned to power is already in the price at fourteen in or is there more strength to come very probably. I think it's forbids phase, I think it's probably priced in, of course tomorrow when global markets open, and we have all the additional uncertain town folding, with the trade dispute that could limit the Wren's gains from the crucial point is how quickly Mr. Ramaphosa can send a signal that he's serious about getting on with things appointing a new cabinet and so on so forth, that'll keep them going and bring the phone investors coming back. But it's you know he'll have to quickly now and show some signal that he's going to act on this mandate. We just brought in the rematch we're looking at emerging market stocks. The worst the worst week for emerging market stocks of toba twenty thousand we wake up tomorrow morning with, again another double punch from Donald Trump. Is that things could get worse? So we've only twenty five percent on a dish a my times last week. I'm much more whether it be in your EM markets this week, will it all depends on how this issue unfolds. And how China retaliates if we get some kind of deal, obviously, then we're back to where we were we'll say a lot that the optimism coming back into the market. That is not at this stage. It doesn't look very likely. It's very much helping in the you'll see we still think about this being very, very much uncertainty trade at the moment, perhaps it's more of a fun. It's turning into more of fundamental trade. Let's turn to the Middle East markets and Tobias benchmark. It's which was worse, performer to the best in just twenty four hours this week. We got more with equity supportive, Pepe Jacko before looking at the region's wider markets with yon Abdeen from eighty investment management. It's been very intense around here in the past two sessions. And well, we just talked about all of those political risks that you guys mentioned. Let's sit on Monday. They were extremely important to guide trading in the region. Dubai slumped more than eighty other benchmark here in the Gulf and actually in the road. It was a terrible session for, for the main index here in Dubai. But then we had MCI delivering there may review, which actually good news for two stocks that were expected to be kicked out of the main EM index. They are eat, mar development Emaar malls. Of course, both of those stocks as surged yesterday. More than eight percent, each and also pumping this stock of the parent company emerged properties, which is a bellwether for real estate here in Dubai. All of this just provided a very, very good scenario for whoever wanted to Jim back in the market, the index climbed three point five percent. And it was the best. Performer globally. We're going to continue that conversation, but the CEO of a little bit later on in programming. I don't by because they got battered yesterday morning. Didn't they? I mean we ten percent off the price the open. They just didn't make the cut to any further detail. Yes,.

Justin Dubai Mr. Ramaphosa NC Middle East African National C markets editor South Africa Middle East Donald Trump mar development Emaar malls Eskom Colorado Pepe Jacko CEO Gulf Zuma Ron Abdeen president
How are markets reacting to this week's failure of trade talks?

FT News

05:18 min | 2 years ago

How are markets reacting to this week's failure of trade talks?

"A market's reaction to this week's failure of trade talks between the US and China, Katie Martin, the F capital markets editor discusses the impact on equities bonds and currencies with Michael MacKenzie. The F T senior investment commentator. So it may be difficult to tell where we're going on trade talks to in the US and China, but it's certainly fair to say that those talks taken a ton for the worse over recent days, the US, obviously ramped up punch of tariffs on Chinese imports and China has responded in kind the market didn't really see this coming, and it doesn't like it might tell us what's going on on the markets front where I think the equity market has stood out from other areas such currencies and US treasury Bolton's this year. It's simply assumed that there was always going to be a trade deal, and to certain extent that still the call consensus amongst many that are ultimately we will get a deal the equity market has come under pressure. Some would say it was already looking like it was going to have a tough SABA because it's rallied so much this year and the two big questions. Of course, are is a global economy actually going to pick up steam and therefore boost corporate earnings towards the end of the year, and is China stimulus gonna flow through through the global economy lug and has in the past. Now trae to sort of being on the back burner really since the beginning of the year when the temperature sort of eased off between Donald Trump and Beijing is now come back and it's come back with a vengeance. And equities don't like it. And in particular, we've seen too key sectors, which really all the post children of the global supply chain and radio of globalization of the last three decades, and which is so important in terms of the trading relationship between China and the rest of the world carmakers and chipmakers they've really been knocked this week. We getting a little bit of a bounce back. But as classic bounce. You've had the worst one day selloff in stocks. We've seen this year. So you can say that equity market is shaken a little and so really the thing to watch for now is when do people stepping in and buy the dip. Unfortunately, the time line for trade deal. It was assumed before that the upcoming g twenty meeting Japan at the end of June would sort of be the big song and dance signing ceremony. When. Now. So the hearing from both sides that well, actually, g will meet with Trump, and maybe they can salvage something. So we've got a very uncomfortable waiting period, and that's gonna leave equities vulnerable to tweets from both sides. And I think in that environment. You'll see a lot of investors just buying insurance. They buying options put options against the S and P and other equity benchmarks the coming in and buying vix. Volatility which had seen it out of control lows to the to say that the market didn't see this coming. You can see that in the volatility indices. The market was not priced for any volatility. Although interestingly enough, the monthly survey from Bank of America institutional investors, says a lot of them have been buying insurance. So I think you've seen this you've seen treasuries and other global sovereign bond. Yields falling and finding buyers whenever has been a rise in yields as year because people have been adjusted their portfolios. They want to have the ballast or insurance of Covent bones. Against their equity longs. Now from a central Bank perspective where does the pain and up landing from this is it on governments through fiscal policy. Or is it ultimately on the consumer is not going to be the bit that they're gonna worry about what I think if you see the US escalate tariffs. So they're threatening to apply twenty-five percent tariff to the remaining three hundred billion of Chinese imports, many these consumer products, and that would really be felt by consumers. I think companies would be reluctant to absorb the hit. So that could have a short-term effect on inflation and push it up. Although I think the bull market is taking a much longer view here in thinks economy is late cycle in the US. It's slowing down. What will voluble than people think? And that's why we've been seeing inflation expectations for five and ten years falling since the middle of last month. It could be interesting from a US critise perspective in the sense that it's only a couple of weeks ago that we were talking about potential earnings recession. US Listrik companies that faded away because results beat expectations. And now, suddenly as you say companies are going to be in that situation where they have to calculate how much this costs. Can we absorb ourselves and how much we have to pass on to consumers the willingness to pass it onto consumers? I'm going to guess is going to be quite low. So this just mechanically has to eat away at corporate earnings. Right. Does and against that. Of course, is if you continue to see long day to treasury yields fall that in the past has helped keep equity spinning, but I think we're reaching a point where we're going to see I would say the summer the message from the bull market is fairly Dowa. We know that bombs to take guess a less optimistic view than the equity punch. Yes. But we are going to see whether or not the slowdown US. Call me really is a lot more material than people expected the moment. And if that is the case, and if US corporate earnings don't rebound as their and that's sort of the forecast for the end of the year, particularly in the fourth quarter. Then I think US equities have a tough time. I think it's a sideways market a best from here sideways, but wobbly, wobbly

United States China Donald Trump Us Listrik Katie Martin Michael Mackenzie Bolton Markets Editor F T Bank Of America Beijing Trae Dowa F Capital Japan Twenty-Five Percent
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:33 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"Going to say the next thing. Which is what an amazing video. You always wanted. Like that like how as an expert handicapper at a horse. We Dana sitting in San Francisco yesterday that came up with the TV we're like. It was really cool. It's gonna join us at the end of the broadcast today. So we'll have more from him. Guys have a great weekend. Joe Weisenthal markets editor at Bloomberg news. Catch him on Bloomberg TV at four PM. Dave Wilson stock that our Bloomberg is he's going to be back later on. All right. Let's do the Bloomberg markets by the day. It's one number. That tells us a lot today's number. It's one billion dollars Facebook approach financial firms, including visa and MasterCard as part of its plan to build a crypto currency based payment system. That's the Wall Street Journal social media company is looking for an investment of about one billion dollars. Carol. That's a lot of money the cryptocurrency initiative, which is apparently code named project. Libra is intended to support the value of the coin and protected against the volatility standard of crypto currency. It's not an easy market to invest in big big highs. But also big drops as well. There's some stories on the Bloomberg about digital currencies as we speak a lot more to come from downtown New York City here where peleton homecoming we're going to catch up with the CEO the man who created all of this. It's been an amazing road to get to here. We've got thousands of people descending on New York City this weekend because they love peleton. All right. Let's get a check unroll the national news headlines every Martin to carry we go in our ninety nine one. Newsroom in the nation's capital. Martin Carol Hello special counsel, Robert Mueller's report confirmed the US intelligence assessment that Russian operatives interfered in.

Bloomberg Bloomberg TV Joe Weisenthal Bloomberg news Martin Carol Dana New York City Wall Street Journal Facebook San Francisco MasterCard Robert Mueller markets editor US special counsel CEO one billion dollars
Growth in China is up

Marketplace with Kai Ryssdal

06:27 min | 2 years ago

Growth in China is up

"Yes, fine. It was by and large a political week in the news in this country. But once again, and for the record a this is a global economy and be one neglects economic news at one's peril. So with that five maybe six minutes now on the past five days in business and this economy Jane, smiling late of Bloomberg's soon to be in a couple of weeks the Federal Reserve reporter for the New York Times. The honorable is the markets editor at axios holiday, both ak-. Hey guy. So let me start with you. And the global economy as it were. I wanna talk about China the news we got this week that growth there was actually up a little bit. I actually saw the freeze green shoots about the Chinese economy. Could we perhaps be turning a corner on the much rumored, but never yet arrived global recession and slowdown? Ooh. Yeah. That's a that's a good question. A good way to frame that. I I we could be. But here's the thing. I I don't know. And China was always the big deal. Right. But look out at the world, and you've got gotta take a global view as you said Europe is still slowing Japan is still slowing there. They've said they're going to go ahead and do this raise to ten percent sales tax in the fourth quarter and people are expecting them to potentially vol into recession. You could have Germany and recession Italy in recession. The u k in recession, those are some big issues, and the thing with China is they're pushing the stimulus the whole idea was supposed to be pulling back stimulus unloving or delivering their economy and actually doing just the opposite. They were doing that for reason because they're on an unsustainable debt path. So yes, definitely this is good news. The the data we've seen at a China. Also, I think it is interesting that in a in a while, I think over the past six seven months avenue. Anyone questioned the date out of China as they were for years. Seems like investors have really just kind of forgotten all about that. All right, Gina smile at bringing back home because retail sales were up this week in the American economy, the Americans should shoot consumer is still buying could we perhaps be leading the way avoiding a global slowdown. Yeah. So I think it's an interesting question. And again, I think it's one that you've just gotta take with a grain of salt. If you look at a bar chart of retail sales over the last six months, they have just been gyrating wildly, you know, it's down it's up it's down again. And so I think it's really hard to take a really significant reading from retail sales. Just because we've seen a lot of payback from that really weak December number and we were kind of waiting for that. So it's hard to take too much of a not from that. I think the good news story on the US economy might be the labor market is still chugging along. You know, we saw some signs of slowdown that seems to have abated at this point. And so I think if you continue to see solid wage gains. If you continue to see really low unemployment an initial jobless claims and unemployment you could see a pretty positive consumer story. Dion this week. There were record low first time claims for unemployment and continuing claims for unemployment benefits were down as well. Yeah. And the four-week trend was at its lowest since I think it was November of nineteen sixty nine which I thought was really interesting wrote about that in the Axial markets newsletter. I actually was really interesting is there was a lot. I got a good deal of blowback from that. With people saying, hey, you know, this metric doesn't really isn't Representative of what's going on in the real economy. You also I put it a story earlier in the week about how the gig economy is distorting some of these numbers, you talk, the Dallas fed actually put out a paper saying that the gig economy has a lot of people who are working gigs or who are between jobs, but who still report themselves as employed, and that's actually sort of reducing not just the number of people who are reported unemployed, but the people who file for these kind of benefits, and that's pushing the the number down below where stoically has been. Yeah. Gina can we get away from the the headline numbers for minute here. And and I'm going to get all anecdotal on you inflation in this economy one. Again, not really a huge issue. According to the headline numbers out this week. But if you go out there gas, I mean, you know, here in California, we we run expensive on gas anyway, but I'm paying four zero nine for a gallon. Yes. Tell me about it. So so the consumers are feeling things that maybe you're not Gina shown up in the numbers. Yeah. I think it's an interesting point. I think one thing that is worth keeping in mind is that those sort of those fuel gauges food and fuel they are nosy. That's why the fed doesn't on of attention to them when it's thinking about monetary policy. But of course, consumers do feel them, which is what you can't ignore them entirely. But I think what what really matters is whether those pump prices you're seeing now whether those are sustained or whether those come down later in the year, and I think we'll have to wait and see how that plays out or I I want to do two things about the Federal Reserve number one. Robert Kaplan, the president of the Dallas fed. So this week, you know, what no matter what growth numbers do in this to me. I don't I don't think the Fed's going to change its stance on interest rates, which is as we know right now to sort of take it easy in and sit for a minute. And then I want to know what you say about that just in terms of the cost of money in this economy. Yeah. It makes sense though. Because I think the real change that was made was the fed really step back and said, you know, what inflation's not going up we don't need to keep raising rates. And if you can keep inflation at bay, which is one half of the feds mandate and unemployment isn't taking out which is the other half. Then there's no reason for them to move forward and make these moves. So I I completely understand what he was saying. All right, fair enough, gene. I'm going to turn to you and ask you the political question about the economy this week the markets and generally speaking everybody who's not a political reporter looked at the Muller report and kind of went. Yeah. You know, the economy strong. We're good would that's probably you at all. You know, I think that that's what a lot of communists were expecting going into the mall. A report I think people just kind of thought that we basically knew what we were going to know and markets just weren't anticipating a lot of news out of that. And I don't think that they saw anything that's prize them in a significant way was still making money. Right. The on. So so Soviet, right. So v and you look at what's the worst possible outcome, which is Trump gets impeach which is highly unlikely then you've got president Pence and he's good for the markets too. So I don't really know if there was a lot to take from this the bone at actually and Gina smiling soon to be of the New York Times. Thanks you too. Thank you have a nice weekend. On Wall Street today. Things are actually pretty quiet March closed for Good Friday.

FED Gina Smile China New York Times Reporter Dallas Markets Editor President Trump Axios Holiday Europe Bloomberg Jane United States Germany Dion
The new mediocre: the world economy

The Economist: The Intelligence

08:03 min | 2 years ago

The new mediocre: the world economy

"Hello. And welcome to the intelligence on a communist radio. I'm your host. Jason Palmer every weekday. We provide a fresh perspective on the events shaping your world. In the Suhel vast swath of land that stretches across the African continent. There's a worrying trend jihadists of several stripes growing in number and in influence, we tag along with an international training exercise aimed at preparing African forces contained a threat. And you might think that the public's interest in the world's changing climate has been on a steady rise you'd be wrong, a dive into data about online searches reveals that climate concern comes and goes. First up though. Over the past six months, a pessimistic picture of the world economy has been emerging speaking at the US chamber of commerce last week Christine Lagarde, the head of the International Monetary Fund issued a warning the global economy is at a delicate moment. Only two years ago. Seventy five percent of the global economy experienced an upswing. So it was a synchronized growth acceleration for this year. We expect not seventy five but seventy percent of the global economy to experience a slowdown in growth. Exactly the opposite of what we had. The IMF later today. We'll be publishing its forecast for the year. Simon Cox are emerging markets editor based in Hong Kong. We already know little bit about it from a speech Christine Lagarde gave she pointed out that they'll be cutting their forecast. They had expected back in January world economy to grow by about three and a half percent sheer. So it sounds like they're going to shave some off that forecast. However, she did emphasize the left is not expect a recession this year. So it's a slow down and one that should autumn out by about mid year in nephew. And why are we seeing this Loda? So the slowdowns quite broadly based the guard pointed out that a variety of countries have slowed down from last year. China has been trying to slow the growth of credit for some time. Now, there's also been of course, this trade will trade tensions between China in America have damaged sentiment. More broadly earlier in two thousand eighteen we saw the Federal Reserve raising interest rates which caused a of problems for variety of emerging economies and euro-zone to seems. Perennially weak takes very little seems to slow its momentum. So order these things happening together have added up to a slight gloomier outlook the me had props year ago, and is any one of those factors dominant in this lowdown. So the trade war has attracted most of the headlines. I think the feds raising interest rates and China's efforts to curb leverage, probably more important. Although it has to be said the trade war has inflicted greater damage on sentiment than I would have expected. It's not so much the practical concrete effect of the tariffs. It's more this notion that two of the world's biggest economists consi I and no longer working in concert to try and keep the economy going and with this downturn than in prospect, what can policymakers around the world due to to get ready to make his already taken some measures. And most importantly, the fed has signaled that it won't be raising interest rates again anytime soon, I think that pose an interest rates has been quite bawdy welcomed by financial markets. And I think it came just. In time a little bit too late. And also China has also turned attention away from curbing leverage towards shoring up growth, and in the past China's been quite effective in reviving demand when it decides to so those both measures that policymakers have already taken and then looking more broadly with always very much welcome Germany's splurging bit. Why would that be such a singularly helpful factor to mini vans, quite tight public finances? It's obviously the biggest economy in the zone surrounded by much weaker economies that would benefit greatly from the spillovers of higher German spending. So the one Konami that's really in a position to spend more refuses to and that leaves its neighbors who aren't really in a position to spend more having to do so to try and up to mind in their own conham is so euro-zone as a whole exports demand weakness to the rest of the world when it really should be pulling its weight. So you mentioned one of the big factors here is fed sort of pausing in its rate increases is their case for a cut. I think possibly one of the perennial worries about this recovery is the central banks have not yet been able to quote, unquote, normalize monetary policy that they haven't been able to raise interest rates to what historically would have been more normal levels that matters in particular if there's a downturn because impasse recessions central banks had to cut interest rates really quite severely in order to offset recessionary impulses. And they sent me don't have room to do that anymore. Now the best insurance policy against having to cut heavily is to cut a little early. And so there's perhaps a case for the fed to cut even if that results in a little bit too easy. The damage that would do is very little in comparison with the damage of cutting too late that is US might of heat a little bit might have a little bit above target inflation something that really would concern. Nobody very much at all. So there is perhaps a case for the fed to be preemptive. The only nuance is that if the fed now did that would be seen as a bit of a sign of panic. Because they seem to be while the set against doing that absolutely have to so in the the worry with growth forecast that look like this one will is that we're headed for kind of another global recession. How do you see things playing out this time give us give us cause for optimism? So there are few signs that quote has bottomed out actually undulated number from China wasn't too bad German industrial production was okay, the US labor market still looks reasonably robust, although earnings growth has been a bit disappointing. So we have a number of lax from the data just getting numbers for March. Now, the lag in the processes, right? So it'll of prepared this report using data that might now be several weeks old, and as Christina guide said in speech, economic weather is very unsettled. It's changeable, and so it's possible. That's hope that the slowdown has already finished and seeing the first signs of stabilization, perhaps even a modest uptick in growth. So as as you say things are unsettled if things are. Actually on the up, and perhaps we haven't you know, crunched the numbers yet for how much it's on the up what might threaten that other whole variety thinks that could still destabilise growth, we've never really been able to get back to a fully healthy economy that's growing at its full potential without a lot of help from monetary policy. So you can think of I don't know the disruption from Brexit would obviously be obvious danger signed seven Newell of trade tensions. It's remarkable. How Optimus dick snatcher markets are about to deal between China and Trump, and yet we've been hearing that as a deal imminent for quite long while now without it actually happening. So there are a number of risks years ago. Christine Lagarde actually coined this phrase, the new mediocre, it was her take on the more common phrase, the new normal and her point was that you global growth was not as often as it had been Patou still pretty disappointing by historical standards, looking back over ten or twenty years. And I think that's where we're at. You know, the good is never that. Good. Hopefully, the bad won't be awful. Really stuck in this new mediocre right somewhere between cautious optimism and get used to it. That's right. Simon. Thanks very much for your time. It's It's my. my pleasure.

China Christine Lagarde Federal Reserve International Monetary Fund Simon Cox United States Jason Palmer Suhel Us Chamber Of Commerce Konami Hong Kong Markets Editor America Germany Christina Guide
"markets editor" Discussed on 90.3 KAZU

90.3 KAZU

07:07 min | 2 years ago

"markets editor" Discussed on 90.3 KAZU

"To have you with us. Paul lenghty of economic news to kick around from big time jobs numbers today to the president's ongoing criticism of the fed and his shall we say idiosyncratic nominations to that body. Let's do it over with Linda Lopez from business insider and Dion rebellion markets editor at axios. Hi there. Hey. Let's start. I think before we dive into this fed situation. Let's start with the jobs numbers broadly. I guess more of the same especially in terms of wages Dion. I'm gonna start with you, food and housing still cost a lot. So at what point to these stuck wages really start to hurt the economy? That's a really good question because they have actually moving in the right direction. But now, they're kind of stuck in might be moving back down the thing about this jobs report today was didn't really tell us anything new about the economy. Everything was kind of on trend along the same trend that we've been going on really since the end of the recession in the beginning of the recovery in two thousand nine so you got back to one hundred ninety six thousand jobs added that's about along trend that we've seen really for the past nineteen years wage growth kind of moving back towards its trend. And we're really this is just kind of return to the normal that we've seen over the past ten years. So didn't really tell us anything new about the economy, except, you know, the new boss same as the old boss, right and Lynette our reporters say three point two percent is okay. As far as wage growth goes. But we'd need three point five percent. Two four for a sustained period for workers to gain back this ground and getting to the fed. It seems like that wouldn't be that likely if inflation hawks start saying it's time to raise interest. Rates that fair that's fair. But here's the thing. I'm one of those people who believes that the American worker hasn't really gotten a sufficient raised since the nineteen sixties. So when I look at these three point two numbers four percent numbers. It compares to, you know, compare. It does not compare to you know, the lack of ground that the American worker has has has not made. I mean. The American workers purchasing power has basically stayed steady for the last forty years. And this is why we've seen such massive inequality. So when I see a report like this, and we start quibbling over three point two percent. Four percent. I'm like, okay. I mean, fine. Right. But we can. It's not going to change when what is you know, an inherent structural problem with our economy right now. Well, then let's move onto the structure. It's not good. It's writ large. That's what it does. You know? She just she comes and jobs. I want one. Di me we keep calling. Yeah. So it's on us. Deanne broadly. Let's talk about the fed. You have these proposed nominations in Stephen Moore, and now Herman Cain. And I think what we should ask with all of this pressure in these kind of weird nominations is can the fed do its job. Yeah. No. Of course, the fed can do its job, and it is important to point out that these are just two nominations of. I think it's twelve board seats. You've also got the chair the vice chair you've had a number of fed regional presidents all of whom everyone on the fed currently very qualified including the previous people that President Trump has nominated. I really think though, it's important that we refrain this debate or the conversations going on about these nominations. Everyone's keeps everyone keeps saying Trump. Is nominating these people because he wants the fed to rollback interest rates. He wants them to cut rates hike, raise the president's even said that Trump doesn't understand how the fed works. He doesn't understand what the fed does doesn't understand monetary? He doesn't understand. He's nominating. These people because he wants more people like him on the board. It's not about not necessarily like him. But people who will do what he says in. Every instance, the president replaces the rule of law and nonpartisanship with the rule of himself. And he believes that Stephen Moore and Herman Cain will perpetuate this rule of himself on the fed board. Now is that true unclear? We're going to have to look at the minutes once they join, and we'll have to see if Republicans in the Senate are actually, you know, craven and foolish enough to vote these people in I mean, Stephen Moore himself has admitted that it's going to be a learning curve the man's not an economist. He's more of a talking to Dion point, though, it it is a it's a big deliberative body with some independent minds. Right. Like, you sound like you're saying that the board could withstand the pressure. We got about thirty seconds for. Yes. One could withstand the pressure. And again, these guys aren't going to put much pressure on because they don't know what they're doing. Now cleared more, right? Stephen Moore, his nuclear urban fed at least was on the fed before I think he understands the processes of the fed is not really eminently qualified, and I think Raphael Bostick must be just with his head in his hands. Like, it took fifty years to get a brother on the. Dead. And now they're going to put him on. But you know, again, these people aren't Trump's not nominees people because he wants interest rates lower. He's nominating these people because he wants more people like him who he feels excited about nominating. He doesn't understand what the fed does. And he's made that clear with his comments today. Linette Lopez from business insider and Dionne Ribaut and markets editor at axios. Thanks so much. Thank you have a great weekend. Now to prepaid debit cards, the increasingly popular plastic cards with MasterCard or visa logos. That let you shop anywhere with preloaded money. They're a growing part of this economy and the financial services industry, but they can be risky. There aren't any protections against theft or purchases that are defective or unauthorized charges. But this week the consumer financial protection bureau started requiring safeguards on prepaid cards that are the same as debit cards that are tied to Bank accounts. Marketplace's Erica barris has more on that employers. Use prepaid cards to pay their workers governments disburse benefits like unemployment people who use debit cards from banks have had protection against fraud and loss for forty years. Now says Nick Berk with the consumer finance project. People have pretty much the same rights to be protected and get their money back if somebody steals their prepaid card as they do when they use a credit card or a debit card consumers who report a lost or. Stolen, prepaid card within two days are only responsible for fifty dollars in losses. If they wait sixty days, it could cost them five hundred these new rules, come as prepaid cards have risen in popularity credit card industry. Analysts had Rosman says more than eight million households don't have Bank accounts. So there are a lot of people who are using prepaid cards as an alternative to the traditional banking system. Another reason for the uptick in prepaid cards. It's pretty cheap for employers the government and others to load the cards with money says David Robertson with Nielsen journal, most accords or Costa quarter to give somebody a plastic card with a magnetic stripe.

fed Stephen Moore president Trump Dion axios Herman Cain markets editor Linda Lopez Paul lenghty Nick Berk Deanne Lynette Erica barris Senate theft fraud
196,000 jobs added in latest report from the Fed

Marketplace with Kai Ryssdal

03:23 min | 2 years ago

196,000 jobs added in latest report from the Fed

"Paul lenghty of economic news to kick around from big time jobs numbers today to the president's ongoing criticism of the fed and his shall we say idiosyncratic nominations to that body. Let's do it over with Linda Lopez from business insider and Dion rebellion markets editor at axios. Hi there. Hey. Let's start. I think before we dive into this fed situation. Let's start with the jobs numbers broadly. I guess more of the same especially in terms of wages Dion. I'm gonna start with you, food and housing still cost a lot. So at what point to these stuck wages really start to hurt the economy? That's a really good question because they have actually moving in the right direction. But now, they're kind of stuck in might be moving back down the thing about this jobs report today was it didn't really tell us anything new about the economy. Everything was kind of on trend along the same trend that we've been going on really since the end of the recession in the beginning of the recovery in two thousand nine so you got back to one hundred ninety six thousand jobs added that's about along trend that we've seen really for the past nine ten years wage growth kind of moving back towards its trend. And we're really this is just kind of return to the normal that we've seen over the past ten years. So didn't really tell us anything new about the economy, except, you know, the new boss same as the old boss, right and Lynette our reporters say three point two percent is okay. As far as wage growth goes. But we'd need three point five percent. Two four for a sustained period for workers to gain back this ground and getting to the fed. It seems like that wouldn't be that likely if inflation hawks start saying it's time to raise interest. Rates that fair that's fair. But here's the thing. I'm one of those people who believes that the American worker hasn't really gotten a sufficient raised since the nineteen sixties. So when I look at these three point two numbers four percent numbers. It compares to, you know, compare. It does not compare to you know, the lack of ground that the American worker has has has not made. I mean, the American workers purchasing power has basically stayed steady for the last forty years. And this is why we've seen such massive inequality. So when I see a report like this, and we start quibbling over three point two percent. Four percent. I'm like, okay. I mean find right, but we can quote, it's not gonna change of when what is you know, an inherent structural problem with our economy right now. Well, then let's move onto the structure, and it's not good. It's writ large. That's what it does. You know? She just she comes and drops. I want one. I mean, we keep calling ya. So it's on us. Dionne broadly. Let's talk about the fed. You have these proposed nominations in Stephen Moore, and now Herman Cain. And I think what we should ask with all of this pressure. And these kind of weird nominations is can the fed do its job. Yeah. No. Of course, the fed can do its job, and it is important to point out that these are just two of nominations of. I think it's twelve board seats. You've also got the chair the vice chair you've got a number of fed regional presidents all of whom everyone on the fed currently very qualified including the previous people that President Trump has nominated.

FED President Trump Paul Lenghty Dion Linda Lopez Axios Markets Editor Vice Chair Lynette Stephen Moore Dionne Herman Cain Donald Trump Two Percent Nine Ten Years Four Percent Five Percent Forty Years
"markets editor" Discussed on KCRW

KCRW

05:26 min | 2 years ago

"markets editor" Discussed on KCRW

"To have you. With us poll. Lenghty of economic news to kick around from big time jobs numbers today to the president's ongoing criticism of the fed and his shall we say idiosyncratic nominations to that body. Let's over with Linda Lopez from business insider and Dion Ribaud in markets editor at axios. Hi there. Hey. Let's start. I think before we dive into this fed situation. Let's start with the jobs numbers broadly. I guess more of the same especially in terms of wages Dion. I'm gonna start with you, food and housing still cost a lot. So at what point to these stuck wages really start to hurt the economy? That's a really good question because they have actually moving in the right direction. But now, they're kind of stuck in might be moving back down the thing about this jobs report today was didn't really tell us anything new about the economy. Everything was kind of on trend along the same trend that we've been going on really since the end of the recession in the beginning of the recovery in two thousand nine so you got back to one hundred ninety six thousand jobs added that's about along trend that we've seen really for the past nine ten years wage growth kind of moving back towards its trend. And we're really this is just kind of return to the normal that we've seen over the past ten years. So didn't really tell us anything new about the economy, except, you know, the new boss seems the old boss, right and Lynette our reporters say three point two percent is okay. As far as wage growth goes. But we'd need three point five percent. Two four for a sustained period for workers to gain back this ground and getting to the fed. It seems like that wouldn't be that likely if inflation hawks start saying it's time to raise interest. Rates that fair that's fair. But here's the thing. I'm one of those people who believes that the American worker hasn't really gotten a sufficient raised since the nineteen sixties. So when I look at these three point two numbers four percent numbers. It compares to, you know, compare. It does not compare to the lack of ground that the American worker has has has not made. I mean. The American workers purchasing power has basically stayed steady for the last forty years. And this is why we've seen such massive inequality. So when I see a report like this, and we start quibbling over three point two percent. Four percent. I'm like, okay. I mean, fine. Right. But we can quote him. It's not gonna change of when what is you know, an inherent structural problem with our economy right now. Well, then let's move onto the structure. It's not good. It's writ large. That's what it does. You know? She just she comes jobs. I want. I mean, we keep calling. So it's on us. Broadly. Let's talk about the fed. You have these proposed nominations, Stephen Moore, and now Herman Cain. And I think what we should ask with all of this pressure. These kind of weird nominations is can the fed do its job. Yeah. No. Of course, the fed can do its job, and it is important to point out that these are just two of nominations of. I think it's twelve board seats. You've also got the chair the vice chair you've got a number of fed regional presidents all of whom everyone on the fed currently very qualified including the previous people that President Trump is nominated. I really think though, it's important that we refrain this debate or the conversations going on about these nominations. Everyone keeps everyone keeps saying Trump. Is nominating these people because he wants the fed to rollback interest rates. He wants to cut rates hike raise. The president's even said that Trump doesn't understand how the fed works doesn't understand what the fed does doesn't understand monetary policy. He doesn't understand. He's nominating. These people because he wants more people like him on the board. It's not about not necessarily. But people who will do what he says in. Every instance, the president replaces the rule of law and nonpartisanship with the rule of himself. And he believes that Stephen Moore and Herman Cain will perpetuate this rule of himself on the fed board. Now is that true unclear? We're going to have to look at the minutes once they join, and we'll have to see if Republicans in the Senate are actually, you know, craven and foolish enough to vote these people in I mean, even more himself has admitted that it's going to be a learning curve the man's not an economist. He's more of a talking to Dion point, though, it is a it's a big deliberative body with some independent minds. Right. Like, you sound like you're saying the board could withstand the pressure. We got about thirty seconds for. Yes. The board could withstand the pressure. And again, these guys aren't going to put much pressure on because they don't know what they're doing right. Stephen Moore has no clue urban fed. At least was on the feds before I think he understands the processes of the fed is not really imminently qualified, and I think Raffaelle Bostick must be with his head in his hands. Like, it took fifty years to get a brother on the. Head and now they're going to put him on. But you know, I again, these people aren't Trump's nominees people because he wants interest rates lower. He's nominating people because he wants more people like him who he feels excited about nominating. He doesn't understand what the fed does. And he's made that clear with his comments today. Linette Lopez from business insider and Dion row and markets editor at axios. Thanks so much..

fed President Trump Dion Ribaud Stephen Moore president axios markets editor Herman Cain Linda Lopez Lynette Linette Lopez Senate vice chair Raffaelle Bostick craven two percent nine ten years thirty seconds
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:35 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"Charlie. Thank you so much. You are listening to Bloomberg BusinessWeek one of the most read stories today. One of the most watched stocks of the day Carol, holy Moley. Holy schmolly bed, bath and beyond. It puts me in the mindset of the movie old school. Remember when will Farrell says come nice little Saturday plan that Bethany man, if we have time investors, not having a lot of time, basically. Yeah. Not one not two, but three activist funds highly going after this and they're saying, no, we don't want to just replace one or two board members. We want a clean slate everybody. Yeah. Maybe they're showing up with a lot of those coupons. Anyway, also gonna talk a little bit of blockchain got an author coming to join us. He's got a new book out. What I love about him is he's not a scientist necessarily. He's actually a guy who uses blockchain in his company us. I may finally understand what it is going to talk about the Wall Street decathlon. In the meantime, let's talk about the markets today. Little bit of a different tone kind of. I guess wasn't Weisenthal markets editor at Bloomberg news, co host of wedge mess. That's coming your way. At four PM Wall Street time on Bloomberg television. Dave Wilson is here with us. Dr at Bloomberg news, both of them in our Bloomberg interactive brokers studio, we are down near lows of the session on the equity markets, but we're still a hair higher about up about three tenths of a percent on the NASDAQ and the s&p the Dow up about two tenths of a percent. David anything interesting in terms of particulars internals with inside or within today's trading. A couple of interesting stories Carol me one is you know, you saw crude oil go back above sixty dollars a barrel in New York trading. So energy stocks have benefiting from that top performers among the eleven main industry groups in the S and P five hundred in on the other hand, you're seeing a health insurance. Take a hit, you know, the Justice department came out late yesterday in basically told an appeals court. We think the whole Affordable Care Act is unconstitutional. Not just the pieces, which they focus. In the past. And so I mean, you name a health insur it's down at this point. And so that's weighing on the S and P five hundred bit. Now, you also have carnival biggest drop in the index. They're cutting their numbers in essence for the current fiscal year because fuel prices and currencies have turned into an issue for the company as opposed to a benefit not surprising, giving what we've seen in the oil markets in particular. And how that flows through to the fuels that carnival peers you. I mean, you've got Norwegian cruise line Royal Caribbean falling as well book down about two and a half percent at the moment. So some smaller stories within a bigger market. It's kinda stumbling a bit after early gains here, Joe, what do you make of it? Is you talk to folks on the America's news? 'cause yesterday you said what's going on the market? You said everybody's talking about avenue. Yeah. What about today? I think some of the eco data we got this morning catching housing tension housing data once again, very weak number consumer confidence or the Conference Board number week. And one of the indicators that I always look at one of the sub indicators is. And I've said it here a lot consumer sentiment about the jobs the job market because ultimately, you know, so much flows from whether you believe you can find a job or whether you're confident your job, very big one month's deterioration on the biggest drops in a long time in terms of how consumers view the state of the labour market. You know, we have a week from Friday. We're going to get the, you know, the late at the March nonfarm payrolls report in I think that is going to be one of the most closely watched ones in a long time. Because of course, we got that pretty weak number for February that caught a lot of people by surprise with the r word recession so much lips these days. I think there's going to be an unusual elitist relative to recent history attention paid to that number. That's interesting though, that people are feeling less positive. Yeah. Right. Yeah. It is overall people still feel good. So did know consumers who say the job market is good. It's still far higher than the number. Save. It's bad. Well, you say. When you start to think about the housing data because what are the things that makes people more cautious about their whole lives is my house. If you can I get what I think I'm going to get you know, I had a chance to catch up with HUD secretary Ben Carson earlier on the politics show. And I posed the question like, are you worried about this? And he essentially said the market will figure itself. So that you know. How's it should be able to go into it up and down cycle without causing a crisis? Yes. Which is kind of like what we forget about. I do wonder about the political ramification are Tim Mckee who we love to have on Bloomberg economics economists. And he says, they're take consumer confidence. Our consumer sentiment numbers slipping in March. He says it's a clear sign economic activities poised to moderate this year. Some of the dip is likely response to smaller-than-expected income tax returns as well. As what we got from the fed. We've know we've heard a lot of like anecdotal stuff. So it'll be interesting when all that passed I do also under about that political ramifications. Ultimately when people are, you know, right? It's all about the money. That's in your pocket. Well, and there was an interesting stat to that point Dave Wilson about how people Mark their calendars essentially for their tax refund. That's the biggest windfall that people get every year. You know that they set set aside or look ahead, right? They count on it to pay down. Tuition or down some debt or by some Bruce, Springsteen tickets, whatever works by Bruce Springsteen tickets at the moment. But yeah, I gotta tell you. I was just looking at our markets live blog, and if you wanna consider it a barometer of what people are thinking about we've had five post today with recession in the headline. So it goes to show you a couple of them are broader as opposed to individual items. But nonetheless, it's out there. It's something that is at the very least becoming a lens through which people are looking what's going on economy and looking at what's happening in markets. Do all right. Dave Wilson stocks editor for Bloomberg. You'll be back with us a little later on with your chart inside of the Joe wasn't markets editor sending you off to television. The co host of what you missed coming up at four PM Wall Street time, and that is your business week agenda. Let's through the bite of the day. Let's do it one number. That tells us a lot today is number is five thirteen. Do you wanna guess or did you? Cheat already cheated already. Facebook says it's removed five hundred thirteen pages groups and accounts on Facebook and Instagram connected to Iran for impersonating, political groups and media organizations in an attempt to influence political thought in countries around the world. So the actress spending fifteen thousand dollars in Facebook ads doesn't seem like a lot and posted news stories and current events and amplified content from Iranian state media about topics including sanctions against Iran tensions between India and Pakistan and conflicts in Syria and Yemen, fifteen thousand dollars a lot of money, and it's not all shows the access you can get fry kind of a little and the and the things that may have been overlooked in all the headlines this weekend about the mullahs report is Russia did manipulate our you still have interference. And we haven't really done anything to stop that. And we have another election in twenty twenty just say all right for.

Dave Wilson Bloomberg markets editor Facebook Bloomberg BusinessWeek Carol Joe Bruce Springsteen Bloomberg news Bloomberg interactive brokers Iran Farrell Charlie. Conference Board New York
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:12 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"Scam. That he says forty seven minutes later, the southern district analysis his arrest. I've never seen star. In terms of the Muller stuff is surprising. You know? I think there might have been some expectation that would reduce a little bit of boost in terms of taking some of the uncertainty way. But I figured drives home a point that it's like this is all about a couple of things. It's a really simple market. It's about the fed. It's about growth, it's about inflation. And all these other stories that people looked at Halsey uncertainty trade cetera concerns about legal issues in the White House. It's never been important. Yeah. It's funny. We ask investors all the time. Sort of what's on your list of worries? I do feel like especially for trade, Gerald psych. Stop trying to make trade thing. I don't care as much about it as it's amazing our companies making money are they improving their margins. Ultimately, do people have jobs are people able to consumers who are so much the backbone of our economy, and our are they out there spending. I mean, it really comes down to that. Dave. Does it? What's interesting today as you see some positive signs if you look at the home, builder's, let's face it. They benefit from relatively low interest rates, and that's where we are increasingly going at the moment and some of the retailers. I mean, we're talking about the likes of Kohl's and Macy's footlocker doing relatively. Well. So you do have that kind of support for what's going on here on the other side of me. And you look at the chipmaker's you see Texas Instruments and analog devices Sanford Bernstein, getting increasingly nervous about the industry cut ratings on both those stocks the equipment from by their down more than two percent and the other chipmakers aren't doing well either. Cetera. Yeah. Two of your worst performance at the two. You just mentioned in the S P Micron Inci links both down about three point one percent. So certainly taken a hit there. Yeah. Absolutely. So it's back and forth. And what you get out of at least for the moment is not much in the way of overall direction. Like don't hate me. But I'm thinking until we get back into the season the earning cycle. I think we're kind of trying to figure out what's going on here. Calendar reminder that'd be like I can start talking about earning season walk in the house and Google customer gay season. Earning exactly. Now, there are those that argue that we're in earnings preseason now because a lot of the record keeping speak. They count reports that come out in March as part of the April and onward reporting. So you have that going on? But what's going to be key here? Let's face. It you run through the numbers. You see that analysts was looking for a decline in profit folk first quarter from the S and P five hundred who knows maybe there's going to be another one in the second quarter. You get an earnings recession. So you have to worry about how far down is down in back is back in the second half lot to look forward to the other thing we can look forward to this week as we've got a ton of fed speakers Charlie Evans, spoke to colleagues over in London. Oh, really? Saudi from Evan. Yeah. And so I do wonder what everybody else is going to say. Yeah. No with last week's decision sort of lots of people. Now a pioneering on where they see things going, and it is kind of incredible the speed with which a possible rate cut has come onto the horizon senior ele, I think about when he was it around the holidays or something that he came on. And he said somebody on one of his trading desks are one of his buddies talked about a rate cut. And we everybody looked at him like five totally crazy. But given the speed of the reversal the ongoing flattening the curve, the weakness from abroad, I look if the US economy doesn't deteriorate from here. It's still hard for me to imagine. Yeah. But if I were to see further signs of weakness and the jobs report that'll be a week from Friday. That's week. Again. I think it could actually become a thing. Chris. Then you have the w I r p functioned the predictor based on fed funds. Futures. You got about seventy five percent chance for Ray cut by December. That's crazy crazy. But it also is a reminder that things can change very quickly. If you didn't know where we were in December. All right. Joe weisenthal? Thank you so much markets editor at Bloomberg news. Check them out at four PM Wall Street time on Bloomberg TV Dave Wilson are stocks that at Bloomberg news. He'll be back a little bit later on. All right. Let's do the Bloomberg markets by today. It's one number that tells us let today's number Carol. It's three point one billion yet. Uber is set to announce a three point one billion dollar deal to acquire Kareem networks. This was one of the things I was watching this morning on TV. It will pay one point four billion in cash one point seven billion convertible notes for its Dubai-based rival, according to those in the know, the move comes ahead of Uber's expected April IPO, which may be one of the new York Stock Exchange biggest ever listings, which interesting about this. And we read about this in the magazine that Uber has tended to get rid of its kind of holdings overseas and not necessarily buy into something. So this is a little bit of a strategic different strategic move for Uber. You're they are in Kareem. All right. Let's get a check on world and national headlines that we'll a Bob moon in the newsroom hib Jason Carroll. Thank you is really forces. Struck targets.

Uber Bloomberg Dave Wilson Bloomberg news Muller Halsey White House Jason Carroll Gerald psych US Macy Kohl Google Sanford Bernstein Carol Charlie Evans markets editor
"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:51 min | 2 years ago

"markets editor" Discussed on Bloomberg Radio New York

"You so much. You are listening to Bloomberg BusinessWeek Carol Massar along with Jason Kelly said we're gonna talk about that big deal whilst they didn't get into an interesting story in the private equity space about a new venture to issue collateralized loan obligations. This folks is among our most read stories on the Bloomberg on this Monday. Also, March madness it's here. So we'll talk with a math professor at Davidson college. He's got an NC double a BRAC Ptolemy class. So we'll talk to him about that first though, let's get the BusinessWeek agenda. We've got Joe Weisenthal markets editor at Bloomberg news, co host of wedge amiss coming your way at four PM Wall Street time on Bloomberg TV he's in our Bloomberg interactive brokers studio along with Dave Wilson are stocks editor at Bloomberg news. Sedav set the tone. I feel like it's tick tock we're just kind of waiting for that fed meeting. A lowest some other big macro stories this week. Well, there is that. But in the absence of those events, I mean, you still seeing stocks build on what they did last week. So, you know, it's funny if you look at the last two weeks, or so you can argue it's sort of a smaller version of what we saw the last four months. I mean think about December stocks fall out of bed and then right after Christmas, then you get the recovery and we've made back the losses, and then some now had that hesitation week before last new five days down in a row for the S and P five hundred last week four or five up best week of the year. And we're getting more of a today. So you're almost getting to the point where the records that we set last September. Or so that the next hurdle for stocks. And you know, obviously, there's a lot of the movement that would have to happen between here and there, but there are also catalysts. The fed policy meeting or whatever that could lead to that happening. I gotta say Joe what I love is everybody just saying, hey this bull market. It's really long for it to come to an end. And we keep hearing that over and over again. And here we are each weird because you all of one day you'll hear someone's like, oh, we're in the ninth inning or specific. And then the next thing you hear the same person. Take markets don't die of old age. She is just repeat these phrases over and over again. But I do think that people say bull markets don't die of old age. They don't really internalize it. And because it's been going on for ten years. They think the next shoe must be about to drop or something must be on the corner. Just because it's been so long, and I do think that the missing piece to that line of thinking. So we have little mini bursts bust Q four last year was one thousand eleven we saw one beginning of two thousand sixteen we saw in twenty fifteen so it's not like we don't have sharp downturn hasn't been just a straight line out. You do get these periods. Where sort of the imbalances pop, and it sort of resets itself makes me think if the market now is a different type of market where we kind of have these things build up they burst quickly, and then we kind of resume our upper trend. That's what it feels like it. Also, I think the fed very specifically would like to pop many bubbles rather than let it big bubble emerge. I just have this portrait of like J up in a mini bubble here. And there. Got it. Exactly. What's interesting to me with Mark Lazarie a little bit earlier about an hour and a half ago and one of the things he was saying from because he's a distressed investor. And he said, you know, we don't need necessarily a big correction or a recession. But we would like to see is just like, you know, growth slowing down a little bit some idiosyncrasies that we can take advantage of it in the market. So everything not falling apart. Right. But opportunities presenting themselves continue to see Dave. We do you. The question now is going to have another opportunity come out of what's going on with earnings because let's face it. You know, we've seen this year. Stocks move up and earnings estimates come down and again now have analysts looking for a first quarter decline, an S and P five hundred earnings. So what happens from that? Do you get to quarters it gives you an earnings recession at least knew some people describe it. You know, the Dan get the recovery later in the year. And how does that play out? I mean, these are all elements that may set us up for another move, quadruple witching. We got on Friday does that. I don't know what happens after that. Do we ever see any kind of specific movement or historically thing I've seen in that regard? Can't remember the strategist off hand is that the week after tends to be not so great. But here we are looking at an S and P five hundred this higher. It's been higher for most of the day. So we'll see if that track record has any bearing on where we are. Now. I love it Lucar. Why did you see this story about eight lows? It's a flow rider market structure, Jeffries, chief market strategist, David service is apparently going back to that hit. There's a track a chorus where he says low eight consecutive times. Anyway, he gets into this thing. And he explains why the US markets are heading even higher. This to me sounds a little tight. Controversy with the story about how many people would get that reference. Yeah. I don't think many people read to get any Carol would automatically now writer I mean fan, but yeah, that's. But I just feel like, you know, everybody's kind of trying to explain this environment. Kind of where we are. What about what we get from the fed come Wednesday? Is there anything we get a new? I call it. The scatter platter. Interesting that we get a new dot plot. There will be a new job. Pretty interesting. I have this thing. The scatter platter. Scatter platter better. Thank you should be interesting because everybody expects, you know, pretty big downshift, but it's much more down. That's the important thing. There's been a massive repricing of expectation since the last dodge, and is the is the across the board is the FOMC really all going to drop its dodgers aggressively as the market has that does raise. The question is like maybe there will be some hawker surprise on the out there like, yeah. Like, we're patient, but we're not done hiking. Yeah. Could be a message in could give the market a little bit of rude surprise entirely possible. I mean, considering you know, you look a few months out, and you see sort of built in projections that we're going to get rate cuts. So who knows? Dave wilson. Went out to people because we are on radio. The Dave Wilson is wearing a fortune cookie. Tie with the bunch of fortunes all over it. Maybe you'll read some of those later on the show 'cause you'll be back with us for your chart inside today. Joe Weisenthal sending you off to do. Some the co host of what minutes coming up at four PM Wall Street time wanted to debate. I read just one of them had I guess we'll get to it later. Let's get to the Bloomberg markets part of the day one number that tells us a lot today's number is two point one billion dollars lift seeking to raise as much as two point one billion dollars in its initial public offering value the firm at up to eighteen point five billion dollars number two US ride hailing giant behind Uber. Offering thirty point eight million shares at sixty two dollars to sixty eight dollars each. That's according to a regulatory filing today, and it would be at this targeted range would be the biggest from tech upstarts in snap. Went public two years ago, the largest in the US so far this year after the partial government shutdown put a damper on first quarter listings, we talked about that. Right. That was one of the effects of it with the government shutdown people couldn't get there. Their listings in and we're gonna have much more on lift coming up in just a few minutes. We're gonna catch up at the newcomer like I know so much about that in Denmark. It was that far fun doing sports. Oh my God. It was the best to just say when they pulled together all those people like you're in the room. And you're like, oh my God. There's so. All right. Let's get a check on world and national news headlines every Bob.

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"markets editor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:33 min | 3 years ago

"markets editor" Discussed on Bloomberg Radio New York

"Let's bring Joe Weisenthal markets editor at Bloomberg Wilson stocks that are at Bloomberg news were squeezed guys. So just quickly Joe. What's caught your attention in the markets today? Very similar to Monday and Tuesday with the lack of action for the main indices, some interesting stock moves, obviously video games getting clobbered snap bouncing nicely. But overall, this is some quiet going on the volatility front and just a little bit lower. Dave Wilson, right? Does video game makers front and center Electronic Arts results. Disappointing that stocks down thirteen percent. Take two interactive there. Alec ones. Oh, good. They're down even more fourteen and a half percent activision blizzard where they. A ten percent. Plus declines, well, also advertisers agencies. You got the numbers out of France's Publicis that didn't go over. So well, so INTERPOL economic com are also weighing on the S and P five hundred Dave Wilson, stocks editor for Bloomberg. He'll be back with us a little bit later on Joe Weisenthal markets editor heading off to TV. What you missed coming up at four PM. Thank you so much guys for the short thoughts. All right. Let's get a check on the national news headlines for that were over to Martin Takara. He's our Bloomberg ninety nine one studio in the nation's capital. Hi martin. Hello. Carol won't Virginia is now awash in political scandal as another top democratic officeholder emits. He once wore black face in college. It's Virginia attorney general, Mark herring. Just last week called on governor. Ralph Northam to resign after racist photo was discovered on his medical school yearbook. Page Virginia Senator Mark Warner. A democrat was asked about the cascading revelations.

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"markets editor" Discussed on WAFS Biz 1190

WAFS Biz 1190

03:00 min | 3 years ago

"markets editor" Discussed on WAFS Biz 1190

"Business. Cast. Let's get you a quick check of the latest business flash headlines again in cross back out to Debra Debra. The growth engine of the world's auto industry has gone into reverse as China recorded the first annual fall and car sales in more than two decades delivery spell last year by six percent, just under twenty three million. But the trade war the slowing domestic economy and slumping starts putting the brakes on buying automakers. Stocks rose Wednesday after Beijing indicated measures to revive sales. Doc. Banks words have deepened with a lawsuit in the us from a pension fund that claims it lost money on the lenders ADR's. The suit says the fun wants to represent all buyers of eighty ours. From January twenty fourteen to Tober last year. It's the first case of its kind against us, which is being investigated in several countries for allegations of massive money laundering through its Estonian branch. China was one of the most prominent American business leaders to help smooth relations with the US. They Jing is asking tesla boss, Elon Musk to use the company's venture in Shanghai to warm frosty. Cross Pacific ties Premier Li chance as he hopes to tesla will win a firm foothold in China's expanding electric car market and play a lead role in promoting closer relations between Beijing and Washington. And that's your Bloomberg business flash. Debra. Thank you very much. Not investors who shunned risks in two thousand eighteen drew a cl- close are pushing the door open again with a number of market indicators signaling a return to risk on sentiment. Robert brand is our emerging markets editor he joins us now from Cape Town to discuss the implications of developing nation as to see this morning, emerging market stocks and currencies. I mean they've had a cracking start to the year. What does it mean for investors? You're seeing money flow into the apps is that a good indicator that the benchmark what does it say to you? We've seen a bit of a softening in apparent softening of the Federal Reserve policy stones we've seen some easing trade tensions between the US and China. And so the environment is slightly will be nine for risk as broadly, but major markets in particular as beginning to three nineteen the charter craft shows, you the CitiGroup risk vision index illustrates why risks intimately so importantly, major market s and that crop which is the emerging markets stock index to indices the mirror image of each other. You can see the risk aversion index dropping significantly in the first couple of weeks of this year and that coincided with the latest reading intimate market stocks. So yes, it does seem that base is becoming a little bit more comfortable taking on.

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Bloomberg, China and Ben Clarke discussed on Bloomberg Daybreak: Europe

Bloomberg Daybreak: Europe

00:19 sec | 3 years ago

Bloomberg, China and Ben Clarke discussed on Bloomberg Daybreak: Europe

"Of course with, the copper dropping below the six thousand per ton Mark we're seeing that copper prices rising this morning. By about one and, one, third of one percent pairing what was a four percent lost four this. Metal oil prices also on the front foot with WTI at sixty five dollars and fifteen cents

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Turkey's Markets Plunge Into the Unknown After U.S. Sanctions

Bloomberg Markets

08:45 min | 3 years ago

Turkey's Markets Plunge Into the Unknown After U.S. Sanctions

"It filed for bankruptcy protection from its creditors and Turkish markets plunging today deeper into the. Wild on president at. Sanctions imposed by the United States, its NATO ally of added to, the cross currents buffeting investors they of already, been despairing policymakers failure to contain inflation, and stem the slide in the lira under. Pressure from president one to bolster growth recapping. US equities, higher across the board with the s&p up. Fourteen of five tenths of one percent I'm Charlie Pellett and that is. A Bloomberg business flash Thank you very much Charlie Pellett art it's, time to bring in, Joe Weisenthal our markets editor for Bloomberg news, also co host of what you miss yes. Every weekday every trading, day three. Thirty PM Wall Street time, only on Bloomberg television and you can follow Joe on Twitter at the stalwart also joining us in studios Dave Wilson Bloomberg stocks editor and you can follow Dave on Twitter at the one Dave all, right Joe Weisenthal post Federal Reserve meeting no change in interest. Rates for the United States but a change of interest rates for. The United Kingdom from the Bank of England is, that relevant to what, you're, looking at today I mean the thing is about the Bank of England is that it really. Only affects the, UK when we talk about central banks Having an influence on global market is usually the via we and the b.. O. j. and the fed, but I still think it's interesting that the. Bank of England hiked not. Because it's gonna, have any ripple effects outside of outside. Of the market there but because for. Whatever reason central bankers seemed to really like hiking rates and the proof. Of, that is that it's hard to imagine that the UK's risk of overheating the economy decelerating they're facing a potentially big shock and they still went ahead with it anyway. But why, did they do it they do it because they were concerned about inflationary, pressures. Because of, the devaluation of the pound maybe it's very compelling there's like a little bit of, inflation but it's already trending down there was some point there was some talk before. That they needed to hike because they didn't hike? Some other, time they were expected to hike and now they need to show some credibility I don't really get that so you know I think central banker. Just like to hike they can? Okay we can pass on that I guess all right I really believe I've every let's bring. The one Dave in. Here David Wilson stocks editor for Bloomberg, news has the hike had. Any impact on the. Stock markets here in the states you wanna talk about what's going on in stocks look at. Across the pie you're looking, at apple and tesla right mean apple becoming. The first US could apple. And tesla again Yesterday was Day NASDAQ is up one and a. Quarter percent the NASDAQ is up more than ninety six, points? Today right and apple is read the forefront. Of that this is the first US company to cross a trillion dollars in. Market value and when you look at the way that the stock has, moved up it doesn't look like it's going to be a one, day wonder which is what. You saw November two thousand seven when petrochina's started trading in Shanghai and got above the trillion dollars four day while apple is the largest stock in, the? NASDAQ right, I mean it accounts for something like eight and a half percent of the total. NASDAQ waiting so when apple moves the NASDAQ's gonna, move well. That's true a bear. In mind you go back and look at how this stock. Has done it is been, up all but two years since two thousand three I mean it's not something. That just sort of happened all at once and you can argue whether, the reaction to the earnings that came out earlier this week me, justifies the latest move in. That said there were definitely some pluses in the numbers and we know that apple has a history of introducing models in September which is the last, month? Of their, fiscal year so that's something to look forward to and when you put it all. Together this history making day not only for apple, but also. For the US market. And you mentioned tesla certainly the story there is very different. This is a company that's, never made money a company that day Oh no it's not. I mean even Amazon, was in that situation once upon a. Time but taste certainly make a whole lot of money these days Years, later I mean you know you had to wait for it right yeah the point is though they've never made a profit they'd been using up cash, and you know this story is they didn't use up as. Much cast last quarter is analysts were looking for only seven hundred and forty million dollars and that. Was enough to send Tesla's shares on a roll so that's sort of where that company is. And musk is starting to sound more like a CEO not like he did three months ago when he was berating analysts on his quarterly conference call so you got. Tesla up fourteen and a half percent at the moment it it, does kind of show, you that, it, doesn't, take much. Sometimes to, get investors excited and when you get sort of a, few points to focus on you see the results Joe is Is apple. The best stock ever and his tesla are we being old fashioned in saying that test is. Gonna make money no I don't think we're being I mean I don't know what the best ever is I think there probably are stocks that have had better returns. In shorter periods of time Netflix comes to mind if we're just, thinking about the century, so far You know Apple's one trillion is a really high number Breathtaking story as for tesla look I think what got investors excited yesterday was partly the indication and the promise of positive, cash flow going forward and prophets that big said a they've had predictions in the past about this stuff that I think disappointed. Investors in the end and be they gotta, hit it and so I think that sort. Of shows you know. There is a limit to it quick question for you Joe Weisenthal you're going to. Buy any new apple, product that comes out in September you're on your phone you probably will because. I, think I'll be up for. A, new phone, at yeah you got an apple now yeah Yeah. Yeah No I have like the seven. Or, whatever no, Dave Wilson. Just curious I also had. The seven I was thinking about buying one, last year. Skipped it I'll think a whole lot hard harder about buying one this year Bob every I'm not even going. As, pigeons yeah I figured you it's tried. And true. My, friend, yeah But. It's Feed bill Rooftops still cheaper than I guess. It is thanks very much Joe Weisenthal co host of what Jim is check. It out, Bloomberg television three thirty PM Wall. Street time and, of course Dave Wilson Bloomberg stocks columnist David e dwilson Bloomberg. Dot net sign up for his daily free. Email newsletter now let's go to. Our ninety nine one studios in Washington DC where Martin dicara has world the, national headlines Martin thanks him happening. Right now top White House officials are describing plans to safeguard the midterm elections from. Foreign interference the administration's been criticized for not. Doing more stay tuned to Bloomberg radio for more on this. Developing story the, massive wildfire northern California grew overnight fueled, by wind the blaze in and around the city of reading now covers two hundred. Square miles Cal. Fire director Ken Pimlot says an army. Of firefighters thirteen thousand strong is working to contain it and other blazes across the state over twenty seven thousand Firefighters on the fire lines throughout the western United States so almost half of. Those are right here in California wildfires are also scorching hundreds of square miles. In Oregon, more than eleven hundred people likely. Died after hurricane, Maria hit Puerto Rico far more than the official death count. Of sixty four Penn State university study is. The second such review to make. Clear President Trump initially underestimated the tragedy when he compared it favorably to the, aftermath of Hurricane Katrina in two. Thousand five this new report suggests nearly seven hundred of the deaths occurred during two. Months when much of Puerto Rico had no. Electricity Republican hopes for a quick confirmation of supreme court nominee. Brett Cavanaugh might, be over the national archive says won't, be able to complete its review of nearly a million documents regarding Kavanagh's time in. The.

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Jaguar Land Rover says Brexit risks UK plant closures

Biz 1190 Overnight featuring Bloomberg Radio

03:09 min | 3 years ago

Jaguar Land Rover says Brexit risks UK plant closures

"Of the latest business flash headlines and cross back out to debra debra you said airbus tom enders says he's encouraged that more american companies are raising concerns about white house trade policy at he expects them to have an impact anders said he doesn't see major fallout yet remains concerned about esscalation retaliatory measures britain's biggest carmaker is warning that a brexit exit brexit without quote fresh less access to the european union would jeopardize more than one hundred billion dollars of investment over the next five years jaguar land rover says extra costs and delays in the supply chain outside the uk would also cut profit by one and a half billion a year the fan says jail our would then have to drastically adjust spending nissan are said to have given themselves two years to decide on a possible merger or an alternative way of enhancing their relationship sources say the to want an agreement before carlos gone steps down in two thousand twenty two the options include setting up a holding company and putting renault nissan under that umbrella as well as merging the two companies as a single stock and that's your bloomberg business flash debra thank you very much for that now the federal reserve is normalizing monetary policy financial markets especially emerging markets are far from becoming normal with some unusual correlations taking hold but in emerging markets editor sweeney civil and joins us from our london studio good to see this morning i mean i look at the free trade war jitters coppers under pressure armour's under pressure the complex is really beginning to be pushed and pulled in a whole variety of directions what's a subplot what's going on yes the strategies are did i being their cues from obviously the dollar and the us treasury yields an until two months ago the world of portfolio management assumed a linear relationship with treasury between treasury yields and the us dollar but what's happening right now as you see there is that is a negative relationship between us treasury yields and the dollar they are breaking away from each other and that's a surprise that's happening after a long time and that's a pending all strategies and now you see emerging market currencies are positively correlated with tissue use and this is the ten year treasury yield but you can see this in two year treasury yields as well so what's really happening here is treasury yields are not influencing imaging market anymore because the dollar is and the dollar is rising and the us have failed to hold about three percent so it's all about the mighty dollar now and all the correlations have gone awry and portfolio leo strategies are changing and the quickly changing to suit the dollar moves rather than the treasury moves what i try and think of sacred correlations i think.

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