tv Bloomberg Markets The Trump Economy Bloomberg July 24, 2017 1:00pm-2:00pm EDT
he was on capitol hill talking to the senate select committee on intelligence in a closed session. we will bring you his comments from the white house live. democrats and the party members starting a chart to power and what they call a better deal. senate republicans plan a procedural vote to consider health care legislation again. ♪ david: as we await comments from jared kushner, who is expected to address reporters outside the white house, let's get the latest on his appearance before a summit select committee. us who is on joins capitol hill today and kevin whitelock covers congressional coverage from our beer in washington. -- bureau in washington.
11 pages of prepared statements in his testimony delivered today. what it weaker about -- did we hear about today? what new do we learn from the statement? kevin c.: we learned from the 11 page statement that there were four previously undisclosed meetings with russian officials that he has since now this over the weekend on friday, he has added to the financial disclosure forms that he has put forth to his additional forms that he needs in order to get that national security clearance. he just walked out of the senate intelligence committee hearing room where i just was. he seemed upbeat. he was smiling and waving to reporters. at one point, he was interjected by a protester. he just kept moving. we are awaiting comment from jared kushner's, the president's son-in-law, at the white house where he will speak at what i'm told is 1:15 p.m. this afternoon. there pushing back in pushing back hard.
the president tweeting earlier today that he is pressuring what he described as his "beleaguered attorney general" jeff sessions for not investigating hillary clinton. david: when he read from those prepared remarks. nor there collude anyone else in the campaign collude with any foreign government. i did not have improper contact. i do not rely on russian funds to finance my business activities in the private sector." let me ask you about one meeting that has gotten scrutiny and that was one arranged by the president's son. jared kushner was in attendance at this meeting. this is something he addressed in his prepared remarks today. kevin w.: that is right. this is obviously a meeting that has been a huge focus. it has the ever widening cast of characters here. he is certainly saying that i was bored and trying to find a way out of this meeting and did not pay attention to what was going on. there's going to be a lot more questions that both senat democrats and republicans will have for him. he is expected to come and speak to various other forums including publicly.
we have some spectacles ahead of us on this one and this is certainly not the final word at this point. david: let me follow up on that with you. what are recalling what happened today on capitol hill? was it a hearing or an interview? kevin w.: the intelligence panel has been very quiet about what this is, but kushner's lawyers and others have used the word interview rather than hearing. it is not clear that many senators were there. it's largely a meeting of the staff of the intelligence panel. this is sort of the beginning of the process. the house intelligence panels interested in speaking with them. that could happen tomorrow in some sort of closed for fashion. the senate judiciary panel wants to speak with other people that were at that same meeting. we have lots of different moving parts here, all of which will be playing out over the course of this week and possibly the next few weeks. congress takes a break in august. some of this might take a brief
pause until september depending on how this all plays out. david: kevin cirilli, we're looking at a picture of the portico outside the white house. there's often a series of white with a singlenes and one of the white house on the podium. speak on the role that jared kushner plays in the in ministration. this is a big deal just in that light of hearing him speak. kevin c.: jared kushner is someone very much trusted by the president. he is married to a vodka trump -- ivanka trump and is very much in the inner circle. he's a gatekeeper of sorts in terms of the business community as well, helping to do outreach efforts for various businesses both in wall street as well as silicon valley. he is someone who has been at the forefront of working on middle east peace talks. he has received some criticism. we should note that all the unrest happening right now in israel that the president has
deployed some of his ambassadors to israel this morning as was over the weekend to deal with that unrest. jared kushner remains here in washington but has been up-to-date reportedly on those developments. in terms of just what exactly the customer camp is trying to do here is try to suggest that not only did they not disclose in regards to russia contacts, but also other context in the campaign and that testimony. in that 11 page statement, he writes that he received thousands of phone calls from various different international folks as well as the mystic folks, including from u.s. allies. recommend them not just russia. even republicans who have defended this administration are concerned about the apparatus surrounding the trump world, and in particular about how russia was able to penetrate inside the campaign if at all they were.
we should note that no conclusions from any of the investigations have been made public, but this would suggest from these meetings will from the intelligence community as well as the communitie committet customer is meeting tomorrow that this investigation has entered a new phase. let mekevin whitelock, ask you about the president firing off a tweet referring to the ranking member of the house intelligence committee. how has that rhetoric changed from the white house? kevin w.: obviously the president sets the tone and we are told is our official statements. i guess you could call that an official white house position. overall the white house has tried to suggest that this is all about nothing. we know that the president is deeply upset about the continued this.on a lot of people are frustrated that this is overshadowing everything else they are trying to do. it is not going anywhere and it's not just democrats anymore.
you have senate republicans who are starting to take this a bit more seriously. it's interesting. richard burr chairs the senate intelligence panel. he did not visit the white house last week even when all other republican senator intended. -- in town did. the reason was he is heading the russian probe and does not want to be in the compromising position. we have seen chuck grassley start to ramp up his probe, including threatening subpoenas against the president's son. you have got a very different tone from both sides here. obviously democrats are very dug in. a lot of democrats are very happy to go up to telephones and talk to reporters about their concerns about the potential russia connections. you are seeing some republicans, particular on the senate side, setting that there are some things here that need to be answered one way or another.
we will be watching this for closely. david: a very busy congressional calendar. we have another hearing or meeting scheduled with paul manafort and donald trump's son. next to kevin cirilli and kevin went left. -- thanks to kevin cirilli and kevin went left. taylor riggs is here with the latest. little bit ofe a a mix of a mix where we are lower with the nasdaq and s&p, but we are also low for the sessions. talking, the nasdaq is looking like a record high. andontinues to push higher be the outlier from the dow and s&p that are heading lower today. also somewhat moving is earning season. i'm going to take a look at halliburton and energy and tie these two together. as we take alert earnings coming out, they are going to be more disciplined when they come to moving and fracking out onto the oil fields. they are tapping the brakes on
drilling as oil continues to hover near that $50 mark. that is pushing halliburton lower by 3.8% here. i also want to tie in oil. when we woke up this morning and came to the office, we saw that meeting in st. petersburg between opec and on opec members talking about oil and looking at that agreement to cut oil production. #btv terminal here at g 7831, it ties together the u.s. and opec and what is going on. you have the u.s. and white with the recounts surging up to what is almost a high and two years right before oil fell from $100 a barrel. in blue, output from opec. it is down quite a lot after they made that agreement to cut oil production. climbing that just a little bit this summer. a lot of concern still coming out of that meeting this morning on whether they can maintain those production cuts. finally to recap the asset classes for you, we will take a look at the 10 year yield and the dollar.
those are heading higher. as yields go up, generally the banking sectors to better. more yields and more spread and potentially more profit. the yields going higher here and boosting some of those mid-regional banks. david: thank you very much. taylor riggs with a market update. democrats are about to unveil a new strategy called a better deal. there outside of washington, d.c. what to party leaders want to do differently in the 2018 campaigns? we are waiting comments from jared kushner. he is scheduled to speak outside the white house after meeting with the senate intelligence committee earlier today. we will carry those remarks live. this is bloomberg. ♪
david: this is "bloomberg markets: the trump economy." i'm david gura. we are awaiting comments from jared kushner, president trump's son-in-law and senior adviser. he spent the morning at the senate office building. to senate republicans and democrats on that. lets you were jared kushner has to say. -- let's hear what jared kushner has to say. mr. kushner: my name is to kushner. -- jared kushner. i'm senior adviser to doesn't donald j. trump. when my father-in-law decided to campaign, i served the best i could because i believed in him and his ability to improve the lives of all americans. and now serving the president and the people of the united states has been the honor and privilege of a lifetime.
i'm so grateful for the opportunity to work on important matters such as middle east reinvigorating america's in a bit of spirit could -- innovative spirit. every day i come to work with enthusiasm and excitement for what can be. i've not sought the spotlight. first in business and out in public service, i have always focused on setting and achieving goals and i've left it to others to work on media and public perception. since the first questions were raised in march, i have been consistent and say that i was eager to share any information i have with the investigating bodies and i've done so today. the record and documents i have voluntarily provided will show that all my actions were proper and occurred in the normal course of events of a very unique campaign. let me be very clear.
i did not collude with russia nor do i know of anyone else in the campaign who did so. i had no improper contacts. i have not relied on russian funds for my businesses. and i have been fully transparent in providing all requested information. donald trump had a better message and ran a smarter campaign, and that is why he won. suggesting otherwise ridicules those who voted for him. it is an honor to work with president trump and his administration as we take on the challenges that he was elected to face. creating jobs for american ,eople, keeping america safe and eliminating barriers to achieving the american dream. thank you very much. i look forward to taking
questions from the house committee tomorrow. thank you. david: jared kushner, the president senior adviser and son-in-law, speaking to reporters outside the white house on the north portico. it's on the heels of an interview that he gave to the senate select committee on intelligence earlier this morning at the heart senate office building. kevin cirilli joins me once again. lock.es kevin white -- let ask you to refer me ask you to refer to what you heard. he is a figure whose importance we know, but we do not know a lot about him. what it you make of the statement he delivered? kevin c.: jared kushner dug in. from that he did not collude with russia nor any of its officials. he also dug in and made a pitch to donald trump supporters, saying that any suggestion that
there was collusion between the russians and the trump campaign suggests that it is an insult to president trump's supporters and those who voted for him. he said he was proud of the message of the trump campaign. all that said, he reiterated that he will be taking questions from the house intelligence committee tomorrow. it is unclear though likely that it will be behind closed doors as it was today. this was an effort on behalf of the administration to move forward to get beyond this. as a result, there's no question that the questions surrounding all these investigations are only very much going to continue. when you look at market reaction, there has not been much. there has been little if any. that is different than what we saw last week when there was a slight dip and rebounded in terms of the dollar. today this is in administration with a new communications director in anthony scaramucci that is looking to get everyone on the same page and move forward. we should note that president trump's children and son-in-law were very much behind the hiring of anthony scaramucci.
they feel now that they are now all on the same page. david: i was struck by how much he said was pulled from the statement that he gave to the senate intelligence committee. he said that president trump had a better message and ran a better campaign than his opponent and "adjusting otherwise ridicules those who support him." it's a direct and onto his backers during the course of his 2016 campaign. let me ask you about this process. kevin cirilli mentioning that we do not know whether or not tomorrow's hearing or interview will be before the public behind closed doors. how are these negotiations taking place? we are going to have two other members of this and ministration -- the administration, paul manafort and donald trump jr., heading up to capitol hill. how does all this work? kevin w.: the committees operate mostly in secret, particularly the intelligence committees. do is inhe work they secret and occasionally they do
open things. on the senate side, the approach is a lot of document gathering and research could they want to do a lot of the prep work. when they meet with a bigger name people in the associatedion and with the campaign, they know what questions to ask. they know they get one big shot at these guys and they want to have everything in line. a number of things that they're talking about, depending on the person, durant to classified information. we know that intelligence intercepts are one of the things that has been an underpinning of some of the investigations. obviously not all that can be discussed in an open session. the general way they are doing it is a lot of the research work and document work ahead of time. staffers and members have spent a lot of time out of the cia and other agencies reading through these classified documents and intelligence reports. do want to do things behind closed doors where they can discuss intelligence and perhaps figure out how to discuss a
portion of these topics and the public session. everyone is going to expect at some point that jared kushner will have to appear in public. it sort of a question of which forum and when. asked for the wednesday hearing, this is the giving of a process. i'm not really sure at this point that we are expecting paul manafort or donald trump jr. to be there at wednesday's hearing. they were invited and asked for a lot of documents. their lawyers and representatives are negotiations with those panels about handing over the documents and a possible appearance. it seems to me that might not happen this week. there might be some other witnesses, but this is a broader hearing on foreign lobbying. david: kevin whitelaw, and kevin cirilli, thank you for being here. democrats are unveiling a new strategy called a better deal. what do party leaders want to do differently? senate minority leader chuck schumer speaking right now. this is bloomberg.
david: this is "bloomberg markets: the trump economy." i'm david gura. chuck schumernd are unveiling what's being called a better deal today in berryville, virginia. nancy pelosi speaking now and it's a blueprint emphasizing kitchen table issues, the latest move for democratic party trying to find its way back to power after a crushing defeat in november. johnny is now is sahil kapur. the not back to the new deal does not escape me. what does democrats -- what are democrats seeking to do here with this blueprint? sahil: it is after the stunning election defeat that cost him not only the white house but ofth houses
government that left him devastated. then,e first time since they have come to a consensus on how they should try to move forward. the consensus is emphasized kitchen table economic issues above all of. else. many of their other defeats earlier throughout the 21st century so far, including 2010 and 2014 and even 2002 and 2004 is that they did not emphasize kitchen table issues enough. toy were doing one thing african-americans and wanting to hispanic's and they would talk about og bt q issues with the gay community. they want to have an overarching economic message for people who don't generally vote democratic, mainly white working-class voters. david: the present tweeting this "democrats just said
they should blame ourselves, not russia." how big of it is it for democrats to move away from talking about russia involvement in the u.s. presidential election? sahil: it's less of a pivot for democratic leaders because they have been pretty humble about the results of the election. they have not blended on one thing or another. many of them have accepted fault. they view russia as being important because it's important and an easy thing to talk about because it tends to make a lot of news. frankly there is a lot going on. i don't necessarily think it's a flip-flop or democrats to be saying that can be an issue. we can also have been at fault for not doing enough to win the 2016 election. i think they are a bit separate, but president trump saying that this is a major concession from democrats. to him, he seems to be implying that because the democrats are admitting the russian investigation should stop -- i don't think that's quite how it's going to work. they in thise
town of fewer than 5000 people upset abortion to comedies to? outside of washington dc? sahil: i'm told it's the come district they need to win back the house and be successful nationally. david: thank you very much. he is joining us from capitol hill today. coming up, we will look at the path ahead for health care. warningt trump republicans they will face repercussions if they fail to pass health care legislation. meanwhile, gop leaders plan to hold another vote on health care led to this week. the latest from stephen dennis on capitol hill coming up next. this is bloomberg. ♪
jared kushner has said he did not collude with russia. spoke to reporters at the white house today after meeting with senate investigators probing russian meddling in the presidential election. kushner told reporters he wanted to be very clear. not collude with russia, nor joy know anyone else who did so." the president tweeted today todayicans republicans have "a last chance to do the right thing. " [no audio] senate majority leader mitch mcconnell is making a last effort to revise -- if it will repeal or replace the affordable care act. immigrants to the u.s. illegally. it is an incident that resulted
in the deaths of at least 10 people. a complete file today accuses him of driving a trailer packed with immigrants for commercial advantage. has the possibility of the death penalty. in russia, saudi arabia and the sized it's commitment to ending the oil and saudi. the saudi's promised deep cuts to oil exports. global news 24 hours a day. powered by more than 2,700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. president trump will make comments on health care later this afternoon. the president turned up the pressure on the -- on republican lawmakers. he said "if republicans don't repeal and replace obamacare, the repercussions will be far greater than any of them understand." we will get more answers on that
later when they hold a vote. here with more inside -- insight is steven dennis. the president invited republican senator's to the white house and had lunch with them in time -- nside the state dining room. what could happen this week? steven: they are talking about having a procedural vote. much openvery question, whether that will happen tomorrow, how close they are. they still have been negotiating as well as long, last week with individual senators, with groups of senators, trying to get them to yes. have a couple billion dollars of extra room they could theoretically use to buy off some moderate and get them on board. they will have to make some tweaks to get people like mike the conservative from utah,
on board. he was one of the people who came out against mcconnell's bill and help kill it. they will have some regulatory tweaks, as well. it is a very -- it is very tough to see how they can get to that 50 votes. john mccain was diagnosed with brain cancer. they would have to run the table, get everybody on board in ,he end to pass this week including john mccain flying in to cast the 50th vote. that is a very tough road. to get the moderates and conservatives on board, and john mccain. rand paul and susan collins one from the left and the right of the party, are pretty hard nos on what o'connell wants to do here. david: how are they reacting to what the white house is flexing? there was another to be over the weekend the president said, that some sad
republicans do very little to protect their president." you don't have to read between the lines there. he is trying to force a play here on capitol hill. i do not see it working. keep in mind, a lot of these republican senators who have been no or close to know for the past several weeks, all of them are not up for reelection until 22.2 she cannot go into a primary and take them out. he has a slim majority for a lot of other pieces of his agenda. he cannot permanently hurt these people. will gethink muscle the job done. you will have to cut a deal and make these people more comfortable with what he is doing. so far, this thing was supposed to be passed in january. then it will be passed in march and a couple weeks ago and last week. at some point, mitch mcconnell
-- and it sounds like it will be this week, he will force them to vote. that will be the moment of truth, whether these republicans, who promised for seven years to do this, will actually vote to do this. all bets are off at this moment. david: what we know about that outreach the leader is doing with members of his conference and the leadership -- the reaching out the white house is doing? i remember the luncheon last week, president trump headed to west virginia today to speak to the boy scouts there. he is going to be in the mountain state little later today. what kind of outreach are those two leaders doing? leaders,just the people like steam of burmaen: who runs medicaid. she has been the suffer point person to have one-on-one meetings with senators like the one -- the senator of alaska.
been a there hasn't parade of republican senators saying hey, i am on board with this now. i like these numbers. in theroblem remains congressional budget office score showing millions of people losing insurance, higher deductibles for low income people, and higher premiums for a lot of people. this is something they are trying to counteract. their own study of what ted cruz's amendment would do. there is a lot of confusion right now among the sensors. i not hearing a lot of enthusiasm. david: steven dennis joining us from capitol hill. resident donald trump set to deliver a statement 3:15. we will bring that live to you on bloomberg television. bloomberg's david westin talk with the former federal reserve governor. they cover everything for
monetary policy and inflation to the outlook for the federal reserve. >> basic orientation shifted from what is the reason to raise rates to what is the reason to go off of the plan for gradual increases. as you can probably tell from yellen ands of chair others, people are thinking about what is going on with inflation. we do not know whether in the next couple of meetings those concerns will be strong enough that the fed will hold off from increase or not. i think this question of what is driving inflation is not a new one. it is not as though the fed has just discovered in the last six months that the phillips curve is not operating as they might have liked. the phillips curve has not been a good predictor for about 20 years. correlation between inflation and unemployment. that has been well documented at this point.
people know it. i think it is interesting notwithstanding the fact people know it intellectually, they tend to fall back on the intuition that as employment strengthens, at some point wages are going to increase. and so will inflation. >> how do you balance the upside and downside risks of getting -- too fast or too slow? as opposed to really slowing down the economy? >> what of the most important factors for the last several years for people thinking about monetary policy has been the fact that with interest rates quite close to zero, should we get a shock to the economy, there is not much room to reduce rates. consider the fact within the normal recession the fed's response will be several hundred basis points of easing. there is not the room to do that
and, therefore, there has been a sense that risks were asymmetrical to the downside. side ofs on the other runway inflation seem modest at this juncture. it is a little -- you may be able to make a case for inflation getting to target and staying there. i think it is hard to make the case for the inflation run away 70's. in the late with respect asset prices, that has been something people have been looking at and thinking about for at least three or four years. most analyses would suggest while they bear watching, they are not the immediate kinds of have highly leveraged asset bubbles that can break in a destructive way. ratesis not only interest the fed has, but also the balance sheet. there have been increased
talks about people increasing the balance sheet. why now? >> there's a group of people on the fed who have been wanting to increase the balance sheet for some time. the fed as a whole has not wanted to do so until rates have --n raised enough for their so that there was a little bit of room for a mild slow in the economy. you have at least 50 basis points of room. why go now? i think there are a couple of reasons. sense that the fed announced it was going to begin to change the size of the balance sheet once rates got to a certain point. markets seem to think that was somewhere above 1%. that is where we are. ashink a second reason is, the uncertainty whether chair yellen will be reappointed is
looming, it may be that the fed wants to make sure policy is set on an understandable and certain course so that if there is a transition to a new chair, the balance sheet adjustments will already have been laid out. in the lapo not lay of a new chairs the need to come up with an adjustment policy. chairnot know whether yellen will be reappointed. i think you will be great for the country if she were, but that is something affecting their decision. david: that is daniel tarullo earlier today talking to my colleague david westin. to getan will be trying for standing bills passed this week, including measures that would boost defense and fund a wall on the u.s. mexico border. this is bloomberg. ♪
david: let's get a check on notable movers this afternoon with taylor riggs. we have at&t and time warner. at&t is lower. that bid for time warner looks like it can be making progress. withypically see this acquired lower and target shares moving up higher and progress being made here with u.s. antitrust officials. we have some other merger news that is not so good. money gram and alibaba. see -- here you see the u.s. taking a little bit of an upper stance.
alibaba not going through as much for money gram. a little more scrutiny for some of these chinese companies. finally, you and i talked a lot about the retail sector. it looks like it might be filtering into be sorting goods -- in the sporting goods sector. almost 32% today. down the most in over 18 years. the company said it is facing very challenging trends and it could see a 10% drop in comparable sales in the second quarter. like in the sporting goods athletic wear, it is driving down and having some effects on the other big companies like dick's sporting goods and foot locker. perhaps some concerns from the retail start to make their way into this wording goods sector. david: taylor riggs with that update this afternoon. let us get back to politics now. the house hopes to approve a package of four spending bills for the fiscal year 2018.
they cover defense, energy, and water. joining us now is bloomberg congressional reporter eric watson. great to have you with us here. a few names off here. i did not include homeland security. what accounts from this passage? >> i was surprised to live security was in there. as you mentioned, they are including funding for the border wall. billion out of the $788 billion package would fund trumps border wall. p's border wall. that means democrats would be sure to oppose this and have a possible government shutdown in the fall. the beginning of the fiscal year may see far away, but congress is about to head out on their august recess. they come back mid-september, which is three weeks before the deadline. border wall, we
are raising the risk of a government shutdown. david: the border wall is unappealing to the democrats in the house. how about the authorization and use of military force? this is something i gather the democrats would not like. did this make it into the package? >> democrats were able to get an amendment on there which would force congress to reauthorize military action in the middle east and of guinness and. this spending bill boosts defense spending by more than $70 billion. trumps more than even wanted. a lot of congressmen are happy to put in there, but there is no renewal of authorization for military force. they are using the same law that was passed after the september 11 attack. behind closed doors have stripped that out and democrats are not happy. david: i was talking to steven dennis about the divide when it comes to health care.
we heard about the partisan divide, how about within the republican party? how sure will it be for paul ryan to support the package? >> house republicans are upset they are going into august recess without a legislative win. six-month into the administration. they have control of washington, d.c. there has been no legislation enacted. without even agreement on tax reform package, the tax code overall that the market 13 on. there tried to have some kind of unifying vote on the security spending package. however, some members of the conservative caucus are threatening to withhold votes. they want to bar transgender troops from receiving medical care. they have other issues they want to see on there, including cutting the number of employees at the congressional budget office, which they have had fights with. there are a lot of problems, and it will be another nailbiting
vote for paul ryan. let me ask you a people are talking about a return to regular order. there were those after the election who said republicans are controlling the house, we might go back to that. it seems it is still business as usual. we are looking at another short fall for resolution. the trump administration was coming in and telling congress to hold off on finishing the current year's spending untold may. that caused the entire process. the big delay in obamacare repeal efforts have stalled any work on the budget, which are also not coming up for a vote this week in the house. the whole process has really been backlogged. this would mean 12 individual spending bills, lots of chances for individual members to get their special provisions in there. there is no chance of that happening. david: thank you very much.
joining us from our bureau in washington. jared kushner again asserting he did not collude with russia, think president trump won the white house fair and square. more from what he said next. ♪ >> donald trump had a better message and ran a smarter campaign, and that is why he won. suggesting otherwise ridicules those who voted for him.
funds for my businesses. i have been fully transparent in providing all requested information. the congressional calendar is jampacked this week. with kevin again. kevin, let us start with what jared kushner mentioned just a few minutes ago. he intends to be back on capitol speaking with the house intelligence committee. give us a sense of what we can expect from that. kevin: we expect that will also be behind closed doors. he will be meeting with staff and likely some house members. they arrived back in town tonight. they will be around for folks to go. i think his presence would be a draw, likely to see some members show up to that. not sure we will hear much more than we did today. i cannot imagine additional remarks. have some more accounts
trickling out about what is it set in encounter. on wednesday -- david: on wednesday, we have a two panel committee. what do we expect out of those hearings on wednesday? ke thev subjecti is foreign lobbying and disclosures. n: the first panel is with some government witnesses. the second panel was supposed to include manna for an trump jr.. both are in negotiations providing the documents that the panel requested, as well as time for closed-door interviews and a possible public hearing. it is unclear beyond the fact that they are interviewing and negotiating this exactly when that might happen. said thatchairman has
arend the ranking member prepared to subpoena these witnesses if they do not agree to testify. witnesses isvited glenn simpson. he is reported to have commissioned this infamous dossier about trump. he declined to testify, saying he is out of the country. the panel said he will issue a subpoena for his testimony. david: last question. there is other stuff going on as we heard from steven dennis. what is the number one thing you will be watching for in terms of health care this week? a vote this to do week. they said this before but this is how much they said it in terms of timing. we are waiting to see if this will be a vote on a repeal only bill that will be a two-year delay, or if it will be a
replacement bill that were that mcconnell has released. we still do not know if that that will happen or what it will they, and we are not sure will get enough votes to advance it. all of those things remain unknown, even to the republican members themselves who seem to be waiting to hear what the plan will be. david: kevin whitelaw for us here at bloomberg television. a programming note, president donald trump set to deliver remarks on health care in about 5 wall street time. we will relieve his comments live on bloomberg television. this is bloomberg. ♪
markets. we are live over the next hour. here are the top stories we are covering on the bloomberg and around the world. in politics, jared kushner playing defense for contacts with russian officials. he denied collusion with foreign agents in his interview with senate investigators. in markets, opec's control over the global oil is in doubt. members of the organization met in st. petersburg. in corporate news, a healthy addition to the investments, web takenas agreed to be private for $2.8 billion. the u.s. market closes in two hours. let us get a check on where stocks are trading with abigail doolittle. >>