tv Bloomberg Markets Americas Bloomberg July 24, 2017 2:00pm-3:30pm EDT
welcome to 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. overall.'s
we're looking at modest moves for the dow and s&p 500 to the downside. -- it appears that the also that second-quarter earnings is going with a lack of conviction. the nasdaq putting in a new record high today, but this may suggest times could change. it is a five-year chart. a ratio with the nasdaq 106, the s&p 500 six trading near five-year highs. it suggests it may break toward the higher end of congestion and perhaps even higher from there. it would suggest technology stocks can see a bit of a pullback. time will tell, but this started very interesting to see that volatility for technology shares higher than for the s&p 500 overall. some of the top points for the nasdaq include amazon, apple,
and tesla. amazon receiving a positive mention, saying the company is larger to be its second-quarter sales estimates on thursday, even though the profits could be up in the air since they do tend to spend a little more sometimes. apple trading higher after zaza time said there has been a smp-up for some of's apple -- ome of apple's suppliers. tesla going up since june 13. finally, taking a look at the telecom phase, we have at&t trading down modestly after the company said to be in early approval for a big deal. could heat up. here are some of the names in question. julie: appreciate it. trump's seniord
adviser son-in-law jared kushner got a chance to tell his side of the russia story today. here is what he said following his private meeting with senate investigators. >> i did not collude with issia, nor did i -- nor do know of anyone else in the campaign who did so. i had no improper contact. i have not relied on russian runs for my businesses -- rus sian funds for my businesses. i have been fully transparent for providing information. joining us as kevin cirilli. we got this statement from kushner, which was largely echoing the statement he released this morning. what was the goal of having him come out and appear before the press?- the kevin: the sources i thought within the administration and
work connected to jared kushner suggest they did not want to give the appearance he was trying to dodge questions or tried to plead the fifth. they are calling today a meeting and not a testimony. in the senate building where i am, right next to me with staffers of the u.s. intelligence committee, they were seen this past half hour, at least three members of that committee entering into the senate committee room to receive a briefing of sorts. one of the senators said they were being briefed on the matters. there wasner saying no collusion. they're trying to get out in front of this and move on beyond this. the president tweeting out earlier today, why are the committees and investigators looking into crooked hillary's crimes?
senator susan collins walked by me and i asked her for an update and she says they still do not know what they will vote on. julia: i want to come back to this because i was looking at some of the democratic responses to jared kushner's meeting today in the interview he gave. saying no presumption here gerrit is telling the whole truth. he should testify in public and that statement raises more questions than answers. where does this go from here in light of that kind of commentary? kevin: i can tell you tomorrow jared kushner will meet with the house counterpart of the house intelligence committee presumably behind doors. , they have been invited to testify and it is unlikely they will on wednesday before the senate is shearing committee. all of this suggests the investigation has reached a new stage and they are in the fact-finding position. i spoke with several sources who say just because jared kushner did not testify publicly today
doesn't mean he will not testify publicly in the future. this is just the current phase of this investigation. that, thep side of backdrop is the russian sanctions bill, in which there is a bipartisan deal that was struck over the weekend by house leadership after the senate nearly unanimously passed a version of this. really what this sanctions bill the is give congress authority to handcuff this president, should he decide to sanctions,en russian whether or not he decides to send this bill. it would be the first veto and a republican-controlled congress. julia: i was going to ask you that. we seem to have a communication mismatch. anyway, it would take them a few weeks to get on board. washingtonli, chief correspondent for bloomberg news. they're making up a package of spending bill before heading
home for august recess. republican leaders under pressure from donald trump and trying to jumpstart health insurance legislation. we have the latest with sahil kapur. where do we go with this spending bill? we are expecting donald trump to make a statement on health care in the next hour or so. what would we expect to hear from donald trump from this point? sahil: i think we will be hearing flashes of what he has been previewing on his twitter feed. he calls this the last chance for republicans to keep their place for the river -- the repeal and replace. he needs 52 members to vote for some sort of bill. we do not know what the vote
tomorrow will be on specifically. it will be a motion to proceed to begin debate. after that, there can be any number of bills voted on. it can be the latest revised mcconnell bill, there could be another version of that. there could be a repeal only bridgeth a two-year before taking effect. as far as i know from conversations i've had, none of these have the votes to pass. this could just be republican leaders putting this on the trying to get finality on this issue, and moving on realizing they cannot have this. that is one scenario. requiresd scenario some thing of a miracle, i think. julie: more realistic would be this minibus we are talking , spending bill. what exactly is it and what is its purpose? sahil: the idea is to have a series of vehicles to fund the
government. there are certain parts of that effort that have more agreement house republicans and senate republicans than others. there are disagreements. theyouse freedom caucus, tended to vote against these things in the past unless they get their way. some of them are threatening something similar this time around. the government has to be funded by september 30. has to be passed and signed by the president or the government will shut down. this is one of the rare instances where a party completely and control of congress and the white house is having problems agreeing. julia: we are talking about 66% of the federal spending budget, a provision of $1.6 billion for the border wall here. you can pick out pretentious issues, even if you get agreement from the house on this. if the senate able to do anything with this before the august recess? it doesn't look likely to
me. it is delaying the start of the august recess by two weeks which gives the extra breathing room. what senator mcconnell has said is he wants to fund the pentagon department of defense and he wants to do a bunch of nominations. it is not clear they can get the government spending bill done. you mentioned the $1.6 billion for the border wall. i think you are right. that will be a contentious revision here. we all know president trump promised it over and over again. democrats are dead set against it. you cannot pass a bill without 60 votes. and it was pretty clear democrats will not accept this. we are heading toward a government stand up unless someone caves on this wall. they need a miracle one way or another. sahil kapur, thank you very
much. we will bring you president trump's full remarks on health care. he is due to begin 3:15 new york time. let us check on the bloomberg first word news. >> president trump took shot that congress, hillary clinton, and jeff sessions. he tweeted, "why are the committee and investigators looking into crooked hillary's crimes?" the parents of a critically ill for are dropping charges experimental treatment. in an emotional statement outside of london's high court today, guard said too much time has passed and it is time to let go. president is urging an end to the crisis between qatar and arab neighbors. he voiced support for mediation efforts led by kuwait.
king ofmet with the saudi arabia, which leaves the anti-qatar block. qatar's neighbors are accused of supporting. there is new hope for a cure for hiv. according to his study, a south african child has remained free of the virus for more than eight years after early treatment. this suggests hiv may be controllable or other ways. global news 24 hours a day. powered by more than 2,700 journalists and analysts in more than 120 countries. i'm jessica summers, this is bloomberg. julia: coming up, a bloomberg exclusive. causes the fed to hold off on more rate hikes. from new york, this is bloomberg. ♪
julia: this is bloomberg markets. i'm julia chatterly. a weak inflation is expected to weigh on the federal reserve's decision this week. yellen told policymakers are watching inflation very carefully, but she did not signal a change in rate hikes. factors holding down inflation and an exclusive interview with bloomberg's david westin. >> 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 the comments of chair yellen and 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 another rate increase or not. i think the question of what is driving inflation is not a new one. it is not as though the fed has just discovered the phillips curve is not operating as they might have liked. the phillips curve has not been a good predictor of inflation for about 20 years. correlation between inflation and unemployment. that has been well-documented 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 will increase and so will inflation. >> how do you balance the upside and downside risks of going too fast or too slow? people talk about a policy mistake possibility. what are the risks of going to
slow and getting runaway inflation as opposed to slowing down the economy? importantthe most factors for people thinking about monetary policy has been the fact that with interest rates low, still quite close to zero, should we get a shock to the economy, there is not much room to reduce rates. when you consider the fact within the normal recession, the fed's response will be several hundred basis points of using -- easing, there is not the room to do that and there will be a sense that risks were asymmetric to the downside. the risks on the other side of runaway inflation seem pretty modest at this juncture. caseay be able to make a or inflation getting to target and staying there. i think it is a little hard to make the case for the kind of nation runaway we saw in the late 70's.
with respect asset prices, that has been something we 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 concerns you have highly leveraged asset bubbles that could break and a destructive way. >> it is not only interest rates the fed has, it is also the balance sheet. there has been increased and talk from members on the fed to reducing the balance sheet. why now? a good question. the first factor is there has been a group of people on the fed who have been wanting to reduce the size of the balance sheet for some time. i think the fed as a whole has not wanted to do so until rates for aeen raised enough little bit of room to accommodate in case you had a mile slowdown in the economy --
a mild slowdown in the economy. why go now? i think there are a couple of reasons. fedis the sense that the announced it was going to begin to change the size of the balance sheet once rates got up to a certain point. that waseem to think more than 1% and that is where we are. as thed reason maybe, uncertainty about whether chair yellen will be reappointed is looming out there, it may be 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. you don't lay in the lap of a new chair the need to come up with a balance sheet adjustment policy. we don't know whether chair
yellen will be reappointed. i think it will be great for the country if she were, but that is something that is also affecting their decision. that was dan tarullo speaking with a david westin. do not miss our special coverage of the fed decision on wednesday. that is at 2:00 p.m. new york time on wednesday. still ahead, web m.d. growing investors and health-care firms. we will discuss the private equity firm strategy. from new york, this is bloomberg. ♪
contingent on its 20 claim $8.7 billion deal with everett. that is according to people familiar with the matter who says they are struggling to secure orders by november. more potential sales could be in jeopardy. medical websites web m.d. has agreed to sell its side -- sell itself. that represents a 20% premium. web m.d. is used by 75 million customers. that is your business flash update. growingor more on kkr's investments, we're joined by melissa. let us start from what m.d.'s -- web ms's perspective.
>> it has a volatile history. wet md went public in 2005 -- md went public in 2005 and tried to find a buyer in 2012. in march, the activist hedge fund tried to get involved in push for a potential sale. [no audio] julia: it is not the only health care acquisition. the portfolio does not just focus on health. a health careis and tech deal wrapped into one. on one hand, it is playing into
the health and wellness trends. people are trying to take more ownership of their health. they are looking at sites to know more about their health and things like that. kkr is buying this through their own company. this is like a hub of websites software inclusion's on different verticals. they already have a strong health care vertical and i think this is wrapping into this other portfolio company. julia: they have got home and travel. they are aggravating all sorts istraffic here, whether this business to consumer. it is something far bigger perhaps they are trying to look at in terms of services and also advertising and the traffic they are generating here. melissa: absolutely. i think it is part of a larger health care play. just this morning, they
announced another deal for nature's bounty. they are buying that from another private equity firm. are in a company called aeromedical, which is a medical evacuation business. they are in pharmaceuticals. they are pushing health care with these two deals announced. julia: somehow they can strip out costs and monetize this. fascinating deal. great to have you on. thank you so much. private equity reporter for bloomberg news. opec control for the global marketing. secretary-general told bloomberg about health care plan. this is bloomberg. ♪
agricultural commodities. they are off their lows of the session. we have rain in the midwest with fears about the drought. coffee the biggest loser down by nearly 3%. check where we are trading now, still around those levels. gold on a roller coaster ride today. nearly a month before coming back down again. that wasay high relatively unchanged. come inside to bloomberg and take a look at g #btv 8626, you see surging metals demand, the weakening dollar, and in over a there.nd analysts out it rising for the first time in three days. saudi arabia said it would make deep cuts to its crude exports in august and encourage better
compliance. how do they enforce that? julie: energy stocks are lower today because oil is higher. committed tois alleviating the global supply. keeps are allowed to increasing output. >> the monitoring committee. also now in a position to give suggestions. kept the ship in the same direction with no changes whatsoever. it is going to have to change.
the studies are also going to continue to lead by example. you are also looking at and it willtimism be improved demand. a little bit of a discussion about what happens after that. they do take away from st. petersburg. a chance to speak with the opec secretary-general. >> it is one of three initiatives.
countries that decided of their own volition to join the coalition to ensure stability to the market in the interest of oil participating countries. .nternational oil industry the global economy. the oversight and the mechanism. comply to the wrist directive obligations. today, we the meeting had conference calls, similar ministers going to the data showing.
it is how we intend to overcome these challenges. it is very business like. game.l change the >> where always using different parameters. what was decided today by the in addition to what was agreed upon the look at othero parameters. because of the changing dynamic of the market. within the market may not be relevant.
there are seasonal factors, operational factors. it becomes material. we are trying to be ahead of the curve, if you like. julia: let's check the headlines on the bloomberg first word news at this hour. >> jerod kushner he did not collude with russia. he told reporters he wanted to be very clear. >> i did not collude with russia nor did i know of anyone else in the campaign that it so. i had no improper contact. i had not relied on russian funds for my businesses.
have been fully transparent in providing all requested information. >> he spoke to staff members for nearly three hours for russian meddling in the 2017 presidential election. the president of poland will veto part of a judicial overhaul. the legislation has led a straight days of antigovernment protest. it decides which judges are promoted. there are different talks. both sides are reportedly going through a cooling off period. toey sticking point is said be disagreement on the 35,000 turkish troops stationed in
cyprus since 1974. facing off with left-wing protesters at the annual state of the nation address today. they halted preliminary peace talks after rebel attacks and security forces, including wounding five of his security men. global news powered by 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. deutsche bank is preparing for brexit. -- this isportedly bloomberg. ♪
is bloomberg markets. i'm julia chatterley. julie: let's take a look at notable movers. abigail: we have gained storing -- hitting a nine-year high after the company put up a andng second quarter interactive gains were very strong. the looks like the second half sales could benefit from lottery services. those taking national gaming up with the shares. have las vegas sands and mgm dated take up there growth gaining revenue estimate.
the previous estimate had been 25%. if you recall, there was a long decline to last august. row andat 11 games in a it looks like july is set to make it 12. pretty interesting. take a look at the today chart and a pretty big decline for the shares of hasbro. sincee for the worst day 2008. the company missed second-quarter sales estimate. not in a big way. the weakness came from disappointing sales and play school and the easy bake segment line. drag.s the biggest average.f the 30 year it'sis yellow column, july. the s&p 500 has a tendency to
pop higher and then drop. that is the s&p 500 this year. see little bit of drop this week. it could come later today after alphabet reports lots of other earnings report. >> deutsche bank is considering shifting around 300 and $50 billion which is about 1/5 of the balance sheet. michael moore leads the financials team in joins us with what is being referred to as project bowline. >> think it is your favorite thing about it. >> tell us what is contagious. >> we reported previously that deutsche bank was going to shift more assets to germany and book more trades as part of their brexit plan.
it is a significant chunk. through london moving through germany. we have a couple of things going on here. it introduces a lot of legal questions about where things have to be booked. over the last couple years, it became more germany focused, back to its roots. such a big number, it's not that many people who might be shifting. think youundred? >> i are talking a couple hundred. if have client facing people in london. the asset move is bigger than the people move at this point in time. it does make you wonder down the
road, with a shift more functions? and that question with a lot of banks is not just the short term move but over the next decade. >> moving to frankfurt for them is on a relative basis. they recently said they are preparing for hard brexit. they are, in some way, considering this. to what extent is this plan contingent on a hard brexit? or will this change no matter what type of brexit we are talking about? is it already trying to shift the focus more to focus on the entity?art of the >> let's make a plan for hard brexit. has some factors that may lead them not to scale it back as much.
would like to scale back as much as they could. i think it kind of varies bank to bank. >> is that why it's called bowline? we have to come back to that. you've got it in the notes there. >> it is maritime with the edges and it can be easily untied when it's not under lows. >> your banks are considering shifting. we're talking about frankfurt. it is a very different city.
it is not traditionally seen as a place to live. >> i see it is exciting for berlin. the fellow german city. it is a bit cheaper. that will be one of the appeals. some of the banks will do local hiring and some downsizing. there won't be a retiree person moving from london to frankfurt. a key person it is convincing then to move you. londons built outside of and trying to get people to move there is not always there. i spoke to one american
executive. that.e to move considerations are in focus and pretty huge. american banks often have a lot of ex-pats. >> to be continued. michael moore leads our financial team. here in the u.s., the biggest banks reported earnings last week's. an economic backdrop sent treasury yields lunging. this is something we've been tracking pretty consistent lee. #btv 4326 looks at the index versus the 10 year yield. peeking, thenks
white line there. we have seen both of them turned down now. the index down nine of the last 11 sessions. it has fallen 1.8% in that time. we see this decline in both of them. >> we have to look at what we have heard from some of these banks. the rates are not going to go up and it ties very directly to what we see as a relative and performance. >> and you have the trading issue as well. >> take a look at the bloomberg
business flash, a look at the biggest stories in the news at the moment. at&t and time warner are said to be an early talks for u.s. antitrust officials for approval conditions. they have been pressuring the justice department to stop the $85 billion deal on the grounds it will lead to higher prices and performance for consumers. , theystice department await senate confirmation. shares of pandora are rising today. it has taken a new stake in that company. the pandora founder quit last month. the company has had problems coming up. greece is returning to the bond market after a three-year hiatus. pressing expected on tuesday, planning and exit that ends in
julia: this is bloomberg markets. the ceo and chairman of office capital management still very much runs the show at the hedge fund. but the company these days is in the hands of a little-known 40 -- 34-year-old that follows a scandal back in february that spooked clients and blew away one third of oxus assets. assets.ziff who is this guy?
he's not a big name in this world. >> not yet, but they elevated him to coach and investment officer. it was a signal that he's here to stay. also, he first met in 2004 as a summer camp counselor. they went on to work at steve mnuchin and joined the distressed -- distress analyst. with respect to the business, he lot to meritne a this. they need him desperately to stay on going forward. >> do you shape the assets of
the portfolio? are they where they were with the focus on equities? it feels like a succession plan to me. >> he was in line for one heck of a paycheck. it's incentive to keep him, but sorry about what happened. >> we are not letting him go. it's important for investors to know that down the line, it is in good hands. julie: it is contingent on hitting several goals.
the credit opportunities fund seems to be doing well. but just in terms of performance , this is where they have to right the ship. >> a fascinating story. coming up, we look at her and in season with 182 company scheduled to report this week alone. all focusing on alpha that -- alphabet. plenty more to come. this is bloomberg. ♪
♪ we are live in bloomberg world headquarters in new york. politics, president donald trump taking health care into his own hands and set to make remarks on the repeal and replacement of obamacare in the white house. it will bring that to you live. the first wave of second-quarter earnings setting the bar high. bed.cludes off the divorce and how tech giants could start with a breakup.
>> reporting second-quarter earnings that represents 30% of the index market cap. and right now, three quarters have beat expectations on the bottom line. surpassing expectations for growth. it up or single digits. >> it is a better margin we have seen over the long-term history. working in numbers there. revenue growth is not been as impressive in terms of expectations. s&p 500 revenue growth on track for about 6% growth which is roughly in line with expectations. they have been a few winners and losers.
it has actually surpassed topline expectations. the energy and consumer space continues to be trouble spots. >> is it reacting more? >> we tested the one-day reaction of the market to the earnings report and we found that earnings misses generally met with sanguine reactions. we see one day losses. it is really in a search for companies that can grow. >> exporting goods chain that came out with guidance and down something like 23% in a single session.
been guess haven't crunching the numbers as much and i am curious about your feeling for the balance. >> guidance has been very quiet. there are 60 different companies that guided and we are on pace for something with just over 40. less visibility themselves. really more of a neutral stance which i don't think is helping. they are not showing that visibility as well. >> we have had tech earnings. what about expectations their? you propel that growth story sort of point to something like netflix brees on them miss with the bottom line.
fact thatn's of the these can grow. >> all about the growth. we will be speaking further. a perfect segue. tomorrow, facebook, and nintendo on wednesday. and amazon is trading at a record coming up on thursday. it was not the easiest second quarter. expect? carolinas joining us from london. what about the underlying business? to have going earnings-per-share drop about 36% if you factor in the $2.7
billion fine they came from the eu around the shopping area of the business. the you tube affiliation, some of the brands were backing away, boycotting because they are worried about ads coming up against racist content and the like. 19%. it is more than half a billion per day. have the marketers saying there is room to grow even further. it could grow even more. more than 80% of the revenue, it can grow mobile even bigger and
dominate that space. paid clicks have been going up like this. we saw the highest best quarter. and other parts of the business, they are also seeing cloud doing very well. julia: what about the news from google, what does this mean for the company? >> during the whole organization , it is the parent company of google and was brought in as google ceo back in 2015. now he moves to the board.
the statement coming from larry page saying he's coming and working with him. the awkward situation being overcome here. the in has the clout part of the business. diane greene is on the board. now they are equals. it they will be on the board together. one thing i would point out. now five out of 13 to me doesn't sound that much when you look at tesla and the amount of insiders and company members there. amazon, jeff bezos is the only executive that is also on the board.
facebook is something like three out of eight. julia: --2 looking ahead -- julie: looking ahead, about 4%. let's get a check of the headlines to jessica summers. injured kushner says he did not collude with russia. he spoke to reporters at the white house today. and possible ties to the trump campaign. clear andto be very nor do i know of anyone else in the campaign who did so. nancy pelosi offering a retooled message. that someone has your back.
democrats gathered today to unveil their new slogan, a better deal. they traveled outside the beltway and into the district. the senate and house minority leaders were joined on stage by rank-and-file democrats. for the making the case u.s.. they reminded administration officials about the importance of the u.s. and u.k. relationships. >> the economic value of the bond cannot be overstated. britain's largest export market, buying $200 billion of u.k. goods and services every year. trading system may need some tweaks but the core principles should not be abandoned. removing barriers could lead to a next $45 billion in trade with the u.k. by 2030.
taken a dive after two months on the job. is 10proval rating percentage points in the last month. voters were either confused or happy about the plan. powered by 2700 journalists and analysts in over 120 countries. i'm jessica summers. this is bloomberg. >> live pictures of the white urgingpresident trump senate republicans to pass a health bill. it will be in just a few minutes time. he will bring it to you here on bloomberg.
2 this is bloomberg markets. julia: the latest with president trump schedule to make remarks a few minutes from now. joining us from capitol hill is kevin cirilli. and bloomberg senior white house correspondent margaret joins us from the white house. margaret, i want to start with you because it seems as if we have gotten a little bit more with whom we will be appearing. >> we are expecting the president to appear with a whom theyen americans describe as victims of obamacare. these are human examples of people that run into circumstances.
senate intelligence committee hearing room where a group of lawmakers are gathered inside to get a briefing on what happened at the closed door meeting with senate intelligence committee staffers with jared kushner. republicans are saying that jared kushner was transparent. was "cooperative" with the committee. but then i spoke with a democrat who said that he had different thoughts. take a listen to what he told me. >> one of my priorities throughout this whole discussion , when we set up the original was open hearings, the ability to declassify key documents in the use of the subpoena power. is part of meeting the first step obligation and i believe this is an area where the public has a right to know. >> is not just jared kushner.
i asked susan collins or not she thinks there's going to be any type of motion to proceed on health care and she said you would have to ask the leadership. clearly, this white house is looking for a surprise political victory tomorrow. ohioresident heads to tomorrow evening. >> on the topic of the president , what the white house is expected to move onto, why is the white house spending so much political capital on what is viewed by many as a doomed effort? made this oneent of the centerpieces of his campaign, and suited republicans. we had to labor day and the fall, we officially enter the midterm.
to show control of both chambers of congress, they were in -- able to enact a signature promise. and there's also the reality that the way republicans have structured scoring and budgeting , if you change that wavingsm, the whole changes. that is the messaging of this. we're showing you live pictures of the room at the white house. discussing, toen discuss the possibility. come back here on this. that, at no point have we discussed that the president might be coming up with his own plan here.
to rally some form of support among the gop, what is the likelihood that he comes up with plan e? >> the plan is and continues to be that senator mitch mcconnell, the majority leader, has both kind of the strategic skills and the understanding of the process . the president has sent next signals about what he would want in order to proceed. the president also has wanted to maintain a little bit of political distance so that if the plan became unpopular with the senate plan and not my plan. and it may be less likely to attach themselves.
mitch mcconnell. even in the capable hands of mitch mcconnell, we have seen how complicated it is. much, margaret. congratulations to margaret you is now president of the white house correspondents association , a new position for her. >> what an exciting time. >> and we will be bringing you the president's remarks on health care as soon as he begins again. we have the picture of where he will be speaking in just a few moments. from new york, this is bloomberg. ♪
julia: we're showing you live pictures of the blue room. , aresident donald trump rallying cry to try to get something across the line. insight.options julie: joining me is jim's turgor of mk holdings andrew want to have the top stories of the day. social media earnings reports, facebook and twitter as well. what is the outlook for the tech earnings for this season? >> components report this week, we combed through the net a coupleto find trades. and netflix that we talked about a couple weeks ago. pretty strong focus here on facebook which we expect the upside of and twitter where we
would structure a collar just to be a little more defensive, reporting the first quarter back in april. julia: time is constrained because of the president, but talk me through the trade. >> we'll go to a 170 or 180 call spread. payoff if we are right. analyst thinks that consensus is just a little too cautious, expecting 670 basis points. spending relative to q1, it's closer to 280. it could be a nice upside. in the next several months.
trading up only four of those times. the august 25 expiration, sell at 22 strike call if you are long. turnaround by 18. julia: so the come, looking at live pictures of the white house with president trump said to further increase the pressure on senate republicans, urging them. from new york, this is bloomberg. ♪
anti--- of the blue room, looking pretty empty. joining us now from capitol hill as kevin cirilli, chief washington correspondent for bloomberg news to give us what we are expecting here for president donald trump. making it clear from the twitter handle today. >> the president looking to have thewn looking to major policy when that is elusive. up in motiono set to proceed on health care plan. i've spoken to several quiteicans who are confuses to what they are voting to proceed on. whether it is to repeal and replace obamacare, that has been the division. right where i'm standing outside is the senate intelligence committee hearing room where lawmakers gather from this committee