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Bloomberg
Apr 5, 2017 12:00pm EDT
later this hour, speaking with the former u.s. ambassador to china and former u.s. commerce secretary to get his insight ahead of the historic meeting tomorrow with president donald trump and the president of china. halfway into the wednesday trading day, abigail doolittle is following what has been going on. averagesfor the major but worth noting that the dow, s&p 500, and nasdaq off of the highest. the dow had been up nearly 1%, on pace for the best day since march 1. now, up six cents of 1% on paper, the best day since march 28. the tech heavy nasdaq on pace for another record high. this could be one reason why stocks have fallen off the highs . before, oil up 1.6 of percent at the peak. it fell negative, a tailwind. it had been a tailwind and turned into a headwind after a government inventory report showed there was a build up inventory that investors had been looking for a drawdown. energy stocks had been the booth for the average of the earlier, now the index -- or that sector is trading lower. true also for the banks. the 10 year yield had been trading at higher. it says that
Bloomberg
Aug 14, 2017 12:00pm EDT
china's trade practices this afternoon. will the chinese retaliate, and what might it mean for the ongoing north korea nuclear threat? an angry birds maker rubio is preparing to go public, but will it later goldman for investors? -- a golden egg for investors? abigail doolittle is here to save us, and despite all the awkwardness over the weekend and threats of may be receiving international lows, we are seeing an upmarket. abigail: we have a rally on our investors think it's unlikely to affect the corporate outlook. we have the s&p 500 and the dow and the nasdaq all having the best day in weeks, if not months. the s&p 500 on case for its best day since the middle of april of the end of april, pretty impressive rebound after last week's selloff. this is something we have seen quite often. this is g #btv 912 and here is last week's big selloff on thursday, the first 1% down move since the middle of may, followed by the first 1% move off since april. andretty impressive rebound this is pretty typical. whenever we see 1% declines for the s&p 500, they tend to be followed by strong rall
Bloomberg
Apr 24, 2017 10:00am EDT
what is next for china's bank. tenure bond digitally regulatory high. vonnie: and budget talks intensify as trump pushes house republicans to restart work on a health care replacement bill. what can actually get done in washington this week? find out, ahead. hyman is here with the news that we haven't had in a while. julie: gains of 1% across the board. all of this on relief associated with the french election and the perception that macron will be victorious in the second round of the election over marine le pen and there is optimism that there won't be a french brexit. we're definitely seeing risk on. it is playing out in the cyclical. doing well in today's session. industrials are also on the list. all of these are cyclical and classic risk on type of things. real estate is lower. utilities take a hit. we have a big medical device distribution merger here. is one of the biggest world's health care suppliers. this is the latest deal. that is as well as ppg, raising $28.8 billion. as we see the risk on affect in the market, we see it play out in other assets. that means the vi
Bloomberg
Dec 19, 2016 10:00am EST
fragile peace agreement in ukraine. in china it is a national red alert brought on by a choking smog. cities are limiting the number of cars on roads and temporarily shutting down factories to reduce pollution. than 700ia say more companies in beijing stop production and traffic police are restricting drivers. thejail confidant of embattled south korean president denied on the first day of her trial that she used her ties to extort money from big companies. today was the first public for herce in weeks friend of 40 years. the scandal led to the president's impeachment after millions to the streets in protest. parenti. this is bloomberg. investors continue to assess the trump rally that has lifted stocks to record levels. joining us now is jonathan ttlieb.n -- goblet -- among the highest forecast going into the year and that has proven to be accurate. do you think this is going to continue to 2017? i was bullish last year and we have surpassed my target and we have a 2500 target to the end from here.st 10% up the way you play it within the nowet is really different than a year ago. cy
Bloomberg
Nov 10, 2017 12:00pm EST
-market tarsal attractive. ,e got good strength in china that's a huge influence not only in the indexes, but also in terms of fundamentals elsewhere. and you got places like brazil and russia recovering now from recessions. so i would say as long as the risk appetite among global investors stays relatively intact, emerging markets should do ok. they've done a pretty good job, collectively, building up their foreign currency reserves and their sensitivity to dollar-denominated debt is a little less than has been historically. i think we need to give them the benefit of the doubt, as long as the global economy continues to grow. and we think that is going to be the case next year, and for the for seeable future. shery: david joy ameriprise , financial chief market strategist. vonnie: taylor riggs is the first word news. taylor: president trump is in vietnam for the asia-pacific summit, where he is talking tough on trade. the president's out he won't let the u.s. be taken advantage of anymore. an end to cheating and the u.s. will only enter one-on-one trade deals, not multinational
Bloomberg
Dec 7, 2016 12:00pm EST
suing to terminate nearly $6 billion purchase of alere. they delayed filing financial results in china and africa. that was just the start of a slate of bad news regarding bribery investigations. americans are paying apple millions to shelter its overseas profits. apple has become the poster child for multinationals accused of keeping the earnings overseas to avoid paying taxes. the company has legally stashed much of those tax-free in the u.s.. apple withy has paid at least $600 million in interest over the last five years. some power is settling more jobs. cutting 2500ker is employees and losing results in the structuring charts this quarter, 75 million to 125 million next year. that is your business flash update. the pharmaceutical industry feeling under the weather today as donald trump railed against high drug prices in an interview with time magazine. after trumpy surged was elected. here is jerod hopkins. .et's start with this interview donald trump named person of the year. how much detail did he give up pharmaceuticals. >> it was two sentences that said he is going to bring do
Bloomberg
Jun 21, 2017 12:00pm EDT
that. lucky for china, china's initiation into the club puts the world's second-biggest stock market on new footing globally. joining me now is gina martin adams, chief equity strategist. it sounds like it is a major change to lock the emerging market index but what are they really? >> it means a little less than 1% of the index goes on to china. china is already the biggest part of the emerging markets index. a little more than 1% gain starting next year. in chinese shares, i think it needs more information for the long-term investment prospects in china. it gives investors a bigger foray into the mainland domestic mostt where it is formally of china or all of china were securities on the hong kong exchange or traded in the u.s. now it is a little bit more exposure to the chinese economy directly. it is 1% on the msci and it doesn't even happen until next may. vonnie: more to get to come is a let's get through them. why only .7%? what was china hoping for? gina: i don't know what they were hoping for. these are small companies. being added to the emerging markets but they are really
Bloomberg
Jul 5, 2017 2:00pm EDT
chinese audience? -- who are they playing to here? >> you did point at the right markets, china and europe. it's not a big part of the market yet, but the indications are it will be a bigger piece, especially in europe where they really turned against diesel. they know it takes time to change over the factories and car lineups. europe is cracking down on diesel. hybrids enter electrics will play a bigger role. we see demands from the government for more and more pure battery-powered vehicles in china. they are trying to be ready, even if the u.s. is not going down that route as aggressively as we work under the previous and ministration. were under the previous administration. julia: d you think the window for this will be pretty narrow where you have to make the investment -- there's a cost problem here when you are creating a car that can do both. >> there is a cost problem in gasoline that's when gasoline is so cheap. forline has been affordable two or three years and the outlook has been pretty bullish that it will stay cheap and that makes hybrids and electric cars much less at
Bloomberg
Jan 26, 2017 10:00am EST
selection to make sure we deliver a positive view this year. mark: how is china in 2017? sergio: i think it will be very difficult because on the one side, you have the economy bouncing back. eventually, we could say china has hard landed and now it is taking off. you have inflation there but you also have imbalances. ans, i would say upcoming trade negotiation with the u.s., and you don't know what the answer can be, so it could be eventually after a sweep and the next day, you see it is red. the way the u.s. is engaging with x ago because it will eventually be a laboratory for how they engage with china, said this makes the mexican situation very interesting because the u.s. cannot afford not to play hardball. vonnie: are you holding off on mexico until we know more and what about brazil and argentina? sergio: this is what i say, mexico is part of the countries that need to be there. we believe the mexicans are going to find a way to engage with the u.s. on a positive note , but this is an outcome. the road to the outcome might be bumpy. why would we be taking that road when we have ot
Bloomberg
Jun 30, 2017 10:00am EDT
is time for our etf friday segment with julie hyman. china is having a good year in more ways than one, but investors have been apprehensive. here to discuss his latest research report, eric balchunas, senior etf analyst and bloomberg intelligence back with us in the studio. big news with china with the announcement that it was going to include china a shares. how does this play into the etf world? eric balchunas: there are a lot of china's etf's -- i call it alphabet. it is really -- arguably is complicated as the vix area. if you want to get ahead of the msci news -- that means they will include a shares in the margin index, and all totally over five years, 17% of the index will be a shares. how do you buy the stock people benchmark to this index are going to have to buy? we have calculated $4 million to overllion of buy orders the next five years for 222 stocks. the etf and host a more -- it holds the most has an 82% weighting. kba is another stock people like. it tracks the msci index. people have been putting more money into kba. i think those are the two people should look to
Bloomberg
Nov 15, 2016 10:00am EST
is positive for the manufacturers. drive.he fiscal the u.s. is taking the lead. china was in the league close to a year ago. they were able to put together a comprehensive fiscal policy. now this is happening in the u.s. and will have a beneficial effect for the rest of the world. >> currencies, bonds, and stocks. how much further does this have run? important markers is the u.s. dollar. one hundred five against the euro to give an indication. create a basic for stabilization. they have been sold off indiscriminately. i think the emerging market is a group of assets, and all of the bases there. linked to thely trade zone that is china and india. for that reason, we should affect stabilization in the asian market. especially considering the china is behaving. mark: what is the effect for europe? if you look at the comparison, equities are up slightly since .rump was elected bond yields have gone up considerably. you expect the european asset space to continue trading in the coming weeks? >> there is more political risk to come and it is behind in the and this requires a premium fo
Bloomberg
Sep 4, 2017 10:00am EDT
. that is the german ten-year. it is down a basis point, 36 basis points as well. china sent that missile over japan. the yield on the 10 year falls to its lowest level in the yields have changed little over the week. 60july 13, the high was basis points. that was the highest since january 2016. it has come down 17 basis points eyes are on mario draghi the ecb thursday. the last time i checked, the function was up against swiss francs, the swedish currency rising against the yen. cleanospect for a resolution of the north korean tensions looks slim. there is a risk the yen could push back. produce ave could short squeeze her in north korea's missile test did spur a move in the end. it did little to dissuade players betting against the currency, going against the third most popular that across major currency. ugly if thereurn is a shakeup. the currency is on the back of that geopolitical tension. the mostne year after powerful detonation. north korea was preparing for an intercontinental blissful -- missile launched from seoul. speed on the growing tensions between north and south k
Bloomberg
May 26, 2017 2:00pm EDT
bloomberg exclusive. latestcutive on the adventure to boost their footprint in china. this is bloomberg. julia: this is bloomberg markets, i am julia chatterley with scarlet fu. torlet: china is on its way becoming the world's biggest market for package delivery and ups once make sure it has fair share. the company just announced plans to renew their chinese operations through a joint venture. we spoke to them recently on the deal. leadingpresses the china express delivery company. they have done amazing things over the past few years, built up an incredible network, and are absolutely the type of company that we like to partner and network with. >> you have been in china since 1988. why did you feel the need to joint venture with the chinese company to expand your presence there? >> we are always looking what is best -- at what is best for our customers. we are very proud of our operations, but if you take the mutual restraints of the two companies, it just increases the value in the eyes of our customers. so sf holdings has an incredible presence as far as 13,000 access channels too s
Bloomberg
Aug 8, 2017 10:00am EDT
investigating china's practices. releases its earnings while espn continues to be a drag on the bottom line. >> all those questions ahead, but the first question is how the market is doing. >> the answer is not so great. we are seeing all the major averages down. the dow is ending it 10 session s&ping streak after the closed at records yesterday. we are at the end of earnings season here. a lot of retail and we've got that going on today. ralph lauren and michael horn beating estimates. both of them making progress in getting customers to pay full price. earningshe company's lauren estimates, ralph roughly -- for a job ofwas nearly 9% so both of these stocks are soaring and we seeing other retailers do well on the day. on the flip side, we continue to have pain in the hospital industry. numbers missing .stimates its a missions fell the 1.4%. the hospitals have really been struggling. oil prices, we are watching them as well. apparently, there is a work that the iraqi oil minister is heading to saudi arabia. volatilitynt to talk which has been a consistent theme. yesterday the lowest since e
Bloomberg
Feb 10, 2017 12:00pm EST
bloomberg. julie: coming up, president donald trump reaffirms a one china stance on a phone call -- we will have more. this is bloomberg. ♪ ♪ "bloomberg is markets." i am julie hyman. david: and i am david gura. julie: quarter of a percent to a third of a percent gain in the session. all industry groups in the s&p 500 are higher. we have been watching the dollar-yen trade. we had seen strengthening and the u.s. dollar awaiting president trump's meeting with shinzo abe of japan and then the dollar took a leg lower as we got headlines confirming that a trump's tax plan could come in the next two or three weeks. a little curious when we expect the dollar potentially to rally on those types of headlines. yen is dollar versus the little changed. president trump is changing course on taiwan and reaffirming the one china stance. the president spoke with xi jinping over the phone yesterday and said he would respect the policy in place. the move reduced tensions that had been ratcheting up after trump excepted a phone call from taiwan's president after the election. what will this mean for
Bloomberg
Dec 5, 2016 10:00am EST
♪ youe: we are going to take from washington to rome and cover stories out of the u.k., china, and south africa does next hour. italy's prime minister matteo renzi plans to quit after suffering a heavy defeat in his referendum for constitutional reform. we will look at whether a nude stability gives the ecb a new cause to expand this week. mark: the euro shook off earlier losses, equities climbed as contagion was muted. our investors getting better -- are investors getting better at establishing the mood sweeping around the world? julie: concerns china could be named a currency manipulator. about 30 minutes into the trading day and abigail doolittle has the latest. about, globalked markets shaking off the effect of the italian referendum. abigail: we have big gains for the stocks in the usb at the dow, s&p 500, and nasdaq are all higher. offially there was a risk reaction, but really a declining reaction. ,f we go back to the brexit a big selloff, then a selloff and it reversed. the dow on pace for a record closing high. but the dow isng itsace for us fix -- for fifth week i. the s
Bloomberg
Jan 3, 2017 10:00am EST
out of china. 19,891 on the at dow, so short of 20,000 but we continue to watch for that level into the new year. chesapeake getting .75 of 1% and the numbers around the globe on manufacturing, take a look at the bloomberg. a look at the chart globally. at 54 .7, the purple line is the eurozone number, also showing strength in the chinese official pmi is predicted to kick up by a couple of different measures. lending to some of the gains we are seeing in stocks around the globe. also, we have been watching what is going on the commodity groups, specifically with oil prices as we do have these opec cuts taking effect and looks are oman and kuwait enacting the cuts as targeted by opec. andco phillips, exxon halliburton showing strengths. also, the dollar and tenure, showing strength. we are seeing selling in the treasury market, yield up six basis points. last week, you guys were probably on vacation, everyone on holiday but i was here and we saw a reversal last week, so the postelection rally we had seen, the postelection so often treasury, the rally in the dollar, all of that revers
Bloomberg
Sep 5, 2017 12:00pm EDT
joining china in rejecting you asked calls to ratchet of sanctions. -- u.s. calls to ratchet up sanctions. two$23 billion deal between companies is giving rise to an growth.e we are taking a look at the markets halfway through the trading day. andail doolittle is with us looks like stocks are heading steady. abigail: a bit of a decline. the worst day in more than two weeks as geopolitical decisions that julie was talking about is rattling investors to some degree as we see the decline for the small cap is lower now. unlike what will seem more feeling, investors are uncertain about what is happening with north korea. this is intraday chart in the bloomberg, a six-day chart. last week, we had a north korea missile fly over japan and the dow have fallen but today on that day, it turned even and we see it had been climbing higher through the week. thoseors are looking past geopolitical decisions but we see the big drop for the dow on pace for the worst a day since the middle of august. david over and mainstay capital who has been good in terms of bullish and saying the market is abl
Bloomberg
Jul 19, 2017 2:00pm EDT
will do trade talks about the u.s. and china. from new york, this is bloomberg. ♪ >> it is 3:00 p.m. in new york. i'm julie hyman. scarlet: i'm scarlet fu. welcome to bloomberg markets. ♪ and bloomberg world headquarters in new york in the next hour. in politics, the trump administration off to a rocky start in china. they lashed out against the trade imbalance. your policymakers looking for more clarity for mario draghi. more from the checkmate -- the chipmaker after the bell. let's get a check on markets. >> we have records from the s&p 500 and the nasdaq. now nine days in a row. record highs second is -- for the second day in a row. shares are down sharply. this is an interesting way to look at it. it is a one-year chart. the blue lines represent record highs. we have had tons of simultaneous record highs for the major averages. today the dow is not hitting a record high. >> take a look at what is happening sector was for the s&p 500. way to see what is happening. energy, let's take a look at what is happening with oil trading higher on the day up 1.6% after a bullish departmen
Bloomberg
Apr 17, 2017 12:00pm EDT
president mike pence encouraging china to take action against north korea hile he met with troops. this come after the north korean failed missile test. and the vice president saying they will act without china if necessary. and reports. the company may find it tough to build on last year's record adds. so we are halfway into this trading day after that holiday shortened week. taylor riggs joins us. taylor: you have the dow at one point up, 115 points. coming off the highs just a little bit there but still nonetheless a green day. reversing three days of decline we saw. the nasdaq was leading the way. up .6% coming down a little bit. still we'll take it nonetheless. i want to switch over to things that is our not so good news. not everything is good news. we are taking a look at the hospitals. h.c.a. holdings is the biggest u.s. for-profit hospital operator in the u.s. they reported first quarter revenue and earnings per share. that missed estimates. that's taking a drag down on the bloomberg intelligence north america hospitals index. that index was down about 3.5% in the last tw
Bloomberg
Jul 5, 2017 10:00am EDT
were defense drills held. president trump has expressed frustration with china the four heading on a trip to europe. he tweeted, trade between china and north korea grew almost 40% in the first quarter. so much with china working with us, that we have to give it a try and quick. the european union and japan of reach an agreement on a new trade deal. it is set to cover commerce between the two sides. japan's prime minister and european council president will shake hands on the agreement tomorrow. russia wants to speak to the current opec deal and would oppose proposals to four russian government officials. one says more cutbacks so soon after the existing deal was extended would send the wrong message to the oil markets. opec ministers meet later this month. s&global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am emma chandra. this is bloomberg. vonnie: thank you. p.m. eastern time today, the june meeting will be published. investors will keep an eye on signs regarding balance sheet reductions and looking for clues on whether m
Bloomberg
Apr 13, 2017 10:00am EDT
. we've seen the market reaction. after you backed off on being -- china being a currency manipulator. he is backed off on china, interest rates, janet yellen, nafta, chinese goods -- i mean, the list is endless. that is in 48 hours. if you are a core supporter in one of his rust belt states, which one of those bothers you the most? >> great question. congress is in a two week recess. we have had reports he is contentious and town halls. one thing that will hurt him more than anything, the sentiment is a administration has not been as successful as he projected. andfailure on repeal replace obamacare is first on the list. that is not because so many of many are onters -- obamacare plants -- it is a lingering sense of failure in terms of this it administration getting anything out of the starting blocks to justify that vote. where is the feedback? where is the tax reform? where am i feeling that in my paycheck? where are the reforms that are going to help me, my family, my farming, my job skills, my training, the fact i am sending kids through college? it won't be the one missing polic
Bloomberg
Apr 7, 2017 10:00am EDT
beyond a dollar today. 0.91.elow that at vonnie: shortly after president trump dined with china's president xi jinping at mar-a-lago less night, the u.s. launched 59 missiles against a syrian air base. a reversal or trump who previously warned against involvement in the syrian war. here's what the president said. it is in themp: vital national security interests of the united states to prevent and deter the spread and use of deadly chemical weapons. there can be no dispute that chemicald banned weapons, violated its obligations under the chemical weapons convention and ignored the urging of the u.n. security council. vonnie: the u.s. strike on syria was condemned by a vladimir ofin who supports the regime assad. henryre, we are joined by meyer in moscow. what position does this put put in in? does he look week if he doesn't do more to prop up assad? >> of course, russia is in a difficult position now. assad managed to support fairly successfullyad -- assad fairly successfully. started a bombing campaign and now, there's a political process underway. russia had been hoping to rule.
Bloomberg
Jan 17, 2017 10:00am EST
china. mark: let's look at what is happening in european equities. two words -- theresa may. european stocks little changed. down by roughly one 20th over the financial services utilities. let's show off the wcrs function. this is sterling. currency in major the world is declining against the pound. theresa may, u.k. prime minister, said mp's would get a final vote on the brexit deal. she pledged to pull britain out of the european single market. she said staying in parts of the customs unit is preferred. she aims to avoid a cliff edge. she wants transitional arrangements for financial services and no more huge contributions to the e.u. budget. we are leaving the e.u., not europe, she said. what a day to use our wonderful wcrs function. the big mover i want to talk about -- sterling-dollar. biggest intraday move for the pad against the dollar since 2008. shows the one-day percentage moves. we have risen as much as 2.5%. the biggest move since 2000. yesterday, we fell 1.1%. close sinceowest 1985, yesterday. day after brexit, when sterling fell against the dollar most it percent. the pa
Bloomberg
Jun 6, 2017 2:00pm EDT
stork highs, whether it's demographics, the end of china's industrialization phase, whether it's shaler and gas, permanentlyk will suppress oil prices -- whether it is technology innovation, automation -- these are all secular shifts in the retail sector. inflation,gging on causing inflation -- to effectively -- we below historic norms. a think that that is part of a complacency. the data is -- inflation is into hot, not too cold either. that's a good setup for equity markets in general. >> lawrence taylor, thank you so much for joining us. we will have more in markets tomorrow with the fund -- bill gross. you can catch that in the three possession of you: 30 a.m. and is part of our bloomberg invest summit taking place here in new york. onto washington. president trump begins infrastructure push yesterday with a plan to modernize and protest they are traffic control system. the three clock p.m. he will pivot to the prairies and a white house meeting, with republican leaders of the house and senate. comey cloud -- looms large as the fired if the i.t. -- chief prepares to make it anticipa
Bloomberg
Nov 23, 2016 12:00pm EST
business dealings in the philippines and his relationship with state owned banks in china. stephanie baker, definitely read this story. we follow it with great interest. you can read that article in the current issue of bloomberg businessweek. david: expectation of barclays -- michael pond is next. this is bloomberg. ♪ david: federal reserve policymakers are largely expected to raise rates at the next meeting. the inflation target is 2%. we asked a michael pond what the market is looking for in terms of inflation. michael: inflation, as priced by the markets, is fairly low. it is higher than where it was around the summer, around 1.5%, but still well below a normal 2.3% or 2.4%. vonnie: how quickly can market expectations of inflation the common inflation? risen 20they have basis points in the past couple of weeks so that could put upward pressure on inflation. we have already seen inflation go up. been belowlation had 2%, and now it is above 2% and it has been for most of this year. we think it accelerates further on continued wage gains, as the labor market tightens further. even
Bloomberg
May 5, 2017 10:00am EDT
dynamic that we have seen, and the worries about china, which are always there, fold right back to a central-bank discussion on the united states of america or maybe it is not the temper tantrum, but an oil tantrum. is that what we are seeing if we see a more restricted fed? bill: you mentioned china. china, year ago, jumped up credit to a 20% type of annual rate integrated global growth more than expected. now, they tend to be tightening the rains, but nobody really knows about the shadow banking system in china, let alone the shadow banking system and the united states. i have a sense though that credit is being restricted. that their short-term rate has moved up 200 to 300 basis points. semi for difference on a global basis, that is why you are seeing oil prices and other commodity prices come down by 5%, 10%, and sometimes, 50% because china -- and sometimes 15% because china is a growth and credit creator. mark: bill gross, fund manager at janus capital. in 20ohn is joining us minutes time. vonnie: it is time to check in on first word news with taylor riggs. taylor: several repu
Bloomberg
Mar 31, 2017 12:00pm EDT
could probably take four years or more. i am not really sure where we go. if they go at china first and then mexico, the big trading partners, we could have a scare in e.m. jon in an: is that enough to be bearish? stephen: a little bit more cautious and we will see what comes out later today. onathan: brian rehlin, stephen caprio and cathy joens, thank you so much. sucked up by the market but cracks starting to show in the margin. this is bloomberg. you are watching "real yield." jonathan: i'm jonathan ferro from new york city. this is "bloomberg real yield." what it has been for issuance. the busiest first quarter for debt sales since 1999. u.s. investment firms push it to more than $415 billion. that surpasses the previous record at $381 back from 2009. over in europe, syndicated primary issuance was active every single business day of the quarter. issuance volume is poised to ach almost 446 billion euros and you have to wonder whether there is pushback. they are trying to lift the offer from 8% to 10%. i want to bring back a roundtable. brian, kathy and stephen. kathy, we had thi
Bloomberg
May 31, 2017 2:00pm EDT
reinvest in assets that have more of an upside. for example, look at emerging markets outside of china. whatever assets can get there. fedher area is as the starts to unwind its balance sheet, they predicted longer-term treasuries. rates will go up. that might be an area to look at down the road when rates go up to invest and capture higher returns. scarlet: for the next three to five years they should build up cash. pimco puts out this outlook every year. but was its advice last year and how did it play out? john: last year was very similar. they were like watch out for china, watch out for europe, watch out for populism. and thought markets were asset prices were already inflated. since then, since trump's election, the s&p 500 is up 13%. they are like even more assets are overpriced. that is where they were wrong and they were surprised at how will stocks have done and continue to do. the other point pimco is making his they believe central banks are driving without a fed tire. about balanceng sheet retractions, raising rates. they don't have the policy firepower if they need to pre
Bloomberg
Sep 29, 2017 2:00pm EDT
in november. the white house announced today the president will visit japan, south korea, china, vietnam, and the philippines. it will be president trump's first visit to the region as president, and it comes among rising tensions with north korea. they hope this will "stand then the international resolve to confront the north korean threat." president trump in his treasury secretary steven mnuchin reportedly met with uber institution fellow cabinet -- isin marsh -- warsh, who being flagged as someone to replace janet yellen as fed chair. >> the core pce, the fed's preferred measure of inflation, is a very bad proxy or the underlying strength in the economy. it is not a perfect proxy for policy should be, or for the broad case of financial stability. last he also suggested year that the fed needs "new air and new ideas." it is said that the fed chair is still an open race. your european union originals -- european union officials have ruled out interfering between spanish officials and cattle on officials before the upcoming upper run them -- referendum. alanlog officials --cat
Bloomberg
Oct 19, 2016 10:00am EDT
: halliburton swings to a profit as oil producers start ramping up operations. mark: and china's growing debt, could it be a threat to the global economy? matt: it will take the u.k. more than two years to get a new trade deal with the european union, according to a new bloomberg survey of economists. a fourth of those surveyed say a trade agreement will take more than five years. the u.k. hasn't yet activated article 50 in the lisbon treaty, which would give the country two years to leave the e.u. bloomberg spokes with deutsche bank's global head of f.x. >> the pound could go into a free-fall, as it were, and we could actually see, you know, rates really picking up quite sharply given the inflation repercussions. i think we have seen for the bank of england take a fairly sanguine view. they said we'll take this inflation here on the chin as sort of a one-off. and, you know, i don't think the selloff in the market is going to be too acute. mark: halliburton posted a surprise profit in the third quarter. the company picked up business from oil producers that are starting to ramp up operat
Bloomberg
Jun 20, 2017 10:00am EDT
the united states reduces its trade barriers. goldendoes this opportunity for progress with china? the trump administration is negotiating a series of agreements with china. they want to focus on services, particularly financial services. is there an opportunity there on financial services? sure it willi am be valuable to continue the discussions of opening. frankly, i think the prism through which we view trade agreements should be u.s. jobs in u.s. incomes. my sense is that much of what people talk about when they talk about financial services trade is basically businesses that may be headquartered in the united states doing more business in china, with chinese nationals, as their employees. i am not sure how much that really contributes to the u.s. economy. i am all for our succeeding but as i look for negotiating priorities, i would look for issues that are going to go to the bottom line for the american middle class. i would be skeptical that financial services would be at the top of the list. david: larry, thank you so much. that is larry summers, thank you for all of your t
Bloomberg
Apr 19, 2017 10:00am EDT
interest. china policies president wants to revise china's anchored -- ancient silk road with a network of infrastructure. find out how it today's his quick date -- quick take. >> that means a spurring trade along the 2000 euros routes along a network of railways, pipelines, and highways. supposed to boost development and deepen economic ties across asia. critics see it as a way for china to spread its influence further west. the original road was a trade route in china as far as europe. -- cal plan include the also known as the one wrote initiative, the chinese government created the $40 billion silk road fund. she has said more than 30 countries signed formal agreements with china in 20 more were cooperating on plants such as railways and nuclear power. ineal for a rail project thailand fell through because according to thailand, there were strings attached. china demand commercial property rights. china says the silk road initiative is a way to boost industrialization in the developing nation's sandwiched between east and west. economists agree the initiative has the potentia
Bloomberg
Dec 13, 2016 10:00am EST
beginning of the year when there were china concerns. bank stocks reached a january high last thursday after jumping 46% since july's almost five year low. let's talk about big data today that came out of china. it had a ripple effect across the rest of the world. the stabilization seems to be holding, offering policy makers time to switch from stimulus word curbing financial risk. industrial production climbed 6.2% versus a year earlier in november ahead of estimates. that is the blue line. the white line is retail sales, climbing as well, 10.8% last month, the biggest gain since december. investment increased 8.3% in the first 11 months of the year. the economy, the world's second-biggest, showing signs of stabilization. vonnie: thanks. president-elect donald trump has picked exxon mobil ceo rex tillerson to be secretary of state. a wide variety of reaction. isdoleezza rice says the ceo an excellent choice for the job. republican senator of florida says he has serious concerns about rex tillerson's ties to russia. we are joined from trump tower , withn manhattan endorsements of the l
Bloomberg
Apr 17, 2017 10:00am EDT
because of irregularities. in asia, questions are being raised over how much influence china has over kim jong-un. north korea snubbed the top chinese diplomats this month as tensions mounted with the u.s.. they ignored a top envoy for the korean affairs. the corruption trial for south korea's corruption -- south korea's indicted president. she is accused of co-version and leaking state secrets and has been in jail since last month. the cancer was also indicted in giving $6 million of rides. bribes. france has upped the security for the french presidential election. before the intelligence services have picked up on an imminent threat. france has been under a state of emergency in november 2015. global news, 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. quinn.nnie this is bloomberg. julie: coming up, trading today around $53 a barrel. finally giving opec greater credence? this is bloomberg. ♪ vonnie: this is "bloomberg markets." the futures and focus. wti is bouncing around today. joining us from the cme to discuss this further is philip
Bloomberg
Apr 10, 2017 12:00pm EDT
bloomberg markets. i am julie hyman. ford has big ambitions in china for new growth. tom mackenzie asks the ceo in shanghai about those plans and the meeting between president trump and china's president she. >> when you have those for leaders who meet face-to-face, they become people to each other. , i think,at basis reading the reports from the meetings, that is a very firm foundation to then go off and toe concrete advances strengthening the ties between the countries. enormous, mutual ties between the two countries from a trade standpoint. we have to tread carefully on that because the economic relationship is the basis of the overall relationship. i am glad to see both leaders meeting early on. >> for many people's perspective, there is one area where china could really make sense to try to level the playing field, whether that is the joint ventures or the tariffs. is that something you think is possible now? >> china is a very important market and tangible reforms and openings are needed because the thing there is, how do you make sure you decreased policy uncertainty, boost
Bloomberg
Jun 23, 2017 10:00am EDT
china shares, for example, and with stories bubbling up like venezuela, which is getting worse now, either emerging markets and frontier markets that investors may be should be getting more interested in? katie: we have been overweighted in emerging equities, but at northern trust, we take a diversified approach. vonnie: sure, that is china looking more attractive? katie: we have been long china, as with emerging markets. we believe these are markets that have levered their high data growth, but it want to get back to diversification because what is interesting about emerging markets is it is never the market you think that will perform that does. 2016 asook at brazil in a great example that ended up being one of the best-performing markets out there, so emerging markets can be tricky for investors. we suggest you have to be there probably and take advantage of the markets doing well when they are doing well. nejra: the more you play, the are you get i guess. katie: exactly. [laughter] vonnie: katie nixon, thank you. coming up on bloomberg's real managing over manchurian dollars. e
Bloomberg
Jun 9, 2017 12:30pm EDT
. china is risky. other emerging markets dependent on oriole are risky. alex dryden: they're always risks. china is a concern. -- other emerging markets dependent on oil are risky. alex dryden: it is at the forefront within the region which is why we do not the it bubbling at this time. maybe something tell watch in 2018 and 2019, markets are comfortable. vonnie: as far as jpmorgan goals, what are the best spot -- goes, what are the best spots to the? are dryden: we think there plenty of upside and the international equity space. europe is one area we would be looking at. political class beginning to clear. fundamental recovery in the region. eurozone pmi at 57. vonnie: were specifically? alex dryden: the euro denominated area outside of switzerland and the u.k., actual europe and the eurozone. seee are the areas we will the most upside and the most room to run, unemployment rate is very high. vonnie: what you looking at? indexes? alex dryden: jpmorgan, we are looking at the stock picking environment. areas we like, financials, for example. high yields and assess potentially as the
Bloomberg
Mar 28, 2017 2:00pm EDT
still true a bit. the real strength is in the caribbean and alaska. markets inding new cuba and china and there's a broader trend here and that is people are still traveling despite of the terrorism. you see it in las vegas and in orlando -- americans have disposable income and they are willing to spend it. some of these consumer focus companies and a fit when americans have more cash in their pockets. how do we suss out what is particular to carnival and what they do right as a company and whether there is a benefit of a growing economy in the u.s.? one of the things that they have done is they have for tv shows. have a new one that's all about a bartender traveling around the world making drinks, so it's a subtle promotion of cruising. that is certainly working for them. i think we see a bigger trend in the industry. there was a focus on waterslides and zip lines and other schist a refocus on the customer experience, rolling out wristbands that will allow you to open your hotel room and order drinks quickly. royal caribbean is doing away with traditional balconies and making the cab
Bloomberg
Sep 14, 2017 12:00pm EDT
mortar shops do you see in china in five years? daniel: i would say all the benese retail formats will upgraded, or even redefined. baby.k one is our our purpose is not to develop brick and mortar chains. again, we want to incubate successful models, then use our technology and the operating know-how to empower our off-line partner. everybody has a big chance to go digital, but people need to change. i think the most important thing is to embrace the change. steve: how efficient is the the just ask system in china? i know it is the world's largest parcel delivery system in the world, if you will, but you do not control 100% your logistics and supply chain. daniel: logistics is very important, being a whole consumer experience. a do not want to build up system for the merchants. instead, what we look at is, how do we upgrade the existing with just ask system? the chains have been there for many years. they have been there for many years. today, with this digital transformation, it is not to build up a new world and say, this is the logistics for e-commerce, this is the logistic for all
Bloomberg
Jul 17, 2017 2:00pm EDT
japan ceo. start with china gdp. we talk about a second quarter expansion. what does that mean for their priorities? as well as effort to reduce leverage and debt in the financial system. >> credit where credit is due. this is a soft landing. this is what the communist party wanted to engineer. it's a wonderful pace because it allows for the unemployment rate to be stable, allows for corporate profitability to rise and for the chinese economy to go, really in terms of economic leadership for china it is 10 for 10. does it remove the possibility of a hard landing? >> there is always the risk that some unforeseen event is going to jolt the picture. adjustment, when you look at the sectoral in balance with high debt, particularly to the property sector, that right off, that adjustment is going well. 7%,n economy is growing at they are really not a problem. you can swap them out of the system. >> this meeting discussing regulations and regulatory powers. around 4% as an example. language, greater accountability. be a dereliction of duty if regulators dispose of this in a timely manner. thoug
Bloomberg
Jul 6, 2017 10:00am EDT
that exist now between the u.s. and the eu and china, things like climate change. vonnie: john, what do the respective leaders want to gain at the g-20? xi has had a lot of different things to deal with, including testhis ballistic missile from north korea. he has to think about having deals with something like that. what will you decide to do? xi is ansident interesting one. >> what the chinese may decide to do to essentially make the point to the u.s. president that if you want to deal with north korea, you will have to deal with it yourself. yes, we, the chinese are happy to help on the sidelines, but if you want to address this issue head-on, he will have to sit down with north korea and negotiate. for a long while, the u.s. president and administration has not wanted to do that. interesting, to remember that bloomberg interviewed with trump a couple of months ago and he said he would be prepared to sit down with kim. i weekly are along with that. what xi would try to do is press this idea on him. we, the chinese, cannot do this alone and if you want to fix the north korea nuclear p
Bloomberg
Jul 21, 2017 10:00am EDT
? we are not seeing healthy enough growth in europe or china. i think the continued growth in the united states is an important factor. if you look back across the per iod of growth since the financial crisis, this is a pretty strong time because you have growth in china, growth in europe and growth in united states. that's a pretty strong global backdrop got a time when there is earnings growth and monetary stimulus. vonnie: when you look at what might pose a wished to the equity rally, how closely are you watching wage growth? it's not because of its impact also labor unit cost which could have an impact on corporate earnings. that many the factor academics and market participants continue to watch closely for the reasons you cited. probability of inflation spiking but and inflation spike would be a game changer cause it would impact all of those things i talked about, central-bank policy, earnings, and perhaps global growth. in terms of the bondionship between the and equity market, when you look at the 10 year treasury yield yield and year bund expectations for how high that n
Bloomberg
Aug 30, 2017 10:00am EDT
. and the impact on the oil market. and the next step for ages biggest economy as china's yuan strengthens. and how is china dealing with all the back-and-forth rhetoric regarding north korea? and then company news, apple's grand plans for the upcoming iphone. ditching the home button, could it lead to a wave of new sales or scare customers away? muchf that to come and more, but we are about 30 minutes into the trading day. abigail doolittle is here, with a mixed direction for the session so far. certainly the dow in the s&p 500, fractionally lower, the s&p 500 fractionally higher, but the nasdaq being helped by technology and not seeing the drag from energy the other indexes are seeing more so. let's take a look at that. oil on the day along with a few energy movers. 1%,is down about 1%, almost down for a third day in a row. this reflect hurricane harvey, and in the wake of the storm that many of the refineries in texas have in-kind. there is less demand for crude. that is weighing on the price turn weighing on some of the other names. this is an interesting dynamic to take a
Bloomberg
Dec 5, 2016 12:00pm EST
italy after a referendum there. china overp takes on the weekend saying he won't be told who he should talk to or who we shouldn't. amid concerns china could be named a currency manipulator. a restaurant tour tells us about his new show on vice network's munchies channel. d nes wh first world -- news with courtney collins for the courtney: authorities now say 36 people have died in a fire. they expect to find more bodies in the building. the cause remains unknown. it is the deadliest u.s. fire in more than a decade. a judge ordered a hand count of michigan's presidential results to begin today. the results the recount could be finished ahead of the deadline. jill stein spoke about the effort outside trump towers in europe city. >> that it's our first and foremost intention is to verify the photometric we have an accurate and secure and fair voting system. whether it will change the outcome we don't know. i think it would be unfair to raise expectations that the outcome is going to change. that is not our intent. a recount is underway in wisconsin and the green party is trying to get a
Bloomberg
Aug 3, 2017 2:00pm EDT
manager seeing opportunities in stretched evaluations. politics, china trying to con trade tensions with the u.s.. a diplomatic measures are not stopping the nation gearing up to fight back. closing down his main hedge fund after suffering from big losses in the first half of the year. u.s. get straight to markets that close in two hours. julie hyman building on the record high? julie: only for the dow. we see this divergence between the dow and the other major averages. the s&p and the nasdaq are failing to re-attain their record highs. this continues to be the pattern we've been watching. the major averages have been pretty steady throughout the day. the focus is on individual stocks versus mass growth trends but that may change tomorrow with the jobs report. let's look to some of the big movers we are watching here on the earnings front. take two interactive one of the out performers today, that company gaining after profits were better than estimated because of grand theft auto, the latest iteration of the shooting and racing game that saw strong demand. 3-d systems missing esti
Bloomberg
Aug 1, 2017 2:00pm EDT
, china for the situation but added that china can influence north korea as no one else can. a coalition of 16 state attorneys general led by eric schmidt are men of new york has filed a lawsuit charging the federal environmental protection agency with illegally stalling the designation of areas impacted by unhealthy levels of ground-level ozone. the coalition is challenging scott pruitt's one-year delay, saying that it violates the requirements of the clean air act. chuck minority leader schumer is accusing president trump of "petty and childish behavior" after the president continued threats to stop federal payments that help millions afford health coverage. which insurers used to lower out-of-pocket cost for low income customers totals $7 billion this year. lastly, the president tweeted if did improve the health care bill that the bailouts would end very soon. company has begun micro-chipping employees so they can log onto computers and buy snacks by waving their hands. three square market held a chip party today for employees to have a microchip embedded in their hand. the
Bloomberg
Aug 10, 2017 2:00pm EDT
know china is also another area where they can monetize going forward. mr. lee: china is very interesting, right? we saw the chinese consumer having increased demand for foreign products today. kind of an interesting situation where, for the first time, amazon has a competitive advantage. they have global selection scale. do lead in product selections. this point, at china e-commerce is very significant at 450 billion dollars per year. cross-border trade selling and the china gets about 20% of the market share. amazon gets 20% of the first quarter market share. 10%,ve the upside of about around 2019. you said about alibaba and the likes of jd.com, why can't they absorb it? and what about the regulators? the chinese government going we don't want amazon to be bigger in the country them a are? -- than they are? is managing transition from an export economy to a consumer driven economy. have demandr habits for certain products, governments focus is more on driving consumer demand to drive the economy more so than have it protect the policy against foreign companies. thinking abou
Bloomberg
Oct 12, 2017 2:00pm EDT
countries. i'm mark crumpton. this is bloomberg. julia: thanks so much. coming up, china holding its communist party congress next week. this is an incredibly important gathering that happens only twice a decade. what agenda will be chinese leadership center to their economy and what will this mean for markets? we will explore next. this is bloomberg. ♪ ♪ this is "bloomberg markets." i'm julie chatterley. scarlet: it's time for the sector spider report. shares are under pressure today. halfan see they are down of 1%. the worst performer of the hour. julie hyman has more. julie: we have to look at the xl why is down .5%. it has paced gains in the market for the year today. it has been a consistent performer. it is not trading that much below its record high. nonetheless, today it is taking a hit. it is a broad-based selloff when you look at the declines. a lot of it has to do with the media companies within this index after forecast from at&t that it will lose video subscribers. that is pressuring dish and comcast. we are seeing a decline in retail today. signet jewelers which has
Bloomberg
Feb 23, 2017 12:00pm EST
warning that china's huge steel industry is shrinking. production and demand will drop every year through 2020. china accounts for half of the world's steel production. a drop in output would have an impact on iron ore miners. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. vonnie: thanks for that. still ahead, we are awaiting comment by u.s. secretary of state rex tillerson and his mexico counterpart. they are at the ministry of foreign affairs in mexico city. you see the podium. we will take that live, next. this is bloomberg. ♪ vonnie: breaking news. not worth the $2 trillion that saudi arabia said it was potentially. analysts and investors telling bloomberg that their analysis based on oil reserves and cash flow and projections under different tack scenarios suggests aramco is worth no more than a fifth of that amount. it big setback for saudi arabia. 100 billion -- it is the fastest-growing form of cyber crime. one company seeks to challenge phone fraud and it has a big investor
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