the u.s. late market trading, we did see the sentiment recovery as president trump said he recently spoke to chinese president xi jinping. the s&p 500 fell three chance of 1%. the nasdaq down a quarter of a percent. interesting to see small caps outperformed large-cap sweet the dollar held near a two month high. u.s. futures gaining 1/10 of 1%. let's see how we are setting up for the asian open. paul: new zealand has been trading for a couple of minutes now. not a lot of action across the terminal at the moment. the index looking kind of flat. futures out of australia also looking at little weak. the ask hit a record high on tuesday. we do have second quarter cpi numbers out of australia later on. a data heavy day. nikkei futures higher by 1/5 of 1%. keep an eye on -- it slide tuesday afternoon on news of bad loans. mitsubishi, ufj reporting todayk, futures a little weaker as well. samsung is a big one we are watching out for. we will also have korea and doctoral production numbers -- industri

he u.s. pulled out last year. iran has reached low-level limits. and is moving toward weapons grade material soon. >> we will take the next step. if you want to express regret, do it now. our advice to europe and the u.s. is to go back to the negotiating table. to respecting the resolutions of the un security council. all of us can abide by the nuclear deal. >> global meadows, 24 hours a day -- news, 24 hours a day. this is bloomberg. >> u.s. and chinese officials set to resume trade talks in the coming weeks. >> i don't know precisely when. they are on the phone. schedulinge face-to-face meetings. lots of communications. china's bring in our correspondent selina wang. what is the significance of this? what do we know? >> it provides detail how the countries are going to proceed with talks. sayingy upbeat tone, this is not actually trade war this is just a dispute both countries have. thoughing said, even trump and xi did reach this sort key differences do remain including the enforcement mea

u.s. liquefied natural gas as well as the competitive outlook for elegy. america natural gas production has literally change the game, we say that a lot around here about that, but, it has been a game changer. our production has started to the levels that many never even thought possible a decade ago. this in turn is boosting our economy as well as our national security. it is providing a long-term low- cost low emissions source of energy for our manufacturers and residential consumers alike. we have such a massive resource base and that we can send substantial values abroad. we are now leading the world and natural gas production, hopefully soon we will also lead in exports. mobile demand for lng, we know is increasing. more u.s. lng export facilities are coming online and more of our friends and allies around the world are building import facilities. for the first time since the 1950s we are now a net exporter of this abundant resource and our production is driving the formation of a glo

the u.s. china trade talks. the boj expected to downgrade some projections as well as lower inflation forecasts. pmi datapanese flash and earning seasons taking off in earnest with names reporting in south korea. of updates from aussie companies. 64.4.lia's flash pmi, >> think you very much. let's check in the first word news. on the first word news. >> the u.s. justice department looking at whether companies are harming competition. they will express -- address concerns people have expressed about social media and online retailers. it is the latest sign of official scrutiny by washington. facebook and google parent alphabet fell. warningbusiness is incoming prime minister boris johnson he must avoid leaving the european union without a deal. he will enter 10 downing street reiterating his pledge to leave by the end of october,, whether october, whether or not a deal is in place. >> today at this pivotable in our history, we have to reconcile two sets of instincts. between the desire for frien

the u.s. edging lower here. it is up about .6%. david: you don't see it here, we may talk about it today. beef imports in china are reaching a record after what has been happening with the african swine flu. a top story is the imf. lowering its global growth the of and the expected u.s./china trade talks. hays,g us now is kathleen our global economics and policy editor out of new york, and air china correspondent and coanchor, tom mackenzie in beijing. to the according sources, we hear lighthizer is headed to shanghai for head to head trade talks. what can we expect this time around? tom: they have been having phone calls, at least 2 sets of phone calls that have led up to the meeting we are expecting. face-to-face meeting in shanghai between monday and wednesday. from the u.s. side, it will be led by robert lighthizer. as you mentioned on the chinese side, the commerce minister, something of a hardliner when it comes to trade talks. we are not expecting any major breakthroughs. that has been

the u.s. says it's working to form a military coalition to protect shipping waters off the coast of iran and yemen. hello i'm daryn jordan this is live from doha also coming up a diplomatic route between the u.k. and the u.s. continues president from calls the british prime minister foolish and labels ambassador stupid. china demands the u.s. immediately counsellor $2200000000.00 sale to taiwan. on the internet finally get switched back on in savannah month after the military crackdown that killed more than $100.00 people. the u.s. says it's attempting to form a military coalition to protect shipping off the coast of iran and yemen the trumpet ministration has blamed terror and on its proxies for several attacks on tankers in the gulf in the past few months a 5th of the world's oil is traded through the area only a commander in iran has revolutionary guard issued a new threat against u.s. bases and aircraft carriers stationed in the region saying they'd be destroyed if they made a mistake you

in u.s. business, equities and rates will be heavily affected, but the cuts are likely to extend beyond that. corporate finance could be a target, and more parts of fixed income trading. sewing is a big fan of action bank, so that may be a part that it is sort of exempted from those cuts. anna: thanks very much. let's get back to our guests, ghadir cooper from barings and john stoltz swiss from oppenheimer -- and john stoltzfus from oppenheimer. in general, european banks pulling away from u.s. operations you see as a trend. ghadir: i think what we haven't seen in the u.s. -- i'm sorry, what we saw in the u.s. after the financial crisis, the banks to be able tolves compete going forward, they have been able to get themselves into a footing where they can go and do business in a way that gets them the right outlook knowing forward on return on equity. bank try a lote of things before they got to this thing. anna: under a lot of ceos. ghadir: that is also true. they try to do something now that

keeping u.s. semiconductors and other equipment maker's at the forefront of the industry is really a big, a bigger national security issue than penalizing huawei. that is generally the argument that the chipmakers are making. emily: are these tech ceos asking for the ban to be lifted on all products, that the u.s. sends to huawei, or only particular supplies? i understand there has been differentiation between consumer products like computers and smartphones, and products that would be used to make huawei's 5g the quit. -- equipment. tom: the trump administration has made this delineation between products that it continues -- considers a national security threat compared with products that aren't in that category. we haven't heard from the semiconductor industry, exactly how they are making that distinction. the sense is they want to have a great deal of freedom and what they sell to huawei. they are saying a lot of what they do does not cause it to a national security threat. paul: bloomberg tech

u.s. regulatory scrutiny in congress being felt across the market as tech stocks underperformed in today's session with the s&p 500 now holding the five-day rally. we had president trump's comments on tariffs dampening sentiments as well. tech giants took a hit. we had energy producers leading some of those declines as we continue to see the selloff in oil markets. we had u.s. bank earnings. they little bit mixed. goldman sachs managed to jump after beating the unit. we had some strong data out of the u.s. when it came to retail sales. that sent yields higher but at the same time, chair powell speaking in france about taking appropriate measures to deal with the economy. that led to the yield level being paired back a little bit. u.s. futures not doing much at the moment but let's see how we are setting up for the session in asia. sophie: midweek in asia, futures are pointing lower in sydney, seoul, and tokyo. a two-day decline. datadney, miners with the on tap and iron ore prices at a fiv

the u.s. threatening the german concept of for example south korea japan while the u.s. wants everyone to join it's at the end of the day against china. you know this is a very important issue at the moment you know there is always a strong rhetoric coming from the u.s. in the person of donald trump but we have the world the traits trading system has changed we have global value chains companies can shift profits from one country to the other and then we have china as a very specific big global player with a state owned companies where competition is not really an issue so the europeans and the u.s. have to cooperate stronger in light of the state owned companies from china taxation is only one issue just to mention other issues like individual freedom security of data it is not very constructive sustainable if europe if if the u.s. takes steps individually having china with a completely different trading system and not basically compatible in the long run with a competition oriented trading system and we haven't even mentioned china's tech behemoths weiwei. absolutely i

the u.s. wants china to buy more farm goods, china wants the u.s. to ease restrictions on wall way -- on huawei. and germany, chancellor angela merkel so she has been feeling good and plans to serve out her term. there has been concerns about her health. she has been seeing trembling at public events. in california, oil producers are bracing for a crackdown on drilling. kevin newsom has fired the cheap right -- the chief regulator. mexican drug lord known as el chapo has banished from his jail cell in manhattan and no one is saying where he is two days after he has been given a life sentence. his lawyers say they do not know. the marshals service will only say he is in custody. he is likely to end up at a super max prison in colorado. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am courtney donohoe. this is bloomberg. vonnie: thanks, courtney. shares of software provider my dalia are searching on their first day of trading. joining us live from the new york sto

u.s. politicians vote overwhelmingly for a bill that would sanction those responsible for the murder of saudi journalist tamara shoji plus. i've been vilified. alleged to be. the killing of. corrupt. former south african president jacob zuma denies corruption allegations against him and says he's a victim of conspiracy. at 1st for democratic u.s. congresswoman have responded sharply to attacks by president donald trump on their patriotism and citizenship they are among the highest profile members of the new house of representatives or for reacted strongly to trump's tweets comments. as we all know the recent tweets and words from the president are simply a continuation of his racist is you know phobic playbook we cannot allow these hateful actions by the president to distract us from the critical work to hold this administration accountable to the inhumane conditions at the border that is separating children from their loved ones and caging them up in the legal horrific conditions. well tr

in the long-term, this is very detrimental to the u.s. text. -- u.s. tech sector. u.s. companies have to think in three month increments. inna is a country thinks three year, 10 year national plans. i think that is a challenge we and as silicon valley, technology sector. emily: we will talk about this little bit later in the show. bloombergs max chafkin, thank you. ventures, youue are staying with us. elon musk can't stay off of twitter. what he is tweeting about now in terms of production numbers, next. this is bloomberg. ♪ tweet abouton musk tesla production, he says he plans to produce 1000 solar roofs per week by years end. on problem is, musk's tweets production numbers need preapproval for his deal with regulators. that quarter profits missed estimates for nintendo. operating incomes fell about 10%. full-year forecast unchanged. apples investor call currently underway. ceo tim cook given a glowing review of how wearable devices fared in the second quarter. more on apple, coming up next. quartersolutely blowout for wearables. accelerating growth of over 50% and a

policy towards iran with u.s. policy towards north korea you've got 2 completely different pictures they are you've got north korea which has nuclear weapons being treated being legitimized by the u.s. president and iran the total opposite do you think iran is maybe thinking that it too can become the next north korea. well perhaps i mean north korea has shown that by testing a nuclear weapon it can exit a great deal more influence on the world stage and and try and circumvent the isolationism that it's experienced in recent decades but let's not forget the iranian case is dramatically different it's a signatory of the number of ration treaty but it also exists a great deal of influence across the region broadly and that's incredibly different to north korea so iran has numerous cards to play in this game and it's this regional influence that has been a serious cause for concern for many in washington but also for key u.s. allies in saudi arabia and israel so i think it's dramatically different but north korea has

. >> the u.s. economy is doing very well. >> the u.s. consumer dominates in terms of the overall gdp number. >> headline gdp growth is in line with what everyone expect ed. >> government spending data, quite strong. >> there is some upside risks to the economy. >> the consumer and the labor market side of things is looking good but manufacturing is under pressure. >> there is clearly a pretty significant dislocation between the industrial economy and consumer economy. >> it is the composition of the data that is worrying the fed. >> there are pockets of weakness. >> we do see a further deceleration in the u.s. economy going forward. >> ultimately, we are moving back toward a lousy trend. jonathan: joining me around the table to discuss is marilyn watson, bob michele of jpmorgan, and george bory. marilyn, you know how this works. you pick your bias, look at your data, and confirm the price. there is something in this for everyone. marilyn: that's right. the data was as expected, shows an economy tha

for the u.s. financial services company capital one has revealed that the personal information of more than 100000000 people was still during a cyber attack at risk and names addresses and phone numbers of credit card applicants in canada and the u.s. including yours truly a suspect we understand was arrested on monday capital one says the hacker exploited a weakness in its systems that's how they described it let's talk about that now here from our d.w. business stephen beard so stephen this what they're saying one person has been arrested in connection with this but this is as you correctly have said this is a case of locking the door after the horse has left the stable right in this case this is something where the person was arrested the crime is the fact that this alleged perpetrator broke in took these files released them but obviously more crimes can happen with all this information that's out there and that's the biggest concern is that it's not over for people the fact is this is the new

you u.s. president donald trump and british prime minister tourism a german chancellor angela merkel and french president emmanuel. as for the place i think alexander lukashenko will be happy to host us in minsk means money we are not changing or dismissing any diplomatic formats. we are offering to talk. since we need to talk right. artless pulling our correspondent economy he is in kiev this evening where that meeting between the e.u. and ukraine's new government is taking place good evening to you nick what do you make of president. sending out i guess a video tweet if you will to russian president vladimir putin saying we need to talk what you make of that. well bret he certainly has a talent for the political sound bite right this is a guy who spent most of his life in show biz and it shows i don't think in reality that this has all too much to do with the real nuts and bolts of diplomacy i can see treason made joining joining president trump in minsk to talk with and selenski this was a

u.s. lawmakers grill a top facebook executive over the company's plan to leave for a crypto currency. if the tech giant can't convince washington to trust it what are the odds it can sway regulators around the world. also on the show the good times continue for 2 top u.s. investment banks reported solid earnings but it's not all positive news on wall street. and a new space race is preparing for liftoff and a german firm stand to profit from nations and companies lofty ambitions. this is your business report i'm stephen beard's in berlin thanks for joining us facebook executive david marcus told the new york times last month that the company's new cryptocurrency libra could be quote a profound change for the entire world and quote on tuesday markets delivered a much more subdued message to u.s. lawmakers libra wouldn't threaten the current monetary system and it wouldn't seek to replace sovereign currencies senators were skeptical to say the least take a look. ahead to facebook's leave or

u.s., the s&p 500 and the nasdaq closed at record highs. the biggest jump in three weeks for the s&p 500. the biggest in five for the nasdaq. we have twitter and alphabet leading a tech rally on positive results. gains coming from stronger than expected second-quarter gdp numbers. we will see a rate cut by the fed this week. a very busy week for earnings in the u.s. we are expecting more than 160 companies to report. u.s. futures unchanged. let's see how we are setting up for asia. after a bright start, we have seen new zealand grinding steadily lower, looking kind of flat. nikkei futures, kospi futures also flat. busy week of earnings out of japan particularly. 157 companies reporting this week. twoy we will hear from among others. 1/5 other kospi will report this week. in australia, the future is looking bright. better than one quarter of 1%. bear in mind, those numbers will reset to 10 minutes before the open. let's check in on the first word news with su keenan. su: thank you. we start

u.s.-mexico border is the worst i have ever seen it. i have been reporting on this issue for over 15 years and we're at catastrophic levels. the way we're treating human beings is in no way we have never done in the past. amy: as scabies, shingles, and chickenpox spread among migrant children being jailed by border patrol in texas, we speak to the prize winning john carlos frey, author of the new book "sand and blood: america's stealth war on the mexico border." >> wrote the book to expose our militarization at the u.s.-mexico border. the stealth war at u.s.-mexico border includes casualties as well as all of the pieces of rule. war right inscale our backyard. amy: all that and more, coming up. welcome to democracy now!, democracynow.org, the war and peace reportrt. i'm amy goodman. a report by nbc shares new accounts of mistreatment and sexual violence experienced by locked up migrant children at a yuma, arizona, detention facility. in nearly 30 accounts collected by health and human serv

buthe u.s. decision to take away the program sets the afghans back but i don't think we have been transparent enough to say that isn't a result of the afghans but it's a position which we need to be transparent about that ticket that political will and commitment. it's to understand what our decisions do. to show them progress over time we also need to talk about in the u.s. military you are not going to have a lieutenant colonel or colonel in five to ten years so we are starting to see now is this next generation of the nato advised forces coming in to the fold to the positions and they are highlighted as the good news stories so i think we are starting to have some highlights we can show that say this is the outcome of long-term security, but i would argue that the new generation still it's too early to judge completely as far as the ability to do something. >> if i could add to that. if you read the report, the common refrain is to be honest to the taxpayer and more honest congress as to the

u.s. and china, at a certain point in their relationship, -- are at a certain point in the relationship, and we have exit in europe. brexit in europe -- europe. the key question for investors is, whether a combination of central-bank action and political rationality comes together to provide this nominal growth. guy: let's say we don't get the latter but we get the former, is the fed cuts enough? jonathan: if you don't get a big step up in the trade war between u.s. and china, getting full tariffs, you hit 2% global growth, so you are seeing a significant drop down in global growth if you see full-blown trade wars. we not heading there. guy: the market is pricing in fed rate cuts. what effect will those fed rate cuts have? will they keep the market story on track at this point in time? the bond markets moved aggressively to the downside. where does the marginal advantage lie on either side of that? 60/40, inning a rebalanced a little bit into the bond story. talk to me about what is going

coming up, apple urging the u.s. to keep its mac pro out of the trade war, but president trump says the iphone maker -- plus francis coming up with its new digital tags and trump is going to strike back, discussing what it could mean for tech giants like facebook and amazon. ♪ we're the slowskys. we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. ♪ emily: this is "bloomberg technology." i'm emily chang in san francisco. apple and goldman sachs' new credit card is weeks away from launch, possibly as early as the first half of august. the apple card was announced on stage at an event in march, enticing consumers with no fees, iphone integrati

the growth of the u.s. economy continues to confound expectations on tuesday some of the country's biggest banks reported mostly strong 2nd quarter results covering the period from april to june j.p. morgan chase by total assets the biggest bank in the u.s. unveiled better than expected quarterly earnings although other indicators on central investors its rival goldman sachs saw a dip in its profits but they still exceeded analysts expectations. goldman sachs results were boosted by strong growth and its equities and lending divisions of the revenue slipped by 2 percent year on year. net income also declined even though the bank still posted solid profits of $2200000000.00 for the 3 month period j.p. morgan chase said revenue in its retail bank division surged by 11 percent but investors were concerned about slower loan growth tighter lending margins and soft capital market results net income still exceeded 9200000000 well ahead of expectations. the bank's c.e.o. jamie dimon said positive momentum in the u.

u.s. president trump had dinner with the queen trump reveled in the royal treatment traditionally reserved for a select few britain's special friends but then came the leak the whole world knows what the u.k. ambassador thinks of president trump tonight london and washington in a royal mess that special relationship is suddenly a strained strange relationship berlin this is the day. of presence is very clear the way the ambassador and his comments that's for our inbox or washington i think is a fine public servant has done a very good job you should look at the present tweets we're not always going to agree with that many people accuse the president. of the birth of the trust of the seekers and it looks like we're on the precipice of having a prime minister. well i've got a good relationship with the white house. also coming up italy shuts down one of europe's largest migrant centers and warns boats carrying rescued refugees no docking a wild tonight special report on fortress. lampedusa i

u.s. economic growth sees a surprise a slowdown d.w. business with the gentle doma law is next don't forget you can get all the latest news information around the clock on our website at www dot com i would like. earth. home. of species. a home worth saving. those are big changes and most start with small steps but global interiors tell stories of creative people and innovative projects around the world. news that could. be used drainage solutions and reforestation. interactive content teaching the next generation of the fundamental protection. using channels available to inspire people to take action and more determined to build something here for the next generation. sfi environment series of global 3000 on t.w. and all mine. broken promise from the white house tax cuts and increased spending had supposedly propelled growth to 3 percent in 2018 but a recount shows it missed the mark. also on the show the u.s. justice department approves the merger of t.v. vile and sprint bringing togethe

in the u.s. city script -- citigroup and j.p. morgan, goldman sachs later in the week and even nonfinancial select taiwan semi conductor on thursday looking for any potential trade war implications there, and whether it tells of the wider story about how companies are reacting to the changing landscape of global politics, how it gets factored in to prices and whether it would get more justification for valuations and equities to keep going up given the discount rate has come off quite significantly. joining us. for you can check out our gtv library for the charts you just saw there. go to gtv . shery: let's return to our earlier story. maybe i have -- ab inbev's decision to can the hong kong ipo. this has brought shares down in brussels and has major implications for the hong kong market. drew bernstein is a comanaging partner who advisor firms on whether going public in hong kong or the u.s. great to have you with us. let's talk about what happened with ab inbev. expectations were high. we a

the u.s. military shot down an iranian drone in the strait of hormuz. iranian foreign n minister mohad javad zarif spoke out again -- against the harsh u.s. sanctions while at a meeting of the non-aligned movement in caracas, venezuela, sunday, calling them "economic terrorism pure and simple." meanwhile, the pentagon has said u.s. troops are being deployed to saudi arabia to defend american interests from emergent credible threats. the saudi kingdom has not hosted u.s. combat forces since 2003 when donald rumsfeld announced their withdrawal. we'll have more on the latest in iran after headlines. president trump isis continuing his attacks on four progressive congresswomen of color after tweeting last weekend that they should go back to the "crime infested places from which they came." they are all of american citizens. trump tweeted sunday -- "i don't believe the four congresswomen are capable of loving our country. they should apologize to america and israel for the horrible, hateful things

british ambassador to the u.s. resigns over the leaked cable scandal and which is private e-mails exposed are far from glowing review of donald trump and his administration. team from a wall comes under fire from u.s. democrats for links to billionaire jeffrey epstein news accused of multiple cases of child sex abuse past despite his close ties to both camps of washington's political elite.

the u.s. to recordor indices saw a highs with the s&p 500 topping 3000 for the first time. the dow gained .9%. tech in industrials leading the gains. the energy sector saw some gains as we had crude rallying on the potential impact of tropical storm bailey -- very. -- barry.\ we had producer price inflation looking -- affecting the outlook of the federal reserve. witht seeing record games the s&p 500 gaining for a second consecutive week. let's see how the markets are setting up as japan is away on holiday. sophie: investors wanted to contend with a stronger yen, which is below 1.08 against the greenback. eased theirhave earlier advance. marginally higher. could be set for another day of gains. could see another day of close -- record closes. tested as the be japan and korea spat wears on. we were expecting a cautious a data dump- await from china, economists predicting the slowest annual growth in 30 years. we have trade numbers from india and indonesia this monday. the: let's check in on fir

and if the u.s. continues with strong arming with same sions will never would want something through another country then other countries are going to move further in that direction. now with us democrats readying to grill special counsel next month over his $500.00 page report into donald trump and his 2016 campaign a man jailed as part of the pro forma trump advisor george papadopoulos claims he was set up by investigators he was a foreign policy adviser during donald trump's 2016 presidential campaign and pleaded guilty to lying to the f.b.i. in 2017 about his contacts with officials linked to russia he was jailed for 12 days and discovered he still serving a 12 month supervised release parties going underground spoke to george papadopoulos among the topics broached allegations that a strike he was spying on him and feeding information to british intelligence you can watch the interview unfold it is today. april 20th 2016 i reached out to for the 1st time by the australian government in london whe

that the u.s. might reconsider. the u.s. has said unless iran changes its behavior there will be no rolling back of the sanctions which have been reimposed since the trumpet ministration pulled out of the iran nuclear deal last year and the u.s. has fact not only has reimposed the sanctions that have been lifted once the deal was signed back in 2015 but it has in that time imposed more sanctions both travel bans as well as economic sanctions on not just iranian persons and iranian officials they i.r.g.c. in fact but it's also imposed similar sanctions on persons and businesses and other countries thought to be assisting the iranian government and what the u.s. considers uncivil and perhaps illegal behavior we saw a new set of sanctions just on thursday aimed at 7 companies and 3 people who supposedly were helping iran obtain a nuclear material for its enrichment program so that part of what the u.s. calls its maximum pressure campaign has not abated by any stretch of the imagination and that's the view from washington thank

u.s. justice department approves the merger of t.v. and sprint bringing together the 3rd and 4th largest wireless operators on the race to build super fast 5 g. networks. and talk about temporary housing we visit workers now living in camperdown communities close to their jobs. this is v.w. business i'm on in berlin welcome u.s. growth failed to live up to donald trump's promises of a 3 percent gain last year the government says the world's biggest economy grew more slowly in 2018 than previously thought the commerce department downgraded its estimate from 3 percent to 2.5 percent the overall trajectory is upwards and consumer spending is buoyant but lou we're spending on building equipment and software led to a downgrade analysts believe the trade war with china created uncertainty. and it's probably doing so still joining me now in the studio is our business reporter clifford coonan and our man on the markets. welcome to you both now what's on the east let's start with the u.s. so trump

the u.s. volumes are like. nevertheless, we have seen the s&p hitting a fresh intraday high. but as i say, it is unlike volumes. the data dump -- it is on light volumes. the data dump continues. services ism is out, and it is light, coming through at 55.1. the survey was 56, so this is a soft number. is this evidence that we are starting to see this transfer of the weakness in the industrial sector into the services sector? it is still a relatively robust number. anything north of 50 is expansion, so that is pretty good. you've got the durable goods number bang in line with estimates. the transport number is a little stronger than i am it's. you're getting a -- then estimates. the factory number is a little weaker than estimates, a little better. than last time around what we are getting here is maybe a bit of evidence of continued weakness in the industrial sector, and may be some transference of that into the services sector judging by the ism, which is still robust, but beginning to fade a

u.s. despite the fact jerome powell kept to his dovish message. the 10-year and 30 year yield jumping eight basis points yesterday. we had the lower than average bid to cover ratio in the 30 year option. the 10-year at 2.13. we did see the 30 year yield the and's main in yesterday's session and the s&p 500 hitting a record high but not closing above 3000. at one point, equities taking a dip halloween president trump's comments about china. sensitive things are. will we close above 3000 and the week? how much further do we have to chronically gains? look at the dollar. weakness in the dollar for the third day. sayinghow from goldman the risk of fx intervention from the u.s. into the dollar is low, but a rising risk. we haven't seen fx intervention in dollar since 2011. they say that could be seen as unconventional monetary policy. dip yesterday dropping more than 1% but we are still above 1400. oil, 60.52, heading for its best week in three. let's check on the markets in asia with david ing

u.s.. i wonder if what we are seeing in commodities makes sense to you. the question of the day is about why commodities are not playing a part in the rally of everything? we see stocks and bonds going higher, but commodities are the laggard. mark: it puts the narratives -- fits the narrative. there is not real growth there, or demand. commodities may be the first part of the chain. they are not going up because there is not economic growth. that is why we see yields come lower and we see equity and credit do well at the last stage of the cycle. to me, this dichotomy makes complete sense. anna: what about the war of words over the dollar? we've got president trump lashing out at europe and china. plenty of measures we can look at, we don't. many metrics show dollar strength. mark: from his right, the dollar is strong. whether other countries are manipulating, i don't know but the dollar is strong and it is holding back the u.s. economy. i can understand why trump is upset, even if he is bla

trade negotiations between the u.s. and china set to resume on tuesday. u.s. treasury secretary steve mnuchin and robert lighthizer will meet the delegation in shanghai with both sides showing little desire to compromise. friday, president trump indicated a deal could be a ways off. pres. trump: i think china will probably say, let's wait, let's see if one of these people who gives the united states away could possibly get elected. i will tell you what, when i win, like almost immediately, they are all going to sign deals. emily: let's get to l a where sarah mcgregor is standing by. what should we expect when these talks resume? sarah: it is really hard to know right now. that's the million-dollar question. we know from the u.s. side, they want to start off where talks broke down in may. they want to rehash that document that they said at the time was 90% complete. the u.s. says china reneged on some of the promises they made. it is hard to see, if they are starting off from dispute, how they will find a way to go forward. i think we will be all carefully watc

not only is it below 2%, the u.s. 10 year yields u.s. and consumer inflation so that is the spread i had, falling below the red line. when you buy a u.s. 10 year yield, you are not even getting paid inflation, so it is hard to see how that could be attractive to a lot of investors, especially foreign investors, which is weighing on the dollar. we continue to see yields sinks lower. nejra: dani burger in london. for us in mumbai. to follow off from what she was saying, we are asking the question on mliv -- why don't stocks care about slumping pmi? you can join the debate. tv on your bloomberg. we have a chart showing contractionary territory for pmi's. stocks move higher in higher. why don't equities care? >> i have heard many arguments because it is a question i thought about a lot. the most plausible argument is that market smiles think that central banks will be able to turn things around. what i would say is if you look evidence, it is really hard to believe central banks will completely immunize asset prices that are supposed to

the u.s. the institute for supply management tossed out one-month later last year and now we just got the latest reading for june and scott, it's at a three-year low. anybody worried about this? >> i think there are some individuals out there starting to worry and that's why i guess the fed is looking at cutting rates three times. right now, the market's in a tricky spot. everyone is talking about 2954 in the s&p. know what, we were there in september. ten months ago. we were there six weeks ago. now what we're looking at is can we get traction above it. i think people involved are having a hard time adding to positions when corporate earnings season is not going to be so great coming in the next month because some of these tariffs are weighing on their earnings and earnings projections. right here, it's hard to get so excited but it's also hard to get so bearish that if we do get more negative data we will get those rate cuts. it's a little bit of a yin-yang. >> you can't have a great economy

u.s. unveils a new asylum policy aimed at limiting the number of central americans arriving from mexico. and overwhelming vote in the u.s. house condemning human rights abuses in saudi arabia. and the monsoon rains have eased but the death toll is rising will be on the ground in nepal for the latest. for democratic us congress women have responded sharply its attacks by president donald trump on their patriotism and citizenship they are among the hyped highest profile members of the new house of representatives now all 4 reacted strongly to trump's tweets and comments this country was founded on the radical idea that we are created equal and endowed by our creator with in inalienable rights and yes we have a long way before we fully live up to those values. it is for this reason precisely that we have to take action when a president is openly violating the goals he took to the constitution of the united states and the core values we aspire. as marsa luther king said all we say to america i

sanctions u.s. has expressed its concern over the move professor of political economy jack told us that this initiative might go further if the u.s. continues its sanctions policy. well it's only at the very beginning and we're talking only about 2 countries they're fairly large countries it could be a significant amount of the trade in non-dollar currencies or in crime you know are still the global currency i think it will be a fight with the brics whether the u.s. will stand by and do nothing if the brics are joined you know the china russia payment system they won't be using to do it the u.s. is not going to stand by and let this the centerpiece of its global economic empire . slip from its fingers it will take counter actions overtly and covertly here to discourage it you know use a sanctions is a short term weapon and game here for the united states in trouble loves it but you know long term it may come back and bite the u.s. if it pushes too hard i think and if the u.s. continues with strong a

to criticize them the u.s. could stop the saudis from bombing here i mean for example it could stop the u.a.e. from shipping arms clandestinely to various rebel groups but the u.s. chooses not to do so because it would run counter to the economic interests of the arms industry and the geostrategic planning of people in the state department and of course might interfere with the oral business the u.s. runs throughout the region. and finally a woman has been kicked off a petition is a jet flight for wearing clothing that misty revealing apparently. a 31 year old mother of say was heading home from her holiday in spain when a flight attendant didn't let her on board the attendant said that she needed to put itself see 3 black eyes and she's wearing that but also bowen says she complied with the request and still wasn't allowed to board having to spend the night at the airport as a result. i know the show my buddy the tome but it's not spontaneous as it wasn't it made me feel so self-conscious the crew and mainly t

can the u.s. women's national team spark action on equal pay for equal work after a dominating world cup? >>> iran escalating once again, breaking its commitment to the nuclear deal. how much uranium will tehran enrich and how will the west respond? >>> i'm sorry for any of the pain or misconception it may have caused anybody. >>> joe biden apologizes for comments about working with segregationists but he's mounting

of the u.s. federal reserve has cut its key interest rate by a quarter point to a range slightly above 2 percent this is the 1st rate cut in a decade and a step for the u.s. central bank to counter several threats to the u.s. economy ranging from uncertainties calls by president trade wars to low inflation and. global growth outlook fed chairman powell repeated the pledge to quote act appropriately to sustain the expansion of the financial markets of interpreted as a signal for possible future rate cuts. wall street did not immediately react to the cuts it had been widely expected. they'll be more about that story in the business news with stephen right after this news update. on news of the emissions cheating scandal in germany is all the motive industry may have broken 4 years ago but prosecutors are still bringing charges still naming suspects the latest. who used to head up the division of the vokes wagon group. for more than 20 years rupert stadler was one of the top executives in the german

coming up, u.s. you choose in the green looking to open as u.s. and china reach a truce on the trade war. we will break it down. this is bloomberg. ♪ alix: president trump and xi reaching a trade war cease-fire. what does it mean for the fed? the fed fund future is the white line and the blue line and the blue line is for december 2020. you can see how expectations appeared back in the next couple of days. joining us is adam pozen and jim polson. adam, what does this do for the fed put? does it make trump more aggressive or does the fed not need to cut? adam: i think the decision whether or not to cut was not going to be affected very much by the trade stuff, alix. a blowup in trade is very obvious that it would change how the fed looked at things. it is much more domestic policy. does trump get more aggressive because he thinks he has a fed put? the chart indicates that is not what is going on. he got less aggressive, as jim said, right when everyone was sure the fed was going to cut. david: when we listened to chairman powell, he talked about

and u.s. tensions because. the british ambassador to washington and some leet comments describe u.s. policy on iran is incoherent chaotic says it's unlikely that u.s. policy on iran is going to become more coherent any time soon because this is a divided administration robert who's driving the hardline approach within the us administration and what's the aim of all of this. those were really quite amazing comments weren't they i think we all enjoyed them and i think a lot of people saw the truth in that as elie has pointed out maybe we're going to see a little more in the u.k. here in a few weeks who is driving miss i think the u.s. is speaking with very many voices it's very hard to tell who the voices are some of them are constant like bolton imposed peo haven't changed their mind bolton has a terrible conflict of interest as almost a paid spokesman for m e a i me k. in the past so i don't know why he's even allowed to participate in this interim pairs of is talks in most sides of his mouth all the time so i