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tv   Bloomberg Markets Balance of Power  Bloomberg  June 12, 2018 12:00pm-1:00pm EDT

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we are watching at this hour. history is made as president trump meets with kim jong-un. a made a commitment to peace but offered few details. in the u.k., parliament is taking a series of votes today that could make or break prime minister theresa may. for the primeke minister for business and brexit? it is decision day in the at&t time warner case. look at why this case could set a major precedent for conducting deals in the age of trump. ♪ david: president trump has left singapore and is on his way back to washington, but not before meeting with kim jong-un and signing an agreement to begin a process hoped to lead to the denuclearization of the korean
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peninsula. covered they summit. give us a sense of what these leaders accomplished. juliette: it was a very historic day, no matter how you look at it. it has been an extraordinary 24 to 48 hours in singapore. they did agree to a historic agreement of peace. it is light on details and crucially omits some several -- some keywords in denuclearization, the words "verifiable," and "irreversible." these are the words mike pompeo said were so crucial. -- thist know how these denuclearization will pan out and whether it can be verified.
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kim said the world will e a major change, and president trump seems very update -- upbeat, talking about his historical dealmaking. sanctions will still remain on north korea, but you get a sense that perhaps kim walked away with the upper hand. the u.s. agreed to stop military exercises with south korea. wasgot a world stage and almost treated like a rock star in singapore, many -- when he made a to her bang of the city. tour of the city. south korean president moon said it is a huge step forward for people aroundorld who long for peace, and trump has achieved a feet no one else has delivered. kellyriticism, robert saying, is this it?
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it is very thin on details. the asia society saying -- did wet live the same horse three times? our colleague on bloomberg, saying all this pomp and ceremony reminding him of a miss universe or atlanticsino opening. this is very historic in the sense that it is the only sitting u.s. president to meet with a north korean leader, and come to some kind of agreement. shery: that in itself could be historic, but you have mentioned the reaction from the region. south korea seemed a little surprised when it comes to suspending the exercises. heard fromave we asian leaders? juliette: we are still trying to hear what some of trump's communicators at the g7 might say. as stephen engle's put it, it seemed president trump was more at ease with this north korean
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dictator than his colleagues from thepresident has spoken toi jinping and prince minister out of a -- prime minister shinzo abe. they were confident. the prime minister singa posting on his facebook page, congralating the leaders on those talks and really encouraging that he gave that platform for them to have the talks in singapore. the market reaction is pretty muted. you saw a lot of the stocks that had been outperforming on hopes that inter-korean business fall back today on the cost be. david: bank to -- great to have you with us. we welcome michael o'hanlon, a fellow at the brookings institution where he specializes in u.s. defense strategy and the use of military force. welcome back.
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you just heard juliette saly say it does not really commit to verifiable and irreversible. tohey know what they will be verifying? have they agreed on what denuclearization means? michael: they definitely have not agreed on that. that will be the last thing to go, in a way. that will be the final disagreement because as we are all aware, kim will not give up his nukes easily and may not at certainly not the warheads anytime soon. i think we will have to dance around that kind of in term. the short-term is more a tractable, to get a database from north korea about where its nuclear sites are, to agree on what kind of inspectors will visit those sites the way the international atomic energy andcy used to before 2003, then to actually verify that the , thatent, the centrifuges
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they have been shut down so they are not making more bomb grade material. over time, dismantle those production capabilities as well as capability for longer-range missiles. along the way, you have to suspend certain sanctions, provide certain food relief, but do not do anything irreversible because you do not want to buy the same horse four times. that is the kind of hard work secretary pompeo has ahead of him when es to come up with an al, implementable deal. this summit declaration does not get us there. i still support what happened, but it is a luminary first step. -- preliminary first step. david: went to start relieving some of sanctions, how far does north korea have to go in doing something that we can confirm before we can start relieving some of the sanctions? michael: i think the way you think of it is to try to state analogous in our response to
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what they accomplished. if they give us a database and let inspectors in, now we know about facilities we did not know about, and that information is in our brains and the north koreans cannot take it back. that is a partially irreversible step, and they can perhaps get some humanitarian aid. when they start to suspend operations, shut down the operations of those facilities, that is reversible but still significant. that is when we should suspend sanctions but keep them in place with a snapback kind of capability. when the centrifuges are dismantled and taken out of the country, you are at a point where it is hard for north korea to rebuild in they want to start from scratch, at that point you could lift the sanctions, take .hem off the books altogether obviously, when i did is a very broad brush proposal and conceptual framework. you have to get into the
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nitty-gritty on each sanction, but that is how i would think about it. we have the chinese foreign ministry saying the united nations security council ,hould revisit the sanctions saying we should make efforts to support the current diplomatic efforts. you have all of this talk on sanctions going on, north korea has gotten ahas become an away legitimized. you have the suspension of north korea -- korea-american military exercises. michael: the chinese should not have said what you are quoting. that is not an appropriatetep. it is one thing to say we should make some kind of gesture of humanitarian assistance, a one-time delivery of food aid or something like that. but to start walking back the sanctions overrely vague promises of long-term denuclearization, we do not even know what that means. i think the chinese are wrong.
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i think president trump is willing desk is correct -- is correct and willing to do some things that are reversible. ercises for military preparedness anyway. we usually train our forces in the united states in the hundreds or thousands. we do not do 100,000 troop exercises just for compat preparedness. -- combat preparedness. we do that for messaging, symbolism, psychology, to show strength of the alliance. we do not really need to do that kind of thing. i disagree with the chinese that this is the time for sanctions relief. shery: how optimistic should we be that the talks will move forward, when we still do not have any date for future negotiations, when there are no diplomatic liaisons offices even promised? michael: i don't think anybody should be overconfident, and nobody should be celebrating.
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by the way, i am hopeful the process will pick up fairly soon , but let's remember that each and every day it does not pick koreans are still probably spinning their centrifuges and enriching more a rainy and -- uranium to make bombs. time is not necessarily on our side. i am not suggesting we are in imminent danger of some radically new, qualita growth of threat, but i think your question is apropos. we need to move on with good process year and get after this in the course of the summer and fall. shery: michael o'hanlon, senior fellow in foreign policy at the brookings institution. double markets, including in the u.s., shrugged off the north korea-u.s. on it. we are seeing an upward bias today, with momentum
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reasserting itself in technology in particular. the nasdaq composite once again making a record, after some of the large cap tech heads wavered . another thing we continue to monitor, mergers and acquisitions. we are on track for a pretty high m&a here. what we are seeing here is that the first quarter global m&a was the highest and's 2007, in terms of the value of the deals. they could climb even more. according to jpmorgan, this year is on track to be the best ever when it comes to m&a activity, not just globally, but in the united states. if the at&t-time warner deal gets approved, that could add to the tally. stocks are not much changed ahead of the judge's ruling on the justice department's quest to block this deal.
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we could b getting concessions asked for by the judge. the rest of the sector is higher by a substantial amount. 20th century fox and comcast, and there is some jockeying for m&a among other parties. horizon investments says if it's and northhe u.s. could be the defense sector.r the fence stocks are trading lower today. budget hawks want to cut spending, so we could see the defense budget which is over $700 billion annually, become a target. david: many thanks. berag up, congressman ami will be here to talk about today's historic summit. live from new york, this is bloomberg. ♪
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♪ shery: this is bloomberg markets. i am shery ahn. david: i am david westin. we turn to mark crumpton. says hisdent trump relationship with u.s. allies is not in jeopardy, but he has to look out for america's interests. he discussed the dynamic with nato before leaving singapore today, after his historic meeting with kim jong-un. >> i have a good relationship with angela merkel. nato, we are paying 4.2%. she is paying 1% on a much smaller gdp than we have. anyone canng for us say, from 60% to 90% of nato, and we are protecting countries
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of europe. on top of that, they kill us our trade. mark: chuck schumer warned the trump-kim meeting could become what he calls a reality show summit. speaking on the senate floor, schumer said president trump did not waste any time giving up u.s. leverage over north korea. ident faces questions over his decision to stop the joint military exercises on the korean peninsula with south a. senator schumer says if north korea fails to denuclearize, the meeting will be a victory for north korea and a defeat for the united states. theresa may faces crucial votes on brexit. her brexit bill is headed back to pd pro-ropean lawmakers are threatening to vote against her. key issue is an amendment that would give parliament the power to direct brexit negotiations. minister has quit the
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cabinet and will back the amendment. police began evacuatingjewish t illegally on palestinian land in the west bank. dozens of settlers protested against the evacuation, with some throwing stones and bottles at police. after the election, israeli forces are expected to demolish the structures. the government says it will compensate the residence and rebuild their homes on knee by land that is not privately owned. desk nearby land that is not private -- nearby land that is not privately owned. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am mark crumpton. this is bloomberg. shery: let's get back to the big story of the day, a historic summit between president trump and kim jong-un. what does the u.s. walk away with? let's welcome congressman ami bera of california, a vice ranking member of the house
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affairs committee. you are also cochair of the congressional study group on korea, and you were in seoul just recently. what will the reaction be on presidding military exercises with south a? will that affect thce? rep. bera: first, thank you for having me on. i think itfor us to be talking about suspending military exercises with them close friends and allies in south korea. , but yourrst step prior guest laid out the complexity of how we get fhere . the president may have been premature in saying, we will stop doing our exercises. maybe a bit premature in talking about withdrawal of u.s. troops. we have lo interest in t region and we cannot show any split between our friends in south korea and allies. david: i am going to put you on the spot and admitted right up
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front. schumer toul for mr. be calling it a reality show, something that is not even 24 hours old? we do not know if it will amount for something substantial, and don't we root for peace? rep. bera: absolutely. . would tone down the rhetoric i might not agree with everything the president said, but at least we are talking. it feels better than when i was in south korea a year ago when it felt like we were a lot closer to a potential kinetic conflict. at least we are talking. this will be a long, slow process. i think we ought to let the secretary of state and congress work out the details of what these next steps are. rhetoric back-and-forth from l.mocrats and republicans is not let's hope diplomacy works but be very -- but verify and the cautious. shery: it will play out during the midterm elections.
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will this affect the midterm election climate? peace and prosperity are good topics for the gop to run on. rep. bera: peace and prosperity are all topics all of us want as americans. i do not think president trump's dialogue will be a huge factor in the midterm elections. i think those elections will be a referendum a little bn where president trump is, but it will come down to the candidates and the campaigns. on the democratic side, we have some good candidates running strong campaigns. my message to the administration is they all to work closely with congress. this will be a tough negotiation . we have to stand strong. we should not be thinking about relaxing any of the sanctions at this juncture. i think china was wrong saying to go to the unit of this un security council and rollback sanctions.
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would be best served working with congress in a bipartisan way. david: not only did china have the foreign ministry statement, but the president said china had been good on closing the border except for the last couple of is there anything congress can do to keep china onside during what we all agree is a long process? rep. bera: we have passed pretty sweepingns, and given the administration's ability to got kim jong-un to the part of table is how biting those sanctions were and how has cash reserves were drying up. north korea was starting to feel the pain. now is not the time to take our foot off the pedal. we have got to continue to stay strong and make sure china does not send it -- does not start sending capital to north korea. we have good leverage on negotiations. let's keep moving forward and
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actually laying out what denuclearization would look like, what are those concrete steps. now is not the time for china or the un security council to be thinking about reducing sanctions. shery: president trump saying he actually plans to invite the north korea -- absolutely plans to invite the north korean leader to the white house. rep. bera: that is not necessarily the right next step. let's let secretary pompeo sit-down, secretary mattis, see what this looks like. maybe eventually you can get to a place where the north korean leader can visit, but right now we have a long ways to go. of us in congress want to see concrete steps toward denuclearization. shery: congressman ami bera of california. this is bloomberg. ♪
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♪ david: time for the stock of the hour, weight watchers.
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shares are up more than 7%, hitting a new record high after two analysts initiated coverage of the stock with positive coverage. kailey leinz is here. kailey: this is the grand turnaround. more analysts geng in on the action today. jpmorgan initiating an overweight rating and a price target of $103. we can see that now the shares, with this new record high, or nearly touching the average analyst price target of $94.80. we are almost there. shareslysts thinking the will go a lot higher, jpmorgan in particular saying they see earnings of 20% -- earnings growth of 20% in the coming year. because of the social media influencers like opera, should
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-- oprah winfrey. shery: are we just all getting fat? david: you are not. kailey: their subscriber growth is doing really well, so let more people are getting involved. it is not just because -- they are making it less about weight. it is more about a healthy lifestyle. it is a lifestyle, not just about the way anymore. -- weight anymore. shery: coming up next, the future of brexit hinging on a slative vote today. we will discuss it. thiss blooerg. ♪ what's a gig of data?
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pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. david: this is "bloomberg rketalance of power." shery: let's get a quick check on the major averages. u.s. stocks are higher today, the dow gaining for the fifth
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consecutive session. a little bit flat at the moment. the s&p 500, up 1%. discretionary's are up, the knowing it down our staples and health care. u.s. inflation figures are in mine with estimates and yields are currently gaining ground, while the 10 year ist 2.5% and pushing towards 3%. safe haven assets are down as we see an easing of tensions after the north korea u.s. summit with the japanese yen at the weakest level in almost three weeks against the dollar. wti gaining ground today, joining other opec members in a position to boost oil supply. david: for first word news now, we turn to mark crumpton. : president trump says the united states and north korea are ready to write a new chapter. they signed a document in singapore, leaving the details to future talks. kim repeated his promise to
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denuclearize the korean peninsula and the president will and wargames with south korea but there won't be any immediate relief for the north korean economy. >> to realize their amazing destiny, to reunite their national family, the menace of nuclear weapons will now be removed. sanctionsntime, the remain in effect. the president said that kim has accepted an invitation to visit the white house, but there is no date for that. peter varro has apologized for remarks that he made about the canadian prime minister, justin trudeau, after the g7 summit he said that there was a special trudeau.hell for he accused trudeau of engaging in bad faith diplomacy today and he called those comments inappropriate. a federal judge in virginia has again delayed the schedule trial former trump campaign
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chairman paul manafort on charges of tax evasion, bank fraud and railing to report foreign bank accounts. that is according to politico, who reports that the trial has to july 25.back the move came at the request of prosecutors from robert mueller's office who said that the earlier start date would conflict with a hearing on another criminal case that manafort is facing in washington. 265 publicose schools across puerto rico have been temporarily halted after a judge ruled that education move that the't closures were necessary. the department of education says that they will appeal the decision. enrollment and puerto rican schools has been steadily shrinking as families keep moving to the mainland of the u.s. due to an 11 year recession and the devastation that was caused by hurricane maria. ,avid and shery bipartisanship on washington avenue. livere looking at
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pictures, a parade for the stanley cup champion washington capitals taking place right now. it has been over 20 years in the making, alex ovechkin finally getting his ring. it's a beautiful day in d.c., they will be there for a while and as you saw from video over the weekend, he has been taking the cup around the d.c. area and having a good party. my invitation must have been lost in the mail. this is bloomberg. ♪ -- global news, 24 hours a day, powered by 2700 journalists and analysts in over 120 countries. this is bloomberg. david? david: i didn't make you out for a hockey fan, just goes to show that i learn something every day. london, the house of commons has begun a debate on the brexit bill. two in particular raise serious questions about future negotiations with europe. we welcome dr. christopher pissarides who comes to us on the telephone from london.
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professor, thank you for joining us, sir. christopher: good evening. david: take us through these amendments. i will resist the temptation to ask about a meaningless about, this is a meaningful vote. what makes it so meaningful? there are several meaningless ones taking place now. the reasoning it is meaningful mp's toves the right to reject any deal agreed on by the government. , thethe deal is rejected question is, what happens next? one possibility is for the government to come up with another deal. mp's are opposing in the government approach, that they are trying to do, is get the power back to them in the terms for a new deal. it's not clear that the government would accept that because so far it has been winning votes, not very
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important ones, only by getting concessions. movingof the way towards the amendments in the house of lords. there was one report that maybe the government would agree to letting the mp's have more power if they cannot come up with another deal by november 30. we don't know about that yet, though. this to me, if you got to a world where they all had a say, how could you ever get a deal within the time allotted? with that necessarily extend past the time that they are talking about now? well, it's: inevitable that it would take longer if you had all the mps doing it. the way it works in the committees, maybe they agree beforehand based on a critical mass of mp that might agree on what they performed -- propose,
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you amended, you vote. it takes long. decisions are made. there are private member bills that get through the house of commons every year. it's the way that the house works. what the government wants, though, is to have the power in their own hands. she has not beeny transpt about what she will say. in the beginning she didn't know to say anything, something negotiating the deal that will go through because as government we should be able to make decisions. of course, in britain important decisions are always coming from the house of commons, who have taken powers away from the house of commons. it would have gone against the traditional way of doing things. the other amendment in the focus was the customs amendment to keep them in the union after the brexit.
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the new agreement would instruct the government to seek and negotiate a customs arrangement with the eu >> again, it's clear what the customs agreement is. it's clear what needs to be in the customs union. you accept all customs of the european union without the power to alter them. being outside, they wouldn't ine the right succeed negotiatio. what britain is rightly saying is that this goes against constitution, against the referendum that says that we take control. that wouldn't be giving back control. the customs agreement that they specified. well just because there is no such arrangement without encounters. it is a kind of bespoke agreement where you agree for
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example that on some goods that might be free trade and on some other goods there may not be. and sometimes it's called a free free plus plus, there is trade with canada, for example. saying it might eat a canada solution plus plus, but i'm this point what's important is the irish border question. because britain, the british , theyment under pressure don't want to have a border between northern ireland and the republic of ireland. that might regenerate the -- what we used to call the troubles. demonstrations, the violence in the streets in all of that. is that eu is saying you cannot have a free border across the republic of northern ireland and not the in a customs union because how do we check
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the you respect the rules when you go across? may wanted to have a specific date by which negotiations have to be finalized over what we call the soft border between the two parts of ireland. insist that there shouldn't be such a date because it goes brexit, if you will, there shouldn't be such a date because what happens if there is no appeal hat date on customs? so, where we are now seems to be a situation where the vote might say there is no limit to how long the irish border remains open and therefore by default there is no limit to how long the u.k. remains in a customs union. frexit --at the especially boris
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johnson, are insisting. of course, mps might vote for it, partly to do with the irish question and partly because the rebels control the eu, the rebels might take this as an excuse to vote on some amendment it is much more pro-eu than the government had been making it out to be. professor, thank you so very much for your time today. that's christopher pissarides, professor at the london school of economics. coming up, battle royale over the fate of the dreamers. over theup on daca deadline. live from york, this is bloomberg. ♪
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david: this is "bloomberg
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markets: balance of power," i'm david westin. shery: and i'm shery ahn. republican house leaders are up against a hard deadlinend a common ground on a long-awaited immigration compromise. the heated disagreement over the pathway to citizenship for dreamers has left the party fractured with moderate and conservative lawmakers squaring off. moderates are on the verge of forcing the vote, not willing to wait beyond today's deadline. joining us now is in a credit ressman luis guitierrez. a member of the hispanic congress -- conference. do you expect the discharge petition to move forward? just so youve: know, i'm a bystander in this. the democratic caucus is not a player in the discharge petition. we have put our hundred 93 signatures up. this is within the republican party. they have to decide.
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this is something i have not seen before. of the country says it's a great idea to take people who came as children and document them. to let them go to coet prosper., let them most americans see them as fellow americans on everything but a piece of paper but they want to give them that he's a paper. only in the congress can the republican party -- it's still part of their strategy, the strategy to be as ruthless, as mean, as inhumane, as fear martin during as possible towards immigrants in order to win the election next november. so, it is their crisis. it is their contradiction. congressman, we have this breaking news right now from the u.k.. the u.k. government has that meaningful vote on the brexit bill. this was amendment 19, whenthern
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was heading back to parliament and pro-european lawmakers were threatening to vote against her, this amendment 19 would give erunprecedented power to direct brexit negotiations. we are now getting a headline on the bloomberg saying the u.k. government has one on that meaningful vote in the brexit david and i just had a conversation with a professor from the london school of economics about this and how important this is. david: the other headline suggests that this is really a testament to the dealmaking potential, saying that she wins the vote after promising concessions to pro-eu rebels. this is what she has been doing since it came up, making concessions and pulling it together, even as people speculate that she may have difficulty. sory: congressman, thank you much for waiting, we had breaking headlines there. let's go back to what you are telling us about the immigration vote.
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you are aying bystander in these discussions, but if you get that discharge one of the bipartisan proposals will go forward and people will need to vote on it. what are the chances that any one of these bills could actually passed the senate as well and then get signed by the president? rep. guitierrez: sure, sure. look, there will be fourtis. i signed up for the heard bill. us modern technology on the border without building a wall. and at the same time it allows the dreamers to go towards legalization. that's a perfect combination. more border security without a wall and the youngsters get a permanent solution to their dilemma. and there are going to be three other options. my hope is that that is the option that wins and i'm ready and aired, as i have signed on
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to the petition already, along with 192 other immigrants, we are ready. the reason we say that at the current moment it's an current on -- incumbent upon the republicans. it's a slamdunk, but they are at like 20 out of 240 republicans. they have to move forward. but look, this is all part of an election year strategy. 80% of the american public, including the vast majority of trump voters, republican voters, agree that we should do this for dreamers, yet they will not take this action. think about it a moment. we have accompanied miners crossing the border and we are making them unaccompanied. undocumented them you see the raids in tennessee , thosese are not ms 13
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slaughterhouse every day and ohio. people working in a nursery. working in a nursery in. in pennsylvania it was restaurant workers. you cango, it's anybody find. they are taking people who are working, contributing, paying taxes, deporting them and separating them from their families and from their children . and we are doing it at the border. look, this is an inhumane, cruel as you can get mechanism in order to tell the base of the republican party the we are going to get those immigrants and we are going to be as mean and as the and as cool and inhumane as we can be. before us. that's a contradiction in the greatest american tradition of asylum seeker. i want to please add that when people come to our border toking asylum? that is legal
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come and seek asylum in america. it is on the books as part of our statutes. are ancongressman, you effective advocate, no but -- no doubt about it. you paint picture of cruel and brutal, casting aspersions on two people on the other side. maybe 80% of the american people think we should allow these dreamers to come stay here, but if you ask them how many of the relatives get to come and stay, it's unnecessarily the same 80%, they have a different view. if you ask them about better protections on the borders, it's not as black and white as that. do you admit that there is some of legitimate issue the other side has, even if they are not going about it the other way -- the right way? look, it isrez: cool, inhumane, and deplorable to take a child -- you know what's happening at the border. a mother is coming, fleeing systematic repression, murder, torture, enslavement as of ms 13 and how they control guatemala,
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el salvador, and honduras. they are coming to our border with their children. in your mind. i'm trying to think of it. what is it like? do they rip child away from the mother? what they have done is scarred the child. we are talking about children. one year, 2-year-old, three-year-old children. we have scarred them for life. what practical purpose does that have other to be as mean as you can be? i believe that the majority of the american people should support the heard aguilar proposal. it enhances border security without creating a wall, using modern technology -- not old technology that the chinese used for hundred centuries before using modern but technology and the same way, doing what american people think is right, that immigrants who came in as children should be allowed the opportunity to
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prosper in america. think about it for one moment. 800,000 dreamers signed up for daca. what are all the stories you have been reporting at bloomberg? doctors, they are valedictorians, lawyers, engineers, teachers. how they are contributing. why not allow them to contribute fully? david: very effective advocate, we really appreciate it, congressman. luis guitierrez, from illinois. over in great written, prime minister may's government has one the vote on the meaningful amendment that had been proposed, promising concessions to p-eu members, meaning they won't have to take it to parliament if they don't like to deal. she won the vote by making compromises. live, from new york, this is bloomberg. ♪
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almost 18s been months since at&t and deal to purchase time warner. today we should learn whether it is actually going to happen. that is when richard leon is scheduled to issue his ruling in the case brought in the justice department to stop the deal. join now from outside the courthouse, jennifer reed, senior analyst with bloomberg intelligence. we know the options. no, you can't do the deal. yes, you can. or you can change sometuff. what are you betting on? what do you think is most likely? what i'm betting on, leaning towards, is that at&t wins this trial. having seen what i saw, i believe that's what should happen. any of us from the outside , they areust trial limited to some extent, there was an awful lot that was confidential. the judge making this decision had access to a lot more
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evidence than any of us that participated from the outside did and it really up to him and how he weighs the evidence. i'm leaning towards at&t winning the trial. shery: the case has been infused with political undertones. did we learn through the legal process anything, if there was any pressure to challenge the deal from the white house? the legalthrough process we were not able to get to that place, but at&t early on made efforts to probe white house influence on the deal. the judge refused those efforts. refuted -- the judge refused to the efforts, and affidavit was filed saying that there was no influence from the white house and that this was nearly a decision based on the antitrust merits and the law. david: this is court, there is always a stay. they might not be all over it today. thank you so much, jennifer
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--jennifer rie. sign up for the balance of power wsletter, get the latest on global politics in your inbox every day. shery: coming up, more on the historicim summit. bill richardson will join us incussing his involvement negotiations since the 1990's. if you missed out on any of the chart since the beginning of the gt go is your function. live from new york, this is bloomberg. ♪
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mark: i'm mark crumpton, with first word news. republicans and democrats alike are holding back on openly celebrating the first meeting
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between the u.s. president and a north korean leader. mitch mcconnell call the leading -- the meeting a major first step, but not a decisive one if pyongyang doesn't foll through. meanwhile, paul ryan says that the only acceptable final outcome is complete irreversible denuclearization. democrats were openly skeptical, arguing that leverage was given up right committing to put an end to tter exercises in south korea. nevada and north dakota are especially in play. voters in both states will accept challengers to dean heller and heidi heitk rol of the se next year could depend on how they perfor. meantime, virginia votes in contested primaries for nine of the state's 11 congressional seats

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