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tv   Bloomberg Markets Balance of Power  Bloomberg  March 25, 2019 11:00am-12:00pm EDT

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headquarters, in for westin, i'm jason kelly for a special edition of "balance of power." the mother report clearing president -- the mueller report clearing president trump of any collision with russia during the 2016 campaign. we are going to have all the angles, from the legal to the political to 2020. for the latest on how washington is reacting, let's go to chief washington correspondent kevin cirilli. probably haven't slept in 72 hours, and that's how we like him. kevin: how are you? the white house is declaring victory, and special counsel are to the president kellyanne conway and press secondary sarah sanders out in full force, saying that on the issue of collusion, this is a settled score, and endpoint, trying to turn the page on this particular front. then, in regards to obstruction of justice, i can tell you that
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democrats are calling for more transparency. jerry nadler, chairman of the house judiciary committee, has said he is going to call attorney general when a party has to fight in the -- attorney general william barr to testify in the coming days or weeks ahead. they are trying to get the mueller report made completely public, but it is unclear whether or not that will be the case. help me understand how unified the democrats are. are they all singing from the same songbook? kevin: no they are not. a differentiation comes in with the democrats feel they should
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move on, or continue to double
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and star and -- to the porn star
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s and playmates. we know right now that obstruction is still in play, at least in the political context, and there's a myriad of other investigations going on in other districts, from d.c. to the southern district of new york. i think those things ultimately may prove to be of more jeopardy to the president or his inner circle than a mother case -- then the mother case -- then the case.r jason: and about the speed with which attorney general barr made his conclusion? guest: i don't know that i was surprised. summary of a brief long investigation. but whether or not there was a legitimate call for a special counsel paste on his belief ining, and is
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the fact that the president cannot be considered for the crime of obstruction, it seems like you took the vagary of robert mueller and twisted it to his own predetermined theory. i was not totally surprised, but also, you look at this confluence of events that's happened where you have a new ag , his predetermined thoughts it.t it, his memo about you've got rosenstein, who's been monitoring this. there's been coordination through the department of justice, and any short amount of time since barr has taken office, we are suddenly at the end of this investigation and this blanket determination on the obstruction case that nothing is wrong. i have every reason to believe he's an honorable guy. ins acquitted himself well his past service to the country. i have to believe he will do the right thing and let this report come out and not leave the cloud
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cover-up over his long, storied, and honorable political rear. jason: michael moore, -- political career. jason: michael moore, inc. you so much. for a check on the -- thank you so much. for a check on the global markets, let's go to emma chandra. emma: in the last 30 minutes or so, we've been a bit of a dramatic turn around when it comes to the dow jones and the s&p 500, and indeed the nasdaq, off of their lows. the nasdaq still trading in the red by about 1/10 of 1%. the dow jones and the s&p 500 in positive territory. let's take a look at how the s&p 500 has performed through the day. we should be able to show you an intraday chart. shortly after we opened in new york, we fell back to the red.
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then around 30 minutes ago, we saw that big bound upward into the green. not a clear indication of why that might be, but we did bounce ,round 2790 for the s&p 500 suggesting there maybe some support at that level. talking about technical levels of support, i want to show you a chart where we can talk about the s&p 500 and that key level of 2800. we are now back at 2800. we dipped below that earlier in the session. it is worth keeping eye on that level throughout the rest of the session to see whether we can build upon that to go beyond 2800, or if we are going to fall back down below it. finally, i mentioned that the nasdaq was still in the red. we are seeing tech falling. apple is falling 1.5% ahead of the big event later today, where they are about to announce the reinvention of the services company.
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we should see a video streaming app announced. also looking at the tech sector, the semiconductor sector, nvidia and texas instruments falling. they've got some concerns about chips for the second half of the season. jason: emma chandra london, thank you so much. the molar 22 months investigation lasted, ending -- the mueller investigation lasted, ending with a bit of a murmur. we have our political panel coming up next. this is bloomberg. t. this is bloomberg.
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♪ jason: this is a special edition of "balance of power" on number
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tv -- on bloomberg tv. courtney donohoe has first word news. press secretary sarah sanders says president trump would approve of the full mueller report being released. chinese president xi jinping continues discussion with french president emmanuel macron. the leaders are expected to sign about 15 business contracts worth several billion dollars. france has sought new investments benefiting prince companies -- benefiting prince companies -- benefiting french companies.
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global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. jason: thank you. life after mueller. 22 months later, the special counsel investigation is over. one of the biggest questions that remains is where washington goes from here. we are joined by our political panel. former spokeswoman for the caliph when he republican party, and -- the california republican party, and al, formerly of the finance committee for hillary for america. from a democrat's perspective, not a great weekend. >> there's no other way to put it. it was clearly a victory for president trump. there's obviously a lot that needs to be learned.
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sarah sanders says we should release the report to the public. that is exactly what should happen next so we can evaluate whether ag barr's letter is fair and objective. my believe is the president likely engaged in sketchy or illegal activities, but the attorney general was unwilling to say so. now what we have to do is look at the totality of the report and mccarran analysis. -- make our own analysis. n -- jen, pretty good weekend for the gop. what do you make of the reaction? >> i think it was a great week and for the gop and for america, particularly the findings that no american took russia up on its offer to collude in an effort to meddle in our
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elections, so i think that was a good thing that both sides can be proud of. waspublic opinion definitely not going any democrats' favor here. if democrats are smart, the party will listen to what the polling tells us. going into the final weekend of the molar report, 50% of americans were believing that president trump was actually a victim of this witch hunt, and that phrase was actually used in the polling. that is pretty significant. you also look at the polling as it relates to the house agenda to impeachment. that polling was down 10 points at one of the lowest numbers it has been, down 10 points since october, down to 28 percent support by americans for impeachment proceedings. himself look at mueller , another erosion in his polling numbers. it is kind of odd that we are polling the popularity of the
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special counsel, but nevertheless -- jason: this is america in 2019. [laughter] himself: -- >> mueller was down another five points in his popularity and trustworthiness. but the bottom line is this. if robert mueller had wanted to have an indictment, he would have had an indictment. if there were some thing to see, he would have done that. we heard from democrats in the lead up to this. if there was any shred of evidence of russian collusion, robert mueller is the guy with integrity to get to the bottom of it. let's remember he was a clinton appointee in a democrat administration. this would have been the guy to have found it. robert mueller is not shy. if there is an indictment to be had here, he would have done it. jason: al, how much do you worry about the democrats essentially advice andjen's doubling down or continuing to
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go down this road, even as it sounds like the country may be ready to move on and have a bit of investigation fatigue? >> clearly that is the case. i do think democrats in the house will continue to investigate the president once this report is released. i'm sure there will be avenues of investigation that are justified, and objectively so. i will say i think there is a silver lining in this beyond the fact that it is good for the country that our president wasn't found to have illegally colluded. the silver line for democrats is perhaps some on the left and far left will abandon the fantasy that they can somehow bring the president down and remove him from office. that is not going to happen. now what we can and should do is focus on the issues of importance to the american people and the issues that democrats are good at talking about like minimal wage, health care, taking care of education for early childhood and college, and making sure that americans are focused on their pocketbooks
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and families and have a reason to vote democratic in 2020. jason: it is an interesting point as we look at it herein bloomberg. ink spilled and a lot of attention paid to the yield curve. the recession worries do seem to be much more front of mind. from a 2020 perspective, does this make it less likely that the president will be primary? -- will be primaried? >> the president is the republican party's choice. the rnc, even before the report came out, said he is our guy. i don't think you will see any competitor to this. if the result had gone the other way and there was still this shadow hanging over the president, i think you could i seen a sturdy challenger there. but i think that they has passed. is right, the democratic party has a lot of ideas right now.
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i am not saying they are great ideas. the green new deal is on the fringe. but the democratic party traditionally is the party of ideas. as a republican strategist, i am usually playing defense against those. the democratic party, if they want to win, they got to get back talking about ideas for moving the nation forward. they are not going to be able to do that if they are still investigating this russian fantasy and still hurting over the 2016 election. jason: al, does this give any advantage to a subset of the democratic field, this sort of new landscape we are looking at? >> i do think it puts an emphasis on candidates who can focus on the future. those who are talking about restoring the dignity of america , and we got to get rid of the president. those types of talking points, still resident on the left, are not going to appeal as much to the middle.
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for the same reasons it is less likely the president is going to suffer a serious were public and challenge, it is more likely -- a serious republican challenge, it is more likely the democrat will turn to a candidate with ideas and less on bringing down the president. secondary clinton perhaps focused too much directly on donald trump, and as she and 16 republican candidates found out in that cycle, that strategy doesn't seem to work. jason: we are very grateful. mottur, thank you so much. we are still talking about brexit. parliament debating changes in leaving the european union. prime minister may is due to speak shortly. this is bloomberg. ♪
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jason: it is time now for the stock of the hour. viacom moving higher. emma chandra is in london with the story. emma: rising almost 8% earlier in this session, now trading at its highest since february last year after viacom resolved its contract dispute with at&t. we heard about this morning, remember, there has been a big war of words between the companies up until that point. it looks like a number of at&t's directv customers could lose access to viacom channels like nickelodeon, mtv, comedy central. we know there is a lot of pressure here for a number of subscribers of satellite and cable tv companies to squeeze more value out of subscribers as that pool becomes smaller. the number of broadband only homes in the u.s. is growing, set to hit 41 million by 2023. nevertheless, it seems this
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dispute has now been resolved. we are not entirely sure of terms or what has been offered by either side, but certainly viacom had said previously it made a series of offers to allow at&t to lower customers' bills. jason: emma chandra from london, thank you. up next, israeli prime minister benjamin netanyahu visiting the white house. we will bring you the latest headlines. from new york, this is bloomberg. ♪
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>> this is balance of power on bloomberg television. i am jason kelly. we go now to courtney donohoe. courtney: russia is urging president trump to reset
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relations between the kremlin and the white house. the mueller report found no evidence of collusion between moscow and the trump campaign the president called the 22 month inquiry into russian interference and illegal takedown that failed. iran floods in southern have killed 17 people and injured more than 70. most of the people killed were trying to take video on their phone. several provinces were under alert for flooding. the floods were a possibility in tehran as well. british prime minister theresa may still has not committed to bringing her european union divorce deal back to parliament. if she can win approval for the deal on her third try, the u.k. will leave the eu on may 22. if not, they have until april 12 to come up with a new plan. a spokesperson says the prime
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minister will only bring the vote when she believes she is in a position to win. goldman sachs pays women in the u.k. slightly less than half of what male colleagues earn on average. the bank last week announced measures to promote gender equality in pay and senior representation. british finance firms have pay gaps that are more than twice the industry average across all of groups. 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 courtney donohoe. this is bloomberg. thank you so much. benjamin netanyahu is in washington. he planned to show off his diplomatic stature ahead of april 9 elections and to speak at the annual aipac conference. he has been forced to cut his visit short due to a rocket attack from gaza that hit a home
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near tel aviv. we welcome an assistant professor from american university and the author of why hawks he come dubs -- become doves. so nice to have you with us. >> thanks for having me. >> just a few blocks away from where you are, the president and prime minister set to meet. what is top of the agenda? >> this was supposed to be prime minister netanyahu's shining moment. he is here on a visit to washington, a place that is familiar to him. he was looking forward to a photo op with president trump, recognition of novereignty -- goula sovereignty, and in aipac speech where he had a friendly audience where he could show office .mpressive oratory
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instead, his trip is cut short because of rocket attacks from gaza and corruption scandals at home, a looming indictment. he is gone to get his follow-up with president trump and the go lan recognition. >> talk if you can about that because that came as a surprise to many. it came from a tweet by the president and was seen by many a bit of essentially political juice for his friend netanyahu. how do you read it? >> i think that is correct. it did come as a surprise. the way in which this decision was made is disturbing because it was done via tweet without any kind of formal policymaking process. the state department was not consulted.
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i think many of his own aides were not consulted. everybody was caught off guard. gift to hisly a friend netanyahu, who is facing a tough reelection battle in two weeks. i think you need to understand donald trump's decision as a function of his being motivated by domestic political concerns rather than geopolitical factors. for president trump, appeasing the evangelical community, and this decision is very important ,o the evangelical community was significant because they are a key part of his base. want to ask you about that. you talk about his political base. it feels like the political view of where israel sits politically is changing in the u.s. it feels like a bipartisan issue
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for support is changing in the trump administration. >> it has been changing slowly for a while. israel had traditionally been a bipartisan matter. republicans and democrats supported the state of israel. it was never seen as a partisan affair. in the last decade, we have seen of aft in part because growing progressive movement within the democratic party and a rift within the democratic party as to how to address israel, which has become more conservative, more nationalistic, more religious. i think netanyahu himself bears some responsibility for this growing partisan divide. in large part because he has interfered time and again in our domestic politics. president endorsed
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obama's main challenger, mitt romney in 2012 by inviting him to israel that summer. addressed a and joint session of congress in march of 2015 in order to undercut the iran nuclear deal, which was president obama's signature foreign-policy initiative. he has taken steps and made statements, and he has also conducted himself in a liberal illiberal ways at home that have made a lot of american progressives and american jews uneasy. from american university in washington. in london, prime minister theresa may is speaking in parliament. she says the eu has repeated the brexit deal cannot be reopened. let's listen. >> there is a further risk when
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it comes to brexit as the u.k. is only one half of the equation. the votes could lead to an outcome that is nonnegotiable with the eu. no government could give a blank check to commit to an outcome without knowing what it is. i cannot commit the government to delivering the outcome of any vote held by this house, but i do commit to engaging constructively with this process.
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>> happening now in london, you can see pictures of prime minister theresa may. she is speaking to parliament. she has said that the eu has repeated the brexit deal cannot be reopened. let's check in on the bloomberg
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and the headlines you are hearing from theresa may. she cannot commit to delivering the outcome. she does not know whether she can convince her colleagues to support her deal. what we heard earlier was that she will not bring a deal to another vote if she does not think she can win. she also points out that the votes could lead to an outcome that the eu ultimately rejects, and reiterating that her counterparts in the european union has said a brexit deal cannot be reopened. we will continue to monitor those headlines. jeremy corbyn speaking as well to parliament. the twists and turns continue in london. probe, to the mueller washington is weighing in, synthesizing everything they read over the weekend. >> i think mr. giuliani would be
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ise to wait until the report made public before making any announcements about medication and likewise about how incriminating it is. >> obviously, we know there was some collusion. >> there was no collusion with russia. there was no obstruction, none whatsoever. it was a complete and total exoneration. >> let's welcome intelligence committee member democratic representative from illinois raja krishnamoorthi. thank you for being with us. >> thank you for having me with you. >> where do we go from here? >> i think as adam schiff mentioned in the previous segment, we need to see the full report. especially because special counsel mueller said he could
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not exonerate the president with respect to this particular issue, we need to see the report. why are they holding this report back? obviously needs to be scrubbed for sensitive information from but what is in there that they don't want us to see? the last conclusion i have is that what we have in terms of our scope in the intelligence committee is far broader than what special counsel mueller faced. we have to look at the counterintelligence issues and make sure nothing like what happened in 2016 happens again. >> how does this change the scope, the pace, the focus of investigations you have ongoing? >> i think it definitely puts the emphasis on counterintelligence issues and obstruction of justice. with regard to counterintelligence this week,
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we are having felix seder come y as to whether trump tower russia for anybody affiliated with donald trump may have been compromised in the process. these are important issues that concern national security. >> when you talk to folks back home, how much do they tell you we are tired of all of these investigations? we want to move on with the business of the country. are you getting any reaction to continuing down this road? >> no. i had 25 town hall meetings in the last two years at public forums. within the first five questions ield, and this is a suburban district, we get questions immediately about why theyou not pursuing
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investigation even more vigorously with regard to protecting our democracy from russian interference and interference of foreign adversaries. >> our understanding is that attorney general barr will be briefing the senate judiciary committee coming up in a few minutes. do you expect the attorney general will brief the house as well? would you push for that? >> i hope he does. i think that is only appropriate in light of his letter, especially what he had to say with regard to obstruction of justice. i think it was not the best prose i have read in a long time. i think he needs to explain why he did what he did with regard to basically decided there was no obstruction of justice and at the same time not providing any details in the report or underlying findings. i think special counsel mueller will likely be interviewed as
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well. >> safe to say that the democratic caucus has not been completely unified on how to proceed in terms of this president, whether the investigation, the politics of and the rhetoric candidly. how do you ensure the caucus stays unified? >> i think the caucus has been unified on at least one point, which is we have to continue with our oversight mission. ongoing withs are regard to different issues, in some cases having nothing to do with this particular investigation. i think we are unified on that point at least. about much do you worry beyond your district people blaming the media, blaming you for continuing to go somewhere
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that this has been settled. we saw the report. we need to move on to other issues. report, thatthe would be one thing. the fact that we have not seen the report, and there are so many open questions means our work is not done. we also have to deliver on pocketbook priorities of the american people. that is why on the oversight committee, on which i said, we are -- sit, we are pursuing prescription drug price reform, the -- we are investigating the possibly of this pestis based talk about her. asked best dose >> to that exact point, how much do you worry about the hyper hip that comes in the
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wake of this report limiting your ability to get things done? aboutm always concerned partisanship in washington, d.c. we have an oversight role. i know the president calls it harassment, but the american people elected us to be in the majority in the past election precisely to serve as a check and balance on the executive branch. while at the same time trying to deliver on those pocketbook priorities, such as trying to lower the cost of health care, clean up corruption in washington, d.c., and to make sure that people's pay rises and doesn't remain flat. >> our thanks to the democratic representative from illinois. >> coming up, our conversation with lynn good. coastlks atlantic pipeline project, climate
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change, and much more. nge, and much more. this is bloomberg. ♪ his is bloomberg. ♪
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>> this is balance of power on bloomberg television. i am jason kelly. duke energy is one of the largest power companies in the u.s. our own alix steel spoke to duke energy's ceo here in new york
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city. they talked about the way forward on the $7 billion that the coast pipeline that would carry shale gas. >> the pipeline has been under and has undergone the most complex of review of any pipeline. we have been challenged over the last couple months with findings in the fourth circuit court. what gets lost in this conversation is that pipeline is so important to our customers to bring low-cost natural gas, diversification, flexibility, and economic development in the eastern part of north carolina. we will work through these challenges. alix: what would make you not committed? >> i think the ongoing delays could be a challenge. i look at what we are experiencing as one of the challenges of building infrastructure. we are committed to working
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through it. we believe the environmental review is second to none. the benefit to our customers are so extraordinary we believe it is important to keep pushing forward. alix: what about the cost impact? costs have been creeping up as delays have. >> i am confident based on what i see now that we are doing everything we can to minimize costs during this construction suspension that is underway. that is part of the process of building infrastructure, managing that in-service date, managing the costs. alix: talk about a plan b. if delays are too long, you still need to get natural gas there. >> we would have to come up with another project. i think about mobile distribution system, which is our delivery of gas to that
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area, the atlantic coast pipeline was developed with a timeline in mind. if we cannot get it in place, we will need to build other infrastructure to support that, probably from eastern to western north carolina as opposed from the north-south. that is something that remains plan b. we are committed to the atlantic coast pipeline. alix: how does that go? >> it is under contract. we have negotiated contracts with customers that are in place today. we have opportunities to reset price if there were extraordinary delays in the project. we are looking forward to what makes the most sense for customers and investors. alix: is there a time frame or cost that says you are out? $9 billion? you have to have those risk models. >> at this point, i don't have a specific thing i would share with you. because we have such confidence in the environmental review, the
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commitment to our communities because this represents credible investment and economic development, that is where our mind and heart is right now. alix: moving on to a broader impact of climate change, what has been your objective take on what is happened with pg&e in california and the wider repercussions? >> the wildfire situation in california has been challenging. my heart goes out to the communities that have been impacted. in the southeast, we have been impacted more by hurricanes. the wildfire risk is not front and center for us. we think about that risk is something we have to manage. we have continued to invest into our great for hardening and resiliency and having the response to get power back as quickly as we can. adaptation is going to be important as we continue to work through the weather events that come in the future. >> that was duke energy ceo lynn
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good speaking with alex steele. -- alix steel. let's talk about the real good everyone is focused on. breaking heart, not brackets. againstversity university of central florida yesterday. it was a squeaker. ownhed by the coaches prodigy. it was an al qaeda. now down to the sweet 16, and is much as everyone loves the cinderella's, there are not a lot of surprises left. oregon is the only potential giant killer still left standing. after the second round, there is board.leader andersonson -- dwight picked a perfect list for the sweet 16.
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duke, that is the pick of everyone else at the top of the bracket, including gary cohn. they are both tied for second. you can follow along with those kinds of business and finance online and check out our own bracket and your own bracket on the terminal. bank said tosche overresistance from qatar his breakup with commerzbank. that is breaking right now. coming up, more from brexit. we will have more on that on the european close. this is bloomberg. ♪ ♪
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>> 30 minutes left in the european trading day. vonnie: this is the european close on bloomberg. let me update you on one story that broke a couple of minutes ago. abouttaris are concerned what is happening with the deutsche bank and commerzbank potential merger. that looks like it is progressing. doha does appear to have some concerns about this. the deutsche bank stock dropped and then popped back. the stock is down around 1% at the moment. a little bit of movement around on deutsche bank and the qataris having concerns. that remains a significant issue. let me take you back to the broader markets.

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