i am julie hyman. mark: [indiscernible] mitsubishi is boasting nearly 10 million vehicles delivered last year. the chairman of the three automakers carlos ghosn spoke to bloomberg exclusively from paris today. carlos: we benefited in 2016 with a strong market and recovery. the single market will be 2%.ilized, forecast of the reason for which we show strong results is first, we have done a good performance in europe, not on the growth of the market that we gained market shares. we have renewed significantly our product, so we have a fresh outlook. these are the reasons for which a profit is at record level. holds,ow for what 2017 he painted in optimistic picture. carlos: we envision 2017 with optimism because even though we will continue to have a strong performance in europe, we will be able to count on growing market share and hopefully a growing market in china and in a certainhopefully at point in time, the recovery of the russian market will benefit. we have over 32% market share there. mark: he al

i am julie hyman with mark barton in london. the world's largest cosmetic company l'oreal met analyst estimates but they say 2017 will be eight "chaotic year because of political risk." bloomberg spoke with the ceo. bethis year will truly chaotic. last year was chaotic, too. [indiscernible] definitely, it is giving more and more. the beauty market was pretty good. plus 4% and our business is pretty good. we will see. expect in france for it to continue? >> i am not sure yet. i hope not. it is true that last year, france was [indiscernible] market of all, itmarket of all,. it was the worst market in the world, so i would really hope that this year will get better. and we will see. >> do you have a contingency plan in case of france's exit that europe? >> no. we would think about it later. [laughter] for the moment, i prefer not to direction.is the think it would be really bad. >> what brand specifically could potentially be impacted by this new u.s. protection? >> i do not know. it depends on what kind of protection it is. it is

julie hyman has the latest from the states. julie: there is the latest. we are looking at the stocks fall again in the u.s., not by much. we have a drift, what one trader described as listless movement in the market right now. we have push and pull from the earnings as well as anticipation for the job report tomorrow. onyou look at the s&p 500 the bloomberg, looking at the intraday charts going back for six sessions. we are down for five of the past six days, but because the movements have not been large on a daily basis over the six days, even though we are down five of six, only a decline of 9/10 of 1%. we are sideways, slightly down. and take a look at what is going on with the yields this morning, this has something to do with what is going on in the u.k. integrate expectations being brought down, we have buying going down in the bond market. that is pushing this down by three basis point in putting pressure on financial state of the things are not down individually on a percentage basis, but financials represent the biggest john overall on the u.s. s

julie hyman is standing by. bit of a decline, but it's small as we see this lack of egg movement in the s&p 500 and the other major averages, for that matter. what downside there is today has a lot to do with oil prices. look at crude oil today. we saw it take a more betweenant leg lower, 10 and 1030. it looks like the move was coincident with the highs of the day in the u.s. dollar, which this oiluncing back drop us translating into a decline for energy stocks and if people look at the map on the bloomberg, they can see that pretty clearly. energy earlier in the session in the middle of the pack. down 8/10 of 1% now, the biggest drag on the major averages. even though the overall drop is only 2/10 of 1%, you can see most of the groups are trading lower. in terms of individual stocks that we are taking a look at today, there is news pushing various stocks around. report --y reuters reported that they were in talks to acquire ppd for $8 million, saying that they are not very happy about that potential deal. meant

check and the latest on goals with julie hyman. an interview that ups is forecasting gold to go toward $1300 an ounce over the next six months. a couple of things contributing to that, including political uncertainty in the u.s. and europe. wayne gordon is executive director of commodities, saying that in a bloomberg tv interview in asia. he also said rising debt being a factor here. that is where our chart comes into play. this is the u.s. treasury, the .0 year treasury yield real yields, which he said he is watching here. we have seen a dow march reject three -- we have seen a downward trajectory. .here are other goals out there also speaking of the unrest or political uncertainty, if you isk at gold price, it already at the highest price since september. there, we seepen cold climbing in euro even more dramatically. gold prices are higher in today's session. david: our national economics and international policy satespondent -- we down with someone on the mexican side. -- on the mexico side. looku assume you have to at this trad

julie: i'm julie hyman. let's head to abigail doolittle for a check on the markets all that breaking news. abigail: lots going on, including the end of that press conference between trump and they -- abe. the dow, s&p 500, and nasdaq all high or near session highs. on pace for record closing highs, carving out a new intraday highs on the day. a bullish streak. is helping take indexes to record highs right now is the bank index. the banking indexes parking higher on the news that tarullo is resigning. related toof the top crack down on banks, so investors may see this as a positive that he will be stepping out of the way to remove regulation. we are looking at a rally for the s&p 500 not just as weak, but also for the last three weeks. up nearly 1% over this time period. a bullish streak for stocks. to round it out, we look at the dollar versus the end, it's been a while today. .- two the yen it's been a wild day. right now, with the dollar higher against the yen, abe is winning, with the yen we getting again

julie hyman is here with the latest. julie: hitting records for the dow and the s&p 500. , thea bit of economic data job openings a little bit of a dated number, or december and it fell to 5.5. decline in those jobs openings, but the november number was revised lower, and the december number was a little bit lighter than had been estimated, so a bit more color on the job market in the u.s. as the fed says we are approaching full employment. small.ements are fairly our trip to these records has been quite incremental. stats, it some of the has been 61 days since the last 1% move up or down, and the s&p 500. 62 days was the longest in this current market. sinceys was the longest 1945. if we extend into tomorrow, that will match the longest streak in the current bull market. as we talk about the day after day, this drumbeat of low volatility, this is what this is indicative of. in terms of today's session, one of the bigger moves we are seeing is in general motors. i want to show the movement in the stock which is now down

julie hyman is here. julie: there has been a interplay of the markets and politics since the election . we get this reflation trade back into affect not just for today. the s&p is up for the fifth straight session as well. movementen a sideways in the market and still we are seeing relatively small moves, less than 1% moves for the major averages. in terms of what is winning today, a lot has to do with cyclical groups, those dependent on the economy doing well. materials among the best performing stocks today. steel and nucor among them. morgan stanley expecting a rebound in steel prices, so that appears to be helping some of these big steelmakers. as we talk about reflation, we are watching the treasury market as well. money going into stocks and coming out of the treasury market. the 10 year today is seeing an increase in yields and decrease in price run about three basis points to up to 2.44%. that has been helping the financial stocks in particular, which are the leading group in the s&p 500. what is

scarlet: thank you so much, julie hyman n. his latest white house meeting, president trump spoke about relations with russia. president trump: nothing is off the table. i haven't eased anything. scarlet: let's get the latest from jennifer epstein, who's at the white house. the president said he hasn't eased anything, so clarify what exactly happened with treasury. jennifer: so he was just asked if these sanctions have -- there's been an easement of a small piece of one thing, but something that happened with some regularity, as sean spicer said during the briefing, and&that's what happened here. it was something that apparently may have even started work under the obama administration. i think we're all on high alert because of the president's stance towards russia. it seems to be much friendlier than most previous administrations, that anything that seems like it's backing off from those sanctions on russia would be taken as a really big step. and so i think this administration is going to make it as clear as they can, but th

here is julie hyman. julie: pending home sales declining coming in much worse than estimated down 2.8% month over month in january and revised down for the month of december, cut in half for a gain of only 8/10 of 1%. by this measure, not seeing very positive news. again, the unexpected decline of 2.8% perhaps suppressed by higher mortgage rates. we have seen prices go higher. that is one of the things that has been weighing on the numbers. we're not seeing stocks much change after the winning streak that happened in my absence. all three major averages trading off. warren buffett has been getting a lot of attention as he oncented in a meeting again, criticizing the hedge fund industry for high fees. just to give perspective, take a look at the bloomberg because he are looking at a hedge fund index. this is the hedge fund index and white, the viewer line in terms of when things are below this, it is negative. this is s&p 500 total return index. you have seen quite a gap about performance there of that ind

scarlet: timeout for options insight with julie hyman. is manager at me kkm financial, joining me from chicago. as we were talking about earlier in the show, an all-time high here and yet it is a very small move. have you seen anything today that confirms the record or the uptrend? >> we did see some weakness where we saw selling pressure. i heard from traders down there, the dollar-yen trade triggered and we saw a reallocation fixed income looking at areas in the bond market. we are still seeing the markets here. record territory. >> one area of strength has been in consumer staples. you're looking at one of those stocks in trade today. in part because of nielsen beverage data to what do you like about the stock here? >> there are a couple of things. moving forward, dollar moderating will help as well. standpoint,ical touching above its 50 day moving average. it looks like the moving average is starting a trend higher. from a technical standpoint, it is higher as well. >> the stock is down after the five of the past six earnings reports.

julie hyman is here with lots of breaking news. we get to the lackl get to of breaking news on that front. the dow down at the moment seven points. all the major averages in the red as investors are certainly waiting for more detail from president trump tax plan among others. the dow falling from yesterday 's record. let's talk signet jewelers. the shares are halted after they fell to their biggest one-day decline in two months after "the washington post" reported that 250 women and men at its sterling jewelers business made allegations of sexual harassment and gender discrimination instances from the late 1990's and 2000. 's. the company halted shares news pending and came out with a statement in part, saying that none of the folks in the broader class-action case of 69,000 folks had brought claims for sexual harassment or sexual impropriety. it had more to do with claims of this termination regarding gender-based pay. all of this is sort of swirling around the company. we will let you know when the shares opened back up, but that

julie: i am julie hyman. president trump criticizing nordstrom for dropping his daughter's brand from the chain. he tweeted, my daughter has been treated so unfairly by nordstrom . she is a great person, always pushing me to do the right thing. nordstrom said they would stop selling her brand citing poor sales. what this means for nordstrom is our reporter lindy ruff. these views do not necessarily reflect those of bloomberg and its owners. it is so interesting that the shares are higher, which is different than what we have seen in past situations where the president has tweeted about corporations. give us some background. >> nordstrom has been on both sides of this issue. they were the subject of a boycott. it is unclear how much of that -- how much of an influence that boycott had. this is pretty common business for companies like nordstrom. sayingmp plus people are , so what does this mean for their sales going forward. what does it mean? you spent time in court with donald trump. nordstrom is not the fir

julie hyman brings us up-to-date. julie: coming back down, but the moves remain muted. i relatively small move from the major averages. all them are trading lower with energy stocks helping to pull things down. we see crude oil prices continuing to fall. this is a chart that we have looked at very frequently. this shows the daily swings as of closing for the s&p 500. btv 5561. moves of less than 1% with this muted activity. movers when it comes to earnings and a lot of them on the downside. gilead sciences falling to the lowest level since 2014. the company says its hepatitis c franchise is fading fast. there are fewer patients left a treat and there's also more price competition as rivals have also come up with drugs for hepatitis c treatment. ismost its $9 billion, which 22% short of what analysts had been anticipating. withi out with numbers forecast below analyst estimates. humana not quite as part o poory with analyst also missing estimates. facebook was added to bank of america merrill lynch's list of top investment ideas. they are setting the potential for multip

julie: and i'm julie hyman. in global trade, australia says it will push ahead with the tpp despite the withdrawal of the united states. australia's trade minister steven ciobo told bloomberg the trade proposal remains relevant. steven: there were a lot of hard-fought gains that were achieved through intense negotiations over many years, in relation to the tpp. i don't want and i know a number of other countries don't want to let those gains slip through our fingers. that's why i put a focus on whether or not we could have, for example, a tpp 12-1, the tpp less the united states, given the u.s. doesn't want to be part of it. we will be having a meeting in chile in march of this year to canvas all of the options. i just reinforce, though, that the benefits of the tpp are numerous. they are not only numerous, but there's also enhanced benefits for small and medium-sized businesses. to trade,wer barriers lower compliance across the tpp network. i've it's important we took -- i think it's important we try to capture

this is bloomberg. ♪ julie: i am julie hyman. what'd you miss? probably not the big offer kraft heinz made for unilever. it looks like you may have missed what options did heading up to the offer becoming public. what we have here are the volume of bullish unilever options. as you can see, with this sort ish box here, we saw a surge in those options before the deal became public in the last several days, which would suggest that maybe the information, or at the very least, some speculation was out there. remember, cap times earnings came out -- kraft heinz earnings came out and there was disappointed there, not necessarily with the numbers themselves, which beat estimates, but the idea that kraft heinz was not making more deals could 3g capital has been consistently made acquisitions every couple of years -- comingraft and heinz together and now another deal. joe: matt levine says don't insider trading, but if you do, --'t buy short options ahead they stick out like a sore thumb. everyone wants to know, why isn't there more volatility in the mark

i am julie hyman. joe: i am joe weisenthal. "what'd you miss?" if you're tuning in live on welcome we want to wor you. julie: we begin with market minutes. take a look at stocks. major averages trading at records again. the russell 2000 joining the party for the second straight day. after more than a decade of not having simultaneous highs for the major averages, now we have had a string of them. a headline crossing, goldman sachs is closing at a record today, eclipsing its high from basisso both on a macro and a stock specific basis, records. goldman sachs up 1.3% on the session, the best performer in the dow since election. apple as well. hurts, apple up 1.25% on the day, another record as well. said itthe day, cigna was canceling its merger with anthem. anthem said you can't terminate the acquisition, so some back-and-forth, not clear what the outcome will be of this, but and thumb closing down .1%, cigna rising .6%. joe: let's look at government bonds, action all in the u.s., the two-year and 10 year higher on the day. :00 am, testimony from

we have julie hyman. julie: i am watching off analyst calls. let's start with the airlines. bernstein is upgrading delta airlines saying that for delta the upside might come from progress in implementing the new revenue management. for american, it only -- no longer has a downside. goes to an outperform an american to a market perform. both of those shares are moving higher. we have chipotle. the stock could fall further. they are bears on the stock. they see the food safety scare and the rebound could involve sourcing and marketing costs. we have a quick look at the bloomberg. this is a consensus on the stock. the green is the high rating. there is a lot of neutral here. we have seen a sea change in opinions on the stock. mark: thanks a lot. still ahead it, our guest is the chairman of suez. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york and london, i am vonnie quinn. >> i am mark barton. this is bloomberg markets. let's check in on bloomberg first news with emma chandra. >> the trump administration will try again today to get its controversial

julie hyman is here. julie: records for the major averages. the dow, s&p and 500 as the rally continues. investors are looking at reflation trade. we will be getting consumer price index data from the u.s. and the u.k. that should give us more insight into that very question. the s&p 500 is up for the fifth straight session, the longest winning streak we have seen since december 9. here is a five day chart with a 1.4% gain. and other assets we, we are seeing interesting trading. oil is falling today. earlier, it had been little changed and then took a leg lower. saudi arabia is cutting production by even more than it has promised a part of its opec agreement. we have the rig count in the u.s. at its highest going back to play 15. -- at its highs going back to 2015. the bond market, we are watching what is going on as we are seeing rates go higher by three basis points. there is selling off going on and we have data showing foreign holdings of treasuries are falling and we will get more on that later on in the show, but the increase in rates is

time for options insight with julie hyman. julie: thanks. joining me is todd horowitz, chief strategist joining me from the cboe out in chicago. great to see you. we have this fed statement today. we have the various actions of the incoming administration, and after, sort of, a volatility waking up over the past couple of days, it seems like it has rattled back down here. what are you predicting for the next few weeks? todd: well, you know, julie, we are in this unbelievably tight range. i think it is the tightest range in history over this period of time tied in with volatility. the market will break out big one way or the other, and the longer we settle along this tight pattern, the bigger the breakout is going to be. i believe the breakout will be to the downside. i have been on the downside for a while. i think we're going to see some selling. we have had a big rally up based on what trump is going to do, some of the regulations, things he wants to change, but he has to get those done, and we have a major problem of debt to deal with. jo

julie hyman, thanks. julie justat mentioned, joining us now is the -- a globalder of hedge fund firm. what are they going to do with this? >> i think there are a lot of synergies. softbank's business is similar to what fortress is doing. 100 are trying to raise billion dollars in a private equity fund to invest in tech companies. that is analyzing companies. at some point, they may want to diversify. from fortress'standpoint, it is a home run. your stock has done terribly over the past 10 years. thehave not done well on hedge fund side. you do a good job on the private equity side and you are about to hook up with one of the greatest investors of all time. scarlet: what does this mean with others such as apollo? are they going to be looking for a softbank like suitor? donald: there are not a lot out there. they very exciting because can tap into softbank's distribution. softbank is getting funded by some of the greatest investors in the world. that is really valuable to fortress. fortress needs a shot in

julie hyman is standing by. bit of a decline, but

julie hyman is here. have we got some movement? julie:. overall, for a market c. they are very little changed after earlier touching records once again. we see now a little bouncing around between gains and losses as we enter the 47th straight session the s&p 500 has not moved at least 1% as of the close of trading. as you can see, the dow and nasdaq are slightly in the green. let's move on to things that are moving more. mgm is one. the company coming out posting underwhelming fourth-quarter earnings. it was hurt by flatter revenue growth for mgm china and the cost of opening new casinos in the united states. there has been this choppy recovery from the gambling slump in macau and it looks like the company is not yet recovering from that. those shares down about 7% in today's trading. we are also watching kraft heinz today. those shares are also moving lower, one of the worst performing's docs in the s&p 500 -- performing stocks in the s&p 500. that company is doing deeper cuts to try to keep investors happy. it has been a target of some activism. 3g capital runs

vonnie: julie hyman, thank you. the latest out of washington is the senate finance committee and has awarded the approval of steve mnuchin and tom price. that will head now to the full senate committee, but let's look at trade for the moment. we had an interview with ge ceo immelt and we talked about how trade is becoming less globalized and more block by block these days. ambassadors talk to us about the issues. carla hills, former u.s. trade representative under resident hws, former hud secretary under president ford and a lot of dealings of mexico, to for joining us. what can you make of the current direction toward protectionism? carla: it is a big mistake, particularly what our country and globally. we have opened our markets since world war ii, and asked the results, or gdp has climbed $1 trillion according to the peterson institute for international economics, raising the average family income by more than $1000 and we did not , with 5%urn that off of the world population producing about 20% of its output, we

this is bloomberg. ♪ julie: this is "bloomberg markets." i am julie hyman. oliver: i'm oliver renick. snap is preparing for the biggest social media ipo in years. caroline hyde joins us from san francisco to break the week in tech down for us. carolyn: so much to get our teeth into with sarah frier and alex webb. starting with you, sarah, all about snap. i spent 30 minutes of my day today watching the new video, the roadshow video. what a day trying to say here? trying toy are explain what makes them different from facebook and twitter, because these investors are going to come into the roadshow and their first question will be, like, what are the things on the market i can compare this to to make sure the evaluation is right, the stock's price right? what snap is doing in the roadshow is to say we are different from those guys and we cannot be compared apples to apple's. we don't have plans for international growth and to be ubiquitous in that way. we don't want people on a platform to has friends as many as they possibly can. we wanted to be a small commun

julie hyman is here, with the latest. julie: there has not been any reaction in airline stocks to some of these headlines coming out from the meeting. we are seeing a bit of a bounce back in u.s. stocks. all three major averages up between a fifth and a quarter of 1%. let's talk about what is driving of the -- driving those gains. we are still in the midst of earning season. if you look at some of the big earnings reports, you have viacom on the rise and whole foods on the rise, but coke and twitter utley low. -- oddly low. coca-cola coming out with numbers that disappointed. the company's earnings may declined as much as 4% in the coming year as it does a big overhaul. , interesting that the stock is on the rise because the company is forecasting same-store sales for this year that are not offering much hope of a recovery, but they are decreasing the number of stores. of course, twitter coming out with revenue that is rising at a lower rate and also forecasting not much growth in the current year, for profit. we will dig

julie hyman has a look at what's moving. julie: it looks like we are eking out gains at the moment on the three major averages. s&p bouncing between gains and losses. any gain would mean a record on a closing basis for the major averages. we will see what yellen's testimony brings and if that pushes markets around. in the s&p 500 i wanted to look at the best and worst performers. on the plus side we have procter & gamble after nelson pelt and try am took a stake in the company according to filings and according to various reports at stake could be as high as 3.5 million dollars. analysts are questioning why the stake is coming now after p.m. to ge has done significant paring down of its brand. aig wholipside we have has lost wide to about $3 billion. pulse and reporting filings that it cut its stake in the company so though shares are tumbling. the other assets we're watching ahead of yellen not just ahead of yellen after the cpi data we got that showed the biggest lift in consumer prices since february of 2015 some again of

julie: i am julie hyman. welcome to bloomberg markets. from bloomberg world headquarters in new york we will take you from san francisco to washington and athens in the next hour. here are the top stories on the bloomberg and around the world. u.s. stocks reversing earlier declines although it looks like they are little changed at the moment. treasuries are rising for a fourth day ahead of a $23 billion auction of 10 year notes , and gold is hitting a three month high. stand druckenmiller's bet on the precious metal pays off. he sold his gold position on election night and bought it back. what made him change his mind? is a 32nd anniversary of the nasdaq. it is hitting another all-time high. friedmanpeak to adena

with julie hyman right now. 227,000 versus the 180,000 estimate. that was the number of jobs added last month. the jobless rate at 4.8%, taking up. the real shocker, perhaps, average hourly earnings, and only 0.1%. worse than estimated. decemberthat, a average hourly earnings growth percent fromto 0.2 0.4%. november revised slightly higher to flat. average hourly earnings was a a gain of only 0.1%. participation rate at 62.9%. kicking up a little bit, and matching the september level. the average work week ticking up slightly. unchanged, however, from a revision in december. where do we see the increases in jobs? interestingly -- clothing, electronics, furniture stores. construction saw the highest number of job gains since march. financial activities as well -- real estate insurance and banking. i should mention payrolls were revised down in november and december by a net of 39,000. we got benchmark revisions as well -- something they do annually. of march, 2016, a decrease 60,000 nonseasonally adjusted. relatively small there. jonathan: the marke

julie hyman has a look at what's moving. julie: it looks like we are eking out gains at the moment on the three major averages. s&p bouncing between gains and losses. any gain would mean a record on a closing basis for the major averages. we will see what yellen's testimony brings and if that pushes markets around. in the s&p 500 i wanted to look at the best and worst performers. on the plus side we have procter & gamble after nelson pelt and try am took a stake in the company according to filings and according to various reports at stake could be as high as 3.

i'm julie hyman. vonnie: i'm vonnie quinn. the peso has been -- it's able to a record after president trump's they three and batted by his efforts to convince manufacturers to reduce more in the u.s. instead of mexico. the outlook of the peso comes down to who pays for the wall. not only that, the decision today and we learned in january the inflation rate in mexico climbed the most in 21 years. isabella is joining us from mexico city, our emerging markets reporter. is not the prettiest of pictures for the currency right now. isabella: that's right. one analyst was telling me how things have gotten off to a very rocky start for mexico. we have seen a sharp depreciation in the peso to a record low in the first week of january. now we see inflation hitting 21 year record high. julie: that analyst you talk to it mattersked about who is going to pay for this wall the president trump is planning. that will have an effect on the currency so walk us through that. isabella: that's right. is currentlytegist the top forecaster for the m

here is julie hyman. julie: pending home sales declining coming in much worse than estimated down 2.8% month over month in january and revised down for the month of december, cut in half for a gain of only 8/10 of 1%. by this measure, not seeing very positive news. again, the unexpected decline of 2.8% perhaps suppressed by higher mortgage rates. we have seen prices go higher. that is one of the things that has been weighing on the numbers. we're not seeing stocks much change after the winning

i'm julie hyman. mark: welcome to bloomberg markets. ♪ we are going to take you from new york to london and also cover stories in washington, france, and japan. before we get to those, we have breaking data. consumer sentiment did reach a 13 year high in january. >> the survey was calling for a rating of 98. it came in at 95 .7. .e dig in briefer it appears a cold in the month of february. we will have more on this. as far as the effect on averages, we are still looking at green from the major averages. it is worth noting after yesterday's record

julie hyman is joining us with the latest. julie: we are seeing stocks pulling back. president trump saying this morning there hasn't been that much coverage of the records reached in stocks. obviously he hasn't been watching bloomberg television, because we have been covering it quite a bit. pulling back a bit after that string of records we have seen for all three major averages, as we get now well above the average for price to earnings ratio. investors taking a bit of a pause after the recent rally that we have seen, so all three major averages are lowered to some extent. if you dig into on the imap what groups are on the move here, we some of the sort is more cyclical groups that have been gaining in recent days, now falling back. energy lower with oil prices, financials down as we are now seeing a bit of a pullback in bond yields as well. and those interest rates, sensitive groups that have been hurt in recent days as the 10-year has been rising, are flipping over to your stealing -- the real estate, telecom shares at her on the rise, but not enough to offset th