here is first word news with mark crumpton. mark: president trump is defending the way he handled his meeting with vladimir putin, tweeting that the meeting with the russian leader was even better than the meeting with nato but wrote that "sadly, it is not being reported that way." russia is trying to undermine democracy, those words today from house speaker paul ryan. he told reporters the u.s. impose tough sanctions on russia but it doesn't have to stop there. the foreign affairs committee or financial services committee and the senate bank committee think there are other sanctions we have not yet placed upon russia, i am more than happy to consider those. mark: this because says he believes russians did interfere with the 2016 presidential election, and his attention in congress is to make sure "they do not get away with it again." former president barack obama made his highest profile speech since leaving office, urging people to respect human rights and other values under threat around the world. he spoke at a ceremony mar

david: we turn now to mark crumpton. mark: centre rand paul says you will support president trump supreme court nominee, judge brett kavanaugh. senator paul wrote he made up his mind after meeting with brett kavanaugh in person, must beach nominee judged on the quality of their character and opinions. the lawmaker also cited what he called rick kavanaugh's strong to -- what he called red kavanaugh's-- brett strong defense of the first and second amendment. talks on nafta may be close to wrapping up. claimed --oss praised mexico's president for appointing a new trade team. president trump says you might pursue a two way trade deal with mexico before negotiating with canada. he mexican president says wants the trilateral structure of nafta to stay in place. a lawsuit is demanding $100 million from the owners and operators of a duck boat that sank in missouri. it claims it put profit over safety when the boat sailed on the lake despite the weather warnings. the suit was filed on behalf of of members of the family killed in

let's get a check of the news with mark crumpton. mark: thank you. president trump is taking to aim at two familiar targets in the u.s., amazon and the washington post. both are controlled by the richest person in the world, jeff bezos. the president says the post is nothing more than an expensive lobbyist for amazon. he says many people believe amazon should face antitrust charges. shares of amazon are following today. a judge in alexandria, virginia, is considering postponing the trial of paul manafort. the judge says it is too late to review evidence produced by the government. manafort is charged with failing to disclose offshore accounts and must also defend against charges that he lied to banks to secure $120 million in loans. in toronto, police say a gunman walked along the street sunday night firing a handgun into restaurants and cafes, shooting 14 people and killing two. the gunman was killed in a shootout with police. the mass shooting comes three months after a driver of a van plowed into pedestrians on a toronto sidewalk, killing 10 and i

mark: i am mark crumpton. questioning fbi agent -- quickly spiraled into chaos as republicans demanded he answer questions about the russia and his disparaging phone text about donald trump during the 2016 presidential campaign. >> you are overruled. >> point of order, let me continue, your testimony is it essential to the hearing. >> the point of order is not well taken. >> you don't know -- >> the witness will answer the question. >> attorney-client privilege. he has been advised not to answer -- suspend. >> are you going to just make up rules all along -- while you go along? >> he said let me be clear under oath, not once in my 26 years in my -- have my personal opinions action iany personal took her paul ryan distancing himself from president trump's friend agenda. he says the president passes aggressive tariffs moves are a and will drivebs declines in american influence and also questioned the president's decision to withdraw the u.s. from the transpacific partnership, a multinational agreement to try --

i mark crumpton -- i'm mark crumpton, this is bloomberg. julie: from silicon valley to shanghai, tesla is moving overseas. the tech giant signed up a luminary agreement rivaling its current u.s. production. the chinese plant will have a 500,000 car capacity per year eventually. joining us by phone is head of the global technology research team. he is a bull on the stock. i believe he has a $530 price target on it. arere, i'm guessing you pretty confident they can get to 500,000. madewas a promise they from the california factory but they are far from the goal. >> absolutely. give me a timeline, i'm confident we will eventually get to 500,000. >> how eventually? >> that is the question. this morning, the timeline was to were three years. that as an aggressive timeline. you know how elon musk likes to set very aggressive timelines so i think if we bet on three or four a year instead of two or three years, we are probably safe to ramp up. remember. it is not going to be a ramp-up to read is not going to be from zero to 500,000. we can probably

i'm mark crumpton. this is bloomberg. ♪ david: still ahead, we take a look at what has turned out to be a disastrous day for facebook. shares down over 18% so far today. live from new york, this is bloomberg. ♪ david: this is bloomberg markets talents of power. shery: it is time for the stock of the hour. facebook headed for its worst day on record today, plunging nearly 20% after reporting a disappointing second-quarter. i don't want to take all the credit, but i did get rid of my facebook account. it was really hard. it's like getting rid of part of your life and your friends. i feel a little more disconnected to the world. >> it's huge. there are privacy concerns, political concerns for facebook. they are having a really bad day, the a guest, worst market cap loss ever for an american company on record. $120 billion in market cap loss. second-quarter results actually did beat, but it's these other 42% thisrevenue quarter year-over-year. seems like a good number, but lower than analyst estimates.

i'm mark crumpton, this is bloomberg. lisa? thank you, mark. facebook's face planting today after disappointing result. shares of the largest social media company are plunging, now all eyes are turned toward amazon, which will release its todayved -- its results after the market closes. joining us now is brad stone, head of global technology coverage for bloomberg. .rad, we love having you on thank you so much for being here. we are looking at amazon shares, down about 2.5% before they report earnings later today. why? brad: anticipation, maybe nervousness because of facebook. 140%,s a stock that is up 150% over the last year and a half or so. so expectations are actually very high. this is a parentally unprofitable company that has actually been quite profitable for two, going on three quarters. analysts are expecting over $1 billion in profit, and remember last year this quarter, we were talking about $200 million in profit, so a big change. has donebut the stock very well, trading on a record high yesterday as well. $1863 plus some change. w

i am mark crumpton. this is bloomberg. david: thanks, mark. president trump came to the office promising to be about economic growth and job creation and his first year with largely given over to getting tax cuts done. but this year, he shifted to trade disputes. how do these two things fit together? welcome tim phillips, the president of americans for prosperity. mr. phillips joins us from washington. welcome. tim: it is good to be here. david: let's start with the announcement you made at the end of last week. that is about the rescissions oppose oh -- proposal. explain why that is important to you. the president did the right things we took the step of saying, let's get rid of billions of dollars of the spending in the omnibus milling, good, common sense fiscal responsibility thing to do -- the president was right. some renegade republicans joined in defeating the very modest rollback of spending. holding the task of democrats and republicans who voted against the president's commonsense measure to get rid of some of the spending that is hu

i am mark crumpton. this is bloomberg. ♪ shery ahn: live from bloomberg world headquarters in new york, i'm shery ahn. >> welcome to bloomberg markets. shery ahn: here are top stories we are following from bloomberg and around the world. the central bank raises interest rates for the fourth time in a european the fallout from president trump has history policy. tesla portfolio manager james anderson live from sun valley, idaho. and confrontation on the agenda. president trump got off a prickly start with angela merkel and criticize germany's's support for a gas pipeline from russia. a quick check of major averages u.s. stocks off the session lows with major averages in the red right now. the s&p 500 ending the longest rally in a month. sectorsds lower, most are in the red on the s&p 500. materials and energy leading the gains. we have a push and pull between earnings season in the u.s. and tensions rising with china not to mention we had data this morning with u.s. wholesale rising for the most in more

i'm mark crumpton. this is bloomberg. david: thanks so much. representative's holding hearings today about proposed tariffs on additional imports from china. although many companies have objected, the administration needs these to get to that $50 billion overall it has promise. we are welcoming and adjunct professor at new york university and the author of "what the u.s. can learn from china." hearings, wethese had hearings on the initial 34 billion dollars. is there any prospect the administration will not go forward? >> it looks like the trump administration is dead set on implementing these. to correcting it perceived wrongs from china. they have said they feel the deficit has grown too large. honestly, i think he is trying to generate jobs for americans but he is going about it the wrong way. he is stuck with this. so, i expect it will go forward. in the meantime, i do not think this is going to accomplish much for our economy. in trying tos convince companies to relocate supply chains back to the u.s., it is going to be costly to rebuild h

i'm mark crumpton, this is bloomberg. lisa? you, mark. stocks might be in the red today, but the s&p 500 is still on the best -- still on track for its fourth weekly gain in a row. now, we assess the week that was and what lies ahead. we are the half-point, give or take a little, in the earnings season. where are we come from -- where have we come from, where are we going? >> the reaction has not been as positive as somewhat have thought. we have 255 companies in the s&p 500 that have reported this earnings season on aggregate basis. they are all coming in above expectations, slightly. we were looking for 20% or so growth on the sb 500 on eps basis. we are around 21. beyonde you get on -- those numbers, it is a disjointed stories. companies are rewarded if they are beating on margin. not on guidance, eps, or revenue. what you are looking at on this chart is the expectations going forward. --l asked expectations analyst expectations are holding up, about where they were at the start of the earnings these in. they have not dropped down, but

i'm mark crumpton. this is bloomberg. ♪ shery: live from bloomberg world headquarters in new york, i'm shery ahn. i'm amanda lang kerry welcome to bloomberg markets to we are joined by bloomberg and be in and bloomberg audiences. your the stories we're following from around the world. happening now, president trump is scheduled to meet with the european commission's president after months of tension over trade. tariffs wreaking havoc on carmakers. the cfo of general motors speaks out about the threat. saving gets ready to spend. deutsche bank ceo tells us why he is considering expanding again, months after making the cuts. let's get a check on the major averages. the trade talks have been in focus, keeping the major markets a little bit quiet today. earnings also very much and focused you can see that may be what is weighing on the dow. a mixed picture. coca-cola knocking it out of the park. general motors making a big morning. theater chrysler warning on sales in china. at&t trading at a six year low

i'm mark crumpton. this is bloomberg. : paul manafort is in a federal district court just outside washington for the first day of his criminal top -- criminal trial. we welcome now guy lewis from miami. good to have you here. good to have you here. explain to us what this case is about and what they got to do with russian interference and the u.s. election. this is about taxes and money laundering. -- >> it is. it's going to be somewhat boring. last week when the mother prosecutor stood up and said prosecutoreller stood up and said judge, you won't hear any witness utter the word president trump or russia. i appreciate that sentiment but i don't think it's true. there's going to be 75 to 80 prospective jurors sitting in the courtroom during the question and answer period to select a jury. and i bet you every single one of those people have heard of manafort and have heard of obviously trump and have heard of russia and it's going to be tough to pick a jury. david: you have tried cases like this. how on

mark: i'm mark crumpton with first word news. facebook announced it has identified a coordinated political influence campaign by what it's calling bad actors. the social media giant has removed 32 pages and accounts from faith look and instagram, believed to be connected to an authentic clinical activity ahead of november's midterms. the company has been working with the fbi to investigate the activity and says it does not know yet who is behind these particular accounts. the department of homeland security is creating a new energy --ed at guarding energy companies and banks against cyberattacks. they will be a collaborative effort between private businesses on the government on how to identify potential cyber threat and guard against them. the highest-ranking american at the vatican insisted he never knew or even suspected that his former boss reportedly sexually abused boys and adults. farrell, spoke as the u.s. church hierarchy has come under fire following allegations of sexual misconduct by the next cardinal who consecrated

let's get to mark crumpton. mark: thank you. a san diego federal judge said he will not send the deadlines imposed for the united states to reignite -- reunite families forcibly separated while trying to enter the country illegally here less than half of the 1.2 children under the age of five who were taken on the parents were returned before today's deadline. a supreme court nominee made the holdingn capitol hill -- with senators who will have the finals day on the confirmation political battle lines already were being drawn. republicans are calling the judge qualified. orrin hatch longest serving member and today called the judge among the most distinguished and influential judges in the entire country. >> the supreme court has adopted lessions, his opinion, no than 11 times, supreme court has. he has offered most will dissent that has prevailed in the supreme court. >> senator hatch said president trump has made quote an excellent choice. a political watchdog group is calling for next -- and ethics review. several at the ohio

i am mark crumpton. this is bloomberg. vonnie: i am vonnie quinn p rich shery ahn: i am shery ahn. welcome to bloomberg markets. vonnie: here are the top stories from bloomberg and around the world that we are following. notooks like we are including too much as we head into the second half of the year. stocks tumbling even after stronger-than-expected manufacturing data, adding global trade tensions. backiants gm in pushing president trump's tariff spread. automakers are feeling the pain. merry-go-round of the company considering going public again four years after going private. we have the details on this bloomberg scoop. abigail doolittle is with us halfway through the trading day. >> with the declines you are talking about. losses for the major averages, the dow and the nasdaq, all at the lows, each of the major averages down more than .7% which of course follows multiple down weeks for the major averages, for the dow, the week is young. on paper, the fourth in a row, the worst since 2016. plus, as

here is mark crumpton. mark: canadian investigators tried to determine what prompted a man to fire a gun into restaurants and cafes in a toronto neighborhood on sunday night, killing two people and wounding 13 others. canada's ministry of public safety says there is no indication that the 29-year-old had any link to terrorism. the gunmen died after an exchange of fire with police. his family says he suffered from severe mental health issues. in greece, official said the death toll from forest fires near athens has risen to. 74 the wildfires continue to rage through seaside resorts near the capital, torching homes and forests. the prime minister has the three days of national mourning for those killed in the deadliest fire seasoned hit greece in more than a decade. and prince harry attended the international aids conference to launch a global organization aimed at targeting hiv infections in men. he noted that for more than 30 years, it has been a place where science, activism, government and medicine have c

i am mark crumpton. this is bloomberg. ♪ joe: i am joe weisenthal. >> we are 30 mins from the close of trading here in the u.s. selling is bleeding in a big way into commodities. joe: the question is what did you miss? >> escalating tensions between the u.s. and china sparking fears of a global economic slowdown. a toll onwar takes commodities. crude oil tumbles and the commodity index dropping the most since 2015. amazon rips of the health care scripted we go live to stick with michael, a ceo about the future of the industry. oil is plunging the most in almost a year. the commodity falling about midway through today'session. oil helped to drive the commodity index to its worst day in three years to joining us now to help us pick up the pieces, it is bloomberg intelligence's mike and tina davis. who covers commodities. tina, what happened? was there a catalyst? it came out of nowhere in some way spirit >> basically a sea of red across commodities in the way. the oil part is particularly interesting. th

mark: i'm mark crumpton with first word news. president trump once vladimir putin to come to washington later this year. the press secretary said the asked his national security adviser to ask president putin to come sometime this fall. earlier today, the president we did he wanted to have a second meeting with the russian leader. the republican-led senate effectively rebuked president trump today for considering russia's request to question american officials. shifted hist efforts to the country after -- vocals on the u.s. to refuse to make any officials available for interrogation by the russian government. the chairman of the house committee has concerns about u.s. tariffs on china. this texas republican tells bloomberg television he is in talks with the trump administration to narrow the focus. >> we think the president's right to challenge china in unfair trade practices. we want them to be targeted approaches. right now we think it is too broad. economytoo much of the and makes a great punishment here in america and our all

i'm mark crumpton. this is bloomberg. live in new york, i'm julie hyman. >> i'm joe weisenthal. badly for week ending the bulls. swings in tech. mosttwitter plunging the in two years on disappointing user growth as intel declines. insight from miller. where does the ceo of miller valley park see value? and growth keeps up as evidenced by gdp figures. we have the chart you can't miss and a look at how the fed will digest the data. the path ofst says least resistance is higher. that is the case for his fund which has outpaced 98% of its peers. bill miller is known for beating the s&p 500 for 15 straight years. he now runs his own shop and he is with us now in the studio. thank you for coming in. i want to start with technology. in the seen big low ups tech industry that have taken down the nasdaq. one of them is in your portfolio. amazon is. what do you make of what we have seen? it has to lead to the rest of the market but it hasn't taken things down. >> i naturally happy about facebook's decline. it wasn't a big position.

mark: i'm mark crumpton, with first word news. a judge in alexandria, virginia is considering postponing the trial of former trump campaign chairman paul manafort. he said it's too late to review evidence supplied by the government. manafort is charged with ailing to disclose offshore financial accounts and must also defend against charges that he lied to banks to secure $20 million in loans. the trial was set to begin this week. a toronto hospital says that five of the 14 people shot by a gunman who went on a deadly rampage sunday night are in serious or critical but stable condition. to bring people were killed. the 29-year-old gunman died after an exchange of gunfire with the least. mayor tori addressed the city council today. said repeatedly, this is an international problem and domestic problem. too many people carrying around guns in our city and region who should not have them. you have heard me ask a question about why anybody would need to buy 10 or 20 guns that they can life of -- lawfully due under the present laws. nig

julie: first word news with mark crumpton. ryan says there is no question russia interfered in the 2016 u.s. presidential election. that conflicts with comments from president trump today who after a summit with vladimir said he sees no reason why russia would interfere in the election. ryan called that the president must appreciate russia is not our ally. rand paul could be a potential republican holdout in the way of judge brett kavanaugh's confirmation for the supreme court. he was worried about privacy rights. public and senators susan collins and lisa murkowski have promised look closely are -- closer at his abortion record. john mccain's treatment for your brain cancer -- for brain cancer could narrow his path for confirmation. it requires a simple majority in the 100 seat chamber. 59-49 --ns hold a 51-49 majority edge. government cap to both military ships from docking for two days until other countries stepped up in the latest standoff over migrant rescues. the boats were allowed to dock after european countries promis

mark: i am mark crumpton with first word news. the u.s.putin says withdraw from the deal with iran was a wrong move. the comments came at a joint news conference with president trump. we also mentioned our concern about the withdraw of the united states from the jcpoa. our u.s. counterparts are aware of our position. let me remind you that thanks to the iranian nuclear deal, iran submitted to the control to effectively ensure the peaceful nature of the iranian nuclear program. mark: president trump with the u.s. from the accord in may. he said the u.s. and russia must find ways to cooperate in pursuit of shared interests and he added you would rather take a political risk in pursuit of peace than to risk peace in pursuit of politics. minister metyrian with his counterpa

let's get the first word news with mark crumpton. mark? mark: president trump says he might prioritize a bilateral trade agreement with exit go over canada, and is building a good rapport with mexico's president-elect. the administration might have had separate -- might held separate talks with canada later. the president said he might break up nafta talks in the separate tracts. james comey, the fbi director who was fired by president trump last year, is trying to distance from the republican party. on twitter today, comey urged voters to support democrats in november's midterm's. he wrote "all the believe in these countries values must vote for democrats this fall. history has its eyes on us." the former fbi director said he himself aconsiders republican. former u.k. foreign secretary boris johnson today asked the to abandonmmons not brexit. he told lawmakers to a member the initial enthusiasm for a sharp break from the european union, saying it is not too late to save brexit. >> we halftime in these negotiations. we have changed tact on

i'm mark crumpton. this is bloomberg. scarlet? scarlet: live pictures from the senate floor, where lawmakers are voting on a nonbinding resolution to review -- review president trump -- to rebuke president trump. this is a resolution that was brought by the democrats, bob menendez and brian schatz, as well as chuck schumer. we will keep you posted. ♪ scarlet: this is "bloomberg markets." i'm scarlet fu. lisa: and i'm lisa abramowicz. china's yuan continues to decline. we are joined by leland miller, chief executive of china beige book international. leland, just a bit ago, president trump in an interview with cnbc said that the chinese currency is, quote, "dropping like a stone." chinaintentionally -- is intentionally devaluing its currency? leland: they are not devaluing the currency, they are just not stepping up to prop it up. when they want to stop this continually weakening currency, they will have to use some major ammo, but it's not the place where the pboc wants to step in to stop this. you have some pivot point

i'm mark crumpton. this is bloomberg. julie: live from bloomberg world headquarters, i'm julie hyman. lisa: i'm lisa abramowicz. joe: i'm joe weisenthal. julie: stocks bouncing around on the narrow range on the day. joe: what'd you miss? from trade war to currency war, president trump taking to twitter to accused china of manipulating their currency. america's trade partners did not stop the president from the fed. he double down on his disagreement with the fed rate hikes. for ge.blems they are facing hurdles as they trend -- trim the cash flow forecast. lisa: president trump is taking tariffs to the next level saying he is ready to go with levies on a staggering $500 billion worth of chinese imports. public and senators are flexing their muscles urging the president to reconsider. he invents, want to start with you, we were talking about how there is muscle flexing on the part of republicans. what are they actually doing to prevent president trump from going all the way? havethink what republicans done with they are fre

i am mark crumpton. this is bloomberg. >> live from bloomberg's world headquarters in new york, i am julie hyman. scarlet: i am scarlet fu. joe weisenthal is off today. stocks are rallying. the fed chairman is sounding upbeat about the economy. what did you miss? from president trump saying he misspoke and he accepts u.s. intelligence agency's conclusions that russia meddled in the 2016 election. risksvestors shaking off too soon? we break down the political realities of a trade war, next. is betting on e-commerce. what you miss? a rare oval office about-face after in tense outcry from capitol hill, including from some usual white house loyalists. the president now says he accepts the conclusion that russia interfered in the 2016 presidential election. bloomberg's political reporter is with us from capitol hill with the latest. it all pivots on that one word, would. he said he meant to say wouldn't. of an extraordinary walk back. the president said he meant to say would instead of wouldn't. he said it's

i am mark crumpton. this is bloomberg. >> live from bloomberg's world headquarters in new york, i'm julie hyman. onre are some antics going here at we're 30 minutes from the close of trading in the u.s. joe: the question is what did you miss? >> earnings season is in full swing. the membersl break and give you instant analysis. keep america growing, the trump administration delivers $12 -- will deliver $12 million in aid for tariffs. will the guarantee be the bedrock for the economy? one professor makes that case. earnings already out and earnings on tap here this morning, positive numbers from verizon, and after the bell, we get at&t and texas instruments. we are looking ahead to reports from ubs, boeing, and for more, remain, the news is not so much that we have the earnings, right? on balance they have been beating estimates i a higher rate. the news is that stocks are not , particularly the nasdaq. , particularly the nasdaq. >> you kind of saw a reversal on the nasdaq and again, after alphabet's earn

i mark crumpton. this is bloomberg. shery: mark, thank you. we want trade, not aid, that is top gope of stuff -- of lawmakers after the u.s. ca announced a $12 billion package to bail out farmers hurt by the trump administration's own trade policies. one rep -- while republicans have tried to counter democrats on health care and pitch a midterm message around tax reform, they may be forced to fend off a tax on the growing list of tariffs. for more, we welcome congressman erik paulsen, republican of minnesota and chairman of the joint economic committee. hank you, congressman, for your time. we know the president is meeting one hour toin about what do we need to see out of this meeting? what do you expect? rep. paulsen: here is what i hope we see. i hope we will see working with our allies to come together to forge relationships with a strong economic opportunity with the eu and the united states. china.ter rather than retaliatory tariffs of our own allies. i hope there is agreement to lower tariffs. the europeans have other behind the border s

i'm mark crumpton. this is bloomberg. mom --secretary of state mike pompeo heads to north korea on thursday. questions have been raised over his dedication to the nuclear weapons arsenal. haberman. now is ali be?surprised should we >> first we have to look really the situation on the ground. we have to remember there is no agreement yet about what does denuclearization mean. there is also no agreement about the freeze or suspension of the program. i would like to remind the listeners also that when the people were negotiating the joint plan of action with iran all the time iran was enriching more uranium and building its and testing centrifuges and making tests with its missiles. we face here a similar situation. and testing this might be the most important negotiation that pompeo will have in the coming days because this is the real start of the definition what we mean with denuclearization. shery: you worked at the iaea promos three decades and you were there when officials were kicked out of north korea in 2009. how ca

i'm mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i'm shery ahn. live in toronto, i am jon erlichman. we are now joined by our bloomberg and vietnam bloomberg audiences. shery: here are top stories from around the world. 12 russian officials have been in dotted with campaign hacking we have the latest in the ongoing special counsel investigation. banking on earnings. jpmorgan kicks off bank result with a strong report. citigroup and wells fargo show mixed performance. we will discuss. i'm sorry. president trump apologizes to theresa may and says he did not criticize her to a british you taper over her handling of exit. . the justice department has announced 12 indictments in special counsel robert mueller's investigation into russian meddling in a 2016 election. well russian intelligence agents have been accused of efforts to have democrats emails and computer networks pacific retargeting hillary clinton's presidential campaign. the democratic national committe

i am mark crumpton. this is bloomberg. ♪ shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: and i'm amanda lang. are the top stories we are following from around the world. a victim of trade tensions, micron shares close sharply lower as chip sales temporarily banned in china according to arrival. glencore shares plunge in the most in two years as u.s. authorities demand documents relating to possible corruption and money laundering. by how hard will eu tariffs urban -- bite bourbon? we hear for the largest bourbon distillers in the u.s. shery: u.s. stocks close lower on the shoulder trading day ahead of the fourth of july holiday. with all the volumes ahead of the holiday how the dow closed .5 percent lower while the s&p 500 was pulled down by tech and financials. saw 10als fell as we year yields retreat and the nasdaq also down .9% as we saw software companies weighing down on the index. we are now seeing the dollar continuing to weaken and those in long positions being

i'm mark crumpton. this is bloomberg. shery: thank you. president trump campaigned on the pledge of conservative judges and last night fulfilled that promise once again why nominating judges brett kavanaugh of the d.c. circuit court. the announcement was received with a standing ovation that included a group of republican senators. a republican of north carolina and member of the senate judiciary committee. he joins us now from capitol hill. thank you so much for your time. despite the excitement of last night, i have to ask you what's the risk of a couple of your fellow republicans flipping on this appointment? >> high think it's very low. kennedy mentioned in an earlier segment, the nominee the president put forth has some of the most remarkable academic and wrench credentials of virtually any nominee in modern time. i think if you look at his record you can see that he doesn't want to be an activist. he doesn't want to be a legislator. he wants to be a judge to interpret the constitution and the laws in a way that i think any judge of t

. ♪ mark: i'm mark crumpton with first for news. rand paul says he and his family were targeted by a man threatening to attack them with an axe in western kentucky. he told reporters today in his own state, that capitol police issued an arrest warrant for the suspect, and then thanked authorities for arresting him. a spokesperson declined to give additional details. senator lindsey graham paid a surprise visit to the northern syrian town of -- telling allies that american troops should remain in the area. erasing deal between turkey and the u.s. has eased tension between the allies over the city. ankara considers the turkish led to be terrorists. he said that the place was a place of hope and that the draw on forces would be "terrible." demand building couple was arrested as they were allegedly set to travel to france to take part in a terror attack at a rally their last weekend. a u.s. delegation including the -- including rudy giuliani attended the event for a group that opposes the iranian government. investors say the arrests we

i'm mark crumpton read this is bloomberg. scarlet: we continue to monitor results from companies to read even is coming out with its second quarter's numbers. they are topping analyst estimates. anywhereking at from $.50 to $.53. if you look at revenue, that's misses the mark by a hair. analysts were looking for 2.6 6 million for the. . in terms of the outlook -- for the period. in terms of the outlook, it is not a great eat in the terms of expectations people had. is what is estimated. joe: that may explain the 4% selloff read -- selloff. julie: we have maneesh deshpande estimating your global target and you derivatives so you can allow your self hedging. i'm curious what level of that you all are employing right now versus earlier in the year or say a year ago. maneesh: things have gotten a little better because, if you think about the way the administration has sequenced actions, it is very important. they did the good things first. then it has tried to do the trade protectionism. a firstyou have positive tailwind from wha

mark: i am mark crumpton. questioning fbi agent -- quickly spiraled into chaos as republicans demanded he answer questions about the russia and his disparaging phone text about donald trump during the 2016 presidential campaign. >> you are overruled. >> point of order, let me continue, your testimony is it essential to the hearing. >> the point of order is not well taken. >> you don't know -- >> the witness will answer the question. >> attorney-client privilege. he has been advised not to answer -- suspend. >> are you going to just make up rules all along -- while you go along? >> he said let me be clear under oath, not once in my 26 years in my -- have my personal opinions actiond any personal

mark: i am mark crumpton with first word news. canadian officials say a man with a knife has been arrested during the changing of the guard on parliament hill in ottawa. it is unclear if the incident is related to sunday's mash shooting in toronto. two people were killed and over a dozen wounded when a man walked along the street in greek twown and began shooting inside restaurants and cafÉs.t the shooter described as a 29-year-old man was killed during an exchange of gunfire with police. five of the victims were taken to st. michael's hospital. >> what i am able to tell you is that three patients underwent life-saving surgery in our operating rooms. all five of our patients remain serious. i would like to take this opportunity to thank our first responders and police for their heroic efforts as well to acknowledge the amazing work done by nurses and doctors overnight in our emergency departments. mark: authorities say the victims included 8 women and girls and 7 men. senior lawmakers from both political parties are -- complainin

let's get the first word news with mark crumpton. mark? reportse new york times that michael: secretly recorded a conversation with mr. trump during which they spoke about payments to a former playboy model. the woman, karen the google, said she had a nearly year-long affair with mr. trump beginning baron6 after his sons -- son baron was born. the fbi received the recording this year during a raid on cohen's office. mr. trump has denied the two had an affair. secretary of state mike pompeo met with south korean foreign -- the south korean foreign minister today. secretary pompeo was joined by u.s. ambassador nikki haley. that you are in new york to brief the un security council on president trump's summit with north korean leader kim jong own and dialogue with pyongyang. andrzej duda's said today he is hoping to win approval for a november referendum that would include questions over whether the constitution should confer the european union and nato memberships, its christian thes, and family bonuses. republican party has chosen charlotte,

mike: i'm mark crumpton the first word news. president and mrs. trump has arrived -- have arrived in scotland will they would spend the weekend at one of the private golf courses. they say the president will be preparing with the summit with vladimir putin, with the white house confirmed is still on. is to us in at least 128 people in pakistan and wounded more than 120 others. that attack took place at an election part of the country. a provincial parliament was among those killed. this is the third major attack to take place that targeted politicians in the south asian nation this week. and the second today. british investigators have found the source of the poison killing one person. a small bottle found in the home of one of the victims headed -- tested positive for novachoke. further testing will be done to see if it was related to the further poisoning in march. beinged in moscow after sold world cup into gets that allow them to enter russia without visas. they were told they have jobs waiting for them, but that was a lie and their return tic

. ♪ david: i'm mark crumpton -- >> i mark crumpton with your first word news. president trump said the european union and the united resolved to work on tariffs on steel and aluminum. the agreement includes expanding exports of u.s. liquefied natural gas, lower industrial tariffs on both sides, and imports of more american soybeans. state, mikey of pompeo, says he told top russian officials that there will be " severe consequences for any interference in u.s. elections or the american democratic process." --retary pompeo told set told skeptical members of the foreign relation committee, he has made it clear in multiple conversations. on pointed comment questions of details a president trump's one on meeting -- 101 meeting with putin in finland. recording of a conversation between donald trump and his then lawyer, michael cohen, appears to show mr. trump informed of a payment preventing news of an alleged affair of a playboy model coming to life. reaction to the tape was mixed. -- an not in a turning in attorney and i have no idea on the legal guidelines here. v

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york, i am julie hyman. scarlet: i am scarlet fu. joe: i'm joe weisenthal. julie: stocks are struggling to overhaul is the's historic plunge. joe: the question is what did you miss question mark >> waiting on amazon after facebook's big fall, will they breathe some life back into those stocks? more earnings on deck. starbucks and aaa are non-tech companies we will watch closely. a day after he backed off threats of auto tariffs, president trump is making a trip through the midwest to promote his policies. scarlet: what did you miss? earnings on tap. we are waiting on a lot of numbers after the bell including starbucks, chipotle, and of course amazon or not looking so good into the earnings. here with more is kevin kelly. it seems like facebook really shook people today in terms of confidence. what does the setup look like? >> facebook obviously being one of the worst performers in the s&p 500 today, really draggin

i am mark crumpton. this is bloomberg. ♪ shery ahn: live from bloomberg world headquarters in new york, i'm shery ahn. john: i'm in for amanda lang. we're joined by our bloomberg audiences. here are top stories we're following from around the world. the fed chairman says the central bank will continue to gradually raise interest rates for now. we break down his comments with danny blanche. tech titans in hot water. amazon has trouble on prime day and netflix stocks slumped to be -- due to earnings. cribis a crypto fund not a of fund? -- may surprise you. ofry ahn: a quick check major averages. we are seeing u.s. stocks holding around session highs. the dow up .2% following fed chairman jay powell's comments on capitol hill. the fed will continue to gradually raise rates, for now, he says. the s&p 500 up half of 1%, paring back earlier declines. pose interesting to see was not that only materials were leading gains, but the tech turkey has also bounced back after starting the day lower on disappointing

i'm mark crumpton. this is bloomberg. shery: let's continue on russia. welcome now senator ron johnson of wisconsin, who sits on the senate commerce committee, and senate-- chairs the homeland security. great to have you with us. you recently last week visited russia and after that trip were pretty open to revisiting sanctions on russia. "the washington examiner" that congress overreacted to russian election interference. trump-putin summit coming up, will there be an easing of tensions with russia anytime soon as the summit goes to plan? sen. johnson: i do not think those were exact quotes. we always need to evaluate our sanctions having the intended consequence. changingworking and vladimir putin's behavior? from the standpoint of russia interfering with our election, i have always said is in a -- said it is unacceptable. it is a serious problem, but it is not a great threat to our democracy. blown out of proportion. we have controls in place, and i take a look at the threats against this nation and am concerned about other things. that is lower on the

i'm mark crumpton. this is bloomberg. ♪ kevin: i deal with the kremlin? the white house said yesterday they are not ruling out russian putin --'s vladimir russian president vladimir putin's offer. there actually might be a deal? >> well, how to truly know? he said today he wants to meet again. what he was saying was agreeing that may be it was a good idea to invoke this 1991 treaty to allow russian investors to come to the u.s. to talk to send your citizens that they are interested in and vice versa. maybe bob mueller can go to moscow and talk with high-level russian intelligence officers that were named in the indictment last week. kevin: we are talking about this investigation that is very important. but on the policy side, nothing has changed. the u.s. has not reversed its position on lifting sanctions over crimea or any developments on the opposition to the pipeline. >> right. on the sanctions front, congress put a straitjacket on the present last year with that bipartisan piece of legislation tha

this is bloomberg. ♪ erg. ♪ mark: i'm mark crumpton with first word news. five people familiar with the talks tell bloomberg news the united states and mexico are in the final stages of negotiating a deal for rules for cars sold under nafta. that has been one of the biggest sticking point in discussions to overhaul the north american free trade agreement. the two sides have exchanged new proposals for the auto industry and mexico's economy minister is scheduled to travel to washington thursday for meetings with robert lighthizer. the top fbi official in nevada says the agency is wrapping up a report about last year's mass shooting on the big strip, and that it won't be released until after the attacks one year anniversary -- attack's when your anniversary. while a report may not be able to pinpoint a motive, it will focus on what made the attack possible and new preventive measures for the future. the french president's twornment survived no-confidence votes in the wake of a political and public uproar triggered by a video of his chief bodyguard beating up

i am mark crumpton. back to you in washington. kevin: thanks. earlier, i sat down with the former export-import chairman and i got his take on u.s.-china trade relations. fred: a really bad place. i see only escalation. i do not see an exit ramp that gives people a discreet way of coming off an increasingly escalating situation. i do not see it as a good thing at all. good thing globally for the economy. it may be good for donald trump and not the economy. kevin: $500 billion, that is what president trump said. he was willing to attack on $500 million. fred: that means your iphone will have a tariffs on it. he says that, wait, china has taken advantage of us, and you would agree with us, our intellectual property, for far too long. all of this doom and gloom necessarilyis not with the numbers but they argue the u.s. has the upper hand. fred: i think this is a myth. the idea that the u.s. has the upper hand and can call the shots around the world and bully people is over. our power lies in our legitimacy, that we actually did it with soft power a

." ♪ mark: i'm mark crumpton. european union exit negotiations says a backstop agreement for the irish border is a central in order for a deal to be achieved with the u.k. the issue must be settled and he added there must be an insurance policy to address the issues of ireland and northern ireland, something he discussed. yesterday that bordernot asking for a between us and ireland and the rest of the u.k. becausechecks on good if the u.k. wants to be in the , we cannot afford to lose time on this issue. mark: he says he feels the back backstop imposed is technically workable and can be improved. the white house says it is not considering supporting a call i've vladimir putin for a

i'm mark crumpton, this is bloomberg. live from bloomberg in new and live in toronto, welcome to bloomberg markets. here are the top stories we are following from around the world. facebook shares plunge is privacy concerns it. the stock could be poised for the largest one-day loss in value ever. trumpe truce president declares a cease-fire on more tariffs to focus on europe increasing imports of soybeans and natural gas area the canadian chamber of commerce ceo speaks out what he makes of the ongoing trade tensions and the future of nafta. let's get a quick check of the major averages. we are seeing u.s. stocks mixed today. 500 down 2/10 of 1%. gamblesumer -- procter & and coca-cola but tech is a big drag in fact most sectors on the s&p 500 are in the green but the tech sector is falling one half percent and taking down the s&p 500 with it. the nasdaq is down 1% although industrials are getting a bit of a boost on a lower trade tension optimism coming out of the u.s. eu meeting yesterday. >> it is interesting to see wher

i'm mark crumpton. this is bloomberg. this politicaln primary season there are two characteristics making nominees different from what we have seen before. there are more women and there are more military veterans. demonstratesnes both. the air force vets who served in iraq. undernt on to serve president barack obama in the executive office of the president and the office of the u.s. trade representative. she is now a democratic candidate for congress from texas where she handily won her runoff primary. gina ortiz jones. >> thank you for having me. david: let's not talk about identity politics. let's talk about issues. in your district. let's talk about what is in the news today and nato and president trump's performance over there. how important is it to the average voter in your district where you are running? >> thank you for the question. this matters a lot. part of this district is in san antonio which is named military city usa. in district 23 we also have the amazing laughlin air force base. my sister is in the nav

i'm mark crumpton this is bloomberg. live from bloomberg headquarters . welcome to bloomberg markets. we are joined by bloomberg and bn and audiences. right now, president trump criticizing the fed taking aim at the central bank interest rate increases. raking with more than two right now, presidentdecades of e tradition. car tariffs caught and political traffic jam. globalociation with automakers on the commerce department hearing. flag towaves the white take over fox's entertainment assets. now what? >> let's get a quick check of the major averages because we are seeing the impact of president trump's comments just now. the dow is falling at about half a percent. we have seen stocks falling given disappointing earnings after but we saw a seesaw president trump's remarks and the s&p 500 down pretense of 1%. of the bignergy some losers. the treasury yields continue to fall back after the president's remarks. take a look at what the dollar has done because the bloomberg dollar index has been von for the past two sessions. all of that is gone after the pres