vonnie: thank you. sening up, more on niel being mixed. president trump ousts his homeland security secretary over the southern border. this is bloomberg. ♪ ♪ vonnie: i'm vonnie quinn. this is "bloomberg markets." here's abigail doolittle. abigail: there's a slightly cautious tone on this monday to trading action on a global front. the dow and the s&p 500 both down. the dow's worst day in more than two weeks. the s&p 500 on pace to snap a seven day winning streak, and the german dax down about 4/10 of 1%. risk appetite relative to stocks has cooled off a little bit. we are seeing a big rally on the year, the best start since 1998, at of the first quarter earnings season that kicks off later this week with the banks. the euro up 0.5%. bonds are lower as well. where we do have a risk off picture, boeing weighing on the dow. take a look at this today chart, down 4.9%. bank of america merrill lynch has grown cautious on the shares, downgrading the stock to neutral from buy. they see a longer 737 max rec

vonnie: from new york, on vonnie quinn. this is "bloomberg markets." let's get a check of global markets. here's abigail doolittle. abigail: a bit of a mixed picture on this monday. -- the s&p ending as 500 and the nasdaq fractionally lower. we will be looking at some bank earnings on the day. the dax up fractionally, but the japanese nikkei doing quite well, up for the third day in a row, up 1.37%. investors waiting for more earnings reports, especially in the u.s. as for the shanghai composite, we are seeing an interesting losing streak as we take a look at a six-day chart. nikkei upave japan's for three days in a row, the shanghai composite the last three days the worst week for the shanghai composite of the year. initially sharply higher, then falling off a little bit. some traders and investors say this has to do with the fact that last week, china data was strong, and may mean less stimulus, so investors are selling those china stocks. let's take a look at goldman sachs and citigroup, both trading down, more so goldman sachs. revenues missed by a

vonnie: thank you. coming up, a bloomberg exclusive. we speak with the ceo of honeywell. this is bloomberg. ♪ ♪ york, i amm new vonnie quinn and this is "bloomberg markets." the u.s. is back in full force after the holiday weekend. >> we are certainly back in full force. take a look at the s&p 500 and the nasdaq down fractionally. starting the week off with a small loss but well off the lows of the premarket suggesting. the shanghai composite had its worst day in a month, down 1.7%. the government may not continue into the second quarter. that is dragging on the emerging market index. there is some caution there out of china. where it seems very risk on, at least relative to the market, let's take a look at oil. we will see a big pop for oil, up a second day in a row. up to .6% after the u.s. -- 2.6 percent. thatis helping the idea supply could tighten. that is hoping the energy sector. let's take a look at the energy sector. is up 1.6%. also higher, kimberly-clark up 7%. the consumer saver company

vonnie: thank you. even as then "me too" movement rolls through hollywood and beyond, the energy industry has largely escaped. soldnadarko which will be to chevron had a moment on its own -- a moment of its own. from thisling details story. great reporting. is like a lot of other "me too" stories. anadarko aten at the denver office saying for years, they experienced an appropriate behavior from executives, discrimination, and held back while the amended complaint about were promoted. what is unique if this is the first time we are hearing something like this from an oil company. is kind of shocking, with a series of elements to it, catherine. how has the company improved it behavior and its monitoring? how has the company improved its reporting. there is a takeover included in this as well. catherine: anadarko, which is being acquired by chevron right now has said they have been responsive to these complaints over the years and have investigated complaints ever made related to harassment. they say they

vonnie: right. you decided to write this book, having followed and reported on sergio marchionne for many years. he was definitely a bit of an enigmatic man. he didn't tell shareholders, for example, that he was sick. he was also absolutely dead set on making partnerships, and perhaps even a merger, maybe to the extent of not listening to the advice of the other side of things, correct? tommaso: in terms of his illness, as i write in my book, no one outside his family knew he was sick. this included the chairman of discoveredssentially that he was never going to come back at work once he went for the second time at the zurich hospital. to get intollowed the intensive care unit for privacy reasons. the second time, he understood immediately that marchionne was never going to come back. on the other, marconi had one big regret. this was clearly the fact he didn't pursue until the end a merger with general motors. guy: i was going to ask, what did he leave on the table? what is there left to do for his

vonnie: and vonnie quinn. this is "bloomberg markets." talk with stepping up doolittle. -- let's speak with abigail doolittle. abigail: the s&p 500 down a quarter of a percent and the nasdaq down .6% come on pace for downorth day -- nasdaq 16%, on pace for its worst day in more than a month. the last day of the trading month of april is having a risk off tone confirmed by bonds. we look at the intraday chart. seeing it go up and down. we had the 10 year yield up more than one basis point. right around the start of trading for stocks, which is to the downside, it moved down one basis point sang bonds -- saying bonds are rallying. as for some of the earnings movers, let's look at ge that is down. industrial cash flow was better than expected with a burn of $1.22 billion. still, a turnaround year. quarter witha their consumer health care unit helping out. this is the big dra down, on par its worth -- for its worth day. they put up $28.9 billion. it had to do with slowing at sales. analyst are really scratching their heads. turning it over to

vonnie: amanda, bravo. i have to say, it is your first time doing battle of the charts and myself and amanda will be anchoring at 1:30, so justina, you are in a little bit of a loss because the winner is amanda lang. thanks to both of our players very much for battle of the charts today. power"up, "balance of with david westin, guest libby cantrell. continuing in washington, all these hearings. barr is general william testifying before a house appropriations subcommittee. among his remarks, he says robert mueller's report will be public within a week and offers some explanation for the material he is withholding. the justice department is rejecting sensitive parts of the report and potential ties between moscow and the trump campaign. we also have the drug pricing hearing in washington, d.c., with ceos, which we will update you on throughout the afternoon. here's a snapshot of the u.s. markets three hours or a little more into the trading day. the s&p down one half of a percent and the nasdaq down one quart

vonnie: thank you. coming up, kicking off our two days of coverage from the imf world bank annual spring meeting for the conversation with world bank's ceo. later, we hear from the managing director of the imf, christine lagarde. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. this is "bloomberg markets." let's check those markets now. here's abigail doolittle. abigail: we are looking at small moves for the major averages here in the u.s. investors treading water before the real kick off of the earnings season with some of the big banks. , the&p 500 up fractionally nasdaq down fractionally. both of these on case for weekly declines. outpacing for the downside on the day, the em index, down 8/10 of 1%. interestingly, it is not a risk off picture. haven bonds flowing back, too. investors waiting for more information probably out of the earnings season, which tomorrow will kick off in earnest. as for that em weakness, this is the shanghai composite this week, four days on the weak,

vonnie: thank you. coming up next, we are going to be talking with starbucks ceo kevin johnson about the company's latest results and his strategy going forward. this is bloomberg. ♪ ♪ guy: live from london, i'm guy johnson. vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets." holdingrbucks' growth strong in chinese and u.s. markets. david westin is joined by the company's ceo. david: thanks so much. kevin johnson, the ceo of starbucks, we had the earnings out after the bell yesterday. solid report. start with the united states. how did you do in same-store sales? how much was traffic, and how much was the price being charged? kevin: first of all, we had another solid quarter. really aboutle is delivering predictable, sustained results. this is another quarter that reflected that. in the u.s. we grew our collectibles. we saw slightly positive growth in transaction comp. the rest has been driven by slightly positive transaction premiumization and attach. david: how much of that is th

vonnie: from new york, i'm vonnie quinn. guy: coming up very quickly, we're going to speak to the wto's ceo. meana hard brexit would for his organization. let's take a quick look at where the european markets are in advance of the european close. moment --iew at the trading lower. the closes next. this is bloomberg. ♪ guy: 30 seconds until the end of regular trading in europe. a reasonably well session in europe. the italian market is something of a laggard and outperformance in the london market. that down to what is happening with the pound today. we have the ftse 100 up 1%. european equity markets a little off their highs. we are already trading midrange in terms of what we have seen. mid to upper range. the ftse 100 up 1%. the dax doing relatively well. as term as the sector performance, the auto sector is where we are seeing outperformance. interesting what we're watching in the united states in that space. the cac 40 only trading up on 3%. let's look at the individual movers -- up .3%. let's look at the individual mo

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets." let's check those markets with abigail doolittle. abigail: we are looking at very small moves for global markets. of 1%, 500 up about 2/10 but european stocks down about the same amount. the nikkei up fractionally, the em index down slightly. the s&p 500, though, for the sixth day in a row up, the longest streak since january. if we go into the bloomberg and take a look at what is happening, we are going to see that both the s&p and the dax are above their 200 day moving averages. we have a great chart in the terminal 2 take a look at. of the s&p 500, that was not true for the dax. but we see the s&p 500 above it for quite some time. the dax recently joining in, but that 200 day moving average for the dax slipping down. as for some of the big movers on the day, let's take a look at the u.s. 2.5% after that ethiopian crash report came out squarely blaming the company, but investors seeming to think the worst is priced in. facebook bouncing back after on a bloombergl exclusive of millio

vonnie: interesting. you say the foreign-exchange market has been particularly quiet the last couple of months, but some of the emerging-market currencies have really been on a tear, or the opposite. what are your favorites these days? guest: that's right. em fx has done quite well. the rally that started sometime in september, october much lost a lot of steam towards january and early february, and the gains have been quite limited so far. i think we are in an environment where the fed has told us they are going to be patient, pretty much saying they are on pause. that are some green shoots global growth is stabilizing and normalizing, so that seems to be fornvironment conducive good behavior of em fx. global warming twin my favorites -- global remains one of my favorites. mexican peso remains a favorite. further down the road we should expect some strengthening in the brazilian rial. --h reforming for mentation brazil will have to crack on with reform implementation. week, one-month month, six month cab

vonnie? vonnie: thank you. shares of 20 rallying -- shares of twitter rallying hitting highs since july and reporting strong user growth. joining us is garrett. they had an increase in daily active users. garrett: this is the new metric we need to wrap our heads around. using dailyped active users and now they are focused on monetizing bull daily monetizedocused on daily users, so people who are coming regularly. of hown open question many of those can be bought? that is something companies have been struggling for years now. guy: i'm interested in what is happening further down. how much is it costing this company to deal with inappropriate content? gerrit: unlike facebook and youtube, they don't have the resources and the massive market caps and cash flow to hire thousands of people to moderate its platform. twitter has largely relied on its users to flag problematic content on the site, and checked the flags and then brought things down, which has prompted a lot of complaints from users and activists. the co

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: in london, i'm guy johnson. this is "bloomberg markets." let's find out what those markets looked like. here's abigail doolittle. abigail: small decline for major averages in the u.s. after opening slightly higher. the s&p and the nasdaq down for the second day in a row. the nasdaq is flipping for its worst two days of the month of april. all of this as we are waiting for shares of pinterest to open. the digital scrapbook company did raise $1.4 billion in their ipo. over in asia, we have seen some even more weakness than here in the u.s.. the nikkei down 8/10 of 1% in the shanghai composite down for tenths of 1%. let's take a look at the german dax. over the last seven days, the german dax trading higher, up 2.9% over that time despite the fact there's been some pretty disappointing data out of europe. investors looking past it, apparently priced in considering we did have the imf tell ahead on that a couple of weeks ago. as we take a look at what has been happening over the last

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: we are seeing bond markets selling off. yields are picking up. we seem strong data out of china, and a really strong trend on the u.s. ism numbers. the stoxx rising 1.22%. it really did start in china, the csi 300 up by 2.60%. in europe, the car sector doing really well, driving outperformance in germany. in london, we are seeing the minors performing as well. in terms of what we are seeing out of your outcome of the picture not quite so positive. pmiaw german many factoring coming below the flash number and indicating the german economy remains in a deep freeze right now. that probably is the china story, so it is interesting to see what kind of lag the positive pickup in china is to the german story. a positive come a risk on sentiment here in europe. vonnie: the 10:00 a.m. data giving more of a boost to u.s. equities, but we were already higher. the s&p 500 up three quarters of 1%. wynn resorts is contributing after gaining revenue. nalysts were looking for a much bigger dip t

vonnie: yes. dan: but don't forget a lot of those credits are subject to the price of natural gas in the u.s. that has not been too helpful lately and probably will not be going forward. vonnie: what do you make of the aramco deal? looking at it at all? dan: looking at it, confused about it, but not the pricing. itexpected them to price aggressively, and they are. it is going to be an important component of a lot of the different indices. index sensitive, you cannot avoid it. for good reason. for good reason. that offering is as pricey as i have seen in quite a while. you knew it was coming. vonnie: but it is still oversubscribed. dan: exactly. that's the point. one bonds are oversubscribed, it is really a good idea not to be one of the subscribers. vonnie: dan, where are the most vulnerable bonds? where in the world's fixed income the most vulnerable? do you see any areas for concern in the u.s., for example? dan: within the u.s. on an industry basis, no, i don't see any overly risky situations b

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets." guy: let's take a look at those european markets and show you what is going on. this is the story. stoxx 600 looks pretty dull, only up 1/10 of 1%. however, there is something more interesting going on here. london is underperforming because mining is lower. that is because iron ore is -- becausee of of vale. german mark it's doing pretty well. the reason for that, china. gdp numbers overnight -- yes, i know when you dig through them, there are areas of weakness -- more broadly seem to have been a more risk on sentiment driven into european markets as a result. the auto sector, as you can see, up by 1.80% on the same day that we saw another month, i think the seven-month, lower for european auto sales. the european auto sector is not responding to what is happening in europe. theoretically, the euro should benefit from the china story, too. the german economy starts to recover, and that should improve the position of the european economy more broadly. it should help out the ecb. that

. ♪ ♪ vonnie: live from new york, i am vonnie quinn. this is bloomberg markets. chevron is making a bet on the region,shell oil purchasing anadarko in a cash and stock deal. we spoke to the ceo today. >> over 75 miles of continuous acreage that runs across the delaware basin, which is really the core of the permian. this will allow us to bring some of the things we have become really good, factory drilling, surface infrastructure, downstream integration, to a much larger portfolio. this really brings together two very nice assets and makes our permian position even better. >> but that is not all that anadarko brings you. there are also deepwater assets and gas assets. lasting the year you were saying fro permian, permian, permian. does this shift your company to other places to look for gains? vera: i think the permian --? guest: i think the permian can sometimes take the air out of the room. that. are not only about there is much more, anadarko is a world-class company with terrific assets. complementaryly position in the gulf of mexico, in the deepwater, and th

vonnie: from new york, i'm vonnie quinn. it is another ipo. the world's biggest code working company finally going public, joining a wave of tech startups moving to the u.s. market. let's bring in jeffrey from bloomberg intelligence. this one is different. tell us why. is a real estate company, not a technology company. in the vc market, it is valued like a technology company, they are growing like a technology company, but their core business is occupying real estate and leasing it out. guy: this is a company that makes epic losses. how will the markets take it? if they getdepends valued as a technology company or is valued like a real estate company. the public real estate market in the united states and globally is valuing these companies based on a series of predictable cash flows that can find the dividend. that is not this company. this is a revenue growth story and a disruptor story. that is not how real estate is valued. vonnie: what can we tell about this company already? it has a massive amount of debt outstanding. the funds are cons

vonnie: i'm vonnie quinn. this is the european close on "bloomberg markets." withi'm going to start off where the dax is. the dax is outperforming now. the automobile sector is trading relatively strongly. this is part of what's coming out of the motor show in china and the macro picture starting to improve a little bit . is outperforming a little bit today, up .6%, fading off its earlier highs but not a bad move forwards. we will get some china data overnight. the gdp number is something we will follow and spend a lot of time talking about tomorrow. pay attention to that one. the csi 300, the chinese market up quite strongly. the other thing i want to mention as well, what's been happening with the ecb. a bloomberg story suggesting there's little enthusiasm in frankfurt for the idea that we could see this rate story developing in the european banking sector. nevertheless, the ecb moving in that direction. the european banking sector hasn't had that bad a day. just ao-dollar trading offsofter now, earlier 1.13, now trading just above it. the s&p 500 still up .

this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn. analysts and economists are sounding the alarm are in inflated reddit scores. -- inflated credit scores. this could be masking it hidden danger from the wristers -- from the risky of -- the riskiest of borrowers. >> goldman sachs and moody's analytics say as the economy has grown, the scores have grown with them. the problem is, people's ability to pay is about the same. their inherent risk as consumers is unchanged, but scores have risen with the expanding economy. this is not accounted for by all lenders. some lenders have not adjusted their underwriting for this. you might have somebody with the 550 credit score today. there are relatively riskier 2009someone with a 550 in when they just got through a big downturn in recession. this risks exactly what happened before the financial crisis -- how is movies saying these ratings are -- how is munis saying these rating -- how is mooney's saying these ratings aren't slated. aren't they the ones rating? adam: you see illiquid sees despite

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets." let's get a check of those markets. here's taylor riggs. taylor: the s&p 500 gaining after friday, we had our best quarter going back since 2009. global risk on means yields are higher. two year yield now to 2.47. oil had their best quarter since 2009 as well last quarter. i want to come into my terminal and see where we stand. last year the theme was u.s. versus rest of the world. that continues to be the theme here. in green, last week u.s. had the gest outperformance since january 18. overall, we will have to see how that week shapes out. u.s. certainly has been the big outperform or. something that has not been is lyft. we are off almost 9%, a little bit of a recovery. the key here is we are dipping below that $72 ipo price. friday we jumped as high as $88 a share, and this morning definitely lower. the key is you have erased all of the 9% gain friday, falling below that ipo price. but there are some winners, particularly within our equity markets. china pmi data was much better-t

this is bloomberg. ♪ ♪ live from new york, i'm vonnie quinn vonnie: -- vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." here's kailey leinz. kailey: in sri lanka, the father of two of the suicide bombers has been arrested on suspicion of helping his son. the attacks killed more than 350 people, mainly christians and foreign tourists. the u.s. and japan will be looking for a speedy deal when they resume trade talks today in washington. the u.s. is pushing to reduce its trade deficit with japan. tokyo once a promise it won't be had by u.s. tariffs on auto imports. filing for u.s. unemployment benefits rose last week for the most since 2015. that broke a five-week streak of declines. the overall number is still in the range of what is considered a tight labor market. a bellwether economy for global trade and technology has reported its biggest contraction in a decade. south korea's gdp shrank by 3/10 of 1% in the previous three months, big worry for other major exporters such as germany and taiwan. global news 24 hours a day, on

this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn. myft heinz has announced girl patrice year will be the company's new chief executive officer, replacing bernardo hees effective july 1. the company trying to recover after tortuous two years. let's get to some analysis now with bloomberg news, who i've also been speaking with the ceo. kraft heinz has cut r&d spending, all sorts of things from advertising to innovating to buy new labels, brands. what is the new ceo planning to do? >> that is the great question and the focus on him will be, does he depart from the classic strategy of focusing on cost cuts sometimes at the expense of innovation? he has been at anheuser in bed for a long time, doing marketing. so he's been selling beer, and now the question is how he can sell more food. short of a major acquisition, they need to sell more products. sounds simple, but they have not been able to buy anything to allow them to cut costs. a lot of people consider their portfolio a little out of step with modern tastes. vonnie: given he has a m

vonnie: i'm vonnie flynn and this is bloomberg. we are seeing a little bit of difference from your site in london to what is happening in the u.s. we had higher futures this morning after closing yesterday, the highest since october. getting a little bit of softness today. we have a few things weighing in on the market. the ftse, some optimism there over in brexit. wer in the crude markets, are up to $60 a barrel. we are increasing by more than 60 yesterday. now with a 62 handle. looks like global growth is coming back. crude in through 62. i want to look at some of the individual movers, in particular walgreens. let's start with the airlines. delta reported some preliminary results. earnings higher than previous estimates. we are seeing a first-quarter revenue growth of 7%, capacity now up to 5%. so many other airlines getting a boost as well. i want to flip up the screen and come to walgreens. linehave missed on the top -- matched on the top line missed on the bottom line. the ceo saying their reimbursements are seeing pressure.

vonnie: thank you. coming up later, we will hear from germany's finance minister from the imf world bank's spring meeting in washington, d.c. markets are higher. the dow up three quarters of 1%. the s&p 500 also trying to stay above 2900 in the session. this is bloomberg. ♪ vonnie: this is the european close on "bloomberg markets." i'm vonnie quinn. let's get a check on global markets. here is abigail doolittle. abigail: we are looking at a bullish friday. the dow up seven times of 1%. the nasdaq up one-times of 1%. a little divergence there. up german dax also higher, about half a percent. a risk on day considering we have haven bonds falling on the day. the 10 year yield up five basis points. at jp looking at disney, morgan, and chevron actually a drag, but disney hitting an all-time high. justrgan, as you were talking about with alison williams, put up a strong quarter. at its highest level of the year. anadarko petroleum clearly soaring after its 33 billion-dollar buyout from chevron, which is lag

vonnie: right. certainly, obviously china and china growth, china trade talks, the has been in the background for u.s. markets. nevertheless, during this earnings season we have seen the s&p grind higher and higher, firmly above 2900 and staying there. why is this? on a molecular level, why are companies holding up the s&p 500? burns: i think we have seen that the quarter that earnings were expected to drop a little bit. consistently we have seen numbers and figures that have better than expected. coincidentally, the economic data has been weaker, but we are looking at a better second half of this year. really, we have been in this situation with the u.s. market where we had solid, stable economic growth, decent earnings. i think probably the thing that's offset that in a bit of a tug-of-war is you've had some geopolitical concerns, things like the trade war with china, or things like brexit. in this case, we have really seen for most of the first quarter the solid macroeconomics outweighing a lot o

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: as we approach the end of trading in europe, basically we are down, but not by much, and aggregates. the dax outperforming, doing really well today relative to its peer group because wirecard is potentially in play, or at least softbank is taking a decent stake in the company, it would billion dollar investment into the business. convertible,ng the and the s&p has some cracking numbers as well. that is why the dax is outperforming. london is underperforming. stocks of bp, which did really well yesterday, not doing so well today. that is interesting because the data out of germany today is not great. we are getting a fairly strong bid numbing into german bunds, as well. lower, prices higher in germany. continuing problems for the ecb. the aussie under pressure as well. the dollar continues to be reasonably strong at the moment, which is confounding quite a few people right now. one area that is certainly true is that in australia, we saw a hock onan inflation s the downside earlie

i am vonnie quinn. guy: i am guy johnson. vonnie: it is jobs friday. we will be concentrating on that throughout the show and president trump on his way to california and making comments. we will bring you those when we get them. let us check u.s. markets and where they stand. subdued, and the 10-year yeild -- the 10 year yield down after a mixed job report. we have the s&p 500 up .3%. in line with the major industries. all told, not a huge amount of action at this point. the dow up .2%. it is at 97.37, a little weakness. guy: a little bit, but not much. the stoxx 600 plate -- trading flat. we do have action in the cable rate. there was a spike earlier on, driven by donald tusk coming out and talking about an extension. theresa may is looking for a shorter extension. the fear is that we could end up with a rolling cliff edges. the dollar is a factor in all of this with the payroll story. the best-performing sector in europe was a cracking first quarter. the european also set -- the european auto sector is up by 7% this week. it is fascinating to juxtap

vonnie: in new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: oil is getting battered this afternoon. take a look at what is happening with brent. we were just talking to phil struble at the cme. crude certainly under pressure. that is rippling through into european markets. some of the big oil makers have been down for a few sessions now. they had a big start to the weeks since they are very tough going. european markets feeling that a little bit. he flat at this stage come up right at the bottom of the market, the european oil majors are going to get hit. mining stocks also down. states prettyited interesting. pce highlights this idea that the fed is going to be on hold. we did see a capping out of the u.s. treasury market. we saw pressure on yields. that is reflected across the atlantic. the gravitational effect between the bond market and the treasury market pretty well-established. bund yields being dragged lower, and a little bit of a price pickup, circa zero at the moment, but that little negative sign there pretty important. vonnie:

i'm vonnie quinn welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories from around the world we are following. financials front and center. goldman sachs and citigroup both deliver better than expected earnings but executives spent the morning defending their strategies. we speak to jason goldberg of barclays. most pulls off one of the stunning turnarounds in sports history, maybe in history. what it means for the world of golf. and we talk to lamborghini america's ceo about their latest supercar. the nextcoming up in 30 minutes. let's get a quick look at the markets. halfway through the trading day and the picture remains the same. taking a bit of a pause on the s&p and nasdaq. investors waiting for more earnings reports. we have some bank earnings reports that are dragging on the dow and s&p 500. aredow transports underperforming, as you can see, down .9%. some of the weakness has to do with airlines. american airlines down 1.9%, after they announced it had pulled the 737 max 8 unt

vonnie, over to you. vonnie: of nine points on the s&p 500. if we were to gain another nine points are 10 points, we would be at 28.90 -- at 2890. the dow jones industrial average is up .1%, 25 points. oil companies moving. align technology is having a great day and bed bath & beyond. nothing to write home about. 2.50enure yield at following the jobs report and the dollar index is stronger. weaker sterling. gmm and have a look at some of the commodities. soybeans down 1%. china continues to buy soybeans. majoratural gas having a day today, up 15%. we mentioned some of those currencies, the mexican peso stronger today on the potential for -- who knows why the mexican peso is stronger. the president is headed to the border so you can imagine it might be weaker if there are threats to trade. not the case. we shall discover why. guy: apparently norway is having issues producing that gas. let's talk about the banks. they are the second-best performing sector this week in europe. it is certainly a subject of attention at the moment, what will happen

vonnie: 30 minutes left in the trading day in europe. from new york, i'm vonnie quinn. guy johnson is off today. this is the european close on "bloomberg markets." we are 90 minutes into the u.s. market open. disney one of the stocks we will be watching. maybe more tomorrow than today. 1%.s down about 1/3 of its first investor day in five years taking place regarding its streaming app this evening. u.s. steel getting a downgrade. a couple warning about steel -mageddon coming after a credit suisse warning on the stock and its peers. crude oil down as the iea talks about demand getting cut due to economic threats to the global environment, even as opec cuts output. let's of a quick look at what is going on in europe. luxury stocks doing pretty well, holding up the cac in particular after lvmh posted a buoyant message for consumers and shareholders. easyjet one of the brexit indicators today, along with tui . the outlook doesn't look so bleak, at least for the summer season, for the likes of easyjet because there has been a brexit extension. we will see what happens with t

this is bloomberg. ♪ vonnie: from new york, i am vonnie quinn. guy: and in london, i am guy johnson. this is the european close on " bloomberg markets." at -- ae still looking fractional decline for the s&p 500. investors consolidating the rally we had, waiting for more information. earnings season is ahead, so that will be the next big source of information. german bunds down. we do have a flight to safety for bonds, that is true for u.s. 10 year yields as well. 500, there isp the possibility that consolidation could be greater than just small. we go into the bloomberg and look at the trading envelope. the s&p 500 moved reliably up and down through that trading envelope and than the downside in q4, this year we are clearly hugging the upside. at some point if trading does normalize, it will move back toward the bottom of that range. something to keep in mind. have the financial sector being helped out the most by bank of america and close to the bottom, the tech sector down 8/10 of 1%. giving some of that back, weighing on the tech sector. also

vonnie: live from new york, i'm vonnie quinn. amanda: i'm amanda lang. here are the top stories we are following from around the world. wto today says the u.s. violated international trade rules when it calculated tariffs on canadian lumber. it's the latest stage in a decade-long disagreement between the nations. vonnie: trouble for banks. we will talk to the ceo of laurentian bank. amanda: wall street invested near future, literally. students can hand over part of their future income in return for investment today instead of taking out loans. let's get a check of the major market averages. we are seeing a pause in the upper momentum. energy and industrials both week today. today. in globals lower forecasts for growth and hitting individual countries specifically including canada. source noting that apple is gaining on the day but many of the techs are not. vonnie: plenty of new catalysts tomorrow from the ecb. brexit. amanda: probably not good ones. been onthe stocks have a seven-day run. that looks to be ending today. goldman sachs with a warning. ther

vonnie: turning to u.s. policy presidentpeaching trump west front and center last night at a town hall with a leading 2020 democratic presidential candidates. >> we have the most dangerous president in the modern history of this country. human beings in this country have done what is documented in the robert mueller report, they would be arrested and put in jail. >> the impeachment proceedings are up to the house. they will have to make that decision. i believe congress should take the step towards impeachment. >> for the next year or you would have to get to the heart of the election if all congress is talking about is impeaching trump and trump, trump, trump, mueller, mueller, i worry that works to trump's advantage. >> there is no political inconvenience exception to the u.s. constitution. vonnie: slightly varying views. joining us to discuss more is kevin cirilli. obviously, there are different motivations for saying different things and here you have a set of candidates for the next elections. i'm curio

vonnie: i'm vonnie quinn. this is the european close on "bloomberg markets." guy: a really interesting day. on one end of the spectrum, you've got decent tech earnings coming out. you could take that and say i think that will generate a risk on vibe. the tech earnings season in particular is being overshadowed by something more broad. the industrial sector is down, and then there's this kind of broader macro narrative that seems to be out there today. the korean economy is one of those economies you really want to pay attention to. it is a global bellwether. you think about the companies it produces and the areas. that is in. obviously, samsung -- the areas that it is in. obviously, samsung is one of the names that was out. the data is really week, particularly the trade data. the dollar very strong against the korean won. we've moved it 1% today. the euro is weaker as well. those two stories are related. i think it is the openness of the european economy that is its achilles heel right now. european stocks more broadly down a little bit. you are seeing metal

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: we got some decent data coming out of europe in the form of services pmi. that drove the risk on story we've been watching, circling around the world. bit ofave potentially a a story where investors, portfolio managers are now fearful of missing out. some of them behind their benchmarks are beginning to chase this rally. the data is maybe augmenting that decision-making process. 1%.stoxx 600 is up 8/10 of the card and mining sectors doing well. the card sector could close into a bull market, up 20% from its lows. the pound is also rising as well. we have this meeting taking place at the moment between jeremy corbyn and the prime minister of the u.k. they try to fathom a way to take this brexit story forward. we will talk about that more in just a moment. the banks are in focus as well. story that it a is looking for options for its asset management division. globally, banks like j.p. morgan are looking for asset management divisions, trying to figure out what to do next. ubs poss

from new york come on vonnie quinn. guy: from london -- from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." vonnie: a big day for earnings. of 1%, 500 just up 1/10 but we have plenty of deals to talk about today. "the wall street journal" reporting a merger. up, sendingfin is the s&p 500 to just a bit of a positive gain today. crude oil futures down under $63 a barrel this morning. we've been keeping an eye on that. we will be talking to one of our tehran correspondence this hour. we will also speak with stephen schwarzman, blackstone's ceo, from the mocon global constant -- from the milken global conference. story, u.s.ntraday markets are heading towards fresh records. if you break down europe, you can see that oil story manifesting itself at the bottom end of the markets. stocks under pressure once again. it started tuesday last week and has been going ever since. euro-dollar absolutely unchanged at the moment. such a big wake for data -- a big week for data. goldilocks stocks in some ways. building up payrolls in the u.s. a

this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn. jpmorgan says stock traders have been focused on the wrong yield curve. in a letter to investors, one of the bank strategists said to watch the spread between the 2 and 10-year treasuries. our economics editor peter coy joins us now. 2/10-month, 10-year out, in, like it always was. should we all just take a breath and relax? >> some people like strawberries, some like chocolate. not a gigantic difference between the two spreads -- spreads. historically, they tend to move together. on that there were technical ground, you could be more optimistic about the economy by looking at the 2's and 10's. but he goes beyond that, he doesn't say we just have this technical thing with the conventional wisdom. he says why do we worry about an inversion in the yield curve anyway? we think the central bank is tightening too much and that will cause recession. typically, when a recession reals, you would see 3% inflation adjusted yield. we are at zero right now. you have high-yield bond spreads very m

vonnie: in new york, i'm vonnie quinn. this is the european close on "bloomberg markets." we are awaiting marks from -- awaiting remarks from president trump. we will be getting the mueller report on the justice to part my website in just a few minutes. it is due to be handed to the house and senate justice committees right now. attorney general barr said earlier today they would be handing discs of the redacted report to congress. it is due to be on the justice tavarez website in just a few minutes. as we can see -- the justice to barb and website in just a few minutes -- the justice department website in just a few and it's -- in just a few minutes. in the meantime, we have markets to check. guy: delivered on cd-roms. i imagine there's a little confusion on how those work these days. let's talk about what is going on in the markets right now. on the dax, we have seen really strong performance despite some really disappointing pmi data, despite the downgrade from the german government in terms of growth a couple of days back. the dax is doing really well white now. indust

this is bloomberg. ♪ ♪ vonnie: this is "bloomberg i'm vonnie quinn. return of the champion, the athletic apparel rand has had a massive resurgence in global sales since last year. the big logo more and from everyone by the kardashian's two teenage boys. let's look at our bloomberg news business reporter. jordan, what happened? champions became cool or hip again? jordan: that's right, and teenagers love it. street where is back, they really like this like 90's vibe of the retro, even though they .on't remember it champions is capitalizing on it with social influencers. extra: what gave them the eight -- extra edge that made the teenage boys want to go out there, as well as the kardashian's. they work with supreme, they have exclusive other brands, and it took them 100 years to open up a store so now they have a billboard. supreme is one, obviously. they got a boost of private equity money from apollo, correct? who else? who else is getting money from champion and are they making a profit yet? jordyn: they work with kids, they work with places like soho

vonnie: thank you both. fernando valley of bloomberg intelligence, and from janice henderson, we also had our guest noah barrett. wells fargo tumbles as jpmorgan jumps. both banks announcing quarterly results this morning. we get a look at the start of the bank earnings. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn in new york. amanda: i'm amanda lang in toronto. jpmorgan and wells fargo were out with earning this morning. jpmorgan jumped on the news, wells fargo going in the other direction. you can see jpmorgan now down on the day. hartve with us stephen from -- sandler o'neill. pardon me. are seeing this as a tale of two wr banks. wells fargo tripped up on the net and chris -- net interest side of things. not an issue for jpmorgan and the other banks? tale ofould call it a two cities, even though citigroup does not report until monday. definitely a difference in net income guidance. it's important to remember there are some key differences between these two banks which make

vonnie? vonnie: kevin, thank you. meaningful calls, new legislation, or anything that might actually change the environment. let's bring in our bloomberg banking reporter. are well-intentioned, and there are social problems in this country. >> the social problems may be the biggest take away from the hearing so far. if anything, we're watching the --t apple of hours to see couple of hours to see if the big banks continue to see. i am wondering if alexandria ocasio-cortez will bring it up, she didn't bring it up during the wells fargo hearing. up during bring it the wells fargo hearing. bank of america has had some setbacks, issues also. they have had some exposure in the management division. not a lot on the systemic issue that patrick mchenry was talking about. lloyd blankfein tweeting a few moments ago, boy, i really miss my old job. it is comical but also a little bit ironic about lawmakers warning 10 years after the crisis, and there are arguably more social problems in the country than there were then, and not re

vonnie: thank you. hill,ing now on capitol the house judiciary committee holding a hearing on whether to issue subpoenas for the full mueller report and all of the evidence behind it. you can watch that debate on go>.mberg at live < this is bloomberg. ♪ guy: breaking news relating to renault over the last couple of minutes. this relates to carlos ghosn, it's former boss. the company is saying most of the expenses in terms of what they were looking at look to be ok. basically, that paying benefits sn from 2010 to 2015 are compliant. however, that some of the expenses are a source of concern. by the looks of things, this relates to some payments made in the middle east. we will get more on this story as we progress. we continue to watch what is happening with carlos ghosn of particular interest. let's get a market check now with abigail doolittle. abigail: take a look at the s&p 500 and the dow, up modestly. the dow reversing a small decline earlier, but the real rally in germany. 1.5%, its bestup day s

this is bloomberg. ♪ mberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn. time for the latest bloomberg business flash. retail sales in the u.s. unexpectedly declined in february. declines in grocery stores and building materials driving the belly of overall sales down .2%. it may signal further headwinds for the economy in q1. other recent data has offered a mixed picture. we get february durable goods orders tomorrow, march jobs on friday. the faa says technology issues that caused flight delays at multiple airlines have been resolved. southwest, don't talk, jetblue, and alaska were all affected. the carriers were using era data software that tracks the weight and balance of flights. the fight between jeff bezos and the national enquirer took another turn over the weekend. forrsonal investigator bezos accused saudi arabia of accessing own date of the world's richest man before the inquirer exposed his extramarital affair. inquirer said it learned about the affair of the brother of bezos' girlfriend. let's get a look at markets. .he dow is up 1% the s&p 50

vonnie: from new york, on vonnie quinn. this is european close on "bloomberg markets." guy: i'm sure there is something happening in european markets, but you've really got to look for it. it is very hard to spot. stoxx 600 up by just 1/10 of 1%. brent is now positive on the session, but only just. the oil market taking away some of the earlier sting affecting some of the oil stocks. that has turned around a little bit. even madrid, which was down earlier on uncertainty surrounding the elections, is back to flat. take a look at the foreign exchange markets. just 1/10 ofs up, 1%. pretty exciting stuff. the dollar is down a little bit, but not by much. 65.are trading basically 1.11 today feels like a very quiet start to the week, except for the nice data we had out of the united states pce. in some ways, one element of that, the spending and inflation , canceling each other out. vonnie: in the u.s., just marginal gains for the s&p 500 and the dow, up 1/10 of 1%. we are still grinding higher, well above 2900, approaching 3000 at this point. some of the news today is deals,

i'm mark crumpton, this is bloomberg. 7 -- vonnie: live from new york, i'm vonnie quinn. amanda: and i'm amanda lang in toronto. of vonnie: here the top stories we are following around the world. bolsterried to confidence since the fatal jethes of the max triggered grounding and investigations. did he succeed? reportt will first-quarter earnings results later today, will it surpass expectations as it did every quarter last year? the path to attainable fashion, we will talk to the cofounder of over it about how they are treading new ground. next 30hat in the minutes. let's get a quick check on the major averages. the s&p 500, grinding higher ,rimarily, the best performer gardener looking at both companies. the nasdaq is up one quarter of 1% as well. amanda? amanda: i want to take a quick look at roth margins. there has been a lot of concern about what we would hear about growth. this is the call from brian belsky, noting that after peaking in january, profit margins had softened only 2/10 of a percent. you can see it here historically evening, doing very well compared to t

i'm vonnie quinn welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world that we are following. global m&a appetite is on a 10-year high. what is fueling the confidence? institutethe milken 2019 conference to speak to brian kingston, brookfield asset management real estate ceo. one of the most powerful players in commercial real estate. plus, improving financial literacy for young women. an interview with girls inc. new york city ceo pamela around though. all that and more in the next 30 minutes. abigail doolittle is here to bring us up to speed. abigail: a bit of a down day but we are well off the lows. doneer the nasdaq had been 1.4%, still on pace for his birthday in a month. weakness on alphabet. the dow almost positive. we have seen a lot of intraday reversals. it will be interesting to see if that happens with the dow and s&p 500. i mentioned alphabet. s&p 500, nasdaq underperforming. alphabet down more than 8%. for theointing sales first qua

vonnie: the u.s. is increasing pressure on iran, oil rising to the highest in almost six months, with the u.s. government eliminating sanction waivers that allow buyers to import iranian crude. was the market anticipating this? alix: absolutely not. what happened last time, six months ago, crude prices were at the same level. everyone thought there would be no waivers. then last minute, trump comes out with waivers and surprises everyone. everyone is like, hands off, not going to make a bet either way. nobody knows what will happen. the hardline no waiver was a surprise. vonnie: how might iran react? >> i do not think there is much they can do. removing the waivers means that 2 million barrels of oil they have had in the last few months will go away. maybe not all of it, but for now the problem is it will be offset by production in the u.s. that is really what happened, and opec. typically saudi arabia will offset iran, and i suspect there was negotiation ahead of that. francine: saudi arabia has pled