recording numbers was expected, mainly due to the favorable american economy and increased private sector employers or able to pay graduates more money. have a preparations are underway in houston for tomorrow's funeral for former first lady, barbara bush. a public hearing is taking place today, and mourners are lining up ahead of time to pay final .espects mission the visit to the u.k. to deal with violent protests in his country -- demonstrators are c allegedwith police over government corruption. he urged police to show restraint. the syrian president says the prestigious legion of honor is on to assad has been returned to france. press recently joined u.s. and

britain in bombing syrian targets over alleged chemical weapons attacks. assad was given the reward by during aident visit to paris in 2001. global news, 24 hours a day, on the air, and at tictoc on twitter. powered by more than 2,700 journalists and analysts in more than 120 countries. this is bloomberg. i am mark crumpton. it is 1:30 p.m. in new york, and i am vonnie quinn. shery: and i am shery ahn. welcome to bloomberg markets. ♪ vonnie: getting nice in the weekend for new york city, from bloomberg world headquarters and new york, here are the stories we are following. u.s. stocks slumping as

investors digest the latest earnings. ge unloading railcars at shares of general electric are popping after announcing a time to unload its rail business, plus earnings top estimates. at trading tariffs the top the agenda at the imf in washington, we are live with argentina's finance minister, next. first, julie hyman is with us halfway into this getting session. we are in mid-april and we are seeing a bit of a decline. julie: and we see gains in stocks and we have breaking news it while the goat you mentioned, general electric is an talks with pennsylvania rail equipment to sell its rail business to them. we are not sure if a deal would get that, but this is what people according to the situation are saying to us.

scherzer surging, and general electric shares are higher following the earnings report are getting a further boost up. you can see ge shares are higher through the session, popping back up again. a $8 billionany is company, and berkeley has a note in april that the rail units could be worth $6.8 billion, so it could be a large deal. let's get the major averages, we see them hovering in the lows of the session. the nasdaq down by 1.1%. as we watched the s&p with two days of declines, it is once again lower for the year. the year to date performance, little change, but to the downside. we look at the year to date performance here for the s&p 500. it is down 8/10 of 1%.

if you look at the bloomberg, we have the worst performing troops within the s&p 500. staplesingly, consumer are in the worst spot and down by 12%. telecom services and utilities also lower. incidentally they happened to be groups that are sensitive to higher rates and inflation. in today's session some of the stocks going down including kimberly-clark, we're looking most in and cores, as well as clorox. we are seeing that household and personal care industry are in a tough spot because there's going to be pricing pressure from costs, because there's a lot of competition in the sector. finally, speaking about inflation, we have the 10 year break even, which is a market perception of inflation heading higher. oil is heading higher in yellow here, and industrial metals and blue also popping.

inflation is weighing on stocks as of late. andy: chase technology trust are at the forefront of world leaders mainz today at the imf meetings in washington. francine lacqua and tom keene are standing by. shery, andu so much, where delighted to be joined by the minister of finance of argentina. thank you for joining us. this year, the g20 is hosted by argentina, and your country plays a prominent role in warating a possible trade and wars on tariffs. this is a fruitful g20 and will we see the u.s. versus the rest of the world? >> it is not the u.s. versus the rest of the world. first, it is an honor to preside in the g20.

we are we engaging again in this bena and being invited to present in the g20 is important for us. i reviewed is that the most important rule in terms of coordinating the international economics -- the most important reachor the g20 is try to concerts to this group alive. francine: this and one support president trump's agenda of tariffs? there are different views of the meeting. we don't have to consensus -- we had as one year ago. i can say there is a consensus on the benefits of trade. trade seessensus is

jobs,ts, growth, innovation, productivity, and that provides benefits. although there is differences in fair trade. tom: the consensus we have seen in the heartland of america -- in iowa for example, i think soybean in iowa is the same as soybean in argentina. a soybean is a soybean, what does it mean for argentinian agriculture to see a president in america was bilateral, or maybe unilateral? have to your advantage to a trump trade policy? nicolas: if we focus specifically on argentina, the last few months we have positive news in terms of trade with the u.s.. reinstated in a system of preferences which were outside of that, so that is

important for our importers. in terms of tariffs to aluminum and steel -- argentina was exempted from the general list of tariffs. course, there's some differences in terms of our exports to the u.s. tom: what about china? from argentina to join anna and these dynamics, is it to your advantage to have trump's war on trade and does that benefit you with soybeans and agriculture products with asia? forlas: four argentina -- argentina, we see a limit on trade is a problem for the global economy. in terms of specifics, we were not affected in a wrong way.

your currency was one of the worst performance against the dollar in the region. pci,u have concerns about and how can you directed? nicolas: the problem behind that is inflation. argentina has a high grade of inflation. we are an economy in default with multiple fixed rates with a lot of positive restrictions to trade. we misaligned prices with utilities. we are in the process of normalization, that in the meantime produces an inflation rate that is much higher than the one we envisioned to have. of course, the reflection of the --avior of power affects because we have a high inflation rate with trading partners. .n real terms

francine: what is a realistic figure of inflation? nicolas: we have a target of 15%, and the target of inflation of 25% last year, so inflation is coming down. our target for next year is 10%. and then 5% within three years. 15% is unrealistic at the moment if you look at the trajectory, or am i wrong? nicolas: i think we are close to the target. yet to consider that inflation targets plays a role -- it is not a forecast. it is a target. what we are doing to bring down inflation rates. it has to be demanding, and if it is not demanding, it will not play the role we want. tom: i would love to know how you would speak to a congressman

, congresswoman, senator, not too far away from capitol hill, the american deficit. you lift this in a crucible, real-time in argentina. how do you respond to politicians who say i hired debt is no big deal? nicolas: for us it is a big deal because argentina was in default for many years. we need to keep our debt under control and be solvent. growth is drumming up, it is becoming countercyclical -- and virtually in the near future or years ahead, growth would not be as high as it is today. it is time to address the problem. the debtot to have

so much. francine: we head back to you in new york, but we have a special show on the imf coming up in 30 minutes. vonnie: we look forward to that special, and everybody stay tuned, it will be a good one. our thanks to francine lacqua and tom keene. coming up, tech is under pressure as chipmakers enter a third day. this is bloomberg. ♪

shery: this is bloomberg markets. vonnie: witness in tech is

dragging major averages lower today. treasury yields are much higher and on track for the biggest five-day against since february. chris wolfe, chief investment officer what management joins us now. it is an interesting take from someone in private management nursing the first part. -- >> we think the rest of the year is in a good range as well, sales are up strongly, and it looks at a good profit story come up with other side of the coin is the pe multiples and valuations that have come under pressure. we are sent to see signs of twolation pick up, and the sta things are going to pick up and that is what to be a bumpy ride. shery: your chart shows your multiples have picked back in

january, so is that expression leading gains, and will it rely on earnings? could it be positive but smaller returns? chris: i think that is the best take. lester was a tremendous year, was aceipt -- last year tremendous year, and this year has been a broad rally over the last several years. as you toward the later stages you get higher rates entire inflation. equity tense do better in sectors like finance, tax, and in some cases energy can do well in an environment like that. they're going to want answers or alternatives, they call you up and say, we have had a great run, and we look at volatility, tell me what i should do with the money. chris: thankfully they are not asking for bitcoin anymore. [laughter] about a welle talk

diversified portfolio, first as a focus on the goes and what is important to them. second is cash stocks and bonds, and looking for alternative sources for returns. at the end of the day, clients were qualified,. the bond market looks attractive there's a lot of, cash in capital there and the returns are still there. you to have a couple of million dollars in assets and income in those levels. you to be a credit in order to do those things. shery: the must be worried about the headlines with trade, and today we heard the treasury department officials considering an emergency law to curb chinese investments in technology. what would be the biggest risk for markets? is it a trade war with china early breakdown of nafta? chris: nafta is more important than the trade issues from china. and our perspective. there is more sensitive to from the u.s. stock market, not come back to that in a second. the key point here is the stock

market and economy are different. the u.s. economy is doing well and trade issues are small relative to fiscal stimulus, and argue is the profitability for most u.s. companies will be driven more by success around nafta than china. a quick point on china, longer-term the big story is where are starting to develop a much different ecosystem than the u.s. in china. that means the growth targets for many technology companies will have to continually reassess about what axis lovers access levels are. the 10 year yield is at 2.94. when do we had 3%? chris: it could be friday or today -- i think we're stuck in a range between two and 3% until we get signs which inflation picks up. one of the key indicators underemployment is that it has been reduced a lot over the get low levelsou

of underemployment, it tells you we are using up the focus we are on the sidelines waiting, and is when you get wage pressures. the risk is if the 10-year gilts to three and a quarter to 3.5, use a term called alternatives not good enough yet. but a tenure at 3.5 is an interesting alternative to equities. chris, thank you for that. it is time for the stock of the hour, and that is ericsson. would thinkbased i company is soaring and on pace for the best day since 2003 after reporting earnings. abigail doolittle joining with more details on the story. abigail: they put up a much better quarter than expected on an adjusted. basis. they put up a surprise profit, and investors are looking past that because they beat growth margins by 20 points. if we hop on to the bloomberg,

this is a terrific way to see what is going on. oaring,the stock s and it is or than the thousand points about the average. most analysts are saying these results are shown the company is moving in the right direction. evaluation is not so hot, but there is to point out here, today with the huge second volume suggest this is a short squeeze. of those short getting out of the stock and perhaps a turnaround is on the way, but we need to see a few more quarters of the company moving in this direction. i want to point out that the company handled 40% of the mobile service networking globally. that is amazing. eetnie: worked as the stret weigh in? encouraged,y are

but they have to see more signs of that stability. vonnie: still ahead, electric shock, g getting a boost from early results. it dig into the details next. this is bloomberg. ♪

vonnie: general electric is up more than 5% and up the most in three years as the company talks to unload its rail business, and earnings beat estimates. for more analysis let's begin work on research and mention founder and partner joined us on the phone. -- old beail business the price -- what will be the price? >> i am suspect on this given the size of wabtec.

we think it is upwards of seven or $8 billion. don't be an extraordinarily large deal and don't have to do a secondary or something like that block a deal that big. how does this compare for ge going to ip path or something like this? might limit the cash that ge capital out at the beginning, but perhaps they could do some kind of spain-merge like ge did with baker hughes. but in a transaction like that, ge is not getting enough of cash necessarily. i think the reason ge is pouring acid sales as they need cash, and they make a pledge to build cash bounces. something like this that would yield cash proceeds is a little

less attractive than an outright sale or even an ipo or they could cash proceeds. the results in an absolute sense were very tough, and the company still has a lot of work to do. the headline numbers were better than we expected, outside of power. most of the portfolio was looking pretty solid. the free cash flow was negative in the corner, -2 billion in the corner. we expect it to be negative in the first half, so we expect to two to be positive, but not enough to overcome this deficit in the first quarter. the earnings are obviously important to look at, but in the near term to so remain more of a balance sheet and cash flow story, along the lines of what i said about meeting proceeds on asset sales. until they show us better

visibility on cash, i think is going to be hard to get above the $15 range of this morning. shery: jeff sprague, thank you so much for that. they have a hold rating on ge. coming up, a special edition of bloomberg surveillance. francine lacqua and tom keene are at the imf in washington dc and you will hear from key world leaders, including the euro group president and spain economy minister. this is bloomberg. ♪

♪ >> welcome, everyone, to a

special edition of bloomberg surveillance. we are live from the road. >> on the road in a spirited imf. this has been a surprise meeting. than ire going on expected. francine: talking trade, tariffs, and we have had a really great day coming up for you. we just spoke to the deputy prime minister of turkey and we are speaking to a lot more finance ministers. trade, tariffs, this is what policymakers told us about the rise. >> what everyone is saying one way or another this week is very simple. things are good that they are getting risky. >> the two main risks for growth, which is now solid over .he world, are protectionism >> there are definitely trade

conflicts. know as of yet what the extent of the damage would be. believe in trade, trade will benefit everybody. we must believe that somebody will benefit. wrecks we have a strong economic relationship with most of the united states and china, and indeed, we are very keen to ensure that there is no such thing as a trade war. we do not believe there will be a trade war. >> the right solution is to not engage in any kind of war against china. the right solution is to engage china, to have china on board, much of theprove financial institutions related to trade. >> we know that free trade, open

markets, and staying away from section is him -- protectionism has lifted so many people out of poverty. it will not help us. we actually fail if we meet protectionism with more protectionism, because there will only be losers in this. tom: so many emotions there, the multilateral emotion as you would see at the world bank, assessing what is extraordinary here. few presidential suite of a days ago, a multilateral here. the president talked bilateral, is it isackstory here an america that wants it my way or the highway on trade. francine: and what does that mean for the right institutions or frameworks to deal with america if it is indeed the my way or the highway, which is incredibly close. you hear from the host of the saying the g20 was the right solution as long as they were able to negotiate as one.

tom: we are going to have some terrific perspective in conversation for you in this hour. the backdrop, again, is a fiscal policy. for me, that was the highlight. we had some good insight on that as well. and the surprises along the way. there was a bloomberg headline that came out a day ago, a day and a half ago, that the chancellor of germany will visit with the president here in a few days. hoyer is with us now, president of the german investment bank, and steeped in german politics. come toor merkel will america and represents a multilateral perspective, a multilateral europe. is a member of the -- as a member of the domestic politics of germany, how would you like her to explain german multilateralism to trump? mr. hoyer: what i can tell you she represents a multilateralism, ont is reflected everywhere

the european union. i believe she can beat convincing to president trump when it comes to preserving this wealth of corporation, which we have a vendor the multi -- have under the multilateral and rollup. -- umbrella. francine: what is the biggest challenge for the european investment bank? here to look at the top three priorities you need to do in the next 12 months. is there something in your control that you need to get done? mr. hoyer: number one, we have flagged the imf report that came imf-- we have read the report that came out this week, and there were dark louts on the rising. -- clouds on the horizon. that is the message from the european investment bank. we have to look back for the past 10 years. europe has been looking inward for the past several years, and we had not realized that the time when we were firing the financial crisis, the rest of the world has moved forward. when it comes to research,

innovation, our main competitors 12 oneworld have spent third on their gdp to develop information -- innovation more than we in europe have. that has resulted in a lack of receiving and productivity growth and a lack of competitiveness. more or less, it has been successful. francine: germany is very different to france. france is very different to greece. have quite a diversity in europe, and that is not a surprise. we have dealt with that quite well. 10 years ago, everybody in the united states would have said the eurozone was going to fall apart anyway. it has not fallen apart. it has gotten stronger. i am not worried about the regional differences, but we have to work on it. we can do that. we have to make sure that europe, it's relative weight of the world does not refuse.

to modernize that, modernize society about industry and our economic departments. tom: this is incredibly important. you talked about a new marshall plan and a new sense of investment for your bank and all of europe. how do you compare and contrast forhe mead -- the need investment in europe with solid, day after day discourse we see out of china, where new china and new asia investment? are you looking east across russia to asia, or are you looking to the atlantic when you look at comparative investment? mr. hoyer: the european nations are transatlantic oriented nations, no doubt. but we are a global economy. china has emerged as a strong partner. we need not be naive when it comes to strategic orientation of china, but we need to cooperate with china. we do it under the one belt, ron road initiative and other things, but the key initiative that must be preserved if you want to keep the western

keypective, though -- the of rule of-based enlightened democracy, we have to bring the united states with europe again. this is why i am optimistic, the chancellor will bring that message to mr. trump. .om: this is critical can you do that with the present administration in the united -- of, with many mercantilism. if you need to reaffirm the western blot, can you do that with the current administration? mr. hoyer: we have to try. it is not in the interest of the european nations and the interest of the american consumer, producer, -- francine: has the trump administration change the way you do things, and the way europeans should speak up at home? mr. hoyer: the european union has never been closer together than after the decisions on the american president and the decision of brexit. that has brought the rest of the

european union closer together than ever. we must not give up on our allies in the united states of america. i think we should try to do everything in order to convince the administration. however, the american president has -- months ago, and there are many opposites in the state department and many offices -- and many offices in the state department and elsewhere are still unfilled. i believe you are about to issue a new green bond, right? is there an appetite, a real demand? mr. hoyer: not necessarily. we were the avant-garde purchasers of green bonds, and by far today, we are the largest issuer of green bonds. we must now go one step further. [inaudible] that must be brought to life, and that means crowding in the private sector to reach these

objectives, and we have deals on the market. we have long issuance of stand ability bonds and papers today, and i believe the market is there. they will test this out and try to come to an international consensus on the criteria and principles of sensibility bonds. bloomberg audience knows you have to look east as well, east of europe. we had an interesting hungarian election recently, and the discussion of russia. what are your plans for the next 12 months in the european investment bank to strengthen eastern europe? mr. hoyer: we have been successful in getting the european nations together. it has worked out on the economic front with the baltic

states very, very well, and a central european nations as well. we had several problems in south eastern europe, but it was strategic mistakes not to produce is productive -- a perspective on the western markets. [inaudible] bulgaria, romania, and austria. the questiont is you get the most or that you have the most of the imf from investors? thehoyer: how do you see overall climate? how does the change to the geopolitical environment impact the economic perspectives, not only in europe, but worldwide? and what does that mean for the rebalancing of weight in the world economy and in politics? that is the key question. polar moving towards a world, and i will be very, very significant, in particular for the europeans, who have to secure their place in the world economy. tom: thank you for joining us

today, the president of the european investment bank. in our studios in new york, mark crumpton. mark: some frightening moments at a florida school today when a gunman opened fire, wounding one student, before being taken into custody on a day planned for a national classroom walk out to protest gun violence. the shooting happened this morning at forest high school, which was put on lockdown. ae wounded student, 17-year-old boy, was taken to the hospital for a non-life-threatening injury to his ankle. meanwhile, at parkland high school, students led a nationwide walk out on the 19th anniversary of the columbine high school shooting, which left 13 people dead in littleton, colorado. the united nations special envoy for syria said today that the war-ravaged country has had "a very dangerous week." him -- a meeting with the russian foreign minister, sergey lavrov.

-- priority for the u.s. secretary general that we come here to do this tour in various capitals. in moscow, the priority is to lower the temperature. the temperature, wind too much high in the world, potential of major publications. mark: the minister also said it was important for the organization, the -- a chemical weapons, to be given access to the site of alleged chemical attacks in syria. benjamin netanyahu reiterated his warning to iran today, saying his country "will wrestle with whoever tries to harm us." risingments came amid tensions between israel and iran over an alleged israeli airstrike. -- airstrike targeting a syrian air force base last week. ton has threatened

retaliate. china says its relations with the united states are "at a crossroads." speaking in beijing, china's foreign ministry spokesperson criticize proposed u.s. restrictions on chinese investment and american technology firms as economic ore scientific bullying." global news, 24 hours a day and twitter, powered by more than 2700 journalists and analysts. i'm mark crumpton, this is bloomberg. francine: up next, we will be talking to the newly appointed economy minister of spain. this is bloomberg. ♪

♪ welcome back to our special edition of bloomberg surveillance, live today from the imf spring meetings. i'm francine, as always, with tom keene. we spoke to many finance ministers, but let's get back to someone we haven't spoken to yet, because he is a newly minted economy minister, and he is roman escolano, the economy minister of spain. thank you for joining us. there is a lot we want to talk to about. we want to talk about trade, tariffs, reforms. what was the biggest surprise for your job? you have been in the job, you always followed the economy. is there something that surprised you? mr. escolano: i have been the economic minister of spain for just one month. i am brand-new in the position, but i have been surprised by many things. the intensity of the european base. i just joined.

we have prospects to find important agreements. we are debating europe at full speed. i have in my own ministry the areas of responsibility to things like science, which is an important part of research, which is an important part of the policies of the government, and this is extremely interesting. the discretion of the budget of spain happens to coincide with the first weeks of my ministry. been a bit at times, but a very important time for spain and europe. -- a lot do you find of g20 ministers rally against people asking for the end of globalization. mr. escolano: i think that is at the risk of broad consensus. a full consensus might be i would not go that far, but this abrupt consensus on many of the issues i will discuss. first of all, protectionism, i avoid the we have to

process of protectionism. there are protections that the spanish looks for in the global economy, it is they are underlying. in many of the areas, we see no -- of monetary policies, including europe, and we have to be prepared for that. you still have an economy that is full of debt. i would say these basic elements are part of the conceptions that i find when i discuss with my colleagues. there is also a consensus among my colleagues to see the spanish economy doing well. that is also a part that i can frankly say with my colleagues. noticedthis atrium, we the sweat in the crisis, and what has been noted is spain led the way to greater stability. years,look back, five six years, seven years, what we would call the pixie dust, what was the pixie dust of spain that allowed for you to recover so

perfectly? mr. escolano: i think it was not just one reason, but a few reasons. i would say that the main innomic reforms that were 2012, 2013 are what led to a great recovery. particularly, we have had a change in the law regarding the that has actually created persistent consolidation, which has been extremely report and. -- important. we also had banking reform. the banking reform a stronger in years,. the past its six tom: let's talk about europe valuations. we talk about germany, the netherlands, or countries struggling far more than a successful spain. do you have in your head a euro valuation? mr. escolano: i would not

comment on the euro valuation. tom: but month you will. mr. escolano: what i will tell you is the evaluation of the spanish expectations are outperforming not only the europeans or euro area, but the world trade. , spain is gaining ground in world trade. this is extremely part of the recovery. if you compare the spanish economy today with what it was six or seven years ago, we know we had reduction of eight points .f gdp we had the real estate boom and a lot of construction, growth links to construction. are exports.points we moved from this nontradable economy to a tradable economy, and it brought to the recovery. francine: the spanish but it was difficult. will it get past next week? -- will it get

passed next week? mr. escolano: we have a really a vicious target for reduction benefits. we be growing more than the european average. we are among the largest european economies. and then there is this social aspect, particularly regarding tensions. [inaudible] in political terms, there is no reason for the rest of the -- not to support. are onnister, we bloomberg surveillance new york, wonderful coverage from the bar sick -- from barcelona. msn update on how the nation is coming together after the challenges you saw in barcelona? mr. escolano: the nation is coming together around the

democracyon, and around our respected constitution. the polls, the latest polls, including from the catalan government itself, showed the support for independence is diminishing. we see the economic situation and the business situation, financial situation. we see the recovery in catal are calling for the catalan government to reform and go back to relations with the national government. i think it is an extremely important economic area in spain, and we want normal relations as soon as possible. we want this to happen, and let -- ay that we feel francine: if we talk about , what willstallation

germany likely say or push through, and what are the priorities going to be? mr. escolano: it is essentially the completion of a missing part of the economic monetary union. we have made tremendous advances in the last four years. more than people actually realize. we have single bank resolution systems, but there are still some missing parts. americane need companies for 70, --, but we still have national companies. we need a backstop for the resolution system to really function in times of crisis. these are our priorities. we think that the spanish government, and we will publish next week a paper on that, we need that physical mechanism that will complement the monetary policy, particularly banks. francine: will we get a banking

union in our lifetime? tom: at the end of the imf meeting. .r. escolano: i am a europhile we are used to having a step-by-step process. we have quarreling between ourselves, arguing between ourselves. at the end of the day, sometime at the very latest moment, agreements are found. this is the typical european way. in this sense, i think we are optimistic. we are clearly pushing for a european integration. you would find spain one of the countries that is pushing more for european integration. why? because our population is currently in favor of european integration and we think we benefit from this in the historical sense. tom: i will take a risk here because you have only been doing this for one month, there will be a new ecb president here in a year and a half or so. there is a raging debate that we newrve in london and york about should it be german, or that. what do spain feel about the

leadership of the ecb and how spain could fit into that equation? mr. escolano: what i will tell you is that in june, july, the ecb will have a brand-new vice president from spain, with my predecessor, an extremely talented and respected economist who will make an impact. he will leave his mark in the ecb. tom: so you should be able to move right up? mr. escolano: he is smart, and he has talents that work in the ecb. it has to be fully privatized by 2019. will that deadline stick? mr. escolano: banking will be fully privatized. -- theot think government to be involved in banking, and that is a government policy. second, we want to be sure that the money and support that was given by the taxpayers to the depositors of the bank are to the maximum extent possible recovered.

in the framework of these, we will advance. but the banking will be privatized, because we do know the role of the public on the banks. francine: that was the spanish economy minister, roman escolano . still ahead, we will hear from the eurogroup president. later run, we will also be speaking to the deputy prime minister of turkey. snap elections are coming earlier, and we will talk about trade and the position of turkey within the region. tom: it's an important interview. francine: this is bloomberg.

♪ tom: good afternoon, everyone. welcome back worldwide with a special edition of bloomberg surveillance. we are live at the meetings of

the international monetary fund and the world bank in washington. i'm for it -- i'm tom keene with francine lacqua. here's mark crumpton. the democratic national committee is suing the trump campaign, russia, and wikileaks, claiming they interfered in the 2016 presidential election and claiming that russia launched a brazen attack on american democracy that began with a cyber committee. this includes claims of illegal hacking and racketeering and seeks unspecified damages. in puerto rico, april -- federal control board is voting to double tuition at the island's largest public university. they are also voting to cut benefits to the school and consolidate some campuses. government and university officials are promising to fight the changes. the island is still recovering from hurricane maria, a f category four storm that struck

seven months ago. violent protests continue today on gaza's border with israel. protesters tried to set israeli fields on fire. over 400 protesters were injured. the protests are part of what organizers led by gaza's ruling hamas group have billed as an escalating showdown with israel to culminate into a mass march on may 15. britain's supreme court the product -- declines today to hear an appeal from parents who want to take their terminally ill toddler to italy for treatment instead of allowing the hospital to remove him from life support. this upholds a lower court's decision that it would be pointless to fly the toddler to rome for treatment. the toddler suffers from a conditional that doctors are unable to identify.

global news, 24 hours a day, powered by more than 2700 journalists and analysts in over countries. francine: let's get on to wear stocks are trading with abigail doolittle. abigail: take a look at the major averages. on thisa pullback here friday. the dow and the s&p 500 and the nasdaq lower for a second day in a row off of session lows, but nonetheless, the nasdaq is more than 1% down. what is interesting to note, take a look at the 10 year yield, up five basis points, up for a fourth day in arroyo, quietly creeping up to the 2.95%. not so far away from the 3% level, but the reason that stands out, we have stocks selling off. haven bonds are also selling off. so there is that confirmation of risk off, even though the stoxx selling off suggest that.

but the 10-year gilts trading higher is influencing the sector composition for the s&p 500. this is the imap, and we see the financial sector is the only sector higher, just fractionally, but yields trading -- tradingottom higher. let's dive into some of the movers behind the two worst sectors, down more than 1%. we are starting off with apple and microsoft. apple is down 4%, now down for a third day in a row, about 7%. , analysts bearish about the upcoming report in the june quarter guide. microsoft trading down in sympathy. pepsico is lower, and proctor and gamble lower by 1.2% on to down a list on grades -- to analyst downgrades, including deutsche bank. and finally, i would like to look at the did a chart of the bloomberg dollar index. it is climbing higher. while today might not be risk off, we do have the dollar

trading higher, suggesting some of those investors might just be heading to the sidelines in cash, francine. abigail, thank you so much. wither on, we sat down [inaudible] it is not marginal on anything, and there is a very good economic perspective. we are in a safe harbor in terms of the position. we are committed with the european project. we are a very little member of the group, and we work together. we build those countries to clear this subject. incentives, the tax what kind of impact does that have on real estate? it centeno: as i mentioned,

is really marginal at the big stage. the country is improving very much in terms of its economic conditions. to the been committed program that is staying up in terms of the results. an includedis now growth trajectory. it is very important to count on everybody. tom: where is the appropriate gallo for the -- value for the euro? we follow each country, each stories. thestraddle not only responsibility to support your goal, but for the rest of europe as well. in your head, do you have a right value for the euro? mr. centeno: we believe the value of the euro reflects the fundamentals. the economics behind it. as in the present situation, to occur.

, we believeupgrade in multilateral cooperation. we think it is very important to keep things at that level. economy. a very open among the largest economies in the world, it is a more open one. we really believe in these values. tom: we want to talk about the major themes, trade and trust. portugal has provided real leadership to all of the world with the fiscal reports at imf meetings. how do you perceive the trillion dollar deficit of america? the report is essentially dated to the united states. >> it is an issue in the united states. the policy and the fiscal policy in the u.s. as

being quite active lately. we think europe has a different stance. on average, we have a balanced budget. most countries in europe also have very strong fiscal positions. we are quite coordinated at the european union level. that is very important for us. taking the whole country into fiscal policies that are sustainable is very important. francine: are you suggesting that the u.s. is not sustainable, what are the ramifications for europe? what impact does that have on europe? again, the euro is in a very strong position economically. growing.

the culmination of business cycles in europe today is at a high level. make reform the euro area and add to our competitiveness. this is our focus. we need to do that in coordination with other countries in a multilateral setting. this is for trade and for fiscal policy, but we are quite confident on our trajectory. francine: minister, do you think that the eurogroup or europe as a whole can get exemptions from tariffs imposed by the u.s.? a majoreno: this is concern, i must say. it is why the european commission is in close contact with the u.s. administration to make sure that the temporary exemption is indeed permanent. we want to again stressed the

role of multilateral cooperation. it is very, very important to keep that at that level. the how do you respond to united states idea of a new bilateral discourse worldwide? this is a multilateral institution. led a multilateral debate in europe for years if not for centuries. bilateral,react to a my way or the highway trump administration? again, reaffirming the important and the evidence that multilateral cooperation farther and better in the future and in economic terms and simply bilateral is him -- bilateralism. francine: do you worry about the european economy? is it 90% trader also high euro?

mr. centeno: in terms of the growth of the european economy? my focus now as president of eurogroup is to improve the additional capacity of the euro. we implemented very important reforms lately. edese need to be complement by going the next mile. we know that we need to do that and this is our main focus. tom: eurogroup president mario centeno. a spirited discussion, including evaluation of the euro. someone who has been very good at studying the dynamics of the is the chiefriment european economist at bank of america merrill lynch. we often see him at our london desk, occasionally in new york. it is wonderful to have him with us in washington. ist i love about your inside

that you are going continually against the grain -- completely against the grain, it is going to be bad. you have a much different tack of optimism. how did you get their? reference was for the imf staff. you would expect the staff to be very cheerful, to be very positive, to tell us it is one of the best years we have had the great recession, and actually, two centuries after the beginning of inflation, it was always about the risk. there is also the sense we do not know how to deal with the u.s., plus a series of data that is disappointing over the past two or three months. there is a weird disconnect between the forecast, which remains generally very, very strong, and a sentiment of discontent among many parties here. tom: we have had very little discussion over the last four days about how the financial

our greater into economics as well, the green book, financial stability book. is it a good banking system? is it a good financial system? mr. moec: i think that the hope, at least on the european side, is to say we need to address all s in a matter of years. we need to come up with a banking union, we need to deal with the most obvious shortcomings, like architecture. and the ambition is being lost. we can see this on banking unions, for instance. we are losing a sense of momentum here. the risk is actually, if we get into a face of normalization of monetary policy, it just rates start getting higher and we have not completely dealt with the great recession. francine: meaning what? you could foresee a recession with the interest rates having

normalized enough to not be able to cope with the recessions? mr. moec: that is an issue. you have a number of central banks, and i think the ecb is one of the -- there. you have to be super cautious on the way out in your exit strategy. we are making baby steps on normalization, and we should. that, for one reason or another, the global cycle stops inching down, there is nothing left in the arsenal. that is the part where we are now. is stayingilles moec with us for the imf world bank special. earlier on, we spoke to the turkey deputy prime minister, mehmet simsek, on the president's call for earlier action and why he thinks it is good for turkey and for investors. markets reaction show that the reason is that essentially saves investors from getting

worried for 18 months. normally, elections were scheduled for november 2019. so that brings it forward. so that reduces the uncertainty. plus, snap elections mean you do not have a prolonged campaign period. only two months. election economics is highly andly to be very limited, normally associated with the election, it is in the top five. i think that is good for investors. it will get a fresh mandate and hopefully start reforms. francine: what is the question you get the most? is it owns -- is it on snap elections or the falling euro? deputy pm simsek: i had a meeting yesterday, a number of u.s. institutions, u.s. banks,

they were able to interact with hundreds of investors. i think they are wondering what kind of policy framework where the lobby postelection? will turkey jumpstart second or third generation reforms to avoid a trap? things like that. the key questions. it is less about the outcome of the elections. it seems like everyone is banging on -- banking on any term. the public service to your nation has been the appreciation of the turkish lira. there has not been a lot of central-bank action on the lira yet. are we at a tipping point where if there is further lira depreciation, devaluation, do mr.and mr. heard -- erdogan have to act?

-- moec: hasty pm simsek: the lira been weak. some supports for the lira would help. i cannot make a call, because the central bank is independent. having said that, clearly some support would help. tom: within that, and the idea of some support would help, is the idea do you do it yourself, or do you need institutional allies to help turkey to stabilize the lira or strengthen it? going to simsek: it is be a combination of factors. first of all, i think elections and postelection, rewriting reform programs, moving to a more simplified monetary policy was thek, i think that strongest message.

this is likely behind turkey in the sense that turkey has been recovering very strongly, the economy has done very well last the momentum is still reasonably strong. it is moderating. we should ease some of the pressure on inflation and deficits. so we see a strong fiscal solution. we have low debt to gdp, and the banking sister is still in decently good health. the two rough spots in the turkish economy, i think with some moderation and credit growth and some reform aspects, we could kind of like regain the market confidence and put behind the difficulties. francine: i want to get on turkish credit in a second. when you look at the devaluation of the lira, 10% in march, why has the central bank not acted? deputy pm simsek: they have recently indicated that they will act. i think it is important that we bring inflation back on a single digit.in

this is very critical. the only way turkey was able to deliver very strong growth -- by yearsy, it is 5.8% for 60 -- it was on -- 16 years, it was on the back of inflation. strong economic policies, structural reforms. francine: what is the central bank truly independent in turkey? deputy pm simsek: legally, there is nothing holding them back. they get appointed for five years. they cannot be removed. they only mandate the price stability, and in that sense it is independent. debatere has been strong about what the monetary policy should be. whether that has been affected or not -- francine: the central bank meets on wednesday. do you think on wednesday, they decisions

independently regardless of political input? deputy pm simsek: they are independent, and they can act in the ken lay, so it all boils down to the monetary policy committee. legally it is so and practically it is so that there have been locations and times when the central bank did respond and debates were monetary policy should be. tom: i want to ask you about the sprawl in the middle east and in turkey that we see right now. your claim is what you did to the turkish economy. i think of the return of marco polo, a book that is talking about the new eurasia. how does your turkey deal with a -- how does it fit into the region in three years or five years? deputy pm simsek: first of all, turkey right now is the world's holding -- refugee

holding country. tom: are you getting enough support from the west on that? deputy pm simsek: we appreciate the support, although it has been slow and limited. turkey has spent over $24 billion over the past few years already. we can afford it, and we are doing it simply because we feel we have to do it, because they have no choice. they are running for their lives. my point is turkey is looking forward to a somewhat more stable, more democratic, more peaceful region. why? we want to help reconstruction. we want to help. i'm not talking about business here. be helping, but we need to have a lawful environment. the good news is the by barrick isis has beenic dismantled. that is very important. it is time to stabilize syria. iraq has gone a long way in terms of stabilization.

then we can talk about reconstruction. your childhood in southeastern turkey, all the different tensions within turkey theo you see the chaos of political, domestic damage has been done, do you see a new turkey that can be a more domestic peace from the west of turkey to the east? deputy pm simsek: the current havey, unfortunately,, we experienced a number of problems. to try to unusual grab the power. it is an aria in concept -- area concept, but aryan it is not far behind us. at one point, turkey will be subject to major terrorist attacks. we had 911cause borders of kilometers with syria. syria is no longer a functioning

state. turkey -- we built a wall, we are under control. what we are trying to say is this requires going back to helpingening and democracy boost fund mental rights for everybody. i do not believe that there is less of a commitment to peace. what is happening right now, the threat level, the perceived threat and the real threat is there, and that is why turkey is responding the way it has responded. i want to go back to the economy and the lira. is there any way to support the lira at the central bank can do without raising interest rates? i thinkm simsek: talking, clearly, at some point we have to convince the markets that we are able to bring inflation down, that we are able to contain the deficits. all around us is change.

right now, global growth is there and maybe will sustain for a couple of years. but this is a time when we address underlying vulnerabilities. the bright spots are we have a strong fiscal position with a healthy banking system. the economy is doing well, but the rough spots need attention. that mean that something on wednesday, it would be a strong message to the investors -- deputy pm simsek: i know what you are trying to get me to say, but it would not be appropriate for me to comment on what the central bank will or not do on wednesday. tom: the deputy prime minister of turkey, mehmet simsek. us, theoec is with chief european economist at bank of america merrill lynch. what is so important is the overwhelming theme -- year one and now your two, which is the

trump administration and a new american foreign-policy. -- a new eurasia, these geopolitical dynamics that play into a better global economy. we have a better global economy. how do we sustain it? mr. moec: we have a better world economy, but we are also getting a lot of noise from washington, d.c. in the form of fiscal policy which is coming out an audit moment at the sense it is very rare to get into a proper fiscal expansion at a time when the cycle is quite, quite strong. brought inve been their approach, hiking rates without raising for inflation. in -- when hecome came in, nobody really knew who he was. from europe, what do you want to see from chairman powell? mr. moec: the interest of europe

is to get the most hawkish monetary policy you could expect from the u.s.. -- europe, the biggest issue at the moment is our own monetary policy is that because we are afraid of triggering too much of a currency depreciation, which is already quite significant. they sound hawkish, the more they continue to deliver on the dots, the easier it is for --ope to know more lies normalize its monetary policy at its own pace. it is an odd situation that a lot of people in the world would like to -- fastere: if the fed goes than expected, does the ecb really have to start talking about tapering asap? mr. moec: i don't disagree. we are a very open region. we have always felt it out. exports to gdp, the ratio in europe is different than that in the u.s.. get on the can

external side, the more we have time to fine-tune monetary policy on our domestic needs. without being stuck in the state we are now. francine: thank you for joining us for our imf special. tom, it was fun. most of the time it was fun. tom: in all of the years we have been doing this, this was one of the most surprising steps. francine: people were cautious. they were not talking about commonalities, but say at the moment it is good, but we do not know what it looks like in two or three years. and that reflected the cautious longer-term outlook. from the imf, this is bloomberg. imf, this is bloomberg.

♪ i am scarlet fu. julia: and i am julia chatterley. welcome to "bloomberg markets". ♪

scarlet: where life at bloomberg headquarters over the next hour and you're the top stories we are covering. 500 tearsg, the s&p gains. and trumps twitter target today is opec, crude oil is slipping as the president takes a swipe. surging with talks of ge ready to unrail units. pictures are at the center of it. abigail: you see session lows close to selloff for the nasdaq at 1.3%. as scarlet mentioned, down for a second day in a row.

at the consumer index also lower. as scarlet mentioned, the big theme is technology. the stock is down 4%, so example find the degree of the tech selloff. look at the s&p 500 for the week, we see some volatility here. wednesday was the session high for the s&p 500 -- up more than 1.4%. 4/10 of 1%, by paring those gains. and behind that is the tech sector, we looking at apple, facebook, cisco, and the tech stocks are down sharply, apple for the third day in the role. the worst three day slight question time. analysts weighing in with concern about the companies march quarter results, including global, which downgraded shares from a positive rating, setting

concerns with china, and is winging on other companies. that is weighing in on other companies and investors are nervous heading to these take earnings reports. let's turn to ge, a bright spot for the day. up morere higher and than 4% and on the best paste since 2015 after bidding adjusted estimate earnings by 33%. the also beat sales estimates by 4.4%. health care very strong, and the scarlet dimension, the news that the company is in talks to unload its rail business in a deal with waptec,'s investors are hoping that is the case. out, iflly run the get we look at the 10 year yield haven boss selling off for a fourth day in a row, you wouldn't expect that wealthier stocks, and we see the gold and the yen selling off, which doesn't confirm a stock selloff.

but it is interesting to note that bloomberg dollar index up may suggest that some investors aren't going into any of these asset classes going into the sidelines and into cash. julia: thank you abigail for that. let's get a first world news update with mark crumpton. mark: the democratic national hisittee suit donald trump, campaign, and wikileaks, alleging they conspired to help trump went the 2016 election by breaking into dnc computers and stealing tens of thousands of emails and documents. the lawsuit in manhattan federal court six unspecified damages and in order to prevent further interference with dnc computer systems. johng secretary of state sullivan is calling out syria, russia, and china as the worst offenders of human rights last year.

according to the annual u.s. global human rights report, russia was cited for abuses in the crimea region of ukraine while china continues spreading the worst features of its authoritarian system. sullivan the north progress has been made in other areas of the world, just uzbekistan and liberia. russia maybe coming up evidence of a chemical weapons attack . two weeks of obstruction by russia and syria are hurting the investigation. the minister went on to say that it is probably aimed at allowing unspecified perpetrators to make proof that material evidence disappeared. syriacw inspectors are in and have been unable to visit doma. china says it's religious with the united states is at a crossroads. china's in beijing, foreign ministry spokesperson

criticized proposed u.s. restrictions on chinese investments in american tech economic,nreasonable, and scientific bowling. preparations are underway in houston, texas for former first lady barbara bush. a public hearing is being held -- a public viewing is being held today, and mrs. bush died on tuesday at the age of 92. global news, 24 hours a day, on the air, and at tictoc on twitter. powered by more than 2,700 journalists and analysts in more than 120 countries. this is bloomberg. julia: let's bring it back to one of today's top stories. president compass group sizing oil, saying opec is added again with record amounts of oil all over the place, including the fully loaded ships at sea, and prices are artificially very high. no good, and he will not be accepted.

live in houston, the perfect place david, because i what begs tohat differ is texas, as the russians pointed out today. state that gave trump nearly a million votes over clinton in the last election. it is an economy for the state of its size is bigger than all of australia. ismeans a lot, so it performing well because of what is happening in the oil industry, particularly in west texas. as oil prices go higher, unemployment has been falling across the state. is nearly 2.5%. oil drilling here as oil prices go higher as benefiting the state. scarlet: as you look around you

and see how companies are responding, where d.c. things hadn't? -- where d.c. things you see- where do things headed? a good question because you wonder how much they will respond versus they try to do what investors want to see. lately what investors want to see is more prudence. the big problem for oil investors is that these explorers have been drilling too much on producing too much oil, and that is hurting profits and not giving returns back to shareholders. and investors are the mining to hold back and not spend as much. them it's producing less. by that token, also means oil production or prices will rise. you heard the large oil services

company say that could lead to a challenge in the coming years that will not have enough supply to meet demand. scarlet: david, fantastic to talk to you. let's switch gears and talk about the share off in. tech sales the tech heavyweights facebookxt week, and and twitter on wednesday and amazon on thursday, and we see tech shares weighing on the market. where are joined by mike reagan. there's a lot of concern that we will perhaps see numbers in the usage that indicates people are pulling back, especially with facebook. mike: you don't get a sense of facebook user numbers between earnings. it is difficult to tell. that certainly is a big part of what is front and center in people's minds. also, this apple selloff is significant.

you have the taiwan semi conductor news the other night -- they are worried about iphone shipments. are backuctor stocks to the front and center in people's focus. it is an interesting time because they have fallen in this valuation where buyers have stepped in and the past. semi conductors are 14% and earnings, and that is the bottom of the spells they have had. it will be interesting to see if it pulses time because there is a plot of more concerns being layered on. a lot of long-term optimism for semiconductors is coming from crypto mining and automated driverless cars. there is reason to wonder about that story going forward. julia: the ongoing power of netflix after the results and the divergence you talk about with apple -- we are showing a chart that shows you to extremes of the market.

is a driver of the overall -- talk to me what we are seeing there, because we see this big pop in commodity prices, industrial metals are having an impact. u.s. 10-yearp of gilts, there's a lot of things for investors to watch. mike: and those two things are joined at the hip. you see the metal price rally -- whether it is fundamental are based on trade concerns, it is looking like it could be inflationary. that we have the tenure back to the boring level of 2%. worry aboutday we the curve flattening, and then we worry about the 10 year creeping higher. pick the tenure is a bigger concern for investors and the flattening, and in this case you have the 10 year and to the dollar rallied strongly over the last two days. disjointed for

at the, and if you look dollar indexes, it is range bound for the year, but it is at the top of the range and it makes people nervous too. scarlet: at the dnc is suing everyone. julia: a lot to think about. our thanks to mike reagan. soar, and ge shares company is in talks to unload its rail units. this is bloomberg. ♪

julia: this is bloomberg markets. scarlet: let's turn to earnings

news. ge stunned investors with a solid earnings report. it shows jihad the biggest earnings beat in years, bidding average analyst estimates by 33%. brooks sutherland joins us now. big become ahave a but it also had a lower bar. the fact ge affirmed its guidance is key. >> i will say they affirmed it for now. there's still a lot of question marks about whether or not ge will be able to make those numbers to their credit, and there may segments -- profit was above. analyst estimates but they are starting from a low earnings base given the statement -- there is a high hurdle to clear to get to this eps estimate. the power will be lower than ge forecasts, so it will be earnings from aviation and health care to make those numbers. julia: you are a tough lady to

so how credible is it? brooke: they are sticking with it. they are confident in their ability to hit this goal. we will have to see -- the second quarter is going to be key to be able to see if they keep up this momentum, especially in the aviation business. revenue mixed issue happening because the jet engine is new, and those will wrap over the course of the year. talk to me about the comparison in terms of honeywell and what we saw in revenues. you make a great points here, and it is valid. will organicnew sales were up 5%, and ge sales were down 4%. i think honeywell expectations were elevated and exceeded expectations and did very well in the quarter. ge has a lot of

ground to make up after the hit of shares over the course of the year. brooks: and to back up point, the venues may be behind. brooke: things to look forward to. sutherland, a great piece we recommend you read. staying with ge, let's get inside for the company's talks to sell its century-old locomotive business. story --reak the congratulations on the school, this is a big chunk of the business. talk us through it. >> they have outlined for a while that they have wanted to exit and looking at various on options of selling it and doing some other kind of breakup of it. nicely and is clean and there's not much antitrust at all, what is interesting is

that went tech is the same size of its current market cap of $8 billion. the way it is structured is will be something that they will have to do a lot of work on. i suspect it will be some type of merger. ge will on a considerable piece, and is a question of overtime ge once a stake and asset. scarlet: there's an argument for ge to hold on because transportation is one of the most profitable units overall, even as they have said they want to diversify the business. ed: it is a good unit. have exited businesses that are doing less well, and transportation is something they like and has historically done well. they will keep an interest in the near term, but it is a question if they exit completely, and if so, how? julia: we have been talking to you for days and weeks with at&t and time warner, and at&t did

their side of it. was a timeline on decision-making. ed: at&t played it cool in the way that it allowed them to do it. at&t and time warner have stuck to it, and there are synced look, we are putting together two companies, it is a vertical merger, there's nothing like this, yet not like. anything like this before. we are in the world with youtube and amazon who compete with us, and we have headwinds. merger it iso this harder for us to survive into the future. it was easy for them. the government gave them a layup. there is no smoking gun or anything for them to answer. scarlet: this is a dumb question, but say that judge favors the companies, is there any records after that? -- is there any recourse after that? ed: trump think trump, it is

possible he comes out swinging in the press. edrlet: and hammond, -- hammond, thank you so much. the acting director of the consumer picture bureau does a big the $1 billion fine imposed on wells fargo or board members is excessive. mick mulvaney spoke today to bloomberg television. >> the recognition by whilst but this issue behind them and his activity that took place at the previous management best have agreed dramatically to increase their compliance and oversight capabilities at the bank. scarlet: bitcoin is back on the move in the world's biggest cryptocurrency is back on pace for its week of gains. bitcoin got more than half after surging 1400% in 2017.

today's increased best gains to almost 29%. fairfax is a great to bite a canadian. a toys "r" us and will pay bit according to a practice a court filing. allows potential buyers to enter competing proposals by monday. that is your business flash update. this is bloomberg. ♪

julia: this is bloomberg markets. scarlet: it is time for options insight with abigail doolittle. abigail: joining me a scott bauer, happy friday to you, and on this friday we are looking at a selloff for stocks for a second day in a row. , and nasdaq,500 seems that a lot of jitters in

traders and investors in tech earnings. what are your thoughts there? yet, but the apple news that came out of asia, which really started the news cycle over the last couple of days come and i firms coming out saying that global phone sales are not going to be up to snuff. that is leading the downward move today. i think the market got to complacent to quickly. the get the last couple of to 22 in trading, the 17 range, and in some but he flips the switch and the pressure was to the downside in vix. there's too much going on between the 10 year approaching 3%. the commodity space going nuts, and don't forget tariff talks. with the opec meetings this weekend, and the important tweets that you don't know when

is going to come out. a great rundown of all the factors traders and investors are dealing with. the described lots of volatility and the potential for come and is showing in the s&p 500 for the year. you think we are more likely to meet a new lower low an all-time high first? scott: i will go with the all-time high. the market has held in their. since the big low spec in early february, we haven't quite touched there. if i am betting one way or the other, it is on the upside, but that is not without bumps or volatility. you can see behind me, there is a lot of upside called buying. abigail: what is the catalyst for the all-time high? what moves all the jitters they are dealing with right now? scott: we have seen earnings ort are pretty good, up 15

70% in s&p 500 companies that have reported so far. we are earnings closer to 20%. who were exuberant about expectations were in the 17 or 18% cap. that being said, the market hasn't reacted positively yet because there's so many of these overriding themes right now, a la geopolitical risks that are still in the mix and we are not allowing these earnings that we have seen to really take hold. ien everything flushes out, think that is going to be the catalyst to the upside. resorts isknow wynn the outline of your trade. scott: i really like wynn resorts and withstood the garbage that came out with stephen wynn. i like the fact there is a lot of analyst upgrade and guidance upgrades as well. i do get with the option market

is doing, and they are pricing a 12 or $13 move. we don't know if that is up or down, but i like the technicals and upside. i want to look for reward to risk and look for opportunity. i want to buy next week's call spread. to do that for a dollar. abigail: we've got to leave it there, great stuff, scott bauer, think of for joining us. julia: a quick look at the markets right now. the dow, s&p 500, and the nasdaq, and apple is in the spotlight, tracking at the 200 day moving average. we will talk about what is going on. this is bloomberg. ♪

mark: i am mark crumpton with first world news. president trump indicated travel -- he will travel to russia if vladimir putin visits the white house. he said resident to make the

offer last month to congratulate putin on his reelection. fight the moments at another florida school when a gunman opened fire, wounded one student, before taking to custody on a day planned for a national custom walk that the protestant violence. the shooting happened is morning at forest high school, which was put on lockdown. the wooden student, a 17-year-old boy, was taken to a hospital -- the wounded student was taken to a hospital for non-life-threatening injuries. students led a nationwide walk out on the 19th anniversary of the combine high school shooting which left 13 people dead in littleton, colorado. south african president has cut short of a visit to the u.k. to return home and do with filing protests. demonstrators and police pots during protests over alleged government corruption. ramaphosa is calling for