compared to baseline, jerome powell is slightly dovish. mark: boe market expectation now that theresa may is done and dusted, a lot can happen in a month and a half. are you saying, yes, made, does carney lay the groundwork for that tomorrow? neil: that has already been happening. today's, the u.k. inflation numbers, better than expected, a lot of interest rate forecasters in the u.k. were talking about, maybe the may rate hike may be in august rate hike antedate we had good numbers from the industrial trends survey's. the metrics above the long-term average is. mark: wage data highest since 2016. neil: unemployment rate falling this by brexit which puts may on the agenda. tomorrow will be important. worth pointing out that the ftse lowest atis at its the year and has not been performing well related to the exchange rate with stronger currencies on the strange rate. cable at 140 will impact the stock market. mark: are we had a post-brexit low when it comes to the economy? have we seen the worst? projections before brexit were doom and gloo

meetingstart the policy with jerome powell. we are listening for the rate decision that more importantly what we see from the fed later this year, how many hikes will there be and the saudi crumb prints meets donald trump at the white house. -- crown prince meets donald trump at the white house. let's check in on the markets. an hour and a half to go before we see the open across europe. nejra: we saw a drag coming from tech stocks. as we look across the region, the kospi and hang seng doing ok. a little bit of a mixed picture but let's talk about tech areas what we saw with the nasdaq dropped for a fifth straight session is the worst losing streak since november 2016. facebook had its worst day in four years. what we saw with the drag from takingh stocks, it is people question whether this has to do with fundamentals or the selloff will see a rebound. it put pressure on facebook shares. it has been underperforming the tech sector by quite a bit. toward its 50ing day moving average. this chart people say this is an argument tha

jerome powell didn't really talk about that. his communications policy seemed to extend what ben bernanke and janet yellen did during their tenure. mark: kevin, just coming back to tuesday, from what you have heard, how did the white house take the fed chairman's first testimony to congress? they liked it. i was speaking with a source before coming on, who noted that this pick, buy yes, he doesn't have the traditional background that other folks and other fed chairs have had, for the large part he has been a consistent successor to the fed chair yellen. with the exception, has mike mckee noted, regarding inserting his own personal thoughts on the economy. , but onumpian, and away the flipside of that i think he has been greeted warmly by republicans in all factions of the party, including the more conservative faction of the tea party, which to some extent in the past, let of course by the likes of the heritage foundation, have questioned the transparency of the central bank areas largely, he has received a warm welcome. anecdot

jerome powell is a known quantity for us. for the past five years, he has been working side-by-side with former chair yellen, signing off on her rulemaking initiatives. powell was probably a voice of restraint in the background at the fed, but not a voice of dissent. he voted affirmatively for most of the dodd-frank regulatory infrastructure that is in place today. nejra: we talked a little bit about how the dynamic might work between jerome powell and randal quarles. what is your view on that? ben: my view is the view of the chair is most important. i think given the place that the economy is in today, chair powell will focus on monetary policy and look to raise rates three or four times through 2018. i think he will allow quarles to take the lead going after the industry, seeing what banks they supervise and feel the most important recalibrations to the dodd-frank act. ultimately, i think they will move forward with whatever chair powell is comfortable with. nejra: ben, what impact might they have? ben: he was appointed by

just one hour the new chairman jerome powell will make his first big decision on interest rates and hold the first news conference as fed chair too. >> and you are looking live at the financial capital of the world where investors are awaiting for that decision the statement and the forecast for the rest of the year >> welcome to this special edition of "power lunch" from a snowy stock exchange and i'm michelle caruso-cabrera with melissa lee and tyler. just under an hour until the race decision dropsful right now we're rallying into the close this hour. but it could get more volatile depending on what the fed does remember, on any given fed day, there is the market before the decision and after the decision. the industrials are higher been 139 points almost 140 the s&p 500 higher been 13 points an the nasdaq higher by 29 points or .4% highest level since september of 2008 which we look at bond

people like jerome powell, ironically. they are not necessarily good for the long-term health of the u.s. economy, and that is his job. if you think about it slightly more prosaically, the trade-off between capital and labor, the share of capital that has been taken by gdp, a generational high. it may be, in a rather ironic way, perhaps donald trump's policies, a slightly higher interest rate which will lead to a change in that situation. higher interest rates help pension funds, for instance, and there is a number of issues in the background that make me feel we are moving to a new interest-rate policy. if you look at the actual crude numbers, people little bit too focused on the 10 year treasury rather then the short end. short ends are the new high on friday. there's two-year treasuries. is my driving point at the moment, matt. matt: certainly, you can imagine a lot of favors, retirees, maybe, support donald trump, and he wants to give him a little bit back. i am looking at the dot plot. not obviously implying donald tr

have jerome powell's first meeting as governor of the us federal reserve. that takes place tomorrow and wednesday. and we have the bank of england, so there is quite a bit going on with central banks. but also in terms of how markets did today, you can see that is how things ended on friday. this is australia and hong kong, but it is important to note that japan closed down by almost 1% at the end of today's trade. a lot of the losers today's trade. a lot of the losers today our suppliers to apple. for example, samsung shares were hit. these companies are the companies which make the displays for apple products, the iphone and the ipad. that is huge in terms of revenues, but could be lost if apple starts to make their own screens. let's look at europe quickly so you have a sense of how the european day is going. iam sense of how the european day is going. i am hoping we will get the european numbers. we are trying to change them, but we can't, so i will hand over to jamie.

a consistent measured message out of the new fed chair, jerod powell -- jerome powell. happy friday. not if you are a market bull. we have these interesting comments, joining the huddle of bond bears, like bill gross and ray dalio, warning that we are truly in a bear market. he expects the 10-year yield to get to 3.75% by year's end. that is a conservative view. we have seen a steady march upwards for about august-september last year. are the markets comfortable around 3%? we keep saying it is not about the magnitude, but how quickly we get there. do you expect this to be something that could create another leg in the selloff? kerry: you hit the nail on the head. it's about the pace we have seen bond yields move in the first couple of weeks. it was an aggressive move that caught markets off guard. yields have been rising since the back end of last year. we saw the reflation theme build up. and whathead to 2018 we see in the markets, i do think about that, reflation theme 2.0. we are seeing pressures that are .ampant we still see bond yields being wet due to the fact tha

what you just said about jerome powell, business as usual, thatis jerome powell, business as usual, that is a help right now, isn't it? absolutely. the fed has done a fantastic job of absolutely. the fed has done a fantasticjob of getting interest rates up. that has kept markets calm. it is important the continuation of that is his policy. you will see him struggle a little bit with the first communication he has to make. but that is ok. let's talk about a story sally has been excited about. amazon and alphabet have overtaken amazon in terms of market share. other way round, sorry! it's just kind of showing us about sentiment and perception at the moment about facebook shares, google shares. your thoughts? alphabet makes most of its revenue from advertising. it is google ads. they are targeted, they do involve data. amazon is a bit different. it makes money from lots of different places and not so much the advertising. it does get a sentiment kick when we see companies like facebook and google being pressured by people asking, are they doing nasty things with my data? the concern is more

it was still reacting to comments from new federal reserve chair jerome powell which suggested interest rates could rise faster than expected. remember, it was the hint of faster rate rises just a month ago which sparked those huge global sell offs. jerome powell will be speaking again in the us today. and in europe, the markets have been trading in the uk forjust over a0 minutes, and the ftse is down almost one third. keep an eye on sterling which fell to its lowest levels since mid—january yesterday after theresa may, the uk prime minister, said she couldn't accept the eu's draft withdrawal text. now the details about what's ahead on wall street today. there is a lot of economic data for the market to absorb on thursday. the weekly measure of how many have made their first claim for unemployment benefits and it is expected to show the continuing strength of the us labour market with a very low number. there's also monthly figures for how many cars were sold in the us in fabbri, they will be released by auto—makers. the total is expected to show a slight decline in the numbers bein

give us your thoughts on jerome j. powell. he spoke before the house which was in my opinion a clown show. but it was a more respectable q and a today it seemed like he tried to make sure investors understood he's not going to derail this rally. >> he was very measured. it was clear the senators weren't more prepared. they weren't trying to bait him with political questions like they were tuesday. if somebody asked him a simple question he gave them a yes or no. it's his tear calculation to see the looks on the faces of these politicians. but he did reiterate it wasn't the fed's place to take a position wet stocks were going up or down. -- whether stocks are going up or down. charles: wink wink, come on. >> the fed pays attention to the market. but jerome powell is a big boy. he'll let investors take risks. i applaud him. he's quite refreshing. charles: you are refreshing and quite knowledgeable. staggering numbers on the high school graduation rate in one of our biggest cities. coming up. it's time for the 'sleep number sprin

. >>> coming up, stocks ending on a high note as investors wait for the fed chair, jerome powell, his first news conference tomorrow, everyone is waiting with bated breath. i'll walk you through it when we come back. they appear out of nowhere. my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. . charles: orbit saying one of older websites may have been hacked, we're talking about 880,000 payment cards. . charles: it was another one of these rollicking sessions for social media stocks as facebook continued to stumble over explanation over the way it handled customer data and personnel change there. people don't know what the heck is going on. and twitter facing their own issues as the israeli justice minister

it was noted that jerome powell did not shy away from giving a personal touch in his testimony. does that have any read across to how he might tweak his view on financial regulation? ben: the personal touch question is more important in the monetary policy world with a fed chair has been a dodd amongst many and has tried to disguise from the markets which he represents. we have better guidelines. we have statutes which the fed chair has to follow, that's the dodd frank act. we have public comments from the chair, which delineate his priorities. we have a pretty good idea of where the fed is heading, in that direction. nejra: what are some of his priorities? ben: he has laid out four top priorities as far as rolling back dodd frank regulations. among those are changing the way the leverage ratio is calculated by exempting some categories of assets from the denominator, which would allow some companies to engage in less risky wholesale activity like custody activities or clearing. the fed wants to bring greater transparency to its stress testing process. there is a rule in progres

bitcoin is still your best bet first we start off with the fed's moment of truth, jerome powell getting ready to spread his wings in his first news conference as fed chair which he is i had withly expected to hike interest rates and wall street will be hanging on his every word as the ten year yield -- can the markets withstand the attack of a hawkish fed? >> i don't believe they can. i thought the fed was going to derail the rally for the last five or six years. and frankly they have threaded the needle for that period of time brian was here a few weeks ago he said the markets like to test new fed chairs i'm in accord with that. i think they are going to raise rates four times this year and my sense is it's going to create more violent vo tilt i think it's market negative >> do we see more volatility already in anticipation of the four rate hikes? >> we z. agree with what guy is saying inthe question is how much has this fed been priced into the market and are people aligned with a fed that's going to move three or four times this year. 127 on september last summer to being at 233, in

jerome powell's first news my name's scott strenfel and i'm a meteorologist at pg&e. we make sure that our crews as well as our customers are prepared to how weather may impact their energy. so every single day we're monitoring the weather, and when storm events arise our forecast get crews out ahead of the storm to minimize any outages. during storm season we want our customers to be ready and stay safe. learn how you can be prepared at pge.com/beprepared. together, we're building a better california. you or joints. something for your heart... but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember. >>> we are back. 90 seconds to go pete, you are up first for final trades. >> i'll give you a wynn. and on that -- on the huge move to the down side i thought it created opportunity and i own the stock and selling calls against it -- i think the calls i'm seeing bought at the 185 strike in may tell me the stock is going h

did jerome powell signal the allclear for stocks? >> i don't think he zchl i think powell basically told you read my lips, this is one decision, one meeting, we did one thing today and by the way i can do whatever i want at the next meeting. i thought it was a hawk in disguise having said that obviously there was a relief of the stock market that now actually can probably breathe some sigh of relief until a couple of week until we get the next round of inflation or wage data on payroll. >> where did you get i can do whatever i want at the next meeting or whatnot >> he was asked two or three times about issues he said folks we made one decision today reraised rates 25 basis points what i heard means they could be at four hikes at the next one. why did he bring that up now ultimately there was nothing for this fed chairman to gain in his proper announcement policy meeting to go into that heap >> i think he managed it well. the market's reaction proves that the next in line is technology technology stocks led the rally, they are the mos

we are waiting to see what jerome powell has to say. just to clarify some points, it will be interesting to see if this is the same from jerome powell. here is juliette saly. u.s. president donald trump is set to announce tariffs on steel and aluminum imports. he told a team wants to announce tariffs of what he 5% on steel and 10% on aluminum from all countries. it would be one of trump's toughest actions yet. to implement a hawkish trade agenda that risks antagonizing friends and foes alike. more than 30 aides have been stripped of access to top secret intelligence. according to two people familiar, the officials have been notified of they will be downgraded to lower level secret security clearances. director hope hicks is stepping down. her departure came a day after she testified before a house intelligence panel telling them her job required her to tell " white lies." the u.k. prime ministers set to tusk in london later. it came's a day after theresa may vowed she would never accept a draft brexit agreement that was published by the

and what it showed was janet yellen being very, verypp tive of qe3 while jerome powell was much more concerned about the bloating of the fed's balanceheet a really reluctantly agreed to embark on qe3. what we see is very significant differences already, and marke didn't necessarily expect that. that's why i think it's no surprise that we saw all this volatility this month just as the baton was being passed from janet yellen to jerome powell. >> when you used the word rlier, the normalization of monetary policy, i take that as code or economist-speak for rising interest rates as the economy regains its footing and its health. but that doesn't mean that you can't continu to make money in stocks, does it? >> no, absolutely not. and in fact let me qualify by saying, normalization in this case isn't just about rate hikes. >> right. >> it's about taking down t balance sheet. and that actually was the great experiment we've been in for past decade. but having said all that, while we expect to see more volatility, volatility creates opportunity. so wexpouldt to see an upward bias to stocks t

javier: jens, let's focus on jerome powell. we know this was his first such press conference as fed chair. we know that first impressions count. so what was that first impression? jens: jay powell, as they call them, is a trade lawyer, which is also not unusual here on wall street. he obviously prefers very clear and open language and was open as he followed ben bernanke, and also fed chairwoman janet yellen. if we think back to the old days of alan greenspan, the fed policy was pretty wild. a guessing game. people on wall street tried to figure out how the size of his briefcase, how fed policy would change. jay powell also hinted he might be in favor of even more press conferences in the future because only about every second fed meeting we have conferences. so we might have the federal reserve being even more open and even to read which could be a good sign, but we cannot forget what would happen with fed rates in the future depends on the u.s. economy, and nobody really knows what is going to happen in the near future. so it

fed chair jerome powell was back on capitol hill, testifying on the economy, just days after suggesting that a strengthening o morey could lead interest rate increases than expected this year if but today, his comments appeared much more measured.es steve n has the details. >> reporter: on the second h da testimony, fed chairman jerome powell struck a more dovishtone. while he warned on day one that the economyheould ov, on day said, there's actually no evidence that it's overheating. and whit the mar worries about wage inflation, powell seems less concerned, at least for now. >> we seey wages a couple of measures trending up a little bit, but most of them continuing to grow at about 2.5%. so, nothin that suggests to me that wage inflation is at a point of acceleration. and so, i would expect that some continued strengthening in the bor market can take place without causing inflation. >> reporter: powell stuck to his generally upbeat view on the economy and the tax cuts. he suggested they will help spur economic growth and capitalen ng along with productivity and maybe even wage growth.

we are finding stability here as the fed kicks off its two day fomc meeting, the first for jerome powell. we have the dow, s&p and nasdaq higher our road map starts with facebook fallout after the latest day a misuse scandal. new calls for lawmakers for social media ceos to testify and reports the ftc will investigate facebook's use of personal data. we have the details. >> stocks moving higher. the dow gaining close to 100 points a full market rundown is straight ahead. >> and rolling back dodd/frank banking regulations. house financial services chairman jeb hensarling joins us live this hour. >>. >>> stocks rebounded yesterday with the dow up triple digits as investors await a rate hike from jerome powell's first fomc meeting. for more, let's bring in david zerv zervos, barry banister barry, i'll kick it off with you. what was behind yesterday's selloff and what changed today >> a lot of yesterday started with facebook which has been a market darling with the faang trade for years but part of it is trepidation regarding the fed's upcoming meeting and what will powell do in terms of sig

of course you will get that first press conference by jerome powell as new fed chair. that is tomorrow. today we're looking at shares of facebook, still getting beaten up, all these reports that the data firm cambridge analytica may have improperly gained access to data on 50 million facebook users. federal trade commission launching a probe on the whole thing. joining me for analysis, bolt bowl, she has been following the story -- deirdre bolton and jason rotman. good to have you both here. deirdre, catch us up on the latest. we have a lot of political leaders coming out saying facebook, not so fast. >> not so fast. facebook essentially at this point is waiting for a letter from the ftc and this is the primary agency that sticks up for our privacy. according to our sources facebook has not received this letter but they're waiting for it. they know that it is coming. my sources telling me that facebook is going to face a probe by ftc. the big question is, did they or did they not violate a 2011 privacy consent? which basically means they're not supposed to just go in,

the temple of money where in just one hour the new chairman jerome powell will make his first big decision on interest rates and hold the first news conference as fed chair too. >> and you are looking live at the financial capital of the world where investors are awaiting for that decision the statement and the forecast for the rest of the year >> welcome to this special edition of "power lunch" from a snowy stock exchange and i'm michelle caruso-cabrera with melissa lee and tyler. just under an hour until the race decision dropsful right now we're rallying into the close this hour. but it could get more volatile depending on what the fed does remember, on any given fed day, there is the market before the decision and after the decision. the industrials are higher been 139 points almost 140 the s&p 500 higher been 13 points an the nasdaq higher by 29 points or .4% highest level since september of 2008 which we look at bond yields, highest since april of 2010 there you go that is where you could see them and now moving on to crude, hitting the highest level in a long time. rallying up 6% in

jerome powell didn't like tariffs. number of investors talked to today because they don't like the idea of tariffs. this is what he campaigned on. he wanted a fair, free trade. not the free trade, but fair trade. what chinas done is not fair. they are dumping too much steel and aluminum in the u.s. and making it hard for american companies to pay their workers themselves. going from russia and national security. russian president vladmir putin taunting the united states about his country's stash of nuclear weapons. at his state of the nation address, putin announced that russia has develop ad range of nuclear. weapons that can not be intercepted. one u.s. official tells fox news, while the united states doesn't defend it does deter and any attack by russia or anyone else would be met with overwhelmingly response. going to my next guest, for reaction we have former cia officer buck sexton joining me now. buck, this kind of came out of nowhere? >> there is a context to it. that is that russia is still trying to deal inte

the last time jerome powell spoke, his concern of an overheated economy. that doesn't concern me when you're growing 2% for 10 years i could use a little heat in the economy. what? >> interestingly, david, doesn't see much indication of inflation looking forward. not much more than 2% in terms of where the fed sees inflation going. so you have mixed signals once again. perhaps the fed intended that way. what i'm seeing demonstrable signs of inflation. there is no such thing as a free lunch. we had almost a decade of artificially low interest rates, david. whether higher commodity prices or take a look at 52 low list. full of bond funds, bond etfs. perhaps the market suggestions that the fed will not be done actually when it says it will be done. just as it was not done cuttings on the way down and go the other way up. david: talking for years about our problems with these artificial rates. it was kind of the obama way to stimulate the market because he wasn't stimulating by raising taxes and regulations. right? >> that's true. david: hold on. this is for t

people are digesting what jerome powell has to say and the u.s. yield curve will change under his watch. people are getting used to the idea we might have four rate hikes this year compared to three last year. it has to do with u.s. monetary policy. it is not helping. the mood was not that good and you throw in the potential for a trade war. overall, a murky picture. one thing investors do not like is, the chance we have a policy mistake. policy mistakes are punished by financial markets. that is one thing investors mind right now. has a something gone wrong? the european union says these tariffs are not a good idea and that they might retaliate. it is looking pretty nasty. people want to take their money off the table and come back when the dust has settled. it is unsettling. doesn't exclude the u.s. from china's fast-growing consumer market? if china wants to retaliate, they have many different ways they can do so. you look at the huge and growing size of the consumer market in china, which is so big -- american companies like apple already enjo

jerome powell said this is one of the main risks that they weren't quite paying attention to act the fed until recently. now they have increased their attention to what it might do. many members of the open market committee of the fed were hearing from business community leaders saying they were worried about the prospect of a trade war, and the fed is paying attention to the trade policies coming from the white house but it is not a cause for concern yet. what is the worry for business leaders speaking to the fed about tariffs? it's tit-for-tat, retaliation. if the us was to have significant tariffs on imported chinese electronics, then china would retaliate in kind, which could hurt many american industries that are significant on the chinese economy for a significant portion of their business. how did the new fed chairman do at their press conference question mark for once you are succinct and to the point. he said the fed does not do trade policy. five words in a sentence, you almost never get that from a fed chair. he earns marks for being clear that we will see how he does with

fed chair jerome powell testifies before the senate banking committee, and the senate debates gun policy. transportation secretary elaine chao discussed the trump administration's infrastructure plan at a senate hearing. that plan includes support for infrastructure in rural communities, a streamlined permitting process and deregulation. we'll also hear about water infrastructure from the assistant army secretary for civil works. this hearing of the senate environment and public works committee is two hours. >> good morning. today we'll discuss the need merchandize our nation's infrastructure, and president trump's plan for rebuilding infrastructure in america. this committee has historically taken the bipartisan lead on infrastructure issues in the senate. i'm very pleased that secretary chao and assistant secretary james have come to our committee first to discuss the infrastructure principled shared by president trump on february 12th. our infrastructure drives the health, well-being economy and prosperity of the nation. we depend upon it to

remember what jay powell, jerome powell said when he testified on capitol hill during the humphrey-hawkins hearings, wages are expected to go up but he didn't think increase in wages would add any pressure. inflation holding at 1.9% this year. if you look at long-term expectations from the summary of economic expectations they're looking long term, gdp going up there year to slow down a bit. in 2020, gdp is not nearly as strong as they're predicting right now. that is not so hopeful looking forward. lauren: mark, let me bring you in here. not so hopeful looking forward. we're heading into the midterm elections. we await jay powell and first news conference as head of the fed 25 minutes from now, what do you think he can say to maybe appease investors out there? >> first of all we know from his previous testimony that he can be a little bit more blunt speaking than certainly previous fed chairpersons. as a consequence i think it will be very relegalling as to what he says. he will talk along the lines what the economic forecasts project. to say solid fundamental growth. will warrant the fed

is expected to continue the latest meeting of fed governors is the first under new chairman jerome powell and it was nominated by trump last year fed members projected they would raise rates twice more this year in an effort to control inflation. africa offers a potentially gigantic market of up to one point two billion people many of them desperately poor it's hoped a new free trade agreement signed this week will tackle poverty there. their promise of free trade and free movement is prosperity for africans because we are proud of the production of. goods and services that. enough. by boosting enter african trade the forty four participating countries hope to reduce their dependence on raw materials exports right now africa's countries only do about sixteen percent of their total trade with each other the new agreement is expected to come into effect in one hundred eighty days time though it first has to be ratified by each country's parliament. we need. to some. that acquired political weed. for. free. to finally become reality but to really boost trade african countries will first have

it is jerome powell's first policy meeting. what will the markets learn from the language we are going to get? tariffs andts on the risks of a global trade war. are a risk.iffs what it means for u.s. and china, it is much bigger. once we start putting tariffs in place, the risk of responding and retaliation is very real. what the world does not need is a trade war. manus: -- guy: jack lew speaking to bloomberg lives today. matt miller will be talking to the bmw ceo. --he worried about the matt: i will ask him quite a few questions on that issue and the electric car range. we are a half hour away from the european open. take a look at where futures are indicating. the picture has been mixed. we see ftse futures down .2%. dax futures up .2%. the rest of the markets are pretty much flat. if you take a look at treasuries, we see investors selling off fixed income instruments earlier. we see the u.s. treasury yield at 2.89%. the yield is coming down. dropping down a little bit after a letter open in london. -- after a later open in

investors digesting testimony by jerome powell. he says he doesn't see evidence of the economy overheating. more evidence that the economic tailwinds highlighted this week are gathering strength. we have u.s. markets closing in two hours. the s&p and dow already on a two-day losing streak. we are at the lows of the session as we speak. this does appear to have to do with what's going on in washington. the president announcing these

interest rates that's after the united states a new federal reserve chair jerome powell suggested hikes could come faster than anticipated higher rates would make debt more expensive for businesses and that could leave consumers with less money for spending and all that would hit corporate profits the news on thursday pushed the dax down by more than three hundred points but the final blow came at the end of the week on friday trumps trade tariffs pushed the index under the twelve thousand mark for the first time in six months the proposed measures would be a big blow for european steel makers yet investors across sectors worry the risk to germany's top firms of a trade war is increasing the dax lists corporations highly exposed to the global economy a trade war would be the nightmare scenario for those betting their money on some of europe's biggest companies. the weinstein company owned by the infamous harvey weinstein will be sold after all it wanted to file for bankruptcy after a takeover failed now a group of defendants are national investors led by my thread a sweet a former obama

interest rates that's after the united states a new federal reserve chair jerome powell suggested hikes could come faster than anticipated higher rates would make debt more expensive for businesses and that could leave consumers with less money for spending and all that would hit corporate profits the news on thursday pushed the dax down by more than three hundred points for the final blow came at the end of the week on friday trumps trade tariffs pushed the index under the twelve thousand mark for the first time in six months the proposed measures would be a bitter blow fleet european steel makers yet investors across sectors worried the risk to germany's top firms of a trade war is increasing the dax lists corporations highly exposed to the global economy a trade war would be the nightmare scenario for those betting their money on some of europe's biggest companies. the weinstein company owned by the infamous harvey weinstein will be sold after all it wanted to file for bankruptcy after a takeover failed now a group of different financial investors led by money echoing thread a suite

interest rates that's after the united states a new federal reserve chair jerome powell suggested hikes could come faster than anticipated higher rates would make debt more expensive for businesses and that could leave consumers with less money for spending and all that would hit corporate profits the news on thursday pushed the dax down by more than three hundred points but the final blow came at the end of the week on friday trumps trade tariffs pushed the index under the twelve thousand mark for the first time in six months the proposed measures would be a bitter blow for european steel makers yet investors across sectors worried the risk to germany's top firms of a trade war is increasing the danks lists corporations highly exposed to the global economy a trade war would be the nightmare scenario for those betting their money on some of europe's biggest companies. the weinstein company owned by the infamous harvey weinstein will be sold after all it wanted to file for bankruptcy after a takeover failed now a group of different financial investors led by money echo and trade a suite

powell who was nominated by trump last year fed members projected they would raise rates twice more this year in an effort to control inflation. africa offers a potentially gigantic market of up to one point two billion people many of them desperately poor it's hoped a new free trade agreement signed this week will tackle poverty there their promise of free trade and free movement is prosperity for africans because we are proud of the production of goods and services that. enough. by boosting intra trade the forty four participating countries hope to reduce their dependence on raw materials exports right now africa's countries only do about sixteen percent of their total trade with each other the new agreement is expected to come into effect in one hundred eighty days time though it first has to be ratified by each country's parliament. we need. to some. that acquired political we. are. free. to finally become. but to really boost trade african countries will first have to invest in their infrastructure things like roads which connect the countries with each other so their products

the latest meeting of fed governors is the first under new chairman jerome powell who was nominated by trump last year. members projected they would raise rates twice more this year in an effort to control inflation. africa offers a potentially gigantic market of up to one point two billion people many of them desperately poor it's hoped a new free trade agreement signed this week will tackle poverty there their promise of free trade and free movement is prosperity for africa because we are proud of the production of goods and services that. enough. by boosting entrapment in trade the forty four participating countries hope to reduce their dependence on raw materials exports right now africa's countries only do about sixteen percent of their total trade with each other the new agreement is expected to come into effect in one hundred eighty days time though it first has to be ratified by each country's parliament. we need. to some. free. become. but to really boost trade african countries will first have to invest in their infrastructure things like roads which connect the countries wit

jerome powell will have a chance he goes in front of the senate. that takes place on thursday. .e're still joined by sam is a roughly bottom-up portfolio is theret -- manager, a type of language that comes from the fed. is a trajectory there that makes you sit up and take notice? sam: when we first had that correction at the beginning of february, it was all on the back of u.s. strong wage growth. that when youct have good economic data coming through, that is good for markets. obviously, the rate of the rise has been baked in. it looks like three and 84 hikes are considered this year. you get the paradigm where rates might rise faster than expected. at, and i amking bottom-up and i do look at the stoxx from a microscope, there is a big sentiment there and a thin line. if you take a temperature gauge in terms of what people's quotations are in reference that against the equity markets, that is where the volatility will come from. if you have good economic conditions, and rates have been low and easy money has happened for such a long period of time

powell and it was nominated by trump last year. the fed members projected they would raise rates twice more this year in an effort to control inflation. africa offers a potentially gigantic market of up to one point two billion people many of them desperately poor it's hoped a new free trade agreement signed this week will tackle poverty there. their promise of free trade and free movement is prosperity for africans because we are proud of terrorising the production of the value added woods and science is that. med enough. by boosting entrapment and trade the forty four participating countries hope to reduce their dependence on raw materials exports right now africa's countries only do about sixteen percent of their total trade with each other the new agreement is expected to come into effect in one hundred eighty days time though it first has to be ratified by each country's parliament. we need to someone that acquired political weed. for. free. because. the really african countries will first have to invest in their infrastructur

is expected to continue the latest meeting of fed governors is the first under new chairman jerome powell who was nominated by trump last year. fed members projected they would raise rates twice more this year in an effort to control inflation. africa offers a potentially gigantic market of up to one point two billion people many of them desperately poor it's hoped a new free trade agreement signed this week will tackle poverty there. their promise of free trade and free movement is prosperity for africans because we are proud of the production of goods and services that. enough. by boosting intra trade the forty four participating countries hope to reduce their dependence on raw materials exports right now africa's countries only do about sixteen percent of their total trade with each other the new agreement is expected to come into effect in one hundred eighty days time though it first has to be ratified by each country's parliament. we need. to some. that required political and we. are. free. to finally become. but to really boost trade african countries will first have to invest in th

interest rates that's after the united states a new federal reserve chair jerome powell suggested hikes could come faster than anticipated higher rates would make debt more expensive for businesses and that could leave consumers with less money for spending and all that would hit corporate profits the news on thursday pushed the dax down by more than three hundred points for the final blow came at the end of the week on friday trumps trade tariffs pushed the index under the twelve thousand mark for the first time in six months the proposed measures would be a bitter blow for european steel makers yet investors across sectors worry the risk to germany's top firms of a trade war is increasing the dax lists corporations highly exposed to the global economy a trade war would be the nightmare scenario for those betting their money on some of europe's biggest companies. the weinstein company owned by the infamous harvey weinstein will be sold after all it wanted to file for bankruptcy after a takeover failed now a group of different financial investors led by my thread a suite a former obama

is expected to continue the latest meeting of fed governors is the first of the new chairman jerome powell was nominated by trump last year fed members projected they would raise rates twice more this year in an effort to control inflation. africa offers a potentially gigantic market of up to one point two billion people many of them desperately poor it's hoped a new free trade agreement signed this week will tackle poverty there their promise of free trade and free movement is prosperity for africans because we are proud of the production of. goods and services that. enough. by boosting enter african trade the forty four participating countries hope to reduce their dependence on raw materials exports right now africa's countries only do about sixteen percent of their total trade with each other the new agreement is expected to come into effect in one hundred eighty days time though it first has to be ratified by each country's parliament. we need. to some. for. free. because. but to really boost trade african countries will first have to invest in their infrastructure things like roads wh

he gave an excellent fed meeting, jerome powell. he delivered a balance message, so it is strange to blame it on that. trade was a development affecting people. we have other issues, u.s. politics, h.r. mcmaster gone that is being overshadowed by the trade turmoil. there are other things now, political tensions and we have this heightened volatility. we have the higher rates. i don't think fed was relevant this week, but maybe i am biased because i didn't think it would be in the first place. matt: mark, we appreciate your input. mark cudmore, numbered mliv strategist. you can follow, and i recommend you do follow, mark and the rest of his team on the mliv blog. mliv on your bloomberg. next, a big day for ipo's. maybe not a great day for ipo's, but the biggest -- dropbox priced overnight. deutsche bank's asset management business is minutes from its trading debut. we will bring you both of those stories on this exciting and possibly very bloody day for the markets. this is bloomberg. ♪ ♪ guy:guy: 47 minutes past the hour, 747 th

powell he's expected to stay away from the topic of an impending trade war due to lack of definitive information so there you go meanwhile generic key economic sentiment indicating here in germany is looking rather glum isn't it. yes indeed the w. index that of course is based on interviews with investment analysts and that's been forecasting a more pessimistic outlook for the in coming months and that is down to the impending down to an impending trade war and the uncertainty surrounding that now we know that markets hate uncertainty they don't know whether the negotiators will be able to get through to trial at a time where he surrounded himself with really protectionist figures like a commerce secretary will ross or like peter navarro who of course is one of the architects of the america first policy they were briefly encouraged when a larry kudlow a free trader came onto the scene but since then he's also said that he's fired with tower of so none of these things are particularly confidence inspiring and thus the slump in sentiment. off a national correspondent in frankfurt. shou

haidi: jerome powell indicates another two hikes this year and more to come in the future. betty: you must is giving 2.5 billion reasons to stay in the driving seat at tesla and not go to mars. haidi: hello from sydney where we are just passed 9:00 a.m.. open the day after the fed. betty: we finally got the decision and is just after 6:00 in new york and we are looking at all the action on wall street and how it plays in the asia-pacific day. one story we are following in the market is the fed. its get straight to the top story. the federal reserve is raising rates hikes for 2019 and 2020 and not this year. kathleen hays is here with details of today's fed chair meeting. kathleen: this is a interesting meeting to parse because the fed did race its rate hike path which is caucus, but they didn't raise anything for 2018 even though they see faster growth and inflation growing. dot. hop onto the edre is what the dot look like. the three dots moved up, and here is what the three was, you have a consensus for four rate hikes. there was a lot more people under three, but now it i

powell does not love what the president has announced either during his testimony before the senate banking committee, the second day of testimony in a row north dakota senator heidi hide camp probed him about the impact of economic growth. i will say about trade that i think the record is clear that over long periods of time for many many countries, it's a net positive. the tariff approach is not the best approach. the best approach is to deal directly with the people affected rather than falling back on tariffs. liz: folks it sounds like he's singing a different tune compared to what the administration is pushing for, or i should stress at least what some of the administration is pushing for this all matters because when jerome powell speaks markets listen and wall street crumbleses so we want to bring in phil, i want to throw this to you first. you've watched all kinds of trade issues when it comes to oil imports and oil exports. let's transfer your knowledge of that to what we're seeing now with the announced import tariff s that the president says he's going to push through nex

come up tomorrow, fed chair jerome powell's first rate decision, a news conference. of course, that's at 1:00 p.m. in new york, 5:00 p.m. in london. this is bloomberg. ♪ taylor: this is "bloomberg surveillance." i'm taylor riggs. uber has suspended self-driving cars after a fatal accident in arizona. according to police, a woman was crossing the street outside of a cross walk when she was hit by an uber car near phoenix. there was a driver behind the wheel, but the car was in self-driving mode. there's speculation the accident will lead to a push for more regulation. there's a report that saudi arabia scaling back plans for a ublic offering for aramco. the oil giant would be listed next year only on the saudi stock exchange, according to the "wall street journal." they're reportedly taking more time to decide if an international listing is worthwhile. the movie studio weinstein company has filed for bankruptcy. weinstein failed in the wake of sexual harassment claims against co-founder harvey weinstein. the company plans to sell its assets to an affiliate of lanter

jerome powell speaking to the senate. i'm sure this issue will come up if it hasn't already, but the fear is this is the kind of thing that does not make his job easier if we have some trade war that develops and all bets are off. mark lotter, do you fear that happening here? >> i think the president is sending a very strong message since he first announced intention to run for president, that he was going to be on the side of the american worker. while we can have disagreements even among friends such as we're working together with china, south korea and others, there are very serious economic and trade imbalance issues that the president wants addressed. he wants to be serious about that. so you've seen it with the washing machines, solar panels, now with steel and aluminum. he's sending a very strong signal to them, it's time to come to the table to level the playing field, make these trade deals and make the markets work for both sides and we're going to stop putting american companies and american workers in a bind b

jerome powell announced his first interest rate rise, an increase of 0.24% to 1.75% from 1.596. increase of 0.24% to 1.75% from 1.5%. let's increase of 0.24% to 1.75% from 1.5%. let‘s look at the market reaction. wall street shares have ended the day slightly lower after a volatile session. asia has opened today, japan has reopened after a public holiday, we are seeing some rise there. in the currency markets, we‘re seeing the dollar seeing the biggest one—day loss in two months against a basket of currencies. when announcing the hike, the new fed chair sounded very optimistic about the state of the us economy. indeed the economic outlook has strengthened in recent months, several factors are supporting the outlook, fiscal policy has become more stimulative, ongoing job gains are boosting incomes and confidence. foreign growth is on a good trajectory and overall financial conditions remain accommodative. as our business reporter in washington explained, the members don‘t all share the optimism. the thread seemed quite divided about how well the us economy is doing. —— said. e

to the news conference with fed chair jerome powell. the fed chair announcing an interest rate raise of 1/4%. live here on c-span. chair powell: i have a brief statement then i'll respond to your questions. the job market remains strong. the economy continues