Whole story when it comes to exports and american jobs. Lets have a look at where european equities are now. You know the function gmm go. Stocks rising after falling for three consecutive weeks through the largest losing stretch since brexit last year. Sterling rising by 1 5 of 1 . Theresa may striking a deal with the dup. It is time to turn bearish on u. K. Government bonds. Bluebay Asset Management says so. Bluebayy manager of forecast 10 year yields will hide to the highest level in about 18 months amid Rising Inflationary pressures. He also says the u. K. Must wrap and instead go to fiscal easing. The forecast is 2 . Down to 1 today. Sincee not been at 2 december of 2015. German Business Confidence surging to a record high among signs the outlook for europes biggest economy is improving. Ifa Business Confidence ifo Business Confidence index. The economy rising at the fastest pace in five years. We have had a report of underlying expectations for a continued robust performance. Lets get to the greek bond market. They reached a symbolic threshold. Yields on the government 10 year bond have dropped to the lowest level since 2009. The level at which the country last tapped the debt market three years ago. The cleat question mark constructing confronting investors is whether the nations that would be sustainable, which would make the bond eligible for the ecb Asset Management program. June of last year, we were about 13 . It is below 6 now. How does it look over there, julie . Julie all three major averages have turned down from their highs this session. The s p and the dow little changed. The nasdaq now negative. Whether it is directly linked to or not is not clear, but the downturn coincided with the headlines coming out of the Supreme Court that it was going to review the administrations travel ban and it was reviving some aspects of it. Connection is a direct connection is unclear, that climbing at least coincided. Another story we are watching is the deal we have been talking about. Waymo, the self driving unit of abet, you have seen avis budget up 10 . Tesla down by about 2 . We should also mention that exhabet recently hired an engineer at tesla. Looking out store capital, the Real Estate Investment trust. Berkshire hathaway taking a 9. 8 stake in that. As result of that, ripple effect. Look at the bloomberg here. An unusual trade in gold this morning. The past several days of trading and goal here. There was an enormous spike in gold, after which we saw a steep drop in gold. It looks like there was a fat finger, according to traders in new york, because there was a spike in volume he and trades in volume. Gold is now a little lower on the day, even though it is higher over the past several days. Vonnie thank you. Breaking news now on health care. The senate gop is said to have to be releasing a revised Health Care Bill this morning. This would include continuous coverage provision, because it was among the issues gop leadership had been wrestling with in trying to find a compromise. Loseop can only afford to twoenate votes here senate votes here. To release ap said revised Health Care Bill which would include continuous coverage provisions which would replace the mandate, allowing 30 charge charge a are people who did not sign up for insurance last year. Mark speaking after an emergency cabinet meeting, italys finance minister defended the intervention. Is there a better alternative than this decree from the point of view from supporting families, the two banks, the stability of the Financial System . I wish the people who criticize me would tell me what a better alternative could be, because frankly, i do not see it. Mark we will be speaking to him in roughly 15 minutes. Bloombergs Elisa Martinuzzi covers european finance. There is so much to talk about. Lets talk about the san paolo side. If you are a shareholder, are you looking your lips . Licking your lips . Elisa well, they are. You are getting to deal with the fallout from the job cuts that will result from the consolidation of the existing franchises. It is good news for the shareholder. Vonnie and for bondholders, because that is who invests in the bond market in italy and in , where you sees institutional bond buying. What kind of precedence does precedent does this set . Elisa the concern it has raised today among investors and analysts is you are creating a precedent of getting around the rules. Ist is being applied here somewhat skirting the rules. So it created uncertainty as to how investors can price the risks of various banking securities, in light of the fact you are not quite sure who will be bailed in and under what terms. Mark is the italian Banking Industry a much safer place today . Npls and zombie banks, are they being put to bed . Elisa an argument is this basically does draw a line under the sand. This is the end of weaker banks needing capital and from here onwards, you have created Financial Stability in the sector, which italy needs. Mark good to see you. Europeantinuzzi covers finance and investing for us. We will get more insight. We will talk exclusively to Pier Carlo Padoan, the finance minister of italy at 11 15 new york time. Vonnie time to check in on the first word news. Here is emma chandra. Emma the Supreme Court has given trump a partial victory on his controversial travel ban. The high court will allow a limited version of the band to go into effect until it hears arguments on the case in the fall. Justices clarence thomas, samuel alito, and neil gorsuch said they would have let the entire ban take effect immediately. Prime minister modi it will visit with trump today. A few people expect few people expect breakthroughs on issues like immigration. British Prime Minister theresa may is trying to use anxiety over how e. U. Citizens living in the u. K. Will be treated after brexit. She spoke earlier to parliament. Under these plans, no e. U. Citizen currently in the u. K. Lawfully will be asked to leave at the point the u. K. Leaves the e. U. We want you to stay. In the u. K. Izen with five years continuous residence will be granted settled stasis status. Emma meanwhile, the dup will support mays conservatives in return for Action Funding and northern ireland. Martin shkreli goes on trial today for securities fraud. Usingutors accuse him of 11 billion in stock to pay off investors. He has pleaded not guilty. Startingter known for Turing Pharmaceuticals and raising the price of an hiv drug 5000 . Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. I am emma chandra. This is bloomberg. Mark coming up on the european close, an interview with bmw chief executive harald krueger. Hear what he told bloomberg to bringmps plans jobs to america. Plus, an exquisite interview with italys finance minister, Pier Carlo Padoan. This is bloomberg. Live from bloomberg World Headquarters in new york, i am vonnie quinn. Mark i am mark barton. The european close in roughly 17 minutes. We already heard from the Bankers International settlement, which said major Central Banks should press ahead with rate increases. John williams made a similar case in sydney earlier. The goal here is to gradually ease off of stimulus to the economy, keep it growing, but do not let it go too far. Ratesg normal interest helps to keep that boat from going too fast into the dock. Mark mario draghi will speak at the annual ecb forum in portugal tomorrow. Fed chair janet yellen will give a speech in london. Joining us now is Bloomberg Markets live reporter Richard Jones. So much to talk about. Who is number one on the list this week . Connie tomorrow carney tomorrow . Everything the Central Bank Says will be very important, but we have some important data coming out of the euro area in terms of core inflation. Is the thing investors will be waiting for, notwithstanding all of the important things central bankers will say. Ofk so John Williams view moving towards the 2 goal or not . Richard i would say investors still need to be convinced. Beenpc in the u. S. Has not at or above 2 in over five years. If core pc has been that low for so long, it has to overshoot for the fed to be at its target over time. It does not like it is getting there. Investors do not have a lot more tightening price into the curve between now and the end of next year. I would say there is skepticism there. The same thing in europe. Euro area core inflation is barely above 1 . That is not near where the ecb is targeting. As much as Central Banks would like to normalize rates and get the get on with the process, there is really no durable upside yet. Vonnie the would you summarizet the bank for International Settlements is telling us right now . Richard the banks for International Settlements is key in for Central Banks to return to some type of normalization. It is difficult for Central Banks to achieve that globally, because, in the case of the ecb, theyre one mandate is inflation. One mandate is inflation. It is not picking up. I think the fact that wages are not taking up as quickly as picking up as quickly as they should be is a conundrum for all Central Banks. The Swiss National bank, the ecb, the bank of england, the fed. What the bis would like them to achieve is becoming more difficult. Vonnie it feels like a pause time in Economic Data until the tea leaves say what they will. Do traders take the summer off . Richard i am not sure they take the summer off, but we are probably in for some range bound markets over the next few months. The surprise now will be if the data starts to beat expectations in the u. S. Everything seems to be softer. The survey data and hard data is not coming in as strongly as i think a lot of people thought it would at the beginning of the year. If that continues over the next few months and there is no reason to believe it would not are choppy and volatile we probably will not go anywhere before autumn. Mark carney speaks tomorrow. When i went away for a week, the month twoweek u. K. Interest 15 months. Now at there is an interesting divide forming within the boe, isnt there . Richard i think the 33 months prognosis was a little too dovish. Even if it was not there out right plan, the fact it is now 50 months out, which is still the fact it is now 15 months out is still realistic. What investors are saying is if 15 months will be the first move, it is still not imminent. A lot could happen in 15 months. We have the brexit negotiations. That split in the bank of england, we are not actually at where they are necessarily going to act very quickly. 15 months is still a long time. That is probably a more realistic timeline. Mark richard, good to see you on a monday. Life extra treat on a monday. We now have some breaking news on friday. Get anspiking we will expedition now from julie hyman. Julie right eight riteaids acquisition is pending. Hasblication called ctfn been speculating on ftc approval, but they are citing an attorney not involved in the process. Bloomberg reported on june 9 that the regulators were leaning against approval, so there has been a lot of back and forth. Initially, shares are spiking were spiking. When it became clear that the citation was from an attorney not involved, the shares came back down, but it is still at 65 in walgreens, those shares also spiked in the wake of these headlines. The third point of this triangle, so it is spreads, which as head of this deal is set to buy some pharmacies from aid. Those ashares still up 17 . We will be updating you on any further development on this story. Mark aid. Great stuff. Still ahead, italy announcing its biggest ever bank rescue, committing 19 billion. We will speak to italys finance minister Pier Carlo Padoan. That is an exclusive interview. This is bloomberg. Live from bloomberg World Headquarters in new york, i am vonnie quinn. Mark i am mark barton, with the european close literally seven minutes away. Italys number to lend her rallying after the country announced its biggest bank rescue ever. The deal allowing investors to take over the good assets of two failed banks. Joining us now for an exclusive fine w, italian finance minister Pier Carlo Padoan. Thank you for joining us. One of our missed one of our columnists said that this privatizers gains. Werent banking rules meant to stop this . Min. Padoan i totally disagree. It is not a bailout. Everything was done by the rules. Liquidation of banks declared about to fail by the ecb. Mark wouldnt you say that those who claim this unwind undermines confidence in the Banking Union project . Min. Padoan i do not think so. We negotiated the rules with the european institutions. Statedomposition as yesterday that state aid is legal in this case area there is no disruption in the rules whatsoever. Legal, but spains went spain went down a different routes. How are these two italian lenders different from banco popular. Min. Padoan i think the between santander and have decided to come in and acquire the good assets of the banks subjection subject to liquidation. Thewith the clause that capital ratio of the acquiring bank would be cap unchanged by the operation. While on the other hand, Banco Santander had to raise as much as 7 billion euros to raise capital to leave the ratios unchanged. Mark so you do not accept the accusation that some have leveled today that this unwinds whatever you want to call it leads to a nonlevel Playing Field in europe . Min. Padoan absolutely not. Neutral, so the position of the banking business has not changed from that point of view. Given the fact that this is a liquidation, according to some specific rules, it was deemed to be legal from the point of the state aid rules. It is not changing the Playing Field that we had that assessment. Mark regardless of what you say, there are concerns in germany. Might this hinder further eurozone integration, as some have suggested today . Min. Padoan i totally disagree with that statement as well. We have strengthened euro integration and strengthened the Banking Union and are working to make it even stronger. Mark can you talk to me about the cost . ,t is near 20 billion euros that could ultimately be the cost and what would it have cost you to do this a year ago . Min. Padoan it is not 20 billion euros. The outflow of money from states budget is going to be around 5 billion. Then there is the guarantee that is up to 17 billion. Those initial 5 billion are likely to be recovered by states over time. Mark so you are committing min. Padoan we are not committing. A year ago, it was a totally different world with different situations. A private, there was sector solution, which did not go through. Because we are now in that it changes the picture. We are not committing that there is a guarantee up to 17 billion, so this is a totally different story. Mark so 5 billion youre hoping will get recovered in part. That is what the Prime Minister said today. How confident are you about recovering that 5 billion euros . Min. Padoan we are quite confident for two reasons. First of all, because the amount of assets which are in the bad banks, which are now being managed by the state, is larger than the amount recovered, to be recovered. Number two, we are confident operationse of the today, the move in the market will improve as it is clearly happening today, and this will strengthen the value of npls to be recovered. Mark what happens if you do not recover it . Min. Padoan if we do not recover it, we have already set aside in the budget in the december arrangement money to deal with capital strengthening and critical banks. So this is not putting an additional burden on state finance. Mark finance minister, can you tell me about this plan and how it affects the ability to intervene in monte paschi . Paschidoan the monte story is totally independent. It is a different machine, as you are perfectly aware. We are pursuing precautionary recapitalization under european rules. Monte paschi is a viable bank, which was not the case of the two venetian banks, as the statement to the ecb mentioned. Mark so taxpayers, will they be on the hook or not . Min. Padoan as i said, the amount of Public Resources set this putoan as i said, aside for operation was already accounted in december, so this was not additional state money for taxpayers. Mark can you tell us what you are making on paschi right now . Min. Padoan according to state aid rules and european institutions being required to ensure longterm viability of monte dei paschi, the state will officially enter with capital, so we will begin the phase in fhich we are given amount o time, which i hope will be as short as possible. Will havepaschi enough to be finally on a very sound, longterm viability. The stateis achieved, will simply get out of monte dei paschi, and monte dei paschi will go on the market to raise capital. Finance you envision, minister, any other lenders needing state aid . Now . At it min. Padoan we dont expect other lenders needing state aid, and we are only considering of course, as i said, cases in which this will be in theory let me underline that in theory with new cases. Mark if one of those lenders you are referring to is kerry cariage there in theory with the other lenders you are referring to or not . Min. Padoan this is good news. Mark this is the question Everyone Wants answered, with roughly 300 billion euros. Does this put to bed concerns about nonperforming loans in italy . Min. Padoan well, this certainly is the turning point for the positive outcome of progressive limitation of mpls, which are underway. As you know, mpls are already starting to decline by a few months. This is done through market operations. You are familiar with cases in which significant amount of mprs are charged. Other banks are getting rid of instruments to introduced by the government by , or because we in theated procedures debtorcreditor relationship. Things are moving. Perhaps they could move faster, but they are moving in the right direction. Minister come if i could finish with a not tighten bank question. You will be aware that Prime Minister theresa may outlining plans. Her initial plans were met with a lukewarm response from the eu. She said today that nationals living here will enjoy the same entitlements as british people after brexit. I do not know if you have had an opportunity to listen to Prime Minister may today or had a chance to read what she said earlier in the house of commons. Do you have any response . Opportunity to well, i dont hae a specific response to those specific statements. I hope we can make progress on agreeing on a new regime which can satisfy both sides, the u. K. And the european union, but i do not see it as easy as some sites have depicted. Mark finance minister, finance minister Pier Carlo Padoan part. Vonnie fantastic stuff, straight from the ministers mouth. Lets get a check on u. S. Markets and movers. It looks like s p, there is not much movement. Abigail doolittle is here tell us more. Abigail interestingly, we are looking at mixed trading averages. We had pretty bullish trading earlier. All majors up. 5 . Vonnies 0, to allusion, we have to take a look at the s p 500 imap. Tech downtom, we have about. 6 , helping to explain why the nasdaq, which had been up more than. 5 , is now down about. 4 . Lets look at the biggest movers on the technology sector. It seems to be starting up with bitcoin, down about 11 , the worst day since january. A partner told me earlier that this has to do with Chinese Capital controls. The reason it is dragging on the tech sectors, we have both nvi nddia amd, both create vidia and amd, both create graphics chips. Citi has downgraded shares to a neutral on in tuit. Be a dragurned out to and taxis in. We have alphabet down near session lows, down about 1. 25 . This as we have the news about self driving unit has touck a deal with avis, set manage autonomous driving units. It is having its best day of the year. Tesla, though, mark, not so much. Down 2 . An analyst says this proves tesla is not the only game in town or the best with avis getting that deal, mark. Mark abigail, we are up by. 33 , food and beverage gaining. We default to three weeks for the Third Straight week last week longest losing stretch since june last year. I will come to food and beverage in a minute. We just spoke to the italian finance minister, mr. Padoan, who refuted any accusations that this is not a level Playing Field when it comes to bank ballots within the eurozone. Fascinating comments from him. This is one of the most interesting charts given the paulos shares today. This is the bonds as both the lenders were unwound, we will use his words. What is interesting is both 100 today on the euro after regulators decided to restructure the struggling italian banks under local law rather than eu rules, a decision sparing some senior bondholders who may have suffered losses in a ink rescue under eu regulations in a bank rescue under eu regulations. Moves going back to 2011, 4. 7 intraday move, the biggest since 2000. A hugeloeb amassing stake in nestle. Sale since last year at the slowest pace since at least a decade. The stock price has lagged behind other consumer giants in recent years. He wants a whole host of measures, such as selling a stake in loreal. The settlement meaning over the weekend, the judgment is that while inflation cannot be excluded, it may not be the factor threatening the recovery. The biggest threat, he says, is a financial cycle, but the topline is global weighted annual vpi. You can see what has been happening since march. It is turning downward, still growing, but at a slower pace. The bottom chart is the citi inflation surprise index, which measures price of prizes rather than market expectations. That is turning south. Inflation data still beating expectations by a small margin. Vonnie just what Richard Jones is telling us, mark, exactly. Bmw is asserting its commitment to trade with the United States in an event at its plant in spartanburg, South Carolina today. This comes after the trump and administration took on the oil industry for contributing to the trade deficit, by saying it floods the u. S. With germanmake cars. Bloomberg matt miller saddam with bmw ceo harald krueger. we call the United States our second home, and the products we are manufacturing, assembling in spartanburg are where we see in the world, so that is why we invested another 600 million, 100,000 jobs in the next war years four years. The United States has been a very important, big market for us. Being here in South Carolina in the United States as part of our number one a. Matt you will employ 10,000 people here. ,000 jobs in0 the u. S. , 10 billion cars, more than any other manufacturer emma including fort in gm have you explained this to ford and gm. Have you explained this to trump . Harald i have come a splendid is an assertion that we are the biggest exporter. He is surprised that 70 of our cars go to the world. We also explained the investment in people, the additional jobs we created, the great people, the commitment and passion, and that was well received. But i also made clear we need to trade. Matt do you think he understood those arguments . Even after you met with him at the white house, he went to brussels and told his counterparts the germans are very bad and bmw sells millions of cars here, i want to put a stop to that. Does that worry you . Harald i am not concerned. This does not worried me because of the facts and what we have achieved here together with our partners in South Carolina, that is a great achievement, which is acknowledged as well. And we need the trade for future growth, future business development. But i am sure we will have a Good Relationship with the new administration. Matt you just unveiled the new x3 in a gorgeous blue. These are becoming more and more popular for consumers, the butler, more compact suvs, you are also building a behemoth x7 here in South Carolina. Are you optimistic for the x7s success as well . Harald absolutely. A lot of consumers are asking for a bigger car, and we definitely give them an opportunity to drive a bigger car with a little more space. The u. S. Customers are waiting for the car. I get the same feedback, so i am optimistic on the new x3, which is an even better car with technical features, a lovely design, and im sure the Third Generation be successful. But the new x7 will definitely be a success. Matt i want to ask but the other brand rollsroyce ghost to my very favorite car of all time, but you also make the minis, which are super fun. I drive them all the time for your drive program. Do you think you can keep all of that manufacturing, production in the u. K. In it postbrexit world . Harald we will see what happens. There is a trade agreement definitely between the eu and u. K. There is pragmatism on both sides come otherwise both sides would lose. We are committed to our footing and u. K. As well. When he to look at what comes, what development we will see, but im hoping there is a pragmatic solution. Matt you got, i think, over 8000 workers in the u. K. What if we get no deal . What if there is just a fall back on wto rules . How bad is that . Harald i am not believing we will get no deal because that will be a loser for both sides. In the u. K. E jobs as well, but we need to see what happens. Matt let me ask finally about diesel because i have always had a great love of easel engines. Diesel engines. I wanted a triple turbocharged, big diesel power, but it has not been very popular since the volkswagen scandal. Do you think people are going to keep buying as many diesels as you are selling . Harald on a worldwide basis, there is a high portion of diesels. One of the other customers might change, and they can buy, for example, a trucking hybrid in diesel. We have other opportunities as well. In the currency, we only see a small retreat or really know retreat no retreat in diesel. Matt or you could sell a lot more electric cars. You are a pioneer. The i3. Have both. Will we are pursuing the electric product like the i3, likely 5 series, and on the other side, also to keep the High Percentage of diesel cars. Bloombergs matt miller with the bmw chief executive harald kluber harald krueger. Vonnie spilling over into the pharmaceutical industry. We hear from Johnson Johnsons ceo alex gorsky next. This is bloomberg. The healthcare debate on capitol hill to be taking another turn. To the Majority Leader Mitch Mcconnell could unveil a revised Senate RepublicanHealth Care Proposal in his efforts to play sides with senator sue currently oppose the bill. Johnson ceo alex gorsky spoke to bloomberg earlier about the feasibility of the promises in both the house and the senate bills to replace obamacare. Alex were just entering the phase when it comes to demographics for people 65 and older. Even if you hold some of the pricing, the sheer increase on demand from a populist going age 65, to 25 over when youre over 65, you consume healthive to seven times care than you did before, so you are right how do we get the right balance and make sure we are effective, efficient . It is. 5 of our economy. At the same time, how do we continue to reward innovation, make sure that we do not compromise quality of care for so many of these patients we are depending on . What happens of those people cannot afford insurance or they get kicked out of medicaid, or medicare becomes a little less generous . Than that does affect you, right . . Alex absolutely. It is our hope that by working across a number of the different parameters theyre working on now, what about the subsidies, tax audits, the difference qualifications, how do you provide perhaps a little more flexibility at the state level . When you are talking about, you know, the amount of dollars that thate, 20 , then we know there are areas that we can do a better job, and it is going to be critical to focus on those areas. Areas taxother reform, and if you repatriate all the money you have overseas, a, would if you got a cut you, . That . Re would you do tax of form is critical for us. Get rid of some of the anomalies that are causing things, other things in the Way Companies are thinking about, where they are based. O be for us to be more competitive on a global base, it is essential, and we are working very hard with them. Allocation strategy is really what our strategy is. Tax schemes can change over a period of time, but if you look ,t j and j, a fiveyear period we look at dividends because we know our investors are dependent on us for that, investing and business in the right way, which we do, for example, 9 billion in research and development, and then we make sure after that that we are always on the look for new technologies. About 50 of our innovation, we source externally. And i look at other things like what about buybacks, and of course when we do those acquisitions, we try to make sure were doing them in an appropriate and tax efficient way as well. David alex, you say caps on form is google. Say tax reform is critical. If a tax rate comes down to 28, does that change Johnson Johnson at all . Lex the more important issue is the ability it gives you to capital deployment. You want to make sure companies are making investments based on the inherent value of investment, not only particular tax. So things such as inversions, a letter that is taking place because companies in many times of being rational based on the tax rate that they can be, so for another example for us would be how competitive you are on a particular acquisition. If a Company Coming out of europe can pay a much lower tax rate versus us, it may preclude us from being able to acquire Great Technology for the future. David Johnson Johnson was put disadvantage,ial terms of acquiring . Have been fortunate during we have not seen it be a very significant issue today, but it does concern, as you see widen, notese gaps only do we have a more competitive rate, wawrinka we have more flexibility, more mobility where frankly we have more flexibly, more mobility. Mark and that was Johnson Johnsons alex gorsky speaking on bloomberg daybreak earlier. U. K. Against the reflation trade. That is next. This is bloomberg. Vonnie it is some know for our global battle of the charts. We take a look at what they mean for investors. The charts always by running the feature. At the bottom of your screen kicking things off here in new york is joe weisenthal. Thanks, vonnie. I am are to into the eternal question of what markets are saying in regards to reflation paired the white line is the ratio of copper to gold, which is useful because copper is an industrial metal, gold is a safe haven metal. Windows up, it is more bullish, mores the industrial zika molester zika melissa the safeties lately, they have been diverging a little bit. The white line is higher, people are by and copper relative to gold. But rates are lower. Wille two splits, and we see how or if they come back together. Btwan see that chart at g 430 eight go. Vonnie that is fantastic, joe. Mark, it is your turn. Governor week for boe mark carney. Tomorrow, the bank of England Financial Policy Committee semiannual review is released. It is fascinating because we have, and long way in the year, a year on most to the brexit referendum, and the bank had almost unlimited. Liquidity. , pumping liquidity into the system how things have changed isa year because now carney deciding whether he should take back rather than giving. Consumer lending, which is this chart, vonnie, growing at an annual 10 pace, on petition among. Lenders. To the question is will he take back some of that . Liquidity will be among lenders. So the question is will he take back some of that liquidity . Vonnie mark, you had a running start because you are up all less we can we miss you are the winner today. You are the person who has to suffer, im afraid, i am sorry. [ noises inside can ] [ laughing ] its driving me crazy come on. [ spitting from tongue ] time for my secret weapon. Sports, movies, tv, ah, show me music to distract a minion. [ voice remote click ] oh [ pharrell starts to play ] [ minion so happy to see screen ] ahh im pretty smart. Ahhh [ lots of minions ] [ mooing sound ] show me unicorns. [ click noise for tv ] ahhh that works too. Find your awesome with the xfinity x1 voice remote. See despicable me 3. In theaters in june. York, it is new in new midnight in hong kong. I am vonnie quinn. Anna and i am anna edwards. Welcome to Bloomberg Markets. Vonnie from bloomberg World Headquarters in new york, heres the top stories that we are following. The u. S. Supreme court revised most of president Donald Trumps travel ban. The potus agreed to the scotus agreed to hear arguments. Senate leaders are expected to release a revised version of the Health Care Bill today. Waymos selfor driving Vehicle Service has agreed to deal with avis. So we are halfway into the trading day now, and julie hyman is here with the latest. Julie we now have a mixed picture going on. As we speak, it of war from everything else