Good morning for our audience worldwide, this is bloomberg surveillance on tv and radio alongside tom keene and lisa abramowicz, im jonathan ferro. Just about positive on the s p 500. Tom not your father strike. When i saw it, they nailed it about the 10 00 p. M. Stock. This is an original strike going back over to uaw history, back to 1958. Into real challenges before world war ii. It is an original strike, a selective strike, that is what is new. Jonathan gm said they offered unprecedented package. From ford, the union made little movement. Rambo, we have not heard from this white house, have we . We are waiting for a statement from the president. Lisa hit the he did speak with the leaders and auto manufacturers. What did he tell them at a time where his policy is contradictory . In one hand hes pushing for electric pickles and a lot of the vehicles are pushing back on yet they are helping some of the auto manufacturing with those. On the other hand, it is it is the most prounion in
Democrats are upset that the report was not accompanied by fresh sanctions for russias alleged meddling to the president ial election. Liste on the all a card are not subject to penalties. After coming under extreme criticism, pope francis decided an investigator to investigate victims of covering up for the countrys most notorious pedophile priests. The general secretary of the conference announced that multis archbishop will travel to chill who has denied charges of the abuse. Frances defended the archbishop. Nassar run capitol hill today on legislation that requires governing bodies and amateur athletics to probably report abuse claims to law enforcement. This is not for lawmakers make changes and sent it back to the senate for approval. I want to thank the very brave Young Athletes who have come forward and spoken about their personal experiences of sexual abuse. Thank you for shining a spotlight on this horrendous crime. Mark the legislation extends the statute of limitations for
The s p 500 is the worst we have seen since march. A lot of it does have to do with what is happening in health care. Disappointing earnings as well, this morning. Weve got this agreement between amazon, jpmorgan and Berkshire Hathaway to provide Health Insurance for those companys employees those companies employees. It is unclear what the details of this Health Care Plan will look like, what it is putting serious fear into the Health Insurance industry, especially because amazon is involved. As we have seen over the past year or so, every time there is a whisper of amazon getting into a new business, whether it you are talking about groceries or some other business, we have seen stocks in that industry amazon is seen as such a dire competitive threat. Cbs, we also have the various Pharmacy Companies that are falling in todays session. Cbs, walgreens and rite aid are following are falling. Take a look at the bloomberg, because we have seen health care as one of the leading groups in t
And the incoming fed chair jay powell. We start with the big issue, dalios warning resonating from davos to new york. Take a listen. Ray a 1 rise in bond yields will produce the largest bear market we have seen since the 19801981 period. Has that bear market started . Are we in it . I think we are in it. There will be a time the bank of japan and ecb begin tightening. That will be the time when bond yields increase. I dont see that now, unless im wrong on inflation. I dont believe the Federal Reserve will get the 10 year to 3. 60 i dont think the bear market is starting. Since 1990 we had many, many predictions of a bear market in bonds, but it has not happened. Lisa joining me in new york is Subadra Rajappa, and Rachel Golder, and coming to us from london is Luke Hickmore. I want to start with you, subadra. Has the selloff in benchmark the s just begun, for is this the extent of it and will people pile back in . Subadra thats a good question. I think there is still more room for bonds
With the Corporate Tax cut, but there was one industry that got a bigger snub last night than any oscar wannabe ever has gotten. This one could drive a new wedge between congress and the white house. It involves a lot of money, were going to explain. And talk about a snub. When it comes to Mark Zuckerberg and the winklevoss brothers. A wedge doesnt do justice to the bad blood that may be boiling between the harvard grads. A new move by the social network against cryptocurrencies and the rest has us at countdown wondering if zuck is holding a grudge over having to settle with bitcoin billionaires over who really created facebook . Facebook and microsoft earnings on tap. Why millennials may be more financially savvy than we thought. How can you cash in on the governments infrastructure push. And President Trump versus Alan Greenspan . Charlie is about to break that hour next. Youre in the right place. Lets start the countdown. We need to get to that very scary situation right now in virg