Lunch. Im michelle carusocabrera. Checking the markets, s p 500 and the nasdaq higher, not by a whole lot. Shares getting high since late last year. Lower by nearly 5 on the back of earnings. Its not all bad news, however. Shares are surging. Chipotle over a oneyear high. Lets get back to the big market story that as brian moated check out the s p 500 over the last two months, flat, after a very hot start to the year. So what is taking the air out of this market . Bob pisani is going inside the numbers from the floor of the new york stock exchange. Bob, what happened . Reporter good to see you as always. Theres a dangerous uncertainty for stocks. Fiscal reforms are being pushed out. The hohn y moons over on tax cuts and less regulation and infrastructure spending. The president said he was working on tax cuts yesterday. The market ignored him. Weaker data to the Consumer Price index to the Producer Price index, Economic Data has been weaker. The odds for a fed rate hike 44 . Close to 6
Fda notedter the Incomplete Records during an and action on the plans earlier this month in a note seen by omberg says failure to investigate masses that thats is that did not meet specifications. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. Bloomberg. Ching hong kong and china closed for lunch. Barely moved. Bouncedte back back into positive territory after being in the red. I will be back in half an hour. Ousef welcome to the best of Bloomberg Markets president erdogan with sweeping new powers in a referendum area we spoke to the deputy Prime Minister and has its worries for the lyra. Rex tillerson warned it could be another north korea if its Nuclear Ambitions are left unchecked. Capitalhear from our and see why als are being good. Weekendls best rally is due to a surging u. S. Production. Asking opecs chief model for the take on the situation. In the 2016. [indiscernible] q2 withto q1 and traditionally more the resurgence
Speaking of d. C. , as President Trump closes in on 100 days, not getting a boost with this market rally. Thats nnenergy. Its the worst performing sector. Theres a debate on whether its time to buy the losers. Meantime, we got a whole in fact, this would be the busiest earnings week in a long time, but its kicking off tonight, we got alcoa, express scripts, and tmobile reporting. John legere is here as soon as results are out. Of course, john, a colorful interview. We look forward to the comments coming up. John legere, jim cramer together. Fire. Payperview if anything. Beginning with wall streets rally, driven in by the French Elections, results there, showing the leader now going into that final election coming up in two weeks, bob, and michelle is in. The market is holding up, all the european banks rallied. Deutsche bank up 11 p close 20 a 52 week high, its amazing. Come over here. We are having huge numbers of stocks with 52 week highs, close to 250 today. Industrial stocks like 3
Valuation to secure an imf loan. Yousef and saudi bank stocks have never been so cheap. The pricetobook ratio for lenders at its lowest level bloomberg started tracking in 2006. It is in 00 a. M. Across the emirates, semiclock a. M. In istanbul. Im yousef gamal eldin. Angie and im angie lau in hong kong, where it is just past noon. Welcome to Bloomberg Markets middle east. What were watching here in asia as charles 11 make some comments for us in sydney in australia. We are also watching that u. S. Dollar strength really impacting the asian markets. We did start off strong when it came to oil, but we are paring those gains now. How about your neck of the woods . We were off to a slow start at the world energy congress, and then things kicked up when the heads of state walked in, including russian president Vladimir Putin, including rizzo erdogan, his turkish counterpart. Whether nonopec will join the conversation. This is what happened when the russian president started speaking about
Paul ryan and others give zero support, he sent this get ready, folks. And within the hour, he tweeted, the very foulmouthed senatojohn mccain begged for my support during his primary, i gave you one and dropped me over locker room remarks, and as a discord within the party reaching a very heightened state after a video surfaced which donald trump made pretty lewd, awful comments about women. Many top republicans, including Speaker Paul Ryan quickly began to distance themselves from donald trump following the release of the video. Joining me is the son ever the late Ronald Reagan, he is the author of lessons my father taught me, michael reagan, good to have you here. Welcome. Good to be with you. Trish were seeing a pretty big split here between the traditional conservatives and the base supporters of donald trump. In your view, has donald trump really changed the Republican Party forever . I think, yes, he has changed the Republican Party forever, i think the Republican Party has to r