De dedra bosa, what did we miss they looked particularly ugly next to lyfts yesterday its quarterly loss was its biggest ever, now a large part of that was cost related to its ipo. But ubers also facing ridesharing competition in markets abroad like latin america and india. Competition is even stiffer in food delivery. We saw that play out in this earnings its either business, ceo telling us that it is likely they will keep losing money here for years as, quote, theres a lot of capital chasing a lot of growth. As for the question of overall profitability, this is what really matters most to the street, while lyft was pretty direct on their path last night, saying that last year was, in fact, peak losses for them, ubers ces on was less clear telling us, quote, we think that 2019 will be our peak investment year, and we think that 2020, 2021, youll see losses come down i think our break even is something that we can push the company to break even if we really wanted to frankly, he added,
Trading behind the hottest commodities with the smartest voices in the business. We kick it off with spot on, our take on the big story and we focus on the commodity rout. The bloomberg Commodity Index rebounds thursday after after hitting a threeyear low and our Bloomberg Team has you covered from all the angles. Mike, lets start with you, gold able to break out of a 1500, it did not hold that level. Is it topped out . I dont think so. To 1700. Is to get you said earlier in your show, a six year high, that was 2013, the big collapse and , the high was 1700. Alix it tracks a must take for tick, what is that mind telling you about where yields will go and why gold is a safe haven . Down. I mean, this is not the first place you want to list a yield in the bond market. The trend is your friend. It is clearly lower. With copper and gold and that trend heading down and yields heading lower, i dont know what it will take to stop that. It might be a speed bump in the short term. Alix does cop
Conversation. Those. Say the United States is we realize each country likes to planning to conduct tests on new explained to me what we got this morning. He jobs report got overshadowed have tare happy to talk about t. Missile technology that would by trade. One issue is that huawei is a have violated a treaty with it was not necessarily a bad report. Russia that expired today. It didnt show us that things chinese company. Last year, President Trump one of the b concerns is the were improving. Announced he would withdraw from is that right . This is a solid but not the 1987 intermediate range National Intelligence law in china that requires Chinese Nuclear forces treaty in 2018 spectacular jobs report. 164,000 is a perfect the good information in order to after accusing russia of number at this point in the developing and applying a weapon recovery. The thing that is worrying as cooperate with intelligence agencies. Itselfld huawei defend that violated the pack. You continue to see the
Than expected. That means we have a bit of a risk off move. We had moves from the central bank of new zealand, and overall, new zealand stocks are gaining. There is quite a lot of movement when it comes to commodities and we will have a full roundup of centralbank action and its impact on stocks and commodities. Coming up, we speak to the commerzbank chief Financial Officer. Dont miss that interview live later on bloomberg surveillance. Lets get straight to bloomberg first word news in new york city. Chinas currency policy is staying at the forefront of the trade war. Referenceet todays rate at marginally stronger than seven a dollar. Avowing to keep the Exchange Rate is vowing to keep the Exchange Rate study. Westminster and brussels blame the other for the diplomatic breakdown. Michael gove is in charge of planning for a no deal and says the eu is not bracing for a new agreement. The Prime Minister has made it clear he will not sign a deal that includes the irish backstop from a red
Brent. 52. 35, not down as much as it was earlier. The 10 year yield down another basis point at 2. 09. We are climbing ever higher to the 2900 mark on the s p 500, up just 3 10 of 1 right now. Guy lets kick off with hong kong. Another day of massive protests yesterday as chief executive carrie lam says she would indefinitely suspend consideration of a controversial extradition law. Joining us from hong kong, Stephen Engle, bloombergs chief north asia correspondent. Do you feel these protests are going to continue until carrie lam departs . Stephen yeah, that could happen. Of course, they are at a much smaller scale during the workweek, a full day after the estimated 2 million hong kong people took to the streets yesterday in that defiance against the extradition bill. Right now we still have several hundred smaller pockets concentrated down here, in front of embattled chief executive carrie lams offices. Theyve been here pretty much all day. They dont want just a suspension of debate