Peter navarro meant to say on fox last night. There was a little confusion. I think that he was pretty definitive to say it was dead, the president was pretty definitive in saying the trade deal is on who would ever think that this would happen, good news out of europe, pmis are strong, they are inflating things in their economy like we are. I also think there might have been a short squeeze those of us who watched when navarro said what he said the market plummeted and i think overnight traders said its going to open down badly im going to get short and they got whipsawed because you didnt think navarro could be reversed as quickly as he was given the fact he is a close confidant of the president. Almost exactly what art cashin is saying this morning. Whipsaw resulted in a good deal of short covering. He says the bulls may now reassert control he says they need to take the dow up by more than 450. The bulls are when you watch the market ahead of time you see so many stocks going up fo
A white house official says a response could come this week. There has been a breakthrough in libya peace talks. The United Nations says the countrys warring sides have agreed to turn a ceasefire into a lasting deal. Weeks of sporadic violence have derailed negotiations and dashed hopes for a more permanent agreement. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. It is 1 00 p. M. In new york, six 00 in london, 2 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories we are following. A sea of red for global stocks. The s p 500 wiping out its 2020 gains and posting its worst day in two years. Investors fearful as the Coronavirus Spreads far beyond china, potentially upending Global Economic growth. Seek safe havens, gold looms toward 1700 an ounce. We talked to the ceo of
Well hear from the bbcs team there. The boss of mcdonalds has been fired for having a relationship with an employee. Mcdonalds said it was consensual, but violated company policy. Congress has published two transcripts of testimony given by former ambassadors about Donald Trumps phone call asking ukraine to investigate joe biden and his son. This is all part of the impeachment inquiry into President Trump for his part the president denies withholding military aid until ukraine began the investigation. Former Us Ambassador to ukraine Marie Yovanovitch says she was shocked to discover that donald trump had told the ukrainian president she was bad news. And that before she left her post in the spring, ukrainian officials had warned that a campaign against her was being orchestrated by President Trumps lawyer, Rudi Guiliani and she needed to watch her back. Just to reiterate thats ukraine warning the Us Ambassador about the actions of the president s lawyer. The other former ambassador is
Theyre dad better be thankful were going to take you there live power lunch set to come out of oven right now strong gains on wall street this hour. The dow is up triple digits. The s p costing the 2600 mark for the very first time. Its been more than two weeks since the s p was able to screen back to back gains the best performing grews. Check out some individual movers up 4 on its earnings. The food Company Early morning its grocery and Specialty Food business the company missing top and bottom line estimates. Dsw plunging double digits also missing profits in sales estimates. As a Virginia Tech hokie, calling me a turkey is the greatest compliment you can give thank you, michelle. Gobble up. We begin with a cloud of uncertainty hovering over one of the biggest deals in media history. The Justice Department slapping at t and time warner with a lawsuit saying the 85 billion deal is quote illegal and harmful to consumers at t Ceo Randall Stephenson fighting back against the doj decisio
Getting through as many as we can. Its a jampacked two hours. Why niles shorts amazon on the back of the deal, and former walmart ceo, bill simon, why walmart has more to worry about other than amazon. Bill miller, a bull on the stock, and talking to him about valeant, and alexander accosta reacting to President Trumps comments on cuban policy lets get to it we have details of the amazons deal to buy whole foods and what it means for rivals. Mike, this is a little bit of what it means because ramifications have many, many ripple effects, but the deal to buy whole foods makes it amazons biggest acquisition to date, and one thats royaling grocery and retail stocks. Amazon says it will maintain the whole foods brand with the ceo and cofounder somedaying at the helm, for now. The overlapping is high already, and the stores are are located close to many amazon distribution centers, which is an interesting point the partnership certainly arms whole foods with logistics and data expertise, an