Its breathtaking. It has the benefit of surprise. Viviana july is here. The fomc has signaled rate cuts may be coming. Clevelands fed president shares exclusive insights on the policy outlook. I think the fed funds rate is about at neutral right now. Viviana plus, expert perspective on what is ahead for the global economy. I think the market is getting a little bit greedy in terms of rate cuts. There will escalate, be a global recession. Viviana it is all straight ahead on bloomberg best. Hello and welcome. This is bloomberg best, your weekly review of the most important Business News, analysis, and interviews from Bloomberg Television around the world. Lets start with a daybyday look at the top headlines. The week began on a note of optimism after president s trump and xi met at the g20 summit and agreed to restart trade talks. Francine the u. S. And china have agreed to a trade truce and say they will revive stalled negotiations. This after talks on the sidelines of the g20 summit in
You know, forhe a while stock and bond markets have been focused on three things, trade,r the fed andrate earnings. Today all three issues collided. First, presieant trump rd that the u. S. And china still have a long way to go before the two countries rch a trade deal, and he warned once again that hes ready to slap tariffs on another 325 billion of chinese goods. , seconew report said that retail sales increased more than expected in june, an indication that the consumer is strong. That could change the calculus for the fed and the likelihood of rate cuts this year. Third, earnings reports released so far have shown that Consumer Spending i strong, but business spending is slowing down. New reports like thesean often change a longheld outlook for growth, so we asked Steve Liesman to put together a realtime assessment of the economy. Thats where we start tonight. Reporter well, everyone seems to be expecting the Economic Party to wind down or even end, no one seems to have the told th
Earth if theyre looking for inflation. Its wednesday, july 17th. Worldwide exchange begins right now. Good morning, good afternoon, good evening and welcome from wherever in the world you may be watching. Im Brian Sullivan thats shot of the beautiful u. S. Capitol in washington, d. C. Thats where facebook will get ready for a second day of testimony over its contested libra Digital Currency well go there live in a moment. First your markets and the global money stock futures are slightly higher now dow futures are in the green, up about 30 points now. The dow, s p and nasdaq failing to close at record highs yesterday. The blue chips turning in their first down day in the last four. Bond yields remained steady. The tenyear yield is trading at about 2. 10 . Exactly on the tenyear. Around the world, you look at asia, a theme the last few days. Not a lot of big market swings japan reopened down 0. 3 you could see slight moves here. A similar story in europe. Not a lot of numbers on the mov
End up taking away some services i want to know when we start suing European Companies to get back what they steal from our companies. Every time you get a 5 billion charge against an american tech company, lets sue them back which ones . Take s. A. P. Thats the only one they got they basically legislate innovation out of their business in europe. Well dig deeper into this. Its something the markets are focused on you think election cycles end . I think well go through an intense 18 months. Get a week off. Do we get a week . This cycle it will be about bashing tech it wont be about bashing healthca healthcare youre a good outsider looking in you have great oil and gas stuff. Good miners. You will blackberry for a while. That seemed okay you had a little tech. You admire what were able to do down here. Im a huge investor down here i know. I think the biggest trade opportunity in the next five months will be taking u. S. Dollars, converting them to canadian you would have to beloony t do
Summit in japan, the u. S. And china agreed to hold off on levying more tariffs in an effort to get trade talks going again. Prheident trump also said u. S. Would relax restrictions on American Companies sellingts prod to Chinese Telecom giant huawei. As a result, stock got an initial lift. While the gains were more tha halved, it was still a record day. The dow rose 170 points. The nasdaq helped by the chip stocks rose about 85 and the s p 500 climbed 22 to are rd, its sixth so far this year. We have two reports on trade starting with Kayla Tausche in washington. Reporter after a sixweek standoff, President Trump and president xi brokered afi ceas in 80 minutes. Trump agreed to relax a ban on huawei in exchange for inas buying more farm goods and there will be no new taceffs. The t has no deadline, which means present trump cannd it whenever talks fall through or keep it going, telling reporters hes in no rush. So were making a deal with china, or were attempting. If we dont, we have