Global trade debate. People who see globalization from 30,000 feet dont know a thing about how globalization works. Alix the drumbeats stayed loud and strong with a slew of quarterly reports. We never rule out any instruments, and our toolbox is rich. The revenue is the story and this is driven by new product introductions. Alix it is all straight ahead on bloomberg best. Alix hello and welcome. I am alix steel. This is bloomberg best. This is your review of the most important Business News, analysis and interviews around the world. This was a critical week for global monetary policy. The decisions coming from the fed and the bank of england. On monday, u. S. Immigration policy dominated discussion. President trumps immigration clampdown continues to spark a global backlash. Allies from the u. K. To germany condemned the move, and Major International Companies Said it threatens to strangle the free flow of workers and commerce. Executives from apple, ge, facebook, tesla, and starbucks
Look out below. Thats what i hear about this market every single day, including this one. Dow dipped 36 points, s p inched 0. 07 . Nasdaq advanced 0. 15 . Every day i try to reconcile these worries with my own view that stocks just arent that outrageously priced versus other big runs weve experienced before. In fact, i think the valuations in many cases are pretty darn reasonable. But i have a hard time proving it because were in an incredibly visceral, polarizing moment stemming from the election of a probusiness president who seems to rack up an incredible amount of baggage on a daily basis, baggage that makes this really seem incongruous. To put it simply, while trumps economic ajean did could be pretty positive, our new president has an unpredictable style that makes it difficult to fully emprasz the notion that we should be paying up for stocks here. Im sure there are some investors who read President Trumps tweet today criticizing nordstrom for dropping his daughters brand of mer
Market. Being a strong developing market. We do have some donut competition around the world. I think you have to come back to the fact that globally, the number one seller of donuts anywhere in the world is dunki donuts. Matt you mention the cold pressed coffee and i know youve recently done a partnership as well with cocacola. How do you see your coffee evolution . Youve moved away from drip coffee and more into espresso and customized drinks. I wouldnt say we moved away from it. Original blend coffee is still a significant part of our revenue. Young people like two things, which we are the Market Leader in iced coffee, and we enhanced our coffee range with the introduction of cold brew. We brought in more espressobased drinks. Millenials like espressobased drinks and maki otto ma cciato. Macchiato. They also like iced coffee. We are not going away from drip coffee, but the opportunity and espressobased drinks and iced coffee is spectacular and is growing. Matt probably because you c
Flatter . If it was zero. Ditto for almost all of europe. Hardly anything there. Crude oil at this hour is stronger by 37 cents, 45. 93. That may be because the dollar has taken a breather after its rampant run. It was one market that just kept going and going. Today a bit of taking the edge off. Carl icahn warns that the strong rally in stocks since Donald Trumps election might be overdone. Even more overdone than the overdone market that hes been warning us about for the last six months, maybe the year before that. Ive known him 20 years, hes been warning me for 20 years about the market. Speaking at a conference yesterday, icahn says investors can expect trump to help fix washington and improve the state of the economy. Icahn has been a strong trump supporter. He said he bet about a billion dollars on u. S. Equities after leaving trumps Victory Party early last wednesday morning. Thats interesting. Before the election how many times have we had this as a headline . I stand over ther
Very interesting is how the democrats are playing trumps bad week. And this is really key i think for the Republicans Holding onto the senate. Mark as you saw yesterday unendorsed donald trump. Bob portman is not quite there but moving away from donald trump after the comments about judge curry. We have bob courtman on the show later on. And whats fascinating about bob portman, he put out basically a call to potential donors that you have to give me money, please give me money because im being targeted right now by harry reid and a 20 milliondollar super pac to take me out as senator of ohio. The democrats think that all of these guys in these sort of marginally red states or swing states. Purple states, could gite way, they think those guys are vulnerable. Kirk is one, portman is one, and what theyll do is try to attach them with donald trump and some of his outlandish statements, particularly this statement about judge. And thats what theyre worried about. Now, i would ask bob portma