julie hyman. david, it is remarkable, isn't it? how much exit capacity is it there really we do not expect? trump said his top priority is creating the u.s. jobs. to takeow weighed in action. he tweeted about gm and toyota mexico andobs from ford decided not to build the mexico plant. and investors are trying to figure how to respond to these almost daily tweets. harris putay, david out the pluses and minuses. >> the question is, whether these tweets are really a reflection of policy, are they threats? are they trying to establish a stronger bargaining position as they look at nafta? who really knows at this stage. that is the problem with the government by tweet. this is the negative part of what mr. trump is portraying as the future president of the united states. the positive is the type of people he is bringing in his cabinet and the direction. deregulation and lower taxes. a man with us is a man who has been with the donald trump and now chairs his inauguration bank -- in them,ion -- an operation tom barrett. it is jobs day. d

call, monetaryat and has been julie hyman. what is the update? julie: the company talked about the buyback that you mentioned, and also talked about the increase of $600 million in net interest income care that is expected in the first quarter as bank of america benefits more from the increase we have seen in interest rates. the company cfo is now speaking on the call. he is talking more about the consumer banking division. he says the company is focusing on consumer relationship management, and noted the company enrolled 1.2 million clients in it preferred rewards program in 2016 as a whole, which is a 42% increase year over year, and he said the retention rate is very high for those individuals. in terms of hiring, the company said its overall employee base fell by 2% in the fourth quarter versus the fourth quarter of 2015, but they are adding people in some segments, including in sales. in the first quarter, bank of america is going to book a $1.3 billion cost for the entire book -- retirement eligible cost. we are getting some forward-looking

let's get to julie hyman. johnson and johnson is where we are starting this morning, chairs are not changed at the moment. earlier they were up 1%, after a judge/their punitive damages in a case involving defective hip implants. meantime, j&j says it will proceed with an appeal over a guilty verdict. it is citing legal errors in the case. we are also watching to connor, the japanese -- takata, the japanese auto parts maker. were up by the daily limit on each of the three sessions. the settlement with the justice department has not been announced over the defective airbags, but part of this has been attributed to short covering, which has been dropping. finally, back to retail in the u.k., next, down 11% as the company slashes its forecast for this year and next year, citing a moderately disappointing christmas season. 0.4%.tore sales dropped analysts were looking for a gain of 2.2%, so definitely this appointing. david: thank you. new numbers out today from europe show inflation kicking up, but is it growth or

with julie hyman today, and david westin is on assignment today. 0.002% away from doubt 20,000 on friday from dow 20,000. in the fx market, this gets my attention. the pound falls to 1.2166. julie: we will be digging much more into that any moment. here is what you need to know at this hour. a volatile start to 2017 for the offshore yuan in particular, the currency falling for a second day as china weakens its currency for the most since june. the pound gets pummeled. theresa may hints at a single market exit for the u.k.. tightening. potential candidates to head the federal reserve next year, including glenn hubbard of columbia university, suggesting monetary policy would be tighter if they were in charge. we turn to david westin, live in detroit at the north american international auto show. this is where the top automotive and technology executives defined vehicles and industry shipping announcements. david, it is good to have you with us. maybe a lot more about where they are going to be made? david: exactly right. this is the first day. there just about to get show started in detroi

julie hyman is here. julie: we have the isn nonmanufacturing composite. the largest portion of the u.s. economy coming in at 57.2. 56.8% was the estimate. coming in ahead of estimates. more positive economic data has come as a late. service industries coming in faster than forecasted. sincethe highest level october 2015. seeing a mixed picture in stocks as we get these numbers. this was the picture and what it looked like going into it. the dow and the

come up roberge julie hyman it's with

ding date vonnie: we are just getting breaking news, the ifm number set to come out, 53.2 and julie hyman has the details. we are getting a reading of 54.7, better than predicted. selling -- showing signs of inflation. month prior.54.5 a new yorkers and the unemployment portion of the index coming up 53.1. what stands out is the price is paid component. looks like it is pointing toward signs of inflation.

from new york, i am julie hyman. mark: from london, i am mark barton. welcome to "bloomberg markets." ♪ julie: we take you from washington to davos, switzerland. any cover stories from washington to china. mark: let's look at what is happening in european equities. two words -- theresa may. european stocks little changed. down by roughly one 20th over the financial services utilities. let's show off the wcrs function. this is sterling. currency in major the world is declining against the pound. theresa may, u.k. prime minister, said mp's would