zach hyman in back of the goal. 2:37 on the clock. hyman double-teamed. salt away a few seconds along the boards. a smart play. now henrik zetterberg hands it off. >> pierre: i think at some point he's -- >> john: looking at the bench. halfway out. >> pierre: there he comes. >> john: you see it. 2:19s on the clock. six skaters for detroit. zetterberg from the corner. back of the goal. brought this way by tatar. checked by they force it to the point. brendan smith inserts. see it roll around. zetterberg in control. just about two minutes left. clear it all the way across. dekeyser. to the corner. zetterberg muscled on the play. now zetterberg through the slot. good positioning that time, but not out. van riemsdyk. here's zetterberg. henrik zetterberg holding onto it. chance. they score! the follow-up, and i believe it's dylan larkin. sneaking in on the weak side and the red wings are within one. >> pierre: john, you called it, toronto was in perfect shape and it leads to a turnover. right here they don't get the puck out. james van riemsdyk turns the puck

connor brown set up by zach hyman. toronto with a 3-1 lead. >> pierre: johnny, there's one of the animals mike babcock talked about who insulates auston matthews. grind, skill, speed. zach hyman, another one of the animals. keep it alive. then the finish by connor brown. it's intensity, it's quickness, it's passion, and it's a finish. and when you think about how the period started, mike babcock and his intensity, matt martin and his fight with steve ott, and then you saw the explosive nature of the toronto maple leafs and now detroit's called a time-out. right in front of the detroit bench. this crowd and this toronto team got awake after this. you just see, he's talking, see steve ott, yeah, i got you on film, but believe me, everything changed when babcock came out here. we talked about the intensity he showed. we talked about the fight with martin then you see the offensive eruption by this toronto maple leafs team. youth is being served. >> john: you called it. as soon as you saw babcock and the type of presence h

connor brown set up by zach hyman. toronto with a 3-1 lead. >> pierre: johnny, there's one of the animals mike babcock talked about who insulates auston matthews. grind, skill, speed. zach hyman, another one of the animals. keep it alive. then the finish by connor brown. it's intensity, it's quickness, it's passion, and it's a finish. and when you think about how the period started, mike babcock and his intensity, matt then you saw the explosive nature of the toronto maple leafs and now detroit's called a time-out. right in front of the detroit bench. this crowd and this toronto team got awake after this. you just see, he's talking, see steve ott, yeah, i got you on film, but believe me, everything changed when babcock came out here. we talked about the intensity he showed. we talked about the fight with martin then you see the offensive eruption by this toronto maple leafs team. youth is being served. >> john: you called it. as soon as you saw babcock and the type of presence he had at the start of the period. and it'

come up roberge julie hyman it's with a -- bloomberg casa julie hyman is with us. julie: pullback has continued and accelerated in today's session as investors are looking for more details on fiscal policy prescriptions that

julie: in new york i am julie hyman. this is the european close on "bloomberg markets." ♪ mark: we will take you from washington to switzerland and cover stories out of london, wall street, and china today. here is what we are looking at. let's take you to erik schatzker with today's top headline. feeling theis spotlight. the president is using his first address ever to defend the global economic order. and taking a backhanded swipe at donald trump. he said no one is a winner and a trade war. the president-elect makes news s the president-elect will likely do away with the tpp trade deal. john

vonnie: julie hyman in the newsroom on the jp morgan call. thanks.on williams, next week we will have the jp morgan ceo, jamie dimon. ourof the interviews from economic forum in davos. more from our new york newsroom. >> lawmakers who want to appeal the affordable care act face their next hurdle. the house is expected to take up a measure allowing for this would repeal of president obama's health care legislation. several republicans plan to oppose. a are concerned about coming up with a replacement. donald trump says he will have a full report on hacking in 90 days. in tweets he said a report that russians had compromising information on him was put political opponents and a failed spy. he called the allegations phony. james mattis is the latest to president-elect on seeking relations with vladimir putin. he said russia is a strategic competitor with the u.s., and will find little common ground. china's exports were lukewarm. overseas shipments fell 6%. global demand hurt sales. china is bracing for trade friction with the u.s. under a trump

julie hyman is here with the latest. julie: i want to start with the smaller cap averages. i thought we had a board of majors as well. we are seeing a selloff accelerating as the day has gone on. we've seen crude oil take a leg lower. an in the moveen and treasuries that's acceleration-- an in the move in treasuries.

this is bloomberg. ♪ julie: live from london and new york, i'm julie hyman. mark: this is the european close on "bloomberg markets." six minutes before the end of the tuesday session. today, big week at the world economic forum in davos. francine lacqua took the temperature of several executives in attendance. >> if you don't already have a european subsidiary bank, you really have to work out whether you're going to dublin or paris or frankfurt. you have to plan for the worst and hope for the best. >> it is clear i think that the european u.k. relationship will be status quo minus. it will not be as good as it was. it is important for britain to step aside and renegotiate with the rest of the world their relationships and trade and financial services. the europeans are in an election campaign almost until the end of the year. it would be devastating for london. we would come off a fetch literally. -- cliff edge literally. this is information based on the bank of england and very clear economic forecasts. ubs chairman, some of the voices from the world econom

vonnie: julie hyman, thanks for that. for more on under armour, let's bring in an analyst for bloomberg intelligence. i put in your name, sorry. -- i butchered your name, sorry. how do we do this without having to deal with the new in ministration -- the new administration taxes? tell us about the current state of affairs. >> for under armour, we are looking at a category that has been hurting for the past year. we have bankruptcies in sporting goods. the story weity, have seen, is the dollars are shift -- shipped to new retailers. it means those daughters -- those dollars go online and it how to be figure out their products. david: julie hyman cited the competition between nike and under armour and a fetus. -- adidas. >> that brings me to the second problem. sports can pull data formulas obit. in the last quarter, if you look it went up.ere, if you look at performance for wear apparel it went down. under armour is very exposed to the segment, unlike nike and adidas. it might be doing better, even in a challenging environ

this is bloomberg. ♪ asia.s is daybreak i am julie hyman. yvonne: hong kong based property developed hang lung reported a jump in profit with revenue nearly doubling. the hong kong market outstripped demand in china and it is focusing on driving rental growth in the city. the chairman also see signs of office andn the industrial sectors. we got the man right here. joins us in the studio. happy new year. what do you make of this result? a bit of a saving grace for a challenging year for the property market. can that continue now that we see these hikes in hong kong and these capital controls? more, a little bit perhaps. the land supply has always been a problem in hong kong. that is why the property price has been up. the administration is trying to supply more land and if the policies continue, prices of houses will moderate. yvonne: would you consider replenishing your land bidding in the city? developers are very aggressive. compete? >> i'm not sure if i want to. we only want to make money. we can buy land in mainland china. that is what w

here in new york and i am julie hyman. out of the u.s. that president trump has fulfilled his campaign promise to get rid of the transpacific partnership. obviously that has implications not just in the u.s. but around the globe so what we are waiting for our reactions, particularly from china to see what they will have to say about this. china -- trump is also talking about renegotiating nafta. trade relations will be will they be a lot of fill this void in the global trade sphere. it makes for a mixed picture in asian markets. exporters are going to be the ones to watch today, given the tone set by trump overnight. the dollar is some thing they are watching very closely even a strongcomment that dollar could have a negative short-term impact on the economy. 113 dollars mark there. we are also seeing a jump in gold. it touched a two-month high earlier. we are seeing a pickup in gold holding for a fifth day. itlook at the bond space. we are seeing a rally in treasuries continuing after trump vowed a border tax in a meeting with business l

about 30 minutes into the hasing session, julie hyman been following all of the latest. julie: a mixed session. as it looksgoing on like investors are awaiting some of this on capitol hill as well as donald trump's press conference tomorrow. the dow is treating a little lower and the net that the little higher. we are not seeing much change overall. nasdaqy change in the means for the past six sessions, the nasdaq has risen each one of those days. here is a one-week chart and the gains it is seen regularly. it will be the fourth straight record close for the nass, the togest streak going back december 1999. it had underperformed postelection in the immediately of the election, the dow was up warming and small -- small caps were outperforming. stocks are pulling back a little bit today and have risen thus far. facebook, netflix, all seeing is driven byasdaq some of these underperforming companies. we see commodities lead as well as together chinese and patient data, helping some commodities. the oil is lower even as russia and others are pledging to cuts asnact production

julie hyman -- i am vonnie quinn. julie hyman has the chart of the day. julie: consumer discretionary is the best-performing group in the s&p 500. the catalyst in part appears to be weekly sales data from redbook. the year-over-year change on a weekly basis. here is what it looks like throughout the past year. surge at the end of the year in gains. last week's gains, 2.2% over the prior year. earlier the number was 2.4%. redbook came out and corrected it. it looks like the market is treating this is pretty good news. look at specialty retailers, for example. this index of 1.5% on the day. you have the broad data and then the specific retailers with specialties that are doing well. we have abercrombie & fitch being upgraded. marking it up from underperform, where it was previously. the company's estimates have come in a little bit. casino retail outperforming, as gap. as watching these three retailers pretty closely. looker chart i'm taking a at, one i have consistently looked at, fascinating one, this has to do with where the retail traffic is going. the

i'm mark hyman. two ohio police officers are being praised as heroes.. after rescuing a man from a burning car. sunday night's incident was captured on one of the officer's body cameras. police believe the driver was under the influence of drugs or alcohol when he drove into a ditch. the car burst into flames. officers arrived on the scene and pulled him out, just in time. after the officers got the driver away from the car.. a the car exploded again. the driver has been charged with driving under the influence. although he insists he was not under the influence-- the driver says he's grateful to the officers who saved his life. police are trying to find out what caused another vehicle fire.. this one on the new jersey turnpike. a tractor-trailer hauling several cars was on the shoulder in robbinsville last night.. when the vehicle burst into flames. just one person injured - a firefighter suffered a minor shoulder injury.. the tractor trailer was carrying 10 vehicles, and at least half of them were damaged in the fire. happening now.. parts of a major h

let's check where stocks are trading with julie hyman. bang has faded a bit dowhe days gone on -- the up 25 points. .3%.&p up headlines that ford was ns to buildts pla a plant in mexico. the peso turned down versus the u.s. dollar and we saw a ripple effect throughout the market. this is the peso inverted, peso-dollar pair versus the s&p 500. the peso turning lower when we got those headlines. the s&p 500 paired its gains at the same time. both of them now around the lows of the session. effect through commodities, particularly with oil prices. oil had been trading lower, bolstering energy stocks and then turned around as the dollar took a leg higher, boosting the peso. opec members and nonmembers are beginning the cuts that were announced and agreed upon in late november. natural gas has been trading lower throughout the session. forecasts for warmer weather to come through. gold and platinum both catching a bid today on the flipside. the ford announcement and the ripple effect and the other announcement, this vote on obamacare. seeing d

>> i am mark hyman. what is ahead for donald trump in the next three months? here is what is happening behind the headlines. it has become a clichÉ that a new administration has 100 days to roll out bold initiatives. this is the time when the, will the new president succeed? the press is been in total meltdown mode. barack obama had a honeymoon that lasted his entire presidency. obama care is already on the table peered this should rejuvenate small businesses. it is also welcome relief to the millions of americans who lost private coverage. 7 and a half million were shuffled into medicaid. peered start with the justice department, it abandoned its role as chief law enforcement agency. it includes the epa, irs and energy. it is time to drain the swamp. to comment, go to behindtheheadlines.net. >> autria: we are now counting down the hours until president-elect donald trump is sworn in. the presidential inauguration means hundreds of thousands of potential. many don't care about their patrons politics. >> lincoln restaurant has the gettysburg address on the wal

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. this falls on the heels of other cosmic numbers around the globe. on the manufacturing friend throughout the day, december ism manufacturing index rising at the fastest pace in two years at the 54.7. that prices paid gauge i mentioned is that the highest since june 2011. we have been seeing stocks climb this morning because of the manufacturing numbers from around the globe, in particular out of china. 19,891 on the at dow, so short of 20,000 but we continue to watch for that level into the new year. chesapeake getting .75 of 1% and the numbers around the globe on manufacturing, take a look at the bloomberg. a look at the chart globally. at 54 .7, the purple line is the eurozone number, also sho

julie: i'm julie hyman. welcome to "bloomberg markets." from bloomberg world headquarters in new york we are covering stories from davos, and seoul. morgan stanley is the latest thank you report better than estimated fourth-quarter results and sees a better trading environment ahead. amin nasser ceo of saudi aramco says he is committed to ipo plans. he speaks to bloomberg's editor in chief in davos. samsung's succession plans are in jeopardy. we are about halfway through the trading day. abigail doolittle is here with the latest on a bit of a fullback. abigail: nasdaq is on pace for its worst decline in 2017 after several record highs last week in the week before. the clients come as julie was mentioning, modest pullback. down for little more than .2%. a long-term chart going all the way back to the 1990's, and what we are looking at is the one-month rolling percent change for the dow. range8 we see a massive when the dow was losing each day. big, big range. we are right near the record low in terms of the 1% rolling range. not a lot. a re

david: julie hyman with that market update. conference, to questions from reporters at from -- to questions from reporters from the u.s. and to questions from reporters from the u.k. joining us now is bloomberg tv canada anchor -- react to what we've seen over the last 24 hours. as donald trump left philadelphia yesterday. what has the reaction been in canada to all that news? >> initially, is canada next? as we got our bearings, there seems to be signs that canada is not in the cross hairs here. canada has a trade deficit with the united states while mexico has a surplus. canada has a pretty similar economy to the united states in a lot of ways. with high labor costs. that means canada is not really in the cross hairs here. mexico seems to be the target. that is the idea that we've been given from the trump administration, from the trump team over the last couple of days. vonnie: prime minister trudeau has been quiet this week. even on the pipelines that should in theory help canada. it happens at the eyes of the u.s. presiden

i'm mark hyman. news. behind the headlines. there's another cyber-security issue that's received far-less attention. around christmas 20-15, juniper networks disclosed it found unauthorized code in its operating system. this created a backdoor to access encrypted data. the unauthorized code had been in place since at least 20-12. juniper is the second largest manufacturer of networking equipment. the company issued a pair of software patches as a security measure. what juniper didn't disclose or, if it even knew was who installed the backdr. as a result of the disclosure and patches, one it security company claimed it discovered juniper's master password. network security has been a concern for years. in 2007, a pair of programmers reported encryption approved by u.s. authorities was vulnerable to a backdoor. then it was learned the n-s-a had a role in installing security weaknesses in encrypted systems. banking, healthcare and other private data we the danger isn't just possible abuse by u.s. officials. this makes encrypted sy

julie hyman has the details. donald trump apparently remains opposed to the merger between at&t and time warner. apparently he believes it would concentrate too much power in the media industry. this is according to people close to the president-elect. he has not spoken publicly about this transaction but according to our reporting, a story out by jerry smith and josh green, he told a friend that he still considers the merger to be a bad deal. his chief strategist steve bannon is also opposed to the deal, according to people familiar with the situation. deal duringast the the campaign but has since been quiet about it. shares falling sharply on these headlines, down 1.7%. for trump did not him respond to request for comment. we are watching at&t shares as well. they have also taken a hit, but a smaller one as the acquirer, a less dramatic reaction. lower, but only off by .4%. it is unclear at this point whether or how the president-elect, when he takes office, we try to influence the regulatory review of that mer

come up roberge julie hyman it's with a -- bloomberg casa julie hyman is with us. julie: pullback has continued and accelerated in today's session as investors are looking for more details on fiscal policy prescriptions that weren't really given at that press conference. we still -- he is not in office yet. we will at some point presumably get more details. i wanted to look at the scorecard of where the three major averages stand since the u.s. election. about a 5% gain for the three major averages. if you take a look at the bloomberg i've made a chart of the three majors going back to november. the dow has been in the lead consistently ever since the election. what's interesting is the nasdaq was lagging throughout the month of december and as we got into the new year it played catch-up and overtook the s&p 500 in terms of its return as the nasdaq has been setting new records. he yesterday it was the three major averages to close at a record but it's a different story today as we see tech stocks pullback including companies like apple and rbc trimming estimates ah

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 s&p, very little changed. strength and technology overall. for the moment, we are not seeing an improvement in stocks based on these numbers. i'm going to take a look at the bloomberg, as well. a looks like we are not updating the dow. ticking very slightly into the green, actually. it is up by about two points. the s&p is up -- off by about 0.5 points. still a little changed. still of 0.25% on the nasdaq. -- 0.25% on the nasdaq. the focus continues to be on retailer. strengthen some of the retail stocks yesterday and today, we are going decidedly in the opposite direction. consumer discretionary down only

this week on "wealthtrack" in our exclusive annual outlook with wall street's king of economists, ed hyman. he describes how much the world has changed. he and matthew mcclennan tell us what it means for investors, next on consuelo mack "wealthtrack." ♪ >>> new york life along with mainstays family of mutual funds offers investment and retirement solutions so you can help your clients keep good going. >> additional funding provided by thornberg investmt

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

that is the headline in this week's exclusive 2017 outlook with wall street's number one economist ed hyman and matthew mclennan. the dploeglobal markets on next consuelo mack wealthtrack. ♪ >>> new york life along with main stay's family of mutual funds offers investment and retirement solutions so you can help your clients keep good going. ♪ >>> additional funding provided

joe: ed hyman, evercore isi chairman. awesome conversation, thank you for coming on. scarlet: coming up, we will the state of small banks and regional banks in the u.s. this is bloomberg. ♪ >> let's get to first word news this afternoon. inaugural festivities get underway at the nation's capital in washington, d.c. at a concert, the entertainers have taken the stage. in a short while the president-elect will be addressing the crowd. you can track donald trump's welcoming remarks there at live go. quite a crowd already forming. take part and observe the inaugural activities. but also protestors. quite a crowd already. we will f all of the events over the next 24 hours. in other first word news, president obama in his last major -- as his last act of commander in chief is cutting short 335 federal inmates convicted of drug crimes. the president has now commuted the sentences of 1715 people, more than any other president in u.s. history. steven mnuchin on capitol hill in his debut to become the u.s. treasury secretary. the former goldman sachs executive told senators t

julie hyman has the latest. looking at the fallout from the executive order he signed last week, which restricted travel and severalion from countries. the airlines suffering from that but suffering from the outage, the computer outage. flights are canceled. airlines are trading lower. >> thank you for that. more markets next and more information on that executive directive on immigration with bloomberg. live from bloomberg world headquarters in new york and london, i am vonnie quinn. >> i am mark barton. let's check in on bloomberg first word news. emma chandra has more from our new york -- more from new york. emma: a day after protesters jammed several airports, the president said just one hundred nine international travelers out of 325,000 were detained. they said president trump made reference to his new policy of meeting business leaders. president trump: we had a good day in terms of homeland security. we had decided to make the move. putor federal judges have part of the immigration plan on hold. accordin

dr mark hyman: how many of you here believe that eating fat will make you fat? in this show, i separate fat from fiction. in just 21 days, we will transform how you eat and feel on every level. give me 21 days and together we can take back our health.

-richard hyman, retail analyst: "i think it's going to be extremely difficult for retailers to protect themselves against price rises, against the impact of a devalued sterling. if you and i trade side by side on the high street in competition, my currency hedging runs out three months before yours does and i put my prices up-- guess where my customers are going to go? i think it's going to be extremely difficult to make price rises stick." the u-k also relies heavily on imports: clothes made in south east asia. technology from china imports which could become more expensive currently the uk enjoys cheaper trade tariffs as part of being in the e-u. if the country fails to reach the right deal with the bloc it+ will have to use world trade organisation rules, which come with higher tariffs. a bottle of wine could set you back an extra 14% and some analysts are predicting it will cost you an additional 12% to be en trend with the latest fashions. but are shoppers enjoying the january sales aware of the possible increases? man 1: "i have noticed that prices are secretly creeping up both o

julie hyman has a check. even thoughcials, they paired their earlier address, still remain in the top spot in the us and the 500. it's why the most heavily weighted groups, definitely help support overall stocks when it's rising. percentagewise at least, it's a regional banks, not the companies are reported earnings that are doing the best in today's session. while j.p. morgan and bank of america have come back a little bit, we are still seeing pretty substantial gains in companies like regions financial, keycorp, and fifth third bancorp. many of these companies set to release their earnings -- report their earnings next week. it's really since the election we've seen these companies outperforming. here's a chart here. the blue line looks as the regional banks versus the financial index, the white line is the regional banks versus the overall s&p 500. you can see that they want positive on that outperformance, in particular after the november election. outperforming the s&p 500, but outperforming the financia

wells fargo's upcoming, and i know our julie hyman has been on those calls with great insight. today'st's get more on big bank earnings and what it means. joining us in london, michael moore. julie has been listening in on the jpmorgan conference call. what was the take away? itie: the bank emphasized was a strong quarter and a strong year. little, the cfo and ceo, and talks about the coming change politically and what it could mean for their business, though they were very cautious in making any firm statements. give examples of what he thought could be improved through regulation. he said it would help if there was a simple flying of securitization -- a simplifying rules, thatation would be good, not just for j.p. morgan chase but good for the ui in states -- for the united states of america and the housing market, and good for the citizenry. a better taxsaid policy would be good, not necessarily only for companies, because companies eventually compete that benefit away, but rather it would be good for growth and the company in general. he emphasized, one and analyst about ba

anchor: i am julie hyman. we have this update for the markets. without getting above 20,000 for the first time. s&p and nasdaq at records as well. you kind of have to ask what triggered the rally. is thing people tell us clarity. the first week after donald trump office, he is signing quite a few executive orders. let's have the market open. trump following through with his promise about the wall, we are seeing stocks rise. in asia.tch of green taking a look at the markets that are open. new zealand up one third of a percent. inflation data from wellington, coming in faster than expected. higher, aboutning 125%. .e got economic data let's take a look at what is moving on that index. toshiba up 3%. checking in on the movers of the day. we do expect earnings out of -- later this day. the next is what is going on with china's industrial profits for december. we are going to see producer prices higher which could give chinese stocks a lift. mentioned we are waiting for some earnings. there are already earnings out. are there highlights? have a report

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

-richard hyman, retail analyst: "i think it's going to be extremely difficult for retailers to protect themselves against price rises, against the impact of a devalued sterling. if you and i trade side by side on the high street in competition, my currency hedging runs out three months before yours does and i put my prices up-- guess where my customers are going to go? i think it's going to be extremely difficult to make price rises stick." the u-k also relies heavily on imports: clothes made in south east asia. technology from china imports which could become more expensive currently the uk enjoys cheaper trade tariffs as part of being in the e-u. if the country fails to reach the right deal with the bloc it will have to use world trade organisation rules, which come with higher tariffs. a bottle of wine could set you back an extra 14% and some analysts are predicting it will cost you an additional 12% to be en trend with the latest fashions. but are shoppers enjoying the january sales aware of the possible increases? man 1: "i have noticed that prices are secretly creeping up both on

julie hyman joins us now. julie: strong start though not as initially. s&p 500 of as much as three quarters of 1%. it has paired that gain to some extent -- it has pared that gain to some

let's go to julie hyman. itse: the etf industry had biggest conference earlier this week. 2200 people gathered in florida. here to discuss some of the , our seniore quotes etf analyst at bloomberg intelligence. of these to some quotes. this is a huge conference. according to your first quotes, it is going to get even bigger. hitpredict etf assets will 25 trillion by 2025? 2025." it is big in the u.s.. about 20% of tells assets. he also have institutional assets. dive. did a deep if that goes up to 10 or 20, you are looking at an extra six or 7 trillion. then you get 10 trillion and mutual active funds. that's another boost. i think it is going to go up. definitely i think everybody is very positive. >> that also provides support to these various assets worldwide. >> we also have this major rally in the past seven years. market.ntingent on the >> president trump came up. swan -- black >> everyone is wondering how to position portfolios. how do you read around his tweets? the word from the wide -- word from the

., julie hyman with the latest.

julie hyman has been -- joins us now from the newsroom with more. the executives on the call have been answering questions mostly harvey schwartz was the chief financial officer and will be the copresident as gary cohen departs to join the trump administration. so he has been handling the call with randy sean evers who comes from the chief information officer role. background thought of bringing to the cf role as well. ,ike many of its competitors strengthening and bond trading revenue. fixed income currencies and .ommodities on the equity side there was more weakness. schwartz come on the call did say that there was one of. he said he would not read anything to this would not read onthing into this quarter the other hand he expressed optimism. he said there was second half thatism among client and there is be continuing into the early part of this year. when asked on the call, where you get -- he said it's a matter of conversation that their employees are having with clients every day around the globe and that they are seeing more positivity from t

julie hyman has the latest. julie: we are not seeing much action in the major averages, in part, because there is a lot of reaction to earnings. on the winning side, we have wynn resorts leading the gains, as it's newest property in macau listed their results in contrast with las vegas sands. kla, the chip equipment maker, new orders topping $1 billion for the first time. that is the good. on the negative side of the ledger we have the staffing company, earnings missing estimates. they say month to date placements are down 19%. afterproducts shares down second-quarter guidance came below estimates. also american airlines matched estimates. they say pricing power will come back but also say fuel sts will rise $1.4 billion in 2017. moving away from these individual companies, because we are talking so much about britain today, i wanted to look at the pound. the dollar overall has been falling overall against a basket of currencies, set for its fifth straight weekly loss. but the pound is lower against by half a, o

here is julie hyman. value stocks have been rallying so if you combine both? here to discuss small-cap value to remind people that only talk about smart data it is basically etf's that use various factors or criteria in order to form their strategy. so we are talking about small-cap value etf's. why have they been so attractive? >> you have a couple of factors here. a risk on rally so small caps tend to outperform. and then you have the trend towards nationalism and it is supposed to favor smaller companies that are less dependent on exports. and the value comes into play with a tilt towards value stocks. banks have been doing great anduse of rising rates hopes of possible deregulation. so you have the stars aligning. at 35% in's have been the last year and 12% in the last two months with acids growing to $27 billion under the radar. julie: what are the specific etf's that have benefited? eric: blackrock and vanguard are the two big ones. vanguard vbr is the kicker and vanguard is cheaper. the ishares tracks the value index and people love the russell two. peo

julie hyman? julie: the markets continue a pace with this big backdrop of political events. markets are moving higher. the stock market are moving higher. we have seen a more sideways movement after the initial push upward following the election of donald trump, we saw a sideways move heading into 2017. seeing all three major averages up .5% each. let's take a look back at the rally and compare it to some of the other recent presidents between a first election and their inauguration day. in modern history, the trump rally has been the best with the s&p 500 gaining 6% followed by president clinton with a 4% gain. president obama saw a 15% drop following his election. and president george w. bush for a 6% drop. clinton performing the best over the balance of his two terms followed by president obama. those first couple of months were not necessarily an indication of falling performance. politics aside, we got a lot a big earnings to report yet to talk about as well. general electric shares are lower. fourth-quarter revenue trailing analyst's estimates. procter and gamble relyi

let's have a check with the markets with julie hyman. julie: makes me think of matt miller. let's look at stocks. we have seen a pullback that is accelerating throughout the session. all three major averages are down. the nasdaq has been the outperform or, it is down ne

julie hyman is standing by with a look at the markets. >> in the fourth straight day

julie hyman joins us with the latest, a look at the markets. littlewe are seeing a bit of a gain building on yesterday's momentum and recovering from the declines we saw the last week of 2016. the dow holding onto a gain of 43 points as it continues to make steady progress towards 20,000. the nasdaq

. >> julie hyman is in washington. donald trump talking about the health care industry, saying there will be a repeal and replace of the affordable care will happenis essentially simultaneously. what were you seeing as you watch the markets during the course of that news conference? julie: i the same time there were these macro moves in the markets and stock and sector moves like the one you are talking about within health care. we are not seeing much changes in markets right now but that doesn't really tell the full story. if you look at the s&p 500 over the course of the past hour and a half while we were hearing trumps speaking, you get a lot of volatility here. stocks holding steady than dropping off in the middle or so of his press conference. the s&p 500 has now rallied by around 6% since the election, in part on the hopes that we would see this administration introducing new fiscal stimulus, reducing regulation, introducing other, more business friendly or what are viewed as more business friendly measures. none

trading session, julie hyman is here with the latest. julie: the rally continuing into its second day. we tend to see a flip on the first week of trading on the new year from what we saw last week of the last year. we could see an up week this week of the last -- if the last five years are any indication. rally, buta runaway we are seeing gains. i want to talk about auto sales this morning for the united states. they were largely better than estimated. gm sales, more than double what analysts are estimating. for reporting an unexpected gain in sales of 10%. fiat, although its sales fell 10%, analysts were predicting a steeper decline. all of them better. fiat still trading lower. gm and ford a gain of more than 3% here. it looks like we could surpass last year's hurt for annual sales, up 17.5 million vehicles. been an interesting phenomenon of people holding on to their cars longer. this is a monthly sale, which is why you see spikes look like the numbers were higher in the 2000s. backve seen a slow climb but people are holding onto cars