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tv   Bloomberg Markets Americas  Bloomberg  July 15, 2019 1:00pm-2:00pm EDT

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about how great al qaeda is, that was omar. how great al qaeda is. when you hear that, and we are losing great soldiers to al qaeda, when you see the world trade center get knocked down and you see the statements made about the world trade center, all of the death and destruction , i tell you what, i'm not happy with them. it is very easy to say, it is ok. ,f we politicians want to say and the democrats in this case, if they want to hear their wagons around these four people, i think they will have a very tough election. i don't think the people of the united states will stand for it. >> [indiscernible] does it concern you that that tweet was seen as racist?
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lindsey graham encouraged you to aim higher. >> he just said -- i disagree with lindsay. he is a congressman. what am i supposed to, wait for senators? so i disagree with lindsay on that. he said a higher. what am i going to do, wait until we get somebody in a higher office? these are people that hate our country even john, they hate our country. i think, with a passion. it is possible i am wrong. the voter will decide. when i hear the way they talk about our country, when i hear the anti-semitic language they use, the hatred they have for israel, and the love they have for enemies like al qaeda -- >> where are you suggesting they go? >> i do not believe this is good for the democrat party. certainly not the party that i have known over the years. does it concern you that many
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people saw that we as racist? and that white nationalist groups are finding common cause with you on that point? >> it does not concern me because many people agree with me. they want to leave, they can leave. it doesn't say leave forever. it says leave. john, what that says is, if they are not happy with the united states, if they are doing nothing but criticizing us all the time, you see these people walking down criticizing the , we justtes -- states hit the highest stock market in history. manufacturers, these are great business people, they employ many people. we have workers with us too. they are having the best year they have ever had. is that a correct statement? and they are hiring more people than ever. more people are making a good living than they ever had. we just hit 27,000 plus on the dow. the highest stock market has
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ever been. you have to go by the election. the market started going up the day after i won. they like to add all of that tremendous gain, try to give it to obama. the fact is, if i would have lost, the start work at would have crashed. if these people that i watched in those debates ever got their hands on the united states government, 401(k)s, the values of your company, everything else we talk about that we are proud of, it is down the tubes. people will lose their money, they will lose their wealth, you will have a crash like you've never seen before -- and a really good about this stuff, i know what i'm talking about. thank you all. >> ice raids raids, why did they happen like you threatened? was that just to scare people, mr. president? >> the ice raids were very
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successful. people came into our country illegally. many were felons. many were convicted of crimes. ony, many were taken out sunday. you just didn't know about it. in fact, i spoke to the head ofice, i spoke to a couple people. it was a very successful day. but you didn't see a lot of it. speak to them. i'm not even sure they should be telling you but it was a lot. it would have to be sunday. we have been removing m3-13. ms 13. they are monsters. i tell my people, much easier to go the other route. i say focus on the criminals. focus on the people that are killing people, causing crime. much user just to go to general population. that is easy. i don't do it the easy way.
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we are getting tremendous numbers of criminals. yesterday it was reported to me, yesterday?go and didn't have to start yesterday. the truth is it started before but yesterday was successful. people come into our country illegally and they go out legally. every person taken out had papers and we had court orders. ok, thank you. why the asylum changes, mr. president? >> mr. president, how are those tweets not racist? been listening to donald trump listening outside the white house, following the third annual made in america product showcase on the white house lawn, asked about the tweet over the weekend which targeted four congresspeople. he was responding to questions about the so-called squad,
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progressive part of the democratic party. he says they hate this country. he says they are people that hate our country, they hate it, i think, with a passion, they talk about the hate for israel, love for al qaeda. he said he didn't think it was good for the democratic party. the main headline was if you are not happy, you can leave. they are free to leave if they want. he also spoke a lot about representative omar, saying that she praises al qaeda. also mentioned alexandria across your cortez, saying that she was amazonible for keeping out of new york. also talking about the ice raids, going on for several days but sunday was successful and that we have been removing ms 13 "by the thousands." again, he praised the stock market and performance of the economy.
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halfway into the trading day, let's get to taylor riggs. taylor: you are seeing some of the negative sentiment filter in through the broader averages. we welcome this morning, kicking off the earnings season. looking for second-quarter earnings, a drop of 3.3%. some of the negative fundamentals filtering through to sentiment. that means you are getting a risk off tone with 10-year yield now down three basis points below that 2.10 level. is kicking how that off everything we are talking about today, banking stocks. citigroup and goldman sachs leading the decline. citi cost cutting their way into a profit, highlighting the struggles about equity trading. in q3, that number looks to be worse on a year-over-year basis. goldman sachs on deck this week. regionals as well hit just as
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hard by the equity rate cuts. "and deposit growth can offset that. some concerns in the market today. if you come into my terminal, this is my chart for the year. as you can see, in white, it is all about record highs on the s&p 500. then the divergence within bond yields. typically, you either sell bonds to buy stocks. both of these are going into bonds. i am waiting to see who blinks first. speaking of, i want to look at crude. we are below that key $60 a barrel mark. there are some technical reasons and you are seeing some selling, but a lot of this is weak growth , particularly out of data from china last night, second-quarter growth coming in lower than estimates.
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you are getting opec warning about a 2020 glut. today the demand concerns shrugging off any of the supply boost we were getting, and that means crude as well is lower today. vonnie: thank you. of bank earnings, joining us now is allison williams. we have been talking about and how the at citi results were broadly in line, a little bit of disappointment among analysts on the street. what is the readthrough for the rest of the week with the major banks? >> to your point, i thought the quarter was fine. a couple of the metrics it is difficult to say they will directly filter through to the other banks. net interest margin was disappointing, something we expect to see in others, but the drivers in citi tend to be different. they have a bigger card business attempt to be more insulated. more focus on the u.s., more exposure to global .ates than others
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at the margin, the change has been in the u.s. to the extent they disappointed, it is something people are looking at. a rise in the deposit cost, specifically a lot of focus on that. we will hear more about that from banks. the bottom line is they reaffirmed their return on tangible common equity. that is a key metric for the company. despite the fact that they have the revenue headwinds, they are cutting costs. the call, certainly, analysts seemed skeptical. when i think about citigroup, i think about, december was really difficult. they missed their target in december and a lot of that was because they implemented new measures that were not going to take place fast enough, but we should see some of that benefit in the second half. vonnie: landscape for the rest of the year, some of deutsche banks'businesses are in play. are we going to see some grabbing of market share? >> the equities business has
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been a focus for them. citi has made some rise in the ranks to do that focus. i think they are looking to more -- to get more gains in the business. we will hear more about that from j.p. morgan and goldman tomorrow. it should be noted there equity trading missed estimates, so that is a negative ahead of the companies tomorrow. they also talked about the fact that corporate client business in the derivatives businesses holding a better. that is relatively more negative as well for goldman because the is that the institutional side is weaker, and that is the part of the client makes that is more important for goldman. vonnie: thank you. coming up, symantec and broadcom: opera proposed merger. deep dive into what happened. this is bloomberg. ♪
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vonnie: this is bloomberg markets. symantec and broadcom have halted discussions for a proposed merger. the two sides could not agree on a price. it is more nuanced than that, and we will get to that now. it is not quite that they could not agree on a price but according to reporting, due diligence was looked at again and was found to be lacking and therefore broadcom try to take down the price. >> this is a darned if you do, dark if you don't. had aec has not continuous ceo for the past four years. it currently does not have a ceo, cfo. there has been some accounting
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challenges in a business that has some structural revenue growth issues. symantec is not a power player in the business anymore. on a relative basis, not the cleanest money assets can buy. hand, they have an opportunity. if anybody can turn this around and extract synergies out of it, there is an opportunity for them to do it. vonnie: why would symantec play such hardball? apparently the price difference was not massive. would it have been so awful to take a lesser price? >> i think maybe the deal perhapsed earlier then either party liked. one party seem to feel like they have an upper hand in negotiations. both have alternates. from the broadcom perspective, they can look at other software assets that are potentially cleaner, that they can integrate
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easier. on the other hand, it may have less synergies. may not be able to extract as much cost. samplerther hand, our analyst has been saying, other companies have gone private. symantec may not get the price to go private that these other companies have because of the issues with the company. in both cases, they have alternates. is broadcom potentially in a better position relative to symantec? we think so. vonnie: i don't think this is the end of the story. thank you for that. meanwhile, china's economy has hit its weakest pace since quarterly data began two decades ago in 1992, amid the ongoing trade war with the u.s. and china. president trump took credit for the soft data, writing in part, u.s. tariffs are having a major impact on companies wanting to leave china to non-tariffed
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companies. this is why china wants to make a deal. let's welcome our deals reporter damien says hour. and from london, we have george magnus. great to have you. what did you make of the softening in china data, something to be concerned about, or can china manage this very easily. ? >> as usual, the devil is in the detail. everyone expected the growth rate to drop him where it had been in the first quarter of 2019. we all know that there is an official data series of gdp, carefully manicured. it does not really convey any information about the volatility or fluctuations that are going on in the economy. basically is we know the economy was quite weak in the end of 2018, that if
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stabilized in the beginning of march and but then in april, things started to go awry again. like there was a pickup again in june, but it is too soon to be tell whether this is anything other than noise. actually the headwinds facing the economy are quite considerable. vonnie: what is your base case for how the trade war progresses and ultimately how it impacts the two economies? george: the politics on both volatile and it is always possible that there could be some kind of -- i say agreement, but i mean agreement like inverted quotes. it will not solve the fundamental problem, which is norms ofbout standards,
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industrial behavior, technology policy. it is possible that, for political reasons, both president trump and president xi jinping may want to have some kind of agreement that they can call a deal, but it is not really going to solve the fundamental problems. a are set, in my view, for protracted period of attention, which will be part of the commercial, but will spill over into other things as well. vonnie: i want to bring in damian sassower and ask how asset are reacting to this data overnight. you heard when george had to say about how this progresses, a lot of uncertainty. is this big in? >> the markets were prepared for it, that is what we saw. if you look deeper into the high frequency retail sales, ip data, retail sales, everyone says it
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is a blowout number. within the data, you find a lot of it may have been inventory rebuilding in auto sales. auto sales haven't fallen off the cliff in the past two years. to see that uptick in retail, it is a high volatile number, so you cannot put that much faith into it. it is hard to put confidence in the china data coming out, but from an export economy to rely consumption and growth, it will take more time than the markets are dissipating. ofnie: how does the balance power play out over the five -- next five or 10 years? does the u.s. hold onto power? we have china, one set of negotiations, the u.s. and china, but all of the other countries surrounding china, southeast asia, trying to benefit in the trade war with the u.s.
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it is interesting. earlier in the package, you were talking about companies moving out of china. there is one thing, which is there are some winners and losers in this. it is not all bleak for everybody. according to surveys done by the american chamber of commerce in china, also the european chamber of commerce, and also some private research organizations, that roughly a third afford companies have already made tons or implemented plans move some of their supply chain operations away from china as a direct consequence of their view ar has plantedf w deep roots. another third of companies surveyed in these inquiries by chief financial officers and other corporate executives seem to indicate there is quite a lot
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more coming. unfortunately, i don't think the united states itself will necessarily be a beneficiary. a lot of these companies are moving operations to mexico or northern asia, where the political stability looks more secure, where infrastructure is high. it doesn't necessarily mean that everyone is bailing out to go to vietnam and cambodia, although some companies are going there. this trade war will have quite a pernicious effect in my view on where companies locate, and clearly, some countries and sectors will be benefiting as a consequence of new flows of f ti. having said that, the overall impact of the trade war, we can already see this in trade numbers. it is depressing the level of speaking,erally including for many countries in
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asia. it is not good. what are thee, next tools for china, what will president xi jinping do? one of them was a bunch of layoffs at huawei in the u.s. there will be layoffs here and eventually in china. jinpingpoint does xi get to his next toolkit, and what is the toolkit? has runobviously, china out of room to basically hit at any further initiatives the u.s. administration may take with respect to tariffs. pretty much all of america's exports to china have already been subject to punitive tariffs . soon after the commerce department in the u.s. published this entity list of companies that would go on to this list from which u.s. companies by and
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large would be banned from selling components if it was a threat to national security, the chinese published -- said they would announce -- their own ,ersion, their own entity list companies that were harming chinese national interest. is, ifger i think really the situation cannot be stabilized between president jinping, president xi companies will be drawn into this, not just u.s. and chinese companies. vonnie: thank you so much, george a. magnus. also thank you to damian sassower. this is bloomberg. ♪
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mark: i'm mark crumpton with bloomberg first word news. hisident trump is defending weekend tweets about four democratic congresswoman. speaking today, the president denied his tweets were racist.
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fouren he said the democratic congresswoman of color should go back to the " broken and crime infested countries they came from." >> if you are not happy here, you can leave. that is what i say all the time. that is what i said in a tweet which some think is controversial. a lot of people love it, by the way. if you are not happy in the u.s. , if you are complaining all the time, simply, you can leave right now. come back if you want, don't come back, that is ok, too. mark: all four of the lawmakers that president trump was addressing on twitter are american citizens and we were born in the u.s. european union nations are throwing their diplomatic weight behind the unraveling iran nuclear deal in an effort to keep the pack from collapsing under u.s. pressure. eu foreign ministers want to get iran to respect the terms of the deal again. that was the focus of their
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regular monthly meeting today in brussels. >> we will see how we can together with the member states and also with the rest of our international partners, preserve the nuclear deal with iran and put in place all the measures so that iran can go back to full compliance, as it has been until a few weeks ago. are: while the eu nations looking to deescalate tensions in the persian gulf region they also blame the trump administration for quitting the landmark 2015 nuclear deal last year, and for imposing sanctions and trying to keep european nations from trading with iran. after months of delay, president trump is expected today to nominate a successor to jim mattis as secretary of defense. italy mark esper, who has been serving as acting secretary since june. patrick shanahan abruptly quit after serving as the acting surgery for six months. the world health organization is meeting in geneva today to
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decide whether the continuing ebola outbreak in congo warrants being declared a global emergency. the agency says the spread of the disease into the city of goma is a potential game changer. the latest outbreak has killed 1700 people, mostly in congo. global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. we are now joined by our bloomberg and bnn bloomberg audiences. shery: making bank.
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consumer division posted strongest quarter since 2013. the rest of the u.s. banks are set to announce over the course of the week. went to the fud cuts mean for the banking business. china's economy slows to the weakest pace since quarterly data began in 1992 due in part to the ongoing trade war with the u.s. we look at how u.s. companies are being affected by the slow down. and we take a deep time into amazon's new prime day strategy as a kicks off its two day megaevent. let's get started with a quick check on where the averages are trading. a little bit of pressure for major equity indices, with energies and financials leading the declines on the s&p 500. investors now focusing on second-quarter earnings. ticking off the season with a mixed bag of results, with trading revenue missing estimates. that put a lot of pressure on
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the s&p 500 banks index, with its 19 members being dragged lower with citigroup leading the declines. although, focus on one stock we are also watching, broadcom. at one point, rally more than 3%. we had news reports that it was going to dissolve talks to acquire symantec. thatedbush analyst saying that would be an uphill battle for symantec to prove its valuation to wall street. symantec falling in the double digits at the moment. we are talking about pressure in the broader markets. we still have to put this into context given we saw two sessions of record highs for u.s. stocks. amanda: amazing to see those records. inside the terminal, three of the biggest etf shares that track the s&p 500. last week, the volume of inflows above $6.2 billion. we are definitely seeing an all-in mentality here, as
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investors play catch-up and get back into equities. it will be very dependent on where earnings go from here in terms of sentiment, but interesting shift of let's get back into the markets as they hit record highs. shery: especially if you are pricing and potentially more fed rate cuts. a lot of uncertainty when it comes to the geopolitical fear. just a few minutes ago, we had president trump speaking about -canada deal, usmca, saying it is all political, and that xi jinping is still a friend but probably not quite as close now. also touting the steel tariffs as having saved that industry. uncertainty will be a word that pops up in earnings calls. we heard from citigroup. they topped expectations for the
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second quarter, so technically a beat on the corner but there was weakness in the capital markets business. some revenue gains due to the ipo of trade web. cfra research is with us now by phone. also with us is finance reporter michelle davis. ken, we definitely saw a mixed reaction to these earnings. we knew and that interest margins would be under pressure. in terms of what else the market is interpreting about citi, a low earnings quarter, could we say that? >> from the standpoint of total net revenue, it could be better, obviously there is pressure because of lower rates. capital markets is a major factor. is banks like citibank, it 2220% -- 20 to 25% net revenue. we are coming off of a great june performance.
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the federal reserve off of these stress tests, gives them substantial return of capital, $21.5 billion. shery: there was some initial enthusiasm in the second quarter but that was short-lived, given it had a lot to do with the one-time gain. >> we saw this in fixed income with the ipo of trade web. when you take that out, fixed income trading was below analyst estimates. odds are the banks will see something similar. jpmorganon mentioned had a gain in fixed income, so it is likely, if this is the word that citi, it is likely that we will see similar trading results. this will be the fourth consecutive quarter of losses on wall street. amanda: we did have a bright spot for citi on the consumer division. how relevant, important is that, that they could show that this quarter? >> consumer banking was
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positive, strong again in the card business. retail consumer banking was very good as well. we are seeing, particularly in the u.s., very healthy spending from consumers, other fixed cost mortgages that are lower. this continues to be a core engine for citi. free,singly on jogger retail banking was strong in mexico, latin america, and asia. shery: let's talk about the macro economic impact. a chart on the bloomberg right now showing how many rate cuts are priced in. we are pricing in a rate cut for july, and there could be 2.5 cuts priced in for the full year. well banks have to lower their expectations for profit, given this is not the outlook coming into 2019? a bignot going to be engine boost for city every 25 basis points down, roughly $50
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million related to net interest income. , these banks are gaining market share, growing in ther accounts, institutional business particularly from european banks. on the consumer side, so long as we have a strong u.s. economy, we are seeing increased accounts there. they are forecasting at citi, second half will show positive net interest revenue growth. amanda: michelle, one thing we want to do, despite the fact that big banks are very different these days, but extrapolating into what else we may see as we get into bigger earnings. what do citi's tell us about what we may see? >> the big read through tomorrow with jpmorgan and goldman sachs is probably seeing weakness on the trading side. that will more than likely affect goldman because it doesn't have as diverse of a
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revenue stream compared to jpmorgan. it is the strength in the today, andnk at citi we are probably looking at some gains in jpmorgan, weakness which is already telegraphed in terms of trading. revenue fromo saw m&a slumping 36%. would you say this was more citigroup specific or reflected of the barter market? >> broader market. this is the whole global beer wars.rade tariffs, ceo confidence will come out soon for the first half. those factor in a weak outlook for m&a. you have to be careful here. goldman, morgan stanley, jpmorgan, they are having terrific m&a activity in the u.s., fallen off obviously in europe, as well as asia.
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one other thing on earnings for tomorrow with goldman. they will probably hit their earnings even with the week trading, i think. they will have things related to principal investing, lending, which has always been their ace in the card when the capital markets are not strong. we are starting to see weakness in some markets. for jpmorgan, that was in asia. how much of that speaks to sentiment? that seems to be the big debate. was this a mispriced or misallocated deal? good question. it is something that they talked about on the citigroup call today. they said some of the weakness in their banking pipeline came from consumer sentiment from the ceos related to trade, tariffs. shery: michelle davis, thank you so much for that. also thank you to kenneth leon.
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coming up, china releases economic data that is sending mixed signals. we will discuss how the numbers may affect the performance of u.s. companies exposed to the country. this is bloomberg. ♪
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shery: this is "bloomberg markets." i'm shery ahn in new york. amanda: i'm amanda lang in toronto. china's economy has not grown this slowly since at least 1992. gdp rose 6.2% in april tear june period, a number that most would be happy to see but a three-decade low for beijing. data underscores how much pressure chinese policymakers are under as they
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try to renegotiate the trade deal with the u.s. for more on how that slow done may affect companies in which was are most exposed, we have our economics editor peter coy. we know that there is friction, showing up in the data. we have seen some big moves by companies to get out in front of this with supply chains. are we getting a sense of where the damage will fall? peter: as you pointed out, this was a bad number from china, not unexpected, though, down from a 6.4% year-over-year growth rate in the first quarter. there were numbers coming out in june that were relatively strong, retail sales, output made people think that maybe it is not all that bad. bloomberg intelligence is actually looking for gdp in china to be growing below 6% by the fourth quarter, and then continuing at roughly 5.8%
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growth in 2020. this is starting to look more like the new normal. that is why your question is the right one, what does this mean for american companies? even if there are not new tariffs, the ones that are in place are biting. the automakers, for example, are feeling it. earnings for the second quarter gm onord on july 24, august 1. we will be watching closely to see how china tariffs and how the chinese domestic economic slowdown affect those two to view a car companies for starters. shery: when you look at the chinese economy expanding by sector, you see slight differences. this chart on the bloomberg showing the white line, which is raw materials, mining, agriculture, which is growing, but then you have manufacturing in blue, which is falling. would it be different for the
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companies that operate in china, depending on what sector they are operating on, how badly they get hit? i think so. it depends partly on the domestic economy but also what products are being hit by tariffs. for example, apple has been largely able to escape the china tariffs and the agreement between trump and xi that was reached at the g20 summit in japan seemed to give another reprieve to apple. they are probably relatively happy. boeingle, a company like is in the middle of negotiating -- according to sources who talked to bloomberg -- a huge order for wide-body jets from a bunch of chinese airlines. sensitive toedibly making sure these trade talks don't turn out bad for boeing. interesting when we put up the percentage of sales for
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some big american companies like apple, intel, china remains a hugely important market. there was that bright spot on retail sales, factory out. chinese consumer confidence will be a question mark. can we separate that from the noise on trade, is there hope for these companies that have so much of their business there? micron, 57%, separate from the trade tensions. peter: micron, a lot of that is huawei. micron is definitely suffering from this. china reported last week that is overall exports to the world were down a little over 1% , to the u.s. down 7% over the year. there is suffering on both sides. the lack of access to american products and also not being able to sell to the u.s. and the rest of the world.
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his goes back to the bigger picture we have talked about many times on this show. both xi and trump are sizing up their own wherewithal. which country is in better shape to withstand a trade war? it will be damaging to both but naturally they are thinking, if it hurts the other guy more, maybe it is worth to me. shery: what does this mean for all the economies that rely heavily on china? even with policymakers trying to boost things, the formula has been so different from the past. peter: one thing china has done recently is putting through a tax cut of nearly $300 billion. that is starting to filter its way through the economy. we are seeing required reserve ratios for banks, lending coming down, which could also help to stimulate lending. you were telling me there is a new report out that they may cut the key lending rate. shery: bank of america and merrill lynch expected to be low
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cuts in the lending rate. right. china has a lot of levers to pull to keep the economy going. some are better than others. is just interest spending over debt, that is not good. a lot more to be seen on this one. shery: thank you so much, peter coy. the latest on china. coming up, this year, amazon is celebrating prime day with a little help from hollywood. how the e-commerce giant is using star power to increase buzz amid increasing competition from rivals. we will go to that story next. this is bloomberg. ♪
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amanda: this is "bloomberg markets." i'm amanda lang in toronto. shery: i'm shery ahn in new york. discounted pressure cooker's and gadgets are not enough for amazon to stand out anymore in the competitive retail space.
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the company now tapping kobe bryant and other celebrities to create buzz for prime day. in theiring mainstream marketing techniques. what is happening? >> an interesting phenomenon. prime day is now in its fifth year. historically, amazon would use the event to tout its own devices like the echo speaker, then a big emphasis on groceries after they acquired whole foods. they are leaning on celebrities this year. when you look beyond that, there is nothing new or novel amazon so to promote for itself, instead is leaning on the celebrity star power to drum up interest in the day. you mentioned kobe bryant selling deodorant. mark wahlberg selling protein powder. sensations selling colorful hair bows.
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techniques,ditional something that their competitors are already doing. items ones pushing amazon already have deals with target and such. a hair bowill wear when you do, spencer. if we measure this by media impressions, amazon wins. we're all talking about it. how should we measure it, sales, profits? >> great question. in terms of the media buzz, they were doing well. 12 billion impressions is on par with the pairing of "stranger h&m which is selling some 80's-style clothing around that. in terms of the success of prime day, it is always about getting new prime members to sign up, and retaining existing members. that is really the value. beyond the sales of the day --
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and you are right. a big sales day, you are just borrow tomorrow's revenue today. the big thing is how many prime members we sign up. two or three times as much as nonmembers on amazon. the big business is locking them into get that big spending going forward. tell us a little bit about the competition that amazon has seen from rivals. wal-mart said, amazon is doing a two-day sale, so we are going to do a four-day sale. they are starting the day before prime day, ending monday after. bargains on whenever junk you need. specifically having a computing sale on the same days as prime day. the most interesting was ebay, where they did their crash sale, kind of mocking amazon's web
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glitches last year. a lot of customers frustrated. ebay launched a crash sale, crashes, jumpazon on over to ebay and check out our deals. they even had a commercial poking fun at prime day, saying they are selling a bunch of junk. see the real things on ebay. amanda: always great to have your thoughts, thank you. a quick reminder, you can catch all of the interviews on the bloomberg. the function is tv . from toronto and new york, this is bloomberg. ♪
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i am mark compton with bloomberg's first word news. nancy pelosi says she will call for a vote on resolution condemning president trump's attacks on four female democrat lawmakers.
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statement, the caucus will continue to forcefully respond to these disgusting attacks. the president defended his tweets in which he called for the women to go back to the " broken and crime infested country" they came from. all four are american citizens and three were born in the united states. in new york, lawyers for jeffrey epstein argued today he should be released on bail. but prosecutors say the financier is worth $500 million and is a danger to flee. they say several more women have contacted them to say epstein abused them when they were underage. the judge will rule on thursday. than one footmore of rain has fallen prompting new flash flood warnings in that state and mississippi. today's rainfall was among the heaviest so far after barry struck louisiana over the weekend. the storms o

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