sachs as you covered earlier he's had another advisor work for goldman sachs, it contradicts the rhetoric he's trying to achieve in the campaign. i think there's also been a lot of talk about candidates across the preliminary spectrum about closing the carried interest loophole which allows warren buffett to play olower tax rate than his secretaries. one of the reasons it has disappeared from their website. >> carrie levine what's the difference between personal money that i go home and check my personal checking account balance and write a check to my favorite candidate and firm money, interested in giving from one campaign to another? is there a difference? >> often, companies have more money. >> i'm going to stipulate that acme has far more than i do. go ahead. >> individuals give to campaigns like many people do, that's one way to do it and then there's political action committees which are controlled by a company or a firm and which also give contributions. so moist of the time when you talk about lobbyist bund lers supporting a campaign or people like wayne berman they are technical

turning to the democrats, hillary clinton getting pummeled over her talks to goldman sachs. >> i think is question of donations to the clinton foundation. it underscores that drip drip concern that people have about hillary clinton in the clinton business dealings, in the wheeling and dealings and the personal server email >>> what is responsible for that drip drip. is it hillary clinton, her problems or is it, as she says, the vast right wing conspiracy that is always targeting her? >> i think it's always going to be a combination of both. her enemies are going to go after anything they think is fair game. i think in this case bernie sanders has her scared out of her daylights. she actually assumed all the women vote was going to her. i think what was interesting with that gloria stein statement that chicks - i think that was the word - are going it the burn because that's where the dudes are. it is i such an 1980 statement. young women, like my daughters, are going to go to hell if they don't support a sister. i think it is just a kind of a 1980s feminist view that the world has evol

sachs dropped 6%. most tech stocks got hammered. volkswagen says it will offer compensation packages to its u.s. owners, an overwhelming majority will probably accept the offer. compensation funds for 9/11 attacks the bp oil spill and the gm ignition switch crass crash crashes. volkswagen has not decided whether to offer buy backs or compensation packages. >>> the world health organization is so unprepared for a sudden outbreak of disease that thousands could die, this comes as authorities scramble to contain the outcome of the zika virus. the ebola outbreak in west africa killed more than 11,000 people. the whr world health organizatis emergency response capability are woefully inadequate. >>> lawrence gostin is the director for o'neil institute for the national and global health law in georgetown, also a special advisor to the united nations. doctor very good to have you with us. the u.n. report also says this is last opportunity to ensure that the w.h.o. is empowered to build emergency response capa

sachs. >> if you get $250,000 it must be afternoon excellen an excelld therefore you should release the transcript of thatranscript of . >> i'm an optimist i want to believe obama too, people wrote limb off and look at what he was able to do. >> bernie sanders says he is ready for a drawn out fight for nomination but super tuesday and the contest in the next two or three weeks could decide whether that fight will be worth it. >> today, secretary clinton play have won some votes from a tv syriza. tony gold 1 says he picked clinton over sanders because he gets things done. he called her tireless in her efforts. >> we all need to fight as hard for hillary as we know she will fight for us when she gets behind that desk at the oval office, the one i pretend to sit behind in my day job. >> i was in los angeles not long ago around i went over and looked at the set that they filmed scandal on and boy was it realistic. >> clinton says carrie washington will perform commercials for her. >> bill clinton responded to the questions about the benghazi attack. >> may i answer? i'm no longer comman

is she too close to wall street banks like galledman sachs. >> why is there one like goldman sachs. why is there one standard for me and not everyone else. republicans think and have said that the cause of the great recession was too much regulation an wall street which is a joke. >> she hay be ahead among vital african-american voters, but clinton took no chances, asking mothers to stand up. >> racism, along with educational issues and the rest, have to be addressed. otherwise, you know, we'll never be the nation we should be. >> and the sit department emails, the topic won't die down. clinton asked to defend using an internet server in her own home. >> i turned over 55,000 payments of emails, no one in a cabinet position has been as transparent or open. i'm not worried about it >>> worth making a point that african american voters make up half of the vote. hillary clinton is sticking around, campaigning tomorrow. for most of the week she leaves town. she's going to other says ohio on thursday, an indication of how far ahead in the polls here hillary clinton is. >> john terrett in

is she too close to wall street banks like goldman sachs. >> why is there one standard for me and not for everybody else. i have a record. it certainly is far different from the republicans, because they think and have said that the cause of the great recession was too much regulation on wall street which is an absolute joke. >> reporter: clinton asked mothers who lost their santas gun violence to stand up. >> reporter: racism, along with educational issues, and all of the rest, have to be addressed, otherwise we are never going to be the nation we should be. >> reporter: and those state department emails, clinton was asked to defend using a private internet server in her own home yet again. >> i have turned over 55,000 pages of emails, nobody in any cabinet position has ever been as transparent or open. i'm not at all worried about it. >>> lincoln mitchell is the national political correspondent of the national observer, and joins us now. both hillary clinton and bernie sanders seem to be making an effort to court the african american vote. but their tactics are a bit different. what

. >> clinton forced herself is she too close to wall street banks like goldman sachs. >> why is there one standard for me, and not for everyone else. >> i have a record. it's far different from the republicans, because they think, actually, and have said that the cause of the great recession was too much regulation on wall street, which is a joke. >> she may be ahead among vital finance minister voters. clinton took no chances. ask the gun violence to stand uch. >> racial issues have to be addressed. otherwise we are never going to be the nation we should be. >> and the state department emails, the topic will not die down, client asked to defend using a private internet server in her own home. it turned over 60,000, nobody has been transparent or open. i'm not worried about it. it's worth making the point that african american voters make up half the vote and will do on saturday. hillary clinton is sticking around, campaigning for most of the week. bernie sanders leaving town. an contact of the lead in the polls that secretary clint has. >> the president call -- marco rubio says peopl

invent banker, goldman sachs, clinton received $675,000. and sanders has leveraged the issue in campaign ads. on wednesday night during a cnn town hall, clinton was asked about her ties to gold an sacks. >> did you have to be paid $675,000? >> well, i don't know, that's what they offered. every secretary of state that i know has done that. >> reporter: but not every presidential candidate has given those kinds of speeches, and federal campaign contributions underscore that clinton and sanders have vastly different wall street relationships. o'underscoreing the financial services sector accounts for 12% of clinton's contributions. and for bernie sanders' campaign, the ratio is one-tenth of one percent. and the clinton and sanders plans are also very different. sanders wants to break up the biggest banks, tax wall street transactions and strengthen government regulations. >> if wall street does not end its agreed, we will end it for them. [ cheers ] >> thank you! >> reporter: clinton would not break up the biggest banks. she said that it woul

money from goldman sachs, $675,000. she was asked about it last night at the town hall, and she said it was offered. that's created raised eyebrows, we should expect to here about that as well. >> lisa stark, thank you. tonight sanders is expected to hammer home a frequent theme, a tie to wall street. david shuster has that. >> reporter: in new hampshire for bernie sanders, it's been a huge theme. >> together we are going to create an economy that works for working families and not just the one". >> by 1%, santers means wall street. and the nation's powerful banks. he says their greed is out of control and the political influence must be reined in. >> the story is that the business model of wall street is flawed. the story is that wall street has unlimited sums of money to spend in any way they want. including campaign contributions and speakers fees. >> three years ago, for free speeches, clinton received 675,000 dollars. >> sanders leveraged the issues. >> on wednesday night during an cnn town hall, clinton was asked

goldman sachs are saying that on the back of this information from last week they are forecasting shale production to drop by 425 thousand barrels which is more than they thought earlier. >> a quick caution is that a 60% drop in u.s. rate count and production remains there 9 million barrels per day. numbers of rigs shifting toward the most productive rigs -- >> that's because we americans are efficient folk. >> ok, we're not starting that discussion this morning on countdown. ryan chilcote and send the french, thank you for joining us. at britain's eu negotiations, we will speak to the city of london's corporation's chairman who is fearful of a brexit. ♪ manus: it is 6:50 here in london and 7:50 in bloomberg. caroline: hsbc has decided to keep its global headquarters in london saying that the u.k. is an important angle of the connected economy. the decision was passed unanimously at the board meeting on sunday. hsbc has been there for 23 years and says her mating there is the best option for those customers and shareholders. thanks are taking a hatchet to their bonded trading and the

goldman sachs is saying, forget about it. with the fed raising interest rates three times this year, gold won't see this rally extend? history ofook at the the fed over the last four tightening cycles going back many decades, cold weekends going into the tight ink cycle, but when it occurs, it has a tendency to gain. betty: why? james: like it's our anticipatory. if you sold in anticipation of rate races, you would begin to reverse your position when the rate rises start. betty: what is the case for gold other than fear? there is a longer-term fundamental issue, which is the shift in physical demand. not investment demand, but physical demand into the far east and india. when you drop below $1100 am a you get an increase in the price-sensitive buying. that has been putting the floor on the market. below $1100. below 1000 percolate $500. we have central bank buying and less recycled in the market. depending upon your long-term year hours, for this is that the dollar will weaken a little to the euro, that would give you a bulli

jeff is head of commodities research at goldman sachs and makes the case in his latest note. it is kind of counterintuitive. what is behind your thought? jeff: nothing to fear but fear itself. what has been driving markets over the last 2-3 weeks has been fear, fear over it negative and restraints, fear over what is happening in china, fear over what is happening in oil. if you look at the facts, whether or not these events are systemic, it is difficult to make the argument. if we begin with negative interest rates, there are two channels, one through european banks, but it can't given the fact that the emergency funding facilities provide enough capital to keep liquidity relatively high, even against high capitalization. what about the u.s. potential going into recession and forcing the fed to considered negative rates? again, unlikely. betweenomists estimate 15% and 20% of a recession. that is low on a historical basis. what is driving that view? a strong labor market, 231,000 jobs created each month against 85,000,even around keeping unemployment stable. you would have to

goldman sachs and citigroup also building on friday's gain. i mention oil prices. let's look at oil now. we have seen the rally earlier --ay on the city to for decision to freeze production by saudi arabia and russia. we will talk more about that in a moment. were hopes, at least. how realistic is another question, but hopes there would be a production cut. it means oil is not holding onto the gains. brendan: we are looking at a two-day rally. does that mean we have found the bed? the senior equity strategist over at wells fargo was out saying perhaps we have seen signs of what she is saying is capitulation of the markets. has perhaps found a bottom. one other chart she is looking at is investor sentiment, news iiter sentiment as measured the association of investment advisers here. this and bullish sentiment in white here. was lowerh sentiment before market bottomed in 2010 and 2011. those are lower now, lower than in the two times we saw the market bottom and then rebound. in other words, it could be a sign that we are starting to see capitulation. the top line i

. $675,000 of that, tom, was from three speeches to goldman sachs itself. tom: i don't mind the speaking fees. it drives me nuts about the speaking fees. but she was a senator from wall street, am i right? >> you know it as well as we all do. are we really not surprised by this? she's also strike to strike a tone against bernie sanders, who has been coming out and about basically head to head right now. tom: we have this bar chart in "the wall street journal," lays out the securities focus. but i don't think anybody, including in any state in the nation, is surprised that she's a senator from wall street. >> right, not surprised, just looking at this, $14.3 million so super p.a.c. contributions from securities and investments. tom: caroline hyde is with us this morning. caroline, this is shocking that a senator from wall street is going after wall street. caroline: come, it's banker bashing. we've had that here for years. after all the bank bashing, you then have tony blair going to work for j.p. morgan as an advisor, you have gordon brown going to pimco. i

goldman sachs is falling. walmart is declining after the company came in with weaker numbers than estimated. and caterpillar also falling, reporting january machinery sales fell 15% to the lowest on record, lower than even the recession era lous. -- lows. you have the selling in stocks, a little more risk-off. the dollar is not getting much traction today, but a little traction versus a basket of currencies. you can see it is coming off a little bit. in terms of the treasury market, we had been seeing yields pushing higher over the past several days. that has reversed, down to 1.78%. and gold prices have been catching a bid. areas of safety we have seen all year, at least they are perceived that way by investors -- gold gaining on the year. alix: thank you so much, julie. let's check in on the bloomberg first witness. ramy inocencio has more. with popet, news francis and the papal message today to donald trump. he said, anyone who wants to build a wall along the border with mexico is not a christian. pope fran

lng, energy gaining because goldman sachs raised the stock to a buy today from neutral, saying it is undervalued if you look at the full year chart. has fallen 66%, but also because of the launch contracts, investors will see the genius in that and value it going forward. that has so far only happened by 6%. a look at motorola solution today as well as norwegian cruise line. motorola with an outlook for a full year that those away the estimate for adjusted eps. norwegian cruise lines gives 385,a band of 360 52 looking for 377. the market likes both of those earnings reports so go ahead and check them out. finally, maker of instruments used for led panels, solar panels, data storage, down 18% after it came out the industry to not like the outlooks at all. abigail: solar city shares are slightly lower this morning. it was downgraded from a neutral. cut pretty sharply by 34%. he thinks solar city is still undervalued over the long haul. important to remember he is a big bearish interest suggesting solar city could just take another leg lower on top of this year's already stunning more t

goldman sachs said it may fall to 1.15. what to take you to this chart which is the europe sterling group risk reversal volatility chart. referendum scottish vote. this is a measure of how much the market thinks that the pound will fall and since the start of this year that chart has gone as youmuch vertical and can see it's a pretty negative story for sterling. richardson in stuart the cio who joins us now. a situation where we watching this story develop at a fairly elevated pace. we have a deal on the table and the boris decision made. give us your thoughts and how you think you trade next few months. >> you'll have to be looking at sentiment and headlines. and what you should be doing is trying to fade some of the noise . you see these big gaps and if you try to chase them it will be hard to make money to sometimes need to fade some of these moves but the overall message is that this looks a comparison sterling story. it will be hard in the next four months to be getting a real story.positive sterling trading from the b

goldman sachs says that the price is not justified. they expect the precious metal and three $1100 months. for more, let's bring in our mining analyst ken hoffman. unprecedented to drop to 1100 dollars. we saw gold approached her dollars in october. it has struggled to get up there every time that there is turmoil in global markets. reporter: what i wrote this morning, when i heard that goldman was bearish on goals, i thought, that old -- bearish on thought, that old chestnut. they have always been bearish on gold. there being bearish on gold -- that is sort of what they do. if you look at the market, inrything will change january. those who are really bearish on gold, they are going to say, qe have theg, they will price down. they will raise interest rates. you will see it raised four times in 2016. all of a sudden the first week of january, a lot of market turmoil, a lot of doubt about whether the fed will raise rates at all this year, and we go back to what is going on with the gold price? the gold price is going to follow two thing

the honest company is working with goldman sachs and morgan stanley to start the first step towards an ipo. how much have they explored this? this will be early days. this is a company that has raised $220 million privately. banksre hiring these basically to say, let's start getting ready, let's start putting together the prospectus. where do we think we can value this company? they are valued at $1.7 billion in their last private round, and do they have an opportunity? ipo markets are not as glamorous as they were early last year. we had no ipo's in january. we are coming off a slower 2015. what they will be doing is looking and seeing, is their investor demand for our company. the best of companies should be able to go and sell shares to public investors. and when is the window? emily: i use honest products. is honest a tech company? alex: this will be the number one question when they are road showing this company. premium, dothe tech they get double-digit times sales valuations, or are they more valued like a retailer or consumer company? it seems like a lot of these tech/whatever

you made three speeches for goldman sachs. was that a mistake, an error in judgment? did you have to be paid $67 5,000. mrs. clinton: that is what they offered. >> there is a new group called led by his moreal spirited president obama let aggressive down? mark: i do not want to say they were all softballs to bernie sanders because they were not. the ones to bernie sanders seem to be a lot more in his wheelhouse than some of the questions hillary clinton, which went straight to her political vulnerabilities. mark: cnn did not take those questions at random. boy, was that unfair. the senators questions were not totally easy but they had the hardest questions on her biggest vulnerable to achieve handled all of them fine. i will say when hillary clinton is treated unfairly, it is not right to sit back and not say anything. that was really unfair. john: i totally agree. she did not handle that wall street question, speaking fee question well. but the rest of them, thinking back to the previous, she got a lot of tough questions that she handle them very well. question wasq

president at goldman sachs. zhang xin, chief executive officer and co-founder at soho china. and ray dalio, chairman and chief executive officer at bridgewater associates. thank you so much for joining us. ray dalio, is there something that the west misunderstands about chinese markets? and does that exacerbate the volatility we have seen the last few weeks? dalio: i think there is a lot the west does not understand about chinese markets. i think the essence of what's going on in china is an adjustment. they have four major challenges. they have a debt restructuring challenge. they have an economic restructuring challenge, so they have to come up with a new model for the economy. they have a capital markets challenge. to build in an efficient way that circulates capital through the system better. they have a balance of payments challenge. having to do with the pressure on the currency. capital outflow, those types of things. these are things that have happened repeatedly throughout the rest of the world. the united states has had three major debt crises. we couldn't pay our d

goldman sachs says we could see it spike into the teens if we go below cash positive. it's not all doom and gloom. up on the year. this is significant. these industrial tomato these are starting to move on fundamentals. most analysts expect a supply deficit, rather than market sentiment. that is an interesting factor. scarlet: could there be a bottom then? alix: for these guys, potentially. joe: we were talking yesterday about the selloff in deutsche bank, an interesting spot in the capital structure, converting from yield payment to equities. it's not just deutsche bank. i want to look at other european banks. barclays,ank surging, all of these be a charlie up and to the right in the last couple weeks. veered sharplye feare up and to the right in the last couple weeks. it's not just bad for the coco bonds. it's bad for the credit default swaps. i'm locking -- looking at deutsche bank credit default swaps. it, goldmanlieve sachs and deutsche bank all trading with higher credit default swaps than caterpillar. that was a staggering thought to me. this is actually a new p

the goldman sachs president says he hopes china will improve communication. financial markets try to understand the tools that china is using to stimulate the economy. a more globaln approach to monetary policy. >> the chinese are in a tough position. the world right now is looking at what are the stimulative measures, what is china prepared to do it growth slows down. ,e're looking at mario draghi what is the federal reserve going to do in the united states? the singapore stock exchange may be expanding into shipping. discussions are at a preliminary stage. a nonbinding bid for the shipping board. in talks with others including the london metal exchange. ♪ let's look at how the markets have been trading in the asia-pacific region. they are set for a second weekly game. shanghai stabilizing. highsn from some of the after we heard from the pboc governors. this is the new normal. after plunging 6% we have seen a steady in the end and steady oil prices. the nikkei is up about 1%. ♪ cory: to turn to our top story, apple laying out its arguments against the fb

gary cohn, president at goldman sachs. zhang xin, chief executive officer and co-founder at soho china. and ray dalio, chairman and chief executive officer at -- chief investment officer at bridgewater associates. thank you so much for joining us. ray dalio, is there something that the west misunderstands about chinese markets? and does that exacerbate the volatility we have seen the last few weeks? mr. dalio: i think there is a lot the west does not understand about chinese markets. i think the essence of what's going on in china is an adjustment. they have four major challenges. they have a debt restructuring challenge. they have an economic restructuring challenge, so they have to come up with a new model for the economy. they have a capital markets challenge. to build in an efficient way that circulates capital through the system better. they have a balance of payments challenge. having to do with the pressure on the currency. capital outflow, those types of things. these are things that have happened repeatedly throug

topic of debate among investors is the question of whether profit margins have peaked, and goldman sachs came out with a report detailing the bull and the bear side of the market. we bear is really, look, have over a week demand, a lot of capacity in the market, and therefore margins are going to have to fall. of course the bull cases you have ongoing consolidation in industries, lots of synergistic opportunities, and colonies continue to cut costs. all that keeps the floor under margins. alix: what is so impressive that goldman's note is it's profit margins expand while the global margins are slowing and that could blow up capitalism as we know it. scarlet: you have got to question how efficient is capitalism. alix: from bloomberg world had cordis new york, welcome back to bloomberg markets. in newd headquarters york, welcome back to bloomberg markets. mark: senator rand paul is defending his presidential campaign. the kentucky republican taking the action after only 4.5% of the vote in the iowa caucuses. -- suspending his presidential campaign. john kasich says he is also ready to drop

goldman sachs put out a report saying that these are way too cheap. stephanie: we are accustomed to fast money hedge funds but we are not accustomed to this. not now, not ever. mark: i agree. january was one of the worst months that we have seen since 2008. including 2008. so this is not just, the stocks are down but this is really bad. i agree with you with the sovereign wealth funds. stephanie: in the past, with sovereign wealth funds on deck, you never see it come to market again. when they buy it, it is gone. christine: they were some of the rescuers in 2008. they put a bid under citigroup. david: sooner or later, it all comes back to oil. let's see where the markets are now. are nine minutes into the trading in new york. matt: we are seeing markets that are under pressure, not as much but the s&p 500 is down. and the nasdaqwn is down about two thirds of 1%. if you take a look at my bloomberg, i have used the mov function. you can see the winners and the losers. i have organized this in terms of index points. the biggest loser per index points. yo

brendan: i'm cranky about gold but let's talk about goldman sachs. it basically says everyone come out from underneath your blankets, it is fine. is that a way to look at it right now? joe: it probably is. if weight be wrong but are going into a deep downturn like a recession or something where we start having concerns about the banking system or whatever, they will probably be wrong on that call. if the general call is that things are not that bad, they will probably be right. joe: -- brendan: financial markets would require oil markets for the next seven years. i had never thought of it that way because i look at the fes targets and say, the fed, how will you get where you say you will get when the markets say this? but maybe the markets are wrong? >> it definitely seems all we can have a bubble and debt against the fed or something like that where people become so pessimistic. we were talking about everywhere was central-bank, no credibility, they will never get there. you could have a thing where everyone gets -- central banks are completely usel

it is almost as if goldman sachs and the others were channeling bob dudley yesterday. we talk about how he sees the ves, in the hal second half he sees a u.s. shale production coming off. , the energy the eia statistics u.s. government, they see u.s. crude production falling by about 620,000 barrels. you can see that just starting to taper off. i like the graph you have here. that is inventories versus the wti price. it is just continuing to climb here. there it is, what to expect? a drop include production, that we would see the inventories coming down. if that the graph is correct, we see that inverse relationship and in you, you can see the oil price rise. anna: we will see some less london petroleum. just had some earnings out. a loss on the net income. they continue to witness extreme volatility. we would get their thoughts. a later.your dat there, thenvices justdata and the pmi filling in the gaps. mortgage applications and employment. up next we keep that with theion going conversation just after a short break on countdown. ♪ "cou welcome back, this is ntdown.

goldman sachs analysts are saying strengthen television sales will be offset by weakness in wireless. we have a trio of commodity related negative earnings reports. construction and engineering and caters commodities. company,e tractor clients are still suffering as well. industries, the maker of railcars, those cars have not been caring as much of things like coal and other commodities. brendan: real indicators from the real economy. returning to commodities. all prices falling the u.s. crude stockpiles rose to the highest levels in more than a decade. joining us from new york is blanch.o this talk about geopolitics. -- let's talk about geopolitics. francisco: it is a first step to stabilize the market. we have to see how it pans out in practice. if you pick opec versus russia, that is half of the market. andeeze in oil production russian, that should be positive for prices down the line. for the last six or seven weeks, swaps ofeen the trade many role producers skyrocketing in the private sector. that is going to put a lot of pressure on output over the next few months. we have the

goldman sachs says the global surplus will become a deficit. falling demand for computers and smartphones -- the world's largest pc maker says revenue fell 8% last quarter. lenovo gets half of its reven ue from computers. yahoo! will cut about 15% of its staff, close offices, and devote more resources to increasing engagement with users. the coveney reported fourth-quarter sales and profit that beat estimates. that is our latest "bloomberg business flash." for more, let's bring in scott galloway, who joins us from the phone. really in the end game, at this point, is that? scott: yes. put out abasically "job for sale" sign. alternativesoring with the execution of the management plan, that means this is a siren call saying everybody should get out their pencils and reach out to their banker. this is fairly explicit, extraordinary behavior for the chairman to say we are essentially for sale. approach -- they -- will tbgwill approach yahoo!, or will yahoo! shop for suitors? think because of the size of yahoo!, there is a handful of players, maybe t

goldman sachs yesterday, and this is what he had to say. gary: the market is clearly taking a pause and trying to understand the long-term viability and the long-term wealth creation vehicle for shareholders. emily: are we seeing a massive revaluation in private companies as well? tomasz: we are starting to see it and we will see it. i think -- so, in the last two years, those were the two largest years for capital venture investment in 25 years. we saw $45 billion investment, which is twice the 15 year median, and that is going to come back down a lot. the biggest of that are nontraditional investors, venture funds, hedge funds, and it is very likely that that money will leave the market, meaning that the supply of dollars into ventures will go down and that will make it compress. that is in addition to the multiple benefits we will see. emily: we saw linked in lose half of its value in the last week. many analysts say that is not that bad. how does that, in fact, affecting your investment and your psychology? tomasz: it definitely affects

joe: the counterpoint to all this, goldman sachs has argued that as soon as the price of oil rises a little bit, we will just get more production out of texas . ultimately there's nothing any of these players can really do anymore. what is the problem with that argument? regardless of who it comes from. jan: the argument that i prefer different in a few nuances. i think things are going very well on the demand side, more so than most people. we do not think we are in a recession. we may get to one if things go the wrong way. tode oil demand is going grow. when crude oil supply is no longer growing, and when domestic and other opec solutions are in a world of trouble and finally beginning to guide down. you know me, i tend to be a little more optimistic than the next guy. we had a target a little on the high side last year. at the same time, what it looks like to us is that things like inventory building is slowing down. demand is not falling off the table. china seems to still be kind of all right. alix: good to see you, jan stuart from credit suisse. scarlet: gap reporting earnings

john: coming up, emily chang will talk about goldman sachs. we are working on coverage in the palmetto state. including the upcoming contest for the republicans, getting ready for their big debate saturday. until tomorrow, thank you for watching. john: we had a good week. a good time here. mark: we will be in south carolina for the debate. we have to go to nevada for caucuses than everything goes wide open. john: we have more politics here in february. mark: see you tomorrow. thank you for watching. thank you for everyone here at the radisson. sayonara. ♪ >> from our studios in new york, this is "charlie rose." charlie: the new hampshire primary is one day away. donald trump and bernie sanders maintain commanding leads in the polls. marco rubio, after finishing a strong third in iowa, is now having to rebut a poor debate performance. donald trump and marco rubio reacted to the debate today in separate interviews on cbs today on "cbs this morning." the story coming out of new hampshire so far is one you have a huge lead, and the second story

market economics at goldman sachs, before the crisis and now, here as a public service to the nation. good morning. ♪ straight tot's get the bloomberg business flash with caroline hyde. caroline: americans are not striking budweiser the way they used to. that could anheuser-busch to post fourth-quarter income below earnings. allow them to expand into emerging markets like africa. shares of lloyds banking group londonas much as 11% in today. the bank raised its dividend and introduced a special payout. it indicated it may have reached the end of legal charges. consumer spending power the british economy to a 12th straight quarter of growth. 1%.economy grew .5 of an increase in household spending helped. that is your bloomberg business flash. tom: caroline, thank you so much. the booking gods got to us where on the shahab jalinoos set with us. we need to do a victory lap of yesterday's single best chart. it got a huge response. this is sterling back 30 years .ith two standard deviations that little yellow box, down to 1.3.l of it is a brexit suggestion to end unimaginable suggestion o

rumored sources say that three bankers have left goldman sachs. they were involved in revising a in a foodbuyer company out of the middle east. rumors also say that boeing has become the subject of an fcc -- review.unting they are looking into account in sales forecasts. boeing fell almost 7% on the news. both the airline and the sec failed to comment. guy: thank you very much indeed. david cameron meets angela merkel in a final push -- this after the euro area envoy change euplans to rules. hans nichols is in berlin for more. walk me through this. plenty of people are paying a great deal of attention. hans: they need to start reading the french newspaper because according to four people familiar with the matter, the french are leading the opposition to this draft proposal. david cameron is celebrate in this as a potential victory. firm you think the opposition is tells you if something will get across the finish line. the dispute on the bankside -- we will do another one in the second, but can the eu in the eurozone have rules? how quickly can th

only two global investment banks have been profitable, that is been jpmorgan and goldman sachs. most of the banks have not had a profitable 10 years. the ones that have are looking for more market share. there looking here across europe. guy: hans, thank you. i am fascinated. i cannot wait to hear what he has to say. really looking for to that. hans nichols. from two of the biggest oil producers yesterday. first, i want to show you this chart here. what is happening with bhp this morning. -- bhb, fromctor the 22nd to now, that is an 11% move here it ryan chilcote is here. we saw a big move in australia. we see it coming through again in europe. ryan: a decision, the bhp story. they caught our attention this morning. they were down by more than 8%. worst performance since 2008. the question you have to ask yourself is what is to happen at the open? overnight, what do we learn? -- what did we learn? malaise.t a general we got a little bit of news out of brazil. the brazilian police seeking arrest warrants for six executives. some arco is the joint adventure that php has. -- that b

joe: goldman sachs sees again for the s&p 500. we ask whether we have seen the bottom in stocks. alix: the launch of a new the global lng market, and who should buy his former company. >> we begin with market minutes. s&p 500 retreating from a six-we tied. -- six-week type. - six-week

todayer than where it is here to goldman sachs saying it should fallen as low as 1.15. that is roughly 20% lower from where we are today. we have seen it before in history. back in 1981 when the economy was mired in a recession, sterling fell by 25% in 1992. intain crashed out of the er september. in the falling -- in the following five months, the pound fell. and a height of the financial crisis, sterling fell around with the 5% in six months. it is not unusual for the pound to follow by 25% in the space of six months. this is the pound correlation weighted in their. this measures the pound against nine of its majors -- major peers. uncertainty over the referendum continuing to weigh on the pound. francine: certainly. let's talk more about the pound and the uk's exit debate. here is where economists surveyed think the pound will fog the week after the referendum did -- referendum. let's try and get some expertise. uson derrick, also with market gilbert. thank you for joining us. -- heund, every morning backs brexit. thesee the decline of pound, should it cause concern?

goldman sachs is a racing 66 points from the dow. not just that. you have home depot knocking off 40 points. it points to a more widespread -- joe: the real carnage is on the nasdaq. 7%, not pretty. that has been the story for a lot of these last sessions. checked just getting clobbered. telekom down, like, 5% right now just getting clobbered. nothing good, all ugly. and again, we have that great jobs number on friday, great in the sense that really good numbers on wages and hours worked should've pointed to more strengthen the american consumer. joe: you would think so, but obviously there is this anxiety about a gap between what the fed is going to do them what the markets are expecting and this overall fear gripping everything in the world. the jobs report not doing the trick turning that around. they arelly, anything selling now. and speculation on whether the federal reserve good raise rates -- it was last week that the fed chair stanley fischer said negative rates had been more effective than he was expecting. countries that use it continue t

are you backing goldman sachs? andrew: i think in the short-term, these measures are clearly good for the market. confidencehas lacked in the ability of china to stabilize its growth profile. i think you have seen some of that in the concern around commodity markets and the weakness of economic sectors. policymakers are focused on these issues, aware of these issues. the fact the currents he continues to hold in the range the pboc indicated is a good thing for confidence. if weing to keep in mind, think about where a level of the market concern is over china in the big heckscher, that has related to the buildup of credit growth in the country, excessive growth in the eyes of many. this short-term boost is a good thing but i am not sure the market is going to look at that and say that as a long-term solution that will make us feel confident on the broader chinese macro picture. caroline: are you expecting banks to start falling over? are we going to see this credit out of the market? andrew: i think easing policy is

guy: why are blackrock and goldman sachs and these smart people -- why are they getting it wrong? >> they aren't necessarily. if you look at emerging-market debt, that has been pretty reasonable. it has been local currency debt and particularly equity markets, so we have to draw a distinction there. but the benchmark between a hard currency debt index is different -- if you look at inequity index, it is dominated by china. there could be a perverse situation where hard currency debt is maybe wrong to be bullish but i will be less bearish than it would be on local currency, particularly emerging markets and that is an important distinction to make. guy: the difference this time strikes me as they are differently financed. happeneds have already if this was foreign denominated debt? >> yes, absolutely. china's debt level is 260% of gdp and some of that is financed externally -- the fear in china from my perspective is if you look at the corporate sector, the manufacturing sector into industrial sector, we are nearing a crunch in terms of working capital. because of overcapacity, bec

royal bank of canada has passed goldman sachs to become north america spiffed largest tank -- fifth largest bank. tracy: julie hyman has the latest. julie: we are still down on the major averages, but down much less than we were initially this morning. all three major averages taking a hit, but the nasdaq only down .25% at this time. you still have banks that are the worst performers here. industrials and consumer staples also on that list. still seeing some weakness along the large cap banks. take you look at energy, only down .1%. we have seen a turnaround in oil come a very dramatic turnaround in oil prices. higher after we got weekly inventory reports that showed a building inventories. crude a drawdown in inventories. that is what is pushing oil to that turnaround. follow rightstocks along with it, even though stocks are still lower. in is in yellow, stocks white. they are moving pretty much in tandem as we do tend to see. i've shown this chart on almost a daily basis. if you look on the other side of the coin, the so-called safety assets, you are seeing them give up some of the gains

goldman sachs predicts a 14% tumble to 130 in 12 months. some see it asy, the make it or break it event. this time, may be no different -- budget should compromises and fiscal prudence. risen 18ields have basis points, increasing on six occasions, sold three times, and were unchanged ones. bonds have suffered the kleins as -- suffered declines this year. those of the stories driving the forex markets this morning. shares are tanking in australian trade after the troubled law forum reported belated results. millionf more than $600 , and most of that was write-downs, wasn't it? >> that's right. a huge impairment charge on slater and gordon's business, the professional services division, $624 million write-down. there were questions over its and thency practices regulatory environment in britain changed as well, so a downf pressure on them, almost triple the market capitalization of slater and gordon. the ceos saying that today's results were very disappointing and offered to quit, but the board rejected that offer saying that he is the best m