Abigail a bit of a decline. The worst day in more than two weeks as geopolitical decisions that julie was talking about is rattling investors to some degree as we see the decline for the small cap is lower now. Unlike what will seem more feeling, investors are uncertain about what is happening with north korea. This is intraday chart in the bloomberg, a sixday chart. Last week, we had a north korea missile fly over japan and the dow have fallen but today on that day, it turned even and we see it had been climbing higher through the week. Thoseors are looking past geopolitical decisions but we see the big drop for the dow on pace for the worst a day since the middle of august. David over and mainstay capital who has been good in terms of bullish and saying the market is able to look past the broader concerns, he things based on the north korean tensions along with the fact that the durable good numbers was disappointing, it could be a chaotic week for stocks. We are seeing that, but you never know. Let us take a look at the s p 500 in a greater chart we have in the bloomberg. And we did have the s p 500 on a sixday winning streak, the longest since i may. 0. 5 days decline, almost and the s p 500 is poised to break the winning streak. Who knows . Anything is possible. It looks about the bearish tone and mainly set by the banks. The banks are the worst decline in the s p 500 trading down in civic the way to yields and yields are diverse price per head in verse two price. Price. Rse to we see all the different indexes and the banks, the regional bank, financial diversified index, julie, insurance index also down and accept something to do with Hurricane Harvey and irma, not knowing the potential damage could be done from that second hurricane. Watching irma. Ly thank you. The Trump Administration will end of the program that prevented the deportation of immigrants brought illegally to the country as children. Attorney general Jeff Sessions made the announcement. To have a lawful system of immigration that serve the national interest, we cannot admit everyone who would like to come here. It is just that simple. At thatessions said will be a sixmonth the delayed Hope Congress can come up with their own a solution for dreamers. Senators Lindsey Graham and dick durbin will hold a news comes at 3 00 together. Kevin cirilli joins us from capitol hill. They are holding this News Conference and weve gotten comments from paul ryan. What are you hearing about the next steps . Kevin the fallback immutably and democrats announcing this decision and calling on congress permanent. A whatever or not that will happen remains to be seen. Task led byoderate senators Lindsey Graham and dick durbin, a republican and democrat respectively, they would allow dreamers and daca members to become permanent should they pass a criminal background check and be able to volunteer for military or other programs. Let us pull up what House Speaker paul ryan said in a statement following the attorney generals announcement. He said, however will attend obamas program was a clear abuse of executive power. It is my hope in the house and senate with the president s leadership will big to find consensus on a permanent legislative solution that includes ensuring those left done nothing wrong can contribute at his as a valued part of this great country. I can tell you the Business Community were already starting to hear some responses. We have one actual resignation. The u. S. Chamber of commerce javier has resigned from the Diversity Panel and meanwhile, microsoft president and chief legal officer, brad smith, put out a Public Statement saying congress should adopt legislation on daca before it tries to adopt a tax reform a bill. Some calling on congress to reshape its legislative priorities before tax reform. Julie we are getting a statement on daca from the president himself. I have not had a chance to look at it in full. One would imagine that he at those some of the echoes some of the sentiment from Jeff Sessions and we will bring you more headlines from it. As we go forward now, congress does have tax reform to consider is no tax reform proposal necessarily on at the table as of yet from the president. And also the debt ceiling, the government funding, and a number of other legislative things. Are you getting any sense from a congressional congressional leaders of the order of priority . Some of these halfhearted deadlines. Spoken to several sources and lawmakers set it to come back this evening returning from the recess and tomorrow a scheduled vote on the Harvey Relief a bill. It will be interesting to see what happens with hurricane irma. Tied upsurance will be in excess and got to pass some and of insurance renewal that is on the minds of thousands of folks impacted in texas, louisiana and now florida. In terms of debt limit, i have spoken to several sources who anticipate that lawmakers will to december. I do want to read a little bit of President Trumps statement. He says only by the reliable enforcement of Immigration Law can we produce safe communities, a robust and middle class and economic fairness for all americans. As i have said, we will resolve the daca issue with heart and theassion but through lawful, democratic process while at the same time ensuring in Immigration Reform we adopt provides enduring benefits for the american citizens we were elected to serve. The president not a dress invest on camera but we got a statement from the white house. Favor he said i do not punishing children for the actions of their parents, something as mentioned before. Thank you, kevin cirilli. Tensions between to heat up with a north korea. World powers including russia and china are resisting u. S. Calls for new sanctions against north korea after its sixth and most powerful test. Is agency is reporting responding that north korea will respond. Our team leader for National Security joins us from washington. Bill, what is the latest here . Let us talk about the north korean position, what we know about this latest cast and about north koreas next step . Tested whatkorea appears to be some sort of a Nuclear Weapon underground and is promising or seems to be preparing to launch another i. T. Bm and would be their third since early july and at what we have seen in the reaction has been china and russia saying, know, we do not want more sanctions although the u. S. Said they want to vote on september 11. What really matters in the equation is china more than russia. Russia tends to go along with what china decides. In july when north korea launched their first icbm, china works too, with a new set of sanctions. We are trying to figure out if it is going on behind the scenes and in china a u. S. Agree, russia will probably go along with it. Julie one of the sanctions is cutting off fuel, fuel lines to north korea. Is there any indication that china china haslinda resistant to going along with that josh has seemed resistant to going along with that and would it be effective has seemed resistant to going along with that and would it to be effective . Bill faries they have always been reluctant and they have always had that card close to them to use if they feel threatened or feel like they want to put a check on north koreas behavior. The flip side is cutting off Oil Shipments could very quickly cripple the country and a lead to chaos on chinas southern border which is something they do not want. That is something you have kept out of the hands of the un and never really wanted to play. Julie bill faries, thank you so much for your team leader on interNational Security. A check on first word news. Courtney donohoe has more. Ranksey hurricane norma as one of the strongest storms recorded ever in the Atlantic Ocean and could hit florida this weekend. Maximum 175 Miles Per Hour making it a category 5, warnings have been issued for portions only one island, antilles including puerto rico. Vladimir putin said President Trump is not my bride in iraq not his groom. My bride in i am not his groom. Himaid it is naive to ask if he is disappointed and the u. S. Presidency. British Prime Minister theresa may will try to force the pace of brexit negotiations. She will deliver a speech that makes the case for continuous talk. The u. K. Wants to move on to the issue of trade while the eu was still several other issues such as how much the u. K. Will pay as an exit the. Doubts that aing deal a rewriting of the north American Free trade agreement can be reached this year. The latest rounds of talks in mexico city coming to an end with a major breakthroughs. President trump has threatened to pull the u. S. Out of that agreement. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries, i am i am Courtney Donohoe. This is bloomberg. Is a belmont of september shaping up to be the cruelest month of stocks. Month of september is shaping up to be the cruelest month of stocks. This is bloomberg. Is bloomberg markets. As markets head into september often considered the cruelest month for u. S. Equities, theres more to be thought about her book in a heartbeat, a number of Central Bank Decisions and the deadline to pay back debt are all of the horizon. The chief market strategist, quincy krosby, always great to see you. We have this litany of events coming up. Is there any particular one of those that you think will be most key or you are sort of weighing them equally . Quincy krosby few ways him all. We are looking at the fed. In the midst of all of this, the fed is meeting in september. You weight them all. E wind down the Balance Sheet. When there is north korea hope during over the market hope hoveringes hovering over the markets particularly marked increases on the backdrop of inflation in the wrong direction. Again, the Economic Data comic better than expected despite the number from the report. We will package attention to bob dudley speaking on thursday, he very often speaks in concert with janet yellen and stanley. Not at the local goal, he mentioned the possibility of a third hike and the market is divided. Not that long ago, he mentioned the possibility of a third hike in the market is divided up. Julie Financial Decisions of versus the fed trajectory. We have seen the increases and financial conditions have been easing, trending upwards. If there a chance we will not get the third rate hike . Quincy krosby there is pretty the fed wants to take advantage of where they are accommodative. At the end of the day, despite the winding down of Balance Sheet am a 13 trillion on the Balance Sheets of the major Central Banks and that is tremendous accommodation. And a weaker dollar tends to help, and we have a weaker dollar. Again, i think janet yellen would like to leave with another rate hike if she can. She is not going to do it unless Economic Data allow her to. Many are divided on whether or not, is it inflation . Is it wages or financial conditions . Many have criticized her for having waited too long to begin the rate hikes to normalize. Nonetheless, the market will look at earnings and that is the field for the markets to march higher despite the selloff. We have needed a selloff. The biggest question becomes when do the buyers come in on the dip . We saw with the last north korean episode, the buyers started to come in and begin buying. What we are going to look for is a day will come in and buy it we will see the volume of the upside. Volume has been very weak because of the summer months. We want to look if we see buying on the dip in velocity . Do we believe in this market . Us far, we have seen the upward trajectory and have not always seen the volume. With the outlook and looking at north korea and the legislative calendar, where do you allocate assets . you have a mario draghi speaking to this week. We will see if he is more dovish. The market, the currency market, has begun to price it in and we have the euro ease a little bit and pushing the dax up despite a deal announced this morning. That is going to help the european market, if it is more dovish. We expect jackson hole and it rose 1 after you spoke. We like to europe, the dividend paying stocks, good exporters. We like to the health care as a sector in the u. S. It has moved up, actually handsomely, violative have moved up a mightily. This one of their peter periods they do well because of the medical conferences. We have started to see medical conferences. Maybe it means to pull back. We like and. With the agenda that the administration has, we doubt they will start a talking about Regulatory Reform in terms of pricing and health care. They have got to get through this wraps a tax cut or 2 that the market will like. We expect earnings when we start to see them in october. We like a u. S. And european stocks. Yen pullswhen the back, the market should do well and have been doing well. Japanese international with a weaker dollar, if if the teams to remain weak and a bid almost at the expense of low and mid cap. When the dollar rises on the back of better Economic Data, money tends to come out of emerging markets to some degree and move into smaller cap in the u. S. We have not seen it. Julie lots to choose from. Quincy krosby, we have to leave it there. Up on ourbehemoth that can outfit everything from jetliners to warplanes for United Technology acquisition of rockwell collins. This is bloomberg. Julie this is bloomberg markets. In other deals report, a major deal and the arrow space sector. Apple space sector, one of the biggest takeovers in aviation history. This is a boeing, a bit compat are competitor a big competitor is weighing in and may pursue regulatory options to protect its interests. Does that mean antitrust resistance . Yes. There are 2 course of actions. They could try to make a counter proposal to bid. Ruled out and boeing has made no move to signal that is what they will do they do not even higher potential to look at best. Net is will they say its great to much antitrust and gives them too much power and that seems to be perhaps the course they will take. Isyou look a airbus which the equivalent to boeing in a this issue on it relies on United Technology and rock well for parts. They came up with a slightly different one that they recognize the are doing the deal and they remain focused and do not get julie does bowling have a point how dominant is this combined Company Going to be . ,d hammond it is very dominant theyre the biggest supplier or maybe secondbiggest of boeing 15 rockwell is top 10 or top a you can pull it up by looking at it. Youi think the argument could make is as that the Customer Base is way, way more consolidated. You look at boeing and our bus and they have these 2 Monster Company airbus and have these 2 monster companies. For it gives of them power, nothing compared to the powers which havend airbus become more pushy and amending recently in terms of squeezing the supplychain on cost. Julie it makes it seem like they were not have that strong of a case . Wouldmond i think they have a strong case but whether it has effect remains to be seen. Julie are there any other, you said boeing rolled out making a bid. Has airbus ruled out making a bid . Say onend we can never the deal will go through. All kind of things need to happen. People talking about closing in a year. I think it is unlikely boeing or airbus would step in because that is theyll buying a significant piece of the supply chain that will create antitrust risk. Buyou are bond and by rockwell and other people saying, why are we going tobuy . It is possible there is some it doesinterloper but not seem like a high probability the we brought the news of the talks on was a month ago and nobody has stepped in. Julie thank you, ed hammond, bloomberg deals reporter. Larry summers explains why slow wage growth is a feeding into middle income anxiety. Middleclass income anxiety. This is bloomberg. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Julie hazy day and new york city, live from bloomberg World Headquarters in new york during im julie hyman, in for vonnie quinn. This is bloomberg markets. We see a selloff being led by financials. It looks like we are at the lows of the session with the nasdaq leading losses down by 1. 2 . Just touching the lows and the last few minutes. We will keep an eye on that and bring you up to speed from the show. Lets get to bloombergs first word news, Courtney Donohoe has more. Courtney the Trump Administration will end the program that prevented the deportation of immigrants rot illegally to the u. S. As children. Jeff sessions made the announcement. A loss level system of immigration that serves the national interest, we cannot admit everyone who would like to come here. It is that simple. Courtney sessions says there will be a sixmonth delay in Hopes Congress can come up with its own solution for the dreamers. It puts out one Million People in legal limbo. And the u. K. , the Opposition Labor Party will try to amend Prime Minister theresa may exit bill. Lawmakers want to change clauses that give ministers the power to modify loss with little coronation. Intended toill is make british lot. The debate begins on thursday. Syrian and ally troops have a major victory over islamic state. They broke a threeyear siege and the town of deal as it were, a disputed city near the direct near the iraqi border. Humanitarian crisis for people stuck in that city. Russias press president is on chinas side when it comes to north korea. Utin has not call for toughest sanctions. He calls sanctions useless and ineffective. Putin urged the International Community global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. Im courtney donahue. This is bloomberg. Former u. S. Treasury secretary Larry Summers joins Bloomberg Television earlier today. He discussed his concerns over the credibility of National Economic Council Director gary cohn as well as how to gdp is not a reflection of the president s policy. Thaterybody serious knows gdp, withermines flags of six months to one year. Nothing that is happening is sensibly yet attributable to the actions that are taken by the Trump Administration. I was careful to say throughout that i was not predicting, as some who do not like the president s policy policies were, that we would go rapidly into recession. I do not think that gdp growth figure is any kind of referendum policies, idents think a lot of it has to do with catch up fromh the first quarter. There is nothing in the data that is suggesting to any serious observer that 3 to iswth on a sustained basis in the cards over the next five to 10 years. Going back to 1986 tax reform, as you pointed out, corporate taxes were increased. But, taxes on individuals were reduced. To what extent would it to what extent would it really accomplish the growth objectives if we focused on personal taxation . I think depending on what you did, there are things you could taxation thatal would encourage growth. For example, right now, we subsidize people going into Financial Engineering through the carried interest loophole. If we were to get rid of that loophole, we would have more people thinking about how to make better products, how to make more productive workers, and fewer people thinking about how to leverage up companies. There are things to be done on the personal side that would make the economy more efficient. But, there are limits. I think the most important thing is doing something about the global system, but doing it in a way that does not involve trying to win the race to the bottom, that tries to work with other nations to make sure there is not a race to the bottom. And that businesses pay their fair share. I spoke with gary cohn on friday, and i asked him why the dow market is holding up so well but wage and inflation are not keeping up. He tied that to tax or four. This is what he had to say. To comeinflation has through demand for more workers at a price. The way we create the demand for workers as we create better operating environment in the United States. You create better environment by making the United States more competitive. You create the competition by lowering the business tax rate and having businesses have to be here and want to be here. Larry, you wrote in a Washington Post article, but when the most valuable companies are the apples and amazons, it cannot go back to being what it was. Any later concern with the american middle class needs to concern that the basic function of communion is important to our economy as it has been. Am i setting up a debate between unions versus tax reform as being responsible for wage growth . Here is the problem with gary argument. When you cut tax rates, it is true firms get to keep more of their profits. It is true that firms get to deduct less of their labor costs. When you are hiring someone, those two things cancel out. Whatever maximizes two thirds of your profits, which is what you get after tax, the same thing will maximize summary 5 of your profits. If that is what you get aftertax, the problem is he is ignoring one side of the equation which is the es. Uctibility of labor tax on whatere are limits unions can do given the structure of our economy. , at a time when inequality is increased so much, why should our labor lobby written in a way that enables firms to fire Union Organizers with impunity, and either face no penalty or face a slap on the wrist five years later . That are easygs to change. We can find new ways of organizing so that people who participate in the economy have a chance to be treated fairly. On labor day, what we should be thinking about, all of us whether we have Progressive Solutions or whether we have got conservative solutions, is that when s p profits rise by 16 and wages rise by 2. 5 , something is wrong and people will get angry about that. They theyre a great is going to manifest itself in ways that are probably not helpful. That was Larry Summers, former u. S. Treasury secretary earlier today on bloomberg daybreak americas. Coming up, apple is selling bonds again and its ceo is speaking out on the issue of dhaka of daka. He is not alone. We will talk about that next. From new york, this is bloomberg. Julie this is bloomberg markets. We focus on a notable stock you need to watch. It shine on your electric Schneider Electric is combining its stock. It is valued at 2. 5 billion. Schneider will receive a 60 stake. This announcement pushed to by more thanred 20 . A closed by 26 . Joining us with more is taylor riggs. Give us the background. What is this deal about . Taylor this is their third attempt. It comes down to the debt down to the industrial software. As you mentioned, closing up higher today, now the highest going back four years. You have to see the investors this excited. It is all about operating engineering projects. Whether that is Nuclear Power plants or diesel engines. And also maintaining their footprints in the u. K. Before i get there, i want to talk about their competitors. You have Companies Like honeywells sending billions of dollars to go into the software space. They have realized that they needed to do that to keep up with the competition. The schneiders ceo said destabilization in the oil and gas sector made this deal attractive. Sectors are moving into automation. Makes sense for the sectors. A lot of things came together for the company this time around that than the previous time. Julie what was the problem with the backandforth . Taylor they decided things were not coming together. This time, it looks like the deal was going to go through. We have our ducks in line, we want to make it happen. Julie when you are talking about a u. K. Player, one of the eva comey the deal of you have to talk about brexit. Is there going to be any kind of effect of brexit on this deal in the business . Taylor it is based in the u. K. No surprise to see the ceo coming out saying that this is a good deal for the u. K. Tech sector, coming out, he does not see challenges. Coming from brexit, a quarter of their employees are based in the u. K. They will keep their headquarters in cambridge to make sure they stay there. 90 of the sales come from outside the u. K. This does give schnider a footprint with the headquarters there. You can see schniders revenue diversified when it comes by region. This coming down to software and can make up and keeping up with other industrial giants. Julie more of a foothold there. Thank you so much. A little bonus stock of the hour. The stock the Trump Administration has decided to. Nd daca tim cook pledging to protect the socalled dreamers, joining us to discuss from San Francisco is alex webb who covers all things apple. Apple was not the only company in the Tech Industry to comment on that. Facebooks Mark Zuckerberg Mark Zuckerberg weighing in this plan to end doc up. And daca. Why is this important for the Tech Industry . Tim cook said 250 apple employees would be affected by this. Apple that is not a huge number. Alex it is very much part of tims memoranda i. He sees that as his role at apple. It has differentiated him from steve jobs. He is trying to make apple a where the company who supports people that need their help. Fightsit as he put up about privacy and of various other identity related questions. In terms of immigration, not a huge number. The Tech Industry is reliant on having the best talent available. Therefore, it is part of that strategy. Julie talk to me about the current status of politics in silicon valley. Postelection, there was this adversarial relationship that was being set up between the industry and washington. There has been a little bit of waxing and waning in both directions ands men. Where do we stand now in terms of Drug Resistance within the valley . Trump resistance within the valley . Alex they are very much aware that there are things where the government can help them and perhaps create hurdles as well. Not least in areas such as net neutrality. For apple, which has a huge amount of money, most off mostly offshore, tax reform is important. They have to be careful about which battles they pick. Julie speaking of capital, at the same time, apples return to the bond market, they are going to sell debt in the five parts to finance the current round of share buyback. Thisat the primary use for , returning cash for shareholders . They are selling debt to do this rather than using the cash they have. Alex that is the reason most of the catch is offshore. 90 is off is outside of the u. S. They would have to pay 30 tax bill which is not something anyone inditex industry is king keen to do. They have the cash flow in the u. S. Probably when they say they are going to use it to to repay or reward shareholders that by back from dividends, that is the case. Julie what about the timing of this particular Debt Offering . Why do it now . Alex it comes after they announce earnings. Last month they announced earnings. It is often the case that it comes a couple of weeks after the earnings are announced. Julie in the past, when they have done Debt Offerings, what has the appetite been like . Do we have an idea of the appetite for this offering . Alex im not sure of this one yet. The previous one was oversubscribed. They ended up selling twice as much as they had intended. We do not know how much they plan to offer or how much they plan to raise. The appetite debt is pretty considerable. Julie alex, thank you so much. From politics to the bond market. Alex webb, thank you so much for joining us. It is time for the Bloomberg Business flash, a look at the biggest business stories. J. P. Morgan chase chief executive Office Jamie Dimon says daca beneficiaries should be allowed to say stay. This is after the Trump Administration said it would end that program that prevents the deportation of children illegally brought to the u. S. He says when people come here to learn, work hard, and contribute, they should be allowed to remain in the United States. Steve could be planning a new hedge fund. They could raise 2 billion. They have advised clients about the new firm. Ohn is barred from managing outside capital until january 1. Job cuts on the way at europes largest toymaker. Lego will cut 1400 jobs. The maker of plastic building profits at 3 . Sales were down by 5 . Lagos says its organization has become too complex after it period of rapid growth. That is your Bloomberg Business flash update. Coming up, Airline Stocks saw a 10 billion loss in august. That is keeping wall street on edge. Why there could be more disappointment ahead for that industry. That story is next. From new york, this is bloomberg. Julie this is bloomberg markets. Airline investors are bracing for more disappointment. This is after the s p 500 Airline Index down a percent in august. Shares were lower after a price war that started between the United Continental and Discount Airlines then spread to more carriers and market. I want to bring in Michael Fafsa michael, who joins me. What set this off . Ago, unitedonth airlines had its earnings call, it suggested it was not going to back down when Discount Airlines like frontier and Spirit Airlines said they were going to discount their airfares. Investors got spooked when united said it was going to match fares and they were worried that fair matching might spread throughout the industry. Over the last month or two bank, you see american and Southwest Airlines also matching fares. That has everyone on edge, at least in the investor world. Julie with delta coming out and cutting its thirdquarter guidance for revenue for each seat flown at one mile, it looks like it is having an effect already on these companies margins. Michael it is. Delta came out and cut its unit revenue. That is a measure of how much it earns per mile. It cut it quite a bit. It cut its operating margins for the third quarter. It does appear that it is having some impact. Delta has issues regarding fuel upts fuel costs have been , that is unrelated to the competition that is weighing on things. Julie when these types of price wars start to happen in the airline industry. How long do they last, these things are cyclical, right . Foro they become permanent a long period of time . Michael if you look at what happened a couple of years ago, american started a price war about two years ago. It caused a Ripple Effect around the industry. It sacked on fares across the industry. It lasted over a year. Investors stayed away from the Airline Sector for well over a year. Finally, about six months ago, things started improving. Airfare started increasing, inc. Festers investors started coming back to the industry. Now it looks Like Airlines are starting a discount again. Go. Gs come and the last one lasted well over a year. Julie do they tend to boost traffic and boost volumes of people who are flying because they see these discounted fares . Michael they could. One thing to note is that even two years ago before the fair war started when affairs were still fairly high, low factors, that is a measure of helpful planes are, planes were pretty full. These things are operating at capacity already. It is hard to say they are adding more people into the full 85n low factors are already percent, 86 of full on flights. You are lucky to have a single one or two empty seats and a whole plane. There are always exaggerate us factors as well. What effect does Hurricane Harvey have on the industry . It certainly has affected united the most. United has a huge hub in houston which got hit hard. It was shut down for about a week. It is starting to return, now. Southwest airlines have a pretty big operation in houston. It has had a bigger impact. I know some of the analysts have said that united might millionce over 260 impact to its third quarter. Kind of less so for other airlines because they are delta and american, they are not super big in houston. Certainly for the airlines, united and southwest, it had a substantial impact. Julie quickly, as you talk about houston, that brings to mind the regional nature of airlines. When you are looking at the price war situation, is it confined to certain areas or is it nationwide . Ishael what is happening mostly it is occurring in the big hugs. In the big hubs. We are talking houston, we are talking new work, chicago, that is where the Major Airlines feel like they can best compete against the dig discounters. It is on big groups. You are talking new york to miami. It is a very popular route. It is a discounted rate right now. Wille yet to new york, you not have a lot of discounting. The big major routes, particularly new york and south florida art deeply discounted right now. Julie got to make travel plans. Usombergs michael joining from atlanta. Thank you so much for that perspective on the airline industry. There are headlines nothing the bloomberg from senator orrin hatch, he says now is the chance for bipartisan compromise on immigration on the plans to end daca. Still ahead, steve could beginning up for his comeback. He is officially undecided about starting a new hedge fund. Others suggest the billionaire is making his way back. You can catch our interviews on the bloomberg with the function tv. It is quite handy. From new york, this is bloomberg. Im julie chatterley in for david gura. Welcome to bloomberg markets, a balance of power with a focus on the intersection of politics and the economy. Here are the top stories. The clock is ticking for. Ongress to act on daca Jeff Sessions announced the end of the obama era of protections for around one million undocumented immigrants. Protests sparked. Chris crowe back will make the case for why the program should end immediately. Meanwhile, washington contending with the escalating threat from north korea. Russia is joining china in rejecting sanctions off me north koreas powerful you nuclear test yet. Julia after months of speculation and mix messages, Jeff Sessions made it official. The Trump Administration is ending daca
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