Drawing on the historical special relationship between their countries. I think the feeling is mutual from the standpoint of liking each other a lot. There was a little but of a false rumor out there. I just wanted to correct it. Here with the latest is alex wayne who is over there in davos. Thanks for joining us. Give us your best take based on your reporting of how the trip is going so far for President Trump. He just got here and he has been treated as you would expect the president of the United States to be treated at davos. He flew in with he just got here delegation on for five helicopters. When he came into the Convention Center he was mobbed by participants at the conference by media members. He has been Holding Court for a couple of hours in meeting rooms. Just letting people come to him. Theresa may, benjamin netanyahu. On for abeen going couple of hours. Hes going to do dinner and reception with a bunch of corporate ceos. There are a lot of people here who want to talk to him. Shery was it a little bit less awkward this time around with theresa may . It seemed to be. I dont know that i quite by his declaration that its all just a false rumor that they have had a strange relationship. We have done a fair amount of reporting on this ourselves. Dayad reporting the other documenting the troubles they have had. Trump has basically told her that he thinks she should do more to make sure he gets a warm reception in london if hes ever going to visit. To take avited him state visit to the u. K. He has not yet but that on his calendar. David tell us about the audience and how receptive they will be. There are at least two different audiences. One is the world leaders. The other or corporate ceos. Thus far it sounds like at least u. S. Ceos are pretty darn happy with him because of those tax cuts. Nothing makes a u. S. Ceo feel better than a giant cut in the Corporate Tax rate. He has built a lot of goodwill with u. S. Ceos are pretty darn happy with him because of those tax cuts. Ceos who are here. It will be interesting to see what happens among the european ceos attending this conference. I will be surprised if anyone walks out of his speech. It is something to watch for generally. Its going to be interesting to see the reception in the crowd when he starts talking and we verye when he makes his nationalist populist remarks. Andy secretary mnuchin commerce secretary ross are there. They made controversial comments yesterday. What are they saying now and how are the crowds reacting . Walked back. Of Steve Mnuchin said regarding the dollar a weaker dollar would help trade. That is not something you usually hear from the treasury secretary. Today he said he didnt intend to depart from his usual position on the dollar which is that he doesnt really care about shortterm fluctuations in the currency. All he will comment on is the longterm prospects for the dollar and thats what he said he was talking about. Wilbur ross said that he did not intend yesterday to start a to say the u. S. Is in a trade war. He meant it merely as an observation that some other countries in his view treat the u. S. Unfairly with regard to trade. David how sensitive are people to the issue of trade . Are there other things they are more focused on . I dont think trade is a huge issue yet. That thesome alarm president has backed out of or is trying to renegotiate big cornerstone trade deals like nafta. The tariffs he announced last week on solar panels and washing machines has some people here rattled. To hear more interested what else hes got to say. Whats coming next. Is he really going to slap some serious tariffs on china and maybe go after steel and aluminum production . Things that would really rattled world markets. Shery alex, thank you. Stay warm. Of theet a check markets. U. S. Equities now at record highs. Theail we have gains for major averages. The dow is solidly higher. Putting in another record high. The s p 500 has also put in a record high. The nasdaq of the least. Both the s p 500 and the the major averages. The dow is solidly higher. Nasdaq flipping between gains and losses earlier. The volatility that we saw yesterday continuing into today. This represents the number of s p 500 members above the 50 day moving average. Conditions could be overbought. Right now we are 84 suggesting we could see a move that would represent a pullback. Over the last decade we have also had times when this has gone above 90 . The momentum could continue but there are lots of readings suggesting the s p 500 in the major averages could be due for a pullback. Helping the s p 500 today microsoft and amazon have had their price targets raised. For microsoft over at jpmorgan. 1800. Johnson johnson higher on the fact that they are not going to be acquiring pfizers consumer unit. Boeing higher by 2 after President Trump and theresa may talked about boeing and bombardier. Investors think they are going to help with the trade dispute. David 1800. I remember when we thought 1000 was an awful lot. After the longawaited tax overhaul what comes next for the gop . Republican senator john holden of north dakota will explain. Drive a deal over immigration and Border Security. Live from new york, this is bloomberg. Shery this is Bloomberg Markets balance of power. Im shery ahn. David im david westin. Time for the first word news. President trump says his administration has a plan in place to establish peace in the middle east. He discussed the matter in davos during a meeting with benjamin netanyahu. Have a proposal for peace. Its a great proposal for the palestinians. I think its a very good proposal. Thatvers a lot of things we over the years discussed and agreed on. The president angered leaders in the region when he recognized jerusalem as israels capital. Mr. Trumps ed today lands to move the embassy there are way ahead of schedule. Iraqs Prime Minister says the Iran Nuclear Agreement should remain in place. The prime minster made his comments during an interview. It is very important. Any claims of relation between the u. S. And iran is harmful for the region. It means there will be some conflict, some friction somewhere and iraq will not be for that. I think we are trying very hard to keep things together. This is beyond us. Nuclear agreement is outside us. The Prime Minister said the could opentensions cracks in the region and fuel extremism. New delhi could looks to strengn bonds with its eastern neighbors as chinas influence grows. The leaders of the association of Southeast Asian nations met in new delhi to observe the five years of ties between india and the 10 nation bloc. Said indiater modi favored a rulesbased order for the oceans and seas and respect for International Law. Its a move likely to irritate na, the u. S. Naval craft Aircraft Carrier may visit in march. U. S. Defense secretary james mattis and history enemies counterpart discussed the matter during his trip to hanoi. Global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Trumps chiefnt of staff john kelly skipped davos to continue immigration negotiations with congressional lawmakers. While President Trump is selling his America First agenda to Global Leaders debates continue at home over the role of immigrants in the u. S. Trump bucks his own administrations message telling reporters he is open to a pathway to citizenship for the socalled dreamers. We are joined by republican senator john hoeven of north dakota. We are now expecting on monday the white house to release a legislative framework on immigration. What do you need to see for an immigration bill to get your vote . I think you are going to see the things we have talked about before. Thats addressing daca but also making sure we have Border Security and enforced Immigration Law as well as addressing chain migration in the visa lottery system. Shery when we talk about Border Security in your calculation does that include a border wall as well . What the white house is planning to release doesnt necessarily included physical wall. I think it will include a physical wall as well as technology and people to make sure the border is secure. And at the same time making sure that we enforce our laws that prevent illegal immigration. David we talked to mark short recently and he said what they needed in terms of security was appropriations not just approval for a ball. He didnt specify a number but i have heard the number as high as 22 billion. Is that what the senate is going to need to get a deal done here . I think so. You are right, it has to be appropriation not just authorization. There have been votes to sohorize building a wall and forth. It actually has to be the money and appropriation. The ranges anywhere from 22 billion to 30 billion when you include money for technology and other things that go to enforcement of Immigration Law. David how are we actually going to get a deal done here . We have those requirements from the republicans and chain immigration issue. We have heard this before. We didnt get close to a deal before. Whats different this time around . Are we going to just keep having this replay again and again . We have to come up with something that can pass the house, the senate and signed by the president. I think youre going to have to and ill of those things think it really reflects what the American People want and that is a solution that makes sure we are not back in this situation in the future. Shery Chuck Schumer complained that striking a deal with the present was like negotiating with jello. You at least understand his stance when it comes to the immigration bill and what he wants out of it and what he wants to put to a vote . He has laid out the things i identified and that is Border Security including your wall, but also chain migration and the visa lottery system. Those are the four principles they have laid out. Were a staunch supporter of the president. You vote with him quite regularly. If he came back and said, this is what i need. I am going to get something on the wall. Its not going to be everything you wanted. Im going to get something on chain migration but its going to define what the family is. What you support Something Like that . Is there room for real compromise on your side . I think thats what you are seeing is a negotiation to get us to that point where we can get enough agreement to pass a True Congress and it through congress and have the administration sign it. Thats why we have to include those elements and thats what the discussion is is how do we get there. Shery we are stuck on immigration. Talks,ll come the budget the debt ceiling. How do you plan to move forward with gop priorities such as infrastructure in an Election Year . Can you do it . We have to dual track this. While we are working on addressing illegal immigration issue at the same time we have to get our colleagues across the aisle to agree with us on some cats caps. This is very important for our military. Where working very hard to provide more funding for our with all thats going on and all they are doing. We have to dual track this and finish out the year and funding bill. David thank you, senator john hoeven of north Dakota Joining us from the capital. Coming up, we will talk to robert ray. Former top investigator during the whitewater probe of president clinton on what could be at stake if trump talks to robert mueller. Thats coming up next. This is bloomberg. Shery this is Bloomberg Markets balance of power. Im shery ahn. David im david westin. Robert muellers probe may be going faster than some people thought with reports that people as high up as attorney general sessions and fbi director comey have already been interviewed. President trump says he would oath. To speak under here with the risks he faces if isdoes speak to mueller robert ray. Welcome. Really good to have you. Keep us honest. The media tends to over report in these situations. What do we know and what dont we know . You would expect the place where we may be and this is clearly the administration subject to get this to the finish line. And the expectation would be that you wouldnt interview the president until the end of the investigation. In other words you would interview primarily everybody pointefore you got to the where you interviewed the president and i think better practice is guidance from the Supreme Court has been you interview the president as a last resort and you only get one chance to do that. Nobody knows for certain. Think the hope of the administration is that the fastest way to get to the end is to make the president available so that the objective can be achieved and that is that bob mueller can confuse dust concluded his investigation and that it is accomplished conclude his investigation and that it is accomplished. David you are probably only getting one shot at the president. There has been some speculation that there are two parts to the investigation. I dont buy that. To mueller was appointed investigate the issues with regard to the election. Russia collusion obviously along the way to the extent that there is any evidence of obstruction of justice or false statements. All of that is a single investigation. That thisy the notion is just the obstruction piece and then we will go on and do our collusion peace and get back to the president later on. I guess there is a first for everything but that would be extraordinarily unlikely. Areoesnt mean that you talking about donald trump specifically. You are talking about the institution and the office of the president and respect of the branches of government and the institution of the offices of the president would seem to counsel in favor of you get one shot at the president. Thats it. Shery that was the impression that i got as well. Lets talk about this meeting that is expected to take place. President trump has said he is looking forward to it. What is the biggest risk for the president in this meeting . I dont think you can parse it into particular things. A Law Enforcement procedure. It is before the office of special counsel. The president has asked that it be under oath presumably. It could have been an interview. Whether its by fbi agents and prosecutors with bob muellers office or a deposition under oath its either under penalty of prosecution for false statements or for perjury. Be a solemn occasion. We understand its likely to happen before the end of this month meaning as soon as next week. Maybe later. Apparently soon. Means that every question that is asked you are obligated to tell the truth. And you do so understanding that you are either under ofo or youre speaking means that evern that is asked you are obligated to tell the truth. To Law Enforcement and if you make a false statement you could be prosecuted for false statements. All felonies. Shery right. Perjury. And prosecution for false statements. David lying to a federal government official. Which would include fbi agents. Bob mueller himself and his prosecutors. Conservatives have intensified their attacks on the fbi. How much does this discredit what we could find out from the probe . I think those are all relevant questions to be asked in the political process. Thats really separate and apt from the issue of the conclusion of a criminal investigation. The president is making himself available so that bob mueller has all the information he would need in order to make decisions about whether any further prosecutions are warranted and if not to report his findings to the Deputy Attorney general and ultimately to the congress and presumably the American People. David suppose you are preparing for the president for an interview. You have some people who have pled guilty. You dont know everything they have said. How do you prepare the president and make sure he doesnt make any missteps . A its clear that he has prior history meaning he has testified under oath before in depositions. Smart person. Smart witnesses are sometimes dangerous in the sense that they need to be counseled carefully about answering only the question that is asked, not to speculate. Not to volunteer information. To be mindful of the fact that you are under oath. To be careful about your recollection. To not guess. To limit yourself to the question. Its a difficult thing and it can go on for hours. I have been through it before. I have been through it as a witness. I have been through it as a prosecutor asking the question and a defense lawyer. It is not easy. David viewpoint out a particular vulnerability i havent thought of before because President Trump, he tends to go off the record. He goes as far as he wants to go and he clearly is really eager to prove to everybody that he has nothing to hide here. In do you persuade him its your best interest not to try and make a friend of this fellow and not to be bombastic, just to the question. You say all of those things and you remind people your client witnesses that appeared before the government that in that situation the government is not your friend. Toy have the ability potentially bring criminal charges against you. You have to be very very careful about what you say. Reviewedl from having try her deposition transcripts the president is well aware of the distinction between making statements in the Public Domain that are not subject to the penalty of prosecution of perjury for false statements and a very significant different scenario that this presents where you are under oath or its equivalent. Thats how much more careful you have to be. Shery this is not his first legal wrangling anyway. This is not his first rodeo. You, robert ray. Former top investigator during the whitewater probe of president bill clinton. Plenty more coming up