Likes it is 2 00 in new york. 7 00 in london. Welcome to bloomberg markets. Julie live in new york over the next hour for the top stories were covering around the world. The world according to george soros. He shares his latest use on markets and the Trump Administration in a bloomberg exclusive. The anticash club. Urging investors around the world to stop keeping money in cash as stock markets climbed to new highs. Broadeninge of a expansion in the global economy. Look no further than caterpillar. We have u. S. Markets closing in two hours. We are back to record highs. The nasdaq has a little bit further to go. At this point we do have record highs, gains for the major averages. Putting in all time highs, the nasdaq had been between gains and losses in the volatility we saw yesterday, the worst day of the year. Overall a bullish tone. The nasdaq has the biggest wade into apple. Apple will launch an ebook reader. Weighing on apple, some analysts are talking about the possibility of week iphone demand and that that might weigh on the quarter. Amazon up 1. 3 . The target has been raised to a street high, expecting a strong quarter. Lets take a look at the defense contractors. Northrup did report. Shares up 3 . It was good enough and we have the peers trading higher. General dynamics reported yesterday. Nice strength in this phase. And the bloomberg dollar index. Tv. Ook to be this is a chart of the monthly gains and declines for the dollar index. On theow it is down month on pace for its worst month in seven years, not shown on this chart but amazing. Steve mnuchin talk about the doctor the dollar. Talking up the euro. That is weighing on the dollar today. Rough times for the dollar. Indeed. The euro specifically is at a threeyear high versus the dollar today. Lets check on the first word news. Mark President Trump his administration has a plan in pace for peace in the middle east. He discussed with Benjamin Netanyahu. We have a proposal for peace. It is a great proposal for the it is good for israel. It covers a lot of the things that were discussed and agreed on. The president ingrid leaders when he recognize jerusalem as israels capital. He said plans to move the u. S. Embassy are ahead of schedule. Paul ryan says mornings to be done to confront iran. He is in the united arab in rates, leading a congressional delegation addressing the emirates diplomatic academy, he said the u. S. Wants to challenge irans ability to threaten the region with Ballistic Missiles and stop its expansion across the middle east. The u. S. s war can warning turkey to watch its step in syria. Any miscalculation by Turkish Forces fighting u. S. Backed Kurdish Militia could result in grave consequences. President trump want of a showdown between turkish and american troops. Republican senators emerging from talks on immigration plan today say they like what they have heard so far. This is aboutid Border Security. It is about fixing the holes in our immigration system that allow criminals and others to take advantage of it, but also about a compassionate solution for Daca Recipients. The plan being discussed could provide a pathway to citizenship for hundreds of thousands of young people brought to the country as children come now here illegally. President trump said he is open to such a plan. Global news 20 for hours a day powered by 2700 journalists and analysts in 120 countries. This is bloomberg. Scarlet thank you. We have some news here, the president told cnbc he wants to see a strong dollar. , itare seeing a move here is lower versus the yen and we see the bloomberg dollar index paralleling that decline. Theme mnuchin dollar comment was taken out of context according to trump. Thep has talked about helpfulness of a weaker dollar for u. S. Companies. We are going to dig into this more later coming up. First, earnings. Earnings season is in full swing. We heard from caterpillar that industrials maker posted sales that beat estimates. 2018higher earnings for and earnings estimated. Surging chinese demand and that weaker dollar as well lifted sales of the yellow machine. Roundup, an earnings and Michael Regan who leads our coverage. Taking a Bigger Picture look, lets start with you am a job. It is such a topic right now. It is important for a company like caterpillar that gets so much sales abroad. The words coming from mario draghi this morning, i have covered gold in the past. The fact that it was affecting caterpillar struck us. After the earnings call, i asked are you worried about a trade war . Referencing these comments . He said we are not worried about a trade war. We spoke about steel tariffs. The fact they are having to address this was massively interesting to us. The Bigger Picture story is it had four years of struggles. Falling sales. This Global Growth came just in time. Absolutely. When you look at the fundamentals, they are in a good place. They have continued to give revisions higher on their revenue, they have continued to beat on top and bottom lines. We got from them in this latest quarter them saying across the globe we are seeing positive movement, brazil to china. Things look good. I think at this point analysts are looking for something that suggests it isnt going higher. That is where we have this expectations game. Are they going to surprise us more than we expected or are they going to come in slightly lower . That is the price action we have seen in the stock which has been all over the place. Talk about these things helping caterpillar, they sound like a should be helping most Companies Must special with international exposure. They are. Earnings season is coming off as advertised. We are at 9. 8 growth for the 119 companies that have reported. Obviously the expectations were for 12 growth. You say how is 9. 8 good news . Mainly because most robust growth is coming from the energy and materials companies. They are still very early in the season. Companies. Caterpillar is very much a commodity story in it of itself. The growth has been broadbased of the 11 sectors. 10 are showing growth. The only one that is not is industrials. That is really a ge story. But for the story going forward, the expectations for the entire year. I dont know how many times we have been sitting here saying the forecasts are coming down. This year is the opposite. If you look at s p, it started the year at 145 and change. Now to 152 per share. Ongoing rally we have seen when these expectations continue to go higher. Scarlet a big reason has to do with taxes. What did caterpillar say on the tax front . They are going to pay a rate of 24 in 2018. People had kind of figured out compared with . I dont want to miss quote but it was in the 30s. A significant change. This is something caterpillar had been clamoring for since the trump presidency. We console he asked about trade but they kept saying we want tax reform are they finally got it. Scarlet they are also getting rising Commodity Prices as the dollar continues to weaken. We are looking at gold prices turned negative following comments out of President Trump about how he supports a strong dollar. That is inconsistent with what he said in the past, and doesnt really mesh well with what the treasury secretary said earlier this week about how it benefits the United States and trade. When you look at Metals Prices and you cover gold, copper, are theyat extent moving in response to currency fluctuations as opposed to the supply picture . Apply demand a picture has been the driver. The industrial commodities are a different story. When you have treasury secretaries and the president of the nine states discussing the dollar that is going to have a direct impact on commodities. They are priced in dollars. You are seeing that in gold now. It appears that is what is happening. Our thanks. Thank you. Coming up, the secret to firstyear success may be about the price of the hotdogs, beer and pizza. Steve cannon, just ahead. You can contact us on twitter. Also watch the first Global News Network streaming live on twitter. Here is one of the highlights on the pay gap between ceos and their employees. Ceos earned 30 million. 347 times more than the average at those firms. That is a big gap. It has why didnt drastically. This begs the question, why do bosses arent so much . Do they work that much harder . There is no clearcut answer. There are clues. Began paying bosses with shares of said of cash. That has been a good deal for them. Time executives began comparing paychecks with those of their peers using data from consultants. That put pressure to pay well to show how valuable their ceo was. If everybody is paid above average from the average keeps going up. How much money is too much . That debate still goes on. Companies say they have to pay top dollar to get skilled managers. Critics say that is not true. U. S. Companies must disclose the ratio of ceo pay and the median worker. That is what lawmakers put in place to narrow the wage gap. Including starbucks will walmart, disney have said they are raising worker pay and giving bonuses. It remains to be seen if executives will get raises. Twitter. Ind me on get the latest updates at ticktock. Julie this is bloomberg markets. Scarlet the side of next years has a vintage year about. The stadium, home of the Atlanta Falcons and Atlanta United finished first in the fans survey for food and beverage. The reason, a Game Changing new approach to concessions. Here to explain and break down the numbers, the Parent Company of the falcons and Atlanta United, five dollar beer, to dollar hotdogs, three dollar pizza. We live in new york. A bottle of water is six dollars. Most stadiums around the country , you are going to pay inflated prices. 50 reduction in pricing. Tell me about the numbers for what it means in revenue. Upspending per fan has gone 16 despite a drop in overall pricing. We listen to our fans. Is oned beverage pricing of the biggest pain points in the pain Fan Experience. You put that picture together and it is a sore point across the country and that is what this is trying to address. Volume goes up and prices come down. Does that have a Ripple Effect into other parts of the experience . Do people spend more and other ways . They are buying more things. More transactions. We set a transaction record. During the National Football championship the most transactions theyve ever seen in one of their sports arenas. Our three point is terrific. We are trying to create the environment that invites people in. We are getting people into our building earlier than ever your before ever before. The obstacle has been removed. Before kickoff we have 6000 people in our building consuming, interacting. It is relieving pressure at the entry gate so we dont have that lastminute phenomenon. It is creating a better entry experience. They are feeling better about consuming, spending 88 more at the merchandise counter. There is a systemwide impact for this. It is not just about the experience whether the team is winning or losing. This is a pretty good season for the falcons. Do you expect to have some stickiness. Now that you introduce this in a good season, do you think that experience will keep people coming back even if the team isnt winning as much . Thehis tracks all of elements of the Fan Experience during the game. They do move up and down slightly depending on a win or a loss. Food and beverage stayed rock steady at the highest level. Clear validation from advancing we love what you are doing. Keep doing it. Have you heard anything from your peer group . What was the reaction . Was there universal outrage . Is anybody saying tell me more . Skepticism, this early loss leader that is going to raise prices . We are committed to the pricing. You will see the same pricing at the super bowl. For our superof bowl next year when we are the host. That is part of our brand. Folks are 100 behind it. Now we have find found that skepticism is turning into interest. Otherad basketball teams, soccer teams and football teams that have come through and asked intelligent questions. The conversation has started. Anything like opportunistic price rising but volume prices have been rising. Rising inflation is now a narrative taking place. What is your thinking about how you will do price adjustments . We are going to push hard to offset those input rises. That is going to be our challenge. We do not want to see prices increase at all. We want to make sure consumers believe us and dont think this was a oneyear phenomenon. The burden is on us to become more efficient. They are creating more volume than they used to. Weevil make sure the Work Committee economics work out in the way of the fan. Julie how about wage structures . In the survey, the Service Rating was quite high. That does not imply people are making less. We paid more than the georgia dome. We went through an extensive sevenfigure Training Program for our staff. We knew if we cant deliver the human factor, the hospitality aspect, the best stadium in the world is going to be marginalized by that. We have invested in our people to amplify the infrastructure and the great pricing. Scarlet lets talk more broadly about the nfl. Have been falling. There is cord cutting from a to another platform. Also changing demographics as well. Have you change the way you do things . The pushback against the league, these declining ratings . , theross the league Atlanta Falcons included, all of these inputs are being taken seriously. It is not like there is any attitude that says we are ignoring the ratings. Board we are listening to players, we are listening to fans. Our effort is about creating the most attractive experience, knowing if we bring the men and create an environment allows them to check troubles out the door and have an amazing experience ultimately that will be rewarded. While ratings have dropped it is still by far the best game in town. All ratings have dropped. The whole media landscape has been fractured so much. ,ith new consumption pattern everybody is feeling that pressure. Valued is still a highly media property. We are not win to take anything for granted and we are going to continue to tweak the model. Thank you for selfish reasons, we hope this catches on in other places. Maybe it will hit new york city. We really appreciate it. Time for the Bloomberg Business flash. The biggest business stories in the news now. Bank of america trying to close the pay gap for women and minorities. They will impose restrictions on questions about Salary History and interviews. The recent review found women make 99 of what their mellow , 90 hannafords aren percent of what nonminority colleagues are in. Weight watchers shares lower today. She said she lacked the dna to be president. This is bloomberg. We use our phones and computers the same way these days. So why do we pay to have a phone connected when were already paying for internet . Shouldnt it all just be one thing . Thats why Xfinity Mobile comes with your internet. You can get 5 lines of talk and text included at no extra cost. So all you pay for is data. Choose by the gig or unlimited. And ask how to get a 150 prepaid card when you buy a new lg x charge. Its a new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Scarlet from bloomberg World Headquarters, this is bloomberg markets. Mark is closing in new york. T is reversing President Trump says he supports a strong dollar. Precious matt Precious Metals had changed. Since 2014,est before getting back the gain. Crude had been helped by following stockpiles and robust demand. And cocoa, extending its move higher. It was down briefly but it is now up 5 . This is the longest rally since october on signs the global surplus may ease. Talk about theo dollar following treasury secretary Steven Mnuchin saying a weaker dollar is good for the u. S. Trump saying his comments were taken out of context. He said ultimately i want to see a strong dollar. He has acknowledged it can be good for u. S. Companies. We definitely saw a movement upwards. You can see downwards following this. We will see in the coming days as the president continues his time what other commentary we might get on the u. S. Currency. Lets check the headlines now with mark crumpton. Is confident may of getting a satisfactory postbrexit trade deal with the eu. She spoke in davos. R. I. M positive we will be able to get a good arrangement for the future, which is a comprehensive trade agreement for the united kingdom. The reason i believe we will be able to come to that is because what i see talking to other leaders is we are pragmatic about it. Mark Southeast Asian leaders are celebrating ties with india. The leaders of the association of Southeast Asian nations met celebrate ties between the block. They said india favored a rulesbased order for the oceans and seas, and respect for international law. Jared kushners legal team is denying the trump advisor and interview declined a with congress. The Senate Judiciary suggested spooked after the surprise relief of age