Asia. What happenedcuss on President Trumps first overseas trip. We will analyze that and figure out what that means Going Forward. It looks to be a quiet week as u. S. Come u. K. , and china markets closed. That ninth ofring the stigma still, but a lot happening on the data front. Speakers. Several fed atindeed, lets take a look Market Reaction. Markets closed on friday and unchanged on friday, a lot of economic members straight ahead in the u. S. , including housing, on friday. Looking at the market so far, the only market open is new zealand, a touch lower here. To be starting things next given how thin trading is likely to be today, but heading lower when it comes to the nzx 50. Lets head to australia real quick. We did see recovery after that group meeting. Pretty soft open for the aussie dollar, but looking to the upside on the asx 200 today. Japan, north korean concerns, but someof risk off strength for the japanese yen, 11. 22 ithave seen a pause when comes to this equities rally, but it seems no surprise six weeks where stocks have surged to records. The breather we did get on friday come in indeed. Lets roll the boards and how markets closed to finish the day ahead of a long weekend, no one wanting to take a strong position ahead of the long weekend. The s p barely higher, the dow the nasdaq higher. , watchingto report the jobs report and the fed meeting in the weeks ahead, those will be the big factors for the markets. In the meantime, lets get to first word news with paul allen. North korea has fired another missile, its ninth this year, seemingly in response to the u. S. Beefing up its forces in the region. In whatnimitz will join north korea says his preparation for war. 14 inial profits rising april to more than 83 billion dollars, building on the jump of 24 in march, and 8. 5 the year before. The National Bureau of statistics said 38 of 41 industries achieved better profits in april than earlier thanks to strong overseas demand an investment. Airways says most of its Computer Systems are running normal again. The ceo says the carrier plans to operate all longhaul services into and out of london today come up at the after affects of the weekend direction will mean delays. German chancellor Angela Merkel has given the strongest indication yet that europe is drifting away from the u. S. Under President Trump. Speaking to voters she said relationships torched since world war ii are to some extent over. She was with the president at nato and g7 and said europe must now plot its own course and not rely on america and britain. President trump has lashed out at fake news after wrapping up his first foreign trip without holding a single press conference. Only onedent was the of the leaders who declined to take a single question. House, the the white president tweeted, many of the leaks are fabricated lies made up by the fake news media. Vietnams Prime Minister says he is confident Economic Growth will meet the goal without adding to inflation. In that exclusive interview, the premier said the country is taking steps to boost the economy to keep its status as one of the worlds fastestgrowing economies. He will meet President Trump at the white house later this week. Strategye a detailed to achieve growth of 6. 7 . I will give you a hint of some very good news. The data in april and may shows androng pickup in exports also agricultural production, and that will lay the groundwork for growth and third and Fourth Quarter this year. Paul global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. I am paul allen. Thank you so much. The week ahead on wall street will have a lot for investors to digest as they come back from their long memorial day weekend. Su keenan more on what to expect. Of earnings, a few reports and some headlines. Lets talk about the economic reports. Week, thesetes last numbers will be important. One thing front and center will be the monthly jobs report. Economists surveyed say workers likely continue to be employed at a robust rate. We saw job growth supposedly expand at a steady pace in may. Rate alsooyment seen as steady. Is the highlight of a busy week that includes personal spending, manufacturing. If we talk about what to expect, economists surveyed expect Earnings Growth to the field by spending or powering more alsoing and april, but seek factory activity expanding at a strong pace. Thatd anemic growth in First Quarter, so this is the expectation and any disappointment could have a negative impact on the markets. Seen the market recover from that selloff wednesday, so what is ahead for the president now that he is back . Su he tweeted upon returning from the nineday overseas trip, bashing the media for socalled fake news. When we look at his international journey, particularly the g7 meeting, was that he did not talk to the media, refrain from a lot of comments, and when he came back, it has been overshadowed by the fact that there have been headlines about the soninlaw and russia. Chart, to go into a 8821. When he was with the nato countries, he talked about spending, and that was anticipated. To the far right, you see an uptick and spending. We are expecting again trump to across alling sectors, and many on wall street say if he fails to do that, there could be negative reaction. Some other trump headlines. He was concerned over increased media reports that his soninlaw Jared Kushner is perhaps involved in the russia communication probe. There will be more on that likely coming ahead. There is an expectation of the meeting with vietnams Prime Minister, and the friday jobs report is expected to be something if positive that the Trump Administration will take credit for. Right. Will see what happens when he comes back on. Lets talk about the earnings and companies in the spotlight this week. Andwe are getting detail end of the season, but being watched closely. Packard is one of the severals, ryanair, and others. The Auto Industry is in focus because last month there was a big disappointment in the numbers, good, but not great, month is expected. One analyst from j. P. Morgan is dayioning that the memorial weekend makes it a difficult month to predict because of that three day weekend and you dont know if people go to the beach or the lot. Facebook and exxon also holding major shareholder meetings. Thank you. Still ahead, we will unpack the data this week from the u. S. And asia. The bank of singapore joins us a little later on. Mr. President. , what is donald trump returning to after his first overseas trip . We discussed that straight ahead. This is bloomberg. Counting down to asias first major market open this morning. Japanese futures really not budging that much, less than an hour away. Good morning. And i amdaybreak Asia Betty Liu in new york. Divide between the u. S. And g7 allies as leaders met in sicily over the weekend. Said europe and america are drifting apart has President Trump refused to back the paris climate deal. This summit will be remembered as the first such meeting for four at the g7 members that was completely new theresa mayaders, of the u. K. , donald trump of the anded states, and italy france. It was donald trump who became isolated on the issue of Climate Change. Went so far as to say it was six against one around the table during the trumplate on friday when was unable to say how he would proceed on Climate Change and was unable to commit to the paris accords. Angela trade, what merkel said were tough, intense negotiations that lasted well into the night when they manage to come to her resolution which far official said fell back from what had been agreed in previous years. Essentially many of these issues have been kicked into the long grass and it will not be before the g20 next summer when we will find out how these issues will be resolved. And staying on that, President Trump back in the white house saturday evening after a somewhat controversial his twitter which did not blowout. It was pretty restrained on his social media at the very least. Some of his advisers are saying this was a pretty successful that they could not have asked for anything better. What do you say . The expectations in the United States were rather low. Was as long as cause aident did not major incident, aside from shoving aside the president of montenegro, it was a successful trip and the president managed to advance some significant deals with saudi arabia on defense spending. Some goodnaged to do things during his other stops in israel, for example, so certainly his advisers will look at the trip and say it was a success. The question now is what kind of environment does he face at home as he tackles and the dishes an ambitious agenda. Rift betweensing a what is normally a very easy relationship with european countries, and in particular in germany. I wonder if he will regret that later. I want to play back for you some comments from Richard Haass and what he made of this. They see him and scratch their heads and go, this is not the United States i thought i knew. They loved barack obama. They were so comfortable. Look at the difference in the between Angela Merkel sitting with barack obama and donald trump. It really is night and day. Is that going to be something that will come back to haunt President Trump . Know that it will. First of all, President Trump was going to reflect a certain withinuency certainly the Republican Party on the issue of Climate Change. There remain significant disagreement within the party. He is reflecting a point of view that is similar to that of people he has appointed, people ,ike scott pruitt or rick perry people who are skeptical on this issue, so he was reflecting that skepticism, and there is no question trump is more comfortable with leaders in the middle east then he was in europe, and that reflects a change in tone from the previous administration. The substancejust with europe and the middle east, but also the mannerisms and the way in which the president conducts himself. Political have the leverage to tackle what is happening at home, this crisis that seems to have only grown while he was abroad, talks of a private legal team, a war room, similar to bill clinton in his scandal. Should we expect a different way the white house communicates with the public moving forward here . If it will bew different so much as they will be taking all of this overhang from the Russian Investigation much more seriously and confronting it much more ahead on, which from a Crisis Communications point of view is probably the right thing to do. And theya is crowded will be competing for time and space, tax reform, health care reform, infrastructure reform, all significant issues that have big impacts on markets and issues the president has committed to handling. Will he be able to do that while also fending off special investigator investigations . You see optimism fading when it comes to tax reform. , actual tax reform coming into question now. Haidi think republicans are viewing tax reform in this Russian Investigation, Robert Mueller and his probe into russian interference . I think paul ryan and Mitch Mcconnell and the Senate Leadership would do their best to keep the focus on issues and do their best to move the ball forward in the senate on health care reform. That will be the big issue during the july for holiday, and resteform is next up, and assured that paul ryan and Mitch Mcconnell and all the Republican Leaders in the congress desperately want to make progress on tax reform because they recognize that is an issue that for the most part unites republicans. Some other issues, and for structure or health care, divides the party comes of get tax reform, better. I want to bring you back to some news that happened a few hours ago, north korea firing yet another missile test. I have not cap count, but this is certainly the most i remember in such a short time that we have seen from north korea than in previous years. North korea clearly sending some signal here. Reallyh longer before we need to see some action from the u. S. On this . Anticipate we will wait much longer before theres going to be something definitive from the u. S. Meanis not necessarily military engagement come up at the u. S. Has to figure out how they will directly engage north korea. This is something donald trump said he would do differently from his predecessor, and then he went on to have a direct un, asion with kim jong lot of backandforth, no action yet. It is clear the north korean regime is trying to test u. S. And President Trump domestically will have pressure to act with respect to north korea soon. Thats right. We have not talked on the other ther storm firestorm, firing of james comey. Now there are these reports about Jared Kushner and his alleged ties with russia between the campaign and russia. Do you expect that this will now escalate even further into involving Jared Kushner . It is hard to say. With respect to the investigation, this is one of the challenges the white house faces now, which is that a special counsel has been appointed, so in some ways the pressure is off them. U. S. , these special counsel investigations can start a and wind up someplace completely different, so we will have to see where this investigation goes to that is of concern to this white house. It is like a cloud that hangs over the entire effort of President Trump to advance a conservative policy agenda, and submit to republicans around the country as well. Great to have you. Joining us from mountain view, california. One feature we like to bring to your attention is our interactive tv function, tv. You can watch us live in see previous interviews and dive into securities are bloomberg functions we talk about. You can also become part of the conversation when you can ask a question to our guest. This is for bloomberg subscribers only. Check it out at tv. This is bloomberg. Good morning. I am betty liu in new york. I am yvonne man in hong kong. Bhp told shareholders it is it by waiting several options for its shale unit. They will carry out a white a review of the energy operations. Bhp has been claimed to have destroyed 30 billion of value. Andrew mackenzie told investors that it will consider selling part of its energy portfolio. Tosoftbank has declined comment on the fact it may raise its stake in nvidia. Ins fourth largest shareholder with a holding valued at 4 billion. The ceo Masayoshi Son says he believes it is a leading tech investor in the world. And oh sockocasino from tokyo when japan legalizes gambling. To sayernment has yet where casinos will be allowed to operate or who can run them. It estimates the japanese market could be the most lucrative in the world. Prefer of it would osaka. Fun, and we are a company that focuses on fun, entertainment, and attraction. We pride ourselves on having the hotel, restaurant, and topic top amenities. We have the most michelin star restaurants comes of these are the important elements we want to bring anywhere globally. I wonder how people in tokyo feel not being as fun . Much more ahead. The latest numbers live from beijing straight ahead. This is bloomberg. Yvonne 7 30 a. M. Monday, starting off with a beautiful weekend in the city. We are a few minutes away from the asia open. Betty it is a better weekend in new york, although it is hazy on the skyline. It is better than it was with the Rainy Weather the last 48 hours. P. M. In the big apple. Yvonne you are having a long weekend. First things first, first word news with paul allen. Embattled south african president jacob zuma is said to have survived a bid to force him from office. Votedecided not to call a of confidence despite the president facing increasing pressure to step down. The decision to finance fire the finance minister in march sparked public protest and the Credit Rating to go down. Police have arrested more people in the Manchester Bombing with 30 people in detention. They are working on the bombing, trying to determine if he was acting on his own or part of a wider Terror Network. The Ariana Grande concert killed 22 people and wounded 100. Just downgrading the city debt rate was based on shallow evidence. Hong kong schools relationship with china cannot be considered negative as the mainland has global growth. Moodys cut them for the First Time Since 1989, going with hong kong hours later. Googles gameplaying Artificial Intelligence program created a three match sweep of it human opponent. This chinese player has been playing since he was 10 and said not a machine could be him. Alphago is is perfect. Veterans say it will be years before computers could master the game. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Thank you. We are counting down to the major market open in the asian fake. Lets go to markets reporter adam haigh joining us from sydney. Good story good morning to you. Starting flat, seems like markets in asia are poi