area hospitals and we will have the latest on what caused the accident. investors have 's attemptelson peltz to get on the board. qatar airways extending its -- expanding its routes in the u.s.. pimm: good afternoon. i am pimm fox with betty liu. let's get a check on the equity markets. 2100,ly higher s&p 500 at a gain of maybe two points. dow jones adding three points. quarter of arly a percent.

let's take a look at the oil markets and some commodities. the dollar showing weakness today. nymex crude up about .4%. gold up nearly 2% today. betty: inventory shrinking in the u.s., causing that bid in oil markets. the bond markets, the dollar is falling. bitks dropping quite a based on those retail sales numbers. the yield unchanged for the two-year. the tenure is still being bid up. the dollar at a three-week low. let's get straight to the top stories at this hour. we begin in philadelphia where authorities say six people died in last night's amtrak crash. 140 people were injured. there has been a potential breakthrough for the investigators trying to figure

out why the train derailed. ,> whatever is comparable referred to as a black box, that has been recovered. it is now in the amtrak operations center in delaware for analysis. we have no information from that particular device at all because it is currently being analyzed by the experts. amtrak has suspended service between philadelphia and new york. for the first time since losting -- nelson peltz his activist campaign. dupont shareholders have rejected his attempt to get on the chemical makers board. inproposed splitting dupont two. ellen kullman was not claiming victory. it was never about winning or losing. this was about the future of the

company and how you create the greatest shareholder value going forward. the shareholders have been pleased with the changes we've made as a company. says he hasn peltz created significant value for dupont shareholders. we will see whether they can hit their target. americans keeping their wallets in their pockets. no gainsles showed last month following a revised 1.1% rise in march. the biggest in a year. seven of the 30 major categories showed increases. there were declines and items among cars, furniture and electronics. millions more cars being recalled because of faulty airbags. toyota and nissan and 6 million vehicles. takta. airbags made by moreast six deaths and than 100 injuries have been

blamed on the faulty airbags. an art auction in new york city raises $88 million. an abstract sold for more than $46 million. some of last nights's buyers will donate the works to major museums. president obama meeting with leaders from saudi arabia and a day before his persian gulf summit at camp david. one person who will not be at thesummit, the king -- white house insists his absence is not a snub. the price of oil moving slightly higher again today. unexpectedly shrank last week. the second consecutive week that stockpiles have been smaller. new york oil trading above $61 a since the low in

march. president obama also try give your out how to get that asian trade deal back on track in the u.s. congress. up to defeat ad test bill on the agreement. they denied republicans the 60 votes needed to advance the bill. bernie sanders said most americans would not benefit from the trade deal. >> the trade agreements pushed by corporate america, pushed by wall street, pushed by the pharmaceutical industry are very good if you are the ceo of a major corporation. they are a disaster if you are an american worker. mitch mcconnell of kentucky says he would work to bring the measure back for another vote. he seeking support from business to put pressure on the democrats. , theook has a new partner new york times. the social network has reached

agreements with the times and other media outlets to publish articles directly to the mobile newsfeed. ,mong the other partners national geographic and buzz feed her to facebook has been trying to improve the quality of the news that appears on its feeds. a hawaiian island closed to visitors. the oracle chief executive anai.t 90% of l he wants to make it the first economically viable 100% green community. ellison is the world's seventh richest person. those are your top stories. much more in the next hour. qatar airways expanding its routes in the u.s. pimm: something you know about very well. the showdown over the future of

dupont. president obama holds a bilateral meeting with two top saudi officials after the king of saudi arabia turns down his invitation. we will have the latest from d.c. pimm: last week, qatar airways announced expansion of flights to more u.s. cities. it already serves 10 major american airports, it will now add los angeles, atlanta and boston. these plans come at a delicate time before persian gulf airlines -- the u.s. government is investigating whether the carriers benefit from unfair government subsidies. covering this story for us is matt miller. he joins the ceo of qatar airways in washington. matt: thank you so much. thank you for joining us.

let me ask you whether the gulf carriers are now going to respond to the u.s. carrier's white paper that alleges they take market share with the benefit of $42 billion in subsidies. theseon't think allegations are correct. we need some time to look at and study the allegations the american carriers have made against us. --e-notwe have not had insight we will listen to every allegation. which is absolutely unfounded come in my opinion. you are abley to fly routes at a loss in order to take market share. we have seen emirates release .ts earnings come at th only qatar airlines has not

released its numbers. are you making a profit? >> yes, we are making a profit. obtainings they are our accounts from the back door, they will realize we are a very profitable company and extremely profitable on the operating level. matt: i wonder what you think of the u.s. subsidies. to a wikileaks document, american airlines have done wondered $55 million in subsidies over the last winter nears -- $135 billion in subsidies over the last 100 years. how the you feel about the way u.s. airlines are positioned here? a i think they are doing proxy battle for their american alliance partners. i don't think we are causing any harm whatsoever to any american carriers. they don't operate into our network. they have very few destinations they operate directly out of

here. have a very high standard of in-flight service to our passengers. chapter 11 is a huge subsidy that is indirectly given to them. they got them twice in a. ofeight months -- period eight months. they're trying to hide behind the allegations that they are making against us for their failure to provide to their passengers the high standards of in-flight products. the high standards of cabin products, the high standards of in-flight service and attention that we provide to the well-deserved american public that fly on qatar airways. matt: you are buying a lot of new plans come operating a lot of services. you have a lot of room on those planes. they are not all full. you making a decent return on your investments? what is it?

>> absolutely we are making very decent returns on our investments. not as much as the american carriers. we are buying new airplanes to fuel our expansion, yes. a 100% loadays have factor. the load factors we have with an efficient operating cost, yes, we are doing well. matt: we have the airshow in europe next week. you've made some orders for the dreamliner. you want more. how do you feel boeing is progressing as far as filling the orders you have in? >> boeing is doing a fantastic job in supporting our dreamliner's. we are flying them for nearly three years. we have a large number of dreamliners to deliver. we have ordered a large number to a place our current fleet of

triple seven. we are really a partner of the industry in the united states. matt: definitely a feather in your cap. are you meeting with u.s. congressman and senators? senators, meeting any but yes, i'm meeting the -- i y of commerce.ar i'm the last of the three carriers to visit the capital. matt: one of the three american anderson washard concerned that you are so worried about 9/11 subsidies, he made a comment that the terrorists who committed those crimes came from the arabian peninsula.

you felt that was an patriotic and weak. he has apologized. do you forgive him? >> i always forget people, but i will never forget. we are not a nation of terrorists. with the alliance united states to fight against these terrorists. what he has said will never be forgotten by me. for joining us. ceo of qatar airways. betty: thank you so much, matt miller with the qatar airways ceo. pimm: still ahead, the showdown over the future of dupont. betty: investors reject nelson peltz's attempts to get on the board. the stock is down right now. what is next for the biochemical giant? ♪

pimm: welcome back to bloomberg market day. betty: let's get straight to a check on how the markets are trading right now. julie hyman has more. holdingtocks are on to gains today. the dow is up less than seven points this time. the s&p 500 up .1%. the movement today goes back to the retail sales report this morning which come on the headline number, shows no gain in retail sales last month even after you back out all -- the number up .2%. all of those numbers worse than economists estimated. that leads to extrapolation

about what this means or the federal reserve. doesn't mean they can be on hold for longer in terms of when they will raise rates? that seems to be the perception in the stock and bond markets. in treasuries, we are seeing bonds of treasuries -- buying of treasuries. nonetheless, not much movement upwards compared with what we have seen in recent days. the perception in the currency market is this economic data what's not -- was not a good sign for the u.s. economy. we see the dollar falling. that trend has remained intact throughout the day. also wanted to check on crude oil prices. today, we got inventories report that showed a larger than estimated drawdown in inventories. that would be good news for oil prices, but we have seen oil come down to some extent, paring its earlier gains.

refineries did reduce their crude used by the most in three months -- hotter months. -- four months. betty: thank you so much, julie hyman. as she just told you. three gunmen jumped a board a bus in pakistan and killed 45 people. the attackers escaped on motorcycles. military groups ranked -- link to the taliban are claiming response ability. where rescue teams are searching for survivors after the country's second fatal earthquake in less than three weeks. 65 people died in the latest quake. a u.s. military helicopter aiding relief efforts still missing. six u.s. marines were aboard. north korea's defense minister has reportedly been executed for falling asleep at an event last

month. south korean intelligence services it's a kim jong-un had the official killed by a firing squad for napping at a rally. experts say the execution may hurt stability in north korea. those are your top stories this morning. pimm: what is a gallon of water worth to you? it's about a penny a gallon. compare that to what you would pay for a gallon of gasoline or a gallon of milk. cent per gallon, water is the cheapest utility out there. despite the fact that our water infrastructure is in need of $5 trillion in upgrades and repairs. we asked the president of american water works. >> we are not recognizing the true value of water. -- we havehave not

not over the past several decades make that investment. water is artificially low. now that we are having to make additional investment into water and wastewater, we will start seeing some increases in those prices. bottom line is you may be paying a bit more for your water. -- what'st's really going on in california. the drought. you were reminding me about this story, the water brand from starbucks. they were sourcing water from california, sacramento, california because it's this whole idea that americans are so wasteful, they don't even care that in a drought stricken state, their drinking water from their. we take it for granted. pimm: buying bottled water, you

are paying for it. many municipalities, you don't have to pay for the water. someone has to pay for that infrastructure, as the story said. coming up -- betty: a different kind of player. the walkman. a far cry from the cassette players that dominated the 1980's and 1990's. ♪

betty: sony has introduced a new walkman. it costs a whole lot more than the one you had back in the 1980's. a review of this modern take on the classic. walkman is onony like any walkman you have seen

before. plays high resolution audio files and will set you back $1200. this is not one for the casual listener. it's really well-made. the metal bodies a textured leatherback and gold audio jack telling you the components inside our top-of-the-line. it feels like a serious piece of audio quitman -- equipment. inside is a 128 gigabyte hard drive. you will have to expand quickly with a microsd card to hold those larger audiophiles. -- audio files. buttons --physical they are hard to get used to after using a touchscreen for years. the question is how it sounds pretty listening with a pair of quality headphones on my couch or desk, music sounded incredible. it was rich and textured and i loved it. the moment i stepped down into the real world come any

noticeable difference disappeared. there are too many distractions and some ambient noise. i love the idea of a high-end gadget that does something really well. considering the limited benefits and the steep price, i'm giving it a pass. by a good pair of headphones instead and say that cash for the next taylor swift album. betty: why do i want to carry two different things? quite do i want to carry my phone and that? pimm: it may be a music player you use at home. it doubles as a digital analog converter. you talk about the sound quality, having good headphones is important. you can spend as much as you want on that as well. there is a specific market this is going after. ande are other high players, some cost as much as i'd thousand dollars or $6,000.

or $6,000.00 specialty, fora those who really care about their music and our big aficionados. for someone like me, i don't know. people that are influenced by buttons and lights and everything. betty: and have $1200 to burn. we will say goodbye to you, pimm. we will have much more ahead in the next half hour, including #winning. -- elleno alan coleman kullman. don't go anywhere. ♪

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betty: "bloomberg market day." welcome back "bloomberg market day." to. in philadelphia where a

30 family six people died in last nights amtrak crash. more than 140 others were killed. there's been a potential breakthrough for the investigators trying to figure out why the train derailed. >> whatever is comparable as we know it often referred to as the black box, that is been recovered. it is known the amtrak operation center in delaware for analysis. we have no information from that particular device at all because it is currently being analyzed by the experts. betty: amtrak suspended service between philadelphia and new york. that is part of the busiest rail corridor in the u.s.. president obama meets with leaders from saudi arabia a day before his persian gulf summit at camp david. the president is trying to hissure apprehensive allies strategies to defuse regional conflicts could lead them -- leave them foldable. four of the six gulf nations will send devotees rather than

heads of state. in some cases, because the rulers are in poor health. the european union is planning to go after the criminal gangs for smuggling migrants from africa. eu leaders have stepped up their efforts since last month when hundreds of migrants died when a ship sank in the mediterranean. the plan calls for a naval operation that would stop votes used by traffickers. the eu wants to improve how the gangs movements are tracked. chicago's credit rating has been cut, and i may cost the windy city more than $2 million. booties has lowered the credit rating to junk. that allows banks to demand that debt be repaid early and also triggers fees for inning swap's contracts. there a manual place to refinance -- mayor rahm emanuel plans to refinance debt to reduce those penalties. and those are your top headlines. coming of the next half hour, and the battle over the future of dupont, investors have rejected an attempt by activist

investor nelson peltz to get on the board. we will hear from ellen kullman. japan's three biggest carmakers recalling another 6 million cars because of problems with faulty airbags that can send shrapnel flying into passenger compartments. we will have the latest on how the asian markets reacted to that news. president obama holds a bilateral meeting with two top saudi officials after the king of saudi arabia turned down his invitation. we will have the latest from washington on that. it is the business story of the day. ellen kullman, the ceo of dupont, prevailing in a proxy struggle with activist investor nelson peltz. shareholders rejected a plan to add peltz and three others to the dupont board. and as per the company into. in addition to cutting up to $4 billion in cost. with me on location and aware -- jack caskey.s jack, i just spoke with nelson a

few moments ago. he said, look, he was defeated. one of the things he did not expect and did not focus on was the retail investor turnout. what happened? dupont put a big effort into getting the retail investor code out. they normally don't vote in very high numbers, but there is a lot of dupont retirees and others who showed out in unusual numbers. dupont had banks, website, mailings, people were recalled -- were called repeatedly to make sure they cannot and vote and a fairly, that strategy worked for dupont. it seemed like that was this wing vote in a very close proxy election. betty: that is a great way to put it. it was the swing vote, jack. both sides spent a lot of money to try to get the vote, right? nelson said, look, i'm keeping my shares in dupont. he is a 2.7% stake in this

company, but he doesn't think the company can meet its guidance. what are people saying to you? jack: dupont did have a weak first quarter. he could be on target there. dupont is looking forward and pointing out it is getting rid of some of its or one of its big commodity, chemical business, makes pigments and teflon chemicals and refrigerants. or canarnings can be fluctuate. so without that, dupont thinks it will grow faster, for the sake more heavily on agriculture and the food ingredients and the enzyme business it bought a few years ago. it has given -- gotten rid of auto coatings. that was also weighing on the margins of the company. so looking forward, dupont feels like it has a good path forward for growth. you so much,thank being there at the dupont shareholders meeting in delaware.

, iaking about ellen kullman spoke with her earlier, the dupont ceo, right after the shareholders vote. >> it has been just a tremendous effort by all of our team today in focusing on our shareholders. it has been an outcome we are very pleased with and looking forward to moving forward with the strategy of our company. betty: iwatch in the stock price of dupont right now. right at the open it sank. it was down almost 7%. it has come up a little bit, but it is in the red. while i know you're feeling victorious or self in the strategy, investors seem to be having a little bit of a hard time with the outcome of this phot. how do you sell this victory to your shareholders? well, to me, it was never about winning or losing. it was about the future of the company and how do you create the greatest shareholder value going forward. i think the shareholders have been pleased with the changes we have made us -- as the company

strategies we are on the verge of. i think there's a lot of excitement. in short term, what -- we will continue to focus on delivering great value for our shareholders. betty: tell me what the status is right now, how is it going? pretty close to the launch. we will do the roadshow with investors coming up in a few weeks. the timing is july 1 they will launch as a separate company. know, they're commodity chemical competent with very strong positions, number one several areas. i think they will compete very, very well in the marketplace. betty: looking back on the month-long ordeal or really yours longer deal with nelson peltz, how close were you ever with settling with nelson? have been in gauge for

them and talked on and off about various aspects of that. i think that is a hard thing to gauge. but we have always engaged in a way that understood how we were going to create greater shareholder value. and this is the result of where we have come. betty: what made you want to go into the shareholders meeting full on, not settling, launching this proxy battle? the odds were not in your favor, ellen. we had a strong story. i believed, as you take a look at the company we are creating going forward, the new dupont, in the last six years, grew the top under 6%. .r the bottom line 19% so, yes, we were suffering from the chemical downturn and we had flat earnings for a few years, but our shareholders could see on that. they could see the company we are creating, a higher value,

higher growth company. i think they got very excited about the prospects of the valued creation. betty: as the ceo, you want to invest in growth and invest in research and of element, but one of nelson peltz's big issues was cost-cutting, right? i know you have implement a cost-cutting. you have taken a $2 billion in cost, another $1.3 billion on the docket. he was talking on the magnitude of $4 billion worth. when you look closer at further measures to cut some costs at dupont? well, you know, i think productivity is the way of life. it is never done. we continue to look for ways to create more efficiency, more productivity. even beyond fresh start, we're investing in a new transactional backbone of our company. and that is going to be able to deliver the next tranche of productivity thereafter. it is a very competitive world. we have to make sure not only is

our science delivering, but we are very efficient so we can really be strong competitors out in the marketplace. so that is part of our dna, productivity, and something we will continue to focus on. betty: you and i have talked before. i know you are battle tested. you have seen your challenges in your long career. what was the biggest lesson out of this battle? i haveknow, i think what learned is that we have to tell our story better. ofare in engineering kind company. we are focused on the science. maybe we haven't spent as much time out with our shareholders, really telling them about the power of dupont. obviously, we're pulled out withher and have engaged our shareholders. i had been encouraged by the responses i have gotten. i think we will continue that engagement in a way as we move forward to continue to learn from them and continue to understand how they think we are doing and how we're creating value for them. betty: that was ellen kullman,

the seal of dupont. david. us now, i know you have been following this proxy fight closely. we spoke with nelson peltz a little bit after this interview with ellen. she was just saying how they should have told the story better on dupont. but nelson peltz felt like he also did not tell the story right. i want to play for you part of that conversation, david. >> i think we did a good job. i think they beat us in the press. i think they did that. i think they kept us very much on our backs in the press. but i think our story was told really clearly to the people who do research, the people who follow this company intensely. and they had no problem with what we said, and they wanted change. and i think the market is telling you how disappointed it is that it didn't get it. betty: what don't you think

shareholders got? aboutething fascinating dupont, it has a lot of individual investors. making the case of them was something you probably could have done a better job. he sort of admitted that to you in that conversation. i was struck in the statement he released afterwards to how much credit he took for the changes that have taken place at dupont. aboutkullman was talking a few of those, spinning off, selling some real estate. he is a constructivist, activist investor. he seems to think he will be in it for a while. he never specifically called for ellen kullman to step down. it does sound like he is interested in applying pressure, keeping the pressure on them, and hoping they will continue to listen to him going forward. betty: it is interesting because they each take credit for the stock's performance. to nelson's credit, they did do some of those things like real estate part of it after he came on board in 2013.

there was also an interesting moment, i was curious what you thought about this, david, were nelson peltz mentioned he wanted to speak with ellen kullman -- >> it was a highlight for me. he said he approached her before initial cans and was big with the afterward, we will have five minutes. he gave his speech to shareholders. ellen not, but a lawyer for ellen spoke and said, the meeting is off. he remains optimistic, but it did sound like -- betty: your assistant can talk to my assistant, ok? i don't think the two of them will be sitting down anytime soon. he did say, look, i'm holding on my shares. i'm worried about dupont meeting its guidance. what are you hearing? david: they all caps specific test they own a specific and amount. i think you will continue to apply pressure. betty: 2.7 percent stake still speaks volumes. thank you, david gura.

still ahead, the safety crisis plaguing the global auto industry deepens. 6yota and nissan recall million cars because a faulty airbags. details on that, straight ahead. ♪

betty: welcome back to "bloomberg market day." let's get a check on the markets. u.s. equities are slightly higher, coming off or coming up from some of the lows. you can see the dow exactly unchanged. the nasdaq is the biggest gain or. a quick look at oil prices which had been higher, given

inventories surprisingly shrank in the u.s., you can still see there is a bid under nymex crude come up almost 1%. now look at europe's trading day, here is jonathan ferro from london. >> i'm going to start the story the trading day in europe right here in the fx market. gdp numbers coming in, germany missed estimates but the headline number for the eurozone came in line. the market just wrote that offer most of the day. u.s. retail cells happen, and ugly miss that lit a fuse under the euro dollar. the euro goes higher against the dollar. that is a february-bureau. what does this mean? it cascades through the as a classes. rollover higher, higher, lower, lower, lower. the dax down by 1.2%. we closed the day with european equity markets and mainland

europe painted red once again for a second straight day. the cap 40 down to step the dax off by 1.2%. stronger euro, stocks lower. the euro gets stronger, stocks rollover, it is the burn market that is a racing the gains. yields higher by four basis points. yield on the 10 year of 0.71%. betty: the safety crisis involving faulty airbags that issue shrapnel is deepening after nissan and toyota announced even more recalls. david ingles has that story from hong kong. >> japanese carmakers have announced what looks to be another round of massive vehicle recalls which have to do with his faulty toccata airbags. about 5 million is from toyota, talking vehicles between march -2000 7, 35 models, 640

thousand in the u.s., 1.4 million in japan. for nissan, not a lot of breakdown, but 1.5 million cars, mostly in japan. all of this comes on top of the 17 million vehicles already recalled over these faulty airbags. betty: back in the u.s., julie hyman has the big stories of the day. dupont fended off a breakup. julie: a really interesting story, this was first reported in the wall street journal yesterday morning that pall corporation might be acquired or was in talks to be acquired and the dan her thermo fisher scientific or the potential requires. paul, its biggest acquisition. as you say, it will split itself into two publicly traded companies. one of them will be besides a technology growth company that will be called danaher.

filtrationaker systems. interesting split. another fixture we're watching in the market is macy's. along with the overall retail sales number we got for the whole country that was worse than estimated they numbers ross a worse than estimated. earnings trailed estimates, sales trailed estimates and the coveted really blaming it on three things. one, the west coast port shutdown. two, the winter weather. 3 am a international shopper spinning less at u.s. stores because of the strengthening dollar. microsoft is one of the other stock movements we are watching. this is one that is helping support gains today. microsoft up after deutsche bank upgraded the stock to a buy saying it is looking relatively cheap. the bad news is pricing. betty: thank you so much, julie hyman. she just mentioned macy's, speaking about consumers and what they are buying. u.s. retail sales barely budged

in april. it seems like they're not buying enough. consumers remain cautious on spending. we will talk more about this in the next hour with mark crumpton who is joining me now. said there were worse than expected, the retail numbers. jonathan ferro said they were a mess. betty: and looked what happened in europe. >> it could be the weather, it could be americans are not as confident as some of the survey say they are. they have that extra money from gas prices plunging. a kerley, they're saving, not spending this money. the consumer is still a little bit skittish about his or her prospects going forward. betty: they are still buying food, right? they're still eating out and enjoying the nice life. they're just not buying clothes. i think retail, actual clothing and apparel, that is what is sort of not -- that is what is soft these days. mark: we will talk about that in

the next half-hour. betty: you are still buying your nice suits. mark: i have no idea what you mean. betty: president obama a meets with saudi princes. we had like to washington, next. -- we had like to washington, next. ♪

betty: president obama has a meeting with the crown prince and debbie crown prince of saudi arabia at the white house today. crown prince of saudi arabia at the white house today. bloomberg chief washington correspondent peter cook joins us with much more. has the king's absence, but on the conversation so far? peter: it was interesting watching the optics in the oval office today as the president met with the crown prince, deputy crown prince today ahead of their meeting. we got a quick glimpse before

the private conversations between the president and those two saudi leaders. it was clear the president welcomed them, was gracious, talked about the importance the crown prince has played in making sure americans stay safe. he leads counterterrorism efforts for saudi arabia. and for his part, the crown prince directly referenced the king in his brief comments in front of reporters. you wish to convey to greetings and appreciation of the custodian [indiscernible] great imports to the strategic and historic relationship between our two countries. peter: the crown prince stressing the importance of the relationship between the two countries. betty, both sides insist this is not a snub, but that these two men are the people leading the effort in saudi arabia to

maintain stability and will be the decision-makers with regard to issues like yemen and syria, to some extent. there try to put positive spin on it, but it is clearly one of the big issues, the fact that king is not there and several gulf leaders will not be in attendance at the summit. betty:'s absence felt. what about the gulf countries and what they want from this summit? peter: they want assurances from this president and from this white house that they can count on the united states for their security in the region to bolster their security. they worry about a rising iran, the nuclear deal. the united deal states might be close to finalizing with iran. they want to make sure that the u.s. will stand by them as they have in the past and they won it in writing, to some extent. they would like some military technology and the military clement, maybe some strengthening missile-defense systems. they have a wish list of things. we will see what comes out of the summit. anymore fallout for

senate democrats on a decision to block the president's trade agenda in the senate? peter: john boehner says it is just a bump in the road for trade and ultimately, this will get done. white house folks and some democrats a there is a pathway to get this done. they will try again, but this is a big blow to the president and certainly, not a sure thing. betty: thank you so much, peter cook on the saudi visit. much more ahead on "bloomberg market day." america's were reluctant to splurge in april. what happened? that is according to the latest retail sales dimmers. we speak to the former ceo and chairman of bloomingdale's. what does it all mean for the u.s. economy? we will have much more ahead. ♪

"bloomberg market day." >> six people are dead after a devastating amtrak crash in a philadelphia and at least 140

people were taken air hospitals. we will have the latest on what caused the accident. betty: americans were reluctant to open their wallets and splurge in april. economists say disappointment may indicate the economy is getting off to a weak start in the second quarter. mark: can the middle class be saved? a big challenge for our next president, the topic of today's roundtable debate. betty: good afternoon, i am betty liu with mark crumpton. let's take a look at the markets. let's check on equities. very little movement going on in stocks, interestingly