[bell] you are looking at stocks climbing their way higher into the close. point.bt up by about 64 up.s&p 500 is also and the nasdaq retreating from the closing high that it had earlier. the real story, the dollar had of worst day since the end march. i am joined by joe weisenthal. one stock that really, it attention today was wendy's. wereannounced that they buying back $1.4 billion in stock, they pop at 800 -- over 800 million today. movedunusual that they

that much on a buyback announcement. i think we will see a lot of buybacks. goldman sachs is looking at in 18% surge in buybacks this year. evans said that the hurdle rate hikes is high and it may come later than expected. the real story of the day is the year boom.re -- 10 at one point today, they hit 0.9%. was the safe haven, everyone was piling into it a few months ago. people were wondering if it was going to go negative you saw the chart today. there were solid -- not solid, but inflation picking up in europe. there is optimism that there

will be a greece deal. and then mario draghi coming out with a press conference saying that there will be no slowdown to be qe. alix: this came on a day where the growth forecast was cut to 3.7. no more disinflation. oe: when does anyone listen to them? alix: we didn't take a huge deal with greece today. i crunched numbers and found out how much greece actually hasn't been given in its second bailout over the last few years. this is for perspective, 7.2 euros. is happy change. they already and all of that. we are looking at 203 billion euros in a0 billion

rescue funds, just hate it. joe: the money is not the issue. it is politics. can the german government tell it taxpayers that they will bail greece retiredle earlier land them, has these great pensions. they are thinking, if we change the rules for greece, then everyone can change the rules. alix: let me highlight something that was said, it blew my mind yesterday, about how much germany may need greece in the euro area. we look at net exports of gdp for germany, they have been increasing.

weakeill do better with members inr the currency bloc, because they will not have to compete for exports and they will have a lower currency. joe: that is a reason why greece should stay, but it depends on both sides have a political agreement. carl, andf coral -- mike is here. it lets talk about economics. we have a job report coming out. -- weaka week employment component. what do you think here? something telling you to look for -- in line with

consensus expectations. that is the type of cairo again we see in an economy that is growing 2%, so we are modeling along. joe: will that be enough to reduce the unemployment rate? >> we will continue to drive it lower, not by june or july, but it could push us close to the 5% threshold by september. at the will be looking fact that we have rate at 0% and now unemployment at a level consistent with full employment in the economy. alix: michael, what kind of volatility are you expecting as we head into friday? >> not much. when you look at the payrolls, the first friday over each month, they had that the impact seems to be less, even with the big surprises. i think heart of that is the u.s. markets have been increasingly governed by

european events. whether they are good or bad, monetary or economic. i look at that to say, you have job gains averages of and is the economy on to a solid kind of mediocre, that will allow earnings. joe: producing the u.s. economy going? usl police comes in tell that tells us about what happened. >> i think we are in a steady grind mode. one factor that i like to consider is that there is so much interest rate sensitivity embedded in the economy, that any acceleration that you get -- resmotherher

acceleration. i think we have numbers on the .0 year treasury think it will be a multitier framework. >> it is a different jobs report coming up on friday, because it june was really in play, which it is not, it is out of the picture at this point. met,hreshold have to be usually we are watching the unemployment rate and payroll gain, now it is about three or four more reports that could be .ritical we do not ignore it, but we look at it through a different lens. we look at labor force percent -- participation or income growth, things that tells about the trajectory. and also worth watching, the diffusion of jobs created, are these service sector jobs or manufacturing sector jobs. alix: it was really about

transportation and industry in the s&p 500. >> right so let's see the status of the rusty rustbelt. alix: vanguard is adding chinese shares to its emerging markets, it will make it over 5%. this came a few days before we whether or not they .ill allow china into the index so they are pressuring index funds to buy china. what do you think about china? >> the speculative fever there is amazing. china has been a market, from the equity market perspective, you expect left when it go right. there are some interesting and constructive things happening. theink this concept of

bubble fever that is happening there will end at some point. in: to hear much interest chinese stocks from u.s. clients? >> certainly from a treating point -- trading point of view, people asking what is moving. you look at the chart and this year, the u.s. equities were asleep and china and japan were rocking. how in during that is for longer-term based investors from the u.s., that is a bigger question. so, sepp blatter resigned and they have lowered expectations atar to host the world

cup. anything that they will lose the world cup? >> it depends on the investigation. go back to watergate, follow the money, see who was involved. it is probably too late to make changes for russia. cuttert looks like millions of dollars away from the infrastructure. >> the structure investment, that will be a negative fallout and then there is the terror -- tourism revenue. and with greece hosting the olympics, new question. alix: all these headline, what do you think? is there going to be a trade? >> i haven't been avoiding it. ok, guys i appreciate it.

we have much more to talk about. route isglobal bond telling us about u.s. bonds. ♪

♪ alix: welcome back to the bloomberg market day. saysr official from fifa that years of decisions over the

world cup location was steered by bribes and kickbacks. blaze said that he and othersr on the committee agreed to accept rides -- bribes. he said that the choice of the 1998 tournament in france also involved bribery. he pleaded guilty to 10 charges at the hearing. highesticials at the level of the sport work involved. and it changes for cable customers around the u.s. the fcc hasn't ruled that providers can raise rates without the approval of local government. it was a code of 5-0 to take

away oversight of basic packages, by localities. cc saysat change, the fa that cable can escape local regulations. it looks like ukraine might be headed toward another full-blown war. separatists,ccused and this marks the greatest violence is a cease-fire was signed in february. we are focusing on the market. let's talk about what is weird, stocks are up. >> had we had this conversation a month ago, we saw every time that yield spiked up, you saw equities ruling over.

to .0 a temper tantrum, -- 2.0. yieldsek, we had bund doubling. ours went up this week. now equities are up. i think what that is telling us is a couple of things. to a certain degree, currencies right now are much more important as it relates to equities. hasthe u.s. dollar trade been a huge dynamic in the markets this year. recently, it is getting renewed it expecteder consolidation. i think that is putting a cloud over the markets. now with the euro trading higher, has leaned on the dollar.

currenciesbasket of dominated by the euro. the chart is looking for the bull to get behind the u.s. dollar. that helps march cap earnings, liquidity and global risk. alix: you wind up having a better economy in europe, the euro rises, the dollar falls. but in essence, doesn't that pressure mario draghi has -- to ease more, he doesn't want a strong euro, right? >> no. that is the tension that it gets too. what level does mario really think about getting more aggressive than be pledged today. he said, we will keep hiring that visit and to the end of

2016. from a market you, any risk professional would want to hear that, if you are bullish. i think that said it up. i think what is also important that his plan is starting to work, and he has taken deflation scares off the table. that is going to soften the german hard money stands that he has been battling for several years. i think there is more option now that he the road if you need to his game of further than he has pledged. alix: does that mean we will see range bound trading, will we see there?turn their -- five-montht feels a

slowingo far, with the in the u.s. the international markets are where the excitement has been. creeping higher, it will accelerate and maybe by quarter quarter's end, we could see things. we have the strong dollar, the rate shots, those are behind us. alix: good perspective. good to see you. coming up, we will have details on the unsealed court documents official,ve fifa chuck blazer. ♪

alix: welcome back to bloomberg market day. more development in the ongoing fifa scandal. blazer said that bribes

steered decisions for years. this comes from a transcript from a court hearing, just two years ago. -- who recently wrote the cover story for sepp blatter's departure. what has been the story? heard,n what we have -- filteredod out out some of this gives this context. colossus for so long. he has been brought to his knees, a common criminal, admitting tax and these racketeering, and probably it cooperating and

has brought others down with him. alix: it seems that you mention that they agreed to accept rides -- bribes in the world cup for south africa. anything related to russia? >> nothing for the future of world cups. blazer makes reference to , he was part of a group that took bribes from a moroccan group that was fitting for a world cup. to the outside, it looks like world cups, the most spectacular event in sports, there is cold hard money for the people deciding where they would be held. every time the competition goes on, they are eating a payday --

seeing a payday. alix: at what point does this come to sepp blatter's door? >> we don't know. he suddenly resigned. his reelection and resignation, we did get information related to south africa. people familiar with the case have told us that it involves , that isd in command close to the president. what more to come? the fbi has arrested people and they are hoping that they will get more out of the people that they have arrested. it could lead to the outgoing president. knowledge, on your what is the biggest outstanding question for you? questions the biggest

for me and for everyone else, and qatforward, russia ar, these are the world cups that are yet to happen. they are spending millions, billions of dollars. been iname time, we had the documents that every time there has been a bidding process, there were allegations of bribery. blazer said that he was involved in at least two conspiracies, qaing for russia and potentially those are uptar. in the air. on twohis has been going decades, according to blazer. what are the chances that this probe, cleaning house, will really do the trick? depends on what we are

talking about. fifa seems to be a synonym for lots of things. if we look closely at the indictment, this is corruption and at the world of international football. basically, in south america, north america, that is what is in the indictment. if we look at history, there was corruption in africa and asia. this is global and international. takingl administrators advantage of the popularity of the game and the ridges it brings and trying to -- riches it brings. how will take a look at these organizations are run. alix: thank you. and you are watching bloomberg market day. ♪

emily: hewlett-packard gets "back in the m&a game." the ceos see the industry rearranging itself? ♪ i'm emily chang, this is bloomberg west. coming up, too big shareholder -- ings happening insert san francisco. investors are told that they need to continue taking big risks. we are counting down to the twitter shareholder meeting. will the company be able to improve how it's received on wall street? silicon valley, monetizing user data. what changes do they want to see at facebook and google? welcome to the. born