role would be if hillary wins. alix: investors are circling greece for the chance for a big payday. when will greece run out of cash? scarlet: catfight -- you can call it that. executive pay at caterpillar shareholder meetings. just how satisfied are they? scarlet: good afternoon, everyone. i am scarlet fu, here with alix steel. alix: let's get straight to a look at markets. triple digit rally on the doubt come up by 264 points. my terminal is telling me the nasdaq one of the biggest winners, 71 points. thank you, greece and germany. the idea that germany blinked here and will perhaps give a greased some of its money if it commits to one economic reform.

germany denying that, but the stock market feeling that optimism. scarlet: speculation that things will come together in the end seems to be paying off right now. s&p and down slightly above the 10-day average. if you look at treasuries, there been a lot of new supply this week. $21 billion option of 10-year note. the 10 year yield is approaching 2.5% for the first time since october. falling prices means higher yields. treasuries are falling in tandem with european government bonds. that the question is, does end up derailing any kind of stock action? you have a selloff in bonds. if you have any margin calls, something definitely to watch. i am looking at the currency market. to me, all about the yen. getting the most in three months vs. the dollar, but that is because the yen is higher. the bank of japan governor saying that more weakness in the yen is unlikely, a.k.a., we

don't want a weaker currency, we are not going to work for that. scarlet: for all the talk the u.s. says we are not going to comment on the currency market, every other country is perfectly comfortable talking about currencies. alix: now to a look at some of the stories making headlines this hour. as we were just talking about, germany may have found a way to make the deadlock over greece -- break the deadlock over greece. angela merkel's government may be satisfied if greece comes up with at least one economic reform. that would be enough to open the .oor to some bailout funds in the long run, germany still come upeece to with a full package of reforms. angela merkel and french president francois hollande and greek prime minister alexis tsipras will meet in brussels to discuss views. scarlet: like talking to my son

-- "just do one of your chores. " the ecb is trying to keep greece afloat. president obama is sending 450 additional u.s. troops to train iraqi forces in and our province. the white house -- in anbar province. the white house says they will not be in a combat role. there are already 3000 u.s. troops there and months of u.s.-led airstrikes have not stop islamic state forces from capturing large chunks of iraqi territory. scarlet: house republican leaders has set a showdown vote on trade for friday that it would give president obama fast-track authority to negotiate a pacific rim and trade deal. michigan republican caucus meant reporters that the vote is friday. house speaker john boehner waiting earlier today. hner: trade those are

never an easy lift around here, but republicans are continuing to work and we are seeing positive momentum in the right direction. scarlet: getting democrats on board is a problem. there may be a hangup over how to pay workers who lose their jobs because of free trade. alix: the clinton foundation is facing scrutiny about reporting of foreign government donations. earlier, former president bill clinton, speaking live on bloomberg at the clinton global initiative in denver, said that his foundation's disclosures are more extensive than those by private institutions. betty liu asked him why his recent letter on cgi disclosure hasn't put the issue to rest. mr. clinton: it is not in the interest of my critics for anything to put it to rest. but do i have the most comprehensive disclosure of any presidential foundation? yes. is our disclosure more extensive than most private foundations? yes, they are.

has nothing to do with politics. that we didproved anything objectionable? no. have we done a lot of good things with this money? yes. alix: mr. clinton said he would probably stop giving paid speeches if his wife, hillary, becomes president. moreover what the president said, coming up. scarlet: those are your top stories. alix: stocks may be rallying today but otherwise we had boring sessions lately. s&p 500 trading at the smallest range in 20 years. scarlet: what exactly do you do with the market like this? olivia sterns and pimm fox sat down with daniel mcmahon of raymond james. el: you asked our institutional investors, you sit back and wait, because the volume has been incredibly any make. below average for the past six weeks. forably trending lower several months, if not dating back to november. you talk about it being

you're starting to see frustration amongst portfolio managers. everything is very highly correlated, challenging to outperform benchmarks it not a lot of catalyst to do much of anything. olivia: why isn't there more volatility? headlines out of greece are still pretty bad. nobody seems rattled by the resurgence of the islamic state, if you can call it that. the whole crisis in the ukraine, russia -- i won't get into that. there are a lot of geopolitical things going on around the world. pimm: i was just going to say, debbie downer over here wants to know why people aren't selling. daniel: coming into the year, all the pundits expected an increase volatility. it has been one of the least volatile markets we have had since 2009. as for the headlines, we're seeing positive out of greece, in spite of the fact that they

have not come to a resolution. you have senior management at the table instead of just representatives. at the tableheads and they can probably work something out. you also have some arguing in my be a little bit of a lehman moment for greece. half the world saying to heck with them -- olivia: i don't know if you can call it a moment because we have been here for five years. pimm: déjà vu all over again. daniel: global spike in bonds. it has been a global -- pimm: sell your bonds and going to cash. daniel: buy euros. that is one argument that has been thrown out there. a low rateing off and thereafter liquidity concerns, too.

i just want to reference this chart we are showing on air. this is incredible. it 20, the german 10-year yield was five basis points. that never made sense -- not to editorialize too much. today across the 1% threshold for the first time since september. do you still want to sell at this level? daniel: i am u.s. equity guy. olivia: stilling credible. daniel: it is. it is not unique to just euro. who is buying or selling u.s. corporate debt, or corporate debt in general? daniel: people looking for a little higher yield. ofre is a significant amount corporate issuance that has taken place -- pimm: but who owns it? we're looking at the $3 trillion traffic jam in credit. ritual funds -- mutual funds

him insurers, they continue to add to the corporate bond holdings. daniel: you only need a couple of buyers. olivia: i think we have another chart. pimm: how do they had for the exits? you have a concentrated group of owners -- el: where are the buyers going to be? historically you always had an underlying bid. -- are they going to be looking for the exits the same time the sellers are? nasdaq in 1987, were they just don't answer the phone? scarlet: that was olivia sterns and pimm fox stocking to daniel mcmahon of raymond james. alix: former president bill clinton spoke to our betty liu in denver. hear what he had to say about what his role will be if hillary should win the white house. ♪

scarlet: welcome back to the bloomberg market day. i am scarlet fu come here with alix steel. we had a huge rally. we are at some of the losers of the session. i'm going to go a little bit against the grain because you guys have been covering what is on the upside. i want to hit on shake shack. comments at a conference that is sending the shares lower, reiterating the revenue forecast of $161 million to $165 million for the whole year. of the shares now down by about 4%, but as we've talked about in

the past, this is quite a volatile stock both on the up and down side. ppeaking of a volatile, go ro could be on that list. there are concerns about the sustainability of demand for gopro, particularly with more and more drones on the market. those shares are really cutting their earlier declines. earlier they were down by as much as 6%. urban outfitters is another one we are looking at. that company says that comparable sales are in the mid-single digits so far in the second quarter. investors have been hoping for more of a rebound in those sales as the coveney tries to turn itself around. those shares down almost 3.5%. sears is another one in consumer discretionary that is lower. if the strait gate that we are seeing sears down, 10 point -- if straight day that we are seeing sears down 10.5%. the announced a plan to spin off some of the real estate holdings.

now that it has happened, it looks like investors are taking a step back and saying what is the value in the actual retail operating company? perhaps not seeing a lot there. i wanted to take a look at the longer term for consumer discretionary. these are consumer discretionary stocks that are selling. to put it in perspective, i will took a look all the way back to march 2009, before we began this big run. since then, the discretionary index is a 381% on the in-line the here. see here.en line we anticipatedve growth in many of these consumer discretionary companies, and some of them have gotten it, but some are struggling a little bit more and now being punished more. thanks soulie hyman, much. did i tell you i had a shake sha ck burger yesterday? alix: no, you did not!

you live for those things could do you have a milkshake? scarlet: no, i didn't. regret onene thing i i was pregnant, i didn't have shake shack every day. scarlet: federal investigators analyze phone records announced findings today but still don't know why the amtrak train was going twice the speed limit went and left the track in philadelphia. 8 people died and more than 200 were hurt in the crash. alix: officials have resumed the hunt for two escaped killers. police are in the fifth day of searching. they are going house to house in cut theirre the two way out of the clinton correctional facility using power tools. new jersey gambling regulators will allow carl icahn to double down on his casino holdings in atlantic city. the casino control commission says that the billionaire investor will be able to own the contact mahal casino resort.

he already owns atlantic city's casino and resort. those are your top stories. alix: it could be a first for first families, if hillary takes the clintons back to the white house. what with the former president's role be? the answer to that during -- the answer to that -- he answer to that to betty liu in denver. mr. clinton: i don't know, i will be almost grown by then. [laughter] i will give you -- my serious answer is this. if you have been president and the current president of either party asks you to do anything, if in good conscience you can do it, you should do it. quite apart from our being husband-and-wife. that will be not an easy decision, should she be elected president.

she will have to decide what is my best use, including being around to buck her up every morning. wins, andlly, if she i think it would be a very good thing for america if she did win -- [applause] but -- betty: you mean there will have to be a hard decision made on the foundation? mr. clinton: we will have to talk about it. i don't know. what we have tried to do -- i always took all the money people gave us and put it right into the work. my foundation, which is helping suit over a thousand 4 -- soon and 1000 farmers in africa, separate the health work, which is what gets most of the government -- betty: right. mr. clinton: it will run regardless. and an independent board, a good board -- it is fine. the work we do with small

entrepreneurs in haiti, mexico, colombia, and peru, that will be fine. all of these things can run. donna shalala came in to become president of the foundation to make sure we were in really good , if it is appropriate for me to leave altogether or i need to. and chelsea is there. so i think the foundation will be just fine. but i am determined to stay out atfor as long as best stay it for as long as i can to make sure it is in the best possible shape, and the reason i went out to raise an endowment is i thought there were so many lives riding on the work of both the the health access initiative, which is separate from the global initiative, where we get everybody else to do this, that it would be irresponsible for me not to have an endowment. before that, president bush

opened his library with a $250 million endowment. listening carter has like a $500 million endowment. he has been working at it 20 years longer. i never cared if i had one and all. i figured if we were doing good work, people would support it. if we weren't, fine. betty: but now you have to think about this? mr. clinton: well, i decided in the end that my successors' in terests, including my daughter if she decides to stay doing this, they may not be able to raise the money necessary to do the work. i want at least a modest endowment. it is just not responsible for something that has gotten this big with no endowment. betty: would you still give paid speeches? mr. clinton: would i what? betty: give paid speeches when your wife is in the white house? mr. clinton: no, i don't think so.

i will still give speeches on the subjects i am interested in. i really enjoy those things. [laughter] and i get to go meet with smart people. you know, i met with oracle's major investors twice in the last few years. god, they are fascinating. i learned so much. thatybody told me in 2001 people would still want me to go talk, i would have been stunned. [laughter] really, i did. i think it is because i spent a couple hours a day studying what is going on in the world and i don't just tell your stories. i don't talk about what happened when i was president unless someone asks me a specific question. i think people want to live in the present and look to the future. alix: former president bill clinton speaking earlier with betty liu at the clinton global initiative in denver. scarlet: still ahead, vultures are circling over athens -- folder investors, of course. they see a big chance for a big payday. ♪

scarlet: greece is running out of cash. alix: newsflash 2012. scarlet: leading investors salivating. investors are eyeing a chance for a big payday. really dumb question, but how do you literally buy debt? >> it is not very liquid. we have reported that night had an monarch are all elders of these greek government bonds, and you can buy them in a market, but it is fairly illiquid and not a lot of trades, and something that we learned, if you want to buy it, it is kind of hard and it seems

like there might be someone out there who has a lot of it and is letting go and maybe that will come out in the next few months or something. scarlet: what are these distressed investors betting on? katia: specifically, that it is going to work out. the path may be rocky. scarlet: how doesn't matter so much as the what. katia: in the end it will work out and they will pay everything they need to pay. the bonds will not be restructured. alix: what if they are restructured? they were restructured in 2012. that did happen. katia: the bet is that because these bonds are held by the private sector come and they are .onsidered super senior everybody agrees that these shouldn't be touched. because the creditors took a big hit, over 50% was written off in 2012. what kind of incentive is it

that you get a haircut in restructuring and three years later you get another haircut? people do not want to participate in restructuring. the imf definitely does not want that. they want things to run smoothly and people to participate in restructuring and give debt relief. a big disincentive if that were to happen. kerry andou mentioned monarch. you cover argentina. that is your specialty. is there overlap between what we are seeing with greece and argentina? katia: absolutely. all three are involved in argentina, and puerto rico. what is interesting is that there are fewer involved in greece then in argentina and puerto rico. ton.gentina there is a everybody is involved in argentina. quite a few dozen in puerto rico as well. it doesn't seem like a lot of the same people are in there. it seems to be closely held, not a lot in there. maybe over time there will be more than get involved. alix: is there a sense of how

much cash is on the sidelines for these companies and a list waiting to get in? katia: i'm not sure. what i'm curious is are litigious folk involved yet or is there a creditor group being assembled? but not yet. like i said, private debt isn't on the table right now for restructuring. nothing yet for a creditor group. if maybe if things go awry, things go wrong, we could see bigger, like the elliott type guys that get involved. alix: good stuff. katia, thank you so much. scarlet: wait for things to get worse before you jump in. alix: ironically. scarlet: i'm out of here. alix: so sad. we're talking about apple under scrutiny. ♪

♪ alex steele. we want to go straight to a look at the headline today. jamie dimon that he does not a

possible that could derail the u.s. economy. the at any than in chicago, he said the u.s. is now better than it has ever been and has the best technology in the world. on says he has legitimate concerns about leadership in washington, including senator elizabeth warren, saying, i don't know if she fully understands a global rankings this to him. want her onould not the committee. and a dialogue on the crisis in ukraine and respecting the men's accord. minsk accord. and the man by obama to lead the transportation ministration as he is concerned about rampant security cap -- gaps at the airport, saying if he is confirmed by the tenant, he

willfully identified those gaps and close them. last were reports in the couple of weeks that undercover agents were able to smuggle banned items in the seven out of attempt. and marriott international said it will offer guests access to netflix on televisions in its guest rooms, allowing just netflix by signing into their existing accounts through the app on connected tvs, and guess can also sign up for a new subscription if they do not already have one. the netflix is available at several properties, six more launching this year. and those are your top stories. coming up on the market day, tesla has a new car that should be available just in time for the holidays, and apple music is already facing scrutiny for potential antitrust violation just days after being unveiled,

and there is a shareholders meeting today, with bloomberg saying there may be sign with dissatisfaction with management performance at caterpillar. all of that on market day. bp came out with a review, laying out these them shift taking place in the global energy markets. thehe top of that list is u.s., taking the reins as the biggest oil and natural gas knocking russia and saudi arabia off of its purchase. global head of commodities research at citigroup joins us now with more on this milestone. ed, such a pleasure to talk to you. ed: always a pleasure. think abouto you that? the u.s. as the biggest producer? ed: everyone has different data, but the u.s. is producing about 13.5 million barrels a day of

liquids, including biofuels, and audi arabia is behind us, as is russia. this is not likely to have a dethroning anytime soon. the remarkable thing is it is not just the u.s. leapfrogging the other two, but it look at total liquids, they are just about 40% of the total world, so these are the three places you have to look at when making judgments about the oil market over the next three or four years. aix: and, obviously, shale is part of that, and we had them coming out yesterday saying it will be slow. at what point in time does shale run out of him? -- run out of steam? ed: i do not think that will be anytime soon. we may see production lower than the month for, but we think as that happened, we're going to have higher prices, and that higher price level is going to

almost certainly create a higher level of drilling. we would not be surprised to drilling downturn into an upturn sometime in the third quarter, and that is a sure sign there is going to be a recovery, in all likelihood, of u.s. production or the next year. alix: and that speaks to the flex ability of shale, not only that they can adapt with when prices rise him a but also talking about hedging, how does that play to mark ed: well, we saw a lot of hedging in the month of may. is going to turn up in data releases for the second order, sometime in july. when itging took place was about $65 a barrel. it is lower than that today. this summer, we market firm up. we will likely see deferred prices going up, as well, and

when that happens, there will almost be a rush again to hedge, and that is one reason why we think that given the costs of development and the shale formations, we're going to the production growth next year. it is striking what efficiency gains have happened in this stem over the last year. one year ago, a lot of the bunnies required $90 a barrel to get a return, and now it is in a different range, and that is another reason with these efficiency gains, not just stopping but continuing, and we're going to this drilling resumption. so what is this going to do to price? previously, they were calling for $20 oil. to the lower prices still remain in your view? ed: we do. financial flows are responsible for a lot of the stickiness in the price and the resumption in price.

money,s a bit of managed and that is a complex technical issue, but we think it fundamentals had been able to do that alone, then the price would be lower. we now think that the high prices now, we're going to see lower prices, and this is kind of a reverse of what we thought about when we wrote that report earlier in the year. give me some levels of prices you are looking at? ed: sure. around the and brent at around $65. our published view is that the q4 levels will be lower than that brent will be closer to dollars, d5, wti goes to $55 and -- brent will be closer to $60, $65.

wti goes to $55, $60. ofould not take any number the table. lower than today, but i do not know how much or. alix: fair enough, and the other big part of the picture is oil demand. we have seen demand out of china for things like saudi oil. what does the demand picture look like you? ed: there is a lot of controversy. drivers the fundamental that my colleagues on the macroeconomic in said about last year. .here is the same 2.7% that is not going to meet a lot of new roads coming out of gdp, so any growth in demand it to come from lower prices. it will be in economies that have exposure. india, with dramatically higher g growth, china with controlled

prices, and the u.s. some of three places we have an looking at the second demand increases. but the chinese pace, most of that growth is in storage or actually ford diesel fuel replacing natural gas says of the lower price of diesel and the decontrol price of natural gas. we do not need that is very datable. we are going to have a very robust driving season in the u.s.. the global head of commodities research, thank you for being with us. and coming up on the bloomberg market day, teslas po elon musk says the model as it will be better, and it is a sedan, setting the bar higher, but can he deliver to mark that conversation, coming up next. -- can he deliver? that question, coming up next.

♪

alix: welcome back to the bloomberg market day. i am alix steel. time now for a quick check of the market just minutes ahead of the closing bell, and eight rally day. i am going to add a little rain on your parade. you know, we have got to do it him dimes. first, let's take a look at the sunny side of the street, the major indexes rallying, sending the dow nasa to their highest in about a month, the nasdaq also rising. also, leaving the aids, a lot of thosecyclical groups, particular economically sensitive, and these are fueled by the perception that the economy is improving both here and in europe to let's take a look at those leading groups, it

we may. take a look here at technology, financial, energy, the s3 performing groups come but all of them are higher today. i mentioned yields. let's look at those. we are seeing yields at their highest since late fall, two point 19%. it is a little bit unusual, the move we have been being in the field as of late. all of this said, even given the game we have been being in stock -- all of the gains we haven't being, the range is very tight, and this was something that was mentioned earlier when you heard that interviewit is a little bie move we have been being in the field as of late. all of with dan. this is a great chart brought to us that you can also view on bloomberg.com. this is the percentage movement the s&p 500 by years, the

range in the s&p from top to bottom. in 2008, it reached a high of 48%, so an incredibly volatile year, and this year, it is 6.5%, and we're's the same thing among the individual stocks. years, the range in the s&p from top to bottom. in 2008, it reached a highand wn individual stocks, and this year in the s&p, it is 17 point percent on average, so not being a lot of range, a very tight range, and it is also reflected in the volume we have seen over the past several years. here is the volume on the s&p 500 reciprocally, and there is a trend line to show you that we have, indeed, trends lower. 20 14, continuing into this year, but just again to show the sort of lack of participation in the market, as quantitative easing has gotten more and more mature, there has interest ind less people as actively trading, and particularly this year, because we do not know when the head is going to raise the rate, so we're seeing people holding back. all right, when you do not

know what will happen, or of going to cash. thank you, julie hyman. in the wake of the soccer's ifa says he would be nonsense to begin the process now over the next awarding, and there would be the u.s., mexico, and other countries from your. do you hate getting up early but love tv westward a will and your early wake-up call. they say the announced that of any nominations will now be held at 11: ernie a.m. eastern -- 11:30 a.m. eastern. the nominees will be announced on july's. of a larceny in the stakes novels, the upcoming 50 shades of grey seat has been stolen. publication date is just a week away. they are investigating the theft of the new book which retail --

details the erotic adventures of the 50 shades trilogy from the billionaire christian grey. those are your top headlines. elon musk as the wait for the tesla s is almost over. he said tesla will start threering the s the end or four months, and for more, i "m joined by "bloomberg west anchor emily chang. do we believe him this time? been pushingave back, pushing back, but they have stuck to the dead, saying it will be released in three or four months time. he also says he is been test driving the suv himself, and he says it would be a better model. interestingly, he said more women are signing up to buy this car, as it appeals to women, whereas the model as audience, the majority of them are all

men, and essentially a software update is coming out or the model s and eventually a month. it will have more self driving teachers. he also said he has been testing out those features, specifically saying, i am testing the latest version of autopilot every week. typically two or three every week that i am testing on my car, but it is quite a tricky rank, and we have to make sure the situation is exhausted -- it is quite a defanged. -- a tricky rank. -- thing. personally testing out the auto driving just, and we will have robin chase on our show coming up, a former ceo of the car, talking to her about her lots on tesla and what is happening in the larger economy with companies like uber and lyft. i want to shift to

another story that caught my eye this morning, a potential antitrust violation, and the issue is whether apple pressured music labels to favor apple's paid subscription over free advertising, including spotify and google's youtube. emily, what you make of this? it be a repeating theme for them. it happened with e-books. emily: yes, it did happen with e-books. it was said, yes, you are colluding with publishers. they have been investigating apple about this very same thing. light is theme to new york attorney general published a letter online from universal music, saying, look, we did not prices. we did not allude with sony. we do not need with warner music. we did not collude with apple.

it will be really interesting to see how of this plays out. as you know, apple music rolling out june 30, $10 a month for the streaming music service for global radio, for access to apple's global network that they are trying to create. they will not have a three tier. they will have three months free, but it remains to be seen how many people are going to actually pay for it. they do have a family plan for about $15 a month, and that is something, for example, that spotify does not have, so we will continue to follow this lawsuit and how it pertains to apple and see what happens there and just how serious it gets. it goess, and how long on for. thank you, emily chang. and still ahead on the bloomberg market day, machinery monolith caterpillar holding a meeting today, some investors sending a message about the poor or miss of management. a reversal for the company? ♪

alix: caterpillar held their annual meeting in kansas today, and 56% of stockholders approved an advisory on compensation, and others were signaling the satisfaction in management permit. well, joining me now is karen, who follows industrial companies for bloomberg intelligence. karen, thank you for being here. when of all, is that a lot it comes to caterpillar? karen: if you look at the last few years, it has been 5% or

less that have disapproved, so it is a surprising jump. alix: what happened? they went down. karen: with stock performance and earnings growth, they have dealt with a terrible market, but there are some execution issues. also, they have done some big m&a that were probably pay off long-term, but it is hurting them right now, though -- let's go through some of the last m&a's. what were they? what did they spend? and when will that they are to mark -- and when will they pay off? paid $8.6 billion. it was very well-positioned in underground mining as well as surface mining. however, they bought it and had one year be market apart, so

they haven't really with depressed commodity price is, and it is now at 6%, so that has hurt. -- they have had to deal with a really depressed commodity price, and that is now at percent. -- at 6%. so why aren't their peers suffering as much? grain prices have not been holding up. karen: they have had difficulties. although they have done the well. the act market is down -- the agriculture market is down. it is surprising to me when you stock, it hass been down and back up again, and

it is about where it was when market were good. part of that is based date is want of the declines. they cut production very quick read. they have been able to adapt to the market. their earnings are down, but they are executing much better than they have in the past and much letter -- much better. it looks like it is purely execution at this point. karen: mining is down almost two thirds, so i will give them the wrath that they have at a terrible decline in a very high margin is this. this was different with market demand. they did have the problems in china. no one thought excavator demand was cut in half, but when that thing collapsed, they had to write down the china mining business by -- they had to take a $500 million right off. alix: what is next?

knew him right act in the day. what are they doing wrong? karen: the next problem is energy, because energy is now turning down, and cap -- cat makes generators for oil rigs. to cuty will have inventories and probably by that more.. they probably need to do more than that. and they have to not do any more acquisition run, but i do not they will. genuinely -- generating cash flow. it is just that their earnings are not there. karen, thank you for

joining us, with bloomberg intelligence, and let's check in with julie hyman with what is driving market higher. julie: this would be seen as a good time by the bowls, and it is a broad-based gain. behind me is the screen of the nyse decline line, edit it one point, it was at the best of the day. it was a broadly positive we're still seeing the financials. i want to point out jpmorgan and wells fargo, they are at their highest since 2007. alix: thank you, julie. we are moments away from the close, the dow and the s&p having a good day. we will be right back. ♪

alix: we are moments away from the closing bell. this is "market day." i'm alix steel. ♪

[closing bell] streak, weye losing have the dow and the s&p looking at their best day in a month. the s&p is higher for second day, the nasdaq is having its best day in two weeks. it was a sea of green all across the board, technology was leading the way up right 2%, followed by financials and energy. thecan see that echoed in 10 year yield hitting an eight-month high as you see money flowing out of the bond market. we are seeing money flow into the bond market. to break it down with us, joe weisenthal. finally, an update. joe: finally. allbig story today, we were set to say -- ignore it, same old same old, but we got some exciting headlineou