the eurogroup resident that is is unthinkable agrees with that money by june 30 while the card is on his minister says the two says her close to a possible deal. we've sort through the contradicting headlines. u.s. stocksalix: are trading. scarlet: good afternoon. breaking news the desk. olivia taking a look at the possible news about martha stewart. olivia: a takeover of the dow jones is recording that a company that markets and licenses a portfolio of consumer brands is about to buy market stewart -- martha stewart media.

shares up about 20% right now. they were briefly halted on the new york stock exchange and trading has removed. a potential tie up in acquisition. about $350 million. two companies, both smaller then i would have guessed but a lot of excitement. we look continue monitoring the headlines. scarlet: thank you. potential deals this year. you are looking at a nasdaq trading around a record high. a big rally underway for the dow. it has been driven today by a run in biotech stocks.

also you have yields rising slightly so it is good news or the cyclical sectors. recovery in terms of the u.s.. scarlet: the biotech stocks tend to be a smaller cap. you can see they are up 16 points. the russell 2000 is the third most traded security after the fighter and after apple. it trades $4 billion of trading volume a day. that is huge. also a look at the currency market. the euro is actually inching higher and that is a story of a weaker dollar. rate hike. that backs the fed's plans were gradual interest-rate

increases as they laid out. let's get a look at the stories making headlines. alix: area leaders old an emergency summit in brussels on friday. the eurogroup resident says it is unthinkable that greece will receive any financial aid before june 30. he left the door open just a little at a news conference earlier. find is still possible to an agreement and extend the current program before the end of the month. the ball is clearly in the greek court to seize that opportunity. alix: christine lagarde also spoke today. she said there is still a possibility of a greek default. then you have the greek finance minister saying the two sides are close enough to make a deal. he also said greece made a new credible offer to the euro area. today's meeting, there is

a signal to the partner and institutions by presenting a canrehensive proposal that bring results. alix: greece has to pay the $1.7 billion to the imf by the end of the month. scarlet: a suspect in the cap -- south carolina shooting is in custody. he was arrested in shelby, north carolina. authorities say you walk into a historic black church in charles thomas night and killed by people. the shootings are being called eight crime. about theobama spoke tragedy about 35 minutes ago. toat some point we have reckon with the that this type of mass violence does not happen in other advanced countries. it doesn't happen in other places with this kind of

frequency. and it is in our power to do something about it. church'sthe trust and -- the church's pastor was one of those killed. alix: when it comes to a trade bill, the second time is a charm. with mostlyt one republican votes. the senate could take up the bill next week but it will need support from several democrats. that is a look at some of the top headlines. scarlet: coming up, the republican coldrolled -- controlled house -- we'll is clear the way for a showdown in the senate. alix: over, hamilton. the $10 bill getting a milk over -- a makeover. what the first time in u.s. history, a woman on currency.

scarlet: why a new but will make it harder for telemarketers and other annoying people to call you. that and much more coming up on the bloomberg market day. forfeited are surging on the first day of trading. the stock prized above the average. scarlet: a great day for fit bit . we have doubled. most of that is in software but we do continue to innovate and hardware. atcompetition is coming out you on all sides. who wins this market? is it price, style, functionality? >> there are over $200 billion of consumer spending.

range of wide products, different price points, form factors, mobile platforms. we want to get people multiple ways to enter our ecosystem. in terms of competing, will it be something that is a price of war or the best technology that wins? it is synonymous with health and fitness tracking and creating simple to use products that people love to use. important theme is keeping users active and loyal. a study shows a productivity tracker users abandon the device after six months. how do you make your product more sticky for users? >> it is all about making fitness fun and engaging. we are investing to make that happen. of activity tracker users customers are women. would you consider outer --

adding a woman to add to your board? >> we not leave any stone unturned. lawsuits,s of the job would you consider a countersuit against after this ipl is over? >> we're definitely going to defend ourselves. >> i know another key part of your strategy is corporate wellness and making more partnerships. you have about 10% of revenue coming from partnerships. how do you plan to increase that? it as a result of the dedicated work of our direct goin werce > we ar will use the proceeds across the board. >> you have garnered a lot of

proceeds. and hearttle sleep rates spiking. how would you reflect on the process? >> very intense. we had up to nine meetings per day. very little sleep but i took the weekends to recover. >> your fit bit says after this is over, we have to do a little better. how happy are you with today's trading? very excited. a lot of gratitude for everyone on the journey with us. employees, investors, customers. super excited. --rlet: coming up alix: susan rice talks to the politics team about hillary clinton's hand in the transpacific partnership agreement. that is coming up next.

♪

scarlet: welcome back. alix: we will go straight to julie with a look at the losers in the broad-based rally. want to forget about some of these significant earnings stories. take a look at the major averages. let's take a look. or not. here we are. alix: here it is. some of thelook at downs as well.

the earnings forecast was disappointing. shares down 3%, among the worst performers in the s&p 500 today. were short as well as a prescription. thee also looking at contract electronics maker. those numbers disappointing analysts. they are down 7% in today's session. the biggest disappointment is oracle. toy try to migrate customers the cloud and see some speed bumps. shares down 5%. they are the worst performer in the s&p 500. part of this had to do with the migration of customers to the cloud and how it recognizes the revenue. we have two of the revenue streams. software as ae service revenue. a cloud-based revenue. these are software licenses.

this is license revenue recognized as one charge when the client buys a license. this is a new cloud-based revenue that is more of a prescription -- subscription model you get it monthly or model.rly - you get it monthly or quarterly. migration andbig a bigger drop in the software license revenue than anticipated. i spoke with an analyst at bloomberg intelligence and that is where you can find this chart on your bloomberg terminal. one of the issues is perhaps the company did not manage expectations as it navigates this shift run the license-based revenue to the subscription model which eventually should bear more fruit for the company. they were so positive on

the conference call. it was like happy days all over the place. so much fornk you that. let's get a look at top stories crossing the terminal. the supreme court coming out with a ruling on child abuse. statements children make to teachers about possible abuse can be used as evidence even if the child does not testify in court. the ruling makes it easier for prosecutors to win convictions. alix: pope francis issued his statement on the environment today all step he is calling for abled cultural -- abled -- a bold cultural revolution. he says it is turning the earth into a pile of filth. the statement was criticized conservatives who say the pope should not weigh in on such controversial issues. scarlet: the midwest bracing for more rain and flooding.

3-8 inches of brink and far from oklahoma to illinois by the end of the week as the system turns to the northeast. yesterday, the system dropped more than 11 inches of rain southwest of houston. alix: the house revised president obama's trade agenda passing a bill to give presidential authority to strike deals. of the few times republicans have stood by legislation the president has proposed. been has the president redeemed or do we need to wait for the senate vote? john: good afternoon. how are you? alix: doing great. john: this will not be a done deal until it is a done deal. the last time, it was the worker assistance heart of the trade package that was voted down. the thing that passed today was

the same that passed last week. that was never the controversial part. the taa thing is off the table and will go back to the senate to be voted on again and that causes problem because some democrats are worried about the fact the worker assistance part will never get back in the package. this could still pass. we will not know until early next week but i don't be president is happy about what happened today. still a pretty long road to get it to where it is wanted to be. susan rice spoke about hillary clinton and her role in the agreement. >> we have been negotiating the transpacific partnership agreement. to bring that information, we are looking forward to obtaining trade promotions authority from congress.

that is another significant accomplishment. >> she was instrumental in moving the trade agenda forward. >> in implementing the rebalance to asia to which the partnership is a part. since she has left, our trade representative has been leading the effort to get that deal done. it is almost done and when it is, we will want to be able to submit it to congress for their approval in trade promotion authority. alix: hillary clinton has kept quiet on where she stands of this legislation. how will this affect her campaign? john: she has not been quiet, more mushy-mouthed. we asked susan yesterday to speak of hillary clinton's big accomplishments and one she mentioned was from the clip we just played. she has been a free trader throughout her life.

now she is trying to keep her options open when she knows a lot of the democratic basis against doing the free trade deal. if one of her greatest compliments is having been involved in the agent rebound and being on the side of tpp, it puts her in an awkward position to say i am not sure if i am for it or not. i guess that is where she has to be politically right now. she wants to figure out where thevotes are and what final deal looks like. it is probably the smart play right now for her politically. scarlet: a good technical term for it. mushy. tonighte to tune in on all due respect. alix: the treasury department

announcing today at blends to redesign the $10 bill to mark the 100th anniversary of women getting the right to vote. scarlet: no decision made yet about who will be featured on the new bill. >> it takes over the federal government at a time when the country is bankrupt, restores america's credit. he creates the first bank of the united states and the coast the first fiscal and monetary system. the first tax and accounting system. he creates the entire financial infrastructure of the u.s. and was the architect of much of the federal government. alix: ron is on his way to a broadway rehearsal of the new broadway by alexander hamilton.

the u.s. is not the first to add women to its bills. ueensyrian clean non- -- q appears on the 500 pound note. scarlet: we are way behind syria. mexico's 500 peso shows diego rivera and his wife on the back. alix: still ahead, pulling the plug on the robo calls. some new rules are passed that would make it tougher for telemarketers to call you. scarlet: about time. ♪

alix: the fcc is cracking down

on unwanted robo calls. the commission move forward with a proposal that would allow consumers to block all those annoying calls and text and is one of the biggest actions on the issue since the 2003 no, registry. -- no call registry. >> we have all been there. on unwanted calls -- unwanted calls are the number one consumer point -- complaint to the sec. we spoke with the fcc and the ftc. concrete roboe call numbers but the ftc said it is certainly billions each year and they know that based on lawsuits they have fought. their biggest case was against caribbean cruise lines in florida not to be confused with reputable

companies. this company hit 1.5 billion calls in just five months. half $1 million has gone back to consumers so far. ance 2003, nearly half billion dollars has been awarded to customers but only about 29 million has been collected. that is because defendants tied their money or spend it on luxury cars when they get the money. technology, robo calls are cheap. it costs less than one penny in minute to make a voice over internet call. -- technologyans can help to defend against robo calls. the sec has okayed blocking technology and the ftc has launched a challenge for developers to make a tool to do just that.

one thing you can do now is to add your number to this -- the national do not call registry. 270 million members are registered. scarlet: do you have a landline? alix: i do. we never use it. we just screen it for telemarketers. one time someone called me before 7:00 a.m. and i was like don't do that. scarlett, good to have you. coming up, we are talking the state of greece.

alix: welcome back to the bloomberg month day. let's get straight to a look at the top stories. warren buffett is increasing his stake in hj heinz.move

comes ahead of the merger with cracked food group. they were i able to add a 5.4 stake in heinz. -- macdonald says they plan to close more restaurants in the u.s. then they opened this year and that is not happened since 1970. -- has not happen. peterrsonal assets of madoff are auctioned online by the federal government including jewelry, watches, furniture, and art. it ends july 7. he is serving a 10 year sentence infraud charges for his role

a billion-dollar scheme. the feds previously sold his mansion for $3.5 million. the state department will base its yuan operations at the new york palace hotel. the hotel was purchased last year by a chinese company and allow tilt into run the hotel for the next 100 years -- and allow tilt into run the hotel for the next 100 years. that is a look at the top stories. coming up in the bloomberg market day, we bring you an exclusive conversation with john doerr and that seidenberg -- bethseidenberg --- seidenberg. what this means for the overall technology market. we bring you today's closing bell at the top of the hour and

the banks that change their interest call right after this week's federal reserve meeting. that and more coming up. speaking and luxembourg, christine lagarde said what is missing from greek talks. >> we can only arrive at a resolution if there is a dialogue. the key emergency in my view is to restore a dialogue with adults in the room. alix: adults in the room. ouch. the head of microstrategy joins me now. it was not her only. the greece finance minister as well. are you prepping for a default? come towardhey will an interim conclusion. alix: how?

it seems everything is the opposite. >> the imf is talking tough. when you look at what they do, they first send a nasty note reminding you of the importance of paying debt. it is a six month process. there is no one coming to repossess anything. defaulting is not that big a deal and i think it will scare them. the goal is to take the debt out of the imf and stuff it to the e fs and esm. everyone realizes how bad the situation is. merkel is out there trying to get a deal. alix: how could it not be a big ?eal if greece defaults they might get a few months before they are officially in default but no one has ever done that before. >> that is part of the reason.

it is not cricket. there is no teeth to any of the rules. the imfere is no way can actually get their money back. if greece defaults, they don't get paid. end of story. >> they go through a process of lawsuits. there is no easy way to get the money back. running a primary surplus so almost all of the money they are asking for is just to go back to repay the lender's so greece can function. i am sure china or russia would love to step in. alix: why hasn't all of this gone down yet? greece has the upper hand so a deal will get done because europe needs it to get done. >> i think it will take some time. part of what is going on is they january so iin think they will get some good advice but it took a long time

to get the data together. europeans are good on -- big on politics, rhetoric. they are very weak when it comes to facts and figures and now they're at the point they're looking up the facts and figures and everyone can see it is unsustainable for greece and will not be able to make their payments. they have to come -- they will have to kick the can for six months to work out a plan. alix: do you think this is just posturing than? they're are just doing this to go back to the constituents and say we talked tough? >> they have to so they can come back and say they drag it to , worked so hard -- got it to the line, worked so hard. deals happen when the leaders meet and the leaders will do a summit and i think that comes to be the perfect time they announce a temporary resolution. alix: where would be the place we would want to invest money? >> you look at europe and

european banks. i like european banks, credit. alix: not great banks? little sketchy. too small and volatile. i would look at spanish, italian banks. from there, the credit , the high-yield bonds. there is a european high-yield. think there are a lot of opportunities. you will see treasuries fell off so i think we want to be a bit careful in the treasury space. alix: much more optimistic. eventually a deal will happen. a great day to get your perspective. thank you. coming up on the bloomberg market day, a day that rocked silicon valley.

now the venture capital firm is speaking out for the first time after being sued by a former employee. ♪

alix: welcome back. breaking news. the dutch finance minister, the chief of the eurogroup saying greece is moving in directions of a euro exit. he came out earlier saying the unthinkable for greece to get it by june 30. everyone was prepared for all eventualities and now he is coming and saying greece is moving in a direction of an active. you will continue to monitor. it is time to look at the

markets. 15 minutes before the closing bell with julie hyman. the euroooking at today versus the dollar. higher despite the action we have seen. julie: i mean, this press conference seems to have been going on for hours and they keep making all of these incremental comments about greece's assigned to put pressure on greece also saying they will be meeting and a minor emergency summit. is the deal getting done or not? markets reacting as though we don't have that conclusive news yet because there is this perception they will be a deal. u.s. stocks are not reacting to this really at all. take a look at the major averages. the rally hold steady throughout the session today. the nasdaq still trading at a record.

and dow are still holding steady with gains when ahmad percent. take a look at the s&p 500. we came off the high of the session a little bit when the headlights came out but still the li na much reaction to all of these incremental headlines still not much reaction to all of these incremental headlines on greece. also look at the groups within the s&p 500. were lower stocks today. you can see a lot of green on your screen because all of the higher.re trading the two best-performing groups are health care and utilities. todayou look at the are performance for those groups, you see quite a divergence. health care stocks are the best performance up for the year to date. utilities are the worst performing sector for the year to date, down 8% as health care

rallied by 11% in part because we have seen a lot of deals in pharmaceuticals and speculation there will be deals and managed care companies. theher record to mention is russell 2000. some investors have hope the pace of rate increases will be gradual even though it is data dependent. we should probably look at what rates are doing today. take a look at a tenure. rates moving higher. a little bit of a different picture being painted by the action in the stock market and in the treasury market today. perhaps treasury traders taking the fed will be a little more aggressive but of course not unusual to have a divergence there. traders dealing with that

positioning. thank you so much. now to a look at our top stories making headlines. lester holt will become the permanent anchor of nbc's nightly news. williams fourian months ago after he was suspended for exaggerating his iraq.n williams will stay with the network, moving to msnbc as anchor of breaking news. how tragic cargo is lined with hockey fans today as the phillies -- as the city celebrates the team's third stanley cup in six years. a parade stretching through the city's neighborhood. tens of thousands of fans .reeted the team won prices are rising just as the summer fishing season gets off to a slow start in new england. thee lobster is selling in eight dollar per pound range.

that is an increase from last year. lobster is good. that is a look at the top stories. judge hasom cisco ruled ellen pao lemay pay her former employer more than a quarter million dollars. earlier this year, a jury ruled against the former partner in a trial that sparked national discussions on gender inequality. in an exclusive interview with emily chang, john doerr calls the case regrettable and says it is time to close this chapter in the firm's history. toi am sorry this happened ireland, to us, the tech industry. this is a civil case so the question is liability. notjury found we were liable after 5.5 weeks of

testimony. i am only.e joined it has been newly three months since the case. why now? think they realized people want to hear from john doerr. they want to know what was going on behind the scenes and how they feel about what happened. wonlso told me we know we in court but in the court of public opinion, they found it against the technology industry because there are not enough women in these high-profile goals -- roles. a lot more on that in studio 1.0. the firm catchl, operating. they stayed focused on their business. about the them current investing environment and whether or not we are in a bubble.

the amount of capital flowing into silicon valley. private equity firms, hedge funds. what do you make of that trend? is it creating more competition for you? >> it is incredibly competitive out there. we have to wake up every morning and and pete to win and work with the best. emily: is it great for investors? notf the markets were large, it would be bad for investors but that is not the case. we are in the midst of opportunity. emily: other investors have been a bit more games day about the thereio just saying that are startups out there that are burning cash. >> the cycle of success and failure goes on all the time and i think we will see the same thing here. if a company is at too high of a valuation and raising too much

money, that will not last forever. >> companies will fail but you can only lose one time or money. service a valuable new and that makes me roll better. emily: you put -- world better. emily: what do you see out there that could be the next google, amazon? .> there are three areas one of them is a revolution in education. it is one of the largest parts of our economy and well-positioned for improvement. emily: there have not been many multibillion education-- >> know but there will be. second, on-demand services. dash, look at door these devices are a remote control for the world. you can summon services and take

friction out of all kinds of everyday activities. emily: it is interesting you say ther investorano told me he thinks uber will do that. >> we were pretty thoughtful about that. is third area i think explosive is what happens with these devices in emerging markets. next billion cell phone users will come from india and china. the idea all of our contact information is trapped in this phone is an old idea. they belong in the cloud. i backed some entrepreneurs that have over one billion phone numbers in the

cloud. this is a really good idea. emily: kleiner made a big bet on cleantech. how much do you worry about missing the next google? >> i don't want to make mistakes but i don't want to repeat mistakes. our partners have said we want you to pioneer new areas. and example of one of those i am really excited about is .ugmented reality hopefully sometime later this year, you can put on a set of magic glasses. view -- it is not a bubble, a launceston come unprecedented boom. alix: magic glasses. you can catch all of emily's 1.0rview today on studio right here on bloomberg television.

still ahead on the bloomberg market day, stocks are shrugging off all of this bad greek news. the real star of the show is the nasdaq. more on the action as we head to the close. ♪

alix: a huge day for nasdaq is that away from closing at an all-time high. if it bit in its trading debut and part of that company's appeal is it is profitable which is unusual when it comes to tech ipos lately. record high at the nasdaq. why today? we were talking about this before we went on. us they willtold be taking this very slow and don't pay attention to the start date. that is good for stocks.

expectations continue to do well, especially in areas like health care and technology and innovative consumer discretionary areas which are heavy in the nasdaq so it is not surprising you see it in that group. alix: would you qualify it as a fundamental rally? it is a fundamental rally. ultimately, earnings will come through fine over the next year or two and that is important. what the fed told you yesterday they will not take the punch bowl away or if they do, they will do it slowly we can chase them down the how. alix: what kind of sectors can move without greece that are moving on true, topline growth in this environment? is exactly where we are focused. secular winners. companies that don't need a good economy. i think we see as much as i am bullish on the market, i am not on the underlying economy.

fed will come in at less than 2% gdp. what are we looking at? real bigre is the winner. big chunks of technology but really new technology companies and also at all consumer discretionary but more innovative consumer discretionary names. we are the leader on a global basis on those. alix: two of those described fit bit. yesterday, we had the huge spike. you are well below that now. 2976. what do you make of an ipo that cannot sustain that up at the top? >> and not an individual stock guide but the theme throughout is whereetionary phase healthy living is so important

and you see the same theme in supermarkets. why would supermarkets be doing well? people are so focused on their health and healthy eating and living that they're willing to pay up and that is good for margins, revenue. in a slower environment come it is harder to find margins. -- find revenues. point do you get concerned? the private market -- at one point -- what point does that bleed into the public market? market is about a 17 multiple. the range has been anywhere from a low of six to a high of 24. it is a wide historical range. i don't think you have a problem on valuations until you see those getting closer to 20. we are not near that.

if you look at the spread between equity valuation and on valuation, there is a huge region to think stock pd's will continue to go higher. are we never going to see it? >> i think this is going to go a lot longer. 1990's, 2500 days without a 10% pullback. we are far from that. alix: thank you so much. the close is coming up next on the bloomberg market day. nasdaq may close at a record high. ♪ . .

alix: we are moments from the closing bell. this is the bloomberg market day . i am alix steel.

[bell ringing] we'd did it. you are looking at a record day for the nasdaq, setting an all-time high, settling out at 5132, of i 67 points. really, you could blame this on the fed. yes, things are getting better, but they could be better. that fueled pessimism that ironically field stocks. a three-day rally, the s&p and the dow having their days in months. all of those sectors finishing in the green. here is joe weisenthal. joe: really driving home that points -- you look at the classics, animal spirits