terrorist attacks on the allotments, including tourists on a beach in tunisia. betty: the greek government rejects the latest offer from creditors saying that the proposal would lead to a worse bailout situation for the country. the latest on where the talks stand. zoetisnd shares of tank after valium pharmaceuticals refuses to buy the company. ♪ betty: good afternoon. i'm betty liu. i'm mark crumpton. let us begin with a look at the markets on this friday. stocks at this hour are mixed. negotiations continued toward a solution to greece's debt problems. we will have more on that in just a moment.

the dow jones industrial average of about 25 points. s&p 500 down a quarter of a percent. nasdaq composite down nearly a full percent at 5064. gold on this friday is moving higher, just fractionally. 117390. investors bought gold through physically backed funds. this as greece and its creditors had for last ditch talks. crude oil begins to trade below $60 a barrel. it is amid the lowest trading volatility in eight months. down at 5957. down at crude oil 59.57. betty: currency markets have been roiled by what is going on

in greece. the euro is down after the greek government rejected the latest bailout plans. let's get a look at the top stories at this hour. a historic day at the u.s. up in court. the supreme court ruled that gay couples have a constitutional right to marry. that cap's the biggest civil rights decision and have a century. that was a 5-4 related they cannot find a decision to deprive gay couples a right to marry.an > to american >> >> today we can say in no uncertain terms, that we have made our union a little more perfect. president obama will travel to south carolina to eulogize the pastor killed in charleston earlier this week. earlier this week, colleagues gathered at the state capital where his body was lying.

people havehan 80 been killed in terror attacks and for countries today. u.s. officials are investigating, but say there are no evidence that the attacks beaching to first was a resort fired upon europeans. 50 people were killed and most were tourette's. -- tourist. one suspect has been arrested. the authorities say they decapitated a man and drove high-speed into a plant. francoisesident hollande has elevated the security the alert to the highest level in the region after the gas factory attack. an infamous group says they attacked a peacekeeper base and killed more than 30 trips. the group is trying to overthrow the western backed government in somalia. in kuwait, a bomb exploded in a

shiite mosque during prayers. at least 16 people were killed. there's ago, the islamic state call for terror attacks to happen. this was during the muslim month of ramadan. officials have no evidence that the attacks recorded. this domain continues over the future of the greek bailouts. creditors extended a bailout by five months. greece would have also received another $17 million in aid. a offer was made by the international monetary fund, the european central bank, and the european commission. in the meantime, german chancellor angela merkel says she spoke to greek prime minister alexis tsipras and urged him to accept what she calls a generous offer. greece's bailout expires tuesday. that is the same day that greece must make a loan payment to the imf. betty: america's are growing more confident in the economy here. consumer confidence climbed to a five-month high in june. the university of michigan index

exceeded all estimates in a bloomberg survey. a stronger job market and record stock prices are making households more up the that is a look at the top stories at this hour. mark: the greek government -- that story continues. the offer that greece rejected to theave been extended nation's for at least five more months. betty: earlier today, former european central bank president talked with bloomberg television about the situation. >> the greek default would be a catastrophe for greece and the greek people, first by far. i think would also be a problem not only for europe, but also for the international community. mark: let us get more insight now. joining us from washington is thomas miller, the former u.s. ambassador to greece. athens is them man who wrote a story

about how the price of milk' may affect negotiations. what is the latest? >> is that greece rejected the latest offers made to them, but that does not mean that talks will not continue. they will be tomorrow and will hopefully get a deal before this bailout expires next tuesday. betty: we feel like we have seen this movie over and over again. ambassador, do you feel like there is this hope that they will finally be able to pull this off in the 11th hour? i feel like it has been the 11th hour all week. i have been on your program for more than five years now. we have reached the climax and things have to happen. and then they just continued. i think we are probably going to see that.

there are still substantial differences between the two sides. i do not think that one should minimize those differences. and they have very, very strong constituents that they have to report to him it is not just a deal, but matter of making a deal that they can sell to their constituencies. mark: it seems like american-style politics, but it is, in fact, something that mr. tsipras has been trying to do since he was named prime minister earlier this year. thrown red meat to his constituency. if the football reality setting in that greece may not get what it wants? thomas: i don't think it has. i think there are two different elements out there that a basically irreconcilable. stay inreeks want to the euros. that is a very strong sentiment. by the same token, a similar number do not want to see the austerity continued. ofo not see any real sign

let-up by the troika on the kinds of things they are insisting upon. is thathe things tsipras needs to go back to his constituencies and say that he got some relief on the 175% of gdp debt burden. the trick is not willing to do anything on that until afterwards. until after they have made a deal on these basic elements on the table right now. betty: mehul, back to you. i love the story. why does the price of milk and pasta determined the fate of greece? wayl: if you look at the these deals have been cast, there are big important issues being discussed. austerity and national tensions. if you look at these negotiations, there's a lot of specificity on simple

things like a movie ticket or whether on processed food needs to be taxed the same way. that is the devil in the details holding up a lot of these things. mr. tsipras needs to come back to greece and talk to his constituents and say you may have to pay a little bit more for milk or for pasta. that is how he is going to have to sell the thing -- the daily life of greece after this deal is signed. formuch it will cost medicine is a really important part of that. mehul just talked about the daily reality in greece. what will that reality look like if a deal is not reached? thomas: i do not think we fully know, mark. the uncertainty has scenarios that range from catastrophic to we can muddle through. i do not think that the negotiators should take a

chance on avoiding the catastrophic. the irony is that they are basically arguing over somewhere around a 2 billion euro difference. he could have many, many multiples of that 2 billion euro that would be the spinoff losses and side effects, after effects they do not make a deal. mark: mr. ambassador, we have a little less than a minute left. i must ask. the husband conversation during the course of the week on what would happen if there is a run on the banks in greece. there have been unofficial capital controls of about $3400 per person that you could take out of your account. are we heading down that road? world the beat capital controls on the banks -- will there be capital controls on the tanks in greece? the ecb.hat is up to once it cuts off its emergency line of credit to the banks, you will see. you have already seen substantial with rawls from the banks.

-- withdrawals from the banks. if the ecb cuts off the line of credit, i think there will be no choice but to have capital controls. mark: thomas miller, the former u.s. ambassador to greece. frombergs mehul joining us athens. betty: much more ahead on "bloomberg market day." a week to remember for social issues in the united states. mark: u.s. supreme court decision to legalize gay marriage, u.s. retailers refusing to sell confederate merchandise. the impacts in business of this week's historic week.

betty: welcome back to "bloomberg market day."

i'm betty liu here with mark crumpton. mark: let's go straight to julie hyman with a look at the markets. smp turning lower. julie: we have seen a decent amount of volatility. we have the rebalancing today that could cause some swings in the markets. that is the russell indices which track about 3000 stocks. they are now making the changes, their annual changes to the indices. any investors who attract those indices should benchmark against those indices have to also make those adjustments. that can cause a little bit of swing in the market. -- the cbs and you down s&p 500 down a quarter of a percent. they do not have a specific catalyst to point the finger at that change. we do have a sense of a catalyst for the next talk i'm looking at today and that is herbalife. earlier today, the "new york post" came out today and said the ceo talked about cleaning up the company, saying he did see practices that look like

pyramid. why is this relevant? ackman at pershing square capital has been conducting what is a multi-your campaign to basically bring the company down. he has a big short against herbalife stock. he says that they do indeed employ pyramid tactics. in a few moments, pershing square came out with a letter, calling for her life to release this video publicly. the shares have been down. they are not down much lower on that letter, but again, it looks like ackman putting a fine point on that report on the "new york post coast but this morning post" thisnew york on morning. has been going down as the stock has had its run. take a look as well as palo alto , one of its competitors and how they have done for the year today. we have seen both of the stocks soar this you could fire i up

, both handily outperforming the market. one of the out performers in today's session is this push pull phenomenon is deere. it looks like it is gaining on corn prices. we have seen a rebound after a long decline for corn prices good a little bit of a relief rally for deere, up 2.8%. betty: thank you, julie hyman. now to the top stories crossing the terminal at this hour. the pakistani taliban issuing a warning that it will target the main electrical company if it does not end power outages. that is where it intends he waits has killed people in the past week. the chronic power cuts during the heat wave has caused public protests. temperatures began to drop yesterday. the former ministers of iran, and france are leading the way to talk about iran's nuclear

program. they are trying to overcome disputes ahead of a june 30 target date for a deal could foreign ministers of russia, china, britain, and germany have not yet said if they will participate. a treatyan has signed with the state of palestine and hopes the official recognition will help stimulate peace with israel. the treaty was signed today at a ceremony at the vatican. israel had expressed disappointment with the decision . it is the first legal --ognition by the balchem vatican of the palestinian state. those are the top stories at this hour. back to the u.s., social issues have in making big headlines this week. the supreme court decision on gay marriage and the decision by major retailers to stop selling the confederate flag. mark: in charleston, south coletta, thousands of mourners are gathering for the funeral of a leader of a black church were nine people were gathered last week. president obama will deliver a eulogy today. joining us from washington to talk about making new policy in america, bloombergs josh green

thank you for your time today. talk about the societal applications of what is going on this week, particularly how it concerns the supreme court rulings. josh: it is a sign of how quickly social issues are shifting and american culture. it is not something you necessarily see in terms of laws being passed by congress. not a lot has happened legislatively in a pocket was -- and obama second term. but this week, the affordable care act really and the legalization of gay marriage in the surprising movement of race and the confederate flag in the wake of that tragic south carolina massacre. they make this probably this the most consequential week of obama second term and point the way forward for how quickly the country, and by extension, washington is want to have to continue to involve on a lot of these issues. betty: washington and also political parties, right, josh?

what does this mean for the conservative arm of the republican party, the tea party conservatives that we had heard so much about and were so influential in the congressional and presidential elections? for a while, we thought it might be heading to the brink. what does it mean when we see these decisions by the supreme court? josh: it is a tough week if you are a tea party conservative because everything is not going your way. the interesting places to look at the reaction of the 13 republican presidential candidates, which range from hey, listen, the court has weighed in. it is the law of the land. i don't like it, but we will move on. the other extreme candidates like ted cruz say i'm not going to stand for it and introduce legislation for states to undo the rights to gay marriage if they want to. it still looks like it will be a flashpoint in our politics. i think it will be more contained in the republicans feared than it is going to be a national issue because the court

has weighed in and said this is now the law of the land. mark: is this a question of where it seems like the politicians in washington might have to catch up with the rest of society as opposed to use league other way around? josh: i think that is exactly right. i think marriage is a wonderful illustration of that. t is hard to wrap your mind around this, but barack obama, elite clinton, and joe biden were against gay marriage when they ran for president in 2008. now we are and every democrat is for. it is legal. republicans are still adjusting. the is an issue where momentum and the real passion within grassroots was in the culture. washington politicians were followers, not leaders. i think that may be true on other issues, social issues like marijuana. who knows what else is coming down the pipeline? and guns, right, josh?

the outcome was that this was a hate crime and was because of the confederate like it is a lot of the issues that liberals want tackle. gun control -- we still have not addressed that in this country . josh: that is a notable exception to social issues. obama took a shot at that after new town killings had bipartisan support in the senate for gun control. one of the striking things that you see in terms of looking at the political fallout in the wake of the trials and shootings is that there really has not been a renewed national issue for gun control. i think it is an area where politicians understand that given the passions among gun rights supporters that there really is not a path to passing something through the republican controlled congress and getting

it signed by the president. energy hasot of that been channeled or redirected into taking down the confederate flag. mark: bloombergs joshua green joining us this afternoon from washington. joshua, thanks. a lot to talk about this week. it has been a very busy week on europe to the united states supreme court. betty: it is incredible how this country has changed in our lifetime. mark: very much so. if today was any indication, the fight for gay rights is something that has been going on which predates our lives. weighedhe supreme court in and josh was talking about some of the comments from the gop about the decision. some of the comments from the supreme court justices were just as passiveness -- passionate. betty: much more ahead on "bloomberg market day." ♪

mark: welcome back to "bloomberg market day."

i am mark crumpton here with betty liu. betty: it has been a wild day of shares for zoetis. of value.off with more is drew armstrong. drew: that was fast. in theas an 11% gain stock after valiant had considered an approach. this morning, another report saying, nope, not at all. it's like it never happened. mark: what about the news that we were hearing that bill ackman was involved. ? inw: he has a huge stake this company. he pushed for cost cuts there. they fired about a quarter of their employees. he seems -- sees it as presently fat and has potential to get

their earnings up. it could become an m&a target at some point. what we're hearing is that it is not the case at this time around. drama point isnext what? drew: we are watching all this m&a news in the health sector. we will be watching that into the weekend and next week. that is following the supreme court obamacare decision yesterday. betty: thank you so much, drew armstrong, r bloomberg -- r bloomberg news reported that leaves me to sign off. half hour,e next islamic terrorist attacks launching attacks. we'll have the latest when we return wit. ♪ we live in a pick and choose world.

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so your sleep goes from good to great to wow! only at a sleep number store. right now, find the lowest prices of the season, with the c4 queen mattress set only $1499.98. know better sleep with sleep number. mark: the bloomberg market day. welcome back to -- welcome back to the bloomberg market day. i'm mark crumpton.

more than 80 people have been killed in terror attacks across the country -- the world today. in tunisia, gunmen opened fire at a beach resort popular with europeans. at least 28 were killed. the government said most were tourists. one suspect was arrested. france, and air products & chemicals factory was targeted. attackers to tap a dated -- decapitated one man. french president francois hollande has elevated the security alert to the highest level in the region. we have received word from different prosecutor that four people have been arrested in connection with the attack. in somalia, and islamist groups as an impact a piece for space and killed more than 30 troops. the group al-shabaab is trying to overthrow the western backed government in somalia.

in kuwait, a bomb exploded initiate mosque during friday prayers. at least 16 people were killed. the islamic state called for attacks to happen during this holy month of ramadan. there is no evidence of coordination but there is in's permission. -- there is evidence of coordination. isis has advised people who believe in their ideology to carry out attacks. it is not a coincidence. it reflects a commonality of ideology behind these attacks. , ak: in southeast alaska plane carrying sightseers crashed into a cliff. all nine people aboard were killed. the crash occurred at ella lake. passengers had been on a cruise on the holland america should. plan to require all public schoolchildren being designated has passed a major hurdle.

protesters demonstrated outside the state assembly approved the plan. it strikes down the personal belief exemptions. passed a senate similar bill. supporters say california needs to boost vaccination rates after an outbreak of measles. boeing ceo jim mcnerney will get almost $4 million a year when he retires. he steps down as chief executive next week and will stay on as chairman until next year. get $900,000 annually from two boeing plants. he is also getting another $3 million a year for 15 years. back to our top story today, over 80 people have been killed in terror attacks in four countries. militants attack tourists in tunisia, shiite worshipers in somalia,eacekeepers in and a french gas plant. right now there is no evidence that the events were coordinated but all the attacks had similar hallmarks.

so what does this say about the strength of islamic extremists? let's bring in john walcott from washington, d.c., the head of our diplomacy and reporting team. fred burton is the vice president of intelligence at current member of the state department. thank you very much for joining us. fred, let me start with you. exactly what more do we know? we are hearing it seems these attacks were not coordinated but they very similar hallmarks. fred: they certainly do. you have to keep in mind there is brilliant in some facility and what the call for action by the islamic state last month, in essence what they have done, is sent word out to support what we call here the leaderless resistance. meaning there is not a command and control element at play. it is to act locally.

those who are sympathizers are carrying out these kinds of attacks in support of the islamic state cause to take action. john, what do we know about the reactions so far from the u.s. intelligence community? john: so far, it looks like secretary chertoff was right earlier, that there is inspiration but not coordination. what the intelligence community is doing now is looking for any coordination, going over huge databanks of e-mails, online postings, and so on, to all, if any of the attackers were in cooperation with isis elements in syria or iraq, whether anyone travel to syria or iraq to be trained there, or whether this was simply a matter of people literature, being frustrated by their situations in france or tunisia or

wherever, and taking it upon themselves to conduct the attacks. mark: fred, why today, why now? day: this is an important with the call for prayer throughout the middle east, with the call for action by the 23rd, theate on june intelligence community was expecting some sort of action to take place. case wase facts and in the suicide attack inside the mosque in kuwait. that appears to be a pretty good-sized bomb inside the mosque. it takes a good amount of planning to make sure that you are capable of cooking up a suicide vest like we saw. with the numbers that we saw killed and injured, that is a little better planned attack than what we saw elsewhere. mark: speaking of planned attacks, in kuwait, they have not been the target of attacks for years now. all of a sudden, this. that is that it

was not coined but it was a shiite mosque. there have been attacks, some appear to be initiated by is elements in saudi arabia and kuwait against shiite targets. one of the big fault lines in that part of the world is between the two main sects of islam, sunni, and shia. fred, can we infer something from the fact that a lot of foreign tourists were the targets of these attacks today? without a doubt, especially when you look at the shooting at the beach and hotel in tunisia. this is an effort to disrupt the economy of the nation and it is not a very cockaded attack. i think that is the scary part you look at what we saw today,

meaning it does not take a lot of planning, does not take a lot of people. an just need a person with ak-47 to walk up and start shooting people and it is extraordinarily difficult to prevent that from occurring. guess, continuing on with what fred said, what was the message that these extremists were sending to the international community? i think the underlying message is we are on the move and you cannot stop us. at the same time these attacks has been onlace, is move in syria and iraq, so there are two different types of operations going on here. one is more or less conventional military operations in the area they have declared as their caliphate. the other attacks are much farther flung, much farther from the borders of the caliphate. ,he underlying message is

simply put, that we are on the move and you are not able to stop us. mark: fred, what message does this send to saudi arabia and u.s. allies in the region, will they now be emboldened to step not, perhaps,nd rely on the u.s. to take the fight to the militants? fred: it is hard to say. after many years at the state department and my time here, it is hard to predict when a trip wires will be to cause additional actions. i do know that when you are looking at this from an intelligence problem, especially liked what we saw in france, there is simply too many islamic state sympathizers and supporters for the french security service to survey of. and for that matter, the european service. it would not surprise me to see additional similar attacks like that we have seen today. does that surveillance increase because we are trying

to find people might be inside of these groups who can give us adequate information? without a doubt. you need that human intelligence or you can never prevent these attacks from occurring. that has always been the achilles heel. you have to have human assets, sources inside these organizations to tell you what they are up to. mark: fred burton is the vice president of intelligence at joining, john walcott us from washington. thank you. in athens, greece, and anti-austerity rally is underway as the negotiators are trying to reach some sort of deal, some sort of compromise. the story with greece, as it has been the last several years, negotiators are going down to the wire. the prime minister alexis tsipras meeting with some of the international creditors from the international monetary fund, european central bank.

the prime minister using unusually strong language, using the word blackmail to describe what the negotiations have been like, at least from his perspective. talks going down to the wire. stay with us. ♪

mark: welcome back to the bloomberg market day. i'm mark crumpton. let's get a check on the markets. julie hyman is with me now. again a mixed picture. you are telling us a half hour ago the s&p had turned lower. julie: stocks coming off of their highs of the session. any bigot seeing

catalysts, but it is the russell rebalancing today. they are rebalancing the indices, so that provides an uptick in volume, especially at the close. right now s&p very little changed. the s&p, atinside the sectors, and you get a feeling of this push and pull. , consumer discretionary, financials on the rise. tech and materials and health care declining. sort of counterbalancing the moves we are seeing. another chart, to show you today has to do with how companies are spending their cash. this is coming to us from david wilson. this is his chart from today. this shows by backs and dividends as a percentage of operating profits. this is from data compelled -- dow jonesy s&p and

indices. this black line is above 100. companies are paying out more in dividends and by backs to shareholders that they are earning in operating profits because of this push we have seen for companies to return cash to shareholders. .retty remarkable chart getting back to what is going on in today's session, i want to point out the move in the nasdaq. technology is seeing a big slug inay, down .75% right now the nasdaq composite. what is leading us there? in a big sense, semiconductors. thann came up with below expected estimates. driving down the other chipmakers along with it. mark: julie hyman, thank you. now let's take a look at today's market close in asia and europe. european stocks finished the

week up by 3%, a bit like a scarlet pimpernel. was going to be an extension, $15 billion to inece, to extend the bailout november but the greeks have said no. autos, banks are leading the charge. weekend, weme this could see the beginnings of a parliament deal in greece. banks are leading the charge on the day. is, monday, if there is no deal, could we see capital controls? deal, we could see perhaps the best rewards. the usa owns $5.7 billion worth of stock. you are the biggest shareholder in the greek stock exchange. i grant you it is the size of a medium company, but money every

day this year has gone into the etf following the greek banks. a couple other individual stocks. seeing some movement in the u k, wpp. potash, they make fertilizer, they make everything grow. will they accept an offer from potentially the potash corporation? who would've thought they could bring a stock up by nearly 40%. here is the euro. we are going down, down half a percent. the fx boys are not as optimistic on today. to take the euro lower? euro-dollar down half a percent. overnight, chinese stocks

sink the most in five months amid concern the country's longest ever bull market may have peaked. juliet has this report. the china stock run deep and friday, the chang high on track in its biggest loss since june 2007. asian stocks sliding on greek concerns. we saw particular falls coming through in the technology and industrial space. morgan stanley issuing a a note advising clients against buying on the dip saying the shanghai composite june high was likely the peak. however, we saw healthy appetites for ipos and financial firms. 40% before rising being suspended from trade. mark: i him joined by scarlet fu.

a storyg is publishing about the nfl and the use of drones. this is interesting. they want to do is fill practices from way up high, getting a birds eye view. seeing how everyone throws the ball for a competitive advantage. we know the patriots, the cowboys, and giants have used it to take their practices. mark: but there is a problem, the faa has to approve it first. scarlet: you need a waiver for any commercial purposes. filming your practice so that you can play better for the upcoming game will be a very commercial purpose, and extremely motivating commercial purpose. on then our story terminal, one of the teams was a dallas cowboys and the faa said it was in contact with the cowboys to explain the proper procedure for obtaining the necessary under tension. --necessary exemption. says that itfaa

takes more of an educational approach to violators. even if you use a drug to do other things and you are contacted by the faa, only a handful of operators are fined. this is really over safety. there have been no deaths associated with the use of these drones, but there have been some injuries. henrique iglesias cut his hand from a flying grown. -- drone. he got a bloody hand. mark: and some surgery. hour, a in the next partner at robeson gray presented one of the arguments before the supreme court for the gay marriage decision that came out this morning. i'm curious to get his personal take on arguing before the supreme court. what was it like, what was the high point, what was the low point? it will be an interesting behind the scenes take on it. mark: thank you. why a mexican oil

company is causing headaches for hewlett-packard. ♪

mark: welcome back to the bloomberg market day. i'm mark crumpton. federal judge in california says hewlett-packard must face a corruption lawsuit filed by pemex. oil giant cory johnson is with us now with more on the case. tell us why this matters. cory: back in april of last year, hewlett-packard settle the charges under the foreign corrupt practices act were they admitted to paying bribes to get business in mexico, poland, russia, paying $108 million in fines, one of the largest that

any companies have had to pay in the past. they admitted that they were paying people at certain companies and officials to get business center way. --x was one of the companies companiesne of these listed in the bride. in u.s. courts saying they wanted to undo the deal, wanted some damages, $6 million could be at stake here. hewlett-packard made the case that a mexican company cannot -- hewlett-packard employees in mexico may have paid money to mexican officials in mexico to a mexican company, so therefore the law should not be applied to the u.s. but it is a u.s. company. mark: sounds like sovereign rights. cory: the quotes from the trial were pretty interesting. the prosecutor use the word a number of times in his

opening statement. mark: we are talking about something under the rico statute. rico these are civil charges, which is unusual as well. d thought that by settling, they could forget about it, but this is all about internal controls. whenever a company sites internal controls to make it sound like something like the computer didn't work or the filing cabinet got stuck. mark: what does this mean for the bottom line? itn: it is really -- cory: is really unclear. deal for really a big hewlett-packard, but it's important to shine a light on

these sites of practices. these types of things happen in american businesses. this is a company that has done some really bad things in the past to get business to drive the top line. are there political implications here, what does this mean between the relationship between mexico and the united states? cory: i don't think so. when the u.s. found out about it, they don't with hewlett-packard. to make the settlement a charges go away, but i'm not sure that there is much government involvement at all. mark: what does this mean for pemex? cory: they had taken a strong stand against corruption in the country. just look at petrobras. there was enormous corruption there and pemex took a stand against it. thoseis this one of stories were you just keep hearing this over and over again, that this happened between companies and nobody seems to get the point that they will always get caught?

cory: first of all, they don't always get caught. they were caught this time, and hewlett-packard, to their credit, paid after they were caught. the suit has not gone away yet and is a reminder that these things go on at the biggest and best american companies, like hewlett-packard. mark: thank you, appreciate it. coming up, thousands of mourners are gathered in charleston, s.c. for the funeral of reverend clementa pinckney, the leader of a black church where nine people were murdered last week. president obama is scheduled to deliver the eulogy. we will have the latest from charleston, coming up. ♪

is 11:00 a.m. in san francisco, 2:00 in new york, and 2:00 a.m. in hong kong. four terrorist attacks in for cause everyonees

to go on high alert. scarlet: degrees prime minister accuses european banks of blackmailing them. china stock market drops more than 7% and put to close to bear territory. is this a breather or has the bull market run its course? good afternoon from bloomberg world headquarters in new york, this is the bloomberg market day. with scarletpton fu. scarlet: we begin with equities on this final trading day. it is a mixed session with the s&p losing two points. now industrials getting a boost from nike and it's better than expected results last