turning up the heat against alexis tsipras to design a plan to save the euro as the nation was forced to extend capital controls. are in: chinese markets freefall. government intervention has failed to stop the plunging stock market. soccer, golf or rory mcilroy gets a serious injury. how far this is for his sponsor nike. good afternoon from bloomberg old headquarters in new york. scarlet: let's get straight to the markets. it is a risk off day but fairly .enign if you look at the euro, fall to a one-week low versus the dollar . earlier in dropped as much as 1.3% but pared its losses after

the greek finance minister resigned. theyen is stronger against news. on that higher prices for treasuries, anything that is affiliated with the safe haven trade. lower yields. to 2.29.ar going down of course, a quick check on equities. you have losses here of about two thirds of 1%. not so dramatic in terms of the magnitude of the slide although energy shares are the worst performers, as crude oil is off by 6.5%. $53.13 a barrel. futures -- the gold-dollar thing is still going on, now that the dollar is getting stronger. people looking for places to place their money. let's take a look at our top stories. we begin with the latest on the

fallout from the greek referendum. the greek government has sworn in euclid tsakalotos as the new finance minister. it comes one day after an emergency meeting with creditors . the economist was prime minister bailout negotiator in talks that were halted before calling for the ballot referendum. greeks overwhelmingly voted against proposals for more bailout cash. bill gross told us earlier today the situation could get worse before it gets better. in nine ofrs we are the hurricane. i do not believe this situation really is calm. ultimately, it comes down to whether the greek debt and the greek standoff, whether or not the greeks want a significant restructuring of their $350 billion euro debt. the troika does not. isk: we have learned greece

extending the bank called a capital controls through wednesday. the german chancellor angela merkel is in france for talks with french president francois hollande about the greek crisis. chancellor merkel and president hollande say they respect the greek vote and that the door remains open for negotiations. theret: authorities say is no evidence a shot was fired earlier today at walter reed national military center. a 911 caller reported hearing a shot inside building one, the original hospital. police have interviewed the person who made the call. the investigation is continuing. mark: president obama making a rare visit to the pentagon today. he will ask his national security team for an update on the fight against islamic state militants. the coalition led by the u.s. through 38 bombing missions over the weekend against islamic state targets. the president is expected to hold a news conference today after getting a progress report. a deadly fourth of july

weekend in chicago where gun 10 people dead and 54 wounded. a seven-year-old boy was among those killed. he was shot in the chest during an attack aimed that his father who was a gang member. most of the violence occurred on the south and west sides. the city endured a same stretch of violence at the same time last year when 82 people were shot. thousands ofs of april cheered pope francis as he arrived today to celebrate mass in ecuador. he waved to the crowds as admirers waived handkerchiefs and vatican flags. in south first stop america. he is also scheduled to visit bolivia and paraguay but is skipping his homeland of argentina. scarlet: in south carolina, the state legislature is considering whether to remove the confederate battle flag from the capitol grounds.

one proposal calls for the flag to be moved to a civil war museum. mark: teva pharmaceuticals is getting ready to make another run at mylan. they will raise their bid par 4 dollars to six dollars per share. the original bid valued mylan at $4 billion to $6 million. scarlet: europe is suffocating from record high temperatures. a heat wave has pushed the mercury to its highest levels in germany since records began in 1881. the national weather service says one reading from northern bavaria topped 104 degrees fahrenheit. on there is some relief way. storms across the country are bringing temperatures back down. mark: an american rock band long strange trip comes to an end. the grateful dead took the stage in chicago last night for what the group said would be its final show.

and responded accordingly. 71,000 tickets were sold, the most for any event in the history of soldier field. ended out the band's two weaken performances in the windy city, both of which topped 70,000. the previous record was in 2009, from a concert from u2. nearly 60,000 tickets were sold for that show. coming up in the next half hour -- scarlet: while most are focused negotiations, iran's negotiators are going down to the final hour. mark: amazon hopes to shop a starting -- start a shopping holiday of its own as it starts a momentous occasion for the company. scarlet: china struggles to keep the bull market running. those stories and much more coming in right here on the bloomberg market day. mark: greece, the european

central bank, announcing they would keep emergency liquidity for greek banks unchanged. joe weisenthal is live in athens with the latest. this latest news we are hearing from the ecb, does that change the dynamic at all for greece? think it was basically expected the ecb was not about to give the greek banks anymore liquidity. the bank holiday continues until wednesday. that cannot be much of a surprise. the one line in the press release that people are paying attention to is the line about adjusting the haircuts on collateral. it is cryptic, does not say the amount of the adjustment, does not say whether the adjustment is up or down. the ecb may be tightening the screws for greece even further. on, the what is going banks are on life support, they need to have a deal soon for the

banks to reopen, if there is any hope for that. right now they are keeping the leash very short. scarlet: there is obviously a lot of emotion on the streets of athens. earlier on you were speaking team and you were accosted by someone as you are giving your report. can you describe what happened in that encounter? the first thing i want to point that is, what happened was not reflective of what is going on in athens. it is very peaceful. the event that i was in when i was very the report relaxed people walking around, in cafes. there was a woman, who is a troll,own provocateur, even harasses yanis varoufakis and others, and she was able to jump in the shot. not really reflective of what the scene was like.

does not feel like it's an unsafe area. follow: of course, you that up with a selfie with her on twitter, in the spirit of international cooperation. i have to ask you -- >> as soon as the cameras were off. to ask you about this change in leadership, finance ministers. what does this bring to it continued negotiations between greece and its creditors? obviously, varoufakis had become a lightning rod in terms of how he was perceived internationally, by creditors, and even internally. goeskes sense, as tsipras for one/shot to get a deal, varoufakis stepping out of the way may make it easier. but the government has said it wants a debt reduction. this is not that. the new finance minister is

still very left wing, and there is a long way to go despite the change. mark: joe weisenthal, thank you. scarlet: for more perspective, we are now joined by clive crook from washington. you have spent over 30 years thinking and writing about politics and economics. politics argue that trumped economics in the lead up to the referendum. we do not know the full extent of the economic costs for greece because of the capital controls and the fact that they have been extended until wednesday, do we? we do not. we know the costs are already colossal and it will only get worse the longer it drags on. have made agreeks big miscalculation. this mood of celebration over the no vote is really desperate stuff. things have not moved. i think they miscalculated. they expect europe to give way, and i don't think they will.

i think this is now on course to end very badly. what do the creditors think, at this point, what do you suppose their mindset was after the greek people gave a resounding no, over 61%, to austerity? clive: i was surprised by it, to be honest. i had not expected such a strong no vote. i was hoping there would be a yes vote. i think what it has done is likely hardened opinions. as you know, there are many in european finance ministries who feel they have had enough, it is time for greece to go. the challenge for the eurogroup, in their view, is to manage .rexit sensibly, calmly i think mines are turning to that issue. they are not turning to what it will take to do the deal. i think they are moving on to plan b. that is why i said i think the

greeks of made a big miscalculation here. week, we spoke with the chief negotiator for 2012rivate sector back in when greece's debt was restructured. here is what he said about the original prescription. >> the focus on austerity has been somewhat misplaced. had there been a shift to a more growth-oriented program, and a little less pressure on the tax increase over the last few years, particularly in 2013-14, we may not be in the situation we are today. scarlet: what has each assignment learned since those negotiations that may inform what they do in this round? it's a good question, but it would be hard to say that either side has learned anything. i agree with what he said. this is a crisis that did not need to happen. havenk both sides

mismanaged it egregiously, and the blame is not come in many means, not onny greece. he could've sold to his electorate and this did not happen. the problem is, the no vote in trenches tsipras' sel-righteousness -- self-righteousness. -- no one is learning. i have to ask, is this a crisis that can be contained, or is it a crisis that will end in contagion? clive: i think it can be contained in the short run. that is one of the problems. is european calculation now that they can manage a greek

exit, they could manage the fall. the problem is, the next crisis, the next time around, people will know that the euro system is breakable. europe will come to regret sending that message. scarlet: in the meantime, that message is being sent as the two sides determine who negotiates first. clive crook, joining us from washington, thank you. still ahead, we are 36 hours away from yet another iran nuclear deal deadline. it is a deal within reach? scarlet: we will head to vienna for the very latest. ♪

mark: welcome back. let's go straight to

julie hyman with a look at the markets. volume is pretty much in line with the 10-day average year. we have seen it trending down over the last year, but if you look at what stocks are doing, we are seeing not a lot of activity. this is reflected in the volume that scarlet alluded to, reflected in the prices we are seeing. there is not a panic here the greekpost referendum. still a lot of questions out there as to what will now happen with grace. typically, stocks do not react well to uncertainty, and they are not reacting well, but not that badly. take a look at where we are seeing the most pain. it is a pretty broad-based selloff. this is a map of the different groups. utilities are down the least, energy, materials, industrial down the most.

you could argue that oil is having more of a detrimental effect to day than greece, down sharply today. a combination of factors between what is going on with grace and china, as well as the negotiations and dragging on with iran. if you look at energy stocks, individual movers, you can see the pain they are feeling. beennal oilwell varco has declining and accelerating. diamond offshore, some of the worst performing energy stocks. banks are also declining as you might expect. there is the perception that there is a ring defense around greece, that there will not be a lot of contagion. nonetheless, uneasiness around banks. the perspective is that many of the banks had been trading at multi-year, if at record highs. finally, our two proxies for greece. andave the greek etf grek the national bank of greece.

both trading in the u.s. as the greek markets remain closed. both are down sharply. that is where we are seeing the pain today. scarlet: julie hyman with the latest on the markets, thank you. mark: let's take a look at our top stories. mcdonald's is going digital in china. the world's largest restaurant chain will begin testing mobile ordering and payment in its chinese outlets. sales in china fell 5% in the first quarter. that was after reports linking the fast food chain with a company that sold expired meat. people signed000 a petition demanding the removal of reddit interim ceo ellen pao. among the reasons, she fired a popular executive and has been accused of censoring online message boards. messagethe credit's boards experienced blackouts friday as moderators protested. gained national attention because of an unsuccessful lawsuit against venture capital firm kleiner perkins.

the deadline for a final deal on iran's nuclear program is the name. iran is pushing for an in to the united nations arms embargo despite u.s. opposition. today, chinese foreign minister said that the agreement is thein reach but that secretary of state john kerry is tempering that optimism. here is what he said yesterday. days, wehe past few have, in fact, major new in progress. but i want to be absolutely clear with everybody. we are not yet where we need to be on several of the most difficult issues. scarlet: as for the iranians, officials were quoted as saying that diplomats may need an additional day or two to drafting agreements. indira lakshmanan on was in vienna talking about the final sticking points. the iranians definitely want their sanctions relief more frontloaded, earlier.

the argument is if they are taking steps to curb their nuclear program, instead of waiting until all the steps are taken, they should get some relief at the beginning. that means they are pushing hard on the other side for access to more than $100 billion in frozen assets, oil funds that way have in overseas accounts. we also know there is an issue of access to site and nuclear scientists, to resolve past questions over their perspective military work. just today, bloomberg discover that one remaining problem is out of the yuan arms embargo. the u.s. once delaying the lifting of that arms embargo. does not. certainly, also the question of how long it will be, there will be a snapback make it isn't to allow sanctions to automatically return, if you're on were to cheat on the deal. those are the main sticking points. olivia: bring us up to speed of what we heard in the past 48

hours. secretary kerry spoke yesterday, pouring water on hopes of a deal. i reading official sounding a bit more optimistic. what is your take, how close are we to a deal? i think my take is probably closer to that of the chinese foreign minister who said this is make it or break it point. we have to get it done but it is up to the u.s. and iran to make the hardest decisions. what we have is all the ministers from the p5 plus one countries in the building behind me negotiating as we speak. when they willing to do is get the deal done today or tomorrow. i do not know whether it will be done, because as john kerry said, he is willing to walk away if the u.s. does not meet its own run line. we may see the talks drag on for a couple of days. most interesting of all, with the eu foreign-policy chief, he says that if there is no deal, there is no plan b, that there

would not be another extension, and they would be in new territory at that point. scarlet: that was indira lakshmanan on. coming up, amazon is hoping it will be the black friday of the summer season. find out with the latest plans are for its prime service, when we return. ♪

scarlet: amazon.com is getting ready for its 20th birthday and the company is a juicing prime day. discounts in nine countries for prime members. the discounts building -- begin july 19. amazon is hoping this will be the black friday of the summer season. mark: prime is the reason amazon turns a profit in the fourth quarter last year. may convince more consumers to pay the $9.99 annual membership fee.

first you have the day after think giving -- thanksgiving. scarlet: then there is cyber monday. mark: i can clearly forgot about that one. scarlet: amazon will not say how many prime members it has, only that it is in the tens of millions. to 40stimate 30 million million in the u.s., and globally, around 50 million. my question is how many of these customers become loyal members only by default, because they are too lazy to cancel the service after the pretrial. mark: don't hold back. we will see you tomorrow. scarlet: much more coming up on the bloomberg market day. china takes steps to avoid a stock market crash. ♪

scarlet: welcome back to the "bloomberg market day."

beginning with starbucks, yet again starting tomorrow wage increases will go -- price increases will go up. small and large crude coffee will go up by $.10 in most areas of the country, bringing the price of a large coffee to $2.45 in most stores. american apparel is closing stores and cutting jobs, the company says the move will save $30 million, though it is not clear how many stores or jobs would be affected. they have lost over $300 million over the past five years. warren buffett helped take over h.j. heinz and helped it merged with kraft foods earlier this year and is now enjoying a new reward, a stake of $24 billion in the new company. berkshire hathaway invested about 9.5 alien dollars. the new ceo at rolls-royce is moving quickly on his second day on the job he is cutting the

company's outlook. he is also halting a stock buyback program. the man has been sluggish for engines used on most airbus models. oreos are getting a new, skinny look. they will be adding oreo thins to their permanent u.s. lineup starting next week. they will have a similar cookie to filling ratio but the -- except they are slimmer. for cookies will contain 140 regular compared to oreos, but who is counting. those are your top stories. coming up in the next 30 minutes, these prices will likely not see relief anytime soon. costs for farmers are going up. and the banks and greece, closed until at least wednesday. it view when they finally open? mohamed el-erian says -- get ready. a deal on soccer with friends could be costing rory mcilroy

the chance to defend his title. that and much more coming up on "market a." china, chinese authorities are sliding their meltdown with old and new, like suspending ipo's and putting brokerages together as buyers of last resort. these efforts to prop up the shanghai index has led to comparisons to the wall street crash of 1929. back then as you know jpmorgan and other big financial firms pooled resources and it did not wind up working out so well. joining us to discuss china's measures, the chief investment officer at crave fund advisors, which provides china focused analysis. let's bring up the chart of the shanghai composition with the dow in 1929. is this a valid comparison? will these support measures be similarly fleeting, as we saw with the u.s. in 1929? >> the chairman has guaranteed,

basically, that trillions in r&d will be used to stabilize the market. global investors have seen that when central bankers tell you that they will support the market it has been a wise investment to wallow those actions in japan, europe, and in the united states. we have multiple brokerage firms committing over 20 billion u.s. dollars into the stock market, as well as 25 mutual fund families putting money into their own fund. they have a very coordinated effort to stabilize the market and at the same time try to deleverage some of the margin account. i think that where you might have continued pressure is outside where they are focusing their efforts. small cap stocks have really been left out of a lot of the language from the regulators and policymakers. they are very focused on blue-chip stocks, like we hold within kba. these are large cap, mid-cap,

big state owned enterprises. the government is very focused on keeping this market up. even so, they are coming up with these initiatives fast and. is. what exactly is the level of desperation here? >> in june we had two dozen secondary offerings with so much apply coming into the market that it weighed on the market. we some margin calls taking place. last weekend we had interest rates cut, as well as the reserve bank reserve requirement ratio cut. that did not stabilize the market, so this past weekend we had another full-court press to stabilize this market. they will literally be buying it going forward. is one of the things they pointed out, saying that the chinese security firms will suffer the most from government support measures he can are suspending ipo's and

buying shares directly. get hit and at the end of the day this is one area of the market that a lot of look asaid did not overvalued but these measures are now going to destroy industry earnings and balance sheets. my next life i might want to come back as a chinese broker. done and the most switch to china the top securities in china last night, 10 stocks traded over one billion shares. that's just 10 stocks. imagine if you are getting a penny per share. you are making a lot of money as well as they have made a lot of money in terms of ipo's. i'm not sure there will be tears for the brokers because they have partially led to this extensive use of margin in china without educating the retail investors, so now the government is really making them pay for it , but again the volume in china is so large that i think they are going to do all right in the long run. scarlet: all right, making up for it i taking over volume.

hong kong stocks have entered a correction as well, though they are not as richly valued. scarlet: -- >> is based on the believe that you have 80 newly shared names. we really felt that that was .ope, not arbitrage because shortselling is not really allowed in china. there is no way to really call it arbitrage. you can hope that these shares catch up, but back in 2006 those shares first went to a premium and stay that way until 2010. that is a long time to wait for arbitrage to collapse. ultimately eight shares are the biggest losers in the long run because you have the u.s. list of names of shares going into indices in november and to fit them in you have to sell those down. with those shares coming in, they get sold down again and in

the long run the hong kong names are the biggest losers in terms of the china inclusion story. they are basically at the detriment of those shares going in. scarlet: you mentioned the msci indexes. does the government move fast? attitude indexes we are talking about quotas and currency convertibility. >> without question we are already hearing csr see saying that the ownership issue is being addressed in quotas that are being abolished through programs and as long as they have the hong kong stock connect up and running it allows msci to start the inclusion process. isthere added -- scarlet: there added urgency? >> without question. policymakers seven working over the weekend to support the market. what they are asking for is not insurmountable. they will make it happen.

scarlet: brendan, thank you so much. coming up, olives are more popular than ever and demand is dropping with prices looking nutty. get it? be right back. ♪

scarlet: welcome back. all lives are more popular than ever. americans are eating double the amount that consumed seven years ago. spreads are all the rage, replacing peanut butter in lunchboxes across the nation. what is fueling this craze? more kids with peanut butter allergies, popular protein rich diets, and a growing assortment

of all and rich products. forget mattel a. utella.ele--- n alex taylor is with me right now. -- alix steel is with me now. peanut butter sales fell 4%. alix steel: the fascinating thing is that you are dealing with a losing demand and supply that is struggling. the crop was down 7% last year. the u.s. makes about 80% of what we use here in the u.s.. and we have that horrible, horrible drought and all is our very water intensive. you have that issue, usda expects production to be down again this year so you have the double whammy and him, higher prices. scarlet: there is a huge cost. do you eat all mins?

you are a peanut butter aficionado, are you not? alix: the question is, and i did go through both, what does this mean on the retail level? you see players that have not been very big now coming into the market. i was talking to ken shay, of "bloomberg intelligence." it's hard to hedge these guys. there's no futures market are all mins. you also don't want to hedge too far out because it is quite volatile. a lot of these guys go directly to the source. to set the helped price level. what happens when you get players with big pockets coming into the market? insatiable course, demand coming from china as well. much moreed it was healthy than the other stuff and it shows that you are rich enough to a ward it. there you go, great point.

stay with me as we look at how commodities prices have settled. crude oil, we are talking about massive losses. it's interesting in contrast to what you see in equities are treasury, stocks are down two thirds are sent, and crude oil intraday does 7.7%. unbelievable slide. i want to put that into context. this is the worst we have seen since the end of march. daily slide, it's the most since november of 2014. here is the kicker, no one knows why. this is where it gets perplexing. i have been on the phone all day trying to figure out what is going on with oil. first there was a technical with acceleration to the downside where you can see that happening. a 100 day moving average. sentimentally oil is eating hit so much harder than any other metal, so it doesn't make sense.

it cannot be a risk off trade, gold is now searching. if you put it in a safe haven commodity, you put it into gold, but that's not playing out. if it is a trade specifically related to china, for example, the stock market their struggling, you just had a segment on that, you see copper and iron or even more, not necessarily oil. we have known about their imports for a while. we were waiting for the ones for june. yes, we are 24 hours away from an agreement, the time crunch, will a deal get done? analysts are optimistic that it is not like they will -- offload it tomorrow. it will take a while to get back. supply and this just inventory numbers that we're looking at? alix: there were 12 rigs added last week, the first time since last year, that could definitely put a paul on the market. in this chart here you can see that they had your counts

trailing the oil price by 20 weeks. we have seen the up taken oil, therefore those rings are not far behind, but city had a great look at this, saying you're dealing with supply and demand in the market. now there are demand problems as well with potential issues. no one knows how much they are actually using. they are importing maybe to fill their stock reserves, not necessarily for demand, that's the question. maintenance coming up in the fourth quarter, we stop driving and drivers go bye-bye. scarlet: certainly a lot of moving parts to this. alix steel is going to nerd out about this in the next hour. trading in chicago, this is the final trading day, goodbye, everyone. remember the final scene of " trading places"? alix: i know. have you ever been reporter there? scarlet: no, but i know that you

have. alix: this was a gracious picture. there were not that many options didbut oil the most business and it seems really sad. but the idea is that buying is electronic, you don't need that many humans. it is a sad and big day. hopefully they can still trade from at home. alix steel will be joining us to take us to the close, but in the meantime let's get your at the top stories of the hour. for as overturned -- courts have overturned the conviction of high-frequency trading consumer code. a new york state supreme court judge handed down the decision today. arrested six years ago, his conviction was on federal charges and was also overturned. eric holder returning to private law, rejoining the firm of covington and burling is a

partner. he worked there from 2001 to 2009, when he became the attorney general he left in april after six years with the federal government and has served as a judge, process, and for washington, d.c.. service industries bouncing back in june after growth hit a 13 month low. service industries are reportedly fueling an expansion slowed by weakness in capital investment and overseas markets. the u.s. women's soccer team, the first three-time winner of the world cup, they had afford to nothing lead in the first 16 minutes with three goals. the final score was five to two. the win in vancouver ventured the loss in japan three years gamemeanwhile the final score was a tv record maker for u.s. history.

those are your top stories. back to one of our other big stories that we are monitoring, greece, shortly after the greek referendum our bloomberg view columnist tweeted -- results of referendum reminiscent of famous network clip -- mad as hell, not going to take this anymore. he joined us to clarify his stance with betty liu and pimm fox. el-erian: they made it very clear that they want more understanding and want to be heard in europe. they are mad as hell. the fact that the banks are going to remain shut even longer is going to make the matter. importantly, it is making the economy ground -- grind to a halt. first it means that the greeks are going to have to do more in terms of reforms. secondly, the europeans will have to do more in terms of that

reduction and immediate financing. it complicates negotiations that were already pretty complex. are very complex and it looks like basically the economy has ground to a halt, as i mentioned. they have extended bank holidays until wednesday. capital control stays in the then. how much longer can the greek economy just kind of stay still like this? mohamed el-erian: not much longer. it has a vicious cycle to it. the greek banks can only open under two conditions. either the ecb increases supports for the ela, so they give more money to the banks, or alternatively you get some new currency produced that recapitalize is the banks internally. the only two conditions under which the banking system can reopen and function semi-normally.

>> i'm wondering if you can describe what a trade or asset class that is not looked or .oved right now everyone is focused on greece, there must be other things available for investors that are being overshadowed by events in greece. mohamed el-erian: if we continue down this road it leads us to wreckage. if that happens, you should ask act a spike in global risk aversion. then you will get a selloff in virtually all markets. good opportunities will be created. those opportunities are really name specific and they really rely on the ability to generate lots of cash. they also rely on a set of good fundamentals. you can see a number of good europe.ck names in you can see some emerging markets, some corporate bonds, they are going to have lots of

selective opportunities, but not just yet. we are still on a pretty bumpy road. i am afraid that there are still some nasty umps ahead. scarlet: that was mohamed el-erian speaking with eddy loop. day," up on "market a -- rory mcilroy has a serious injury. what does this mean for his sponsor, nike? ♪

scarlet: sports news, rory mcilroy ruptured a ligament in his ankle while playing soccer. his status for the british open is now very much in doubt he spoke with betty liu about how the golfer got hurt and what it could mean for the british open. >> he ruptured a ligament in his ankle playing soccer on a holiday weekend. his team has been hazy about the details. and itt know the details

is questionable for the british open neck week for a number of reasons. he is the defending champion, he is from northern ireland and for the young 21-year-old texan going for the grand slam this have a totalrory opening. this is the guy that most bettors were thinking was the other favorite and bow if he does not play it opens the door a bit more for jordan smith. scarlet: that would be amazing for such a young man. for rory, is there any danger with the sponsorship and nike? >> i would think not. a lot of team sports athletes will not be playing in the off-season for this reason. if he never played golf again maybe there was something they could try to claw back. but if he misses one major

tournament i don't think you will see any real financial drawback for him from that. the world cup kind of snuck up on us. first of all, i did not know anyone was watching it until now, the final moments. it set tv records and was well covered over the weekend. what happened here? >> a great two years for soccer in the united states. if you remember last year the ,ay -- the ratings were crazy there were watch parties all over. and then the women, who have not won since 1999 -- which is kind of surprising -- they have been one of the best teams in the world but they have not been able to claim the top prize since then and they made a great run, beating germany -- the best team in the world, rankings wise, obliterating japan. thanatings were bigger 1999, better than any men's u.s. soccer match. scarlet: does this change the >> we view soccer at all?

kind of. certainly people are more interested than they were before the tournament, but there is no major professional league that will be spurned on by this. what people are looking forward to in sponsorship dollars is the olympics in a few years. when it is like tennis, on tv all the time. there will be two events, olympics and tennis. people like carli lloyd, most outstanding player, she will get some endorsement money centered around the olympic in brazil. was our bloomberg sports reporter speaking with betty liu earlier today. still ahead, we will hear from bill gross, who says there is a 70% to 80% chance that greece may be the euro. -- leave the euro. ♪

scarlet: it is noon in san francisco. the "bloomberg market day." scarlet: chances for a greek

exit are being put at 10% to 15%, but they want to continue talks with creditors. for $30mana, purpose million, it could be the holdover for a mega health care deal. there is one thing that one small european country is sure of, coca-cola. ♪ scarlet: good afternoon, everyone. alix: we want to get right to the markets right now. i was a backing a massive selloff already. we are off by not even 1%. one level i do want to point out to everyone is the 2055 on the