promote and reward farsighted investments. the current definition of a justterm holding period, one year, is woefully inadequate. that may count as long-term for my baby granddaughter, but not for the american economy. it is no way to run a tax system . as president, i would move to a six-year sliding scale that provides real incentives for long-term investments. the topayers in bracket, families earning more than $465,000 a year, any gains from selling stocks in the first two years would be taxed just then, the rate would decrease each year until it returns to the current rate. from the moment investors buy into a company, they will be more focused on a future growth strategy than its immediate profits, and so will some

executives who are paid in part --dstock or stock options with stock or stock options per die will be looking at ways to address very short-term trading, whether it's conducted over days, hours or even milliseconds. we should offer the chance to eliminate capital gains taxes or certain long-term investments in small businesses, including innovative startups and hard-hit communities from inner cities to the coal country, to indian country. this should go hand-in-hand with a revitalized and expanded new market tax credit, which also encourages investment in poor or remote communities and helps promote -- prevents downward spirals after economic disruption like plant closings or layoffs. i want to see more investors helping unlock the potential of the family business that is struggling to get back on its

feet, or the start up on the verge of making it big or the community that lost a factory where generations of families worked, but is now eager to building the future. that is long-term growth at its best. i understand that these changes to the tax code alone will not shift investors focus from short-term to long-term overnight. i believe this reform is an important first step toward removing some of the incentives that push us toward quarterly capitalism. this would be part of a broader reform of both individual and corporate taxes that i will be discussing later in the campaign. week, i called for closing the carried interest loophole in the commending the buffet wrote, which would make sure millionaires don't pay lower rates than their secretaries. in the months ahead, i will address other inequities and loopholes that distort business

decisions and rig our tax code for those at the top. the second area where action is needed is to address the influence of increasingly assertive shareholders determined to extract maximum profit in the minimum amount of time, even at the expense of future growth. shareholdersivist can have a positive influence on companies. it is a good thing when investors put pressure on management to stay nimble and accountable or press for social and environmental progress. but that is very different from these hit and run activists whose goal is to force an the matter howt much it discourages and distracts management from pursuing strategies that would add the most long-term value for the company. even iconic businesses like apple or procter & gamble have

felt this pressure. we need a new generation of committed long-term investors to provide a counterweight to the hit and run activists. some institutional investors already are beginning to push back. andeed more pension funds proxy advisory firms to do so as well. controlional investors 70% of the shares in the largest 1000 u.s. companies. they have unmatched influence and therefore an unmatched obligation to guide companies toward strategies and metrics focused on long-term value. there are things government should do as well. as president, i would order a full review of regulations on shareholder activism, some of which have not been re-examined in decades, let alone modernized to reflect changing realities in

our economy. we also have to take a hard look at stock buybacks. investors and regulators alike need more information about these transactions here to capital markets work best when information is probably an widely available to all -- promptly and widely available to all. requirevanced economies companies to disclose stock buybacks within one day. here in the u.s., you can go an entire quarter without disclosing. let's change that. buybacks lead directly to the third area of focus, reforming executive compensation. we cannot address the challenge of quarterly capitalism without making sure that incentives for are and other executives more focused on the long-term growth and strength of the company and less on the short-term fluctuation in its share price.

thatall for rewarding cios should ceos whenever companies prosper and their employees also share in the reward. there is something wrong when senior executives get rich while companies stutter and employees struggle. there is something wrong when corporate boards allow exorbitant pay packages that are not based on credible assessments of executive performance or a company's long-term interest. ceos made 50 top times what a typical worker did. today, they make 300 times more. sense.esn't make previous generations of executives were just as talented and hard-working and they managed to get by with much more reasonable compensation. so have ceos and other countries. it would be good for our economy and our country if we could get back to compensating all

employees when productivity and profits increase, not just those at the top. in the 1990's, there was an effort to tie executive compensation to company performance, including through the use of stock options. many stock heavy pay packages have created a perverse incentive for executives to seek the big payouts that could come from a temporary rise in share prices. we ended up encouraging some of the same short-term thinking we meant to discourage. while the dodd frank financial reform legislation passed in 2010 called for new regulations on indicative competition, many roles have yet to be put in place to. that includes a requirement to publish the ratio between ceo pay and the paychecks of everyday employees. there is no excuse for taking five years to get this done.

workers have a right to know whether executive pay at their company has gotten out of .alance and so does the public we need to take several steps here. fromd the dodd frank act republican attacks and finally get the promise rules on the books. reform the performance-based tax deductions for top executives. expand disclosure requirements under the stay on payroll to include an explanation of how executive compensation will promote the long-term health of the company. a crucial fourth area for reform is how we empower workers and make sure there -- they are seen as the engine of growth that they are. well paid and well-trained employees can work more efficiently, stay on the job longer and provide better customer service. those rewards can be harder to

measure than the immediate cost of payroll and training. under the pressure of quarterly capitalism, they are often squandered. employer funded job training has fallen by more than one third in the past two decades, even as the premium unskilled workers has increased in a competitive global economy. even where training programs do exist, too few are focused on providing broadly applicable sectorial skills. the decline of unions and worker bargaining power has led to a decline in worker voices, long-term decision-making at many companies. it's no surprise that we have seen corporate investment in human capital decline as well. we need to start trying to reverse all of these trends. as president, i will fight to defend workers rights and encourage more companies to invest in their employees. in this campaign, i have already proposed a $1500 apprenticeship

tax credit for every new worker that businesses train and higher as well as a plan to encourage more companies to offer generous profit sharing pair -- programs. i have called for raising them in weight and of limiting president obama's new rules on overtime. wage andg the minimum implementing president obama's new rules for overtime. the national minimum wage needs to be raised. of living in manhattan is different than little rock and many other places. new york or los angeles or seattle are right to go higher. if we're going to ask the private sector to invest in the long-term, let's face up to the fact that washington may well be the worst offender of all when it comes to short-term thinking. this is the fifth area of reform that is desperately needed.

it is time to end the era of budget brings me chip in congress and stop careening from one self-inflicted crisis to another. [applause] that creates more uncertainty for business, for investors and for our country. i've been asking a lot of business leaders with whom i have taught -- talked, what are the things you would love to see happen? they say we need more predict ability, we have no idea what's going to come out of washington. we can deal with whatever does, but when we don't know, when it doesn't come, when there are stalemates, that interferes with our business. particularly with our global business, an obvious thing to say, but i hope people in washington will pay attention. let's stop pouring subsidies

into industries that are already thriving, like the giveaways in the tax code to oil companies. [applause] future tosting in the create millions more new jobs in the new economy. we should be making smart investments in infrastructure, innovation, education, clean energy that will help businesses and entrepreneurs grow and create the next generation of high paying jobs. we know the investments that would be made in these areas have very high returns. there is no excuse not to make them and make them now. we should improve and make permanent the research and experimentation tax credit. every few years, congress has another squabble over whether to reduce this credit. they have done it 16 times in the past 35 years. isn't it time we stop kicking

the can down the road and actually get down to doing the people's business? as important as the specifics reforms are, the fight against quarterly capitalism cannot be one in washington alone. the private sector has to rise to this challenge. we are already seeing a movement taking shape. investors come executives and employees are all starting to step up. union leaders are investing their own pension funds and putting people to work to build tomorrow's clean energy economy and they earn good returns doing that. we need to build on this momentum. it's time to return to what old-fashioned idea that responsibility to their shareholders also encompasses a responsibility to employees, customers, communities and ultimately, our country and our planet. [applause]

the strength and legitimacy of american capitalism have always depended on its ability to create opportunities for hard-working families to get ahead generation after generation. we cannot lose sight of that. i'm pleased that since 2010, 31 states have enacted legislation authorizing so-called benefit corporations that allow companies to pursue profit and social purpose. mark warner has suggested that we recognize a new corporate form and reward companies that invest in their workers. that proposal has real merit and we should explore it further. what is good for middle-class families also happens to be good economics. we know that strong, sustainable growth can only happen when communities are thriving and workers are well-paid. our economy is a 70% consumption

economy. it's the old henry ford story when he decided he would be paying his workers the princely sum of five dollars a day and a lot of his peers rose up in opposition. setting a bad example. his response was, i'm building these cars come i need people to buy them. our economy is not yet running the way it showed in large measure because we are not putting enough money in the of enough americans so they can be fueling this consumption economy, which not only holds up the american economy, but holds up the global economy. ,t's in everyone's interests including corporate americas, to contribute to a vibrant middle comes.and rising in i won't try to impose a one-size-fits-all solution. i will use the power of the office to bring all relevant

parties together to help move our corporate culture towards solid, long-term growth and investment. just imagine how different our history would have been if ism had dominated other eras the way dusty baker what if an activist hedge fund had persuaded at&t to maximize bell befored close the transistor or the laser was invented? its palox had decided alto research park was not doing enough to boost share prices in the short term? a young steve jobs would never have visited and the personal computer revolution might not have happened. what if congressional budget before itutdown darpa developed the early internet?

today, we face a choice between the future and the past. the republicans running for president seemed totally unconcerned about the problem of quarterly capitalism. their policies would make it worse. most would eliminate capital gains for wealthy investors with no incentives for long-term holdings. they would wipe out the new rules on wall street imposed after the crisis. they further strip worker rights and weakened bargaining power. their approach to government mirrors the worst tendencies of hit and run shareholders. demanding quick payouts in the wealthytax breaks the -- for the wealthy inexpensive investing in the future. they ignore long-term challenges like climate change, poverty, inequality, failing infrastructure.

look at the current mess in congress with the highway bill. we cannot afford to recharge the same out of touch come out of date policies that had wrecked our economy before. we have to work together to drive strong growth, their growth and long-term growth. we willthe only way renew the basic bargain of america. you know it. if you work hard, you should be able to get ahead and stay ahead. when you do, america gets ahead, too. it's the only way we are going to build an american economy for tomorrow, not yesterday. i invite you to join me in this discussion. i'm looking for new, creative, innovative, disruptive ideas that will save capitalism for the 21st century because it is the greatest engine of economic

opportunity and potential that has ever been invented. it's one of the great a accomplishments of the american political and economic history. it created the opportunities that so many generations of americans took advantage of and ,hat led to the middle class the extraordinary economic accomplishment of our country. as we've had to do in previous eras, it needs to be reinvented. it needs to be put back into balance. that we to recognize really are all in this together. the better we all do, the more there will be for everybody. to share in, to invest in, to profit from. so, i ask you, particularly here at stern, the students and

faculty and others who are studying business, help us think through the best ways to change the culture, to move it back to where it used to be, which was much more focused on long-term investing, with the results of the extraordinary prosperity that we enjoyed for decades. we have new challenges from technology and globalization and other big problems on the horizon like climate change, for example. but that is what we are best at doing in this country. we are problem solvers, not problem deniers. we roll up our sleeves and get to work and keep moving forward. it is always all about tomorrow. love that song, don't stop thinking about tomorrow. so, help me think about it and let's make it happen. thank you all very much. [applause] the democratic

presidential front-runner, hillary clinton, speaking at new york university's stern school of business. outlining her economic priorities. scarlet: great detail proposals earlyhe former first lady on in the campaign with her opponents had not come out with anything quite so complex. she said we are all like audible to the american people to get the facts right. the reform of capital gains taxes. the influence of some activist shareholders must be addressed. she says reforming executive compensation is also one of the priorities. 30 years ago coming second is made about 300 times with their workers do -- scarlet: she said everyone did find just then and they will do fine now. in all have more analysis

bit. we do have some breaking news right now. square, the mobile payments company has filed confidentially for an ipo. comments,o have some some other information on bloomberg.com. square processed 30 billion payments back in 2014. into other expanding areas. payroll processing, business spending -- business stay with bloomberg television. we will have more details on this breaking news. scarlet: let's get back to hillary clinton's speech and her proposals. to help us dissect all that, we have jennifer epstein joining us and david on site at the event. you've been there all day.

first question, why did hillary clinton choose a school in july when there are not a lot of david: there is not as much of a crowd here as there may be in the academic year. there are some students on campus. pillar clinton calling for nothing less than the reinvention of capitalism -- hillary clinton. thinking through new ways of engineering capitalism so it fits the 21st century. that is why she has given to executive -- economic speeches. there will be another speech on the economy coming forward. she will detail other facets of her campaign platform as well. she wants to appeal to young people. young people who despite having facing --and mark: you have been covering the

clinton campaign. a lot of her supporters, lot in the hedge fund community, what do they think about her plans? >> there is some support among long-term clinton donors. they co-authored a paper last month with a long time clinton policy advisor that talks about this sliding scale for capital gains taxes and exactly the idea that was in that paper last month is the idea that she proposed today. there is a subsection -- another fundraiser for hillary clinton has already hosted her at his home, those are the people she is talking to. she is trying to get a sense of what they think. very powerful and wall street and have a certain

political perspective that aligns with the democratic party and sees the way government can be used for good and that is who she is try to appeal to. you,et: i need to ask hillary clinton has made clear that she wants to encourage a more mindful environment, something that levels the playing field. combat short-termism. these proposals, do they promote growth? david: i think she would say so. there was a lot in this speech designed to appeal to executives. the last point you made was about ending congressional gridlock. people are very frustrated with how often there has been budget disputes. job worker training as well -- she invoked very innovative

executives from the past. here talking about executives that are praiseworthy, talking about how more attention needs to be paid for venture capital, people willing to take bigger risks with a long-term perspective. thank you so much for your live reporting on the scene. hillary clinton just outlined her economic proposals. mark: thank you so much. enjoy your weekend. scarlet: you were off. we have more details on the square ipo, next. ♪

scarlet: welcome back to the bloomberg market day. we have breaking news that we told you about at the top of the hour. square is set to file

confidentially for an initial public offering. joining us now is bloomberg news's ipo reporter. this is according to people familiar with the matter -- what does that mean? this company has filed confidentially, which means it has about three months or so to go through the process with the sec to amend its filings and then, if and when he chooses to do an ipo, it can do so. -- twitter did the same thing. they had 21 days to markup the sale. scarlet: is this a company of filing under the business start up track? >> exactly. they are able to test the waters, which indicates they meetings with investors to see what kind of evaluation they might achieve. our sources were not sure on their exact timing, but a filing

in july would indicate that they could theoretically get out by the end of the year. which would be a smart decision for a company like square. it may be competing with the ubers and air b nb's. scarlet: hog the spotlight. in may, square announced a round of financing. doesn't need the money right now? >> it's more about the market opportunity to go public. for a company like square, it's competing with funds -- private funds with those unicorns we mentioned. it is more a strategy for this company. you have the constant access to capital, which has been prevalent in the private market, but for a company like square, it make more sense to get the deal done now. scarlet: this big numbers with square here. the processed through the millions of dollars in payments

dollars inon payments. >> they have filed what istially -- interesting about this strategy is what it means for jack dorsey. he has returned as the interim ceo for twitter. square ande ceo for our sources say he remains the ceo for square, it would be difficult to the company if he were to suddenly leave square to run twitter. it looks like he is committed to square. especially as they go through this ipo process. scarlet: thank you so much. the latest on square, set to file confidentially for an initial public offering. we have some more breaking news. these headlines around at&t. >> coming across the bloomberg

terminal right now, the sec has approved the deal between at&t and directv. we did get some inkling this would happen fairly soon from the fcc chair earlier this week. directv required to expand broadband to 12.5 million locations. conditions include discounted broadband rates too low and can users -- low income users. they have approved the at&t and directv deal. scarlet: directv shares getting a bit of a late higher, already up on the day, but currently up 2.2%. let's get to some other top stories at this hour. we have a lot of headlines here. the man who shot and killed two people inside a louisiana movie theater before killing himself

has been identified as john russell houser. he was a 59-year-old drifter from alabama. he tried to leave the theater but then turned back and shot himself after encountering officers. bobby jindal rushed to the scene. >> when these kinds of acts of violence happen in a movie theater, and there is no real reason why this evil -- a lot of us are horrified and shocked. the great thing about america, when any of us suffers, we all suffer. this is a time for us to come together. scarlet: his family said he was mentally ill and he had called police in 2008 to have guns removed from the family home. fiat chrysler recalling 1.4 million vehicles to update the software to prevent hacking. no defect has been discovered in this recall is precautionary. the recall affects 2014 at 2015

feet grand cherokees -- jeep grand cherokees and dodge durango suvs. a surprise drop in new home sales. falling 6.8% last month, hitting a seven-month low. the national association of retailers said existing home sales rose in june to the highest level in more than year. mixed data on housing. those jurassic world dinosaurs are coming back. they will release a sequel within three years. it's the highest -- third-highest grossing film ever. another top story we are following right now. john kerry making the rounds this week, defending the obama administration's nuclear agreement with iran. on the today show, he called the deal the "only viable alternative" and addressed concerns. >> there is no trust. this is not based on trust.

that's what's important to understand. everything in this agreement is verifiable. it is a process by which we will discussedck lawmakers the challenges of halting iran's nuke request. james smith was one of the key speakers at the event. he joins us now from capitol hill. john stresses that trust is not the issue here, it is transparency. it becomes incumbent upon the united states to insure that process is transparent. we won't know about any of this for months or maybe even years. is that right? with secretary kerry. there are two questions to ask about the nuclear deal. is it enforceable? it appears that is. secondly, is the united states willing to enforce it?

got theity is, you've pieces in place to be able to tell if there is a deviation from the agreement. the real issue is a commitment by the ministration and congress that the united states is going to ensure that iran abides by anydeal, which means that deviation gets called out, reported publicly. scarlet: congress has a big role to play. we are going to be entering an election season soon enough. all caps those problems for the of limitation and enforcement of this deal -- won't that pose problems? >> i don't think so. if you look back at the 80's, we did a lot of negotiation with the soviet union on intermediate range ballistic missiles and cruise missiles in europe. we took the emotion of the nuclear debate away.

are doing a similar process with iran today. it makes sense to negotiate, but as president reagan said, trust is verified. it's about oversight and verification. it's a similar process. 100 former investors have signed a letter to the president supporting it. they say congress needs to be involved. in particular, congress needs to give careful attention to evaluating whether alternatives would be more or less likely to narrow the options without the use of force. what are the credible alternatives to resolving this without force? >> the nuclear issue is only one of the number of issues with iran. one is the human rights abuses of its own citizens. some reports say upwards of

120,000 iranians have been killed by this government since 1979. the other important issue is iran's destabilization in the region. when i was in saudi arabia, it was very apparent, the irani and focus on destabilizing the region. we have to focus on those two silos because the nuclear is set off to the side. we keep a spotlight on the nuclear issue to make sure it complies with that, but now we bring full attention to the human rights issues and iran's destabilization strategy. we can do that now that the iran nuclear issue is not the centerpiece. scarlet: i'm glad you bring up saudi arabia. eurasia group had talked with earlier this week saying the deal was a prelude to broader geopolitical ships in the middle east.

the u.s. saudi relationship is much more challenge today than it has been. i would be willing to make a bet that within 10 years time, he was relationship with iran will be closer to the u.s. relationship with saudi arabia. scarlet: how does the rn dealership the region's balance of power? >> it doesn't shift it at all in the foreseeable future. there is no indication that iran is looking for -- if we can focus on people to people the strongwith iranian deals for and the united states, there is no reason there can't be a people to people connection and we can build on that. iaspora.an d it is not saudi arabia or iran. the west should push for a positive relationship with both.

any positive relationship with the government and have brought -- in tehran in its current form will be difficult. scarlet: thank you, james smith. coming up on the bloomberg market day, a terrible, horrible, no good week for commodities. we look behind the numbers. ♪

scarlet: welcome back to the bloomberg market day. let's get a check on how commodity prices settled in europe trading. steel and is alix eric -- it has been a terrible

week for commodities. if you look at the bloomberg commodity in next down, down, down to a 13 year low. alix: gold makes up 11% of the index. wti and breadth makes up 19%. -- brent makes up 19%. scarlet: what are you seeing in terms of fund growth? how many commodity related etf's are there? >> 150 at this point. there's about 10 that seem to get the most -- using the same thing we've been seeing all your ear, a slow bleed out of gold. in oil and that is the interesting story. for a year now, we've seen 4 billion go into oil etf's.

if you did it between march and may, you want. if you did not, you lost it depends on when you timed it. your system will trade idea to call the bottom. -- an irresistible trade to call the bottom. alix: you saw gains all across the board. play,is a shale oil rich which will lead to even more production. therefore, more oversupply and lower oil prices. no one understands how shale works in this environment. when people are treating oil or commodity related etf scum are they doing it as the other trade with the dollar or looking at commodities specifically? >> we don't know. we see the prince, we don't know what they're doing with it.

-- you can short and etf. they now have triple leveraged inverse. velocity shares has triple ,everaged inverse crude oil etf gives you three times the opposite of crude oil futures every day. month.ing is up 74% this it has been on fire. has beenor twin getting killed. most of the money has been going into log site -- alongside. -- longside. see: using that -- if you cuts continue and production lower overall. scarlet: what about the gold etf's? what kind of disparity in performance do you see between the difficulty gets?

-- between the gold etf's? >> gld is the big one. there was a new one that came -- we have seen there is a gold etf that is above water this year. what it does through this derivative combination is gives you gold in euros. it is flat on the year. gold is relative to the currency which you buy in. ,lix: that makes a lot of sense you see greeks by more gold more gold coins. such a bigpper was loser this week. today, it has stabilized. what are you hearing in terms of forecast?

it is so tied to the china story. alix: you are either bears or bullish, nobody in between. goldman sachs taking copper out of the woodshed yesterday. citigroup is bullish on copper and thinks we will see 6000 tons when in of the are. both of them delivered to china. -- levered to china. says you have consumer demand like w washing machines and stuff that will hold up copper. that is a fascinating microcosm. extremely intelligent people, huge commodity houses with exact opposite view on the same topic. scarlet: the debate continues. alix steel will be rejoining us in the next hour to take you through the close. thank you so much. alix: we are talking commodities for half an hour. scarlet: we have to look at the

top headlines right now. could create the nation's largest health insurer, anthem buying cigna. anthem's ceo tells bloomberg the merger will bring huge savings. >> we remain confident in achieving synergy approach with in two years of the transaction. if the transaction or clozapine of 2016, are targeted adjusted earnings per share for 2018 rises by over 20%. agreement ends a europe contentious negotiations and extends a wave of consolidation in the health insurance industry. a boost for president obama's efforts to ease travel restrictions to cuba. it is in the panel voted to lift a ban on travel to cuba. the appropriations committee favors a ban on financing sales

of u.s. farm exports to cuba. he was in cuba reestablished diplomatic relations earlier this week. investigatingtors the liquor maker -- they want to know if they've had their sales results by shipping excess -- paddedto streeters their sales results. says the telescope found a planet a lot like ours that orbits a sun like star and has water and annette here. it is 1400 light-years away. there are good days and the days that jeff bezos is having. his personal fortune grew $6 billion today. shares up sharply after amazon posted a surprise quarterly profit. about $50ow worth billion. those are your top stories. ising up, why citigroup

teaching wealthy young heirs how to buy fine art. ♪

scarlet: time now for this week's peak into the good life. citigroup is trying new creative way to lower wealthy heirs, offering special new services to their most elite clientele like private courses on how to buy fine art. collins had the chance to attend one of these sessions and spoke about her experience early on with betty liu. >> they try to simulate an option as best they could. the twentysomethings were split up into teams and they each got a mock catalog of about a dozen art pieces ranging from paintings to polaroid prints to cartier earrings. $100,000 and they got to bid on it. some teams held back on their money and bought multiple pieces

, one team when all in on a print of kate moss in space and spend $95,000 on that and afterwards, the experts from christie's told the teams about how those items actually sold so they could see if they spend their money wisely. >> that chaos piece they were all feverishly bidding for had not been sold for real. is that right? -- kate moss piece. >> it was part of a number of pieces by the artist, many of which did sell. what the students got to see was that sometimes, there is an agreement between the auction house and the seller and if it doesn't hit that price, the piece doesn't sell. it was a lesson they learned. betty: why does citigroup want to do this? i get they want to access these heirs and teach them some lessons. what is the long-term out of this?

of my something many angst around the world are dealing with. there's about to be the most record amount of wealth transferred the world has ever seen over the coming decade. generally, when parents transfer their wealth to kids, the kids moved to another wealth advisor. at what these private banks are trained to do is engage with the 20 some things now so they stay clients in the future. betty: how much are we talking about that they possess right now? peggy: we are about to see $36 trillion transfer in u.s. households alone over the next several decades. an additional amount is said to go to philanthropy. there has been billionaires around the world over age 60 who have at least one child. betty: they will have descendents who will spend the money on this -- what were you surprised most by?

not just them getting something wrong. peggy: how engaged they were. weref the millennials well-dressed and really engaged and got very excited during the auction. sometimes, two people at the were almost bidding against themselves and the christie's experts have to say don't hit against yourself. they were really interested in the how to value art, who owned it in the past. scarlet: that was peggy collins speaking with betty liu. we have much more ahead, including more on the sullivan commodities this week. in commodities this week. ♪

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(don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. francisco, 3:00 p.m. in new york, and 3:00 a.m. in hong kong. and we will have richard

clarendon and hear more about what he has to say, just ahead. hallet: and jake jill and is in an upcoming movie and hear what critics have to say. a new drugseating that could change the lives of millions. ♪ good afternoon, everyone. i am scarlet fu here along with alix steel. tgif! alix: yes, and we are seeing a pretty steep selloff, i might say, the s&p is below that 50 and the 100 day moving average, it is about 16