>> we moments away from the closing bell. >> i am joe. >> lease stocks are closing down and the s&p 500 is slipping. >> the question is, what did you miss? underrritory groans debts. with all about real estate

the interest rates set to rise and the charts may tell. out, high stakes for the land of star wars and espn. alex: you have seen star wars. joe: a long time ago. alex: the s&p is closing flat and you had eight of the 10 sectors lower. materials are the worst off and it was the last performer in the s&p. indicated that it could be september when we get a rate hike and the conditions are there. attention topaying that key headline. a look inside of the terminal. i want to point out a stock that was moving the market. that is apple. apple was flirting with this and

wound up closing below the level. theas staggering to me amount of volume that we saw. it compares to a 30 day average of 41 and we are talking about double. to the donald it trump of market indicators. effectuced a second wave of everybody training. -- trading. alex: i'm taking another deep dive into the bloomberg terminal. you are looking at the 2014 oil price and, from where we were last year, it is less. what is happening now?

we are seeing the same kinds of prices and you are seeing the lower price like we saw last maintenancere was a timeframe. the question is, what we see this? -- will we see this? if it mirrors technical charts, that is a concern. take a deep dive into my bloomberg terminal. i want to talk about the 10 year treasury and the short-term yield that is sensitive. .e got that here is the moment on the chart where they suggested it may be september. it is quick for the day and people took that seriously. he sees this in september, we will see the jump in interest rates.

hi there. let's take a look at the revenue. million and it is bigger than estimated increase. the loss should be wider than estimated. it may not compare and be like for like with an estimated loss. we will keep looking at that looking atmpany local currencies dampening demand. i am looking at the deep statement of chad dickerson talking about the number of active selling. the company has about half $1 in gross- $1 billion merchandise sales. that is what we have so far and

i will look through the statement to see what else we can get you from it. it looks like the shares are falling on the estimates. we will try to give you the update. joe: thank you. alex: i want to bring in david. we are talking about how the puerto rican debt crisis is making its way into the history books. withare struggling billions of dollars of debt. >> it is a pleasure to celebrate a new book on the municipal bond market. launched and they never dreamed that the next day, puerto rico would default.

>> we are talking about payments and the puerto rican economy losing in the population. is there anything that can be done to turn it around? >> repeal the jones act. right away. the jones act is a shipping union-led andt is it hurts puerto rico. joe: can you explain the jones act? >> carriage on a ship has to be american-made. the rest of the world can do it at a lower price. yterritorie is u.s. and there are a number of things they could do to improve themselves. that is one. alex: how much cheaper could it

be if they did not have the shipping tax? millions.s, not enough to make a difference. look at puerto rico and you say the internal governance is missing the reforms. the legislature does not make them. economists put this on the front of the cover and said it was the grease of the caribbean -- greece of the caribbean. you have a construction that does not work and you have them running out of money. things need to change and that is tough. we now have a default. that thehe last time american territory, virgin guamnds, american samoa, kua

defaulted? it is a moral obligation. now, you are going to trigger a lot of questions. there is a level of credit from says, "willnd it pay have precedence over funds." it issues a bond and there is a different language with a lot of technical jabber. we have discovery, investigations, positions. world andook at the what keeps you up at night?

>> among other things, low interest rates in europe with a global distortion of finances taking place. and, the response from denmark, sweden, switzerland, and a huge mass of the financial system. they are operating on a new version of policy. you put money in the bank. we are not used to that. thank you very much for joining us. a sector wide's out the gdp of mexico. the answer and the chart after the break.

alex: i am alex. joe: i am joe. alex: mexican gdp and value. showsout this chart led -- that shows value. unbelievable. there is a loan re-termination period. the we will have to hype loan redetermination period. alex: the recovery is in swing and the interest rate hike is coming. is the industry prepared?

joe: here to answer the question is glenn. >> hi. let's get started. alex: we want to talk about supplies and how long a house stays on the market. what does that tell you and where is it? we see -- >> we see a price acceleration and people have not been able to sell. it is self-perpetuating and you worry about building a new place. when people say, you cannot move, it freezes up the market. they can sell it and they cannot buy the next one. credit issue. >> we have three or four people who are eyeing a place -- what

is wrong with me. they are selling a place and they are going to rent the next place. they do not know how to find that place. what does this tell you? alex: the market is near a peak that is not sustainable. you look at those who are touring the homes and they are wondering if the prices have gone up too much. people who are jumping? that and iteen starts to ease. we were talking to people through the year and, if the house was not perfect, they would die it. people feel like time is on their side. we see a lot of people walking

through homes and not as many offers. this gets me excited. i look at the homes that sold above the asking price and it was 23%. placelike, let me sell my in brooklyn for more than i paid for it. where is the danger zone here. -- danger zone here? >> you have the next months of gains and we have seen bidding wars that have reached a peak. i do not think we will see that. you have more higher's saying they will be disciplined about this and the bidding has led to frustration with americans trying to get to a place and they said that enough is enough. alex: what happens when they cannot compete?

out.arnings are > the earnings are up 13% to $1.35. i am getting the breakdown of the business units. -- billionllars $5.8 billion.8 alien dollars. interactive revenue, that is worse than estimated. million.rly $260 that was a mess. , we are seeing mixed results. -- by unit, we are seeing mixed

results. i'm looking into the overall revenue that we have. $13.1 billion dollars. earnings missing. get commentarywe about espn and the over-the-top offering of espn that is not connected to the cable service. i'm looking at commentary on operatinghey say that was driven by growth and it is not likely they would talk about the over-the-top offering in the statement. we are looking at outlook. the star wars franchise comes out in december and i want to etsy shares continuing

their march lower. ot is getting close to the ip prices. it is a wider loss than some had anticipated. >> we have exciting after-hours action. indexve an interesting you?hat does that tell >> we have 10,000 people doing can see month and you numbers on your side and people walking through houses and combining that into an index that forecasts what we are going to see with prices. it is not that the bottom is going to fall out.

it is a highly leveraged market and it is indicative of consumers having enough and not chasing the prices as high as they have been over the last year. the more conservative view of the housing market. bullish.y, people are >> i worry about screwing up a customer's office. .ou celebrate the bidding wars >> the job keeps you up at night. >> thanks for having me. a number you have not considered. one of the lowest levels. who is getting slammed? we will tell you when we get back.

alex: i am alex. joe: img know. -- i am joe. alex: powdered milk prices have reached lows. zealand is an exporter it isdered milk and pretty ugly if you look at the new zealand dollar. it is brutal. alex: you are excited about it. why is it important? think it is important. i think it is fun that a

currency is connected to know. that is a great story. go to newjust want to zealand. joe: that is true. theme parkong result. joe: paul joins us now. better than what they were looking for and the revenue was a little bit light with the stocks trading off in the afternoon hours. the key issue is to call that from a cash flow and it is notable for disney and the cable networks. people really want to see the outlook and that is the primary driver of cash flow in this company. >> wouldn't this implied that the revenue was that are? >> you are starting to see it

bag.t is sort of a mixed andsee in the last quarters they are certainly exposed to advertising and they benefit from the growth with espn the most valuable cable network out there and they raise the cash flow and the cable network. they are really exposed to the growing part of the business. box office has been shooting the lights out. how is that looking? 1.3 billion in the domestic box office and that puts them the hind with star wars still to come and the

studio business and the films and franchises that seem to be coming out with superhero movie after superhero movie. star wars could be the beginning of something that really vague for the studio. alex: you have not seen star wars in the last 10 years. joe: basically never. >> they will suck you back in. there will be merchandising. episodeill start with one. alex: i can't even talk. this is ridiculous. earnings are off from numbers. what will be there tomorrow? joe: the customers are cutting cords and the tv bundle is really fraying.

all the cable networks and broadcast networks. millenial'sd the are getting content over the internet -- millenials are getting content over the internet. that puts all the big content companies at risk on the margins. they are less exposed to this because they have the theme park business that is doing well. >> we will be right back.

miss?hat did you alex: tesla results are out. the only number you need to care about is the sales growth of about 10,000in at cars currently and they have goal of000 cars with a selling 55,000 this year. orders.e a lot of when will they be delivered? it is like apple with a earnings more important than the volume. that is it for what did you

miss. come back tomorrow. alex: have a good night. ♪

from at studios in new york city, this is charlie rose. charlie rose: ben carson is a narrow surgeon. rosurgeon who has authored books. one of them was made into a movie about his life and he announced his candidacy for president of the united states. a fact that