the republican candidates took shots at each other but did any of them present any real substance? betty: as stocks sold off this week, what is the plan be? mark: netflix renews the debate about work and family leave with its one-year maternity leave policy. will other companies be forced to follow suit? betty: good afternoon, i am betty liu. mark: that netflix story really shaking things up. we will talk about that later in the hour. let's begin with a look at the markets. the dow jones industrial average is the story today down nearly

130 points 17,290. it is headed for its longest slide since 2011. declines in energy and biotech companies related as well. this coming on the heels of a solid july employment report. same story for the s&p 500. the broader decline is led by energy and material shares. oil is headed for a six week of losses on speculation the supply glut will continue. nymex crude down 1% 1.25% $$44.11. brent crude also down 1.25%. gold futures are up .3%. betty: brent below 50 all week. a check on bond markets, you can see after the jobs report this morning which kind of undershot

estimates still strong enough though for estimatesfor investors to believe that the fed will raise rates. the two-year is higher but on the longer and we see the yield coming down. in the currency market, it is again a story for the dollar. a four-month high. after that jobs report, the dollar shot up. a pretty big spike, but since it is come down. now trading just a bit lower. still hovering at this four-month high. let's get a look at our top stories. signs of more progress in the u.s. labor market could keep the fed on the road to raising interest rate. employers added 215,000 jobs in july, the unemployment rate holding at 5.3%. >> they are almost mentally committed to moving before

year-end. whether it is 25 or 50 basis point, probably 25 -- i hope -- 50 would scare the market. 25 in september -- not a unanimous opinion but a majority opinion at the moment. betty: july's gain followed an advance from the previous year. bank of america looking to sell $1.2 billion of mostly to liquid home loans. the bank is selling five pools of nonperforming debt, loans that have been modified and some that have not defaulted at all. banks have sold or offered $18 billion of defaulted on loans in 2015. mark: the decline in media stocks is hitting some high-profile ceos. bob iger apple often blamed for killing

the music business might be doing the same thing to watch is. june was the worst month for u.s. watched sales in seven years. retailers say it is partly because of the new apple watch. sales of traditional timepieces were 11% lower compared to the same time last year. the inventor of swatch says the apple watch could bring an ice age to the swiss timepiece industry. apple watches are going on sale today at 100 best buys nationwide. betty: carl icahn is introducing a new activist stake in sheer energy -- cheniere energy. he may ask for seats on the board. shares have lost about 8% so far

this year. that is a look at our top stories. mark: coming up in annex cap our -- betty: escaping work on a summer friday. we are going to tell you the right way to duck out of the office early. mark: netflix raises the bar with its one-your parental leave policy. how much pressure will there be on other companies to follow suit? we will speak to a benefits consulting firm. betty: you had the first debate of the 2016 presidential race, but underneath all of that rhetoric were also some critical issues including nsa surveillance. >> i want to collect more records from terrorist and less records from innocent americans. the fourth amendment was what we fought the revolution over. john adams said it was the spark

that led to our war of independence, and i'm proud to stand for the bill of rights and i will continue to stand for the bill of rights. betty: is opinion did not sit well with chris christie. >> when you're sitting in a subcommittee, blowing hot air about this, you can say things like that. when you are responsible for protecting the lives of the american people, then when you need to do is make sure that you know the way to work. mark: mark halperin was in cleveland yesterday and joins us in studio. can we really pick a winner? >> i don't think last night changed much. a lot of these candidates are well known, some less so. the country has to meet them all. i do not think there is a winner in changing the contours of the race but there is a lot to look over and a lot to think about in terms of which one of those people is qualified to be president. betty: what was the most

critical issue that they talked about? >> in terms of a critical actual issue is when they got into that debate that you heard there, national security versus civil liberties. there are not many differences between the candidates on domestic issues. while rand paul is something of an outlier on these issues, the general question of how to deal with isis, how to deal with iran , if you don't like a nuclear deal -- there are differences there. if you look at the polling now the economy is always important but national security group is really important to the voters. mark: did some of the substance get lost last night because of donald trump, or did i just answered my own question? >> you just answered your own question. going to the next debate, there will be the same dynamic, which is trumpet is such a dominating

figure personality wise, in the polls, the way he conducts himself, people will need to think through, can there be a way to have a real discussion? in a forum like this, 60-second response is, no one is laying out there detailed policy proposals. it is about style and leadership and confidence. betty: you like the rosie o'donnell comment? >> did i like it? betty: a moment that caught your eye. >> there are two ways to think about trump. he has to be who he is, and that is who he was last night. if you speak to political strategists, he could've answered a question in almost every way that would have kept his supporters and broadened his support. he chose not to do that. i know his people will say that trump has to be trump. on the rosie o'donnell answer the crowd loved it. with most candidates, the answer

would kill most candidates. mark: we have some sound on the iran nuclear agreement from trump and also mike huckabee. >> we are making a deal. you would say, we want him. we want our prisoners. we are giving them $150 billion plus. they are going -- if you ran was a stop, you should go out and buy it right now because you will quadruple. what is happening in iran is a disgrace. it will lead to discretion -- destruction in large portions of the world. mark: ok, so he took the administration and the supporters of the deal to task but did he really make any headway? all the republicans are against the iran deal. >> will a candidate be rewarded for specificity as opposed to just criticism of the obama administration?

at this point, i'm not sure. they want to hear just how virulently anti-obama you can be. he is often criticized for being not specific but you don't hear many specifics from the others. betty: staying on iran, senator chuck schumer coming out and revealing that he is opposed to the deal, things we need to go back to the table. how damaging is that to the president only days after he made that speech at american university? >> it is damaging as he is a well-respected guy on these issues. the question is if it will change the outcome in the house or senate. right now, it makes it somewhat more likely there will be an override of a veto, but the president still has the house. he could get the votes. i'm not sure that chuck schumer

could stop the white house am getting what they want, which at this point is both chambers though disapproval but cannot override the veto. mark: if you were the chair of the rnc, what did you learn about your fellow candidates your fellow republicans? >> they are an impressive group and not so impressive that they cannot yet think about how to deal with donald trump. his presence keeps the sun from shining on people like scott walker, who got very little attention. even jeb bush. trump was given the most time and will continue to dominate the debates. reince bush. preibus can be happy that there are a lot of interesting people but did you see many people on stage that will be accepted by the american people? mark: a lot of eyeballs as well.

>> partly because of trump, also being the first debate. any republican marquee event on fox news channel is going to get a lot of eyeballs. that is where people on the conservative side go to watch their politics. betty: i think a lot of dems were watching and having a good time watching the fireworks. hillary clinton was out in california fund-raising, which she needs to be doing. there is a selfie out there with her and kim kardashian. >> you have seen presidential candidates over the years john kerry, even barack obama -- early in the process, they worry about hobnobbing with hollywood celebrities. sometimes the democratic party takes some hits as being too closely tied to the coast. hillary does not have that concern.

i don't know who else you could stand next to that would create more of an injured problem. mark: if you or any of the democratic contenders and you watched the debate, what did you learn about your presumptive challengers? >> they are competing so hard on social issues and economics on the right, they are making their lives easier. very few moments where people had rhetoric that said i want to capture the center of the country. john kasich may be an exception. home turf, as the debate was in his home state, but he did well. he has been undervalued for a long time and people are starting to realize, if jeb burst is not perform as the establishment candidate, with his tens of millions, case it may be the one to line up against clinton. betty: the next one is in? october >> basically one a month until the end of the year. betty: thank you so much.

mark halperin, comanaging editor of bloomberg politics. five years ago, they were darlings of the tech world but now zynga and groupon are feeling the pain. mark: we will get a check on their stocks, next. ♪

betty: welcome back to the bloomberg market day. i am betty liu with mark crumpton. mark: let's go to ramy inocencio who has a look at the markets. starting with the team of the week, media stocks got a beat

down this week. ramy: that's right. media and tech is what i'm talking about. first off media. cablevision earnings came out earlier and the stock is now down 6.6%. the weird thing is revenue matched what they expected and subscriber numbers were better than expected. second-quarter revenue was 1.65 billion dollars, that was a match. second quarter consumer data high-speed net adds were better than expected. but cablevision says it will see higher capital expenditures toward the second half of the year, and that is where the stock is taking a hit. i also want to move to buy a calm. going the other way, higher after an analyst rating. now up by 2.25%. barclays upgraded the stock two notches from underweight to overweight. the price target is down from

$56 to $67. currently, shares are pricing in a decline worse than newspapers which is unrealistic. they could use the support. the stock is down year to date by nearly 40%. moving to groupon, lower on earnings. down by 6.6% right now. it missed its second-quarter revenue but it's active customer base through. it is lowering its ebitda for the year about $25 million less than earlier stated. zynga is going the other way. up by about 2.3%. it beat it second-quarter sales estimate after the bell thursday, revenue coming in 30% higher to about $200 million. also pushing up the stock is benchmark. they raised the stock to a buy from a hold.

they are not the only ones. the green is the number of buys. a record number for the stock up 24%. it looks like people are getting a little more bullish on this stock. mark: thank you. betty: let's get a look at our top stories crossing the terminal. more followed from the killing of cecil the lion. african countries that allow hunting are criticizing a decision by the airlines to ban the transport of hunting trophies. namibia says the dan will hurt its economy. conservation efforts -- its economy and conservation efforts. mark: virginia is revoking personalized license plate with the confederate battle flag. the department of motor vehicles will begin replacing about 1600 existing plates.

the dmv says it will work with the sons of confederate veterans to design new plates. betty: nfl commissioner roger goodell is dealing with another issue as another player has been arrested. this time it is san francisco defensive and eldon smith. -- aldon smith. he was charged with driving under the influence, hit and run, and vandalism. mark: coming up on the bloomberg market day. it is friday, it is august, and we know you are daydreaming about leaving work early. betty: we know you are. we have some helpful tips on how to escape the office without anyone knowing. mark: we are trying to get people in trouble. ♪

mark: one day they are going to find that what goes on during commercial. welcome back to the bloomberg market day. i am mark crumpton with the soon to be leaving betty liu. betty: if sitting in a freezing office on a summer day is not your thing, you can leave early. we have a strategy for you. the lists of do's and don'ts that will help you get out of the office without getting into trouble with your boss. take a look at some of these strategies. what was your favorite? mark: i was thinking about bringing the laptop because then you have the remote thing. i am not really in the office but i am actually working. that is a do. betty: you know what i liked?

one of them was to get a little crafty and take advantage of a nest thermostat, so you can pretend you are there and then turn them off at 6:00 p.m. mark: another one, answer calls but keep them quick. and no face time. it is kind of hard to get away from that. i don't know, if you get a last-minute phone call and it is a summer friday, as it is today, and it is your boss, how short can you keep call? betty: you have to make something up. my kid is screaming. mark: when we talked about doing this, one of the things i thought was, why not just say, i finished my work today, do you mind if i cut out early?

i have always felt that is the best way, why not just ask? betty: most people want to seek forgiveness. mark:i have always felt that is the best way, why not just i just blew the whole article. betty: some don'ts. the one that i agree with stop checking your e-mail every five seconds when you are out of the office. mark: people cannot handle that. that is one of those things people would rather miss a plane or a trained than leave their phone at home. they would go back. it has become such a part of the culture now people cannot help it. they do it automatically. you check your tweets during the break. betty: mark? you just called me out. mark: but that is not a bad thing. people can say, great job in the

interview with mark. or they are giving us ideas to push another segment forward. that is a good in. betty: what is your favorite don't? mark: don't hide in the weekend bag. everyone knows what it is. betty: by the way, that is not a weekend bag, that is a briefcase. mark: weekend briefcase. if you speak out and are terminated, please do not blame us. this is all tongue-in-cheek. betty: you can read more about it, escaping on summer fridays without getting caught, on the last page of the business week. mark, i am getting out. mark: she is rolling away right now. more bloomberg market day in a moment. ♪

mark: welcome back to the

bloomberg market day. t1 for staying with us. let's get straight to your top headlines at this hour and the first republican presidential debate quickly revealed the party is a divided house. the top 10 candidates in the latest polls skirmish last night for a national tv audience on fox. >> is there anyone on stage, and cannot i see hands was unwilling to pledge support to the eventual nominee? and you will not run a campaign against the person? mr. trump? mark: donald trump in the middle, raising his hand. this is the first debate planned by the republican committee.

the next is to be september 17th in california. one other note, 7.5 million people engaged on the site facebook, compared to the 6.5 million on the state of union address. new york's senior senator chuck schumer is breaking with obama on the wrong accord. he revealed his decision on the web and an article posted during the night of the republican presidential debate. the obama is different from washington. he is leaving for some r&r a day early. president and his family will return the massachusetts island of martha's vineyard, their sixth visit 2009. no public events are on his

schedule. the obama's had originally land to depart the nation's capital tomorrow. that is your top had news this hour. >> the news here is that value act has a state in amex $1 billion. that is only about 5% of the whole entire value. amex has an entire value of about $74 billion later the company is not a core target but we will be following more on this. let's take a look at the stock right now. amex's stock is up 3% on this news. it has a $1 billion stake says

value act. mark: thank you. coming up with will look at how media stocks hurt the sector. we will also get the first presidential debate of the year from ohio congressman jim ryan. congressman ryan is a democrat who sits on the appropriations committees in the interviews coming up on 3:00 p.m. new york time. silicon valley is known for its fierce talent wars. this week, netflix raised the bar once again. back in 2004 introduced unlimited vacation, and now it is offering dad unlimited parental leave out to one year of paid time off. other companies following suit? joining me now is different from the benefits consultant a win

humid. this is one of those stories that shook of silicon valley but also sugar in america. is this the start of a seismic shift? >> that is a good question. we have yet to receive. i believe whenever an organization like a net next starts to make these kind of announcements and changes, it does start a dialogue within corporations across america about their policies and how they're going to attract and retain and use the talent they need. i do not necessarily see this type of policy across all organizations. over some time, there will see a trend towards the effects of policies in more corporations across america. mark: we're talking about corporations that have a bottom

do this. they have the capital. it seems like, in theory, the right thing to do. but not everyone can of origin to this. -- afford to do this. for already organization that will play into how many people take advantage of something like this, and given a year-long opportunity only people would actually take the entire year or some portion of that. and euthanization would have to work for the resulted to see how this would play out for their financials. mark: are there any economic drawbacks to doing something like this? >> i think the one challenge that any organization would have would be if there are quite a few people taking this, they may

have to write on additional data or temporary staff to cover the work. it may take more effort among managers and coworkers to handle that work. all of those could have an economic downside from productivity standpoint. activity context. mark: when we see companies is look at valley, they have the strength to do this. that is one of the advantages here. what are the other advantages for companies doing this for their employees? >> obviously, the most specific advantage is their ability to attract and retain. especially in organizations where they have hostile and market, silicon valley is one of those. this is an opportunity to differentiate themselves, and to be more attractive to the talent they are trying to grow.

as far as retention it may have more impact their cost of turnover. estimated from 1.5 times page upwards of three times pay. organizations could see a financial benefit of being able to attract and retain on an ongoing basis i got. >> what message do they send to the female employees by doing this? >> netflix in particularly extended their culture. they have had a culture around one's ability and flexibility in adam lanza so i think this was extension of that. this don't spend to fathers as well, that they want to give their employees an opportunity for the right of their family and you are starting their

family. it is a very positive meshes overall being played in that. mark: any thoughts on why europe is so far ahead of us on this issue? >> and begin the u.s. we have been hardwired to think about vacation everything off as things that are crude or for some time. as hard to envision as it is europeans are starting to switch and catch up. thank you for your time. mark: still ahead, why is rock legend neil young selling this slice of your and eyes -- of

paradise? the details after the break. ♪

mark: welcome back to the bloomberg market day. let's get a check of the markets. where following wall street action. we were talking about what is going on the dow industrials. white the plunge on this friday.

>> let's take a look at the numbers right now. the dow, nasdaq, and s&p are all in the red. the nasdaq is the biggest w loser. the dow was only down by about 450 points so far, 2.5%. you do not want to hear that it is also at its lowest since january 30th of this year. i want to take a look into my bloomberg terminal. the s&p 500 at the 200 80 moving average. i bring this up, and you can see this here. it is this purple line. the last two times the s&p actually did this, it actually bounced higher. just in the past 10 days or so. we will be watching to see what happens here if it actually

crosses this line. beyond the s&p, let's go to the russell 2000 and that tracks small-cap stocks and that is done by a little more than 1%. our friends at bloomberg intelligence tell us that the russell 2000 rele relative to the s&p 500 is weaker as the summer rolls on. they call into question what is actually happening with the russell becomes weaker. we continue to watch that as well. biotech shares are continuing their selloff for the second day in a row. right now the ishares are down. they all involve biotechs,

health care, media, and technology. mark: thank you. let's take a look at today's market close in europe. we have the details. >> it is another day of declines for european stocks. investors here have been very focused on that u.s. jobs number. that is fueling bets that a rate rise from the fed is imminent. let me show you what has been the biggest drag on european stocks today. it is media companies. this comes after that two day round in u.s. media stocks that saw the biggest slump since 2008. european broadcasters following suit. of course this is on concern that viewers could be turning more to online programming and that could affect advertising revenues.

the hit show downton abbey, that is down today. the company controlled by a former prime minister. these are two of the biggest of declines on the stock today. let me just show you the picture for the week yes the stoxx 600 has been down, but it is up slightly on the week which is a very different picture to the athens stock exchange. that has been gaining today, but down about 15% this week, the first week back to training after that five-week hiatus right the restrictions that have been put in place, that have made it easier for local traders to sell rather than by stark. that is making a rebound quite d difficult on the exchange. the best earning season in six

years at j.p. morgan. what shows to is that the greek markets are getting more isolated the rest of europe. mark: in asia the first major new listings the china's top market plunge made it a daily hat -- if the daily hate n -- meet its debut in hong kong today. >> thing debuted on the hong kong stock exchange to much fanfare. the chairman and cfo ringing the ceremonial call to start trading. shares were offered at $6.50 hong kong. it gave it a market cap of $55.1 billion in it is the first ipo listings and the stock market route that white trillions of

dollars for mainland shares. mark: it is time now for this week's peek into the good life. while the hamptons have long been the retreat for hebdo wall street executives, hawaii has now become a playground for the wealthy and delete. so with high demand is urging, the hawaii's wholesalers are looking to capitalize. there is now a record number property on the market or at least $20 million. one of those listings belongs to neil young. the rock legend is said to be selling his $24.5 million estate . joining me now, a fan of bill young and beachfront property, matt miller. matt: it looks beautiful, and i

am sure it is, but it is not a very big house. for a rockstar like neil young it will not fit in his entire entourage, let alone his family. although he recently parted with a big part of his family. it might be a part of the sale but it is not mentioned in the story. he just filed for divorce from his wife of 36 years last year. they had a couple of kids together as well. you never noticed behind these moves. but you do know what is going on in hawaii is actually a property boom. mark zuckerberg bought two properties that total 700 acres for $100 million. as you mentioned, larry ellison on an entire island in hawaii. larry ellison now owns the wise six biggest island.

mark: according to the bloomberg terminal, according to core logic, hawaii, along with the district of columbia have prices of residential properties that reach a record. we are starting to see some staggering prices for real estate. matt: absolutely. in some ways it has become the hamptons of silicon valley. those in silicon valley who have enough money to fly around public jets obviously, it gets a little bit further away from the hamptons although the engines here is not very close to wall street and it is not just home prices in hawaii. you are seeing inflation across the board. it is an incredibly expensive place to live. it is probably one of the best places to live in.

mark: coming up 2:00 p.m.? >> we are going to talk to congressman jim ryan from the great state of ohio. some were really seems to be falling apart after yesterday. chuck schumer of new york turned against the president. we also had a republican debate yesterday. they were all the same page is present number of issues, i will ask jim ryan if the same holds true for democrats. he was previously pro-life and has gone pro-choice. mark: we will see you in a few minutes. thank you. the bloomberg market day continues in a moment. ♪

mark: cable media stocks were crushed this week. how are they taking the hit? before we get into this, what type of weekend we seen? chris is probably an understatement. what happened to the stocks? >> a lot of it stems from earnings and from what we should across the broader market, a correction. media companies are one of those companies that have been the biggest winners. when you get the ball market usually think health care and tech. but when you look at the winners, the media has been of over 500% over monday.

value act is an activist fund that has a 5% stake in fox shares brady also elliott has been top 10 holding. then it varies. you have some fun this letter -- funds that are trying to take advantage of merger speculation. you also have time warner hedge funds. we know that there is a pending translation -- transaction, but we do not know that that does not mean it will not happen elsewhere in the sector. anytime you deal takeover, is that funds are trying to get into a position where they can capitalize on that upside. mark: talk to us about some of this merger speculation. anything you can tell us about?

> obviously there is a lot of mergers going on. not only are you seeing it on the targets, you're seeing it on the acquirers. any kind of consolidation that happens, there's a pretty good chance that you're going to see a share boost. it does present a pretty solid opportunity. mark: being of opportunity, the sellers of these media stocks, where are they moving their money? >> hard to tell. but i would present an interesting observation. just since monday media companies have raised about $53 billion in there are two stocks in particular -- i have added the exact same amount in the past month. scum and amazon. -- netflix and amazon.

mark: a look at what has been going on this month between hedge funds and media stocks. to be continued. thank you. coming up, how is cybercrime impacting trade? we sit down with carol mcsweeney from the devcon conference. ♪

mark: it is 11:00 a.m. in seattle, 2:00 p.m. here in new york and 7:00 p.m. in dublin. the u.s. as to 50,000 jobs in july as the unemployment rate

hold steady. we will hear from a chief economist. matt: thousands of computer hackers are gathered in las vegas for the annual devcon conference. mark: we're looking at how technology has changed hip-hop over the last 30 years. good day, from bloomberg world headquarters in new york i am here with matt miller . matt: take a look at the indexes, down across the board. even though we got a job number that