mark: is it really that bad of an omen? we will break down technical data. betty: to republicans who have never held public office are leading the polls. donald trump and ben carson comfortably ahead of the rest of the field. mark: shares have failed to impress since hitting the market in january area now the file storage company hitting a major higher.g a major the ceo here to tell us about it. betty: good afternoon, i am betty liu. mark: the death crunch sounds ominous. we will find out if it really is coming up. a look at the markets office tuesday -- thursday.

the selloff over the past few days. study on wall are street. the dow, s&p and nasdaq showing gains. nasdaq of .4%. we are watching cool hand loki that generated 30% less than the ipo price. -- houlihan lokey. intraday they are up 8.5%. betty: moving onto the currency markets, our top story of the week. the dollar climbing against the salesn the year -- retail numbers, which came in line with expectations. it shows consumers are spending. we have been at a four-month high with the dollar. the, china's reassurance of evaluation moving things along as well. mark: a check of the bond

markets. the two year yield, look at that change. betty: a lot of fear with china, the zyields. mark: this has been one of those weeks where use all the ripple effect in china, and we said the other day jokingly when china sneezes, the world gets a cold. absolutely. we saw that vividly in the oil market where we saw them tank this week. they are continuing to fall. look at nymex crude trading near a six-week low. inventory issues a big issue right now. we seem to be continuing to pile on and seeing supply glut weighing on oil prices. going inside the terminal. x index,see the cboe vi

which shows volatility of oil back at the highest level in four months, which we saw back in april. crudewe have seen brent also down below $50 per barrel as well. take a look at the top stories we're following up this hour. betty: growing demand from everything from close to cars last month. retail sales up .6% in july, matching economists estimates. june sales revised upwards. of the bestne performers and online merchants. initial jobless claims covering your the vote was level in four decades. first-time claims or unemployment benefits up by 5000. they have not been about 300,000 since february. that is a sign of you were firings and studied process -- steady hiring in the job market. mark: economist had forecast the economy which ring.

recent reports indicated the economy had been crippled by months of haggling over the bailout. meanwhile, the greek parliament are paring to vote on a new bailout package that will address spending cuts and tax increases. the rest of the eurozone has to approve the deal before greece can unlock or the $90 billion of aid. and china, explosions have devastated part of the city. the blast begin in a warehouse with hazardous materials. more than 50 people killed, more than 700 injured. a number of buildings are now nothing more than shells. a french carmaker said it damaged more than 1500 of its cars valued at $53 million. connecticut's highest court has overturned the death penalty in the state saying it is unconstitutional. that means 11 men on the state death row would no longer be subject to execution orders. the state passed a law in 20 the death12 to repeal

penalty only for future crimes. emirates will fly nonstop from dubai to panama, a distance of almost 8600 miles, about 10 miles longer than the current qantas flight the between sydni in dallas. the emirates flight scheduled to take 17 hours 35 minutes. that is a look at the top stories we're following at this hour. that sonic waves from the blast and china was something else. we saw that and look like a window shut. coming up in the next half-hour, a new poll out of iowa shows dr. pen -- ben carson surging in the republican presidential race. we will speak to and seltzer about this. betty: down in the dumps. the surgeon commodity prices. we will hear from the ceo.

it has been a great week for the dow jones industrial average. stocks in general technically speaking. a rare death cross in the dow appeared in the chart when the 200 day moving average ross the shorter-term 50 day moving average. mark: some say this indicates the start of a bear market and others save the theory shows hold in it. >> as a trading system the death cross is not producing very good results. tocrossed this going back 1897 are there have been 77 of the death crosses. as a trading system not very theul, what it does show is change is trending -- the trending is changing.

doesn't that cross cause of their markets or does a bear what this isit? >> -- telling uscash is it has deteriorated. and we need to be much more selective of what we own and don't own. only 2% is honored of trend. pockets of strength and weakness. mark: does that mean the s&p is headed toward a death cross as well? >> remember where we are on the calendar. it is the middle of august. the next two months are not the kindest for stocks. i think it is wise to be cautious and permanent. i feel much more comfortable finally equities mid-october than august. betty: the fact that we are at the death cross, give me the

history. what has happened when we have hit a death cross? historically is below average returns. over a 250 day period, the average s&p return is about 7.5 percent or 8%. when you get the depth cross it comes down to 4.5%, so below average is what you typically ask that when you get a signal like this. in the following months. as a trading system it has not made you much money to be sure when this happens. investors, do they take this with a grain of salt. even here -- even we who cover it can get lost in the high reason say that is technical folks talking technical stuff. i think investors care about the stock they own. at of the market is down least 20%.

there are certainly pockets of weakness there. that is what investors are most focused on. what we want to focus on in the selective market, where are things trending? consumers and bank stocks look ok. betty: are there any other bear market signals right now? >> sun life have not asked about well. have not active at will. transports down as well. we have seen a lot of the emerging-market indices in bear markets. a lot of high land, indonesia down sharply. so certainly there are pockets of weakness we need to be mindful of. mark: is it possible a movement by the fed to raise interest rate could exacerbate the problem? what you see historically it is rarely the first rate hike that gets you into trouble, it is down the line. could there be problems? absolutely. is it a trend toward the broader

market? probably not. long after a first rate hike do we see some sort of --do we see some sort of trend forming? >> typically a bear market when they emerge. mark: inflation still below the fed's 2% target. >> still very benign. longer-term you have not seen the big fundamental cracks. betty: the puzzling market. puzzling environment. thank you for joining us, chris as -- sts strategic rategas partners. ♪ ♪

betty: welcome back to the bloomberg "market day." i'm betty liu here with mark crumpton. mark: going to julie hyman with a look at the market. julie: analysts call seems to be pushing the stock for which they affect. looking at gopro. starting with yahoo!. i have my order screwed up. yahoo! up by 6%. the stock upgraded to outperform. he looks in the list, at the some of the parts in

valuation. when you look at yahoo!, yahoo! japan, alibaba, it adds up to 32 dollars per share all of that adding into the existing business. $56 overall is the price target that bernstein gets to. also says alibaba deeply under valued, which is interesting. take a look at the bloomberg terminal. we certainly have seen a big turnaround in alibaba stock as it has fallen from the ipo. falling from the peak after the ipo. yahoo! has tracked closely with alibaba. they are saying investors not taking into account the alibaba and the power it brings potentially to the table. moving on in terms of the other analysts call, now talking gopro. gopro initiated with an

cowen.form at: -- ho not only for sports enthusiasts that families. looking at leadership where her outperform is coming from. also taking a look at microsoft. smith title no -- alphabet soup here just execution. down the road for the initiative that microsoft has been working on right now and gross profits are growing faster than operating expenses, which would obviously be a good thing. mark: julie hyman, thank you so much. storiesok at the top crossing the bloomberg terminal at this hour. joe biden reportedly using his vacation to think about his next

job possibility. the wall street journal says the vice president is making with friends and family this week about a possible white house bid . it would be his third try for the democratic presidential nomination. the vice president said he will announce his decision next month. -- formerger jeff virginia governor bob mcdonald asking to remain free while he appeals his public corruption conviction to the u.s. supreme court. the u.s. -- the three-judge panel unanimously upheld the conviction in july. the court found mcdonald and his wife guilty of doing favors for a wealthy vitamin executive in exchange for more than $165,000 in gifts and loans. that is a look at the stories for this hour. onty: coming up, staying politics. we will hear from republican candidate in carson. mark: his numbers have jumped since last week's debate. here is what he said about the

iranian nuclear deal. >> i do not think that is a reasonable deal at all. i would be very anxious to come up with something better. and if we could not come up with something better, to impose sanctions and increase engines and do whatever else is necessary, because the nuclear armed iran will be a nightmare. ♪ ♪

mark: live shot of the u.s. capitol dome as it undergoes reconstruction work in washington. support the republican candidate dr. ben carson leaped after last thursday's debate. the poll likely i will caucus participants with his rating up 14%, second only to donald trump and the only other republican was -- with virgil --

double-digit levels. betty: incredible. how did all this happen, and do we take these results seriously? seltzer runs- ann her own polling group and joins us from iowa. how budget are these numbers? are legitl numbers for what they are. they are a measure of what is happening right now in august. they could not predict what would happen eventually. people will end hundreds of millions of dollars to change the numbers. do they reflect the numbers where they are right now? yes. mark: talk to us about the surge dr. carson has made in the poll. what sense to be get for why this is happening? can say this only as an observer. i am not privy to the details. as an observer, i think there is

something he shares in common with donald trump. what they have in common is a very common sense way of talking about these of the problems and the way we need to fix them. they are both washington outsiders. there is a sense they are engendering the public that they would have a different way of going about solving the problems, that they would not thattuck at brockmeier ends up being washington politics with people on principle rather than trying to negotiate a way forward. betty: the sense of authenticity and being outside the beltway is also why i suspect bernie sanders is surging in the poll. how worried should hillary clinton, the establishment be? i think one of the things in addition to its authenticity if he wears his heart in the sleeve and kenexa to the policies he is

in favor is there is pent-up demand on the democratic side to be feeling good about being on the democratic side. that is not what hillary clinton is kind of the only show in town for people that are looking for that kind of connect to our heart and tell us how we will be able to go forward. hillary clinton is much more cautious, much more reserved, much less intense -- much more reserved. they expect hillary clinton to be the nominee. for right now bernie sanders feels. mark: we should mention, as you alluded to, the poll that are very wild do see swings and these holes. can change the mind

if and when they choose. as long as you have been taking swingsls, do these wild surprise you? they don't surprise me. we certainly have them 2012. different candidates have different popularity and different candidates themselves from popularity. final dusts and the swings in the final polls we do up until the caucus. we had howard dean meeting and he fell to fourth place. we had a poll that had rick santorum in fourth place in group to challenge mitt romney from the leave. that is in the four or five days before caucus you see those kinds of changes. this is natural for the process. joe biden has not even declared he is running. reflection ofis a

concern on the democratic side. can she get through the challenges she is facing and end up old? there is not an expectation among democrats likely to participate in the caucus. there is concern he will not be a nominee. if he is not going to be and hillary clinton is damaged in a way that will make it difficult for her in the general election, has run? joe biden twice before. he is a known quantity. i think there is this plan b. sense that the a folks being questioned, do they have a sense of they are caring about the economic situation or as some have suggested, is this all about social issues this time around? what are the folks

telling you you go >>-- telling you? >> we had a list of 20-some issues. what is something you want to hear the candidates talk about or no? for both groups the bottom of the list, people said they wanted to hear candidates talk a lot about the special issues, abortion, same-sex the candidate's religious beliefs. there are issues that have to do with international trade creating jobs and a host of other things that are really much more on people's minds. i know there is a segment because they called me and say we are tired of the other conversation, let's get to the core. do the other candidates that are not pulling that 12 but expected to win like jeb bush of the world? what do they do now? he has to find a voice that

sets himself apart and in a positive way. he has to make an affirmative case for jeb bush. it is a difficult situation to face. 16 other candidates, one of whom theonsuming the majority of media attention. he has to say something very strong and very different. selzer joining us. thank you very much. betty: on that note, i'm signing off. mark: aaron levie trying to expand the company's product line. he is going to join emily chang coming of when bloomberg " markets a" continues in just a moment. -- "market day." ♪ ♪

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man snoring (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. mark: welcome back to the bloomberg "market day." i am mark crumpton in new york.

going straight to the top headlines at this hour. investmentutique bank begin trading under the stock symbol hli, raising $220 million in its initial and bustle less shares then offered at prices below the market range. earlier we spoke with the ceo. >> this is the right transition for the firm. we have been built to go public for many years. it will be a great opportunity for us to get to know many clients, get x poser. continuation of going global. of the proceeds of the ipo will go to the japanese financial firm that purchased them in 2007 and the firm's executives and employees. it is a matter of old media meeting new. incast boosting it stake

vox, a conglomeration of websites focusing on sports, food and clothing. making a $200 million invest and valuing it at about $1 million. the chairman spoke to bloomberg earlier today. >> there is great opportunity to ask those one another's programming and opportunity on the market front as well. marketers increasingly looking for not only gilbert premium advertising. both companies are able to provide that. by joining -- joining forces we can increase scale. money moves for tesla. the company filed to raise $500 million in the stock sale. plans to buymusk 20 million of the shares himself . tesla was up 7% for the year. the company rolling out a new

suv month. nbc likes what it is seeing on the " tonight show." expanding the contract for jimmy fallon by six years. februarytook over in 2014, it has dominated the late-night dan skate versus all timeslot competition with a and total viewers 18-49 demo and all other key ratings categories. those are your top stories. coming up in the next half hour, the greek economy shows signs of life as gdp rebounds. this comes on the same day the greek parliament takes a key bailout vote on the latest package. ,rom south america to the asia china's move to devalue the currency has sent shockwaves through emerging markets. what does this mean for countries like malaysia and vietnam that are heavily dependent on chinese x port? we will speak to blackrock senior investment strategist for

emerging markets. online stories provide the corporate business. executive to oversee the executives which includes building a block -- fox on platforms. emily chang in san francisco joined by mr. patel in the ceo. >> thank you very much. thank you for doing this. until recently you guys were competitors, right? now you are working for this guy. what is that like? >> it has been 24 hours. i will find out soon enough. is to makenitiative it as a platform succeed. what does that really mean? >> for the past 16 years we have been building out a platform.

applications can be developed on top of the platform. they have come on board to help build out that part of the business, which means we will work with the 47,000 customers. partners like ibm and accenture and rodriguez. next-generation enterprise applications. mily: you want customers to realize you can build apps on top of that? >> yes. emily: you have been in this application for 20 some years. what makes you think it can succeed? >> the majority of businesses

getting built that are much more interoperable. if it bothered you, as a start up you would build a naphtha never worked. to partnera way is with millions of technology that with the world. the platform as a service is a fundamental way. if you think about what will happen in markets moving forward , developers will say if i want to have a messaging services as a core part of the application, i will use this. we will become the de facto underlying framework that powers applications to be more secure. emily: do you have customers already doing this kind of thing? thousands of customers build applications for their businesses. -- only this year is the first time you can do that at scale. the developers conference in

march we announce the news that of capabilities around this that are in beta right now. developers vox addition. later this year we will open it up from developing financial services firms, new ways to share with financial clients, retailers that extend to customers. any type of the case were a bit as thieves to be able to transact and collaborate around business content, you will build that type of application around the platform. vox, ithe thing with has always been a competitive business. how does it eliminate? -- the thing with box. >> what we have been doing and obviously sharing is we are building a leading platform in the market. that is why we ensure marketing so we can sell to ge's, toyota's, eli lilly's of the

world that are very large customers of box. we have in making sure to build the leading enterprise that form. what the new offering does is it expands the use cases that customers can use box for. internalf just the applications, we can solve the business transformation elements of what our customers are going through. a lobster gear because we are embedding in business applications. emily: what is the business model? >> customers will pay on access on a per user basis for the number of users they want to build on. they want to feel to leverage the platform. a very similar pricing model to the typical product. instead of using the end-user interface, we underline technology at box. we operate completely behind the scenes. of a back end

service for the application. emily: is there any anxiety about putting all of their stuff in your cloud and use your tool? security is such an issue right now. privacy. >> that is driving customers to bo when you think of the traditional way to manage datax. , when you think about the on legacyse were architectures that were very vulnerable and susceptible to people leaking data. when you think about traditional storage structure, software, the way you did security around the data, it was a very legacy approach to managing information. in a cloud and mobile world, we a first-class is focus area. everything we do has to be encrypted. unique complete visibility for how data is accessed. ou need complete

visibility for how data is accessed. as someone who understands the whole landscape having them this for so long, microsoft kind to do this, google, so in a very different way, why did you put your money on box? i know you say there will be a shakeout in the business. thisdoes the shakeout? -- shakeout? >> the kind of applications are very different. when you look at the enterprise content management business, only 10% that sits in the system. 90% since outside. has gone out with a modern way of interacting with users, we are after 90% of the model, not the 10%. so you will see us working closely with companies with microsoft. we now have a partnership with microsoft and ibm where you are in office, you can go out and use box.

does have aforce product similar to this. i know, as you have expressed, you have a vision that box will be so much bigger. where is it in 10 years? is again the way that you use it today is for secure file sharing collaboration, but we built an underlying platform similar to what ails force has gone through. they had this and opened up the platform as salesforce.com. what they did for sales data and customer data, we are doing for content and business information. where that takes us over the next couple of years, you will see thousands of different types of applications being created for enterprises. you might be working with your insurance provider, your health care provider, working with a different retailer. thoseght be powering

experiences behind the scenes and might not even know it. then you go to work and use box for collaboration and sharing. the platform that empowers those interactions. emily: are you ceo now? i have heard your name is a dark course name for twitter. >> i do intend to be the ceo. emily: the enterprise all caps. strategy chatterjee -- officer. thank you for joining me. great to have you. back to you, mark. mark: thank you all so much. coming up on the bloomberg "market day." greenesterica's companies if they can read and that the commodities fell down. the ceo of waste management spoke to us earlier. some of his comments next. ♪ ♪

mark: welcome back to the bloomberg "market day." i am mark crumpton. going straight to a check of the market. julie hyman standing by. starting with on. j in the treasury market. -- starting with bonds. it is not that it is moving so much but we just had an auction, $16 billion worth and rated as 5.r or 2 on a scale of 1 to interesting we are seeing less amand for that, following on 10 year option yesterday that was also relatively weak.

taking a look at the 10 year into year, the 2 moving the most today. ,.7% as we need selling bonds yields pushing up as we got the better than expected retail sales. also, the situation in china down to some extent. looks like traders are pulling back on the bet that we would see the fed maybe not raise rates in september. taking a look at other asset classes. oil falling to almost a six-year low. 42.21 per barrel as we continue to see similar supply demand equation as we had -- as we have as of late. futures pulling back for the first time at long run of games. gains. the dollar index rising for the

same reason we're seeing them rise. all of that brings us back to stop. going backwards compared to what we usually look at. not a lot of action. definitely seeing support them the better than estimated economic data, as well as continued earnings report. the map of the various sectors of the s&p 500. energies remain the work i about 1%. down 1.2%. that remains the biggest weight. we are now seeing more green on the screen. overall averages being higher. tech has been leading gains but increasing those gains as the day has gone on. julie hyman. after the week we have had, interesting to see green on the screen. taking a look at the top stories crossing the bloomberg terminal. celebrating his

89th birthday with a newspaper column repeating the assertions the u.s. owes cube of millions of dollars for damages caused by a decades long embargo. his brother took over cuba's presidency after fidel castro suffered a health isis in 2000. -- suffered a health crisis in 2006. secretary john kerry will raise a ceremonial lag at the u.s. embassy that has reopened after 54 years. anti-castro dissidents will not be at the ceremony. he will meet them later in the day at another event. that is a look at the top stories we're following at this hour. the meltdown in commodities is filled in the commodities business. waste management is losing money on recycled goods because much like the prices for oil and copper, prices for paper and plastic have also plummeted. earlier this ceo spoke to my

colleagues matt miller. >> we have been hit by a double we meet. when you're processing cost goes ,p and the amount goes down profitability goes down. in the height of the commodity investing $200 million per year in recycling assets. investment has stopped with commodity prices 60% lower than they were three years ago and processing costs about 20% higher. for us, we need to figure out how we can educate our customers so they can give us less contaminated material, and then we need to wait for markets to come back and see commodity prices back. that is another area where i think we can talk to local governments, a government and federal government to say during times like this when commodity prices drive recycling rate down, and you have seen them go down for the past two years, if

we as a country think cycling is good, and i think everyone would agree it is, we need to do something to make sure the infrastructure continues to be built out. we want to have that discussion. tore's a lot of ways solve the issues. we want to do what is right for our customers and government. -- mark: mye colleague, matt miller, joined us in studio. what is the solution? i think the only solution short-term is to start charging recycling.es or whether you are a company or individual, you will just have taxes more, maybe through . most companies that do recycling now are losing money because commodity prices for paper, plastics, cardboard have fallen so much, and because people are putting the wrong things in recycling bins like hoses.

those hoses get up in the machinery and stop the line. he has long been a proponent for moving the nation's trucking fleet over to natural gas. each truck saves 22 metric tons of carbon. amount thative saves a darwin of diesel. not only has he been an evangelist for natural gas, he sits on the board for fedex. waste management actually operates a separate business inside waste management the blitz of natural gas filling stations around the country. other people can use those.

that is another revenue source for them. publicoes he think the gets the urgency to think clean? this he does but he think -- think the federal government goes about it from. the return on investment in solar is so low and energy storage is so difficult. what you can achieve with solar energy is nothing compared to what you can achieve with natural gas. super easy to shift, store, and we have a ton of its rights under this continent. we're going to talk with gordon chang in the 2:00 hour. he is co-author of the coming collapse of china. starting to look more and more like his predictions are coming true. what he has to say about the reasons market crash and what china will do next to save the markets and economies. mark: stay with us.

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greek parliament votes today on a bailout deal that would unlock 90 billion in funds. this comes as greece reported the economy grow your -- for nearly 10% unexpectedly. hans nichols is with me. can this be sustained? s: they have serious concerns about whether this can be sustained. this is a late-night vote. debates happening in parliament right now. the former finance minister has said he will oppose this deal because the debt is simply not sustainable. he says that is the line the imf will come up with. we do not have any sort of

agreement, it could go back to square one. it does look like the new democracy and opposition party will support it. then the question is, does on july merkel's government support it yet that that is an open restaurant. are german lawmakers may vote on this tuesday. between now and tuesday, what is the trading going on to push this thing through? hans: of finance ministers summit in brussels tuesday. we still have yet to hear from the german monetary fund. german officials are insisting you need to have the imf on berd to have the agreement viable. the imf is insisting something be done on the debt. there may be some way to ask the end of the deck. angela merkel leaves for brazil wednesday. that would mean tuesday this deal needs to be passed otherwise of the upper bridge finance. mark: imf participation, is that ns: theealbreaker?ha

germans have been clear they will have a difficult time supporting it. even with that change the fortunes of the greek people? end of june when consumers were bracing for bigtal control, biting items, remember capital controls were put in at the very end of this. of the second quarter not capture the freeze of the economy. mark: hans nichols, good to see you. coming up, retail sales post brought day gains in july. job growth and cheaper gas have propelled consumers to spend. that story next. ♪\] ♪

mark: it is 11:00 a.m. in san francisco, 2:00 p.m. in new york and -- matt: 2 a.m. in hong kong.

we will talk about china. sending shockwaves. ken coleman be restored in the calm bearket -- can restored in the global market? comcast boosting its stake in vox media. we will hear from the ceo and chairman, jim bankoff. never a dull moment. matt: i want to get straight to a look at the markets after the route we saw on tuesday, the big turnaround yesterday, we are now seeing gains. green arrows across the board. the s&p 500 up