the short of a lifetime. betty: and it is a historic day for u.s.-cuba relations. tourists are ready to flock to the island. scarlet: and a new picture of a and file d its rank employees. good afternoon, everyone. friday. i am scarlett fu, and she is betty liu. b.h.p. let's get straight to how the stocks are looking as we are about an hour away from the closing bell. it looks like we are headed on the s&p for a weekly gain here. remember that in the middle of the week we turned lower for the year on the s&p due to the

chinese devaluation of the currency. now it looks like we may still be able to recruit gains for the year. stan: when you look at this, treasuries, the dollar fluctuating, yawn. a boring friday. it is a typical summer friday. it has settled down. betty: and in the bond markets, you are seeing a reversion back to the trend of the yields on the shorter end of the curve and a bit lower on the longest end of the curve. stan: the two-year at 72.58 basis points. clearly the market action is nothing to get too excited about. betty: shares of sysco rising more than a year.

in a filing, pelts says he may seek representation on the board. he is a rabble-rouser and wants to get things going. shares climbeded to the biggest day gain since 2013. scarlet: hundreds gathered in cuba today to see the u.s. flag raised for the first time in 54 years. john kerry became the first diplomat to vince since 1955. >> it doesn't take thing -- long to realize that the road cuba and the united states were traveling was the rite one. it is time to move in a more promising direction. scarlet: marco is blasting the

reopening of the embassy. he said the cuba regime will receive a economic boom. betty: the ministers will work to agree to the final details of the country's latest bail-out. the greek parliament approved the three-year plan today after debating through the night. this is greece's third bailout since 2010. heading into today's meeting, the dutch finance minister says the eurozone wants to make sure this $96 billion effort will succeed. >> sustainability is still a major point of concern certainly for the i.m.f.. we will look at it closely in october, and hopefully we can make sure it is sustainable by then. scarlet: debt-ridden greece needs money for a payment due sticks days from now. home sales climbed at a slower

pace than july. affirming that inflation may be on its last legs. driven by a simply glut. tty:j. c. penny posted a second quarter loss larger than anticipated. it is in the third year of a turnaround following an attempted reinvention that drove customers away. stock is up 25% so far this year. those are your top stories at this hour. scarlet: right now the bond king says he has figured out how to execute the shorts of a lifetime. he is betting that investors are overpaying to shield themselves from big swings. boit earlier today i spoke to -- betty: earlier today i spoke with bloomberg reporters.

that boast call the market for german funds and chinese stocks would go down. he originally tried to benefit from that from the increased volatility that would you came -- that would cause. he sold puts and calls on futures on the jermaine bunds. and the chinese market, he tried to benefit from the increased volatility he thought it would lead to in the u.s. market by selling puts and calls on the s&p 500. now he is also shorting the german bunds as well as the s&p 500. scarlet: and how much that have is of his portfolio, michaels? >> for the s&p 500, the put contracts that he has entered into equal about 10% of its assets and the short position

on s&p 500 also equals about 10%. betty: lisa, is this a big change for bill gross? >> he is hammering home the point he is concerned about inflation and slowing global growth. shorting makes sense. if you think about it, how can equities continue to rally at the pace they have been rallying given the fact you are seeing weakness in credit, you aren't growing, and he as well things the fed is going to hike in september as he said regardless of the data because they have it in their heads to hike. this is a reversal, though, from a couple of years ago. i don't know if you remember into april of 2013, he said he was going long tips, treasury protected securities because he thought inflation would dramatically pick up as a result of some of this money printing. that has not happened. he has reversed and is very

bearish on growth globally. betty: tell us why he is shorting the s&p, where does that come from? >> well, his first call was the market for german bunch unds would go down. he made that call in early april, and he was right. his problem was his bet was essentially promised on the expectation that the german market would only go down or go up a small amount and slowly. instead the market sold off more quickly and more severely than he expected, and he ended up losing money on the -- or in the form of the puts that he had written. therefore, he is now hedging hat bet by shorting the german contracts. that way the put contracts he entered interest, if the market goes down too much, he is covered by the short positions he wrote.

betty: it is interesting that bill and jeff came out with this call, that generally german bonds were going to sell off and were crazily priced. neither could figure out a way to make money off it. if you short sell this stuff, you have to put your cash in an account in europe which has a negative got rates. you lose on your cash. it is very difficult to implement your views. we talked yesterday about the lack of wick widity in market -- liquidity in markets. it is interesting that in order to execute his view, he has to turn to a more liquid market. u.s. stock. a lot of credit investors have actually invested more in stockton, at least in a growing bucket of their portfolios because it is more wick lid and allows them to execute more quickly on their views.

betty: myles, what about the call on the chinese melo-down, which appears to be coming true at least as of this week? how exactly has he been playing that call? the bet on was the s&p 500, the puts and calls that he wrote. he thought the sell-off in the chinese market would lead to increased volatility in u.s. stocks. he was basically betting that investors would over pay for insurance against the volatility in the u.s. stock market. he is trying to generate income by essentially selling this insurance in the form of putting and calls. scarlet: much ahead on theberg market day. an historic day for u.s. and cuban relations. the stars and stripes fly over

havana. time to make way for the tourists and company.

scarlet: welcome back to the bloomberg market day. i am scarlett fu here with betty liu. let's get straight to julie's look at the market. we are a little less than an hour away from the closing bell. >> i wanted to look at some of the semiconductor related companies. this maker of kenyon martin ctor making equipment -- semiconductor making equipment. it can be a bell weather for industry. the they make orders several months in advance of an expected

demand. so the fact that this company is coming out with in forecast is raising some concerns among semiconductor investors. something else that may be raising some concerns. micron technology holding an analysts meeting for analysts and investors today. the company came out with its fiscal 2016 capital expenditures forecast. the company said it is now going to be spending more than this year, $5.3 to $5.8 billion. that is not being greeted well by investors. they are trading at their lowest since 2013. that prompted me to look at semiconductorors more broadly. the stocks versus the s&p 500. what has happened with these guys for the year to date. you are look at the s&p in this orange color and the sox in white. they peaked whit close to each other. for the s&p 500 on may 21. for the sox it happened on june

1. what has happened since then has been interesting. the s&p 500 has pulled back a little since then, down by 1.9% after reaching that record. the sox, however, is down more like 15%. why is this important? well, some view the semiconductor makers as a leading indicator for the rest of the market. the fact that this is broken down much more sharply than the s&p might be viewed by some as a bad sign. another that caught my eye was debt , which has been rating throughout the date. investors could be price negligence a potential loss of traditional distribution starting with dish. he dish renewal is a hard to predict, birch nanch r event. viacom has been struggling

after earnings reports last week when many of the media stokes were hit hard after earnings report and concern about subscriber growth, cutting the cord, about what is the future of this model of watching your television. scarlet: julie, thank you. betty: well, the u.s. embassy over in havana is officially open for business with secretary of state john kerry raising the american flag above the building for the first time in 54 years. now it is time for the once forbidden island to make way for american tourists. cheap air.com, the first online travel agency to book cuban-bound flights says it is seeing a massive spike in search volume. jeff is with us. you know what economists say. it is one thing for people to say they want to do something. it is another for them to go and do it. a search does not mean they are buying tickets, does it? >> no it, doesn't. we see the conversion rates for

cuba are a little less than other destinations. i think there is a lot of interest in it, but when you go through the process you realize it is still not legal to go to cuba to lie on the beach for a week. there are 12 approved reasons, and when you are going through booking process, you have to indicate which one you are going for. for example, educational, professional or to visit family. but general tourism is not one of them. betty: is there any way for authorities to fair vie, to enforce that? >> yes. it is kind of an honor system, and we are required to keep that information for five years. theoretically the government is allowed to or can question someone after the fact to verify they really did travel for the reason they gave. i haven't heard of that happening yet, but who knows? scarlet: there may be more important things to do in terms

of deploying resources. >> you could make that case. scarlet: when are we going to see direct flights to cuba? >> right now there are direct flights in the form of charters. we do sell those on our site. but they are fairly limited. i suspect probably by next year you will see maybe american flying from miami or delta from atlanta. there will reach a point where it is as easy to book a flight to cuba as it is to florida. scarlet: you would you would like to see all kinds of travelers, not those on educational trips or journalistic endeavors. does cuba have the financial and physical infrastructure to support an influx of american tourists? >> it sounds like it doesn't yet. most people think it will. that is part of the appeal. people want to go to cuba now because there is that frozen in time aspect where it was like

it was 50 years ago. there is a feeling that if you don't go soon, by the time you get there, there is going to be a disneyland and a dunkin' donuts on every corner and like going to orlando. betty: that is going to happen. in terms of air farris, what are we seeing -- air fares, what are you seeing with ticket prices? now that there is open relations, are we going to see prices skyrocket? >> there is still limited inventory. flights from miami to havana run around $485. other agencies are more expensive than that. scarlet: a final question for you. how do you compare the current restrictions to coupe with programs other pariah states, offense going to iran or north korea if someone were so inclined?

>> well, iran you can fly to. to ould book a flight teheran. cuba is different because it has been -- there is this intrigue for cuba because it has been forbidden so long. you tell someone they can't go somewhere, and it makes them want to go, and cuba is so close. it is hard to find too many parallels to cuba. i don't think there is another destination i would put in the same category. scarlet: for adventure travelers. jeff, thank you, c.e.o. of cheap air.com joining us from los angeles. betty: maybe on the vacation list next year. scarlet: till ahead on the bloomberg market day, cord cutters look to go tune into apple's live chance. betty: they are going to have to wait longer than that. scarlet: have you cut the cordon that? betty: i am cord shaving.

i am indeed. more on that next.

scarlet: want your apple tv? you have to be patient. apple has scrapped plans to introduce a service this fall. it is pushing back a larson to next year? betty: that's right. they don't have enough content deals in place. they want to offer a package for $40 a monday. jerry smith is a media reporter for bloomberg news. he spoke to pimm fox and olivia stearns earlier today. >> this moment right now is actually critical. more and more people are starting to cancel their cable

tv subdescriptions and watch tv over the internet. over the last quarter, pay tv distributors lost more subscribers than they have ever lost before. the timing for this service is actually very good. >> can you explain what is apple tv currently, and what is this idea to offer live streaming television in addition to what you can get now? >> apple tv is a set-top box you have in your home and you can watch very apps on there. >> you can watch a variety of television programming as well as any kind of movie you want? >> right. what apple is trying to do with this live tv service is a little different. this would be for about $40 a month, you would get maybe 20 or 30 chance. the sticking point with the cbses and the foxes of the world is price. if apple wants to charge $40 for this service, but at the same time they want to get as

many chance into the service as possible. >> where would you get the connection to get the live tv? right now you can't use apple tv without some kind of internet connection? >> right. this would be live television -- >> so you are going to pay your for your criber internet connection, and then ou pay apple, and hualalaiy. cord cutting is people saying i just want the internet or i want to use someone's wi-fi. >> that is a fair point. some say maybe this $80 a month for cable tv isn't bad. if you are a cord cutter, you have internet, and then $8 a month for says my street, and hen you pay apple tv $40 a

month. >> apple is used to making some pretty fad margins. any chance that cbs is going to go for that? >> i think programmers actually have a lot of leverage in these negotiations? >> even if they are bleeding subscribers? >> television companies want to have a new distributor. a new soars of revenue. >> can they offered to not be on an apple tv service that is going to be in x number of homes? >> yes. if you look at what apple has done with the music and phone business, they are very influential. >> that was jerry smith. i know you are cutting back how you guys watch. meantime, we are paying for every live sports event in our house. >> i would not say we are cutting back on the amount of video. we actually watch more video. we are cutting back on where we

watch it, but we are cutting back on the actual television screen. my kids and i watch it on our ipads, or phones. we are screen agnostic right now. scarlet: i have to still watch sports on a big screen. betty: you and your sports, scarlet. scarlet: i am going to take off and get ready for what did you miss. you have much more. betty: that is right. much more on the market day. the european economy sutton sputter. we are going to hear from a committee member and someone from dartmouth college. ♪

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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. >> welcome back to the bloomberg market day. i am betty liu. let's get a look at the top headlines this afternoon.

general motors is recalling more than 73,000 chevrolet cobalts in the u.s. and canada. improper wiring could prevent the roof mounted driver's side air bag from deploying after a crash. t affects the 2010 model year. volkswagen is recalling 420,000 vehicles because a problem with the air bag. the recall is for eight models, including jetta, passat and one other with years between 2010 and 2014. crude oil with a small gain today after a long run of deadlines. crude had dropped 3.4% since august 11, drinking prices to the lowest level in six year. gary shilling is looking for prices to go lower. >> when you are in a bright war like we are in now, because opec said we are not going to

cut production. we are going to see who can stand low prices longest. you are talking about the marginal costs. that is $10 $20 a barrel. that is where we are going. how long do you stay there? at some point, somebody chickens out. they are playing this elaborate game of chicken. >> the international agency says the market surplus will ast through 20e16. yesterday, tesla filed to sell 2.1 million shares to raise $500 billion. tesla is giving himself more breathing room as it prepares to sell its model x sport utility vehicle. european governments have agreed on a third aid package for greece. it is worth $96 billion and

signals a determination to keep the country in the euro. finance man sisters approved this new loan program. the fresh money will be parceled out over three years as greece enacts economic reforms. those are the top stories. coming up in the bloomberg market day, who is bringing in the big bucks at j.p. morgan? turns out it is not c.e.o. jaymee diamond. it is the first time that has happened since 2007. why do investors always feel uneasy before the weekend. and what is corbynomics and what might it mean for great britain? all that and much more. this morning we got a fresh read on the pace of economic growth in europe, and it is not good. euro area gross demetic roblems registered a zero pace

last quarter. growth in france, flat. earlier, mark crumpton and i float to a former bank of england policy member. >> the number is obviously quite a weakness. we should put it together with the other set of data that came out on inflation. 11 european countries in deflation. finland has just g.o.p. into de-playstation. t looks like tess -- looks like it is going to be four years in a row. the european central bank said they thought things are going ok in the european union. but there were major risks to the down side. now we have risks to the down side from china, risks within europe, dow jones unemployment. so this really dark double-digit unemployment. this looks like the plans to keep the eurozone economy going on steadily are actually failing. we may well see more boost. they are talking about we are

ready to intervene and use all the weapons we need to. so a slowing european economy probably not that great for the dollar. betty:ening of the radar, but what impact will this have on fed policy. janet yellen and her cohorts are focusing somewhat on what is going on internationally. they recognize what is going on overseas is going to impact us in europe and china. what does that mean for the fed? >> nigh cerullo is this is a complicated set of skirmishes. the action of one central bank impacts everybody else. the strengthening of the dollar has had a major impact on exporters. it has hurt microsoft, g.e., intel, caterpillar and disney, particularly who have earnings outside their country, outside the u.s.

strengthening of the dollar is equivalent to monetary tightening. betty: but does that mean the fed moves or not? >> i think it means the fed that is not move. there has been monetary tightening already driven by the dollar. if you think of it, what would the european central bank like the fed to do? they would like them to raise rates so that can depreciate the year and have a positive impact on the economy. everybody else would like them to do that. >> let's talk about some of the specific countries like region to region. we did see some growth in germany. >> right. mark: but we still see this tepid growth, under performance going on in france and italy. talk to us about the regional break down. what is happening in those countries? >> well, it certainly looks like there is very little evidence that outside germany

there is a great deal of strength. we see weakness in the industrial production numbers, high unemployment in all these countries. so we are really not seeing fundamental strength other than in germany that itself is benefiting from having all these countries in there, keeping the you're much cheaper than if they have the deutsche mark. there is contagion if you like. there is also a major issue of deflation going on. i guess an economist would using the three letters. we are sitting at the zero lower bound, very hard to get out of it. only -- really the only other country that has done well in europe is poland. data from the u.k. suggests that the unemployment rate ticked up and employment has started to fall. and business confidence across europe has been falling for the last few months. so this is looking like weakness in that area.

>> it is. but indian, back here in the u.s., i want to focus again on the u.s. economy. some people say we are going to make the same mistake that japan made, which is we are going to raise interest rates when we are seeing this low, almost zero inflation ear environment, and we are going to plunge ourselves into recession just like what japan did. >> well, that has been an argument i have made i think on the program with you several times. >> but is it a reality now -- >> oh, it is absolutely a reality. partly inflaugs does appear to estimate. d biased so we are probably in deflation already. the e.c.b. did it twice in 2011. sweden did it. now what we have seen in the last couple of weeks, sweden not only had negative rates, it had to lower those rates to make them further negative. one of the e.c.b. rates is

actually negative. stan fisher in an interview with tom: said we thought the lower bound was zero. now we realize the lower bound is actually negative. so this looks like a major mistake. you should always err on the side of caution, and not raising rates and leaving them for longer. the danger would be you raise them to deal with the recession that you caused by raising rates. betty: that was dan yes, professor at dartmouth, college. coming up, the f.c.c.'s new pay zhrure rule may not paint an zphrore -- new bay

betty: welcome back to the bloomberg market dalte. i am betty liu. time for a look at the markets. just about 20 minutes ahead of the closing bell. i am going to head over to julie. it is the dollar you are starting on. >> yes. i am looking at the week. let's take a look at the week that was in the dollar. the deadlines we have seen, down almost 1%, its worst week in about two months, spurred initially by the china did he the tion and then -- china devaluation. people assumeing that with that devaluation that would then potentially have an effect on the fed, maybe push back the fed rate increase. and yet the supposition that a fed rate increase will continue to be good for the dollar might be a flawed one, so says articles on the bloomberg

terminal. andrea was kind enough to send me this chart. the blue line is the federal funds rate. then in the red you have the u.s. dollar index. what the two of them did was look back at other situations, other times when we have steen increasing rates to see what happened to the dollar. here back in 1994 as you had increasing rates, the dollar fell. here, too, as rates started to go up, the dollar had a down tick. and similar action here. as they said in their story, on average leading up to a rate increase, the dollar rises in anticipation, and then in the six months following it falls about 6% on average. the people we talk to all the time say each of these situations is very different. it depends on the pace at which rates go up. still, something to considered, the past history we have seen when you look at the dollar action and try to ants patriot the dollar action as the fe increases rates. let's take a look at other

assets and what we have seen for the week. oil is notable because it is down once again in trading, near its lowest in 6 to 6 1/2 years, down 4% on the week. that is the seventh straight weekly deadline, the longest string of deadlines we have seen for oil since january. as for gold, however, it saw its biggest rally in a couple of months, up about 2%. we saw that china devaluation and risk off environment, we saw people looking to gold, at least temporarily because now it has ticked down over the past couple of days. and finally we get to stocks. the s&p 500 for this week, not a lot of change. up about .7%. a lot of action earlier in the week on china, and then things have calmed way down. it is an august friday, ladies and gentlemen. betty: it is an august summer friday. your weekend is about to start soon, julie. >> yours too. betty: julie hyman your market

correspondent. now for a look at top stories. things going sour for the maker of candy crush saga. quarterly profits dropped. the company says revenues from the game are still deadlining. will e the slippage, king keep investing. apple decided not so smart to launch its tv service right now. they are delaying plans for launch until next year. sources say apple doesn't have enough consent or computer network capacity necessary. apple is talking with cbs, fox and other networks for content. they will still unwrap its new set-top box at its planned launch event on september 9. vacation. bama is on

the white house launches an official channel on spot fly. he enjice music by artists sucks as june timberlake and others. in the evening he shifts to the sounds of franc cincinnati, green and beyonce. when it comes to company pay, it is usually the boss who gets the biggest paycheck. not so at! the c.e.o. made $7.4 million last year. the bloomberg pay temperature team lunched those numbers for you. the key thing here is we are talking about salary, not total compensation. >> correct. betty: this is governed by different regulations. >> yes. we went hunting for the executives with the highest salaries in the u.s., and we

ended up with danilo pin to, who is in the u.k. what is driving this is the e.u.'s rule to cap bonuses for their bankers to dial back on risk-taking. so what they did is they moved a big portion of his cash pay into his salary, and called it cash allowance. that made his salary jump in 2014. betty: essentially they are reigning back on risk. so it is not so much about the performance. the compensation is not so dependent on performance, and they decided to give him more cash. different story here in the u.s.? >> right. it is actually the opposite story in the u.s. what they wanted to do is have any pay above $1 million be performance based so it is not taxed. a lot of executives, almost 2,500 ruffles get paid d- executives get paid less than

$1 million in salary. anything above $1 million has to be performance based. in the 1990's, stock options are refused, all these big performance based pay packages exploded. balotelli jaymee dimon's compensation obviously not $1.5 million. closer to $20 million. >> right. betty: does that make him one of the most highly paid executives? >> yes. bonus imon gets a cash of $7.4 million. betty: describe the pay structure? does different from other wall street banks? >> it is not. across a bunch of companies in the u.s., it is standard. you have your salary. you have your cash bonus that is based on some sort of preset performance condition. then you get your r.s.u.'s, which vest over time, and depending on the achievement of

performance and options. it is about the same. betty: laura, thank you so much. head of the bloomberg pay team. much more ahead on twitter. twitter shares getting a slight push from reports that a new c.e.o. could be named as early as next week. according to an analyst, he expects the company to announce a new leadership. williams will have a stronger role on the board. dorsey returned to the company as interim c.e.o. last month. emily, what are you hearing in san francisco about this pending announcement? >> everybody wants to know how this story ends. we have been talking to a lot of sources, and there is no indication that any announcement of any kind is coming next week. it is going to take longer than that. the twitter board is doing a search, a full search of inside and outside candidates to determine who should be in this

position. obviously jack dorsey is interim c.e.o. right now and certainly the most obvious choice to make him c.e.o. but as we know, there are some complications because he is currently c.e.o. of square, and square has filed to go public. you know that big anniversary in twitter said a couple of weeks ago that he thinks evan williams should be named chairman, and jack dorsey should be named c.e.o. of twitter and remain c.e.o. of square. just because that is what he wants doesn't mean that is what the search committee is going to do. there is talk there will be a board change up after this. that is coming from our twitter reporter, who reported that dick is likely to leave as soon as a new c.e.o. is chosen and that the board in general is going to be looking for more diverse candidates that are more representative of what twitter should be in the future, a company focused on

media and technology. i take a little bit of issue ith some of the specifics that bob check chose. he singled out a couple of board candidates he thinks will leave. some of those are actually on the search committee. it seems unlikely that someone who is choosing the new c.e.o. is going to leave as soon as that choice is made. betty: i thought jack dorsey has said he is not interest in running the company permanently? >> he has not said that. nobody knows exactly what jack dorsey is thinking except jack dorsey himself. what is obvious is he cares about both companies. he is a founder of both companies. he wants what is best for both companies. at the moment he has said he is not leaving square any time soon. he has not said that he doesn't want to be c.e.o. of twitter. most people believe that he probably does because he care buss it so much. betty: he has a lot of skin in the game for sure.

recommendly, thank you. emily challenge, our bloomberg west anchor. still ahead on the bloomberg market day, fridays haven't been so happy for investors this summer. we are going to tell you why that is.

betty: for those investors that aren't at the beach today, they are still having a happy friday. with stocks getting ready to close in the green it seems. moments away from the closing bell. but that hasn't been the knox this summer. the s&p has ened with losses so of the past 12 faris. that is the first time that has happened since 2007. bloomberg's reporter joins us with more. why have we seen these summer fridays more down than up? >> like you said, today is a happy friday, but fridays haven't been so happy. it has been because traders have been very risk averse

lately. a lot of the issues we have seen with the markets and things people have been concerned about have been the international issues. greece was on the front page in june and july. now it is china. for greece, a lot of the developments happen on sundays. investors see that and say wow, i don't want to hold stocks going into the weekend. it is just that mentality that i don't know what is going to happen over the weekend and things can change. so i am going take some chips off the table. betty: when was the last time investors felt this uneasy about the market? >> it was right before the 2007 peak. it is something to think about. it does speak to the attitude of investors right now. if you look at the market, it really hasn't gone anywhere, but we have see a lot of interday volatility. traders aren't feeling about where the market is going, not

certain. it was the same way in 2007. that goes back to them taking mobius off the table saying i on't really know what is going -- of taking money off the table saying i don't real know what is going to happen. betty: are there other factors making traders never doctor nervous? >> apple for example, they had a pretty rough month. i know media stock has been bad. energy stocks have been bad all year. we are seeing brick by brick the bull market fall apart. some traders are thinking this is an internal correction, and others are saying if the support is falling out, that can't mean good things for the number and index. betty: do we expect this sentiment to change at all either when summer ends or we see a fed rate increase? >> that is a good question. i'm really not sure. i have felt like there has been the same sentiment for a while

now. it could be the summer doldrums. but once we do hear something from the fed, that will clear up sentiment a little more. at least traders can say this is what the fed is doing. there has witness an initial rate headache or they are going to wait until december. that will give the market some direction we have been lacking. betty: thank you, callie. much more ahead on bloomberg television. what did you miss? that is next here on bloomberg tv.

♪ joe: we are moments away from the closing bell.

i am joe weisenthal. .etty: and i am betty liu rise. u.s. stocks and confirmation of a strengthening economy. joe: but what did you miss? the opposition party is poised -- and why are places across the world gravitating towards radical leaders and what does it mean for the markets? betty: and more intervention could increase risk. bomb, wea ticking time are talking intervention in a most storied city. betty: it a lazy friday afternoon. before today, the s&p 500 had closedon