we will tell you what is next for the country. was worse recent hack than initially reported. we have to go back to hardcopies and file cabinets? mark: good day from bloomberg world headquarters in new york, i am mark crumpton, here with scarlet fu. a lot of red on the screen again. scarlet: a selloff in commodities weighing on other risky assets such as stocks. now industrials adding a emerging-market stocks falling at a four-year low. lira falling to a

record low. the shanghai composite down 6% overnight. here is perspective on the e.anghai compositio mid-june to early july, the index has stabilized. downe narrowly going listing well with net range right now. we are looking at one bright spot, homebuilders up for a second day. housing starts rose more than expected. we had encouraging homebuilder confidence index news yesterday. it's commodities that are the root of the weakness with copper falling and the bloomberg commodities index also stuck at a 13 year low. oil rebounding just a little bit. low: rising from a six-year

at this point, projections that the u.s. might have some supply gain following that as well. let's look at the other top stories we are following at this hour. greece is selling the rights to 14 regional reports that airports to a german company. the decision hands over the airports, including several on popular tourist island destinations to the company that runs frankfurt airport. the concession is worth $1.5 billion. scarlet: angela merkel meeting with top members of her party to show support for another bailout package for greece. and the finance minister lobbying lawmakers to support the $95 billion aid package even though the imf had yet to commit to putting part of the bill. investors in china may be betting that the government will cut back its efforts to prop up stocks.

chinese stocks fell by the most in three weeks. we spoke with anastasia of jpmorgan about the situation. anastasia: if you look at who is most high to the china commodity play, it's latin american countries. fragileed about how the five has now fallen to troubled 10 because companies like colombia and peru are now in that trouble 10 bucket. mark: the composite index fell by more than 6%, the latest move in what has been a roller coaster couple of months. last friday, chinese regulators said they would reduce buying as volatility falls. scarlet: looks like the housing industry picking up steam in the second half of the year. construction rose last month to the highest level in eight years. of 1.2 million homes beat analyst estimates. buyers are being attracted by

low mortgage rates. the largest auto retailer in the united states is getting bigger. autonation has agreed to buy 16 car dealerships are presenting more than 600 million enable sales. -- in annual sales. 's operating income has risen by double digits the last five years scarlet:. view cable run trials on an electric road that will charge cars as they drive. they wirelessly connect with underground cable -- that will generate electromagnetic fields and charge the cars. those are your top stories. mark: coming up in the next half hour, softbank boosting its commitment to its struggling wireless provider, sprint, adding 73 million more sprint stock. we will hear from sprint's

ceo. scarlet: the world's most charitable sports stars. mark: the irs saying a recent hack was worse than initially reported. how safe is your information? we mentioned, results crisis is getting worse. the economy in a deepening recession, political instability running rampant and the currency's value is falling fast. the situation is forcing businesses of all sizes to cut back and delay projects. scarlet: china's brazil's biggest trade partner. joining us is monica, formerly economist with the imf. specializes in brazil's economy and policy challenges. welcome to market day. boom and bust cycle, political instability is a familiar theme since independence from portugal

in 1822. what is different this time around? thate main difference is we not only have the boom bust cycle in the economy, we not only have the political crisis, but we have one of the biggest corruption scandals in history making the situation all that .ore unpredictable that certainly adds another layer profitability and complete lack of ability to see forward. mark: this drop that we are seeing, is that were linked to domestic policy in brazil that what's happening in china with the devaluation? >> certainly there is an element of the chinese evaluation that plays into what's happening to their brazilian currency. most of the movement we have seen has to do with domestic issues and domestic factors and

the flailing economy and the political crisis. and the complete lack of sense of direction with regard to how these things will it hold the political crisis and the economic one. scarlet: i want to bring in my bloomberg terminal to go through some stuff to put this all into perspective. there is a function on the terminal -- brazil's largest trading partners are china and argentina. we have the same order -- brazil sold $52 billion of stuff to china last year. $30 billion to the west and $50 million to japan. million to japan. right thatle doing brazil is not doing and what can brazil learn from its neighbor?

chile'sain thing that doing right is that it does have a number of free trade agreements with important countries. the degree of openness, when you look at the degree of openness from other angles, from the angle of greater integration into the world economy, chile has gotten much farther than brazil has. brazil has fallen behind quite substantially when it comes to that kind of integration. despite the fact that brazil is a big country, big economy with a lot of potential to integrate itself with the world globe or --ly chains and all that global value chains and all that, it hasn't done anything of the last two decades. we've been seeing pictures of massive street protests that have been taking place throughout brazil. does that street protest have any sense of abating? is it one of those things where

the government is taking heed of what people are saying or do they just not care? driver of these protests now -- as you have seen on the screen, a lot of it is directed towards the government. the protests have become more focused -- there were two other protests earlier this year and they were not as directed against the government as the one one, even if the last saw last people on the streets. a lot ofeflect dissatisfaction, growing dissatisfaction with the way the economy has been handled, with the way the economic situation has played out. unemployment is rising, inflation is rising, people are feeling the pinch. this is very much what is behind these protests. given that the country is in the grip of a recession, it's not likely to fade anytime soon -- the most recent projections

predict the recession may extend well into 2016. is most likely scenario overall dissatisfaction will only grow or get worse as the unemployment problem deepens. we have a chart which finds that 87% of brazilians describe the current economy is bad, from 36% in 2010. does she need to resign for public anger to subside? >> that is the big question and the big unknown. for the moment, it seems like she has managed to shift the growing pressures rising over the last couple of weeks a bit. she's managed to get some respite over the last few days.

the problem is that the economy is not going to improve anytime soon. regarding a mark possible resignation or something to that effect will remain. which makes things extremely unpredictable. scarlet: unpredictable is the word of the day when it comes to brazil. thank you so much. the former economist with the imf. mark: a fascinating story. i'm anxious to see how it plays out. but we have an expert on these things, fascinating interview. still ahead, softbank boosts its stake in sprint. we will hear from the ceo, next. ♪

mark: the new york city skyline on a he's he tuesday during the dog days of summer. -- hazy tuesday. scarlet: big retail earnings today, walmart for one. julie hyman has been digging through it and has the better synopsis of what happened. julie: let's start with the bargain hunters. t.j. maxx and marshalls helping pull up ross stores apricot sales rose twice the than estimated. after sales rose twice than estimated. the company has done well on the inventory side, getting a lot of inventory other release did not want -- retailers did not want because of the west coast port shutdown.

hand, there is walmart, coming up with numbers that disappointed. their sales were stronger than had been estimated by analysts. the company was hit by currency, hit by higher costs to pay its workers as it raises pay. it was also hurt by a higher rate of shrinkage. stores -- shares down by 3%. coming out stronger than estimated, showing a recovery. home depot has been benefiting from the recovery in the housing market. the company raised its earnings and sales forecast for the full year. there has been a lot of talk this year about consumer discretionary outperformance. it's been one of the best-performing groups of the year. i want to delve more deeply into that. it's one of the 10 industry groups in the s&p 500.

you get 24 groups. the best-performing of those is indeed retail come up 21% on the year. retail is not exactly what you would think retail is. take a look at the best performers. everyone, netflix. when you get the performance of retail as a group, netflix is the best performer. ,mazon is a retailer for sure but not a conditional one like walmart. expedia also gaining -- auto parts retailers. just when you talk about consumer discretionary, keep in the, it's not necessarily common definition of retail. amazon is the most heavily weighted member. 24% of the index. thank you so much. a great snapshot of the retail picture. mark: let's look at the top

stories crossing the terminal at this hour. two more u.s. senators say they are opposed to the iran nuclear deal. it will probably pass. a short time ago, democrat robert menendez of new jersey said he will oppose the nuclear agreement. that makes him only the second democrat in the senate to oppose the accord. chuck schumer is the other. corker called on congress to reject the plan. leaderate majority concedes they are probably are not enough votes to override president obama's expected veto. scarlet: he suspect in the deadly explosion was spotted on security camera footage. a man taking up a backpack and then walking away. 20 people were killed, more than 100 others wounded. the bomb exploded in a bangkok shopping area. mark: one of the hostages in the

attacks around paris last january's suing television and radio stations. -- she was hiding under a sink unknown to the gunman went three television and radio stations revealed -- he was released unharmed. 20 people were killed, including the three attackers. those are your top stories at this hour. groupt: softbank increasing its stake in sprint today for the second time this month, the japanese carrier bought shares in the unprofitable u.s. wireless operator. mark: brendan greeley and vonnie quinn spoke to marcelo claure about his first year at the helm of the company. marcelo: has been a fascinating year of improvements. let's talk about the contract issue.

the american consumer is the great beneficiary from this. the american consumer will know what they are paying for. bringing transparency to consumers is a must. the big winners in this movement is the american consumers. we've decided to get away with contracts and completely change the way consumers get a mobile phone. we've done a lot of research and customers are telling us we want the latest device at the lowest price. yesterday, we lost iphone .orever for $22 a month, you have the your oldo drop off iphone at any sprint store and pick up a new one. : over 80% now --

you came in with the softbank investment. spectrum?ur plan for come we the spectrum is will utilize 100% of our spectrum. we laid out a network plan that involved a massive authentication of our network. we want to be able to use the entire spectrum, which will give sprint the competitive advantage in the next two years. we are in the midst of continuing to build our network. sprint will be number one or number two in every signal market. brendan: one thing transparency does is bring down average revenue per user. t-mobile is down there at $48 a month. you are at $55. how much farther can you go? marcelo: we have not. you don't measure average revenue per user, you take into

consideration how much customers are paying you for service. -- we are notze lowering the price. the transparency for the customer -- brandon: can you compete with t-mobile? your turn is at 1.6, there's a set 1.3. 2.3 and nowwere at at 1.56. 1.56 makes it the lowest in sprint history in the mobile business. customers are loving our programs, staying and we've had -- weghest drops in turn feel good on how we are competing.

vonnie: is there some kind of deal in the works? why would softbank increase its stake yet again? is that heat believes the sprint stock is undervalued. he will continue to invest in sprint. he will provide support he has been providing. massiven the verge of a sprint turnaround and we feel very good about the future. that's why i believe softbank continues to invest in sprint. mark: the sprint ceo, marcelo claure, speaking with brendan greeley and vonnie quinn. scarlet: coming up, lebron james known for giving it all on and off the court. --brings six on a new list

whose number one through five? ♪

mark: cristiano ronaldo will make the room for one more trophy on his shelf. he was just named the most charitable sports star by do something.org. scarlet: donating over $83,000 to a 10-year-old fan who needed brain surgery and giving more than $7.8 million to help nepal after the earthquake. there was another instance where in 2004 he flew to and in the nation synonymy victim because young mantage of a wearing a portugal jersey with his name on the back. mark: i don't want to use the term "feel good" but it's one of those things where the philanthropic side of these people who have so much fame and

fortune comes out and there are people who would door them were less fortunate. williams, serena lebron james at number six. scarlet: you know who john cena is? ke.was in magic mi you have name are an lebron james -- how much rent although actually makes. we have much more coming up on the bloomberg market day. we will be back. ♪

♪ ♪ ♪ get excited for the 1989 world tour with exclusive behind the scenes footage, all of taylor swift's music videos, interviews, and more. xfinity is the destination for all things taylor swift. scarlet: good afternoon. a view of central park in midtown, manhattan.

this get straight to the stories making news at this hour. home depot cashing in from the rise in housing prices. the world's biggest home-improvement retailer posted second part of profit that rose 9%. home depot increased its forecast for full-year profit. home prices have climbed 440 straight months. sales of major home appliances increased in the u.s. last month. up 11% from one year ago according to the association of home appliance defectors. -- manufacturers. the leading was home comfort appliances. walmart reported second-order interest -- earnings that beat estimates. here's the ceo on their earnings call. >> i'm encouraged by the improvement in our sales are

bottom-line results should have been better. we had margin pressure from for a receipt -- pharmacy reimbursements. these impacts coupled with higher wage investments impacted eps. scarlet: the strong dollar has hurt walmart overseas and the company is spending more on employee raises. walmart having problems with shoplifters. walmart spoke of a growing problem with shrinkage, stealing or losing goods due to damage or poor inventory management. there is speculation that walmart could be losing $7 billion annually to thieves. there has been a settlement in the big data breach at target. hackers stole credit and debit card information from 110 million target customers. the retailer will pay as much as $67ed $7 million --

million. the agreement will cover expenses that banks hurt in the -- one cyber attack to another. the irs is nearly tripling the number of taxpayer accounts impacted by recent online breach. identity thieves stole tax information and other personal data from as many as 330,000 households. 220,000 more victims than originally reported in may. joining us is adam levin, founder and chairman of identity theft 911. breach bigger than originally reported. there will be another shoe to drop. cite a breach, when you begin to analyze the damage, lets you are willing to declare your entire database -- unless you are willing to declare your entire database the

zone, more people will be victimized. scarlet: at what point can they say the fallout has been contained? adam: there are only so we people in the database. failure of government as a whole and the failure of many parts of the business community to actually get this thing under we are under resourced and undertrained and under focused and we don't even understand the magnitude of the threat. scarlet: until we keep getting more instances and incidents. the irs is a juicy target because of the huge volume of data available on each household. adam: that is true. opm was the juiciest targetable. -- target of all. andas personal information the results of the investigative reports and 1.1 million

fingerprints for intelligence operatives around the world. we real issue here is that are dealing with a situation where government just has not -- we cannot get the senate to pass a cyber security law. they can't even agree on what privacy should be. this is the real crux of the problem. there have been so many breaches, over one million -- one billion files. know.t: that we adam: that we know about. that have already been breached or exposed. the data is there. in the case of this database, they did not do some heavily sophisticated thing that caused them to crawl into systems. they walked through the front door using data that had been collected from all the other

breaches. anthem,r alone, we had premier, carefirst, opm come over 100 million social security numbers. add to that all the information on social networking sites. scarlet: one domino falling on another -- companies and governments are behind in trek to get ahead of the problem. the response becomes critical. who is better at responding? the private sector or public sector? adam: nobody. few people have gotten it right. you have to respond with urgency, transparency and am the. the burden has fallen on consumers. each and every one of us has to focus on the three m's. , focus on waysre

to monitor and ways to manage the damage. scarlet: in every instance, you hear about how everyone is supposed to track their credit reports per what kind of proactive monitoring or initiatives can those agencies do on their end? adam: there are instant alerts. they can say to you somebody is in the process of tried to open an account right now -- it is still reactive. that's why you have to talk about more than just credit monitoring. you need identity or fraud monitoring. which tracks your data. if there is any anomaly in your , you should be notified

just to make sure that it's absolutely you. in order to do identity theft, someone has to re-create you. it's in that data re-creates the process when the game begins and that's why you need help as quickly as possible. scarlet: how much of my personal information should i assume identity thieves already have access to and are waiting to deploy? adam: you have to assume everything. there's so much information -- i have no doubt that my information is out there. it's my responsibility to be watching on a daily basis. whether i'm looking at credit reports, credit scores, i sign up for alerts and my bank. look for more sophisticated ways of monitoring and i have a damage control program in place. scarlet: thank you so much. thank you for the doomsday scenario. the founder of identity theft 911.

coming up, more and more people --und the world competing comcast going after the media. this time, focusing on buzz feed for $200 million. is the airstream now coming back? all that and much more coming up on the bloomberg market day. ♪

scarlet: welcome back to the bloomberg market day. the world is eating more fish in the earth's water sources cannot

supply enough of them. by 2030, we will be buying more seafood in the ocean can provide, forcing us to turn to farmed-ish. -- farmed fish. the third multimillion dollar takeover in the past year. i want to bring in alix steel for more on this. you saw this coming because you reported on this last year. the boom in salmon demand come everyone looking for more protein, salmon is a perfect fish for that. you get 70% of the meat from the fish as a small had a large body -- salmon is the place to be. because we are running out of the actual wild fisheries, you need that farmed fish to deal with demand. globally, by 2050 and we will be salmon a8,000 tons of

year, 800% more than last year. that's an astounding number. we have to turn to farmed fish. what is the distinction between farmed fish and wild? alix: in alaska come if you go with wild fish, they are out in the wild but they are held to come back and they are fish. they are born on land and the farmers let them go free. they are wild, but they are still being controlled. when it comes to farmed fish, aquaculture.ook at they raised the fish on land until they are big enough that they going to big pans in the ocean. it's very expensive. once you use the land in the make itpicks up and

good again so everybody can make sure the land is holding up really well. what about farmed fish overseas? x: we don't have regulation when it comes to farmed fish overseas. norway produces the most farmed salmon in the world. we don't know what they could be doing to their fish because we don't have those regulations. it's an interesting industry. scarlet: making me hungry. let's transition to the commodities close. prices are settling in york. we have to start with oil. alix: the same thing we saw yesterday. 2:00, we saw oil selloff 2% in minutes. now, rallying over 1% in minutes.

it was just me this is perhaps technical. fundamentally, i have not seen anything that has changed. energy assets looking for $30 oil. david says $10-$15. global oil capacity is 80% full. and will come home to roost product stocks are rising faster than commercial crude stocks. there is a lot more space to fill. at some point, that is the real concern. scarlet: a whole other level for the commodities complex. moment -- $42.47 at the moment. look at the commodity complex overall and track that or liken it to what you've seen and emerging-market currencies and both are just straight lines down. is at the core of why

we are not seeing a supply response from lower prices. oldman sachs nails it talking about deflation, divergence and the leverage -- th deleverage. -- goldman sachs nails it. you can afford to keep producing commodities even though the prices have fallen because your costs have come down. ans countriesme like china are paring back. you are seeing oversupply and under demand and not seeing supply get shut it scarlet:. the vicious cycle. thank you so much. alix steel will be back in the next hour. let's get you to a look at the

top stories crossing the terminal at this hour. officials at washington's national zoo have closed part of the panda habitat to the public. the old female panda entering the final stage of a possible pregnancy. being really sensitive to noise. visitors can still see the other pandas outside. russian president vladimir putin added again come at taking a -- and another one of his well-publicized exploits, putin went scuba rising and brought up ancient greek pottery charts. they were planted for him to find. nbc universal looking for the secret to attract younger audiences. it's investing to an million dollars in -- $200 million in

buzzfeed. the two companies will explore partnerships. mediavested in vox recently. i want to bring in paul sweeney who joins us from princeton. how does this lineup with nbc and comcast's strategy overall? missed out on its big acquisition of time warner cable. they're looking to double down in the cable business. they have stepped back from the m&a environment but have recently reemerged a little bit, focusing on digital media. vox00 million investment in and now the investment in buzz feed is indicative of what they are tentative. they are trying to target the younger demographics who are getting more and more of their content online.

is trying to get some greater exposure to digital advertising, the fastest-growing advertising stream out there. scarlet: in terms of digital media's profitability, how much money is nbc getting? paul: a lot of these companies are in a very early stage. vox has established themselves well, in the news business, very big audiences and the audiences are growing. they have put a lot of video on their sites. thene video advertising is fastest-growing form of advertising on the internet. if you are comcast, will you would be considered a traditional media company, they are starting to place their bets out on the table in the digital world. really focusing on news,

information and vox and buzzfeed are two of the leading names. scarlet: will there be overlaps with video from nbc and cobranding? paul: absolutely. if you are buzzfeed, what you really lack is access to some of the content, video content the traditional media players have. to the large audiences that some of these large media players have. -- thehe digital media majority of the users and economics are on the traditional broadcasting cable networks where comcast is very strong. ,ou will see both companies comcast and the recent acquisitions really tried to cross promote their content. scarlet: are these kinds of acquisitions enough to sway

investor concern over the selloff earlier this month after viacom reported disappointing numbers? people started to question the viability of their business model. paul: i don't think these types of smaller investments will do anything to change the narrative in the marketplace right now, investors are trying to reprice what they think the growth rate is for these large media companies as they deal with two major challenges. number one, the shift of advertising dollars from broadcasting to the internet. this whole concept of cord cutting, people -- fewer people paying to order dollars a month for a big bundle of cable channels -- $200 a month for a big bundle of cable channels. investors are trying to get a sense of what is the pace of this change from a bundled world and how much it will impact the growth rates of

these companies and that's what the market is triggered a sense of now. points inative data the stocks sold off. joining usul sweeney from princeton. thank you so much. coming up, the retro resurgence of the airstream. why the rvs are making a comeback. ♪

scarlet: what was old is new again. that appears to be the case for airstream. 70 people buying air streams, the company is selling five times as many as it did back in 2009. -- so many people buying airstream's. this old $3.5 billion worth of recreational vehicles last year. -- they sold $3.5 billion.

what were you most surprised by when you dug into this story? >> i started seeing them everywhere. and and offices building will have an airstream to the side. they were selling like gangbusters. i talked to them and they said two things are happening. people are using them for alternative uses such as food trucks and homes they rent on air b&b for extra money. using them ase classic trailers to take vacations. scarlet: a smaller proportion of people road tripping with them. is there a generational split in who uses rvs for what? >> the traditional rv, mobile , a big still the retiree

clients.irstream's yet people in their 30's buying them to take trips. you also have people who are using them to start mobile businesses. there are mobile bookstores, food trucks, mobile recording booths. scarlet: you've got the ceo of zappos who has one as well. was airstream surprised by the resurgence? >> they are taking it in stride. they like the sales, but they are cognizant of the fact that part of this is a bit of a trend. authenticity is a big thing right now. airstream is turn to grow but at -- left at a place where

they don't have a factory that is too big. they are trained to find the right balance. scarlet: thank you so much. the article is available on bloomberg.com and the latest issue of bloomberg businessweek. , speaking of wheels on the road, the future of your car is likely not being built around the engine, but the maps that will navigate it. ♪

scarlet: it is new in san francisco, 3:00 a.m. in hong kong. alix: this is bloomberg market day. scarlet: a disappointing

forecast, but our investor concerns overblown? alix: one thing standing in a way of hillary clinton come herself. how she is giving of the candidates a wider opening. scarlet: and dumping stocks -- how will it affect tech shares? good tuesday afternoon. i am scarlet fu, here with alix steel. alix: let's look at markets this hour. you are looking at the s&p trading around the lows of the session. still not that much movement. we are stones throw away from the record high on the s&p. we saw a little bit of a club back around 2:00 when energy stocks came back but could not hold any kind of momentum there. on, it: come