fed will not raise this week. scarlet: one of hillary clinton's top fundraisers meets with joe biden as poll shows that she is losing ground to bernie sanders. betty: airbus, taking aim at knowing's home turf. -- boeing's home turf. mobile, alabama. ♪ scarlet: good afternoon, everyone. i'm scarlet fu. betty: and i'm betty liu. thes get a look at how markets are trading at the moment. we are bouncing around the lows of the session right now. investors are not sure what to do it in anticipation of the fed this week. the dow is down by 71 points. scarlet, you have got an interesting take on the markets. scarlet: to your point on how

investors do not know what to do ahead of the policy meeting on wednesday an announcement on thursday, come take a look at the current volume by sector compared to the last 28 days, trading across all sectors is lower than average by 20%, although it is notable here that lowthese bars it is less than the other sectors. energy and materials are seen trading off by 20% from their 20 day average. as oil prices continue to falter on disappointing chinese economic data. speaking about that, oil prices and where they are trading, bouncing around the lows of the session, nymex crude is down by 2%. opec is coming out with some news this morning saying that they are trimming their estimates because of the supply situation outside of opec.

of course, as we have seen here in the u.s., our stockpiles continue to grow over the last year, up almost 7%. let's take a look at treasuries. gaining, higher prices meaning lower yield. the thinking right now as we mentioned is that the federal reserve will not raise interest rates this week because of the increased volatility in capital markets. there's also no economic data to trade-off of today as well. a final check on currencies, you are seeing a weaker dollar versus the yen in particular. basically little changed against the euro. withuro, weaker slightly currency volatility remaining high. all right, in the meantime let's get a check on the top stories at this hour. volkswagen plans to take advantage of the weaker euro. in an exclusive interview the chairman of one of the world's top automakers spoke with hans nichols at the world's top auto

show. >> you know how the world economy goes. sometimes it is too low, sometimes too high. ourre trying to manage production and localization of components to uncover less from these currency risks in new mexico, china, and russia. brands include audi, bentley, and lamborghini. there will be a new prime minister and australia. becomemer manager will their sixth leader in three years. he defeated tony abbott. managementabbott's of the australian economy. betty: the vice chancellor in germany says that the country can expect one million migrants this year alone. it appears to be breaking down there policy.

germany is bringing back order ago.ols abandon 20 years the former supreme allied commander of europe tells bloomberg and there are sound reasons behind the change. >> you have to do it safely in terms of security, which means betting. i suspect a temporary closure is to facilitate a better vetting process. use biometrics, data searches, social networks, look at cell phones. you cannot do that with 10,000 people per day, so you slow the flow down. that's how we do it safely. betty: slovakia joined germany in opposing checks at the border. the pentagon is trying to thermine whether to cancel last of three ships being built by general dynamics. the catch is that it is already under construction. a $22being built under billion contract. hasshipbuilding program

strong support. scarlet: a private equity firm has agreed to buy salerno holdings. represents partner a 13% premium to the last close. the dallas cowboys are the world's most valuable sports franchise, putting their estimated worth at $4 billion large. the cowboys have long been the franchise,le sports topping the list for the first time since 2007. list, the yankees and the patriots. the owner of the cowboys bought the team for $140 million. i'm surprised. betty: first of all, that's a huge return. second, these guys do not buy teams to make money, right?

fun.buy teams because it's bragging rights. a couple of billion dollars? scarlet: no one is complaining. those are your top stories at noon, eastern time. recent market volatility has investors wondering if a recession is coming. bloomberg has been crunching the numbers. thelet: the date -- betty: data shows not yet, but if we see further declines, we will watch out. a bear market decline preceding a recession 10 out of 13 times since the great depression, i want to get more perspective on the markets from nick, the chief market strategist at converge ask. would you say that it is -- converge x. would you say it is too early to determine now? does shows, but it concerns about economic growth and potential deflation. there is a host of worries here and in places like china about slowing growth that investors

should take to heart. scarlet: there is a lot of concern, uncertainty, and lack any one view.in which asset is driving everything? oil? driving concerns over deflation, but i would go back to the market as the central asset to focus on. if you think about the fed raising rates this thursday, december, or sometime in between , bond markets will be saying one and done or one and close to done. they do not have a lot of confidence in the economy, which speaks to earnings growth and the attractiveness of equities over time. betty: something like 30% is what they now think the fed will move. do you think they will move? nick: i think that they should move, but they probably won't. the chorus against a move has become so loud it will be hard to fight. betty: if you come inside -- scarlet: if you come inside the

terminal here, you have what betty was referring to. moving 41% in october, 57 percent in december. betty: that is lower than what we saw this morning. now it's 28%. scarlet: for the october meeting, is there a chance that the fed could move them? most are talking about december. scarlet: -- nick: the magic is behind the press conference. everyone believes that chairman yellen will want an explanation on what the fed is thinking about. scarlet: which goes away with an october move. betty: that's right -- nick: that's right. the purposes of needing to do a rate hike in october that you did not know about in september seem remote. betty: even if 28% do not believe the fed will move, that does not stop people from coming out with list. what should you buy, what should you sell in case the fed raises rates. let's bring up a list of some of

these stocks. he says you should be owning chipotle, dollar tree, pepsi, blackrock, google. if the fed raises rates. what you should not be owning, because they have a lot of floating rate that, ebay, metlife, coca-cola, g.m. -- the list goes on. would you agree? nick: the fed book in this cycle is established, you want to own growth stocks. the signal is that the fed has confidence in the economy, filtering from revenue growth to earnings growth. on the flipside, you don't want to own cyclical stocks. they want to put a damper on the economy over time. those value cyclical stocks do not tend to do as well. a very well established playbook. scarlet: when you look at companies overall have we reached a point where companies have peaked? i know that you included the

operating margin in your assessment. down from 9.9% in the first half of last year. it has been worrisome, frankly, the decline for not just one year, but two years. the peak was in 2013, that has put a real cap on earnings growth as well. we did not seek earnings growth in q1 or q2. we are really banking on q4, in other words we are banking on technology. betty: why? are two factors. consumer spending around the holiday and the budget/from corporations looking to spend their budget dollars on technology -- budget flush from corporations looking to spend the budget dollars on technology. scarlet: we will look ahead to that. there are seasonal factors, of course. it is football season. we had our first full weekend of football games. any huge surprises?

you put out the super bowl report every year. nick: the early take is that it will be a fantastic season. we do this annual survey of bucket list inflation, super bowl inflation. every year since the recovery began it has been double-digit increases in bucket list inflation. this year, because it is the 50th super bowl, i think that anyone turning 50, male or female, will want to be in the big game. scarlet: people like those round numbers. [laughter] betty: are you saying that football is immune to global headwinds? nick: it is. there are fixed number of's -- of seats and more people than that want to go to the game. scarlet: especially if they are turning 50. [laughter] nick: we have clients in every town in this country. we don't pick favorites. [laughter] betty: you have been very diplomatic.

nicholas does not want to dissuade anyone. thank you very much, nicholas. liveus on thursday for coverage of the fed decision. we have is eshelman report set for 2 p.m., followed by janet yellen. betty: on wednesday join us for a prime time edition of "bloomberg surveillance," at 6 p.m. wednesday right here on bloomberg television. ♪

good afternoon from midtown, manhattan. this is "bloomberg market day." it,y: it doesn't look like some are ending. when it looks like that. -- summer ending. when it looks like that. we are at session lows? quite a report from china

revealing than industrial output missed expectations. numbers are down 6/10 of 1%. you can see that it is the same in the percentage for the dow as well as the nasdaq. investors also have their eye on a possible rate rise. one technical that i want to tell you about, for the ninth week right now, it has reversed direction from the previous week , this has happened nine times over the past nine weeks but only three times in the past 20 years. dive with me into the bloomberg terminal and look at the function on your own terminal at home. you can see nine of the 10 sectors here are in the red. materials and energy are the biggest laggards. this is in part because of that china data utilities bill holding things up as investors are looking for some yield with

utilities up by one quarter of 1%. let's head over to the tech world and apple. apple is marginally higher, three quarters of 1%. on whose -- this is on the news from apple that they are on pace to break the record of 10 million phones in the opening weekend. this year 12 countries will get upiphone six s and s plus, from 10 countries last year. iphones are of growing importance to apple. revenue inut 66% of handsets last year. drug and consumer products giant johnson and johnson is moving today, up by 7/10 of 1%. it is wondering about what to do to invest its $34 billion cash pile. it might be a new m&a deal according to lawrence beagle's and. -- beagleson.

maybe two areas of focus for new acquisitions and beefing up a drug pipeline always on their agenda. finally, go pro is rising higher today. 4.6%. ,p over the past five weeks saying that the go pro content ecosystem make it a compelling target for apple. pro plans to go head into the drone world. always a buzzing topic. back to you, ladies. betty: interesting. now you will get lots of action from your drone. mean thatill that skiing, mountain biking -- it's already really dangerous.

betty: yes. scarlet: let's get you to a look at the top stories at this hour. -- bringingng someone on for its car unit. previously worked for ford. their auto driving project has already logged one million miles in tests. betty: facebook is looking for at support for 360 degree video to allow bit -- viewers to change the way they see the video by tilting the phone. mark zuckerberg has called virtual reality the next big computing platform. scarlet: if he -- if you oh the irs over $100 million, get your check in the mail. to send at least two checks starting next year. 14 checks were written for that amount or more during the recent tax season. those must be processed manually. i guess so. if you oh that much, would you

put it in a check? scarlet: if you have to transfer the money and get charge for the amount? betty: that's true. the united auto workers union chose fiat chrysler as a target for their contract negotiations. we will tell you why the union made the unusual choice of picking the weakest of the big three automakers this year. sit it out, paying the highest rates in new york city history. what does it say about the commercial real estate market? coming up on "bloomberg market day." ♪

scarlet: welcome back to "bloomberg market day." breaking news, credit squeeze -- credit suisses in a settlement over dark will trading according to people

familiar with the matter. few weeks toll a go before we get a number, but the number that is being negotiated right now is 80 million dollars. the fcc and new york attorney general are said to be in discussions with credit suisse. in the meantime, those shares have been down all day and currently are lower by 2%. betty: looks like near the session low. in the auto world a surprise in detroit as the united auto workers union chose fiat chrysler as the target for the contract negotiations. a choice that bucks tradition as they typically choose the strongest company to negotiate with. thelet: fiat chrysler is least profitable of the big three. big question, keith, is why chrysler? keith: this was a sunday surprise.

we think that chrysler was chosen that because it is the smallest -- though it is the smallest, a have a number of thorny issues to wear out. -- workout. companies want to cap on them. that is an issue that you can address that are at chrysler than the other two. essentially they are the to crack.t -- nut hopefully the others will fall in line. betty: what is the state of affairs with ford and gm? they are bored -- keith: they are both more profitable. whatever they agree to it is likely that ford and gm will be likely to afford. if you flipped it they make have had -- they might have had problems. if you go in sequence it might be easier for them to put a contract out and ratified. scarlet: what do we know about

how the ceo might approach this? how does this factor into his position? keith: that is a huge wildcard. he essentially put out the for sale sign and said that they cannot go it alone and would like to partner with gm. he is looking for a merger partner and it does not seem likely that the fiat chrysler that we see today will be the same one that we see four years from now. it is a question of how you can negotiate for a country that is -- company that will not be the same at the end of the contract. betty: what about sergio markey ione? he is not going to the auto show. what does that tell us? keith: he will be as he always intoery hands-on getting

these negotiations. do you remember four years ago? the uaw would not meet with him. he shot off up pointed -- shot off a pointed letter. he likes to do the work himself at the table, negotiating with dennis williams, president of the united auto workers. mountain, thank you for joining us. this is a curious choice for the uaw to choose chrysler. betty: but it makes sense. scarlet: you want to be in the best position possible. atty: it certainly seems like good strategy. particularly with how weak fiat chrysler is right now, it makes perfect sense for them to turn that around, but hey, we will see. those negotiations are never easy. scarlet: they tend to go on longer than anyone anticipates. that is it for me, betty. what do you have coming up in the next hour? betty: donald trump. [laughter] scarlet: it's like you cannot

turn away from this. know, he's tv i gold. coming up, the cnn says they are tired of it. scarlet: so they say. betty: so they say. also, vice president biden and his big secret meeting in new york with someone that we know well. robert wolf. coming up next. ♪ >> we lose everywhere. .e cannot beat isis give me a break. we cannot beat anybody. our vets are being treated horribly. it will change. we will have so much winning if i get elected that you may get bored with winning. ♪ the only way to get better is to challenge yourself,

and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20.

it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. bloomberg "market day." i betty liu. deutsche bank reports it is

planning to cut staff by about 25% according to reuters. in technologynly and operations. it may use the sale of the german lending unit to lower the headcount. the move will bring the total workforce down to about 75,000 people. the job of cleaning up international soccer is far from done. that is the word from loretta lynch. fifapdated the organization. investigation remains active and ongoing and has in since may.ed as i made clear in the original announcement, the scope of the investigation is not limited, and we are following the evidence where it leads. i am grateful for the sick advocate corporation -- significant cooperation and advanced materials. we do anticipate pursuing

additional charges against individuals and entities. the u.s. prosecuted 14 individuals in may. a $150 millionis scandal. donald trump is getting out of the beauty pageant business. he sold the franchise. the gop candidate became sole owner of the pageant after buying out nbc universal. they had a messy breakup after disparaging remarks about ofican immigrants and terms the deal were not disclosed. of any attention, reports active shooter on the campus of delta state university in cleveland, mississippi. on lockdown. multiple law enforcement agencies are responding. stay with us for details on this developing story. that is a look at the top stories happening at this hour. back on politics, the big secret meeting, joe biden with a money

manned. this is robert wolf, former the company cfo of who publicly committed to raising funds for hillary clinton. what does this mean that he met with biden? i want to bring in phil with bloomberg politics. this meeting was not on the schedule last week come as something he did on the side, right? phil: that is right. had it been on the schedule, it would have set off the gossip mill for sure. our colleagues reported that it happened set it off even further. here is why. robert will one of the top bundlers for barack obama, bringing in or than 200 thousand dollars in 2008 in 2012. that is a big number. he is already donate to hillary clinton. if he wants to make a move and be a legitimate candidate when he hops into the race, not only does he need money, but he needs to flip the democratic money away from hillary clinton.

his willingness to have been meeting behind the scenes with a top obama donor who has publicly supported hillary clinton mean something big, and it means he is moving further along in the process. still, when you talk to people in joe biden's orbit, they say a decision has not been made. he is trying to see what is out there. obviously another step in the direction, but by no means says he will step in. when heow can he help has already said he is supporting clinton? legal contract. this is an interesting thing you will see happen right now. i went through the 248 top bundlers to president obama, those bringing in more than $500,000 for the president. of that group, more than 130 have not committed to hillary clinton yet. --ig window for president vice president joe biden to go after. many of them have not committed

to bundle. they gave a check, but they are not trying to go after the same money they were were president obama. that creates an opening, and that creates a group of people that might be waiting to see someone else get into the race. speaking of hillary clinton, it has been well documented in the past 24 hours that she is losing some more steam according to the latest holes. iowa, she is 10 percentage points behind bernie sanders. past 24 hours she is losing some more steam according to the latest polls. what is going on here? phil: 10 points down in iowa. hampshire,ok at new a neighboring state for bernie sanders. he is up by 22 points in new hampshire. there is reason to be concerned.

not in new hampshire. she has put a lot of effort into iowa early. there is some concern that the numbers would stay above 50% would stay in that the sanity. nationwide lights and still has solid numbers. you talk about biden and whether or not other democrats want to hop into the race, they the weakness when you see bernie sanders being able to make this move. no doubt about it, hillary clinton not only has a fight on her hands but in danger of losing those races. when you talk to campaign operators, one area they do think they can make up, south carolina. hillary clinton still with a 20 plus point margin over bernie sanders and joe biden if he gets into the race. betty: who is she losing? phil: what is interesting. we are trying to parse out the numbers. voters, and really due to lack of an therapy -- enthusiasm. bernie sanders message is resonating with them.

in the bloomberg politics poll in iowa that showed bernie sanders move a couple of weeks ago, 98% of bernie sanders votes were not supposing him because they oppose clinton but because they supported his economic message. that is the message the clinton team is trying to get their head around right now. how do you make hillary clinton's message, which is not all that different when it comes to policy from bernie sanders, resonate the way it has?-- his has? also, it also mention women voters are becoming disinfected i her message-- by her message. speaking of surging in the p olls, donald trump is surging. interesting enough that ben carson is catching up. how does this set up in the debate? phil: round to.

72 percent of the entire electorate, democratic and republican likely voters think politicians should not be trusted. -- round two. .herein lies the reason when you look at the candidates, they could not be more polar opposites on the way they operate on the campaign trail. donald trump very proud of who he is. very willing to tell everyone there terrible and wrong if they disagree with him. then carson very much the opposite. -- ben carson. neither of them are politicians. that is appealing in a way that no other established politician has. the same thing carly fiorina bringing to the table. her ability to get onto the debate stage, going to be a lot of fireworks. betty: that is exactly right. if you are in politics, big black mark against you, at least so far.

donald trump being able to deliver television. . lay some of the jimmy fallon moment. some of the jimmy fallon moment. i me interviewing me is what call it great idea. >> of course it is a great idea, we thought of it. betty: great idea. best rating in 18 months. what does that do for donald trump? phil: it hits a different audience for him. the appeal for donald trump on some level is he is in on the joke. he knows he is who he is. it is not as if he is missing the fact that people mocked him for being the guy he is. when you see his ability to hop on all of the shows, and without any other question the candidate who can be on tv at any moment he once, anytime he wants, and ratings for the show, that brings numbers. it is not the fact that his message is appealing, but his name resonates.

then people look into his message and like what he has to say. all of this is leading into his numbers right now, and that is a huge advantage. other candidates cannot get the attention he can get. theyrustration level that cannot get the attention that donald trump is getting has reached a peak, they just don't know what to do and how to counter it. betty: are we getting any indication that americans are getting tired of trying's -- tr message and starting today deeper to question if he has the ability and qualifications to be president? for theery indication numbers falling off the table do not show up. the topline numbers are great if you look pretty much across the line. the washington post poll in terms of people disillusioned with politicians in general, in that same poll people that trust donald trump 60% say no.

people that believe he would be a good leader 55% a no. nationwide his numbers are not great, but in the republican electorate, the primary system, the only target people need to care about right now, donald trump is going up and up. if anyone can figure out how to make him go down, i have a lot of republican operatives i talked to on a regular basis that would like their number asap. betty: that would be worth a lot. thank you. phil mattingly of bloomberg. make sure to watch this wednesday for a special hour-long show on the gop debate. right here on bloomberg television. "market day" is next. ♪

betty: welcome back to the bloomberg "market day." i am betty liu. going to ramy inocencio or the

big three of the market day so far. we are bouncing off of the lows of the session, right? ramy: that is exactly right. markets have hit the session lows. hernd the world because of report out of china over the weekend revealing industrial output miss expectations. --because of a report out of china. investors are waiting to see if the rate rise will happen. leading to investor caution and volatility. across the board we are down by about half a percent. take a look at the s&p 10 sectors with the imap function. right now we can see 9 of the 10 sectors are lower. materials, as well as consumer discretionary, and health care leading the pack. health care down the most, in part because of the china data i told you about earlier. utilities has been in the green for most of the day as people tried to get a little bit of yield. looking at commodities.

oil is dropping, dropping for the first time in six days in new york. by next crew down by 1.6%, in part on concern china's slowdown will deepen. crude down. that could pull prices to 20 $20 per barrel. oil and gas stocks falling on the news. by 2.1%.ergy down all as gas and oil stockpiles may reach a record as we head into the winter. moving on ahead, and i want to talk to you also about copper. thatr is also falling, and after the week chinese production. metalis the world biggest consumer. -- and that after the weak

chinese production. copper down 2%. 2% there. nearly moving along with volatility, investors are pushing into treasuries for at least a little bit of safety. the yield is off of it session lows, but still down by one basis points to 2.18%. with regards to a fed rate rise, futures hike shows the author of an increase this month have dropped to 30% from 48% a month ago, according to data compiled from bloomberg. that is a look at them market, commodities, and treasuries. betty: less than 30% that the fed will raise. thank you. a look at the top stories. this story, delta state university on lockdown following reports of an active shooter on campus. one the talent he has been confirmed. in a twitter post, students and to takebeing advised

shelter. the university is located in .ississippi's delta region the former traders sent to jail for breaking a key interest rate is appealing his conviction and sentence. tom hayes was found guilty last month of manipulating libor while working at ubs in the group. he is serving a 14-year term. -- muston judge must decide whether to let the appeal go forward. preorders for the iphone 6s and 6plus are called exceptionally strong. apple says they are on pace to go over 10 million in the first weekend. byt would break the mark set the iphone 6 last year. that is a look at the top stories at this hour. rent or luxury office holdings surging in midtown manhattan. -- rent for luxury office midtown'srging in

manhattan. sit it out just -- citidel just broke record. -- citadel. joining us now is mark crumpton. i think it is the penthouse view. mark: we're talking astronomical figures. that figure, 300 per square foot, 50% more than the previous eak in new york city. when i was reading this, one thing that crossed my mind is this sounds like a lot of money waiting on the sidelines deciding this is the right time. this is also in conjunction with moves by the fed and what the might do to interest rates and how that might impact if you lock it in right now. betty: you are exactly right. i believe it is around $80 per square foot in the city. this is almost three times as much. it clearly is prime real estate,

but i think it is interesting because it speaks to how we hear about financial firms and the layoffs we just heard, deutsche bank cutting 25% of the workforce, but we are adding jobs. mark: financial services toustry seems to rebound -- have rebounded quite nicely. one part of the story, it says an example of how good the times are for the financial sector's elite bill ackman's name came up. apparently deciding to buy the office building 787 11th avenue with a price tag 255.5 million. levels ofo build two new office space on top of the property and at a private rooftop pool and tennis court for himself and employees. that is not too bad. betty: what other amenities are there left? i don't know. mark: here in new york city,

they are expanding the subway building a side and lot of properties on the west side, because they need to get all of these employees to work. if you are familiar with new york city, that walk across town can be a very long walk. it is easier to walk north and south and it is east to west. now they are accommodating those employees. we may see rent go up over there as well. betty: i will see you in the next hour. much more ahead on the betty: bloomberg "market day." toer the break, heading mobile, alabama, for a look at the playmakers first factory in the united states. makers first factory in the united states. ♪

betty: bloomberg "market day." welcome back to the bloomberg "market day." -- welcome back to

the bloomberg "market day." unveiling the first factory in the united states today. this is in mobile, alabama, and cut costs andlp boost sales. >> this investment was strategic one to be industry --industrially strong. to be closer to the customers. then of course we are looking at overall competitiveness. after the learning curve costs, we believe this assembly line will be globally as efficient as the european ones. we would have looked at the." cost efficiency with locating investment in mexico. we want this to be strongly present in america. you still have an

opportunity to invest in mexico. you will have -- you will build production. 48 planes per year here. you will be selling 100 or more in the u.s. markets. is there room for expansion? >> there is room for expansion here. here inn -- matt: mobile? >> absolutely. we're the only ones with lines outside of the perimeter, which is europe. we are in china and mobile. this is quite difficult to manage. we moved to around 50 aircraft per year at the end of 2017. there is extra potential depending on markets. betty: i want to go straight to matt miller who is in mobile, alabama. clearly they see a lot of opportunity. how many jobs will this investment creates in alabama? are upy the times they

to full production they will have 1000 people working in this factory alone, airbus employees as well as contractors and subcontractors putting the other anes like this one behind me. this one slated to go to american airlines. another one going to jetblue. eventually they will be building at a time in this building. 48 per year, adding to the global production, and that will help them meet demand. they expect demand in the u.s. to be big . 47 aircraft. airbus gets 60% market share from the single aisle aircraft. the biggest market in the u.s., so it should be a decent amount of employees adding to the 3800 they have here. betty: a fairly decent amount.

what about other investments? did he talk about where else they may be going for growth and where else they may be putting? --maybe putting their money? military one thing the side of the business. space and defense are the guys that first looked at this spot in mobile, alabama, because they actually got the contract to build u.s. air force thinkers in the sky for the ad-3-30. they already found this site, placeought it was a good to put commercial aircraft. they still have the ability to build commercial aircraft, and they can double the amount of land that they have here. if they got another military a47, theysay for an could build that here. much. thank you so

matt miller in mobile, alabama, talking about the new factory from airbus. much more ahead on the bloomberg "market day." toldolkswagen chairman bloomberg how the automaker plans to take advantage of the weaker euro. that interview coming up in just a few minutes. stay with bloomberg television for more on bloomberg "market day." ♪

betty: it is 10:00 and san francisco, 1:00 in new york, and 1:00 a.m. in hong kong. with after theks

biggest weekly advance in july. markets waiting for the fed interest rate decision thursday. betty: shares of apple's after the company says the sales of the iphone on pace to break the record of 10 million units sold last year of the iphone 6. volkswagenhairman of says how they plan to take advantage of the weaker euro. ♪ betty: good afternoon. i'm betty liu. mark: i am mark crumpton. thank you for joining us on this monday. u.s. stock market drifting lower concern on wall street and global markets what the fed is going to do on interest rates on thursday. a check of the screens on wall street shows all of the major outbreak -- major averages down over half a percent. dow