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tv   Bloomberg Markets  Bloomberg  April 1, 2016 2:00pm-3:01pm EDT

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>> from bloomberg world headquarters in new york. matt: here is what we are watching. stocks higher on this first day of the second quarter. star -- strong reports boosting the market. consumer and health-care stocks leading the game. lisa: crude oil erasing it gains for the year. the saudi arabian crown prince says it will cease production if iran follows suit. in a close interview with the prince, including his plan for a $2 trillion mega fund. matt: tesla unveils the model three. gm, ford, chrysler all missing estimates. toyota posted a surprise drop in sales as the auto market.
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markets are two hours away from the close. julie has the latest. julie: it looks like we are around the high for the session i what is in a relatively volatile day. things bouncing around after the job reports. the nasdaq leading gains. the readas though now on the jobs report is relatively good. coming in above estimates. the unemployment rate gained, which was not expected. all this equaling a gain. matt: the read on the jobs report was positive this morning and it is positive now. julie: it's just that energy weighed. on it too much matt: if you take an interest increases coming forward, maybe want to sell equities? julie: right, but his that was true this morning, why isn't it true now? i'm notm just saying sure that the reason i think we are seeing stocks gaining right now.
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you cannot just tie the moves to one reason. julie: fair enough. that is the big news of the day. the dow fell 117 at the low by 76and is now recovered point. i relatively broad one today. the two best performing arts you with the best -- are two of the best, visa and mcdonald's. buy the it's time to stock because it's getting closer to the closing of its acquisition of visa europe. bernstein says it will be a positive. mcdonald's rising. jpmorgan raising its price, talking about the change in structure of franchisees in asia that should increase free c cash flow. matt: and there is almost no movement in the dollar? youe: not right now, but if
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look over the course of the day you will see dramatic swings. it has a big spike up following the jobs report. then it comes back down. right now, if you just look at the snapshot in time it would not tell you the full story of the day. gold prices have remained pretty consistently lower. they are bouncing off the lows. down 1% following the jobs report. oil prices have a more to do with saudi arabia not being willing to freeze production unless all of opec does so and a ron -- iran says it will not until he goes back up to historical levels. lisa: matt is now done heckling julie. let's get a check on the first word news. >> please of michael me. -- heckle. scottsin governor walker taking the place last summer and he is not backing off his warmest use of the republican presidential nominee,
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no matter who it is. he spoke with "all due respect." >> when i was on the state back in cleveland i did not raise my hand. i was notelse said going to run as a third-party. i was not going to support anybody else. i hope the nominee after tuesday's win for ted cruz is ted cruz. makes it a whole a easier for me to do that. i am a man of my word. i have not changed in that regard. >> volcker has endorsed ted cruz. you can see all the interview with governor scott walker on "all due respect." goes to lawama school next week to push his nomination of judge merrick garland. he will go to the university of chicago. the president taught at the university's law school before being elected. saysum's prime minister
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the brussels airport can reopen. authorities are still living passenger flights can resume on a limited basis soon more than one week after terror attacks killed more than 30 people. brussels police unions are demanding checks of passengers at the entry of a temporary check-in area. the world health organization says a new ebola case has been confirmed in liberia. is the first case since december. they comes days after officials said the outbreak no longer qualifies as an international health emergency. the deadliest outbreak killed more than 11,000 people, mostly in sierra leone, liberia and guinea. global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. lisa and matt, back to you. matt: let's get back to the big economic news. the u.s. jobs report shows employers added 215,000 workers in march, that was better than forecasted.
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the unemployment rate rose slightly to 5% as more people entered the labor force. that is good news. the participation rate rising to 63%. average hourly earnings 2.3% over a year ago. lisa: bill gross told as the job numbers may incur as members of the fomc to encourage a rate hike in june. bill gross: they realize they have to normalize interest rates to the extent they have an opportunity in terms of higher wage growth, an opportunity in 200,000 plus jobs. jim looks like a likely month to do one of those two hikes. lisa: here with us we have michael purvis, chief global strategist at wheaton. thank you for joining us. d think this job report really moves the needle? gross'point,ill
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the futures market did sort of reflect that. he saw a spike in the probability some about 20 to the 26th of june. int: more than 50% november, now it's more than 60% in december. twofutures are pricing in rate increases this year, where early this morning they were only pricing in one michael: it was decisively lower. it was another solid b plus for today's market. you had continued resilience in the wage inflation which is very important. i think this concept of his reservoir of workers coming into the workforce as wages increase is pretty well understood. i am going to guess that yellen or her colleagues are not too worried about the math of spiking wage inflation at this point.
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i think the table is more set for june or september or november hike than it was earlier. i want to make an important point. it doesn't really matter that much. the real question is -- you heard with bill gross just said. the one thing that really moved in the market, rates in the dollar did not move. activities -- equities are slightly up from the day. moreis getting more and alive everyday. matt: the market thinks yellen is dead set against a move. we have headlines coming across the bloomberg terminal. she says we don't need to look for all the data points to lead a person great -- line up perfectly. piece ofg until every data lines up in the correct weight means waiting too long and risks having the race move up more aggressively in the future with negative impacts on the economy.
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for stalling rate increases for to lock in light of financial market volatility that does not affect the outlook may simply affect more volatility in the future if we find ourselves having to increase rates more aggressively than anticipated to achieve our goals. matt: president of the federal reserve bank of cleveland. that is the most recent hawkish note we have heard from that governors. we have heard a lot from others as well. maybe the market thinks yellen is so dovish she will not let anyone voice a hawkish opinion. michael: you heard that earlier this week. i think what happened in the march fomc was hugely instructive about the fed taking in global considerations. the dollar is the mechanism. by definition it has a global calculus and there is still a lot of weakness overseas washing up on shore of ropc and other metrics. this is another discussion.
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what will really be pushing the dollar to a demonstrably higher level? does that mean the dollar versus the euro will be pushing by parity in the on? i think what is happening here, and you saw today, a spike in expectations were june. if the dollar is flat. with the dollar is taking its cues off more and more is yellen's narrative and about what is happening with the treasury bund sprint that is in spread out to decade wides. that is a key factor, as well as the broader global inflation story. lisa: perhaps it is not really matter when the fed hikes next. have the markets response and the lack thereof seen in the dollar, and stocks, in bonds, does it show the markets have moved away from caring with the
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fed hikes next? think this fear of heights is moving away from the market in terms of classic risk assets. maybe yellen will ultimately be dovish when needed. there. fed is very much i think one of the earlier guests this afternoon was talking about how the dollar versus many developed market currencies is wage bound. there may be some similar to the understanding that an agreement that the dollar will be contained. as we get a contained dollar, you will get a contained vix and more constructive equity markets going forward. having --eciate you having you on the program. coming up in the next 20 minutes, auto sales came in a bit like compared to expectations in march. ball flight and down again. toyota -- volkswagen down again.
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is it time for panic? lisa: is the masters the best of it and all of sports? michael linker says it is and he will defend that position coming up. a look at shares of companies and retailers. ♪
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♪ lisa: this is "bloomberg markets ." stocks are rising today. julie has a check on some of the biotech movers. kissedmatt and i have and made up. figuratively. biotech. this is more of a clear-cut situation.
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regeneron is the best performer today. their drug to treat a serious skin condition met its goal in two late stage trials. that clears the trials to regulatory approval. it's important for regeneron eyees on ilia, it's treatment. it is looking to diversify into other areas. that is why see such a big gain in the stock today. it's a member of the nasdaq biotech index, which for the week is up nearly 5%. that is its best weekly performance going back to september. i was looking at some other best performers. it has to do with drug approvals or positive news on particular products. all the biopharmaceuticals had about a 62% gain on the first day of the week, that is after
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the company said its experiment till confusion to prevent migraines that the main goal of a mid-stage trial. older pharmaceutical has been up -- alder pharmaceuticals is up after approval by the fda. that stock is up 41% on the week. you in macro news aside, have some specific stories driving. matt: actual news moving markets. thanks, julie. lisa: tesla's model 3 is already off to the fast start. elon musk tweeted the company has received 198,000 orders. the car was unveiled last night. eight ill is almost yen in revenue already in one day. -- $8 billion in revenue in one day. if it lives up to the valuation
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expectations of analysts and investors. >> i think that depends on the time horizon. it's a stock that trades on a lot of option values. it's a long-term call option. the model 3 is an important car. is the next step in getting them down the price curve and getting that true volume of the mass-market automaker needs. even by 2020 we're talking about 500,000 total vehicles. that is not a lot compared to gm or toyota. >> even if they get to that level, they will need such -- so much capital to ramp up production. where are they going to find that? >> that's a great question and nobody ever seems to think about that. they assume the growth is free. those factories are about $5 billion apiece and they will probably need more simply parents -- plants down the road. they should have plenty of access to the capital markets barring a major lehman brothers-type event.
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which i'm not concerned about. it's just a matter of if they have to dilute shareholders more. alix: they are getting money for the down payment. that is $1000 per car. based on 24 hours of pre-sales, they basically pulled in $180 million. tesla was not profitable when they were selling cars at $100,000. how will they be profitable selling cars and $35,000? >> they are so an automaker, albeit very high-tech and a storage business on the side. it's all about volume. this is the next step to get there. i would like to see more cheaper models down the road with higher range. 215 miles is great for an ev, but compared to a combustion vehicle that can do 500, that's not much. going tohey are still
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be consumers afraid to take the plunge. we are not seeing that yet with all the reservations taking place. lisa: matt: that was david westin earlier on "convert markets." general motors, ford and fiat chrysler him up short of sales estimates in march. they did gross sales from a year ago. joining us from our detroit bureau, jamie butters. thanks for joining us. staying late on a friday, even if he did not shave. what do you think about all the misses. we were focused on jobs and saudi aramco, but fiat chrysler missed. why are they all missing expectations? jamie: the estimates were too high. the sales of the estimates. estimates are high for a reason. analysts don't like to get tricked or feel like they look in the market and the economy and they see a number and they
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get beat every time because automakers dump a bunch of vehicles or they offer a big discount to the dealers that they did not tell anybody about. they can't to plan for those things. after four months of pretty generous incentives from last november, really do president's day, maybe the automakers dialed it back a little and showed a little restraint and some discipline. wall street is not going to assume they will be disciplined in restraint. they expected to sell the cars, make the deals happen. more.they showed a little we will be watching what happened with the incentives in march. i did not see the big 20% off ads we saw in the previous four months. how much of tightening the credit to subprime auto borrowers and prime auto borrowers play into the disappointing sales data?
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jamie: that is worth looking at. -- just likehose with oil prices and everything, we are seeing a lot of tailwinds on the industry. they are less robust than they were last year. gas prices are still pretty cheap but they are not falling by a dollar a gallon. they are not as impressive as they were last year. credit is still widely available. that is the key to selling cars, being able to give people credit you can repay their loans. there is maybe a little bit of buttening in various areas it is not suddenly available or bringing new people into the buying class. definitely something to watch. the people were making those loans have been very confident they are good loans. video ofare looking at a much a jeep cherokees in wranglers. they have been over the past five years big gainers. who are the big winners this month as far as the products?
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jamie: suvs and pickups are doing well. there were some cars that surprised with a good number. maybe those were some fleet deals for some hidden incentives. suv's continue to kill it. ford had a great month for suv's. the jeeps did well, the pickups did well for the ram and have series. -- f-series. we are seeing a lot of reinvestment for pickups by businesses. families really buying the suvs because they are a lot more fuel efficient than the used to be. and fuel is a little cheaper. they like the high ride position. matt: jamie butters from bloomberg news, detroit bureau. have a fantastic weekend. we will take a quick break on "bloomberg markets." we are less than a week away from the masters. i will tell you why i think it's the greatest sporting event in the world. lisa: from cars to golf. ♪
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lisa: next week thousands will have done in georgia for the masters. eds posted the most exclusive golf club in the world. matt has nine reasons why is the greatest sporting event in the world. matt: they stopped for two years because of the second world war. i will not go through all nine reasons. one of my reasons is the tradition of it. it is steeped in tradition. a part of the experience is learning those traditions and understanding how emotionally charged in moving they are. the history of the tournament, the history of the club, the history of bobby jones who .ounded it it is so amazing
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that's a big part of it. lisa: what are some of the rituals? where whiteddies jumpsuits, but they keep them cool in the hot summers. you have the amazing course. this is a club that only 300 people belong to, but they are 300 of the richest people in the world. they have made the greatest golf course in the world, at least the best looking golf course in the world because they can do trees like ice the azalea so the blossoms don't come out until the tournament. lisa: we will get you caught up with exactly what is going on there. ♪ show me movies with explosions.
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show me more like this. show me "previously watched." what's recommended for me.
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in midtown manhattan, i am matt miller. lisa: i am lisa abramowicz. let's check in with rain in a sense he'll. the: barack obama says nuclear summit has achieved substantial success. mr. obama says iran has dismantled two thirds of its installed subterfuges. it will take time for the iranians to reintegrate into the world economy. police india have arrested three officials and detained seven more in connection with an overpass that collapsed onto a crowded neighborhood. at least 24 people were killed, and more than 80 others injured. rescuers cleared the concrete and twisted metal rods one day after the blast. statistics show nearly twice as refugees reached the
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years --he last two last three months. in virginia, the cia best accidentally left most material on a school bus. cia officials say the materials were part of a dog training exercise. they say students were never in danger. still very disconcerting there. 24 hours a day.-- i am ramy inocencio. matt: of course they say students were never in danger. what would you expect them to say? lisa: commodities. matt: all right. commodity markets closing in new york. let's look at the biggest movers. aluminum seen as best week in a most a week. a jump in the factory index eased demand concerns the
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world's largest consumer of metals. wti crude fell today off the back of an exclusive interview we had with saudi's deputy crown prince. he warned saudi arabia will only freeze its output if a ron and other major producers freeze theirs. of course, they do not really plan on doing that. almostnd crude dropping 4% on the news. lisa: more of the exclusive interview with the deputy crown prince. he spoke with john mikel swayed about the creation of a $2 trillion sovereign wealth fund which he plans to launch with the most prized assets. matt: it is part of a broader strategy. john: he sketched out his plan for the kingdom. he has this obsession about moving the saudi economy away
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from oil and raising it around something new, and this $2 trillion fund is an amazing thing. it is enough to buy google, microsoft, the whole lot of them -- warren buffett -- all of those things could go into one thing and they would hae changed to spare. add land, property -- all of these other things. it is roughly twice as big or more than twice as big as any other sovereign fund. nie: given the volatility we have seen and the concerns that they have not done the reforms needed. john: yes. he is pushing on that part as well. he is cut the subsidies. it is a dramatic plan in terms of the economic transformation of the country. tom: all of us are lead don on donaldrgen, --
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juergen. we understand this is a generational change. did you get the tone in your interview, and if it is a generational change, where are they headed? ahn: there is somewhat of generational change. there is an element of a group of mostly young reformers around him who want to push very much the accelerator in terms of change. there will be some people perhaps in the royal family, but certainly people from the religious side that will be suspicious and worried about this. i think there is an element whereby saudi arabia has to change. they were stuck in a situation. editor-in-chief john mikel swayed with tom keene and francine lacqua.
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commodities losing steam. the ceo of the world's largest copper producer says the rebound from the biggest plunge in seven years is not driven by fundamentals, make in market susceptible to further pullback. dane davis from barclays joins us now. from my understanding -- my layman's understanding of this, -- producers can get it out so cheap that they are continuing to add to the glut, and that continues to weigh on prices. mr. davis: i think that is a very real phenomenon. atreleased a note looking supply-side and people were worried when the copper price came down in 2015 that we would see cutbacks on power producers. they would try to bring the market into balance. so far we estimate that around 48,000 tons of supply has been cut out. that seems like a lot until you realize the global market is 22 million tons. what we have is supply
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continuing to be pumped out there, while demand is starting to slow down. --a: what data from china since china is such a big consumer of copper -- what data from china is the driver for the copper market? matt: what index should be look at. lisa: exactly. what target little terminal? china has the shanghai futures exchange. every friday morning -- thursday --ht bedtime -- they release their time, they release new data on how much is being consumed. hugh can get a read -- you can get a read all demand. the most recent data shows there is 388,000 tons and this is alarming because when coupled with bonded stocks, china has roughly 900,000 tons of copper in their inventory system. the price ofh is
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copper determined by the price of oil and other commodities, and people trading them together? matt: what, as the price of oil drops, what i hear is it makes it easier to get copper out of the ground at a lower price. mr. davis: we have to be careful and looked down into what the data tells us. the data tells us that on an immediate basis, it if oil prices were to drop five producers, copper producers do not stand to benefit. they are buying diesel on long-term contracts. in thing to keep in mind -- when there is not a lot of data coming out of china, such as in the month of february when china is on holiday, copper tends to trade with other commodities. when oil recovered in february, it listed copper and commodities complex. now that china is starting to release demand -- data, copper is under strain. the correlations were strong and they are breaking down a little
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bit. --matt: the correlations were strong and they are breaking on a little bit. mr. davis: exactly. matt: what about the correlation to currency. it is not all about the dollar, or am i wrong? mr. davis: the dollar has a big role. march 16 we had a dovish meeting. what happened the next day of trading -- march 17, next full day of trading after the fomc meeting -- copper sort of i 3%. if you get a dovish fed, you get struck a commodity prices. watch the dollar, but also watch the currency -- matt: there is a soft peg. they would be correlated. mr. davis: right. lisa: even the people are trading without data, how much conviction is there -- is trading slow? mr. davis: the way the market works -- matt: they are going in blind? mr. davis: china is such a black box, we have different data
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releases, but anyone who says they know, they are exaggerating. we have to grope in the dark. copper was trading on correlations with other comedies. now that we have entered into this season of the gulf in demand -- the spring months when china starts coming back live, we will get data, and copper will start trading based on what is going on with automobile production, real estate. lisa: real stuff. matt: interesting. you are for joining us. dane davis, barclays commodities analyst. coming up in the next 20 minutes, wisconsin governor scott walker says tuesday's badger state primary will reshape the race. why he thinks ted cruz now has the inside track to become the republican nominee. lisa: apple was found that 40 years ago today. we will look at how tim cook has repositioned the company nearly five years after taking over for
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steve jobs. matt: as apple turns 40 -- here's a look at apple shares since the company's ipo in december of 1980. not a bad investment. ♪
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this is bloomberg markets. i am matt miller with lisa abramowicz. four days to go until the wisconsin primary. the latest polls show ted cruz with a lead over donald trump. a victory by ted cruz could reset the race and set the nomination to a floor fight at the convention in cleveland. lisa: john heilemann and mark scottin spoke with walker, a senator cruz
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supporter. mark: we want to start with when you got out of the race for president. you said clearly you thought some other folks should get out to stop the person you deemed the front runner and have a true conservative. should others have lift -- listened to your advice? governor walker: a plurality only beats a majority if it is dispersed amongst many. welcomed a convention. he said if there was a convention, we would end up with a nominee that is not a current -- in the current field. do you still believe that, even now that you have endorsed ted cruz? governor walker: i thought it the time -- the buzz was donald trump was clearly on his way to getting the nomination and i thought if he did not have the 1237 i did not see any way, talking to delegates and activists here in wisconsin -- if they're anything like that across the country, i did not
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think that if he walked in with a number that was close, that would put him over the top. i look at looking at the momentum in this state, ted cruz wins on tuesday, which i believe he will. i think that is not only important for getting the delegates statewide and congressional -- which i think he can do a good job of cleaning up in the congressional districts -- that is a momentum shift. that starts and down the path toward people saying this has the balls into a two-person race. positionis in a unique to unite the party. you have a group of electorate that have said we had that with washington, we are fed up, i want an outsider. up until recently, i've not think there is a person out there that would say ted cruz isn't an outsider. he is one of the few people that henot just talk that way -- got to washington and did what he said he was going to do. i have never gone after donald trump or any other candidate. it has all been about why i am
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for ted cruz. it is not a default endorsement. leader inhave been a the pro-life movement. wasas asked if abortion outlawed, who would be punished, and he ended up landing on the notion that the woman should be punished. when you listen to the totality of that answer, do you believe he is generally a pro-life person, and you think voters should believe he is generally a pro-life person? governor walker: i do not try to interpret for people. i let voters make the decision. for me, when there is a situation involving abortion, it not horrible tragedy -- only for the unborn child, but for the woman involved in that situation. any of us who are genuinely o-life no it is not about assigning blame, but rather feeling bad about the entire situation, and trying to find ways to avoid that in the first place. --: would you support java
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donald trump if he was the republican nominee? governor walker: when i was on the stage in cleveland i did not raise my hand. everyone i'll i was not going to run as the third party, i would support the nominee. i hope the nominee after tuesday's win for ted cruz is ted cruz. it makes it easier. i'm in and of my work. i have not changed in that regard. i will work my hardest to make sure ted cruz not only wins here, but that that is the turning point when we look back in time and say that is one of the key moments that turned the election the right way. matt: wisconsin governor scott walker there with john heilemann and mark halperin. catch more of their interview respect."due i listen to it on the radio. you can watch it on tv. it is fantastic to listen to as well. before we go to break -- a quick word on talon energy. shares are searching.
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they might be the target of one buyout approach, maybe more. next,loomberg markets talking april fools' day, and hoping we do not fall victim. ♪
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lisa: today marks the 40th anniversary of apple's founding. a lot has changed since steve jobs and steve wozniak started the company. the biggest change might be you is running the show. sam grobart explains how ceo tim cook is taking apple into the future. sam: the time of transition from steve jobs as leader of apple to tim cook was an incredibly charged moments -- very close to his own death, he said to tim cook ion't everant you to ask what would steve jobs do.
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i wanted to do what is right. mr. cook: and here it is. sam: none of the genius that is a treatment to steve jobs would have been able to haen had it not been for the supply built, andtim cook when he started, there was not much of a supply chain. went way into fundamental technologies, so they would be the first in line to get them and they will be made to the standards that apple wanted. the combination of all those things give apple an advantage that to this day, no other have andc companiess hard to imagine ever would. tim: the apple watches the most advanced timepiece ever created. sam: to say cook is not come out with an amazing groundbreaking
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product like steve jobs -- the climate is not ready for that to happen. things like the iphone, the ipad, the ipod -- the right moment when memory became more affrdableprocesses became more efficient, and display technology which the point where you could start to make those products. i would argue right now we are in between the next big moment. he remains the only openly homosexual ceo of a fortune 500 company, which seems shocking, but true. his own privacy was outweighed by the need to contribute to a raising of tolerance. he seems to have moved into other areas as well. he has been very vocal on the aspects of privacy. he has made the company very vironmentall responsible, and he famously said something along the lines of we are trying to leave the world better for our children than it was for us, and
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if you're not instead in us doing that, you should get out of our stock. mr. cook: when you are out in the wild, you will see macs everywhere. they are in businesses, coffee shops airports, and hopefully you're living. position occupies a that no one does. financially better under tim cook than it has, arguably, under steve jobs. he wants to have it so his legacy is not supply chains and product development, but a different way companies can behave in the world and affect real change. matt: that was sam grobart reporting. today is also april fools' day, always a big day for jokes in corporate america, especially in the tech world. google.rhaps even cory johnson has a roundup of some of the best pranks.
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you are going to ghost begin of jokes, here is cory johnson. go, speaking of jokes, he is cory johnson. i fold a few-- pulled few. sony intduci theroton pack, which mit resemble someing you saw -- there was a documentary that came out in the 1980's called "ghostbusters." it was a documentary that featured some time to -- some scientists that had a new technology. some people thought that was entertainment. look at what sony has for us. >> sony corporation announced today that after 30 years of research and collaboration with on. julian holtzman and dr. eg spangler, it has developed the proton pack. lisa: i love it. cory: they did not give us
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pricing, but good to see technological innovation has not stopped at sony. matt: that is a good one for the kids, but i heard there was an adult website prank. i heard you talking about on the radio. cory: the big business of torn cornnhub coming up with hub, and making every sexual pun they could. google -- the google might drop -- one e-mail that lets you stop the conversation and even create that would happen. it actually backfired with people trying to use it and it crash the system and they thought it was serious. lisa: there are some scary consequences -- it was basically a minion dropping a microphone, and the receiver could not
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respond. funeral homes were sending out e-mails and pressing the home -- wrong button, say we are so sorry for the loss of your loved one and the person was not able to e-mail back. somebody did say they lost their job as a result. google saying it looks like we cranked ourselves. it caused more headaches than last. we are truly sorry. you saw others that you like? matt: i haven't seen any that i know of -- it is very likely, since i am so gullible, i have been fooled, and i will not find out until tomorrow. actually, you know what -- i had 1 -- my producer, hilary clark, when i was away from my desk, went on my facebook page and tweeted or posted on my facebook page that i wanted everyone to donate to the hillary clinton campaign.
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so proud of me for a brief moment. [laughter] cory: briefly. i am tied between my favorites -- quickly, google mocking amazon's drones with the parachutedrop thenhereas nflixand hn stos. they did a takeover of the netflix homepage. you can login to see they presented as if they hada john stamos cumentary -- joh stamos the man, the myth, the legend. st too good. lisa: we have to leave it there. thank you, cory johnson. we'll be back next week. ♪
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>> welcome to bloomberg markets.
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david: from bloomberg's world headquarters in new york, good afternoon. --e is what we are watching a mixed jobs report. more americans entering the workforce, but part-time jobs dominate. what does that mean for chair yellen and her timeline for future rates? the world's largest sovereign wealth fund selling its stake in its parent oil company. the first major non-health-care ipo in 201 -- why are companies pulling back from going public. we are one hour away from the close of trading. let's head to the markets desk where julie hyman has the latest. julie: it looks like we are all the highs of the session. we had a day reversal -- actually earlier in the day, a reversal of major averages, whh

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