betty: from bloomberg world headquarters in new york, i'm betty liu. nie: and i'm vonnie quinn. betty: is the dovish sounding fed the only thing to get stocks back to record highs. vonnie: meg whitman on the hewlett-packard enterprise. marketis the u.s. shoe to saturated? -- too saturated? stocks are rallying, but not by

much. ramy: markets are up for a third day in a row come off the 11 month highs we saw yesterday. take a look at these numbers. at 17 976. up at 2117. conflict with the 2130 mark, the record high for the s&p set back in may. at 4972 at the moment. i want to show you what is happening in terms of the s&p 10 sectors. generally a broad rally. material is up the most by two thirds of the present.

percent.irds of a rise in signing a deal with economic asian workers of verizonfor pensions -- signing a deal with the communication workers of america for pensions. norfolk southern, csx and union pacific up nearly 3% here. csx says 2116 is going to be a that sales and operating profit are falling. the cfo said the overall positive pricing environment will continue into later this year. right now, up at session highs, the most in two weeks as well there. let's talk about material

stocks. , up 2.4-3t gainer percent with freeport up the most in three weeks here. i want to show you one other ohing, this is the glc function, the global commodities index. this is what is driving the rise in equities today. gold is up, silver is optimal platinum come aluminum up the most in the month. platinum up up, come aluminum up the most in the month. former prime minister tony blair says he expects britain to remain in the european union. mr. blair acknowledged some discomfort with recent polls

suggesting a close vote. >> i think we will remain. of course, it is a referendum. if you look at opinion polls, it is very close. you have to be concerned about it. mark: blair was also critical of sayingmer london mayor johnson should rely such a major decision will result in economic uncertainty. a bill to ease puerto rico's debt crisis may have a better chance passing the u.s. senate than in the house. the issueoking to get resolved before the july 1 deadline when puerto rico has to make its next big bond payment. the bill would create an oversight board to restructure their debt. sending tovoters women, both democratic women, both- two

democratic candidates ahead in the senate race. tiger woods and he is not playing at the u.s. open next week -- says he is not putting at the u.s. open next week. this will be the third time in the last six years than injuries have kept woods out of the tournament. he tiedot played since for 10th in august. global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. i'm mark crumpton. vonnie: thanks. after lending club called up its -- questions were raised as to whether the lender has the right management at its head. betty: canceling an annual shareholder meeting is a huge deal.

shares are down as much as 3%. they are climbing back a little bit. next guest says the crisis is one of leadership, no doubt. ,oining us now is mike regan who is writing about but those topics, the bond markets and lending club -- lendingclub. what you make of this? have we not learned from our own mistakes? mike: there is a great story on , profits are falling my valuations are about the highest they've been in a decade. -- falling, valuations are about the highest they've been in a decade and we just had the worst job growth in six years. it just goes to show that for a

long time, valuations did seem to keep the market in check. it never got too far ahead of itself. today, we are at this peak for valuations. it's interesting because high valuations don't necessarily kill a rally or cause a bear market or anything like that. it is concern about a recession. deteriorating outlook for the economy and interest rate stocks that cause mass crashes. the perception among investors is the fed is backing off after this week jobs report. the economy,or people are not quite sold on the idea of a recession. you do get this exuberance that sends valuations higher, that's what it would take to get us to a record or much past it. vonnie: you never know about

parallels until after -- it's a very distorted market. talk to us about lendingclub. they postponed the shareholder meeting at the last minute. the stock suffered. surprising news coming later last night. ceo might try to take the company private. he is looking for investors to buy the firm out. stock is not putting a lot of faith in his chances of being able to do that today. it is down to flat, suggesting they're not confident he will be able to pull off a takeover of the company. how they got into this mess centers a lot around him. questionsre's also about the acting ceo.

ate: my column was looking is this guy the right company that is the right guy to turn -- is thisy around guy the right guy to turn this company around. marketing is not what they need right now. he did a good job growing this company, growing demand for loans. they have to get the investors in these loans. they have to get them to remain confident in the company and investigations from the ftc and justice department come others a lot going on here. justice department, there is a lot going on here. a ceo resigns unexpectedly, there is a search committee to

find a new one and they did not do that here. tell.ill vonnie: has day-to-day business stopped? mike: business is still going. they are forecasting strong revenue growth. they did raise interest rate yesterday by about 55 basis points for their standard loan program. that raises a new round of questions. will that make borrowers take a step back and look at competitors or will they be able to keep growing these as strong as they did? it is becoming a show me stock. show me this growth is sustainable going forward. it is quite a challenge for scott. vonnie: mike regan, thank you. betty: fascinating story. hpnext, an interview with ceo meg whitman.

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betty: this is "bloomberg markets." vonnie: hewlett-packard enterprises holding its annual conference in las vegas. the first since hp split into two companies. the two companies will work together on the internet of things, the next big thing. emily chang is standing by in -- in go -- and santos go san francisco. emily: meg whitman joining us in las vegas. great to have you back on bloomberg. you told me a year ago that

turnarounds are often harder than you expect. i wonder, what has been the case so far with hpe post-split? fabuloussplit has been -- when technology is moving at lightning speeds, it is imperative to be smaller so we can go faster. as twobeen easier separate companies than it was under one big company. hewlett-packard enterprises, we are happy and our shareholders are as well. emily: do you see others following that model, that leader is better or going the dell route, bulking up? meg: depends on the company, the leadership. we've seen a lot of divestitures

and carveouts in the last 12 months. people are realizing that with the pace of change in every industry, you have to be fast. the future will belong to the fast. we thought it was important to get smaller. -- wehose to get bigger decided to deliver the company -- delever the company. we chose to invest in the internet of things. dell is doubling down on old technology. different strategies for different companies. i like our hand. emily: you said internet of things is a big opportunity for you. ofn you look at internet things versus clout, how much or thedo you see in one other over the next five years, let's say? meg: if you think about our

current business, it has largely been a datacenter focused business. is high but cloud or global infrastructure. a whole new area in campus about and edge -- think smart hospital beds, so driving cars, jet engines. compute will have to move to the edge where that data is being collected because you do not have the time to bring all that and back to a data center process it and send it back out. the car is making decisions real-time about the data it is collecting. a half second latency will not be good enough. opportunity to compute at the edge, wireless lan at the edge. i do not know how big it will be. it is at its earliest stages, but we think it is perfectly of beingo our core dna

the best in the world with -- it has to be small and low power consumption. you talk a lot about the cloud. amazon is putting so much pressure on everyone. how much growth do you really see for hpe in the long-term given how much pressure amazon is putting on the entire enterprise industry? emily: i think this is a one to two to 3% growth rate category overall, but the real pockets of growth. is the name of the game for infrastructure. cloud,hink about private not everyone wants to put their applications into a public cloud. we had an interesting conversation with dropbox, a company born in the cloud who is moving back into the data center

come a very advanced infrastructure that is designed for their application in their data center because as they got so big and it began to cost more wf, they needed more control, so they have moved from a public cloud back into a hybrid cloud environment with a more traditional way with their own ability to do compute storage and networking. emily: the ipo market is stagnating. the valuations have plateaued. how will that impact potential m&a and how interested are you in m&a? meg: many of us predicted that there would be a correction in the value of some of the start of companies. -- start up companies. we see this in silicon valley.

it is advantageous for companies like hp because the valuations will be more reasonable. we are interested in m&a, but at the right price, in complementary areas. great complementary technologies we can put throughout distribution system. they were not overly expensive. we paid a fair price, but not a 60-80 times multiple. we have to be careful about that. capital allocation strategy, share buyback would be a better choice. what areas might you be looking at for the future? meg: we are interested in the industrial ip, infrastructure companies, software defined in

for structure companies that can couple met the terrific suite of products we have. converge and do hyper converge on our own. do we want to invent it ourselves or would it be more buy?xpedient to emily: you have been an outspoken critic of donald trump. have you had any conversations with the gop establishment about finding another candidate committee third-party alternative -- candidate, a third-party alternative? meg: no. i do not think donald trump is the right answer, but i have not been looking at a third-party candidate. emily: does that mean you will endorse hillary clinton? meg: we will see.

i want to get through both conventions and see who the vice presidential candidates are. i want to get an understanding of what the final platform will be. we will make a decision later in the summer about what we will do. hillary clinton is the first female presumptive presidential nominee. you have broken through some in a glass ceilings, yet, there are still so few women ceos of big technology companies. how do you feel about that categorization? is there a different standard for women in business, especially at the top? positive, the the progress we've made is really amazing. there are more women leaders today at all levels of companies because we have made a lot of progress there, but there is still work to do. to young women is

science, technology, and generic and matt. -- engineering and math. there at the end of beginning of another phase of big technology innovation. the opportunities over the next 20-40 years will be as great as they were the last -- i.t. was the defining industry of our generation. it will be the defining industry of the next generation as well. was asked, what would you tell you her 17-year-old self? i would tell her to be an engineer. emily: you have done quite well for yourself. appreciate the advice. can hpe itself become a target? is that something you would consider? meg: you never know. , it willr we spin off

still be a $33 billion business with 50,000 employees come all across the globe. it is not a peanut. you never know what happens in this industry. we are really excited about the future of hewlett-packard and a price. -- hewlett-packard enterprise. withoftware portfolio haven on demand and berdych off -- and vertica. i think we have a great chance to be super successful. by the way, we are out doing our competitors everything will day. think about storage, for the last few years, we take and share in servers, networking the we grew 18% in networking, cisco shrunk 3%. now that you've gotten

this company into a better position, what is next for you? to beng do you intend ceo? would you ever get back into politics? meg: definitely not elected politics, that is for sure. stayd the board i will five years. i love running these smaller companies. you are more able to be nimble and invest and go deep. i'm having a great time running hewlett-packard enterprise. emily: meg whitman joining us from las vegas. thank you for joining us today on bloomberg television. emily chang and meg whitman. we have some breaking news. a one-on-one interview with donald trump, headlines just crossing our bloomberg right now.

that there is no need for him to raise a billion dollars for his presidential bid . he will use his free media to raise that kind of cash because there is no reason to go out there and fun race. his vice president to list has been narrowed down to 4-5 politicians and two from the military. he will not be picking a running mate from wall street. he talked about a lot of other things. he believes voters don't care about the trump case. vonnie: the trump university case. he says that voters do not care. he says he does not even think about this anymore. reiterates he does not need to fun race because of celebrity publicity.

fundraise because of his celebrity publicity. betty: this not needing to raise money, he is still going up with billionaire friends. he addressed the whole scandal of infighting within the campaign. they get along well. not distancing himself. you are watching "bloomberg markets." ♪ okay, ready?

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♪ get america's fastest internet. only from xfinity. betty: from bloomberg world headquarters in new york, this is "bloomberg markets." betty: a big day in u.s. politics. vonnie: killer clinton becoming

the first woman to claim the title of presumptive presidential nominee. -- hillary clinton becoming the first woman to claim the title of presumptive presidential nominee. just: bloomberg politics sat down with donald trump for an extended interview covering a variety of issues including campaign fund-raising with the trump university case and taking a running mate. michael bender and jennifer jacobs join us now. let's tackle the fund-raising part of it. himself from fund-raising. he largely self-funded his primary campaign. he used free media on cable to get his message out. he struck a chord with republican voters by saying he was not taking money from

special interests. that is changing now. it is a bigger election, he has to reach more voters. the campaign has struggled to put that apparatus together. hasn't shrugged that off saying i don't need to raise a billion dollars. i don't have to do what barack obama and mitt romney did four years ago because i am a former reality tv star. my star power will attract the cameras. you guys will all come. vonnie: he said he would not even need to raise half that. it's not quite clear whether he will be able to even if he wants to. michael: he made a comment that he thought they could do $1 billion. i asked if he could commit to half of that and he would not. i think he wants to hold on to this message that he is not that he is a different kind of candidate, he will not be beholden to the lobbyists.

and the special interests that have ruined washington and contributed to the gridlock in congress. betty: the other thing he talked , more clarity on who would be the team around him. he talked about vice presidential picks. narrowed downas his shortlist to seven people and he says those seven people fall into three categories. politicians, military generals and business. he said flat out he does not want someone who is in business. he ruled out that category. his shortlist has two members of the military. it is less likely that he would choose one of those generals to be his final choice. that leaves the last five as longtime politicians.

if he had his preference, he would pick somebody who he gets along with personally. timene who has a long experience in washington, d.c., a professional politician who knows the ropes. someone who has a strategic advantage. vonnie: he mentioned there were several former campaign rivals being considered. jennifer: he ruled out rick perry as his running mate but said he liked rick perry a whole lot. on bordere good issues. he doesn't want rick perry sbp but would love to have been in his administration -- have him in his administration. yesterday, he put out a

lengthy statement think he would not talk about trump university. to talkingo move on about economics and job growth. a little bit, spend some time talking about trump university and how he has been mistreated in the case. hish is a reflection of remarks on the judge, but he refused to turn it into a personal attack. he said voters do not care about this, it is not a big case. actually try to turn the job growthn back to and economics. which is unusual for him. vonnie: do you get the sense that somebody -- he mentioned mitch mcconnell has spoken to him. jennifer: he did, but he said there are few people who called him to complain about his comments. he said very few.

his decision to do that speech last night in westchester county was hiseleprompter decision come all about turning back to the economic issues and moving on. we asked repeatedly if there was some reason why he changed his tone and when scripted -- went scripted. he said this was about me .anting to do that he refused to admit that anyone had influenced him to change his tone. betty: what was he like? you visited him at trump tower. jennifer: a very different personality from what you see at the rally. michael: this outrageous personality, bigger than life -- betty: more toned down. michael: almost hunched behind but a lot of humorous egotism.

he pushed back on a story of hours from yesterday -- on monday about a private call he had. hewanted to make sure that said that he knew we were on those calls, you do not pull one over on me. vonnie: he's going out to meet with real estate developers. jennifer: right, he denied to us that any of those high-level fundraisers who have volunteered to raise money for his campaign and for the republican national committee have deserted that fund-raising effort. he said i have not heard anything about that. he was having a lunch meeting with some top real estate officials who wanted to have some lunch with him and he had other people coming in to talk about fund-raising.

the donors are not abandoning me come everything is going fine, no one cares about these comments, everything is going well. does it mean that he did not out negotiate paul ryan? jennifer: paul ryan refused to endorse him. had said all along he was not going to back down on policy or agree to anything. it sounds like that is how it went. paul ryan had to back down and say, ok, fine, i will endorse you, even though it doesn't sound like he won any negotiating points. it sounded like he outfoxed paul ryan and he said no, i like paul ryan. betty: for him, offense is always the best defense. it seems to be characteristic of his campaign. controversyot of

within. michael: he denied any infighting in his campaign. twosuggested that his top aides are working hand-in-hand. that things were going to be smooth from here on out. he has a very small staff. has fostered rivalries between them -- time will tell on that one. betty: thank you for bringing this one-on-one interview. they just arrived back from that interview with the presumptive fo republican presidential nominee. vonnie: that is andrews air force base. the president is flying to new york. live pictures from andrews air force base. president barack obama flying to

new york. next, robert greenberg from .kechers joins us ♪

the presidents just off of marine force one one ato board air force andrews air force base where he will fly up to new york city for a democratic fundraiser, but also to be on jimmy fallon. vonnie: which will air tomorrow night. betty: time for the bloomberg

business/. -- bloomberg business flash. united says it's last isght from laos to houston -- the government limited access to foreign exchange. brazil antitrust bancotors have approved brodesto's acquisition of the local hsbc unit. the memoir will detail

rented --s as the reddit ceo. betty: many companies like under armour and macy's have been cutting their forecasts while others have been able to buck the trend and wind growth internationally. -- find growth internationally. skechers has continued to see strong revenue growth.

for more, we are joined by robert greenberg, skechers founder, chairman and ceo. robert: hello. you both look so nice. skechers has been one of the bright spots in apparel more broadly. how do you plan to keep that revenue growth going? robert: just continue what we are doing. we are moderately priced, we have 19 divisions. we make athletic footwear. we are america's family brand. you will go after more of the market share of some of think hes like ended he does and get more into performance athletic wear. robert: performance should do

over $1 billion. we are in performance. we were the number one running shoe last month. when i think of performance athletic wear, i do think of adidas or nike first. how do you become top of mind? robert: just keep doing it. we reached $1 billion in sales in five years we are in golf, going into basketball, cleated. it is a long process. vonnie: you are going to be trying to get more into foot locker and dick's and opening retail stores. the bit of a break from what others are doing. it showcases the brand and the best way. nobody we sell two carries our whole line.

we have 3000 styles at one time. there is nowhere to show that in any retail store. that certainly does help -- vonnie: why not stick with your own retail stores then? robert: the are retailers and wholesalers. he does have's -- adidas has stores all over the world. the four or five major brands have stores all over the world. we are doing the same thing. authority is in bankruptcy. we heard under armour say that will hurt their sales, for instance. you are sold at sports authority. robert: we did very little business with sports authority. we are more in the family channel. we do sell to the exporting 's sporting goods.

we have not reached the point of being that involved -- vonnie: where are you most excited about and how are you dealing with the foreign exchange component? robert: the international market by the end of this year will be half of our business. which is great. we are growing very quickly all over the world. exchange, just like everybody else, we adjust prices when we can. when currencies drop and stuff like that. that doesn't affect that much. betty: it is an increasingly big part of your business. where is the biggest market for you or where do you want to target internationally for skechers? robert: there 7 billion people in the world.

everyone is moving into more middle-class come comfort has become such a big thing. people overeen more 60 years old wearing athletic footwear than i have in the last few years. we specialize in different fits. we created a fish called relax fit. widen infeet tend to the front after 45 and 50. i don't think teenagers even know they have feet. they can hurt. you cannot have a good day with a bad fitting pair of shoes. betty: you can't have a good five minutes with a bad fitting pair of shoes. [laughter] let's say looking at 12 months, are there markets you would like to be in that you are not in right now? robert: we are in just about

every country there is. short of argentina, which is difficult -- we are in every country in the world. we will probably have 2000 stores around the world next year. stores around the world in one year. every time we open one, it is a success. they love the stuff, it is pretty uncomfortable. -- pretty and comfortable. comfort is our banner. betty: thank you so much. thank you for visiting with us. robert greenberg, skechers founder, chairman and ceo. back to business where ramy inocencio has the latest on how we are treating here. -- trading here. ramy: a very small range bound kind of environment.

markets are up near session highs, the dow up .4%. i want to talk about the laggards right now because there are some of those. sector.he fertilizer we can see the reaction with mosaic down 2.7%. potash down 1.5%. they were expecting better contracts out of china and bitter demand growth from latin america, but that is apparently not happening as they were expecting. another sector, the apartment reit sector. about bay communities flat, had been lower. cut its apartment reit

outlook. some cities saw spring leasing mrsisses. betty: much more ahead on "bloomberg markets." is it worth it to become a chartered financial analyst? we checked the salary numbers. is it really worth it? ♪

betty: this is "bloomberg markets." time for the chartered financial havest exam -- candidates

studied for hundreds of hours and spent thousands of dollars on fees and materials. is it worth it? joining us now is jenny surane. you don't into the numbers. -- you dove into the numbers. jenny: it is hard to tell. the cfa institute does not track that kind of thing. i talked to many experts, talked to a lot of traders. many appreciate the rigor of the the but cannot quantify exam in terms of salary or a raise or promotion. a bit of a disconnect there.

betty: how much do people make if they take a cfa? jenny: folks with a charter tend to make more money from either with a graduate degree or without. they don't account for things like how long they've been at a firm. you get raises after several years. it takes at least four years to get the exam. good,: if the results are why don't they keep track themselves? jenny: they tailored the registration process a little bit. it, meaninglot of they lost a lot of the important data. betty: how long does it take to study for the cfa?

jenny: each level takes a candidate about 300 hours to study for. it is not the money, but the time they invested in getting it. vonnie: with the recruiters think of the charter -- what do e recruiters think of the charter? jenny: nobody asks for it. of the hiring managers say deal of i want to hire are people with cfa's. best say the only people i want to hire are people with cfa's. following stocks as they inch closer and closer to record highs. ♪

>> welcome to bloomberg markets.

betty: good afternoon. vonnie: here is what we're watching this hour. the s&p 500 is within striking distance of the first record in more than a year. the federal not raise interest rates. betty: the highest approval rating is in. something you might not have heard of. vonnie: is it too late to save the company? betty: we are but an hour away now from the code of -- close of trade.