betty: from bloomberg world headquarters in new york, i am betty view. vonnie: i am vonnie quinn. final hour of trading. comeback. making a economic concerns linger. betty: president obama formally backing hillary clinton for president. he met with bernie sanders, who is still not ready to concede. vonnie: on a lighter note from you can schedule a ride from ub er. a game changer in the competitive ride handling business? betty: we are one hour from the closing bell. the latest on this comeback that petered out. in negativeill

territory. the dow almost neutral there. .3 protest nasdaq down .3%. if you look at the intraday chart for the s&p 500, you can see the big screens there. below is that 2107. about 15 points away from the record high back in may of last year. down to 2%. all is you can see the individual .ectors are declining thanks profits could be heard and treasury yields are sinking. materials are something .6%.

copper futures are sinking to a four-month low. hit, wheret getting stay in a month. down from the 10-month high. trading above 50, though. financials seeing getting hit because of that. want to look at the individual stocks. wells fargo, bank of america my jpmorgan, down .6%. wells fargo leading the declines. expectations of profits can get head. does that mean we are seeing the fear trade coming back? shery: gold is surging .8%. we are seeing a trade at 1272 but we are hearing from a

survey, 39% of respondents 1400g that gold may exceed by the end of this year. volatility is searching for the past four days. take a look at the vix. of 2.4%. it has been up the last four days. so yes, we could say that some of the fear trade is back right now. vonnie: thanks, shery. let's look at the headlines. mark crumpton has more from our newsroom. mark: it is now official, president obama has endorsed hillary clinton for president. the president made the video announcement on mrs. clinton's twitter account. i want those of you who happened with me from the beginning of this incredible journey to be the first to know that i'm with her, unfired up, and i can't wait to get out there and campaign for hillary.

mark: white house press secretary josh earnest told reporters that president obama and mrs. clinton full make their first campaign appearance together next weekend in green bay, wisconsin. the president's endorsement came after he and senator sanders held a private meeting in the oval office. afterwards, the senator did not offer an endorsement of mrs. clinton but he did tell reporters he will do everything he can to prevent donald trump from becoming president. trump responded to today's presidential endorsement saying "obama just endorsed crooked hillary. he wants four more years of obama. nobody else does." federal officials say they have ruled out requiring psychological testing for airline pilots. this despite an aircraft last year were a german pilot delivered gleefully when no liner full of passengers -- deliberately flew an airliner full of passengers into a mountainside. an official says such tests are ineffective because they reveal a pilot's mental health for only

a moment in time without providing insight into whether the pilot will suffer problems later. a bus in southern brazil. off the side of a highway and crashed, killing at least 16 people and leaving dozens injured. it happened 38 miles east of são paulo. a local newspaper reports that the passengers were university students. a supreme court -- boston supreme court case that lost a supreme court case that raised questions about its sovereignty. the justices said puerto rico is not the equivalent to a state when it comes to the double jeopardy clause from which bars multiple prosecutions for the same conduct. global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. i mark crumpton. back to you. betty: all right, mark, thank you so much. let's continue the conversation mark was talking about, as he outlined some of the comments from donaldter

trump and from hillary clinton after president obama's endorsement of hillary clinton as the democratic nominee. i want to bring in margaret talev, who is at the white house. also michael bender is joining us. .argaret, back to you as you were talking and right after we started to see these tweets from both campaigns, quite nasty already. if it wasn't already quite nasty, it is going to get even more. is this the town of things to come? margaret: uh, yeah, in the short answer. to a certain extent hillary clinton is when it take donald trump. hillary clinton's playbook had not been to try to make the flashiest headlines possible with the most acerbic comments possible, but the campaign does feel like they have to sort of rejigger their instincts on this one and play ball. notident obama also has

traditionally justice will be rethinking on the democratic part. quick consolidation from the democratic party we are seeing as obama and clinton try to bring not just bernie sanders but everybody -- elizabeth warren, everybody come into the fold. you aremichael bender, in the washington, d.c. bureau and you interviewed donald trump one-on-one yesterday at trump tower. was he anticipating this endorsement? could he have come up with something a little more original than the same kind of rhetoric he has been using the last couple months? theael: you don't like "crooked hillary" tweet today? vonnie: i'm not expressing an opinion. him at: we interviewed his office in new york. we didn't talk at all about the endorsement and actually not much about hillary clinton, in part because donald trump has his hands full with the republican party trying to figure out how to get a fund-raising operation of his

the woman tried to unify party leaders around him. -- up to speed, trying to unify party leaders around him. he will spend plenty of time tried to go after hillary in his trademark way of giving some sort of nickname that will stick. talking about a speech on monday, trying to step on a clinton event. she is going to be front and center on the campaign and his radar already in the last few weeks, since trump has had no republican rivals on the primary trail, taking aim at her and willing to be pretty caustic when he does. betty: we did hear from one big republican voice in the business world this morning, jack welch, who unequivocally said that even though he was a cruz supporter come he is going to vote for donald trump. jack: i will vote for donald trump. betty: you will vote? jack: absolutely. betty: ok.

jack: not a question. i would vote for just about any human being against hillary clinton. betty: that is one vote for donald trump. margaret, i'm curious, who will have a harder time getting everybody behind them? -- is it going to be hillary clinton or donald trump? the election were held today donald trump would have a harder time for the beautiful, or crazy thing about elections is that a lot of stuff can happen between now and november. baby steps towards trying to stay on message and not offend as many people as possible. in making her first joint inearance with obama wisconsin, hillary is signaling that not only does she want to play in the midwest and heartland of america, but sending a message to paul ryan, or at least forcing the remembering of the contrast between donald trump and paul ryan. the clinton campaign would like to pick up as many business or moderate republicans

who don't feel comfortable about donald trump as possible. find out initial efforts will be -- right nowanders initial efforts will be on bringing sanders supporters into the fall. vonnie: speaking of sanders, he met with harry reid early today thateid came out and said he has accepted the fact that the president is endorsing hillary. it is all over for sanders, i guess. playuch of a role can he in constructing the platform? short-term i think he will have a significant role in putting together the platform. there is a lot of democrats -- sure, i think he will have a significant role in putting together the platform. there is a lot of democrats around the campaign telling her to give brady what he wants right now, how can get to the give bernieweek -- what he wants right now, help him get through the next couple weeks, and working around or with that in the months to come. it is crucial to get him on board and his supporters on

board. we saw a couple of nights ago on the night of the last republican primary on tuesday where donald trump is already making a direct appeal to bernie sanders supporters. betty: and, like, as we know, be thetrump, he seems to master of using the media to his advantage. but it does seem he has kind of lost a little bit of that over the last several weeks. how does he get that back and get that advantage over clinton? michael: it will be interesting to seemichael: -- he has a big tour next week. he goes across the country and starts targeting more general election states. that will change the dynamics some. he has got to start talking and appealing to general election voters, not just republican primary voters. still has the bully pulpit. as he pulled us, 200, 300 reporters and cameras every time

he holds a news conference or rally. and that is true. what we are seeing now is what is going to be more important is what he is saying. almost reached critical mass with his comments against the judge and his trump university case. he had to hedge on that and walk that back some. not just getting immediate attention. , and itw he is using it will be more focused on him solely as a candidate. it is one-on-one. margaret, the president endorsing mrs. clinton, did it on twitter. they will campaign next week. it is the youth vote that will be one of the targets? margaret: certainly, the youthful will be one of the targets. senator sanders in many ways is well poised to bring out the youth vote over the course of the last many months, the big

rallies and the rooms and the lines outside filled with young people. , it will obama as well build his enthusiasm. still has the support of more young people than hillary clinton does and she will count on him and senator sanders both and she will want to count on michelle obama as well come not just for young people, but for military families and african-american women could we expect to see mrs. obama joined soon as well. betty: margaret, thank you, margaret talev at the white house. michael bender, thank you as well, from bloomberg politics, and i washington, d.c. bureau. ♪

betty: this is "bloomberg markets." i am betty liu. vonnie: i am vonnie quinn.

back afterpulling its run-up to attend-month high. wti crude has jumped as much as 95%. almost doubling. is this a spoon or just a brief hiccup? vonnie: let's bring in paul hickey. markets are telling us that oil has risen too far or too fast, or indeed, equities. paul: if you look at the commodity markets, oil has doubled the past four months. the average median bull market again for oil is 38%. we are 2.5 times that. the strongest bull market we have seen since 1983. eight strongest bull market we have seen since 1983. i think overall what you saw is that obviously in january market got so oversold that 26 wasn't real.

i think you had more of an equilibrium level there. around these levels you could see fair value for oil. we haven't seen production really come back online. once the prices rise they will turn on the spigot again. that is not easier said than done. betty: ok, so if oil continues to rise, as the correlation with the market, the equity market, become less of a factor? is at whatuestion point does it become a negative for the economy? i think we have become accustomed -- betty: four 100. paul: to these oil prices. you could get it to the 60's and the market would not worry about it. what is really driving things here is oil helping in the credit markets and the high-yield sector. the high-yield sector, a lot of energy exposure there. ineads continue to narrow

the high-yield overall and especially in the energy sector. gross todayad bill calling for supernova in bonds and plenty of people are saying we are overbought here, either mildly or majorly overbought. paul: you know, to say that treasuries are way extended i thought that for several years, but the yields keep going down. focus. not my area of -- as long as the markets rather than focusing strip we on interest-rate, which is really a factor, you want to look at the spreads a riskier credit, and they are moving in the right direction now. betty: ok, so in terms of the equity markets, are we -- is this healthy right now? is this a healthy market? , yesterday we looked at the credit quality of companies and equity market performance.

where the parent company has junk rated credit since february, they are of an average -- just the s&p 500, up an average of 35% since the february lows. over twice the performance. that may sound like a horrible thing. the stocks tend not to outperform. early on in the rally you tend to see the lower quality stocks. out of the 2000 and market, tech stocks are the lowest quality. on the initial run, higher than the overall market. 2009, the financials, the risk your credits, they did well in the initial stages. in the initial stages of the rally, as long as they are performing, that is good. continues,the trend that is positive.

longer term should be sticking with higher-quality stocks. is stocks --kie junkiest stocks in the market that are doing the best. betty: paul, good to see you. vonnie: you are watching "bloomberg markets." we have indices a little bit lower. ♪

betty: this is "bloomberg markets." i am betty liu. vonnie: i am vonnie quinn. betty: time for the options inside with shery ahn. they: joining me now is lead options strategist with dr. derivatives. great to see you. we are seeing stocks just declining and we have seen this all too often.

we get close to a new high and then we pull back. is this the start of another trend of just stocks getting hit? we are probably going to level about here for a while, the yen and yang. we have high stock valuations keeping a lid on a new high on the s&p could the dow and nasdaq are not as close. 24 times on the s&p, 17 times on supercheapasis, vs. interest rates. the fed meeting in june is owing to be a nonevent. not a lot of news to generate to break out one side or the other. x is saying a little worry on the horizon. shery: you talk about the vix and we are heading for another climb. how do you see volatility in the next few weeks. tim: we're certainly elevated

and we made new recent highs on the s&p. vix, the measure of fear in the s&p, didn't come close. kind of a nonbelief in the options market. going forward i kind of favor the downside here, just given the fact that a lot of the stock buyback action kind of elevated those ratios and the fact that we have had a 4 three quarters of earnings declines. given the fact that the fed may raise rates in july by the end of the of --and of the year. shery: we have the fed and the possibility of brexit and political conventions. what is the trade in this environment? tim: the one thing underpinning that has kept the market up is strong oil, the big outperform or here. i think it has gotten a little ahead of itself here given the fact that the implied volatility on the oil stock is at yearly

lows. the complacency level is extreme. i'm kind of favoring a pullback here, not ever great magnitude, but options are cheap. the big boys xle, of the oil stocks -- exxon, and on, schlumberger -- paying $2.50 for that. very cheap level. won't take much of a pullback to get these things moving. xle, market drivers the next few days? tim: yeah, absolutely. as oil stocks go, so will the market going forward. the lack of a general kind of around 50, ifoil it breaks below the 50 level, you could see a quick selloff in the oil stocks, which would bring the overall market down as well. shery: tim, thank you so much for talking to us.

vonnie? betty: shery, thank you so much. much more ahead on "bloomberg markets," now that we're just a little over 30 minutes the closing bell, uber is allowing you to schedule a ride 30 days in advance. vonnie: where are we going to go? betty: we're going to talk more about that story. vonnie: markets are lower. ♪

scarlet: from the 10 manhattan, you are watching "bloomberg markets"

i'm scarlet fu. alix: i'm alix steel. mark crumpton has more from the newsroom. she: bernie sanders says will do everything he can to prevent donald trump from becoming president but he did not offer an endorsement of hillary clinton. i spoke briefly to secretary clinton on tuesday night and i congratulated her on her very strong campaign. i look forward to meeting with her in the near future. to see how we can work together to defeat donald trump and to create a government which represents all of us and not just the 1%. senator sanders and the president met for about an hour in the oval office. sanders, who requested the meeting, is under pressure to drop out of the race since hillary clinton became the presumptive nominee this week. president obama offered his endorsement of mrs. clinton earlier today.

hillary clinton says she is looking forward to having "the good advice and counsel" of senator elizabeth warren. mrs. gotten said in an interview with bloomberg politics she plans to consult with senator warren and others about how to implement a wall street regulation plan. mrs. clinton also notes she has spoken with the massachusetts senator in the last few weeks. three people have been killed after a small plane crashed into a car in a parking lot near houston airport. the plane crashed shortly after 1:00 p.m. local time into that car that was parked at a hardware store near the airport. officials say they believe the people killed in the accident were on the plane known was in the parked car. on capitol hill, the house and senate were trying to resolve differences over fighting the zika forested the senate approved $1.1 billion to fight zika. the house has approved a little more than half that amount. dayal news 24 hours a

powered by our 2400 journalists in more than 115 euros around the world. i'm mark crumpton. back to you. scarlet: we have the stock market getting ready to close less than 30 minutes from now. let's check in with abigail doolittle at the nasdaq. .3%.il: mastec down, down somewhat muted trading from select the last few days. the biggest drag is microsoft. the biggest boost to the nasdaq is apple. tim long has raised his estimates after a recent trip to asia more he became a bit more positive on the iphone. is theands out the most last few days investors and market watchers were talking about the fact that the s&p and whileere a record highs the nasdaq is 40 points away from the nasdaq 5000 5% away from its record highs.

the nasdaq is down on the year ended down the s&p or both of more than 3% and when we take a look at the weekly chart of the nasdaq in may suggest -- i emphasized "may" -- more bearish action may be ahead. the third could prove to be yet another pattern. we see the first two of those pages did take the nasdaq down on recent lows. moreastec could have some bearish downside ahead. -- nasdaq could have some more bearish downside ahead. scarlet: that is one view. what is the bullish view on the markets? abigail: one trader from oppenheimer remains bullish. he says the cyclical correction is coming to an end and the equity markets are likely to break way to new highs. he is less optimistic on the nasdaq. he says it is not as strong as the other indices, and the

nasdaq is not a top pick for this trader at oppenheimer. scarlet: abigail doolittle live at nasdaq. made a surprising announcement today. the company is lowering its users to schedule rides and this is a turnaround for the company. here's the ceo speaking earlier on the subject last september. >> some people still want to schedule rides. so reliable that we don't have to schedule. they go "but i want to schedule." i say, "look, you took a shower this morning. did you schedule time with your shower?" you just turn the faucet and it works. you want to be that surprising. at some point that won't be surprising. eric newcomer covers uber bloomberg news.

she joins us from san francisco. what changed here? eric: i love that line, "do you schedule time with your shower?" uber is meant to be ubiquitous. i think what changed is the idea that you have to listen to your customers and it over and over again they say we would like to be able to schedule a ride even if you think it is a rational because you always have the car there, you compromise and make the product for them. alix: what does it wind up doing for costs? many times i look for the uber and i get search pricing and i wind up taking it or not. how does it change the structure if you book it ahead of time? eric: they are basically simulating on-demand for you. whenever the search price would be would be the same as if you scheduled in advance. all that is happening is that and then fiveys minutes before you actually need calls it forapp

you. it is just like the on-demand service could the user gets tricked into believing they are scheduling far internets. scarlet: they hav --scheduling far in advance. scarlet: to what extent is this a response to what competitors are doing? lyft a couple months ago said they were working on this. lyft is doing this internally. both companies are probably talking out of and they have accomplished at this point -- talking more than they have accomplished at this point. uber is some business clients that we will work with you and compromise around the product you want. when -- we are the ones willing to build the product if you need it. alix: a lot of competition could what is next on his agenda? eric: it is all over the place.

self driving cars, the one hand he is struggling, the fight in china on the other, building partnerships. just reported yesterday that uber is in very early talks with .iat a company that is doing so come so much and raising tons of money. this is one small product change they are making. scarlet: eric newcomer, thank you so much, joining us from san francisco. alix: disney has very big plans but can it really be the magic kingdom? scarlet: in the middle kingdom. break, a look at disney's share performance this year. it is down almost 7%. lots of concerns about espn subscribers. alix: not as bad as it was last summer. ♪

scarlet: this is "bloomberg markets" i am scarlet fu. alix: i'm alix steel. scarlet: take a look here, we're still read and almost into little change with the dow all but erasing its losses. steady pairing of losses in the afternoon. if we don't manage to get into the green, looking at the first to climb this week. alix: right around the highs of the session for the s&p. after 20 years of courtship and over $5 billion, disney is set to throw open its doors to the

first theme park in mainland china. shanghai disneyland opens next week and in addition to the amusement park, the company is producing more films in the region. reporter satmberg down with bob iger -- alix: bob! sorry. scarlet: about the challenges of entering the market. >> in making a decision to enter the market, we felt the best way to do it was with a theme park. theme parks are expensive. this one would cost in the neighborhood of $5.5 billion. it is a big bet on a big market. think, not only the biggest entrance into the market, for the potential to deliver growth for the company long-term. >> it is evident that a time when the government has got this big focus on driving the consumer market, the consumer element of the chinese economy.

is that good timing, good foresight on your part? you have to start with the notion, good or bad, you are building something for the ages. it is not about the economy today or the circumstance today. it is about what we really see long-term. some unknowable, of course, but it is a bet on a market and a true belief on a market. of what is going on in china that works to our advantage, clearly establishing a move from the manufacturer to the war service economy is very, very important. -- more service economy is yard, very important. we benefit by that but also contribute to it. one of the reasons we got the permission to do this is the nature of the business, the number of jobs we create in the service sector directly and indirectly, and the message it sends. -- we heard you might be looking for a joint venture partner to produce movies in china.

bob: yes, we have an initiative underway already. we have a lot of development activity right now. making disney branded films in china. tom: are you able to tell us which part is you are looking at in china -- which partners who are looking at in china? bob: i'm not able to because i'm not 100% certain what we have said publicly. tom: how far along? very far along including developing ideas, concepts, identifying talent to make is films. tom: can you give us more clarity on the timeline? bob: shortly. tom: within the year? bob: we won't have a movie released within your but we will have a movie in production. at least one. tom: as you look across the businesses and more widely over

the global economy, how do you gauge where things are going? not an economist. i just run the walt disney company. clearly what we have seen in europe for the last few years is cause for concern. there isn't much cause to be overly optimistic there. although our businesses are doing reasonably well. generally speaking the business across europe is ok. i wouldn't suggest we have great optimism. opportunity with our company even in other parts of southeast asia, recent discussions about indonesia.

we think there are a number of markets in asia even with an economy that is not as robust as it once was, including india, where we still have a lot of opportunity. the united states is actually quite solid. while i don't know i would call it an exuberant economy, it is a healthy enough economy for our business to thrive in the near term and i believe for years to come. alix: that was bob iger, walt disney ceo. scarlet: let's look at the commodities sector. oil taking a bit of a breather after a 10-month high yesterday. the bgi has jumped as much as 95%. some analysts are calling for $60 a barrel by the end of the year. continentalo of resources, the largest show producer of the year for oil, was way ahead of the curve. he called for $60 back in january and we will talk about him later on on "what'd you miss."

joining us is joe weisenthal. seems like the call was pretty bananas and he was a real outlier in that. joe: absolutely. it is pretty remarkable when you think back in all markets but oil and particularly, how far we have come since the middle of february. it is completely right the way you said it, completely out of consensus call. scarlet: moore a knee-jerk reaction because for most of may you have the index fund along with oil prices rising. alix: great point. if you look at bloomberg here, u.s. oil production over the last year. this decline we have seen has been what has led oil prices stronger. sorry, hold on. what i do want to show here is what happened in the last week. 10,000 barrels of oil a day actually added last week. this is a key question we want to get to harold with. $50 oil is happening. adding adding ratings -- rigs, completing the wells you

created? if oil rises they will turn the production back on and it will be self-defeating. very much looking for to getting his take on this. scarlet: all the supply disruptions that have allowed oil prices to climb off their lows, a lot of them or happenstance. canadianes in nigeria, wildfires. not like any of it was planned. alix: the .6 million barrels of oil offline in may. actually a record. the bearcats for oil is what happens -- bear case for oil is what happens when oil comes back? nigeria, canada at some point will come back. you have this inventory and it is not enough that production comes down. you need to demand to draw down the inventory. the inventory overhang that the bears .2, that will be a problem. joe: all the questions are crucial even if you are not

directly in oil. central bankers pay attention to oil. it should be a great and important conversation. alix: we are excited. scarlet: good job on getting this interview. alix: thank you. a little later in the show, we will be speaking with harold hamm, ceo of continental resources. scarlet: cnn is reporting that senator elizabeth warren will endorse hillary clinton as president tonight. we are learning that charles koch is turning away from the presidential race, according to the associated press. elizabeth warren due to come out in support of hillary clinton, charles koch saying goodbye to presidential politics. alix: really fascinating. the close of trading is 12 minutes away. here are the major averages as we head to break. really flatlining on all the major indices. s&p around the highs of the session. ♪

alix: markets close in 10 minutes time. shery ahn has a look for you. shery: s&p still unable to go into the green. dow jones currently unchanged. s&p 500 also unchanged. still not able to get into the green. few points away from the record high that we reached in may of last year. take a look at what oil is doing because it is also declining from its 10-month high, down 1.2%. still above $50. we are talking about a stronger dollar, countering a rally from tightening global supply. take a look at the imap on the bloomberg. that will show you defectors.

materials and financials leading declines. financials just down because treasury yield sinking to the lowest levels since february. an expectation that that will dampen the process. materials losing .6%. talk about materials snapping the six-day winning streak, take a look at these companies. energy, down more than 6%, after ubs cut its rating from buy to sell, saying the market was overlooking a drop in payouts. fell to thees just lowest in almost four months. you also have cs industry -- cf industries, falling almost 4% as turkey banned the import of nitrate fertilizers on security concerns. we have a lot of declines in the market. scarlet: lots of detail.

thank you so much. alix: just a few minutes to go in the trading session. want to bring in david wilson from bloomberg news. what do you make of what we have seen in the last day? almost record highs and all of a sudden it's a much. avid: you could argue it is consistent with what we have been seeing for some time now. there hasn't been more than a three-to a rally in the index all quarter. so yes, go back to march to find one. here we are, fourth day of the week, markets up monday, tuesday, wednesday, and struggling to rise today. you can understand why. scarlet: certainly there is that pattern to keep in mind. also, the old market adage that credit always leads. you have been looking at credit yields. a strategist had a report out this week that look at what has been going on with the lowest rated investment grades.

it is actually a moody's index that tracks yield on securities in this category. what you find out is that yields have been falling quite a bit. you go back to april and you started seeing it on a 10-week basis. the rate of change over a 10-week period exceeding 10%. this happened and nine other times since 1970 and every time the s&p has been higher after six months and 12 months. alix: how does that make sense? dave: well, it makes sense because you are looking at companies and either way, yields come down and in terms of borrowing costs, it shows there is more confidence among investors. alix: even though they are in credit -- dave: at the very least it shows you there is confidence and it is not like you can look at the markets in isolation. clearly if you are looking at the company, people look across

the capital structure. the idea that the bond yields come down, which means prices go up, the same thing follows through in the stock market. is the idea that the bond market investors are fixed income investors are coming into the equity market. fairly decent valuations. alix: and less volatility. if you are a bond the guy you don't like that. it is a very different game. dave: interesting you make the point about volatility. if you look at the chart, this is the fifth time since the current bull market began in 2009 that you have seen yields come down as fast as they have in the past several weeks. there were five other instances from 1970 until 2003. it shows you that even in this market, volatility is picking up. scarlet: very unusual given history. dave wilson, thank you so much. you can check out all the days

charts -- dave: send an e-mail. dwilson@bloomberg.net. alix: that is it for "bloomberg markets." here are the major averages. pretty much unchanged across the board. s&p ending the session around the highs of the day. clawing its way back from the lives of the session. scarlet: bp look at industry groups, utilities, consumer staples, and telecoms. the worst performance, financials, materials, energy shares, cyclical groups. alix: this is "bloomberg markets ." ♪

we are moments away from the closing bell. i am scarlet fu. i am joe weisenthal.

"what'd you miss?" alix: i am alix steel. er.. stocks closing low joe: the question is "what'd you miss?" investors reassess the global economic outlook. americans help to uncover foreclosure fraud of a gigantic scale. get the new bold call and oil. ♪ the major indexes have been steadily grinding higher and parenting losses, still closing down for the session, but only slightly.