♪ >> from bloomberg world arequarters in new york, we taking you from los angeles to london to san francisco. here is what we are watching. from ian taylor. the biggest oil trader. >> major political news from both sides of the atlantic. of voting foround the prime minister. the fbi director is not recommending any charges over her use of a private e-mail server. vonnie: is it time to sell netflix? explaining the downgrade today of the stock because shares are up on the verge of a new collaboration.

we are around session lows so let's head to the markets desk where we have the latest. >> a sense of relief fading after four days of gains. we are seeing them trading lower with the nasdaq leading those declines falling 1.3%. the s&p 500 also adds to the lows of falling 1% while the dow is down .9%. if you look at the function on the bloomberg, you can see the sectors falling most declined as well as financials. remember, financials were some of those that saw the biggest recovery from those february lows. energyprising that sectors are following today headed forhave crude the biggest five-month decline.

trading below $47 a barrel. gainingeing the dollar momentum after trading lower. is again at ad record low. the lowest level since 1985. we also see the japanese yen those majornst counterparts. volatility has surged again. but then a fall of about 43% last week. we are now climbing back up slightly about 10%. take a look at bond yields. investors are blocking to safe asens and we see bond yields

well as the 30 year yield falling to record lows. the boone yields also falling to record lows while australia is also down. remember, the rba just had a decision to leave the benchmark interest rate unchanged. a factor from what west central banks are doing across the world. now let's check the headlines on bloomberg's first news. theresa may has won the initial round of voting to lead the u.k.'s conservative party. the 329ored 165 of votes cast by lawmakers. andrea lead some coming in second with 66. followed by stephen crowd and lee pimm fox. eliminated.s been

in justve more on this a few moments. the fbi director says hillary clinton was extremely careless about handling classified asormation during her tenure secretary of state but in a news conference, they said no reasonable prosecutor would charge her for violating e-mail prodigal -- protocol. to justicexpressing our view that no charges are appropriate in this case. >> the recommendation goes to federal prosecutors that will make final decision about indictment. the national lead over donald trump narrowed according to a university poll, she leads 46 percent to 40%. the same coal showed an 11 point lead earlier.

trying to keep the issue of pollution in the public arena. plans to penalize the dirtiest cars. he is concerned pollution will slip as a priority following the vote to leave the european union. powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. thanks. julie: let's turn to the latest in u.k. politics. let's bring in matt miller who has been reporting all over europe in the past few weeks. he covers british politics for bloomberg news. rob, let's start with you. is the person out of the race at this point. it doesn't seem like that is particularly surprising but what are the other highlights?

surprise.'t a it was clear from early on that he had minimal support among fellow members of parliament. so that did not surprise anyone. just the scale of theresa may's lead over her fellow candidates. she picked up more than half the votes. she was just under 100 votes ahead of the next candidate. leadership isthe that i am a safe pair of hands at a dangerous time. it has clearly worked with most of for conservative mps. and now it looks like it will be a runoff. we don't want to get ahead of ourselves but it looks like it will be a runoff. is there any chance that she can pull something out of the bag before the 250,000 members of

the party get the other? >> she doesn't need to. it she just needs to get to the runoff and it stops being a question of members of parliament. the job is to present a choice wider candidates to the party and the party gets to pick between them. the feeling is that she may do very well because she was on the right side of the argument as far as they were concerned. she was arguing for leave. they voted widely. much better among them then she is doing among her fellow mps. matt: sky news had broadcast some comments from the former conservative chancellor say that andrea lead some was saying extremely stupid things, his words and not mine -- that he

was not really behind britain leaving the u.k.. interesting that neither one of them is what we believe it to be? >> boris johnson and the leading candidate for brexit, he did not believe this and was doing it to position himself for this contest. beforet heard it said that somebody in the campaign did text me this evening saying it short out. she is a eurosceptic but lots of people don't very much like the euro but her argument was, i don't love it, but we are better off with it than without it. her pitch is that although she

, she cante for this deliver it because she understands the concerns of people that did not vote with her. the pitch yesterday was very much, trust me, little the all right. matt: it looks like from this vote, theresa may has a massive majority. she had well over half. she had half of the votes. that counts as a plurality. unite?e or will it continue to fall apart? of the immigration stance, it is disgusting. >> this is a really interesting question.

there is nothing that could happen. and whether that happens may depend an awful lot on what the briggs it turns out to look like . can she do this? may be. her fellow mps thinks that she can. for and this voted is why. do you see either of them triggering article 50? andrea says very soon and theresa may says everybody just hold on a minute. theresa may would be definitely not this year. she is slightly vague about what it might be. but possibly very soon.

as not a student of parliamentary systems, what are the next steps? and when will we have a new p.m. in the u.k.? >> it could. every party has a different system. they'll eliminate the last place candidates until there's just too. that is the tory system. the candidates might drop out. possible people are looking at the votes and saying this isn't really taking off. possible it is far behind theresa may.

one candidate has the support of the party. ascould know as soon thursday, as soon as next tuesday, or september 9. it's not very helpful, is it? every tuesday and thursday we will whittle down the numbers. matt: and you can text your votes in. i'm kidding. [laughter] julie: thank you so much, matt and rob. thank you for your insight. still ahead on bloomberg markets, we will be on the topic of u.k.. laura martin joins us next. this is bloomberg. ♪

vonnie: this is bloomberg markets. julie: time for the bloomberg business flash. landlords whoan built rental businesses by buying large amounts of homes are now selling. companies like blackstone are noting rid of homes that longer fit their business models. it current tenants are given the opportunity to buy. american express will debut an online loan platform this year. it will approve loans and minutes for existing small business card owners that can use the money to pay vendors. territory occupied by startups like square and on deck capital. vonnie: a third round of bids tomorrow, the final selection

process is expected to take place around july 18. remaining bidders for the company include verizon and a group led by quicken loans founder dan gilbert. that is your business flash update. julie: shares of netflix got a boost today after reports that comcast will incorporate the streaming giant into its ask one set-top blocks. netflix fell as much as 5% on a downgrade from needham that cut the rating to hold from buy citing rising goes -- growth risk. analyst atn, senior needham is joining us today on the phone to talk about her call and this report. before we get to the call, i want to start with that report. they say this is a very big deal that comcast wouldn't let customers stream over the set-top boxes. do you think that it is? >> i disagree with them.

that x one platform they announced today that got confirmed by netflix and comcast is only in 7 million homes, not the whole 22 million comcast homes. have to ask yourself, netflix has 45 million subscribers in the u.s., how many already have them on roku --apple tv >> is that really the issue in the u.s.? >> you wouldn't think so, no. it's all late their competitor to roku. only available's in 7 million homes. and if you notice when you look at the netflix average, it is about two dollars less than $10 a month because they all a lot of money to apple and roku when they actually get a lead from one of those. i that comcast got paid more because of it size. it means you will be averaging down any sub that does come in.

has a lote xbox one of fans. could this be an advertising boost for netflix? >> i don't think so. i think comcast once to look like apple and roku. it's good with comcast to make it look like their opening gearbox to competitors and netflix just wants to be on all digital platforms. we showed a chart looking a chart looking at domestic subscriber growth here in the united states that is way down. they have relatively high penetration at this point. investors are banking on international and there was a research report that shows the subscriber growth was going to come in better than netflix had projected. risk?you think that is a >> there are two things you wanted to highlight to people.

netflix subscription anywhere in the world is cancelable at any time because it is month-to-month but the content costs are locked in on a per episode basis over two or three years. u.s., cablehe companies pay for subscribers. anything that slows or makes subscriber growth go negative hurts netflix more because they over the same amount of money on the cost side but the consumer .an cancel at any time all of which got markdown a lot. vonnie: will content costs come down as more competitors get into the business? >> competition is rising? i think that's fine. i don't know if it's really true

offshore so much i think it's like ottl players services in germany. not particularly other u.s. services. when you look at the vulnerability of those customers, there has been a lot of talk about the u.k. vote and the impact it will have. do you think people are really willing -- it is probably a fairly marginal cost to have netflix in your home. do you think that will be the first thing people are looking to cut? isthe second largest market u.k. with 5 million subs and the eu has an extra 6 million. between the 2, 11 million out of 32 million. they are third. if the imf is right. it is like putting on the brakes in the recession at the speed of

light. i think things like whether you can pay the rent, have a job, and eat become far more important, mission-critical as opposed to if you can pay $10 for an american content company. go ahead. i was just going to say that it's american content, right? you might prefer to watch your soccer content because everything is not bundled. it's not like here where everything is a big rundle. everything there is much more a la carte. or your suspicion with french content. netflix is valuable to us because it is mostly u.s. content. it might not be the thing you keep. finish thereve to but we will reconvene for a conversation on this again. laura martin, senior analyst at needham and company. be thehead, what could

biggest medical breakthrough of our lifetime? how are investors getting in on it? this is bloomberg. ♪

vonnie: this is bloomberg markets long with julie hyman. it is a technique that could change the world. using proteins to manipulate our dna. behind the breakthrough is a massive patent dispute. we can read all about it. crisper, what is it? acronym ask me what the actually stands for, but you know about trying to map the genome and trying to edit jeans. it is a gene editing technique

that is so easy that there are hobbyist doing it at home with petri dishes and bits of east. -- yeast. anyone can do it and it is getting cheaper all the time. humans, but animals, plants, biofuels, anything. it means the birth of several different industries, hundreds of billions of dollars at stake. julie: and what is the crux of the patent war? >> you have a scientist at berkeley that first found a way for the crisper process which always existed and bacteria to be adapted and used for jeans. and it is part of harvard and m.i.t. which was the first to use it in a human cell which he argues is an entirely different process.

they collided with one another in an interference case which has been percolating in the courts for a couple years now. they have to take the stand. hundreds of millions if not billions of dollars. you can read about a dim bloomberg businessweek. how it might fundamentally change genetic technology. commodity markets will be closing. ann taylor, the ceo of good all group. this is bloomberg. ♪

bloomberg world headquarters in new york, this is bloomberg markets. i am vonnie quinn. julie: i am julie hyman. commodity markets are closing.

let's head to the markets desk. oils are making a big move today, but gold and silver, which usually trade in tandem are not trading in tandem today. shery: precious metals not shining as bright today. silver coming off its two best day since 2011. we see it now fall more than 2%. -- days ofgames gains, the best sense 2011. a wild fourth of july. bond prices just talking $21 an ounce, but now coming off of the highs. we can see silver -- we saw a gaining,ar to date of more than 43%, but it is now falling slightly there. of course, gold, is holding to its highest level since march 2014. it is year to date, gaining 27.8%. we are seeing it today falling

and reversing four days of gains there. as julie just mentioned, crude, dropping with equities on concerns with the global economy. we see crude oil falling almost 5%. we can see it is having its worst day since february 11, down 4.8%. the same for natural gas, which is reversing two days of gains, seeing its worst day since october, falling to as low as $2.75 at one point. it is holding at $2.77. we are hearing from shell dragon -- drillers last week they brought back the most rigs of any this year. the u.s. becoming the largest holder of proven oil reserves with 264 billion barrels followed by russia, 256 billion,

as well as saudi arabia there. this ample supply in the markets, oil not having a great day. julie: yet, still some challenging fundamentals there. thank you very much. same with commodities, according to the world's largest independent trading house, prices will not rise that much further over the next year and a half. since rallied from a 12-year low in general, brent crude and of uti have been hovering near $60 a month. ryan chilcote spoke with ian taylor, who explained his outlook for demand. mr. taylor: it is looking ok. one of the features is the refinery system has been able to make enough gasoline, and so far, it does look like the gasoline stocks are healthy, and, you know, we do not see any shortage of gasoline. if you look at the relationships on gasoline to crude, they were a lot lower in 2016 and they were 2015. over the last six weeks we

have seen oil moving onto ships, storage -- is that because trailers see money to be made by selling it forward down the road, or because there is no one to sell the oil to because there is not enough demand? i think it is a little bit of the secondary factor. it is not steep enough to make the trades were, but i would certainly say there is less pulled from the far east in terms of real demand. things like the chinese teapots, which were a feature in the first few months of the year, seem to be very well satisfied at the moment, and maybe overbought a little bit. overall, i would say those are trades -- you have to find some way to flip the oil, and of course, shipping rates are pretty weak. ryan: in terms of this global glut, global inventories, are they rising, or are they starting to fall back? mr. taylor: the signs are from the u.s. they may be beginning

to drop back a little bit, but you are right, a lot of oil in the system and it will take is considerable time to work that off. ryan: the picture with u.s. inventories is the picture globally? mr. taylor: yes, i would say that is true. the one thing that is interesting, the u.s. is the place onshore where we had the biggest reduction in production, iran, we hadith the biggest increase. that oil has gone east, whereas we have a little bit less oil in the west. ryan: you mentioned u.s. production. going from 9.6 million barrels to 8.9 million barrels over the year. what would it take to see production return to, you know, 9.5 million barrels? a day mr. taylor: it is a tough question. we are understanding the different economics for some basins. us tovery difficult for help your timing, certainly, you know, one of the reasons we very difficult--

for us to tell. certainly, you know, one of the reasons remain feeling -- they are coming back at different price levels. we're still learning a lot. we should ask the producers, who know them better than we do, but our sense is if you go back to 55, and you get to 60, you begin to turn the corner. ryan: and the 8.9 million barrels figure was from april. what do you see in may and june? mr. taylor: we think the number will come down a little bit more, but not significantly more. we almost feel we have approximately a stable state. i am always very nervous about reading too much into one month's production. [laughter] mr. taylor: this is an art, not a science. ryan: sure, so the u.s. has been much bottomed out in terms of production? mr. taylor: well, onshore -- there are some offshore projects that are and committed, but --

px and committed. ryan: we have a story about how the rig count had it biggest week of the, adding 11, which is not saying much how this considering how much it has fallen. producersmean shale are coming back? mr. taylor: again, coming back is an overstatement, but having gotten off the bottom of the curve, probably yes. ryan: you mentioned the basin -- a lot of the rate count increases happening there. mr. taylor: the economics of that base and look good. we're likely to see economic ascension in that area. costs are low. that looks like the best basin. crudeyou look at u.s. inventories spirit they stand at about 527 million barrels, down from 543, a 3% drop since april. if you annualized that, it would

be an 18% drop. mr. taylor: correct. ryan: can we anticipate that kind of steady decline in inventories? mr. taylor: you cannot extrapolate quite that much, but we do expect some. the u.s. still has a lot of oil there, and we are not -- we still have the ability, of course, in the u.s., to quickly import off the u.s. gulf coast. so, yes, i think stock levels are going to come down, as we expected, but no, i cannot see the market really roaring ahead, because, you know, we have got so much oil. ceoie: and that was vitol ian taylor speaking with ryan chilcote. now let's get to bloomberg's first word news at this hour. taylor riggs is in the new york newsroom. season,summer travel the transportation ministration says it is planning to use c.t. scan us to inspect carry-on

bags. the process is mostly automated, and security workers will check a bag of something is suspicious. the agency says it can't cut weight -- a good cut weight times by about 30%. in france, lawmakers are urging the government to overhaul the intelligence agencies in the wake of two terrorist attacks last year. a parliamentary inquiry concluded there were multiple intelligence failures. lawmakers say overlapping agencies should be replaced with unified structure. former secretary general has had his band from football cut from 12 to 10 years on appeal. he was fired over a world cup ticketing and broadcast rights scandal, plus abuses. he was later banned by the ethics committee for several charges of misconduct. and in california, nasa's mission control celebrated as a solar powered spacecraft entered jupiter's orbit. it took almost five years to

make the trip. it was spent 20 months circling jupiter with the goal to explore the gravity and magnetic fields. global news 24 hours a day, powered by our 2600 journalists in more than 150 news bureaus around the world. -- in more than 120 countries. i am taylor riggs. this is bloomberg. julie: thank you. we are awaiting president obama and hillary clinton, and they have arrived in charlotte, where they will hold a joint rally. it seems unlikely, perhaps, from what we are hearing from the white house spokesman josh earnest, that we will get an official comment of -- from -- director james comey saying no official charges would be filed against clinton in the e-mail server scandal that has been playing in presidential candidate over the past several months. vonnie: we did find out the white house had no advance notice on the fbi remarks, and did not have time to prepare any

reaction, so we do not expect the president to say anything about it, as you said, julie, but we will be monitoring. you are watching bloomberg. ♪

vonnie: and we are looking at live pictures of air force one. it just landed in charlotte, north carolina. it is carrying president obama and hillary clinton. the two holes in their first

joint rally later today. just hourslso comes after fbi director james comey said the bureau would not recommend criminal charges in clinton's handling of classified information while using personal e-mail. white house press secretary josh earnest says earlier it does not know if the fbi looked at white house servers, and he said it is unlikely the president will discuss the decision at the event. he said the white house was not advance -- in -- aware in advance of the remarks and did not prepare anything. vonnie: once again, collated asssify the information careless. dir. comey: 110 e-mails in 52 e-mail chains have been determined by the only agency to contain classified information at the time they were sent or received. eight of those chains -- vonnie: once again, we're watching the president and hillary clinton approach a

podium. they will campaign together here in charlotte, nortnorth carolin, the first joint campaign since we got the fbi decision. no justice decision yet, however. julie: for more on this and how it can -- impacts the washington megan, want to welcome who is in town with us today. no criminal charges are to be recommended, yet he has some strong language, scolding clinton, and presumably her staff by extension. so, if this done? do we have to hear about this anymore, or will it linger on? megan: this is never done. it will continue on and on. yes, there are no criminal charges. publicans are not going to see their dream of hillary clinton being let off onto a chain of indictment, but what they do have is this scorching personal rebuke of the secretary, saying

it was extremely careless, and also that multiple people knew about this and should have known how they were exposing classical that classified information that it was exposed on non-secure servers. that is something donald trump and other republicans will use to continue to attack her. donald trump will probably have the sharpest edge -- might have lost the sharpest edge, but he is not lost the whole attack. vonnie: it does give him more fodder. the director came out with bombshells, like for example, there were more than one server, and they were dismantled after she was finished with them. dir. comey: there was more than one and they were -- megan: there was more than one and they were dismantled, but also said there was no intent shown to delete classified information or to transmit classified information. they did not think a prosecutor would be able to make a criminal case there was intentional dissemination of classified intermission on nonsecure channels, but you are right in that in a lot of what he said

today this was an unexpected statement after the long holiday weekend, really taking the thunder away from hillary clinton and the president on the first day they are campaigning together. this is all anything -- all anyone will be talking about. it is unlikely we will see the president or hillary clinton say much more at the event now. andas interesting timing, it does flip it back to the political center piece of the storm. julie: and the fbi investigation -- what it did not really answer is why? clinton had said it was perhaps a mistake to do this. james comey said clearly it was a mistake and they should've known better. so, what was the motivation for setting up the servers in this way? megan: it depends on who you listen to. if you listen to hillary clinton, what she has said repeatedly is she used it for ease, that she had it on her blackberry, she wanted to keep it simple, took what her husband had set up prior. the other flipside is the language has slightly turned,

and it is clear from some of the e-mails that have not been released that she was conscious of the need to protect what she considered personal e-mails, and we all love the stories of what she said -- i do not people reading about my yoga pants or seen what i am doing. she said she did it for ease and convenience, but the e-mails show she also did it to shield personal e-mail from being publicly recorded. vonnie: donald trump has been tweeting, and i want to throw up one of the tweets that came out. "fbi director said crooked hillary coppermine is national security -- no charges. wow. #riggedsystem." does he have a point? megan: donald trump will play this as long as he can. what is more surprising is the reaction of paul ryan another senior republicans. james comey is a respected and popular figure on both sides of

the aisle. what we saw from paul ryan today was strong criticism of the decision not to press charges. that is going to open another political channel. if we see other senior republicans -- donald trump, we fully expected to get everything in this report apart. what will be interesting is if other senior publicans jump on the bandwagon and say this is a rig system, she should have been charged. obviously, it will still go to the doj, but this is something that the republicans may round the wagons around as well. julie: james comey was almost on the defensive at the end of his statement, saying it was a thorough, impartial investigation. "i'm very proud of the fbi staff for the investigation they conducted." are noteven if charges warranted in this case, that is not to say that if there were a similar case again that there would not be charges that would be warranted. it really seemed he was trying to say this was an investigation with integrity. megan: i think there are a few things that are going to keep coming around this.

one, she was interviewed three days ago. they wrapped up their calculation of this within three days. the other thing, this meeting with loretta lynch and bill clinton on a tarmac and how that injected another series of politics -- why they would do this -- that is one thing with hillary clinton and her campaign. there are many things you sit back and your brain and say why did you do this -- why did you choose to have this meeting, why did you choose to set up the e-mail server, and it feeds into the overall level of mistrust that surrounds her and why her unfavorables continue to be so high. a question me ask about james comey to review said he is popular both sides of the isle, but in his two public outings, there has been a definite bias. an, is it supposed to be independent organization free of all politics or no? megan: it certainly is an independent agency free of politics, but he has found himself drawn into situations that are above all politics.

his is another one. with apple, on the obama administration, they could come together on that front. it is going to see how a figure such as himself who has been seen as a straight shooter, there is a litany of comments from senior republicans and senior democrats praising him, respecting him, and now he has injected himself into the center of this political fire form. whether or not hillary clinton will be able to extinguish it, by saying i have done something wrong, i have always said i it,ld not of donut, -- done or if she will continue to plow on with president obama in charlotte would be instead to follow. julie: thank you for being here on this day as we talk about what is going on with hillary clinton. we are waiting for the president and hillary clinton to speak sometime in the next hour. they are in charlotte, north carolina, appearing together for the first time in a campaign event for hillary clinton. unclear, perhaps unlikely they will address fbi director komi

--james comey's comments today, but it will be in thing to watch. hit by coming up, tesla production concerns as the company cut its forecast for global deliveries. does the electric car maker serious problems managing as factories? this is bloomberg. ♪

this is bloomberg markets. i am vonnie quinn. julie: and i am julie hyman. vonnie: all right, shares of tesla are falling, but off of lows. they missed the second-quarter forecast for global deliveries and lowered its full-year forecast. editor at large cory johnson joins us from san francisco with more. we have heard this before, missing forecasts, that there is a definite goal to be at 500,000 by 2018. is it doable?

it is an adjusting announcement -- the timing has to be highlighted. when would you want to put out an announcement when nobody would notice -- you cannot make a better day than july 3, a sunday in the middle of it -- three-day weekend. they could not completely bury the bad news. then they put enough is that how many cars they said they were producing at the end of the quarter. they were able to produce cars faster, but seldom lower. delivery,atters is and we have seen deliveries miss estimates two quarters in a row. it is not a positive sign for tesla. julie: why is tesla having issues here? they have said in the past that various parts of their cars are more difficult to produce than they had anticipated. is that what appears to be the issue here? is it sourcing? what exactly is going on? cory: the underlying question is what is demand like for the model s, and how long can that demand go on?

they had committed sales and pockets of the country. i was struck yesterday, fourth of july, this parade i go to every year used to show off a tesla. it was a big event. it there are so many tesla's is a very common thing. the market for this -- call it $100,000, i think the average year,was $94,000 last what the market is for that, for -wingedel x and it's gull doors -- it has a special appeal, but special limitations. you add to that the issues that came up last week. although the company knew about an investigation into this autopilot death, a driver using their much-hyped autopilot feature, they knew about this going to a stock sale and a secondary offering, and elon musk selling a lot of shares in the offering. in thed not disclose it offing. only when the national

transportation safety administration shared the fact they were doing this investigation did tesla admit to the problem, a disconcerting want to be sure. julie: you said there is a question of whether tesla has limited appeal or limited demand in the certain pockets. hasn't the conventional wisdom been that demand is not the issue -- supply is the issue -- that there is this demand, it is just a matter of whether they can make the cars fast enough to keep up? great point. it is a luxury vehicle that has limited capabilities. it is a little cooler than your average luxury vehicle, somewhat i. the question is how big could the market be? tesla has suggested they had no idea the market could continue to expand and they can make a lot of cars to fill the market. the ultimate question is how big is the market for the model x and the model s, and can they produced the model 3?

there is skepticism about when they will actually come with that car and what it will have in terms of feature at third one-. ---the price -- one-third the price. can they be as successful as the model s has been already? cory: thank you so much, johnson, talking about the ever-fascinating test appeared you can catch more on "bloomberg west" at 6:00 p.m. vonnie: coming up next, michael holland gives us his outlook and his top picks. plus, a look at stocks more broadly. this is bloomberg. ♪

vonnie: it is 3:00 p.m. in new york, it p.m. in london, and 3:00 a.m. in hong kong. julie: welcome to bloomberg markets.

vonnie: from bloomberg world headquarters in new york, i am vonnie quinn. julie: and i am julie hyman. we are taking from london to beijing to washington. here's a we are watching. vonnie: stocks swoon to start the trading week. energy and metals lead the decline is oil prices decline. the vti crude has its biggest drop in five months. julie: which stocks are poised to break out -- we will talk to mike holland. he sees value in and son mobile, child, and jpmorgan as well -- as well as others. fedie: how long can the delay the rate hike. bit.ly is looking for a dissent -- bill lee is looking for a december rise. julie: stocks are hanging around their lows. i have been all day. shery ahn joins us there. shery: