were highly scrutinized for whatever it is worth. that is such a big accomplishment. how has motherhood changed you in a way in your approach to business? marissa: so much about yourself and having children. my children are amazing. motherhood is an incredible experience overall. you aren't a lot about yourself. had qualityat i time with my kids, but i love to work and have that impact and overall about it. my parents are visiting this week and i had to laugh because yesterday, my son came out and we were making plans for dinner and he said, you will do boring calls and i will kick the ball and then we will have dinners. my three and a half-year-old knows what a board call is.

to me, it has been a blend of , where i get my quality time with them and watch them grow and learn in my background, artificial intelligence, basically how people learn. to watch her own children learn, it is incredible but also, i love to work and have a big and have that to bond with them over. it is important to me to keep going. with able to come up planted working style that incorporates them but still allows me to prioritize, it is important. emily: nice to hear you have some word all the way down to 3.5 years old. andk you for joining us thank you all for listening on the radio. jonathan, i will end it to you. jonathan: thank you.

to bring in the technology executive editor here at bloomberg. she talked about a change in the world at yahoo! did yahoo! change the world, to the world change in yahoo! didn't? isn't that the real story over the tenure? >> absolutely. , theave to look back company had a lot of opportunities to sell to microsoft. let's not forget. more than $40 billion several years ago. i am not sure how much better it would be under microsoft care but it certainly would have served yahoo! shareholders very well that time. thank you for say no to that one toot of things happened up and after mercer mayer took over. google just continuing to dominate search. face coming in and changing the way people used the mobile phones and the internet. all became social in yahoo! got

left behind it all of that. >> any chance marissa mayer kids her job? realistically, how does she keep any kind of job? >> i do not see that happening longer than a transition period. there are asset sales, cash, patents, a lot more unfinished is this within the old yahoo! company. there will probably be some kind of transition but i do not see how she sticks around. tim armstrong at a well and strong leadership at horizon. i do not see how she fits into that. she may end up in some kind of a role. we do not have any insight into that. jonathan: her way into the paycheck. looked.illion last we

alex kirk that wraps it up for bloomberg . bloomberg markets starts right now. vonnie: i am vonnie quinn. mark: i am mark barton. a lot to cover in the next hour from turkey to yahoo! and the verizon deal. let's get over to the markets. shery ahn has the latest. downward seeing pressure in the u.s.. .3%.ow jones, the s&p 500 also down .3% and remember, that is a or four weeks of gains, the longest since march. also reversing friday's these gains, investors are cautious. we have the fed and the bank of japan not to mention that they are weighing corporate earnings. take a look at the s&p 500 futures overnight.

today, you the open can see this plunge their for the futures contract. what are the egg losers in the s&p 500? a look for industries down one and 6% after they announced -- made after the markets closed on friday. analysts saying this could increase the possibility of strategic investment or acquisition. ,lso downgraded to mutual financial down more than 2% after seeing a weekly game. take a look at some of the winners on the s&p 500. that, that was the adoption -- i have to excuse myself when we were talking, they were heard by spending cuts in the oil and gas industry. whole foods market up more than

2% there and cap gaining more than 3.4%. take a look at oil, now at the lowest since may 9. is affecting the oil companies right here. u.s. producers have increased drilling for the fourth week. heard from orissa meyer there, and their stock is down 1%.or yahoo! and half of check it out, there is the stoxx 600 and almost all of the industry group rising. we have not risen two consecutive weeks since may of the 27th. still, europe's benchmark is still 1.3% below the level it closed on on june the 23rd. what happensll you

on june the 23rd of european stocks remain in love despite the fact they are very cheap relative to their peers and relative to bond yields as well. this is exactly what the chart tells us. bank of america merrill lynch tells us the european equity outflows for 24 straight weeks, last week, $6.2 billion out flow was a record. the s&p 500 50, you look at estimated -- it is at a record low. the bloomberg eurozone sovereign on index yield is much lower than the yield on the stock 50. that is a wonderful chart. you can check out ryanair, shares, they were hire earlier. discount,iggest surprising investors earlier by reiterating its 2017 profit forecast.

under pressure because of brexit and terrorism. the chief executive has been boosted -- booted out the door after 6.5 years at the helm. the stock slump competition has intensified in the maker of --eless networking gear has 2.5%. up i-4t 6.5 years percent, stoxx 600 up by 90%. vonnie: an unexpected rest nation. thank you. hillary clinton as the party's presidential candidate. please e-mails show democratic staffers wavered clinton over bernie sanders during the primaries. margaret joins us now from philadelphia, the site of the d and the. doesesignation, how much

that hurt the dnc through the convention? >> they were really hoping that by letting it be known she was step down, they would get a koch mercy out of the way, clearing the air will have a democratic party to come together for hillary clinton. that could still happen. judging by what happened this morning, debbie showed up and some of the sanders contingent was booming and sharing -- rather than sharing. out when she takes her role gambling in the convention today. hillary clinton and her team have been supportive of letting them maintain that role. she has agreed to go so let her have her moment in the sun here we will see what happens going forward. >> looking at the event, being

heckled this morning, i want to ask you, how much do the revelations first sanders' endorsement of hillary and the potential of his supporters to move to hillary's camp? >> it is in their thing and causes some hurt feelings to have, the dnc is supposed to be a neutral party and they were saying the odds were stacked against him. coming from outside the democratic party, running as a democrat, it is not terribly surprising that the zone -- not the sort of things you ever want to eat for a group that is supposed to be neutral. bernie sanders will put this to the test tonight with his own primetime and finale speech in support of hillary clinton. the campaign manager telling us now at the bloomberg >> is that he is very confident that bernie sanders will have a strong endorsement of hillary clinton and give a straight -- a speech tonight.

not talking about how much of this has been worked out behind the scenes, but he has reason to believe with confidence that bernie sanders -- a strong endorsement of clinton in his remarks tonight. mark: really quickly, paint me a of the lineup versus what we saw last week at the republican convention. did not have the former republican president there for donald trump. john kasich would not even come here it you have bill clinton, he has to be here, you have all of the major rising stars and it this thing starts of the demo that it party. obama, hereichelle to support hillary clinton this week. vonnie: thanks. from our bureau,

thank you for joining, john. you have written a note about the historic election year and stocksy have impacted usually for the better. >> we think we could get the typical election-year pattern. we get a lot of volatility and fourth-quarter rally when it becomes clear which of the two candidates will win. the conventions are a little bit earlier than they have been in the past. fourth-quarter rally, back to 1960, except for 2008. >> we have the federal reserve meeting this week, and i just wanted to dip in and show viewers five-year yields. that is interesting at the moment.

inflation expectations are showing expectations for an asreased the not as strong the fed futures. lindsay you anticipate the fed will move? offhink the fed will take in the summer and september. they want to target the september rate hike. before. a meeting right i do not expect any hint at all in this week'statement that a high on the table. the jobs data is better, i think the fed is on target to do at least one more in december. look back in history, what are the best permutations,

democrat presidents, split congress, republican president, republican congress, what ads of the best? >> there are a lot of different permutations of those and we have to watch with those that some of them will not happen very often. you get a republican president and all democratic congress, it is a good outcome that does not happen very much. what markets are looking ahead a now is the likelihood of democratic president and a split in congress. returns there are better than average. there are key areas where the candidates agree and disagree that are worth taking a look at, for example on the financials service side, both parties are in waiver of taxing carried interest and in favor of repealing glass-steagall. both of those could happen regardless of whether there is a win.

mark: i want to show you one of my favorite charts of today, shares. and that tracks it tracks shares that register as oversold on the momentum metric. it is very simple. if you pursued this momentum ofategy since the beginning the year, you would be sitting on a gain of 28%. it leads to the question, do strategies focused on the momentum reversals, do you think they will stay durable? the s&p 500 until recently basically went nowhere. >> we have been in a sideways trading pattern since the end of qe we have been in that narrow range. now that we have broken above the range, i think some of those

theing strategy, i think concern is we could have a pullback, typically in the summer before a presidential election. some of those oversold patterns into chaos. you probably want to wait until you get the polls have to have those work again. mark: thank you for giving us your thoughts. ,oming up, turkey rolling out we will review comments from turkey's prime minister. this is bloomberg. ♪

vonnie: i am vonnie quinn. mark: i am mark barton. with turn the focus. stocks tumbling more than 13% last week. turkey's is premised are ruling out elections and says the government plans a multibillion-dollar infrastructure fund to keep growth on track. he spoke exclusively to bloomberg on sunday. >> what we are saying to global investors is this has come and gone in the national will and , lifell of the citizens is back to normal in turkey and you can continue your long-term investment.

we will eliminate obstacles before you are we are we're laying out the carpet in front of investors are at we have all kinds of tax incentives, and we are giving priority to value-added investments. mark: the currency is todaythening the most among the emerging markets peers. still ahead, we are working to bring you all you need to know about the etf market. this is bloomberg. ♪

matt: i -- mark: i am mark barton. vonnie: i am vonnie quinn. a lot of -- a lot is happening this week. what you need to be watching in the next couple of days, shery ahn cover c.t.s. for bloomberg intelligence. >> thank you.

our etf guru from bloomberg intelligence arabic or a lot happening this week, including the fed meeting. how will that shape the ecf markets? >> nothing is more impactful on the etf in the fed. what i'm watching mostly is hyg, a high-yield debt index that most people use p are i have a these, when a cat is away, mice will play. hyg is where the mice play. any hint at hawkishness or a ite hike, and watch hyg have drained. it has taken in $2.5 billion in july. the fed will not do anything anytime soon, however, on friday, 260 million outflows. whether that is a leading indicator that people are before the get out

fed releases that statement, another one i am watching is the emerging markets edm. the emerging markets have had a resurgence in the past month. up 10%. if you're having a good year. but if the fed said something hawkish, it will be interesting to see if the money was real going after valuations in confidence, or is it just because the coast is clear and we're back to the cap and mouse with the fed? , howple earnings tomorrow is that going to affect the etf segment for tech movers? >> apple's number two if the fed is the most impactful. apple is the top holding in five out of six etf's. when apple went down about 70% it took $4 billion rate out of it the f. the one i'm watching, the spider tech ecf, the qs have health

care, and apple is a bigger waiting at 12%. if you see something bad in the apple turning, it has lost a couple billion this year and could get worse and if that happens, look at some of the smart beta to see some action. at the a 1% weighting, that lord forher way for people who want to play cap and way less apple in the etf. >> thank you for joining us. ahn, thank you for that. still ahead, the end of an era for yahoo!. horizon intense do with the one time internet pioneer. take a look now. the dow jones industrial average aboutbout .5%, 92 points an hour after the open. the s&p 500 down almost half of 1%. the nasdaq is down .2%.

the vix, above 13. mark: it is a similar story here. drifting lower. lower.following you the stoxx 600 is down for the third consecutive game. that is the worst losing stretch since july, a small gain in germany. stronger-than-expected survey. not as much as anticipated. ♪

. . [hip hop beat]

♪olympics 2016, let me get you on my level. ♪ so you never miss a moment, ♪ ♪miss a minute, miss a medal. ♪ ♪ why settle when you can have it all? ♪ ♪soccer to wrestling. track and field to basketball. ♪ fencing to cycling. diving to balance beam. ♪ ♪all you have to sa♪ ♪ is, "show me," and boom it's on the screen♪

♪ from the bottom of the mat, ♪ ♪ to the couch where you at? ♪ ♪ show me the latest medal count♪ ♪xfinity's where it's at. ♪ welcome to it all. comcast nbcuniversal is proud to bring you coverage of the rio olympic games. vonnie: live from bloomberg world headquarters in new york and london, i'm vonnie quinn. mark: and i'm mark barton.

let's check in with bloomberg's first word news today. controversy overshadows today's start of the democratic national convention. committees national chair will resign at the end of the week over leaked e-mails. at aas food and heckled breakfast of florida delegates with protesters shouting "shame." [indiscernible] >> the e-mail showed staffers favored hillary clinton and tried to undermine bernie sanders. a terrorist attack in afghanistan over the weekend shows the growing strength of islamic state. this was the country's deadliest assault in 15 years of war. islamic state possibility to carry out deadly attacks can't

-- complicates prospects were piece in afghanistan. the number of children killed or hurt in afghanistan's conflict surged in the first six months of this year. nearly 400 kids died, more than increaseded, and 18% compared to the same time last year. in rio dec village janeiro has flunked a stress test and australia will not let its athletes stay there for now. australian officials say they found blocked toilets and exposed wiring. officials say repairs will be completed this week. global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. this is bloomberg. verizon announced today it will be behind yahoo!'s core business for $4.8 billion. we got details earlier today

from the verizon executive vice president of product innovation and the aol ceo. acquisitionthe would scale up acquisitions and mobile ads. the yahoo! brand is an excellent brand and the yahoo! team is an excellent team. it fits into a larger strategy verizon has. what we announced 12 months ago on our original deal to what is key -- what is getting announced today, you will see a thread of straight focus and strategy. surprise. not a big was signaled that it is likely where it is going. losing money.n how quickly can you turn it around by putting it together with aol and other verizon assets? >> it is going to take a lot of work. we have a lot of confidence in the leadership and the talent at

yahoo! it will take some work to integrate it but they are brands people love and there are billions in terms of audience we can bring to the platform. we have a number of assets across verizon we will use to strengthen this environment. puttingit is hard work two companies together but we feel like we have the right leadership to make it happen. >> a lot of people may lose their jobs. when you merge the two platforms, that's difficult. tell me how you are going to do that. >> taking a step back, his problem he the most important time in global advertising. a fraction of it is digitized at this point and eventually, advertising will be as easy as e-commerce. we will be building with yahoo! a combined set of platforms to attract these -- attack the $600

billion industry. i think the integration will be focused on our planning process with yahoo! we can go through some of the assets, but if you look at the combined assets, the reason this willis different is you get incredible content all the way through our ad tech platforms. we will be serving over a billion consumers with some of the best brands in the world and some of the best ad tech in the world. in silicon valley all the time and we have offices there. the yahoo! team we spent time with, i think we have a similar strategy and there may be synergy in the deal that this is about growth and we are going to focus on the growth area.

cost structure is the third item. >> talk about who is going to be running what. it was a possibility marissa mayer would no longer be part of the deal. that for her personally, she is landing to stay. talk about who is running what. bithis process was a different. about who isking going to lead and what rules people were going to play. this one, we did not have the ability to talk about those things. tim and i will be out in the bay area and talk about integration plans. for verizon, tim will lead this integration and we will work

with marissa and her team and make sure we have the best talent. for more on this deal, let's ring in our m&a reporter, alex sherman, who has been on top of the story and broke the news of the $4.83 billion deal. give us the broad outline. what is verizon getting? is a play for verizon to extend its aol strategy and get into mobile advertising. this is in part of what tim andtrong has been running the idea is let's mary yahoo!'s assets and try to gain some

scale putting together advertising technology, meaning programmatic technology, plus some content. think about huffington post and other assets aol owns. content and eyeballs over monthly average users, you think about yahoo! as a legacy app that brings in a ton of traffic. mobile video, yahoo!'s content, aol's content and it will try to be what facebook is, making money from digital advertising. saw marni walden there for the first time. he be a replacement for marissa mayer? alex: she is a career executive in the phone industry generically and came up through

verizon. more recently, she has transitioned to work with tim armstrong, sort of the idea of wearing mobile video with advertising. contractsgotiated with content providers. , sports and all sorts of different content. will be on that in general in conjunction with tim armstrong to build the digital platform out. subset.a small this is not going to be verizon as we know it. that's small portion of what verizon is worth. before we ask you what

melissa meyer is going to end up doing next, let's listen to an interview with emily chang. >> immediately, have two priorities -- seeing the transaction through the close but watching the value of our asian asked that's. we will ultimately figured out -- our asian assets. mark: how long will she have to for fill those priorities? alex: this deal will have to close and yahoo! will have to do what it wants to do with its stakes. it did not sell its non-core intellectual property, so marissa mayer will theoretically preside over that as well as. you can imagine her staying on for months. then yahoo! will make a decision.

mark: where did it go wrong for her? how did it fail to reinvent yahoo! as an independent company? alex: in many ways, it died before marissa mayer got there. of smalla series acquisitions and none of them were able to up and the overall decline. there were a bunch of different stumbles before marissa mayer got here. i covered it heavily over the last seven or eight months and there's sort of an m&a world divide here. i've dedicated a lot of time trying to break incremental news here, but this is a deal for a company that used to be 125 ilion dollars. the name resonates with a lot of

people in the media and in the m&a world, people are bewildered we spend so much time covering this because it is a diminished business and not a game changing transaction. verizon will still make money from wireless providing and it's not a big acquisition for verizon. they could be doing something much bigger, but it is something of a safe bet. bloomberg's alex sherman telling us every thing you need to know about verizon and yahoo!. coming up, is the international onmpic committee falling cleaning up the games question mark we will look at how doping scandals are dividing world sports agencies. this is bloomberg. ♪

vonnie: you are watching bloomberg. i'm vonnie quinn. i'm mark barton. here is your global business report. verizon is the winning bidder for yahoo!. it gains a big share of the nearly 200 and dollar digital advertising market. erickson is looking for a new ceo. russian athletes dodge a ban from the olympics. we will look at how they are dealing with doping scandals differently. yahoo! path to decade run as an independent company is over, agreeing to sell its assets to verizon for 4.8 ilion dollars.

they became a dominant player in the early years of the internet ge. they are buying services that drew one billion monthly users. the vice president and aol ceo to they intend to use yahoo! capitalize on the digital advertising business. yahoo! will change its name as it raises its stakes in japan for a combined market value of $40 billion. mark: amc entertainment has resumed its shopping spree agreeing to buy a georgia-based enema for $1.2 billion. amc had to sweeten the offer after some shareholders rejected an earlier it. of aeal comes on the heels purchase of od on -- odeon.

erickson is looking for a new chief executive. its departure cap's a turbulent time for erickson. the company said it would speed up costs cut after reporting disappointing results. donna karan international has a new owner again. they have sold the fashion label turn itfailing to around. the deal is valued at $650 million. donna karan stepped down as chief designer of the label she founded in 1984. vonnie: time now for our bloomberg quick take. for some of the best athletes in the world, and doping has turned

into a long-running cat and mouse game. the world anti-doping agency called for the entire russian team to be banned from the 2016 olympics after its reports sochighted doping at the games. the international olympic committee decided not to go ahead with a full hand. than 50e exposed more athletes for doping years after. here is the background -- the international olympic committee began prohibited drug taking in the 1960's but thanks to advances in pharmaceuticals, it has thrived anyway. cycling, baseball and track and field have seen hope prop -- profile athletes tumbled from grace. that includes alex rodriguez, lance armstrong and ben johnson

and marion jones. iti-doping enforcers say will never be eradicated and we need more power to keep notching small victories. according to the longest-serving they remainagency, in a state of catatonic and unpersuasive denial and too many people involved do not want the system to work. you can read more on the bloomberg. head to bloomberg.com for more stories. biggestrope has discount airline, ryan air surprise investors by sticking to his 2016 profit forecast. it plans to lower fares even as the brexit vote and terrorist scares raise demand. spoke with the cfo on the company's outlook post referendum.

>> if we could not stay in the open skies area, we would have to make a decision as to whether we would cancel those roots. it's more of a challenge for competitors based in the u.k. as to whether they would be able to fly into europe and that may open up some opportunities. >> can you talk about this is it away from the u.k.? you've done contingency planning. where is the prime pivot to? >> we are taking 50 aircraft deliveries this year and next year. we still have airports seeking our aircraft. >> who is at the top of the list? >> whoever comes in with the best deal, as is always the case. in portugalto grow

and eastern europe and poland is a very exciting market for us. we have a huge amount of scope out there for the aircraft. low, with the ongoing terror threat, that people want to travel a lot less than they did? topeople are continuing travel in numbers. the great thing about ryanair is because we have a lower cost, we ,ave the lowest fares and yes when there is a terror event, you do see a dip in booking, but if the price is right, people tend to travel. ahead, time could be

running out to see the world's remaining silverback gorillas eesti face. we will tell you how to get up close with them in our pursuit segment, next. ♪

vonnie: mountain gorillas are the largest and rarest primates on earth. there are fewer than 900 remaining. now is the time to trek through the heart of africa and the them tasty face. you did travel to the heart of africa. how did you do it and how much i'mcost estimate guest: based in the congo, i live in the capital about 2000 miles further wes.

it'sw in from there and becoming easier and easier to get there. adventurous trip, but you can fly in 3-d ethiopian airlines or fly and through rwanda. tourism in this one particular park are really impressive in the last five years. it is something very achievable. mark: what is it like coming face to face with a silverback? it is remarkable. it's truly one of the most unique experiences anyone can have in the world today. the gorillas are so powerful and so playful and also so human. to get close to them and experience them in their natural habitat and just watching the interactions between the different family members -- they

tend to live in family groups between 10 and 30. when you watch them, we spent 60 minutes with them, it's like watching any family anywhere in the world. normalhis is not your ng adventure. where would you put it in the adventure holiday experience? guest: it is right at the final frontier of what a lot of people might be comfortable doing. what they are trying to achieve with a beautiful, luxurious high and resort where you can stay up in the forest and mountains and the logistical support taking you out to these gorillas, today , it is very safe.

when you get over the notion of traveling to the congo, it is very achievable. read about luxury at bloomberg pursuits on the bloomberg. close,up on the european german confidence data showing companies may have withstood the initial shock of the brexit. assets poised for their best day after the prime minister talks about plans to set up multimillion dollar funds to set up economic growth. we are 34 minutes away from the close today in europe. looks like stocks could finish the day lower. ♪

in new it is 11 a.m. york, 4 p.m. in london and 11 p.m. in hong kong. from bloomberg world headquarters in new york, i'm vonnie quinn mark:.

mark arden.n, i'm you are watching the european close on bloomberg markets. -- i mark barton. we are going to take you from philadelphia to london and cover stories out of turkey and japan in the next hour. here is what we are watching today -- german business confidence falls in july. signaling the biggest economy in europe may have withstood the initial shock of written's vote to leave the european union. written's vote to leave the european union. a seriesies -- vonnie: of investigation at ericsson led to unease. and nintendo plunging in tokyo by the maximum amount of