vonnie: we are live at bloomberg world headquarters in new york over the next hour. covering stories out of san francisco, washington and turkey. david: stocks are treading water, not making big movements ahead of tomorrow's jobs report. vonnie: and after visiting mexico, donald trump continues to campaign on immigration reform. his rhetoric is forcing hillary clinton to change your strategy. -- her strategy. david: and they talk about the 2016 campaign and the recent u.s. op-ed on the tax returns. vonnie: we are two hours from the close of trading. the first session in september, see where things stand with the majors. not a lot of movement, but we are improving as we approach closing bell time. the dow down 16 points to

18,000, less than a 10th of a percent. as of the down three points, nasdaq higher 0.1%. the jobs impacting tomorrow and the isn manufacturing report, and all sales which do not show positively. it is 39 now are you have a 1% move for the major averages. david: they are looking for that day by day. let's look at some notable company lagging today. we start with campbell down after the organic foods division not reporting sales in line with what the company hoped. we talked yesterday about their inquisitive nature of the next few quarters, down 5%. cosco down, sales down 1.3%. we see it now 3.3 percent. looking at solar city, also down , and tesla.

a notable loser, concern over cash burn. 70% of cash on the second quarter from 2015 and 2016. vonnie: and the oil is low. after four sessions, it seemed like wdi dropped 8.8%. it is down more because it is leaving desk even further now. the russian oil ministers seeing no need for production output cap. that is affecting things. david: now let's go to first word news with mark crumpton. mark: the u.s. geological survey reports a strong meta-dude 7.1 earthquake -- magnitude 7.1 earthquake off of the northeast island of new zealand. no injuries. a tsunami warning has not been issued. the spacex falcon 9 exploded on the launchpad in cape canaveral, florida. nasa says spacex was testing the firing of the unmanned rocket when it occurred. this was routine.

it was in advance of a planned saturday launch from the cape canaveral air force station. buildings miles away were shook from the blast, and smoke interviewed for several minutes. this spill the overcast sky. the rocket -- failed the overcast sky. this was also part of facebook's plan to use the satellite to bring internet service to areas of sub-saharan africa. hillary clinton leads donald trump by seven points in the .atest nationwide poll this is suffolk university usa today saying likely voters has mrs. clinton with 48% and donald trump with 41%. in a four-way race, clinton gets 42% to donald trump's 35%. gary johnson has 9%, jill stein has 4%. top european union officials urging turkey to stop these antiterrorism laws of the eu can lift visa restrictions, a key

incentive to stop migrants from crossing the agency. -- a gnc -- aegean sea. this comes in the aftermath of the failed military to which resulted in -- coup which resulted in thousands of arrest. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am mark crumpton, this is bloomberg. back to you. now,e: back to markets there is a major shift on the way in the energy business. solar and wind are gaining traction. we look at american electric power, one of the largest utilities. it has 700 jobs, but over 17 years, it plans to add 19,000 megawatts of wind and solar across the state networks. how will that impact the energy economy? , wethe fossil fuel shift

have a man to comment on that now. he lives in columbus, ohio. he is investing heavily in making solar and wind. any acquisitions on the horizon? >> clearly we are making a transition. there is a whole transition in the industry. you will continue to see migration to solar, wind, renewable, energy storage along with the natural gas to support that transition. there is clearly a very positive transition that is occurring. that will continue to occur for years to come. david: we had a bloomberg report earlier this week about the white house planning to on the l a new rule for energy companies foro unveil a new rule energy companies. there has been a lot of red tape with the permitting process. how would that hurt or help you? nick: it has not been a hurdle for us as far because we -- thus far because we are building on

private land and looking at universal scale solar. it would be useful to building jurisdiction areas, but universal scale solar is continuing to focus on not only communities but also particular areas of the u.s. we have been building solar throughout the u.s. for a time now, and we are very productive added. it is one of those things where universal scale solar is what is called utility scale solar, much more efficient, half the cost, same environmental benefits, and we do it quite well. vonnie: lower than forecast prices this summer for power. how does that impact the business paid or is it impacting any sales or acquisitions you might be in the process of making? nick: it does affect us because it affects jobs and job creation . when you see oil prices come down, natural gas prices come down, it has an impact on the economy. on one hand, you see some

benefits in the economy by gasoline prices and so forth being lower, but at the same time it is affecting manufacturing in oil and gas and mining sectors. we are seeing the natural resources side, oil and gas, 22,000 less jobs in those counties, year-over-year, so it is always good to have increasing oil price and natural gas prices so we can see more production come online. david: you put power plants on the block to sell coal plants and gas-fired plant. can you give us more information on the status of those sales and how far along you are? nick: that process is ongoing. it is moving toward somewhat of its final stages. we have had robust interest in those types of resources, and we will continue to evaluate that from a strategic perspective. hopefully we have a result very soon. it is all part of that transitional mechanism we are

going through to make sure that we can move through the energy future we are looking for, and obviously being unregulated in go with ours investors views of earnings. vonnie: what will you be making to the ohio legislator in order to keep those towns you want to keep under your uncontrolled? nick: with the ohio legislature, we are pursuing restructuring, not re-regulation. this is focused on the feature. as how we are able to build more renewables, put natural gas in this state, but focus on the ability of the state to define his interests in terms of the energy consumption in the state and the resources that supply that consumption. it is extremely important for ohio to take matters into its own hands, particularly if you have a clean energy plan or some form of mechanism that you are

forming. ohio can really take a look at that and define its own energy context of jobs, taxes and the creation of infrastructure. david: you mentioned jobs. last question, we will get them climate report tomorrow. we willtalk about -- get the employment report tomorrow. can you talk about how important this is, when they raise rates, how that will affect you? nick: certainly substantial because we are in energy territory. midwest and southwest of the u.s. earlier, oil and gas sectors and the mining sectors are extremely important. manufacturing is a big part of our customer load. particularly a third of our load is industrial manufacturing, so whenever you have an impact associated with that, you will see chemical manufacturing being impacted. ultimately, oil and gas and mining of course.

and what we have seen on the positive side is automobile manufacturing, those types of things that are taking off. travel and leisure. those are doing well. any energy-related infrastructure is going to have an impact particularly in terms of oil and gas and mining. david: i appreciate that. he is the ceo of american electric power. still ahead, former goldman sachs partner steve working for donald trump. when he hopes to get in the white house. ♪

♪ marketshis is bloomberg , i am david gura. vonnie: it is time for the

latest business flash, looking at the biggest stories in the news right now. tpg is wanting and tell. this is according to people with knowledge. they have held preliminary talks as as muchand mcafee as $3 million. david: cicada is developing a vaccine for the zika virus. they will receive about $20 million to fund research and manufacturing. human trials next year. visae: lisa is inviting -- is inviting talks between lenders. the test will determine if the block chain based solution can help with settlement times and credit risk transfer. that is the latest business flash. david: donald trump's fundraiser comes from a place fans love to

hate, goldman sachs. he surprised many wall street friends. he was in the latest bloomberg businessweek. carol massar spoke to him. he? ephen menu 10, who is >> he is donald trump top fundraiser. he raises all the money trump needs to beat hillary clinton in the general election this fall. >> do they know each other? >> if you asked me how i know zach, i will not reveal it. they work together on deals. one of them ended up in a lawsuit, but he says he is an old friend. donald trump in the washington post said he does not have friends. that steve got an invitation to celebrate that new york primary win, and even though he was going to a dinner downtown, he thought he would step off. when he was at the cocktail

party, he could not find donald trump. he finally saw him and donald trump beckoned toward him and he joined him right of the escalator, and suddenly he was on stage with donald trump at the rally, and he was like, wow. and then he invited him to be his finance term. >> this is a guy well known to wall street, quite a pedigree. >> quite the pedigree. his dad was a monster huge trader at goldman sachs. .eople called him coach people call me coach. yale.lowed his father to he had interception salomon brothers in the 80's. he went to goldman. he worked for soros and at them chi.gy -- eddie mnu , the mostd in avatar successful film of all time, and bought a bank. zeb: what is interesting -- carol: what is interesting about

your story is the people who know him are kind of surprised hughes in this position. why is that? >> here is a guy with no background in politics whatsoever. he has given a little bit of money over the years. most of it was just favors to friends, raising money for clinton or obama. carol: lots of democrats. >> more than republicans. he represents all of these elite institutions that drunk fans are opposed to like goldman sachs -- from -- trump fans are opposed to like goldman sachs. some people were surprised to see all of a sudden he showed up not just as a trump supporter but a key person helping him get elected. david: you can hear that story in the latest bloomberg businessweek. we have the most talked about stories every saturday on bloomberg television. vonnie: staying with donald trump, we get to the immigration

speech in arizona. the shift in tone from his visit with the mexican president. donald trump: under my , anyone whoon illegally crosses the border will be detained until they are removed out of our country and back to the country from which they came. david: we are joined by craig gordon, managing editor. draw the contrast for us. yesterday he goes to mexico. not many people knew what to expect. there was a real definite difference. saw the appearance with donald trump and the mexico president, i had a sense in my mind it was like a kid being called to the presidents office. he was standing up straight, hair was nice. when up-ice oak, he was very called and level, very big gesture of saying he wants to be friends with mexico despite the harsh words he uses about the

country and the people. and then three or four hours later, he is on stage in phoenix , giving what is a classic donald trump speech, literally pounding the podium saying, we are going to cut off the illegal immigration, we will build a wall, get mexico to pay for it. even those who have been bothered with donald trump sort of had the whiplash seeing the two of them. that is something voters themselves a sea day today. in ohio we have the speech, the more low-key. makes it hard to cover. vonnie: nothing changed, he is still planning on working in the 11 million people from the united states as well as building a wall. is correct. all of his positions as we noted in our story this morning are the same as his website. they were published a year ago in august. positions have not changed.

donald trump has not done himself any favors. they have muddled their message a bit. the wall is not consistent. the deportation force, who will be deported, who is allowed in and not allowed in will be a hazard. even voters who are sympathetic or supportive of trump are wondering what exactly his current position is. that is not a good lace for a politician. donald trump won the republican nomination by really painting in very bold strokes and primary colors. immigration is tricky, there is a lot of nuances. when he goes into the nuances, he gets in trouble. you will see more of the donald trump that gave the fiery phoenix speech rather than the one in mexico. david: what have we heard from the clinton campaign about that speech, and can we expect secretary clinton to make a trip herself? craig: that is unclear. the mexican president did extend an invitation to both hillary clinton and donald trump.

donald trump with a stroke of political brilliance accepted this and said, fine, i will go talked toions den and a leader of a country he has been critical of. clinton thought it was probably funny. and they said trump choked, that is their word, because he did not when he said across from the president, really indirect we say, you are paying for the wall. -- and directly say, you are paying for the wall. says he can get the best deal anytime had a chance to cut the deal and he blew it. that was a funny way to attack him. vonnie: thank you. craig gordon is the bloomberg news washington bureau manager. very important programming note tomorrow on bloomberg television and radio, don't miss a very rare and exclusive interview with russian president vladimir putin. tune in all day tomorrow friday

to watch the exclusive conversation with the russian president. and on monday, you don't want to miss a one-hour special report. an externally rare interview. easternon monday at 12: , 5:00 london time. ♪

♪ vonnie: this is bloomberg markets, i am vonnie quinn. david: to the world of quantitative analysis, looking at hedge funds. these are all the rage with good reasons. of hedge funds is a wrong the best, returning north best, -- among the returning north of 20%. this is a contest that is a

classic machine learning puzzle. netflix would give $1 million to the person who could take their formula, there are rhythms for predicting what viewers -- their algorithms for predicting what people want to see next. lots of data guys and girls. are really involved in this context. they are both doing really well. jeffrey richards had his own hedge fund, could not get past the guy in front of him. called him and said, let's combine forces. and from there, they become really good friends. they have their own shops now, and fuller it is the number three hedge fund. and according to our rating, jeffrey woodruff is number 10. clearly doing well. vonnie: what makes them so good? dani: if you just look at their returns, david vogel, his three-year annualized return is

29%. .effrey woodruff, 46% so think about what hedge funds are doing right now. if you look at hedge fund research index of equity hedge funds, they are down 2%. so these fundamental guys are saying what our quads doing that we are missing out on? computerized trading, we are getting beat out by these small main stories. virginia and florida in this lease have a much smaller staff, and their returns are close to 50%. david: how forthcoming are they about talking about the various algorithms they have come up with philidor dani: they don't want to give away their questions. this is not as realistic. kind of interesting because i talked to jeffrey at length. this is not as realistic. describe what you are doing, and he said he developed it when he was 22. he is 47 now. he was a recent college graduate

from the university of virginia. --got stuff from the radar library. three days, no sleep, he would drink pepsi-cola to give him a nice edge, a little advertisement for pepsi if they wanted. we come up with this form you love it takes factors like volatility -- formula that takes factors like volatility. and there are nearly 10,000 of them, they made a formula. vonnie: that story is incredible. thank you for that. do check it out at bloomberg.com and on the bloomberg. still ahead, troubles. ♪

♪ david: from bloomberg world headquarters in new york, i am david gura. vonnie: i am vonnie quinn. let's look at first word news. mark crumpton has more. says gov. rick scott

tropical storm hermine is potentially life-threatening. he is urging gulf coast shelters to take immediately. they expect storm surges, flooding, power outages, high winds and downed trees when hermine comes ashore. forecasters say it would likely become category one before it strikes the upper gulf coast later today or early friday. tropical storm warning for madeleine in hawaii has been canceled. it has been moved to the south of hawaii's big island. that will feel the effects of strong winds. madeleine was downgraded even though it brought. some of intense rainfall. hurricane lester continues to track to hawaii. a storm warning has been issued for hawaii county. florida officials found zika virus in trapped mosquitoes. that is the first sign in the

continental u.s., and three mosquitoes tested positive in miami beach. this is devlin -- disappointing but not unsurprising. intensive trapping and testing continues. alain, the french spiderman, scaled this skyscraper outside of paris. it took 55 minutes. his other notable clients include the empire state building, the taipei 101, and the towers in malaysia. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am mark crumpton, this is bloomberg. vonnie: let's get an update on the trading session. at saint -- smb and down still lower. nasdaq now with abigail. abigail: the nasdaq is ever so

slight a higher. they are outpacing the dow and the s&p. one of the top winners is wynn resorts. this is on the news that much ggr is up, the first rise in 27 months. 1.7%.was a decline of investors have been looking for a big turnaround in the fundamental for wynn resorts. this may signal it is happening. and some investors betting on the turnaround could be pretty happy. this stock is up more than 35% year to date. dragging on the nasdaq in a big way, cosco shares. they are having their worst day since december 2014. the biggest drop on the nasdaq after cosco did miss same-store sales estimates, which came in unchanged. there was supposed to be a gain

of 1.3%. this has sent shares of cosco down from recent record highs. perhaps investors are pulling back from this premium discount. they will be interesting to see what happens in the future with all of these different retail trends going on. david: thank you so much. let's go back to politics. the fiery campaign rhetoric intensifies. donald trump and hillary clinton divided, but there are a few topics they both seem to agree on. that includes carried interest. they have both called it a tax loophole that benefits the rich. here, we neediter to demonstrate a little more patriotism and a greater sense of fairness even if it affects our pocketbooks. a vocal supporter of hillary clinton. in that piece, you write about how 40 years ago your meeting with the accountant convinced

this was going to disappear. how has it remained so sacrosanct? alan: i should give them some credit. he is retired in florida. he reminded me this conversation goes back to 1969. in some respects, back to 1939. it has been around a long time. my feeling is this has been a pregnant issue for a long time. we had a good holiday. ilot of people commented benefited from it, but i spoke out on this issue long before today. i really felt strongly enough at this particular time to bring a right to the forefront, someone who is up in the fishery of it. -- someone who is a beneficiary of it. vonnie: why hillary clinton? alan: it has to do with how they feel are valid issues. it should transcend politics. it has nothing to do with

changing laws. it have to do with characterization of a certain type of income and how it is interpreted. i don't think you have to pass any legislation. , but this is how the government is interpreting it. vonnie: there is an opportunity to raise income energy use this somewhere else. why would you not be taking this? alan: it is $2 billion is what the number has been quoted. , overallhe budget copper -- capital gains are $120 billion. this has to do with fairness. it has to do with what is right and appropriate. capital gains were originally brought into the system in 1909 is my impression. maybe a little later. that is the beginning of it. over the years it has had different centers from one year holding to tie -- five years, 10 years.

have yous been used to with long-term gains. it was saying you earn your money as you are today. your daily work, if you take your money out of the bank, take it out of the interest-bearing certificate and savings, and are willing to risk it, the government determines it is appropriate. many years ago, that capital if it is locked up for a certain time rather than trading in and out, should begin a better treatment. that rate has changed. so has the holding time. so this is not the question of carried interest. is it labor, or is it based on profits interest? that is the characterization of the income is what is being discussed. david: how much of an outlier are you? do others agree with you the time has come for change to be

made in? alan: i think a lot of people agree with me in the business. since last saturday when the article appeared, i don't want to overdo it, but certainly well over 50 e-mails have come in and called, and people have treated it, put it up on facebook. it has gotten broad circulation not because of me. it is bringing the issue to the front. some of those have been people who are beneficiaries of that, not an enormous number, but enough. and for the same issue. they always believed that it was not capital -- it should be capital gains treated. that is the way it is. there are lots of prominent people who would disagree with me. vonnie: you are hillary clinton supporter and fundraiser. [indiscernible] alan: i spoke to her about this issue, not recently. out on theeaking

effort of hillary clinton or her proposal. it happens to be that i did have her here. i'm going back six months or year, and talk about this issue, but she was aware of this. she is doing because he believes in it. david: i spoke last week to someone from charles rivers adventures. they have a very helpful -- colorful headline condemning donald trump, making the point that when you look at the vc space, immigration is important to companies, who starts them, often from immigrants themselves. when you assess who to vote for -- long-term hillary clinton supporter as you are, how do you see this? the: i am troubled by social issue. the moral issue, and as a citizen. i'm not troubled by it as a venture capitalist. have a v bringing in intelligent people, already intelligent

people, that is good for ichnology companies, but they'll look the same thing, the right thing to do. that is where you get the answer. vonnie: why not take a bigger position? you said you would raise $2 billion should it occur. why not make more of a statement? alan: you mean why not intimate all capital gains? i think that is different. that is, that requires legislation. that means you have to change the tax code. this has nothing to do with it. change in capital gains would change the whole philosophy in deskg whether you see this from nine to 5, 4 in the morning , or use it back -- you sit back and think your money should be

different. i happen to support capital gains treatment. the use of them is a good mechanism to incentivize. i have been a big proponent of something called the past act, which has been around for a long time, but made permanent in december, which gives good incentives for investing in young companies, holding your money invested for five years or longer, limiting the amount of money and games you can have. that was a very good decision to incentivize all investors in people who start up companies, entrepreneurs, to say you can get rewarded for making that, taking that risk. that is a positive. i don't think we should eliminate capital gains has a class. vonnie: we will have to have a longer discussion. cofounder of gray rock. caterer flowers talk about the dress and the wedding of $80 billion.

we will talk economics of saying i do. ♪

♪ vonnie: this is bloomberg markets, i am vonnie quinn. david: i am david gura. the podcasty week, looks at the inner workings of the global economy, and this is about weddings. this is an $80 billion industry. couples shell out an average of $30,000 for their big day. why so expensive? we look at the benchmark hope case smith and another person who will soon be a married man.

looking at the 30,000 on average for a wedding, that rises quickly. >> it does. it was a once-in-a-lifetime opportunity. vonnie: one way of putting it. >> the vendors are aware of this and our host had a great story to tell about how, when he went to a central venue, they basically said $70 i had, which he said, that is cool. where is the ceremony? they said ceremony, you are getting married? it is $140 now. he was stunned they were so discriminating as far as weddings. david: how you are compelled to cap are about things you thought you would never care about. that is the mechanism about it. looking at napkins and having heated fights of the dollar of an afghan -- the color of a net in. -- napkin.

talk about the economic principles. traps in how the these get to be so expensive can be explained by things you learned in freshman year economics. one would be elasticity. -- i the white napped in am just throwing up numbers, i have not planned a wedding. is's say the cocktail napkin one dollar, and you want a blue one with a monogram and they say, it is eight dollars. that does not make sense. but if you want a blue monogrammed talk telenav can, you are going to -- cocktail naff again, you are going to pay almost any price. say you are planning a family reunion. my grandmother is fine with a white napkin. vonnie: and how do you explain it, why do people make irrational decisions?

is it behavioral economics? brian: you don't want to be cheap, you don't want to get it wrong. dollarsay a few hundred but the vendor does not come through, which my vendors are going to, they are great, they are amazing, but it is a case where you have to make the right decision. you have to go to the vendors that fit your vision of the day. that is why you potentially accept higher prices than you would in a different scenario. [laughter] vonnie: you are -- david: your inner nerd to thinking it is expensive. to thinking it is expensive. maybe that contributes to you rationalizing more than you might otherwise. kate: that certainly could happen. one of the things you also mentioned brian was touching pay, you are willing to

those things. you are not in a situation where you want to make price cuts. it may be like getting weddings with sushi or brain surgery. if a doctor is coming, a brain surgeon comes in and says, whatever the other doctor says, i will have it for you. you will not jump on that. you are fine with the premium for the brain surgery. you are fine with the premium for the wedding. david: thank you very much to both of you. you can hear more about the podcast on itunes and also bloomberg.com/audio and of course on the bloomberg. tim cook says $14 billion tax fund the eu levied is maddening and disappointing. but he is confident apple will prevail. ♪

♪ vonnie: this is bloomberg markets. david: we go to the apple tax

story. the u.s. treasury secretary says the u.s. government is making progress when it comes to how multinationals are taxed. the u.s.im to outline stance on the eu decision against apple. >> as you indicated, we have weighed out concerns about this decision quite clearly. we see it as a novel application of the state aid. they think it is over wise interpretation of the national tax authorities. addition, at least to some extent, it is reaching into the u.s. tax base. how we have clearly articulated our concerns. i think the way forward is we will continue to make clear and concerns that we have. it is also important to emphasize along a parallel

track, we have been engaged in a constructive effort, which we see as being a more promising way forward. , a fair amount of work has been done. tax ande optimally appropriately tax on multinational firms, and take steps to ensure they are paying their fair share. reporter: what would somebody else a say in light of that, multilateralism is good, but if one party is not doing anything, why wouldn't the european commission do this on its own? there has to be how -- frustration without glacial this has been. congress does not have it. nathan: we at the treasury and the administration have been clear about the need for tax reform to shift these incentives. as you say, it takes a lot of

effort, including congressional action to make that happen. that would be the first best outcome. david: that is from my exclusive interview with the secretary. on this case,g apple ceo tim cook is confident the company will win against the european commission in court. in interview with an irish broadcaster, he describes his position, and that it is maddening and disappointing. we are joined with emily chang. this is what you would expect him to say. what else did he say? emily: he is stridently defending apple's policy saying this is wrongheaded, maddening, confident they will get to the right outcome in the end. he made an analogy to sports, saying it was like winning a championship. and the goal post has been moved, the goals are completely different.

but he again believes they will get to the right and come -- outcome. take a listen. tim cook: i have faith that eventually what is just and right will occur. and i don't, i don't believe the will be allet there roses by any means. there will be absent flows -- flows, but i have faith the right outcome will occur. billion ofe has $215 cash overseas. one of the things he did indicate if they are planning to repeat 38 some of that money. -- repatriate some of that money. this is not sure if there will be a change in u.s. tax law or some kind of break to bring the money back, but listen. $400 to: we paid ireland, $400 to the u.s., and

we provisioned several billion dollars for the u.s. for payment as soon as we repatriated. right now, i would forecast repatriation next year. , but: not an exact figure everybody wondering exactly how much money he is talking about and what exactly that would involve. but is something u.s. officials are very concerned about, and we will just have to see. david: i could see was talking by facetime. about theestion european profits in 2014, an incredibly low rate, lower than expected. emily: yes. ireland or the eu is saying 0.005%ffectively paid tax rate. it is actually 12.5%, so it is far below that.

the eu is saying they did this by shuttering, shuttling all their profits to this facility. apple sales international, where no employees actually work. what tax experts are saying is they can't and down -- pin down if that tax rate is correct. countryes not release by country breakdown of profits. so the methodology by which the eu has come to this is kind of a mystery. the cfo of apple calls it completely made up. and the eu manager says this is based on at from -- information apple provided to the eu and pointed out that is why it would be great to have more transparency. that 0.005% number is being questioned. tax experts are saying there is no way to know if that is indeed exact. that is, however, the number eu is insisting. vonnie: we will stand by for more.

emily chang, thanks for that. you can see more on the story and top headlines on "bloomberg west." coming up, we take a closer look at tomorrow's jobs report and why it may give us an important clue as the fed's next move. david: and the big event, a rare and exclusive interview with vladimir putin speaking with john mikel with. tune in to watch that. on monday, don't miss the hour-long session report that we get the interview with vladimir putin on monday at 12: yum eastern. ♪

david: it is 3:00 in new york, 12:00 in san francisco, 8:00 in london. vonnie: welcome to bloomberg markets.

vonnie: we are live from bloomberg world headquarters for the next hour, covering stories of detroit, washington and the united kingdom. an hour left in the u.s. trading session, stocks have recovered from losses earlier in the session following isn data. david: we get data on auto sales, figures down across the board for the industry. we sort out the winners and the losers. vonnie: and the u.s. jobs report out in sooner than 24 hours. we discussed how this will be for the fed. david: here we are one hour from the close of trading. looking at the major indexes first. we get up the boards on the bloomberg, you see doubt is down 0.6%. 0.1%.p down the nasdaq up