abigail: one comment that stood out to me. with monetary policy very expansionary, regulators should be wary of rekindling the incentives that led to the crisis." why do you think he made that comment? >> i would connect this with what janet yellen was saying. you are seeing a concerted push back from a central bank community. there is concern that the pendulum may swing too far in the direction of deregulation. the regulations put in place by the financial crisis. as far as yellen or draghi or others are concerned right now, having this financial regulations in place is actually very helpful. why is it helpful? , ineans they can tolerate some cases, elevated asset market valuations well-being confident that the system itself is solid it -- solid enough. it has been stress tested. the system is robust enough. bond market crash or some other asset market selloff, the financial stability would not be impaired. what that means is it allows monetary policymakers to continue to focus on the economy. if you weaken the stability of t

thank you, abigail. where to invest and how to read the markets, let's bring in barbara reinhardt. the head of asset allocation with moya. -- you manage money, but you also keep an eye on current conditions. what is most concerning to you about the climate right now? >> there are a couple of things that we are concerned about. we think about things over the short-term and medium-term. over the next six to eight months and the longer term. the political tensions spiking so quickly last week going right to the front and center. things that we don't think of being appreciated by the market, the strength of the earnings cycle. it has been much more skewed towards bond funds. we think that the easing of financial conditions over the dudley from the fed talked about it yesterday. vonnie: you are not so constructive on fixed income right now, and if not, why not? everyone else seems to be. barbara: i know. those data portfolios are negative right now and that's state for the market. additionally the fed will st

. ♪ abigail: live from world records in york, i'm abigail doolittle. scarlet: i'm scarlet fu.oe: i'm joe weisenthal. julia is off today. abigail: vix is down for a second day. joe: the question is, what'd you miss? scarlet: president trump will make comments on the executive order on infrastructure. theamazon effect -- e-commerce times at the center of our coverage as brick-and-mortar stores get to -- get crushed. retail sales still showed solid spending. and the reach can be felt in debt markets from where it is looking to sell $16 billion of unsecured bonds to finance the acquisition of whole foods. abigail: what'd you miss? the u.s. dollar is rallying and stocks are missed as the threat of war with north korea has diminished. days stumbling for a second and made a return to calm in the stock market. ms. ann sonders is the chief investment strategist for charles schwab, she is with us from stamford, connecticut. thanks so much for taking the time to join us. what do you make of all of this volatility, the recent volatility? the percent move down last week followed by the mov

abigail: that was kevin kelly, of kelly and company. julia: thank you, abigail.mp is trump is in texas to do with the aftermath of a historic storm. this is bloomberg. ♪ the president said, we will congratulate each other when it is all finished. the secretary general of the condemningns is israeli settlement construction. he said the international community remains a solidly by the goal of palestinian independence. he said he remains committed to a two state solution. land, dream in the holy two states. a palestinian state and an israeli state, living together in peace and security and mutual forgnition, and allowing something not to be possible. the trip follows the secretary-general's meeting yesterday in jerusalemit

abigail wrote about it to john. the governor she refers to is the pro-british official appointed by the crown. the governor is making all kinds of warlike preparations. such as mounting cannon up on beacon hill, digging entrenchments up on the back, placing cannon here and camping a regiment there. the people are much alarmed and the select men have waited upon him in consequence of it. in consequence of the powder , ang taken from charleston general alarm spread through many towns and was caught soon here. -- onports here on friday sunday, a soldier was seen lurking about the comments. supposed to be a spy, but most likely a deserter intelligence of it was communicated to the other parishes and about 8:00 is in the evening, there passed by here about 200 men preceded by a horse cart and marched down to the powder house from whence they took the powder and carried it to the other parish and their secreted it. i opened the window upon the return. they passed without any noise, not a word among them. me, askedem prece

abigail doolittle is with us now. we're halfway into the trading day, and i guess you haven't been particularly looking at spanish asset classes -- obviously the european closes just happened, but 10-year yields have moved a little bit, abigail. what is happening here in the u.s.? silent: we're looking at decline -- solid declines for the maybury -- major averages. so far, the tragic, breaking news from barcelona, not seeming to have too much of an effect on stock-trading action here in the u.s. what does seem to be training -- impact trading in the u.s. -- uncertainty. if you look at an intraday chart of the s&p 500, you see a decent decline that came behind a speculation of rumors that gary cohn, the national economic council director, could be resigning from that post. later in the 10:00 a.m. hour, axios said that number was 100% false, and not so long accident, the white house that gary cohn -- not so long after that, the white house said gary cohn will not be resigning. last leg lower might reflect the tragic eve

abigail: eight years now, pretty amazing. some degree, up about 10% this year. the msci brick index of 30%, on paper its best year since 2009. you have a great chart here. can you take us through this one? >> emerging markets, we know one of the best performing areas of the market your today. is a subset of that. the interesting thing of this chart is it is just back to this level that has been in resistance and 2012. the more times you test the level, the more times it is likely to break the upside. what gives us confirmation that is happening is the relative performance to the s&p. every time it has attempted to break out, it has been in pretty strong downtrend versus the s&p. we have now broken that downtrend and started to move to the upside relative to the s&p. we think bric is actually a decent place to be. part of that is due to the weak dollar story. the dollar may be set up for a countertrend move. all else equal, this chart looks like it is going higher. abigail: does this talk to us about the liquidity, investors a

let's check in with abigail doolittle. abigail: another day of solid gains for the major averages., looking past the geopolitical tensions this week. the s&p 500 up for five days and , the- five days in a row longest winning streak since the end of may. nasdaq with the best week since july 14. nasdaq finishing at a record close, just below that, but we are down to the wire. nasdaq,that tech-heavy biotech. really being helped by all the big names, gilead sciences earlier this week and their decision to buy quite five firms difficult -- to buy kite pharmaceuticals. interesting to see that. also helping monthly games. let's pop into the bloomberg and 287.at g #btv in the past we have been looking at monthly declines for the s&p 500. now we have to nasdaq, dow, and s&p 500 on pace for monthly games. the s&p 500 averting its first monthly loss since october of last year. super quick, let's look at what is helping these monthly gains, aside from biotech. apple, microsoft, berkshire hathaway, and gilead sciences, and apple with another intraday record high today, julia and lisa. third in

during his presidency abigail would spend much of her time back here. during that time she would make an addition to the house. and it includes a second floor where john adams could entertain his mind. it was from this desk that john adams would correspondent with thomas jefferson. and they shared over 300 letters in their lifetime. in one of the earliest letters adams would wright to jefferson you and i ought not die before we've had a chance to explain ourselves to one another. he loved to receive letters, he loved to write them. and sometimes he was even surprised with a gift, including from his old friend john marshall who he appointed as chief justice of the united states. john adams is at his desk and he's writing to john marshall that he has received this gift. he writes, dear sir, the extreme imb imble silty of my own age -- there's no part of my life that i look back upon with more pleasure than the short time i spent with you. and it is the pride of my life that i have given to this nation a chief justice equal to cope or hail, halt, i am ulti

betty and abigail testify. in very light ink you see th. so it's abigail to testify. it changes they to she. and changes their to her. so this document is where betty paris drops out. of everything. the only time you see her in anything. and she's been dropped out. probably around may 23rd. probably too young to be a formal accuser. but also they were trying to get her out of the limelight. maybe. there's an anecdotal talk that the family took her in. she got better. marilynne roach wrote a great thing about betty paris and her life. she got married and had kids. but this is where she disappears. a lot of these sets where samuel paris and -- you see the dot dot dot on that. he would grab two other guys, a lot of times thomas putnam. but he put his own thing in and grab a couple guys so they have multiple adult men making these accusations. and then there's the parallel one that he's written for abigail williams. so there's martha, rebecca nurse. elizabeth proctor. john proctor. susan martin. a few others we have just her or just him. we assume that there are a lot mor

a family tragedy brought together thomas jefferson and abigail adams. jefferson took the opportunity when he replied to remind abigail that he and john adams had a long friendship, in fact he wrote, we have never today in one another's way. he also for the first time spoke ex policely about the midnight appointments that had divided the. i can say with truth that one act of mr. adam's life -- >> i did consider his last appointments to office as personally unkind. they were from among my most political enemies from whom no faithful operation could ever be republicaned and laid me among men who's views were to defeat mine. of the many of the thomas jefferson letters we hold this one reads definitely. often the letter comes across as cool and reserved. here he's sm what different, he's speaking to abigail as an sblekall all and he's concerned about how politics may have ruptured his friendships. >> and cliff on this em anity or this frustration, i should call it that, seethe in the books of jefferson you tell for years in the book about the appointments of

abigail: it is a great -- what about tesla? abigail: what a great comparison.ed 22,000 vehicles, less than what investors were looking or. they said this has to do with demand and our bloomberg intelligence analyst said relatively to -- relative to the second quarter, it has everything to do with numbers being pushed down. if we take a look at the -- eeg function, this is what second-quarter earnings estimates have been doing and you can see the are clearly going in the wrong direction. on anmakes the point that annual basis, back in 2015, investors were looking for five dollars per share in earnings. now they are looking for a loss of more than six dollars and all of this as the company spends for the model three, spends for the future. you can imagine there are some pretty big bold bears. vonnie: that is kind of the point, that they spent a lot of money. one would expect estimates to go down. abigail: you are exactly right. they really are spending for the future. there are lots of investors that think this is the right thing to do. there is a big bull case i

. >> abigail: [giggles] >> chad: good morning, ms. soon-to-be-dimera. >> abigail: i like the sound ofhat. 'cept i think it's probably closer to noon. >> chad: hmm? ohh... >> abigail: [giggling] >> chad: doesn't even matter. i don't care what time it is. i could stay like this for hours. >> abigail: it's not a dream, is it? here we are. it's just you and me. we're really truly together. >> chad: mm-hmm.

abigail: good stuff. thank you. konstam, from deutsche bank securities, thank you for joining us. julie: time for the bloomberg business flash, a look at some of the biggest business stories right now. blackrock vanguard group lowering uber valuations by as much as 15%. the company has struggled with lawsuits and boardroom battles and the ceo was ousted in june. the company did not respond to requests for comment. bill gates, richard branson investing in a startup called memphis mea-- which will producets animal cells not with slaughter. analysts say there is a possibility of sustainable cruelty food, especially from millennials. wholeld foods -- the foods deal needs approval from regulators. the $13.7 billion deal with amazon is expected to close before the year's end. and that is your bloomberg business flash. fascinating story. self generating meat. abigail: as a cruelty free person i do not know how i feel about it. time now for our stock of the hour. la-z-boy, the committee known for the recliner is falling ove

abigail doolittle, thanks for joining onset.e been speaking of, apple, the world most valuable company by market cap, is set to report their quarter earnings and analysts are looking for cautious results you to potential delays of its new iphone. you heard it all about -- all about it now with abigail doolittle. mark gurman is an expert on apple products and he joins us from san francisco. maybe investors care, but certainly consumers probably care less. they will wait an extra month or two for this magic iphone 8 that will be all iphones, right? mark: i agree with the. no doubt that apple will announce its phones at the same time. 3 --ompany is protecting preparing three new phones. you will likely see an iphone s and a seven as plus. there will also be the eighth for this next from -- eight or next phone with a bunch of new features. it is very likely they will announce all the phones at the same time. the true consumers who let these products and what the highest and iphone will see the seven as plus, but they will likely wai

we don't know where the document for abigail hobbs is. there is a little bit of providence at massachusetts historical society but not much. we also discovered that we had hand-written contemporaneous copies of things. on the left we have one. on the right, basically an account of the same interrogation. both in handwriting of assume pair pips paris. we have no idea why there are two versions. except he was taking things down in short hand then reconstituted them into his accounts. short hand was very, very useful for a young minister because they could listen to divines, cotton mather, increase mather, and use short hand to take down absolutely everything. and reconstitute it. that is one reason why we know so much about salem village. why we know so much about the pleas of innocence because samuel paris took it all down. there is a reason that arthur miller poached from him as it reads like a play. she says this. he says that. oh, there is sound over here. couldn't hear. girls were flailing around. all those descriptions come from samue

let's get check on the markets with abigail. abigail: very small moves for the major averages.ctionally lower. the s&p fractionally higher. it appears investors are treading water to some degree. it is the last full week in august, so perhaps traders and investors are less active. that would appear to be what is happening. the nasdaq i attack index up 1.8%. here's what is driving the outperformance -- gilead sciences up 1.4% after the biotech giant said it is buying kite pharmaceutical for $11.9 million. tight is up 28%, so a megadeal there in the cancer space expected to help gilead sciences revive growth. other biotech stocks trading higher. this is helping the nasdaq outperform in a way. turning to one sector doing less well, the energy sector, one of the worst for the s&p 500, very much related to harvey. oil trading off the lows as have beenn texas shuttered. it is estimated that 10% of refining capacity is off-line, but the demand for crude is lower. gasoline is higher as less gasoline is being produced out of the refiners. there is still real world demand. that's helping

abigail doolittle is here to save

. ♪ --ie: live from bloomberg's abigail: i'm abigail doolittle.e are 30 minutes from the close here. markets are taking on a quick of a hawkish -- a bit of a hawkish tone. there's a storm brewing in washington. bidders areling being tries into a treasury bill. in actual storm is heading toward texas, where harvey has gasoline. floyd mayweather versus conor mcgregor. we will have live to las vegas with dana white. after threatening a government shutdown, president donald trump is blaming the debt ceiling mess on gop leaders in congress. request tweeted, i mitch mcconnell and paul ryan type of legislation into the popular the a's till for easy -- va bill for easy approval. could have been so easy, now a mess. joining us from washington with the latest is bloomberg had of congressional coverage. is this indeed a mess? are we going to do what we usually do is, you get a messy run off and that of the last minute they hammer something out? is there optimism? republican leaders are trying to remain a united front and say there is no problem. ryan says i

>> chad: [clears throat] >> gabi: it's abigail. she's out of surgery. [soft music] ♪ no, you're--you're not going anywhere, andre. >> andre: [laughs] excuse me? >> gabi: not until you tell me what you just said to chad. [indistinct chatter on tv] >> nicole: i love that you are into old movies. where are not a lot of guys

here is abigail doolittle to explain to us this movement.: they did post a smaller than expect a loss as you mentioned so you think that would be good, but they missed sales by 3%. this is the sixth time it has happened in the last eight quarters. a decline in traditional watch consumersnvestors and are going toward the wearable fitness watches. that is a segment for fossil. they have been doing well there, too. but growth was less than expected. plus, on the margin side, they had to pay upward. if we go into the bloomberg and look at the intelligence chart, this is a chart of the gross margins since 2013. we see it is clearly going in the wrong direction. 58% gross margin back in 2013 now closer to 50%. they have given up nearly 800 basis points in gross margins trying to help juice that were business without much success so far at least. at least to the point investors like. if you are also's fossil's ceo are cheap rent strategist, you should see this coming. abigail: there had been a watch cycle decline, plus they are seeing a drop in mal

this is bloomberg. ♪ abigail: "what'd you miss?"breakups and silicone valley history was when hewlett-packard is split into two country -- into two companies, in 2015. litter,e runt of the but now that rent is outshining hpe. anan? the split of the two companies, one was an enterprise segment, storage and it networking software. and the other one was pcs and printers. pcs are in structural decline. printers are in structural decline, and fast-forward to today, pcs are not so bad. and they have found a way to do well in a very weak, structural market. , the printerc. and pc division. sold the off and services business. they spun off and sold the software business. what is left, its servers. left, is servers. the business is moving to the public cloud of they are not exposed to bear. the cloud does not want to buy branded servers from hp or dell. they want to buy nonbranded boxes. hp, on one hand you get exposed to that business, and potentially margins get iffy. if you are not exposed to the business, it is growing. hp is in a struct

abigail doolittle is with us now.gail: the analysts are basically saying we have seen all of the slowing growth. what he is talking about is what we all see. basically the fact that there are so many stores everywhere that the new stores do not have a great chance of growing or being profitable. if we happen the bloomberg and tape it would just take a look at the function, this is a map of the u.s. and it shows us all in the u.s., look at this. it is pretty it -- it is pretty incredible. represented here on this map, you can see how they would all eat on each other. targets and airports. it is the main issue fighting against starbucks. the food and beverage innovation has peaked and labor investment apparently may need to be put in play. as a number of challenges. elsewhere.out can everyone is looking forward thinking they could be a growth grabber. it is 14% of revenue, 6%. should some time on the -- on a phone or cheap if it is likely to happen. this is a five-year chart. you see shares have appreciated last fively

abigail doolittle is here with us know. we are halfway into the trading day already, abigail. let's of rhetoric, lets a chatter out there. what's happening to the markets? abigail: the bulls are in charge at this point. we have solid gains for the dow, s&p 500, and nasdaq. in fact, this follows a big move up for the major averages on monday. a big move down last thursday, but the volatility, and very interesting is the fact that ben ammons said this pattern fits what we've seen before when we've had risk off scares like we had last week, geopolitical tensions, so often the equity markets. we then see 5 updates. let's see it tomorrow follows through. one of the big points today, apple pointing in yet another intraday record high, second consecutive intraday high in a row. the fifth this month, just about halfway through. really pretty impressive. look at this, apple year to date up 40%, on pace for its best year since 2010. this after the company recently did offer guidance that is supportive to the stock for the current quarter, plus ahead of the release of the upcoming iphone

nikole: abigail fisher cannot prove she was discriminated against. record shows there were black and latino students with better test scores that also did not get in, and white students who had worse test scores did get in. in fact, that case is not a bout -- not about her being discriminate against. it is about a belief by certain conservatives you should never take race into account, even if you are trying to address an historical legacy of dissemination and ongoing discovery nation. they will tell you -- the lawyer who brought this case -- i interviewed him, and he could not prove abigail fisher was is committed against. really that was irrelevant to him. the understanding of the case was she was treated unfairly. what also was not talked about in texas, the way affirmative action works, if you are a white student, you can also get points for your race. if you happen to go to a heaeavy black or latino high school, you would get points in the admission process. can you talk about here in new york city -- you have done a lot of reporting here where

abigail: we have a great function in the bloomberg.re looking at here, 25% upside surprise in earnings, 8% upside in revenues, and the average price change after a quarter, 13%. they are mainly to the upside. there was one quarter down here where there was a big move to the downside. right now, the implied one-day move volatility of options 10%.a really big move . there is a reason to think it could be to the upside based on prior quarters here, but also based on the short action. we have another great chart in the bloomberg. white, we have nvidia's stock price. in blue, we have the short interest. you can see that as the stock has been rising in a rather meteoric percentage or manner, we have the short interest simply coming down. those bears giving up to some degree. all focus is off of gaming so there is some sort of disappointment there. vonnie: fascinating. abigail, thank you for that much appreciate. much appreciated. the parent company of snapchat is taking investors for a wild ride since its launch. what exactly does wall stree

abigail doolittle standing by. abigail: we are looking at solid gains. mayor session highs.he dow, s&p and nasdaq. -- there are session highs. to buy into potential holdbacks are there signs we could see volatility and low and behold after last week's holdout, this week's gains. oppenheimer is saying by the dip is seems to be working. oil and the energy sector. we have oil trading slightly higher up about 0.4% after a bigger than expected drawdown for oil inventories and a small build from that oil reacting favorably up for the first time in three days or it -- three days. the s&p 500 not so much. down five days in a row. streak.losing perhaps helping energy stocks. and look at some of the industrial metals. big gains for copper, zinc, nickel. dollar, just about flat, giving up some gains. we have pretty decent movers. the top percentage mover for the s&p 500 is freeport, very solid. told methese, mike, that this has to do with the strength in iron. bank -- a dramatic -- nejra: somewhere shorting the metals because of concerns of china. here is hot equities are looking aroun

abigail: politics is the story.ut what happens with is way the president promoting his progrowth agenda. i want to look at the industry groups. s&p 500. in 10 groups. come inside the bloomberg, all of 11 groups, i'm sorry. all 11 groups are down by at least 0.7%. worst performance. tech shares off by 2%. financials losing 1.7 percent. you cannot have both of these doing badly and not have the whole system be affected. joe, this was something you were highlighting earlier. in the that wobbliness morning. there was a lot of speculation about what would happen to gary cohn. joe: some rumors going through the market about him possibly leaving. the market does not like the idea of him leaving. we did get a spike when those rumors came through. a preview of what could happen if that should happen. speculation was tossed aside and he is staying on at the white house. volatility continued to climb through the day. individual movers. airline companies falling today. you are looking at the bloomberg u.s. airline index, off by

abigail thought she is never going to make it. john adams were friends but as time went on abigail came to really respect louisa and they developed a really close friendship. that was both family and two first ladies. i'm trying to think of who some of the others were. >> maybe we can talk more interestingly about feuds between first ladies. you mentioned a couple to me. >> she was marvellous in terms of how to handle kids in the white house, which is an important thing to emphasize. one of the things you see with nancy reagan and hillary clinton is they were always take tg negativity and let their wives kind of be the lightning rods. that's exploitation of the women but it was a dynamic that occurred. one feud we should talk about would be nancy reagan and barbara bush. it's 1980 and george h.w. bush and nancy -- and ronald reagan run against each other. reconciliation and ronald reagan but nancy reagan is constantly putting her in her place. nancy reagan makes it clear that the event isn't going to start in the barbara bush goes

abigail doolittle, thanks for the stock of the hour. mark? mark: we like that chart. time for the bloomberg business flash, a look at the biggest business stories in the news right now. inflation at the wholesale level unexpectedly fell last month in the u.s. the producer price index declined .1% and is the first drop in eight months. more than 80% of the decline was due to a drop in the cost of services for this indicates the pricing power remains modest. the takeover announced today will create the largest single family landlord in the united states. blackstone group's invitation holmes agreed to bizarreward homes, $3 billion. the new company will own about 82,000 properties in 17 metro areas including atlanta, miami, and southern california. ♪ mark: that's the latest bloomberg business flash, vonnie. vonnie: blue apron with the first quarterly report at the start of trading down 11%. the meal kit deliveries have fallen since the june i.p.o. after it lost customers in the second quarter. for more let's bring in bloomberg's cory johnson with me in our new york studio

abigail, thank you for that.t's turn to japan where the economy grew for a six straight quarter extending the longest expansion and more than a decade. here is the latest from hong kong. >> a positive surprise out of japan this monday in the form of a luminary second-quarter gdp report. the headline figure was the annual gdp growth of 4%. low and even the most bullish investors. this places japan at the top of the g7 group when it comes to grow. th. growth goes into context more importantly in terms of inflation. we went from negative 1.8% in the first quarter two -.4%. , it isthat into context the highest level this year. it puts us closer to breaking even. stretch of growth and expansion in japan 26 straight quarters. when you look beneath the numbers, what is more encouraging here, is the outsize contribution from domestic-private consumption that went and to offset the drop in exports. economistth the chief , on consumption, he doesn't think this will be a recurring theme. this drawdown in savings that we hav

abigail: that's an interesting question for sure. could be a big move to the upside or downside. neither the buyers or sellers are really in control. if we look at a chart relative to the options, year to date chart come in white we had the stock come in blue we have a cost of put versus calls. it is very low. dom a technical standpoint i happen to love charts and patterns, this appears to be possibly a bit of a bottoming pattern, perhaps suggesting you can see the pricing go back up and see a re-convergence of the stock and the options activity. time will tell. scarlet: good stuff. abigail shares right now higher for the first time in four days. julia: it's now time for the bloomberg business flash. brexit scenario has an estimated 4000 jobs moving from london across europe according to people familiar with the matters. most positions will transfer to frankfurt and berlin although no numbers haven't finalized. also signed ans agreement to lease space for new u.k. headquarters. beyonce is said to be considering the houston rockets. t

abigail doolittle is here with the latest.bigail: we are looking at nice gains for the major averages. we'll tied a rally for the s&p 500, up five days in a row. nasdaq up .8%. the s&p 500 and the nasdaq on pace for their best weekly performance since the middle of july. on the month, let's take a look at the monthly performance in the bloomberg by taking a look at g #btv 2087. we will see for the month of august, we have both the --daq in white and that the let's see if that can be reversed by the end of the day. if not, it will be the first monthly loss for the s&p 500 since october of last year. interesting to see how that plays out. taking a look at one stock that has boosted all three averages this month, apple. today, we see an intraday spike. the eight this month. the company sent out invitations for its product launch event. they will be talking about three new iphones, the apple tv set-top box and the new apple .atch the stock on pace for its best year since 2010. we have lots of winners here with the exception of fiv

abigail: we're looking at small declines. you can see the dow, s&p 500, and nasdaq are fractionally lower. we had a better than a 1% rally for the nasdaq, it 1% rally for the s&p 500. battle between the bulls and the bears, basically even. interesting to see whether these small declines lead to something more. we will be reporting on that as the day trades on. something we don't have is a 5% decline. it is pretty interesting. the other times were back in 1963. 500 shows the s&p as a witness was going without a 5% decline. we can see much bigger gains this time around than in those past times. just think that we are having this rally without any sort of volatility to the downside. we may not have any major volatility to the downside relative to the s&p 500, but retail is a different story. it is a bit of a train wreck. all's is weighing on corners of retail. also beauty also trading sharply lower, down by about 4%. foot locker down 4% also. when w-- it is not a risk on day. the 10 year yield is selling off. the yield is rising

abigail doolittle, thank you so much.euber is suing to former chief executive travis kalanick and his allies off the company's board. he is accused of fraud in a lawsuit filed today. gregill bring in great stohr. when we are talking a lot of those of his on the board involved in this, what are we talking about? of the mosts one unusual lawsuits i've seen in my time covering silicon valley. suing the former ceo to get him off the board. nominally, this is about three board seats. occupied,vis kalanick to are still open, actually. benchmark is saying they never would have given travis kalanick these extra or the second 2006 if they had known everything that has subsequently emerged. really, you can take a step back and say this is a battle for control over uber. there is a ceo process ongoing. the board is unclear about what kind of ceo they should hire. travis kalanick and his allies wanted to take a long as you and benchmark investors. julia: talk to me about the ownership here because my understanding is travis owns 10%

a lot to cover in the next 60 minutes but first we have abigail doolittle.othing too

abigail, it should get even more interesting next week. that was abigail doolittle.ng with oil now, tropical storm harvey is making landfall once again in the heart of the gas industries. is the bloomberg editor for energy and commodities. this just seems to begetting getting worse and worse every few hours. >> we are in the rear transition now. the worst seems to have passed in houston. is out innally houston which is some good news for that city at least. it is never good news when your refineries go down, but the refineries in corpus christi will start to come back. for now, it is like a rolling blackout on the gulf coast for oil refineries. alix: some companies have announced that they are trying to get those refineries back on track. >> what we are seeing in corpus christie is best in corpus christi is encouraging. we will have to see what happens with the gulf coast near the texas-louisiana border. we are seeing a huge influx of saltwater which will not be great for those refineries and could cause extended outages. right now, the forecast does look a little bi

abigail, what is going on? is this a full on mania bubble? abigail: that's a great question, joe.is one that's on everyone's mind. i was trained, one of my mentors was you johnson. in my first month, hugh handed me a book called "manias, panic, and crashes." unstable demand or bubbles. media the phases included attention, enthusiasm, greed, delusions. that is up for debate. time will tell. the cryptocurrencies came into conception as an alternative to the fiat currencies. i love this chart, g #btv 30. on the top, we have bitcoin absolutely surging. the point i want to make is that bitcoin was going along flat, flat, flat. up in a very strong uptrend, nearly parabolic. and look at this uptrend. it truly parabolic. almost 90 degrees. according to physics, it can't hold that slope. if we go back to silver in 2009 are 2011, we had silver go from less than $15 up to $50 and we remember the sales crash. joe: that was a bubble. >> you should rank your top 10 bubbles of all time. -- it beinge of the a cryptocurrencies. that is part of it. but today, there is a bloomberg news article that

abigail adams originally thought louisa adams was too foreign. she had been educated in france and in england and thought of herself in many ways as french, and abigail thought, she's never going to make it. john adams and louisa were friends, but as time went on abigail came to really respect louisa and they developed a really close friendship. so that was both family and two first ladies. i'm trying to think of who some of the others were. >> maybe we can talk more interestingly about feuds between first ladies. gil, you had mentioned a couple to me. >> first, i wanted to emphasize that jackie kennedy was marvelous with hillary clinton in terms of coaching her on how to handle having a teenager in the white house and how to handle kids in the white house, which i think is an important thing to emphasize. you know, i think one of the thing that often happens is -- because politics is a form of combat, right? you internalize, and the men sometimes get over it and the women hold on to the grudges. sometimes you see -- you see the feuds there. >> o

abigail, how's it looking over their?bigail: we are looking at very small declines for the major averages. what makes that interesting is that earlier we had much bigger declines. at one point, the dow and s&p 500 down more than 6/10 of 1% on the north korea tensions. the nasdaq now down just 1/10 of 1%. earlier it had been down 9/10 of 1%. investors appear to be buying the debt. katie stockton over at bt ig saying that she expects the pullback that we were seeing more so earlier to deepen as the week goes on. right now, that sense of risk off relative to stocks here in the u.s. fading a little bit. we do have the vix spiking higher. spiking more than 13% earlier. let's hop into the bloomberg and see what is happening on across -- cross asset space. on blue, we have the vix seeming to gyrate everywhere between 10 and 16. whitery elevated, but in and purple, we have a bond volatility index along with the currency volatility index and we see that more recently when the vix spiked higher to about 16 and then has been gyratin

emily: abigail doolittle, thanks for that update.hat's in store for the tech industry as the quarter earnings season winds down? joining us, an analyst with rbc capital markets. you don't cover apple, but you cover all the rest. what is the big highlight from earnings season? obviously we saw a strong quarter from all these companies. >> demand trends remain consistent. i think this was our 30th quarter in a row for year-over-year revenue growth for google, our 17th for facebook, and about 20% year-over-year growth for almost 10 years now for amazon. we have seen consistent demand trends. the investments were happy and they were heavy last year and a year before that, and probably next year too. these companies make they have a lot of new opportunities to go after, whether it is amazon talking about advertising revenue, or netflix sending money to build out its international library. these companies all remain in growth. there is no scenario under which these margins will materially expand. -- will not materially expand. emily: is th

vonnie: abigail doolittle, thank you.oming up, the russian investigation hovers over the white house and the trump organization, awaiting the possibility of those innate trump tower in moscow -- waving the possibility of building a trump tower in moscow. this is bloomberg. ♪ vonnie: this is bloomberg. i am vonnie quinn. in 2016, the trump organization waved a proposal to build a tower in moscow. it eventually fizzled and a trump lawyer said donald trump was not involved in the decision to abandon the project. he says the decision was made solely on the business standpoint and have nothing to do with trump's campaign. dive back into russia but we should mention at a time when the focus has moved away from russia, it is good somebody is keeping an eye on what is going on. tim: russia matters because it matters to bob mueller and the investigation into the kremlin involvement in the traces to election or business dealings will be a long-term thing because of investigations that take a long time to roll out and you will get p

abigail doolittle is here with the latest. abigail: looking at moderate to solid gains for the averages even with that news in the last half-hour. we do have the dow and the s&p by and the nasdaq all up 3/10 of 1% or more. two things really stand out about these gains. the markets are completely disconnected from trump politics, considering that colorful press conference, yesterday and the geopolitical concerns of north korea is a bigger concern. they have cool down -- cooled off, but it is interesting that markets are to some degree disconnected from president trump's politics. this is a intraday chart of the s&p 500 and we see that the index took a small leg lower at that headline crossed, about the fact that president trump's strategy and policy council is said to be disbanding following a controversial press conference. if we take a look at the 10 year yield, it is actually falling for the first time in three -- showing that we are seeing a bit of a haven bid among these headlines and moving parts. here we have that up-and

abigail, how are we looking in the u.s.? abigail: the boards are up this morning.arly yesterday, we saw some pretty steady declines following north korean tension, but a decent rally by the end of the day. the dow looks slightly negative right now. s&p 500 and nasdaq are on pace for their best day since last week. the nasdaq is up almost at about 0.6%. the dow jones also trading tradingdly at 0.5% -- pretty solidly at 0.5%. on the year, it is a different story. let's hop into the bloomberg. this is a one-year chart. in white, we have the dow transports which would typically look against the industrial , but we are are looking at the s&p 500 which is a broader index. the last time the s&p 500 was at an all-time high was that in july. we see a bit of a divergence here which is a bit worrying. we have word that this is one reason to be concerned for the markets. it is reason to believe that there could be a correction later this year. as for more drag on the dow transport today, and more recently even though we had the outperformance, let's take a look at the airlines