i'm abigail doolittle. this is "bloomberg best," your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. on monday, investors digested a slow economic data that came out over the weekend from china. >> china's economy continues to slow with sluggish domestic output and trade tensions pulling gross down since the early 1990's. gdp grew 6.2%, matching estimates. how bad is it? >> it's slowing on a quarterly basis and the takeaway is the activity numbers for june that picked up in retail sales will stop also fixed asset investments all headed in the right direction, all eating -- beating estimates and of you look at retail sales, a pickup in cosmetics sales on a turnaround in the car sales sector. it points to an economy that has a long way to go before it can be said it's truly out of the woods. at the same time, it hinted at some kind of stabilization after a rocky period. >> a busy w

let's get a check on global markets now with abigail doolittle. ail: at this point, we are looking at very small moves. major averages in the u.s. fluctuating between small gains and declines. everyone waiting on the fed. the s&p 500 up fractionally, the nasdaq up just a little more. in europe, the stoxx 600 up about an equal amount. emerging markets underperforming, down about 0.5% ahead of the fed. interesting considering any dovish tone should in theory help emerging markets, perhaps an early tell that it won't be as dovish as investors are hoping. let's take a look at a four-day chart of the 10 year bund yield, down four days in a low, hitting a record low. accommodation of the various central banks' economic data. down -44 basis points yield. many are saying that while we have decent economic data in the u.s., it would be very hard for the fed to leave rates where they are for negative yields around the world. interesting to think about for sure. as for big movers on the earnings front, apple beat and provided an outlook for the current quarte

abigail doolittle has more. end of june, there were signs of stabilization, and goldman is hopping on that bandwagon. it puts them in the majority of analysts there are. -- of analysts. buys.are 18 the upgrade is really on the stabilization around improving memory trends. they are talking about the type of memory that goes in cell phones. if we happen to the bloomberg, there is a reason to think that maybe we are seeing some stabilization for a stock that has been on a real roller coaster. this chart goes back to 2014. in white, we are looking at the memory,ry -- at dram the kind that goes into computers. you can see coming back to 2014, the cycle of dram going down, the stock going down, and then in 2016, the bottom end. dram started to trend back down well ahead of the stock in 2018, but that appears to be putting in a bottom, so lots of hope there. on earnings, but what do they say about the outlook? abigail: interestingly, they guided a little softer for their fiscal fourth-quarter that they will be reporting

welcome i'm abigail doolittle. your weekly review of the most important business news, analysis and interviews from , bloomberg television around the world. let's start with a day by day look at the top headlines. on monday, investors divested a slew of economic data from china. >> china's economy is continuing to slow with sluggish domestic output and trade tensions pulling growth down to the weakest pace since early 1990's. gdp grew 6.2%, matching estimates, but below the 6.4% theme in the previous quarter's. how bad is it? >> it is slowing on a quarterly basis. the take away from today is the activity numbers for june. we saw a pickup on the retail side of things, industrial output all headed in the right direction, all beating analyst estimates. a pickup in cosmetic sales, a hint of a turnaround in the car sale sector, it all points to an economy that -- clearly there is a long way to go before it is truly out of the woods, but it hints at stabilization after a rocky period. >> citigroup taken off the busy week

now let's get a check on markets with abigail doolittle. abigail: let's get a check on sprint going up on the expected headline that the justice department would approve the deal with t-mobile. a major hurdle cleared after shares of dish were sold. t-mobile also up 3.5%. that is helping take stocks to session highs. let's take a look at major averages as well as the faang index. the dow is underperforming but has been negative before. the s&p 500 and nasdaq both an all-time highs. you can see the nasdaq outperforming with tech exposure , and the merrill lynch faang index up 2.4% helping explain the s&p and nasdaq doing better considering the greater weight. the big mover for the faang index is alphabet. we will see a beautiful pop higher on a strong quarter they put up. the stock is trading higher. you can see on pace for the best day since 2015. they beat estimates and revenue growth of 19% better than what had been estimated. alphabet is back on track. not as much for amazon. amazon is the odd stock out. it is down 1.4%. they missed estima

abigail doolittle is here to explain. ly, that has to do with the judge saying the way the punitive damages were awarded was too much in excess. according to one ruling, it should only be nine times the damages. the $80 million that was awarded to this one man in california was closer to 15 times, so for that reason, much of the damages could be thrown out, closer to $5 million, a small slice of what was initially given out. to backup a little bit, this company bayer has been under the weight of these lawsuits. so far they have lost three. is awarded, it is a precedent for other cases in the future. one other case has already been reduced significantly for a school groundskeeper to roughly $79 million. bayer is looking for a $2 million award given to an elderly couple to be reduced significantly. perhaps this ruling will help bayer in that pursuit of looking for lower awards given out lawsuitsese round up that have weight so heavily on the company. stakelliott has taken a because we could see this accelerated, and we get t

taylor: that was bloomberg's abigail doolittle., it is all about a isbal manufacturing that providing a reality check. the economic growth outlook with capital markets. stephen gallo. and it is green on the screen. record highs on the s&p 500. this is bloomberg. ♪ >> 30 minutes left in the european trading day. i am guy johnson. beenadictory messages have kicked out by -- equities, and we have the miners at the front end of the charge. technology doing well in europe. stoxx 600 is up by .9%, but we have -36 bits on the german ten-year. the bund is rallying really strongly i wonder if that has something to do with who could potentially be the next head of the edc be -- of the ecb. one thing worth noting, the smi is trading strongly today. day one, effectively being cut off from the e.u.. taylor: you're totally right you want to talk about mixed pictures, the u.s. equity market is telling us a different story. i wonder who is right. the equity markets or the bond markets. equity markets were at record highs,

. ♪ >> this is bloomberg best, i am abigail doolittle.'s resume our roundup of today's top business news. avoided aament post.ck and filled a key >> ursula von der leyen has been confirmed as the next president of the european commission the first woman to hold, europe's most powerful policymaking post. >> she managed to get the nomination approved by the european parliament but it was tight.3 votes, a very i was told by senior members of the european parliament that anything below 400 is actually very weak -- is actually a very weak mandate. she had a lot of challenges ahead -- trade, the relationship with president trump that has become rocky over the past months, and of course, brexit. >> it is not the end of something. it determines the beginning of the future relationship between the united kingdom and the european union. and we went to be partners. they are our neighbor. we have common interests. so i will put a lot of emphasis that we will have if necessary, a brexit in a good way, knowing that we have a common future. abigail: fac

abigail doolittle is here with the details. ail: small the moves mainly for -- small moves mainly for global equities indexes. investors taking some chips off the table, but exemplary of the smaller moves, the nasdaq just down fractionally. the s&p 500 trying to flip higher. the ftse 100 -- we will see if it can join the ftse 100. the shanghai composite down just fractionally taylor:. -- just fractionally. where we have a little more action in the u.s., delta airlines shows the airline popping higher by 3.5%. they did announce a second quarter preliminary range of $2.35, a couple of percentage points better than what they forecast. we do have a rally here for delta airlines. it is not just stocks we have been watching. we've got lots of fluctuations for oil, commodities and bonds. lows,down near session down 2.7%. perhaps consolidating the rally we saw in june. take a look at bonds. we have stocks rallying and bonds rallying. there is reason if we go into the bloomberg to think that the big rally we seen for bonds more recently

david: many thanks to abigail doolittle. he is the man president trump turns to for device on china. michael pillsbury from the hudson institute joins us for his take on the talks in shanghai. that is next and this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. we turn to mark crumpton for bloomberg first word news. mark: president trump is criticizing china, saying it continues to "rip off the united. date" -- speaking tome reporters outside the white house, the president said "we are either going to make a great deal or not make a great deal at all." >> china is trying to make a deal with me. it is up to me. it is not up to them. mark: the president criticized china for what he says is its unwillingness to buy american agricultural products. general nominated be the pentagon second-in-command is denying allegations of sexual misconduct as he appears before the senate committee considering his nomination. a senior army officer has accused air force general john whiten of subjecting her to a serie

abigail doolittle goes up against tatiana.i want to look at the roller coaster of bitcoin. than one --own more down more than 10%. the roller coaster goes back to 2015. bitcoin trading about $200 per bitcoin, all the way to 2017 highs, closer to $20,000 for bitcoin. you can see that uptrend broke the uncertainty around that buying, giving way. a 90 degree angle cannot hold. we're looking at a similar situation here. we may have to consolidate down to one of its weekly moving averages below 7000. long-term, probably bullish. you can see my chart on the bloomberg at gtv . vonnie: i am so torn. those are excellent charts. fantastic subjects. we do not get to either of them too much in the program. i'm very torn but i have to say today's winner is tatyana. abigail, there was a great start. we have breaking news. thank you ladies for a wonderful performance. blackstone nearing a deal to buy the european distribution arm of crh, the buildings materials maker. blackstone is down about .25% and looking at acquiring the distributio

i'm abigail doolittle.been mixed signals on trade and the uncertainty is affecting corporate decisions with report that hp and dell could move as much as 30% of note put production away from china to avoid tariffs on u.s. bound goods. the dell cfo declined to comment but told bloomberg that flexibility in supply chain is helping the company navigate through complications. we have a global supply chain that has flexibility in it. we have 25 manufacturing facilities across the globe. we are balancing the needs of our customers with the environment we are in. i think we have done nice job of balancing the tariff dynamics and we will continue to work our way through that and hopefully, the two governments will come to an appropriate agreement at the right time. >> what does that mean in terms of adjusting your supply chain? you have 25 manufacturing sites but when will you have to start adjusting prices or have you started already? , we've beencall able to -- there have been three tariff lifts that we have been

thanks to abigail doolittle. coming up, getting to yes. we talked to marc short, chief of staff for vice president --ce, about how the u.s. about how they plan to get the usmca through congress. that is next and this is bloomberg. ♪ david: this is "balance of power" on bluebird television. i'm david westin. we turn to mark crumpton for first word news. mark: united states and china have wrapped up trade talks in shanghai. the u.s. call the session productive and said china confirmed its promise to buy u.s. farm imports. the next round will take place in september in washington. democratic national committee chairman says president trump has the wrong idea when it comes to trade and tariffs. he spoke with bloomberg's kevin cirilli following the first night of the second democratic primary debate in detroit. >> this president, because he is so scattershot, because chaos is their strategy for everything, rather than simply focus on china, which is where our fire should be trained, you end up having tariffs against canada, mexico, and europe.

over to abigail doolittle. abigail: we are looking at gains for stocks in the u.s.. s&p 500 hitting new all-time highs. the nasdaq up for the sixth day in a row. the stoxx 600 fairly broad, up about 8/10 of 1%. a little bit of weakness for emerging markets having to do with the asian session. 500 all-timep high, let's put it into the perspective of last year. we are basically flat come about at an all-time high back here in september of 2018, more recently in may, last week, and now a new series of all-time highs. buyers are very much in control. helping out the s&p 500, here are the top stocks on the day. on talks ofaring broadcom buying the firm. jeffries financial up 4.5%. they put up a solid quarter, and their trading business stronger than some of their peers. if we take a look at what is happening for bonds and risksities, interestingly and commodities up 1% as the dollar is about flat. we also have these haven bonds puzzling to many people. the fact we have this huge flight to safety, the german 10 year yield now yielding -39 basis points, and the 10 year yiel

here's abigail doolittle. ail: still a bit of a risk off tone for global equity markets, and financial equity markets can't take a look at the stoxx. and the the s&p 500 down for the second day, modest performance coming from the chip sector. 1%. sector is down 9/10 of .e see real performance some weakness in the asian session. the shanghai composite selling off. we also have turkish risk assets selling off, down 2.3%, the worst day in about three weeks. confirming the risk off tone we have for global stocks, let's take a look at the 10 year yield . a small rally for bonds at this point. we can tell it is a bit directionless. big raise after the on the friday stronger than expected jobs report. this chart is holding in there. it is amazing how that sometimes happens. markets go farther either way then you can expect, up or down. last year, the 10 year yield , investors seeking the haven around safety and bonds. 10 year yield sent sharply below. now almost below 2%, but hanging in there. the rsi suggesting that

let's get a check on global markets with abigail doolittle. igail: taking a look at the s&p 500 in the u.s., up one quarter of 1%, optimism around earnings along with a potential debt deal. this is of course perhaps in reaction to boris johnson being elected the new prime minister of the u.k. and what it meet -- will mean for brexit. , oneikkei is higher percent, confirming all of this. at least here in the u.s. we have the 10 year yield that was higher earlier telling you that bonds were lower and now flat. what's not flat, in germany we have a five-day rally from the .ond -- the bund seeking bonds, losing 11 basis points over that time and the yield now is down 36 basis points on the year again. it's extraordinary that investors are paying the german government to park their money, another story we will be keeping an ion there. helping the s&p 500, earnings winners today, sherman williams is up, a mixed quarter and they beat earnings with margins much better on a year-over-year basis . investors like that. coca-cola hitting an all-time high,

let's check markets with abigail doolittle. ail: we are looking at a risk off tone for global equities at this point. take a look at the s&p 500 and the nasdaq in the u.s., dealing with a number of earnings reports. we will take a look at two of the key ones dragging at this point. the dax down and emerging markets down fractionally, most likely in reaction to mario draghi's comments about the outlook getting worse and worse. if we look at the 10 year german bund yield, we see something pretty remarkable. earlier today, hitting a record low -41 basis points. that would be a seventh down day in a row, but after that ecb press conference in statements by mario draghi, we are seeing a up backup in rates, net three basis points, but still down sharply. as for those earnings reports in the u.s., take a look at tesla plunging, down 13.8%, its worst day since january. some question whether profit ability as possible. there was also the surprise anmenouncement of the co-founder in -- of the co-founder. investors not liking met. a strong

let's get a check of global markets now with abigail doolittle. ail: we are looking at a bit of a risk off tone in europe and the u.s. the s&p 500 basically flat, down just fractionally. the stoxx 600 down a little bit more, but also fractionally. the asian session, the shanghai composite down more than 1%, down another day in the row. the nikkei weighing the trade tensions between china and the u.s. plus, we had a big negative report from netflix. those were the equity markets to open first, so that perhaps affecting the mood. down moresix days, than 11% today, since 2016. this comes on their big subscriber shortfall, 2 million less subscribers signed up than expected. in the u.s., they also lost one have their 30,000 -- they lost 130,000 customers. investors clearly not liking it. we have some weakness for the commodity complex. the fact that oil is down 2.6%, down for a fourth day in a row, perhaps also reflecting the trade tension. the dollar certainly not weighing on it, but despite the fact we have risk assets selling off, we also have haven

read.ey find him hard to so much.ank you let's get a check on the market spirit we turn to abigail doolittle. abigail: we have been looking at gains earlier. take a look at the dow and the s&p 500. the nasdaq has been higher earlier but also flipping between small gains and losses. not a lot of conviction despite the fact we have strong earnings reports rolling in and that bipartisan debt. we have more strength as one pretense of 1%. atcloseted to percent came 35% and this is pushing the sox to very high evaluation levels. go to the bloomberg. take a look at and adjusting try. this is the bloomberg best forward pe. you see coming out of the financial crisis that has been doing well eight times, and then in 2013 reaching levels at 17 times capped by this level now at its highest level in 10 years despite the fact that the last all-time high was back in april, that tells you the earnings are string -- shrinking. we're going to see whether where -- whether or not we can get a better picture. we will have more information after the bell. texas instruments reports tonight. intel reports on thursd

. >> time for smart chance -- charts with abigail doolittle. , it is all about gold. l: we are taking -- and we our technical advisor back. such a tech -- a timely topic goal. it will be interesting to see what the meeting brings. >> fascinating breakout here. you have got asymmetrical theyear base and remember bigger the base, the higher in space is the potential. it is so symmetrical from the low in 2015 and we have targets that could take you first into the resistance of that to your top around 1500, 1525. the interesting thing is there is another principle of technical analysis. if the accumulation that follows the distribution which was at two-year top is equal to or greater than the size of the distribution. this price maybe expected to equal or exceed the priors cap. the first time you will run into resistance as you get to those price levels but 1600 is possible. possibly even 18 or higher. it is an interesting breakout that is taking place in the gold market. >> it is interesting you're saying about -- saying that. he was talking about the possibility of a rec

up .75%.n, apple stock the markets in general with abigail doolittle. ail: a risk on tone on this ride a, take a look at the s&p 500 and the nasdaq. the s&p 500 up .5% and the .8%.q up the british pound down, its worst day in almost a week and a half, the week that boris johnson is the new u.k. prime minister, with a big promise to have a hard brexit by the end of october. seeing if you can pressure the pound a little bit on the day. for the stoxx here and the s&p 500, let's go into the bloomberg and use the imap to see what is going on. his is also risk on. more sectors are higher, and up top, pretty extraordinary. communication services are leading the way, up about 3%, the best day since january. we will be looking at tech higher financials and a risk on tone from many the surface of what sectors are moving higher. bestunication's high, the day since january. alphabet, twitter, and amazon is dragging a little bit, but 10%, revenue growth of 19% versus the estimate of 17%, and speaking of president trump and tweets, he also tweeted that there may or ma

abigail doolittle joins us to talk about how the results are affecting. let's talk about apple.talking about the fourth quarter. fiscal fourth-quarter looking pretty good. higher astock popping little bit. one of the biggest influences is the whole ecosystem of apple suppliers. amd, of connect that to course a little bit of a disappointing forecast, it looks like the chip sector overall could be a little bit ahead of itself. this chart makes that case today somewhat powerful way. this chart is 8196. what we are looking at a yellow is apple. in white, the stocks over the last year. havee these two segments treated together. last year, we see that apple greatly outperformed the stocks. the stock perhaps getting ahead of itself with regard to apple. romaine: that is interesting, that little bump on the far right is what we had that record last week -- when we hit that record last week. there was concerned about china, didn't need to be as concerned. abigail: that is a very interesting point. there is a reason to think that dram is bottoming. micron put up a decent quarter at the en

here's abigail doolittle. abigail: a bit of a mixed tone for equity indexes.he s&p 500 and the nasdaq in the u.s., very small moves. the s&p 500 slightly lower, the nasdaq slightly higher. fromtors waiting for cues fed chair jay powell tomorrow during his congressional testimony, especially concerning be better than report last friday that have moved interest rates in a big way. off.n stocks are selling in the asian session, also lower, down about 8/10 of 1%. let's take a look at the 10 year yield over the last four days. three days, excuse me. we have a pretty big backup in rates, at one point the most since january. right now up 10 basis points, the most since the beginning of april. in anticipation the fed might not be quite as dovish as previously thought, some now think that a july rate cut is off the table. whatever does come, there is reason to think that rates will continue to backup. let's check on a chart we've been looking at a lot. it is now working very much in play. back in 2018, the 10 year yield around 3%. at that point, the fed very much in ti

abigail doolittle is with us. abigail: we are ending the trading week with an up day.he s&p 500 and the nasdaq modestly higher. in germany, the dax also higher. the shanghai composite was also higher. if we take a look at what is going on on a weekly basis, a little different story. investors cheering earnings reports. when we go into the bloomberg and see what is happening on a weekly basis, this is a year-to-date chart. we see on a weekly basis, the dax,l indexes in white the in yellow the s&p 500, in blue the shanghai composite, higher on the year, but now a down week for each of these averages. the second for both the dax and the shanghai composite. let's take a look at microsoft trading higher on a very strong quarter. offng up on its 737 right -- write off. put up a very strong quarter, piper jaffray saying the outlook is exceptionally strong. vonnie: thank you. still with us is ethan harris, bank of america merrill lynch. to continue the conversation about the fed and the bond market, what would be an appropriate level for the 10-year yield in the u.s.? ethan: i

for that, we go to abigail doolittle. ail: very small moves for the global markets at this point. the s&p 500 in the u.s. up slightly. the stoxx 600 down slightly. we have a bit of a bear gain for crude oil, up about half of 1%. the 10 year yield, interestingly, down two basis points. this is telling us some investors are seeking safety. bonds rally in on all of this. let's take a look at an intraday chart of the dollar to the kiwi dollar -- two the canadian dollar. the canadian dollar is a darling in the currency market. a lot of the positioning is ultra long, so cibc is saying to short the loonie. ,hat is helping out the s&p 500 tech up 1%, begin boosted by apple, up 1.8%. morgan stanley raised their price target to $237 before reporting earnings next week. we have micron higher, up 3%, after an upgrade to buy at goldman sachs. we have micro soft building on last week's strengths after reporting a strong fiscal quarter. a lot of the strength they've had through the volatility over the last year has helped them achieve so

abigail doolittle is with us. abigail: starting off the week with a little bit of a risk off tone. s&p 500 and the nasdaq in the u.s. down for a second day. the s&p 500 down about 4/10 of 1%. the tech heavy nasdaq underperforming, down about 8/10 of 1%. tech the worst sector of the day for the s&p 500 and the nasdaq. the german dax down just slightly. the risk off session really started in the asian session. investors selling that shanghai composite. let's check on a chart we haven't looked at any while. in yellow we have the shanghai composite, in white the s&p 500, blue the german dax. beginning of the year, risk on rally, all up about evenly. then the shanghai composite really took off, leading the way, at one point up 30%. then i head of the risk off here in may, the shanghai composite falling april. take a look at the decline for the shanghai composite. something to think about tactically, but anyway you slice and dice it, a great year for stocks. dragging today on the s&p 500, downgrades.niper on ell at rosenblatt for apple. tap andngrading both in juniper networks uncompetit

time for smart charts with abigail doolittle. starting with the s&p 500. yet another record high. rday, all-time high. today, a record closing high. other asset classes. katie stockton, thank you for joining. you have a list view. talk to us about whether or not you think this breakout will continue and where you think it may be going. katie: they removed resistance from the chart, so that is a good thing. reflect positive momentum. the last major breakout was 2016. proceeding that, we had a trading range characterized by downside volatility. you saw a nice followthrough in 2017. it entered the consolidation phase, now advancing to all-time highs. the breadth, meaning we are seeing good participation on the rally. it does reflect participation. abigail: in that previous example, it looks like we went from roughly above 2002 a little bit low 3000. if you were going to play this forward, how high do you think we could go? katie: it goes back to that breakout to derived measured move projection. yielded aut in 2016 very long-term target of about 3280. abigail: could you see that happe

so, while we are waiting for that to begin, let's get a check on the markets right now with abigail doolittleabigail: not much conviction from investors. very small moves, the nasdaq was slightly higher moments ago, but you can see now it's barely moving at this point to the downside. europe, stoxx 600 is down slightly, for fractionally, and the shanghai composite in the asian section is down for a second day. really small moves here, making it perhaps see more -- perhaps seem more risk off, also true for the german bund take a look at the major intraday chart, down five basis points, it's pretty extraordinary. of course the other extraordinary story here is that it is a negative yield at this point, 29 basis points to the downside, investors paying the german government to park their money. but this is having an influence on the sector competition for the stoxx 600. ands go into the bloomberg take a look. first of all, you see an even split for the sector that is neutral but on the downside energy financials and materials are down and a big way, down 1.8% and the leading sectors are the more

abigail doolittle is with us. ail: the dow and the nasdaq lower, although the nasdaq trying to flip positive. the asian session was down. speaking of down and weighing on the asian markets, let's take a look at the aussie dollar. over the last four days, we had the aussie dollar down, the first time we seen that in a few weeks, down 1.5%. often this dollar trades in sympathy with commodities, along with copper. we have trade tensions continuing to simmer. copper on the day down 1.5%. really pretty extraordinary, it is down eight out of the last nine days, on the year flat. take a look at the biggest losers for the s&p 500. down 5.2%.namara we also see that in sympathy, ak steel and u.s. steel trading commoditiese section is off to a bearish start, again in sympathy with some of the weakness we are seeing for copper. let's go into the bloomberg intake a bigger picture here. invite is the s&p 500, in yellow or orange copper. take a look at the s&p 500 and copper. up until march, both had been higher by about 10%. aro

abigail doolittle is looking at stocks. abigail: we are looking at a mixed market. the dow and s&p 500 lower for most of the day. the nasdaq had also been lower but now climbing out of that hole. investors waiting for those clues from jay powell tomorrow from congressional testimony, what it could mean for monetary policy, will there be fewer rate cuts, will they be later than expected? where we do have direct clues on the treasury market, take a look at the three-year yield. bonds are selling off. after an auction, $38 billion, three-year note auction. the rate coming in at 1.85% 1.6%. prior, if we compare the three-year yield to the 10-year yield, because everyone is talking about the three-month note inverted to the 10-year yield, we don't have an inversion, but we do have this part of the yield curve flattening. something to keep in mind there. the big one that everyone watches, the two-year to the 10 year. one area weakness for the markets, dragging more so on the dow, the reason it is underperforming. take a look at these material stocks. freeport maccmoran do

abigail doolittle has been watching tech shares. abigail: you are right, today is all about tech and chips. slightly, slipping between small gains and losses. up .3%.500, the nasdaq, 50% of its waiting coming from technology, so some nice outperformance there. the philadelphia semiconductor index, up 1.8%. on pace for its best day since the beginning of july. one of the best performers for that sector and tech, micron. micron is up four days in a row today, getting a nice boost. almost 10% over four days. investors piling in after the last good quarter but today goldman sachs upgrading to a buy from neutral. this is the best way to play that trend. but there are other stocks trading higher on a goldman upgrade. that is boosting the tech index to outperform the major averages, up 1.1%. applied materials also up at goldman sachs. shares are up 5%, a nice boost. also higher, apple, 1.7%. the price target and morgan stanley raised to 237. microsoft also up after putting an incredible quarter last week. investors want to pile into those s

abigail doolittle, we continue to see downward pressure. abigail: we are looking at small declines for the major averages. a second down day in a row. continuing to retreat from the all-time highs we saw last week but well off the lows. with earnings, the head of the fed trade talks all a factor here. of course, into the fed decision that sherry was talking about, it seems that a 25 basis point cut is priced in, but not 50. an interesting chart here. the odds of a 50 basis point rate cut were pretty high. in july, 70% spike. likelihoodnt, 17% the fed will cut by 50 basis points. interesting to take this in mind. it suggests jerome powell's language will be important, in addition to the likely 25 basis point cut. as for what is moving the s&p 500, lots of movers. lab tech up 8.3%. the real tech company put up a great quarter considering there are pressures around the rail market. national oil well soaring at highs. 10%, uppany had been up for its best day since 2009. gartner is on the pace for its worst day since 2009, down nearly 20%, as the

halfway into the trading day, let's get to abigail doolittle. a down day for equities and yields. abigail: small losses at this point for the major averages. all down about .2%. earlier up a little bit, so investors wishy-washy after all the news around the trade truce, and the rally we had yesterday. look at the underperformance for the small-cap russell 2000, down .8%. that does set a risk off tone, investors moving away from risk assets, moving toward haven assets. five basisld down points. bonds rallied again. investors seeking the safety of bonds. it will be interesting to see what the jobs report brings on friday, whether we could see a reversal. on the day, the 10-year yield is down. that is helping the yield-sensitive sectors, real estate, utilities. when yields fall, those dividends look attractive. they are the best sectors for the s&p 500. in fact, since volatility started last year in the fourth quarter, that is the case. defensive sectors leading the way. action, have some mixed sherry talking about those auto sales coming out. fiat chrysler have been higher on that st

now it's time for smart charts with abigail doolittle. 500 crossing above 3000 earlier today for theime. what do the charts tell us about if it's for real? >> we will be tackling that here with our guest. you have been bullish all year. you think this rate that is for real. ask yes i do. we have a chart to show you. we have been looking at 3000 for quite some time. even 2017 we said we could hit 3000 area. what we see here are similarities. i think it is sustainable. we tested this multiple times. now we are pushing through it. as long as we can hold back, i 31 60 or 3180ee or even towards 3500 long-term. we have a 20% drawdown on long-term capital management. then you have a signal in december of 1998. market rally into 2000. you have another signal in february 2012 where this was all about correction after greece and europe. it generated a buy signal. there was a market rally for several years. the same thing happened after donald trump got elected. it went back to bullish area here we stand now. if we can hold a close to the highs were the month, that would suggest this is stable

let's get a check on markets with abigail doolittle. >> take a look at the dow on top.daq is underperforming. down three quarters of 1%. the dow was underperforming and the tech heavy nasdaq was outperforming last week. we do not have an all-time high for the nasdaq or s&p 500. in europe, we have the dax fluctuating around even. the hang seng was down 1%. all of this could be a big risk. investors on hold. we have the 10 year yield down for a second day in a row. fluctuating around even. investors are waiting to see what the fed does do on wednesday. it is expected they will cut by 25 basis points. will there be language around another potential cut? as for what is dragging, let's take a look at some of the big tech and internet names. is down.and amazon alphabet cooling off after a huge last week. facebook also put up a good quarter. the stock has been down a bit after that record fine of $5 billion by the government. paypal down 3.5%. let's take a look at the intraday chart of the pound. we have the pound at session lows. down 1.3%. possibilitys of the of a no dear br

it is time now for smart charts with abigail doolittle, where we of the timely prospects charts, and,you are taking a look with some commentary at the fed. what is the chart say? abigail: you are right about that, taylor, and to break down the possibility or the likelihood of a rate cut, aerial weld of oppenheimer. have really outdone yourself. let's talk about a 25-dip cut versus the base. guest: sure. clients want to know -- what is the application for the equity market? is it going to be like 1995, 1998 when you had a fed cut followed by gains in the market, or is it going to be like 2001, 2007, where you had a fed cut that was followed by a significant drawdown in the market? we did some work on this. we look at the ninth that toting cycles going back last 50 years, still a pretty small sample size, but what we found is when the fed cuts by 25 points or low, -- or less, it signals insurance that the fed is getting in front of the issue. conversely, if it is a 50 point cut or greater, you tend to see negative returns, and economic th recession, suggesting they are a little bit too

abigail doolittle is here. halfway into the trading day. >> we are off the lows to some degree, ahead of the fed on wednesday. investors eagerly awaiting to rate cutthe potential decision will yield. right now, the dow up 1.25%. the nasdaq down half a percent. a bit of a reversal from last and nasdaq&p 500 retreating from all-time highs. the vix popping ever so slightly, but very small moves. waiting for the fed. this is what we saw last summer. we had three months, greater than that in fact, of moves less than 1% both to the upside and downside. although the s&p 500 did reach record highs on that. huge volatility in the fourth quarter. this year, lots of moves up and down greater than 1%. in the last 35 days, back into these smaller moves. interesting to see whether the fed decision can break that. mylan,talking about that pfizer deal. shares popping 14%. they will be combining with pfizer's generic unit in an all stock deal. investors hoping this will turn the company around. really struggling as a generic ma

first let's go to abigail doolittle. we are halfway into the trading day and we are holding onto little gains. abigail: the dollar is doing better than any major averages. we are looking at another up today for the dow, s&p 500 and the nasdaq. earnings are related. we have that bipartisan debt deal helping the u.s. dollar, up for tens of 1%. up for a third day in a row. the best stretch for the dollar going back to june. the dollar is getting a bit of a bid. but that has not hurt coca-cola or united technologies, both companies are big multinational companies that receive more than 40% of the revenue from abroad. coca-cola trading at a record high of 5.9%, they beat comps in a big way. good earnings reports on strong volume. and united technologies also putting up a good quarter, boosting on aerospace strength. they are off of their highs, but they are still strong on the day. and we have earnings reports after the bell. let's take a look at whether those stocks are doing. chipotle mexican grill down 1.5% ahead of that re

now let's get a check on the markets with abigail doolittle. abigial: we are looking at stocks and bonds sliding. the dow down a second day in the row. worst two days since the beginning of june. a risk off tone. the s&p 500 and nasdaq retreating from all-time highs. down .8%. as for bonds, price rates in verse to yield and is on the disappointing policy move by the ecb. investors wanting more bonds here and in europe. as for the influence of higher yields on the s&p 500 sector composition, not much. it is a risk off sector. all 11 sectors lower. defensive consumer staples up when 8%. you would think the rising -- up .8%. financials down .6%. energy down 1.2% despite the fact that oil is higher. let's take a look at the drags on the energy sector. we are in the hearts of earnings season. pain are cutting their forecast. valero missing on second-quarter earnings. sincet plunging the worst 2007 as china is taking a bite into their business. q2 for four down 7%. down.tlook -- for ford , the worst day since january. ,acebook down, despite beating t

now let's get a check on the markets with abigail doolittle. sensel: we have a risk on for markets on this wednesday. looking at all-time highs for the s&p 500, third day of that in a row. high,day a record closing the dow jones industrial average closed, the nasdaq up for the six-day in the row. you and mike were talking about rates being lowered. here's the 10 year yield down 1.5%. the market doing the work for the fed, now confirmed for lower levels. , i mention the nasdaq is up several days in a row. that is true for the s&p 500, up 2.6% after the trade truce, the fomc decision a couple weeks ago. charge, bulls in assessing stocks will go higher, but the technical levels have been taken out of the upside suggesting the bulls may continue to charge. the composition of the rally is not the strongest. the strongest sectors on the day are the falling yields that are influencing the sectors. real estate and utilities are the top sectors for the s&p 500. real estate up for the second day in a row. the best two days of the year. as yields fall, th

vonnie: global markets now, here is abigail doolittle.rall, a risk on day, but look at the divergence we are seeing between the dow and the nasdaq. the dow is lower on the week and the nasdaq is clearly outperforming up 8/10 of 1%. that has everything to do with google and twitter doing nicely higher. about 1/10up of 1%. and reversing yesterday's loss of the german bund. -38 basis points. investors are still paying the german government to hold their money. take ag of a decline, look at the euro over the last year. down about 4.5%. this year, about 3%. the downtrend, it'll be interesting to see if these recent lows hold, but this of course is on the expected dovishness from the ecb even though i did not comment terms of actual details. the european economy weighing there a little bit. in thethe vix performers u.s., universal health services up 9.5%. the hospital company beat estimates of shares now up 30% of the year. starbucks up 6.9%. they beat both top and bottom line estimates. very strong important since that had been week. mohawk in

now let's get a check on the markets with abigail doolittle. abigial: this tuesday is shaping up interesting. the average is slipping between small gains and losses. you can see small losses for the dow, nasdaq, and the s&p 500. as an p5 hundred and nasdaq on paste this now multi-day -- on -- we seeap multi-day that one culprit to the sense of risk off on the day underperforming in a vague way, oil down 3.5%. there does not appear to be a clear impetus outside the fact that some investors may be concerned about the possibility that global demand could slow if -- doese war is not weigh on the global economy. investors seem to be taking profit out of that risk asset. if we take a look at the risk -- at the s&p 500, we're looking at a rally. ,ast week we saw the s&p 500 facebook tripping around neutral. this was last friday during the beginning of the g20 but ahead of president trump's meeting in japan. on monday the big jump on the open. investors cheering that trade truce. not holding on to all of the gains of the s&p 500 did finish higher. it'l

now let's get a check on the markets from abigail doolittle in new york. abigial: looking at small mixed moves for the major averages. the dow is underperforming .5%, being dragged down by caterpillar and boeing. the s&p 500 fluctuating between small gains and losses. the nasdaq managing to hold onto small gains. helping the nasdaq in the s&p 500 have green, take a look at the stocks up 2.6%. the philadelphia semiconductor index hitting a record high. texas instruments -- let's look at a three-day chart. they put up a strong quarter. as for other earnings movers, we have lots of big movers on the day. ups up 7.8%. they beat their forecast. costs went down. volume and revenue was better. the best day since 2008. edwards life-sciences up 8.3%. that company put up a great quarter. to the downside, those drags on the dow. look at caterpillar. down 3.4%. their profit outlook dragging on that stock, some saying is a warning shot of what could be ahead. boeing down 2.7% as they put up a surprise loss with the max rounding. you had a great conversation with the fo

. ♪ >> a slide on page 120 and it says -- ♪ >> i am abigail doolittle, we have interesting action on markets, contradictions with the s&p 500 up a third day in a row with the stocks outperforming for a third day in a row but at a record high and the shanghai composite had an up day after a few down days. rallying,ve bonds some investors are looking for safety, true around the 10 year budan ten-year the end -- rallying for six days in a rown,. , investors paying the german government to hold their money, -39 basis points. in the u.s., mover side for earnings, winners and losers, texas instruments at a record high, helping out with a strong quarter. since 2000 anday they boosted guidance. caterpillar is not so strong, and anthem a disappointment. from new york, this is bloomberg. ♪ ebay is taking on amazon and walmart, allowing sellers to store items that fulfillment centers, aimed at increasing delivery speeds to customers. joining us is there ceo. from the ebay open conference in las vegas. congratulations on this move. explain how it works and how you will do it better than amazon.

here is abigail doolittle. abigial: breaking news on occidental.ed -- carl ica has slam