alix: poop-diculous!etty: it reminds me of that story a couple of months ago from hong kong where they got the dna from trash on the streets and then they made it into this one portrait. do your member this? alix: i do not. betty: well basically, it was about publicly shaming people. and it works. reporting second-quarter earnings from big oil companies, the nation's capital energy producer publish their worst quarterly results in several years. from we have an analyst raymond james who joins us now from scarlet -- charlotte, north carolina. what was your broad takeaway? would wasad takeaway that these were messy quarters for both exxon and chevron. there was currency movement, there were various hot items, chevron had an impairment charge. these were not numbers, but let's take a look at the bigger sure here. of these companies have cut of their capital spending by more than 10% -- both of these companies have cut their capital spending by more than 10%. course, we have been watching this entire earnings

alix: we are moments away from the closing bell. i am alix steel. joe: and i am joe weisenthal. ♪ alix: u.s. stocks falling along with global equities, and treasuries rise, as chinese stocks suffered their biggest slump in eight years, and a bear market. joe: the question is, what did you miss? call it the chinese route, the shanghai composite plunging. alix: and the former greek finance minister caught on tape. we will drill down the extraordinary phone call. joe: and six years ago, there was talk of a bailout, but now for the golden state, does it finally have its finances in order? alix: you are looking at stocks falling for a fifth day. this is the longest losing streak we have had since january, and, joe, the s&p was flirting with that 200-day moving average. that is a momentum indicator. joe: and it is the big story, that eight point 5% crash in china, but it is not just chinese either, canada on its longest losing streak in years, and this is really sort of a global, order dated selloff. alix: this is the third longest stretch that we have ha

i am alix steel. and i am joe weisenthal. alix: u.s. stocks rallying along with european markets as greek contagion subsides. joe: the question is, "what'd you miss?" alix: after a wild week, chinese stocks posted the biggest today -- two day gains since 2008. joe: the world is swimming in oil. prices may fall further. alix: it has been an intense and crazy week. the stock market was all over the place. s&p below its average for two closing days in a row. it did not hold that level, rose above it. we have seen the best day gain in two months for the s&p but the nasdaq is looking at a weekly loss on the week. we are looking at a dell -- dow negative for the year. joe: amazing week and another huge day in europe. yesterday we saw gains at 2% and 3%. we saw them again today. very exciting final day of the week. alix: janet yellen had a speech at the city club of cleveland. i was taking a look at what they were doing. expectations for rate increases in september increased. that was interesting. joe: it was made clear hike was coming but it

alix: we are away from the closing bell. joe: i am joe weisenthal. ♪ global stocks having the worst week of the year. the s&p following more than 1%. joe: the question is, what'd you miss? crude oil and a worsening bear market. when will the markets recover? spreads toeakness natural gas and it shows in their earnings. we will talk to the ceo of ripe energy. as: new home sales plummet the economy falters. what is next? alix: we are beginning with the markets. major averages falling for the fourth day. the s&p in the dow closing at weakness fromwith the start and grinding lower. we are right around the lows of the session. closing below the 100 day moving average for the s&p. joe: some of these other selloffs not that impressive. name came out with some disappointing forecast. also really ugly with energy. materials getting clobbered. google,e names like amazon not enough to hold up the stock. the bio techs really getting hit. joe: i want to look into my terminal and look at new home sales. we got some ugly data. housing has

alix: we are moments away from the closing bell. i'm alix steel. joe: i am joe weisenthal. alix: stocks closing just under a record level for the s&p, barely holding on to its gains. commodities take the spotlight. joe: the question is "what'd you miss?". turn around big blue? we are watching apple. will it be another win or a miss? alix: the nasdaq is the story in terms of stocks, closing at a record high. the s&p could not hold on, closing relatively flat. seven out of 10 groups in the s&p did close flat. energy was a big drag. joe: energy was part of the overall selloff in commodities. gold, oil smoked. wheat and corn taking it on the chin today. that's the other huge story we will talk about. alix: can the s&p continue to grind higher to another rally when it is led by things like utilities and consumer discretionary? joe: you have to wonder what underlying the commodities selloff. is it something darker on the horizon? alix: we will get into that deeper with gold. taking a dig into halliburton. earnings came out earlier today. this is the number you need to know. this

i'm alix steel. joe: and i'm joe weisenthal. alix: u.s.cks ended slightly higher as optimism of the end of the greek debt crisis faded and they look ahead to tomorrow's jobs report and oil is down in more than three months. joe: the question is, what did you miss? the clock is ticking. we have the key deadlines that you may have missed. alix: and trying to predict tomorrow's big jobs number. it's joe's favorite day of the month. joe: and we'll talk to southern company and how they're transitioning to renewable energy. alix: first, we again, of course, with the markets. stocks are finishing higher in two days. recovering from the terrible slide that we saw earlier in the week as well. and this all after you had the debt financial minister saying there's no ground for further

alix: squishy, yes. joe: remember a couple weeks ago when all we talked about was the china crash and the government and the regulators through everything against the wall to turn it around? they kind of succeeded. check out the shanghai composite. still a long way to go. still pretty impressive. having accompanied a delay, shortselling, they finally have a rally on their hands. alix: what we take a deep dive -- one second, when i get my computer running -- eight deep dive into where there are lower gasoline prices. aah. here are the lower prices over the year. as joe said, we are around $50 per barrel. take a look at gasoline. still up by $2.77 a barrel. so, what gives? where are the lower prices, man? joe: where is the demand? alix: there is a lot of demand which keeps the prices higher, but it may trickle through. joining us, it had morris, the global head of commodities research at citigroup. they were in that "bear market" we love talking about. joe: we are seeing commodities everywhere -- oil and t

alix: alix steel. joe: and i'm joe weisenthal. ♪ alix: u.s.quities closing low after apple's disappointing forecast. joe: the question is, "what did you miss?" qualcomm could -- prepares for big changes. alix: as commodity prices tumble, the world biggest miner makes plans to cut its production of oil copper and cold. joe: three tries from around a while you can't miss. alix: we begin with markets. you're looking at the s&p closing around those opening lows at 2110 that many traders are watching and to see what kind of momentum easy in stocks, all in all the dow is looking at its worst two-day drop since june. at one point it was falling triple digits. a lot of that is apple. joe: i think this selloff is pretty unimpressive. we were here and the market is down 1%. we heard from apple, microsoft, and yahoo!. and then we get a .4% decline on the s&p? pretty minor. alix: to be fair jpmorgan is , backing that up, saying today that they see the s&p leaving its month-long range behind, saying -- look, capital returns are good, corporate america is n

i'm alix steel.ve breaking news. >> david einhorn says he has had two new long ideas for stocks. the first one is tank of new york mellon. this news just broken last half hour and we can see the stock jumping, up about 1.5%. the other long idea is for applied materials -- even more pronounced in the past half hour, up by more than 3%. einhorn says applied materials is attractive because of etch and deposition. covered his he has short position which reduces and sells metals. that stock is at the most will stop -- up the most. alix: thank you very much. now for a look at our top headlines this afternoon -- more consolidation in the auto parts industry. words warner makes turbo charger parts. thee's a takeover in consumer goods business. darden has agreed to buy waddington group in a deal valued at $1.4 billion. darden brands include son been, mr. coffee, and crackpot. by thepany is owned private equity firm and olympus partners. it's one of the biggest deals in the energy sector since oil prices start

alix: we are moments away from the closing bell. i'm alix steel. joe: i am joe weisenthal. alix: u.s. stocks down, treasuries fall as the chinese stock markets stabilize. joe: what did you miss. commodity collapse, the rout causes, but will it delayed the fed rate hike? alix: will they finally announced their new ceo? first we begin with stocks, you're looking at the s&p closing below is moving day average. a solid rally. u.s. stocks gaining the most in two weeks. looking at a rally across the board. joe: and comes after the selloff. it came right after we got some ugly economic data this morning. a weak consumer confidence number, one of the biggest plunges in a wild. the market ignored it. alix: you talk about how strong this rally is. today greenhouse had a no doubt about that. he mentioned if you look at the s&p game, 88% of that was amazon, taking in account through yesterday's close. google was about 40%. apple 73%. it cannot exist on top tech alone. joe: this has been a top topic lately. the advance decline line deteriorating, this is a big story. alix: more stocks a

♪ alix: i'm alix steel.efore the break we asked what sold for one dollar but was valued at $624 million three years ago. joe: it was a steel company from australia. ithas dropped to so sharply is close to worthless. alix: get this, the company that is buying this company is going to reopen it. it has been able to get commitments to restart the mine. they're going to try to squeeze some profit. joe: one dollar australian, that worse, it is about $.77 in the u.s. alix: this week we learned that a former great finance minister had been authorized to come up with emergency plan for a payment system, a plan b if greece failed to reach a deal. joe: we also got more on .ensions >> the greek exit is going to equip him with sufficient bargaining power. sufficient terrorizing power. alix: a professor worked closely with varoufakis. they did the contingency planning for the government. >> these two finance ministers had a good personal relationship. i traveled to berlin and met with them. i think that what yannis was s

alix: why? multinational tax perspective the companies based there are effective and efficient. it has some leading health care businesses, leading financial businesses. the single largest overweight at the moment. alix: the swiss franc cannot seem to catch a break. it wanted to be lower, yet it is still higher on the year. it might wind up hurting the exports. benjamin: it's not really companies exporting out of switzerland. most of the swiss companies that we like our multinational. - our multinational -- are multinational. it is not so much the export beneficiaries. the swiss bank is one of the stronger currencies, globally. it is more the inherent polity of the businesses that we like. looking for exporters, japan is more interesting. looking for domestic growth, we are looking at the u.k.. switzerland, just for the quality of the multinational is this is there. we have been hearing a lot of chatter out of the bank of england that they would not be raising rates from that half percent level.

the ceo tom farley joins us next. ♪ alix: what did you miss? i'm alix steel.phanie ruhle is standing by. take it away. thisom first thing morning, problems, messaging, walk me through that and the shutdown. role in theur center of the global capital markets seriously. our systems, trusted, available at all times. the open went off as you would expect. we were getting intermittent messages with customers not seeing the data and messaging they would expect. we have theel like level of trust in our decisions is required. i made the decision working with our regulatory teaming counsel's office to suspend trading at the new york stock exchange in part because those listed stocks continued to trade elsewhere during the day, and i told our team and a delivered fashion to determine what went wrong, put together multiple plans to come back up for the close. great job holding things firm, but you were out for 3.5 hours, and when you came back, volumes were up, almost the beat goes on. what does that say about our need? stocks. harm for in why as the market consolidates

alix: u.s. stocks ended slightly higher as optimism of the end of the greek debt crisis faded and they look ahead to tomorrow's jobs report and oil is down in more than three months. joe: the question is, what did you miss? the clock is ticking. we have the key deadlines that you may have missed. alix: and trying to predict tomorrow's big jobs number. it's joe's favorite day of the month. joe: and we'll talk to southern company and how they're transitioning to renewable energy. alix: first, we again, of course, with the markets. stocks are finishing higher in two days. recovering from the terrible slide that we saw earlier in the week as well. and this all after you had the debt financial minister saying there's no ground for further greece talks. you had the s&p take a dip and then higher. joe: pretty much green across the board. the airline sector on these reports that justice department is looking into conclusion and price fixing so that's something to keep an eye on. alix: absolutely. and th

alix: thank you so much, lisa.some breaking news right now, i want to head right now over to julie hyman. julie: this comes from "the wall street journal" and the u.s. says prepare to release u.s. spy jonathan pollard. some officials have been pushing for his release and a matter of weeks. to be arty been scheduled paroled as soon as november. he was sentenced to life in prison in 1987 for spying on behalf of israel on the united states. gaveofficials said he document's to other countries as well. we will continue to look into the situation and bring you any developments on it. alix: all right, thank you so much, julie. keep it here. ♪ alix: we are moment away from the closing bell. i am alex deal -- alix steel. joe: and i'm joe weisenthal. alix: global stocks having the worst week of the year. is, but the question "what'd you miss?" gold plunges, when will the markets recover? alix: weakness spreads to natural gas. it is showing in their earnings. next?hat is alix: we begin with the market. averages falling for th

alix: we are moments away from the closing bell. i'm alix steel. joe: and i'm joe weisenthal. [closing bell ringing] alix: we've got some cheers there. stocks are falling ahead of greece's referendum. the dollar declined. the jobs report fueling doubts about the timing of higher interest rates. joe: the question is, what did you miss? there is a ton going on today. mixed result in today's unemployment number. we dive inside the data. alix: and the countdown to greece's crucial referendum. who do you think will win? joe: and we talked to the ceo of popeyes about food costs and the state of the fried chicken industry. alix: stocks snapped a two day winning streak. the dow is still negative for the s&p, this was the first weekly move of about 1% we saw since april. we did see a lot of movement in stocks. you can imagine, everybody quitting their trades and just go to the beach. you're not going to see a lot of volatility or action, but the markets were interpreting the number is more dovish than anything else. joe: nothing too dramatic. one interesting sector -- some developments

i'm alix steel. alix: u.s. stocks falling. you earlier gains as protesters clash with the least in athens. the s&p dropping after four days of gains, and treasuries rose. >> rate rumbling. yellen says arise is likely. the market shrugs it off, should you care? alix: intel and netflix report. >> in rising chaos, debating a bailout of $95 million. the question is, will it be enough? alix: we will begin with the markets. stocks closing flat on the day, but it was a dramatic afternoon. once the headlines crossed and then protests in athens. we were still only off by a quarter of a percent. things are looking contained and then the s&p 500 climbed a bit higher. >> greeks protesting dramatically makes me think of the flash crash from before. it always gives me flashbacks. today was a little lower. huge gains in europe. best rally there since february. they gained $700 billion in market capital in the last few days. it is down, but not a big problem. alix: earnings crossing. cory johnson has more with intel. >> intel is crossing. thi

alix: we are moments away from the closing bell. i'm alix steel. u.s. stocks rising today after the s&p fell to a four-month low yesterday. global market seems to be letting out a sigh of relief as they see their biggest rebound since 2009. joe: what'd you miss? imf citing a weaker u.s. been a worried about greece and called the china stock slump a sideshow. is that the right call? alix: greece max out there credit cards while they still can. brendan: we speak to the ceo of a giant ethanol producer. what has the 50% plummet in oil prices done to his business? an s&pe're looking at that is closed below its 200-day moving average. joe, we had a rally in stocks. we did close off highs of the session and closing below this level is quite significant. a 1% rally in my could not hold onto it. a rally day that faded. joe: it wasn't up day then a down day. at the end of the day you are like, that's really unimpressive. europeans across the indices. france and germany up over 2%. days since our last correction? 1374 days since our last correction. i want to deep

i'm alix steel. >> and i am joe weisenthal. ♪ alix: u.s.tocks fluctuating throughout the day with the s&p closing slightly higher and the dollar rose. joe: the question is, what did you miss? the u.s. economy expands gently. what does it mean for the markets? such a gap why between the performance of the stock market and americans' social mood? is about to report its earnings as a social media darling making a progressive push into education. alix: we want to begin with a stocks. it was a wishy-washy day across the board, stocks closing relatively flat. the dow closed below the 200 day moving average. it really flirted with that level all day and closed below it but not a lot of stock movement all in all, with utilities the best performer in the s&p. joe: i would call it boring. we have had a lot of exciting days in recent days. this was not one of them, even with a lot of economic data. alix: the dollar was at a four-month high. felt 2%. china only what is that? alix: it's true. i want to take a look at inventory accumulation, one of the o

those numbers after the break. ♪ alix: i am alix steel. joe: i am joe weisenthal.what'd you miss?" alix: german party members said they would break ranks and vote against angela merkel. joe: let's get to the headlines. greece getting a different bailout. france sending planes to fight fires. the blaze forced evacuation of villages. 200 people trapped. high winds fanned the flames. alix: ludicrous mode for tesla, zero to 60 in 2.8 seconds. ludicrous speed is a reference to the movie "space balls". joe: three tank cars leak oil, homes evacuated, no injuries. alix: we hear a lot about oil trains derailing. it's important because calls for retrofitting tankers could cost up to $2 million, and new designs more expensive, adding $.40 to a barrel of crude oil. it's a problem. it's a lot of money. joe: we've seen a lot of these stories, major problems. alix: something you may have missed. and new designs more expensive, adding $.40 to a barrel of crude oil. it's a problem. it's a lot of money. joe: we've seen a lot of these stories, major problems. alix: something you may

joe: we will be right back. >> thanks. ♪ alix: "what'd you miss?" i am alix steel. is selling off their cotton reserves. they said the government will sell tomorrow, one million tons over time cotton was down again today. the government is charging more. -- one million tons over time. cotton was down again today. the government is charging more. the government is struggling. india might not plant as much cotton because of china. joe: is this like our strategic oil reserves? alix: i don't know. joe: that would be cool. janet yellen is speaking tomorrow about the economy, china, greece, when the fed will high grace. everybody will be watching the janet yellen speech tomorrow. a great economist had a line, the u.s. economy is an island of mediocre tranquility. that is so beautiful. we will see if that is how janet yellen season two. -- sees it too. alix: a bloomberg reporter saw a transaction on his these a card n greek out in droppe currency. biggest slip. good to have you back. joe: i'm exhausted. alix: thank you for emily: google fights back. we debate the future of

alix: agreed. scarlet: meantime, the negotiations over iran's nuclear program has been extended yet again. through julyended 10. the u.s. and other global powers want to stop iran from building nuclear weapons, and in return, they will use economic sanctions. holdingrmer mf global ceo jon corzine and other officials will pay to settle an investor lawsuit. mf global file for bankruptcy in 2011 after $6.3 billion bet on bonds on some of europe's most indebted nations. thanmers allege that more $1.6 billion should have been segregated and transferred to other parts of mf global during the liquidity crisis. settlement will need a judge's approval. i got that. scarlet: some economic data here. unexpectedly rose in may to the highest level on record. more than 5.3 million. it is the second month hiring succeeded -- openings exceeded hiring. alix: the gap rose almost 3% to $42 billion. experts felt by the most in three months, the biggest decline in human commercial aircraft and industrial equipment. it i

alix: we are moments away from the closing bell. i'm alix steel. joe: and i'm joe weisenthal. ♪ [closing bell] alix: stocks ending the day higher after the federal reserve says the economy has improved and moves closely to a rate hike. joe: the question is, what did you miss? the fed has given no clear signs on when it is hiking rates, but it is looking for improvement in the labor market. alix: facebook earnings reports moments away. are there growing pains? joe: the productivity puzzle. how does grand theft auto explain what of the biggest puzzles in the economy? alix: first, a rally is underway in the markets. the s&p closed about its average, a few days ago it was very different. joe: we got some very fun stuff that happened after the dollar died -- dive. and then it spiked to a four-month high. alix: nevertheless, if you take a look at the breadth of stocks that we look at what a bit, 36% of listed stocks are above the 200 day moving average. quite low, the lowest level since last year in october. joe: it continues to be something that vexes t

alix: good stuff., double-digit growth, commercial and others up $3 billion in terms of estimates. we will bring you those numbers in just a few minutes. another technology giant reporting after the bell is yahoo!. the stock is up, having plunged over 21% so far this year. brian is in san francisco and joins me now with a preview of expecting.treet is is this going to be a good quarter or of touring quarter? brian: yahoo! is always a couple of moving parts. the core business right now appears to be relatively flat. exciting? i don't know if you would call it that. is trying tohe ceo drive a turnaround and get things moving in the right direction. even a little bit of growth would be exciting at this point. the key question, of course, will the irs allow for a tax-free's and off? will we get answers? brian: we got a little bit of that last week. they filed for the spinoff with regulatory folks. they gave it a name. look, we seed -- this thing in the fourth order. some people read that is a good sign. re

alix: we're moments away from the closing bell. >> i am in for joe weisenthal. alix: there it is. what a day. the closing bell at the new york stock exchange is working. stocks tumbling today. concerns with china and greece dampening economic growth. the new york stock exchange for freeze, the biggest interruption. chinese markets keep plunging. not as scary as you think. a file and move down in commodities. alcoa gets ready to report earnings at any moment. we have to talk about stocks. the s&p 500 closing below its 200 day moving average. the first time in 178 days that it has closed below this important moving average. >> it triggers automatic purchases or selling orders. people look at it as a gauge on sentiment. alix: the context is the crazy day we saw. the new york stock exchange halting trading for over three hours. the biggest interruption in about two years. >> if you look at a stock like general motors, an s&p 500 company on the new york stock exchange. down 5.8%. chinese retail auto sales fell. our equity specialist crunch the numbers. 26% of shares are traded on the b

alix: we are moments away from the closing bell and i'm alix steel. joe: i'm joe weisenthal. ♪ [closing bell ringing] alix: u.s. stocks climbing and european equities capping the biggest rally since 2011 on greece's bailout agreement. the euro sliding on speculation the deal may clear the way for higher u.s. interest rates. joe: the question is, what did you miss? greece avoids a under very tough terms. was it an agreement among lenders, or a brutal coup? alix: we have not one but two nobel laureates here to discuss one of the biggest economic stories and years. joe: also weighing on the economy today hillary clinton , had fiery words for wall street. can she really play the role of populist? alix: but we begin with the stock markets, with a pretty important day for the s&p 500. it bounced and closed above the 50 and 100 day moving averages. the reason i bring this up is that they were key levels. they close below the 200-day twice last week, and yet, they close higher. some technical momentum continuing to claw higher. joe: the 200 day moving average

i'm alix steel. joe: and i'm joe weisenthal. ♪ alix: optimism overseas, crisis has eased, the dollar fell after wounding the fed, keeping interest rates on hold. thequestion -- joe: question is, what did you miss? we spoke to the cfo of the biggest home lender about his business and economy. iran, the nation is back in the game of global commerce. joe: we dig into the hughley -- usually asymmetric risk on the fence. is a december rate hike a lose lose proposition? take a look here at the s&p and the moving average continuing the bounceback that we saw yes day. year, looking at its best four-day gain and about five. kind of a mellow feel. joe: kind of mellow. alix: orderly. it was widespread, nine out of 10 sectors in the green. the only one that was down was to be expected, because they are so defensive. for several days in a row we saw the fix collapsing. now it's back. alix: the fed did not raise rates, but so you go. it continues. i want to take a deep type right now at a story that i was watching

alix: looking at commodities. check it out. >> fundamentals have been usurped in many ways in this selloff, returning to where the market should have been. if there had not been euphoria about commodity land. alix: to top it off, we get the or -- at a hedge fund hedge fund goes to gold. what does that do to the market? .> hedge funds are net short vw oh my that is emerging markets. normallyap, but they get their heads on by isolating risk. that is one thing. now the markets. on at little on the fence the correlations that they are causing. is trading more than you think. of the volume is high. that gets a lot of news. but they do not own that much. billionnly has about $8 in total assets. if you look at trading and oil, almost all of that is happening between two people. they are nots, going in and buying futures, unless they get in order. that is happening in a separate exchange. of course, if you look at them, they democratize things for people. you put it in an equity wrapper. anybody can buy. this is a portal

alix: we are moments away from the closing bell. i am alix steel. joe: and i am joe weisenthal. ♪ alix: stocks rising in the u.s. as the s&p 500 plummeted to within-- s&p 500 came to a fraction of a point near an all-time high. joe: but the question is, "what'd you miss?" just somearnings are of the things you have to keep an eye on in just a minute. a new zealander is creating big ripples worldwide and why it matters. joe: plus, we hear from a top china watcher as the markets continue to fall. alix: first, when we continue with the stock markets, we are closing at a record here with the nasdaq, and the s&p is a stones throw away with that record high, with virtually no take catalyst today with stocks -- no big catalyst today with stocks. stillheless, we are looking at the weakest quarter for earnings since the financial crisis. we are looking at revenue down about 4.5 percent. the last time we saw that kind of decline was a while back. joe: did we talk about this a while back? alix: yes, analysts don't always get it right. 47 of the s&p 500 compani

alix: that is where you work out? joe: i don't work out. ♪ alix: i'm alix steel.: i'm joe weisenthal. "what'd you miss?" alix: we were talking about soul cycle. joe: the company has grown rapidly, to 2.9 million rides. alix: you were not one of those. our producer blows it. she was so excited about the idea that she cheered. joe: with us now to discuss technical charts is a technical analyst and we want to start off ,ith a series of charts particularly a long-term chart of gold. what do we see? guest: this is an interesting chart. remember in 2009, the. 1000 is a big deal. once we roque out in 2009, we almost doubled from there, so that was a powerful move. the market has a lot of memory there, though for a long time he figured that was ultimate target and that's the lie should turn into some kind of demand. is theundamentally, that issue everyone is talking about. what about short term? guest: short-term, we recently had a nice break. we are in the context of a major air market, so when things in a down trend things to consult -- tends to consolidate -- that's wh

alix: and yahoo! sales low , aimates, so quite frankly pretty ugly day across the board in after-hours tech, and the call is going on for all of these companies as we speak. joe: that's why i'm excited we are here talking about these ugly numbers. alix: i'm looking at apple toss after hours loss. what you see here is a decline at its trough, about 10%. to about 66 billion dollars at that low. to put that in perspective, that's the market cap of a company like priceline or costco or metlife. marketly a cosco size cap was wiped out after this report came in. the apple's huge chunk of overall market and this is something to watch for tomorrow. i'm looking at nasdaq futures after-hours. applethat microsoft and and yahoo! report, a sharp leg down in futures after-hours. already looking at a 1.2 percent or 1.8% decline. barring something else happening before the bell, it's not going to be a pretty day. i want to bring in our bloomberg west anger, emily chang. and the founder of "the facebook thank you all

alix: all right.egulation named after paul the girl looks to reduce trading risks after the financial crisis . we show you how major banks have been prepping for this for years, next. ♪ as i mentioned, the volker rule went into effect today, aiming to reduce risk by cutting prop trading. joe: you can see banks preparing to their trading assets and the median ratio of those assets of the six major banks and the decline over the last six years. assets -- alix: assets have been cut the most since the first quarter of 2009. american express, qualcomm, texas instruments, las vegas sands, they have their results. julie and mike join us now, taking a deeper dive into the numbers. i feel like we should start with qualcomm. it was such a dramatic report. the: our earnings not headline, but more that they are bowing to activist shareholder pressure? sounds like husky split up the company. dealing making -- dealmaking in chip companies has been at 800% this year. clearly that dealmaking is not over. the idea is

alix: thank you so much.oe: i want to bring martin in from rosenblatt securities, the senior equity analyst joining us on the phone. martin, real quick, what is your take away? martin: solid numbers of ross the board. i think they do need to explain a little bit more, but they have been talking about hires ending and google set a precedent couple of weeks ago. facebook will probably deal with that. it is just a simple case of they didn't crush the numbers. it was a bead on revenue earnings and user metrics were very solid. daily active, two thirds of great numbers across the board, just not blowing it up. fundamentally i'm happy. monthly active users came in better than estimates, but when do they hit a wall of large numbers where they cannot grow the base? martin: in terms of monthly active's in total, we will be in the slow teens growth rate looking into next year. what i really look at is the ratio of daily to monthly. that is where the ratio of two thirds comes in. of those using it any time during the mo

back to you, alix. alix: thank you. we will be right back. alix: "what did you miss?"lix steel. on days like today utilities can be a popular safety trade. dominion resources is one of the largest gas and electric utilities in the u.s. joining us is ceo tom farrell. typically what do these kind of big event risk days mean to you? guest: thank you for having me. people back send into utility stocks. we still have this overlay for our whole sector, most dividend paying stocks, guilt stocks, waiting for the fed to take its action whether in september or later in the year. alix: moving on things not necessarily our fundamentals. do have a big growth portion of your business, your the second company approved to export liquefied natural gas abroad. you are any for completion by the end of 2017, 2018. what does the low oil price mean to you? guest: perfectly understandable question for many of the lng exporters. our facility is under contracts the go until 2037. whether the shippers use the gas are not, they will still be paying for our facilities. to natural gass prices, oil

alix: no idea.x: they said that there inventory has been -- they said their inventory has been rising. joining us, with charts you may have missed -- yard 24 -- we are 24 hours away from the apple extravaganza. talk us through some of the technicals. >> the nasdaq has been hot. i'm not sure if it is new delhi or new york city we are in. the nasdaq hitting all-time highs in the comp. what's interesting is, lately, it's been able -- the army has been advancing without the general. most of the time apple is critical to the movement of the nasdaq and check as -- and tech as a whole. that has not been the case lately. drivencally, to qqq is -- historically, qqq is driven by apple. joe: something's got to give. either apple is cheap or nasdaq overall is too expensive. steve: i don't think apple is too expensive by most metrics. overall is too narrow, too dependent on google, netflix, a few highflyer names. ibm is looking really poor. a lot of tech capex is suspect. it tells me the qqq needs to come down a

alix: using question for you.n a turbulent marketable what is a age investment that is doing surprisingly well? take a guess. the answer when we return. ♪ alix: before the break we asked you what unlikely in the is providing real protection from the stock markets up and downs. joe: vintage movie posters, if you can believe it or not. a poster from attack of the 50 foot woman has soared and value. alix: it is said to be worth as much as $2 million, this poster from metropolis. --n if you just for i just for inflation it is better than if you had regular cash. joe: anything not on the regular market, there has been a surge of interest in them. i was not actually surprised. alix: except for gold. bell twitter reported second-quarter sales that topped analyst projections. now for something you may have missed. we are joined by david kirkpatrick. let's take a look at the monthly active users coming in at 316 million. if you strip out some of the items that have been added you are looking at growth of about 304 million.

alix: we will begin with the markets.tocks closing flat on the day, but it was a dramatic afternoon. once the headlines crossed and then protests in athens. we were still only off by a quarter of a percent. things are looking contained and then the s&p 500 climbed a bit higher. protesting dramatically makes me think of the flash crash from before. he gives me flashbacks. today was a little lower. huge gains in europe. best rally there since february. they gained $700 billion in market capital in the last few days. it is down, but not a big problem. alix: earnings crossing. cory johnson has more with intel. >> intel is crossing. this is the breaking news desk. , not just a wrapper, that was the estimate. and coming out here, the revenues next quarter, this is the most important thing. $14.3es next quarter, billion, that is a little bit better than the estimate, which is surprising and good news. stock has been down quite a bit. i promise i will give you guys some major news about what you missed. a lot more than just the t

am alix steel am joe weisenthal. alix: u.s. stocks rose today.m to be letting out a sigh of relief. is "what'd youon miss?". alix: the greeks maxed out their credit cards while they still can. speak to the ceo of a giant american ethanol producer. what has the plummet in oil prices down to his business. alix: we have to begin with stocks. s&p has close below is moving average of the first time since october. we did have a rally. we didn't run out.

♪ i am alix steel. alix: joe: and i am joe weisenthal. what did you miss? alix: stocks sell off.: companies making cashmere sweaters and the like ours inc. -- arehares short, seeing their shares short. the luxury market is enormous, and giftgiving is enormous. joe: there is also the expectation of massive demand in the future, so even if china is not huge, the expectations could be ached into the stocks. -- could be baked into the stocks. alix: picked over washington and san francisco and los angeles for the 2024 olympics, austin. public support was low. -- boston. the u.s. olympic committee may back los angeles. can you imagine the traffic? that could be be worse. espnthe disney ceo says will eventually be sold direct to consumers without a cable subscription, but bob iger said it would not happen any time soon. it would not happen as a big change. they have been a big money marker for disney. and another headache for struggling toys "r" us, and some credit and insurance vendors are removing the chain from some policies and declining to renew coverage in other cases. losing cove

alix: there you go.ie: the stock is up 11% right now after an activist hedge fund was buying up the senior loans of the company and might be making some sort of buyout overtures to the company's majority owner, a luxembourg taste company that owns 61% of weight watchers. weight watchers has been very troubled. over the past year to date you can see that they are down by 81%. there was a big drop in the spring before they came out with their latest revenue decline, it really has been hurt by all -- all of the fitness wearables and the free at it you can get on your phone to track your calories, your steps, etc.. problematic for weight watchers as the shares fell by so much. i want to take a look at the bloomberg terminal as well. we are seeing an enormous short interest in weight watchers. 43%, yet over 60% after we had that negative earnings report in the spring. nonetheless this means that we up eight onan exacerbation as the people do short covering. another deal that is happening today, humana. $230 p

alix: thanks so much.re going to stick with us. -- alki, hockey david when you see violent protests, do you want the greek parliament to reject this deal? : no. i think it would be the third bailout that greece would have received. i think a greece needs to take the money and run. alix: run where? to building its own economy and remain independent of the european union. prior to your -- prior to joining the eurozone, greece was greece was in an inexpensive place to visit for tourists. alix: you would prefer to see them accept the deal, accept the us dirty, but really a bridge for them to exit the eurozone money,her -- except the but really a bridge for them to exit the eurozone altogether. arene: the italian people waiting to see how greece reacts and response to this bailout and what they will do thereafter. assuming that greece takes advantage of all of the great resources the country has, both in terms of mineral and tourism and agricultural and so on, manufacturing is vary stronger. if it takes advanta

alix: guilty right here.giles. -- potentiallyng could pose the first earnings beat in a year. shares have been trending lower today. jennifer joins us from bloomberg intelligent. what are you going to be looking at? what is the number ? >> what we're looking at the same sales and whether they are bringing stores -- getting traffic. alix: doesn't matter where they are getting the traffic? -- does it matter? >> we want to see their growing in times other than the breakfast segment. the mobile rollout will be a big question on today's call. people will want to know how far it has been rolled out, the results, and what they anticipate where the rollout for the rest of the country. all of those things are bundled together in terms of the overall strategy. prices?at about coffee know they look and well ahead. coffee prices are down on the year. they lock in prices, there will not be in the media again. there is somewhere in there they can take advantage of the lower price. for the most part, they are locked in. cou

i'm alix steel.e for some top stories tossing the bloomberg terminal. the head of the international monetary fund says that the world economy is recovering but that the fed is still fragile. in the online press conference she made another call for greek debt or -- for greece to reduce its debt burden. lagarde: restructuring should take place. alix: she said that they need to and neck reforms to make reforms more efficient and she expressed confidence that they could work with the left-wing government of alexis tsipras. of job cuts could hit the big producers, chevron illuminating 1500 jobs, 2% of its workforce. so far oil producers have accounted for 10% of the 150,000 industry job cuts since prices started plunging last year. surface from a -- service providers and drillers have been hit the hardest. amazon is providing rules of the road for the air. they want a drone zone so that they can go ahead with a airborne package deliveries. and amazon official floated the idea at a conference sponsored by

i'm alix steel.m joe weisenthal. ♪ alix: optimism overseas, crisis has eased, the dollar fell after wounding the fed, keeping interest rates on hold. thequestion -- joe: question is, what did you miss? we spoke to the cfo of the biggest home lender about his business and economy. iran, the nation is back in the game of global commerce. joe: we dig into the hughley -- usually asymmetric risk on the fence. is a december rate hike a lose lose proposition? take a look here at the s&p and the moving average continuing the bounceback at

alix: good stuff.is guy all the time, and by the way, vincent is by far my best run here on bloomberg television. we're talking about the close, and you're looking at the nasdaq at a record level. we will break down why and take a deep look at the housing market. ♪ alix: we are moments away from the closing bell. .oe: i am joe weisenthal you are looking at stocks closing now. ,he nasdaq at a record high nine out of 10 as of the sectors lower, not really keeping track with the nasdaq. joe: the question is "what'd you miss?". is the housing market getting mojo back? new home construction at second highest level. alix: one of biggest oil companies shifts course in gulf of mexico. what that move means? joe: china's government unleashes half $1 trillion to bolster stock market. alix: beginning with the markets. today was about tech. nasdaq at a record

she might have some strong words. ♪ alix: i'm alix steel. joe: i'm joe weisenthal.s makingher democrat the bid for the white house. jim webb announcing his campaign today. he formed an exploratory committee in november. he's a former marine and decorated vietnam veteran and had a brief stint as secretary of the navy in 1987. joe: nascar once you to leave your confederate flag at home. they are asking fans from -- to refrain from displaying the stars and bars. the facility say they want welcoming environment in all of sports. just keeps coming, the confederate flag backlash. joe: grace remains in focus ahead of the sunday referendum where the broader implications of the outcome are being way. what's it like on the ground in athens and what consequences could devote have? a member from the european parliament joins us now from athens. thank you for joining us. what do you make of this situation your countries in with the referendum in which weight to you think it will go? very confusing situation because nobody knows what the consequences will be, so it is very diffic