alix: coming up, what you need to know to gear up for tomorrow's trading. ♪ alix: i'm alix steel, "what'dindustrial japan tonight, and the conference tomorrow. let's get a read on how the businesses are doing. tracy: and whether we have seen a slowdown in the global economy, i like it. eix: we have adp respect -- with all due respect to the campaign, no, no do respect. ♪ we have been saying for months now to the king is a three ring circus, but with the events of the past 24 hours as turned into something darker and weirder. it will get to ted cr'

alix: good afternoon. i am alix steel. the u.s. stocks were next as a choppy quarter comes to an end with last month's rebound leaving wall street at the highs. tomorrow's jobs report, what it has in store for investors. in emerging markets, the best month in almost five years. mark mobius weighs in on current 's outlook. the day after metlife one a court battle. why firms are going after regulators, and what it means for the dodd frank act. let's go to the markets desk where julie hymen has the latest. happy quarter end. that was a rough quarter. julie: is that a thing? can we make the holiday? let's look at the quarter. just atwant to look u.s. stocks, but around the globe. one of the few major benchmarks around the globe in developed markets where we have seen a positive return. with the latest recovery that we have seen, it is up a little more than 1%. the stoxx 600 is down by 8% here the nikkei down 12%. the shanghai composite down 18%. -- down 15%. going back to bill gross, in terms of equity investments. that is what it look

alix: 50%.ome on oil. -- presidentow at dilma rousseff defending herself in a speech right now saying in without a crime is a coup and she laments the climate of intolerance in brazil. she does say she respects the rights of brazilian people as well as democracy that says the brazilian presidents have to be chosen in elections and it is bad faith to say all in impeachment is correct. would unleashhat a flood of oil into the market in the next six months? we have the answer after the break. ♪ alix: and looks like a nice day in new york but i think it is a little cold out. when oil what happens prices rally one of the biggest problems in the market is the inventory. you have an overwhelming glut of crude in the form of stockpiles. energy information agency reported inventories rose by 2.3 million barrels last week. the increase was less than expected but marks the eighth weekly gain for inventories. these inventories need to be worked off. joining me now from london is michael showing, and oil ana

♪ alix: i am alix steel. "what'd you miss?"ry big risks to the oil market, floating storage -- very big risk to the oil market, floating storage. you are looking at oil tankers that are storing oil in the middle east gulf. the idea is that the cost to store oil right now on sea is not very economic. it's cheaper now to release it into the market. deutsche bank says there may be an additional 31 million barrels of inventory that are currently floating that asld be drawn down, as much 330,000 barrels per day of incremental supply. you've got to flood the market. that's a risk. tracy: does that eventually end up being good for supply demand? instead of having oil locked up and waiting in the wings, it has gone out into the market. prices might fall in the short-term, but it, in the long run, alleviates the supply-demand imbalance. alix: this is a huge flood in a short-term that the market is not anticipating. tracy: for my deep dive, i have something slightly different, one of the weirdest charts you will see in u.s. economics rig

alix: and i am alix steel. joe weisenthal is off today. stocks are closing higher this friday and we are going for our best week since december, 2011. scarlet: but the question is, "what'd you miss?". alix: hourly earnings declining for the first time in over a year. scarlet: and we look at the new world order for oil. it could be no longer in a freefall. alix: and digging into a cheap price, if it means good value. scarlet: we begin with the market minute. these are recovering from early losses, now gaining for a fourth straight day, the longest stretch since october. the jobs headline number was strong, but wage growth was really not there. it took some time for investors to catch on. alix: it appears like the market is interpreting this as a little bit of good, a little bit of that, so maybe this will go the straight and narrow. they have a huge rate hike, not necessarily issuing caution. it could be like these stocks are machine -- mushing around it but when that did not mush around. in justck is up 83% three days. the biggest three-da

alix: and i am alix steel. bloomberg news has an exclusive interview with canadian prime minister justin trudeau. hear what he says about lower oil prices and stronger relations with the u.s. scarlet: just in time for st. patrick's day, copper turns green. is it fleeting? alix: as google given up on robots? it is contemplating selling boston dynamics. could amazon be a buyer? scarlet: we want to go to the markets desk, where julie hyman is. the dow is now in green for the year. julie: erin go bragh, i guess, for the markets today. stocks rising about to the highs of the session. even the nasdaq is in the green. it was resisting for much of the day. the s&p 500 going above its 200-date moving average, the technical a full -- technical level many traders have been watching good the dow is gaining strength as the day continues. the dow is green for the year as well. if you look at the year-to-date chart for the dow jones industrial average. .2%, as we have had this run ever since a february 11. the s&p is .2% lowe

job report in three awesome charts. ♪ alix: i am alix steel --"what'd you miss?"obs friday. matthew boesler joins us. at thelooking unemployment since it between a 25 and a 54 euros. why is that key? this playing out in the 25-54 prime age age group, an important category because this strips out retirees and also students. when you can see here is that median wage growth for that age group has been rising. raisesr about stagnant -- wages. that is not the case for 25 to 54 euros. if we see another pick, and will be a good sign for wage growth. alix: wage growth is there if you look hard for it -- look in the right place. matt: exactly. if you are under the age of 55 and over the age of 24. tracy: let's look at the second chart -- the spread between the an appointment rate, which is one of janet yellen's favorite things and the u3. tell us what this is -- matt: a proxy for how much slack is in the unemployment market. you can see it is elevated to -- relative to precrisis levels. that implies there is a significant amount of shadow slack. if that keeps coming down,

alix steel: i am alix steel. stocks are in danger of snapping their winning streak. first loss inits march. says tesladrew james is back on track. she says the stock will june/zoom higher. it is national women's day. scarlet: we want to get a check on the market activity. julie: it was triggered after we got economic data out of china. we saw it spread around the globe. commodities got on board as well. all of that contributes. you will see what i'm talking about. it's bumping along your the bottom. it's not as low as we were when the s&p fell 1%. we have seen something of a tracking of oil prices. nonetheless, directionally both of them are taking a step lower at the same time. oil prices are up 3%. there was an attempt at a rally in oil, but it could not be sustained. energy shares are the worst performers, down 3%. some of the recent winners. those of the losing -- losers again. they helped lead a recent rally and now they are gone again. financials are competing. alix: you have a draw into the treasury market. everywhere.here and look at the 10 year note in the u

alix: that was my exclusive ceo.view with the capstone ♪ alix: i'm alix steel. what'd you miss?s this. housing and construction orders in japan tomorrow at 1 a.m. we are awaiting estimate announcement from the japanese government. tracy: you know what else we have? and job cuts. also on friday we have nonfarm payrolls. alix: shout-out to joe, initial jobless claims, too. that is all for "what'd you miss?" john: i'm john heilemann. mark: and i'm mark halperin. and "with all due respect to donald trump's concerns about michelle fields' pen -- >> ♪ >> a class for grenade. three clicks, it arms the views. another three disarms it. seems to me they were right. >> she had a pet in her hand, which secret service is not liking. is it a bomb? >> ♪

i am alix steel.et: let's start with the headlines. mark crumpton has those from the news desk. mark: thank you. we will hear from republican presidential candidate, ben carson, later today. he was the -- he will speak of 4:45 new york time at the political action conference in maryland. he is expected to go into detail in his speech. he raised more money than any other republican contender, $58 million since he began his bid last may. cleveland is expected to buy to suits before at convention.publican it could draw up to 50,000 visitors. the center for disease control will hold a conference next month on the zika virus. the summit is scheduled for april 1 and inventive. is european union unio offering hope to agrees that it will not become a long-term haven for migrants. checks by theng end of the year. back, the eu is sending those who are ineligible. global news 24 hours a day, powered by are 2400 journalists in more than 150 news bureaus around the world. i am mark crumpton. back to you. alix: tha

alix: i'm alix steel. here's what we are watching at this hour. stocks drop around the world as the dollar extends its gains into a fifth day. the easter vacation looms. scarlet: copper prices have climbed 5% this month. one analyst says that relationship with oil is about to decouple. alix: the second smartphone revolution is underway. delivering essential services to people who did not have them before. how will small businesses cash in? torlet: let's first had over the markets desk where julie hyman has been tracking the trade. the trade has been slow, but there is a direction to this. julie: a downward direction, for sure. a holidayp with shortened week. trading binds have been lower than the average. them come weighing on industrials as well. because of the losses we have seen this week, we have all three major averages now in the red for the year to date. 500 wasvery in the s&p short-lived. here is an interesting chart coming to us from the bloomberg. one of the folks at bloomberg noted the pattern we've seen in msci world index thus far is

alix: this is liquidity. essentially is showing liquidity from a standpoint of companies that not only have a high share ownership percentage but a lot of different hedge funds. you can see since july, those shares are down about 50%. the companies that do have that crowding effect, they are getting hurt the worst. hedge funds are closing up and it's hurting a lot of different names. scarlet: thank you so much. alix: as we have been covering, she'll pioneer aubrey mcclendon died in a car crash in oklahoma city yesterday. charlie maxwell, former senior spoke to usst, earlier this afternoon. >> he was a very sociable fellow and very well-spoken, capable of about energy in any context. i found him to be quick, alert, fun to be with. miss him. he had a very controversial life and we understand -- i will miss him. he had guts and determination and he build a great company and the effects of building that company or felt throughout the united states and the world as he helped to bring down the price of energy over

alix: i'm alix steel.his is in special specifics invest in circumstances rather than the fundamentals of stocks. scarlet: the current environment in europe he says has created one of the most compelling times he has seen. carol: we welcome everyone on bloomberg tv. this is the bloomberg advantage. the chief executive officer at evermore global advisors is with us. i love having you back with us to talk about special situations. we are talking about m&a activity. there's so much happening in europe, spinoffs, ray goff's -- there is so much happening and investors are not focusing on the fact that there's a lot of value creation underway. special situations are by definition special situations. that kind of ruins the impact of that kind of investing. what is the screening process when you are looking for companies to market has miss valued when you are looking at places where the data is not as available as it is in u.s. markets? we are looking for companies going through real strategic change. a perfect exa

alix versus mark orton. let me guess, commodities? alix: no!nervous going up against mark barton. rates thanpact over the fed -- this is a correlation 10 year yields. it is at the highest level since 2014, at .6. if you can get it to one, they go perfectly together. correlation does not mean causation. if they go increasingly negative, they have to find the money somewhere. how does the fed dictate long-term rates when you can see the rate coming from overseas? predicament.fed of scarlet: what does the fed do, or what does that leave room for? alix: quite frankly, it could mean nothing in terms of getting the 10 year yield up. scarlet: very germanic, especially over the last two months. mark, what you have for us? mark b.: february 11 of this year, that is when an index fell to its lowest level. since that day, almost five weeks ago to the day, the best-performing stock market in the world is greece. yes, greece. 28% since thep lowest level five weeks ago since 1989. does this rebound? technicalsome ta -- analysis. this is crying out for some t

alix: and i'm alix steel. certainty has exploded.a look at this chart from ubs, showing the huge increase in the number of times the fed mentioned uncertainty in this january meeting. what does it mean for stocks? julian emanuel had a forecast for 2175. chop -- a couple of the a couple of the charts he's watching. the first is the dow transfer. if you want proof that he's made a broad market bottom, look at the weakest link. in the month of february after bottoming in january after january 20, it's up 11%. leading to questions on whether all of the industrial weakness we have been seeing has changed since. look at how much farther it has steadily declined. is it bullish that we are moving up to that level or bearish that it's getting lower? that it is the question we were asking yesterday. scarlet: right, was it horrible? alix: exactly. but if you look at margin debt -- for new york stock exchange terms, typically falling margin is bad for stocks. typically it can be a sign have topped out. we haveu can see that rolled over. is it a

scarlet, alix? where to go to parties trade a financial instrument, which can be anything, but most popularly interest rate swaps. scarlet: and then they subtract the value from the derivatives, and professor duffy joins us from paris with more. $2 tolet's say it costs make the trade. how should the accounting work? professor: well, if the bond is $10, it should show up as $10. your shareholders may edit taking a loss on the funding costs. they make your creditors that iraq, the shareholders better off -- they make your creditors better off, the shareholders better off. so what is the better way to basically pay for these traits? fie: well, thee better way is to recognize this. the banks have tens of trillions of dollars in swaps, and they need to be more conservative about which swaps they take, not try to be conservative by marking them down themselves. what will benefit their shareholders. is there a precedent for this? i ask, because eggs are already playing nd of fast and loose with the rules -

alix: valiant looking at another unbelievable decline today. valiant is not on the s&p 500 but it seems to be casting a generally.ealth care it is a record one-day drop. the company cut its forecast. doubts about its ability to replay it that's. a lot ofear to be doubt whether it can do that. story hereincredible in one way to tell it is looking at the market cap. here's the market cap going back three years. the market cap was climbing and the playbook was to make a play with bausch & lomb are -- about -- with allison long. it made a number of small ones along the way, about 50 atuisitions and then peaked about $90 billion before plunging. remember they got the subpoena from house democrats questioning its drug pricing methods and there were questions about the fcc looking into the company and now the market cap is below $13 billion. remarkable moves. mark barton, we need to check in on what is going on in europe. mark: these are all the industry groups from the stock 600 today -- stoxx 60

we have the chart to show you, next. ♪ alix: i am alix steel. "what'd you miss?"chart you need to see on companies could a lot of companies have raised equity, so let's see how they did for investors. was pioneered resources, that white line, they issued equity here. here, -- up here, share price rally, share price rally. its rally and shares a rally, more investors are willing to give more money to oil companies, keeping them in business, giving them the money to survive. loterpetuates the supply a -- glut. if you're willing to give money to oil companies, they will take it and keep producing. need to sellhey shares, that means they need to raise cash. think of the banks that have done that. alix: across the board for these guys who have issued shares. scarlet: it is a crazy world yieldu.s. 12 month notes more than a 40-year bond. the white line is the japanese 40 year bond yield, 56 basis points, where is the 12-month note yields 65 basis points. everybody talks about monetary policy diversions, this is the one they should look at. joe: bloomberg news did a vers

alix: u.s. stocks closing higher today. 2016,p recent losses for with the worst start ever to a year. but the question is, what did you miss. the job is challenged in court. our guest says the riyal is overvalued. scarlet: and white protections on the emerging political cycle does not make economic free-trade. >> consumer confidence funds -- fall to a five-month low. we have charts you must not miss. scarlet: we begin with the market minutes. you mentioned the s&p turning positive for the year. joining the dow jones industrial average. we had the highest levels of the year, a recent declines. six out of 10 industry groups within the index climbed with health care leading the advance. >> these numbers are pretty amazing. a $.5 trillion added to stocks value around the world in the month of march alone. we did not see just a huge amount of movement in u.s. stocks, but to your point it was really in emerging markets that saw a lot of moving happening today. the emerging market index is right above

alix: it is all straight ahead on "bloomberg best." ♪ alix: welcome and hello. i am alix steel.s is "bloomberg best." a weekly review of the most important is this news, analysis, and interviews from bloomberg television around the world. it has been a momentous week for monetary policy with rate decision from the bank of japan, the u.s. federal reserve, and the bank of england. on monday, the top headline was disappointing data from china. >> the latest data from china likely to heed more pressure on the leadership as they try to meet this year's growth target by 6.5%. industrial output and retail sales both slowed in the january/february here. . february. >> industrial output rising just 5.4%. that is below estimates and that suggest sluggishness in demand from abroad. factory deflation is persistent -- has persisted now for some 48 consecutive months. retail sales is a key barometer for the government for consumption trends. it climbed 10.2%. forecast ofthe 11% economists surveyed by bloomberg news. >> we are also seeing pressure on the currency. he did project a sense of cal

alix: i'm alix steel. update you on the situation in brussels. brussels airport will be closed tomorrow, march 23. he will be evaluating and deciding if the airport will resume operations on thursday. here in the united states, we have learned that security will also be tightened at airports, real stations, as well as ports in the u.s., all in response to the deadly bombings in brussels. the u.s. department of homeland security will be making an announcement later on tuesday. we spoke to bloomberg on those plans. eu leaders have responded to the tax, they vowed to respond with all the story means. pretty much showing a united front within that block in response. angela merkel of germany says her cabinet will discuss efforts to stem terror on wednesday. sadness,voiced deep matteo renzi of italy says intelligence services need to work together and he is offered italy's help is needed. francois hollande has called on all of europe to pledge their support, and pledges a safe environment. alix: credit card debt is booming, economic confidence is falli

alix: thank you so much.cle just announced an additional $10 billion buyback, but the wear of a slowdown in buybacks. ♪ scarlet: i am scarlet fu. buybacks are more important than qe's. easier for u.s. companies to repurchase their own shares. the fed bond buying program lasted only six years. we have a chart that shows it all. corporate buybacks are a huge source of demand for equities. 2.6 trillion dollars between 2008 and 2015, the purple line, more than qe, which is the orange line, the fed purchase of treasures, $1.8 trillion. investors should be more with buybacks than the end of qe. >> those are big numbers, quite surprising. if buybacks where this important to the equity market, what happens if buybacks rollover? the first is rising yields, more expensive to borrow. this is how much high-yield is, aaa, and right around highs of 2013 in terms of high-yield, so if it is more expensive, why we spend the money? negative yields could be helpful, but that something also potentially negative about the growth

alix: i'm alix steel. "what'd you miss?"nadianew prime minister justin trudeau, he spoke about how the new stimulus package would ramp up rose for the struggling economy. prime minister trudeau: we had a massive stimulus package following the recession. talking $80 billion, this is much more modest, much more responsible. what we are looking at is not trying to jewel the economy into life as to lay the groundwork and foundation for better growth, better productivity over the long-term and not just an instant influx. i think the challenge when you are trying to shovel money out the door is that it doesn't always get spent on the right ring. what we have decided on our infrastructure spending, which is going to be a massive investment over the next 10 years, the first two years, we are going to do the fun sexy things -- re-capitalization of infrastructure, maintenance upgrades -- the things where you don't get to cut a ribbon and announce a shiny building on. necessaryt are really to keep the pace up in terms of in transit peo

alix: and i'm alix steel. we are seeing the best first day of march in 14 years. we will see if they have some staying power. berkeleyshares of taking a dive. cost-cutting lies ahead. alix: apple and the fbi prepared to face off in a security versus privacy hearing. we will have it live for you when it happens. scarlet: we want to get a snapshot of today's market activity. julie hyman has been tracking the latest session highs. march 10 supposed a 2.2% gain. julie: and it also rises more often than not. i was looking at the research group. 68% of the time going back 50 it.s, we see past performance does not determine future results, but you do see that pattern. highs of the session right now. again almost across the board with the exception of utilities. thanks and technology lead the upside. consumer and discretionary also help leading the gains. a lower than average volume we have been seeing is starting to change a little bit today. it is about in line with the 20 day average. that has been lower than the past 100 day average. that we are catching up today has

alix: thank you very much. tomorrow, we will have full fed coverage from bloomberg across all media platforms. it begins at 1:00 p.m. in new york. sales raisingish concern about consumer spending. one retailer is coming back to life. jcpenney shares are up about 68% this year. alix: we spoke to vonnie quinn about the outlook for the company. >> the key for us as creating great shareholder value and shareholder return. if you look at 2015 we heard a 4.5% sales comp, which was best in the sector. byincrease our gross margin almost 300 basis points. we reduce our corporate overhead significantly, and we are moving in the right direction. it is less about trying to get back to a specific sales level, it is about executing well and creating an environment for customers to come and shop. we are making progress along those initiatives. >> do you have overall target? take 10h and it would years to get back to get to that level. what level are you targeting? different.ness is if you go back to 2011, consumer -- consumer

i'm alix steel.north carolina, battle lines are being drawn over a new state law preventing cities from approving sections for lg bt citizens. the state's attorney general says he will not defend the law in court. the measure was passed by a republican-led legislature and signed into law by republican governor patrick worry. -- pat mccrory. michigan governor rick snyder has signed a bill providing for human -- providing $49 million to keep detroit's schools open through the end of the year. the district was in danger of running out of money. the faa says it is changing its policy and will let commercial drones fly as high as 400 feet. the previous limit was 200 feet. with a waiver process, the faa can authorize some drones. exhibit drones can now fly at the higher altitude. ice covered the smallest extent of motion in the arctic for the second straight year. described crazy warm temperatures keeping areas of see from freezing over. -- of sea from freezing over. details are expected in early april. ne

scarlet: and we speak to john carlin about cyber security up next. ♪ alix: i'm alix steel, "what'd youer attacks were launched u.s. financial institutions in new york city, in hopes to undermine u.s. market the national security. joining us now to discuss the details and the significance is u.s. assistant attorney general john carlin, and washington, d.c. what is the significance of this case? john: i think what you seen is that we are determined to hold individuals accountable, whether they are affiliated with a nationstate, or a terrorist group. and, no matter where they are in the world. what you saw was very serious conduct, they attacked 46 financial institutions and caused tens of millions of dollars worth of damage. they affected hundreds of thousands of customers. byt we have shown today is face, by name, that we can determine exactly who they are, and what they did so we can hold them accountable. iran has no extradition treaty with the u.s.? what you hope to get out of it? think this is an approach we've talked about for a wild now, working with the private sector so we can t

i'm alix steel.e continue our review of the week's top business news with a company that did not have a good week. in fact, in one bad day shares of valeant pharmaceuticals fell 60%. major investors lost $5 billion. let's look back at valeant's terrible tuesday. we have got to bring our attention back to valeant, shares plunging today after the drugmaker cut its 2016 forecast that is lower than what it predicted in december. what have we learned? >> this is one of the craziest things. one of the things that just happened on the call, they put out guidance earlier saying adjusted ebitda and then they put up a slide on the call and said, oh, it is actually $6 billion. they corrected their own release of guidance hours after issuing guidance. the stock is almost -- this is going very badly. stephanie: what does that say about mike pearson? when he came back into the company, they do not come out with numbers because he said, we are not ready. we want to be sure our teas are crossed and eyes are dotted.

alix: i am alix steel. joe weisenthal is off today. ♪ u.s. closing higher, the 10 year yield at the highest level in months. scarlet: the question is "what'd you miss?" aubrey mcclendon dead today. majort: watch crude as a global concern. one: a roundtable debate, person says there is no sign of a turnaround anytime soon. scarlet: we start with breaking news. alix: aubrey mcclendon died in a car crash in oklahoma city today. for more i want to bring in tina davis. is an incredible loss for the energy community in the

♪ alix: you are watching "bloomberg best." i'm alix steel. the third consecutive week, multiple u.s. state health -- states held presidential primaries. on wednesday, president obama unveiled his nomination to fulfill the supreme court vacancy and combine that with regional elections in germany, budget day in the u k, and the close of the national people's congress in china, it all adds up into an exceptionally busy week in politics. >> the democratic union party failed to capture two western state in regional elections. >> it is hard to underscore how disastrous this is. the decline that they have had in key states. here, it isersation all anyone is talking about. what you see of the map is where you see the christian democrats holding on in the east. look at that blue state. 4% unemployment rate. by all accounts, things should be going well. it is the birthplace of the cdu. they failed to win back that state. they also did not win back the other eastern states. this is a right-wing party that initially sat on itself in opposition to the eur

alix: thank you very much.let: we will be back on more on aubrey mcclendon. ♪ to first wordt news. marco rubio insists he still has a shot at winning the presidential nomination. after heto reporters and his wife cast their early ballots and florida's march 15 primary. tuesdaybio says super was positive given his win in minnesota. ae white house is vetting potential nominee for the supreme court, according to the new york times citing a person with knowledge. neither kelly know the white house is commenting. background checks for gun purchases surged 41% last month, 2.6 million, making february the third week's month on record. there may be a new clue in the nearly two-year search for that missing malaysia airlines plane. an airplane part found along the coast of mozambique comes from the same type of plane, a boeing 777. global news 24 hours a day powered by our 2400 journalists and more than 150 news bureaus around the world. i am mark crumpton. close atu.s. stocks session highs, climbing for a second day, an

alix: so much drama.ore on the s&p markets, our says intel's been from the beginning of the year may crop back up again. mark b.: now joining us, matthew beasley head of global investors is here. beneath thetorm calm? energy companies benefiting from the rebound in the oil price. of course we will see more volatility out of the referendum. does this rebound? marketsu said, global globally, a rough start to the year. six weeks ago, markets were at their lows in february. the things we were worrying about back then are still very valid today. brexit referendum, that was unknown unknown, and now it is a known known, something we know we are facing. it is very hard, i think, to argue for markets to run away from themselves. alix: one thing that has changed in the last couple of weeks if the dollar tapering off the rally. a weaker dollar. take a look at the bloomberg. this is a historical spread between the euro-dollar and emerging-market stocks. it is basically a fancy way of saying that emerging-market stock

alix: and i am alix steel.has an exclusive interview with canadian prime minister justin trudeau. hear what he says about lower oil prices and stronger relations with the u.s. scarlet: just in time for st. patrick's day, copper turns green. is it fleeting? alix: as google given up on robots? it is contemplating selling boston dynamics. could amazon be a buyer? scarlet: we want to go to the markets desk, where julie hyman is. the dow is now in green for the year. julie: erin go bragh, i guess, for the markets today. stocks rising about to the highs of the session

alix: thank you very much. weekend coming up, protests demanding the impeachment of president dollar also, book can it -- the president of brazil, but can't recover? ♪ scarlet: i'm scarlet fu. "what'd you miss?" it is time for the bloomberg business flash. almost 280 volkswagen institutional investors have signed on to a class-action lawsuit against the automaker, according to multiple media reports which say that legal action is over share prices that declined after the scandal. it hasn't yets seen the lawsuit and can't comment. alix: british oil companies are likely to get a break when the new budget is released. there is speculation that taxes on the north sea oil will become. british grid producers had been hit by lope low producing. scarlet: the collapse of the drumsh irish bank -- david had fought to claim bankruptcy protection and his eight irish law charges. he's accused of hiding massive losses from shareholders and faces up to 10 years in prison. and that is your bloomberg business flash. "what'd you

alec still coming with that one. ♪ alix: i am alix steel. why oil is rallying.ave the charts to prove it. take a look inside. ,il prices were following because they have seen so much of supply, they would have to go into floating storage, because we just had too much. immediate prices fell even further. this chart proves trade no longer works. this is the difference between wti one month and a seven month features. what you pay now versus seven months. as you can see here, that difference has been shrinking. the more it rallies, the smaller that gap becomes. the idea is that you can't just buy oil and then sell it forward in a few months time. tracey: but right around here it may have been profitable when the difference was eight dollars or nine dollars. her extensive to store oil offshore. but as the line increases, it will become more difficult to store it offshore. that idea means the markets are tighter and we think. you don't need to floating storage. if we needed it, prices would be lower. goldman sachs says because of that, he will not have the blowout gr

alix: i am alix steel. joe weisenthal has the day off. , transportation posing the biggest the klein. scarlet: belgium's worst terror , islamic state claims responsibility. the ripple effect from today's violence. what it means for open borders in europe. the markets, and what to expect before tomorrow's trading in asia and europe. ourlet: we begin with market minutes. the s&p dow falling carried the dow first thing falling for the first time in eight days. we are bouncing around unchanged for most of the day. light trading. yesterday was the lightest trading day so far this year. today withed that the trading innocently dow stocks about 15% 20% lower than a 10 day average. alix: i am guessing that low volume has been a theme for this month. i don't think it will get better given that we are going into a holiday friday and also we have 600 and it declines there. alix: throughout the day clawing its way back to neutral. a very similar story here in the u.s. if you look at the mini-futures, you can see the wh

alix: good to see you as always.ning to our special coverage of the fed decision beginning at 1:00 eastern. have reaction from rich clarida and bill gross right here on bloomberg television and on bloomberg radio. mark: a quick look at what is happening on european equity markets. for minutes away from the close, sitting on our hands with the fed in 19 minutes time. little changed stoxx 600. we have an up, we have been down. we rose for the third time. all about the fed today. that is the story. set around, wait for the european close just minutes away. ♪ mark: live from london and new york, this is the european close. stocks, tongue-tied ahead of the fed checking out. that's what it's all about today. tongue-tied, sitting on my hands. we are waiting. look at that. plus .01%. the stock 600 rising for the third day in a row. shares closing in the region of the decline of 4.5% lower. the co-chief executive said that he doesn't expect them to report a profit this year. traffic --nk dragging down other lenders. this is t

alix: happy anniversary. scarlet: where were you on march 9, 2009. alix: i have no idea. florida on a beach on vacation. i remember watching tv. scarlet: eight of 10 groups finished higher with energy leading the advance. the laggard was telecom. a quiet day, kind of like yesterday. at one point, we were higher and we eked out a decent gain. chesapeake was the best performer in the s&p. chesapeake is weighing the sale of some of its assets. it's where a lot of people are going for undiscovered shale, selling assets to pay for debt. it is a positive for the stock. joe: something i have had my eye on is that wild japanese market. a yield on a 20 year bond jumping up -- it's off a really low level. it shows how wild the market has become. is it supposed to be that volatile? scarlet: speaking of low borrowing costs -- a surprise out of new zealand -- the key we getting crushed after the new zealand bank unexpectedly cut interest rates. the reason is it was concerned by a drop in expectations. speaking of commonwealth countries, the loonie climbed to a seven-month high. the lo

alix: i am alix steel. joe weisenthal is off today. ♪ alix: u.s.closing mixed, oil first back-to-back decline in months. scarlet: "what'd you miss?" all eyes on the fed. this meeting is more important than it looks. candidates tax plan, we break them down. >> oracle earnings are out. we will see if the company is still on cloud nine. oracle results just crossing the bloomberg earlier than anticipated. third-quarter revenue $9 billion, less than analyst anticipated. looking to buy back $10 billion in shares.

alix: i'm alix steel. here's what we are watching at this hour. around the world as the dollar extends its gains into a fifth day. the easter vacation looms. scarlet: copper prices have climbed 5% this month. one analyst says that relationship with oil is about to decouple. alix: the second smartphone revolution is underway. delivering essential services to people who did not have them before. how will small businesses cash in? torlet: let's first had over the markets desk where julie hyman has been tracking the trade. the trade has been slow, but there is a direction to this. julie: a downward direction, for sure. catching up with

alix, k get off. oil.king about oil rally may be a bad thing for incentivizing investors to hedge. this represents producer, merchant short, position. ever since january, it has rallied of two of record high. you compare that to the oil price, this yellow line to when oil bottomed, february 11. both of them have been rising in tandem. goes, they are hedging. anything above $40 per barrel, you will see more hedging. -- it is must the id. it can cap any rally we may see. be ready. scarlet? mark b.: so, as prices rise, we see producers hedging. scarlet, beat that. scarlet: i'm so ready. this picture has been making the rounds on social media. mark zuckerberg going for a run in china. this blew up the internet. the skies are gray. people are criticizing him for forwearing a facemask, running through team among square -- tiananmen square. the higher the lines go, the .orst quality that air is there is a slow buildup. there is a different range. green is ok, healthy. yellow is unhealthy. orange is very unhealthy

alix: "what'd you miss?"nie sanders controversial economic plan claims it will andte 26 million jobs increase gdp by over 5%, but the new york times says those numbers are based on faulty math, and the biggest issue was an overestimation of government spending growth. economist now is the behind the plans analysis, gerald freedman. joe: thank you very much for joining us. showing much work more aggressive fiscal stimulus, more growth, more employment, more productivity than people this, but there is complaint that people have brought up about your math. they say that there is confusion between level and growth rates. do you stand by your analysis? >> yes, there's no math confusion. there is difference in models, perspective. model,ing a keynesian where we recognize that there is your employment, and when increase the growth of the economy and absorb some unemployment you can have faster growth, and that faster growth process. if you look at times when we , in had depressions before particular in the 19 30's,

alix: good to see you.in the next 20 minutes of bloomberg markets, in today's global business report, we take a look at a japanese business giant. they are buying assets from dell for $3 billion. as we head to break, we will look at some of the biggest gainers today. marriott, starwood among them. ♪ alix: this is bloomberg markets. i am alix steel. stocks fluctuating today. the nasdaq is the only index and the red -- it just slipped into the green. let's head to the nasdaq where abigail doolittle has the latest. abigail: we do have some volatility around. as you mentioned, the nasdaq did just move into the green territory, boosting the index to day, i.t. research increasing its subscriber numbers. this is a bit of a flip for .nvestor corey barrett the numbers there could be at .isk plus, the possibility that shares could move up on the olympics, of all things. alix: interesting. what is the drag? abigail: the biggest point track all day has been microsoft. the stock is down 1%. on the lack of any fundamenta

i'm alix steel.of valeant pharmaceuticals fell 60%. major investors lost $5 billion. let's look back at italian's terrible tuesday. -- at valeant's terrible tuesday. the drugmaker cut its forecast lower than what they predicted in december. what have we learned? >> this is one of the craziest things. they put out guidance earlier measures wasmain going to be 6.2% -- $6.2 billion. then they said, oh, it is actually $6 billion. -- this iss almost going very badly. >> what does that say about mike pearson? when he came back into the company, they do not come out with numbers because he said, we are not ready. here they are, boom, a big mistake yet again. who is checking the spelling over there? >> i am at a loss for words. mike peterson reassured everybody and in the time he has been on the telephone with analysts, the stocks fell more percentage points. things are getting weird. >> the approaching square coming out, saying the vice chairman is going to be on the board. they still say the underlying bus

alix: it is a huge week. new york tomorrow on thursday, the and that survey is amazing, a forward-looking indication of a small, medium, and large businesses and what they are feeling and friday is jobs friday. that feel me or does a little less important because it's the fed does not seem to -- theyt much anymore just care about the dollar in global markets. >> based on the recent data that happened in inflation, they should have height. my view on this particular argument is no one would stand that sisley's ago. >> this feels different. especially when you get a reading of 1.7% year on year. of where we were expecting. where is all the inflation? see much ofu do not it in the treasury market. that does it for bloomberg . a countdown to janet yellen and a special thanks to alix steel. ♪ >> it is 10:00 a.m. in new york, to clock p.m. in london. i am betty liu. vonnie: and i am vonnie quinn. this is bloomberg markets on bloomberg television. ♪ betty: we will take you from new york to detroit in the next ho

alix: what kind of concessions might they have to deliver?mpany probably has a list of items in mind the lenders wind and they will have to find a middle ground. this could be higher interest rates on the loan, faster paydown of the loans, they would demand a waiver. right now the banks are taking the temperature to see what would be the most plausible thing, the most this site -- acceptable thing and then they will draw up a list of items and say this is what we want to offer. >> so a big to do list. let's give you some of the numbers we are dealing with, this is using the equities go function which gives you the capital structure. coment has $31 billion blind in debt. that is quite a bit. when you look at the market cap, small by comparison. that is on the heels of this big lunch in the stock price. alix: we have seen a lot of debt and bankers willing to work with energy companies. they don't want a loan default. do you feel like the same niceties will be granted to valeant? don't lenders definitely want to push this company to default. the

alix: i'm looking at oil and what kind of rally we have seen. this chart at how much of the rally was due to demand. he found only two dollars ever since that february low is due to demand. he uses the model like ben bernanke have used and other currency versus the dollar as a way to stimulate what demand would be. beentells us the rally has about supply which shows how important it is we continue to see supplies shut in. is an interesting chart because we've seen a lot of people doubting the strength of the recent rally not just in oil. speaking of the recent stock market rally, i something a little different for you. this is shares outstanding of the velocity shares daily short-term extreme -- short term exchange traded note. betting on a return of volatility, basically ping into the etn. shares outstanding go up currently at a record. quite a few people are trying to hedge or are not trusting it. scarlet: you just don't know what they're positioning is. alix: for my deep dive, -- scarlet: for my deep dive, i'm looking at the one year breakeve