'm alix steel. here's what we're watching at this hour. the world's biggest names in private equity and venture capital are gathering in berlin for the 2016 super return international conference. we will go there live for an exclusive interview with ken mehlman. are they good times over for google and amazon stocks? some say yes. macy's is trying a new strategy. the company is turning several stores into discount outlets. will investors warm up to the retailer again? for more on today's activity, let's go over to julie hyman at the markets desk. it has been about oil and stocks again today. lows oftocks near the the session still as oil also made those lows. bouncing off the lows a little bit. this is as we see oil pretty much plunge today. we had the saudi oil minister at a conference in and confirming that there are no plans for a production cut by saudi arabia. oil is off by 4.5%. onto the april contract now. that is why the price looks higher than yesterday. we are still seeing a daily decline i

i am alix steel. scarlet: i am scarlet fu. art with the headlines. mark crumpton has them from the news desk. mark: at least 25 people were killed and dozens other wounded at the funeral in baghdad. the attack was the deadliest in a wave of recent explosions that have targeted commercial areas in and outside of the city. north korea says an american college student has confessed to what officials call a hostile act. he appears other news conference. a is accused of taking down propaganda side. all of this happening as the u.s. pressures for more sanctions against north korea. stephen rhodes will oversee a school district but will appoint person as quick as possible. covers nearly 25,000 players in the nfl. 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. scarlet: thank you so much. let's return to markets here. our next guest is underweight equities. he says that volatile markets are not typical and require an active strategy. joins us n

i'm alix steel. cameron's negotiation with fellow eu leaders are grinding on for a second day with no breakthrough inside for the so-called brexit deal. talks carried on through last night and they stretch their tonight and perhaps the weekend. >> i was here until 5:00 this morning working through this. we made some progress. there is still no deal. after i had -- as i have said, i will not only do -- i will only do a deal if we get will britain needs. we will get back in there, do more work, and i will do everything i can. alix: ryan chilcote is in brussels with the latest. yesterday,d i spoke you said cameron wanted to be back at noon for the u.k. to sell the deal. now the greeks may have thrown a wrench into this. what happened? ryan: you couldn't make this stuff up your david cameron not going to get back in time to announce a deal today. first it was the eastern europeans, then it was the french, then the belgians, now it is the greeks that have objections to this deal. we are making our way aro

alix: and i'm alix steel. we want to get to julie hyman at the markets desk we continue to deteriorate. right, julie? julie: yes, and there was not a particular catalyst for this selloff. there did not seem to be anything new that was out in the markets today, so that is findingg investors are unsettling here, especially when the nasdaq is down more than 3% and approaching a bear market. look at the s&p over the course of the day and the lows as it continues to bump along the bottom in the session. also take a look at the breath of the market. if you look at the imap on the bloomberg, all of the industry groups are trading lower. been week all year, the financials the worst-performing group your today. discretionary, health care, really anything having to do with sensitivity to economic growth has been doing poorly in today's session. also, we're seeing money flow into where people perceive as less risky. alix: so, you see money going into gold, the 10-year? julie: exactly. gold trading at their highs since la

i'm alix steel.ou are still seeing a selloff on a dow and s&p of about 2%. lows of the session. it was hard to find a catalyst but easy to find a stocks hardest hit. that resides in financials. bank of america dropping almost 6%. s&p financials hitting the lowest level since 2013. the weakness started in europe with those banks, seeing their lowest levels since 2012. the weakness from europe spreading over here to the u.s. it is time for the bloomberg business flash, a look at some of the biggest business stories in the news. the ceo of google is on the verge of becoming one of the highest it executives were a public traded company. pichait awarded sundar stock worth $199 million. the shares will divest between now and 2019. investors withdrew 14.8 ilya dollars from bill gross' fund last year. it is the third straight month of net redemptions. the fund is up .3% this year through last week. who needs to pay $5 million for a super bowl ad when you have peyton manning? the quarterback gave shout outs t

i am alix steel. scarlet: and i am scarlet fu. f credit suisse down sharply today, saying restructuring charges led to billions in losses. scarlet: planting -- francine lacqua spoke with the ceo, tidjane thiam. disconnectwe have a from we see in the real economy -- if you look at the u.s., the lower oil price is good for the consumer. most of the gdp consumption -- i will never very from that position. it has put more money into the pockets of the consumer. consumer feels good. his house is worth more. he has much more money from the lower oil price. what is not happening is he is not yet spending. people need to feel bigger confidence. that is what the markets come into play. bigger conference into the future, so we actually spend the money. there is a overemphasis on the oil sector. if you look at the price of oil over a long period of time, decades, we've had a few years of abnormal levels around 100, and $35, $30, is the historic average. to treat the return to an historic average as a major crisis -- francine: you think the co

. ♪ alix: i am alix steel. "what'd you miss?"n ore had a big comeback, the highest level in three months. rebound thatu the snuck up on everybody. the fourth weekly gain, the highest level in three months. needs iron ore to produce steel. we have finally seen supply cuts come in to the iron ore market. analystsve seen some say this is a head fake. fore it is a hopeful sign the global commodity producers in general. maybe there is a pause in demand, and may be some supply coming online so that prices can find a balance. alix: agreed. declining,have been the market starting to reprice. bottom,ore can find a does that spread to copper, aluminum, zinc, nickel. most commodities are still rock bottom. alix: except as zinc. watch zinc. everyone's favorite metal. emerging markets finally hit a bottom/ ? the near and long-term outlook, next. ♪ choose world. choose, choose, choose. but at bedtime... ...why settle for this? enter sleep number and the ultimate sleep number event going on now. sleepiq technology tells you how well you slept a

alix: thank you so much. always a pleasure to talk to you about gold. jim steel. coming up, more on volatility. an interview with jeff curry. we will ask him about that call. ♪ . . alix: it is 1 p.m. in new york. welcome to bloomberg markets. from bloomberg world headquarters in new york, good afternoon. here's what we are watching at big oilr -- is this the freeze question saudi arabia, russia and others agreeing to keep oil at january levels, but is it too little too late? the once dependable cannot miss recession predictor may not be so dependable anymore. thepressure on priceline -- online travel site reporting after the bell. how the strong dollar and the economy may impact sales growth. let's go over to the markets desk julie hyman has the latest. we are holding up. -- as i saye seeing this, i want to check and see if all you ms. lower today. is a vacation week here in new york, so we are seeing a lot of people away for the schools. all three major averages are feelng higher and it does like a snapback affect from the declines we have seen. we have risen pretty steadily to the highs of the

i'm alix steel. scarlet: i'm scarlet fu. o get a look at the biggest news in business right now. to keeps struggling their bonds from falling to junk. the outlook for the rating is negative which means more downgrades could be ahead. moody's is the last of the ratings company to strip brazil of its investment grade. scarlet: facebook is replacing the like button with other options. and they started making other responses available in these countries, calling them alix: reactions. in jd power has identified the most dependable auto brand. thaneport questioned more 33,000 owners of 23 model year issues they have had over the last 12 months. the least dependable, dodge, ford, and smart. owners of those vehicles reporting the most problems. i love those smartcards, you can park them anywhere. jpmorgan is trying to escape the market clouds. ceo jamie dimon answered questions from analysts at the banks investor conference. alix: mike mayo was there and he is with us this morning to explain his questions to mr. dimon. >> my question

alix: and i am alix steel. >> oil prices rebounding. alix: and bonds have been popular in europe for the last year. but are they about to pop? betty : first, we want to get to julie hyman. julie: retail sales are coming better than estimated, but we are seeing a rally on a couple of things. secondly, oil prices are recovering. we have seen the correlation between the two that we have talked so much about. all three major averages are higher. as we just heard scarlet and , are we seeing a rally or are we seeing a rebound? take the dow as just one example. this is a two day chart. declines yesterday. gains equaling just about .02%. there is a preponderance of gain or movement coming from a handful of stocks. if you look at the movement, you have financials, again, counting for a lot of gains, goldman sachs, jpmorgan, travelers are the three top games in the dow. i also want to take a look at the average point swings. this is a look at the increased volatility. this is the average daily point swing going back one year. the past year was 209

alix: i'm alix steel. new concerns about the u.s. economy weighing on stocks. markets paring their losses as oil prices rebound. scarlet: wells fargo settling a long-running dispute with the government. alix: the bank of england was not expected to raise interest rate but that was before the bank of japan went negative with theirs. so come all bets are off. first, we want to check in with julie hyman for a look at how the markets are doing on this wednesday morning. give us a sense of what the pressures are. julie: all bets are off with regard to direction. having a volatile session here. a lot of different elements. we had an employment report that came in ahead of estimates had of arthritis government jobs report. -- ahead of friday's government jobs report. we have oil prices we are watching, german two years going more deeply into negative. all of that equaling a mixed picture. the dow holding up relatively well even as the s&p and nasdaq discontinuedline to decline -- continue to decline. an equal amou

>> and im alix steel. joe weisenthal is on assignment. u.s. stocks rebounding into the close. .hat a day, oil keeps tumbling >> the question is, what did you miss? posted a 17% gain, helped by youtube and advertising. and the numbers don't lie. we dissect how oils plunge has taken a toll on axon. >> but we -- eight hole on exxon. ll on exxon. >> but we begin with the markets. stocks doing fairly well, except amazon. netflix gaining almost 6% on speculation that apple could make an offer to get access to the tv content. >> we had a lot of data that came out today. speaking withr tom keene and saying look, we are paying attention to overseas developments. we don't know how that is going to fare. the fed is not committed to four rate hikes this year. their mind is open. on the downside, today was about oil. energy down about 2% on the s&p. exxon the biggest drag overall on the dow. at one point, we had a exxon and chevron dragging the dow down by about 19 points, despite the fact that oil was down around 7%. scarlet: with oil prices can see a, yo

alix: i am alix steel. this is your global business report. scarlet: here is what we are watching. a global safety net. the international monetary fund says it will build market confidence. alix: currency traders are becoming a dying greed on wall street. they are falling victim to automation. president former opec says there is reason to believe a deal will stick. alix: we start with the upcoming g 20 summit. finance leaders are heading to shank i'd this week. one key topic, how to strengthen the safety net of the global financial system. with money pouring out of imfging nations, the estimates nearly $4 billion exit world markets in january alone. that has spurred calls for policy coordination between emerging economies. scarlet: it is not a good time to be a currency trader. the job action suite coincided with the shift to automation. the 12 against banks cut currency staff by 5% last year. foreign-exchange headcount is down by 20%. oil prices are higher today. there is s speculation that russia could healthy global surplus. saudi arabia, russia, and watar reached a preliminary

we will speak to the expert on valuation. ♪ alix: i'm alix steel.for the bloomberg business flash. nordstrom's coming up short in the fourth quarter, the retailer missing revenue and earnings due to poor holiday sales. forecast foreek the fiscal year ahead. shares are falling in late u.s. trading. mcdonald's is boosting the pay of its ceo by 18%. his base salaries went point $3 million. the stock is up 23% over last year. citigroup is running to exit its retail operations in resell and argentina. has maintained operation into countries for more than a century. back tohas been scaling cut costs and boost profits. financial services company will not be exiting a line of his this in the institutional division. the government wants to make it to buy new cable boxes from companies other than your cable provider. proposal onoved the a 3-2 partyline vote. the new rules will likely take several months to write. companies could be allowed to deliver a cable feed as part of their streaming tv devices. that is your bloomberg business flash. is it time to buy s

i am alix steel. scarlet: i'm scarlet fu. or the biggest business stories in the news right now. scarlet: the company founded by actress jessica alba is working with banks for an ipo. --felt natural baby products it's also natural baby products. it is valued at $1.7 billion. alix: bilberry is cutting the number of its annual fashion shows and half, breaking tradition in the industry. make items on the catwalk available immediately. this shows will be directed at the customer. homes are morer expensive but financing does not cost as much. fha loans became cheaper when insurance premiums were cut last year. fha insures mortgages used uptly by first-time buyers, from 17% a year ago. and that is your business flash update. alix: let's go to our markets desk where julie hyman has a check on the company members. julie: i will start with oil and moved to come these related -- as you pointed out, it is time for the rig count numbers to come out. we saw a drop of 31 rigs. you can see the gradual work down in the rigs in the united stat

i alix steel. this is what we're watching at this hour a.ys to look for clues on where global growth will come from. innovation is only as good as the behind it, says a good -- a new report. battle over privacy. we make the event to apple's arguments, and how this case we have some to breaking news. mark crumpton has the latest. new jersey governor chris christie, endorsing donald trump . been mr. trump has speaking to reporters. he was asked by a reporter about endorsements, because he had said that at some point you do not believe that endorsements without important. however he called chris christie, his former rival for the presidential nomination a spectacular governor. mr. christie says he was mark: proud to endorse donald trump for president of the united dates. they are taking questions from reporters. let's listen in. my taxes have been under audit. for some reason i have a lot of rich friends, they have never been audited. i've been audited for 12 years. until such time as the auditors a routinewhich is audit, but until such time as

alix: and i'm alix steel. here's what we're watching at this hour. fueling the advance, prices have increased 7%. alix steel: hsbc may be relocating hundreds of investigators to paris, but the bank has a slew of other problems on its plate. scarlet: a hedge fund manager publicly by -- backing john kasich in his bid for the white house. who else is big money lining up behind? first we want to head open to the -- head over to the market desk, where julie hyman has been keeping track of things. julie: much like last week, the movement is still on relatively low volume below the 20 day average. a rally nonetheless

alix: i am alix steel. "what'd you miss?"tanley forecasting crude will drop to $20 a barrel. team boone pickens forecast a goes the other way. forecasts itckens goes the other way. barrel byarrel, $60 a the end of the year, because you shut down rigs all over the world. you down now and the united states for oil drilling rigs from 1609 two under 500 rigs. so you're going to see the decline in production fast, but watch out for recession. hits,t: if a recession what does that mean for you and your position? >> right now, i don't have a position. i'm just sitting here. i'm waiting for the opportunity to come back into this oil market. >> hold on. back that up for us. you're sitting predominantly in cash right now? >> yes. >> i wonder where you would go. if you come back in, what sign do you need to see to get back in, and how would you go about it? that we havelieve seen the low. i don't think we will go back there unless it is recession, ok? don't get in a rush here. you can get plenty of opportunity. the market will be volati

alix: and i am alix steel. scarlet fu is off today. over 300 points, stocks coming back into the close. the nasdaq off now by 1.8%, at one point also down by 3%, but we did see some kind of recovery, but nonetheless, it was a very moving day for stocks, goldman sachs one of the biggest hit, its lowest level since 2014 come the financial stocks within the s&p. can absolutely, and someone look at that selloff and say that was a really ugly day, but compared to where we were around 2:00he day, p.m. in the afternoon, it was much worse than the dow selloff, and even the nasdaq, nowhere near as bad as it was. still though, no basically sea of red. new 52-weekake lows, and only one nasdaq 100 stock is up 10% this year. it speaks to how widespread the selloff has been over the past seven to eight weeks. joe: absolutely, and when will be go into a bear market? for a lot of markets, this the like a bear market even if the headlights have not really reached people's technical definition of it. the nasdaq down about 14.5% this year, the s&p down o

i am alix steel. it is time for the bloomberg business flash.'s berkshire hathaway disclosing $400 million stake in pipeline operator kinder morgan. held 25 million shares as of december 31 according to a regulatory filing today from the company. kinder morgan shares rising in late trading. china's holding of u.s. treasuries fell to a 10-month low. a report shows china had $1.25 trillion in bonds of a notes, and bills in december, down more than $18 billion per month earlier and little change from a year earlier. in puerto rico have approved a last-minute bill to restructure the heavily indebted public power company. the $9l seeks to reduce billion debt as well as diversify energy resources. bondholders have threatened to go to court if the bill was not approved by today's deadline. that is your bloomberg business flash. "what'd you miss?" america trying to recover from an 8% drop after the company reported a massive $5.6 billion loss this morning. the company is commodity -- cutting commodities to focus on consumer facing resources. with americ

alix: and i'm alix steel. today. fu is off ♪ u.s. stocks seeing another huge rally. hird straight day. the dow jones rising 250 points. what'd you miss? alix: it's time to buy oil. prices is below $30 are unsustainable. joe: interpreting the yield curve. what it means for the fed rate hike timeline. alix: walmart in trouble. closing the most stores in two decades. we breakdown numbers ahead of earnings tomorrow. we will start with the market minutes. another unbelievable rally. this is the third day the s&p has gained 1%. that has not happened since october 2011.

m alix steel. ramy inocencio has more from the news desk. we had to turkey, were the country is blaming kurdish separatist groups for a deadly bus bombing. one of those groups is counted as a major ally by the u.s. in the fight against islamic state. the attack killed 20 people. meantime, google, facebook, and other tech companies are supporting apple in its fight against the u.s. government. apple has rejected a court order to help the fbi unlock an iphone used by one of the shooters in a terror attack in california. the coalition of big-name tech companies says firms should not be forced to build backdoors into their tech products. notors without borders will inform syria posco government or its russian allies about the location about some medical facilities, such as the one hit by a deadly airstrike this week. there have been repeated attacks against health facilities during syria's civil war. one health facility was hit eight times. ted cruz leads all presidential candidates in the race for donations from the oil industry. that is accord

alix: i am alix steel. scarlet fu is off today. ♪ alix: u.s. stocks closing mixed.or the first time in three days. joe: the question is "what'd you miss?" ,lix: inflation creeps higher consumer prices rise the most in four years. ecb -- says the next guest rally might have more legs. we begin with our market minutes. we are looking at the best week , so fars&p, the dow, a this year. the best day for the nasdaq since july. joe: now positive since november. tuesday wednesday, extraordinary rallies, much quieter in the second half of the week.

alix: i am alix steel. ♪ alix: u.s. stocks closing higher, what a reversal. is "what'd youon miss?"e we headed for a bear market. can the u.s. economy kick into higher gear. and 3000 jobs a month as possible. how currency volatility may be impacting corporate america. we begin with market minutes, turn around gaining steam, erasing losses, nine out of 10 industry groups closing higher. financials continue to lag. joe:

and i am alix steel. ♪ alix: u.s. stocks closing at session highs, the best two-day gain.opec members work together to freeze output. will it work? us forldman sachs joins his take on oil. alix: we begin with our market minutes. what a day, what a rally. the s&p closing around the highs. the best two-banged date rally

alix: i am alix steel. ♪ alix: markets claw their way higher. opec's is ready on production cuts.of 2%. oil is clawing its way back off of a 12 year low. joe: the question is what did you miss? tumblingglobal stocks toward a bear market. we break down the move sector by sector. of a globalears recession. our guest says the focus has moved from china to the u.s. >> a good interest rate, do they actually work? rates, doe interest they actually work? we have an extra half hour to dig in what is going on domestically and abroad. -- examine all the major scenes including the strength of european banks, china, and the u.s. economy or it lets get to three things that caught our attention in the market. , and&p fast cash index index you wind up looking at. i'm looking at is on a tick by tic basis so you can get the lows here. hit,an see the lows we this one back in 2014. the low in january was about 1812, and here we surpassed that low on intraday basis around 1810 and were able to move up above that level. this is significant. can it hold? what happens if we break below the level? bob sa

alix: and i am alix steel. >> oil prices rebounding. nds have been popular in europe for the last year. but are they about to pop? betty : first, we want to get to julie hyman. julie: retail sales are coming better than estimated, but we are seeing a rally on a couple of things.

joining me to explain the deal alix steel. look at that. we can call ourselves what we want. deal, pseudo-deal, where are we? alix: it does not mean it cannot become a real deal in the future. in saudi arabia. already freezing production at current levels. plus, cutter would have a difficult time ramping up reduction anymore. in essence, they are agreeing to something that already happened. facto, they have to freeze it. that is why i am saying state deal. the materials are happening in the margate. the real test can come in the summer were saudi arabia ramps up consumption to meet domestic demand. when it does not, that is on the freeze could actually mean something. it will not really work unless we had other major producers participating. iran and iraq are the ones we're waiting for. >> iran has said they will not freeze production until they ramp up to presenation levels. a want to export 1.5 billion barrels per day by march. iraq has not said it had -- it would cut back at all. why would they want to do that when they neither money? brendan: let's look at the terminal. th

i am alix steel.carlet: i'm scarlet fu could let's start with the bloomberg first word news. mark crumpton has those. in hampshire, candidates are still stumping hoping to sway voters in the nation's first primary. hillary clinton was outside a polling station in manchester, looking for last-minute support. surveys indicate she will probably lose to vermont senator bernie sanders. on the republican side, donald trump is expected to win big, but the real fight is in second place for ted cruz, marco rubio, john kasich, and jeb bush. we will have a two hour primary special with "with all due respect" beginning at 5:00 p.m. new york time. the fbi investigation into hillary clinton's use of private e-mail server while secretary of state is free of outside political influence. loretta lynch says the i inquiry is independent and is used on tax and evidence. the investigation is ongoing. present obama is calling for a $19 billion cyber security plan. it's included in the budget he sent to congress today. the

alix: i'm alix steel. new concerns about the u.s. economy weighing on stocks. their losses as oil prices rebound. scarlet: wells fargo settling a long-running dispute with the government. alix: the bank of england was not expected to raise interest rate but that was before the bank of japan went negative with theirs. so come all bets are off. first, we want to check in with julie hyman for a look at how the markets are doing on this wednesday morning. give us a sense of what the pressures are. julie: all bets are off with regard to direction. having a volatile session here. a lot of different elements.

alix: i'm alix steel. scarlet fu is off today. [closing bell ringing] alix: u.s.ing this lower, snapping a three-day rally. joe: the question is "what'd you miss?" alix: will prime minister david cameron win enough concessions to pave the way for a referendum as soon as june? joe: how much debt is too much? we talk about which countries may be flirting with danger. and negative rates are not a good idea according to blackrock's peter fisher. we will ask him why. we begin with market minutes. we had a monster three-day rally in stocks could not hold on to their gains. the s&p finishing off by not too much but not having a rally there. in terms of sectors, you are looking at health care

alix: and i'm alix steel.up today just -- joe weisenthal is off today. ♪ [applause] u.s. stocks closing higher fivefriday, helping a days live that dragged equities into a bear market. scarlet: finding opportunity amid volatility. nearly 20 years of flat gains and financials. plus, how low can they rates ago. u.s. are real possibilities. alix: how problematic are european banks? we talked to our guest. ♪ scarlet: we begin with our market minutes. still looking at two weeks of decline, let's not get right away with today's rally. the biggest gain in two weeks. that is not saying a

i'm alix steel. 2%,major indices are off by the nasdaq getting hit the hardest, down by 2.5%. also increasingly higher come in terms of the dow up 24% versus the 10-day average for this time of the day. you can put a lot of the blame of the selloff toward the banks. overall, here in the u.s., as well as overseas. bank of america dropping 5.8% in the u.s. you also have european banks leading the declines overseas. the greek of banks, of course, getting hit the hardest. the stock exchange getting hit the hardest among all indices across the globe. let's get to julie hyman who is monitoring the market moves. julie: we are seeing a selloff today. you can put the blame on the financials, but who can you ultimately put the blame on? confos what is so

>> i am alix steel. ♪ stocks closing lower, oil at $28 a barrel.tion is "what'd you miss?" economist say it is a real possibility. >> want to profit from volatile markets? one thing you should not be doing. >> all eyes on twitter tomorrow. facebook and snapchat making growth harder. market minutes, a third day of losses. the nasdaq, fifth the klein in seven days. -- fifth decline in seven days. nasdaq underperforming. faded andoon rebound lost steam. joe: a lot of anticipation for janet yellen tomorrow.

i'm alix steel. here's what we're watching at this hour.gest names in private equity and venture capital are gathering in berlin for the 2016 super return international conference. we will go there live for an exclusive interview with ken mehlman. are they good times over for google and amazon stocks? some say yes. macy's is trying a new strategy. the company is turning several stores into discount outlets. will investors warm up to the retailer again? for more on today's activity, let's go over to julie hyman at the markets desk. it has been about oil and stocks again today. lows oftocks near the the session still as oil

. ♪ ♪ alix: i have alix steel, "what'd you miss?" we got a slew of vinegar mcdata.e -- economic data. now the take away. spending,t consumer real spending on recreational goods. how come that stood out? >> we had a really big pop in consumer spending. if you go beneath the headline to some of the sub series, they are interesting. this caught my eye because it is kind of a good gauge of how consumers feel. the more they spend their paycheck on recreational goods and services, that would speak to a more optimistic consumer. joe: this is the highest level in some time? 2009.e six years, since the factory are spending more on recreational goods, and it has really ramped up over the last -- joe: that is most recreational stuff. alix: what is that? >> sporting goods, skiing, exactly. all that sort of stuff. that is a good sign. it has been flatlining for six years, and in the last month it has really taken off. that speaks to the momentum. alix: consumers are optimistic on their financial situations improved. >> it is not often we get a multi-punch of super confidence and

. >> and im alix steel. joe weisenthal is on assignment. u.s.unding into the close. .hat a day, oil keeps tumbling >> the question is, what did you miss? posted a 17% gain, helped by youtube and advertising. and the numbers don't lie. we dissect how oils plunge has taken a toll on axon. >> but we -- eight hole on exxon. ll on exxon. >> but we begin with the markets. stocks

. ♪ alix: i am alix steel. "what'd you miss?" have commodities bottomed?icator of the commodity super cycle ending. what is australia telling us now? we spoke with the minister of resources and energy and asked if commodities have hit their bottom. bottomn't know where the is, but a lot of that heat has come out of the market as a result of supply and demand dynamics. in the energy space, we've seen the shale gas revolution in the encouragetes production from saudi arabia and iran coming into the market in a big way, all putting downward pressure on prices. , where australia is the largest exporter in the a massiveve seen investment in new production capacity, which means that australia is now exporting three times the volume of iron ore than we were a decade ago, and other major companies have done the same, so we are seeing more supply in the market. a result increasing as of demographics, increased urbanization, increase middle classes in populations, but at the same time supply has been growing faster. there have been avoid a that china can heart econo

. ♪ >> live, this is bloomberg markets and i am alix steel. scarlet: i am scarlet fu.hing fromas our news desk. mark: 38 people are dead and dozens more wounded in a suicide bombing at a funeral north of egg dad. state has claimed responsibly for sunday's twin bombings. over 100 people remain hospitalized. the pentagon seeking $34.7 billion for cyber security in an effort to beef up offensive military capabilities. the defense ash carter said american forces are now so sexily disrupting the terror group using cyber weapons. >> in the campaign and particularly in syria, to commandingl's control to cause them to lose confidence in their networks, to overload their networks so they cannot function, and do all of that will interrupt their ability to command and control board -- forces there. collects space operations including offense would get $14.3 billion as part of the plan. president obama awarded the highest military honor to a navy seal today. junior operator edward is the first living active member of the community to receive the award. buyers met with reporters. >

i am alix steel. here is what we're watching. a new currency war.ctive on the fed, china, the oil glut and more. investors are running out of patience with european banks. the zika virus and the threat of airbnb, how much will these headwinds impact earnings? we have that preview. for more on today's activity, let's send over to julie hyman. julie: we have this rally going on. we seem to have skipped europe somehow but we are seeing this rebound effect with stocks in the u.s. rise for the second straight session after being closed yesterday. they are extending the gains here today, the nasdaq, the underperformer of

. ♪ i'm alix steel. let's get to mark crumpton.ark: president obama and chinese president xi jinping agree that test by north korea would be another provocative and destabilizing action and in violation of multiple resolutions. the north announced plans for a rocket launch that could take place as early as next week. japan and south korea are mobilizing ships and missiles in anticipation. moscow plans to present new ideas on how to restart syrian tea stocks. one suggestion may include a cease-fire. tensions were high outside of the un security council as britain and france blame their offense on aleppo airstrikes for the suspension of talks. its firsts reporting death by the zika virus. brazil is the hardest hit of the more than two dozen countries affected. researchers found the virus active in saliva and urine and they are great to send test samples to the united states. the fire department says one person was killed and three others seriously injured far wing -- following the crane collapse in manhattan this morning. the acciden

alix steel was particularly struck by something you wrote about hedging. producers hedged production last year. have to keep producing going forward. there's two problems with this. one is management incentive. economics that always drive behavior. the hedging aspect is something that has been there for a long time since the shell revolution. edge to makeh your creditors happy. get,pportunity they can they will try to hedge and lock-i in a price. what can we enforce and supply resilience? forives an opportunity producers to hedge and there is a nine-month lag between that activity and that decision and supply growth. we are sing nine months from the spring or summer. david: what are the ramifications for this across asset classes? adam: we worked with a lot of our different teams. good -- it does put balance sheet distress. assetwe looked across classes, is this problematic for hield? -- high-yield? it causes some issues in the banking sector. more issues in the regional banks. issue that worries me is that low oil may not actually be good for the global e

alix: and i'm alix steel.get to julie hyman at the markets desk we continue to deteriorate. right, julie? julie: yes, and there was not a particular catalyst for this selloff. there did not seem to be anything new that was out in the markets today, so that is findingg investors are unsettling here, especially when the nasdaq is down more than 3% and approaching a bear market. look at the s&p over the course of the day and the lows as it continues to bump along the bottom in the session. also take a look at the breath of the market. if you look at the imap on the bloomberg, all of in

alix: i'm alix steel. around $30 they'll could did anyone predict is volatile market? president obama will adjust the state of hiring later this hour. alix: who do you want to win the super bowl? portfolio could depend on the outcome. scarlet: we went to head over to the market desk where julie hyman is tracking a selloff of stock. julie: it's been selling since we got the jobs report. stocks settled on a more declining tempted the nasdaq has been

i'm alix steel. joe weisenthal is away on assignment. u.s.glowing closer today glowin closing lower today. >> the question is, what did you miss? chipotle's first earnings report since the e. coli scare. in justve those results moments. should not devalue its currency. our guest says the weaker renminbi will not fix the problems of china's economy. we begin of course with the markets. julie mentioned this earlier, hard to mention but this is the first back-to-back loss for the major indexes in about three weeks. it felt a lot worse. today we had a steady risk selloff. there's that

alix: i am alix steel. >> u.s. stocks closing lower.ll on speculation opec members won't curb output. joe: the question is "what'd you miss?" >> a healthy housing market. how the recent stock selloff is affecting business. joe: goldman sachs sees again for the s&p 500. we ask whether we have seen the bottom in stocks. alix: the launch of a new the global lng market, and who should buy his former company. >> we begin with market minutes. s&p 500 retreating from a six-we tied. -- six-week type. - six-week

. ♪ from bloomberg world headquarters in new york, good afternoon, i am alix steel.hat we're watching at this hour. mexico had a shock interest rate hike this week. the rallybanks say will be short-lived. can the currency survived the plunge and oil prices? be prepping the company for its sale. they say the board has formed a committee to explore its options. it will consider options from potential buyers. oil prices fall below $30 yet again. a record inventory in u.s.. talk of producers to freeze output level. from more -- for more on today's activity, right to the market desk were julie hyman has the latest. a repeat of yesterday, looking for direction. julie: looking for direction here today, we seem to have found ro

you will have it all with scarlet fu and alix steel coming up. ♪ >> u.s.mbling in the close. nasdaq sinking to its lowest level in five months. we begin with our market minute. we had a fairly decent jobs report that became a job day tumble and selloff. you mention the nasdaq. that late selloff push, deeper into the correction. not there yet but everyone is eyeing that level. 19% above the moving average. it was pretty much when you look at the momentum names of those were the ones that lead the decline today. alix: it was amazon, netflix, facebook. they erased 30 points from the nasdaq due to that selloff. it was hard to find a catalyst. when you get a good jobs report they tend to end lower but this was not ending lower. this was a selloff. you hadli

alix: and i'm alix steel. energy and financial shares leading the decline.livers quarterly earnings after the bell. how much damage the e. coli scares did to the business. tesla, the price supercharged. scarlet: julie hyman has been tracking the losses. continuee losses that to deepen for the entire session. trading pretty much at the low here. take a look at the bloomberg terminal and the energy source that we have been talking about all day, it's not just energy financials. consumer staples, all of them down 1% or more. this has to do with earnings and specific groups. it has to do with oil prices. 30.29 a barrel. we're looking at the oil and the s&p the last month. days or theyen have threatened to decouple but it has not quite materialized for any length of time. energy stocks on the account for 6.5% of the s&p 500. it feels like much more because oil seems to be this proxy for all kinds of worries. when it goes down, it seems to drive everything. alix: that does not make sense. it's not a typical correlation. we do have some positive stocks today. do be

i am alix steel. laser focus. minneapolis fed president neel kashkari described the attention to inflation and employment targets. oil prices climb after the output freeze sanctioned by saudi arabia and russia. iran is now weighing in. maker wins --lane white is not enough to prevent layoffs. let's head over to the markets desk where julie hyman has been looking at the latest. julie: the rally is continuing and we've seen a similar pattern over the past couple of days where stocks gain and then stay there. that is happening once again here in today's session. take you look at the bloomberg get more granular here as to the daily move i'm talking about. stocks gained steadily throw the day. yesterday, a rocky morning and steady afternoon. we are now up 5.3% over that three day period. what has done the best? financials and materials getting the most. here's the individual movers. report back rent and gold doing the best during this three-day run a 51%. moran.eport mac ran only 20 companies in the s&p 500 that are do