they had doubled down and bought i felt inferior assets who knows what they can do with baker hughes.> immelt is on a facebook live investor presentation right now. he said that the board did set this process in motion in 2013, that billion dollar the summer of '17 that succession would happen it's caused us to take stock of the times we had to chat with jeff over the last year or two here is immelt -- no, we'll listen to this for a moment. >> even though i love you all dearly, change is good we're standing up -- baker hughes a lot of the portfolio stuff is behind us and it gives john a platform from which he can lead in the future john is going to talk about himself but i had a chance to see john do five jobs in the last 16 years and gave me the sense of the kind of person who can run the company. first one was in -- one of the ge equity businesses in the early 2000s. he was in a tough cycle. he spent a long time in my doghouse - >> that's immelt talking about john flannery. he has spent half of his career outside of the u.s and done a lot of deals and development. interestingly, the

will and gas business with baker hughes. the key sets to creating the second-biggest oil field. tter ge says the down. hughesof the new baker channels a vote on the tie up. that is the way we rule on daybreak. they are not. to offer easy returns. finance ministers in luxembourg on june 15 to discuss the belief measures. -- really measures. measures. opportunities there, the fallout from the election in the leader will meet the today as she seeks an agreement for the tenant lawmakers to back the conservative program. our next guest could be a useful ally to the tories reduce the focus on reporters. a professor of politics at the university of liverpool joins us on the phone. great to have you on the program. for the market perspective, the key question is what will the du p do around brexit, how much will they soften the on arvative stance you >> pre-brexit party, they want the u.k. to leave the european union. they are allied with the conservatives. because they are based in northern ireland and northern ,reland does a lot of trade they are the single recipient wants a soft brexi

looking at pivot with baker hughes, we know that u.s.ll export about 1 million barrels a day overseas, there is an overhang. 45 to 55 are big margins, who knows what they will be able to do on ge side, best of luck to them. gerri: they have got another long-term ge player, plannery come -- flannery coming in, 30-year member of the team there. the beat may go on, we'll see, i want your thoughts on the market before you go. it looks like think it is taking it on the chin again, what do you make of it, where are techs going? >> right new there is a rebalances and refresh. when you see tech sector double returns than rest of market this year, everyone takes a breather, they are rebalancing going into laggards. that is why you see financial doing catch up, material and energy. but on a price to earnings growth, you need to be in tech, they are growing top and bottom line, they have the best balance sheets in the market, they can buyback their shares, they can increase their dividends. or implement them, one spot we're in the market right now,

everybody praised the baker hughes thing when it happened. >> in order to make real money in the marketu have to have, you have to be to believe in elements of concentration and volatility this is the opposite of concentration here, this is so diverse that it's always going to be mediocre we're going to have one part that's working, one part that's not. >> the first reason, he selectively buying grade assets. what i'm talking about he's got concentrated portfolio of stocks. he's outperforming the s&p for the exact reason i'm talking about. the concentration level. number two, he doesn't give a crap >> they're he needs to be able to take it out jack well, i think that's very important. in front of everybody and in the back room, i'm done. the bottom third >> guys who don't make the playoffs are done. they couldn't bring -- it would take too long for an outsider to get to speed >> all right >> can't get dave cody back. >> he's retired. >> wouldn't that be quick. >> travis might be available tracking bullish activity on a bank stock we'll tell you what that is. >> 10,000 calls. >> big so t

i actually do think that baker hughes deal is interesting >> sumptuous, opportunistic, treacherous.you have a word >> i don't know. >> come on. >> i love these liquid assets. >> i asked for one word, you give me like five. >> i know. >> i think you're right on the services i think there are some more interesting than the bigger names. if you want a play in energy right now, the only way to be involved is play in there. it is the most difficult investment you can put in. if you're going to play in there, i think there are trades outside of the big names that most everybody's talking about. >> can you tweet us at fast money and describe how you see the oil sector >> i like that >> set up a poll. >> i'll read a couple of them before we get out of here. >> i'm curious, when the dollar started to rally in 2014, that's when oil started to crater it got caught out from the highs at that point. when you look at the tight range in which crude is trading, it really doesn't have any upward bid. that tells me that the oil trade is not going anywhere. i just don't see it. >> i've got a word for

we had the gains operating in america per baker hughes. it reminds me of the drill, baby, drill days. oil isn't helping the energy sector overall, the worst in s&p is down 14%. not necessarily all bad news. if you are a consumer, which many of us are, the sector is the second best performer of the all sectors this year. it's up 13%, gains aren't really necessarily powered by traditional retail names, many of which are getting hammered in the market. a look at the year-to-date winners shows many are tied to the travel and leisure industry. check this out. 27% campaign in carnival cruises so far today. 30% gain in priceline.com. 35% in windsham hotel, how about a 55% gain in winn resorts. i understand you can argue much of the winn is macaw gaining. you get the picture. i haven't mentioned quick service restaurants, mid-scale restaurants are doing so far this year. scott, while consumers can find many ways to spends their hard earned money and fuel savings, it looks like many are doing travel and leisure, doing will be big beneficiaries. >>

the company also received regulatory approval for its merger with baker hughes. that deal was approved on the condition that ge sell its water and process technologies business. >>> on wall street overall, there was renewed pressure on the technology sector. the nasdaq posted its biggest two-day slide since december, and that took the rest of the market down with it. apple was the worst performing stock on the dow index, following an analyst's downgrade today and a price target cut. dow jones industrial average lost 36 points to 21,235. the nasdaq was off 32, and the s&p 500 fell 2. after outperforming the market this year, some say the pullback in the tech sector is healthy. others say it is not. so we asked bob pisani to lay out both sides of that debate. >> this sudden movement is generating a lot of healthy debate about whether the great technology run of 2017 is over. tech, of course, has been the big mover this year, up 17% and far outperforming the 8% gain for the s&p 500. there are arguments on both the bull and bear side on this. the bears argue tech is

i'm talking about prior to the baker hughes deal. range of other things.en not integrating. >> right loading up on credits before the financial crisis and then selling it at the low, too, someone wrote sent in someone who knows what they're talking about. >> well i would submit to you that actually financial services worked well from the time jack welch swapped in to that from nuclear power. up until the time it didn't. i mean they did a good job for a long time. and you know frankly when the financial crisis hit, it hit every financial. >> you were subprime in the uk, right? bought in to getting into that business in like 2006. it was almost a month before it hit the fan. that there was some acquisitions in subprime over in the uk >> yep >> right >> that is true. that is true and you know, it's not about any one deal but in the collective sense. now let's talk about going forward, okay? i had a hold on this stock for over two years today you have a little bit of a pop we think it's at a 28 to 23 dollar trading range when you talk about the numbers for thi

taken significant steps to partition off its oil and gas exposure by merging their business with baker hughesey go further with and consider a more definitive separation? john flannery's job is to operate the company. investors want to see results. they want to see the company hitting its earnings target and finding organic growth. they want to see if following thrown margin improvements. i think that is really his job here. are conglomerate's dead now question mark >> they are certainly out of favor if not dead. these moves come in waves. multi-s gave you stability. you could own divers businesses but that's out of favor now. i thought going after the honeywell aerospace business was a surprise but it's a continuation of people desiring simplification. i think there is more to come on that front. vonnie: will john flannery have make any immediate moves, something to show his strength or show that he is now in charge? think he is done a good job in health care business so i think he's got some goodwill behind him. growthup the organic slightly. he gave them 100 basis points improvement in mar

we just got in the last few minutes weekly baker hughes oil rig count, rigs down two to 756 last week. that's notable because we have been seeing a rise in those rigs for 23 straight weeks straight the blue- down here, line here is that recounts which we have been seeing steadily rising, production in the u.s. has been steadily rising although we do see a blip downward last week, which is one of the things that has been propelling oil prices higher. but the bigger picture this week notwithstanding is not necessarily bullish for those oil prices. anna: coming up on the program, the cbo is warning the u.s. will run out of cash by october. what will lawmakers do about that? we will talk to members of the senate budget committee. this is bloomberg. ♪ anna: this is "bloomberg markets , the trump economy." david: mark crumpton has first word news. said aresident trump change of tactics is necessary for dealing with north korea's new queer and ballistic missiles programs. he spoke today alongside the south korean president moon jae-in at the white house. pres. trump: the air of strategic pat

with bloomberg intelligence earlier, toing he had already started combine the energy cart with baker hughes moving it to the side. expect firstwe can from flannery, to isolate that part of the business more? >> there are certain actions under way. in the next couple of weeks, they should close the deal to combine their oil and gas business with a curious use. they will still own a majority stake, but that over the longer term, they might look to exit that. ge health care is also one business they might get out of. vonnie: thank you very much. coming up, a competitor to square and apple. ♪ vonnie: live from bloomberg world headquarters in new york, ism vonnie quinn and this "bloomberg markets." email michael is leaving uber, following charges and directors approving recommendations from a study into the culture at uber. a board representatives said they were going to take on every single one of the recommendations that the panel and the investigation into workplace harassment and culture found. once again, emil michael leaving the company. let's get a quick check on u.s. stocks now. we are s

and then of course the baker hughes. some judgments were made here i can't say he was entirely to blame with the monday morning quarterback. he would defend himself. his explanation would be i wanted to take ge down we want to be in health healthcare art some tech. we don't necessarily want to do that. it's interesting. it's at the future. and we don't want to do that. he will say that he get out when he could get out. obviously you can draw it and say look at the time and here it's horrible. the reason why he is out is less because of that and more because he didn't need the pretty simple benchmarks to try to put out there. and that was it. why he should leave if he didn't sept on right now. we got the headline that the baker use a deal has just gone through. around $3.83. were looking at a gain of 1%. we have to run on this. ge used to be considered a technology stock with a medical divisions. unlike the so-called fang stocks that are getting defanged has it has fallen for two days in a row. some of them are off the lo

of doubled down on that as prices were dropping and still waiting to see what happens with the baker hugh'searly playing with a very weak hand there and then they have they're other businesses not growing look at the health services where the new ceo has been leading and doing quite a nice job. they're not competing effectively there, the margins are not high and heir not showing growth there >> also on the media size, they use to own us, congress bought out stake at ge. if you we if immelt look back at ge tenure can you point to one trans action that might stand out the most good or bad >> the biggest one was getting out of financial services. that was always the one where when jack welsh needed an extra boost you can count on financial services when financial crisis hit, we learned ge was no better and maybe worse at analyzing risk which was so important in the finance business than every other bank that got sucked into it it was a big step for immelt to bite the bullet and say we're going to get out of this business and he did it in an orderly way. you're never going down in the record b

you know, the energy business in particular, this is a good deal with baker hughs, but ultimately, theye thing if e they try to run a conglomera conglomerate, it's pinned on whether the price moves up and down, creates uncertainty, and probably impacts a multiple longer term. >> and, finally, graham, who has a rival or competitor in the space, is getting this model right if ge is not right here? >> well, while there's an activist investor who might disagree with me, honeywell got it right for quite some time 3m does a pretty good job. those are quite more -- a lot more highly valued companies than ge at this point, but they have been delivering more consistency around top line and more consistency around bottom line, and their stocks are far less volatile than ge stock giving more certainty as an investor >> we have to go, but if they don't break the business up, do you think it gets to $40 a share or no? >> i think it's highly unlikely. >> all right graham, thank you for joining us >> any time. >> a look at the future of ge. >>> latest jobs report shows the labor market is tightening,

we saw the baker hughes numbers that showed new drilling occurred for a record 21 weeks. >>> the saudiinister has weighed in on the dispute in qatar as well. he told cnbc over the weekend it's up to the qatari government to find a solution. he also addressed last month's deal between opec and non-opec producers to cut oil production. we asked if he thinks the deal needs to be reviewed. >> it's too soon. when we made that decision to extend, it wasn't arbitrary. it was based on information on supply, demand,en in of that ns changed. weekly data goes up and down. sentiments in the financial market swing like a pendulum. but that doesn't change the fundamentals. what we can influence as oil producers is the fundamentals. the level of supply, which would result in drawing down inventories. once inventories draw down, as they have been by the way over the last few months, the sentimental issues that fluctuate from week to week will be overwhelmed by those fundamentals. i'm confident that the strategy is working. we've seen oecd inventories draw down by 80 million barrels a day. we've seen f

it didn't help that baker hughes rig count that was up today so more rigs continue to come online ins in most of all of that in oil and not gas rigs, although the total oil and gas together is up six. most of those were oil rigs. there's a lot of oil out there and continues to drive gas down and that has to be good, what are now at 2.41 national average and south carolina has been the first state to go under $2. we may have more states under $2 before we finish out the summer out which is crazy, usually stocks are going up right now. they tell us that shell producers cannot make money much below $40. that where we are right now. if you get much lower, you get guys offline and going out of business and that's not what we want. trish: we have seen the struggle play out for sure. jeff: back and forth. trish: keep everybody working and everyone employed and the industry along but if they shut down, prices go up. jeff flock, thank you so much. jeff: that's the markets. trish: indeed. someone in nasht are calling for unity in the wake of the shooting at the republican congressional basebal

chance thegood ownership and baker hughes will be spun off because of the way they have structured the new country any company. i think digital is the long-term strategy, but will not be a driver for many years. it is just too small relative to the size of industrial. it will stay industrial and have a digital kicker. david: thank you very much. great to have you. what is next for the fed? economicanley's chief economist will join us with her outlook. this is bloomberg. ♪ set ton: theresa may face furious lawmakers following last week's parliamentary loss pledgedris johnson has loyalty. george osborne has had a good time of the last week or so, labeling the prime minister dead woman walking. signs of stabilization across the channel. emmanuel macron expanding his control as voters put his party on track for a sweeping majority in the national assembly. joining us now to discuss both relativestories, the stability in europe compared to instability in the u.k. let's talk about it. how long can the prime minister hold on? >> it is a tricky one. we heard from a number of voices of the last

has won approval to combine the oil and gas business with baker hughes. this comes two weeks after a similar decision by european regulators and one hour after ceo willannounced the step down. francine: in the u.k. firms that clear euro denominated derivatives could be forced to relocate to the european union after brexit. they also said under these proposals to be rolled out today, firms deemed systematically important to the eu financial system could be required to accept direct oversight by eu authority. let's get more with our financial regulations reporter in brussels. which problem is the european commission trying to solve here? >> so, the issue is that, at the moment, most of the euro denominated firms are in london. so, back in 2011, the european central bank already tried to repatriate the system to the euro area, whciich sparked conflict with the u.k. andthen brexit happened that gave the european union, if you want, the perfect excuse to have another go at this issue. and from what we understand, they are proposing mostly direct oversight to t

everything is on the table, especially the real possibility that ge ends up distributing the shares of baker hughes they announced it had taken a $2 billion steak in ge in 2015. been stepping up the pressure on that company, most recently the castrol numbers raising a lot of eye balls. no statement at all from trian since immelt made this surprise announcement josh, you're the one who had been a vocal supporter of ge and the shares which you recently sold >> yeah. and actually i think is probably is good news i think the pace of change at something the size of ge is not for every investor not everyone wants to sit here for the next six months. adjusted dividends adjust earnings guide. i think you're seeing people get out. you had the behrens story over the weekend. it was kind of bullish in a frenemy sort of way. the share price -- in the meanwhile, you haven't heard frr pelz he works with management he's not like, here, i filed the deal he's been incredibly successful. if you want to be involved in the assets, you couldn't have a better activist. >> look, tgw, an aircraft carrier into -- >> accomm

the new company will keep the baker hughes name and will become one of the largest players.at on bank of america could pay off to the tune of $2 billion. berkshire hathaway invested $5 billion in exchange for a bfa preferred stock. it is now worth $17 billion. that is your business slash update. scarlet: berkshire hathaway's the fourth biggest owner of u.s. bank stock. following that conversion of he hassc, they vanguard, blackrock, state street and fidelity. joe: those don't even count the assetose are managers that own every stock in the world. he actually own specific things. i think berkshire hathaway should be consider the first. gains how many unrealized in terms of financial investments he is sitting here, if you had to guess? scarlet: billions and billions. julia: any more specific? joe: i can't guess because i know the answer. julia: you know the answer. $40 billion. joe: there are two extraordinary things, 2011, we think of the financial crisis as 2008 to 2009. deal well in the his bathtub. he was in his bathtub and he said maybe i will invest in bfa -- b of a. sca

they've added rigs for the 21st straight week in a row according to baker hughes.at the bond market opening. what we want to see. slightly stronger in terms of price. that means lower in terms of yield. bunds are up. the real momentum is on the o.a .t.'s. let's get across to juliette saly. she has your first word news. juliette: in france, president macron has expanded his control as voters put his party on track to a majority in the national assembly in the first round of elections. macron's party, republic on the move, won about 31.5% of the vote. according to projections, the result would give macron's backers between 415 and 455's seats in the lower house of parliament. u.s. president donald trump has renewed his attack on former fbi director james comey, tweeting that his leaked comments about their white house talks were cowardly. he also suggested they could be illegal. attorney general jeff sessions will testify on capitol hill tomorrow about alleged russian meddling in the presidential election. he says it is important in light of coney testimony.s trump i

antitrust approval for its deal with baker hughes.ate one of the biggest oilfield services companies. ge won approval last month from regulators. video gives ge a 62.5% stake in the new company. and it could close as early as next month. shareholders of honeywell are resisting calls to spend on its aerospace unit, according to ceo david cody, who tells bloomberg investors are worried about losing potential paydays on recent investment. that is your blis business flash update. julia: we have more news on the new ge ceo john flannery that was announced this morning. they are said to have sent his salary at $2 million. he has a target bonus at 150% of his annual2017, an target bonus will be $3 million. long-term, it will be paid in stocks. that is how it has been displayed. what you need to know to give up for tomorrow's trading day and. -- ahead. this is bloomberg. ♪ scarlet: wants to look forward to. prince house of commons convenes with newly elected emcees. joe: i will be watching usa go data with prices out at 8:30 a.m. eastern. jul

theas won approval from justice department to combine oil and gas business with baker hughes.comes two weeks after similar decisions by european regulators and hours after ge deal's architect will step down as ceo. the ceo of christian dior has told bloomberg he is optimistic about the new french president. was speaking exclusively to rachel chang in shanghai. french market is important. and this new president will be a positive for the economy. in france. reforms and working rules and things like that. juliette: that is your bloomberg business flash. guy and met? matt: thank you. today's day one of the fed's june meeting and the market is expecting a height. for as high 90's decision, signaling the market thinks it will happen. but what will we learn about the rate path? cudmore, we go to mark from our mliv team in singapore. a seems an increase is foregone conclusion but there are big questions left. not just about the path, but how the balance sheet will be unwound. mark: absolutely. this is a potential for a dovish hike. a real shock if they don't raise rates tomorrow. it

baker hughes rig count, we are looking at oil, it's getting hammered. it's going to be brutal to watch that cap. david: president trump has decided to withdraw from the paris accords. the reaction worldwide was immediate, even from prominent ceos who turned to the president's favorite means of munication. climate changeed is real, leaving paris is not good. bob eiger followed soon after. he resigned from the president's council. thehead of goldman sachs cited to send his first tweet ever. he said it's a setback for the environment and the leadership position in the world. saidbenioff of salesforce he was deeply disappointed by the decision to withdraw. we will double our efforts to fight -- fight crime it change. let's start with you. how you react? it was anticipated that was going to happen. it's a shock to the world. we saw the letters coming from the leaders in france and germany and italy. britain's may could not react to it. it looks like a major mistake. hasn't somebody explained to the president that he is unable to ,mpact a world price of coal

would listen to the voters and reflect after the general election but what she has done today is baker hughesfingers in her ears and carry on regardless. a lot of people across scotland desperately wa nt people across scotland desperately want their first minister to get back to the dayjob of governing in scotland — — back to the dayjob of governing in scotland —— what she has done today is big her heels in. but she said she wants to carry on with government, but she is saying that once we, everybody, knows more about what brexit holds, that then will be the right time, so she is seeing an lot hinges on what sort of deal david davis and others can strike here? all she has done is to say that the bill for the independence referendum would be delayed until next autumn. the bill itself is dead but the campaign for independence is very much alive. nicola sturgeon has said she wants to broaden the church of people who want to speak the case for yes, for independence, and that will upset many people across scotland who sent her a very clear message across the general election to get back to her day

their deal for baker hughes has won anti-trust approval. yes, it will go through.esterday it was announced that jeff immelt is stepping down after 16 years as ceo. the stock went up yesterday. it's up a little bit more this morning, but still, shy of $30 a share. joining us, elizabeth mcdonald, mike murphy and steve cortez. i'm going to start with the big techs. we usually do. they've taken a hit and bo uns -- bounced a little this morning. is there any one that you would buy right now. >> apple. >> at 147 a share? >> 147, had almost a 10% pullback from recent highs. you want to talk about tech bubbles. apple is trading 13 times next year's earnings, very far from a bubble. the argument here, i think apple at 147 on the way up, i didn't tell you to buy it, stuart. but on this pullback, i think it's a great entry point if you've missed the run-up recently, i think you can get in here. stuart: steve cortez, is there any big name techs you would buy right now? >> i would not right now. i like them long-term, but i think there still could be more profit taking there. i

can't help our self drill, baby, drill >> if it's friday it is time for the oil rig number from baker hughes we did get six more oil rigs put online for 747 up 410 from a year ago and this is 22 weeks of straight increases here production is rising, probably one of the biggest thorns in e opec's side right now. that's why oil is under $45 a barrel for the week down 2.5% michelle, i'll send it over to you in miami >> hey there, thanks very much minutes away from hearing president trump here in little havana outline his new policy towards cuba in the last five minutes the treasury released details confirming what we already know. they will make it more difficult for u.s. travelers to go to cuba with security agencies, et cetera, however, we got an important piece of clarity that is any company already doing business even if it's with the cuban military they will be grand fathered in and allowed to continue doing business. we won't see impact with the airlines, even with marriott which is operating a hotel owned by the cuban military. when it comes to travel it is still illegal to do u.s. touri

baker hughes reported that for the week ended today, june 30th, recounts went down two however, this is significant because it's the first time we've seen a cut in 23 weeks that's since early january when that opec cut went into account. that's when the shale producers started adding rigs, and they just didn't seem to stop now this is interesting news because it also combines with what we saw in the eia report this wednesday that u.s. production went down 100,000 barrels. what happens here is you have the opec players that come out and announce a cut and we try to see if they stick to it and what not. but the u.s. producers, they self-regulate. they'll not tell us they'll do it they just report that they're doing it and then they manage these price fluctuations accordingly so you can see that prices maybe got low enough to create a little bit of a squeeze here, and this is when they start to act. what's interesting is if this becomes a weekly trend we see these rigs go down on a longer term basis. >> we can see when the price of oil might affect the rig count here it is >> right now

i saw the baker hughes number. >> 20 straight weeks. >> we're at 40, 46. >> we didn't hit 45.t 46 and three quarters i want to say. we're a dollar better than that right now. the interesting part of that oil trade. he said, below 49 things could get ugly. we're below 49. we'll see if that down trend continues. >> meanwhile, the fear indicator, the low for the year, the second time we've been here, we were below that a little while ago. >> speaking of the down trends as well. one of the things i thought was going to be a bit more of a story today, that dn turn out that way, the yield spread, keeps coming down lower since last fall, you would think that would hurt bank profitability. hasn't materialized as much. we'll see if the banks bounce back a little more. >> we have records again for the dow, the s&p 500 and nasdaq. we still continue to ring our hands. what do you know? >> charles smith ringing the closing bell here at the stock exchange. stay tuned for the second hour of the closing bell. >>> thank you, bill and welcome to the closing bell, i'm kelly evans. the dow added

this was a record 20 weeks in a row that we've been adding according to baker hughes and actually this week, we saw 11 new oil rigs come online. the total is 733, and that's up 408 from a year ago. back over to you. >> all right jackie, thank you very much. we're going to check on oil later on. big business versus the base. the president shunning the former in favor of the latter. did his decision to leave the paris climate accord. you might have heard something about this. the backlash from business sure to come up during today's press briefing. we're going to bring it to you live at about 1:30. >>> first the unemployment rate falling to a new 16 year low but hiring also slowing. the time for new thinking to create more new jobs? we have an idea, we'll debate it straight ahead. usaa gives me the peace of mind and the security just like the marines did. the process through usaa is so effortless, that you feel like you're a part of the family. i love that i can pass the membership to my children. we're the williams family, and we're usaa members for life. there's nothing traditional abo

for little change to the estimate of 94.5. 1:00 am oil investors will be watching as we get the baker hughesg count. what a difference two months makes. we have equity futures pointing to a slightly higher open but yesterday was a violent selloff, particularly when it comes to the nasdaq, pulling it down by 1.4%. as the nasdaq faltered, you also had volume climbing. you can see the bloomberg here, volume picking up here in yellow. volatility and rotation picks up at the end of the second quarter. joining us from london is richard turnill of black rock. great to get your perspective. did you buy the dip in tech, was it just a technical rotation richard: first of all, great to be here, thanks for inviting me. we see many investors who missed the rally last year, global equities over 16% over that period of time. many are asking whether it is too late to buy. our message is it is not. when we look at stocks that have led the market higher, they include technology and financials, but it's been a broad-based rally, many stocks inning new highs in the last few months. when we look at this sustaine

which continues to see quite a bit of downside momentum off the back of the latest data from the baker hughesians in u.s. oil production raises the bar for opec. all that at the top of the hour. angie: thanks. we are going to be able to track this story a little bit more with the latest development, now hearing that one person has been confirmed killed after the van was driven into a crowded pedestrian near a mosque in north london. se are live pictes from the area, where police are standing by, cordoning off the area. counterterrorism command is also on location and is investigating. david: close to 5:00 a.m. in london. worshipers were leaving the mosque after their prayers. more details on that, next this is bloomberg. ♪ >> the following program is a paid advertisement. >> they are out there driving , recklessly, causing accidents and driving up your insurance rates. this is a show about car accidents. classic cars, and the hd mirror cam, personal security camera for your car. this is

look at baker hughes. that deal, the company expecting some kind of a big boom in oil prices.ain but we're still not back through $100 a barrel. so real concern, real issues with this. i have to say, this has been a disappointment for wall street, what immelt has been able to do with this company over the last 16 years. stuart: then again i would not be wishing to take over a company which previously been run bit great jack welch. it would be different cut, wouldn't isn't. >> that would be difficult this is a 300 million-dollar market cap, it's a massive and huge company but where do you drive it in the technology area? what do you do for a living? what makes money? what makes sense? still struggling some ways to defined that. stuart: stuart: well-said, gerri, thank you. >>> now this, our next guest he is helping conservative families move to conservative areas of the country especially texas. paul chabot, founder of conservativemove.com. paul, i disapprove. how will you win, how will republicans ever win in place like california or new york state with all the conservatives mo

. >> sherwood baker running for governor, we're hearing from the next candidate. democrat c anthony hughesnnounced he's going to running to succeed baker. he spoke at the regional hospital saying he wants to world class research facility to prince georges. he said his message to county residents, we can do better. >> can you imagine if of all the places in the world, we were able to of going to philadelphia and the mayo clinic, right here in maryland where the numbers are higher. this is where we need to do it. this is where we need to focus. >> he's a familiar face, anthony muse has been a state senator of maryland since 2007 and in the interest of full disclose sure. he's the husband of news 4 anchor. >> virginia state police is still working to notify next of kin after a woman was killed on the beltway this morning. her car stopped on the inner loop and was hit from behind. when she got out she was hit by another vehicle. it's the second time in recent days that someone has been killed when they stepped out of their vehicle on northern virginia interstate. the other happened at the mixi