i am betty liu. we have sent in reinforcements! t: i'm joining you because your voice is struggling but your brain is still working. i will do the reading and you will do the intelligence -- betty: i will just sit here. matt: after the/rally in u.s. treasuries blind-sided wall street, jpmorgan has a theory in what we really went wrong. that then ideas futures markets eased up that morning and that led to the cash market. jpmorgan says the problem is the opposite. alexander skaggs is you with the details. did i some data correctly some that up correctly -- did i some that up correctly: a things do tend to move little bit faster in futures, but jpmorgan came out with this note and said that it was the cash market, the market for treasury securities that was the source. matt: so why did we have that move, then? i don't know if we have a chart, but it was a short, sharp shock -- of whate have a chart it looked like on february 11 that reminded people of the rally in october. alexandra: the underpinnings of what caused, or maybe didn't c

i am betty liu. half an hour into the trading session and stocks are lower. dow is off almost 250 points following the losses in europe. oil is renewing its plunge. electionrtainty for 2017. ted cruz topped donald trump in iowa. and hillary clinton hang onto a narrow win over bernie sanders. now it is off to new hampshire. and google's alphabet prompting selloff as it is now the world's most profitable company. and yahoo! is reporting after the bell. marissa mayer is laying out her plan again to revise. let's head straight to the markets desk with julie hyman for the latest on this selloff. it has to dond with oil. if you look at the major averages we are seeing a deep decline of nearly 250 points for the dow and that is despite the fact that one very big company in the s&p is actually on the rise. market cap does indeed surpass apple. up 4% today. just around 543 billion dollars is where it is right now. that is not helping overall because as you take a look at the number of terminal, energy is such

i am betty liu. here is what we are watching this hour. stocks have been fluctuating. the bank of england cutting its inflation forecast once again to what it means for the future, and for fed rate hikes in 2016. controversial pharmaceutical ceo in front ofli congress moments ago. that is a live shot of the congressional committee. on thatred questions price hike. era.he end of an calls it quick that cbs has questions about his mental health continue. will he give up chairmanship at viacom? straight to the markets desk, where julie hyman is looking at the final read of durable goods orders in a market that seems relatively calm today. julie: relatively calm, that is the key word. ,e are seeing a drop of 5% bigger than the initial reading of 4.5%. that is a little bit larger than the original read. excluding transportation falling by 1%. when these numbers initially shock,t, that created a ,ne of the first pieces of data more of a bumpy one on the economic front. it seems calm her on a relative basis.

betty: from bloomberg world headquarters in new york, i am betty liu. we are half it hour into the trading session. stocks are trying to make it back into the green as global equities near a bear market with volatility near a seven-year high. ranking stocks are getting hit. one of the banks getting .queezed is deutsche bank co-ceo john cry on is trying to reinsurer investors it can pay back its riskiest debt, saying the lender is rock solid. to investors believe it? president obama releasing his last budget proposal of his presidency. 6 budget books were hauled into congress. they say they won't consider the $4 trillion plan. straight to the market desk where julie hyman has the latest as we are coming back from some of the early losses. there has been a lot of volatility. a lot of bouncing around. it looks better than yesterday with the nasdaq positive and bouncing back after having led declines. the s&p turning into the green. the dow remaining lower as investors are concerned about global growth, and watching what is going on around the world. look a

i am betty liu. here is what we are watching at this hour. we are half hour into the trading session. stocks are pre-much mixed right now. we are kind of paring back some of our gains. willa volatility continue this year? we will get insight from hank greenberg. and also phil miller joins in on whether the stock market is a buy. the vti crude is still near $30 a barrel. we will tell you why some analysts are forecasting a 50% rise by the end of the year. we get inventories out in about half an hour. yahoo! ceo marissa mayer unveiling another turnaround plan, this one involving job cuts and the possible sale of the company -- of the company. a closer look. let's head straight to the markets desk where julie hyman has breaking economic numbers for us on the services side of this economy. the non-isn manufacturing index for january. julie: the nonmanufacturing index coming out at 53.5, worse than the 55.1 economists had been estimated. we saw a revision higher in december to 55.8. this number is an important one. the largest part of the u.s. eco

i am betty liu. blows are setting another in afternoon trade, the dow tumbling more than 300 points at one point. energy prices continue to crumble with wti settling below $30 a barrel, oils worst two-day drop in five years. reports showing that voters are lighting expectations. yesterday morgan stanley cut its price target to 333 from 450. is that still too optimistic on tesla? ipotle reporting after the bell. investors appear to be welcoming news as the company and the stock of finally on the mend. and we are one hour away from the close of trade. as i mentioned, we sold off as much as 300 points on the dow, recovering just a bit. i want to head to the markets desk, where julie hyman has the breaking news on the markets. julie: just a bit. i mean, really, just a bit. the nasdaq and the s&p are often very sharply as well. i've been watching various groups that are on the move today. utilities turned higher as we continue to see rates move lower. that is the relationship we can do to see, but energy

i'm betty liu.neserve ratio for banks in effort to cushion economic slowdown amid a weakening currency and plunging stock market. is an expert on the chinese economy and he spoke with francine lacqua early this morning about chinese stocks, their valuation, and also more stimulus. >> you got a situation where in the emerging markets and particularly in southeast asia there has been a slowdown, so they want to stimulate their economy. these markets are in that part of the world. i believe that they will continue their stimulus program. when theybelieve them tell you that they will not devalue the yuan? >> they are looking at a basket of currencies rather than the u.s. dollar. i think that they were referring u.s. dollar, the not against the basket of their major trading partners. so, what you see is a pretty steady movement against the u.s. dollar downwards. but against a basket of currencies from major trading partners, it won't be very big. francine: do you believe that china has improved its commu

i am betty liu.come to "titans at the table." dish network founder charlie ergen has always been something of a fearless renegade. from being thrown out of casinos for counting cards to selling satellites out of his car trunk around colorado. ergen led a group that started echostar in the 1980's and then started dish in the next decade, upending the traditional cable tv world. in the process, he has become one of the richest men in america, worth nearly $20 billion. ergen stepped out of the spotlight in 2011, handing the ceo reins to joe clayton. but just four years later, the founder is back in the hot seat as television undergoes another revolution. video, moving on to your second screen. like the satellite tv business in its early days, ergen wants to be at the forefront of this change by creating a new, over the top product called sling tv and buying up billions of dollars worth of wireless assets. assets that he says can be used to build a legitimate competitor to at&t and verizon. when we first

here in new york, good morning, i'm betty liu. what we're watching at this hour, we are about half an hour into the trading session. what a difference 24 hours makes. oil is heading higher. new data this morning showing retail sales increasing for a third month in january. maybe those lower gas prices? nba techake you to the summit where we will hear from dan gilbert, and the majority owner of the cleveland cavaliers. also, kenneth feinberg telling you about his role overseeing claims from the volkswagen emissions scandal. plus, what he thinks about current practices on wall street. let's head straight to the markets desk were julie hyman has the latest on some breaking news on consumer sentiment. it is the pulmonary reading on february and found consumer sentiment found -- fell to a four-month low. we've seen the effect of lower stock prices around the globe having an effect on sentiment. the preliminary index falling to 90.7 in february from 92 in january. what was estimated by economists. the other number in his report is house

i'm betty liu. markets are bouncing around today. some gains in late trade. global equities are on the doorstep of a bear market. the recent run is over. with lowth we are on growth is ending. investors have to realize this path, which has served us relatively well, is ending. ofty: amid this backdrop sluggish growth, janet yellen is facing congress. what will she say as she faces lawmakers for the first time since hiking interest rates? foris the momentum over netflix, amazon, we will ask analyst keith if the so-called stocks can get back to their winning ways. we are about one hour away from the close of trade on this tuesday. it has been an up-and-down day. we have been above the green on the s&p for the third time. julie hyman is at the markets. julie: a lot of bouncing around. we are indeed on the green. as we have seen all of this volatility. if you look at the course of the at theat we have seen s&p 500, if you look at the intraday chart, you will see all of the up-and-down, above and below the unchanged line several times throughout the course of the

i am betty liu. let's check in with vonnie quinn. vonnie: michigan officials proposing a five-part strategy to determine whether flint's water is safe to drink. in 2014, flint switched the flint river from detroit's water system to save money. lead from pipes leaked into homes. more than 2000 pages of information about the deadly amtrak crash next -- last may were released but it would not explain why the train was going more than double the speed limit when it crashed. the engineer says he does not recall what happened. the justice department will investigate the san francisco police after the shooting death of a young lack man. they will announce details of the probe today. the shooting led to protests and san francisco and protesters want the police chief to be fired. a judge sentenced a british woman for six years in prison for going to live in syria under the role of the islamic state. she and her one-year-old boarded a plane to turkey and moved to syria. she was arrested at heathrow airport and her son was taken into social car

betty: and i'm betty liu.asked money management guru bill miller for his opinion and he told me last night, it reminds me of 2011. this market when people were worried the euro would blow apart. everyone was concerned about greece leaving the eurozone. fast forward today, is this market more like 2011 or is it like 2008? shaoul us now is michael --he chairman and ceo of it reminds me of 2007. are entering ae down credit cycle. betty: was telling you that -- what is telling you that? >> credit markets themselves. it's no longer an energy storage. it used to be a high-yield story. now the low end of investment grade is behaving as badly as high-yield was six months ago. the calls from asset managers telling you not to worry is precisely why you should start to get concerned. betty: bill said another thing i don't was interesting. for the market. he says, all of that on the ground information is telling you there's nothing wrong with the u.s. economy. what's telling you -- what is telling you is there is somethin

i'm betty liu. spotlight on janet yellen. the federal reserve chair telling congress it is too soon to tell if the market volatility will derail further. >> monetary policy is not on a preset course. evaluation of the likely impact of those developments on the economic and our ability to meet our employment and inflation objectives, those are the factors that will govern the future stance of monetary policy. betty: stocks are having a mixed reaction to her comment. after spiking initially, stocks dropped. the dow is flirting with going lower. crude oil dropping below $28 a barrel. the fed keeping an eye globally on china. what impact is china having on their tech industry? we will speak with the former head of google china, kai-fu who helped create silicon valley in china. we are about an hour away from the close of trade on janet yellen day. has the latest. it was hard to read exactly how to interpret her comments. julie: she tried to tell that line and michael mckee kept saying the hippocratic oh, do no harm. it seems she s

i'm betty liu. markets are moving right now with all three major averages flirting with positive territory after opening down this morning. the dow leading the way thanks to energy and materials. bearing the brunt of a negative stint in the market, the financial firm in the s&p down 12% so far this year. hank greenberg says the markets don't make any sense to him right now and it feels like they are rolling the dice. the former chairman and ceo of aig. are about an hour away from the close of trade and it has been a wild day so far. the bulls have the markets. >> this is where we stand with about an hour to go left in trading. the dow is up by 1.1% but it had been down by as much as 195 points. take a look at the dow intraday right now. you can see the volatility that has been happening over the course of today. we fell down 195 points. only toed the flat line rise right now. oil has been rising in tandem. more than 500 million barrels. you would think that oil would be falling. this is really puzzl

i am vonnie quinn in for betty liu. on are watching a hearing thoughts on apple, and their moving to other issues including worldwide threats. the cia director is also present. let's get more from "bloomberg " anchor david westin who joins me and is an expert on illegal opinion of the matter. us concentrate on apple because that is where the public is focusing its interests. this is about overreach and apple is the key player. david: that is right. james comey is a very experienced lawyer. i know him well. the members of the committee were asking two questions that i think are terribly important. one is if you're going to make apple affirmatively go out and write code, where does that stop? could you ask apple to write other codes or other companies to write codes? how far can you go with that, and secondly, if you get this done with apple, why couldn't other governments do this, some that do not have our interests at heart. vonnie: this will go to the courts at some point. how do we divide up the question? david: t

betty: i am betty liu.ogether the most influential names in sports, and technology about the future of nbaindustry at the annual technology seminar. live at the event with the director of the boston celtics, steve pagliuca. wear many hats and being an nba team owner is just one. one would say the biggest opportunity for tech would be around betting. what is your take on the fanduel drafting model at this point? >> i think that is an embryonic industry, and those companies are really responding to fans' needs. they have been playing fantasy games before the technology, so there is a lot of complex questions. if you have appropriate regulation and he gets the fans engaged, and i believe it is personally more a game of skill. people who are been playing fantasy for 20, 25 years, those companies are just automating what they did. >> within tec is lots of embryonic sub industries but we have seen a lot of highflying valuations in the past couple of years. do you think we will start to see that term? a that is we

i'm betty liu. markets trading right now.t has been decidedly a volatile day, but one without a lot of direction. you can see the s&p has pre-much different in and out of positive territory. it is the same thing you could say for the dow, up triple digits early in the morning. finally, the nasdaq has been solidly in the red for a while. is stillee it essentially trying to balance off the low of the session but still off to the red. time for a look at some of the biggest business stories in the news right now. sports authority preparing to file for bankruptcy. faces a debt payment due in 10 days. capital management deal to reorganize. mapping out a plan to close as many as 200 of its 450 stores. southwest airlines says it will with -- thect pilots rejected the last contract in november. airline traffic rose last year for the most in 2010. the plunge and fuel prices lead to a cheaper fare which led to a percent increase. demand grew fastest in the asia-pacific region. businessour bloomberg flash update. earlier today, martin sh

betty: i am betty liu.ut of china, the government's official measure of activity dropped to a six-month low. the shanghai composite slumped along with it, but the impact was not just felt in china. mark: oil recent rally coming to a halt. opec pumping a record amount of crude last month. stephen isaacs as chairman of helpingst in committee, manage 10 billion euros. dominated january. when are wee aside, going to shake off our china oil fixation? who is more likely to rebound, china or oil? stephen: they go together but most concerning late is the politics. if you cast your line back to the bookseller arrested in hong kong and do more delving, you hear the issue of arbitrary arrest even in hong kong is .retty much widespread i think the concern is how are the political elite, how is the new president -- he has only been in for two years, how will he handle this new situation? you had a 30 year bull market in china interrupted and now you have some very serious problems. my concern is the policies not be able

we have mohamed el-erian, the former pimco chief executive joining us thanks to our very own betty liu who is going off somewhere. it's a secret, but i will tell you during the commercial break. ♪ mark: welcome back to bloomberg markets live from london and new york. this is the european close and london. it's: here in new york, time for the bloomberg business flash, a look at some of the biggest business stories and the news right now. first-time claims for unemployment benefits at more than expected last week. the four-week average has exceeded 280,000 for the third week in a row, indicating hiring has risen a bit of historically low levels. the january jobs report comes out tomorrow. there is a new threat to corporate profits -- worker productivity dropped by the most in almost two years. that leads to an increase in labor costs. productivity has languished as the end of the last recession. part of that is companies being reluctant to invest in new technology. airline traffic up last year by the most since 2010. let toce in oil prices cheaper airfares and led to a ..5% increase dema

i am in for betty liu. the european close. ♪ >> we are going to take you from london to new york to barcelona in the next hour. a quarterly loss of 858 million u.s. dollars. working toget by oil andh a hit gas companies. a split over leaving the euro. half an hour from the close of trade in europe, tell us about today's market action. mark: rally on.

i'm brendan greeley in for betty liu. what is going on? we are seeing the company movers.cularly, chesapeake energy. tumble, itg such a is triggering volatility halts. the biggest drop on record, the lowest since 2000. this is after reports they hired kirkland and ellen. chesapeake is not just down today, it has had a rough year, one of the worst performers in the s&p 500. it has been slashing jobs, cutting investor payouts to try to conserve the cash flows. 91%can see the shares collapse over the past year in the company's value. dgif, thee a look debt loan $9.8 billion. 1.3 billion of that comes due before the end of next year. that is if you look at this part of the chart. that is the concern of the market, will it be able to repay that? looking at energy transfer, this has been an ongoing story. have thatwe do not up. energy transfer agreed to by williams company. both stocks have underperformed this year on concern the deal will not get done amid the collapse in oil prices. announced ther replacement of the chief financial officer, apparently talking with the cfo jere

short covering for betty liu in her vacation week this very day. let's talk about the elementals and economic growth. we have a rally for the last three days with people coming to their senses. the lmp capital and annual growth report and it does not look good. brazil,and the u.s., growth will be slowing over previous estimates in the coming year. is there a reason to be confident? >> i think there is. there are pockets of clothes -- of growth. brazil is its own animal. they are in a large recession. we will put them to the side. if we look at the u.s. marketplace, the estimate is 2.5% economic growth for this year. i do not think we are on the verge of the recession for the year. i think growth is slowing. we have got struggles with the strong dollar impacting earnings . it was just mentioned about walmart and looking at the locations of earnings and the strong dollar. growth thateas of if we look at emerging markets, even the developed economies by china dragged down slowing. look at japan. even the economic growth and exports are slowing down be

i am vonnie quinn in for betty liu. opening lower a day after hitting a six-week high following crude lower once again today. president obama set to make good on old campaign promise from 2008? we will hear from the president on his proposal for the future of prison at one -- one, and obey. does the microsoft cofounder stand with the rest of silicon valley? that is ahead. let's head to the markets desk were julie hyman has the latest on the markets. julie: breaking news on a couple of economic fronts. of homes unexpectedly rose in january to the second highest early 2007. closings of 0.4% to an annual pace of 5.4 7 million. prices are climbing, as we heard about in december this morning from the shiller report as well. consumer confidence coming in ofow estimates at a reading 92.2, 90 7.2 is what had been anticipated by economist. that is a fresh number for february here. it is still at a three-month high even though it came in looking at a conference board. i'm getting confused between the various cymer confidence indu

i'm betty liu with mark barton.ope, deutsche bank is grabbing the headlines today after co-ceo tried to reenter investors saying the company is "rocksolid." that is not the only bank that has been making waves. >> the sector at i whole has gone to its lowest level since 2012. italian blunders leading today's a climb. there is the stock 600 banks index or 4% lower today. she joins us now from milan. thank you for joining us. why is there so much fear surrounding the european banking industry right now? the outlook isn't improving. the outlook is worsening as the global economic slowdown appears and whatting closer that leads to is a very tough environment for the bread-and-butter of margins on lending. quantitative easing has basically squeeze those margins and banks are all going after the same types of businesses. they are all going after management businesses. markets fall, investors move on to cash. that means there is less money to be made in management. it is basically a self the filling prophecy to some extent

i'm betty liu.moving right now with all three major averages flirting with positive territory after opening down this morning. the dow leading the way thanks to energy and materials. bearing the brunt of a negative stint in the market, the financial firm in the s&p down 12% so far this year. hank greenberg says the markets don't make any sense to him right now and it feels like they are rolling the dice. the former chairman and ceo of aig. are about an hour away from the close of trade and it has been a wild day so far. the bulls have the markets.

he joined betty liu this morning from washington. these $9.2 million of production.are expected to drop this year by 600 million barrels a day. but with the iranian nuclear deal, they could make that up in a heartbeat. with the matter of months, they could actually be trading about -- 3 million barrels a day. they are looking for the rest of , to stop in opec production. i'm am worried about the impact of the economy in general. theconsumers it is good, average gas price right now is $1.79 a gallon. but it is having a ripple impact the restl economy, and of the economy, which has me concerned. betty: what about in the commodities futures market, where we have incredible volatility? do you think that it is destroyed market structure? certainly, when he sees volatile markets like this, you rely on the actual exchanges, in this case, nymex with the west texas intermediate contract, and that oversees europe with their brent contract brady rely only to keep it in check. you have price callers to avoid these crazy highs and lows. but as we have seen today can we thought it

i'm vonnie quinn info betty liu. industrials and materials make big gains across the board. each baiters getting a breather from volatility -- traders getting a breather from volatility. and the chairman and ceo of global advertising giant -- is here. maurice levy is here to discuss the acquisition strategy and the potential for a british exit from the european union. close one hour from the of trading and stocks of been rallying. let's head to the markets were julie hyman has the latest on the blue-chip index. julie? as thewe saw last week best week of the year for the major averages. there is lower volume than we have seen over the past 20 days. we have seen some of the worst performers of the year rebound and that really continues in today's session, all three major averages holdings deadly -- holding steady in a relatively tight range. if you look at the dow, for one example, throughout the day, we saw the gain and then holding justy, getting a bump up before 2 p.m. we will get two more of that in a moment. in addition, i'm looking at the seasonal chart on the bloomberg

i am betty liu.etting another in afternoon trade, the dow tumbling more than 300 points at one point. energy prices continue to crumble with wti settling below $30 a barrel, oils worst two-day drop in five years. reports showing that voters are lighting expectations. yesterday morgan stanley cut its price target to 333 from 450. is that still too optimistic on tesla? ipotle reporting after the bell. investors appear to be welcoming news as the company and the stock of finally on the mend.

he's book with betty liu about the markets and more. -- he spoke with betty liu. been ae of oil big overhang on the markets. the political situation around the world is an overhang on the markets. we have new events that have taken place. fairness, it appears to me that the u.s. is about the same. we sparked the problems. that has beenum filled by other countries. that makes the world even more dangerous. that is a concern. the markets reflect all of that. it is a trading market pretty you buy stock in the morning and sell it in the afternoon. to the markets make sense to you anymore? >> no. >> ok. >> you are rolling dice right now. i don't roll dice. >> you build businesses. >> we make long-term investments. we are investing in china. >> you mentioned last time argentina, to bang. -- last time argentina, too. >> i'm very impressed with the new leadership. to 30 days, we've done more unravel what they've done in the last 12 years. there were farmers who produced products to be exported. they have no foreign currencies coming into the country. things like that. all

scarlet: betty liu sat down with ken feinberg.e is growing pressure that if we do not know the gap between the well-off and the less well-off, there will be attacks on pay, some sort of regulation, or on the fdic, sheila bair did a wonderful job. i think we will see more and more of that. that is the pressure. betty: should the bonus structure be taken away, for instance? ken: i think if the bonus structure remains, it should be based on shareholder value, not personal, individual bonuses. when i was at treasury, as you we thought if you were going to pay a high-end corporate individual that should the tied to the overall financial performance of the company she or he is administering and not personal benchmarks or objectives. and it ought to be paid out over 2, 3, 4, even five years -- long-term. not short-term. and i think if you are going to have bonuses that is the way it ought to work. --ty: do you think though and i have always been curious to the euro opinion -- but do you think the pay structures of wall street firms and a

i am matt miller, in for betty liu. stocks are down today but are on pace to close down february, actually just slightly in the green. the nasdaq lacks behind. financials are the worst performing sector in the s&p 500 this year. with uncertainty surrounding rate hikes and low inflation, is the row poised to get any worse or could it possibly get any better? can gold continue to keep soaring this year? it is the year's best-performing asset. it just had its best month in two years, and we have got -- both of which have done better than the underlying metal. we are an hour from the close of trading today and the month of february. let's head to the markets desk were julie hyman have the latest as stocks turn around and come down. julie: they have indeed turned and fairly substantially lower. all major averages are losing about as much as they were getting out of the gate this morning. they continue to fall on lower than average volume. turner, we saw stocks higher as oil turned more substantially higher. it does not seem

i am betty liu. you are watching at this hour stocks getting slammed.el -- news that opec may move toward a cut in production. -- appears inell her second testimony on capitol hill are traders are not buying it. she left a slight door open for rate cuts. yellen: the single most reliable and predictable tool for affecting the stance of monetary policy is variations in short-term ies

i am betty liu. a quick check on the markets.pretty much at our highs of the session, the market turning positive in the last 30 minutes or so. part of the reason is the comments from fed reserve vice-chairman stanley fischer. one of the things he said and kept stressing to tom keene was how difficult it is to gauge the economy based on recent turmoil in the markets. uncertainty we are dealing with now started at the turn of the year, the enhanced, higher level of uncertainty. since we raised the interest rates in the middle of december, increasead a very high in employment in the data reported at the beginning of january. so, when you look at the real side of the american economy -- and im putting manufacturing somewhat on the side -- you have has beenarket that strong for a long time and continues to be strong. we have different things going but there are some probabilities of increases in economic activity in europe and rates which once were thought to be solely chinese. are other things going on, so we have to wait and see to

i am betty liu with mark barton in london. let's get a check on her first word at news this hour.the first presidential primary will be held in new hampshire. bernie sanders was campaigning there earlier today. iowaal hours before the democrats said sanders lost to .illary clinton and hav marco rubio had a surprisingly strong finish in third, one point away from trump. will tryaker paul ryan to override the president's veto of the bill that will defund obamacare. he plans to bring up issues linked to terrorism. president may bring up the fight against cancer and -- north korea has declared plans to launch a satellite this month. they are seen as an attempt for onth korea to avoid a ban long-range missile tests. raul castro meeting with several top officials in day two of his visit to france. he is seeking to boost business ties between the two countries. on monday, francois hollande called on the u.s. to lift its economic embargo. global news 24 hours a day powered by our 2400 journalists in more than one fee news bureaus around the world. that's 150 news bureaus around the world.

i am betty liu. stocks are struggling for direction today.nd between gains and losses. dayrsing and it ends the with another decline. it is jobs day tomorrow. what does them nervous market -- were up in just the past week we learned that today. --o, a ceo smirking his way >> on the advice of counsel, i invoke my sixth amendment privilege against self-incrimination and respectfully decline to answer your question. betty: we are one hour away from the close of traits. stocks have been bouncing around

i am -- i'm in for betty liu all week. russia and saudi arabia freeze oil output in january levels. the market is struggling off of the first significant -- we will look into why. also, it used to be they can't miss recession predictor. be skeptical of the signals you get from the yield curve. high drama out of the high court. how the death of antonin scalia will have a huge impact. housing data. julie hyman has the latest. it is a reading of 58, below 60 estimated by analysts. that is a nine-month low for that reading among u.s. homebuilders. we are seeing potential buyers staying away here. we see progress in the real estate market. this is a stutter with in that. this is typically not a big market moving number. we are seeing the rally in u.s. stocks that does remain intact at this present time. particularly buying in asia and initial buying and oil, though that has faded to some degree. take a look at the imap on bloomberg here. a rebound in information technology. thingsbeen one of the that has held back stocks this year. financials are coming back as well. if you look at the a

i'm vonnie quinn info betty liu. industrials and materials make big gains across the board.a breather from volatility -- traders getting a breather from volatility. and the chairman and ceo of global advertising giant -- is here. maurice levy is here to discuss the acquisition strategy and the potential for a british exit from the european union. close one hour from the of trading and stocks of been rallying. let's head to the markets were julie hyman has e

i'm betty liu. spotlight on janet yellen. reserve chair telling congress it is too soon to tell if the market volatility will derail further. >> monetary policy is not on a preset course. evaluation of the likely impact of those developments on the economic and our ability to meet our employment and inflation objectives, those are the factors that will govern the future stance of monetary policy. betty: stocks are having a mixed reaction to her comment. after spiking initially, stocks dropped. the dow is flirting with going lower.

i am matt miller, in for betty liu.wn today but are on pace to close down february, actually just slightly in the green. the nasdaq lacks behind. financials are the worst performing sector in the s&p 500 this year. with uncertainty surrounding rate hikes and low inflation, is the row poised to get any worse or could it possibly get any better? can gold continue to keep soaring this year? it is the year's best-performing asset. it just had its best month in two years, and we have got

i am betty liu. you are watching at this hour stocks getting slammed. it lowest level -- news that opec may move toward a cut in production. -- appears inell her second testimony on capitol hill are traders are not buying it. she left a slight door open for rate cuts. yellen: the single most reliable and predictable tool for affecting the stance of monetary policy is variations in short-term interest rates. betty: are there serious profitability concerns or is this just anxiety pushing it forward? breaking news, about an hour away on the -- the close of trade, a big day, big declines. we are off of the lows of the session. we are watching oil prices very carefully after the news out from opec. julie hyman from the market desk has the latest. we are seeing stocks come off the lows and it has to do with oil prices. the nasdaq in particular only down a half percent now. earlier comment was down more than 300 points, and take a look at here. i have looked at the s&p versus oil prices today. oils are in yellow and s&p is an white purity see a lot of as theyt

the ceo explained the deal to betty liu earlier today. >> in general, when you look at content, it'ser to stand out in the pack. it has become much were difficult. but imax is one content that really stands out. it means something. when people think of imax, they think of an immersive experience. we have our documentary film teams making a number of movies, and they are anything from space to the environment to wildlife. but it seems to us that producing content just for a narrow window of documentaries doesn't make sense. if we could take that content and give it a second life on television, it will benefit us and discovery. we have a phenomenal relationship with discovery. it will also include when it run theatrically, discovery promoting the movies. they'll help market the movie. betty: but they will be promoting the same film. >> they will, but first when we have a theatrical window. then they'll take it after we are done with the window and distribute it through the discovery network. as you know, with the bundling of the cable industry, it will prevent a lot of opportunities fo

i am brendan greeley in for betty liu.this, and we are at exactly 2% on the s&p 500 right now, on the day, the dow jones down 191, and the nasdaq is where the real carnage is, still not yet at 2%, looking a lot better than it did around 2:00 today when we decided to do a special. we are just going to do the bloomberg business flash instead, a look at some of the biggest stories in business news right now. wanting the ceo of the aol unit to explore a possible bid for yahoo!, that according to someone with knowledge of the situation who also says the largest u.s. phone carrier has not hired anchors to conduct an offer, and there have been no formal talks. yahoo! is looking to make their video streaming service an area of profit, and it is a potential asset. facebook is not letting a temporary setback in india affected. the telecom regulator ruled to restrict programs that provide free access to data. facebook has been pushing for a limited internet plan to get more indians online. on the of google is verge of becoming one of

i'm betty liu, filling in for charlie rose, who is on assignment.mocratic debate. the one-on-one showdown between bernie sanders and hillary clinton at the university of new hampshire. [applause] rachel: secretary clinton, senator sanders is campaigning against you now. at this point in the campaign, by arguing you are not progressive enough to be the democratic nominee. he has said that if you voted for the iraq war, if you were in favor he

i'm betty liu, filling in for charlie rose, who is on assignment.e begin with a look at the latest democratic debate. the one-on-one showdown between bernie sanders and hillary clinton at the university of new hampshire. [applause] rachel: secretary clinton, senator sanders is campaigning against you now. at this point in the campaign, by arguing you are not progressive enough to be the democratic nominee. he has said that if you voted for the iraq war, if you were in favor of the death penalty, if you wobbled on things like the tpp if youpeline or , said single-payer health care cannot happen, you are too far to the right of the democratic party to be the standardbearer. given those policy positions, why should liberal democrats support you and not senator sanders? mrs. clinton: i am a progressive who gets things done. the root of the word progressive is progress. i have heard senator sanders' comments. it really has caused me to wonder who is left in the progressive wing of the party? under his definition, president obama is not progressive becaus

from bloomberg world headquarters in new york, good morning, i'm betty liu and here is what we're watching. we are half an hour into the ring session and stocks are sharply lower joining those global selloff have seen the last 24 hours. the nasdaq is nearing a better market as investors piled into gold and government bonds as a safe haven. and the janet yellen room in front of the senate banking committee. she faces a two chins from after as, one day sometimes heated hearing you saw in the house yesterday. claritavisor, richard will give us his insights on her comments and whether this selloff will sink us into recession as we just mentioned, fed chair janet yellen will begin her testimony before the senate banking committee. there is senator richard shelby, the committeef and we have his opening remarks and we will take you live to capitol hill and she starts. meantime, let's go to the markets desk and matt miller. it's very close to a bear market on the nasdaq. not: that's true but we're seeing the kind of selloff we saw in europe in u.s. markets. a special chart for you this is possibly

i'm betty liu. markets are bouncing around today. some gains in late trade.ties are on the doorstep of a bear market. the recent run is over. with lowth we are on growth is ending. investors have to realize this path, which has served us relatively well, is ending. ofty: amid this backdrop sluggish growth, janet yellen is facing congress. what will she say as she faces lawmakers for the first time since hiking interest rates? foris the momentum over netflix, amazon, we will ask analyst keith if the

. ♪ ♪ from bloomberg world headquarters in new york, good morning, i'm betty liu and here is what we'reession and stocks are sharply lower joining those global selloff have seen the last 24 hours. the nasdaq is nearing a better market as investors piled into gold and government bonds as a safe haven. and the janet yellen room in front of the senate banking committee. she faces a two chins from after as, one day sometimes heated hearing you saw in the house yesterday. claritavisor, richard will give us his insights on her comments and whether this selloff will sink us into recession as we just mentioned, fed chair janet yeen

i'm betty liu. excuse me for my voice.n the last quarter was revised up. crude oil is higher this hour. we will be heading for a weekly game in oil. as the g-20 gathers and shanghai, china's top central banker says he has plenty of tools to stimulate growth. and what a night in houston. the candidates take off the gloves in the republican debate go afterio and cruz trump ahead of the crucial super tuesday contest. was it a little too late, though, to stop trump's momentum? we have breaking economic news. we will head to the markets desk. julie hyman has the latest on personal income and spending.

i am -- i'm in for betty liu all week. russia and saudi arabia freeze oil output in january levels.significant -- we will look into why. also, it used to be they can't miss recession predictor. be skeptical of the signals you get from the yield curve. high drama out of the high court. how the death of antonin scalia will have a huge impact. housing data. julie hyman has the latest. julie: a reading of 58,