in fact doohickey gronk are not evil musketeers the only bianco. sins an economic at the altar call or the. latter because the 2 main to push or bible to the new no consider if a 1000000 bury ali. but added the last year but their ground got. rather throw out. you don't have to. go back for the british royal. family that's. 5 prize sheep for 8 or so and no money changed hands this is how they've always traded on the grasslands. of a shuttle. that generally just seem to. have to. i just. thought i'm just a little whore or. some such a. good listener. telling. people they're not going to sit. with me and just. see stocks.

and so bianco former minister of the interior has closely followed the extraordinary story of this dossier chaired a local made the ball look at the u.s.c. it called corner let me introduce the police women ian it let raise an elephant that it. a key but they will tease out. that food soldier is rocco martino a long time sees me agent informer to french british and american secret services he is the one who circulated the seemingly explosive dossier among his so-called clients. this is it it contains official looking documents that allude to a sale by me zhao to iraq of concentrated you rhenium or yellowcake. the yellowcake dosey he finally lands on the desk of vice president cheney in february 2002. when dick cheney saw this report from the defense intelligence agency about yellowcake iraqis seeking yellowcake in darkest africa and asia where. he asked the cia briefer. you think about this this year briefer said well i'll check it out and to verify it the cia summons joe wilson on february the 19th 2002 wilson is familiar with the 4th largest uranium producer in the world he was posted th

paul: thank you very much, bianco research president and founder jim bianco.live and see past interviews on our function. you can dive into any securities or bloomberg functions we talk about. you can become part of the conversation by sending us messages during the show. this is for bloomberg subscribers only. check it out. this is bloomberg. ♪ shery: let's get a quick check of the latest business flash headlines. leading chemical maker is cutting full-year sales and profits forecast on the deepening slowdown weakening auto markets and the fallout from the u.s.-china trade war. the company notes a disappointing scenting quarter and says earnings will be as much as 30% lower this year than last. the chemical sector has been hard-hit by the trade war as demands slow because of a wide range of group -- across a wide range of industries. uni credit has raised $1.2 billion by selling his remaining 18% stake. the sale begin after the markets closed in milan and two months after it disposed of an initial 17% of the internet lender. the ceo is reviewing unicredit's p

that is jim bianco. ed hammond is standing by right now. i am here with the ceo.onference.resting i want to get into what is going on in the lodge. let's talk about 401(k)s. talk to us why -- about why it is so important. joey: 38 million americans don't have retirement accounts. for are not remotely ready retirement. incredible tax incentive for the government. that means you can put money into an earned today account and it can compound, tax-free for a very long time. the value of that is tremendous to an employee. they are allowing a lot more people to participate in the economy. we were not taking advantage of it enough. we would match 100% of what .mployees contribute that helps people put a lot of money away for retirement. earners in thest company were maxing out what they could put into a 401(k). this helps bridge the income inequality gap by not just moving money to these people but also helping them participate in markets where value creation has occurred and where a lot of that value creation has not gone to his lower earners and companies. they don't p

in fact doohickey gum kind of evil muscular style only bianco. since an economic alcohol or the. latter because they do maintain a known person who told the new no consider if a 1000000 berry ali. did the last deal but their ground got. rather throw just so. you don't have to. go for the british royal. family that's. 5 prize sheep for 8 years and no money changed hands this is how they've always traded on the grasslands. of the shuttle. that generally just seem to. have to. i thought i'm just a little annoyed or. something . good. people are not going to sit. with anderson. says he supports. the mungo to east timor to be an. issue fundamental that id bit i mean to the fun little tot he calls you little to mean dick. pickle they're still multilevel bush one of orthodoxy. this is. for the. today in the mongolia. there are only a quarter of the horses that there were a generation ago. the grasslands have become china's industrial backyard. it's not the power of the mongols but the power of china that can be felt everywhere. you know who don't need to. go to the churches and. over so

in fact doohickey gronk are not evil musketeers the only bianco. sins an economic at the altar call or the. latter because they do maintain the don't push their bible to the new no consider if a 1000000 bury ali. did the last year but their ground got. rather throw just so. you don't have to. go back for the british royal. family that's. 5 prize sheep for 8 years and no money changed hands this is how they've always traded on the grasslands. of the shuttle to. the judge and they just seem to. have to. i thought i'm just a little annoyed. some . good. people are not going to sit. with anderson. says he supports. the mungo least 3 don't need oral cavity more to be an. issue fundamental that id bit i mean to be funny little toddy because you would want to mean dick. pickle they're still multilevel well short of orthodoxy. that. this you. do. want to. today in the mongolia. there are only a quarter of the horses that the were a generation ago. the grasslands have become china's industrial backyard. it's not the power of the mongols but the power of chi

in fact doohickey gum kind of evil masculist alone a bianco. since an economic at the altar call or the. lottery because they do maintain that no person who told the new no can. be less deal with their ground god. rather throw just out there you don't have to. go back for the british royal. family that's. 5 price shoot for 8 years and no money changed hands this is how they've always traded on the grasslands. of the shuttle. that i don't know they just seem to. have to. well. i thought until it or. something to. listen. to. people or not all of them said. anderson. says he supports. the mungo least 3 don't need oral cavity more to be an. issue fundamental that id bit i mean to the fun little tot he calls you little to mean dick. pickle they're still multi-level bullshit of orthodoxy. that. this is you. want to. today in the mongolia. there are only a quarter of the horses that there were a generation ago. the grasslands have become china's industrial backyard. it's not the power of the mongols but the power of china that can be felt every. lang

research -- at bianco research, and all of the growth in the s&p 500 can be traced what happens in s&rnings. they track each other closely. to the extent that you start to see earnings pick up and they have flattened out in the last few months if you look at the quarter results, that may well be what sustains stocks here. vonnie: we are well above 3000 for the s&p 500 area our thanks to bloomberg's dave wilson. he has a chart of the day and if you want to see this, send a message to dwilson@ bloomberg.net. we will get more insight from the tech industry from bob swan. ahead, tensions rising in the middle east. iran firing a ballistic missile. oil is trading lower. this is bloomberg. ♪ ♪ live from new york, i vonnie quinn. guy: from london, i am guy johnson. this is bloomberg markets. it is time for futures and focus. joining us now from cme, phil struble. fires aians ballistic missile to test, but it could officially shut down the strait of hormuz and pose a risk the regional economies. oil trades are lower. walk me through it. outlook for crude oil right now is bearish. on the demand

from bianco research what do you think of the markets? >> they could be higher. thing that that's been driving them is the fed is easing. the prospects of negative earnings growth which is what we are projecting for the second quarter and the third quarter, that's the consensus projected negative earnings growth right now as long as the fed delivers and the rates stay down, that should be -- continue to be a tail wind for the stock market >> do you think, keith, the short term >> we bought signals in the short term especially the russell 2000 which is an index that's been lagging large caps for a variety of reasons on that i agree with jim i think we can grind higher as i said a couple weeks ago. we could melt up through july. that was based primarily on the thesis they were going to cut rates on that. if we do have an earnings recession, we're going to have to have the rate cuts globally and ease money supply to keep the equity market growing. >> what s&p target are you looking at if the positives come through? >> we came in a little bit

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and so bianco former minister of the interior has closely followed the extraordinary story of this dossier mill yet chad on document the wall up at the u.s.c. it caught on a limb introduced the college where money in it left plays an elephant that made it a key but they will tease out. that food soldier is rocco martino a longtime sees me agent informer to french british and american secret services he is the one who circulated the seemingly explosive dossier among his so-called clients. this is it it contains official looking documents that allude to a sale by me zhao to iraq of concentrated you renia or yellowcake. the yellowcake dorsey he finally lands on the desk of vice president cheney in february 2002. when dick cheney saw this report from the defense intelligence agency about yellowcake iraqis seeking yellowcake in darkest africa and asia where. he asked the cia briefer or you think about this this year briefer said well i'll check it out and to verify it the cia summons joe wilson on february the 19th 2000 . to wilson is familiar with the 4th largest uranium producer in the world

i'm suited for q molly moved to a bill to slug seal bianco so much i mean you know if we were to die or figure. to show it would really phenomenal in bungay us you didn't resign i wanted but he was and i was film in the closet for you there on time the b.b. was an image will be a few miles that iraq good will be buried. in croissants. by the end of the postwar boom in the early 1970 s. government debt in europe was a great cord low thanks to growth and inflation but the economic machine would soon be upset by 2 major events. good evening on august 15th 1971 richard nixon the president of the united states his coffers had been emptied of a gold reserves by the vietnam war announced a staggering measure that would drastically change the world economy. would have been the dollar against the speculative. i directed secretary connally to suspend temporarily the combat ability of the dollar into gold or other reserve assets except in amounts and conditions determined to be in the interest of monitor instability and in the best interest of the united states. but it was not a temporary measu

just all celebrate joining us to talk about the market day, jim bianoco is the president of bianco research investment and retirement job and josh brown great to see you all all right, let's start with you, josh what's moving the markets higher >> i think mike was pointing at international stocks and pointing out small making a comeback those, to me, don't get a lot of the headlines, but those are two of the most important factors. the broadening out of the rally says only one thing. there is more confidence than there was at the start of the year even germany is up 18% shanghai composite is up 25% these are big moves and big international markets where the economic news has not been great. you couple that with the idea that value is coming back a little bit finance, energy and those are the two most important sectors for value. you couple that with the indices catching up and that will take a while and start to move higher small caps doing better which is also a financials story. that is important for market confidence and important for technicals for a lot of reasons that, i think, will b

joining us is david bianco from dws group.ad of fixed income what do you see as far as the jobs numbers coming in and do we want a strong one or a weak one and are rates going lower? >> i don't think it matters at this point so for the july -- or the june jobs report, the feds cut in july is in the bag whether that is strong or weak, we're going to get that one cut. now if your bullish on the u.s., you want to see that being a strong jobs number but for terms of fed policy for the media term meeting i don't think has any effect. >> what do you think >> i agree with tom. the fed basically promised a cut and they better deliver otherwise we'll be upset with the inability to community clearly. one cut but not a series of cuts the labor market and the report shows the labor market is solid and full and healthy labor market continues, led by services look, we have going on still the trade conflict, slow investment spending, manufacturing and global growth and i find myself continuing to shave my earnings estimate for the s&p we kee

and so bianco former minister of the interior has closely followed the extraordinary story of this dossier chaired a local made the ball look at the u.s.c. it called on a limb introduced the police women in it left brazen enough at that it. a key but they will to be savvy. that food soldier is local martino a long time sees me agent informer to french british and american secret services he is the one who circulated the seemingly explosive dossier among his so-called clients. this is it it contains official looking documents that allude to a sale by me zhao to iraq of concentrated you rhenium or yellowcake. the yellowcake dossier he finally lands on the desk of vice president cheney in february 2002. when dick cheney saw this report from the defense intelligence agency about yellowcake iraqis seeking yellowcake in darkest africa and asia where. he asked the cia briefer or you think about this this year briefer said well i'll check it out and to verify it the cia summons joe wilson on february the 19th 2002 wilson is familiar with the 4th largest uranium producer in the world he was posted

unanimous consent to enter the following statements into the record, the statement of steve dell bianco of net choice. >> all of the statements will be entered. >> barron selka and the statement of caleb watt knee of r street. finally, i ask for unanimous consent to enter into the record an editor kral that ran in the "washington post" on july 13th titled "how congress can destroy social media." >> all of those will be entered into the record. >> thank you, mr. chairman. >> thank you to each of the witnesses. mr. parker, i want to thank you, again, for sharing your story and your daughter's story. and i will say i very much agree with you that you ought to be able to sue the heck out of google and youtube. >> yeah. >> and if anybody else other than big tech did what they have done to you, if any other citizen delivered a vhs tape of the murder of your daughter to you and your neighbors, you would have a common law tort for intentional infliction of emotional distress and you could recover very significant damages. there is one group in the united states that is allowed to do what it's d