alix: ticket look at the bloomberg here -- take a look at the bloomberg here, historical spread between the dxy and the s&p. we are around the peak levels we've seen in 2002, 2008. is the dollar a risk asset or save haven? axel: that is a good question. versus the major currencies, most notably versus the euro, it is no longer a safe haven. there is a high correlation to the euro these days. the euro has been the save haven play because interest rates are so much lower in the eurozone. risk is off, people buy back the euro. ourging markets are liquidity play. if you look at the dollar index which is overwhelmingly dominated by the euro, in risk off environment, the dollar index should be falling. it is not a stable correlation, but that is the environment we are in the medium-term right now. onx: what is your take coronation at the g20? ecb will focus on the domestic credit channel, the fed will continue to reduce pressure on the dollar. axel: the agreement is to live happily ever after. the markets don't listen to these agreements. you would like to appease the markets, but ultimately

he will be hosting bloomberg west all week. right here on bloomberg television.n the next hour of bloomberg markets, is the rally inequities running out of steam? recapping a bit of breaking news this hour, shots have been fired at the capital center. the capital is on lockdown according to capital police. more after the break. ♪ oh, hi! micky dolenz of the monkees here, getting ready to host the flower power cruise. (announcer) we're taking the love generation to the high seas and reliving the '60s. we'll celebrate that unbelievable era with the music that made it so special. there'll be over 40 live performances featuring eric burdon & the animals, micky dolenz, the monkees lead singer and cruise host, the 5th dimension, the lovin' spoonful, rare earth, spencer davis, three dog night, and many more! imagine enjoying all that great music on the fabulous celebrity summit, leaving fort lauderdale and making ports of call in jamaica and the bahamas. you'll be back in the days of bellbottoms, peace signs, and so much more, with special theme parties and 20 fun-fille

bloomberg markets. the close of trade moments away. herere the major averages stand. ♪ betty: this is bloomberg markets. before we get the market check, a bit of politics. we had primaries yesterday. we heard earlier from donald trump off of his arizona win. cruzepublican senator ted fresh off his win in the utah caucus. here is a preview on "of all the respect." room --u are now the the candidate of mitt romney and jeb bush. senator cruz: in the last 10 days, we have been endorsed by mike lee and mark litan. it's about as wrought a spectrum in the republican party as you can imagine. it is the entire ideological spectrum and i think the reason is simple. percent to 70%65 of republicans recognize donald trump is not the best nominee to go head to head against hillary clinton. donald loses to hillary and i beat hillary. what we are seeing every day is republicans coming together to unite against our campaign and that's what it's going to take to beat hillary in november. john: some people see you as a vehicle to stop donald trump. is that fa

take a look at the bloomberg. heres the bull market run in white and the s&p 500 climbed. -- climb. going from 2009 then werly 2012, and have seen outflows. even as we have seen stocks continue to go higher, we have seen a decent about of money coming out of funds that track the u.s. market, interestingly enough. the question is, can we keep going? vonnie: tell us about the uighurs -- the leaders and lacquers. -- laggers.quers 1%, andp by about besides that, some of the defensive groups doing better, utility, telecom and technology consumer discretionary, the only group that is lower just slightly. a half hour,bout we are getting the weekly inventory numbers. i will be bringing you those and we will see if there is a directional change. prices we have seen oil moving on the production numbers that come out, rather than the inventories numbers. we hope is that with production falling, supply will also fall. today, in effect, it means money is falling out of safety assets. by. is down 1.25% we are seeing some selling in

to hear more of her exclusive interview with brian chesky, tune into "bloomberg west" tonight right hereerg television. stephanie ruhle sits down with kevin durant. they talk nike, endorsements and the nba. that's coming up next here on "bloomberg markets." ♪ . . >> it is 3:00 p.m. in new york and 3:00 a.m. in hong kong. welcome to "bloomberg markets." ♪ ♪ betty: from bloomberg world headquarters in new york, good afternoon. i am betty liu. here's what we are watching. markets are kicking off with gains in industrials and materials. commodities are searching. the dow finally erasing its loss on the year, and the s&p briefly turning positive. apple shares are up 8% in the last month, but is there trouble looming ahead? recent supply chain checks show softness possible in the iphone. nba superstar kevin durant, in an exclusive interview from the nike innovation summit. the oklahoma city forward fills us in on everything from his new speakers -- sneakers to be latest in sports tech. we are one hour away from the close, and stocks are rallying big-time. ramy inocencio has the latest.

there was a lot of hope, like bloomberg here in new york city, did so much work because he's a businessman. he's pro business. trump hasn't really talked anything really about small businesses. i think most of the time he has been talking about the great wall of mexico, built with money and mexican workers. >> we just talked about this in the piece we just aired. we went down to daytona beach and interviewed small business owners. i'm wondering if you find this when you talk to your members. we went out and said, do you feel like any of the candidates under the challenges you face? right? people can talk a good game of i want to support small business but we ask people do you really fell like someone out there understands what you go throe day to day? overwhelmingly, people we talked to said no. >> so what we really are finding is it's more aligning to, do you know how to start a business? have you hired people? have you fired people? overwhelmingly, our community really feels like trump has done that. he's the only one that's done that. he's not a career politician by any means. and he's

here you see the crude oil chart and west texas intermediate cr. ♪ >> welcome to bloomberg markets. g rally is taking place on the street today. here with us now to dig into what is moving markets is joe weisenthal, who was anchor of what you miss? joe: it while day. what was really interesting, we were agreeing all morning. --was interest how will interesting how markets shrugged january pmi number. we got a strong construction name and number, and as soon as that happens, not only did you see further gains on the equity side, but use hobby long end of the current jump up. today we saw a reversal, curves steepening. slowdown, fears about deflation really seem to be coming off the table. here.i have a chart 13 can see that until july -- that is not right. we are on march 1. we are still down. this is the 2/10 fred. -- split. you are saying that we have started seeing a little more? joe: today was very minor. we have flattened a lot and we're still not an version .evels in the is a sign that some of data we got is not particularly consistent with a recession or deflation. >> is this j

wells fargo is one example, take a look at bloomberg here.sking at eeg, which the change in the earnings estimate over time. the white line is the stock price, which has fallen. here is the earnings per share estimate from analysts. as you can see, it has fallen gradually. something else that definitely we have taken note of is the idea that banks have underperformed this year. it's the second largest group in the s&p 500 that accounts for 16% of that index. it is the s&p 500 in blue. here are some of the largest banks. the white line is wells fargo, pink is jpmorgan. and then you've got bank of america in green and citigroup in orange. their underperformance is a little bit more dramatic. they are already underperforming. it should be interesting to see what happens when those earning reports actually come out to see what kind of performance we get. the question is, can the s&p 500 outperform while banks continue to underperform? david: coming up on "bloomberg markets" -- more trouble ahead for marissa mayer. ♪ david: welcome back to "bloomb

ofyou look, i made a chart that on the bloomberg. heret comparing the volatility of these asset rates. yes, we have seen volatility rates come down, but still a very elevated level. we see that above 20. the volatility level as measured is 16.5.x stocks today, yes, they are seeing gains, but it is a fairly tight range. all of byd the nasdaq half of 1%. they were down this morning at the open, but we are still seeing a relatively tight range. take a look at the bloomberg. this is the index i have been checking a lot lately, the range -- range of the doubt. it was funny. we kept joking. nothing was happening. maybe the jobs report would give us more direction, we got the jobs report. you are right.: scarlet: let's get to bloomberg's first word news, and mark crumpton has that. we're focused on politics. mark: absolutely. groups backing ted cruz for president are combining resources to raise even more money. his campaign has 13.5 million dollars available at the beginning of the month, more than twice what marco rubio's campaign reported and

we will have the numbers on bloomberg. here is an update on breaking news developing of the capitol visitor center in the nation's capital. shot, not officer was seriously. the shooter is in custody. is a situation we are monitoring closely. we will bring you the latest. ♪ carroll: mark crumpton is with us for an update on those capitol hill shootings. we will turn things over to mark. one of our congressional correspondent is in lockdown on capitol hill right now. billy, what more can you tell us? philly: we are watching carefully inside the u.s. cap role where the reports have varied but ambulances pulled up after about 20 minutes of reports of shots fired in what is called the capitol visitor center. know who might have been injured. we are on lockdown here. speaker.r a loud people were told to find shelter immediately. what we know now. there were all kinds of reports that one person has been shot. those have not been verified. we ian ambulance here. -- we see an ambulance here. took place roughly, i was sitting at my desk

let's look at the bloomberg here.pically get a little more of an updated look at what is going on. now gaining some steam. we have seen a big recovery that his been going on over the past six weeks or so and the oil prices. wti climbing by more than 40% since february 11. now more than 50% since the short-term well as we have seen the ongoing climate oil prices. to give another look at what we we here for inventories, have been seeing weekly climbs for seven straight weeks but this is smaller than estimated. betty: a bit of a mixed reaction. you saw the price of oil go down but it is now back up again. people digesting little more of what the impact is. vonnie quinn has more from the news desk. thank you. in indianapolis, prosecutors are steady to announce an hour when police officers will face charges. demar was reaching for an officer's gun when he was shot, which is to death and witnesses say he was handcuffed. proteststo massive outside police headquarters. the new push for the un's to counsel took action for his

tune in for the exclusive conversation on sunday right here on bloomberg television and you can subscribe to the "studio 1.0" on itunes, sound cloud, and podcastrk last -- platforms. ♪

. >> speaking of, take a look at the bloomberg here. curve, withed the the market things oil will be over the next eight years. you can see how unbelievably bearish it is right now, but they're looking at prices around $51 by 2024. that is unbelievably pessimistic. what is unbelievable is that people can predict the price of oil eight years from now. shutdown, reg sketch the studies keep pumping to maintain market share. right now, we have too much oil. it's our view that oil prices will be lower for longer. --long as you don't point own an oil rig, that's a net positive. >> she said it was going to be good, but was not gung ho on it. >> they have achieved the dual mandate. they don't really want to talk about it. maybe they are not dated defended in the u.s. anymore. they are globally data dependent. wt extent are we going to be looking at every global pmi report, specially those out of china, for us to determine when the next rate hike will be? normally the fed talks about risk to the u.s. economy, now they're talking about global ris

let's get to the bloomberg business flash. here's nejra cehic. nejra: thanks.eported its fastest annual profit growth in three years. clothing retailer says net income rose 15% to to 2.8 billion euros. since it's initial public offering, the owner has boosted its sales more than six full through aggressive expansion. said it wants to boost annual profits in 2019 as it cuts costs. the third-largest bank in france by market value promises annual growth over the next three years. citigroup has become the latest wall street bank to signal a dismal start to the year. shares slid after they expected first-quarter revenue to drop 15% on the year. citi is expecting an even steeper tumble. cites low interest rates and plunging commodity prices. that is your bloomberg business flash. hans: thank you. we should mention that eon is now falling; it was up a little bit, so we will be keeping an eye on it. the question for investors is that whether the european central bank will be, but how. society general's chair that in former ecb executive board member says that the centr

matt: coming up in a little over than an hour, skye bridge capital partners joins us on bloomberg . vonnie: here'sberg business flash. in california, lawmaker and have raisens the minimum wage from $10 an hour to $15 an hour to make of the highest statewide minimum wage in the u.s.. the minimum wage would not hit until the year 2022. arep and foxconn technology to tone their deal after a month of delays. agreed to by the electronics maker for more than $5 billion, but the takeover has been delayed while advisors study starts finances. foxconn is likely to cut the amount it will pay. tickets for opening day at the new shanghai disneyland sold out within hours of going on sale. the park opens june 16. disney is targeting 330 million chinese that live within a three-hour car or train ride cou. on the bullet train, that is probably taking you to the other end of china. jonathan: we are an hour and 45 minutes away from the open in new york. let's get you up to speed on global markets. europe is closed and the rest of the world at work. the shanghai composite down by 710 to 1%. regulation for the real e

tracy: he is team leader for oil markets here at bloomberg. donald trump hits the campaign trail with chris christie in north carolina as pulls show him with a commanding lead in florida. is it too little, too late for marco rubio? ♪ david: this is bloomberg markets. donald trump and john kasich arnett and neck in ohio, both with 38%. ted cruz came in third with 16 and marco rubio is in last lace with 3%. trump has been hitting john kasich with ads in the state and moved a florida rally to ohio. let's bring in our washington bureau chief, megan murphy. about what donald trump has to achieve in ohio. it seems like florida, he has any well wrapped up and marco rubio making a big push to win his home state, but if you look at that when a px poll, trump of ground -- rubio has a lot of ground to make up. megan: i do want to remind you that in michigan, we saw bernie sanders pulled a 20 point gap. donald trump is running so far ahead and has made such a push in florida where he has many business and personal ties. in ohio, it is a real battle betwee

more on brussels throughout the hour and the day here on bloomberg tv. as we go to break, here's a live shot in europe. the colors of the belgian flag in honor of the victims of today's attacks in brussels. ♪ david: it is time for the bloomberg business flash. president willn not be taking a cabinet post, at least not yet. a supreme court justice is rejecting a request to let love be the chief of staff to join in the cabinet would make it tougher to prosecute him. puerto rico got a mixed reception at the supreme court today. puerto rico is trying to revive the law that would directly affect $20 billion in utility debt. still ahead, we will have today's options inside. more after the break. ♪ julie: it is time now for the options inside. kelly kelly is here to talk about the lack of volatility. been talking about all day, we had these terrorist attacks in brussels. beenhe markets have interestingly resilient, including the fact that the vix has remained quite suppressed. even when it was rising today, it wasn't by very much. kelly: when you start going int

welcome to bloomberg . in are here with us bloomberg world headquarters in new york city.avid westin. lots to cover. john says we are going to break down the fed meeting with adam xander. amy, welcome to the program, both of you. >> the markets are not

"ou are watching "the pulse live from bloomberg's european headquarters in london. here'sloomberg first word news with nejra cehic. nejra: hillary clinton has delivered a decisive super tuesday performance. she defeated bernie sanders by wide margins in democratic primaries. , chung has a firmer grip on the republican presidential nomination. home state ofis texas as well as oklahoma. moody's has cut its outlook for china's credit rating to negative from stable the cause of rising government debt and declining reserves. the agency sees state debt increasing by next year. moody's affirmed its long-term debt rating for china but says beijing's policies to support growth may slow the reform of state owned enterprises. and thele between apple fbi heated up yesterday as lawmakers in washington heard arguments from both sides on the phone encryption issue. >> there are no demons in this debate. the companies are not evil. the government is not evil. you have a lot of good people who see the world through different lenses, who all care about the same things. the companies care ab

here is google over the past year. ♪ betty:betty: welcome back to "bloomberg markets." liu, here with lisa abramowicz. a $100 million pay package going , a payceo of google package that was not disclosed in filings until today. is he worth all of that though? for more on that, let's bring in cory johnson. is he worth it? hope so. for the sake of google. i mean, who knows. i don't know how much of the deal was for cash in the filing. one of the reasons they restructured the company was to allow other people to rise to the top of the different business positions. mayernly with marissa with a very big pay package, ined a way to yahoo!, taking $100 million before leaving. very big payback, google has been a part of that culture for a long time. mostly come in the form of salary and stocks over the long term. betty: take us back through, cory. what has he done that has propelled the stock price so much? if the stock -- if the business continues to perform, if the free cash flow continues to flow, i don't think it will be an error. what about apple? let's talk to the people yo

alix: take a look at the bloomberg here.s is taking a look at china refined import premium versus volume. premiums are good way to judge demand because it's how much you will pay over the spot price. that has fallen to below $50 a ton, the lowest level since november of 2012. this couldere is signal the end of the buying spree we've seen. they have been refining a lot of copper in china. the premium does not vote as well. julie: we've also been looking at stockpiles as well. if we can take a look at the stockpiles chart, the last one we are looking at, stockpiles continue to grow because as the price has pulled back on copper -- there it is. here's the futures exchange and the stockpiles, the storage of copper in china has continued to climb here. the question is, what is going to happen now? a note nott with optimistic on any commodities. copper was one highlighted. alix: calling for a 24% decline. great stuff. thank you so much, julie hyman. you see gold gaining today. janet yellen sounds caution on raising interest rates.

bloomberg best." i'm ramy inocencio. tuesday was international women's day. some of the world's most influential women joined us right heresion, and while they were not with us primarily to talk about gender equality, we did ask many of them to reflect on their it. as women in the workplace. their answers were informative, impassioned and illuminating. , >> if there was one prescription to get more women to work, or actually to get closer to the pay gap, one prescription in the next 12 months, what would it be? >> i was there is one soundbite answer, but definitely some strides we can make. for example, mandated principle leave. -- parental leave. if you give women, after they have a baby, actually have a break, they are more likely to come back after. that is one, closing the gender pay gap is another one too, the tutoring to advance women in them health. the one i'm focused on, the gender investment gap. it can earn women hundreds of thousands if not millions of more in their career. dollars i wish there were one answer, but there are several. >> everyone knows wall street is getting better. there is a better pool, a sm

welcome to bloomberg . in are here with us bloomberg world headquarters in new york city. i am with jon ferro and david westin. lots to cover. john says we are going to break down the fed meeting with adam xander. amy, welcome to the program, both of you. >> the markets are not liking it, but let's go to first word with julie. cane: neither from runner win the nomination outright today. donald trump and hillary clinton -- read john kasich was -- with a slightly to overcome. polls show donald trump with a double-digit lead in florida. a big loss there for marco rubio can put and end to his campaign. clinton is expecting to increase her lead in the race. russia says its forces have started leaving syria. --t puts the pressure on his on syrian bashar al-assad. from kimh talk jong-un. -- tovowing to dedicate detonate another nuclear warhead. he says he will test launch a ballistic missile capable of carrying one. it is a sign that the sanctions have not dampened his ambitions to build a long-range nuclear missile. matt: we are coming down a little bit with s&p futures down 10

here onfor that right bloomberg . here are the futures markets for you. our futures -57.in europe, down by 1.8%. deutsche bank up by almost 5% this morning. so much to discuss next. ♪ >> it is a: 30 here in new york city. you are watching bloomberg . jon ferro is with me and david westin is in dcn he just finished a very interesting interview with down greenspan. rattner.ined by steve we will get to julie hyman in a moment. but we have got a lot to talk about. moves, it the market love really making john feel bad that the u.s. bank noticed what happened yesterday and it was not until the european banks went to bed, woke up and figured out those europeans are a little slower. breaking news for us. julie: an increase in jobless claims last week. ofalso coincided with a time businesses and households to calculate payrolls and job rates for march. there is a week when they do that each month. 265,000 is the number and slightly lower than estimated by 3000. numberontinue to see the near a four-month low as we saw a little bit of a tick up week over week. are also seeing, a

map onlook at the bloomberg here. you've got energy in the top spot here. of 1.8%.like a mixed picture when you look at the balance between red and green. doing well. materials also participating in that commodity led rally. oil prices are higher today in the wake of the weekly inventory support. drop was a week over week in the size of the inventory build. there was a drawdown in some of the refined products. thanrices now at better 3.5%. i've also been watching the commodity currencies. we take a look at wcrs. you can get a currency monitor. this is the one day change. terms of performance, you have the south african rand, the brazilian real, of these commodity-based currencies doing well today as we have commodities prices on the rise. scarlet: i went to go back to the ecb for a moment there and stick with the euro. what kind of trends are we seeing there? julie: we are not seeing a trend ahead of the euro. there has been some gyration. it's only a move to the upside, not even 2/10 of 1%. there has been volatility in the euro heading into this decision, even thou

sunday, right here on boomer television. -- bloomberg television.0 the nasdaq up about 1.5%. more bloomberg markets coming up after the break. ♪ hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. when it comes to the fithings you love,. you want more. love romance? get lost in every embrace. into sports? follow every pitch, every play and every win. change the way you experience tv with x1 from xfinity. >> 3:00 p.m. in new york, 4:00 a.m. in hong kong. welcome to "bloomberg markets." carol: from bloomberg world headquarters in new york, i am carol massar come in for betty liu. stocks rallying on the study, p

cory: here with more about the head to. -- had to bloomberg. we're joined by ramy inocencio.: today we saw a rally, call it a yellen two-day dove rally. nasdaq all, dow, and opt on the order of about half a percent. the highest since the end of last year or early this year. funds's are no pricing in a 50% chance of a hike, no earlier than this coming december. a lot of change happening with what creators are envisioning. hop into my bloomberg. i want to show you the performance of the nasdaq, so far year to date, and i want to direct your attention to this green box here. the nasdaq for this month is up by 6.83%. we are definitely pairing the losses we saw from the cross equities, down 7.8% in january. the last time we had a good market performance for the nasdaq was back in october, 2015. five months since we have seen a good rally. let's take a look at what's happening with some individual stocks right now. first off to the nasdaq's top two. 1.8%,rising, up by nearly rallying to a three-month high after an upgrade. they are also increasing their 12 month price target by $10

here. thank you for joining us on bloomberg television. november, for those who don't remember -- remember, you gifted the chance for more money to spend and then you have taken it away again with more whysions to the forecast. have you turned gloomier? the biggest change is revising down the estimates in the change next year. the amount of output that you get every hour that people are working in the economy. if you look across a number of countries, one of the recent your puzzles is productivity growth being a lot weaker than some people expected, weaker than it was prior to the financial crisis. in the u.k., go back to the summer of last year. it looked as though things were picking up. earnings growth was getting stronger. wage growth was getting stronger. assumed that this was consistent with the view that said productivity was going to get back to its historic average with the problems in the financial sector. what we saw at the end of last year was a big fall in productivity growth wiping out that apparent growth and earnings growth

ahead on bloomberg markets, today's options insight as we had to break -- here's a look at some of theectors on the move today. ♪ betty: this is bloomberg markets. i'm betty liu. stocks are touching fresh highs itsy with the dow on longest winning streak since october. julie hyman is standing by with how the options market is handling it. julie: joining me for today's options insight is a derivatives strategist from mtm holdings. we have had this rally in recent days. it is low volatility and low volume, yet you are steadfast in your view that we are in this higher volatility environment. what is indicating that to you, that we are not in a lower volatility environment? jim: going back to august of last year, once spot next got above 40, we took that to mean we had shifted into a higher regime which we expected to last several years. historically, we have 30 years of implied volatility data and over that time, each of these regimes have lasted about five years on average. admittedly, it's being tested now but every time you come into a trough with volatility low and vix flirting with t

bloomberg west anchor emily chang will have an exclusive interview with loretta lynch live at 4:00 p.m. eastern time right here on bloomberg television. the united nation security council votes today to impose more sanctions on north korea. kim move comes after jong-un's regime carried an underground nuclear test. would for bidns north korea from exporting minerals. the cease-fire in syria is now in its fourth day and u.s. plans to take advantage by delivering marking military and eight. both sides in the civil war have reported violations. the u.s. wants to distribute 250 thousand people in siege by government and rebel forces. the last will and testament of osama bin laden has been declassified and made public. the claims to have had $29 million in personal wealth, the book which he won to be used on jihad. they were releasing a patch of more than 100 documents seized in a raid that killed bin laden and his compound in pakistan back in 2011. global news 24 hours a day powered by 2400 journalists in more than 150 news bureaus around the world. mark: alan greenspan let the federal reserve back in 2006 after sp

stay with us on "bloomberg surveillance." ♪ francine: i'm francine lacqua here in london. e is in new york. we are looking at the markets and brexit and u.s. politics but first let's get to the bloomberg chase with narrowa. >> thank you. the largest clothing retailer reported its largest profit. owning eight chains saying net growth was boosted by online sales. alibaba plans to start syndicating a loan forasmuch as $4 billion, and china's largerest online retailer plans to fund m&a retailers. u.s. bank stocks fell after citigroup joined its rivals with a warning on trading revenues. it says fixed nbling will robably drop 15% making 2016 the fourth year trading has fallen. that's your bloomberg business flash, francine, you have more on this. francine: yes. because we have to look at the implications for what citigroup says as mario draghi meets with the e.c.b. tomorrow. joining us with more is bloomberg's michael morris, he heads our u.k. financial coverage. you know citigroup michael like the other. what did you make of the remarks? it sounds like a profit warning, right?

here is the bloomberg flash.hesapeake energy or cofounder aubrey mcclendon has died in a car crash. a day after he was charged with rigging bids for oil and gas leases. he faces accusations that he conspired to kee drilling rights artificially low. he drove his car at a high rate of' speed. in earnings is higher consumer spending makes it easier to sell high-priced goods. sports shoemaker says net income will increase 10% to 12%. the growth margin loan there as much as one percentage point due to higher purchasing costs in asia. that operating profit dropped 6.1% last year. the company says it was hit by -- many of the living in developing electric vehicle technology. volkswagen'smpany largest earning conservator. -- contributor. guy: let's talk about the euro stoxx 600. a little lower this morning. wages for the fed will raise. you can see the market expectations for u.s. rates. button and youo will get all the numbers you need to know. post the election, it does seem november and the united states. the pendulum

here. if i can find my chart this morning that hillary made for me on gold inflation adjustment, it was an interesting one, if i have a second to find that on my bloombergi'm going to do that. here, here it is. alix, you are going to like this one. a lot of people talk about gold as an inflation hedge. we have seen a big game to $1200 an ounce. here is gold adjusted for inflation. on that basis we have not surpassed the prior high from call this the 1980's. called the inflation hedge for inflation-adjusted, it is lower than it was. does that make sense? alix: i have to process that. i wish i asked frank holmes that question. julie: the chart is there. alix: thanks so much, julie hyman. scarlet: speaking of metals, copper. some analysts say the recent rally do not make sense. alix: prices have rallied while the consumption ratio keeps rising. since the beginning of the year, global stocks, the orange line, rose to 4.5 weeks of demand. if the inventory keeps rising, how can the rally, that white line, actually continued? i want to bring in dane davis, barclays commodities analyst. rallies make sense? we produced of that chart, we do not think this price i

bloomberg businessweek." we are inside the magnesium -- magazine newsroom. defending yourself from online defamation. let's go meet the editor. ♪ carol: we are hereor of "bloomberg businessweek," ellen pollock. you write about a capital mystery. meaning capital expenditure. ellen: we look at why companies are investle

here is the bloomberg first word news. >> the yuan fell to a 15 month low. smaller than estimated increase fixing speculation that china is trying to limit gains against the dollar. compared with 1.1%. in brazil a federal judge released recordings that president roosa and her predecessor da silva. earlier she said she was bringing him into the government for his merit the nine it was to shield him from a corruption probe but critics say that a recording from a police wiretap suggests otherwise. eu leaders in the turkish prime minister will meet in brussels today. ahead, angela merkel proposal to- the take back refugees fleeing into greece in exchange for more visa fee travel and further eu talks. global news toy four hours a day . stories guy:. in a distinctly outward facing policy statement the fomc cited global growth concerns. let's bring in the global head of fixed income strategy. saw a problem, how big a shift is this? >> i always thought it would be difficult for the fed. but even by my standards that was a very dovish fomc. especially when the cpi is

here on the show. selena wang of newburgh news in new york -- of bloomberg news in new york. california governor jerry brown weighing in on the presidential campaign and donald trump. he gets very candidates next. -- very candid next. ♪ emily: who was the big winner of the republican debate? it may be hillary clinton at the presidential candidate posted nine tweets, netting a total of 10 million impressions. republican front-runner donald trump led the pack, picking up 800 additional followers -- the debate averaged 14.5 million viewers according to preliminary ratings. i sat down with governor jerry brown for an exclusive interview on the political landscape, silicon valley, and climate change. i asked him how he thinks this primary season will play out. gov. brown: they are divided between republicans and democrats, conservatives, liberals, religious fundamentalists, libertarians, and all the rest. we have a crisis of governance in the face of an increasingly dangerous world. people are upset. the candidate see is not all that inspiring. it is very difficult in the midst of

"bloomberg surveillance." ♪ oh, hi! micky dolenz of the monkees hereto host the flower power cruise. (announcer) we're taking the love generation to the high seas and reliving the '60s. we'll celebrate that unbelievable era with the music that made it so special. there'll be over 40 live performances featuring eric burdon & the animals, micky dolenz, the monkees lead singer and cruise host, the 5th dimension, the lovin' spoonful, rare earth, spencer davis, three dog night, and many more! imagine enjoying all that great music on the fabulous celebrity summit, leaving fort lauderdale and making ports of call in jamaica and the bahamas. you'll be back in the days of bellbottoms, peace signs, and so much more, with special theme parties and 20 fun-filled celebrity interactive events. cabins are filling up fast, so come on, relive the era you remember so well. the flower power cruise, february 27th, 2017. let your freak flag fly. don't miss the grooviest trip at sea. tom: good morning, everyone. after a three-day weekend, "bloomberg surveillance," in new yo

alyx: from bloomberg world headquarters in new york, good afternoon. here is what we're watching at this hour. stocks are mixed to start the trading week. the final week of the first quarter. . janetr stocks rise yellen will give remarks about the economy tomorrow as new numbers are out on personal income and spending. what clues will she give about the next rate hike? at pandora.eup ceo brian mcandrews is out. tim westergren returns to the top job. so far the move is not music to ears.street's for more on today's activity we want to head to the markets. julie hyman has the latest. on this extremely light volume day. julie: we do know it is vacation week for many kids out of school so that means some folks are away. also, we have had a strong run of gains for the major averages. five straight weeks of gains. so now we are sort of hovering. there is a positive momentum as the s&p and dow gained slightly. the nasdaq down very slightly. if you look at the s&p 500 over the past week, it is not just today that we have seen this. there has not been that much of a

. ♪ alix: as we wrap up "bloomberg best," here is a story of innovation for your ears.theater quality at home? they are looking to pump up the volume. >> this young woman from taiwan is meeting with the head of a hollywood giant, lucasfilm's skywalker sound. quite a feat for a medical student turned entrepreneur just two years ago. >> i was watching "transformers." the picture is so huge, the building falling down. everyone is running around, dinosaurs. it sounded so funny. i was sad about that. >> he is one of the most important in the sound industry and says it will keep the more relevant as more people experience movies outside the theater. >> it is a concern to us if more people are experiencing entertainment on smaller devices. if they cannot hear what we are doing, it is harder to justify doing it in the first place. >> the hollywood sound veteran with seven oscars could not believe his ears. >> what got me excited was the ability it gives people in all sorts of venues, in all sorts of ways, to hear a surround mix. that is exciting. the more people can hear the mi

a busy morning here on bloomberg.g up next. ♪ ♪ this morning, suicide homers are identified in brussels. . third attacker is at large after paris and brussels, europe can not contain terror. credit sweeps cut to the bone. 12% will leave. we consider the new utility bank. francine lacqua and a conversation with our chief executive officer. yesterday, the debate on brexit. bloomberg

bloomberg . futures a little softer here. deep in the red. t 1.5% ♪by >> next hour, robbie reed, global asset managers year joins us on bloomberg . here is your bloomberg business flash. inexpensive oil has been slow to deliver a boost to economic growth. the benefits may not materialize until demand picks up and central banks move away from interest rates that are close to zero. energygest clean developer is facing a possible default. sun edison has posted the release of its annual report twice. if it is not filed, it could be a technical default of $1.4 billion worth of loans. their debt has doubled in the past year to almost $12 billion. the french videogame maker you ubisoft has found a way to -- vivendi. ubisoft has come out with the division and assassins creed. the public face of lehman before the firm went under. he did not speak out until after the collapse. waiting until now to publish a memoir. has read it. what is the story? reasons she wanted to write this, she feels her life is a cautionary tale. street a classic wall persona

here. you can see the sharp rolloff on the bloomberg as rates go negative in japan. follow off a cliff here as we go into negative territory for the japanese curve. we still do not understand the impact of what this is doing to the global economy yet, do we? matthew: this is why bankshares have been successful this year did -- this year. very challenging. the margins are under immense amount of pressure. japan is no different. it is not a lack of supply. it is not that banks are not trying to land. they are over lending. areaid negative rates causing banks to overextend credit. it is happening in asia and australia. they are forced to compete for market share because the japanese bank in australia has very low margins. the global economic picture you'd it is more creating -- is creating more uncertainty. question, the idea that markets are basically not getting clear signals or investors are begging for signals and then reading too much into one thing. does this notion of payroll being this big signifier, is that diminishing overtime? should guy and i stay late to se

that's it fro"bloomberg west" here from san francisco. ♪ ♪ >> this program is a paid presentation for you by great health works. ♪ larry king: welcome, i'm larry king, and i'm here to help on an inveig

coming up on "bloomberg markets," the close of trading is just minutes away. and here major averages. ♪ vonnie: this is "bloomberg markets i'm vonnie quinn -- bloomberg markets." i'm vonnie quinn." your -- earlier we spoke with jim tierney and asked him where he sees the market going. you look at the economic reality, it's tough out there. it's slow growth. look at the companies with their -- motors, their own value their own drivers to create value. >> you notice expectations of inflation that may not be where they should be. this is a 10 year breakeven. it basically shows us what investors expect things to look like over the next decade. it certainly has come up on the lows since february 11. the average component was basically the weak link. do you believe that anti-inflation is a bigger risk than what's being priced right there? jim: whether it is search jets tickets,y, it's all moving higher. if oil gets back to 60 or $50, ultimately there will be real inflation in the marketplace that is not being appropriately reflected. wereat kind of pricing pie to the manufac

here's the best part... you still own your home. take control of your retirement today! betty: live from bloomberguarters here in midtown manhattan, you are watching bloomberg markets. let's check the headlines with mark crumpton at our news desk. marcoflorida senator rubio says ted cruz is the only true conservative left in the race for the white house. rubio made the comments to minnesota supporters during a conference call. rubio did not and jordan -- did not endorse ted cruz or john kasich, but he says he hopes one of them starts -- stops donald trump from winning the nomination. five deputies have been put on probation for their actions at a campaign rally for donald trump. the osha is a man being struck in the face by a white man and the deputies had their eyes on the stairs when the man was struck. the suspect has been charged with assault and disorderly conduct. securerequest to issue a smartphone to then secretary of state hillary clinton was denied by the national security agency according to newly released e-mails. one month later, since clinton began using private e-mail account access

bloomberg businessweek." in this week's issue, reinventing ge. let's go meet the editor. ♪ carol: we are hereh the editor of "bloomberg businessweek," ellen pollock. in the global economic section, you write about a capital mystery. meaning capital expenditure. ellen: we look at why companies are investing less in software tools, the percentage of total investment on an annual basis is down. and so we treat it as a sherlock holmes mystery, complete with an illustration of sherlock holmes and we look at why that may be. it is partly because some people because corporate taxes are too high. it is a variety of reasons. it has led to stagnating wages, stagnating standards of living, productivity down. carol: not helping productivity. ellen: economists are trying to figure out why that is. there is the possibility that companies are returning money to investors rather than buying equipment. but, it is a problem because it has added up to slow growth. david: a story involving online defamation, dune lawrence writing about how she was defamed online. that is one of your reporters here. ellen: this i

bloomberg "surveillance." right now, here's remy.: it's primary again republicans have four states. is michigan. hillary clinton leads in michigan by double digits. bernie sanders is doing better with younger voters. justin trudeau says donald trump may turn -- 10 down his rhetoric. he meets with president obama this week. he suggested the things trump needs to win the nomination are tongs you won't say resident. a magistrate ruled last week that apple did not need to cooperate. they have helped the government on leak -- unlock iphones in the past. tomakers are considering give police more power to fight terrorism. there was a bomb in gun attack in the capital blamed on islamic state. the government want police to be able to detain a suspects for up to six months. syria, the u.n. has begun providing food to a rebel held area outside damascus. the cease-fire has made it in to help some of the millions of people displaced. we are powered by our 2400 journalists. thank you so much. concerns over japan's re-inflation program are boosted

we have greg stohr, the supreme court reporter from bloomberg here to break it down a little bit moretell us a little bit more about judge merrick garland. tell us about his background and personal story. guest: he is originally from chicago. president bonded over that yesterday in the nomination. he has been on the federal euros court in washington for 19 years and prior to that he was a prosecutor and left a job in private law practice to become a prosecutor. the most notable part of his career, he oversaw the investigation and prosecution of the oklahoma city bombing as well as the unabomber trial. he talked a little bit about how his experience has shaped him yesterday. talk a little bit about that experience, being a prosecutor and dealing with victims of crimes. guest: he talked about a number of things, talking to witnesses. i think he described them as mothers and grandmothers and try to convince them to come forward to cooperate and testify against people. the veryalked about moving experience of being responsible for making sure that prosecution of the oklahoma city and that

bloomberg's coverage. janet yellen's news conference follows at 2:30 them here on bloomberg tv. ming up, we will hear from marvin ellison on how he's turning jcpenney around. here's a quick look on how jcpenney has performed against its peers. it is far outpacing me see -- macy's and sears. quite a comeback there. ♪ alix: this is bloomberg markets. i'm alix steel. a night mayor day for drug company valeant after the company reported a week first ofrter,/guidance and warned the possible default. the ceo just back from medical leaves oak on the earnings call. >> it starts with me. we obviously have to deliver on our commitments. the world has changed to some degree since december but we have to do a better job. we have had some underperforming businesses and that is on us. have to earn back the credibility and deliver on our results. we have to meet or exceed guidance and i think we all recognize that. isx: he says the company already looking forward to cutting costs. >> we've taken steps to restructure a number of our underperforming small businesses and are taking steps to launch