brendan: amen. hearing tom keene and his twitter handle , say "tap it back" may be the highlight of my weekend. tom: i have to admit i probably have to go try this. brendan: please bring a camera. leslie picker says please bring a camera. tom: can i run this on the bloomberg expense account? i will talk to my american express senior vice president about that. brendan: for most of the segment, tom was making his "i play hockey" phase. tom: i do not get it. maybe i will go to john tucker on bloomberg radio. it is a friday and there is a lot of laughter about soulcycle. there is some damage in this commodity route here in there will be second and third order beneficiaries with earnings coming out of chevron and exxon. the bank of russia said earlier this morning, flat out, this bout seems to be different than it was in march and april. brendan: you have a soulcycle class you need to go to? tom is going to radio. soulcycle will continue. in puerto rico they have $58 million due to be paid tomorrow augus

brendan: absolutely not.lor has a good relationship with him and she knows that the hardline he took is incredibly successful in germany. tom: he stayed in a less fancy hotel then you used to stay in. jeff is dealing with this integration, it is a lot easier to integrate within a euro system than a french franc or swiss franc or deutsche mark. >> i think that jeff is being challenged with the deal. in the u.s. he is moving forward and selling appliances and trying to streamline the portfolio and the greeks were put on that. and we see at&t getting approval for a $49 billion deal. who is making the decisions. tom: you are benefited as an industrialist by a combined euro. >> the deal is spot on relative to the turbine business getting the benefit of a much more global footprint. a big install base, great capabilities. i said before that steve would do a great job. tom: we will come back and we will review general electric's new plan. coming up -- an important conversation with chris dodd. he is now in the movie

-- brendan? brendan: a european parliament debate went viral.he former prime minister of belgium scolded alexis tsipras and made the classic liberal case on how to fix greece. he joins us now. you discussed a vision of a reformed, functioning greek economy. does this agreement get us there? >> partially, i should say. it is not perfect what is on the table now, but at least for the first time, the greek government is agreeing to do a number of structural reforms, a system organized by the political parties in greece. also starting by abolishing a number of privileges, like is the case for shipping, the trade industry and for the greek islands. so it is a start. it is a start, and what is more important, we can fix now the greek economy and greece without greece going out of the monetary union. brendan: from your perspective what is the most important part of the agreement, the structural reform or the promise of future austerity through pension reform? guy verhofstadt: the most important is now structural reforms because we got already all the a

joining me, vonnie quinn and brendan greeley. brendan i do not even know where to begin. we could do the washington bit or greece. i guess we start with greece. brendan: "takes no prisoners," really? do they pay you to do that? that's amazing. it is unresolved. we can all go home now. tom: i don't think so. it is 90-something today in new york. ian bremmer joins us in the next hour. michael pond in the next hour. -- michael pond with us in a bit. right now we start with vonnie quinn. vonnie: good morning. greece has made the deadline it could not afford making payments totaling $7.4 billion to a number of creditors including the imf and the european central bank. greece got a bridge loan after its parliament agreed on new austerity measures. greek banks reopened for the first time in three weeks but there are limits on withdrawals. angela merkel says that is one of the reasons bailout cost need to go quickly. merkel is also suggesting greece get limited that bullies, but she will -- >> debt forgiveness at 30 to 40%, that cannot happen in a currency union. it can happen ou

♪ brendan:ood morning and welcome back to the bloomberg market day. erik: julie hyman is here looking at some of the biggest movers of the session thus far. julie: i wanted to look at some of the biggest winners and losers. netflix is far and away the biggest winner, of 11% after reporting earnings and subscriber growth that exceeded analyst estimates. and nowlion subscribers getting 31% of its streaming revenue from international sources. that is something investors have been banking on, the growth of the company internationally. it expand the last quarter to new zealand and australia. it is now planning to offer the service in japan, spain, italy, and portugal later this year. more international growth is expected as a result of that. we have seen blockbuster growth this year. you are looking at the s&p 500 ranked by returns for the year, in terms of stock performance. netflix is at the very top including today's games, up 124% for the year to date. more than double the second-best performer,

if it has to be any team brendan brendan: -- brendan:[laughs] not trinidadiann?l reported results this hour. we will go straight to betty liu, who had an interview with that ceo. betty: that is right, andrew liveris, ceo of dow chemical, joining me this morning. andrew, great to have you with us on bloomberg television. first off, lower oil prices we know is including profit ability, particularly in your operation let's say in europe. do you excited to continue in the coming quarters? andrew: hi, yes betty. thank you for having me. for us, it is oil to gas ratio that matters or three quarters ago, we had a lot of people thinking that equity price corrected because they thought low oil would be bad for us. what of course is happening as it is giving us competitor advantage in locations like europe. what is also happening on the demand side, our operating rates is in the 90% range now. that is mostly because demand is picking up as low oil prices go into the economy. there he true in europe and now of course really happening in the united states. it took a while he

brendan: yep. vonnie: looking for the call to develop what management is thinking about, or charter and the measure. tom: there it is on time warner cable. we will get you started and go to the fed. first, our top headlines with vonnie quinn. vonnie: if that is dropping hints there is almost enough improvement in the job market to start raising interest rates. policymakers arcs rising satisfaction with progress toward full employment. they say they need to see "some additional gains before the first rate hikes" since 2006. economists surveyed by bloomberg expect to raise rates by september. the first big break in the search for the malaysia boeing 777. debris washed up on the french island in the indian ocean. it is not clear whether the wreckage is actually from bat malaysian plane. it went missing in march of 2014. in cincinnati, a white university police officer has been charged with murdering a black man during a traffic. a body camera video show the officer talking to the man just before the s

brendan: marginally.shapiro up bookings -- of brookings -- recent polls have generated -- tom: i was speaking to l mayors come and he noted that brett there will be doing that. can you envision donald trump up there with jeb bush and the others yet i cannot get there. brendan: he is going to turn jeb bush into an equivocating, quibbling -- i think it is fascinating. i like this read. what people want more than anything is some display of strength. we can look at these plans and we can say i think objectively that many of them are absurd. the solution for iraq is to encircle it and take the oil. it does not sound plausible. that does not matter. plausibility is irrelevant. he wants strength. tom: let's go to michelle meyer. i understand that your leadership will fire you directly on this so we are being careful up here. within the research of does politics matter to the markets i have gone back and forth for decades on this. where is michelle meyer? michelle: when it comes down to the substance, he he is t

brendan: mr.alsh, we do know for a month that negotiators indiana have been looking at the actual technology underlying this agreement. what assurances from a technological standpoint do we have that a nuclear program has been stalled? jim: part of it is what the agency is able to tell us by on-site inspections. it means that all the spy agencies in israel and u.s. and france and great britain and canada among them have, as they put their eyes and iran. the director of national intelligence has to survive that under the current agreement, and certainly the new agreement is more stronger and robust, but under the current interim deal, iran would not be able to play cna ends -- shenanigans with centrifuges without detection. that agency will have 24/7 access to these facilities. there are limits to how many centrifuges and limits on the amount of nuclear material they are able to keep. these are all things that should give us confidence that iran is abiding by the terms of the agreement. brendan: i

here is brendan. brendan: in the newly nikkeied "financial times." starting point for any solution to the greek crisis should not be to ask who is to blame. better than non-sentimentalism -- better than non-judgmentalisnm of st. luke's gospel. geoff dennis is with us again. is there an understanding in europe that creditors face a moral hazard? geoff: yes, i think there is. without any question. what we think is one of the issues as far as europe is concerned is the fact that all of the adjustment being forced -- all of the adjustment is being forced on the deficit countries, the countries that are under pressure. you would like to see more pressure on the surface countries such as germany, holland, to expand the colonies. but if they put more money toward greece, which is what is happening, there will be potentially the demand to do the same thing for other countries down the road. that is the risk of this whole crisis. brendan: did you see that same moralizing tone that john k writes about? geoff: schauble, within the german government, then you ha

brendan: good morning. we are 90 minutes into the trading day in new york so let's take a look at how markets are doing now. there is a

brendan: ok.ovetail into a interest rates, to what the fed is doing, which after that earnings -- earnings are very important, but if you have this macro economic fog, it will be very hard for the markets. brendan: all right, we will try to cut through the macroeconomic fog here on "surveillance." sarat sethi from douglas c. lane, thank you for coming in. "bloomberg surveillance" continues on radio. up next on bloomberg >> live from bloomberg headquarters in new york, this is "market makers." stephanie: good tuesday morning. you are watching "market makers ." i'm stephanie ruhle. matt: i matt miller. erik schatzker is on his way back from greece. stephanie: in this hour, we would take you on a world tour. matt: companies mentioned include apple, disney, ibm, samsung, and starbucks, so stay tuned for a packed hour of news. stephanie: we have a lot going on. i want to kick it off with the top news stories of the hour. european leaders are running out of patience with greece. i will say that is an un

[brendan yawns] brendan: are you going to do that to me vonnie?e have to turn from killer robots to pharma. exit celebrex, enter e brands. pfizer reports at 7:00 this morning. merck does, too. we are not going to talk about killer robots. we are going to talk about looking at pfizer. are we looking at allergan, what is left of that business? does pfizer want botox? >> that is a very interesting idea but i think for pfizer the bigger priority is getting more r&d and deeper in the pipeline more along the development stage. pfizer is preparing to potentially split the company in two. they added high spirit, and that business is large. they need to add on to the innovative part of the business and add more growth, find more compounds to come to market. allergan is an interesting idea, but i do not think it is quite what they are looking for right now. vonnie: will they be able to make it up on -- cynthia: this is i think the first full quarter of -- it is going to be a popular drug for breast cancer. they are doing a collaboration with merck. they are

brendan: on a rainy day, go to cash.o when the sunshine's -- when the sunshine's -- but also when the sun shines. you are seeing tracking on the white, that is an index. the graying in the background is the cash they said they are holding in surveys. in the past when equities go down, cash goes up. now we have equities up and cash up. tom: there it is. it is a rare occurrence and also an important rule when cash builds up. you usually end up putting this to work. we are fortunate, and this is robert doll's absolute and total wheelhouse. michael hartnett, worship that bank of america -- we are not at 7% cash. by prospectus, long only manager's have to be in equities. so 4% cash is a lot of cash. bob: it is a very big amount of cash. there is caution everywhere. tom: when you are on the road you feel that caution? bob: absolutely. it is deer in the headlights and also caution. i do not understand the world where the market is up a lot, i have this cash, i feel like i have missed it. bull markets end whenever but he says wh

brendan: it may be up for sale. tom: we will have much more on that but let's get to our top headlines -- vonnie: the bloomberg commodity index is lower than it was during the hanging meltdown. new york oil is hovering around the $50 per barrel mark which is the lowest it's been since april with speculation the global oil glut is not going away. the greek exit from the euro may be back on the table next year. almost 0.75 percent of the euro says they will be out of the euro in 2016. the bailout package should be too small. a newspaper and i will his race for the residential nomination. the des moines register calls him names. he commented on immigrants and make comments about john mccain. he has surged into the lead for the republican nomination. a new poll shows he is the favorite of 24% of republicans and those leaning that way. nike has given ceo mark parker a stock or that is 10 times higher than what usually gets. he has restricted stock with a target of $30 million but he gets it if he stays with nike another

brendan: thanks.on the desperate there is a thomas friedman argument saying that you can judge the quality of a nation by the quality of its airports. when you look at laguardia, and you agree with that argument? peter: we clearly need to improve that airport. across the country, we can do a lot better. there are 170 bridges in new york city that are 100 years old. the key question is what we were discussing before -- art user fees the most efficient way to pay for infrastructure? we should have played someone to way that that airport when it is really crowded. they should pay a lot more when there are no other planes that want to lead at the same time. it helps to sort things out more effectively. same things on highways. the hamilton project put forward an interesting idea. why did we not have a gas price that reduces the swinging oil prices? it's bigger when gas prices are low and smaller when gas prices are high. it makes a lot of sense. brendan: you talk about the boring work of fixing bridges an

brendan: 7 billion is not 50 billion. i think there is jousting about power within the european union. now the eurogroup finance ministers are getting together and saying weight approve it. it's a power struggle weight will talk about. tom: we need to catch up on the top headlines on greece. vonnie: early this morning in athens, the greek parliament gave alexis tsipras the victory he needed. lawmakers approved a package of pension talks and tax hikes. those had to be passed before greece could get a bailout that might deliver $94 billion in aid. tsipras argued for the plan from the parliament floor. mr. tsipras: during these past five months, we have fought hard. in view of this struggle, which had omissions. i take responsibility for this. i am not walking away. vonnie: the eurozone responded. officials had agreed in principle to give greece a 7.6 billion u.s. dollar bridge loan until the bailout. president george h w bush has been hospitalized in maine for a broken bone in his neck. mr. bush sell at his home. he is 91.

brendan: i am brendan greeley. pimm: and i am pimm fox.t how markets are trading right now. the s&p 500 adding nearly 1%, up 18 points. the pricebidding up s

brendan: yes. everything is worthwhile on this show ♪ tom: futures are up 19 and dow futures are up 131. vonnie: there was an historic vote in south carolina early this morning. the house of representatives joined the senate and agreed to remove the can render it flag from the capitol grounds. this came after more than 13 hours of debate. the movement picked up momentum when i'm black church members were killed in charleston and one was a south carolina state senator. the largest u.s. aluminum producer, alcoa, posted second-quarter earnings that missed estimates. it's thanks in part to a rise in exports from china. they also cut its forecast for sales in aerospace and the chinese market. you can now have taco bell ring your bell as they start home deliveries. it is using a delivery company called door dash which costs $3.99 plus tips. tom: let's look forward to what we've got or us this morning and in this hour, we will look at pepsi earnings. we will do that in a bit and of course looking at stock

brendan: this is "bloomberg surveillance." i am brendan greeley with tom keene. sachs, we're looking back at a week of bangor earnings. we have bloomberg's michael moore to sort this out for us. what do we know about banks that we did not know on monday? michael: the banks are still waiting for higher rates, still waiting for activity so the ones that did well are the ones who showed cost control. brendan: basically treating the bank like a widget manufacturer. michael: pretty much. tom: within the conference call, are they waiting for drew mattis'us' economy? with us, drew matus of ubs. if we just get a better economy, things will work out. michael: yes, and there was some optimism on sides of that especially on the consumer side, consumer spending picked up, mortgages held in, lung growth better than expected, so there are some signs of that, but until we get higher rates, there is not that -- tom: within your research and you are good going across the banks, if we get the rate rise drew says this will clearly benefit confidence, which will benefit the economy.

brendan: mine is in d.c..ill be speaking to the senate today are doing in favor of relaxing encryption. phil mattingly joins us from d.c. to help us understand what is going on. what are the constituencies in d.c.? >> law enforcement in the white house. this is a huge issue that has been bubbling since google and apple last fall changed their operating systems in a way that law enforcement can no longer get a warrant and ask those companies for decrypted data. those companies in the wake of edward snowden have made it clear they are not willing to negotiate with the government on this. there have been a lot of behind-the-scenes closed-door meetings at the white house to figure out and middleground solution and nothing has been discovered. this hearing will blowout everything into the open. everyone will need to pay attention in the months ahead and it is not just a minor squabble. david cameron has talked about this. president obama has talked about this. they talked about it in terms of something with no solu

brendan: go terps.ave a third problem -- the problem of a humanitarian catastrophe in greece if this is not resolved. what can the commission due to address the human problem in greece? valdis: european commission is certainly ready to stand with the greek people. we are setting up a new group to work to ensure that greece gets eu budget support and uses it as effectively as possible. there are lots of means available also to deal with the social problems. vonnie: minister, you were prime minister of latvia for a long time. you're overseeing social dialogue in the european union. it's a dialogue and connections get too poisonous, what is to become of europe? valdis: it is quite clear that the outcome of the referendum is certainly, has not improved goodwill towards the negotiations. it is still important that we overcome this. that we sit together and find a joint solution. but for this it is important that all sides, including the greek side, behave responsibly. responsibly understanding all the diffic

brendan: good morning. pimm: we are 90 minutes into the trading day in new york so let's take a look at how markets are doing now. there is a little bit of give back in stocks. not much movement in the s&p 500. you see the gain in the nasal act and that would be a reflection perhaps of what is going on with the google shares today as well as what's going on with netflix stocks because of the earnings. brendan: we will get julie hyman into explain the google shares. pimm: let's take a look at the dollar. -day strength against the dollar. brendan: this is against everything. wondering -- the pound has been strong against euro and has been gaining some strength. brendan: when you look at equity indexes around the world, the consistent and you have seen is that the only good news as u.s. news. pimm: if you are doing everything in oils and oil is $51 per barrel, that is dollars. brendan: german lawmakers have voted in support of a greek aid package which is a fictional or -- which is a victory for angela merkel.

there are about 18 beds -- 18 beds that feature brendan greeley today. -- 18 op-eds that feature brendaneley today. this is a superb sessay. from roger cohen. tom: i thought of you, brethren the moment i looked at this essay. give us your perspective -- i thought of you, brendan, the moment i looked at this essay. brendan: the most important part of that piece is the question by robert cohen himself. -- roger cohen himself. what is german's role internationally with itself? this is the problem, that germans are very reluctant to feel guilt about this. they have dealt more than any other nation with the concept of guilt. even though it was german hot money that went to greece, french hot money that went to greece, they do not think that any of this was in any way their fault. they are unwilling to feel guilt about it, and if you cannot feel guilt, they cannot negotiate. they are not having a german discussion about the overall -- tom: i did hear france versus germany. france was out front in trying to get reese some form of different deal. what you are reading over the last 48 hours, do y

♪ brendan: good morning. i'm brendan greeley. pimm: and i'm pimm fox.et's take a look at where markets are trading right now. u.s. stocks a little higher, s&p 500 gaining half of 1% there, of over 13 points, of course, we are starting to get into the thick of earnings. netflix earnings, ebay earnings and so on, we will be paying attention to market moves. brendan: the only sliver of red in that movement is the materials and paint, things like that. pimm: that's a sliver? brendan: you did know that? that's a measure of the s&p 500. [laughter] pimm: taking a look at the euro there, down 100 902. as we are focused on athens, berlin, brussels, we need to keep in mind that mario draghi is continuing a monetary policy of 60 billion. be the bigger story as the euro slowly drops this morning. i spent six months reporting on the market. eight handles? pimm: that's impressive. you know what else? david is in athens. as bring him in. david: obviously a big issue here has been the fact that banks have been closed for two weeks here and it is a sign for mario draghi

brendan: i am brendan greeley. pimm: and i am pimm fox. let's find out how markets are trading right now. the s&p 500 adding nearly 1%, up 18 points. the pricebidding up of stocks, as well as bidding up the price of the euro. take a look at the dow jones industrial average, a gain of more than 1%. brendan: rallies in the european stock indexes are more hesitant than what is happening here. here, once the risk is off, we can go ahead and party. a lot of hesitance. pimm: the euro, where are we? brendan: i would describe this as nonplussed the -- nonplussedness in the euro. we did not get the pop i would expect. pimm: nonplussedness? brendan: a technical term, clearly. have yeth greece, we to reach a deal. alexis tsipras agreeing to creditors demands. now he needs to get the sign off from his parliament. brendan: the ecb is waiting for greek lawmakers to approve to recapitalize banks. that could come this wednesday. olivia sterns is in athens. olivia, what is the most important development right now that athens is waiting to come out of bruss

brendan: good morning, i am brendan greeley. pimm: i am pimm fox. we are 90 minutes into the trading day. stocks, a little bit of buying today compared to yesterday. the s&p 500 gained about .3%. maybe people are digesting all of the details of what is going on in iran and china. brendan: who knows what the story is? have a lot of conflicting bits of information. brendan: you can say that these things have been much wilder on iran and grace, where it means more for the economy. the u.s., everyone looking at interest rates. let's take a look at some of our top headlines at this hour. after true years of difficult diplomacy, there is a deal on iran's nuclear program. negotiators into the end announced an agreement this morning. the deal is designed to prevent iran from building a nuclear weapon, and in return comparable powers will lift economic sanctions. but president obama and republicans in congress are already at october the deal. >> i have no doubt, 10 or 15 years from now, the person who holds this office will be in a stronger position with ira

brendan: it answers what and where.it is a recreational user, they can find it on a friday night. the second company operates primarily in canada. there is a very different system. give a federal license and operate one of the largest federally licensed medical cannabis grows in the world. it is pharmaceutical grade. we ship using the canadian model. we ship hundreds of packages every day directly to patients from a 60,000 square foot facility in british columbia. the third company is marley natural. we did this in partnership with the family of bob marley. it is a retail cannabis brand based on the jamaican cannabis strains that we will launch this year. topicals and lotions, jamaican cannabis strains, and a line of accessories. either to consume cannabis or store the product. jeff: what are the marley's like? brendan: there are 11 children and his wife rita. they had been approached by lots of people over the years to launch a brand in the space. they came to us about two years ago. it was an obvious deal. you cannot

brendan: it answers what and where.s a recreational user, they can find it on a friday night. the second company operates primarily in canada. there is a very different system. give a federal license and operate one of the largest federally licensed medical cannabis grows in the world. it is pharmaceutical grade. we ship using the canadian model. we ship hundreds of packages every day directly to patients from a 60,000 square foot facility in british columbia. the third company is marley natural. we did this in partnership with the family of bob marley. it is a retail cannabis brand based on the jamaican cannabis strains that we will launch this year. topicals and lotions, jamaican cannabis strains, and a line of accessories. either to consume cannabis or store the product. jeff: what are the marley's like? brendan: there are 11 children and his wife rita. they had been approached by lots of people over the years to launch a brand in the space. they came to us about two years ago. it was an obvious deal. you cannot thin

brendan brown executive at mitsubishi.hat brings us to the question should china be trying to stop the shanghai market from falling? should the government be taking any policy action? you might agree they were not quite as active as when the stock market was on the rise. 6:23 here in london. let's move on to a fascinating story, consolidation and health insurance industry. in the united states aetna is nearing an agreement to buy humana. the deal could be announced as soon as this weekend values you monitor at $230 per share. that is a 23% premium at the closing price. here with more why is humana and acquisition target? >> it is basically because it has a big presence in medicare advantage. this is a private sector version of medicare. and medicare is when the fastest growing pieces of the health insurance market. that is because it is designed for elderly people and is elderly elderly people turning turning 65. membership is growing. that is providing an opportunity for private insurance. humana is one of the biggest sup

brendan: micron technology may be in place.re running a $22 billion business as a semiconductor. we're looking at potential national security and regulatory roadblocks. ♪ brendan: good morning. i am brendan greeley. erik: i'm erik schatzker. brendan: we are looking at what is making news on the bloomberg terminal. we start with iran. that deal

three, three people have to die from seizures tonight for brendan haywood to get in the game.i don't have time for this. i got to catch connected flights to my seat. >> all right, later. >> later, y'all. ♪ i got bad news, jimmy. one of the surfers died on the way up. it's a common thing that happens at this type of altitude. ♪ what the [ bleep ]? why am i going back down right now? ♪ >> warriors! >> yeah! >> i hate them. >> go, warriors! >> is it contractually obligated for everybody that sees a camera here to yell "warriors" at it? i was rooting for the warriors, but now that everybody's yelling at the camera it makes me want to be a cavs fan. stop being obnoxious. >> warriors! woo! >> yeah, warriors! ♪ >> look how close the [ bleep ] roof is. when they ask us to raise the roof, we're going to be the ones doing it. the roof is right there. finally made it in time for halftime. jimmy, i'm wore out. they say summiting is the hardest. at least i'm center court. how do you feel about being so close to the roof? do you see how close we are to the roof? we're closer to the roof tha

in june of 2014 brendan tevlin called his mother to tell her he was heading home from a friend's houseever arrived. alli mohammed brown pulled up at new jersey intersection next to brendan and allegedly shot him multiple times in the head. the suspect reportedly telling police that the killing was retribution for military action in the middle east. ted is on the panel and he is back. i have spent time with the parents of this young boy this college student and you know, the cruelty of this, of course, all murders are cruel but this one is cold and heartless. not unlike the woman who was shot on the pier. >> but greta, when you think about it, this was a young man who had everything going for him. a freshman at the university of richmond, come home. and he is killed in a very senseless manner by this man who says, by in essence that he is doing it because of the military actions in the middle east. and the one thing you get out of this more than anything else and i wish it would happen to this man brown says a life for a life. well maybe perhaps it should be brown's life should also be

brendan.a future. >>> meantime this week we caught up with some big-time athletes at the sports matter summit. here's the captain of the u.s. women's soccer team carli lloyd, talking about wearables. >> i have a an apple watch, i'm starting to play around with it it's pretty cool, i'm enjoying it i'm pretty active, so having the fitbit or whatever, i would probably blow it out of the water, the numbers. but i think it's really good for people to be able to say to themselves, okay, instead of taking the elevator, i'm taking the stairs and be a little bit more proactive and active. >> the number one pick in the nba draft, carl anthony towns, is not excited. >> i run so much. there's no reason to track it for me really, no, i'm not really big on the wearables. i do like the samsung watch a little bit. and-day like you know i just love, i love the samsung galaxy s 6 edge. i'm big on that. >> just wait until those endorsers get to him. >> see how much -- was that a paid endorsement? it was not a pa

brendan: a hard decision to make your a homeowner. you have to buy a home.ou've talked about how dangerous it is to have the price of the home be such a huge part of a homeowner's portfolio. do you see that danger rising? robert: they are going up. some cities, fast. it is aknow that bubble. dallas is a great performer this time. there is some excitement going on -- dallas is booming and corporate headquarters are moving in. there is a bit of excitement. that can generate over excitement. vonnie: it takes months to buy a house. there are so many people involved. completely ripe for disruption. robert: real estate has emerged as a major source -- the financial crisis came in in 2007-2008, type into a bubble in home prices. that has not been a pattern for the united states. using disruptive market. -- it is a disruptive market. mark: coming up, the tables may have turned when it comes to the resurgence in vinyl records. scarlet: there is a great cartoon in the new yorker where ae guy is showing off turntable to a friend saying the two things that really drew m

brendan: opec can never get its pricing powerback?nted to cut supply and make sure everyone else commits to cutting supply, they could have some power, but not as much. their power has been reduced over time, but there is still a significant amount of power that saudi arabia has. if they decided to cut production, the oil price would not collapse as much as it did. just not only for putting its enemies like iran or russia, but for economic reasons. overdecided lower prices time means you will get rid of the high-cost producers. it's a rational decision when you are trying to reduce prices, weeding out the high-cost producers. they're still talking about cutting costs even though there is this massive write-down. do we could that changing as the fed begins to hike rates? what does that do? >> china is slowing down and commodity prices are falling him and like any value in currency, commodity prices are slowing down. the response running slow down in growth of inflation is to boost the economy. even though the fed is going to -- is not,

joining me, vonnie quinn and brendan greeley. brendan i do not even know where to begin. greece. i guess we start with greece. brendan: "takes no prisoners," really? do they pay you to do that? that's amazing. it is unresolved. we can all go home now. tom: i don't think so. it is 90-something today in new york. ian bremmer joins us in the next hour. michael pond in the next hour.

with me vonnie quinn and brendan greeley. jpmorgan with that report out 15 minutes ago.. brendan: what i think is interesting is that alexis tsipras has actually consolidated control, so what greece has going for it is a functioning democracy. tom: he has to take a victory lap given what was observed over the last -- brendan: oh, i do not know if it is a victory lap. it is not one of the things that the olympic where you

brendan: 7 billion is not 50 billion. is jousting about power within the european union. now the eurogroup finance ministers are getting together and saying weight approve it. it's a power struggle weight will talk about. tom: we need to catch up on the top headlines on greece. vonnie: early this morning in athens, the greek

i'm tom keene with vonnie quinn and brendan greeley. brendan, what are you focused on this morning?s significant. the shanghai composite has dropped more than that china's index. the industrials are suffering more right now than the smaller companies that were suffering in the drop for. tom: many of them down as much as 10% this morning. we will go to jon ferro in asia and moments. here's vonnie quinn. vonnie: we begin with china. the benchmark shanghai composite

olivia sterns spoke to ubs bank analyst brendan hocking than michael moore. laned the performance in fixed income trading were fixed. -- hawken explained. >> more of what it is showing is fixed still has a poll. it is real. a lot of investor concern about this is a inability. the results so they can execute here. against toughup comps. turn morean trying to toward asset management and away from the rest year's. that appears to be paying off. >> right. that is a big reason i am positive on the name. you get a firm that used to be securities and shifted over to where it is 50-50 maybe even upwards two thirds wealth and asset management, a higher asset business. we are stable. regulators like it more. -- work outrk out well for shareholders. we are starting to see that happen. what about the return on equity target? when will they hit 10%? question thisbig quarter. not quite getting there but making progress. , butshowed steady progress they will probably need interest rates to pick up or better trading environment to get there. olivia: the first call the new ce

brendan: it did not work. tom: i made it the lunch.tom: vonnie will have

i am tom keene with brendan greeley and vonnie quinn. brendan i guess greece, hans nichols is the most important person. brendan: the action is still in what germany is going to do. the most important conversation is happening between the imf and germany. do we recognize the reality that greece is insolvent? tom: right now we need an update. here are our top headlines with vonnie quinn. vonnie: in greece, the parliament votes on a deal

then there was brendan, par at 18 to make the cut. let's listen to his story. >> pretty frustrating to know i just teed off 18 in 40 miles per hour winds and then they call play. why did we start play in the first place? i finished off but a little frustrated. >> after a ten-hour delay play resumes. he made it on 13. dustin johnson able to get one back with a birdie on 18. he had the outright lead by one shot. as for tiger woods summed it up on 18, basically drove the green, misses the eagle putt. he finished seven over. johnson a shot over willett. because of the delay third round is tomorrow. fourth and final round moved to monday. >>> tonight at 11:00 an ncaa champion a year ago, the story of cameron wilson and his road towards the pga tour. he is playing here in the bay this weekend. >> thank you. >>> next on abc 7 news at 9:00 the bay area police department that hash y made what he said about pursuing women outside his marriage. >> one of the most expensive coffees but it is brewing up controversy. the problem is bigger than wher

brendan: we speak to the ceo of a giant ethanol producer. what has the 50% plummet in oil prices done to his business? an s&pe're looking at that is closed below its 200-day moving average. joe, we had a rally in stocks. we did close off highs of the session and closing below this level is quite significant. a 1% rally in my could not hold onto it. a rally day that faded. joe: it wasn't up day then a down day. at the end of the day you are like, that's really unimpressive. europeans across the indices. france and germany up over 2%. days since our last correction? 1374 days since our last correction. i want to deep dive in the bloomberg terminal to see how long that will actually last. take a look at the s&p 500 compared to its 200-day moving average. we are right around the line at 2051.31. we are below the 200-day moving average and why this is so crazy with a down day yesterday, we should be down today and we are not. that freak doubt a lot of traders. example, we are off closer more than two points. this couldthe nasdaq spell a lot of tr

job number 1 -- to boost middle-class wages. ♪ brendan: good morning. i'm brendan greeley.we have to start with greece today. it's a tentative deal to keep the greece in the euro zone. tsipras capitulates all the demands by its creditors to begin the disc

goes again so goss from a two-footer to five-footer, mad at himself for failing to mark it in then brendanar on 18 to mick the cut. >> frustrated knowing that i just teed off 18 three-peated 16 and 17 in 40 money winds and then they're going to call play. why did we start playing in the first place? i made the cut but a little frustrated. >> i guess. after a ten-hour delay, play would finally resume and oosthuizen left with the five-footer for par. does continue johnson, able to get one back with a birdie on 18. once again he had the outright lead. as for tiger woods, sums up his tournament. drives the grown on 18. long eagle putt. looks good but slided by, 3-putt for par. the cut line as at even par. look at the leaderboard. johnson, six at minus seven; third round tomorrow fourth and final round moved to monday. >>> celebrity golf second round, american century championship in tahoe. charles barkley, tough to watch. the one-handed shank. he used a stable scoring system where the most points win and look at his hip. he needs surgery soon. jaguars kicker leads with 57 points. five points u

then brendan todd.n 18 to mick the cut. >> frustrated knowing that i just teed off 18 three-peated 16 and 17 in 40 money winds and then they're going to call play. why did we start playing in the first place? i made the cut but a little frustrated. >> i guess. after a ten-hour delay, play would finally resume and oosthuizen left with the five-footer for par. does continue johnson, able to get one back with a birdie on 18. once again he had the outright lead. as for tiger woods, sums up his tournament. drives the grown on 18. long eagle putt. looks good but slided by, 3-putt for par. the cut line as at even par. look at the leaderboard. johnson, six at minus seven; third round tomorrow fourth and final round moved to monday. >>> celebrity golf second round, american century championship in tahoe. charles barkley, tough to watch. the one-handed shank. he used a stable scoring system where the most points win and look at his hip. he needs surgery soon. jaguars kicker leads with 57 points. five points up on