investment management at charles schwab.ou are watching bloomberg tv. ♪ emma: this is "bloomberg daybreak." if sprint merges with t-mobile, they may get less access, according to people familiar with the matter, they are considering an all stock option as they combine that would eliminate the need for financing. the majority owner of t-mobile and sprint majority owner still aren't sure if they will attempt the deal. the founder of muddy waters tells bloomberg tv he has a new target, a company based in hong kong. he says he will announce the name of the stock is shorting tomorrow. he says there are a number of companies listed in hong kong. and apple is putting its first major new product in two years at the center of a growing home tech empire. it's the biggest asset yet. she is a siri digital assistant. can be used to control smart home products. stay with bloomberg because we will have highlights from our exclusive interview with tim cook. cancer bloomberg business flash. jonathan: thank you. the fx market, the single curr

, i'm getting to a point, research, every dollar invested at charles schwab by their clients was80 bits of revenues. and 60 billion now it's 3 trillion. and every dollar of -- assets generates 35 bits of revenues. then of the 70,000 -- of the 80 bits of revenues 70% of that was commissioned of the 35 bits less than 10% is commissioned commissions have collapsed that mean there's fewer analysts, no budget for research and when you talk about companies not being visited by analysts, the sell to buy side visits you know people like us, and but the sell side is they don't. >> so this is just a case where wall street you think has it wrong? >> there is no research -- >> they haven't taken the time to dig into it >> yeah, there's research people on rault are salesmen they're not analysts and they're regurgitate well this is what the company earned and this is what ford is doing and general motors is doing and baron had an article two or three years ago recommending that you purchase ford and they're saying it's seven times earnings you've got to buy this company it's great now five tim

today's leaders include charles schwab, comerica, regions financial, all up more than 3%. carl, sara and jon for the start of "squawk alley." >>> good morning. it's 8:00 a.m. in san francisco, 11:00 a.m. on new york city, and "squawk alley" is live. ♪ i'm listening to the kind of music she doesn't like neath she'll never know your story like i do ♪ she wear short skirts ♪ ♪ i wear t-shirts ♪ she's cheer captain ♪ i'm on the bleachers ♪ dreaming about the day that you wake up ♪ ♪ and find out what you're looking for has been here ♪ >>> good morning. jon fortt has the morning off. >> all hitting record highs this morning again as investors shake off the unexpected election results out of the uk antined uncertainty in washington. we're watching the vix hitting a 23-year low. for david rosenberg chief economist, david, are you surprised at the market's constant ability, especially this week, to brush off some big political shock, from comey to may, and reach report heights yet again? >> i think that the market is certainly heading into really expensive terrain, almost pressing

champions for change, a week-long cnn special event that's brought to you by charles schwab. wow.tonight. thanks for watching. see you back here tomorrow. . . . >> to suggest that i participated in any collusion is an appalling and detestable lie. i am not stone called. i recused myself from any investigation into the campaign for president, but i did not recuse myself from defending my honor against scurrilous and false allegations. why don't you tell me? there are none senat

"champions for change," the cnn special is brought to you by charles schwab. >>> i want to show you aut the first pitch after risking his life. pretty good pitch, i thought. david bailey walking onto the field on crutches to very loud applause. although he did not suffer a gunshot wound, capitol police said wednesday that bailey was treated for a minor injury. the other capitol police agent who was on site yesterday when shots were fired was crystal griner, she was shot in the ankle and remains in the hospital on thursday. and we wish both of them the best, they are truly heroes and we wanted to honor them on this program. that is it for us on cnn, we'll see you right back here tomorrow night. good night. >>> this is cnn breaking news. >> our breaking news this morning -- the leader of isis possibly killed in an air strike. we are live in moscow with what the russians are claiming this hour. good morning. welcome to "early start." i'm christine romans. >> i'm dave briggs friday, june 16th, 4:00 a.m. in the east. word this morning isis leader abu bakar al baghdadi may have been killed

sanjay gupta that features highlights from the week, champions for change is brought to you by charles schwabt back. whoooo. you're searching for something. like the perfect deal... ...on the perfect hotel. so wouldn't it be perfect if there was a single site where you could find the right hotel for you at the best price? there is. because tripadvisor now compares prices from over 200 booking sites... ...to save you up to 30%... ...on the hotel you want. trust this bird's words. tripadvisor. the latest reviews. the lowest prices. >>> in the united states, more than 100,000 children live in homeless shelters. this week's hero was teaching in baltimore and noticed a toll shelter life was taking on students and she went to help. meet jennifer cox. >> kids are never going to learn in school. they are never going to be successful if they don't feel good about who they are. i think that's a great answer. children don't have a lot of space in shelter life to truly be kids. they are experiencing very stressful situations. >> what we are going to learn here today. >> the best way to better the situati

. >> some love for the banks and charles schwab getting love. >>> there is a massive story involving the media overseas let's get more information from dom chu. >> brian, media mogul rupert mow gull has to wait to find out if his european footprint can get bigger mourdock's twenty first century fox is trying to buy 60% of sky in london that it doesn't already own. the process looks like it will be delayed for more regulatory skrult any it's the u.k. office of communications or offcom and the cma. offcom raised concerns about scanned dalts at fox now the attention turns to the competition folks and what the potential deal could do to the balance of power in terms of media in the u.k the question becomes could the mourdocks have too much control over the news and headlines given their ownership of other media assets like papers there as well. it's worth noting here stocks of both sky and the u.k. which are closed right now and fox here are now positive on the news sky, again, closed for trading, but the idea here is the u.k. regulators have given at least fox until mid july, july 14th,

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champions for change a weeklong special elnt brought to you by charles schwab.n the names almost right away. first. within a few days, i went from knowing almost nothing to holy crow, i'm related to george washington. i didn't know that using ancestry would be so easy. >>> tonight i want to remember three american heroes -- u.s. soldiers killed in afghanistan on saturday. officials say the soldiers were shot in an apparent insider attack by an afghan army commando. they were all members of the 101th airborne division based out of ft. campbell, kentucky. sergeant eric m. houck was 25 years old, hailing from baltimore. his father says sergeant houck was due to come home next month. sergeant william bays was 29 years old from california and corporal dylan c. baldrich was 23 years old. all were posthumously awarded a bronze star and purple heart. tonight their remains were flown to dover air force base in delaware. vice president mike pence was there to witness the caskets being brought off the plane. that's it for us tonight. thanks for watching. i'll see you right

take a look at this advertisement from charles an investor at charles schwab dug up and tweeted lastber, smart phones can be as cheap as $150. to get a computer, alarm clock, cell phone, video camera. joe: and you can program music and have a keyboard. so many pieces of hardware are now reduced to software. software is eating the world. having said that, i had a lot of those things even though my phone does its job. i do have several of those. at some point, the millennial's won't necessarily have as many. julia: maybe i am old. older,: as my kids get they are not going to have some of those things. for more on deflationary influence, let's bring in the wells fargo manager of research and a u.s. senior economist. jennifer, let me start with you, because one thing everyone is pointing out is that wireless carriers are now offering unlimited data. they are kind of undercutting each other by offering free plans. they basically say to the customer, you can have service for free for one year if you stick with us. they want to the of undercutting each other by offering free plans. they bas

champions for change, a week-long cnn special event, is brought to you by charles schwab. of the most emotional parts of tonight's congressional baseball game. a capitol police officer who risked his life responding to wednesday's attack on republican baseball program threw out the first pitch. pretty good pitch, i thought. david bailey walking onto the field on crutches to very loud applause. although he did not suffer a gunshot wound, capitol police said that bailey was treated for a minor injury. the other capitol police agent who was on sight yesterday when shots were fired is crystal griner, she was shot in the ankle and remains hospitalized on thursday. and we are wishing her the best. both of them, the best. they are truly heroes. and we wanted to honor them tonight on this program. that's it for us tonight. thank you so much for watching. i'll see you right back here tomorrow night. good night. i feel it every day. but at night, it's the last thing on my mind. for 10 years my tempur-pedic has adapted to my weight and shape, relieving pressure points from head to to

charles schwab and raymond skwams as well up 11%, 13% when it comes to traders and what's the biggest influence, we asked guys on the floor of the exchange this is what they said, tech or financials take a listen. >> the most important sector was last year as well as the financials >> financials will be the sector to watch >> if you can get the financials working back in, particularly if there's a hint of deregulation, i think then the whole market will pull together, and we can see new highs. >> that's the debate tech or financials a lot of floor traders say financials back to you. >> major averages have had a nice run the dow and s&p 500 up about 8%. the nasdaq up 14%. i would take that, retire, fine, good year right there. how should you position your portfolio for the second half? joining us is mike lashini and david frumpleman with riverpoint capital management let me start, mark, with you and what sticks out in your analysis for the second half of the year is that you think energy is going to be a much better performer than it was in the first half why do you say that? >> i thin

impact, dan saw zukie of merrill lynch, and jeff klein chief global investment strategist at charles schwab> jeff we get the core ppi number above 2 and steve lays it on us how the long-term year-end projections are coming down. what's right >> well i think probably both right. we know we've been in a little bit of a rebound in some of the inflation numbers which have been depressed but the truth is, the long-term outlook for inflation is still not getting out of hand. we don't have the xasi itcapaciy issues to push up inflation. we're in a global environment of slack capacity that means the fed can continue to go slow and even more interesting, carl, maybe china doesn't have to match the fed this time. remember, china hiked rates twice in the first quarter matching the fed's 25 basis point rate hikes they may not go this time. good news for emerging markets >> good point, jeff, on the china and goldman. dan, what sort of tone would the fed have to strike or what could they say that would upset the markets here >> we're kind of right in line with what steve was mentioning in terms of his su

joining us now is kathy jones, chief fixed income strategist for charles schwab and company and lou breenrw trading group specialist lou, after the fed announced it was raising rates yesterday. the markets wobbled a bit but closed higher. this morning things are under pressure what do you think happened >> i think the pressure this morning is as much as there is, we're not down a half percent or so >> 70 points on the dow, 14 on the s&p. >> so it's not nothing, but nothing significant yet. i think that had more to do with trump and mueller than the fed the one interesting thing with the fed is that they were a little less concerned with the recent decline on the core inflation measures than i would have thought they said they will keep an eye on it. janet yellen was very willing to look past it in her press conference the ten-year note is not that's a mixed message that we're getting. the fed showing themselves more hawkish, but the ten-year having none of it because inflation and inflation expectations is the key to the ten-year note right now we're reversing that whole trump inflation t

today's leaders include charles schwab, comerica, regions financial, all up more than 3%.

. >> what's a name like charles schwab doing on your list?enerally we stay away from financials but charles sha rachs an ideal asset manager. if you're an investment manager with under $1 billion you probably want to be under their roof for compliance and trading. interest rates go up, they're move higher. >> you think we'll go back to energy at some point? >> i do. we had this news about qatar and its neighbors and yet the stocks had an initial sell this morning and they started holding up. we joke about wonder woman, batman and robin with zach and bla block. i was thinking about chasing the storm troopers. that's what zach and i are doing. they're on the run, we got them. >> you don't feel like you're grasping at strausws? >> no. i'm going to watch "star wars" later. >> the market is worried about a glut. you've got the u.s. frackers who are pumping as fast as they can. what's going to bring the price of oil back? >> first of all, in terms of stock selection, you want to think about high quality names. i personally like the higher quality l

look at bank of america, a 3%, charles schwab having a nice day. >> the financials say what you want have not really performed the group as a whole is up 3.5% from the beginning of the year therefore, in fact, they have not really kept up, and so as -- as they said in the -- and the other guest said, that's true. investors are going to start to move out of some of the high flyers and move into the value, so energy for sure in financials certainly lead the pack >> you mentioned energy. granted, oil prices were up 2% today, but -- >> right. >> but look what oil has done. in a bear market and oil stocks down 17%, 18%. >> we've got to go, because now the white house, we have sarah huckabee saunders who is beginning her -- the q&a process at the white house let's see what they ask about health care. stay tuned here. >> the target of this -- one of the target stories except the president went on twitter and repeat that had cnn was fake news why isn't their response good enough for the president >> i don't know that it's that the response isn't good enough for the president. i think it's th

wealthy higher americans say you need nearly 2.5 million dollars to be considered rich wording to charles schwab to see you. >> people used to my a millionaire was wealthy. >> americans are factor areing in something i teach people not to have that is debt. i think when starting to look at wealth they are counting debt service how much they need to pay payments car payments mortgages, however, i think there is a different view of wealthy if you are out of debt. i mean if you have 750,000 put away in 4 o 1k don't owe anybody i consider you wealthy because you are standard of living changed. >> how can that -- change your standard of living? because you start eroding the principal so isn't the idea to basically focus on being able to create income generating activity to create wealth because you want your money to work and be as productive as you are as human being money should be more productive than you i am on tv about it got a company that with a lot of people working to create wealth for me i think isn't that the way that wealth is created? >> yes, sir, absolutely i think with compound intere

if you don't like their answer, ask again at schwab. charlesso remember when angela merkel said europe might have to go to loan? well, she was joined by ge ceo who tweeted this last night. the paris agreement, climate change industry must now lead and not depend on the government. you know, i think both of them met meant those comments as threats. but wouldn't it be great if taxpayers stopped subsidizing nations and businesses? here togues, peter morici is back with matt welch. kristen, let me ask you. to being i said to myself. >> i'm somebody thanks markets are great for solving problems. it doesn't mean that i don't think there's no role for government, especially on the issue with the environment. dealing with internallities when i do something that causes harm to something else, the government has a role to step in there. but that's very different from massive subsidies from industries and stuff like that. so to the extent that we can have some kind of framework that protects the environment but markets do what they do, i think that's a go

schwab. a modern approach to wealth management. charles: uber under fire again.pany tries to reinvent its toxic corporate culture. they got last from the past coming back to haunt the ceo the e-mail obtained from 2013 where travis. .. seemingly laid out quote rules for the company celebration in miami and let's say it sounds like a fraternity mantra more than a company trip to joining me to discuss julia meltzer and rachel compos-duffy free to let me start with you. for people who haven't seen it others think if it had been crafted by a lawyer maybe the intent was there and smart but the way he put it was incorrect. whether your thoughts? >> highly unprofessional, immature. you are right it sounded like a couple's swinging couples getaway weekend rather than a business weekend the way ty described what was allowed in terms of having sexual relations with your co-workers and what wasn't allowed. highly inappropriate and as you mentioned before it comes on the heels of some other instances in the corporate culture but also these rate charges. this is a business tha

charles: we have big news coming out of the u.k. the pound is suddenly aglow. what it means for our markets and your wallet. we'll discuss that next. oh, no. ♪ oh no. schwabn? index investing for that low? that's three times less than fidelity... ...and four times less than vanguard. what's next, no minimums? ...no minimums. schwab has lowered the cost of investing again. introducing the lowest cost index funds in the industry with no minimums. i bet they're calling about the schwab news. schwab. a modern approach to wealth management. hit could be the next big thing i should totally get that domain name... get your great idea online too... get your domain today, and get... ...a free trial of gocentral from godaddy charles: chaos in the u.k. exit polls are shaping up to show a hung parliament. we'll discuss how this impacts your wallet. charles: this is a 7-week low for the pound. it will counseled more pressure overnight as the u.k. election appears to have resulted in a hung parliament. back in the states was a pretty good day. the nasdaq hit a new all-time high. the dow jones industrial average, s & p 500, they went back and forth. but they finished in