tracy: mark crumpton has more from the newsroom. week may next determine whether donald trump will be the nominee. he needs a strong showing in today's five primaries in the northeast. path toan do that, his the nomination becomes clearer. hillary clinton is expected to pad her lead over bernie sanders. voters are headed to the polls. sanders says it would be a great idea to have a woman as ways resident. -- vice president. he says there are many women he would consider as a running mate . he called elizabeth warren a real champion. on the train service in france. it has to do with private companies are paring to offer passenger rail service for the first time. nfl commissioner roger goodell has responded to yesterday's court ruling in the tom brady deflategate case. a panel reinstated the four-game suspension for the quarterback. he spoke this morning in an exclusive interview with david westin. . we are obviously pleased with the court's decision. we think that was the right decision. the judgments were based on solid facts. we ar

i'm mark crumpton. you.to >> tiger major index is finished in seven weeks. >> since 2010, an asian markets releaptlessly -- relentless. i want to bring in jahangir aziz. for joining us. in china.bout of calm today, there was sort of a tone. in are we heading back to the days of severe driven turmoil in markets? academy --ket is re reacting to the rumors. that december thinking bad.ts will be really which essentially drive all prices. whether it's fx, equity, everything. comes -- then comes january and february where that view was reinforced. somewhere around february, where meeting,anghai or g20 people started getting much about market growth. hand, we are putting it down. consequently, the goods is emerging favor of the markets. relative sense, if you look ahead, it's mostly going in emerging market. that's what you saw being improvingin the fx equity prices. lot of that story got a leg. when you saw data coming out of china especially the march numbers, which was like really big. course, you really ca

i am mark crumpton. news bureaus around the world. i am mark crumpton.: crude oil pushing $42 a barrel. earnings season underway. fromso have some headlines the superstar bond investor of double line capital. he made some comments about bonds, the fed, and oil. he said increasingly, the fed hike looks like a one and done scenario. alix: he also had some comments on oil, saying oil will have a harder time getting to 50 than it did getting to 40. momentum slow down. he also said it would surprise him if the dollar weakened. joe: what will it take to get lending more to stimulate the economy? areresearch says the banks retaining more earnings while paying less in dividends. we spoke about the new research that challenges conventional wisdom on bank capital. professor mason, thank you for joining us. what is the conventional wisdom about how banks should fund themselves, and what is this new research saying? that you havek is lenders over here who have a certain required return, and over there you have borrowers, and the banks are intermediaries. there is no

mark crumpton has more from our news desk.dent obama says he's pleased with news -- new steps being taken. companies move abroad for lower tax rates. the usage has sparked political outcry. keep mostobama: they of the business here in the united states because they benefit from america's technology.re and they benefit from our research benefitlopment and they from american workers who are best in the world. they effectively announce -- renounce their citizenship. thereby getting all of the rewards of the american company and responsibilities to pay their taxes the way everyone else is supposed to pay them. mark: the president made his remarks the day after they announced rules to limit the ability of companies to produce a date in inversions if they have already done them in the past six months. this could prevent a $160 billion merger between pfizer and allergan. for theulls today wisconsin republican and democratic primaries. republicans will reward 18 delegates to their statewide winner and three more to the winners in each

i am mark crumpton. thank you so much, mark. get a recap of today's market action, little change in up marginally. the dow industrials up 21 points. the nasdaq up like a tense of 1%. the worst-performing sector today was technology as tech earnings disappointed. microsoft falling as much as 9% after profit miss, google down , showing profit margins are seeing pressure from higher mobile phone use an automated ads. one thing worth mentioning is the triple q, it got taken down. bonds.m looking at despite the faltering momentum yieldsities, bond rose, one of the biggest moves in weeks for the market. , noww a bit of reversal week stocks and rising yields. the big story is the japanese yen after bloomberg news reported that the bank of japan is considering further actions on the negative rate front, the yen weakening by 2%. you see the yen weakening by 2%, the biggest weakening since january. and the dollar, not long before speculators have turned bearish on the dollar for so first time in two years, you talk about all this optimism

i am mark crumpton. back to you. david: we are looking at live pictures of the mayflower hotel in washington. donald trump is scheduled to deliver what is characterized as a major policy address. it has been a month. since he is delivered a policy speech it is expected to focus on the economy and focus on global trade, national and economic security policies. donald trump scheduled to speak in just a few minutes. we will carry some of that live on bloomberg television. to federal reserve is set announce his latest monetary policy decision at 2:00 p.m. today. it's widely expected to keep rates steady with markets forecasting only about a 22% chance of an increase at the next meeting in june. tracy: with no news conference afterwards it will be focusing on the post meeting statement. where -- will janet yellen turf from -- turn from dove to hawk? what is the number-one thing you will be looking at a 2:00 p.m.? >> how much less cautious the fed might be. we clearly saw in the last two statements caution fro

i am mark crumpton. lisa, david, back to you. david: mark, thank you. finally returned to global credit markets after a 15 year hiatus. by thee are joined cofounder of jaguar growth partners. it look at brazil, you look at the stock market that has gained 22 percent so far this year. has it gone stoo far? thomas: first of all, nice to see you both. david: nice to see you. know there's a lot of effervescence regarding this, but we believe that independent of what happens, it is going to be a very difficult 2016 and 2017 with negative growth this year minor to flat growth and growth really beginning in brazil in 2018. inid: this is a country needs of structural reform. what has to happen for brazil's mprove? to ip thomas: we believe that those reforms have to take place in order for brazil to really turn a corner. with the impeachment, that is not a clear path to acquire consensus as we know. latin american consensus takes time. lisa: if you want to take a look inside my terminal, you growth domestic product was -3.8% and the year

mark crumpton has more from our news desk. mark: bernie sanders is backing away from an earlier suggestion that hillary clinton isn't qualified to be president. appearing in nationally broadcast interviews, senator sanders defended speaking out harshly against mrs. clinton, fight quote, we've got to back. when asked whether she was qualified for the white house, sanders said of course, and that mrs. clinton on her worst day would still be an infinitely better candidate than anyone on the republican side. an associated press poll finds 55% of americans say they have a negative opinion of hillary clinton. nearly one half of registered voters say they would at least consider voting for mrs. clinton, while 63% say they would never vote for mr. trump. a senior u.s. official says an airman shot his commander in an apparent mood or-suicide at the u.s. air force base in san antonio, texas. two handguns were found near the bodies of the men. officials stressed the shooting was not an act of terrorism. the fbi is leading the investigati

i am mark crumpton. carol, back to you. underwayrning season with 36 companies reporting results today. that includes google parent alphabet. take a look at this chart from oliver renick. it shows earnings by sector. the sectors with the biggest surprises so far this season, discretionary followed by information technology. strategist at wells fargo joins us on set. what do you make of earnings so far? >> it's tough because we are only about 1/5 of the way through. it's difficult to draw too many conclusions this early. expectations were so low coming in. it's almost a given that they will get beaten. what i'm worried about is whether or not forward expectations will change. i don't pay a ton of attention to q1 earning season. crucial.at is it's too early to say. carol: it is too early to say. gina, having said that, you look at everything. you look at the economic batch up -- backdrop. what sort of environment is therefore global companies? gina: it's difficult. aggregate earning results are expected to fall 9% year on yea

mark crumpton is at the news desk. it ispresident obama says up to british voters to decide if the country remains part of the european union. conference, the president made clear he is more than comfortable entering the debate and advancing the case for britain staying in the eu. president obama: i am not coming here to fix any votes. i am not casting a vote myself. i am offering my opinion. democracies, everybody should want more information, not less. mark: the president also discussed syria, saying he has always been skeptical of russia's activities in the country. rinse pre-does is calling on his support close ranks and the eventual nominee. he told party members that he is not giving ground on the possibility of a contested convention -- in contrast to donald trump's claims that he should be the nominee, even if he falls short of the delegates needed. the ohio attorney general's office says the body of an eighth shooting victim has been found at a fourth crime scene. police earlier said seven people were dead, in

i am mark crumpton. carol, back to you. nks, and as, tha julie said, the crew rally is helping markets when it comes to corporate learning street expectations for earnings are at their lowest level since the aftermath of the financial crisis, so i have got a question. is the worst over? or are we at the start? with us is the global equity strategist at hsbc. nice to have you with us. callt to talk about your with emerging markets, and let's talk about what is going on in the u.s. profit action. are we headed for this in your view? >> i think people should be focused on this bounceback. we do not think you see it. why not? why don't you buy it question mark >> we think we are in the headwinds with high margins, and the headwinds coming into that are pretty significant. 1% inflation, so 3% nominal growth. that is not a lot, and it really has pressure on the market line. wages are beginning to come up. there is quite a lot of pressure to come in. for thehat does it take profit picture to be better? what is it going to take? is

mark crumpton has more from the newsroom. mark: thank you. family suing the flight school where the suicide pilot trained. phoenix was filed in against airline training center in arizona. andrea crashed a plane into the french alps, killing all 150 people on board. treated for depression before sending the flight school. authorities in spain have arrested a frenchman they believe supply is -- supplied the suspectse of in the deadly january of 2015 terror attacks in paris. a 27-year-old was apprehended in a coastal town in spain. two other men were taken into custody. four people were killed inside a kosher supermarket in that attack. all 20 people, including a policewoman and gunmen, were killed. a task force set up by the chicago marriott in response to an outcry of police shootings is out with its report here it it says police in chicago have "no regard for the sanctity of life when it comes to evil of color and it alienated blacks and hispanics for decades by using excessive force and honoring a code of silence." the panel

crumpton. president obama's trip to saudi arabia comes a few days after opec leaders failed to agree on a plan to freeze oil output. tracy: our guest says even if they come to an agreement it would not have mattered much to markets. michael hsueh joins us from london. can you tell us where we are in terms of the big question which is the rebalancing of the global oil market? michael: we think things are really still on track. as you saw from u.s. data today, you were talking about supply declining. .hat is part of the picture product demand on the u.s. looked very good. the saudi -- the delhomme meeting washe doha not what to be a game changer one way or the other. our model remains unchanged. with a lot of disruptions also happening in the first quarter, that helps out as well. pushing us toward what could look like balanced markets in q3 and q4. q3 and q4 are typically undersupplied so you have a typical h one surplus and h2 deficit. h2 being balanced is still on the margin. a bit heritage bu

i am mark crumpton. back to you. carol: stocks are off a little today. the s&p 500 has rebounded 14% since the february low. the seven-year bull market weeks away from becoming the second longest in history. my next guest says oil has been the biggest factor in the turnaround in stocks this year. chris wolfe is chief investment officer. nice to have you here. glad it is friday. it has been a busy week. earnings news is coming through. we have had another run-up in stocks. chris: you had a big turn in february with a change in fed policy. you had a swing of the dollar and commodity prices that contributed to a lot of folks playing the under, what was undervalued. a lot of those have come back strongly. that has helped propel the markets higher. you showed a graphic earlier of energy names and financials. those were things that did not perform well. carol: what has changed fundamentally? anything? chris: at the big index level, not a lot. the big driver is the change in fed policy. think was the we u.s. going its own w

mark crumpton has those. mark c.: thank you.national for over the recently published panama papers continues with david cameron lawmakers. he says that even though he has released six years of tax returns, other ministers should not be required to release there's. -- theirs. mr. cameron: we should think carefully before abandoning all taxpayer confidentiality, as some have suggested. mark c.: mr. cameron has been under pressure after his father was revealed -- trust hillary clinton more on a number of issues according to a new full -- poll. when comes to who americans trust on the economy, mr. trump and mrs. clinton were even. 54 bar association president are urging republicans to consider president obama's supreme court judge nominee, merrick garland. republicans say they have no plans to move forward on judge garland's domination. half of theays u.s. approves of president obama's job performance, the first time that has happened since 2013. a survey shows an up big across a number of issues, including the economy. 54% characte

i am mark crumpton. thank you. "what'd you miss?"rosoft and alphabetic reporting earnings. here to discuss is cory johnson. microsoft when it comes to its bottom line and top line, coming in as anticipated. the bottom-line missing a little bit, no change from a year ago. refocusing the ,ompany on the cloud competitive in the area with amazon and others. this cloud business is getting to be a two horse race. , but not making moves anywhere near microsoft's effort. abouthat are we learning the incumbent cloud business today. >> they are doing well, and microsoft is making money at it. selling something for more than a cost and doing a lot of it is a good thing to do. amazon and microsoft are probably making 25% margins in in a businesses, and business where you expect to see price carding, costs coming down and margins remain strong. revenue of almost $9.5 billion, that is deteriorating, right? >> microsoft has an active sales staff, and it is also the way they recognize revenue over time. it is a positive sign for them. >> should we l

go to mark crumpton standing by in the newsroom. mark: u.s.ney general loretta lynch says the justice department hasn't set a deadline for the investigation into former secretary of state hillary clinton. she made her comments to donald hunt during an interview on the charlie rose program. we will do a full and independent review of everything that comes to our attention. we don't make predictions for the time because that potentially cuts off the independence of that. we've predict the timing of any of our matters. the entirean see interview tonight on charlie rose on bloomberg at 7:00 and 10:00 p.m. new york time. vice president wide and is en route to washington following talks in rome with the italian prime minister. -- white house did reveal didn't rebuild what was on the agenda but italy, the u.s., other countries are struggling to deal with the instability in libya. mr. biden also had a private meeting with pope francis as they prepared to give separate remarks at a conference on regenerative medicine. puerto rico's health secretary say

crumpton. the weak dollar is fresh air for emerging markets. -- outlined his positive representation for emerging markets during his seven-year tenure at jefferies. >> looking back at the history qe driven was a trade. almost a dollar give valuation that was going to take away from emerging markets. you at the europeans and the japanese doing similar evaluation trades. that forced emerging markets to do some pretty ugly things. they just don't do it with the same amount of credibility as a developed market which made us very nervous about their ability to deal with what was going on in developed markets. bit here is that if we call off the dollar strength move that has come in to really impede emerging given their dollar liability and the fact that the europeans and the japanese are still doing devaluation offtegies, if we call that for a little while which we have done since february, we give the emerging markets kind of a breath of fresh air. janet yellen and particular is not interested in s

i'm mark crumpton. >> thank you. canadian pacific railway announced today it's pulling the plug on push to buy. >> $27 billion fizzled after five months of effort. >> that of course will be hunter harrison. he is the chief executive officer. on the phone with us, you spent some time spending some time with the rail yards in chicago. there are a number of things that we need to talk about. a couple of things missing from the statement. terminating your efforts to buy norfolk southern. two, what's next. let's begin with the why. why end these efforts now? >> i think that we can see the handwriting on the wall. when there's a clear misunderstanding of the transaction, when the justice department, you know has no stay in the transaction, when the u.s. army and political pressures start to bare it's time olook to see if we want to want to waste a lot more ti clearly norfolk southern was not ready to discuss the issue. they said our offer was woefully inadequate but they wouldn't tell us inadequate was. we saw a deck stack

i am mark crumpton. back to you. scarlet: back to equities, nothing seems to be able to shake the s&p 500 out of its range and earnings season looks pretty grim with that income falling 10% in the first quarter. meantime, the s&p trades at the all-time high. alix: here to help us sort this out is julian emanuel, the executive director of derivative strategies at ubs. what breaks us out of this range? the near term,n we think we do need to take a pause. but over the last couple of days, financials have been trading as well as they are, it is very positive. and it tells you that a lot of sectors, where you have a discounting of very poor news and when you get better than expected commentary, particularly in a place like financials, where you can benefit from a steeper yield curve and healing capital markets and potentially public interest in the equity markets down the line, those are the types of things that encourage us and we eventually will break out of that range. scarlet: one thing i can't figure out is the vix,

mark crumpton has more.ent obama is returning to the unit takes after his trip to europe and audio hrynvnia. the president met with the heads of state from france, italy, the u.k. and germany. they reportedly touched on a wide range of topics including the battle against islamic state, the civil war in syria and the ongoing refugee crisis. donald trump is firing back at a attempt to unite the anti-trump vote in the remaining primaries. he says the -- he says ted cruz and john kasich are colluding in a way that would be illegal in many industries. the two have agreed to compete in some primaries and back off in others to avoid splitting the antitrust vote. the city of cleveland has reached a $6 million settlement over the death of tamir rice, the african-american child was playing with a pellet gun when he was shot by a white police officer. an order filed in federal court says the city will pay out $3 million this year and next year. a grand jury declined to bring criminal charges. in california, tweeting ab

crumpton. pfizer and allergan have terminated their $160 billion merger in the face of u.s. treasuries crackdown on corporate inversions. scarlet: the allergan ceo spoke about his company's future and how they will spend the cash they have on hand. >> we are in a terrific position. this was not plan a. we were prepared for this, we had a contingency plan. allergan has a great opportunity as an independent company to leverage its profile. as you just mentioned, our balance sheet. we will continue to become the premier growth pharma company. we will continue to find assets that complement. >> is valeant see one of those complements? >> i can't comment on a specific company. valiant, i would really have to understand their growth profile to be able to answer that question. >> and you don't understand the growth profile, or you don't like it? >> they haven't reported. it's hard to see what was volume versus price. they have a lot of good people. i can't comment specifically on valeant because i hav

mark crumpton has more from the newsroom.michigan governor rick snyder and water experts are proposing that the state institute the country's toughest lead testing rules. that is according to be associated press. other recommendations would require utilities to test all schools and day care centers not just homes. lawmakers will be leaving washington without having made the deadline to pass a budget that has been stalled in the house. there's other work left undone as well, continuing divisions between tea party lawmakers and house gop leaders. effort toside an address that, crisis in puerto rico. enoughte house's amp pressure on republicans on delays in providing money to combat the zika virus. bernie sanders and hillary clinton when on the attack last night, facing off in a debate in brooklyn ahead of new york's primary. the two democratic candidates challenge each other's judgment on wall street banks, minimum wage, and gun control. it came at a total moment for the party's primary campaign with clinton leading in the dele

i am mark crumpton, carol, back to you. carol: as julie mention, the s&p 500 hovering the highest level in months. the winner, emerging-market stocks. this is a chart showing the msp i global stock index compared with the emerging-market counterpart. emerging-market equities ahead through today. on thist a perspective wednesday. let's bring in the global chief strategist at citibank. -- we should take a look at things prospectively. where do you find the best opportunity for individuals right now? steve: it is this mix, this difference that central banks have managed to drive interest rates dramatically lower in the eurozone, where dividend yields are higher for equities than in the united states, conversely we have some of the highest bond yields in the markets. carol: it doesn't quite make sense, doesn't? makes sense in terms of global economic strength. outl: we have a story talking about japan's sovereign deals. hitting a record low. when you look at the fixed income and sovereign debt and see so much of negative rates,

mark crumpton has more. comes even after the fbi successfully gained access to one of the san bernardino shooters iphones without apple's help. it's become a pivotal case regarding privacy rights. official says an airman shot his commander at an apparent murder suicide in san antonio, texas. two handguns were found your the bodies of the men. officials stressed the shooting was not an act of terrorism. the fbi is leading the investigation. the brazilian president has canceled her appearance increase for the flame lighting for the summer olympics in rio de janeiro. she is fighting impeachment had ever 2014 reelection campaign. president rousseff has denied committing any crime. holocaust victims and survivors has reached a milestone, one million people persecuted by the knot sees -- nazis. the project is known as the world memory project. global news 24 hours a day. back to you. alix: bloomberg has learned verizon is planning to make a first-round day for yahoo!'s went business and the telecom giant is also w

i am mark crumpton. alix, joe, scarlet?rlet: stocks are falling with the s&p posting its steepest loss in about a month. this is a continuation of the false we saw yesterday and the declines picked up in the final couple of minutes. down are leading the way along with treasury yields because bonds and of the safe havens like the end rally. alix: i want to point out that the 1% decline in the s&p -- we have only seen 1% move in the s&p in march, three times. this is the first time we have seen it since march 11. volatility has been so low and is not seen big moves and today was quite significant for the s&p in that respect. scarlet: there was economic data but it did not move the needle for anyone. t.e: no one treated off jol scarlet: pmi, what have you. alix: what you miss? i since prime minister a day after the panel papers linked him to offshore bank accounts. uncoveredt in aspects by this week could be the tip of the iceberg. our next guest is saying a percent of financial wealth is hidden away. joe: gabriel zuckerman is

i am mark crumpton.is radical call for transformation in the energy is missed eventually led to his exit late last year. david crane does remain a strong voice in the industry and is still sketching out a vision for the future of clean energy. scarlet: what exactly is his next challenge question mark david joins us from the bloomberg energy finance summit in new york. give us a preview. what are you working on now? right now, i am really not working on anything. futures in the clean energy side of the clean energy sector. probably solar. you know who else has been investing in renewables has been pe, riverstone is investing in this space. could that be a good fit for you? david: i hope so. energylic market for companies, as reporting earlier, were so swamped by commodity is a great time for private equity to be circling around. and gas side to the solar and wind side. i am more interested in the solar and wind side of things. you be more specific in terms of opportunities? that are created an alternative

mark crumpton has more from the newsroom. mark: donald trump is counting on his home state to provide a big boost for the republican presidential nomination. polls show a double-digit lead over ted cruz and john kasich in today's new york primary. a win would give trump momentum going to five key northeast contest next week. he voted this morning in midtown manhattan,aying it was a great honor to be able to vote for himself. clinton, whollary represented new york and the u.s. senate, is hoping to increase her lead over bernie sanders, who has won seven of the last eight primaries and caucuses. ted cruz says he will notsk for a recount of his narrow loss in missouri's presence of primary. senator ted cruz had faced an end of day deadline to contest the results of the march 15 voting. uznald trump defeated cr by fewer than 2000 votes with a margin of 151%. andcinnati man charged plotting attack on the u.s. capital has been ruled competent to stand on trial. christopher lea cordell's trial is scheduled for november. it appears m

i am mark crumpton. scarlet: thank you. fresh data out this morning shows that americans have been reluctant to pry open their wallets. unexpectedly declining last month after americans bought less cars and clothes. alix: michael gapen joins us now. michael: this is mainly an auto story. auto shares were very low. we thought that was unsustainable. and it had to come down. so that is happening. we had a big drop off in march auto sales and that took money off the retail sales numbers. outside of that, he march data was still disappointing. the good news in this report is that january and february data was revised higher. and those revisions outshined the weakness in march. so we did bump up the tracking estimate. scarlet: there is no evidence that consumers are ramping up their spending. how does the fed pull that in? there is not a tremendous amount of evidence to see that things are accelerating. it is unlikely to make the fed want to do something sooner. so i think they have to whether they think the decline in autos is

let's check in with mark crumpton. hillary clinton and donald trump are leading three weeks ahead of the maryland primary. on the republican side, mr. 31%p has 41%, compared to or john kasich, and 22% or ted cruz. onyland has its primary april 26 along with rhode island and connecticut. president obama is still lobbying for merrick garland but a group of conservatives appears to have someone else in mind. elected,d trump is they want him to elect utah senator mike lee. if ted cruz is elected, he says he would consider lee, who is his best friend in the senate, for the job. a man who served as a nazi guard in auschwitz has died. and deadly attack on the market in yemen was by a saudi military coalition using u.s. explosives. it is the first time the u.s. has been linked to the airstrikes, believed to be the deadliest coalition bombing during the yemen civil war. lisa: jamie dimon use his annual letter to shareholders to want about geopolitical risk. david: joining us now is the global manager at tia. how concerned are y

i'm mark crumpton. as we kick off the second quarter earnings come out next guest says there is reason for optimism. having better expectations than the consensus can be a good way to make money. lisa: with us now is brian jacobsen from wells fargo funds. he joins us from wisconsin. where are you seeing opportunities right now in the market? brian: most of the opportunities i'm seeing right now are outside of the u.s. emerging markets represent a good value play for a patient investor. we are bumping up against the 52-week high on the s&p 500. there is still room to run for a number of different sectors within the s&p. energy, there's low expectations for earnings and revenue going forward. when you get into the small cap and mid-cap space, that's where i see a lot more opportunity for investors to jump right now. i'm encouraging people to look at the mid-cap value space. that area has underperformed for a number of years. it represents time where we could see some upside surprises in that specific area

crumpton, "bloomberg west" is next. ♪ emily: i am emily chang and this is bloomberg west.or applebraced earnings yesterday and the question remains, how far have iphone sales fallen. and charter communications approved -- received approval for its takeover of time warner cable. and we embark on the busiest week this quarter. what you need to know ahead of the report. it has been a year since apple released the most significant new product since the tim cook era. the most hyped gadget since the iphone, the apple watch. watch is the apple most personal device we have ever created. it is not just with you, it is on you. since what you where is an expression of who you are, we designed apple watch to appeal to a variety of people with different taste and different preferences. emily: apple has not disclosed sales figures but ibc estimates about 11.6 million were shipped in the first month of 2015. they compare that to the first sales of the iphone which were a mere 6 million units in 2007. the iphone went on to be there most important product ever. with that in mind, why is th

i am mark crumpton. back to you. david: thank you. announces their decision on wednesday. investors, zero probability the will hike rates and only a 10% chance of a move gathering in june. lisa: there is a probability that potentially they could cut rates. the next guest says the fed will look at global growth when assessing its next hike. joining us now is the head of global strategy at td securities. julie was just talking about inflation and she was looking at the five year for events. how big is the risk given nobody effects a hike? how big is the risk that the fed will overshoot and way too long to raise rates and that inflation will pick up much faster than they expect? >> i think particularly if you wage inflation, global growth. we are not seeing a lot of wage inflation. maybe wage inflation and cpi are not that correlated. and 3%,ally, between 1% they are not that correlated. know that the cpi is the same. i find that a little bit odd. actually been rising for six months. his around 3%. i think the fed looking at global growth, there is a risk they will let cpi ru

i am mark crumpton. apparentraw-hill is an that is fairly a country that appellate a company of -- it is marketing the asian services unit from $1.1 billion. you may have gotten some surveys from the company in auto. they were pretty influential in that space. for $1.1the u.k. billion. let's get to a recap of u.s. stocks today. indicate a modest decline. 2% and theed almost s&p still holding its four-month high. >> and very quiet day, but quite an impressive week for the market. >> today was all about apple. were going to cut production of the iphone 6 and six as own. apple wade overall on markets. scrubbing alix steel won't upgrade her phone. scarlet: alix steel won't upgrade her phone. alix: accordant people with knowledge of the effort, the firm is firing more support unless they are directly tied to serving clients. goldman is also said to be relying more on junior bankers. investors -- reassured investors he is keeping an eagle eye on expenses and the firm has more flexibility to reduce them. joinin

we will be right back. ♪ mark: i am mark crumpton, you are watching "bloomberg west."formed at the soundtrack of a generation, was found dead in suburban minneapolis today. no cause of the death has been released. postponed ao he concert in atlanta due to the f lu. prince, dead at the age of 57. prime minister and economic met concerned that sophisticated weapons from syria and iraq could end up in the lebanese group hezbollah's hands. town inition-held syria, the convoy was the first to reach the town in over a year. some one at a thousand people live in the area. donald trump was asked about south carolina's so-called bathroom law, which requires that people use bathrooms that correspond to the gender on their birth certificate. he says there are cap little complaints -- there are little complaints with how it is. there is so little trouble. "a bigger splash -- powered by over 2400 journalists in 150 bureaus around the world, bloomberg'sumpton, paul allen has a look at the markets. paul, good morning. a nine week rally, oil is down, and the only market currently open

i am mark crumpton. scarlet: let's get a recap of today's market action.isingly, stocks closed higher with the dow up by 106 points, above 18,004 the first time since july. it looks like the failed doha talks had minimal impact on the markets at the end of the day. we saw oil futures plunge and then this incredible turnaround. everything turned, especially energy stocks. alix: exxon added 15 points. brent around 4:00 was flat. unbelievable. it was down 7% last night. scarlet: however, if you look at what happening in after-hours trade, a lot of individual company news driving stocks. you have netflix plunging after weakening international subscriber growth. domestic numbers beat analyst estimates, but the stock is reacting to the mixed forecast for international. ibm lower in extended trading, even after earnings beat analyst at the -- analysts estimates. netflix, additional headlines, says it does plan to raise added capital later in 2016 and early in 2017. raise capital to through the high markets. the content cost's you pointed out earlier are quite hig

. ♪ >> i am mark crumpton, you are watching "bloomberg west."n, a series of earthquakes that struck on thursday are the nation's worst in five years. more than 110,000 had to flee their homes. the uss is delivering bread, water, and ready-to-eat food and other supplies to those cut off by the quakes. rescue crews are continuing their search for those reported missing. in ecuador, hundreds of aid workers are joining search and rescue efforts following the saturday earthquake. it was the heaviest earthquake in ecuador in decades. experts say at least 350 people were killed. -- 110,00010th out houston area homes and businesses are without power after rain fell that flooded roads. public transportation has been suspended, and schools and city offices are closed today. the mayor urge people to say at home and off the roads. donald trump and hillary clinton are leading ahead of tomorrow's new york primary. mr. trump has the support of 56% of likely gop voters, ted cruz 18%. hillary clinton leads rival berniesanders 55%-40%. from bloomberg world headqu

mark crumpton has more from the newsroom.ark: loretta lynch says the justice department has not set a deadline for the investigation into former secretary of state hillary clinton's use of time it e-mail. she made comments to al hunt during interviews on the charlie rose program. ande had to do a full independent review of everything that comes toward -- attention. we have to be full, thorough, fair, and independent area that cuts off the independence of that area the thoroughness of that. we do not predict the timing of any of our matters. see the entire interview tonight on charlie rose bloomberg at 7 p.m. and 10 p.m. new york time. president obama announced what he called common sense steps to curb gun violence. they include identifying that so-called smart guns would have to meet for law enforcement's -- law enforcement agencies to use them. they prevent accidental shootings or to track down a missing gun. officials expect to complete the process october. played a white house secretary on the west wing. she got a chance t

i'm mark crumpton. tracy, scarlett, back to you. scarlett: well, europe is confronted with an economic conundrum. g.d.p. picked up at the fastest pace in a year, while inflation is still nowhere to be found. consumer prices renewing their decline. tracy: have a look at this chart. the bars show quarter onquarter g.d.p. for the euro area. the last was a gain of .6%. the white line tracks inflation. as you can see, it's not budging from its downward trajectory. they're discussion how european policy makers and markets are responding to this conundrum is david, a global market strategist at j.p. morgan asset management. how are markets responding to this conundrum? it seems to be a big one. >> what i think you're seeing now is a bit of a move in the center of growth globally from the u.s. over to europe. the data in the u.s. has cooled off a little bit recently. we don't have the same inflationary pressure that a lot of people were expecting. obviously there's no inflation to be found in europe right now, but the growth numbers this mo

. ♪ mark: i am mark crumpton. let's begin with a check of your bloomberg first word news.tigators visited the months firm used -- the musick fonseca law firm today. three suspects have been detained in connection with the terror attacks in paris. they allegedly rented an apartment that served as a hideout for the bomber who attack the brussels subway on march 22. china's foreign minister says the nation should stop hyping territorial disputes in asian -- the u.s. and other nations should stop hyping territorial disputes in asian waters. this came after concerns over the south china seas. pat mcgrory has signed an executive order changing parts of the controversial law maintaining gender specific restrooms and access to government buildings and schools. he says he will file legislation that allows people to sue in state court over discrimination, something that had been eliminated by the law. local news 24 hours a day powered by 2400 journalists in 100 50 news bureaus around the world. from bloomberg headquarters -- 150 news bureaus around the world. from bloomberg headquar

i am mark crumpton. back to you.arol: two stories in the world of hedge funds making news at tos hour. clients are asking pull more than $1 million from the hedge fund. three years of lackluster returns. cohen will be able to raise outside cash from investors before the end of his two-year ban from the money management industry. steve cohen joins us from washington. also with us is our own hedge fund reporter. he broke the story. a lot is going on. let me take it off with you. ago, a a couple of years lot of problems with regulators, they had us -- they had a settlement. and he can manage money again for outside investors. manage them himself, but they included a provision into the settlement that allows him to own a firm that manages outside money and all the officeves at his family are going to be running the new firm that manages outside capitals. cohen will not have a supervisory role, is that correct? >> that is right. he will not be managing any of themoney or involved in overall, day-to-day management of the f

from bloomberg world headquarters, i'm mark crumpton. it is just after 6:30 in new york.ok at the markets. david: hey there, mark. -t has been, after a week of - asia seems to be heading into the weekend on a modestly downbeat note. the new zealand index opened up over 1/4 of 1 point, but it is trimming those gains. we will be seeing whether -- where that heads. in terms of results today, we will be watching haier, which bought ge's appliances unit last week. haier put their results out last night, and that showed better performance from appliances, but not doing so well in plain, vanilla goods. we are watching their shares today. ♪ to my conversation with biz stone, the entrepreneur who cofounded twitter and medium. biz stone is back in the spotlight today after hitting refresh on his latest startup, jelly. jelly is a very specific type of search engine. i began by asking why someone would choose jelly over google. take a listen. biz: well, it doesn't search the web. there is a very significant of questions -- percentage of questions and queries that have way better answ

i am mark crumpton in new york. emily: this is "bloomberg west." surged in pandora's trading after an update. listening hours rose classroom percent from a year ago. the stock surge comes at a crucial time for the company, having outlined inexpensive five-year strategy to send off spotify and apple music in february and bring back tim westergren as ceo. i asked him why he was back. tim: i love the company. i have been active. i feel sort of connected, genetically, to the company. i feel like it is the right time for me to take the role. the strategy is intact. the same plan we declared in january is the same plan now. working to build from this huge foundation that we have created, this massive ad supported radio product, and expanded into new features. emily: we reported that pandora had explored a sale earlier this year? tim: it is. ahead. we spent 10 years building the underpinnings of a really big business. that is where we are headed. emily: in the corner, active listeners ticked up, but still not a huge increase. what will it take to drive th

i am mark crumpton.x: "what'd you miss?" the economy might not be that bad according to the latest reading of the fed's beige book. the u.s. economy expanded from late february to early april across most regions thanks to strong labor markets, rising wage pressures, and slightly better consumer spending, so what does that mean for the fed? head of u.s. rate strategy for rbc capital markets. book is anige anecdotal survey of the economy, but some people try to quantify it right looking at positive , and and negative words there was a nice bounce back in their measure of the latest beige book. how much attention do you pay to that? >> it is worthy of some attention, particular where they say we are seeing more wage pressure pickup. this recovery has been dependent on the consumer more than anything else. wages far more important because that is what is driving things. whenin the previous cycle we had consumer spending, that tended to be fueled by borrowing, debt financed consumer back then. now no one is b

mark: i'm mark crumpton, you're watching bloomberg west. forapan, the search survivors continues following a magnitude 6.5 earthquake that left two people dead and 45 others injured. the quake which collapsed houses and started fires, was centered about 74 miles northeast of japan's only operating nuclear plant. the u.s. plans to station warplanes in the philippines as deployment comes after american ships began conducting joint patrols with the philippines in the south china sea last month. china claims sovereignty over all china sea islands and the waters. a conservative leader in the house warns publican party leaders not to change the rules to allow somebody other than donald trump or ted cruz to win the party nomination. , jim jordanm caucus told c-span, primary results show republican voters went and anti-establishment candidate. the debate tonight between bernie sanders and hillary clinton comes days before next week's new york primary. hillary clinton is trying to snap a seven state losing streak. senator sanders needs to make up gr

. ♪ >> i'm mark crumpton. you're watching "bloomberg west."crews are searching for survivors of japan's second powerful earthquake in 24 hours. saturday's magnitude 7.3 quake struck in the early morning hours in the same region as the one on friday. the nuclear plant near the epicenter of both quakes is operating normally. belgium's transport minister has resigned after the leak of the secret eu report detailing lapses in airport security oversight after the bombings in brussels. the confidential document says security measures were flawed and safety checks were handled poorly. spain's industry minister also resigned today, the latest top official to leave his post as a result of the so-called panama papers leak. soria stepped down after giving conflicting explanation of his ties to a firm set up by mossack fonseca. democratic presidential candidate bernie sanders attended a vatican conference in rome today, commemorating the anniversary of a land march teaching document from john paul ii. senator sanders: i am very excited to be here at the v

crumpton has more. mark: thank you. a new nbc news wall street journal poll indicates hillary clinton's national lead over down toanders is now two points. it she is supported by 50% of democratic primary voters nationwide, compared with 48% for senator sanders. a nightclinton had percentage point advantage just one month ago. senator ted cruz says he has no interest whatsoever in being donald trump's running mate if nomination.ns the senator cruz spoke on "good morning america," saying that hillary clinton will win by double digits if donald trump is the nominee. supreme court arguments have spiritver deportation more than two dozen states, most with republican governors, argue the president has gone too far. there is suggestion that justices are divided. the court decision could alter the fate of millions of undocumented immigrants. he getting today, the pentagon is offering money to hackers who find security flaws on its website. the hack the pentagon program runs until may 12. through aave to go background check bef

mark crumpton has more from the news desk.k: hillary clinton has unleashed a new round of attacks against her rival, bernie sanders after a string of primary defeats including last night in wisconsin. she is questioning him on his truthfulness, his readiness for office, and his ties to the democratic party. kasich will be talking about the strategy for continuing his presidential campaign and battling for the nomination at the convention in cleveland the summer. the only contest governor kasich has one so far was in his home state, yet he continues to compile a modest number of delegates that could be crucial .n a tight race the world health organization says diabetes is on the rise. aging and population growth drove a fourfold increase in worldwide cases over the last quarter. 422 million people were affected in 2014. diabetes group around the world but increased in africa, the asia. east and an icon of country music is dead -- merle haggard celebrated outlaws and demonstrated an abiding sense of national pride. bout ofh foll

mark: i'm mark crumpton, you're watching "bloomberg west."o go to mike pence is endorsing ted cruz for president. week in thetes next indiana primary after getting swept by donald trump in five northeastern states on tuesday. >> i'm not against anybody, but i will be voting for ted cruz in the upcoming republican primary. mark: the endorsement marks a setback donald trump what appeals to governor pence not to make any endorsement. the justice department has not set a deadline into the investigation into former secretary of state hillary clinton's use of private e-mail to send personal and work correspondence. >> i think we oh it to them to do a full, thorough, and independent review of everything that comes to our attention. we have to be full, thorough, fair, and we don't make predictions on the time. we don't predict the timing of any of our matters. mark: you can see the entire interview with attorney general lynch tonight on "charlie rose" on bloomberg. president obama in talks with the italian prime minister. the white house didn't the r

mark: i'm mark crumpton. you are watching "bloomberg west." mexico is replacing its ambassador to the u.s. after only seven months on the job. mexico's and it needs to ratify the change. this comes as donald trump has made a border wall with mexico a cornerstone of his policy. the prime minister of iceland resigned. the country's president rejected attempts to dissolve the government and hold a new election. thousands of icelanders protested outside parliament demanding the prime minister , step down after allegations of his offshore tax affairs. a republican senator says she's more convinced than ever that there should be hearing on president obama's supreme court nominee. susan collins met with merrick garland on capitol hill for more than an hour. she is one of two gop senators to call for hearings, but senate majority leader, mitch mcconnell said there would be no hearings or votes. polls show ted cruz leading donald trump in today's wisconsin primary. cruz got a big boost when he was endorsed by the state governor scott walker. bernie san