mark crumpton has more from the news desk. u.s.opean satellites captured an emergency distress signal from egyptair flight 804 minutes after it fell off radar on may 19 according to the national oceanic and atmospheric administration. radioing anegan automatic distress message at 2:36 a.m. local time. a ground station in cyprus received a location from the beacon from five satellites. they were able to pinpoint a crash site accurate within three miles. the data was turned over to investigators, who are now looking into the cause of the crash. during his historic visit to hiroshima, president obama met with those who bore witness to the bombing that ushered in the atomic age of war. obama became the first sitting u.s. president to make the trip to hiroshima without to hiroshima. without apologizing for the action during world war ii, the said the bombing demonstrated that mankind means to the destroy itself. --sident putin is not president hollande is not backing down from labor reforms. protesters walked out of refineries this

i am mark crumpton. david: about one hour from the close, the dow is up about 1.33%. ,he s&p 500 also up about 1.3% and the nasdaq up almost 2%, 92 points at 4858. shery: the next guest is maintaining a cautious stance toward equities, saying the at best.tlook is stephen auth joints -- joins us. we have seen a trade sideways, frustrating goals and bears. you were once a big bowl. your target was 2500 and one point. where are you now, and where you see equities going from here? the year werlier in scaled back our position and we have maintained a cautious stance since. our view is there are a lot of forces that are uncertain right now and they have to play out. they can be positive or negative. one thing that is happening today that is interesting is the negative fed announcement, if you will, is being taken positively. that is actually a good thing. look at the industrials -- what they are doing today -- they are having a nice bounce. people are saying a be the economy is strong enough to take a thread h

let's start with the bloomberg first word news with mark crumpton.ark: he is the republican presidential nominee for 2016, 69-year-old donald trump. he is speaking out to supporters in bismarck, north dakota, surrounded by some of the uncommitted delegates who are now saying they will support his nomination. the associated press reported earlier today that mr. trump had clear the delegate count hurdle. he said earlier that republican senators and congressmen have been thanking him. he was asked about hillary clinton and e-mail scandal. he said, i want to run against her, this is all probably illegal. he said she is skirting on the edge all the time. he said that is mrs. clinton's history. stay with us on bloomberg television. we will have more on his remarks. michigan governor rick snyder is looking to stop administrative investigations into have two state agencies handle the drinking water crisis. it move follows morning that is hampering state and federal inquiries. the investigations could have what he call a chilling effect on the criminal proces

i am mark crumpton. back to you. alix: thank you so much. we will go live now to scarlet fu, who is at the milken institute global conference in los angeles. she is standing by with vicki fuller. good to see you. take it away. scarlet: thank you so much. vicki manages the largest pension fund in the united states. welcome. >> good to be with you. scarlet: tell us about your comfort level with the risk .ight now investor, itterm seems to me that every year one risk replaces another. i think the biggest risk we are worried about is not so much the things you mention, but what is happening with economic growth. slow growth in the u.s., declining growth in china, no growth in emerging markets. pairately, the way we pensions with the people we serve is investing in global economic growth. scarlet: you have been at the conference for two days. you have been attending these big picture somatic discussions on the outlook for different parts of the world. you come away with any sense of optimism about where we are headed in t

i'm mark crumpton. back to you.edit sweeties posted a $311 million loss which was well below analysts estimates. cost-cutting measures announced in march are on track. down francine lacqua sat for a much different interviewed in the one given in march when he said the markets were going to help. francine asked him what has changed. guest: there was a time in january or february that were very bad. march was better and april was better than march and may is showing some positive signs, but it is difficult when you are in that position. sentiment feels fragile there. francine: less volatility is what you are experiencing there? guest: the market is very sensitive and there's not much liquidity. lot.ews flow triggers a francine: so it won't be easier to make money in the markets? not necessarily. there has been an improvement from january and february. 63%s very strong and up year over year. the m and a pipeline is strong, so there are some spots where we see strength around global growth, including china. francine: on

mark: i'm mark crumpton. you are watching "bloomberg west." let's begin with a check of your first word news. the head of homeland security says the tsa will speed up hiring to deal with the summer travel season. secretary johnson: we have expedited the hiring. we plan to bring on 768 this year. we have expedited the hiring to bring them on this summer. projected by june 15. mark: in the past three years, congress has cut the front line screeners by 10%. judiciary committee has opened hearings that could lead to the impeachment of the irs leader. they will look at targeting of conservative groups. latimer putin is promising that russia will take steps to retain strategic parity. rizal's new finance minister -- brazil's new finance minister promises to reform the country's pension system. brazil is in its worst recession since the 1930's. i'm mark crumpton. "bloomberg west" is next. ♪ brad: i'm brad stone and for emily chang. this is bloomberg west. coming up, apple drops a billion dollar, investing in one of uber's rivals. what this means for

mark crumpton has more from our newsroom. says he a federal judge may order hillary clinton to testify under oath about whether she used a private e-mail server as secretary of state to evade public records disclosures. the judge signed an order granting a request from the conservative group judicial watch. it wants to question six current and former state department staffers. more than three dozen lawsuits have been filed seeking copies of government records related to time at the state department from 2009 22013. john kasich, the last man standing in donald trump's path to the republican presidential nomination, will end his campaign today, making mr. trump a party's -- the party's presumptive nominee. the ohio governor will suspend his campaign at a speech at 5:00 p.m. local time in columbus, ohio. kasich held on to become the last candidate battling mr. trump, if for only a few hours since ted cruz dropped out last night. president obama is getting a firsthand look at flint, michigan, and it's tainted water supply -- and

i am mark crumpton. joe, scarlet, back to you.et: let's go to a recap of today's market action. down for the major indexes. deepening in the afternoon. we have data on inflation that convinces us some people that that may be in a better position to raise interest rates until june or july. joe: we saw a bit of an uptick in expectations of a june rate hike, but the expectation is that there will not be one. big losers, consumer stocks, consumer staples, consumer discretionary's among the worst. the worst performing sector and the s&p, energy, as oil was up 1.7% today. scarlet: valeant shares rising in after-hours sharing after they reported they will sell some of their smaller cosmetic and pharmaceutical assets as they try to raise cash to reduce debt. "what'd you miss?" first conference taking place in palos verdes am a california. we talk with jeff currie. alix: jeff, great to see you. your calletation of was short-term bullish, long-term bearish. break it down. jeff: our average price forecast did not change. there was some suppl

. -- mark crumpton has more. mark: indiana's primer will be important to his goal to catch up with hillary clinton. senator sanders is telling supporters with 10 states let's come his campaign needs to earn more than 50% of the remaining delegates of for grabs. sanders says he has 45% of the pledged delegates awarded so far, but only about 7% of superdelegates. $26 clinton raised about million in april, the campaign said it has $30 billion in the bank having intimate. senator sanders raise the first amount -- the same amount last month, marking a steep decline from the $46 million he raised in march. jerry sandusky is back in court as he continues to pursue appeals of his 45 count convictions of child sexual abuse. the 72 euro claims he was wrongly convicted. he is serving a 30 to 60 year sentence for abusing 10 boys. turkey's interior minister says a car bombing that killed two police officers and wounded 22 others in a southern city near syria was carried out by militants linked to islamic state. up to 50 peopl

mark crumpton has more from the newsroom.c.: donald trump is backtracking on a statement that he would renegotiate u.s. debt if the economy turned south. he said he intended only to signal he would use advantageous market conditions to save money on refinancing with longer-term bonds. mr. trump called suggestions he would favor a default ridiculous and added, you never have to default as you get the money. the money.t it is david cameron's latest attempt to convince voters not to leave the european union. he said that a vote to leave would have serious consequences. i understand why some people's heads and hearts are torn. andnderstand the respect -- respect the opinions of those who think that we should leave, even though i think leaving would inflict real damage on our country. mark c.: the british referendum 23rd. eu is june 2 brazil's lower house is calling impeachment.ote on the senate was scheduled to vote later this week whether to put president rousseff on trial and temporarily forced her to step down. for mayorly rar

ed crumpton has more -- mark crumpton has more. taken newld trump has positions and 49 new corporation says july when he began his campaign for the republican presidential nomination. is listing in positions in 564 entities. that is up from 515 in an earlier filing. the top u.s. intelligence officials says washington has seen and occasions of foreign hackers spying on presidential candidates. the fbi and homeland security officials are working with the campaigns to help them titans security. the activity follows a pattern noticed during the past two presidential elections. vice president biden will announce rules on overtime that may give 4 million americans a raise. it may also give them a reason to vote for democrats in november. the rules say that workers must be paid at least $47,000 before they can be considered managers in eligible for overtime. that's twice as much as the current threshold. a powerful new earthquake has struck ecuador, the second of the day. the latest was a 6.8 magnitude 15 miles know her -- miles north 15h

i'm mark crumpton. alix: thanks.ver the weekend and this morning giving investors an update on the biggest global economies are faring. take a look inside the bloomberg , this is chart 1153. both japan and china released manufacturing. japan's number coming in below the 50 level, which is the orange line. china's manufacturing, the redline, appears to have stabilized. in europe, you had a stronger reading in germany, the light blue line. france, the other blue line. i don't know what to make of that. bob, a global strategist joins me in the studio. how do you interpret the mishmash >> mu? bob: two thirds of the manufacturing pmi for below 50. you had contracting manufacturing activity in two thirds of the country and it was more than that on a weighted basis when you have the u.s. and china both the low 50. in the data we got out over the last 24 hours or so, you got about two thirds that are now above 50. not dramatically. china is above. u.s. is above. if you standouts. france suffering from whatever france is suff

mark: i am mark crumpton. you are watching "bloomberg west ."dent obama made history friday in japan. he became the first sitting american president to visit hiroshima, were the u.s. dropped the first atomic bomb in 1945. the president said the bombing shows that mankind has means to destroy itself is president obama: we come to ponder a terrible force unleashed in the not so distant past. we come to mourn the dead, including over 100,000 japanese .en, women, and children thousands of koreans, a dozen americans held prisoner. mark: it is estimated hiroshima blast killed 140,000 people. the president met with those who bore witness to the bombing. survivors praised obama or, as one said, "touching people's hearts." opposing u.s. action in world war ii, the president said the hiroshima bombing "demonstrated that mankind does possess the means to destroy itself." japan's prime minister shinzo abe said he will decide this summer whether to go ahead with the land increase in the sales tax. in the past he said the tax hike would be delayed only if the

i mark crumpton. "bloomberg west" is next. crumpton.k emily: i'm emily chang and this is "bloomberg west." to spinning out a business merge with another company. what it means for the company and meg whitman. toyota gets into car sharing -- it's the latest car maker invest in a ride hailing app. we will bring you the latest of it tied up with uber. and pebble out with its first ever non-watch device. can it move into health tech like the apple watch and should it? hp enterprise shares are surging in extended hours. this is half of the old hewlett-packard still run by meg whitman and focuses on storage and servers. they are spinning off and merging it with computer sciences core in an $8.5 billion deal. the name of the company will be announced at a later date. joining us is our senior intelligence reporter. what is your take away on this deal? is it something that was expected? guest: it wasn't expected, but it makes sense. one part of the entity focused on hardware, predominately servers and then finding a network to exit the

mark crumpton is in the newsroom. mark: house speaker paul ryan says he has not come to a decision on a possible endorsement for donald trump's presidential bid. people close to the wisconsin lawmaker told bloomberg that ryan is ready to end the standoff. they said he is concerned about the split that has developed in the republican party and may endorse mr. trump this week. hillary clinton and mr. trump, both primary winners in washington state. trump's victory moves him to within 28 delegates of clinching the nomination. for misses clinton, there were no delegates at stake. washington democrats awarded their delegates to bernie sanders in march. in washington, a house committee voted to create a federal oversight board to address puerto rico's $70 billion debt crisis. the bill won't be acted on by the full house until after the memorial day recess, and it still faces obstacles in both chambers of commerce -- congress. completeday not be before the june 1 deadline. a united nations report says has reached over 40% of

i'm mark crumpton. "bloomberg west" is next. ♪ brad: i'm brad stone and for emily chang.his is bloomberg west. coming up, apple drops a billion dollar, investing in one of uber's rivals. what this means for apple's current mission and its relationship with the chinese government. pods a stepic closer to becoming reality? we have the details. tesla shifts reduction into ludicrous mode as ceo elon musk promises to deliver half a million cars by 2018. can he get there? we will discuss. but first to our lead -- apple dropping $1 billion on uber's rival in china and it's a big deal for several reasons. this is one of apple's biggest deals ever, second only to its acquisition of beats in 2014. it also came in just teed of president of the company met tim cook only about a month ago. and it could be a public show of goodwill to the chinese government. we will discuss what edge this didi in its battle with uber. brian white defended his buy rating on apple on "surveillance" this morning. guest: it allows apple pay to spread through china. it builds up goodwill with the chinese go

mark crumpton has that from the newsroom. the fbi's investigation of hillary clinton's use of right the e-mail server ball secretary an end. is nearing experts say the investigation will likely conclude with mrs. clinton being questioned. the fbi standard practice is to interview the person or persons at the center of up row. the race for the white house -- at the center of a probe. the race is shaping up to be a contest between the two most disliked candidates in decades. a 60% trump has -- unfavorable rating and mrs. clinton is at 63% -- 53%. highestld have the unfavorable ratings in 30 years. the supreme court is making it easier for federal workers to file employment discrimination lawsuits after waiting their jobs over intolerable conditions. the justices ruled 7-1 that workers who bring so-called constructive discharge claims have 45 days from the time they resigned to begin the process. the court rejected the government's position that the clock should start once the alleged abuse occurs. for drug kingpin el said he ma

mark crumpton has more.c.: two people close to the told bloomberg news that he will and his bid for the white house later today, just a day after the exit of texas senator ted cruz. this cements donald trump as the gop standardbearer and sets the stage for an almost certain matchup against hillary clinton in november. cnn reports that, at the address, kasich is not expected to endorse mr. trump. it's not over, that's what bernie sanders is saying after beating misses clinton in yesterday -- beating mrs. clinton in yesterday's primary. say an agreement has been reached with russia to extend syria's fragile cease-fire to the northern city of aleppo. a deal was reached yesterday and took effect at midnight in damascus. officials have seen a decrease in violence since then, but they acknowledge that violations persist in some areas. this agreement follows an earlier deal to reaffirm the truce in the damascus suburbs and the coastal let's talk yet -- coastal latakia province. still, about 3% of students aged 12 t

more "bloomberg west" next. ♪ mark: i'm mark crumpton. begin with a check of your first word news. president obama says he plans to use his historic visit to hiroshima with the japanese prime minister to reflect on the suffering of war. president obama: our visit will honor all of those who were lost in world war ii and reaffirm our shared vision of a world without nuclear weapons and highlight the extraordinary alliance we have been able to forge over these many decades. the japanese prime minister says he has no plans to visit pearl harbor. a house committee voted to address puerto rico's $70 billion debt crisis. the ill will not be acted on until after the memorial day recess and faces action in both chambers of commerce -- of congress. it may not be ready in time for puerto rico's debt payment. news is suing over a directive of transgendered students in public schools. it accuses the administration of running roughshod over commonsense policies that protect children. i'm mark crumpton. it is just after 6:30 in new york. 30 on thursday

mark crumpton has that in the newsroom. chief investigator says the search for the plane that crashed last week, killing all 66 people on board, has narrowed to a three mile wide area in the mediterranean sea based on signals from the plane's begin. teams clarified that the beak and information was from the day of the crash and no other -- beacon information was from the day of the crash and no other signals have been received. china endured heavy rains and -- galece winds in the force winds in the first storm of the hurricane season. the weather is expected to last until saturday. it has now reached the western part of the province. has died andperson three others are missing after flooding andought mobile homes washed away. there have been more than 50 rescues since the rain started yesterday morning in austin. in tennis, rafael nadal is out of the french open. he is left-handed and says he injured his left wrist. 24 hours a dayid powered by 2400 to journalists in more than 150 news bureaus around the world. david: janet

i am mark crumpton. carol, back to you. carol: mgm resorts international out with its latest earning results today. shares are higher. the company beat earnings estimates with a positive forecast for business in las vegas. someompany is facing challenges in china with net revenue down 26% year-over-year. joining us from las vegas is the chairman and chief executive of mgm resorts international. nice to have you here. talk about the quarter. down, neted revenue income if you look year over year was also down a bunch. is it all because of china? >> china was down, and we had some gains last year and a higher tax rate this year that impacted net income, but the most of our money of course is made here in the united states, and we had a monster quarter here in las vegas, which is why we beat the streak. carol: can this monster quarter continue? >> it can. it is. strong april. we gave clear guidance in terms of the current quarter, and we see this las vegas market growing rapidly for all of our competitors as well as ourselves.

i'm mark crumpton.re watching "bloomberg west." let's begin a check -- with a check of bloomberg's "first word" news. they are ready and prepared to go back to the table a minute a cessation is in place. with these new mechanisms and the minute that the humanitarian blockade is opened up. mark c.: the meeting was held as deadly attacks in the northern city of aleppo continued. ted cruz faces a make or break moment for his campaign. he is in a desperate bid to overtake front runner donald trump in tomorrow's indiana primary. trump is the only candidate in the race who can reach the 1237 delegates needed. bernie sanders says, by the end of the primaries, front runner hillary clinton won't have enough players delegates -- pledged delegates to win that convention. it could result in a contested convention. global news, 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. i'm mark crumpton. paul allen is in the australian capital as the country's treasurer begins --

from bloomberg world headquarters in new york city, i am mark crumpton.: facebook has concluded there is no evidence of bias against conservative stories in its trending topics unit, but questions over its power in media persist. facebook maintains trending topics are determined by algorithms, but humans make the algorithms and certain decisions in the process. joining me to discuss, one of those humans, jonathan koren, a former facebook software engineer who worked on the algorithmic system for the trending news section. he joins us from beijing. with me in the studio is mark milian. thank you so much for joining us. what exactly was your role in the trending topics group? jonathan: i worked on the algorithmic personalized ranking. for those who have not been following this completely, people are kind of in the middle of a three-layer sandwich. there is the algorithmic portion that determines what kinds of topics are trending and people go through that list and decide, yes, this is one we want to potentially show to people. the third layer was my layer,

mark crumpton has more from the newsroom. a large power outage in downtown seattle washington that apparently was caused by some sort of equipment daily at a substation. early indications are that it will take a couple of hours for the power to be restored. we will bring you more details as we get them. donald trump planning to hit hillary clinton with yet another scandal from her past -- the whitewater real estate deal. campaign adviser e-mailed the republican national committee requesting material on mrs. clinton and whitewater. the scandal which dates back to the 1970's was investigated by congress when bill clinton was elected president, but the clintons were never prosecuted. americadirector says has a peculiar indifference to the rising number of murders across the nation. he spoke at the 16th street baptist church in birmingham, alabama, scene of one of the most notorious crimes of the civil rights era when it was in 1963. for black girls attending sunday school were killed. this was part of the birmingham institute co

let's get our bloomberg first word news from mark crumpton. par -- houseegel speaker paul ryan says uniting the republican party with donald trump will not happen overnight. going to get into the day to day up and down of this campaign. i am focused on policies and principles and unifying our party. we just began this process and it is just underway. poll says most people trust donald trump to lead the gop then paul ryan. a new poll shot -- finds voters want hillary clinton to select bernie sanders as her running mate. elizabeth warren was second with 19% according to a rasmussen support survey. castro.s julian in the moments before an amtrak train went off the rails last year, the engineer was distracted by report another train had been hit by a rock. that is one finding by federal safety investigators. eight people were killed. they said a key backup safety system was not in place that would have provided a technological safety net. the world health organization says while worries about the zika virus are on the rise, it does not recommend c

i am mark crumpton. bloomberg news is next. anna: emily: i'm emily chang, and coming up on bloomberg west, private investors and had an insatiable appetite for shares. but it secretive, private stock fell. a look at what happened. and shares are through the roof after fine materials beat on quarter to earnings. and can instagram take on the likes of amazon and google? we will speak to the ceo as competition in the greater delivery market heats up. but first, to hourly. the private tech stock has called off an opportunity for everyday investors to buy uber shares. a spokesperson for the company said it became clear the minimum funds would not be selected for this deal, and as a result the sales team began to inform interested clients about this fact. here is how the transaction would have worked. investors shell out for a small stake, until of their goes public organs acquired -- uber goes public organs acquired. we get a glance into the increasingly complicated start investing. looking to buy hot tech startups before ipo. uber

i'm mark crumpton. it is now 6:30 in new york city.has a look at the markets. >> good morning. beis not really seem to leaking through to the asia-pacific. we look at new zealand. it is off 1/10 of 1%. crude oils strengthened. it was down to $63. also in australia, we are awaiting on the fiscal outlook. there is no nasty surprises afterwards. that will have an impact on that as well. we are now below that. over in japan, g7 finance ministers are focused on boosting growth. that is some of what we watching. i'm paul allen for bloomberg tv. ♪ >> this is bloomberg west. i'm emily chang. to find theping right to be forgotten decision. last year, the commission ordered google to leak search -- googleat led to announced that the it would avoid -- add geo-blocking technology. sticking with google and shifting our search back, google's annual developers new mence unveiled the box. this is google's way of stepping up the competition. i got an exclusive first look. >> it is the biggest entertainment market in the world. show me how it works. thi

i'm mark crumpton.ice president biden has not endorsed either of the democratic presidential candidates, but in an exclusive interview with abc news, he shares his views on who will win the nomination and the race for the white house. >> you bring up the next president, we are anxious to see . vice president biden: ifo confident hillary will be the nominee and that she will be the next president. mark: the vice president decided not to seek the white house. breaking news on disney earnings. my colleague scarlet fu has details. scarlet: it is amiss for disney for the second quarter. missing the analyst estimates of $1.40, comparing with $1.23 in the year-ago period. a little bit shy when it comes to where analysts have been looking for adjusted earnings per share to come in. revenue for the second quarter, $13 billion, also lighter than what had been anticipated. analysts were looking for $13.2 billion on the number has come down in the days leading up to the earnings report. media revenue -- this includ

mark crumpton has more from our newsroom.ntracted companies to help locate the flight data recorders from the flight that crashed in the mediterranean sea. 66 were killed. a french and italian company will be working with egyptian search teams to try to find the black boxes, which could give clues as to what happened to 800 four and its final minutes. a state department audit blames hillary clinton and previous secretaries of state for poorly managing e-mails and other computer information. that is according to the associated press. it cites "long-standing systemic weaknesses related to communications. these started before misses clinton's appointment as secretary of state." more troubles for the embattled department of veterans affairs. the agency mistakenly declared thousands of veterans dead, canceling their benefits between 2011 and 2015. there's ea has reportedly acknowledged its mistake and changed the process for confirming deaths. close to 400 refugees arrived in sicily today. they were found on rubber dinghies two da

crumpton david: good news for the housing sector. purchases of new homes in the u.s. surged 16% in april, the highest level since the start of 2008. the data points to a robust spring selling season. i want to bring in brad friedlander. a big issue for a long time here has been inventory. brad: this was big news this morning. a point of real untapped potential. best we had seen home prices doing well, but what la gged here was builders. issue,ries has been an the demand is there. whether it be regulatory issues, financing, those have been hitting the industry hard. infusing nicet of energy into gdp from the housing sector. david: what prompted builders to adjust at this point? the sentiment -- brad: the sentiment has been there. they've felt confident for some time. to see thoseing early signs that this was something here that represented that housing can help the economy. seeing this beginning to stir this morning is good news. you have the average price growing faster than the median price. brad: it's a question of geographics more than anything. you've had certain

i'm mark crumpton. "bloomberg west" is next. emily: i'm emily chang. this is a special edition of " bloomberg west." we are in district tall. we will be spending the next to the techiving in companies that call boston home. now the city is getting another huge boost from ge as it fromates its headquarters connecticut to boston's growing seaport district, not far from where we are now. mind ofhapes the current tech leaders -- but the city is working to improve its elf. i want to start with a look at venture capital and the funding environment because a number of top vc's are based here. from nass challenge -- a not-for-profit headquartered in boston -- our guest. $5 billion with over $500 million in revenue. and my cohost for the hour -- gentlemen, thank you for joining us. so, i will start with you. you have been on the show before. it is good to be in your neck of the woods. you guys invested in tech. what is it like to invest in when the heart of tech is in silicon valley? >> i live here. i commute quite a bit. it's smaller, but is very exciting. whe

i'm mark crumpton. back to you. undert: stocks are pressure today.est says the pullback is just beginning and sees an .nitial report the: if we take a look at chart of the s&p, what kind of downside do you think we will see? around 2000. that has a psychological difference as a round number. that is realistic as a target for a correction. scarlet: what do you need to see as far as confirmation signals? short term, the pullback we have seen so far. it comes after a failed breakout . there's nothing worse than a failed breakout from a technical standpoint and that is what we have seen. momentums the loss of turned into an intermediate loss of momentum. clearly, it was quite overbought. alix: scarlet: i want to -- alix: i want to bring up the 50 day moving average. there.ike right right on the 50 day. what kind of acceleration to the downside can we see? guest: the 50 day is a great gauge. i think we can expect the same out of the s&p 500. as the breath of this move expands to the u.s., it's a loss of momentum. it does support downside follow-through. y

mark crumpton has more. mark: thank you. the presumptive presidential nominee's arnold trump and the house paul ryan met against the backdrop of a party split after what ryan has called a bruising primary season. the speaker told reporters there is a policy difference but that he and donald trump share the goal of beating hillary clinton in november. mr. ryan: i'm encouraged and i've heard a lot of good things from our presumptive nominee. we have exchanged opinions everyone knows we have. plenty of republicans disagree with it other on policy disputes but poor -- but core principles those are the things we discussed. mark: mr. trump held back-to-back meetings on capitol hill. first, speaker ryan and reince previous. then he spoke with kevin mccarthy. from plans a second meeting with gop leaders this afternoon. wall street is betting on a democratic presidential candidate. in the first quarter, hillary clinton $.70 of every dollar spent in the presidential race by employees of the six largest banks. a turnaround, jeb bush an

i am mark crumpton, back to you. scarlet: as julie was telling us, today's solid retail sales numbers of 100% in april, not doing much to risk -- lift risky assets. the s&p 500 is down since tuesday's big run off of about 1.25%. alix: was that had fake, and is the path of resistance pointing downward? our next guest says the answer to both of those is yes. us, every morning to give a great technical review of what's happening in the markets. why do you think the s&p has more downsides to go from here? cory: a couple of reasons --matt: a couple of reasons. everyone is looked at the transportation index. this has been particularly good this time around, because this is an early indicator last year when it rolled over early. it was an early indicator this year since it bottomed and january the month before the rest of the market did. it started to roll over. made -- it has been a sideways range for about two months. it broke low that range yesterday. and a little bit this morning. this is only a slight break. this has b

i'm mark crumpton. back to you.banks in canada have reported second-quarter results and a major concern going in was provision for credit losses linked to the energy industry. alix: however, canadian banks have largely proven their doubters wrong once again. we are joined by pamela ritchie who joins us from toronto. how did they do that? pamela: diversification is the answer. toronto dominion bank is the second-largest lender in canada coming in with profits that are reliable in terms of beating or meeting estimates. they did not disappoint. the profit grew by 10% and they beat expectations. they did raise their provisions for credit losses but that is less than what some of the estimates had been. rbc raised their provisions by 12%. the bank of montreal raised credit provisions but not by as much, so all of them are concerned about the credit side of things and they have raised divisions but they are not as high as some people thought they would be. loans thate their had soured sore through the quarter, but the ban

. >> mark crumpton has more from the newsroom. mark: the republican presidential nomination is in hand for donald trump. ofthe horizon, the selection a running mate. trump said he asked next women to be vetted for his vice -- vice presidential candidate. mr. trump: we are looking for absolute competence. i suspect we will have many women involved, not only with the campaign i've had, but many women involved. you will see that very strongly. mark: trump said he would be willing to debate bernie sanders couldat such an event raise millions for charity. election results has not changed the outcome of the kentucky presidential primary. sanders says he except the outcome and will not ask a judge to order a recount. in baghdad have killed at least 12 people. baghdad, whereof a house exploded as security forces entered during the search. man was intercepted at a checkpoint before he could detonate explosive strapped to his body. the republican controlled house is moving in toss of -- zika virus. toward ae progress compromise. fight theea

. ♪ >> i'm mark crumpton. let's get to first word news.he agency will add 768 new screeners by mid-june to deal with the long airport security lines. several factors had contributed to added wait times including more passengers and a shortage of applicants for the applicator did -- expedited screening program. hillary clinton is blamed for poorly managing e-mail and other computer information. it cites long-standing systemic weaknesses. the started before mrs. clinton's tenure but her failures were singled out as more serious. the romanian hacker who accessed the computer accounts of the bush family and others has pleaded guilty to identity theft in federal court. he admitted to unauthorized access of a protected computer. he is best known for hacks that reveal bush family photos and tointings connected george h w bush. the hacking led to the revelations about mrs. clinton prim private e-mail account. at a news conference with prime minister shinzo abe the president discussed a scheduled visit friday to hiroshima which was leveled by a u.s

. ♪ mark: i am mark crumpton, you are watching bloomberg west.security officials say egypt airfest for eac flight 104 contained no known names on the terror watch list. official status too early to tell what brought down the terrorist to cairo flight on thursday. it has six seasons people aboard. -- 66 people aboard. the reclaiming of the small western talent by iraqi forces is being seen as a symbolic morale booster. islamic state had occupied the town for the past two years. the iraqi army says the main road from him on to baghdad, a significant economic lifeline for iraq american now be reopened. european union nations have agreed to make it easier to suspend its visa waiver program with some countries. it comes as turkey is trying to secure visa free travel for his citizens. the so-called suspension mechanism when called into play to ensure security. it would apply to georgia, ukraine, kosovo, and turkey. british prosecutors say the man who climbed over a buckingham palace wall and wondered the grounds or 10 minutes on wednesday was a convict

david: let's check on the bloomberg first word news with mark crumpton from our newsroom. ryan house speaker paul says efforts to unite the republican party with donald trump is the presidential nominee won't happen overnight. : i won't get to the day to day, up and down on this campaign. don't get in the habit of thinking what is up and what is down and what article is here. i'm focused on parties and principles in unifying our party. we just began our process, it is well underway, and that is what we're focused on. about a pollked that said voters asked -- said trump could lead the party. he said the person is going to get the nomination of our party is the person to lead our party. the house armed services committee has stripped a provision from the annual defense policy bill that would have required women to register for a military draft. a top democrat on the panel is against the move. but republican pete sessions of texas, the rules committee chairman, says he is opposed to color thing americans -- america's daughters to sign up for a potential draft. defying the whi

i'm mark crumpton. scarlet, back to you.we are now brazil where we have heard that beendent dilma has impeached. we go now live to brazil and what to expect president temer to say right now? >> you are right. he has gathered just about a half a mile away from me right now and he is swearing in his new cap it i think what he expects is to give a speech that will try to unite a nation which this has united and been very traumatic for the fiercean people with a battle between dilma rousseff and michel temer. he will also try to down scale expectations somewhat. there is no easy way to face the economic challenges that brazil faces. deficit in the worst a decade and unemployment is on the rise. it will be a very tough half -- tough path for him to follow. scarlet: these are forecast for 2016 and the weight line is the gdp forecast. gdphe white line is the forecast. this shows that rock-and-a-hard-place situation that brazil is in right now. michel temer moved pretty fast to get a new cabinet. what is the significance of the info

mark: i'm mark crumpton. you are watching "bloomberg west." opposed to the impeachment of the president -- president locke wrote today. on monday, the leader of the country in delegate -- invalidated the decision. opposition activists say at least 10 people are dead and several others wounded following two airstrikes in northwestern syria. the air raids came hours after a cease-fire was extended for another 48 hours. vice president biden has not endorsed either of the democratic candidates but he tells abc news who he thinks will win in november. >> we are all anxious to see -- >> who she is. i feel confident hillary will be the nominee and will be the next president. mark: mr. biden's comments go further down -- further them president obama. donald trump says he has narrowed his list of potential running mates to about five with deep resumes. he says he has not ruled out new jersey governor chris christie, who has been chosen to head trump's transition team. global news 24 hours a day powered by our 2400 journalists in more than 150 news euro

i am mark crumpton. alex: let's get a recap of today's market action.tocks slumping to a one-month low. the dollar climbed on a better-than-expected sales report. financials were the biggest laggards but retailers continuing their high-performance of tumbling because of those different -- disappointing results. we're going out fairly close to the lows of the day. alex: you have to wonder how much more downside and surprises there in the retail sector. it is a queer understanding these guys have a serious problem. i did some calculations that media stocks fell 17% after disney had that bad summer, the quarterly report that can the summer. i would kind of echo that and investors re-rate with the thing. it could be meaningfully impacted. we also have walmart and target with a report out so we have another glimpse of the consumer and how strong he or she is. be up for an might upgrade from moody's. take a look at the yield on the irish 10 year bond. you can see there it has con -- come down and picked up a little bit this month but certainly a huge improvem

i am mark crumpton. back to you.t: more on breaking the jury reaches a verdict that google of developed this without oracles use of java. cory johnson joins us with more. what was at stake was a $9 billion slice of google's android business that oracle no longer has claim to. reporter: it is interesting because oracle acquired this, they said during the trial, one of the reasons was the pile the desk all you take be placed on java. it is an open language and shared. the entire order of job required licenses. android was built entirely on java. they did it without requiring a license, oracle top had a big claim to that. just thought they had a big claim to that. oliver: so what will oracle miss out on, a lump sum payment? $9 billion. they spent a lot on the trial as well. this was the second trial. the first was also, it was not with they wanted. they got kicked back to court, same judge, overseeing the trial once again. so this means oracle cannot pursue other arrangements and other suits. it will be harder for them.

from the bloomberg news bureau in new york, i'm mark crumpton. "bloomberg west" is next. ♪ emily: i'm emily chang and this is a special edition of "bloomberg west" in boston where we are surrounded by 1500 government and civic leaders for the annual meeting of the chamber of commerce. --come to those turning in tuning in on television and those here in boston. a huge discussion topic is the growing tech infrastructure. we will hear from the person who helped spearhead the move to boston, mayor marty walsh. first, we want to begin with biotech because while boston may have fallen behind look on valley in internet startups, it is holding its own in this sector. massachusetts gets more than triple li na of funding from the national institute of health in california. venture capital funding also spiked to a record $2 billion last year. the area we want to focus on his cambridge, home to 180 tech companies and all five of the top london hospitals in the united states as well as harvard and m.i.t.. our next guest comes from the isrt of that area and fo

mark crumpton is in the newsroom. mark: north carolina's bathroom log could cost the state i billion dollars annually. -- $5 billion annually. that is from a new ucla law school study. they could lose federal grants and contracts. in addition to the $40 million in business investments already withdrawn. the u.s. senate wants to undercut the nuclear deal with iran. fetters stopped and amendments that would have prevented the u.s. from buying anymore heavy water, which is not radioactive but does have research and medical applications. it can be used to produce weapons and make giant. surge prints. they saw him on april 7 and april 20 before he died. they prescribed medications but it is unclear if prints took them. they came to the day of his death. federal and local authorities searched his basement. a threat from a top aide to turkey's president rest of air to one -- air to one. it is not allowed turner's construct -- travel. they will agree to take back refugees. the european parliament debated the issue today. a gr

♪ mark: i'm mark crumpton and you are watching "bloomberg west."taly joined the rest of europe and extended legal protections to gay couples. the countries lower chamber of deputies gave final approval to legislation that italy's senate passed in february. the stopped short of authorizing gay marriage. islamic state is claiming responsibility for a series of at least on today in baghdad. the blasts left 93 people dead and over 160 wounded. the targets included an outdoor market and police station. house speaker paul ryan scheduled to meet tomorrow with donald trump. ryan said today that republicans have some work to do. >> we go into the fall at half strength. this election is too important to go into an election at half strength. we need a real unification of our party. mark: last week, the speaker said he was not prepared to endorse trump's candidacy. arson is to blame for a fire at a fertilizer plant in 2013, causing ammonia nitrate to ignite. the blast destroyed more than 500 homes. global news 24 hours a day, powered by our 2400 journalists in

i'm mark crumpton. emily: i'm emily chang and this is a special edition of bloomberg west from the storied m.i.t. media lab in cambridge, as it use its. it's the birthplace of so many innovations like touchscreen devices and gps. we have spent the last few days speaking to the entrepreneurs and investors driving the startup scene and heard from the cities established layers in robotics and i/o tech. the next hour going behind the scenes to where the ideas are conceived. the media lab specializes in anti-disciplinary thinking, looking for misfits and rebels, working on ground breaking products no one else would take a risk on. other ideas that got their start here, the precursor to google street view and one narrow by all it is here just one mark zuckerberg's breakthrough price. the media lab is pioneering research in biology, agriculture, urban living and more. m.i.t. sits at the heart of some of the most cutting edge in robotics with companies like boston dynamics and irobot. this lab has strong corpor

carol: mark crumpton has more from the newsroom. mark: facing the growing backlash over extremely long airport security lines, the head of the department of homeland security says the transportation security administration will speed up the hiring process to do with the upcoming summer travel season. >> we have expedited the hiring tso's. we expedited the hiring of those to bring a month this summer. projected by june 15. facingeople have been growing lines topping 90 minutes and airports. the shifter $34 million to hire 800 screeners is not good enough. they won 6000 workers hired. a senior republican lawmaker said he will unveil additional funding to battle the zika virus. harold rogers said the anti--zika virus measure will be financed at cuts elsewhere. the measure is expected to provide less than a bipartisan $1.1 billion senate measure that was released yesterday. donald trump has picked up what could be a very lucrative endorsement. a casino mogul said he is backing mr. term for president. he said the alternative to mr. trump

>> i'm mark crumpton. you are watching "bloomberg west." house speaker paul ryan will not support donald trump's nomination, at least not now. ryan, the 2012 vice presidential readye told cnn, "i'm not to do that at this point. i'm not there right now." he continued saying, i think what is required is that we unify the party. former republican presidential nominee mitt romney will skip the nomination in cleveland -- convention in cleveland. in march, mitt romney delivered a blistering attack on donald trump, calling him a phony and a fraud. donald trump has called romney a choke artist for losing the 2012 election. in canada, alberta is under a state of emergency. the declaration comes as crews with to hold back wind, wildfires that have already torched 1600 homes. officials say there are 490 -- 49 wildfires, seven out of control. more than 80,000 residents have fled. no word on injuries or facilities. -- fidelity's. at least 20 people are dead, dozens wounded, on a syrian refugee camp near the border with turkey. hundreds fled, including f