the data. those are derived from the data simulation component in our model. >> i'd like to recognize the ranking member of the full committee miss johnson for five minutes. >> thank you very much, mr. chairman. dr. busalacchi, i think what i'm hearing is the nws and the u.s. best work together and are at their best working together. is that right? >> that's correct. again, i think a unique strength of our approach, the u.s. approach to the nation's weather enterprise, is when the government, the private sector, and the research community are working together, all towards the common purpose. that's correct. >> i have seen a great improvement in weather predictions. and i hope that will continue to improve because i've also seen where it saved a lot of lives even though in many cases there might be property destroyed. lives are being saved because of those projections. and people have time to get out of the way. we also talk a lot on this committee about changes killing jobs. and i'm trying to f

what we're really good at, taking whatever the data is, your customer's data, third party data and figuring out what kind of decision you're going to make with that data. we think of ourselves as a decisioning company and it's all about what decision you're trying to make and what's the best data to predict that decision and where the analytics that help you get from the data to the decision. scores are one way of doing that. that's one small way of doing it. but we're in all kinds of places, we have a big fraud detection business. when your credit card gets evaluated for is it you or not? we have a 90% market share in credit card fraud transaction, fraud detection. >> in your analytinalytics, bus can you name a real live fortune 500 company that you work with to help you make a decision with your data -- >> ten of the top ten banks in north america use our predictable analytics software extensively. >> lending decisions? >> lending decisions and some we have big retailers that use us for making marketing decisions. >> i see. >> if you are that good at -- if past behavior predicts future ac

they collect data from the oil well, they have telemetry data from the oil well and bring in a lot ofee how much they invest in it, how much have they been able to produce for it and get a full picture of the oil well and the full profitability. >> when oil's at 100, you can drill anywhere and you make money. if oil's at 47, you don't want to drill if it's a $60 well. >> when i look from a maintenance perspective, when i look at the track record of what this oil well is, they're able to gather that data and make some very important decisions on what they need to do to keep that oil producing. >> we keep hearing another thing in the big theme is artificial intelligence. how would informatica play. >> we bring the data for intelligence. so think of this nordstrom example. once you have the complete picture of the customer, then you can use the artificial intelligence on top to provide a recommendation to the customer. you can say hey, you bought this, you may also be interested in these other things. or in the conocophillips example. is this well going to be operating till its next mant

not just use data leaves practice-based data as well as data that comes from other places. some of our data is localized or cultural or specific to populations. so, it's not just about big data but qualitative data, all kinds of data that contributes to us improving practices. if you target resources and coordinate our budgets already said what can be said enough, it's not just about adding resources but coordinating our resources. that we have to look at gaps in coordinating our service delivery and look for redundancies. training staff. we talked about a lot of the fact there's training going on all over the city but often were trained people on the same things and will would be like if it was a common curriculum for folks that work with children youth and families across the city as well as specific curriculums in our departments were ceos were education, so we can coordinate training across the city which would both be efficient and develop a common language and common principles across all workforce. given our workforce often moves from our agencies to the other at bes

data sexless, means unisex but not -- absolutely not. not talking about reproduction of data. have a lovely weekend. that's it for today's show. wearing powerful sunscreen? yes! neutrogena® ultra sheer. unbeatable protection helps prevent early skin aging and skin cancer with a clean feel. the best for your skin. ultra sheer®. neutrogena®. >>> good morning. it is jobs friday. will the u.s. employment picture be what pushes the fed over the top on a rate hike decision? the arguments straight ahead. >> should they stay or should they go? uk prime minister david cameron fields questions from a fiery live tv audience, including being accused of scare amongering. his comments coming up. >>> the warriors win game one of the nba finals. it goes to golden state. if you went to bed early, we'll bring you the highlights shortly. it is friday, june 3rd, 2016. "worldwide exchange" begins right now.

not just use data leaves practice-based data as well as data that comes from other places. some of our data is localized or cultural or specific to populations. so, it's not just about big data but qualitative data, all kinds of data that contributes to us improving practices. if you target resources and coordinate our budgets already said what can be said enough, it's not just about adding resources but coordinating our resources. that we have to look at gaps in coordinating our service delivery and look for redundancies. training staff. we talked about a lot of the fact there's training going on all over the city but often were trained people on the same things and will would be like if it was a common curriculum for folks that work with children youth and families across the city as well as specific curriculums in our departments were ceos were education, so we can coordinate training across the city which would both be efficient and develop a common language and common principles across all workforce. given our workforce often moves from our agencies to the other at bes

data. new numbers show investors pulled another $4.7 billion from stock funds in the latest week. lipper, which reports the data, says this marks the 12th straight week of cash withdrawals. but u.s.-based stocks etfs brought in $3.9 billion, the largest inflow since april. and lower risk money market funds, they attracted $7.7 billion in capital, that was the sixth straight week for money market funds to bring in new cash. >> mays with a rough month for pimco's total return fund. investors pulled another $1 billion from the fund after cash withdrawals of the same amount the previous month. it has now posted 37 straight months of outflows. >>> in corporate news, facebook's board is looking to curb mark zuckerberg's majority voting control should he exit management in the future. in a proxy filing with the s.e.c., facebook said it will ask share holders to vote on a proposal that would convert the founders class b shares into class a shares if he's no longer in a leadership position. the soci

not one data point on friday.hich includes the fact that the pace of improvement cannot continue, not because of the demand side. this is a recessionary signal because we are not creating as many jobs, but there's two sides. one is supplied, the other is demand. we are seeing constraints on the supply side. she can emphasize that. the other thing that is missing here, we are seeing wage growth. strengthening the in the wage picture. is thet important one atlanta fed wage tracker, the best indicator for tracking wages. piecesl highlight those to make the case of an eventual but gradual increase in normalization. n: it is a global story, but a u.s. domestic story as well. you get a data point like this that pushes us all back again -- are we going to continue to be with sword -- with sword -- whip sword? jeff: it's about the global story in terms of low interest rates. with the ecb and mario draghi and expectations around qe come on the long end of global interest rate yield curves, there is further pressure downwar

data was sidestepped by investors. retail sales rose 0.5% in may pointing to solid consumer spending in the second quarter in the u.s. that was pretty much ignored. >> all this uncertainty in the bond market, in equity, looks like we're seeing something in currency as well. tell us what's going on there. >> we've seen the reaction in bonds as you clearly mentioned there. look at the currency. stubbornly strong. i'm talking about the yen against the dollar. the two-day federal reserve policy meeting ends later on wednesday. many assuming the next rate rise would be later, perhaps july or september. one can never really forecast what a central bank may do. they will be looking and listening out for any language that coming out of meeting. the british pound is lower against the dollar and the yen. you're looking at the pound against the dollar there. sterling hit a two-month low against the u.s. dollar. 1.4118 right now. commodity prices, especially oil will have an effect. we've seen key benchmarks dropping since hitting

the data does not support that.w do you adjust for the increasing role of stock options and equity in people's income, particularly at the high end, silicon valley. where does that go into the calculations? >> those are initially going to show up as labor income to the executives, and lower-level employees as well who get them. after they exercise them and have the stock, once it is shareholder income, it shows up as capital income. labor and both as capital income depending on when they get exercised. there is this common story that the internationalization of labor and the rise of technology, computers have been good for capital owners, not so good for workers. your data contradicts that. i'm curious why. why hasn't the internationalization of labor and the rise of technology been this boon for capital? if the data does not bear it out, what is wrong with the fundamental story? >> we have a competitive economy. unions try to wall of sections of the economy from competition. there are sort of mini-labor cartels. it

how do you gauge all of the economic data pouring out? asked the good news is with the economic data, we will either revise it or get another update. i thought the tricky one, or the more interesting one, was if you we areces paid, continuing to run hotter than analysts forecasting. the concerns. we talked about wages and the rate rising, the consumer willing to stand and the sales willinglast month, but to his then we get auto data this morning, which looked weaker areas i think you can come up with a narrative where the news is tricky but positive. it beingsting to see used to three times in a six page summary. it seems to me the fed is ready to call the trigger. nothing is pretty much stopping them. is that what -- is that how you would take it and how do they position themselves? what you do here? >> there are two for us to the question. talking about forward guidance, we will give you a clear path and a checklist comes whether it will be an inflationary target, unemployment target, and it feels like they are reverting to the traditio

so what does data say?first of all they say that you should erase from your mind if you are thinking about the face of the student debt crisis is, you should erase from your mind the image of a yale graduate or an nyu graduate or a columbia graduate or even a un graduate. anyone graduates with aba is relatively unlikely to default so folks who graduate have quite low default rates. the default rate also drops the school selectivity so the more selective the school is, the lower the rate of default for schools like um and harvard and columbia, about five percent is what the default rate is so that's what it was before the recession, that's what it was during the recession rated folks who graduate from elite schools are pretty well buffered from economic distress. not everybody but we are talking about averages and tendencies. so who should you? you also should not think of photo are going to graduate school so people who graduate, i know you don't like that but the question is whether it's the face of the cr

the chinese data today will be closely followed and australia, and the key data point will be importsh. whilst we still expected to be an negative year on year territory, the market expectation is for that negative percentage growth to have been trimmed from the prior month, and there is increasing signs that there may have been a bit of a step up in demand in china over the past week or two for commodities. we have seen commodity prices bounce back a bit, iron ore prices gaining over the past couple of days. the chinese iron ore imports will be a key component of that chinese trade data report today. it could have a big bearing on where the aussie dollar trades. well, absolutely, and many other people looking at the export side of trade data as well. it should be a snapshot of the global economy as well. >> certainly. is also expected to be in negative year on year territory, and it does not look like there has been a dramatic pickup in global demand to boost chinese exports that substantially, so there's probably not a lot of hope in there. ishink the main takeaway that we should se

at the same time, they're data dependent. they're on the path but data gent.t's like -- >> but data dependent, i agree 101%. >> they only raised rates in december because they backed themselves into a corner with that language. >> you're going to move on every piece of data, right steve or lindsey or whoever? if we god help us if the fed is going to situate vote every time we get a weak or strong number. it's ridiculous. >> the important conversation we have not had as much as we should have and that is if the fed wants to hike, it better make a case that excludes or otherwise is able to withstand the volatility in the data. it has to be a water case. >> hold on. here's the thing. to your point, the national association of business economists comes out with the survey they do every couple months and now they raise the questions about whether or not there is a concern about a potential recession in part because of the election. i mean, we may be getting back to the point where the fed missed the window completely and now we're talking about a much weaker econom

to be able to have this very high quality data, combined with traditional data science, we are able toerate accurate predictions. when stylists are making selections, the stylists can have a high degree of knowledge about what is likely to work. emily: what can you tell us about how many customers you have, and where the customers are? one of the things about stitch fix, i have friends in the middle of the country who are obsessed. it seems to have a broader audience. >> absolutely. we have a very broad audience. today, we are focused in the u.s., but we ship to all 50 states. what is amazing about the concept is that what a 19-year-old will get in her talks would be different from a 60-year-old. this level of personalization we are doing to address people on a one-on-one level, means we are able to address a much broader swath of customers, then a traditional retailer trying to push anesthetic. emily: other subscription box companies have had trouble. how is this sustainable? >> we don't associate ourselves as a subscription company. you can get it à la carte if you like. every time y

we're working hard on defining all the data. that takes a huge amount of work and patrick is leading that work putting together the teams making sure we have the data analytic support we need to do this work, and then the other thing is take a step back and make sure that all of our initiatives especially in primary care are well aligned with where prime is asking us to go and that's been something of a challenge because we have a lot of different initiatives so to bring them together and say they're the true north. they align with with prime and gpp as well as black and african-american health and some other important drivers of improvement in hour network. this is the vision for primary care. prime and the global payment program as well as whole person care and the dental initiative are huge programs that take a lot of work that we're struggling to keep up with you know creating data systems to be able to report and improve on 57 different metrics but as i mentioned earlier all of us working on this feel this is the right way

but what really happens to all that personal data when you hit delete? >>> facebook making strategic changes. it has proposed removing ceo mark zuckerberg's majority voting control in the event zuckerberg decides to exit management at some point. in an s.e.c. filing facebook's board plans to ask shareholders to vote on the measure. this all comes as viacom's directors and its controlling shareholder fight for control of that company. >>> for many of us, our smartphones hold some pretty sensitive information. but what happens when you hit delete? where does that information actually go? turns out it may still live in the phone. and the recent debate between apple and the government regarding the unlocking of cell phones raises some questions. like who, if anyone, has the right to unlock your cell's secrets? andrea day has the story. >> it's actually a treasure trove of information. >> reporter: where you go, what you like, and how you sleep. >> often this data lives in places on the device that the owner can't see. >> reporter: and if a crime is committed

you do not have time to bring all that data back to a data center, process it, and end it back out.hink about an autonomous driving car -- that car is making decisions real-time about data it is collecting. even one second or half a second latency will not be good enough, so we see big opportunity about compute at the edge. wireless lan at the edge, so we think it is a big opportunity for us. in stages, but we think it is perfectly matched to bestore dna of being the in the world. compute at the edge has to be small and has to have very low power consumption. you spent a lot of time talking about cloud so far at the conference and amazon is putting so much pressure on everyone, especially hardware makers like yourself. given that, how much growth do you really see for hpe in the long-term given how much pressure amazon is putting on the entire industry? whitman: i think this is a 1% to 2% to 3% growth rate category overall, but there are real pockets of growth. as i said, compose of infrastructure. change is the name of the game for infrastructure as we think about private cloud. no

the data has been improving.cted in oil prices and stocks are near all time highs. the fed has indicated in communications that it's inclined to continue the rate hike cycle and of course last summer that got derailed because of market selloff. so i think we'll all be looking to see how markets bounce off solid data against the fed inclination to begin hiking will be the key drivers. >> rich that sounds relatively relaxed. even slightly positive. today you would say pimco releases its secular outlook and you say only the -- sounds much mature more severe and any positivity we're seeing is really only based on loose policy and not on fundamentals. >> the key point is that the global economy appears stable but we think that stable masks some insecurity. the global outlook has only been supported by quantitative easing, zero or negative interest rates and so borrowi i binge in some economies. beyond that where he think investors should be aware that this slow growth environment has risk to the downside and upside. >

we watching wage data very closely. what you have seen a number of surveys recently is inflation expectations. >> history has always been the best start in the best start in they go too much and too fast. with the way they brought it are, he finally willing -- you finally going to accept the gradually question >> absolutely. gradually? >> absolutely. you have to think about how the world will operate. the other thing was a presumption of all students of the central bank policy was that an europe -- the u.s. was economy. what happens in general does not matter. sure anymore. capital flows are significant and have a big impact on the market. tom: on the actual trading and doing of things in the market, i have got one question for you. was talkingavid about four standard deviation moves and i was talking about ois for that. how close -- that is the wrong question. how deep is the market now to withstand standard deviation shock? incrediblyy is challenged across the markets. though that you would have more and more marketsr

looking at the data we've gotten about manufacturing and consumer , the data in here, the only go upne until may 23. i wanted to see if it reflected the strength we see in consumer spending or the surprising manufacturing we got this morning or the recent strong data on home sales and home prices and home starts. seeost cases, you do not the commensurate level of enthusiasm in these anecdotal reports from the 12 regional fed banks. in the case of consumer spending and tourism, they describe it being up modestly since the last facebook in mid april. that is hardly indicative of the peace we saw in yesterday's monster consumer spending report. it was up 1% with the biggest monthly increase in seven years. through mayook goes 23, said jesting the pace of consumer spending may slow from what we saw in april. on a manufacturing front, the fed regional banks are art mixed growth -- report mixed growth and manufacturing declined in four of 12 districts. fed districts reported positive or improving manufacturing outlook. on real estate, you heard a bit of this from guy lebas, we've had strong

data, tomf china mackenzie joins us now.ail sales, industrial production, what are we looking for? another important day for those of us trying to piece together the puzzle that is the chinese economy and get some clarity on what is going on and been any success with these touted reforms. we will get information on industrial output, retail sales, construction, real estate, and fixed asset investment. industrial output is expected to versus 6% iny april, so staying in line with april's number, and that will give us some clarity on how much demand there is now, particularly in sectors like steel, coal, and how well the government is doing in tackling overcapacity and reforming those sectors. on retail sales, were expecting the number in may at 10.1%, in line with april's figure. a key component is auto sales, because they were soft last month. retail sales are an indicator of the strength of the chinese consumer. the chinese consumer increasingly shouldering the board and as the chinese economy switches from manufacturing. fi

for them to go to one company that can be one stop and get you your planting data, whether data.ou saw this in 2013 when monsanto took over climate corp. which was doing interesting work in aggregating weather but pioneer from dupont stepped up their game. the big players are trying to harness this data. how does this play out for companies like deere and caterpillar? >> this is a case were they can get a farmer to invest something to a tough economic time. when you look at profits and u.s. agriculture, we are seeing them it a 14 year low. farmers are looking at ways to be more efficient. -- precisionure guided technology can save them money by cutting down on the mount of seed and fertilizer and pesticides they need to buy. can make the equipment the farmer can put onto their tractor that allows them to boost their yield and cut their cost in other areas. it makes farmers spend money but they are spending money to save money and approve -- and improve their performance which is a good selling point during eight economic time. typically doers work at night with this new technolog

indeed, while spending data for the second quarter are limited at present, recent data on retail sales motor vehicle upes .2 a significant step in consumer spending and gdp growth this quarter. stepping back from near term indicators, i would like to focus more broadly on the factors likely to affect economic performance over the coming years. with our, concurrent policy meeting, participants will release a new set of economic projections. those could of course differ from the previous set of said projections in march, but, speaking for myself, although the economy has recently been affected by a mix of countervailing forces, icy good reasons to expect that a positive force is supporting growth and higher inflation book continue to outweigh the negative ones. as a result, i expect economic expansion to continue with the labor market growing further and gdp growing moderately. i expect to see gdp -- inflation moving to 2% over the coming years. let me start with the positive. the increase in employment over the past several years has contributed to higher household incomes and strengthe

it is inline with our thinking and the data. those things have stabilized, their influence is dissipating. with respect to core inflation, which is partially influenced also by the dollar, but trying to pull out the dollar and import price influence, but core inflation seems to be behaving roughly as one would expect with well anchored inflation expectations and an improving labor market. so, i'm not seeing anything -- inflation even core inflation, it is well under 2%. i continue to think the evidence supports a projection that it will move up over the next couple years, back toward our to present objective. -- toward our 2% objective. in the past, economic series suggests that inflation expectations are relative to price. so, we do monitor indicators of inflation expectations carefully. now, it is very hard to know exactly what inflation excitations are relevant to actual price and wage decisions. and so, for example, we have seen the michigan survey, a measure of household inflation and expectations move down. it is a prelimi

porter: of course we are awaiting key trade data due out of china. looking at the shanghai market ahead of that number coming through. coming through with quite a bit of loss after a fairly flat open. down .6%. a public holiday in china and hong kong tomorrow. china will also remain closed on friday. good movement coming through from petrochina. quite a bit of weakness. singapore, malaise yarks taiwan and the philippines looking quite good. korea holding on to gains from yesterday. weakness coming through on the nikkei 225. we had the first quarter g.d.p. numbers coming through in line with what the market was looking for. we have seen japanese stocks if you can't. that is due to the fabblingt that we are -- fact that we are still seeing some weakness. down.5%. still an hour to go in the morning session. weakness in australia. down .2%. just want to do a quick check on the aussie dollar as we await these dollars coming through out of china. leaving rates on hold yesterday and the yen continuing to strength playing into the equity market. through 107,

at european data.'ve got three one billion dollar plus i pos in the works. >> it was going to be a window of risk in june where you were going to have an opportunity for deals to price. and secondly larger transactions allow you do address the biggest pool of capital globally and therefore tend to be a little easier to get done. >> you said there is going to be a window of opportunity. what are you expecting for the second half of this year? >> i think there is a healthy pipeline. if we look forward the next six months versus perhaps the last 18 months we probably see a transition away from assets monetized through the ipo market and more towards corporate restructuring. >> i always get skeptical when i hear people say there is a healthy pipeline. getting that from healthy pipeline to out there is the tough part. >> we are always dependent on the secondary market been healthy and functioning and that price discovery and price point has proven to be the case. and as long as we get through events upcomin

some ambiguity in the data.there are some cases where becomes a little ambiguous and activity.lculate the thank you for coming. we appreciate your interest. if you have not done so already, please read the report. [applause] [captions copyright national cable satellite corp. 2015] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> members of congress are reacting to the death of i today. all the boxing champion died yesterday at a phoenix area hospital where he was being past few dayse

we collect data. and we see with the data tells us. so, with that in mind, if we look at the number of fires, working fires in the mission, from 2005, >> if you could speak into the microphone, chief? >> if we look into the fires in the mission since 25-actually i think it's 204 i don't have a document for me but i do know it's fluctuated between a low of 10 and a high of 28. if we were to take an average of all those fires up to current day, the mission district is averaging roughly 17, a little over 17 structural working fires a year. does that mean i'm trying to discount concerns of the people in the mission? absolutely not. i'm here to provide the gadget that's what the data shows. that's what the information is provided from our it people that the information we put four. you referenced an article in our union paper about four fires that were not included. i don't know what the parameters with the street map-what area that covers the maybe that's outside. i don't know. i don't have that information it i will tell you this but we h

trying to ensure compliance with data keeping data private when they state of the data is to make itpublic. there are instances like that but there's a lot of the time that includes making sure that you are doing animal experiments safely and you are compliant if you were doing human subjects research and safety research under the appropriate standards and the appropriate safeguards. there certainly is room for improvement but it cuts across-the-board. a huge amount of our time is spent on administration. the federal regulations aren't the sole contributor to that. >> that would be something maybe we could work on to reduce that regulatory burdens of the dollars spent or put towards the research and preventing tragedies. you brought it up here in your testimony me talk about sharing information which i would just assume particularly on federal grants projects of that information be widely distributed and easily shared but it's almost groundbreaking that we are tried to make his information widely available so other researchers can manage the good work you have done so you won't have

i would like to briefly discuss how we collect data. manifestses containing biographic information on all passengers, which we run against numerous law enforcement and databases to identify and address potential far in advance of travel as possible. when the traveler arrives in the united states, they present their passport to the cdp officer who confirms the validity, the accuracy of the carriers manifest, and the fingerprints and eight digital photograph are collected. if they have a visa, we compare the fingerprints with what was collected at the embassy to make sure it is the same person. if they are traveling under the visa waiver program, we can collect and compare fingerprints. also, there is vetting to ensure no previous violations or risk factors which would determine if we need further inspection. we interview the traveler to determine the purpose and intent of travel. asn we stamp the passport well as recorded into our automated system. in a prison leaves, we again receive the biographic manifest information from the carrier

pmi data fell in may.n the private sector economy with french manufacturers reporting a sixth consecutive drop in new orders. how important to you are these european pmi numbers? >> they are very important. and see how smart the ecb is? smart thingshe they did a couple months ago by increasing the amount of purchases, buying corporate debt, paying banks to borrow from them. in a way this data helps validate the decisions they made. any do feel there is still underlying weakness across europe. unemployment is still quite high. monetary policy has to be somewhat supportive and you need time. i think the data does actually validate some of the moves they have made. jonathan: we used to think about two separateas it entities. france used to be considered the core. i'm looking at very ugly data. france coreonsider eurozone or should we start thinking about the economy as a peripheral eurozone country and germany really is flying solo? participants, you are right. we look at germany. to us that is the core. has

if you look at the data. and of course, that is part of the reason that we have to be very, very careful in protecting and preserving the progress we're making here at home because in the united states, while consumption makes up a very large portion of the overall aggregate growth, it's not strong enough, really, to carry the burden of global growth in a world where globally, aggregate demand is quite weak. >> you know, you mentioned in your remarks, i would paraphrase them by saying take it step by step. and, yet, some economists are arguing quite vehemently that we should raise interest rates lest we create a bubble and the problem of tomorrow. and give some information about how we would respond to those economists. >> so i think if you look across the set of economic conditions that we take into account as we assess what the appropriate stance of monetary policy is, you know, we have very specific goals of full employment and 2% inflation. and while we've made considerable progress on the employment leg

anna: jobs data, usa, the payroll data is expected to match april's number. does the eu referendum hold a key to the june rate hikes? isghi insists his program only half done. riskan says the growing that outflow in china make celebrate as the yuan weakens. is there a risk of another rout? ♪ anna: this is "countdown" live from london. the big number out of the u.s., of course, we also think about what the fed is going to do in june, or july. this takes on added providence -- prominence. the job she really outlined for the dollar has been doing. dollar bouncing since the start of may. it was the april minute of the federal reserve that had a fire under markets and changed expectations a little bit. chance of a 22% hike in june. it is not a certainty that we will see that, and bear in mind these numbers today, what will the participation rate be, what will the wages be? complex, as always is than just one number. hundred 60,000 is the expectation. let's he remarked a day after the ecb. currency, fairly well stuck in a rut. been the least volatile the past three

. >> we want to have the collective datas are from the consumers and the datas are from the business.> yes, so data is very important to him, and, yeah, basically he is developing the cloud likem amazon and break out in the future, and you know the four major areas for alibaba, the cloud, marketplace, and what they are calling the mobile media and entertainment, and innovations technology, and the big topic that people wanted more clarity on is what he made headlines with last night. >> the problem is that the fake products today, they make better quality, better price than the real product, the real names. >> yes, so better than the real goods. ma goes on the say that they are more confident than fixing the fake issue, and addressing the inv investor issues of movies and sports and going back to the opportunities in china for health and leisure, and as you have heard there, carl, he is a big ambitions for jack ma, but he said that he has had the big ambitions for 17 years, and people continue to call him crazy. >> thank you, susan li back at hq. and jason e over to you first, and big

services and composite data. the final estimate, 53.3, slightly above the surveyed 53.1, and the prior estimate of 53.1. that means the composite, the amount of manufacturing and services has been tweaked up to 53.1 from the earlier estimate of 52.9. servicesght uptick for and the composite index the day hisr mario draghi and colleagues sat on their hands. right. let's get on to the markets today. have a look at what is happening as we approach the big one. the jobs report. the stoxx europe 600 is heading for the first weekly drop in do four. the euro little changed against the dollar ahead of the big jobs report later. week has risen for the first week in five against the dollar. -dollarng in the euro was less than a cent. that is the weakest ecb day move something we will speak about and a second. the yield on the two-year is unchanged. the spread between the u.k. two-year is the highest in 16 years, head of the upcoming referendum. bonds surged by record after the commodity trader asked shareholders for half $

lael: a part of the data we look at relates to sentiment. [laughter] again, if we look at some of the most recent consumer sentiment indicators, they look resilient, which is reassuring. but, there are different lags in terms of how people respond to changes in their perceptions. we don't really know going forward whether consumers are going to continue to feel buoyant and see the kind of consumption numbers we saw in april carrying through further into the second quarter, which of oars is a bury -- very important factor driving growth. but, it is an argument for being a little bit patient in terms of reading more signals on the economy, not just on actual spending, but on how those consumers and businesses are feeling about spending. it goes in the same direction, which is, we want to have greater confidence that growth rebound is really in place. >> this table. yes. >> thank you. sheri stevens. i want to go back to the discussion of productivity. to me, that really seems to be a very, very significant concern. the one half percentage growt

if the data weakness of the u.s. is a one-off, that is one thing.ut if people start worrying that the data will take a turn for the worse so that equities take a hit, that will have repercussions. short-term, constructive for asia currencies. angie: coming up, the philippines was the destination for millions stolen in one of the biggest heists in modern history. we will see what manila is doing to tackle money laundering and digital crime. ♪ angie: welcome back. the philippines raising digital security after one of the biggest heist in modern history. let's go live to our southeast asia correspondent. : it entails regulation. bet is unregulated will now monitored. digital currencies, placing scrutiny.r tighter it all has to do with rapidly advancing technology. these are all risks -- hackers are more sophisticated. even highly fortified security systems are bound to be breached . making the strategy more about response, not just prevention. cyber attacks -- steps can be taken to mitigate the effects. angie: can the philippine central bank push throu

they're data gendependent. >> right. >> you know, they're data dependent. the data have not supported a rate hike. the core pce inflation rating is still below 2%. you know, wage inflation is not that big. it's 2.5% year over year. it's not the type of thing that triggered rate hikes in the past. >> we have to leave it. there i'm sorry. >> so bad news bad news once again? once upon a time, guys, a bad jobs number meant that the fed wasn't going to raise that meant free money forever and great money for the stock market. here we are today. that's what we v what is your interpretation? >> i think the street likes the status quo. i think the street was ready for 25 basis point rate hike. but they're also ready to not have a rate hike. just two weeks ago. i think it was 50/50 amongst traders. i don't know that today is like this is bad news so it's terrible. it's like all right, it's bad news so we'll talk about rate hikes for 30 days. that's okay. look at the reaction in stocks. pretty muted. i think that is more of the same is okay. >> pretty muted on the top

other trade data across asia.tabilization, aggressive declines in trade seem to be stabilizing. i think part of it is currency movement. part of it is that the trade adjustment is quite mature. in some countries last year we were getting export declines of 15% year-over-year. you need some week global conditions for that to persist for too long. the global economy does seem a little more stable these days. the interaction of those factors. angie: as you say, currency fluctuation is part of the explanation we see in the drop of the fx reserves. much of it was due to the currency flows in europe and japan. what does this mean for the chinese consumer domestically? imports did drop, but not to the level expected. richard: domestically, a lot of the indicators say the economy is doing ok. you still expect some gradual moderation in growth over time. the interesting thing about china is that views are so polarized. last year, people said it was because there is no credit growth, this year they say too much credit growt

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data youat the swiss broke, anna. shows still here -- i know switzerland is in part of the eu, a 1/10 of 1%. the market was looking for 3/10 of 1%. let's have a look at the bond markets. this is where you are going to see concerns about the ecb. what are they going to come up with with their inflation target? 10-year yields in the united states dropping by a pit. , down bywn in london 1.43%. japanese government bonds in , you have toitory go 10 years almost to get a positive yield. let's go out to rishaad salamat. he is standing by with the first good -- first word news. you, manus.d day to japanese prime minister shinzo in will delay of the rise the country sales tax until 2019. the move complicates the government's efforts to tame what is the world's biggest debt burden, marking an about-face for abe who previously said a shock on the level of lehman would prompt a delay. hsbc says it will cut senior banking positions. it's part of a plan to reduce costs. a person with knowledge of this matter saying mccoury will sh

turning big data into smart data.arles phillips, the former president of oracle, who is now ceo of a software maker. ♪ scarlet: this is "bloomberg markets," i'm scarlet fu. competition for the cloud is fiercer than ever. salesforce made its biggest acquisition yet, scooping up demand where for $2.8 billion. the ceo helps this will help his company battle its rivals. for more and what's ahead for the industry, we hand things over to carol massar and cory johnson. carol: this is the bloomberg advantage. our next guest is with us to talk about big data, he was the president of oracle and a member of its board, charles phillips, and we do want to talk about big data and how it is being incorporated into planning what's goes on and businesses. charles, it's nice to have you with us. big data, what do we understand about it and what don't we understand in terms of harnessing it? charles: the use cases. what do you do with the data and what do you want to happen after you have it? people are searching for ways to use it. tha