this is the first result sense jim hackett became ceo in may. questions about driverless cars. coming up, oil continues to move to the upside am extending gains after hitting a seven-week high. u.s. stockpiles could be reducing. head of commodities research will join us for his outlook on oil and copper. this is bloomberg. ♪ alix: the fed decides today at 2:00 tm -- p.m. donald trump says he may reappoint janet yellen to a second term, or he will consider gary: as a top contender for the position. joining us now with more is stephen englander head of research and strategy at graffiti capital management. we are also joined by carl riccadonna. i want to talk about the re-rating we saw just sent the last fed meeting. this is the market implied policy rate. this yellow line is where we were at the end of the last policy meeting in june. the green line is where we are at as a right now with hikes. to hikes have been forecasted over the next two or three months. has this rating been justified? karl: i think it is justified given by this backsliding in inflation which seems to be a mo

. -- biggest business stories in the design of it jim hackett surprising wall street with second-quarterarnings that beat estimates. ford is battling some familiar challenges -- a slowing u.s. auto market and an aging model lineup. coca-cola also has a new chief .xecutive, james quincey cost-cutting has paid off. coke posted second-quarter profits that beat estimates. belt-tightening and hydrant is high during the prices helping coke -- belt-tightening and high prices helping coke offset sales declines. squeezing more cash out of the 77 dreamliner program in the second quarter, estimates are that boeing will spend $3.4 billion of its cash haul on buybacks and dividends. that is the latest "bloomberg business flash." still ahead on "bloomberg markets," the defense companies reporting results today. the cfo of calais school join us from paris -- will join us from paris in a bloomberg exclusive. in the next hour, the mcdonald's ceo joins us to the world's biggest restaurant chain rolling out a new delivery service on top of a strong earnings report. this is bloomberg. ♪ vonnie: this is "blo

and the underlying business, it's in the midst of being reviewed and realigned by jim hackett. again, they're dropping tax rate from 30 to 15% hackett is almost down with his business review, 100 day review should be done probably some time in november, early october, he did say during the conference call today, i see opportunity in every area of the business one area that got a few questions on the call today, look at the difference between gm and ford. not just in terms of stock, but in terms of profit margins in north america, gm has far higher profit margins than ford and that was brought up by a number of analysts. you can bet that jim hackett, he has a number of things to turn around, guys, and on the call today he said i'm optimistic, but we have a lot of work to do. >> look, if he could get jim harbaugh, phil, i mean, come on. this guy can do anything, right? >> that's where the optimism in deere born comes from. >> very good, thanks phil. see you later. >> you bet >>> coke is the other big dow component reporting earnings today. let's get to don chu with that and other

i mention the conference call, we have not heard much from jim hackett the new ceo at ford since he tookver from mark fields he will be on the conference call today we'll be on the conference call, as well. we'll let you know what he has to say as he's doing this 100-day review of ford's business before he lays out his strategic vision ford beating the street at 56 cents a share, 13 cents above estimates. >> all right, thank you, phil. we'll see you later. phil lebeau. >>> elsewhere in the news this morning shares of chipotle are higher in the premarket. the restaurant chain beat estimates last night by 14 cents with a quarterly profit of $2.32 a share. separately, the company says it's gotten a follow-up subpoena requesting information on a recent health incident at a virginia restaurant. chipotle says it cannot determine if that will result in a penalty of any sort. the federal reserve concludes two-day policy meeting today with an interest rate decision and policy statement that will come at 2:00 p.m. eastern time the fed not expected to raise rates this time around the language on in