joe weisenthal joins me here in studio. thanks for your time today. three european officials asked not to be identified. they said greece's proposed plans to fix finances still need a lot of work. why is greece having such a hard time convincing international creditors, namely germany that it can get a deal done? joe: i think that is the lack of specificity each time. greece seems to be moving closer toward saying exactly what it will do, but still has not gone that far in detail. then, there is generally a lack of trust. people feel the greek government cannot commit by what it says it is going to. the european partners know there is a lot of division within prime mr. tsipras's own party. they have not established credibility with partners that says, we are willing to have outsiders observe us so we can get funding. mark: as far as prime minister tsipras is concerned, are cuts off the table? joe: that is the problem. what the greek and european partners want strikes at the core of what tsipras is about, no cuts. there are things i am sure loyalists w

betty: thanks to alex sherman and joe weisenthal for staying with me.er is up for sale. the owners of the 110 story skyscraper have hired brokers. the tower is the second tallest in the u.s. it could fetch around $1.5 billion. it was last sold in 2004 for almost a hundred $50 million -- almost $850 million. we will keep you updated on the early movers just moments after the opening bell. one stock we have been watching is abercrombie & fitch. their struggle supplies a new ceo to step in the shoes of my jefferies. more next. ♪ betty: trading just underway. we look like we are in the red to start this morning. scarlet fu with a look broader at the market. >> early action right now is to is moving on the downside. we had a blockbuster february for equities and a record-setting monday but since then it has been lower. let us show you what is going on overseas because in europe it is a waiting game for the european central bank and mario draghi. banks including standard chartered are rising. they say it they don't plan to raise capital. the euro on an 11 yea

during the is matt miller and joe weisenthal. shack down nearly 6% in premarket trade after first earnings report failed to impress investors. anybody who is surprised by what they said yesterday did not read the perspective. >> i am not surprised at all. look at the trading history. this is a stock people want to get in and out of for a short-term gain. all of the gains in the stock came on the very first day of trading. you see that 7% or a percent run. >> in the grand scheme of things, it is not a huge dip. it is a company with a massive valuation so there is not much of a margin for error. >> a mass valuation and tiny revenue. and has a $1.7 billion market cap but only $118 million in revenue. for that perspective it is like 38 hours and 20 minutes of mcdonald's sales is a full year of revenue for shake shack. betty: number 3 -- groups stop trading the largest doubt in futures living the smaller versions an etf as main vehicles of our speculations. in an excessive interview, he said he will undercut the cost of rivals. >> whe

here isme, joe weisenthal -- here is me joe weisenthal, lisa abramowicz, our guest. think will happen? guest: the consensus is the fed will take away inflation, what do they replace it with? did they replace it with something that will balance? alix: does the triple digit move on the dow to the upside reflect that view? guest: i'm not sure if that will change their view. there is the fact that you have a lowering environment and the impact on wages in the near term. alix: how much are you looking at any language the fed might insert in the dollar, strafing of the dollar? guest: that would be pretty unusual. they mentioned the international outlook in their statements. realistically, the dollar does not have the type of impact on the u.s. economy as it does on places like europe and japan and elsewhere. the way that we look at it, in the real world, the inflation adjusted world, it is helped by a stronger dollar. we have cheaper ebitda imports. that means more purchasing power. that long-term should be good for the u.s. economy. reporter: what else are you looking for

thanks to joe weisenthal and julie hyman. staying all over the markets this monday morning. keeping you updated on what is moving moments after the opening bell. ♪ betty: trading just underway. i wanted to get back to scarlet fu, who is taking a look at early morning action, including the greenback. scarlet: the greenback certainly. the nasdaq is looking at its first decline in six days. we are moving farther away from matching the record high. we will keep an eye on that movement. let's get to the dollar. it was on a one-way trip higher because fed -- the fed was going to move ahead with raising interest rates. a lot of people headed into the fomc meeting with a net long position. that was not to be the case. the fed change the game last week. jerry allen -- chair yellen said they are not impatient with raising interest rates. you are seeing the dollar extend. last week's losses are now off by 0.9%. betty: the dollar, we really have been seeing scarlet -- scarlet: last week, it gave oil a big boost. today, the rig a liddy mu

joe weisenthal.oming up chris levitz joins me in the studio for a look at what is going on in one of the hottest real estate markets in the country. and it is one there. we will be right back. alex bang selling -- alix: selling for 67 .5 billion dollars. the expensive in history. running the is chris -- joining me is chris leavitt. what do i get for 6.5 -- 46 the $7.5 million? -- for $677.57.5 million? chris: it is a beautiful building with history and character. alix: how much is the maintenance? chris: $57,000 per month. you get a service, valet parking turndown service housekeeping daily. it is worth it. why not you go alix: if i had six -- why not? alix: if i had $6 million. one area that seems to be a huge deal is miami. it is one of the fastest-growing markets be you are part of million-dollar listings miami. what is at the mix miami so hot right now? chris: everyone was to be there from all over the world. the real estate is gorgeous. it is safe. the real estate is iconic. we are building with

joe: i am joe weisenthal. there's certainly a possibility for an accident. ave capital controls -- stephanie: what do you mean by an accident? joe: they intend to keep up with their deal, but they cannot get one in time, so something happens. i think that it is impossible that it has big global ramifications for now. stephanie: for now. certainly not an easy region. these are the top business stories of the morning. a surprise drop in housing starts new home construction 17% in february. the most in four years. the cause? bad weather is getting most of the blame. it may be a temporary drop. there was an increase in building permits last month. may search has turned down a $22 billion takeover offer for simon property. they say a bid from the largest mall owner in the u.s. does not reflect the company's true value. may search is also adopting a bill that would raise the price. it may take a while before we know the winner in today's elections. in israel regimen netanyahu and his party may be trailing the zionist union, but neither is likely to win an outright

joe: and i'm joe weisenthal. we have breaking news in the will markets.y inventory numbers are out. i -- julie hyman is in the newsroom with the headlines. julie: it looks the what was anticipated. it look like we would see a build of around 4 million barrels in the weekly inventory numbers, and instead 9.6 billion barrels. -- 9.6 million barrels. supplies are now at a record. already, we've seen crude inventories up for nine weeks straight. obviously, we got a 10th week. this 9.6 million barrels is an eye-popping number compared with what analysts have been estimating. and if we look at the market in reaction, as expected, there is a lot of volatility. it looks like oil is down 3%. already, we got a seven day slump in oil industry -- in its trading. joe: thanks, julie hyman exciting stuff. scope -- scarlet: now we are down even more and extending our losses off of 3%. it's a big gyration in the overall market. joe: it was a very fun 30 seconds right there. scarlet: let's move on because there's other breaking news. eight tourists have been killed in an a

mark: bloomberg market's managing editor joe weisenthal explains why the dollar is the strongest it hasn in 12 years. joe: a funny thing is happening the dollar has been surging massively, up 24% since june. it is at its highest level in 12 years. that is quite the turnaround them a few years ago when everyone was down on the dollar. in 2007 gisele insisted she be paid in euros and jay-z flashed euros in a video. and after the financial crisis we were told everything was going wrong for the dollar. gigantic u.s. budget deficits were eroding confidence in the dollar, plus other countries seemed to have growth prospects that make them more appealing to investors. so what happened? the u.s. recovery is now the envy of the world and it looks like the fed is ready to hike interest rates before other major central banks. u.s. government deficits have shrunk massively and the collapse of oil prices mean the import bill is disappearing. while japan has created fresh easing programs, the u.s. dollar is once again king. mark: did you know that jay-z flashed euros in a video? anna: joe has a long

here with me now is bloomberg markets managing editor joe weisenthal. hetoric are you looking at. what are we going to hear? joe: it always seems that when the lower-level people are talking you hear a lot of negative stuff and then the leaders, the top leaders, by the time they get together, they are usually a little more civil and stuff like that. i do not think we know. but i think you always have to assume that in the end they come up with something. alix: that is what i keep hearing. joe: we do not know what is going on but you have to figure that they will keep kicking the can and get something together. alix: what new measures have you heard might be talked about in terms of what greece can offer to the creditors? joe: they had an agreement back in february. alix: february 20. joe: in the immediate days after that, that agreement seem to come apart, and you saw the left wing of the left-wing party attack it. it seems like the main thing that alexis the needs to do is -- tsipras needs to do is reconsider power. one of our columnists in europe said

i want to bring in joe weisenthal of bloomberg markets, who will have ed lazier on "market makers." 's position is going to be. joe: sound like he is skeptical the economy is in a strong enough position. we heard that from ray dalio the fed could be repeating mistakes of 1937. we do have the possible rate hike or more immediately the removal of the word "patience," economic data has been surprising to the downside. it is a very exciting time for fed watchers. betty: it is. i am assuming are thinking now with some of the data that we have had that has not been that strong, some of it has been related to the weather. the fact that it has not been debt strong does raise the question of whether we may be pushing the fed into raising rates to quickly. even if it is taking off the patient language to quickly. joe: people have been telling the fed, bernanke or yellen, to raise rates or do something for years. they are not going to do something they do not want to do because everyone is urging them to. the view is probably most of the week data is whether dependent. they have plenty of time.

back to the close now -- i'm here with lisa abramowicz, joe weisenthal, and the chief global strategistrvis. i had been talking about the philly fed and a possible warning for investors in the numbers we saw there. manufacturing index, is that a higher concern because of the stronger dollar? is the u.s. economy strong enough for a strong dollar? what she's clearly setting the road up for it not to be quite as strong. by not mentioning explicitly the dollar that many times but sending a clear message they're not looking to hike rates quickly for that soon until they see the u.s. economy was strong enough to withstand that. alix: you had unfulfilled orders were negative -- that is logged. those are orders that will be coming later. that's forecasting lower production. ask it was a pretty mediocre report through it all. last week or earlier this week, we had the empire fed number in a less interesting. the labor indicator was pretty strong. it is one survey and no economist with putting too much stock in any of these regional surveys, but it continues this general theme. if you look across

and joe weisenthal. where are we in the negotiations. it's never dealt with the country less helpful than greece. i thought that was a startling thing. pimm: the greeks take that as a compliment. they are playing hardball. alix: desperate ball. pimm: they have an economy of 11.5 million people. what is mario draghi and envelope merkel really want. -- angela merkel really want? the greeks are good at rhetoric. that's what they do. alix: you're looking at the 10 year yield on the greek bond at 11%. that is not sustainable. joe: they do need to convince their partners that they need some cash. they have payments coming up. they don't have that much time. there will be a point where the partners are feeling antagonized and it could get bad. you saw this in germany. the germans are saying, let it go. at some point, it could be happen -- happened that the ecb and angela merkel -- alix: next week, they will be meeting in berlin. two kinds of rhetoric out of this. angela merkel saying that it is the right time for talks. she is willing to go alo