we take on joe weisenthal.tuned. ♪ betty: it's time now for the global battle of the charts, or we take a look at the most telling charts of the day, what they mean for investors. you can access these charts on the bloomberg. kicking things off is joe weisenthal. joe: the story here this week in the markets was obviously the demolition of the retailers. today we got retail sales out that helps tell the story perfectly. i want to take out two different subcomponents of retail sales trade this line is department store sales year-over-year change. it's been negative all year, basically. you can just see a comments below zero. a very ugly number. on the other hand, this blue line is non-store retailers. that's online, think amazon. that's up now over 10% year-over-year. couldn't get the split in the industry more clear than this chart. it's going on with retailers does not seem to be an economic story. people are spending, overall retail sales were very solid. it's just a huge secular shift in the industry from the

joe: i'm joe weisenthal. alix: and i am alix steel. alix: u.s. stocks rising around the world. umping 200 points. bearish sentiment pares back. joe: the question is, what'd you miss? scarlet: we ask goldman sachs' jeff currie what happens to metal prices. realplus, the brazilian rallies as the impeachment of dilma rousseff gains momentum. ide,: and on macy's s there's demand an week -- week demand and fierce competition. scarlet: u.s. stocks are gaining more than 1% and the dow up more than 200 points and the major s&p 500 groups are higher today. if you look at it on an individual basis, this is the dow and s&p's best day since 11

let's bring in joe weisenthal. one of several pieces of data that came out from china that all kind of disappointed. joe: there was all kinds of data , fixed asset investment below expectation, retail sales. compared to the u.s., these numbers are still pretty there was aoad, but hope that china was re-accelerating a little bit and the latest data shows that maybe that is already fading. a number of analysts came out to say is this it, did we already ump that wena were going to get and now we are fading again? i think the money supply data is one thing to consider, the idea that the negative when china was posting strong numbers a little while ago, it was very credit driven, debt driven. so the monday supply data is a little we and we've heard from officials that are cognizant of the fact that the credit driven boom is not necessarily the ideal way to grow the economy. and the fact of the matter is it canidely accepted -- you see the aggregate financing down from earlier in the year. there is also a widespread unde

joe: and i'm joe weisenthal. scarlet: u.s. stocks closing, the s&p lowest in the month, with the dollar having its best day in five weeks. joe: the question is, what'd you miss? whether they will be ready for the rate increase by june. inequality, and why these factors are likely to keep inequality high in the future. number of poor results for retailers to get we have a number of charts you cannot miss. youlet: all right, and when look at ready indexes ended, it might see nothing happened today, given the down in the s&p come the nasdaq up a of 1%, those fed minutes at 2:00 p.m. really change the game here. wouldf alien struct, they have no idea that today was very interesting. we saw a lot of volatility after -- thoses :00 p.m. 2:00 p.m. minutes. and you'll rose. in the equity, really a push and pull with equity and banks. you had the bank index at one point up the most since march. this started way before the minutes even came out. you saw the yield curve deepening slightly today, so if you have higher yields, basically bett

we will talk about that with joe weisenthal, coming up next.a 52-week high in trading today, but the markets are overall lower. nvidia airgas is bucking that trend. stanley black & decker is on the down said -- is on the downside of. -- is on the downside. ♪ let's get a check of markets, 17 minutes away from the closing bell on this friday. we are coming off our lows in the session. the dow jones industrial average up about 9/10 of 1%. the s&p 500 declining 7/10 of 1%. and about 4/10 for the week down for its -- on track for a third consecutive weekly to crime -- weekly decline. this is the bloomberg business flash, the biggest stories in the news. we start with general motors, halting sales on some sport utility vehicles because they had incorrect epa mileage labels. gm is telling steel -- is telling dealers to stop selling the models. replacement labels may start arriving tomorrow. buying skin drug assets for $900 billion. they will pay up to $50 million in future payments. the renaissance union had about three and $70 million in sales last y

kicking things off is joe weisenthal. 's been a lot of interest lately in the volatility stocks. with etf'suring low volatility stocks. the company that makes armand hammer baking soda was -- arm washammer baking soda reportedly up for sale. this is 1990, $2.50 a share. now, it is $100. you cannot even see the 2008 crash on this chart. this has been a steady gainer. the 12 month earnings, barely a blip. stocks that people are so in love with right now. you can see why people are pouring into stocks like this. g #btv see that chart at 1379. mark: let's get some color into our lives. it's been five years to the basins glenn court listed -- five years to the day since glenn court listed -- glencore listed shares. how has it done in the last five years? it has lost 75% of its value in the last i've years. biggestad as the worlds steel company. r in europe is down 80%. 600 industry group, the worst-performing has outperformed glencore. if you'd invested in the goldmine, you would be sitting on a profit of 25%. packaging company

isay, kicking off her week joe weisenthal. t earnings out from global action giant set of these. the stock tumbled. one thing to notice is the sales of auction in hong kong are really crucial to their business. there were some signs of stabilization. check out the white line. you can see that for the last year they have really tracked each other pretty closely. it makes sense that hong kong is crucial are. there is a lot of chinese money crucial for this company. if you want to know how they are doing, check out hong kong. that's a good tell. betty: that tells you the concentration of wealth and hung on. mark, what about you? mark: something significant is going to happen. japan monetary base, it's set to overtake the u.s.. we know it's happened to the monetary base. it's trip. $3.73 standing it trillion. the u.s. is 3.8 6 trillion. will it weaken the yen? 1996, they said it will weaken the yen and he was right. the yen fell by 29%. this led many people talk about the soros chart. 96%monetary base is relative to the united stat

joe: and i am joe weisenthal. alix steel is off today. [applause] closing u.s. today, the s&p 500 has its worst day in weeks. joe: the question is, "what'd you miss?" scarlet: writing demand and falling output, the worry about the calls. plus, the biggest headline jump in a month over month inflation within years. scarlet: changing environments for hedge funds, what is driving it and breaking down the crowded trades out there. we begin with our market minutes. a big decline for the dow and nasdaq and set -- s&p 500. many industry groups are lower. within the dow, 27 of the 30 names in the red. deceleration of

joe: and i'm joe weisenthal. scarlet: u.s. the s&p lowest in the month, with the dollar having its best day in five weeks. joe: the question is, what'd you miss? whether they will be ready for the rate increase by june. inequality, and why these factors are likely to keep inequality high in the future. number of poor results for retailers to get we have a number of charts you cannot miss. youlet: all right, and when look at ready indexes ended, it might see nothing happened today, given the down in the s&p come the nasdaq up a of 1%, those fed minutes at 2:00 p.m. really change the game here. wouldf alien struct, they

. >> thank you for joining us, joe weisenthal. up, the close of trading is minutes away on the u.s.rages are seeing the dow jones down .5%. may. now in the month of gain.g a third monthly up .2%. bloomberg markets will be back in two. ♪ >> the markets close in about 10 minutes. julie has the markets check. the last trading day of month. julie: looking better than they were. last half hour or so of trading, the deck going back to the green, the s&p 500 paring their losses. the s&p fair -- paring its losses. we are on the last trading day of the month. once again, mostly in up month for stocks. to date movements that we have seen, even the dow just squeaking out a gain on the month. the s&p is having his third straight monthly gain. the nasdaq is higher by three point 5%. i want to look more deeply into the down particular because it is the laggard on the month. month, it the past has been companies like boeing and caterpillar on the industry well poldman sachs as are financials had a bump later in the month, and going to that, they has been performing poorly. ,ooking around the commo

kicking things off, we have joe weisenthal. day.uld kill the pop-up on my computer screen. the middle of 2015, most of these lines were below the 50 line signaling they were in contraction territory. but now they are above the 50 line signaling expansion. korea, mostaiwan, of them are above the 50 line which means the majority of asian countries are growing again. the trend is higher. a good time for the global economy. interesting. i see that japan is the worst performer. mark, take it away. mark: joe has never done six lines. that is a first. good for you. vonnie, sometimes i like to look in the rearview mirror. looking at the best-performing assets and april. in at number four, local bond market in egypt according to bloomberg world bond. the return of 6.5%. number three, ukraine equities index with the return of working .6%. -- 14.6%. in the last 12 months, it was down 42%. this was the worst performing benchmark over the last 12 months on the world bond indices. zambia'sr two, best-performing currency in the last month got a re

joe: i'm joe weisenthal. alix: i'm alix steel. -- s&p 500 inching out a gain in the dollar rising. stion is, what you miss? we ask why she thinks our quality is still cheap. plunges afterlub an internal review found abuses tied to the sale of loans and a failure of disclosure. what is ahead for regulation. movie roster for the year looks strong but investors still concerned with espn. i look at the numbers ahead of earnings tomorrow. scarlet: some breaking news on lending club. the enforcement division is said toreview lending club disclosure.

i want to show you a chart that joe weisenthal one the bottle -- battle of the charts with today. this is the year-over-year change in sales and so-called non-storytellers. it also includes catalog and direct mail but we are talking about e-commerce. this is the zero line so department stores have been negativery frequent sales declines in year-over-year sales and can see e-commerce, the growth is just a lie. when you look at retail sales a lot of it is because of dr. retail. that tells the story really well. carol: we will stick with retail for moment. which companies are poised to return -- reform better. we talked on the radio about this and the retail sales numbers. what you think is the most important aspect of this report? >> you have to focus on the year-over-year growth. you do see some improvement in april. what we have seen in the last week are pretty terrible results. when you do look at this and you break down department stores you do see weakness. saying the trends are one is showing week. both are showing week. carol: we're kind of tired of the old guard. >> they wan

joe: and i am joe weisenthal, scarlet is not here today. ♪ [applause] [opening bell] alix: u.s. iping out 40day's gains, in a nearly months rally could be on a shaky ground. joe: "what'd you miss?" uighur factory readings in the u.k., and a drop in chinese manufacturing slowing global growth. cbs should report first-quarter earnings any minute now, can they deliver on all channels? class, pressure secretary jack lew, the full interview in this hour. we begin with our market minutes, it was a brutal day for stocks across the board. the nikkei was down over 3%, you have weaker manufacturing data.

joe: and i'm joe weisenthal. alix: and i'm alix steel. and this is "what'd you miss?" ♪ u.s. sing at a mix this afternoon. apple is at the lowest level in nearly two years. joe: this is "what'd you miss?" an investor carl icahn recently doubled down on a bid. joe: plus, brazil has a new acting president. an shellshocked investors look for clues on the industry's hell. minutes --es in just industry's help. those stories in just minutes. the major index get most of the gains leading little right now. the big mover of course was apple trading near

joe weisenthal is off for the day. [closing bell ringing] scarlet: u.s.urning ther as a short rally in market is invaded. the s&p 500 extending three weeks lows and investors waiting the big jobs report for clues on the strength of the world alix: 's biggest economy. gopro and others reporting this hour. the prime minister of turkey is expected to step down. we have a special guest host today, welcome back. marketegin with the minutes. not a lot when you look at the movement of the indexes. moved within a narrow

joe: i'm joe weisenthal. alix: and i'm alix steel. scarlet: the s&p loses its gain for 2016. is at a seven-week high. joe: the question is what'd you miss? scarlet: the jetliner that ballot -- managed has been found of the coast of a greek island. and the possibility the rates by nextaise month. june is on the table but not yet a done deal. alix: 187 carat diamond will hit the auction block. alix: we begin with our market minutes. when you look at how it is faring the s&p has turned negative. this has climbed as well. when you look at the sector

kicking it off this joe weisenthal.oyment rate has been going in one direction and this is down. , it is a five-year chart heads lower and lower up until last october when it hit 5% and since then it is flatlined. the labor force participation rate which had also been going down started taking up at the same time. right around the same time the unemployment rate flatlined, participation started going up. the unemployment rate started -- stopped dropping but at least the labor participation rate. meaningful .2% drop in the labor force participation rate so that starts to turn around and that flatlining of the unemployment might start to get a little concerning about the labor market. you can see that chart. vonnie: coming up his mark barton in london, and he is rapidly approaching your rear end. mark: and the left corner you have spain, and the right, the u.k.. if i were to tell you that one of the stock market is trading at a three-year low relative to the stoxx 600 and one is trading at a record high relative to the st

joe: i'm joe weisenthal. scarlet fu is off today. ringing] stocks extending their losses today with fears of slowing mobile growth and equities lower everywhere from europe to developing nations. joe: the question is "what'd you miss?" alix: the dollar held on to gains for a second day after falling joe: to its lowest in almost a year. joe:and we are about three quarters of the way through earnings seasons. tesla and whole foods due to report earnings in this hour. alix: what does the u.s. economy look like in the shape of a trump presidency? guest have a very special joining us, all of her run it is our cohost for the hour. we are going to begin with the market minutes. another selloff for stocks. it was kind of across the board. you had energ

joe weisenthal is off today. [closing bell] alix: s&p at its highest level in a month.uestion you miss? an exclusive sitdown with bill gross. erik schatzker joins them add a panel in los angeles later this month. alix: and why china once the fed to raise rates in july, not june. 10%.o stock has fallen we have the charts that you cannot miss. with our market minute. the s&p 500 at a one-month high. the risk on like rally heard around the world. it started in

joe: i'm joe weisenthal. alix steel is off today. scarlet: u.s. ing hire with the s&p 500 erasing a weekly decline. joe: the question is what'd you miss? scarlet: a volatile week in global markets. we break down the charge that you can't miss. joe: good news with the u.s. housing market. islook at why lean inventory keeping prices elevated. scarlet: and will be right wing candidate come out on top? we begin with our market minutes. we are in the green through the entire day. lowebounded from a six-week and the s&p 500 finishing positive for the week. i would not have guessed the s&p 500 finished positive.

let's check it off with joe weisenthal. the of all of her running also well. -- oliver renick. about nigeria and what is going on. oil red chart is nigerian production going back five years. you can see it plunged to the lowest level. mexico's back much longer. -- it actually goes back much longer. this white line is the 12 month that that the country would have its currency pegged to the dollar and the value. collapsing,n is that hurts revenue. the bets that it will fall are surging. one of the biggest jumps in a long time. that is the story, i'd nigerian oil production falling, and then pressuring the nyro pay. btv 1324. e that at oliver: i had to do something outside the u.s.. looking at the risk premium in brazilian markets. your white line is the expected return based on bloomberg galatians using -- calculations using crt. the blue line shows the 10 year yield on the generic government bond. what has happened is something interesting. among 45 countries that the function surveys, this is the only country where you have negative equity risk premiums. this is the difference

. ♪ joe: i'm joe weisenthal, "what'd you miss?" the financial jolt heard around the world.ancial bank of japan opting to hold interest rates steady, despite those expecting future -- further measures. hesitate to won't expand stimulus in order to achieve the inflation target. from aet more insights professor at stanford university, specializing in japanese systems. thank you very much for joining us. were you surprised that the lack of the doj action last week, and you expect further stimulus at some point in the near future? >> i was not actually surprised by the doj decision, that is something we should have expected. the market expected something different, but they had wishful thinking and were disappointed. why should we have expected the non-move? there was a policy just months ago, saying they expect it to take time for them to see policye impact of those changes. we should've expected, at least at this time, that they will postpone a doing anything new. and seewants to wait whether the negative interest rates policy will work, do you expect it to? do you think the d

. >> joe weisenthal is off today. ♪ >> u.s.g near highs as the s&p had yesterday in over two months. >> the question is, "what you miss"? energized by healthy employment. the debate over helicopter money. why is it not the first option on the central bank list? oliver: euro area finance ministers meet in brussels to deal with greek relief. can they find a compromise? we begin with market minutes. the dow is up, stocks at their best levels of the session, joining the rally that we saw overseas. if you break it down into 24 industry groups, every single one of them climbed with the worst performer being energy ga

our "what'dg us now cohost joe weisenthal. joe: i'm really excited about this. we've been talking about how workers have been losing out in this economy. more of a share is going to profits than the worker. we see that changing. when you look at broader composition -- compensation, they have been trending up lately. there a long-term decline on this. before -- thes, data did not materialize, because we possibly see a sustained shift so workers get a greater and greater share of the national income? it's a huge question, especially for investors worried about the margins. scarlet: a lot of people look at inflation as well. alix: inflation -- corporate profits are already rolling over. that will not make you happy if you are a cfo. watch at 4 sure to p.m., as we will talk about the resurgence of labor bargaining. 4 p.m. eastern time on bloomberg television. -- a reprievep for brazilian president dilma rousseff. ♪ >> 2 p.m. in new york , 7:00 a.m. hong kong. welcome to "bloomberg markets." ♪ ♪ david: from bloomberg's world headquarters in new york, here is what we'

scarlet: joining us now to discuss the focus of this is joe weisenthal. he latest brexit poll. joe: there was a new poll out today but within the polling, there has been a consistent blip where the telephone polls have people and opted to remain in the online polls are leaning toward leaving. scarlet: isn't that demographics? that's the theory that more young people participate online. you're looking at a phone poll conducted by the guardian and it has leave winning. there have been a number of lea ves this caused the pound to have an instant tumble. remain people are feeling confident going into this and i think this poll has shaken this up. scarlet: george osborne had claims that this -- that leaving the eu would lead to cheaper energy bills. the rhetoric is heating up. joe: they are trying to hammer this in the closing ways that it's bad for housing and taxes but i don't know if that will do it but that seems to be the key argument. scarlet: today, we will look at the s&p 500 which is within spitting distance of an all-time high even though it does not

that one is not mirrored by the other high yield etf's/ alix: joining us now is our cohost joe weisenthalis relatively constructive take on the high-yield in credit market when that has not been the feeling in the last week. joe: we have seen more concerns this past week but it's interesting this idea that we have had this long credit expansion. even if we had a clear pick up since the beginning of the year one is that -- what was that credit ice age, you have to wonder how long this will last. it was a brief ice age. just a regular winter. we will talk about retail and the horrible week that it was for retail. this is the amount of stuff that is left in retailers back rooms because they cannot get rid of it. inventory to sales ratio for clothing -- you can get something mark down by 80% at this point. alix: it's a good sign for macy's but a bad sign for tj maxx. joe: should i be taking advantage of this? it shows the pain and how much retailers will have to apply to move inventory. scarlet: that means it will be another bad quarter once we get those results. joe: not much light at the en

scarlet: meantime, we have joe weisenthal. things we'll talk about, including high-yield credit market. a lot of issuance of debt recently. we will be looking at how the risk factors for high-yield debt has been inching up lately. >> it has been a tale of two years. off to -- last october november, the junk selloff concerns about the etf. you can see here, this is the spread on high-yield cx -- cdx. it surged at the end of the year but has been ticking up lately. the question is, does that auger for weakness in the stock market? given we have seen this huge surge in issuance helped in part by the ecb, is this sustainable, how much appetite is there really? one of the big questions in markets. alix: looking forward to that segment. later on today on "would you miss?" my interview with the founder of cheniere energy after the company names a new ceo. we will also hear from the analyst that covers the stock. mother move the needle portion near? scarlet: short seller jim chanos will be with us live from the salt conference in las

julie: this is a modification of a chart the joe weisenthal used last week. amazon but it includes catalog sales but this is e-commerce. we saw the beat for retail sales. we have the so-called general andhandise, target, walmart some of the mass merchants. we are still not seeing a recovery in these numbers. things that target and walmart still do is sell food. that is something amazon is pushing into but it's not quite there yet arian from your research, does that still give them an edge that other retailers don't have question mark >> it should help them to a degree. is youllenge in this look at everyday essentials like toilet paper or laundry detergent. women say bring that to my house. they don't want to go to the mass merchants anymore. it's very convenient. what amazon is doing is giving people their time back especially for these monday and chores like running errands over the weekend. time is incredibly valuable. amazon is giving people their time back especially when it comes to walmart, it's hurting walmart and that's why the company is reacting so

julie hyman takes on joe weisenthal. julie, you're talking about saudi holdings.king at foreign holdings. overall, the change that we look at is the quarterly basis. when you see it at the zero line, that means we have the net sellers of u.s. treasury. buyery, there is a little come in the market. we are document the federal reserve with their change in holdings treasuries. what they have lack in foreign ownership, they have made up for in federal reserve ownership. that is the calculus we are looking at. central-bank selling coming u.s. century bank buying. home depot knocked it out of the park. they raised expectations. i take a long-term look at the stock. investback in order to $100 in that i ipo back in late 1981. it was half $1 million today. compare that to walmart, another big box retailer. that is not too bad at all. it came the public earlier. since home depot became public it came through that back in 1981. so, home depot is a monster stock. .ncredible consistency obviously, there is a surge like everything else. that is basically like the straight line

weisenthal. everyone is so accustomed to the boj surprising people, that when there is nothing, there is a shock in the markets. joet. if you want to see if negative rates are working, you cannot immediately do something more the next meeting. you have to wait. and if they are working, that gives you some insight. it makes a lot of sense. alix: today, we will talking about another eco-fundamental, inflation. chart. a great tips etf is what you buy when you want to buy inflation. it finally looks like there are signs in the market that people think inflation might be coming and want to protect against it in another sign is derivatives, which protect against inflation, are getting a lot cheaper. but are we actually want to see it in the data? market versus events think it might be coming. scarlet: we will be asking that question later on today to the chief international economist. we will be getting his take later on. alix: coming up next hour, bill gross says the next step in big on extremist efforts may be helicopter money. Âi alix: welcome to bloomberg markets. vonnie: here is what we are watching this hour. stock