we spoke with jordan roberts a our host of what you miss, joe weisenthal.hackers compromise the : website for a small south korean crypto currency exchange. coin rail is not a name that would be on the tips of both peoples tongues. it is fairly in the top 100 of global cryes. but what happened has a lot of residence for anybody investing in this market and part of the reason you are seeing this big selloff this weekend in terms of billions of dollars a , billionsency stock of dollars of value from crypto falling. the reason is this, once a peace -- a piece of digital currency is stolen, you cannot get it back. it's not like money that can be reimbursed by a bank, although some have reimbursed victims of hacking attacks. i find it endlessly fascinating of what a cryptocurrency is. it is a number. it is a digital file you are given, and if you give it to an exchange, and that exchange is then hacked, that money is gone for good. you are seeing a lot of people running away from the market because of that security risk. emily: i want to put this into context. t

scarlet: i am scarlet fu p joe: i am joe weisenthal. lia: the nasdaq is a record .igh meyer jogging manages the market once again. joe: the question is what did you miss? scarlet: the end of an era for the central bank. it is ending the bond program posing extraordinary financial -- in europe. a tear up getting a boost from the fcc. as they are not subject to these roles. central banking for the masses. we speak to a professor who makes the case for giving the general public the option to open personal accounts at the federal reserve. julia: coming to a close after a decade of quantitative easing. the european central bank is ending its bond buying program. ecb president mario draghi said that the euro area economy is moving in a healthy direction. progress towards a sustained adjustment has been substantial so far. the bank opened the possibility of extending for a short of expectations. bring in karo, great to have you with us. you ended qe and that was well telegraphed. managing them -- managing this a lot europe to fall. 1.5% on the

emily: that was andy bromberg and bloomberg's joe weisenthal.up, one hedge fund manager has a novel way to turn a profit from investing in tencent, whether shares go up or down. details on that, next. plus why goldman sachs is betting big on blockchain. getting into late funding rounds, exploiting the blockchain to tackle what they say is a $9 trillion business opportunity. we will hear from the ceo, next. this is bloomberg. ♪ emily: facebook is planning to offer its whatsapp paying services to all of india starting next week, even without a partner. fourth partner state bank of india will join once it has its system in place. this according to people familiar with the matter. the rollout shows just how urgent the race is to win market share from local rivals, google and alibaba. whatsapp has more than 200 million users in india. and while tencent remains one of the biggest tech firms in the world, the stock has seen dramatic swings over the last year. one hedge fund manager says he has a novel idea, to invest in tencent without taking on so muc

i'm joe weisenthal. we are 30 minutes from the close of trading. the question is, would you miss. pill pack causing pain for drug retailers. the changes that could be in store for the health care industry ahead. the stress test from banks will be released. what to watch as six foreign banks are in the test for the first time. and really a perfect stick. minneapolis said the president -- an exclusive cookout with joe. julia: jeff bezos is looking to conquer the last frontier wanted to fill your prescriptions. getting into the health care space, the company made a $1 billion bid for tell pack. ravaged health care stocks today. great to have you with us, max. immediate us nationwide presence. how big is this market? >> it is pretty enormous. it gets a lot of regulatory and initial infrastructure work out of the way. they are in the market throughout the country immediately. while mail order prescriptions have gone down under -- over the years, it is still a pretty part -- important part of the market. >> we saw the reaction of pharmaceutical stock trembling in fear. is this correct?

joe: and i am joe weisenthal.u are tuning in live on twitter, we want to welcome you to our closing bell coverage, every weekday from 4:00 to 5:00 p.m. eastern. inrlet: losses overseas asia and europe. the dow, s&p, and nasdaq all down. julia mentioned the 8th str dow, then for the longest since march. joe: it is long. scarlet: i feel like the reasons why stocks fell today may contend some concerns. you have the daimler warning, and as we get closer to earnings season, maybe we will hear more from companies, the impact from all the noise of the trade discussions. joe: or it may be that companies that are struggling cite trade. scarlet: that is a possibility as well. let's look at individual names here, because intel was a loser, off by 2.4%. the ceo ousted because of an inappropriate workplace relationship. as a result, what you have is a leadership crisis at intel, the first and its 15-year history, or at least the worst. intel promotes ceo's from within the ranks. it changes the succession plan, push out federal

joe weisenthal is on assignment. julia: crude spikes ahead of opec's meeting. scarlet: the question is, what you miss? opec discusses the contours of an upper increase as russia versus for a big hike whi iran insists no changes needed. --me game over immigration children separated from parents at the u.s.-mexico border from as president trump blames democrats. handicapping the outcome of the election on financial markets and the economy on the election. the author of the new book "midterm economics" joins us in the next hour. bonds are clawing their way back following a post crisis retreat. topping $20 billion in 2018. tracy maitland of advent capital management, which has a $9 billion in assets under management. great to have you with us. tracy: thanks for having me. julia: we don't often talk about convertible bonds, and that is part of the problem. why are we seeing such growth as we are discussing, and why don't we talk about it? why is it a forgotten asset class? tracy: it is often overlooked asset class. you do

joe: i am joe weisenthal. scarlet fu is on assignment. and -- [laughter] we want to welcome you to the closing coverage every weekday at 5:00 p.m. julia: let's begin with market minutes. a look at the individual performance. as you can see from the federal reserve, and this was an any can see the snapshot. point 5%, the s&p 500 lowered by .4%. have -- we did have tech stocks outperforming earlier on. some of the weakness that we saw. seeg headlines, and lightfoot we saw yesterday at&t comcast proposal for 20th century fox, and all ca proposal for the 21st century funds. what we got through at&t yesterday, the proposal at $35 per share. obviously, battle for 21st century is active between disney. that we were expected between obviously, battle for 21st comcast, just for here, eastern time. marginally higher on two-year yields moving up 2.75%. 2.97%, theyd up were about 3% at one point. with theing markets yout end of the em curves, can see they're moving significantly higher on the day. at 2%, and the 0year intraday e how will not all that

emily: that was bloomberg technology is a jordan robertson and bloomberg's joe weisenthal., nasa's curiosity rover may have made its most significant discovery yet. what this means for finding life on mars. this is bloomberg. ♪ emily: well, there might finally be an answer to david bowie's timeless can -- question. nasa's curiosity rover has found what could be the foundation for life on the red planet. have beenlecules found on the three and a half billion-year-old bedrock. elon musk maybe trying to colonize mars now, but nasa says chances of finding life have just going up. to tell us more about this discovery, we spoke to a bio geochemist from nasa and lead author of the study on these findings. >> essentially found organic matter from rocks on an old lake from mars. that lake was around 3.5 billion years ago. the planet was a lot different and we have other clues that tell us there was water and nutrients around an energy sources around. and now we have evidence of organic material. everything that life would need to be happy was there. we just don't know if there was l

also, joe weisenthal is joining us. >> we're seeing two things happen here.t year investors were not yet sophisticated. they were figuring out the market. ow anyone can raise. emily: a similar question to you. is this the start of the boom or beginning of a bust? >> i don't know the answer. i wish i did know the answer to hat but i do find it to be pretty striking the way in which we see this relentless decline. obviously, you mentioned bitcoin, but pretty much all of them all at the same time, despite the fact that we get a pretty steady drip of news coming out about infrastructure being built out, institutional interests being developed, partnerships between startups in the area and legacy companies doing trading. so much of the hype in the second half of 2017 with about this wall of institutional money that was supposed to come into the space. we see a lot of the building blocks for that continuing to happen, but it's obvious that has not translated into price increases the last i think a lot of people would have guessed. emily: and at the same time, the d

joe: and i'm joe weisenthal. julia: with 30 minutes from the close of trading in the united states. ock adding to weekly gains. joe: the question is "what'd you miss?" scarlet: president trump rocks the boat at the g7 summit. he wants to bring russia back to the table. from one summit to the next, president trump will leave quÉbec early and had to singapore for his meeting with kim jong-un. bringing the alarm on iphone demand. shares of apple and its suppliers falling today on report of a steep drop in orders for new iphone parts. julia: "what'd you miss?" president trump arrived in quÉbec ahead of the g7 summit this afternoon. president macron shared this with trump. that looks quite friendly, intimate. joining us from washington with more is shannon pettypiece. we have the president throwing russia into the mix the prospect of the g7 again becoming the g8. no shortage of contentious issues this time around. thisthink this suggests sticks with the pattern a lot of the allies are feeling where the president is more interested in cozying up to adversaries than our allies. little inter

joe: i'm joe weisenthal. julia: 30 minutes from the close of trading. u.s.sion dominated by trade tensions. joe: would you miss? >> the trade tit-for-tat is back on. beijing wastes no time fighting back. a central bank shade up -- shakeup. and president trump's closest confidence rally around the junk-bond king. the push to pardon michael milken gaining fresh steam. a $50 billion tit-for-tat after their bowels of swift retaliation. china will impose 25% tariff on $50 billion worth of u.s. imports with tariffs on $34 billion worth going into effect july 6. sound familiar? it mirrors the announcement issued by the office of the u.s. trade representative robert lighthizer. stefan, bye welcome phone, always great to have you with us. thank you for joining us. the president said they would consider whether tariffs if the chinese retaliate. facilitatingis talks on chinese trade and improvement? or is it just to further ratchet up tension? the administration has been clear if the chinese did respond in the way they just have they ,ould impose further tariffs th

joe: i'm joe weisenthal. julia: 30 minutes from the close of trading. tech stocks leading the charge. a new high and the s&p 500 raking a three-day losing streak. >> would you miss? >> president trump reversing course. thishas just happened hour. steven mnuchin's silence could be speaking volumes. years keeping silent on trade tensions with china. disney could be getting a green light on its fox deal. the justice department has approved the deal. more on the exclusive bloomberg reporting ahead. president trump signing in order a few moments ago to end the immediate separation of immigrant families at the u.s. exit go border. it should spark outrage -- it would -- it has sparked outrage. afternoon after this executive order, reversing what the white house has been saying for this policy is rooted in law and congress has to act. what do we make of the decision on this? where does that leave congress? this issue has created a national firestorm that has roiled the white house. criticism -- it has sparked criticism. i read the text of the order. it requires

joe: i'm joe weisenthal. julie: stocks are higher for a fourth consecutive day. joe: what'd you miss? scarlet: larry kudlow calls trade tensions a family quarrel. we call on the latest in a global trade. the biggest primary night this year. we have the latest results in california and why one part of texas is offering 100% paid raises to work in the region. president trump regards himself as a free trader according to larry kudlow. he addressed the president's trade policy in the white house briefing earlier today pushing back on reports the administration was close to finalizing a deal to revive is eta. bipartisans drawn condemnation from congress but kudlow insisted no decisions have been made. joins us now with the latest. how do we know what the latest is? relation to cte? >> here is what bloomberg is reporting. the chinese have agreed to a deal in which they would buy $25 ,illion more of coal, shale oil and make big changes in the management of cte. marco rubio said the people there proposing run other companies that have sanctioned. they are not necessarily

joe: i am joe weisenthal. lia: the nasdaq trading at record highs. , atstors woke say on data least for now. joe: the question is what did you miss? >> president trump has to pay -- for a showdown at the upcoming g-7 summit. apple is more than just an iphone maker. they announced changes at the worldwide developers conference. arianna huffington attended the conference and joins us on this hour. the labor market could be too hot. -- how did they do with the data? seemed unfazed by retaliation for global trade partners. this morningmp taking aim at cultural experts on twitter here and they have not been doing well for 15 years. mess the's candidate, china, and others say they treated them unfairly. that will change. trade against u.s. bonds and other businesses will finally be broken. this comes ahead of president trump's meeting with other g-7 members this week. leading the u.s. economic policy coverage. great to have you with us. once it only imagine what kinds of comments you will get from the other g cyclic

joe: i am joe weisenthal.u are tuning in live on twitter, we want to welcome you to our closing bell coverage, every weekday. scarlet: we begin with our market minutes, and u.s. stocks begin with gains, albeit smaller gains than what we had seen in the last 10 minutes of trading. the dow finishing basically unchanged. the nasdaq up by .2%. i was going to say that u.s. equities shrugged off the tree drama, and that might be the case depending on how quickly the news flow is moving. joe: not much action today. it definitely feels like a holding pattern before headline days ahead. scarlet: president trump meeting with north korean leader kim jong, the federal reserve meeting on wednesday, ecb thursday, boj as well as the end of the week. plenty of catalysts. in terms of equity movers, we're keeping an eye on him in a developments. j" reporting boston stein -- boston s scientific gaining. again, this is according to the "wall street journal." energy moving lower by about 1.5%. synergy shares of the biggest game ev

also, joe weisenthal is joining us. ♪ >> we're seeing two things happen here.ation between low quality and high quality projects. last year, investors were not yet sophisticated. they were figuring out the market. anyone could raise. now we're seeing the high quality ones raise large amounts of money. the low quality once not as much. this raises interest from investors all across the world whether you're at the eiffel tower or golden gate bridge. you see them talking about ico's all the time. that increases interest. it will drive the industry forward in the next couple months. emily: a similar question to you. is this the start of the boom or beginning of a bust? joe: i do not know the answer. i wish i did know the answer to that but i do find it to be pretty striking the way in which we see this relentless decline. obviously, you mentioned bitcoin, but pretty much all of them, all at the same time, despite the fact that we get a pretty steady drip of news coming out about infrastructure being built out, institutional interests being developed, partnerships b

. >> i am joe weisenthal.nt to welcome you to our closing ball coverage every day from 4:00 until 5:00 p.m. julie: there is a lot to sift through on the market front as we see this selloff in reaction to the news that the administration was considering investment curbs on china and u.s. technology firms. major averages bouncing from the lows of the session. take the s&p 500, finishing down after they by 1.4% index was off by a little more than 2%. something of an improvement on a relative basis. still by far the biggest drag on the major averages. consumer discretionary, suffering along with energy. utility and consumer staples, finishing in the green, and in terms of the individual stocks that were selling off the most, those companies that are talking about the trade concerns and its affect on their businesses or outperformed. for example, you've got carnival shares down the most in six years, the worst percentage performer on the s&p 500. company cited headwinds that had been affecting the industry, like fu

joe weisenthal met with neel kashkari and here's what he had to say about the mutual rate. >> i thinkoward our inflation target. core inflation is at 1.8%, wage growth ticking up. i would be comfortable with us rate, anda neutral once we get to neutral, let's wait and see how inflation evolves. look at how wage growth evolves. that, to meet, we could be one hike or two away from neutral. how is this going to dominate the conversation? >> he is a dove. saying let's not overshoot on the upside. we'll get one or two -- one or two hikes, and by the end of 2018, we'll be where we want to be. the new chairman of the fed seems to be sympathetic to the view, jay powell. he talks about the virtues of a high-pressure economy, saying it is not a bad thing to let the economy go hot, because you can pull people back into the labor force to learn on the job and become more productive. it's a bit of a controversial argument. it,uldn't have predicted but he seems to be leaning more dovish than people think. alix: what do you do with the 10 year and the curve? sam: neal might think it is lower and oth