thank you for being with us. , nick timorous, who is the national wall street correspondent, and jonathan miller from cq local. they are also here to help us this morning. if i may begin, can you tell the american people how order rico is $70 billion in debt. in a very short story, we got into a recession, congress -- with thepproved help of that section, it was to help puerto rico walk out of the recession. however, congress said it was too much and repealed that section. , we walked the end into a recession again. from 2006 2 2012, there was an anti-space in work creation. space -- empty space in work creation. from 2006 and 2012, it was double. one governor to 60 billion. in just four years each. debt --272 billion in debt, to $72 billion in not just because of adjustment, but also with loans. that is the history, and now we have to deal with that. you declaredear, the debt unpayable, and this past week the government missed most of its payment. there is a larger it hundred million dollar payment due in -- $8008 million million payment due in july. will you be able to make that payment? guest

jonathan: canada doing the unthinkable, infrastructure spending. go over to matt millere stocks on the move. solar city extending losses to its second day after an 11% drop on earnings on monday. shares are plunging ahead of the open on a slew of analyst downgrades. it is down after a big is lost -- bigger loss expected that will the least trained -- change its strategy. you think a change from strategy would be a good thing, but dean foods swung to a profit in its first-quarter. earnings topped estimates and the company offered up guidance for the current quarter and i don't know -- for me, friendly's ice cream was a part of my childhood. david: years ago. matt: growing up in ohio and dean foods is going to buy friendly's. that will be interesting. to take a look at amazon -- take a look at amazon. up after it had same-store sales grow in 13%, year over year which is weird, ebay had same-store sales down 6/10 of a percent, google has same-store sales up. go into the bloomberg and find that data, but there was an analyst who raised his target on amazon to $1000 a share o

jonathan: matt miller with breaking news on value pharmaceuticals.will file its 10-q on or before june 10. the company is reaffirming its first-quarter view. this quarterly filing as far as the sec is concerned as well as canadian regulators will be on a timely basis, but most importantly, it is reiterating its full guidance. valeant the last time came out with a delayed filing that it throughout basically everything in the kitchen sink, trying to clear the decks for its new ceo to run the company. the markets at first were concerned and then relieved. are seeing that valiant is reaffirming its view for the quarter and for the full year. the shares are up 4%. jonathan: at the moment, i'm not sure who has the hardest job -- valeant analyst or those following the fed. what i find really remarkable is that the implied probability actually shapes the outcome. if there's no need to move, they won't move. anastasia: although i do not think you will move in june, the markets can move in advance of that. you have a real real tail sales number on friday. you

jonathan: i'm going with the chart, matt miller. of america -- ♪ iaae-m" david: donald trump takes indiana as ted cruz bows out of the way's -- race. june rate rises are still possible. jonathan: the adp payrolls disappoint. david: we are just under 30 minutes away from the opening bell. this is the number of. -- this is bloomberg go. i'm david westin alongside jonathan ferro and megan murphy. futures down on the dow. the ftse 100 down by one full percentage point. the dollar a week or moves off the back of some soft data. table disappointing data out of the u.k. as well. 145 and treasuries rally. biggest move yesterday in about two months. the yield of 1.78%. matt: a lot of equities moving in the premarket. almost 8%is plunging despite beating analyst estimates with first-quarter earnings. the second quarter fell sure. -- short. this was the 31st straight quarter that priceline beat consensus. nearly eight years of positive surprises. let's talk about the big media companies that have reported. and time warner both reported profit a

miller put up the shot shows up in about 20 minutes time. he would be voting against a guest. david: i had the idea, but not helped with the chart. jonathane. delta airlines' new ceo takes over today. the market open is in 34 minutes, futures are positive. ♪ david: the deal is off. halliburton calls off the deal. paymenthere is a bigger looming it. jonathan: the s&p 500 rally could stall in the near term. investors should add to some safety stocks. he will explain what they are this hour. david: we are just under 30 minutes away from the opening bell. meganvid westin alongside murphy and jonathan ferro. jonathan: let's get you up to speed on what's happening. futures stay positive. dow futures are up 53 points. the s&p is positive seven. lithic or going to kick off may on the front foot for the board. market, thehe fx euro-dollar is punching through for the first time. tocomes back a little bit 114. thedollar yen, it breaks losing streak. month of gains in april of almost 20%, it's 2/10 of a percent higher for the first day of may. let's cross over to matt miller some stocks to watch. company in thest world is trying to snap a seven date

thank you for being with us. , nick timorous, who is the national wall street correspondent, and jonathan millercq local. they are also here to help us this morning. if i may

jonathan miller and the national tax reporter for roll call. governor, you tell us how puerto rico is $70 billion in debt? >> to get a very short history, in the 1970's due to a recession from oil prices, congress reacted and approved the for puerto rico -- with the help of that code, puerto rico will get out of the recession. but then later congress thought it was too much and repealed the section. what governors did since 2006 and 2012, the empty space on wealth creation that's created in puerto rico through this section was filled with loans. the total debt of puerto rico in 1935 with $37 billion from 2006 to 2012, it was doubled. so we got to $72 billion in debt just because they tried to fill the gap. not with adjustment in our way of competing with the rest of the world and bring thatacturing to put rico, with loans. that's the history and we have to deal with that. >> governor last year you declared the debt of puerto rico unpayable and this past week, the government development bank missed most of a payment. there was a larger $800 mill

jonathan: you do not sound very bullish today. matt miller, what have you got?att: i've your first word news. do you want to see a chart first? david: we want the chart behind you. matt: this is an interesting look at the labor market. this is average hourly earnings and we were up 2.5%. it is still better than a stick in the eye as far as wage growth. this is labor participation. this is some excess slack coming off. if we are out of slack now, does that mean we see wage growth start to go up? emanuella: it is not clear that we are out of slack now. our baseline forecast is that the participation rate will stay at 63%, but there is risk that you can have some reentry and perhaps there is slack in the economy. it is not all bad news. trend intinue the up the participation rate, the business cycle has more room to run. you can perhaps continue to see an expansion without the inflation that will end up crippling the recovery. it is not all bad news. it suggests that we will eventually see wage pressure. for now, it is slow in its building. david: please stay with

jonathan miller and the national tax reporter for roll call.ernor, you tell us how puerto rico is $70 billion in debt? to get a very short history, in the 1970's due to a recession from oil prices, congress reacted and approved the ricotitive tool for puerto -- with the help of that code, puerto rico will get out of the recession. but then later congress thought it was too much and repealed the section. what governors did since 2006 on 2012, the empty space wealth creation that's created in puerto rico through this section was filled with loans. the total death -- debt of puerto rico in 1935 with

miller in frankfurt. in brussels, where finance managers meet on greek simin demokan. jonathan: the bank of england governor mark carney is testifying this morning. guy, the momentum seemingly behind the remain campaign. what is mark carney have to say? guy: he has the responsibility to stand up and make clear the risks that are associated with the referendum. he's not backing down on that. everything you said today felt very caveated. it wasn't the kind of fireworks story that we were anticipating, but mark carney was not pulling punches. was interesting in terms of the way the market has interpreted what he had to say was he talked thet the idea as the sum of recent slowdown that we have seen coming through. from the u.k. economy is attributable to the markets and ability to respond it. the market is therefore taking the pound little higher on the back of it. we also had a full out earlier on coming out of the telegraph. really pointing to a significant lead now for the remain cap. -- camp. the pound, even before mark carney was speaking, was rocketing higher on the back of t

jonathan: matt miller is not with us, he is in relation, that ,he question asked by him was can we getsy, because it is still not huge in this country. do you worry about that? brian: they can only run a couple of events, at most. so to get any frequency, it is hard for anybody. we are running every weekend. our style is a global track, closer than you park your car. that is very different than formula one. the: how much has viewership and fan base increased over the years? brian: we have increased in some regards our social media. we are blowing it up and all the one or -- we are still two coming in or out of the weekend on cable with fox and nbc, those are our partners. we have done well, however you measure it. but i tell people it is the most dependent marketplace in the world for sports. culturally, you put all the in and they leagues are well entrenched. so to do as well as we do is a testament. lisa: people love their cars. brian france. nascar ceo and chairman. up next, the gap is widening ahead of the june 23 referendum. the whole the charts is next. ♪ david: this is "bloomber

i'm jonathan ferro. matt miller, you are up first.for him, if you want. wars. chart i am ready for it. tesla has been in the news. line is a look at the number of shorts we have seen on tesla's shares. the white line is the share price. the short position has been rising. pressure on the stock. the stock has had quite a rebound. you have seen a lot of short covering. i should point out the shorts are still 28% of float, which is fairly high. the question is, if you take a look at the share price, it is a little higher. people like what they got from tesla. what will happen to the short position whether or not we will see it higher or lower? some people argue having a high short position is healthy for the stock because it gives you a little cushion on the downside with shorts covering, right? carol: right. david: i have one that hillary handed to me a few seconds ago. the white line, emerging market marketla the -- emerging volatility. currency, nations' dollar, pound, euro. for the first time in the year, the volatility of g7 currenc

jonathan: i'm trying. thank you very much. let's head over to matt miller.ng retail, you will see kohl's missed first-quarter earnings. had an-the-box disappointing first-quarter sales -- beat on first quarter sales and earnings subject jack-in-the-box is up 10.5% and finally, let's take a look at sun edison. the fx on the solar industry still being felt. see those shares? no, all right. i can pull them up right here. trading, while that is yesterday. now, down about 2.5% but the graphic is not look as cool. amanda: they are making you work , did you make hillary mad? matt: i don't think so. jonathan: thank you very much. the opening bell is up next, futures firming up going into the open. dow futures of 65 points, s&p 500 futures positive 11 and nasdaq futures of about a half of 1% -- up about half of 1%. matt: -- ♪ [ soft music ] e.t. phone home. when you find something you love, you can never get enough of it. change the way you experience tv with xfinity x1. jon: this is "bloomberg . moments away from the opening bell. equities, futures in new york c

miller joining us out of frankfurt. turning to the deutsche agm this morning. jonathan bell is still with us.alk about the european banks. let me get this up on the bloomberg. this is the anr function for deutsche bank. if you buy still on deutsche bank, that is the green at the bottom, but thee share price has gone down. if you were an investor, would you put your hands in your pockets and say, i am prepared to give management mark capital? -- more capital? jonathan: if you are an investor, to protect your investment you either have to give more money or get something else to. the problem is, they never really got to grips with the problem after the financial crisis. they never raised sufficient capital to be able to recognize a nonperforming loan that they had is close to a zero interest rate environment. at some point, those things just slowly come out of the woodwork. and so, they still have a nonperforming loan problem and still have more work to do. they still have to raise more capital. guy: thanks in your -- banks in europe should be the big player. in theory, you should say, iw an wa

jonathan: you are going to stick with us. richard jones, thank you for joining us. what a busy session tuesday is turning out to be. let's cross over to matt millermatt: a lot of news. may be on the verge of delivering a knockout blow in today's indiana primary. him with a 15ws point lead over ted cruz. ted cruz has indicated he will keep campaigning to keep trying from winning the nomination. bernie clinton and sanders are in a tight race. clinton has 90% of the delegates she needs to become the nominee. elipe hasing fole called for elections. the prime minister's first term ended in electoral deadlock. most's parliament is the fragmented it has been in history and it has not been able to agree on a coalition government. in turkey's parliament, emotions got a little out of control. lawmakers fought each other over a controversial plan to strip them from immunity over prosecution that could pave the way for pro-kurdish legislators to be tried on terror related charges. water bottles were thrown and so were a few punches. megan: coming up, the latest data coming out of china sending the markets some mixed signals. that is next. ♪ david: this is bl

jonathan carl has the story. >> reporter: a voice from the past is coming back to haunt donald trump. and it sounds a heckuva lot like his own voice. >> what's your name again. >> john millerpe recording of a 1991 interview conducted by people magazine reporter and somebody identifying themself as john miller, supposedly a spokesperson for donald trump. >> somebody that knows and somebody he trusts in life. >> but the reporter soon became suspicious john miller was actually trump himself bragging about his own exploit with women. >> he doesn't have a lot of options. he gets called by everybody in the book, especially woman. >> the spokesman destroyed how about -- described how trump has living with marla maple, but not ready to settle down. >> he's living with marla and he has three other girlfriends. >> he even bragged that superstars pick madonna wanted to date him. >> he wanted to go out with him. that i can tell you. >> the washington post reports trump previously acknowledged using a fake name but he angrily denied the tape. >> it doesn't sound like me on the phone and it was not me on the phone. >> he's also pushing back on the ideas that voters are entitled to see h

jonathan: let's check out what's happening around the world. kongcurran is in hong wanting to know when the fed will raise interest rates. matt millers in berlin. let's begin in greece. finance ministers have reached an agreement that will allow aid to be released to ease the debt burden around the country. marcus joins us live from athens. >> aid disbursement means greece will not face a massive payment crunch to the ecb in the summer. there's also some extra money that allows it to stopping down -- taxes are about to rise. it's not going to cause jubilation on the streets. they can expect a little bit of stability over the summer. jonathan: thank you. david: are you wondering when the fed will next raise interest rates? chinese officials will ask their u.s. counterparts about the timing of the next increase. curran in honga kong. when are they going to ask this question and where? >> good morning. it shows how nervous china's leadership is of the looming fed rate hike. issuelan to raise this when diplomats meet as part of a strategic economic dialogue. a rate hike matters for china because it would put pressure on the yuan. it cou

jonathan: this is "bloomberg go," we are about 13 minutes of the session. equities opening marginally high, up five points on the dow, barely two on the s&p 500. let's cross over to matt millerbunch of these retail companies falling, you may have seen these companies when you pull up suppliers or j.c. penney's. uggs, thecker makes furry boots that tom brady and a lot of girls wear. on macy'swn 6% earnings. michael kors holdings also down about 14% through the make the bags that tom brady carries. genescort is a maker of jeans all these retail suppliers down. i'm only kidding about tom brady. amanda: he just carries the bags. matt: i'm poking fun at tom brady because he went to michigan. david: he was a great quarterback. not hard to be a great quarterback for michigan. nordstrom has a big menswear sales. settled a patent case with under armour. 3%, the retail sale, no matter where you look, down. sales are the retail problem extends to landlords as well. lower rents when context for new, department stores turned in the worst sales growth since the recession. general growth, properties as well. -- the retaillege problems going far beyond stores. david: i have to say, you are