julia? julia: now to washington. president donald trump kicked off a weeklong push for his infrastructure plan with her proposal to privatize air-traffic control. he unveiled proposal in the east room. for too manymp: years our country has tolerated acceptable delays in the airport, long wait times of the tarmac, and a slowing of traffic that costs us billions and billions of dollars in lost hours and lost dollars themselves. today we are proposing to take american air travel into the future, finally. finally. trump'sor more on critical week ahead, let's go to washington correspondent kevin cirilli at the white house. give us the highlights of what was announced today. the question for me is how likely are we to get concrete action on this? kevin: that is the big question. president trump earlier today joined by vice president mike pence as well as house transportation committee chairman bill shuster in the east room, where they unveiled this outline of sorts of the transportation plan. this really is just a way to p

julia? thanks, -- julia: thanks, julie.ess tests released this afternoon will determine whether they can -- joining us with a look at what the market will be watching for is jenny durant. analysts say that these payouts will come just shy of $79 billion is that -- billion dollars is that we are looking at? >> everybody expects most of the banks to pass, so what they are looking for is how much are they going to pay out? banks have long been constrained by these test send have not been able to add much to shareholders. this year, people are saying no banks will be up to pay off more than 100% of their earnings to shareholders. scarlet: and citigroup has been held back over its inability to get the signoff from the fed in recent years. >> i think last year, they were able to go up to a $.10 dividend, so people are hoping to go a little more than that. julia: and why bit of uncertainty today? if we look at last week, they did not incorporate the banks capital returns. they said this is a fresh look at what their progress is. >

julia: i'm julia chatterley. this is bloomberg markets.e of that announcement from donald trump and, of course, its impact. 'sining us now is bloomberg chief washington correspondent at the white house. in new york, erik paulsen, who had the cover story. kevin, i'm going to start with you. we were just talking earlier that this is about something much bigger than climate change. this is about the united state'' role in the world and leadership in technology and all aspects of advancement here. >> i'm here at the rose garden. we are waiting for president trump to come out and announce that he's not going to support the paris accord agreement. i can tell you that there is heavy scrutiny from the business community for the president to stay in. musk, who says he has threatened to leave the business council advising the president. he has completely put the united states on back footing for this particular issue. there was a letter circulated earlier by morgan's family, jp -- but morgan stanley, jp morgan, citigroup, advising him not withdraw.

julia?arlet, you expect to see a bit of consolidation when the downward trend is so steep. let's get some insight on what we're seeing in the oil markets right now. joining us from denver is tom petrie. the chairman of petrie partners and manages $250 billion of energy and mm and deals and advised the government of saudi arabia and state of alaska. good to have you on the show. an analyst said we have had not seen sentiment this bad for 20 to 30 years. what's your sense? tom: well, i don't think it's quite as bad as that. but it is -- it does remind us of pastimes when we've had downside tests. we're really at the low end of the recent range. and we had a test here earlier this year, will probably have another one. but i think we're a lot near the bottom than the likelihood that it will feed on itself to be quite as dramatic as some people are saying. not like the downside test we had in 2015. the surprise is that opec has been very disciplined with their cuts. and the problem has been there

julia? julia: thanks so much. general electric shares are rising after the company announced jeff in melt would be stepping down as ceo amidst activist pressure. hehis 16 year tenure tremendously reshaped the manufacturing powerhouse. he encouraged his staff to successort his started. >> we have better track record -- got a track record to be proud of. we have got to build on our strengths and make sure that we are known as an execution company delivering for constituents, including customers and employees and shareholders. we are thees, vehicle to get there. julia: joining us on the phone from chicago, barbara and the parini. so much for joining us this afternoon. investors are certainly liking what they are hearing today. what gives you optimism to maintain a buy rating? barbara: the transition, the timing is right. when you think about the large-scale polio transformation he put into place, it's remarkable. this is a much different company than it was 10 years ago and yet the stock continues to underperform. it

julia: and i'm julia chatterley.king news regarding the company planning to point tpg's david through a low -- david trueblood to the board. daviding to reports, bondsman of tpg resigned after making some comments after a board meeting that were perceived as sexist in a shape a party perceived as -- shakeup already perceived as uber. so now we are seeing somebody new at uber sport in this -- board's board -- uber's in the shape of david to reload -- turilo. julie: and donald trump taking a victory lap after republicans held onto their seats in the house in both georgia and south carolina yesterday. so of course, the spinmeisters are out today to talk about what this means particularly in georgia. how big of a loss was this for the democrats? >> it was a devastating loss for democrats after they put so much into this race. they had invested about $30 million between the campaign and the outside groups, according to the candidate, and after this, -- 0-4 inare 044 special elections. but they are over confirming in the d

julia: and i julia chatterley.rg's nest flash, a look at the bloombergsiness -- business flash, a look of the biggest business stories. bed bath & beyond lost money in advertising and coupon offers. the retailer did not provide a full year outlook, saying it would have more visibility after the second quarter. finish line shares raced to the year,est rally of after an upbeat assessment for the second half of 2017. finish line cited confidence in his merchandise and operational initiatives. industry is apparel being pushed as more shoppers migrate online. that's your business flash update. clobbered is a technical term for you. scarlet: there you go. speaking of clobbered, there are tech headlines that grabbed attention. travis kalanick is out as ceo of uber, plus such an a della and other tech leaders travel to the white house to meet with president trump. "bloomberg technology" anchor emily chang joins us to wrap up the week in tech. emily? thank you. im joined by our correspondent who has valiantly been covering

julia: hysteria?eil: i think it is a mixed message.if you are talking about the retail competition, that is an upturn in productivity, which implies higher neutral interest rates, which would imply the fed should presumably chased those neutral interest rates higher unless they want to be policy even more accommodative. scarlet: neil and matt. discusses phil knight his lessons of leadership with david rubenstein. aced the preview of their conversation on -- a sneak preview of their conversation. this is bloomberg. ♪ julia: what did you miss? 2017 cap mark a year of change for nike. the company is cutting jobs and revamping as global operations in over to compete with the likes of adidas and under armour. let's look at nike. the company has seen its revenue growth take a hit, slowing from the double digits advance we saw in 2015. nike's new strategic plan may not accelerate sales in the short-term. investors and analysts will be watching closely for nike's 2018 fiscal year outlook. nike is facing a res

julia cassidy.: i'm scarlet fu. it said to julie hyman. julie: that's ok is the tech .25%r etf and is up only but that is enough to push it to a new record. this is indicative of the strength we have seen the technology recently. even a small game like that is enough to push it because it has such an uptrend. take a look at some of the out performers we are watching today's session. in the chip industry, amd is rising after late yesterday and apple said as part of its developers congress that it's a new imac pro will have a processor from advanced micro devices. does share 8.5%. itsmorgan stanley calls most debated spot under pure coverage because of recent thetility, an analyst say june 20 analyst they should create more stability and sentiment surrounding that stock. then, apple itself, it fell yesterday during the developers congress -- conference. it is putting much unchanged on the today chart you can see it climbing after yesterday's decline. some of the peers are also at records. yet some of

julia? julia: where are oil prices headed next?w is the head of energy market research at our clays and in his recent note he said the downside risk your is limited. great to have you on, michael. $50 average in q4. are you confident that this will be shaken after the run of recent days? michael: we have seen for the last couple of weeks inventory data as a bit of a mixed bag. crude has been continuing to draw with products remaining where they were. still, petroleum balances are continuing to move down over the course of the last few months. we do have technology outlooks in the next two to three weeks that are probably going to be very weak. there are very few near-term catalysts likely to bring us out of this slump other than a shift in sentiment. as scarlet showed earlier, you can see the wti short positioning has increased dramatically over the last of weeks. these are basically net neutral positions. that sets the stage at some point for the later part of the start to the for a upside with the continuing of calls for places i

julia: have a great evening.. ♪ alisa: i'm alisa parenti from washington, and you are watching "bloomberg technology." the state department says the u.s. remains open to discussions despite russia's decision to cancel talks. russia canceled meetings in response to a new round of u.s. tensions. washington says they will remain until russia honors its agreements related to ukraine and crimea. the department of homeland security says there is evidence that russians targeted election systems in 21 states last year. the states were not identified, but the affected states are said to be aware. bloomberg reported last week that russian hackers hit systems in as many as 39 states. democrats say they have a better chance of winning dozens of republican house seats in next year's midterm election. that's after the democratic party lost the special election for a georgia house seat. democrats also lost yesterday for a house seat in south carolina. a police officer in critical condition and a suspect in custody today after s

julia: "what did you miss?" drop a second day. the is now whether they represent a more fundamental crack in the bull market. scarlet: i am scarlet fu. joe: i am joe weisenthal. if you are joining live on twitter, we want to close you to our closing bell coverage every p.m.ay at 4:00 eastern. scarlet: looking at the nasdaq, we are closing nearly session high. lost ground lot of in the last 15 minutes or so of the session. the nasdaq down closing less half a percent.ercen joe: still a gap but not as big as it was indefinitely all the solid lows this morning. scarlet: when you look at a different sector groups, of course, you would expect technology the worst performers here. i will show it to you in highlight the red you see across the sector. the writer read it is, the steeper the losses. if you open it up, you can see apple down by 2.4%. hpe off by 9/10 of 1%. there were a couple of gainers, including srx and wdc. you can see some of the other groups performing a little bit better here. ,f the gainers that are

scarlet in julia? julia: thank you very much.nd hotdogs this fourth of july weekend. note, two ining two bloomberg where carol massar and matt miller well cohosted the boston pops spectacular live from boston. this is bloomberg. ♪ mark crumpton. it is time for first word news. we have breaking news. new york city police are responding to reports of shots fired inside a hospital. at least you do people were wounded. police are said to be searching -- at least two people were wounded. police are said to be searching for a shooter or shootings. president trump says a change of tactics is necessary for dealing with north korea's nuclear and ballistic missile program. southke alongside the korean president at the white house. president trump: the era of strategic patients with the north korea regime has failed. many years, and it has failed. and frankly, that patience is over. said the president alliance between washington and oul is an important one, but the u.s. is renegotiating what he calls a rough trade deal with south korea. and

julia: somos ocho. ella dice que procura no salir ni a la esquina y cuando se ve obligada toma todas las precauciones. julia: tratamos de salir lo menos que se pueda, no más como vamos a traer lonche o cosas de los niños. carmen: cuando llegas a salir, ¿cuáles son las alertas, en qué te fijas? julia: pues si salgo siempre voy a--viendo a ver si no hay por allá un retén, o si está la policía por allí. carmen: y es que dice ella que si lo peor llegara a ocurrir, aunque le rompa el alma, pero sus hijos no vivirán los que ella tuvo que vivir en méxico. julia: [llora] por la pobreza. no quiero. no quiero que mis hijos sufran todas las carencias que, pues, nosotros... [solloza] no, no luché en balde. carmen: salir de la sombras para julia y raúl es de momento su mayor ilusión, aunque saben que para ello deberán de contar con la asesoría legal confiable y eso podría tomarles un tiempo. mientras eso ocurre con todo el dolor de su corazón, dicen, permanecerán cómo están. julia: mis hijos son ciudadanos, pero aho

julia: and i'm julia chatterley. reporter next is our chris stronger. turn an introduction from kevin, the first time that donald trump has admitted that he hears to be under investigation. so talk to me around that and the fact that we are now looking at the bipartisan senate judiciary committee into -- probe into the james comey firing. where does this fit with the robert mueller investigation and the houses investigation? i am confused. >> join the club, julie. this is an instance where we are learning more and more about you investigation, and as mentioned, robert mueller is doing an investigation into the russia meddling in the election, but the investigation appears to be expanding into potential obstruction of justice by the white house and the president, who fired the director handling the russia investigation and reportedly told the fbi director and other top administration officials to lay off of the investigation into michael flynn , the national security adviser. this is incredibly confusing and the president's tweets are not helping. the pr

julia: i'm julia chatterley.rlet: president trump's council will be making a statement just a few minutes. it follows james comey's testimony on capitol hill. theren see the podium where he is expected to speak. we can tell you that according s, the president dispute some of james comey's testimony and says -- let me pull that up. don't want to misquote him as we are talking about legal issues. he did say -- i'm just trying to pull up the headline -- trump never told comey he expected loyalty. that was the main takeaway. comey admitted he leaked privileged information. we will bring you that lines when they cross. julia: just in case you are worried nothing else is going on, james comey's testimony is not the only thing. the house is expected to vote on a republican-backed overhaul of dodd-frank. time are we expecting this vote? even if it passes in the house, what element actually survived when it hits the senate? we are talking that the financial health act. isexpected, the the house expected to vote and pass i

julia: it is. losses we are seeing an basis points, not impacting the dollar, rising a second day. the pound helping that rally. a post-u.k. election low. there was a survey on how they thought brexit would play out. --turous, drawn out in negotiations with delays. that is the likely scenario. bit bank ofm england governor saying it is too late to setback trade policy, even with the concern of inflation, given the outlook for brexit. i want to take a look at the commodity area. defensively, in light of what we are seeing in oil. some of the steepest losses for the ruble. joe: speaking of those commodities, let's take a look at oil and gold. we talk about oil entering the down 2%.et, below $43 a barrel at one point. here is the chart, it is really ugly. rising supply out of libya, the u.s. it is taken the wind out of the sails of that opec cut story. everyone is focusing on the supply side of the picture. good if you were a driver, but not an oil producer. julia: "what'd you miss?" senate republican

julia, back to you in new york. julia: great timing, great interview.oomberg washington correspondent kevin cirilli. ♪ julia: could u.s. shares drown the market. our next guess says those fears are overblown. us now. joining tumbles.t why would we be looking at days than absoluteher level? >> there's two things. we should be looking at foremost.s first and which is not that every week we going up.rigs second part is days of coverage. just how many barrels you have. it's how many days crude processing and refineries, how many days demand by people driving. julia: it's more moment by moment. more relevant of the use. mentioned opec. march 2018.arry on beyond >> there's that potential. there are fears that a major we think in market. they cut so much out the market. back, they'llg it bring it back all at once. are they going to be facing versus shell market share. we think they will be minute for that.l than when we look at supply and demand for this year and the essentially, it doesn't 100 percent. sense that they may not be 100%. maybe lower towards end

julia: u.s. stocks holding in green. joe: question is "what'd you miss?." republicannate leaders unveil their healthcare overhall. saying they aren't ready to vote for it. review off the annual the bank will come out one hour. the results.at and qatar express interest of buying up to 10% american airlines. as competition heat up. joe: let's look where the major averages stand. abigail is standing by. and s&p 500 are all trading higher . this after earlier this morning, flip-flopping between small gain and losses. being helped by healthcare. healthcare s&p 500 index up more than 1% on pace for fifthn record close. let's look at the worst sector 500. for the s&p the financial sector, really being dragged on by yield. ten year yield down two bases points. is -- we do have some of the banks trading lower ahead noting, wells fargo when the second release part, ubs qualitative and morgan stanley, that might be only bank to not pass. time will tell. turning to healthcare, digging in a little bit. mcgorm

julia? julia: x-ray much, jessica. scarlet: -- thanks for a much, jessica. scarlet: coming up, we will get another take on valuations, and. -- next. ♪ ♪ julia: it's not easy being a value investor in today's market .rea take -- market take bruce berkowitz for example. our bloomberg editor at large, erik schatzker, sat down with berkowitz and asked him about valuation and the flood of money going into etf. bruce: etf investing to an extent that it's a good idea, the idea being that you benefit ivy growth in the u.s. economy and the u.s. economy improves, the market improves. etf goes up in value and there's a direct correlation. only -- and etf is only as good as the constituents within it and it doesn't take into account illogical extremes. there is a point at which it makes no sense to buy etf. the general markets are overvalued or highly capitalized etf's are overvalued. it does bother me that a lot of sort of blind decisions are in that thinking is being delegated to a sort of mathematical it asian that every thing should average out ok, but last time peo

julia? julia: thanks so much, scarlet. you are looking at a live shot of the room where u.s. attorney general jeff sessions will testify before the senate intelligence committee, expected to kick off in less than 30 minutes. pressers are expected to him on president donald trump's role in the investigation into russia's interference with the u.s. election and get his side of the story on the firing of ai director james -- fbi director james comey. we will bring his full testimony as soon as it begins. in the meantime, let's go to the west coast for another bloomberg scoop on uber. ceo travis kalanick will be taking leave from the ridesharing company after a slew of workplace scandals. eric, great to have you on. welcome again to it feels like we say this to you a lot. he is going to be leaving, the ceo, and indifferent defendant about the time away, it seems. >> right. initially there have been this question of the three-month leave of absence. now it is indeterminate how long. it comes right after his mother's funeral on friday, and during this really hard time for the compa

from new york, this is bloomberg. ♪ julia: in julia chatterley. "what'd you miss?"ding consumer and specifically looking at household spending in the u.k. i think this chart is incredible. if you look at these savings data for the u.k., the change in britain'snce 2015, have saved the smallest proportion of their income since 1963. we have a perfect storm going on . we have the cost of living going up, wages are not increasing. consumers are feeling a real squeeze on their disposable income, and then you have the bank of england warning about the risks being posed about the the level of consumer debt. consumer debt levels are rising five times faster than the growth of the economy. saving less, binging on credit, the cost of living going up, wages are not. joe: there really is an extraordinary chart. maybe people are like, well, it is the final party. here are consumers who actually appeared to be in a good mood. change inyear spending on aircrafts, boats, rv's recreational vehicles. this goes back to 1996. if you look at this, it is absolutely surging. big-ticketg o

. ♪ julia: live from bloomberg world headquarters in new york, i'm julia chatterley.carlet: i'm scarlet fu. joe: we are 30 minutes from the close of trading in the u.s.. julia: u.s. stocks fluctuating near records. joe: the question is, what did you miss? scarlet: executives announce a number of upgrades and overhauls including a new smart home speaker. called the home pod. the highlights coming up. a crucial week for president trump. rolling outuse is its infrastructure plan, but all eyes will be on former fbi director james comey and his testimony on thursday. we set up the week in politics. for arab nations cut rolling out its diplomatic and tha economic ties with qatar. we will dig into whatsit stake with the sovereign fund and countries that look to it for funding. great show coming up. it lets get a look at where the major averages stand as we head towards the close. abigail doolittle is standing by. abigail: we are looking at very small declines for the averages heading to the close. nasdaq, s&p 500, and down fractionally. these losses might be very small but w

julia: moving on moment for you? jon: from the paris deal? julia: yeah.: i'm ready to move on from it. the reality is with the swings in u.s. politics, another president could bring us right back into it. so i don't think this is the end of the paris agreement. i don't think this is the end of u.s. involvement in these climate actions. julia: willing to negotiate. scarlet: thank you so much. ohn john head of -- jon lieber ahead of eurasha policy group. julia: bloomberg television will break down the numbers with bill gross of janus capital and mohammed el-erian. and programming note from new york. this is bloomberg. ♪ joe: what did you miss? stocks trade near record highs, how should investors hedge themselves? i want to bring in meb faber, co-founder and chief investment officer of cambria investment management and joins us from los angeles. thanks for coming back. so people have been buying protection on anticipation that eventually volatility is going to come. but it's been costly. volatility has been very muted. correct strategy at this point in the c

julia: live from bloomberg headquarters in new york, im julia chatterley. scarlett: i am scarlet fu. joe: i am joe weisenthal. first news, what did you miss? : tech stocks getting slammed on heavy volume. have we seen the top in big cap tech shares? learning to expect the unexpected. u.k. election results leave investors with few clues on how the pound will trade in the near term. . deadly drug epidemic the fda is taking its first steps to address the opioid problem. what this means for drugmakers, coming up. julia: welcome once again. where the a look at major averages stand as we head toward the close. abigail doolittle is standing by. abigail: after several days of not really having big moves, today we have very big moves and lots to talk about. first, the nasdaq down in a big way. all of these averages had intraday highs. dow on track for a record close, but the nasdaq down sharply, on pace for the worst day since the record of last year. the turn lower started around noon, and it appears there is a momentum shift out of tech into financials. we will be

julia: does it really?e out you are going to go short, like with this prothena stock, it is down 8%. when people look at this with your announcement, this could be my stock, this could be one i'm invested in. investors are not sure. stockse are thousands of listed in the u.s.. why would somebody take a preannouncement and decide they should short? if i am really that powerful, i would think that i would have arrived in the studio in a helicopter. i did not. people should not assume when i could be talking about one of thousands of stocks that it is their stock. if you take a market like hong that is stocks selloff, 50 stocks that are probably extremely poor quality and investors are duly worried about that. if they are worried about that, maybe they should not be trying basically.se bowls, that is why it says a lot more about the market. julia: so you are saying hong kong and canada are bubbles? >> individual stocks could be bubbles. i am not familiar with the long or short on the other stocks that went dow

julia: that they that tomorrow will be crucial.is the two hours, we will learn whether china's domestic shares will finally be included in the benchmark share index. china's already been rejected three times. if china is approved, how will it impact investors? joining us now is mike mckee. great to have you on. there's a big run-up in share prices -- than the share prices selloff. mike: they have failed so many times as msci has now modify the process such that they will only have a small section of the number of listed shares -- the impact will not be that great. they have 448 stocks, but they will only include 169 in the beginning. that would be one half of 1% of waiting in the emerging markets index. estimates theics rebalancing that would be undertaken by portfolio managers would only amount to about $8 billion. it is a $2 trillion index. julia: there's plenty of other chinese companies already included in the msci index. you have a shares and b shares and red chips and gdr's of u.s. companies. are tradeddr's around the world a

julia? apple -- shares of apple are high today after the highly anticipated worldwide developers conference starting on monday. we get a preview of what to expect. from new york, this is bloomberg. ♪ julia: this is bloomberg market, i am julia chatterley. i am scarlet fu. let's get a look on some notable numbers right now with julia. >> we are focusing on retail with this consumer discretion. sean evers here -- shares he are up 12.5% after the company reported they beat estimates after sales declined less than estimated. lululemon is also scaling back on its line for girls, closing some of the stores to keep the business online. on the flipside side, we have restoration hardware. that company cut forecasts given two months ago, calling on one analyst to say that the --panies desk the's y's think -- companies in question. -- this is the second-best performing group in the s&p 500 this year. then we have consumer confidence in blue and consumer spending in yellow, both of those have taken a tu

julia: the question is when.is interesting when you talk events,e possible risk yet the vix down in the doldrums. i'm going to debunk one of the myths out there. the s&p real-life correlation -- the correlation between individual stocks. and that is the white chart that you can see there. the yellow line is the vix. below stock correlation has been suppressing the vix -- low correlation, then stocks are moving at odds with each other and there will be less top-level. if you look at this, actually, what we're showing is realized correlation has been rising as the vix has been falling. not a good enough reason to talk about the suppression of the vix. realized relation is and what is going on. good one, because the declines throughout you were cited as an expedition. julia: exactly. talk about it in november, december, january, but not since then. joe: speaking of risk, gold at the highest level, the white line, highest level of the year. safe-haven stuff and all kinds of reasons -- there is really only one chart y

. ♪ julia: live from bloomberg's world headquarters, i am julia. scarlet: i'm scarlet fu.oe: and we are 20 minutes from the close of trading in the u.s.. julia: it is the tech stocks that are the session winners. miss?"hat'd you -- scarlet:meters harvester theresa may's election defeat -- preparing for an amazon monopoly. amazon owned hold foods -- owned whole foods look like? we look at the latest on his four-year legal battle over fannie and freddie. julia: let's take a look at where the average media averages stampeded bloombergs abigail doolittle is standing by. abigail: we have the dow and s&p 500 and the nasdaq all trading higher. , both of those indexes on pace for their best session since june 1. the nasdaq up one and one quarter percent. really nice there driven by technology. we will be taking a look at that. let's take a look at the haven assets. we have the 10 year yield higher by four basis points. we also have the yen trading lower against the dollar. not having much of an appetite for those haven assets. the banks standing at 3% since that tech selloff start

julia: thanks. "what'd you miss?" another wild week in washington that started with an investigation into possible ties 'stween president trump associates and russia. rumors of a white house shakeup come the resignation of the white house communications director and the president's controversial decision to withdraw from the paris climate accord, a move that has drawn furious condemnation from ceo us, scientists, and world ceo's, -- from scientists, and world leaders. great to see you, as always. what did we learn in the press conference that we did not know yesterday? do you think the fact that they even held it suggests some kind of surprised from the administration at the back laissez have received? >> they held it because they expected questions on what is a decision with global consequences. -- do you think the fact that the even held a suggests some kind of surprise from the administration at the backlash they have received? >> pruitt said the president made the decision he made based on economic factors alone,

julia? julia: much more ahead on the treasury department's unveiling of new sanctions aimed at pressuring north korea. forear what it means relations with south korea and the border region next. this is bloomberg. ♪ julia: this is bloomberg markets, i am julia chatterley. scarlet fu. i am let's head to julie hyman for the sectors report. julie? >> this is not the worst performing section or the best-performing, down about half of 1%. we have seen it bounce off the lows of the session, but if you look under the hood we have some big, big movers to talk about here. one of the has to do with deals. walgreens is canceling its deal ,o buy write a -- right aid buying a smaller number of stores were less money instead of buying the whole chain for seven point or billion dollars. paying for 2200 of the stores instead. bank of america merrill lynch said that their standalone value is only $1.50 a share. walgreens is up a bit, and think which was set to buy as many as 1200 locations from right aid as

julia: and can they bring the spike in premiums down?uld be an argument for some of the holdouts. so far, we have not gotten that information. howlet: we have seen politicized cbo scoring has become. when it bolsters someone's case, everyone comes out and supports it. when it doesn't, everyone says s the cbo anyway. nevertheless, according to the associated press, the cbo has found there will be 22 more million americans uninsured by 2026 under the senate version of the health care bill. this is bloomberg. ♪ scarlet: breaking news. we have gotten a cost estimate from the congressional budget office. they estimate that 22 million people would lose coverage under the senate health care bill. there is a cost savings as well. by enacting the senate legislation, according to the cbo, it would reduce the federal by 2026.y $321 billion that's 226 billion dollars more than the bill passed by the house. let's get your take on this snapshot from the cbo. better than the house bill we got, but as you pointed out earlier, the critical details come d

julia: really? >> that is a good attitude to take. julia: does she really have that attitude?s they are watching the market closely and are fearful to not to stabilize it. >> they don't want to destabilize it. they are trying to dutch the markets -- nudge the markets in the direction that is favorable to the fed. what would that mean? i would not say crash the stock market. get bond rates going up revenue and going down. of the the announcement balance sheet policy which came faster than i was expecting is a step in that direction. get the markets thinking that the fed will be throwing mbs out thered sooner than the markets thought. joe: thank you very much. coming up, other central boe, boj. week, the what will these decisions mean for the fx markets and the fed. this is bloomberg. ♪ >> louisiana congressman steve hospitalized in critical condition following surgery after he was shot along inh several others arlington, virginia this morning. forlawmakers were preparing a charity baseball game against congressional democrats scheduled for tomorrow. four others transferred to t

julia? julia: let's get to the latest remarks from fbi director james comey. we are expecting this statement from james comey tomorrow. kevin, let's look through what we have here. this was on the dinner between resident trump -- president trump and james comey as -- kevin: the wanted -- president was asking for his loyalty, and was clearly a conversation and a question that made comey feel uncomfortable. on at some length about this, writing about the way he felt an awkward silences, where he was sitting, and said he could not quite promised loyalty because that was not quite appropriate. overall, it is a remarkable statement, where it goes through a series of encounters, meetings, and conversations he had with president trump where you have this theme of james comey feeling at various points of awkwardness and appropriateness going on, immediately so to where he would start document to get in the memos that we now know of. scarlet: let's pull up a section of this memo that he documented he

julia: thanks very much. "what'd you miss?"on a drugmaker alleging its lead drug is not better than standard chemotherapy. one man who did defend prothena joins us now from our san francisco bureau. thank you for joining us. you say there is nothing new in this report. they suggest investors are being misled by the data. what is going on? >> that's a great question. thank you for having me. the question that has arisen, -- this drugthat has been around for quite some time, actually, since 2014. the company has provided evidence to the contrary at major medical meetings among other things. in addition, when we talk to physicians, they are quite pthprised by both the de and effect of prothena's drug. specificallyked about the benefit between the drugs and if the data suggested the chemotherapy some of these patients have already received is having a benefit. just listen in. >> i think the street is way too bullish on the data. the street seems to think the data shows that the drug is efficacious. we do not think the trial data sh

julia: i think the jury is out. is so much rampant discussion here in london that she probably will, but not yet. the jury is out. if she can make sure she comes out hard and strong in the eu, remember, it is just 10 days before brexit negotiations with the eu are supposed to start. if she can make a strong hand with them, reasserting her authority, perhaps saying that they will not be on the cusp of is currentlyns, as being demanded by the eu, she could manage together the strength of her own hard-liners in her party, and keep the democratic unionist party onside from ireland and push forward. many have said, we need some sort of consistency here. the electorate doesn't want another general election this year. we have already had one every year, whether it the a referendum or the general election two years ago. time will tell as to whether she can rally support. for now, she is hoping gathering the same old dream team around her will somehow give her consistency. julia: not such a dream team. scarlet: caroline hyde

julia roberts. >>> and julia roberts has a fixer-upper. why is it selling for $4 million?ia's fixer-upper. it's a 1620 square foot model built in 1929. it could use sprucing up, but the price, $3.9 million. it sounds crazy, but there's one feature that's adding a lot of zeros to this diamond in the rough. it's located in malibu. her neighbors include matthew mcconaughey and barbara streisand. it's accessible to the public near the dune beach. it's a nice piece of land for weekend getaways with husband, danny, and their three kids. the couple have two other malibu properties. >> by the way, julia parking lotted with a huge piece of property, an ocean-front home in hawaii which she sold for $16.2 million last november. >> she wants more fix-uppers. she can afford them. >> sounds like par advise. things are heating up in mexico mexico on the set of bachelor in paradise. as the crew resumed filming after the a few of them were eager to start over. >> i'm excited to pick up where we left off. >> that's former "bachelorette" contestant, robby hayes, eager to return to mexico yes

thanks, julia leite.ing up on the european close, we are following stocks less than 35 minutes until the end of the tuesday session. stocks are lower today. a day dominated by central bankers. we have had the ecb president speaking in portugal. janet yellen speaks in london, later. ♪ mark: at 11:00 a.m. in new york and 11:00 p.m. in hong kong, 30 minutes left in the trading day. from london, i mark barton. vonnie: from new york, i am vonnie quinn. this is the european close on "bloomberg markets." ♪ mark: here are the top stories we're covering from around the world and bloomberg. major technology stories today -- the eu slapping google with a record $2.7 million fine allegedly boosting its own search results. companies from merck tech and advertising giant hit with a cyber attack. big news from central banks today. ando draghi is in portugal is the boe's connie going to toughen requirements for lenders? that is due before janet yellen speaks to the. day. oil prices hovering around the lowest levels in tw

julia roberts finds a home that's a fixer.r-winner getting into the renovation game? julia's fixer-upper. it's a 1620 square foot model built in 1929. it could use sprucing up, but the price, $3.9 million. it sounds crazy, but there's one feature that's adding a lot ofsores to this diamond in the rough. it's located in malibu. her neighbors include matthew mcconaughey and barbara streisa streisand. it's accessible to the public. the dune beach. a nice piece of land for weekend getaways with husband, danny, and their three kids. the couple have two other malibu properties. >> by the way, julia parking lotted with a huge piece of property, an ocean-front home in hawaii which she sold for $16.2 milli $16.2 million last november. >> she wants more fix-uppers. she can afford them. >> she sure can. >> we'll be right back with "bad moms" star, mila kunitz, how she is doubling down in this sequel. next on kron-4 news at eight: human remains left in trash bags. the gruesome discovery in the east bay --- could be a possible break in a f

julia: i'm so glad you talked about sterling. down 15% versus the dollar since that brexit vote and gained and i will at this.ick go we have the egyptian pound. --rra leone, congolese mongolian currency. so, it's a holiday destination. yeah. be sure my mom and dad will visiting that anytime soon. that has done well. but some of those holiday destinations -- joe: sterling is the second worse. julie: good thing in your in the u.s. now -- scarlet: good thing you are in the u.s. now. the market closes next. we look at the major indexes. the s&p 500 is up 1%. this is bloomberg. ♪ "ulia: "what'd you miss? the s&p 500 and the nasdaq ending higher. a are drifting into a bear market. i'm julia chatterley. scarlet: i'm scarlet fu. i'm joe weisenthal. if you are tuning mliv on in live on tuning twitter, we want to welcome you. tohing the s&p and nasdaq close up in green. without finishing there, nasdaq of one half of 1% rate if you look at it on a weekly basis, the week higher for the fifth straight week. pretty impressive in light of the n

. ♪ julia: live, i am julia.carlet: i am scarlet fu. >> stocks calling a two-day slide and session highs. joe: the question is what did you miss? scarlet: comey's's prepared remarks, a written statement released days before his highly anticipated hearing. he appeared to feel that president trump pressured him about the russia inquiry. the president saying he would nominate a former justice official to replace comey as the new official of the fbi. a live reaction i'm congressman french hill of arkansas next. here in new york, the bloomberg invest summit is underway. withclusive sitdown elliott and blackstone ceo steve schwarzman. all of that this hour. look at wherea major averages stand as we head toward the close. abigail doolittle is standing by. abigail: we had stocks at session highs p that is true. small gains snapping a two-day decline we were talking about where we have more action. oil 5%. it had on paper its worst day since the end of may. it's longest stretch. and bloomberg intelligence analyst in the c

kevin: absolutely, julia. he was stringent and adamant that he had no type of collusion communication with russian officials. he was pressed on this, and to be quite frank, you will hear strong criticism coming from democrats who said that he did essentially invoke executive privilege, because he dodged repeated questions about his own communications with president trump. democrats are already taking to twitter to criticize that. i would anticipate that that line of attack is going to continue. republicans are going to say this was pretty much a boring hearing, i'm nothing -- a nothingburger, in that the critics did not get the kind of smoking gun that they tried to get from these hearings. most folks when you talk to them suggest there is not enough evidence right now for there to be any type of charges brought against the administration or particularly the obstruction of justice charge. i'm not sure that today's hearing is anything to change the political makeup as of now. that said, i think it is only andg

julia: and you have it. had 20 break, you can see the market tipping to the data -- to the downside. more to come. this is bloomberg. ♪ amazon'sg story is $13.7 billion purchase of ". -- whole foods. >> i am joe weisenthal. if you're tuning in live on twitter, we want to welcome you to our coverage every weekday from 4:00 to 5:00 p.m. eastern. >> we begin with our market minutes. we have to begin with amazon and whole foods. we have been talking about it all day since the news broke in the session. that was the big story. there is that movement and the dow and the s&p 500. west today was the first day that trump was pleading. it, let's have a theyat amazon and all expected to counterfeit -- 48,000 based on their of ways. this is just under 2.5%. amazon is now the grim reaper for staples retailing. let's look at some of the competitors in this space to give you a sense of what we saw. as you can see, we are down 4.6%. that is the entire purchase price of whole foods. it wasn't just about the food grosses. it

. >> julia and cameron, see how young they looked?assive amount back then. >> it was. money was on their minds when we joined the cast at the new york premiere. >> we decided before we came here if this movie doesn't make over $100 million that we'll get married. >> what is it about julia that america just loves so much? >> i think it is her eyes. she has something really magical that just draws you into her. >> in the movie julia's best friend, dermott mulroney marries cameron diaz. >> and joining the premiere was julia's real life ex-husband lyle lovett. >> he's such a big supporter of you. >> he better. i bought him a ticket. >> he said you guys are still great friends. >> yes, we are. >> hello? >> i didn't notice any bruises on the knees. >> the cameras go down again. no, i survived it surprisingly well. >> sure did. survive and thrive. >> and always a good sport. >> "the insider" tracking the biggest stories making news today. >> it's raw. you know -- it's rough. your bones burn. >> number one carrie fisher's autopsy reveals a li

julia ioffe, moscow born journalist. why d and jeremy bash, former chief of staff at the cia and pentagon. also former chief counsel to the house intelligence committee. welcome to you all. robert costa, it was understood by people who watched this white house there were two audiences for that today. number one, the millions of people watching at home, even include in that members of the senate questioning the attorney general in front of the committee. number two and perhaps the most important audience, an audience of one, the president of the united states. how are they saying he did? >> based on my reporting, brian, the president remains frustrated at the so-called cloud which he refers to behind the scenes remains that these russian questions are not going away. and attorney general sessions' testimony has in no way really stopped these ongoing investigations or the mounting political problems facing him and the republican party. but yet they don't really have a strategy yet about how to deal with it. there's talk ev