i'm julia chatterley.ontinue our global tour of the week's top business stories in china, where the government hosted a summit to advance its ambitious belton road initiative. >> more than 60 countries involved in the belton road initiative have issued a joint communique promising to expand trade and investment after the chinese president said the plan is already in full swing. how much progress has beijing made to move this usually a -- this hugely ambitious plan forward? >> we are getting now is a solidification of some of these parameters and getting some of clarity around some of these parameters and questions that need to be answered. we have this communique was put out by the belton road members who came here. they said and vowed to continue to push forward with globalization, trade, and investment. we also had details around financing proposals, concerns being voiced by the germans that the bidding process process may not be transparent or fair. the germans are pushing for more clarity on that. the

i am julia chatterley.s is "bloomberg best." your weekly review of weekly analysis from bloomberg television around the world. it the week began with important news from oil global markets. oil cuts are likely to continue. he is going to head straight to beijing where the saudi a arabian oil minister is speaking. let's take a listen. >> we have come to the conclusion that the agreement needs to be extended. we will not reach the desired inventory level by the end of june. and therefore, we also came to willonclusion that ending probably be better at the end of the first quarter of 2018. with the same volume allocations that would -- allocations that were included in the agreement we entered into of december of last year. >> saudi arabia and russia are making strong statements , including a joint statement that they will do whatever it takes to get to their long-term goal of reducing global inventory. >> the market is fresh and healthy. it is able to get a rally. this bullish news came at a good timing for t

on julia chatterley. scarlet: i'm scarlet fu. look at some stocks in the liquid category of various kinds. that is my theme. let's start with booze. constellation brands is up. cow when analyst is saying that the three-month dollars sale is 3.1% and 2% at these companies. that is according to the national alcohol beverage commission, the results of various states for april. brown-forman in particular is benefiting from that. sticking to liquid of a different kind, soup. campbell soup shares are up better than 3.5%. down 2% friday following the company's earnings report, even though the midpoint below forecast was estimates. they are bouncing back in a big and then we can move to non-edible liquids. that is one of the things that hans smit and makes, the chemical company. lower, eventurned after it agreed to be bought by clarion. there has been a lot of chemicalg in the industry. now it looks like a bad deal is indeed materializing. finally, a place where you can buy liquids made by all of these companies -- i'm not sure if it is t

julia: i'm julia chatterley. welcome to bloomberg markets. ♪ we are live at bloomberg world headquarters in new york over the next hour. let's start with the top stories we are covering from around the world and on the bloomberg. president trump getting ready to take off on his first overseas unwanted with some baggage intel. we examine the challenges facing the president and where this leaves his agenda at home. speaking of his agenda, the president's plans for tax reform have stalled with gop leaders lit and democrats are fusing to sign on. we will hear from you i will he on why comprehensive reform is so critical to this business. fund manager leon cooper settles with the sec on avoiding a band from the industry. it is the agency's most prominent insider trading settlement since trump took office, but what is it tell us about the administration staying -- a stance on financial crime. we have this rebound. this is not being led by everything, but it is pretty broad-based here. we see energy stocks rise, materia

i am julia chatterley. scarlet: chaim scarlet fu. welcome to bloomberg markets. live in bloomberg's world headquarters in new york over the next hour. here are the top stories we're covering on the bloomberg and around the world. in markets, one hour left in the trading day. bank and tech stocks pushing the nasdaq to a new all-time high. the dollar and treasury yields also rising in the session. is leadingthe beast the global box office this year the company told a different story compared to media network. will the earnings be a beauty or a beast for investors question plus, a ceo tells us why he supports president trump's plans to renegotiate the north american free trade agreement. that, plus how it is expanding its global footprint in the middle east. just one hour now from the close of trading. julie: with julie hyman. --another mixed picture day, let's check in with julie hyman. julie: another mixed picture day. a little bit of a sideways movement for most of the major averages. let's look at some of the movers. we are saying more of a dramatic move. gains.s

julia: and i'm julia chatterley. time for the bloomberg business lash.ian mortgage lender pony capital group continued its massive decline after reporting more with draws. it extended the drop to nearly 80% on concerns redeeming investment certificates were worth it. huge interest deposits declined over the past month, raising concerns that it could spread across the industry. but u.s. supreme court issued a mixed decision on the reach of the main federal housing discoloration laws. courtstices told a lower to reconsider whether miami can sue banks were lending practices the city believes contributed to urban blight. partial victory for bank of america and wells fargo which appealed a lower court ruling that said miami could press the suit under the fair housing act. miami is suing citigroup, but the bank was not part of the supreme court case. haveal prosecutors subpoenaed bnp for possibly manipulating the u.s. treasury market. according to people familiar with the matter, the justice department issued the subpoenas last month and has been examining the

i'm julia chatterley. scarlet: i'm scarlet fu.n though the volatility index is at a historic low and we are talking about the vix come investors are still finding reasons to protect themselves from volatility. oliver renick joins us with a couple of cards to explain what is going on. there's a lot of stuff going on with volatility. right now, it is the focal point of the market. as it pertains to money going into the part of the market you might think is not very active at the moment, it's the u.s. and the minimum volatility etf. etfow of funds into this that bases itself on finding low volatility stocks in the market. if the volatility is low, why do we want to do that? this is the flows into the etf. in, in, and. their objective is to find low volatility. the market has not been very volatile. i want to point out the bottom panel. these of the correlations to the 10 year bond and the bloomberg barclays index and the actual vix index. lots of reds and greens. they don't see a high vix. there's a slightly stronger correlation to t

i am scarlet fu with julia chatterley. ting earnings today, snap, the first report since it went public. alex barinka has details on what investors will be watching for. alex: when snape went public, he did a lot of sharing about the past. what investors got next to nothing when it comes to forward-looking guidance. wall street is eagerly awaiting the company's first earnings report. it could set the stage for how investors see the company. when twitterverse reported earnings in 2014, its stock plunged more than 24%, because wall street was concerned about the company's user growth rate, and in 2012, when a star credits first earnings report from its stock is up -- one facebook had its first earnings report, stock fell more than 11%. they would never make money off of mobile phones, where users were migrating. alex: facebook and twitter have condition investors to focus on user growth. but that is not the snap -- not what this net investment team -- not what the snap investment team thinks wall street should judge them on.

julia: this is bloomberg markets, i'm julia chatterley.usket: back in 2015, elon delivered the model s after years of delays. but the model x continues to navigate a bumpy road. jan all has been tracking tesla's pace for years, and joins us from san francisco. are these self-inflicted wounds or something that has been conspiring against tesla? >> tesla has not been model.ming about the voestalpine wing doors were not easy to engineer, and i think -- note falcon wing doors were easy to engineer, but i think they have learned their lesson and will and will and that with the model three. tesla is in this spot where the model s is their flagship, they have the model x, and now they have the model three, another sedan. where does the x fit in this lineup and what is demand like going forward? has pointed to this thetweeted "we are making simplest model three first, like the s. we did not do that with the x because i was an idiot." tesla has stressed over and over again on recent earnings calls that this model three is designed for manufacturing

i am julia chatterley. scarlet: and i'm scarlet fu. ime for the options insight with julie hyman. julie: joining us, kevin kelly, the chief investment officer at recon capital. where is everyone? we saw friday it will left for the holiday, but volume low today, volatility obviously low today. why having people come back into the markets? kevin kelly: there is no news on verizon. what was pretty telling last vix wentthe short-term to an all-time low. it has only been around since 2011. it went to 7.6. it is down 30% for the week. when you couple that with volatility going so low and skew, the tail risk -- it came down from 130 to 125. when youcally goes off hit volumes in -- bottoms in volatility. that tell you people are confident there will not be downside moves. we have not seen a move below 5% in over a year. julie: tenants of the horizon. if had lael brainard saying inflation is depressed, maybe the fed will back off, and that caused a little bit of a ripple in the treasury market, but not much movement and reaction. kevin: not much

i am julia chatterley. their breath for the results of retailers, and the biggest did not disappoint. >> walmart with momentum against 2%,on, stock up over e-commerce business killed it, 69% volume up in the last quarter. >> there are a couple of things. a big thing is marketplace. walmart has been able to add more stuff through third-party retailers and sellers the way amazon has done. the old-school metrics that walmart used to be good at, return on investment coming share repurchases, those investor-friendly things are taking a backseat, and we are seeing they are investing in big andowth, so it is hard to do both at the same time. investment in gaming paying off, posting record quarterly sales and profits the top testaments. honor of kings drove one billion plus users on wechat. >> we are seeing tencent become this hybrid of facebook, amazon, marvel, and netflix. they beat all estimates for revenue and profit this quarter. most of the growth was bolstered by their mobile game, specifically honor of king

julia: i am julia chatterley.carlet: steve mnuchin gave his first testimony since being named treasury secretary. here is what he said about the president's tax plan. : thetary steve mnuchin president does believe we need to create economic growth and we are willing to have lower tax revenues in the short-term if that will create economic growth. as i have said, the difference between 2% and 3% gdp is roughly $2 trillion over a 10-year third period of time. it is a lot of money, and economic growth will help us deal with a lot of other complicated issues we have. scarlet: that was his direct response to a question from republican senator my grounds from south dakota. he joins us now. senator around, think you for speaking with us. we know you are in favor of a balanced budget. i you comfortable with the secretary's assertion that any tax plan should be paid for with economic growth? sen. rounds: yes, in fact i was pleased to hear they were not going to try to do a neutral one where the deductions were being taken

i'm julia chatterley. scarlet: i'm scarlet fu.'s get a check on some notable movers with julie hyman. julie: i want to look at some of the down movers -- tesla shares getting hit after one analyst who has been a longtime bowl in the stock downgraded the shares to equal weight. competethe case will with the amazons of the world and perhaps the risks are not fully priced in at this point. harley davidson trading lower after wedbush said and expected lift in sales may not be coming anytime soon. those shares down 2.5%. sears down sharply, the ceo firing back at some of the suppliers of the company, saying they are trying to take it and it just sears, saying dire protections about the retailers future has hurt his addition with vendors. one hong kong-based company says it might sue sears. exact sciences called today saying the ultimate value could be zero. is company's sole product not appealing to customers at this point. some of the up movers we are watching -- the energy select spider trading higher with oil prices. the cybersecuri

this is bloomberg. ♪ ♪ julia: this is bloomberg markets, i am julia chatterley. let fu. julia: in brazil, the bar association has filed a request to impeach you president, coming after demonstrations against the embattled president exploded into violence across the capital city yesterday. protesters set fire to the agricultural ministry and trust several government buildings and class with police -- clash with police. they called out the armed forces. what do we know about the association decision to request an impeachment from the president in brazil and how important is this? ,> just a couple of minutes ago representatives of the bar association walked into congress less than a mile from here and formally filed their request for impeachment hearings against the president to be initiated. there have been others but arguably this is the most important one, the bar association is highly influential and are arguing that the president is trying to cover up a massive corruption probe going on for years in brazil and used his influence to help individual friends. is wh

julia chatterley: and i am julia chatterley. welcome to bloomberg markets.ve from bloomberg world headquarters in new york over the next hour. here are the top stories we're covering. we start with politics. witchhunttrump tweak as a special counsel is appointed to probe his ties to russia. the turmoil in washington creating major roadblocks for trump's agenda. was it with the public and senator mike rounds of south dakota on how legislation could get back on track. then, the cover of business week asks if the united states was a company, would it keep president trump as its ceo? we examine this week's drum at the white house through a business lens. and in markets, buyers in the u.s. are emerging a day after turmoil sparked concerns on wall street. stocks are recovering from the war selloff of the year, but if we look to brazil, equities are a sea of red thanks to a

i am julia chatterley. scarlet: i am scarlet fu. joe: i am joe weisenthal.f you are tuning in live on twitter, we want to welcome you to our closing bell coverage. scarlet: we begin with our "market minute." we talk about how this is a risk-off moment. when you look at the actual numbers, they are not large by most measures. off by 1.8%. the hundred 70-point drop. -- 370-point trumpet nasdaq is off by more but you expected to be in this environment. julia: i used a keyword, "turmoil." relative. joe: by 2017. scarlet: well said, well said. this is a pretty broad-based retreat. as a globalt it selloff, and here is where we look at the all-country world index. this is a way of looking at the decline in global stocks. this first red arrow points to the open of european trading could it is kind of middling along. asian stocks up on the day. european stocks dropped on the open. this leg lower is when european stocks opened. afterglow. attended a bit of a comeback, but right now closing at session lows. in terms of individual names, a lot of concerns about whether

this is bloomberg. ♪ julia: this is bloomberg markets, i'm julia chatterley.and i'm scarlet fu. let's look at some of the world's most talked about stories from the city to wall read -- wall street. jason, let's start with berkeley berkeley's ceo. >> that's right. staley has not been having the smooth road in his job at berkeley. and now coming out that he was recently of victim of a hoax. thought wasail he his boss and wrote back a it was notil, and from his boss but a gmail account. he mixed humor with grit. he mixed humor with grit. how unfortunate. jason: and everybody reads this and especially on wall street, d thinks ooh. scarlet: cringes. julia: and with a grunt told customer as -- and dealing with a disgruntled customer as well. is this a step too far? i'm the last person to laugh, i feel kind of like a killjoy on this one. i'm actually starting to feel sympathy for him. jason: it is hard not to feel some sympathy in this situation given everything that has been going on and also because we are all -- i think that is one of the reasons readers and view

julia: live from bloomberg world headquarters in new york, i'm julia chatterley. scarlet: i'm scarlet fu. joe: i'm joe weisenthal. we are 30 minutes from the u.s.. scarlet: the s&p 500 at age two months i. joe: the question is, "what'd you miss? --"what'd you miss?" scarlet: we dig into the jobs report. wtide ride for crude oil, falling overnight below $40 a barrel. and this weekend is the second and final round in the french presidential election. it is decision time, macron or le pen? joe: let's look for the major averages stand as we head toward the close. abigail doolittle is standing by. another day of unchanged, wishy-washy trading, we are looking at small gains thethe major averages and s&p 500 is on pace for its first record close since march 1. it can basically close above 2396. let's keep our eyes there. on the week, we are also looking at gains. a bit of a bullish stretcher. turning to the top stories on the week, tech and energy. in white, that is the s&p 500 tech index. on the bottom, that's the s&p 500 energy index, down 4% on the week. of course, oi

from new york, this is bloomberg. ♪ i am julia chatterley. scarlet: and i am scarlet fu. bloomberg markets." julia: we are live and bloomberg world headquarters in new york. to the top stories we're covering -- president trump campaign on the promise of regulatory reform for wall street. in an exclusive interview, the former sec chairman rijo white gives her perspective. and what impact has the president of the policies had on business is so far? some would argue they are helping the rich get richer, look at a billionaire and special advisor to the president's $50 million windfall, carl icahn. let's check in on markets. if you look an hour after we got the release of the fed minutes, stocks are a little bit higher than they were at that point. it is unclear what traders are fixing on here. looking at some of the notes that came out after the minutes were released, it seems perhaps the fed's plan for reducing the size of the balance sheet was more organized or more orderly are more fully formed than some were estimating. so we have stocks near the highs of the session. buyi

i am julia chatterley. scarlet: and i am scarlet fu.t lackluster wage growth should get a spark in coming months. standing by ins stanford with a special guest. mike? michael: thank you very much. we are with john taylor, perhaps -- nation from rest known best known economist. he came up with the taylor rule, and he also put together this conference. thank you for joining us. we should mention that you're on everybody's short list for the chairman of the federal reserve if president trump to make a change. let me ask, what do you think of the economy right now and what you think the fed is doing? think theor: i economy was weekend the first quarter, but it is picking up and i think a lot of people expected that. the first quarter was unusual. i would like to see higher growth. in thisthis 2% growth recovery has been not so good, so i think the main task is to increase growth down the road, and that is tax reform, regulatory reform, thanks not that you try that. we have had relatively low interest rates. the president is looking for mone

julia: i'm julia chatterley.bloomberg markets. ♪ we are live at bloomberg world headquarters in new york over the next hour. let's start with the top stories we are covering from around the world and on thebloomberg. president trump getting ready to ta off on his first overseas unwanted with some baggage intel. we examine the challenges facing the president and where this leaves his agenda at home. speaking of his agenda, the president's plans for tax reform have stalled with gop leaders lit and democrats are fusing to sign on. we will hear from you i will he on why comprehensive reform is so critical to this business. plus, hedge

julia: and i am julia chatterley.oomberg markets. ♪ fromet: we are live bloomberg world headquarters in new york of the next hour. let's get straight to the top stories we are covering from around the world. president trump rubbing else with -- elbows with global --ders at the g7 senate summit while back home, his son-in-law jared kushner is apparently being investigated by the f ei. founder elon musk is tweeting that he was an "idiot" for making his model x too complicated. and mark zuckerberg explains why this generation is a tough -- has a tough road ahead and needs to fight isolationism.

julia: i'm julia chatterley. welcome to bloomberg markets.om bloomberg world headquarters in new york. you're the top stories we are covering around the world and on the bloomberg. stocks advancing to fresh records as dollar weakness sports gains in producers. another sector surging today -- cybersecurity. reaching a 52-week high following a global rent somewhere attack that affected 250,000 computers across 150 countries. said to meet with steve mnuchin in effort to quash the idea of a border adjusted tax. we will talk to a former retail ceo who bucks the trend and supports the proposal. u.s. markets close in to our times. with get a check on the s&p and nasdaq in the u.s.

. >> i'm julia chatterley."bloomberg markets." ♪ scarlet: we are live at bloomberg world headquarters in new york. here are the top stories we are covering from around the world and on the bloomberg. in israel,rump is wrapping up remarks with president netanyahu, but it is his earlier off-the-cuff remarks that are grabbing the world's attention. let's move on to oil that is trading at its highest price in a month, as saudi arabia says producers are on the same page. we will have part of our exclusive interview with the country's foreign minister. ford is shifting gears and putting its head of smart mobility in the drivers seat. is the former furniture executive the right person to turn ford around? let's get to your markets, u.s. stocks in the green for the third straight day.

julia: live from bloomberg headquarters in new york, i am julia chatterley. scarlet: i am scarlet fu. julia: u.s. stocks closing higher after a volatile week. question is,the what you miss? a washington post report says a possible -- an investigation into possible ties between the and russiaistration has identified a person of interest currently in the administration. plus, volatility in the markets. we explore that in the week in review. and political drama is not contained to the u.s. brazil's president is under the spotlight. we examine anxiety around the globe. isia: abigail doolittle standing by. abigail: we are looking at nice gains for the major averages heading into the close. s&p 500 and nasdaq solidly higher. the dow and s&p 500 are on pace -- their best games for gains for the month of may. let's dig into the s&p 500 on the week because all of the averages are down on the week. the dow and s&p 500 for the second week in a row. first time that has happened since the beginning of april. we see that most of the sectors .re lower on the week at the bott

i am julia chatterley. scarlet: i am scarlet fu. joe: i'm joe weisenthal.e tuning in live twitter, we want to welcome you to our closing bell coverage every weekday from 4:00 eastern. we begin with market minutes. major indexes, a little bit of a snoozer in terms of the actual levels of the s&p, doubt, and nasdaq. record high for the nasdaq nonetheless. -- 6102.66 for the nasdaq. joe: unlike the first round which produced a massive movement is found not so much. scarlet: i'm looking at the imap on my bloomberg. the worst performers were materials, down by .9%. read all around. gainers,ok at the energy and tech some of the advances. energy getting .7%. some of the drillers and equipment names showing weakness. in terms of the actual individual movers, let's get to some m&a announcements. julia mentioned this earlier. coach at the highest level since 2014, buying kate spade for $2.4 billion. not unusual that you see the buyer gain, but as a bloomberg gadfly columnist was telling us, this is them putting their money where its mouth is. sinclair broadcast buyin

. ♪ julia: live in new york, i am julia chatterley. scarlet: i have scarlet fu. e: i am joe weisenthal. we are 30 minutes from the close of trading. julia: oil easing from all-time highs. joe: what did you miss? scarlet: working to contain a report that donald trump shared intelligence with russian officials. in washington, meeting with the .urkish president can they see eye to eye on strategy in the middle east? retail, home with depot doing well. we look at numbers in the numbers don't lie. let's look at were the major averages stand at the close. abigail doolittle is standing by. >> as has been the case in recent trading sessions, we don't have a lot happening into the close. the dow and the s&p 500 are down. .- down the nasdaq was higher for another record close. this may stand out considering the increasingly legal nature in d.c.. investors do not seem to care. and this man thinks it is because investors are focused on the earnings season, just that much stronger, and confidence. will be interesting to see if it shifts. one sector on move, the health-care sto

julia: liverobloomberg world headquarters in new york, i'm julia chatterley. scarlet: i'm scarlet fu. joe cole and we are 30 minutes from the close of trading in the u.s.. julia: the dollar fell and crude slipped back before -- under $48 a barrel. joe: the question is, what'd you miss? a herculeancalls it a compliment. and the latest reading on u.s. inflation. chicago fed president charles evidence sees it as the possible data point that could slow down fed rate hikes. retail department stores are in focus as we wrap up the week in equities. let's take a look at the .ajor averages abigail doolittle is standing by. abigail: another close where we don't have all that much action happening for the major averages. the dow, s&p 500, and nasdaq down in very small ways. for the week, they are on pace for their first weekly decline in four weeks. the nasdaq is on pace for a fourth week higher. let's take a look at boeing. breaking news in the week on wednesday. the company suspending some of the 737 max flights due to engine troue. one analyst said it would be a tempor

. ♪ julia: live from bloomberg world headquarters in new york, i am julia chatterley. arlet: i'm scarlet fu. joe: and i'm joe weisenthal. we are 30 minutes from the close of trading in the u.s. julia: u.s. stocks near all-time highs. joe: the question is, what'd you miss? scarlet: an abrupt termination --president trump fires fbi director james comey in a move that raises questions about interference by sitting presidents into political investigations. markets barely budge on the political events. we will hear from sam zell about why wall street just doesn't care. snap reports strong sales on its mobile app platform. can it maintain its young user engagement to compete with facebook? joe: now let's look at where the major averages stand as we head to the close. abigail doolittle is standing by. abigail: once again we are looking at a quiet action for the major averages heading into the close. dow down .25%. the s&p 500 and nasdaq up slightly. than two00 is less points away from a new record close. the nasdaq is already there. -- in fact for the s&p 500, if it closes at

. ♪ julia: live from bloomberg's world headquarters in new york, i am julia chatterley. arlet: i'm scarlet fu. joe: i'm joe weisenthal. we have 30 minutes from the close of trading in the u.s. julia: stocks rising for a 30 day compression 201-month high. joe: the question is, what you miss? scarlet: president donald trump meets with israeli prime minister benjamin netanyahu pursuing an agreement after a weekend of billion-dollar deals in riyadh. while president trump travels abroad, here at home, the white house preparing a formal budget request tomorrow. we analyzed spending cuts. and ford chairman bill ford replaces mark fields with jim hackett. we discussed were the automaker goes from here. joe: let's look at where the major averages stand as we head towards the close. abigail doolittle is standing by. looking at solid gains for the major averages heading to the close. the outcome s&p 500, and nasdaq all nicely higher. look at the nasdaq, really being helped by strength in cap. -- techy. all three indices are higher for the third day in a row. we are in a bit of a bul

i am julia chatterley.items -- to: we want to welcome you the closing bell coverage every weekday from 4:00 to 5:00 p.m. eastern scarlet: let's begin with market minutes. the sixth consecutive day for gains of the s&p 500, gaining 0.4%, rounding off the longest winning streak. the nasdaq and all closing at five. showing jobs, the labor market is very robust. jobless claims for the most part coming in where economists had anticipated, but smoothing it out, the story is not very many looking for unemployment benefits. and the vix is going -- scarlet: here is the s&p 500. it is an 24 groups to give you more detail. a lot of green on the screen. the best reporters for transportation and retailers and insurers. transportation, railroad companies and airlines. retailers is notable because surprising results from specialty retailers we will get on to later on. insurance companies as well. on the downside, sectors that declined, energy off 1.8% as a group, this after opec extended production cuts as extended -- --

. ♪ julia: i am julia chatterley.usiness flash," the biggest business stories in the news right now that the dow chemical ceo will delay his retirement to oversee the historic merger with dupont. he will stay on board until july 1, 2018, and serve as chairman of the new company. the merger combines the u.s.'s . largest chemical makers the deal is expected to close in august. wells fargo is doubling cost-cutting from $2 billion to $4 billion. the deadline is extended from the end of this year to the end of 2019. the ceo has pledged to rebuild shareholder and customer trust. an investigation costs the firm $445 million in fines. will offerindows 10 a friend earlier upgrade than before. the new software will allow you to sync different devices including iphones and androids. microsoft says it understands many mobile gadgets do not run windows. customers can access the future through microsoft account. that is your "business flash" update. joe: what'd you miss? moody's investors service downgraded canada's banks for the f

. ♪ i am julia chatterley. scarlet: in ims scarlet fu. i am scarlet fu. bloomberg markets. julia: we are live in bloomberg world headquarters in new york. right to the top stories on the bloomberg and around the world. in markets, one hour left in the trading day, and stocks are falling to the most in three weeks. spiking asis disappointing earnings raise doubts. on wall street, prosecutors are investigating markets it we will have a closer look at white hedge funds are suspected of inflating bond valuations through fees. and an exclusive interview with barclays ceo just staley. what he -- just staley. staley. let's check in on markets. it is red. earlier inas red as the day. down because of disappointing earnings from retailers, but we have bounced back to some extent. the fix is higher today. it is still suppressed by historical levels. there is concern about what that low volatility means. we are seeing high volatility when it comes to retailers. macy's down 16%, the worst single day for macy's going back to 2008. it is trading at its lowest since augu

julia: live from world headquarters in new york, i am julia chatterley. scarlet: i'm scarlet fu. joe: i'm joe weisenthal. we are 30 mins away from the close of trading the u.s.. u.s. -- the s&p 500 approaching fresh records. dataet: should record low be explained for volatility? where to go in the french election now that the minimum account has inherited a slow-going economy, what will the new leader need to do to deliver on promises? himachal quarter for walt disney -- they report fiscal second-quarter earnings after the bell. we will bring in those numbers when they cross. joe: now let's take a look at what the major -- where the major averages stand. abigail doolittle is standing by. saying veryare not big moves for the major averages heading into the close. the dow the s&p 500 fractionally lower, and the nasdaq higher by more than one quarter of 1%. small moves, but nonetheless we are saying records. we saw a record earlier for the s&p 500, and if the s&p 500 can turn fractionally higher, it will once again put -- turn in a record close. some mixed, basically unchanged tradi

julia: live from bloomberg's world headquarters in your, i'm julia chatterley. the we are 30 minutes from close of trading here in the u.s.. julia: u.s. stocks rebounding from the worst daily say law of the year. scarlet: newfound credibility for the russian inquiry. significant new phase in the investigation that has already roiled the white house. in about 50 minutes, president trump answer questions at a joint news conference with the colombian president following a chaotic week and one day before he takes off for his first international trip. at the same time, different political crisis unfolding in brazil, where markets are getting rocked reports that the president was involved in alleged cover-up scheme. let's head back to the conference in las vegas where erik schatzker is standing by with a feigned short seller. julia, thank you very much. i love seeing jim at the conference because you always come with a new idea. you just presented it to the crowd and i would like to get into a little more detail. a short clear, is this thesis on both stocks? reason wea

. ♪ julia: live from the world headquarters, i am julia chatterley. scarlet: i am scarlet fu. e: we are 30 minutes from the end of trading. julia: the u.s. stocks slightly lower today as the banks are sliding. joe: the question is what you miss? scarlet: president trump could make good on his pledge to leave the paris accord. of course, what this would do for other nations and their commitment. some parts in america say that it could be time to abandon the slow growth toolkit. -- rate rick scott cuts, as the president tempers the cloud. ♪ let's look at whether major averages stand as we head towards the markets close. abigail doolittle is standing by. >> we will see major declines here at the close of the doubt, all down fractionally. that perhaps we could see these averages or at least one of them could turn positive before the end of the day. we have seen that happen before. we did not do that yesterday. we do now have these lower averages. happened time that has for the s&p 500 in two weeks. and for the nasdaq since april. not a surprise me look at this mapping out. we do ha

julia: live from bloomberg's world" is in new york, i'm julia chatterley. scarlet: i am scarlet fu. joe: and i am joe weisenthal. we are 30 minutes away from the close of trading in the u.s.. julia: investors returned from a three-day weekend. the s&p 500 snapping a seven-day winning streak. joe: the question is, "what'd you miss?" scarlet: energy shares leading the selloff -- not really selloff --retreat. how about that? tech shares leading them the upside with amazon hitting $1000. cash president -- president trump ratcheting up a dispute with angela merkel that threatens to undermine relations. elections with a u.k., italy, and germany will. -- presidentazil michel temer says they will get to 2018 with a house in order. speaking at an event, he also said the government cannot and should not abandon its agenda and there is no plan b for fiscal reform. we will speak with alberto ramos of goldman sachs. now let's take a look at where the major averages and as we head toward the close. bloomberg's abigail doolittle is standing by. abigail doolittle: it is shaping up to be a relatively

i'm julia chatterley. scarlet: i am scarlet fu. ome to "bloomberg markets." ♪ julia: live and bloomberg will headquarters in new york over the next hour and cover stories london, and, washington. let's get to the top stories on bloomberg and from around the world. as promised, president trump is set to speak at the white house rose garden this hour after house republicans got just enough votes to pass the health care bill. we will bring you his remarks live. later this hour we will get fresh reaction from the ceo of the permanente medical group, responsible for the health care of 10 million americans. and in markets, crude prices feeling the pain today. we will explain how it is dragging down stocks as energy producers dropped the most in months. we are one hour from the close of trading. let's check on the markets with julie hyman. overall, we are not seeing a lot of change today, and that is the case for much of the day. we have a bit of a push and pull going on. we have health-care stocks rising along with financials, which have

julie: julie chatterley and i -- julia: we apologize for the brief interaction there.le shares have been on quite a run. but will they continue post the earnings report? after the close, we've got the numbers you need to know, next. this is bloomberg. ♪ julie: i am julie hyman. >> welcome to bloomberg markets. ♪ >> we're alive at bloomberg had -- world headquarters in new york in the next hour. plus, washington and london. the headlines around the world. dayhour left in the trading . not much changed. technology shares ahead of apple's earnings. the yen falls to a six-week low, below $48 per barrel. pressure on apple to deliver when it reports on earnings after the bell. the shares are up 25% this year, up an all-time high. plus, do not miss erik schatzker's con -- conversation. one hour from the close of trading. a focus on earnings, individual earners. unchanged allges day long. nasdaq, evernd the so slightly lower. decision.e fed beneath that, a lot of big -- big movers. shares on stage further -- on pace for their best day, also to close at a record high after the

. ♪ julia: live from bloomberg's world headquarters, i am julie chatterley.carlet: i'm scarlet fu. joe: i am joe weisenthal. the question is "what did you miss?" companies hit by global cyber attacks. is this an opportunity to buy's security stocks. new french president and angela merkel are pledging to work together in the face of a troubled eurozone. onomberg is drilling down what tax reform will look like and how it will impact business. clerics now let's look for the major averages. ins, the dow and nasdaq higher. .his means more records the s&p 500 is narrowly close to a new record close. the nasdaq seems to have it. they can maintain that potential new record close. gains, explaining some energy, the best sector for the s&p 500, up 2%. oil is up four days in a row. saudi arabia and russia favor extending oil cuts into the first quarter of next year. everybody is looking to see how it will come out at the opec meeting, but this could be an early tell of timing that could go right into next year. , andof the big oil names all of this matters for the trump