trading day so let's head over to julie hyman. what is moving and what's not? julie: a busy day for earnings, that is true. there is a lot to sift through. you are seeing a more negative tone now but stocks have been bouncing around throughout the session. each stock is down about a quarter percent. earnings.just about we have energy stocks gaining as oil falls, curiously enough. you can look and see energy and materials are the two best performing materials. consumer staples are on the downside today. that is shaking up. verizon is what is pulling down the telecom shares. wireless subscriber growth beat estimates but because of negotiations with labor unions, that is going to weigh on second-quarter earnings. apple, which has delayed the earnings report by one-day is coming out with a shares falling about 1.25% today. a lot of divergent views on apple. and coca-cola is down for the second day after its report, even as analysts report weather yesterday's drop was justified. tracy: let's give you a break from the earnings. tell us what else is moving? julie: oil,

let's head to the markets desk were julie hyman has the latest. julie: on days like this when you have so many earnings reports, 10% reports today alone , it is not unusual to see a lack of big moves on major averages because a lot of the movement is driven by individual stocks. that appears to be the case today. we are in a at the" he thought we are getting earnings after the close. higher.tocks trading on the downside, health care and consumer staples putting a bit of pressure on the major averages. as we get further into this earnings season, let's take another look at ea. quarters,the past forward quarters. . drop of .9% in sales in earnings, and decline at 7.8%. we still have a long ways to go. anderms of the highlights low lights within today's session, whirlpool coming out with sales misting -- missing estimates. sales in the shortfall -- procter & gamble with numbers that initially looked strong. --rd-quarter revenue fell by it appears to be a sales issue weighing on the shares. up 9.7% after raising its production forecast. the earnings wi

it's good to the markets desk julie hyman has the latest. julie: an unlikely rally. when we heard about the no hot talks collapse, the expectation was oil woodhead sharply lower and stocks would fall along with it, yet that is not what has happened. have&p and the dow each .5% -- not a runaway rally but if you look at the s&p 500, you will see what i'm talking about here. a gradual increase throughout the morning and what is interesting is as we have seen ad itslly, the dow highest and nine months, we have seen people dumping their short nuts on the s&p 500. but you have here is the measure of short positions on the s&p 500. we've seen a decrease in those positions at the fastest pace in four years, sort of a far and of this chart. beenosition has substantial as people have been squeezed out as stocks go higher. mentioned stocks year with oil wiping out some of its losses. julie: you can see it was lower but climbing back substantially, down almost 2%. flirt with the positive before closing down by a little bit and we continue to watch the correlation between oil and

julie hyman has the latest. julie: a lot of big events are happening this week like the fed and the bank of japan. we will hear from all of those folks. today, it is more micro driven. .e are seeing a drop in volume as we were reminded earlier, spring break for a lot of folks we see some people participating in the trading day. averages are up off the lows of the session. now only one third of 1%. at some of the earnings highlights and lowlifes as the case might be. estimates,elow because of data. since they declined reported results that beat estimates. still seeing struggling legacy business continue to lay on the numbers and taking the charges as a result. rising today after earnings estimates. always a little bit good and a little bit back. potential deals are not happening to talk about today. bid for the unsolicited the company to create a larger newspaper company. $815 million unsolicited it, 1225 per share in cash. you do not see the l.a. times and the tribune -- then there is the long-standing >>. hallib

we need to head over to the markets desk, were julie hyman has been tracking the latest. the dollar is gaining but stocks are slipping. alix: hi, scarlett. welcome back. scarlet: the band is all back together. julie: we had stock slipped today, we had a run, now we are seeing a pause. that dollar, we talk about the , butlation between oil this year, the correlation of inverse correlation is really with the u.s. dollar. we don't spend as much time talking about that. but that has happened this year as well. that said, we are seeing stocks pull back today in terms of the biggest drags on the s&p 500. in particular, facebook is falling today. intricately, deutsche bank says you should buy the stock on weakness. deutsche bank is also saying that near term, there's an unfavorable set up in the stock knowing into earnings. it seems as though the focus is more on that part of the commentary. general electric is falling as well, pristine downgrading that stock valuation and underappreciated risk for the company, including a longer downturn in the oil and gas sector. cisco and jpmo

scarlet: let's go to the markets desk with julie hyman. e dollar ripple affect is benefiting a lot of commodities today, metals included. we talked earlier about the boost it's getting to energy prices so we are watching gold and silver in particular which particularlytoday, silver, up more than 4% so that's a substantial gain. that it in silver means may enter a bull market. you go back to the lows where silver was on december 14 of last year and you look through today and we have a 24% again. the gains of today would have to remain intact for it to enter this bull market but it looks like it's a safe that that that is going to happen. gold, itmpare it to entered the market in came out of it again. lows, it hascember rallied 20%. it has gone kind of sideways over the past month or so. some of the more bullish forecasters on both happen to be the most accurate forecasters. from capital economics who were the best gold forecasters in the first quarter and cantor fitzgerald think the gold rally might have more room to go. you have the relativ

julie hyman.t iron ore once again because it is trading at a 10 month high. ton ore used most notably make steel and it is up 49% rate unexpectedly rally to many analysts and traders. it has been driven by a number of different factors but bhp and rio tinto, the largest business, cut the output forecast for this is one of the things that has been spurring the gain in the iron ore prices. something else spurring the game has been chinese demand for iron ore because of steel production. we have got quite a number of charts now. this is a version, i don't know if you saw earlier, of the charts that were created this morning. china has been producing more steel. here you have this rebound we have seen in the prices. note, on theelated thisse steel output, demand for iron ore to make steel in china. indeed, they are also getting a boost. scarlet: the earnings results should be interesting. julie hyman. tracy: turning to the world of under for shoulder just d shelled out- for just under $200,000 to buy

lettuce head over to julie hyman. tracy mentioned apple. it is spring break, so it's wait-and-see for the market. julie: when we are talking about apple overshadowing everything else, it is passover, so i thought of how is this day different from any other day earnings season? it is also seasonally and apple appropriate. let us look at the major averages that are hovering near the lows of the session. as investors await all the various events that scarlet was talking about, as it is bring break, we do see a drop in volume and this pause at the very least from the rally that we had last week that took other major averages as well and other individual groups to multi-month highs. if you look the s&p 500, it's sort of made a little bit of an attempt at a bounce an hour ago and did not quite go anywhere. it is still down one half of 1%. take a look at the bloomberg for volume in the various groups of the s&p 500. overall volume is down 10% to 11%. telecom is seeing a particular slot, financials as well. consumer staples also seeing a decline in

let's head to the market desk with julie hyman for the latest on the rebound in the market. julie coke all three major averages are in the green. i guess good news is not bad news anymore. it changes on a dime as we know. we are seeing all three major averages now up. it looks like the oil effect has been shaken off to some extent. look at the dow in particular. at the lowest it was down as by 47. 117, now it is up what are some of the main gains we're seeing in the dow? take a look. time to buy the stock at of the closing of its acquisition of visa. it could happen as early as today. though shares higher. home depot mentioned positively saying it is less likely that and come with outsource its pharmacy benefits management to the united health unit. mcdonald's is rising him a price jpmorgante over estimates. franchise structure in asia, structurally important and could improve free cash flow. mcdonald's shares are trading at a record, up more than 7% buspar this year. the onlyocks are not one says saw a price swings. julie: the 10 year is another example where, look at this,

julie hyman has the latest. se today after the major averages reaching their high for the year. .3% pulled back by about today. three orders coming in below estimates.

julie hyman has the latest. julie? julie: we get closer to the close on this friday. investors are still weighing a lot of it news and the dow has turned higher at this point despite eight -- despite a tough as caterpillar, general electric, microsoft. the nasdaq is taking the biggest tumble of the three major averages. it looks like energy is the best major group at this point. because of financials as well, this is pulling stocks back up. you look at what is going on with energy, oil prices are up by nearly 2%. southwestern energy, one of the energynergies -- companies to report its stock, has gone up. within the financials, we have also had earning it news, and that includes suntrust and eat tree financial as well, 3.5% -- e-tree financial at 3.5%. david: all right, some gains, but what about the tech stock? have: tech stocks do not an insurmountable problem, but still, it is a pretty tough slog. microsoft, as i mentioned, projections,sts' and visa, you don't think of it as text, it is coming out with earnings, but also saying its earnings have been delayed so that

julie hyman has a check on company movers right now. lie: we have a number of auto related movers by general motors chief among them. the first quarter profit of $2 billion beat analyst estimates by a wide margin. the net income doubling from a year earlier. sales down 2.5%, revenue rose by 4%. is because of the mix of its sales. this is a chart from kevin of the company's light truck volume versus car volume. trucks have a double benefit, higher margins than the cars and they tend to sell at a higher price. also, looking at other car related movers. the owner of 138 dealerships in 15 states around the u.s. at cutting its new vehicle sales forecast for the year. on the flipside, johnson controls coming out with a forecast that is above what analysts had been anticipating. elsewhere within autos, we watched those volkswagen shares getting a boost after the news that the company had come to a settlement with the u.s. government agreeing to settle $10 million of civil claims related to its emissions rigging scandal. mitsubishi motors had it

we need to check in with julie hyman. stocks, aike the u.s. resumption of this weeks declines. julie: definitely. all three major averages down with the nasdaq leading, now down by mother 1%. it all has to do with concern over global growth. and to rotation of the fed minutes. the upside is that maybe -- with dovish representation of the fed minutes. the averages are now may be giving up their gains or getting closer to it. the yen has really been the big market story of the day. it continues to push higher to its level since october 2014 versus the u.s. dollar. 1.0 -- 108. we have to look at options trading on the end. we have the highest level of in optionsf volume that we have seen since february. this is something that definitely has picked up. we have also seen a lot of folks who has been saying that the yen rally will not last. they have been giving up on that view as they have been forced into it. alix: this is the third day the s&p has swung 1%. we've haven't -- we haven't seen that since february. and gold is a beneficiary of that. julie: indeed. we have seen gold do we

let's head to the markets desk where julie hyman has been tracking the moves. when it comes to equities, we are moving to section -- two session highs. julie: moving north but not much north. not much change in the overall averages. it is indeed a better than it was earlier. it is an individual stock story today. i wanted to look at some of the biggest pushes and pulls that we are seeing. first of all, the stocks that are helping the s&p 500. jpmorgan rising for the second day, bank of america rising despite the fact that earnings missed estimates as the company cut more expenses. is sounds like the ceo willing to cut more costs in order to preserve profits. that appears to be what is driving shares higher. exxon mobil is doing well and citigroup is out tomorrow and is also higher. on the downside today, we do have ca coming out with preliminary earnings. by 19%hares are plunging and it looks like we have a typo on the last one but intel is declining. they said they are not optimistic about the earnings there and i take it we have breaking news? alix: yes, for m

let's head to the markets desk with julie hyman, including one mover. iant is back in the news today as they get a new ceo. .e will be the chairman he has a big job to do at valiant, who has plunged and has a lot of different issues. valiant shares are bouncing. errigo shares are plunging. they cut it earnings forecast for 2016. 42% over thewn past year. they were also downgraded for outperforming. said they have set unstick stations -- unrealistic expectations. big deal to talk about in the publishing industry. an $815 -- $815 million bid. it is 63% higher than tribune's closing numbers. you can see those shares are surging by 16%. we have seen a lot of consolidation because it has been a suffering industry. --nett mention of the top and bottom of earnings performers in the s&p 500. the rocks coming out with earnings it missed estimates. more.re has been up much xerox plunging by 12%. betty: thank you. julie hyman with those numbers. still ahead, politics make strange bedfellows. ted cruz in john kasich teaming up to stop the donald. is it too late, tho

we need to get a snapshot of today's action with julie hyman. julie: we haven't had big pullbacks recently. there has not been that much movement either way in u.s. averages. the fact that we are seeing a pullback that is good -- getting there are these concerns about growth. the strategist over at goldman sachs says today that the recovery we have seen in the united states in the stock market is likely to falter before gets a second wind. -- there arere was two big issues. a slowdown in the buyback activity. he thinks the other reason is going to be the drop in profits for the s&p 500. take a look at the bloomberg. we are seeing the s&p 500 -- strategists are still pessimistic. the median forecast is 2150. and i'm going to send it back to you. belowthe dollar falling ¥110 for the first time since october of 2014. that means the yen is at its strongest level in a year and a half. it just illustrates the risk off trade we have been seeing. negative interest rate policy -- continues to give jim at -- japan's a pop economy -- economy a boost -- alix

let's head to the markets desk where julie hyman has a look at the latest. julie: stocks took a leg down midday and the net leg right back up. we've made a round-trip here. w remain higher by .2%. technology is lagging today. we've got information-technology down about .6%, paring its earlier decline, but still the biggest drag on the s&p 500 as it is the heaviest weighted group. consumer discretionary also lagging. energy shares up 1.7 percent and financials being led higher after those goldman sachs earnings. alumina is a health care stock, but the company does make genetic sequencing machines, down 24% after preliminary earnings that missed estimates. netflix down after its forecast for international subscriber missed estimates. we have amazon and google also lagging today, perhaps because of their exposure to video as well. announce that standalone video service and google the owner of youtube. facebook with a price target related to facebook messenger, those shares up by 1.4% today. overall, the clients and technology today. lisa: talk about up and down

the meantime, julie hyman has been checking out some social media companies. acebook. falling today. publishers are seeing a drop in .acebook traffic traffic across their clients declined about 20% from january to march. data showing the biggest drops came from publishers that have been invested in instant articles. on the flipside, wells fargo is saying the instagram opportunity , ad revenue opportunity, is larger than previously thought. that does not seem to be mitigating the decline. twitter has not been having a good week, the stock is down again. news, although that is not what it is bringing it down. yesterday, recall, morgan stanley cut forecast for the companies stock price on projected loan growth in everything from revenue to new users. , happeningn today midmorning, happening for a second straight day. linked being downgraded over at m km earners. $150. share from 's then the at mkm decline in first quarter online job postings in the u.s. was a negative forward indicator for their numbers. canada is crushing it when it comes to the job market, imple

it's time to check in on the markets with julie hyman. earnings from barrick gold and freeport-mcmoran later on today. tracy: cost-cutting is a big theme for any commodity producer whether you are talking about gold or oil, even though we saw a recovery in the first quarter, they are still cutting costs. cost topany cutting inc. -- to improve its cost of production for gold and it got a boost as gold prices rose in the first quarter. elsewhere, hearing about some of got anarious minors, we upgrade from newmont mining due to valuation. you can see those shares getting a boost from that upgrade. freeport-mcmoran coming out and reporting its earnings. have to dig into what is going on here. some of its -- shortfall was due to its energy business. the company had been trying to sell its oil and gas unit as an entire unit. they try to sell it off in pieces but in the meantime, it is looking at job cuts and restructuring those operations. any of those were offset by the week this in the energy group. the companies net loss coming in above what

it's good to the markets desk julie hyman has the latest. julie: an unlikely rally.hot talks

julie hyman has the latest in a day that has been

let's head over to the market desk and check in with julie hyman. julie: it is gaining steam as we go through the day, session highs in the past few moments, and at one point, we were seeing the dow and been closer to 1% than they are right now, so very close. that weisk on scenario are seeing come back into the market, so what happened with oil, as we have been talking about throughout the day, earlier a report that russia and saudi arabia had come to an agreement on some kind of protection freeze, but there was not really confirmation for more information until the roman came out and said there was a path forward to some kind of an -- until in delhomme the russians came out and said that was a passport of some kind of an agreement in doha, and oil is trading above its 200-day moving average. this is a look at the intraday move, and there is the moving average, now bouncing up above it for the first time in quite a long time, as against the. we, technicians are saying are continuing to see and oil rally. is that a sign that the autumn has been put i

scarlet: julie hyman has the latest. it is the first game this week. seeing a big ounce back after a two-day decline the largest in two months. rising to about the highs of the session with the nasdaq leading. has been lagging throughout the session for one thing we have been watching highlighted in a bloomberg news story today has to do with short interests and stocks overall. we have seen them climb and climb. that in the recent rally, the recent move has been fueled in some part by a short covering. take a look here. s&p 500 and the games we have seen -- games we have seen in the past several years. it coincides with an uptick in short interest, about at its highest going back each year. it has come back down slightly here as we have seen the gain in stock. nteresting phenomenon we will continue to keep an eye on. thee watching the groups in s&p 500 health care continues to help lead gains, neck and the, getting a boost with oil prices paired with health care, it has canceled deal now from pfizer and allergan. those stocks are trading higher. likely

we want to head to the markets desk or julie hyman has the latest on this steep fall we are seeing inhe markets. i want: i want -- julie: to mention exxon mobil. the stocks is being downgraded. it is being cut to aa plus from aaa. that is my standard -- the outlook is stable in terms of the rating outlook. we will take a look at the rationale behind this in a few moments. obviously, this would perhaps continue to weigh on the markets as betty said. stocks have taken a leg downward. i'm looking at exxon mobil on the bloomberg here if you want to pull it out. it is bouncing around. the stocks took a leg down. .t hasn't changed we will see how this shakes out early next few minutes as people try to figure out what to make of this. exxon mobil, by the way, has yet to report its earnings. we have a lot of energy stocks yet to come out with their numbers, as well. if you look at the overall markets, we have seen stocks take a leg downward. they have been trading higher across the board. exxon now with his earnings on april 29. the s&p, very little change. all of them now in the red. earning

we had to the market desk where julie hyman has the latest. we are four hours closer to the start of the earnings season. julie: as people get close, maybe they get my -- more nervous. alix: is the kickoff really official anymore? scarlett: i don't know. wednesday is official because j.p. morgan is reporting. julie: whether you are talking about alcoa or the banks, there is not a lot of optimism when it turns to earning broadly with energy or financials. we have seen a pairing of gains today as we have gotten deeply into the session. the s&p 500, if you look at the intraday move we have seen, it has been moving from steadily lower, a leg up in the past few , downs, but none the less sharply from the highs of the session. let's take a look at the s&p 500 profit estimates and the change we have seen in estimates. this is the change that we get quarterly. we are talking about a 10 percentage point swing in these estimates overall. the estimate is for earnings to fall 10% in the quarter that we are about to learn about. definitely a lot of pessimis

julie hyman is with us. a trade weighted is somethingknow one is a look at because it is something to look at the slice and dice. you want to walk us through it? currenciesagainst like the korean and many asian currencies that they trade heavily with. not as much strengthening versus the u.s. dollar, which has to do with central banks dynamics. thing tor interesting look at because you look at how much the trade weighted yen has declined over the last three years. it is hurting companies in japan. julie: right. another corner of the market i wanted to look at that is affected by this yen trait is options purposes. this is options purposes on etf that tracks the currency 84% above average on wednesday. it is the highest since mid-february. definitely seeing a lot of volume increase there. hisracy share etf having particular highest volumes this year. vonnie: when it comes to currencies, it is always more sophisticated investors so it is interesting to watch. we have been looking at sterling over the last few

desk head to the markets where julie hyman has the latest on how markets are trying to climb up today. lots of earnings. julie: it would be a surprise if we got any gain at all. we are seeing some gains in the dow and s&p in particular. the nasdaq is being dragged down by some of those numbers. i want to hit some of those big stories. it seems like the focus is not macro, it is on these individual companies. let's get to some of them in .echnology third-quarter earnings sell short because of a higher tax rate. kind of mirroring the situation with ibm, both of these are legacy tech giants that are trying to push forward to the corrupt -- to the cloud, to other businesses? way still do things the old , in the case of microsoft buying software packages rather than subscribing or doing it through the cloud. on the flipside it is moving into the new age. that is hurting it. that is more expensive for alphabet or google. when people are surfing on their mobile phone. there is a shining star with him technology. it is advanced micro devices. even more importantly it is licensing its technolo

you, julie hyman., america's managing director mike mayo on the state of affairs in the banking industry. fedthoughts about the rate hike. ♪ jonathan: pfizer terminates -- 160 billion dollars merger following obama's crackdown. controversial rules announced today facing intense opposition from the financial industry. greece beat to the u.s. labor secretary first on bloomberg. speak to the u.s. labor secretary first on bloomberg. the jump in crude prices have not stopped the cost of low equity. york,8:00 a.m. in new 1:00 p.m. in london and in the clock p.m. in hong kong. i am jonathan ferro along stephanie ruhle and david weston. research, director of billion andover $11 a leader of the house team leader. stephanie: he is working overtime. david: a lot to cover, but we want to start with the market. jonathan: futures positive across the board. doubt features of 36 points. the dax is up by five points this morning. the ftse up .8 of 1% as we had into the close over there. switch on the board, wti climbin

julie hyman hyman has been tracking the moves. it is a positive day for the stocks. julie: i want to look at facebook. the shares dropped suddenly just in the past 15 minutes. they are bouncing up off the bottom of little bit. there is some talk, i saw some tweets about ad spending and figure out exactly what might have been said to cause the decline in the shares. the reversal, really -- they are down 1.6 percent. we will keep digging and bring you an update when we have news from that conference. for a look at the broader markets, we are seeing a rally across the board. we see a gain of 1.2% in the nasdaq. if you look at the dow, the dow is also up .8%. we have been seeing a range earlier in the day and a leg up around 11:30. jpmorgan is a big part of what is going on in the dow today. the earnings falling year-over-year and trading sales falling euro per year that all of the declines were smaller than analysts had been estimating. jpmorgan has actually been building on its gains throughout the day. this may shares are rallying. jpmorgan is raising the analyst estim

let's go over to the markets desk with julie hyman. japan. ory was julie: there is a lot going on today at the macro and micro level. it is equaling a negative stock market. we started off with early gains and they melted away led by the declines in technology and nasdaq listed stocks because we had big earnings disappointments. the dow and the s&p are also turning lower. 500 was swinging from a gain at the open to a loss. we are bouncing around near the lows of the day. looking at the groups on the move, energy is up most today. financials are gaining some steam but on the downside, technology is inescapable. thanindexes down by more 2%. when it's down that much, it has a big effect overall. individually, we are watching microsoft which cannot with earnings that missed estimates because of a change in its tax rate and forecasting numbers below it analysts anticipated. it is held back by its legacy business. alphabet also known as google came in below estimates and that's because of increased for the use of mobile phones. facebook is down alon

let's head to the markets desk julie hyman is looking at consumer tech, wearable and otherwise. king at go pro first of all because it's having a big gain in today's session, seeing shares surge by 17%, the biggest gain in more than two months. an industrial designer from apple is jumping to go pro to head up the new hardware design group. it shows perhaps that go pro is willing to take some dramatic steps to turn around the stock which is down 35% this year before today's gains. there are concerns about demand for its upcoming products amidst competition. companyabout 30% of the short.houlder -- sold we are looking at fitbit. the second pod of the -- second positive analyst comment, yesterday was morgan stanley, citi,ime, it is reiterating a buy rating on the stock. shares up 12%. we are looking at paypal and square as well today. the price target for paypal was raised to 44 from 38. suntrust protects that analysts will have to raise their earnings forecast for the full year. square initiated with a hold -- finally,accord let's get a quick check on ofebook as it has day two its

julie hyman has the latest. julie: stocks falling to the lows of the session as the nasdaq pulls down by 1%. global growth worries continue to return to the market. that is manifesting itself in the reaction we are seeing in the japanese yen, going to the highest versus the u.s. dollar actually now below 108 again. going back at least to october. 10 year yields are going lower today and gold is rising. so today there is more of a risk in the market. what is interesting is that lately, we have seen more of a risk on. or have we? recently, we have seen this rebound in the stocks. this is the white line. and this is the world index, the broad index of what we have seen around the globe. it happened at the same time that we did see indicators with caution. gold has also been rallying and treasuries have been rallying and he yields have been going lower. that is because lower church is here. so even as stocks have been going higher, we have seen investors with timid behavior that indicates they have been cautious. and

julie hyman has the highlights. julie: we're following from jamie dimon's letter from earlier in the week. the near-term environment will prove challenging. he said he is generally optimistic about the longer-term. he said the combined ceo chairman structure serve from goldman sachs, he also said he was to continue a dialogue with the fed and sec. he looks like the lead director for goldman's ford is making commentingnts, he is on his optimism about the longer-term. also, he goes through the pay package. goldman sachs is awarding a $7 million bonus over eight years. that is if the firm meets certain targets. $30 million is down from 31 million from last year. ceo amonghighest-paid the u.s. lenders for the fourth straight year, even though, and the income has gone down by 28%. will continue to monitor this letter. i will be back and erik schatzker will be back with any further updates and highlights. note, the annual meeting for the company will be may 20 in jersey city. mark: coming up, have you ever wondered how bro

let's move to julie hyman. julie: let's start with netflix. greenfield is raising stock price from 150 to 136. he said the content is leading to better than expected subscriber growth. he says in 2016, the net streaming subscriber additions should be 20 million and the previous estimate was 18.7 million. they did a team survey that shows that netflix is dominant over other movie rental services and streaming services like amazon or hulu which has vastly bigger market share. they are moving up by 4% today. in media, a preliminary step in california to approve charter communications merger with time warner cable. recommendedve lot that the approved the deal and the vote could come us in this may 12 but it needs to be approved on a federal basis, but this of the the last state to approve it. finally, amazon coming out with a new kindle, the kindle oasis, the eighth generation. 289 dollars, three times as much as the lowest cost kindle on the market. it features a protective case that doubles as a next her battery and provides as much as nine mont

trading day, so let's check in with julie hyman to get a snapshot on how we will

julie hyman has the latest. julie: a pause today after the major averages reaching their high for the year. .3% pulled back by about today. three orders coming in below estimates. tomorrow, the focus will be on the service portion of the on the with the release supply management. all three major averages turning lower today. at the imap. we have the industrials in bottom place today. industrials, material discretionary. counterbalanced to some degree by gains in health care shares. we are also watching treasuries today because we talk a lot about the volatility drop off we have seen within the stock market. it's happening some -- to some degree in the treasury market. 1.78% in the tenure today. we see a convergence of central-bank policy around the globe so the move index that tracks volatility within treasuries, we have seen that fall as well. those two things happening. also wanted point out the movement in the u.s. dollar. the euro is up versus the dollar for the sixth session in a row. you can see the gains i

we go straight to the markets desk julie hyman. earnings.ng out with >> they had earnings far ahead of estimates. all regions ofss the globe, the have record results in north america. that income doubling from earlier. even after vehicle or sales were down, so, it is interesting here what we saw happen. , kevinook at unit sales over a bloomberg intelligence oneself that it was really truck sales driving profitability at general motors because it had a renewed appetite for trucks. they had volume of light truck sales versus the general motors car. and, because trucks are more expensive, it boosted sales numbers, and has higher margins. , that companyhium is coming out with a second order forecast. the maker ofols the auto components is out of the numbers that the estimates. then, there are various emissions scandal's. ew, according to people with direct knowledge of the matter said the company will set aside $10 billion to resolve civil claims by the u.s. government. they are also over the rigging of the diesel. shares are rising. t

julie hyman has room market check. julie: the pattern has remained steady for the last hour.daq trading lower here. by .5%.aq off i want it shut down some of the big corporate mover we have been watching today. to check on some of the big corporate movers we have been watching today. viacom started warming dish network subscribers they could lose channels like comedy central and nickelodeon late on wednesday because of a dispute between the companies because they are seeing increased competition from the likes of netflix and are trying to raise fees. that appears to be what is happening and viacom shares are off by 8%. we have had a lot of earnings news as well worth highlighting. johnson and johnson rising after that company's earnings beat estimates largely on the strength of its pharmaceutical business, now overtaking medical devices in terms of divisions. united also coming out with earnings at beast at -- beat estimates. also on the earnings front today, goldman sachs. goldman sachs, interesting day here. the shares initially were lower out of the gate. earnings beat est

let's head to where julie hyman has the latest on the trade. kind of all over the place. julie: it is the biggest one-day pullback in almost a month we have not had big swings in stocks as of late. thatght not be part of metric because we are down. definitely coming up off the lows of the day. note whereut with a he said it would be difficult after the latest recovery in stock to get a second wind. he thinks there are two main obstacles. one is that the buyback, companies themselves have been a big source of demand in stock. also, corporate profits would be difficult in the coming reporting season. that means stocks will rally. take a look here. this is the median strategist forecast for the s&p 500 here and in yellow. there is a lot of pessimism over u.s. stocks right now. the median forecast, 2150. this deftly a consensus at point that stocks will not be able to maintain gains. he is not alone at being pessimistic on -- specifically. this the change going into the earnings season. we have had about 10 percentage points in the earning estimates for companies in the s&p 50

let's go straight to the markets desk where julie hyman has the latest. possibly a bad earnings season, but you could not tell from how the markets are trading. julie: the sentiment is terrible going into the season with a pullback of about 10% in the s&p on average. all three major averages trading higher. some talk that investors are now looking past this earnings season, seeing it as a bottom for earnings. all three major averages are higher, the dow doing the best of the three. if you look inside the moves today, sector wide, financials are leading some of the gains, even though there is a lot of pessimism around the bank earnings. energy and technology rounding out the top movers. health care is the laggard, but at the moment it is not much changed. the other big story has been a japanese yen, which is not doing much today, after that 17-month high for the currency. we could see a shift there, even as we are seeing a very bullish sentiment in the end. take a look at the bloomberg terminal. this is looking at the dollar yen versus the cfpc long, yen lo

david: julie hyman is ticking on company moving. julie: selling 52 million tores at 446 to raise money pay down debt and those shares are down 72%. they were down more steeply overnight after announcing the share sale but once the pricing great care to losses to some extent. we're seeing an advance in some of the miners today. gold and copper are both tired today. gold as we are seeing a little bit of a risk of scenario and the lower dollar, copper getting a lift from the lower dollars. and some assurance on the chinese friend. agreement.g after an just seems to beginning on that as well. generally we're seeing the materials talks down. a duo of stocks that are falling session,econd straight field air declining after porting earnings and sales that came in below estimates. falling for second day after being downgraded at nomura. all these -- let's take a look at how the stocks have done this year. freeport has done very well but remember last year it did very poorly. falling 75%. newmont also. some of the mining stocks, see industrie

let's go to julie hyman with the latest. julie: let's take a look at the major averages. we are seeing the lift on chinese export data, bank earnings in the u.s. and major averages hanging on around their highs of the session. if you take a look at the volume volumebloomberg, it is by industry and we have a big surge in volume in the financials, energy stocks and materials. industrials not too shabby. an increase has come with the earning season. really after two weeks of lower than usual volatility and volume. let's get to oil and that evolving reaction to the weekly inventory data. wti has now turned positive on those numbers, even after the larger than estimated build in those inventories. there are two reasons why it looks like this. for me talk about weekly inventory numbers, it is not about the inventory but there is a lot of other data. this is one of those points, the four-week average gasoline demand. it was 5.5 of 1%. you have that change compared with -- it rose .5 of 1%. you have that change compared hwit this difference of the highly year basis. is a record,e

julie hyman has a check. down a little bit from a 20 day average in the s&p, down the 4%. it is making new highs for the year, doubt making highs as well -- the dow taking highs as well. tied to what has been happening with oil prices. we had a lack of agreement in doha, and get oil has come off of lows still lower on the day but also near the highs of the session because there is an oil break in kuwait cutting supply. i want to check the movers as we head to the close. there is latebreaking news for theo do with energy equity's crest to buy williams company. and the tax opinion requires for the deal to go through may not be delivered. there may be questions on what is going forward on the headlines. we saw williams, the company to be acquired, falling. energy transfer equity in contrast, those shares are up. it is up by 11% at this point. we are also watching other big movers, and a pharmaceuticals is undervalued according to deutsche bank. endo pharmaceuticals is undervalued according to deutsche bank. some

julie hyman is standing by with how the options market has all the action. e: joining me is kevin kelly, chief investment officer. we have been talking a lot about how voluntary -- volatility remains low even as ernie season has begun. within the bond market is slow going into the fed meeting. no changes expected, and yet, people keep adding on volatility. >> absolutely. when you look at the curve, it is showing 18 by june and at least a fix of 20 by september. think of all the catalysts facing us, two conventions for the party, the fed potentially doing a hike. you touched on it earlier. in september, there may be another rate hike. how will that impact the stronger dollar earnings? we are seeing very range bound. a lot of names have reported and there is not a thought -- a lot of volatility there. opens -- open interest, 7.5 million contract, compared to last year during the first quarter of 2015, the average was 2 million to 4 million. everyone is position themselves for volatility to come back, just now within the next 30 days. the vix's 30 day. >> there

. ♪ let's head straight to the market desk where julie hyman has the latest on a declining market. e: a declining market, we are not seeing moves in today's session. but we are saying the downside. the nasdaq is losing steam at the moment. if you look at the overnight session, using the futures, you can see we came up from the lows where we were overnight. see things could've been even worse. we hit the highs midmorning and started coming down again once the regular session was happening. the focus is on bank earnings once again today. we have wells fargo, bank of america, and my crock -- blackrock. blackrock and wells fargo seeing a decline. there was all this optimism yesterday surrounding to morgan after those numbers came out beating estimates after many analysts had cut estimates going into these reports. i want to point out, the movement we have seen recently in the s&p financials. the have risen for five straight sessions, even though we are seeing a little bit of it line. they rose for four straight sessions and undecided where they will end up on the day today. this gives y

let's head to where julie hyman has the latest. julie: fluctuating in a tight range.aybe the tightest range of the year today. it will be interesting. so far, nothing unexpected has happened. we have seen gains and losses in the major averages as investors are weighing earnings and economic data this morning on inflation. changinghat is really the macro narrative very much. first, i want to take a look at the s&p over the course of the day and the narrow range. happenedlike a lot has . a tight range as we bounced between gains and losses. let's focus on individual movers we are watching where we are preliminary earnings that were below analyst estimates, saying it is seeing a weaker than estimated from china. regulations out from the administration on offshore drilling are those shares are down seven sent. mosaic is down as we got supply andsaying demand and the fertilizer and agricultural industries will remain there for the coming year -- h&r block is declining after new proposal to have a irs developed a three online tax processing system would hurt h&r block. you

scarlet: let's go over to the markets desk and julie hyman. le of movers including one by the oracle of omaha. >> berkshire hathaway has its annual meeting this weekend. julie: we decided to look at their top holdings and how they have done this year. you can see the shares are up nearly 10% year to date although they are falling back a little bit today. you can put berkshire hathaway holdings in two different buckets. the financials are first and how they have done year to date -- wells fargo, bank of america and u.s. bancorp. wells fargo and bank of america are down as most of the financials have seen declines. u.s. bancorp is an accession but the financials remain the worst-performing group in the s&p 500. that investment has not worked at your today. how about consumables? and heinz and coca-cola are up. some of the other large cap american ibm, p&g, express, that's a mixed bag and philips is out with earnings today. you can see the shares are down 6%. by that measure, not a great way, however, this is the only one of the refining stocks th

david: julie hyman at the markets desk. coming up, my conversation with jeff koons. think's about the business side of art and his relationships with the people who collect his work. about the thinks business side of art and his relationships with the people who collect his work. ♪ david: this is "bloomberg markets." let's turn now to one of our bloomberg pursuits stories today. turns out you do not have to be a billionaire to own a jeff koons balloon dog sculpture. the american artist has teamed up with a french porcelain maker to produce plates that are 1/10 the size of the original stainless steel statute. each dish will sell for $8,000. i sat down with jeff koons to talk about the project and more broadly the business of art today. jeff: to work with somebody where you have a reliable quality product and we are able to achieve this quality each time and i don't have to worry about variation of quality, this is really important to me. david: how interested are you in the business of art? is it secondary or something you enjoy thinking about and being a part of? je

julie hyman is standing by at the markets desk with one of these numbers. we are seeing a built in the inventory, as expected, although it is smaller than had been estimated by oil analysts. we are looking at a build of 2.80 million barrels week over week. 2.9 million barrels is what analysts estimated. we are seeing a drop in gasoline inventories of 110,000 barrels -- a much smaller drawdown than had been estimated. distillate inventories seeing a larger drawdown. 3.6 million barrels. it looks like a mixed report in terms of crude itself, and then the refined products. just looking at the feed through two oil prices and the reaction we are saying, oil lower on the day. last night we got industry data that predicted the build. oillso learned the kuwait strike was not going to go on. oil has been trading lower by about 2%. it has been coming off the loans of the session in the wake of these headlines. to aually takes 20 minutes half-hour. we will check again at 11:00 a.m. mark: let's check in with first word news. david gura has more from the newsroom. david

julie hyman has the latest on some of the movers particularly on earnings here. lie: they earnings driven. all three major averages are moved by the individual components that have reported earnings. that is why the nasdaq is trailing today because we have had some big cap tech disappointments and also in biotech. the dow jones and s&p 500 are each of exactly the same amount -- .41% here. some early highlights that want to mention. on the upside, we have johnson and johnson and goldman sachs. johnson & johnson reporting earnings to beat estimates. goldman sachs cutting its way to an earnings beat. we have seen that happen with a number of banks. goldman was down earlier but then turned around. ibm falling after its newer businesses like the cloud is this not making up for lagging legacy business. i also want to talk about more broadly what has been going on with the major averages because we have been looking at new highs for the year for the s&p, the dow, and the nasdaq. if you look at broader measures of stocks, you will see the have actually made record highs.