julie: i am julie hyman.tock of the hour is an american icon, ford motors. double upgrades to the shares all the way from underweight to overweight. we are joined by abigail doolittle. this has been traumatic on the part of morgan stanley. what is behind this call? abigail: you are right about that, they posture change. really reflecting the fact that investors are taking this seriously. ,dam jonas and morgan stanley the biggest piece was valuation. if we look at the graphic dashboard, a good terminal to look at for this. we see the stock in a nice way. off the highs but still above average value. when i want to point to is the evaluation. 75% discount -- that is impressive. plus, adam jonas is saying that the f1 59 to be with 150% of the enterprise value. relative to conciseness -- consensus estimates, he says they appeared to be bottoming, and for 2018 we're looking at $1.75. a dollar $.21., that's $1.21. i could support stocks higher in the future. shery: this is an industry-related call? abigail: that is

julie: and i'm julie hyman. report painted a rosy picture of the american economy. headline number was strong, payrolls rising by 313,000, the biggest increase since july 2016. the unemployment rating held averaget 4.1%, but the hourly earnings rose less than economists were expecting, 2.6%. joining us with more is the head of the u.s. intrinsic value equity team at ubs asset management, joining us here in studio. there i say it -- goldilocks for u.s. stocks? thomas: that is what it sounds like. we have a great economic backdrop, and you worry about rising wages and what that does to margins, unappointed damage but wages are not going up too much. in the short run, it is goldilocks. unemployment at very low levels, you expect some weight inflation going forward. julie: and even if we are not getting it in the big jobs report, individual companies are saying they are paying more. kroger is one example, saying that is pressuring our margins, we are having to pay our people more. is there something the economic reports are missing here? thomas: you have to break this do

julie: i'm julie hyman in for julia chatterley. oomberg markets." ♪ julie: we are live and bloomberg world headquarters in new york over the next hour. here are the top stories we are covering around the world. don't call it a comeback yet u.s. stocks fluctuate after rallying back from steep losses as investors react to president trump's move to embrace tariffs on steel and aluminum. whether warning. a major nor'easter pounds the east coast, raising the risk of flooding. the week ahead. enter mayors in italy that may bring on more potential market mayhem. we are one hour from the close of trading. let's get a check on the markets with abigail doolittle. we have seen something of a comeback. abigail: a little bit. i would call it more volatility considering we were down 1% earlier. now we are down mix. lots of trading action to julie's point. during what we have had over the last four or five weeks. battles between the bulls and bears. today is a must and inverse mirror of yesterday where we had the major averages fluctuating to the

from new york, i'm julie hyman. mark: live from london, i mark barton. bloomberg markets." julie: here are the top stories we are covering from the bloomberg and around the world. president trump threatens to veto the $1.3 trillion spending bill passed by congress, raising the possibility of a government shutdown at midnight. turn,takes a hawkish picking john bolton as his new national security adviser as he ditches moderates in his inner circle. trade tensions escalate as china heads back on u.s. tariffs. we speak with ian bremmer about why he says geopolitical risk is the highest he has seen since the 1990's. 90 minutes into the trading day in the u.s., bloomberg's abigail doolittle is here with what is perhaps a surprisingly positive picture, that we had big selloff yesterday. abigail: this is a bit of a risk on town

. ♪ ♪ julie: live from new york, i am julie hyman. as our director said, a little london beauty. counting down to the european close. julie: it is time for the bloomberg business flash, a look at some of the biggest business stories in the news. a former equifax consultant is facing charges of insider trading. a grand jury has indicted him for selling off nearly $1 billion in equifax stock just before the massive data breach was publicly announced. he received an alert in late august of the breach, but the company did not disclose it until later. more penalties could be on the way for ubs after the enforcement chief today said other sponsors have been extraordinarily reckless. a penalty onpped ubs in february. other investigators are looking at possible responses. internetbetting on the to pulled out of a sales slump. they are watching a three-year comeback plan after another quarter of disappointing earnings. slashinghe plan is distribution spending with an online push. signet often competes with itself with locations in the same mall

comcast business outmaneuver. >> i am julie hyman. scarlet: i am scarlet fu. market. julie: we are live in bloomberg headquarters. here is the top stories we are covering. what a difference a decade makes. we take the pulse of the market 10 years on from jpmorgan's acquisition of bear stearns. telecom tightens ready for trial. at&t and time warner head to court to defend their $109 billion ledger. we will have details in our deals report. apple's next big announcement. a look at what the text ryan has up its sleeve. let's get a check on the markets with abigail doolittle. a mixed picture. that has been a trend this week. abigail: we have had lots of intraday volatility going into the close. we had gains for the three major averages. perhaps the first time we have seen that. to closea tendency mixed or down. the s&p 500, its first four day decline of the year. up .251%. s&p 500 the index has managed to hold on to the gain all day. the first time this week. we have another hour of trading that iris are trying to take this one right through. uncertainty not pushi

. ♪ julie: live from new york, i'm julie hyman. rk: live from london, i am mark barton, county down to the close in roughly 40 minutes time. julie: dropbox in the u.s. has debuted in that stock started trading much higher, 45% higher on the nasdaq today. alex barinka spoke to drew houston about how the company is going to grow the paying subscriber base. the product we make is good as it can possibly be, so give them a good reason to buy dropbox. we look at that 11 million subscriber number and by any standard that the large number. at the same time, their hundreds of millions of people using dropbox and we're solving the universal need. we certainly see a lot of opportunity. we are not going to run out of people who need dropbox anytime soon. happy with that paying percentage? mr. houston: i was want to keep growing. we have 500 million registered users and there are one million office workers in the world. we are focused on how we reach more customers, how we make dropbox more useful, but it starts with building a great product. a

julie: in new york, i'm julie hyman in for vonnie quinn.he european close on "bloomberg markets." mark: top stories we are covering from the bloomberg and around the world. stocks lower in europe and the u.s. as investors react to a series of geopolitical risks from the looming trade war to a potential u.s. government shutdown. drew houston from as dropbox begins trading on the nasdaq, debuting 38% of public ipo price. and you can prime minister theresa may scores diplomatic -- u.k. prime minister theresa may scores diplomatic victory in brussels as more countries consider ousting russia's diplomats over the allegations in us by poisoning case. europe

that means julie hyman. julie: february was the first month that etf had outflows. of the movement had to do with rates more than volatility. that, this iss really interesting. the thinking is the blowup in theshort triggered increased volatility in the selloff. we forget it was the jobs report with the higher wages that also spurred a selloff. >> it can't hold a candle to rising rates. rising rates, the invisibly hand etf, it's behind getting more operational flows. if you look at fixed income, you have $1 billion. that is sleep inducing. if you unwrap that number, you've got a lot going on. you've got a 9 billion swing from corporate's to treasuries. you had a 5 billion swing from long faded stuff to shortstop. as a lot of movement. it reminds me of the taper tantrum days, when you had the rotation. there is something going on here. it was symbolized by a cutie. -- it was symbolized. that is a long time. people are rotating down to something or they are going to something that is essentially cash. that was the second-biggest dinner on the income side. that has bee

julie hyman at eyewear right here on bloomberg television 10 years ago covering all of this. e been going down the relay and trying to find some of the old coverage around that time. there i was at that time doing an interview. i believe that was from march 17, 2008. scarlet: you can tell by the $240 billion price tag. julie: which didn't end up going up in the days following. matt miller and erik schatzker television as well talking to our guest there about what will happen next. unfortunately predicting lehman brothers would be ok in september of that year. it was decidedly wrong. joe: we get some wrong. julie: yes. this is bloomberg. ♪ scarlet: "what'd you miss?" 10 years ago today, bear stearns agreed to a fire sale sold to j.p. morgan chase for two dollars a share because of the toxic mortgages. the bank was the first number of the fall in the financial crisis, the worst panic to grip wall street since 1929. we all know what happened afterwards. here now to talk about how far we have come in the mortgage lending market is our guest. we were talking during the break at 10

julie: and i'm julie hyman, in for scarlet fu.mberg markets. ♪ julia: we are live in bloomberg world headquarters in new york over the next hour. here with the top stories we are covering on the bloomberg and around the world. stocks pop. new jobs jumping, but earnings growth is slowing. lloyds.er the goldman sachs ceo says he is planning his exit as soon as the end of this year. pen,ith the stroke of a the president has set off a race among nations to find relief from steel and aluminum sanctions. let's get a check on the sanctions with julie hyman. abigail: abigail doolittle. we have some major averages on the dow, s&p, and nasdaq, sharply higher, up more than 1%. ea m

the marketsck on with julie hyman. julie: we have the major averages holding in the green here.s been a pretty tight range here. and really, the outperform or today, this stand out. all caps stocks. -- small-cap stocks. as the look at that proxy for the potential for a trade war. companiesly oriented would do better if, indeed, tode war and tariffs come fruition. this is looking at the ratio of the russell 2000 to the s&p 500. this goes up, it is outperforming. that is what has been happening since the tariffs and trade war talk started to heat up. the russell taking a sharp leg of versus the s&p 500. we have records within tech. looking at consumer tech like amazon, up to a record. netflix getting the street high price target. newer and older tech represented here. there is one of the story we've been watching pretty consistently. broadcom, the u.s. treasury questioning the national security of a potential deal here because broadcom is domiciled in singapore. finally, speaking of retail in today's session, i wanted to take a look at some of the movers there. the same-store sale

julie hyman is with us. a busy day for investors to make sense of what is going on. lie: right now, they're not making much sense in the sense there isn't a clear direction for the u.s. market. we opened up higher and turned weaker and now it is a mixed picture with technology holding that the best in the s&p 500 a little changed and the dow falls more than 100 points. we are seeing the divergence in groups within the s&p 500, reflected in the broader action. materials and tech and yunnan to games but staples are down, as are utilities, health care, and financials. not any big swings on a percentage basis but seeing a divide in major averages great if you look at individual stocks and health care, there isn't a huge news but incremental moves. united helpful offer are missing discounts to more than 7 million customers. that is to help ease the financial burden on high-priced medicine for patients who use them for chronic ailments. one analyst says this is probably more of a pr move then anything else. motivatedt is pr versus actual change. you are seeing shares off a

i am julie hyman. joe: and i am joe weisenthal and we welcome you to closing coverage. let's begin with market minutes with stocks filing but slightly, we got the fed decision and it was basically as everyone expected. andad the fed penciling three increases for this year 2019.o for there was a bit of a gyration and stocks went back to where they were for the conference began. joe: we were up before the conference and then modestly lower on the day. overall the news conference not causing a lot of volatility. scarlet: it went as expected. facebook shares have been on a two-day losing streak where they $168 and todayto they bounced back. sheryl zuckerberg and sandberg responded to the data privacy breach. sandberg posting a blog saying an action atgrets mark zuckerberg indicating that facebook will review its platform and investigate all apps and take action. we will see how this shakes out. julie: other interesting thing about mark's posting is that it betweenach of trust facebook and cambridge analytica and he is saying they did something they were not supposed to do.

. >> let's go to check on the market with julie hyman. we still have this selloff.the equity trade today reflecting these concerns about the tariffs on china. the details on them at the be announced. the insurgency is an issue for the market. all about an issue for stocks going higher, preventing them from going higher. you also have what is going on on the technical side. if you look at the moving averages, you have the 100 and $200 they. was rightnt today, it at it, but the present level was right below that. moment and asthat we dig into what is moving, financials have been thisfically tonight today is one of the groups being effective with the most. they have the added problem of a downgrade today over william blair. it could lead to pressure on sales and gross margin. many have a spinoff. fedex down 4%. caterpillar is taking a hit. proxies, youat the have import prices which have been taking a pretty consistently since 2017 and then , really been -- the s&p a broad basket and then you have technology, hardware storage and yellow -- stocks in yellow. all of thes

julia: we are less than one hour of the close of trading for her let's get a check with the julie hymanlie: facebook's troubles are not infecting the rest of the market. as we seechnology major averages rising into the close. the s&p and nasdaq have been bouncing between gains and losses -- losses today. now they are solidly in the green. even with him technology, things are split. nvidia, theon and two largest point country bidders to gains in the aspirant -- s&p 500. they are recovering. we do have facebook, which has bounced off its lows of the session. fallen 10% over the past two sessions per you have oracle, which forecasted slowing cloud-based sales growth. it is down by 9%. those are two of the largest drag on the s&p 500. you have that split major of what is going on. elsewhere, you have the fallout from president trump's announcement of the details of what his administration wants to do to combat the opioid crisis. among measures that he has talked about is something to drug prices. he talked about that late yesterday and said there would be more to come. companies,stribution

red across commodities good let us get a check on the red in stocks with julie hyman. e: we continue to see the selling here mostly unabated as all three major averages trade lower. the nasdaq taking the worst of it with the 2.4% decline. the nasdaq is now off by more than 3% from just a week ago when it closed at a record high. definitely have seen the pullback there. the other two averages have not retained those record highs. the nasdaq is the soul of the majors to do that. let us check on individual movers we have been watching in sectors and in individual stocks. here, allf the groups of the groups in the s&p 500 are lower. weh is down the most his have been talking about. health and energy participating in that. you see most of the groups in the s&p down by at least 1%. one of the individual stocks we have been watching is a new all brands. you heard scarlet talking about it a few moments ago. trying to help will. shares down 6.5%. analysts at wells fargo said this will likely not be the end of the turmoil at newell. that we could see more to come in terms of boar

. >> let's get the latest with julie hyman. lie: they are still modest for the three major averages. the s&p in the nasdaq have been bouncing around between gains and losses. reboundlittle bit of a from the selling sparked by facebook if not directly connected to it. take a look at the groups today. on the plus side, the oil crisis, industrials, financials, so the interest rate sensitive groups have been falling ahead of the fed meeting tomorrow. we see two-year yields remain at their highest since september of 2008. also weekechnology during that session. technology, selling within facebook. selling, seeing specialty -- this seems to follow on the heels of the president's on the measures he is taking on the opioid crisis. selling, ,e says the justice department the federal level ford drug companies, and he is talking about continuing to attack high drug rices. among some of the weaker performers today. dealers,atching car group 1 automotive, and the sign now turned around, it is trading higher here -- lower, excuse me. we can m

. ♪ julie: this is the work markets and nine julie hyman --.pet: the maker of dove is consolidating its headquarters in the netherlands. the decision is able to british prime minster theresa may. some closure today in one of germany's biggest accounting partals scarlet: christian fored guilty to conspiring something to relate on march 2 and display cannot be reported until today after the court restrictions. michael spencer's next group has confirmed talks with futures trading giant cme group of a potential acquisition. people familiar with the matter say that nex which is valued at $3.5 billion could attract other operators. that attractive to the cme group which is the owner of the chicago exchange. and that is your business flash update. get back to breaking news on walmart as the stock is taking a hit after a whistleblower claim that they were misleading e-commerce results and fired an executive for combined the company was breaking the law. let's begin tells matthew boyle covers big-box retail for bloomberg. 's is a fascinating story becau

i am julie hyman in for julia chatterley. you are streaming us live on twitter, we want to welcome you to our closing bell coverage. we begin with our market minutes. the nasdaq finishing at a record high but across the board when you look at u.s. equity levels, they came off their best session. trade.ower at the end of the nasdaq paring its advances closing up by one third of 1%. joe: this tech rally is remarkable. >> there was no economic data as well. in a holding pattern. apple is trading at a record and amazon once again in the session. we has -- we have a lot of tech stocks that continue to climb. speaking of which, when you look at individual stocks on the move during the session, semis continuing on their care. macron. itsas trading earlier at highest since 2000. let me see if it surpassed its previous record high. sinceat its highest september of 2000. it had a couple of price target upgrades. the analyst they are from the institute letting a $100 price on the macron share. was in the early stages of another major br

julie hyman has the details.all about mexican beer and american appetite for it, which is apparently enormous. this owns corona. it is going to be rolling out a new brand called corona premier, a lower carb beer, to compete with michelob. fromu look at the numbers mexico, the imports from mexican gallons is howon much beer we imported from far otherst year, nations -- outpacing other nations. beer comesimported from mexico, followed by the netherlands, belgium, germany, and canada. mexico dominates. is one of the most popular mexican brands, along with does act he's and takata a froms equis and tekate, heineken. >> do they expect this to continue? >> the sheriffs -- shares forecast for the year is above estimates. earnings beat estimates, sales beat estimates. weyou look at the bloomberg, have a look at its be are versus wine and spirits shipments. spirits shipments sales rose, but unit shipments fell. it is a higher price point. bloomberg intelligence is looking at the numbers, saying we are still going to see g

julie hyman is back to give us details.eryone likes me to say general mills, maker of lucky charms. [laughter] reporter: and cheerios is what i would say, but appropriately enough. very funny. general mills is cutting its full-year forecast, blaming higher shipping costs. that could be prepping the company -- crimping the company's margins. there has been something of a pricing war among retailers that puts pressure down the line on suppliers like general mills. if you take a look at the company's gross margin, a reported its lowest since the first quarter of 2015. gross margins have been fairly stable in 2017, but now seeing that drop, general mills says its full-year outlook for earnings per share is going be flat to up to 1%. obviously that is problematic. you have the cost issue on the one hand, the sales issue on the other hand. if you tickle at the bloomberg, we've got a look at year-over-year sales growth. the company has seen a little bit of a rebound in sales under sales, but overall on what is happening in cereal

here is julie hyman. ve stocks bouncing around and there is little change in the nasdaq -- there is no rhyme or reason here as we see these bouncing around in the range we are watching throughout the session. take a look at the bloomberg and the groups on the move. energy and consumer discretionary at the bottom -- it includes amazon. this in the consumer discretionary, and the stocks doing best today are telecom and real estate and some of the other groups like health care and consumer staples are doing well in the session. crude oil prices is the reason energy has been underperforming today. oil is having its longest slide in a month and is falling today -- particularly you saw oil inventories come out and inventory in the u.s. last week rose double what was estimated by oil analysts. with a prices down decline of nearly 2%. -- theynterest rates are taking a cue from treasuries and what is going on in the treasury market as we see the yield at 2.76% and has done below 2.8% which provided support around t

julie hyman is with us.s is the year today dayt and it is a whippy at the end of the first quarter. you can see the dow and as are on track for declines, so the clients for the first quarter is the first declining quarter as a whole since 2015. unusual in this bull market to have a quarter of negative performance, but it looks like that is about to happen. anything could change tomorrow with the whipsaw we saw in the market of late, and the nasdaq has from the the gains. tech is still higher despite the underperformance recently. it might surprise you to learn that the two groups in the green for the quarter and for the year as far are information technology and consumer discretionary. the s&p 500 in white, those two groups have remained above water. if you look at the year, tech fest saved the s&p 500 from steeper declines. if you look at today's session, that is not the case. momentum stocks are associated with tech, like tesla for example. ad amazon is lower after report that president trump is a test wit

julie: i'm julie hyman. scarlet: i'm scarlet fu. joe: i'm joe weisenthal.ter, we want to welcome you. scarlet: we begin with our market minutes, closing mixed on the day, the s&p and nasdaq are lower. and the dow moving higher by 115 points, a lot of economic data. nothing that really told a new story though. joe: it is interesting. i like the empire and philadelphia fed and numbers, but not what you would would expect. scarlet: below average before the fed a meeting next week where jay powell will make his debut in front of the new, in front of the world really. he explains the policy going forward. julie: even though the decline in the s&p 500 is a small, it is the fourth straight and it is the longest losing streak so far in 2018. so it is because we have had choppiness in the market that we have not seen that consecutive with declines. scarlet: in terms of equities, what specific stocks are you looking at? julie: walmart: because on the day there was not much change, we had the headlines coming out this afternoon that sense of the stock lower end of tha

julie hyman is here. this is not necessarily spillover from facebook. t of it is likely spillover from facebook. the issue is israel. saidustice minister there the government is considering taking legal action against the company. it has to do with a legend terrorist tweets or inciting to violence the at twitter. which is something that has been under scrutiny in israel for several years. the focus there has been on facebook as well. it now it appears to be shifting to twitter. it -- there,elage too, it is hanging over twitter as well. that is what the trigger is for the decline we are seeing in the shares today. joe: it is interesting. it's not really about what is going on with facebook. in a broad sense, it is. all of these companies are dealing with things that they just don't really seem to have the bandwidth to police on their own platforms. that is a common denominator with this. the question is what will be the cost in the end? there is question about whether this will affect margins at twitter just as it would at facebook. what will be the cost

. >> and i'm julie hyman in for julia chatterley. .elcome ♪ >> we are live in bloomberg world headquartersr the next hour. here are the top stories we are covering on the bloomberg and around the world. plenty to ponder, u.s. stocks mixed. line, meet the man known for his taste for fine food, wine and music. and dropbox downgrades expectations b of the silicon valley company reins in its goals i had of the market. we have stocks closing in two hours time. n interesting divergence. the nasdaq today putting in yet another all-time high.

here's julie hyman. julie: we are seeing a mixed picture just an hour ago, the last 10 or 15 minutes is when we saw stocks take another leg up. technology continues its strength. consumer discretionary shares are helping overall gains. they are among the top groups in the s&p 500. worthe laggards mentioning on the session. among them, some of the retailers we have been watching. in the case of target, that company is spending more to get sales growth. it did see comfortable sales growth last quarter that was better than estimated, but it's margins were also the lowest in 20 years, and the proper were cast -- profit forecast is below estimates. cbs -- we have been talking about the corporate bond sale, one of the largest on record. it is offering $40 billion of investment-grade debt. the shares from equity trading lower by 1.5%. walgreens is also trading lower. the plus side, not just today, but a bigger trend we have seen highlighted by someone covering the gun industry for us come is what is happening in

let's go to julie hyman for a check on the markets. julie: we have accelerated in the last half hour or so. all three major averages are down 1%, for the third straight and this is the third straight day we have seen selling for the major averages. techs, financials, materials, health care, and discretionary is. the 50 day moving average and now approaching the 100 day moving average. it is unclear if these are due to the tariffs marking some sort of trade war, or if there could be another contributing factor. it has been notable that the selloff is accelerating. let's talk about the dealmaker in the wake of this tariffs conversation. u.s. steel, stocks are ticking down. it looks like no announcement was going to come today. then when the president talked about the specifics on the tariffs, stocks went right back up. if you look at aluminum companies and other still makers it has been a similar trajectory. alcoa have nucor, been seeing that kind of action. let's turn to the automakers. lower, alreadyg in the wake of their monthly sales

lisa: julie hyman is here to look at the sector etf action. y recent action has been good. today's action has been good. 2.5% of today's session. it represents a bounce back from recent declines in technology, which we will talk about in a second. the sector universe, if you look at some best performance, it is stocks that have been beat up this week. along time high flyer then has recently pulled back, a laser company of facebook of course, which was beaten up recently and bounced back, and a chip equipment maker among those perform -- outperforming today. if you look at year to date, you are still seeing gains. it is one of the only higher on the year and the high has come with a lot of ups and downs. the selloff we saw in late january and february climbing back to record levels for individual stocks as well as the tech industry for the selloff again. we will keep this in perspective of what we have seen all year. volatility, this is something we have watched all week. this is the volatility of the 30 day realized volatility versus the xp why

bloomberg positive julie hyman and making economic data -- we have some breaking economic data. julie: the confidence survey is coming in from march, the final really being revised a bit lower from the original reading on this sentiment index. as we know, the consumer confidence index has been generally strong of late, although the most recent ones have been a bit weaker. even with that revision to 101.4, it is still the highest level since 2004, even with the volatility we have seen in the stock market. the job market perhaps offsetting concerns about what's going on with stocks. when it comes to stocks, here we are in the first, the dow in the s&p 500 trading higher on the day. the nasdaq is still struggling to gain traction as we see weakness in some of the larger cap tech stocks. perhaps not the wholesale selling that we saw in the first session, but that is where we saw the struggle. speaking of, the first quarter was one for many stocks. majore got a look at the and our witness quarter and the s&p and the dow, and unusual moves were gains -- barring unusual moves were gains

. >> i am julie hyman."bloomberg markets." ♪ scarlet: we are live at bloomberg world headquarters in new york. here are the top stories we are covering on the bloomberg. white house shakeup. rex tillerson is out, and mike pompeo is in. we will be hearing from the former oil ceo in just a moment. u.s. stocks, fluctuating, the dollar declining as investors weigh the latest out of washington. we will speak with one of the biggest bears on the street. mike wilson, chief equity strategist at morgan stanley, will join us. let's get to u.s. markets. abigail, the cpi report was a big show, but it ended up being a smaller headline. abigail: we are looking at more intraday volatility. we have the

julie hyman is here for the details. julie: is a different reaction to the market today than it was on tuesday, and on tuesday his commentary was red, clearly more hawkish. we see a bit of bouncing around in the treasury market and the tenure is unchanged, 2.86%. we are seeing more stability to some extent today. an interesting chart my producer but to my attention, what happens to a two-year yields when we seek rate increases, and if you look at the bloomberg we have to federal reserve rate increases. the rates tend to rise leading up to the increases. once the increase happens, you see a sideways or downwards movement, at least in recent history. we'll see what happens if we get three or four rate increases this year. bring get back to stocks now if you look at major averages, a little change. are sellingaterials off and tech has rolled over on the day and energy c shares are among the best today. steel to talk about u.s. as an example, because we have to look at the intraday chart nbc that chart lower middle the stock

with, julie hyman is here raking economic data. julie: factory orders are coming out in line with estimates, durable goods orders. factory orders in january fell by 1.4% and durable goods orders down 1.6%. if you look at capital goods orders, nondefense at airlines, a drop of 3/10 of 1% and these numbers tend to bounce around but showing a pullback in january for durable goods and factory orders. those don't tend to move the market but it's something to watch as we weigh the talk of tariffs and how it will affect manufacturing. all three major averages are pretty steady, in the green on this back-and-forth debate about tariffs in washington. elsewhere, we are watching the retailers out with earnings. the earnings are falling short of analyst estimates. spendingthat target is more to boost its sales. sales beat estimates, rising 3.6% last quarter but the company is spending more to ship goods to keep up with amazon and walmart. it's holiday season gross margin was at their lowest in 20 years. though shares are down about 4%. bid by n

julie hyman has more. julie: more than a few. go to the lowest of the session, accelerating to the downside out of the open. the s&p 500's breath broadly negative, for stocks falling for everyone that is rising here. selloff coming in technology, nasdaq down 1.6% down the the nasdaq 100 down 1.9% and the nasdaq composite was at a record a few days ago and since then, it is down by 3%. the nasdaq 100 down for the fifth straight session. quite a lot of selling going on in the s&p 500, also below the overnight lows that we saw in the futures. when you look within technology, facebook has a lot to do with what's going on today. that stock having his worst session back to november of 2016 on these concerns about favorite access to having facebook users information and holding on to that information, what it did with it. facebook now facing questions from a lot of regulators about what it is doing to stop this in the future. both here in the u.s. and in europe. microsoft selling off as well, after participating in the selloff separatel

we are 30 minutes into the trading day, julie hyman is here, what a comeback. julie: and a little bit of debate on what this is all about, because it depends whether you think the friday's selloff was due to increase concerns on a potential trade war. there are certainly those that believe that. the widening of the spread from other movement we have seen over the past week or so as a potential trigger, or something that exacerbated the equities selling on friday. whatever the case, there seems to be relief or hope on the traded fund -- on the trade front from secretary mnuchin that he is hopeful china and the u.s. can come to a negotiated conclusion without having a trade war. all of that helping the bounce back we have seen in today's session following a poor week for u.s. stocks last week. technology leading the rally, the old tech. facebook down today, but microsoft and google and intel and apple have been trading higher. we have a look at those is stocks in particular. microsoft is higher, morgan stanley raising their target to the highest -- he called it hi

reversed in early trading, and not in a bright direction, as shares rose after this department -- julie hyman details. julie: let's talk about the good at the company. reported profit after a earlier loss, $182 million for the prophet, the loss was $607 million. a lot of it has to do with the tax cuts. the company got about $470 million in a boost from the federal tax change. so it had telegraph said it would get a benefit, although we were not sure how large it was going to be. the company also cut its long-term debt to $3.2 billion, down $1 billion from a year earlier. if you look at the shares and what happened in the wake of those numbers, you see the spike in the after-hours here, and the come down once the session got underway. was quite altogether wide, and the shares are now down 7% or so. the issue is sales, and continues to be sales. the company had its 31st consecutive quarter of declining store sales, and i have that on the bloomberg as well, a 16% decline in comparable sales last quarter. so sears still facing a lot of issues. shery: how has it survived so far after seeing a look

julie: and i'm julie hyman, him -- in for julia chatterley.mberg markets. ♪ we are live in bloomberg world headquarters in new york over the next hour. here are the top stories we are covering on the bloomberg and from around the world. we will be speaking with keith parker of one of the biggest pulls on the street as headwinds mount for u.s. stocks. and you can't always get what you want. that is the message from the u.k. prime minister theresa may. the former bank of england policymaker weighs in on the brexit ways and means commission. and the stock of foot locker slides as retail sales are jittery. tara reagan is keeping track of all the moves. initially, it looked like we would have another steep selloff. we are now hitting stocks again? tara: on improving picture, we were down 1% on the dow this morning, and as scarlet mentioned, t

julie hyman is here, as a pretty benign for investors. he stock is trading at a record and it gained over the past few days, the today magnitude of the game is only the most since last monday and tuesday. it's not unusual gain for goldman sachs, but it does seem like this a steady as she goes announcement here and confirmation of who is going to succeed lloyd blankfein is somewhat reassuring to investors. mike mayo at wells fargo saying in a note today that it is not co-ceos, which would have been muddier, it's not a delay which would have been trickier as well. they are still mostly -- i haven't seen any analysts change the recommendations on the stock on the basis of this news. you still have the majority of analysts, 15 at neutral ratings, sell.buy, two cell -- shery: lots of it for ratings tells you how many challenges the new head of goldman sachs will face going into his new job. although we have no clue when that will be. julie: exactly. if you look at the ford thunderbird blankfein's tenure, -- if you look at the performance under

let's get to julie hyman for more on today's market action.eeing stocks extend their gains, all three averages up by at least 1%. it is kind of unusual -- it is not unusual to see these kinds of gyrations. that is what is happening today. even the nasdaq which has been the consistent underperformer is now roaring back. something that is helping the nasdaq in particular, microsoft. that stock is now up by 1%. turning around after we got an email from the ceo saying he is making some changes, forming two new engineering teams. microsoft also announcing that the executive vp of windows is leaving the company. that seems to have been one of the catalysts that is now pushing the nasdaq higher. as for other technology, we are also seeing some strength with one exception. apple, facebook and alphabet bouncing back today. the have been sliding since peak in technology we saw on march 12. the amazon selloff is still going on after we have the president tweeting this morning about the company. oil prices are bouncing back today after we had that larger

and i am julie hyman and .berg markets". ♪ we are live for the next hour and you are the topics were covering around the world. oil trump speaks, allies says that larry kudlow. antitrust deals report. ministera's prime logic traps tariffs and is angling to save nafta. and we have u.s. markets closing in two hours time and will get a check with abigail. ofgail: another day volatility and where looking at mixed trading action and we have the dow up slightly at the dow earlier had been up 1% and now one quarter of 1%

stock markets steadily falling in today's session and here's julie hyman with the latest. it is

julie: and i'm julie hyman, in for julia chatterley.oomberg markets. ♪ scarlet: we are live in bloomberg world headquarters in new york over the next hour. here are the top stories we are covering on the bloomberg and from around the world. a decadefference makes. we will look at how jpmorgan's decision to buy bearish in a fire sale has paid off big time. and we will discuss the watershed call to sell stocks and hold cash. what this means for investors in this high volatility landscape. and as bright as it hangs in the balance, we speak with the prime minister of ireland about the crucial role he plays in the eu discussions. we have u.s. markets closing in about two hours time. abigail doolittle, we had some strong factory data this morning? had strong also gains, and now we are starting to look at intraday mixed activity. the dow and s&p 500 are still higher, but the tech heavy nasdaq and the nasdaq

here is julie hyman. >> consumer confidence coming in at 127.7, lower than the prior month and the 131 reading estimated by economists. the present situation index ticking down and the expectations index ticking down as well. a little bit of flagging in consumer confidence from its recent elevated strong levels. perhaps one thing affecting it is we have seen volatility in the stock market as of late. that could be something weighing on individual confidence here. amidst that volatility, we are still seeing a little bit of a gain following the big gains yesterday that were the largest since august of 2015. momentum continuing, but we are seeing -- around in the session. if you look beneath the surface at the confidence of institutional and professional money managers, we are seeing some chinks in the armor. this is the dow jones industrial average and blue, the smart money flows index in white. what this does is tracks moves in the dow in the first and final 30 minutes of trading. the thinking being professional managers are more active during those periods of time. index hovering aroun

it is time now for etf citing with julie hyman. julie: thank you so much, vonnie.ng at individual practice strategies that have been popular in their own right, but the question is which one to use and how many to use? enter multi factor etf's. they do it for you. here to discuss this is tom. tom, when we are talking about multifactor etf's, what are the main ways to build it? tom: i actually think this will be a space that will get a lot of attention coming up. when you say multifactor, it can mean a lot of things to different people, but what we are seeing is there is not a lot of consensus among the factors being targeted, but we know in their own right, they are popular. what they do is be more of a core solution, so they take the factors and bundle them altogether. theyeason they do that is have to be different year-over-year so you do not know what your low-volume is going to do, so they merge them together in one product. julie: there is one that is quite popular already from goldman. what is it about that one that has made it popular? >> goldman came into t

time now for options and insight with julie hyman. >> bernanke today, head of the institutional directivesday when the becks is vix is up. you said folks are selling the rallies and buying predicts, which is a little bit of a change. what is going on? >> i think it was very off in february. we did see the positioning off for too long. we got a little scare and we stopped march 2, so it was another test and confirmation we might go higher. >> are we seeing that reflected in the options market. have people reduce their hedging or are they still worried about further downsize? >> there are a lot of opportunities. we have not seen since breakfast brexit.s it -- a lot ofthere are opportunities to use spread strategies. we are using the higher levels to take advantage. timely.to be very we continue to like spreads. i don't think we will see a spike like that anytime soon. >> dimension single talks. you are looking at something considerably broader. here, as you say you guys like spreads, what is the way to take advantage of that? cost are playing the low payout spread. betrayed we are highlight

stock markets steadily falling in today's session and here's julie hyman with the latest.t is hovering around the lows as we see an acceleration of loss after the bout, and stability is that the lows of the session. technology is leading a selloff at nasdaq and nasdaq 100 both down more than the other major averages. and nasdaq 100 down for the fifth circuit day, the longest losing streak since november of 2016. docs,not limited to text and you have the likes of caterpillar and dupont that are trading lower. and facebook is a big part of the story today. ,f you look at those shares there were to the most since september of 2012 and they are still at that level, and other tech companies are selling off as well. amazon, andsoft, cambridge analytic a reportedly with users of data, tens of millions of users in the presidential election is at issue and we see other tech companies also rolling over in the session. the declines we are seeing in these companies alone is significant. if you look at the bloomberg, the move function, yet facebook, thee, and amazon, and points they ta

hyman, in i'm julie for joe weisenthal. if you are tuning in live on twitter, we want to welcome you to our closing bell coverage, every weekday from 4 p.m. to 5 p.m. eastern. we are looking at a stock market that has come off the lows. it was a jagged move hired. the dow in the s&p didn't make it into oz it of territory, though the s&p came in close by the end. the sectorlected in performance, tech shares ending the day by half of 1%. volume is important to talk about, we've got to talk about the snow happening in the northeast. scarlet: the storm hasn't necessarily been as bad as predicted, but a lot of people did stay home. some of them might be trading from home, but volume was 12% a low the daily average, something to consider as we look at the back and forth action. over theice action session, we have climbed steadily since 1 p.m. we saw a key increase as a result of what we got, as you mentioned earlier, this bounce from the likes of mexico and canada, these tariffs, a softening of the stance. scarlet: especially sin

scarlet they investors taking stock of today's treasury justza, as julie hyman said, not too hot, notoo cold. they're clean -- they are keeping a close watch on trade tensions. we are joined by scott comments -- scott clemons. 3.5%.p gaining even with all these trade tensions percolating, it looks like the path of recent debt path of least resistance is higher. >> indeed i think it's why the markets are able to power forward with a lot of -- without a lot of political help. the underlying supports of corporate earnings and personal consumption, personal confidence are all in good shape. we will get more evidence of that in april. so far as the fundamentals carrying through. >> do think there are any risks the market is ignoring at its peril? re: getting back to the phase and market where it is too bubbly order to optimistic? >> i think the market is underappreciated and the risks of inflation coming through wages. you'll remember the january labor market calls the market a little bit of a disruption for precisely that. you are beginning to see the market take that into account. that's

julie hyman with details on this selloff. looks like we are heading south. lie: there has been bouncing around around the 100 day moving average. go slightly below it and then bounce up again. down,eless still trading in a downward trajectory, with volume 10% higher today than the 20 day average on the major averages and of course as we have been talking about, the catalyst was the talk of arrif on aluminumc and steel. i want to focus on the industrials because this is one of the groups that is at the center of this, what effect will it have on their manufacturing capabilities and cost as a result of this? if there are retaliatory tarri fs, what effect will that have? following arols maker of heating and cooling equipment. it is spread across different industrials. although it is a broad-based selloff in the market. looking at aluminum, a five-year chart, just to get perspective on what we have seen, it is trading at near highs. the question is, what if we have this back-and-forth, what kind of an effect will it have and what kind of gap will you have between