i am mark crumpton.ake a look at the european market close. >> we've seen stocks fall in europe today. snapped a600 has five-day rally. we've seen some commodities rebound, pushing commodity producers hire. they have been the biggest gainers on the benchmark, that has been outweighed by decline for banks. let's look at the individual stocks we have been watching today. mean -- iee what i want to start with axel springer , one of the biggest gainers on the stoxx 600 today. net income beat estimates. this was the company that missed out on buying the ft from peers. they would have loved to buy the ft but the $1.3 billion that nikkei paid for it was too expensive. the stock has been gaining. credit declining even though the second or profit rebounded. it did not get backing from regulators for a reorganization that would have allowed it to basically free up cash to an award investors. one of the biggest losers, national bank of greece the biggest loser down as much as 30% today. those greek banks have been

mark: i am mark crumpton. betty: welcome back. mark: thank you. let's start with china.t was a little today and it is a way right now and it's going all over the markets. both the dow and s&p down to session lows because chinese evaluation sparking concerns around the world. the dow jones industrial average now down to 32 points. the s&p 500 is down 1.1% right now and trading at 2080. the automakers among those companies that rely on exports to china have taken a hit today. 3.3% at 3088s down and four down 2% at 1467. tiffany and apple are down as well on tuesday. apple shares are down 4% and tiffany down 2.3% at 93.38. all this coming on the heels of that china currency move. let us move to oil right now. it is at its lowest level in five months. iranian production pushing opec supplies higher. nymex crude is down 3.8%. taking a look at the chart there from march of 2015. right now, down about 14%. brent crude is also down on this tuesday. a lot of concerns about china. markets, andrging currencies all feeling it today because of that action could betty. betty: oil is i

militantly andot for mark crumpton today.aking a look at the markets today, much better -- and i'm matt miller in for mark crumpton today. taking a look at the market today, much better. dow, ifint game in the that does not hold then something really happens -- something that really happens. the s&p and the nasdaq also gaining by more than 1% stop -- 1%. i keep getting notes from analysts, oh, the fair market is coming. have a 5% drop this year and it would be the only year in all of history that we have not had a 5% drop. but when you get deals like , that gives people confidence in the market. , buthire is down slightly precision castparts is up. that is the premium they offered for the company. is that too expensive? lasttock is down after month. berkshire is making a hold after one year. betty: ok, oil prices. a rebound here. over the $50 per barrel mark. oil prices in ebay market down 22% since the beginning of march. -- $44 foror a back a barrel of crude. the 10 year yield of 2.23%. and finally in currency you've seen t

i'm matt miller with mark crumpton. mark: julie hyman has a look at the markets. a difference a day makes, lots of green today. sellingfter all of the we had, we are seeing some buying today. it has abated to some extent, but as the session has gone on, one of the differences i wanted to point out between the selling and buying red and green is that the volume numbers are different. in other words, over the past couple of sessions, we've seen volumes in the major averages that double or even triple the 10 day, the 100 day average volume. today we're up about 60% in the s&p 500 in terms of that 100 day average volume number. we are seeing less volume, at least on a relative basis on the upside than we did on the downside. also we are looking at this bank of america, merrill lynch index. this is where we were yesterday. reaching the highest we've been since 2012. in that cross asset volatility, we talked a lot about the fix -- the vix, but really it was across assets. we look at the advance today on the back of that exhaustive volume on the downside. in the back of

mark crumpton and i will be back in two.ithout julie. ♪ donald trump continues to dominate the field of republican candidates for president. in the latest bloomberg politics national poll, trump was backed by 21% of registered voters who identify as republican, followed by former florida governor jeb bush at 10% and current wisconsin governor scott walker arkansas governor mike huckabee at 7%, and florida senator marco rubio at 6%. allow onstages to the 10 candidates who fair the best in the national polls. poll, theomberg undecided -- rand paul, ben carson, chris christie, ted cruz, and john kasich would make the cut alongside the new yorker donald trump. think mr. trump will be in the debate. i do not think he cares to -- matt: will make the cut, we are saying. mark: i find this interesting. if you are in announced candidate for the presidency of the united states, i don't think it should matter if you get 1% of the vote. if you have campaign staff, people on the ground, you should in the debates. why silence a vote becaus

i am mark crumpton.provides tools for authors to design and print and distribute their books with more flexibility and lower cost than traditional publishing, and the ceo describes how the company has progressed from small to big. eileen: blurb is a self-publishing platform that allows anyone with five dollars and access to a browser to be published. i am a photographer and worked for kodak for many years, so i asked to have a photograph taken, and i thought i could spend the rest of my life custom printing, or i could make a book. can that be? the more i looked at the publishing industry model coming from the technology and web and of it, i've got this is crazy. c's forers are like v. everys, and we met in coffeehouse, and we thought how can we build a tool that is free that allows people to lay out their book and design their books through printing, through shipping, through distribution, and we went out and raised a couple million dollars to get the party started. we got lucky. 2006, and that was when

i'm mark crumpton here with olivia sterns.livia: a little bit of a relief rally, but stocks are off session highs. the dow of 240 points. or 1.5%.f 28 point in the nasdaq up the most, of by 2.3%. seeing treasury yields of for the first time in five days. , 10 basisyear points. also, we want to show you what is happening in the commodities rockets. in thel is catching -- commodities markets. even oil is catching a bid. trading at 1.7%. -- up 1.7%. mark: let's take a look at the stories we're following this hour. olivia: china says the benchmark rate will be cut to 4.6%. the one-year rate for deposits will fall by a similar margin, three quarters of 1%. jason: china does not seem to be compounding some of the policy missed takes and i would argue their embrace of the stock market was a policy mistake. to the extent to which they are making good policy decisions now, it perhaps brings september back on the table. olivia: the chinese central bank has increased the amount of money available by reducing the minimum banks are require

i'm betty liu here with mark crumpton. mark: going to julie hyman with a look at the market.ie: analysts call seems to be pushing the stock for which they affect. looking at gopro. starting with yahoo!. i have my order screwed up. yahoo! up by 6%. the stock upgraded to outperform. he looks in the list, at the some of the parts in valuation. when you look at yahoo!, yahoo! japan, alibaba, it adds up to 32 dollars per share all of that adding into the existing business. $56 overall is the price target that bernstein gets to. also says alibaba deeply under valued, which is interesting. take a look at the bloomberg terminal. we certainly have seen a big turnaround in alibaba stock as it has fallen from the ipo. falling from the peak after the ipo. yahoo! has tracked closely with alibaba. they are saying investors not taking into account the alibaba and the power it brings potentially to the table. moving on in terms of the other analysts call, now talking gopro. gopro initiated with an cowen.form at: -- ho not only for sports enthusiasts that families. looking at leadership where

i am betty liu with mark crumpton. mark: let's go to ramy inocencio who has a look at the markets.tarting with the team of the week, media stocks got a beat down this week. ramy: that's right. media and tech is what i'm talking about. first off media. cablevision earnings came out earlier and the stock is now down 6.6%. the weird thing is revenue matched what they expected and subscriber numbers were better than expected. second-quarter revenue was 1.65 billion dollars, that was a match. second quarter consumer data high-speed net adds were better than expected. but cablevision says it will see higher capital expenditures toward the second half of the year, and that is where the stock is taking a hit. i also want to move to buy a calm. going the other way, higher after an analyst rating. now up by 2.25%. barclays upgraded the stock two notches from underweight to overweight. the price target is down from $56 to $67. currently, shares are pricing in a decline worse than newspapers which is unrealistic. they could use the support. the stock is down year to date by nearly 40%. moving

i want to bring in mark crumpton on this. if you look back from 1999 to now, how he has change the narrative of how politics and big finance in this country, how they are both covered. heshone a light on it but made it palatable to everyday people because it wasn't in the weeds. this is what is going on. by the way, i think you may have made an appearance one time on jon stewart. he likes to take clips sometimes on the financial -- mark: some of us have been on john oliver who is picking up the mantle. stewart, andjon set thehem, bill maher bar on politics in this country but they did it in a way that made people sit up and take attention, whether you agree with them or not. a sad state of our industry, i hate to say, some people go to "the daily show" to get their news because that was the only place they could get some truth. mark: can you blame them? betty: no. jon not only attacked wall street, but a lot of big companies. one of them was arby's. they bore the brunt of his attacks on the fast food industry. here is a part o

good afternoon, i'm mark crumpton, here with scarlet fu.uan continues to ripple throughout the market. this is the ninth drop in 10 days for the dow. noticeable for the trend over the last 10 days. the s&p 500 fallingit

mark: i am mark crumpton. betty: welcome back. mark: thank you. let's start with china. today and it is a way right now and it's going all over the markets. both the dow and

mark: i'm mark crumpton. welcome back to "bloomberg market day."he nasdaq 100 to its biggest decline in a month, emerging-market equities and currencies falling. the markets and investors are weighing the possibility of an interest rate increase next month. let's take a look at the boards. look at the s&p 500 index. it is down a full percent this afternoon. it's lower now with stocks down fourth day in five sessions. we are also seeing big declines on this thursday in viacom and 21st century fox. viacom falling the most in almost seven years after posting third-quarter sales that missed estimates. fox's earnings also fell. domestic advertising down, and we are seeing that spill over to cbs, disney, and discovery. discover is up, 1.25%. lowest level in more than four months in new york. u.s. government data shows crude stockpiles remain above the 90 million barrel mark. that is the five-year seasonal average. goldman sachs predicting an extended glut and global curde. -- crude. betty: we are seeing gains in the longer term and of the yield curve. th

corey: i'm trying to picture mark crumpton on a ride in a suit and tie.hey are re-creating the bar? corey: yes but i don't know if they will have real alcohol. one of the big hits it universal on the harry potter park is the butter beer they drink in the harry potter books. there is a nonalcoholic beer. i think this is clearly a reaction to universal. disney is a behemoth. we will see if this is a success. we bet it will be. mark: i will see you at the bar. cory johnson from san francisco. up on the bloomberg market day, history is made on the shores of lake michigan as jason day wins the pga championship in record-breaking fashion. betty: it was not an easy journey for him to the top of the golf world. his hard-working story is next. -- his heartbreaking story is next. ♪ betty: after a string of near misses, jason dakin finally call himself a major pga championship. par setting ar new record for the lowest score ever in a golf major. mark: it has not been an easy road for jason day. we look at this weekend's championship. talk to us about some of the cha

i am matt miller with mark crumpton.ie hyman for the big stories of the market day so far. i guess volatility has been the story for the nasdaq. julie: we have been talking a lot about that. the nasdaq is green was again. i want to talk about the big market stories of the day and of the week. it has been quite a week for the major averages. you can cbs a be and dow are still negative -- you can see the s&p and the dow are negative. take a look at the sector moves. i want to talk about how they have done as well. what we're seeing today has mirrored the move we've seen this week. energy is the top performing group today and utilities are the worst performing group today. that is what we have seen for the week as well. take a look. you can see the energy index up more than 4%, it's best week since about february. utilities down 5.5 percent, sharp losses for that group. when you look at the underlying drivers, you can see what has been going on. oil prices have had a big week for the week come up nearly 12%. that is the big

i am mark crumpton with scarlet fu.myet: we had over to with a look at the biggest losers and winners in the s&p 500. ramy: not doing very well. to individual stocks, not having a great day, falling deeper into the red. 5%, a couple of minutes ago was 4.5% down. this is at session lows guys. this after ubs says they are seeking lackluster interest in the apple watch. they are estimating apple will sell about 20 million watches in the next fiscal year for 2016. apple has said it sold more watches that ipads in their first nine weeks. let's dig a little deeper into apple's fault. this is the gpo function. you are looking at the 200 day moving average. if you look all the way to the right, apple broke low that on august 3, try to push through that yesterday. just couldn't do it. as you can see, we're not turning back lower. the last time apple broke the 200 though was back in september of 2013. looking at commodity producers, they are getting hit by china's currency devaluation. red,ort trading in the plunging down about 1

joining me is mark crumpton to talk about this exciting story. mark coleman it is interesting.about this in the spring in april. you will look at that, and obviously, he hit it on the head. at some point, as we were to the yesterday person that covers markets, this has been in the markets for a while. it seemed like a perfect storm. first, it was oil. the price of oil was falling. all of a sudden, with what is going on with china with the devaluation of the yuan, and the central bank of china deciding to cut that key interest rates, markets are taking a hit, and he saw something coming. paulson-like call. he is dividing these hedge funds are telling them how to make their bets. it is cool that he made this call two days from the market high. when emerging market had hit, especially in asia, their highs, he made this call. my favorite part of the story is that he does all of this from deal,fice in colorado. i would work ski patrol after making a deal like that. mark will stay with before our next guest, doug bower, the ceo of try point group, one of the biggest home-building com

mark crumpton with me.eread, there is huge deal in the drug sector, this time shire was to be fat -- wants to beef up acquiring baxalta stay with me. . ♪ betty: welcome back to "bloomberg target date." -- "bloomberg market day." i am betty liu betty liu. after posting second-quarter profit that beat wall street says itions, the number added more members in government insurance programs. agree to bitetna humana with expands -- with plans to expand. on "bloomberg be market day." c narrowedvs their forecast in the secondwed quarter. then you forecast overshadowed the second quarter profit report, excluding one-time items and earnings came in two cents above the average of analysts. the company is dropping tries his erectile dysfunction medication from the coverage for drug insurance benefits. before genericrs competition kicks in starting january 1. instead andcoverage they will continue to cover viagra and cialis in 2016. now you know. that is a look at the top stories at this hour. as we have been reporting,

bloomberg world not quarters in new york, i am mark crumpton, here with scarlet fu. quiet monday afternoon. modest gains with the dow and nasdaq you much at session highs come up on when you look at volume, down by at least 20% for the three annexes compared to the 10-day average. all you need to say, really. things are drifting along here as we continue through the summer. what is interesting is in treasuries, treasuries are rising for the first time in four days, sending yields on 10-year notes down on four basis points. treasuriesorm across in that you have that rally going. commodities continue to come under pressure. euro -- little changed against the dollar. dollars slightly firmer against the yen. mark: now let's look at the top stories we are following this summer. the federal reserve bank of dallas is getting a new president and ceo next month. robert stephen kaplan succeeds richard fisher, who retired from the dallas fed in march. at harvard professor business school before joining harvard in 2006. he is vice chairman of the goldman sachs group. kaplan will

good afternoon, i am mark crumpton. we made it through friday.ventful week, to sing the least. you look at the markets, it is us if nothing has happened. is an eventful week, and

joining me now is mark crumpton. mark: i am glad you and i did not speak about this beforehand.hat is the only thing i have to say r. betty: it is hard to feel sorry for him. he is living the dream. mark: are the employees not happy? this deal asail in well, i believe but it is interesting because couple of weeks ago we interviewed the ceo of gravity entertainment who had employeesof his $75,000, because you do not get much more happier after that. money does not buy happiness. mark: it is something that our parents told us, something we learned at an younger age, but it is true. thenssion one minutes, and wonderful the next minute, there's something going on in do not understand. is a very fortunate man and a very blessed man to be able to have that much money. you are doing pretty well, sir, that is all i have to say. betty: their articles about him and his quirky personality and how he is an introvert. i cannot imagine anything worse uck partying. and what to do whatever i want, and i never felt so isolated. i hate play amateur psychologist, but i'm just wondering why. you do

mark: i am mark crumpton. thank you for joining us on bloomberg market day. concerns globally, the ripple effects about china and what the country is doing to its currency, the evaluating -- d valley w

i'm mark crumpton here with scarlet fu. scarlet: we are united -- reunited. mark: yes, reunited.carlet: we are looking at declined, but modest income bears and with what we thought the start of last week. the s&p losing 6/10 of 1%. if you look at the sector breakdown, nine factors are down . let's move on to currency prices because as with all month long, you a stronger euro and stronger dollar. the euro yen at 13604, unchanged. -- when 36.04, unchanged. this is the 10 year right now. a two-year is higher for a fifth the 10 year is up marginally at 2.19%. oil is a big mover this afternoon. it staged a dramatic turnaround at about 11 a.m. or so. after opec said it was ready to talk to other producers to achieve "fair prices," whatever that means. alex will be a long later to talk about it. news we have some breaking at this hour from cisco about a new partnership with apple. cory johnson is here with details. cory: this is a major partnership between cisco and apple. ceo rightthe apple there with john chambers. it's a really close partnership and very interesting. they've been wor

this is mark crumpton here with olivia sterns. >> what a turbulent day has been -- a selloff across the if we are off the lows of the session. julie: turbulence indeed. we are seeing stocks move back down a little bit with a loss of 2% across the board. we saw them make a run at recovery and then fail at that. let's look at the s&p 500 to get an idea of what we have seen. we saw it fall as much as about 5.25%. now it's turning back lower. person that bloomberg crunched the numbers and found the last time we saw an intraday swing of this type of magnitude from a loss inta

good afternoon, i am mark crumpton. we made it through friday. scarlet: it has an eventful week, to sing the least. you look at the markets, it is us if nothing has happened. is an eventful week, and a calm and. end.n -- .he 30 year yield coming down to takeaway, here in the bloomberg terminal. you comes in relative to what economists were looking for. data is topping estimates. 2015u look at the timeframe, like the overall economy's performance we had sluggish that has given away to improvement. i havene of the things on my terminal, a gold charge. it is the haven that has come back because of what is inpening with the evaluation china. people are looking for a safe lace to park their money. we are heading to a biggest weekly gain in two months. it had gotten slammed so it finally got a little bit of a pickup. mark: let's look at the charts. gold futures. .ll of the intraday it is falling off a little bit right but given where it has been -- scarlet: doing ok. shares of the food company cisco rising the most in more than a year after an activist

mark crumpton is here with me as well, looking at the story. let's start with you on this. what is going on with this ship? >> the ship is out in brazilian waters, using about 10,000 bottles a day. but the average tequila is not paying anything for this. this is money that should be -- we need to find out why they are defaulted. ship, there was talk about having the ship seized. who would have to prove that before that action was taken? >> this is a catch 22. in theory you can see the vote, the vessel, but in practical terms it is all but impossible. is proficient with several rules abided to by the regulators. he would need to get approval that you can remove this vessel and shut the field. add to that, i am to remove and $100 million but will not hold its weight. the company that has been using this should pay for that. even if you get it and you take it out, what do you do with it? oilcurrent situation in the market is if you try to sell it you're not going to get the value of the collector. that is a catch-22 that the loneliness. betty: we were talking about the demise

this is mark crumpton here with olivia sterns. >> what a turbulent day has been -- a selloff across the board, even if we are off the lows of the session. julie: turbulence indeed. we are seeing stocks move back down a little bit with a loss of 2% across the board. we saw them make a run at recovery and then fail at that. let's look at the s&p 500 to get an idea of what we have seen. we saw it fall as much as about 5.25%. now it's turning back lower. person that bloomberg crunched the numbers and found the last time we saw an intraday swing of this type of magnitude from a loss into a gain was back in 2008. andas down more than 4.5% ended up recovering by 4%. just a little market trivia -- that's when oil below $70 a barrel and bond insurers were trying to submit plans to treasury for a bailout. we have not seen swings like this since that point in time. take a look at the s&p 500 to see where we are on the correction watch. a 10% drop -- right now we are at 9.8%, but as we have seen the volatility throughout the session, we have seen volatility in this measure as well. information tech

i'm mark crumpton here with scarlet fu. scarlet: we are united -- reunited. mark: yes, reunited. looking at declined, but modest income bears and with what we thought the start of last week. the s&p losing 6/10 of 1%. if you look at the sector breakdown, nine factors are down

we spoke about it earlier with mark crumpton.tems from it earnings, and a lot stems from what we have seen across the market, a correction. all time highs, the stock market has been resilient. media companies have been one of the biggest winners. a lot of times, people think about the bull market, they think about tech and health care, because those sectors have done well. they have a lot of market cap, but when you look at the winners, media has been up 500% as of monday. we talk about hedge funds investing. give us some names. >> valueact is one. they have a 5% stake in fox b shares. fundlso have a pulsing or that also has a stake. basically, you have some funds that are looking to take advantage of what seems to be quite a bit of merger speculation. you also have a lot of hedge funds, about 20% of ownership in time warner is hedge funds. there is a pending transaction, so you can play that spread. a bigst because it is in company does not mean that in my not have been somewhere else in the sector. --there is any kind of song c

with me now is my colleague, mark crumpton. this is the trend these days among the millenial's. it's interesting because it puts them in a position to pick or choose where they want to work. do you want to be a contract player or do you want to be summit he who is independent? -- be somebody who is independent? for the younger generation, they are always looking for a better opportunity, so they don't want to lock themselves into working for one company are one job. the concept of loyalty is probably out the window, but at some point, look at it as a free agent athlete. you are going to go to the highest bidder for your talents and services. betty: i thought what was fascinating were some of the quote they gathered from people who chose this path. they set i saw my parents get let go from companies, saw my companiesho worked at for 20 or 30 year -- i saw my parents who worked at companies for 20 or 30 years. i would rather create my own job than work at one company for the rest of my life. among my peers, that was starting to happen and now millenials have that flexibility. mark:

mark crumpton joins us now with more. you like tesla. [laughter] mark: ok.his is all about the model three. it will come out in 2017. they need the money. elon musk says this is about expansion. and he did mention earlier this year, you know, there will be a period were tesla might not be profitable because they have these plans -- they are expecting big plans, but matt miller, who has covered tesla extensively, tells us that one of the problems is that a lot of people says you need a charging station for these cars. and there was an announcement or some news that tesla will be putting more charging stations in manhattan because this area is filled with people who live by a tesla. mark: the battery production in developing new models, that is going to take aliens and billions of dollars. and that money is going to have to come from somewhere. so i believe that mr. muska right now is making a bet there will be a market for these cars. but as long as people say, the mindset is, ok, i want to drive one of these cars. but when i am on -- but when i am 100 miles

good afternoon, i'm mark crumpton, here with scarlet fu. evaluationina's yuan continues to ripple throughout the market. this is the ninth drop in 10 days for the dow. noticeable for the trend over the last 10 days. the s&p 500 falling to its 200 day moving average. -- stockc hundred and stocks aerging-market big loser as well. let's go to treasuries. slowing devaluation inflation globally. the odds of a september interest rate increase have gone down to 48% -- 40%. the fed is really going to delay in interest rate increase, the u.s. dollar gets less love. the dollar index by 1%. commodities up across the board. crude rebounding from a six-year low. on the safe a bid haven play. mark: numbers all over the place. let's take a look at the top stories we are following at this hour. shares of alibaba sharply lower today after its quarterly revenue missed estimates. the company's transaction volumes fell short of targets and quarterly sales rose at the slowest pace in three years. some analysts say rising compensation costs are hurting alibaba.

mark: good day from bloomberg world headquarters in new york, i am mark crumpton, here with scarlet fu. a lot of red on the screen again. scarlet: a selloff in commodities weighing on other risky assets such as stocks. now industrials adding a emerging-market stocks falling at a four-year low. lira falling to a record low. the shanghai composite down 6% overnight. here is perspective on the e.anghai compositio mid-june to early july, the index has stabilized. downe narrowly going listing well with net range right now. we are looking at one bright spot, homebuilders up for a second day. housing starts rose more than expected. we had encouraging homebuilder confidence index news yesterday. it's commodities that are the root of the weakness with copper falling and the bloomberg commodities index also stuck at a 13 year low. oil rebounding just a little bit. low: rising from a six-year at this point, projections that the u.s. might have some supply gain following that as well. let's look at the other top stories we are following at this hour. greece is selling the rights to 14 regional rep

mark: good day from bloomberg world headquarters in new york, i am mark crumpton, here with scarlet futhe screen again. scarlet: a selloff in commodities weighing on other risky assets such as stocks. now industrials adding a emerging-market stocks falling at a four-year low. li turkish

i'm mark crumpton. let's go straight to your top headlines at this hour.retary of state john kerry is meeting gulf foreign minister today trying to provide assurances the u.s. commitment to the region is not wavering after last month's landmark nuclear agreement with iran. clear thekerry: it's nations agree the partnership we share is indispensable to the security of this region. mark: secretary kerry is in qatar after a trip to egypt after he restarted security talks after six years. officials in iran are going on a shopping spree for airplanes. 300goal is to buy about airplanes to replace the country's aging fleet. the nuclear deal with the west another power slips a ban preventing such purchases. the planes will be purchased in equal numbers from boeing and airbus. while presidential hopefuls are not opposed to $50 campaign contributions, they prefer those of the seven-figure variety. according to the associated dress, a tiny group of millionaires and billionaires capable of such donations is asserting itself in campaign 2016. nearly 60 donations of a m

i'm mark crumpton. let's get straight to a check of the markets. julie hyman is standing by.o the lows on the session on the major averages on this newly volatile environment. rising.he nasdaq the s&p almost to that level. now againstdropping the lows of the session. bloombergk at my terminal. you see a little more red on the screen than we did earlier. utilities and health care helping lead declines. we have seen yields higher. that spells bad news for utilities. energy continuing to climb and it has been a standout for the week. this has -- as oil prices are rising. .nd the energy index that is the best week since february. oil has had a very strong week. the best since 2011. the best today gain since 2009. not sure if we have that oil chart that is again we have seen in oil for the week. risingtion to oil prices and driving some energy stocks higher if you kick a look at some of those energy movers on the week we have chesapeake marathon, transocean. these are the intraday gains we have seen as that in rising along with oil rices. these are some of the worst performers and

betty liu and mark crumpton spoke with matthew perry, a senior oil analyst with the iaea.it this incredibly oversupplied market. the previous history has taken us to the stage where very strong supply growth and until growthy, relative to men has left us with a massive surplus. to put this in perspective, this is the biggest surplus since 1998 when the oil price was just $10. we have a huge excess supply, and it will take quite some time before this is equated. we think the second half of next .ear betty: is there a brighter side for those who are bullish on the oil price? oilumption, as you see prices fall -- consumption is growing. in fact, you have seen a doubling of consumption growth rates so that perhaps by the end of next year, we might be at this peak in terms of the glut, and we will start to work our way through the inventory, and prices will start to go up? matthew: you are completely right. market forces start to take effect. whenever thought it would take quite this much, but the oil and thatve to halve, has stimulated very strong demand growth, and it is supp

militantly andot for mark crumpton today.

joining me to discuss the story is mark crumpton.an described as the walter cronkite of latino american news anchors. that may do him a disservice, he is one of the best journalists in the world. he has a following in the latin community because of his work on univision, but i was struck when i saw that video. the same timeout the other person did and started to ask his question. but i'm thinking, it is in the best tradition of that adversarial, aggressive press that we have in the u.s. -- thinking about edward r morrow, dan rather. jorge ramos had a question and wanted to ask the question. be it far from me to tell him or mr. trump how to conduct a q&a, but i was thinking, maybe just the situation down -- sir, i called on this gentleman. hisoon as he has done question, i will go to you. matt: i have been to a lot of press conferences like this and so have you. there is to delete an orderly fashion in which the subject will call on people. but the last person you want to anger is the most important latino american journalist in this

im mark crumpton here with scarlet fu. scarlet: u.s. stocks resuming their decline, the dow did not rebound yesterday. a sixth straight day, the longest losing streak since mid-october. , disneyocks leading down again. look at treasuries. as stocks fall, treasuries are getting a bit higher. prices mean lower yields. you can see there is the 10 year yield. raising concern about disinflation, leading to questions of whether the federal reserve will and can raise interest rates come september. let's move on to the energy complex. nymex off by 1.6%. gold slightly higher. copper also lower. come inside my bloomberg terminal. i want to show you the breakdown of commodity returns today. soft commodities leading the decline. gotten down by more than 2%. if you change the time period to five days, you can see the damage that has been done over the last couple of days. out of 26 commodities, only five are positive. gold is barely so, hanging onto a gain of 1/10 of 1%. mark is a big winner, up by almost 7%. meanwhile the gasoline, the energy compl

mark crumpton joining me with more analysis. are you giving jamie dimon hard time?e a campaign issue because you have the whole pay inequity thing going on in the united states and when mrs. clinton gave that speech at nyu star in school about one month or so ago, she was making the case that the workers are now probably making what the manager about 300 times what their workers wait -- workers may, so abundant contention but not unfamiliar overseas and in london because a lot of the managers make a ton of money. betty: they do. that we have both looked into was saying that the regulations in europe are very --ferent and it is more there is more flexibility in giving just cash salaries. mark: but they want the managers, the ceos tap a vested interest in the company because it is a sign of confidence in the company, a sign of shareholders that i literally have a stake in this, too, so i will not take it so much in cash but i will take it in shares of the company or some other form of compensation that is tied to performance. betty: there is a flip side. those who are

earlier, mark crumpton and i float to a former bank of england policy member. >> the number is obviouslyuite a weakness. we should put it together with the other set of data that came out on inflation. 11 european countries in deflation. finland has just g.o.p. into de-playstation. t looks like tess -- looks like it is going to be four years in a row. the european central bank said they thought things are going ok in the european union. but there were major risks to the down side. now we have risks to the down side from china, risks within europe, dow jones unemployment. so this really dark double-digit unemployment. this looks like the plans to keep the eurozone economy going on steadily are actually failing. we may well see more boost. they are talking about we are ready to intervene and use all the weapons we need to. so a slowing european economy probably not that great for the dollar. betty:ening of the radar, but what impact will this have on fed policy. janet yellen and her cohorts are focusing somewhat on what is going on internationally. they recognize what is going on overseas

tom: john stewart next to mark crumpton in a museum? scary thought. it is amazing. early monthsll the of the daily show, but one day it was iconic. brendan: i remember when it was craig kilborn. it was snarky, it was more about pop-culture. tom: what did mr. stewart do? brendan: he was the first anchor to look at what was happening in politics and find it absurd and admit that he founde it absurd. tom: watch his hands. when he is on air, what he does physically, like a comedian. brendan: the other thing he does let you talk about a lot as he purposely throws out a joke that he knows will not land so he can make the recovery funny. he is amazing. vonnie: he's on a whole franchise of comedians. brendan: absolutely. fascinating, jon stewart, particularly after david letterman where they get carted off the set. special coverage at 7:00 a.m., the markets and churning, euro weaker, but commodities is the 82 on american west texas intermediate, right now buttressing off of weaker lows. our guest will be defending gold -- that is a tough defense. this screen is for mark car

crumpton and mark .loomberg sports reporter mason how surprising is this decision?sing. i spoke to a bunch of lawyers and they really expected with the board changing hands and some overturning figures on the board, they expected it to go the other way. it is a landmark decision. they really did not do everything they could have. they decided that northwestern cannot form a union. what they did not discuss is whether college athletes can be considered employees. they basically punted that and decided not to roll on that -- rule on that. the landscape is changing in college sports. this leaves open the possibility of a group of schools getting together to try to do this at some point -- betty: on their own? later on.form a union they did not want to go in the face of any legal decisions. there are so many court cases out there involving college players. mark: this is not just about money, that is what the folks who want to form the union say. it was basically about this is a right to work country and they feel they should be represented. mason: they want to be compen