visa and mastercard. i believe the consumer is in great shape. i think you have more room to fly there. i'm long square, different side of the business. but i think it's going to be good for any of these companies. they need exposure to square up 93% year to date. >> unless you're jpmorgan and you want to have a paypal relationship >> why buy the cow >> when you get the milk for free or almost free. >> the payment space is a really exciting place to be capital one looks like that was good, although this is a different bet. capital one, you have credit risk, which is a very different bet than mastercard, which i own. visa, those are very, very similar. we see it everywhere there are stores now that don't take cash in new york city it's so that trend is happening for sure i don't know how it gets in the short-term it's been a phenomenal business. if you want more overseas exposure, visa is the way to go. >> operating margins, 68% that's extraordinary this is story we've talked about i think for as long as we've had this show's been in existence. as

the rules are very vague and it appears visa and mastercard will not be permitted into china. china's union pay has been issuing credit cards and the chinese are increasingly intransigent. gerri: the president is bragging about getting u.s. beef into china. but maybe the same thing will happen again. they will walk it back. >> here is another failure of u.s. trade policy. the chinese had an obligation to allow u.s. beef in years ago. what we saw is the chinese said we'll allow beef in and that's fine. they are honoring their promises, but they also gained another promise which is to allow chinese cooked chicken into the u.s. that's a new partr promise on our part. gerri: we don't make them label it either. so you don't know what you are buying half the time. it's very frustrating. >> the chinese don't buy their own chicken because they know how bad it is, so they buy foreign chicken whenever they can. but they are allowing it into the united states. you look at what will happen with the commercial secretary's plan. this is a disaster from the american perspective. gerri: one o

mastercard has a program in nigeria where you have 100,000 small traders using qr codes through theirem will be in large part taste on the china is systems. india is hopping on board, so growth will be huge. rishaad: how far away are we from a cashless society? >> it depends on where you are. in china, it may feel like you are in one. i was just up there. as i noted in the piece, i was seeing subway buskers excepting qr codes. coins in have to carry your pocket, just scan your phone. rishaad: amazing stuff. thank you for that. a quick look at what is going on market wise. just under half an hour of trading in hong kong. prices, look at these there we go, hang seng flat, shanghai composite as ever ucking the trend. .2%.okyo market off by a little tepid with event risks behind coming out putting their feet up. where next for asia central banks? that's coming up in about 10 minutes from now. this is "bloomberg markets: asia." this is bloomberg. ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: mohammad javad zarif is here. he has served as iran's minister o

winner: plastic-versus-cash battle heats up after visa, mastercard deals . . .lar bill, mastercard deals after visa, battle heats up versus-cash winner: plastic- years. winner: plastic-versus-cash battle heats up after visa, mastercard deals . . . the dollar bill, that long-time rival of credit-card giants, is under attack once again. after years of fighting to get their cards accepted in stores, visa and mastercard are stepping up efforts to get merchants and consumers to move to a cashless world. the idea is simple and potentially very profitable: get people to use their credit cards rather than cash for more purchases -- and, eventually, all transactions. in that future, card networks and other electronic payment systems would essentially get a slice of every transaction. visa and mastercard already have made big inroads in expanding credit-card usage. they handled $4.3 trillion in payments in the u.s. last year, more than double from a decade ago. still, the amount of currency in circulation also has doubled in that period, and cash remains the most widely u

among the big names to watch comcast, conocophillips, mastercard, twitter, u.p.s. and verizon. the close, amazon, intel, starbucks and mattel >> among the biggest names to watch, facebook. shares rising on better than expected results julia boorstin has more. good morning to you. >> with over 2 billion active monthly users, facebook surprise the with user and advertising numbers. revenue grew 45% to 9.32 billion, with earnings growing 69% to $1.32 per share that was 19 cents higher than analysts expected. i spoke to cheryl sand derg abo sandberg about what drove those results. she pointed to instagram and is pleased can the success. >> people are using our processes to connect and provide community on mobile phones we also have 15 million businesses using business profiles on instagram. that joins our 0 million business pages on facebook those are places where people are connecting with each other but also businesses are connecting with the consumer >>> on the earnings call last night, mark zuckerberg reported on what will eventually drive the next leg of growth >> we're also w

remember when visa, mastercard, google were supposed to be destroyed by paypal? paypal has now partnered with switzerland. way to go, ceo dan shulman it doesn't hurt that the bank stocks fell off a little last friday when you really come into earnings, no matter what number tends to get hit maybe this takes the sting out seventh, the cloud and artificial stocks all rallied, making the tech move pretty darn braced this is nice leadership. doesn't hurt, of course, to have nvidia rocking the house either. what a horse nvidia is or actually i renamed my -- nvidia invites any short sellers. auto desk, red hat, sales force, oracle and workday as go-to performers we should go to the pound and name all the dogs those. eight, a big drag on retailers are starting to mount a comeback i like the fact that home depot is ramping same with walmart, which i think didn't deserve to sell down that hard nine, europe is up again we forget how important europe is 777 million people on that continent and it's finally getting back on track. big rallies here in america are often mounted

and here's a good one: this summer, dine out and pay with your mastercard and... ...help support those fight against cancer. one precious cent at a time up to 4 million dollars. because standing up for those who stand up to cancer... ...is priceless. (baby crying) ♪ fly ♪ me to the moon (elegant music) ♪ and let me play (bell rings) >>> the president of the united states. [ applause ] >> when he comes to office, a few democrats say fix welfare first. but bill clinton want to do health care first. you can say that the search for health care reform is the holy grail. >> for 60 years this country has tried to reform health care. president truman tried. president knicks on to tried. president carter tried. every time the special interests were powerful enough to defeat them. but not this time. [ applause ] >> it was a masterful performance and the president has reengaged the american public on health care and probably will have some success with it. >> if we do not guarantee health insurance to every american, then we have failed all americans. >> hillary clinton was given enormous respons

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. ♪ >> joe: the 88th mlb all-star ar game presented by mastercard.y night, every device. watch every out of market regular-season game live. kimbrel takes over and mrs. hyde to yadier molina. get a free subscription to add that premium. blackout and other restrictions apply. craig kimbrel has been sensational for the red sox. ricky of the year with the atlanta braves. misses high to molina. >> john: you've really got to get lucky as as a hitter againt kimbrel. his velocity and power curveball combination is as good as it gets. weird angle, looks like the ball is coming up hill. >> joe: that's outside. 3-0. the interesting part is, should molina reach, joe maddon really can't use a pinch runner. 1-1 game here in the bottom of the ninth. he reaches here with a walk. you can bring zack cozart back in the game but the only way you can bring a catcher back into the game is because of an injury. molina has to stay out there. he does not run well. he's the winning run at first with nobody out. >> john: we don't see many bunts in baseball and not many in the

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this income is recurring income from this business of global payments, which we all love, visa, mastercardine that business for people, because people don't understand how big it is, what it means, and how it might catch on during this period. >> when you think of payments, you should think of citi citi on the institutional side is the largest mover of money every day in the world >> largers mover of money. what does that mean for people >> when you look at the fortune companies of the world, they're moving money through our proprietary pipes that cross through 160 countries. so when caterpillar decides to move money around the world, they're moving through citi's pipes. we know where themoney is, wha their payables and receivables are, we can help with currency transactions, hold their deposits we can give them the most efficient capital and liquidity structure, can help them move their money. on the other side, that's part of the payments. on the other side, we're the world's largest issuer in credit cards. again, when you think of credit cards, we're not going to be talking about credit

biggest most l luke rah active perks, we found them in the discover it card, barclayscard arrival and mastercard>> what's the tip? >> if you make a credit card purchase, you have to pay that off every single month if you don't, you'll get yourself in real trouble if you're making a big purchase, go ahead and think about -- instead of paying cash, go ahead and use that credit card because there are a lot of credit cards out there that allow you to get a big cacheback bonus for that first spend on that card so if you spend $500, you can get $100 back. if you're buying a dishwasher or refrigerate e that can really save you money. >>> up next on "on the money," look at the news in the week ahead. >>> and socks with startup personality. can she juggle fame, fortune, and footwear introducing olay duo body cleanser. for the never-before-seen two sided clean, just add water. one side deeply exfoliates the other gently smooths and a flexible body cleanser inside lathers for a close, complete clean. just hang your duo to dry after each use, for day-after-day of touchably soft skin. find your duo in the bo

and here's a good one: this summer, dine out and pay with your mastercard and... ...help support thosenst cancer. one precious cent at a time up to 4 million dollars. because standing up for those who stand up to cancer... ...is priceless. theto me than my vacation.tant so when i need to book a hotel, i want someone who makes it easy to find what i want. booking.com gets it. and with their price match, i know i'm getting the best price every time. c'mon, gary! your vacation is very important. that's why booking.com makes finding the right hotel for the right price easy. visit booking.com now to find out why we're booking.yeah! >>> generation x, the 20 somethings, whatever the 46 million young souls are called are turning out to be a hard sell. >> the '90s what we realized is advertisers would pay premiums for college educated young adults, 18 to 49. we started reinventing nbc and trying to speak to that it audience. >> where is someone? i'm starving.t audience. >> where is someone? i'm starving. audience. >> where is someone? i'm starving. >> this is him right here. >> is there a table

and in london, a judge has rejected a consumer groups request to file a class-action suit against mastercardcused of 16 years of unfair charges. this could limit online and electronic payments. and in london, a judge has rejected a britain as a destination for consumer transaction suits. and the e-commerce site will cover 12 cities, including beijing and shanghai. the parent company lvmh is on luxurycapitalize sales in china. they have also been upping their broader digital strategy. that is your latest bloomberg business flash. some of the nation's biggest made $38-- lenders billion last quarter, just shy of the record set in 2007. this comes as regulation is set to be thought that -- that was hurt --to have heard hurt earnings. regulation and banks are making more profits. inthese people who wanted in the first place would say should be the outcome and is the outcome. so why is this confusing? >> banks can claim -- complain a lot about stuff, not just hampering profits but lending, capital markets, people can't access credit, but those numbers have been improving as well. some things are g

now working with mastercard in asia pacific so we just keep coming in terms of the partnerships. think we bring a lot of assets to partners and you'll start to see that continue to play out. >> i'm curious though, since you've been talking with amazon, do they share that sent. that cooperation benefits everyone across the states or do you think they'll go it alone and make their payments footprint a lot bigger >> i can't speak specifically for amazon but i will say in our discussions that we've had with multiple partners, whether it is google or facebook or alibaba, there is a desire to look at what are the assets that each of us bring to the party? how can we combine them together to create innovative, unique consumer experiences taking advantage of what we both bring? and combining our platforms together and that's that seems to be the way that most of the ecosystem is going right now. >> okay. got it let's turn to one of your products, venmo, very strong results yesterday. more than doubled your payment volume for the app in just a year impressive numbers again this is the fre

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and here's a good one: this summer, dine out and pay with your mastercard and... ...help support thosen the fight against cancer. one precious cent at a time up to 4 million dollars. because standing up for those who stand up to cancer... ...is priceless. >>> generation x, the 20 somethings, whatever the 46 million young souls are called are turning out to be a hard sell. >> the '90s what we realized is advertisers would pay premiums for college educated young adults, 18 to 49. we started reinventing nbc and trying to speak to that it audience. >> where is someone? i'm starving. >> this is him right here. >> is there a table ready? >> the chinese restaurant was one of the very, very early episodes of "seinfeld." tr truly nothing happened in the episode. they were wait iing for a table. >> i feel like just walking over there and taking some food off of shb's plate. >> we said to larry david, hey, nothing has. and larry was offended. he was like wildly offended. >> nbc believed in the show so they said we're committing to four episodes. >> yeah, right, four episodes. >> normally it's 1.

mastercard and verizon are both up 25%, very good reports overall for mastercard as well big oil is starting to report, royal dutch shell and conocophillips were better than expected the big story here, capital spending is dropping for conoco. i expect exxon and chevron will probably be telling us why is this happening, because oil is stuck below $50, everyone thought it would be $60 by now again, exxon, chevron, big story tomorrow finally, here we are, folks, we're just about at the halfway. let's not quibble, 48% on the s&p, earnings up 10.7%, earnings up 5%, that's why the markets continue to be up, earnings for the third quarter also still strong and that rally holding in there. back to you. >> should investors fear this seemingly calm and inviting market let's bring in the ceo at hardland financial and the global chief investment strategist at citi private bank. nancy, is the market too perfect to believe the vix is nothing, everyday we have new records, profits are great, interest rates are low and not going much higher in i time soon. it feels too perfect. >> good afternoon, tyler i w

and here's a good one: this summer, dine out and pay with your mastercard and... ...help support thoseprecious cent at a time up to 4 million dollars. because standing up for those who stand up to cancer... ...is priceless. are you happy that you switched? yes - i switched to sprint and their unlimited plan is half what you pay with verizon for a family of four. you could save over $1000 in the first year! that works for me. (vo) unlimited! $22.50 per month per line! for people with hearing loss, don't let a 1% difference cost you twice as much. visit sprintrelay.com. "how to win at business." step one: point decisively with the arm of your glasses. abracadabra. the stage is yours. step two: choose la quinta. the only hotel where you can redeem loyalty points for a free night-instantly and win at business. >>> generation x, the 20 something's, boomerangers, baby busters, whatever these 46 million young souls are called, are turning out to be kind of a hard sell. >> in the '90s, what we realized is advertisers would pay premiums for college educated young adults 18 to 49. we started rei

looked at, and among those cards are the discover it card, the barclay card arrival plus world elite mastercard>> what's your top tip? >> if you make a credit card purchase, you have to pay that off every single month, because if you don't, you'll get yourself in real trouble. if you're making a big purchase, go ahead and think about instead of paying cash, go ahead and use that credit card, because there are a lot of credit cards out there that allow you to get a big cash back bonus for that first spend on that card, so if you spend $500, you can get $150 cash back, and if you're buying a dishwasher, refrigerator, soin really save you money. >> great, matt, thank you for your time today. >> thank you. >>> up next "on the money," a look at the news for the week >>> and stococks with personali. that's the idea for a youtube star. can she juggle fame, fortune, just like the people who own them, every business is different. but every one of those businesses will need legal help whether it be help starting your business, vendor contracts or employment agreements. legalzoom's network of attorneys ca

mastercard orlike british telecom, that depend on us, they realize the value that we have that providesernance and so one for machine learning that amazon doesn't have. amazon -- at how companies are positioned, what are going to be the key business drivers for revenue going forward? these reason why you have analysts making such ratings, the normal size of the opportunity -- the enormous size of the opportunity in front of us. they expect this market will be more than 200 billion u.s. dollars. the reason why the expectation big, two to grow so key trends. the internet of things trends, leading to everything around us being instrumented. lights in the street, even trees and agricultural fields will be instrumented. we are not because of a major evolution, the ai revolution. which is how we are going to use data to replicate the decisions human make. doctors assess and diagnose diseases. the skill us to have better than we have today. was bullish on egypt. you have been an investor in egypt with the startups there. how do you trade the -- treat the egyptian recovery story at the moment?

you're given the choice between paying in the local currency, euros, and then it is exchanged at the mastercardfor me. and then it is up to the shop's bank what rate you get. here, paying in pounds meant the exchange rate was 3.5% worse, not too bad. but in a cafe nearby, i stood to lose 5%. then there are the cash machines. and the rate they want to take off your cashier if you chose the wrong option was nearly 10%. many holiday—makers, like these on a cycling tour, are mystified by the choices when they pay by card. i find it very confusing. i never really sure which one's the right one to choose. we were paying for our hotel room, and we ended up paying quite a significant amount more because of the exchange rate they set up. here's the cost based on the average charge of 6%. uk tourists around the world who choose the wrong option are paying an extra £500 million a year. this tour guide says the shops and restaurants should be warning people about the costs. i find it interesting that the vendors themselves don't actually really know what is going on with their cards. and that, ithink, shou

great, these rules put an end to surcharging on american express and paypal as well as visa and mastercardo so good news for consumers. it costs companies money to process payments, 5p for debit card payments according to figures from last year and 16p for credit cards. up until now some companies have passed significantly higher costs on to consumers. including the dvla which charges £2 50 for each card transaction. 7796 including the dvla which charges £2 50 for each card transaction. 77% of all retail sales in the uk are made using cards. so it is the predominant way to pay and therefore it is quite right that consumers should not be charged for the privilege of paying in the way they wa nt privilege of paying in the way they want to. surcharges will cease but it will be open to friends to recoup the costs they incur by other means. our top story this lunchtime. the bbc reveals the salaries of its highest paid stars after being forced to disclose those on more than £150,000. and still to come. "three weeks to become legends." england's manager has high hopes for the women's football tea

in london, a judge rejected a request to file an $80 billion suit against mastercard. the group accused them of unfair charges. the judge's ruling could limit britain as the location for class-action suits. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries, i am courtney donohoe. this is bloomberg. nejra: thank you. shares of a major german automaker falling after they held the decades of talks on engine technology that breached rules. this is bloomberg. ♪ funny -- vonnie: i am vonnie quinn. nejra: how to your down to the european close. ismany's auto industry reacting to a new report about potential antitrust collusion, volkswagen and bmw and daimler shares tumbling. decades of talks among the companies that make a breached car rules. joining us now to discuss at the significance of the report's managing editor of global business for bloomberg news. benedict, give us more detail, and in response from the cartel? >> a bit of a bombshell that dropped and the shares are quite -- are off quite sharply, bmw, dialer an

your hands on mine♪ ♪the clock is ticking,♪ ♪ >> joe: the 88th mlb all-star ar game presented by mastercardht, every device. watch every out of market kimbrel takes over and mrs. hyde to yadier molina. get a free subscription to add that premium. blackout and other restrictions apply. craig kimbrel has been sensational for the red sox. ricky of the year with the atlanta braves. misses high to molina. >> john: you've really got to get lucky as as a hitter agat kimbrel. his velocity and power curveball combination is as good as it gets. weird angle, looks like the ball is coming up hill. >> joe: that's outside. 3-0. the interesting part is, should molina reach, joe can't use a pinch runner. 1-1 game here in the bottom of the ninth. he reaches here with a walk. you can bring zack cozart back in the game but the only way you can bring a catcher back into the game is because of an injury. molina has to stay out there. he does not run well. he's the winning run at first with nobody out. >> john: we don't see many bunts in baseball and not many in the all-star game. i wonder if this is one of thos

my kids don't know what mastercard and visa.express, they leave home without the constant. >> a lot of people are venmow now. >> it is incredible. i said it was fine. not something to worry about. i have to do all of dan's pr work because he refuses to do any himself. i am telling you he is an unsung hero of this business which is payments process. i hear music which may mean we have to go. i would like to say we are going to sell bonds until quarter to 3:00. >>> and we will have a lot more g t is moving this morning when weethe opening bell a few minutes from now. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. >>> you're watching cnbc's "squawk on the street" live from the fina

they have continually written off this payment company as road kill under the tires of visa and mastercardas well as major banks and titans like google and amazon yet instead of being enemies, they've become more like frenemies. two payment processing companies many of you have never heard of and are doing quite well but paypal is seen as the ultimate winner because it's so beloved by a word everybody is tiring of, millennials it's the fastest grower in the industry one of the reasons why the stock trades at 29 times earnings, it's a rapid adoption of paypal's core product. can the stock go higher? a lot of people think paypal is plateauing here, i think they're wrong. after today's rally, it might pull back before it has its next leg up but i like it. and consider the erratic run of the next best performer among the tech stocks. you can just read my mind, right? you know what i'm talking about. the one i named my dog after, nvidia i've been a huge supporter of this stock, but even i disputed the last ascent. my fear now is more about missing the next leg up than being obliterated by the n

big companies like mastercard or british telecom, that depend on us, they realize the value that we haveatures like security, governance and so one for machine learning that amazon doesn't have. be the what are going to key business drivers for revenue going forward? >> i think the reason why you have these analysts making such ratings, the enormous size of the opportunity in front of us. if you look at the reports and -- they expect this market will be more than 200 billion u.s. dollars. the reason why the expectation is for this market to grow so big, two key trends. the first one is the internet of things trends, which is leading to everything around us being instrumented. lights in the street, even trees and agricultural fields will be instrumented. that is leading to massive amounts of data. second, we are on the cusp of a major evolution, which is the ai revolution. which is how we are going to use data to replicate the decisions humans make. replicate how lawyers review legal documents, replicate how doctors assess and diagnose diseases. that allow us to have the skill better than

mastercard posted record revenues. companyic payment handles most nonmonetary payroll.ing a faster system for u.s. payment. barclays accidentally shared client information in february of this year. according to people familiar with the metal -- with the matter, they blamed human error. they deleted the data. surging in that turns the hamsters -- and have turned the hamptons into a seller's market. 7.4%.ty rose that was driven by sales of homes costing $5 million or more. and that is your latest bloomberg business flash. breaking news, bill ackman set to be building a stake in automatic data processing. bill ackman a pershing square, known to have 10 or 11 positions , simply building a stake in automatic data. processing. we will tell you more when we get it. a new ridesharing game in town. chariot is expanding to new york city. the company thinks it can fixed -- the company thinks it can fix the city's congestion problem. and jeff bezos -- and ceo -- and amazon ceo jeff pesos is the richest man in the world. this is bloomberg. ♪ ♪ vonnie: this is "bloomberg markets." i'

. >> any read through either visa or mastercard? >> they're trying to get off that train i thought they just don't want to be there. i think that they really kind of want to do the loaning look i'm not saying it's a tired brand. i'm just saying that it's just not like mastercard and visa they're going the other way. they're going to talk about how they are dominating the world and going from a cashless society. they're just doing okay. it's a blowout it's doing okay. hah sounds boring but there's no reason to buy or sell. >> take a look at qualcomm a few moments from now stay with us on squawk on the street >>> the opening bell in just over a minute. the president marks six months in office today. align technology, nvidia act vision and win. >> also going international. it's cystic fibrosis. >> yesterday. >> that will be approved by everybody. everybody wants that. >> that's my dog enough said. >> activision. >> he's doing a fabulous job. >> well, that's china. so this is what i'm talking about. it is just, people and i am stopped e

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>> mastercard is the number one pick of the second half of the year, why?ankly looking out to the second half, we are seeing a need for a little bit of balance. at the end of 16th and small cap work and this first half it was a lot more secular growth. and mastercard fit that is bill, its got a lot of economic exposure, it is a significant removal on volume and inflations begin to take offoff, mastercars in the right place a lot is going on there. and a lot of things that are happening. >> i was thinking a bout that deal that jp morgan thought about doing but missed out on. there is a lot going on there as they tried to achieve scale when so many people are buying stuff online and everywhere else >> aramark >> great play, any ball field you are going to, there is a good chance that you have aramark behind this is a story that they continue to cut out costs for infrastr you c infrastructu infrastructure >> they cater the food, right? >> you got it. >> they're the food and services and they're you know you want to buy your t-shirt at the concert, they're behi

so mastercard and visa are so unbelievably good and they go out and they are so much better than everybody else. i feel bad but this is like yankees, okay, and national and america. let's say there is a switch but -- >> jim >> yes. >> take a look at this the reason i like it is this stocks are 96 bucks. i love the idea of buying basically at the money call for around $2. i mean, when you can buy an at the money call for $2 on a $96 stock, sell a call up here against it, i think you really move the odds into your favor. i agree with your assessment >> why is it so cheap? >> why >> yes. >> because the stock runs 24% and the century mark is as high as it goes in the short term. >> when i was a young broker, i went in to see the wealthiest people in the world and i was so right so often. >> pete, have what you got >> pulte homes was part of your tease. the activity we saw today -- a month ago we were talking about alcoa. they were buying calls they bought these july calls very aggressively. now today they are rolling up from the august 32 calls and buying august 38 calls they sold for huge pro

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zpl i'm long mastercard. visa thing is interesting. i say if you go home long, it's the same if you bought it. the banks, we'll see tomorrow, they'll start reporting. i'd rather not trade to earnings i'm long bank of america, jpmorg jpmorgan, citibank >> little steel to add there the semis, we can all argue about whether they can if they're run too fast and they have, but i took off some in the space itself, amd and of these names, but i added taiwan semi, but late in the day, big buyers in there, they're all short-term though in the tech space, specifically the semi space, everything is joint. >> staff trade >> it was supposed to be tim >> you could say it's -- today's retail bounce comes as the wall street jackson says retail's rough year has mom and pop investors beaten down in shares of retailers our next guest says he's got two names you should buy and one that is a no touch let's go off the charts with robert slimer. what are you looking at? >> hey, melissa. so, leet l let's look at the xrt. roughly around a percent or so each ro

mastercard coming up with earnings, looked like they had beat estimates, but those shares are lower. one analyst said it may be because of recent strength in the stock, and the fact that the company did not significantly raise its 2017 forecast even after second-quarter results beat estimates. nvidia also getting beat up today. another stock that is turning lower for its own individual reasons earlier. , services contractor. that company, according to dow jones, is no longer the subject of buyout talks from bmc. crossed, those shares took a steep leg lower. there is one stock i want to point out because of late news has taken a leg higher. adp, automatic data processing. according to people familiar with the matter, pershing square capital management's bill ackman said to be building a stake in the company. come when this story crossed. david: thank you, julie. more with joshua green. we will talk about the dysfunction in washington. is it dysfunction or dynamism? this is bloomberg. ♪ david: welcome to "bloomberg markets: the trump economy." let's get a check on the first word news w

mained.ing achieving great performance, but that advantage needs to be mained but there are outliers mastercarddoing a great job and it is rising on the index. >> david peculiar continmartin, joining us on the rebalancing. >>> turning to wall street'se a agenda for the week, plenty of economic data. today look for ism manufacturing index, construction spending and monthly auto sales markets will close at 1:00 on on wednesday, we get factory orders and minutes from last month's fed meeting. on thursday, it's the june adp report and ism services index. and friday the john june jobs report >>> and four former barclays and the company facing charges connected to the 2008john june report >>> and four former barclays and the company facing charges connected to the 2008ohn june js report >>> and four former barclays and the company facing charges connected to the 2008hn june jo report >>> and four former barclays and the company facing charges connected to the 2008n june jobs report >>> and four former barclays and the company facing charges connected to the 2008 june jobst >>> and four former barclay

mastercard up 24%. both those names trading at all time highs american express seeing big gains.15% there are some laggards in the group. capital one down 7%. discover, 15%. so, we should also throw in ppa pay pal. that stock is trading off a 52-week high >> it's one i think dan has been on all over. i like paypal in terms of story. tremendous amount of growth. the thing we know, payments are changing you want to be in the places that are having that growth. paypal is one of them. trading wise, i'd probably be taking a little off there. if i want real growth, where i'm going to go is pinpoint. >> amazing how -- it goes back >> everything gets the bit coin. >> american express. >> after the costco thing, a lot of people, rightly so, by the way. this was a $54 stock the end of last year, this was a good quarter didn't raise guidance, but i think you can buy the weakness >> we have breaking news from the cbo. on the plan the to repeal obamacare. let's go to kayla. >> michelle, melissa, we have a cbo score for the stand alone repeal of the affordable care act. just put out and i want

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global companies like mastercard and microsoft. small and medium-sized businesses have to manage cyber risks. it links to the larger companies. the focus of the institute is looking at how do we secure the small and medium-sized businesses, to ensure industry and government can be secure. >> bret: capital he'll have to do something else, i am guessing. the largest internet hacks. 1 billion yahoo accounts, 500 million accounts in 2014. three and are 60 million myspace accounts in 2013 and 100 million linkedin accounts. since then, there's been a lot of companies fallen victim to attacks from hackers all over the world. >> there will continue to be many. the key is resiliency. we talked about it in the commission, president trump talked about it in the executive order. there are elements that can be taken in a cyber risk management approach to create secure infrastructure. part of it is educating the people involved. if you create secure infrastructure and educate people, you are going to minimize the attacks coming at you. the chall

it these and mastercard in record highs today. there is the 10 year yield.ace.more on gold and the yen also rallying this week. put that into contrast, that we have haven assets as the stocks hit all-time highs. you think at some point, something's got to give. gb -- g #btvt 4154. in yellow, we have gold up about 7% for both the riskier stocks. in blue, we have the 10-year note. and interestingly, maybe the tie-breaker at the commodity complex which is said to be a more risk asset. it is down. despite the fact we have stocks all-time highs, we all have haven assets. the tie-breaker could come from the commodity complex, julia. suggesting there is a little risk off the backdrop. we like pondering on this show. let's turn to bloomberg white house editor, alex. alex: they are still wrestling with this bill, trying to get moderates and conservatives on both ends of the political spectrum with different problems with the health care bill. which, by the way, is extremely unpopular with the american public. mitch mcconnell continues to try to thread that needle. wi

companies, amazon, which we heard from nicole petallides and the nyse, new 52-week high, microsoft, mastercard, as long as the companies are innovating. >> not to undermine what's coming out of washington here, but i think that markets are going up because of the earnings data. the earnings results are looking pretty good, and revenue is up 5% year over year. melissa: senate voting under way as we said in the straight obamacare repeal, but it's not looking good. adam shapiro live in washington with what exactly is going on with the vote. adam? >> reporter: right, this is the straight repeal, and it was going to die because the mod rates want there to be a replacement. you heard rob portman in the last hour say there has to be replacement, that means the medicaid stabilization and expansion, that's billions of dollars that the conservatives don't want to be part of any health care reform. so the skinny repeal which is going to be coming down the pike, john cornyn said we will see the text of the repeal within 24 hours, the skinny repeal would repeal the individual mandate and the employer manda

bay area-based visa's biggest competitor isn't mastercard or amex. it's cash. cash still makes up the largest chunk of retail transactions more than 30% likely why that credit card giant is encouraging retailers to get rid of cash and that's a trend that could be good and bad for consumers. every time you swipe, the credit card company gets a percentage. now visa is working to get more swipes with its new cashless challenge offering $10,000 to up to 50 food service businesses if they go cashless something a handful of restaurants like sweet green began experimenting with last year. >> there can be problems with cash. >> reporter: this person explains, despite transaction fees going cashless can benefit small businesses and speeds up service and prevents what's known as shrink, lost or stolen cash. more than two-thirds of consumers carry $50 or less. 9% don't carry cash. and in many cases, credit can be safer for consumers. >> credit cards are a better option for consumers because they carry increased protection such as a charge-back rate. >> reporter: you can d

>> we care where it's going to, i saw a great number today i expect nothing less than that from mastercard, that's going to raise the valuation. dan is doing a remarkable job. they've been wrong paypal's been right. stay long. rob in rhode island. rob? >> caller: jim, hi this is rob from rhode island. boo-yah! >> boo-yah >> caller: what's your take on under armour >> i think they're making a turn i think it's a slow turn, not a fast turn. i prefer nike over under armor kevin plank is going to get back on his game. he doesn't know how not to kevin, you should come on the show and talk. art in california? >> caller: yes, mr. cramer, i like your advice on cbs health that's been going downhill. >> i've got to tell you, my travel trust, we booted walgreens today. why? because we think we're going to wake up and see amazon decided to do drugs, prescription drugs. and that's going to be the end cbs will be down 10% and walgreens down 10% i'm done i'm done with waking up and seeing amazon hurt my travel trust. that's it. okay i know they can't do all these things and i know that one day we'll say,

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great, these rules put an end to surcharging on american express and paypal as well as visa and mastercardes from last year and 16p for credit cards. up until now some companies have passed significantly higher costs on to consumers. including the dvla which charges £2.50 per card transaction. 77% of all retail sales in the uk are made using cards. so it's the predominant way to pay and therefore it is quite right that consumers shouldn't be charged for the privilege of paying in the way they want to. surcharges will cease but it will be open to firms to recoup the costs they incur by other means. let's get more on that story about the salaries at the bbc. we are joined by the bbc‘s radio director of education. we were talking about chris evans earnings. is he worth it? it would be less than 1p per person given his audience. 0urjob is to present world—class programmes and that means finding top talent. we have to get the best talent to be able to do ourjob. what has emerged has been this gender gap between men and women, and chris evans earning five times more than the top earning women at

like the likes of the mastercard, visa, go into a shop and use bitcoin.he assets started, you could buy a christmas tree starting -- is an bitcoin. then it never really quite took off in the way they wanted. now they have -- want to make transactions that much easier. that's the key question, how do you want us to of all? the key is a competitor which has allowed smart contracts, which has made people more worried at bitcoin. >> this issue of the divide happening within bitcoin, all of having ao currencies, rough few days. >> certainly. the theory once upon a time, split into. -- manypened after hack who used the crypto currency. they decided they would go their separate ways. whether to compensate or not -- it has happened before. the you are right, the selloff is wide -- we are seeing a down 20% -- we are hitting their market territory for a lot of it. in june the jubilation for this market -- excess of $100 billion in terms of market caps for crypto currencies. fallen off atve $80 billion market caps, the whole crypto currency universe. >> the history

you can go to the website of visa or mastercard, or any other credit card operator, and you will see they see themselves not as a financial company. he started as a financial company, helping to channel payments. aw they see themselves as consumer insights company. by observing the things you are buying and when you are buying them. on theh you are spending individual level. they can learn a lot about you, but they can also see -- extract information on a broader level. when they see recently people in san francisco started buying certain things or going to a certain restaurant. valuable very information that can be sold. if you are not paying for something, you most likely are a product. think about your web browser that you probably didn't pay for. your facebook accounts. your web search mechanism. one of the gazillions of apps you have on your phone. think about how much data you are sharing with the others. facebooks your use of -- originally as a graduate student at cambridge, i believe. i believe facebook likes republic. anybody could see them. that make that kind of data sets