i'm betty liu here with matt miller. matt: i have the honor of standing in for mark crumpton.ook attraight to the markets. some under the radar movers this afternoon. >> before we get to those movers, let's take a look at how the market indices are performing. the s&p 500 is up by 1.25%. the nasdaq of more than one. the dow is up three -- 1.13%. -- 1.3%. seven-daye breaking a losing streak. now to some of the individual stocks, let's go to food as less commodities and industrials. .ood first, dean foods it is down by nearly six point -- 6% right now. it makes milk and ice cream and cheeses. one of the reasons is that there is the sudden resignation of its chairman, tom davis, effective last friday. the company has declined to comment, but a new chairman will course."ced "in due matt: that is a problem when the chairman of your company resigned and you don't get any explanation. that raises serious questions. >> right, and many investors are frustrated with the lack of transparency. we will see how this works out in the next week or so. moving on to the commodities sector, free

we will check in with matt miller who has all of the numbers for us. tao right now to hundred 85 points -- the dow right now down to hundred 85 points. of course, it has been three most of theines for major averages. the s&p 500 at the lowest level it has seen this session. point 3%. down to you saw most of these stocks off -- the ftse was better than the cac and the dax. and asia and markets kick this off overnight with cause expand -- with cause extend -- kazakhstan allowing its currency to depreciate by 10%. you can call that devaluing its currency, if you like. that is really what sparked this whole market meltdown. the s&p 500 is year to date. so, if you invested on december 31 of 2014, you are now in the fallen below its 200-day moving average. a lot of people talk about the death cross. average.ay moving that has happened here and it's definitely not a good sign as far as technical traders are concerned. the s&p 500 is off to .9%, the biggest monthly decline since january when it lost 3.1% -- the s&p 500 is off 2.9%. one reason that stocks, espe

alix: going straight to matt miller with a look at the markets. s like we may have had a comeback that did not last. matt: it did look like we might have a comeback as a oil. it did not last. we are seeing is the dow jones that is down more than 100 point. close orbe the worst worst month we have had for the dow since 2010, and the worst month for the s&p since 2011 if the numbers persist. .7 5%. off 100 points on the dow jones industrial average. i want to quickly pull of oil and talk about it. we will continue to talk about it a lot. a fascinating story. big enough moves to justify more than one of us pointing it out. opec saying they will collude with other producers in order to put a floor on prices. as a result $3.50 per game barrel. showed up asly chart to show your over the past three days we have seen the biggest gain in 15 years because my math was fairly poor. i forgot 1990 was one decade back -- even further decade back. i have to chart up on my terminal. there you go. mistake i made was by singing if you have a bloomberg terminal at hom

i am mark crumpton here with matt miller. tt: let's look at the top stories crossing the bloomberg terminal at this hour. claiming mores than 460,000 square miles of sea 350f, extending more than not a miles from shore. russia, canada, and mark, and norway are trying to assert jurisdiction over parts of the arctic. to a believed to hold up quarter of the planet's undiscovered oil and gas. matt: firefighters in california stand their ground against a growing wildfire. the blaze has grown to 97 square miles. at least 30,000 people have been required or devise to evacuate. and at least two dozen homes have been destroyed. coverage of the flight for the missing malaysia ticket370 is hurting sales. all of the passengers are presumed dead. confirm expected to wednesday whether a wing part located last week is from the doomed flight. -- it's shares plunged last year after disasters with flight 370 and a flight that crashed in ukraine. matt: let's look at apple shares. shares dropped to their lowest level since reaching an all-time hi

good afternoon, i matt miller. apologies, every time i say ohio, i am supposed to say the great state of ohio. home of matthew miller. wall street is trying to gain its footing to get back on solid ground. stocks advancing after the steepest losing streak in four years. let's check the boards of the s&p 500, jumping at the open after a 3% rally on tuesday, evaporated in the last hour of trading. right now the broader market is up eight point 5%. the dow jones industrial average is also trading higher today, up 260 points at 15,900 25, a gain of 1.6%. the nasdaq is also in the green on this wednesday, up nearly 1.5%. nymex crude today is flirting with the $40 a barrel mark. at $39.13. it is down almost half a percent , trading at that level following yesterday's recovery from the lowest level since 2009. brent crude of a quarter percent. ignorers continue to gold as a safe haven, the focus instead on the prospect of higher u.s. interest rates. goal down one and a quarter 1001 hundred $24.70 and outs. at bonds in loo

i matt miller. -- i'm matt miller.rtunity in pet insurance when they realize that less than 1% of pets were insured. --is started pet planned inplan usa into the -- 2006. here is more on their journey from small to big. >> we had over $5,000. [barking] ♪ [meowing] object --a massive massive opportunity. we had to raise some capital. we had to put in place the infrastructure. and then we launched the product in 2006. we decided to approach the largest pet insurer in the world. we wanted to become pet plan usa. lots of different breeds for cats and dogs. you need to understand the risks associated with those pets. they shared their data with us. it gave us a tremendous head start. we have a company with revenue close to $100 million this year. we have got a great foundation to build on, but we need to create that awareness for pet insurance. establishing a reputation within the space. that involves going to trade shows. we will be telling people about the pet lamb, what's coming soon and why we are different. it took 10

i am matt miller. corey: -- pimm: i am pimm fox. ook at how stocks are paring and there is a continued selloff in the u.s. stock market. matt: as. below 17,004ou go, the dow jones, just nearing 2000 on the s&p 500. a drop of more than 27 points. i can redo the

scarlet: matt miller -- alix: matt miller is in the newsroom with more on the action. matt: i woke up this morning and put on a green tie and green shirt. a lot of people have been complaining. i was trying to induce the market to do well, and it did not work. we had a pretty bad day. coming into the close, 114 down on the dow, it is not a rule, but it tends to accelerate and get bigger and bigger, the losses. inverse isue -- the also true. last week wasn't horrible. the dow closed up 1.1% last week, the s&p was up 1% as well. it was the week before that that really stunk for people who were long on stocks. we had the worst now -- month for the dow since may of 2010, for the s&p since september of 2011, and for the nasdaq since may of 2012. i wrote this wrong. it should be september, 2011. the worst month in five years, four years, three years. the vix is the highest level we've seen in august since the financial crisis. here you see the gauge. we have it topping out at 47.4 -- these are closing levels. intraday, it shot up to a 50 handle and stayed there for a while.

i am matt miller.ut again with a look at the markets at this moment. rallyiously have a underway. after the steepest 2 day drop since the financial crisis, we have seen markets recovering some of the ground that they lost. the s&p is up 44 points and the dow is gaining 300 50. you can see the dow over 2 days. the big drop yesterday morning. we closed down 588. this does not tell the whole story. it closed with a loss of more than 500 points on friday as before,0 points the day 162 the day before. it has been a rough week for the dow. this the rally does not do it at all. is higherstock market today by more than 2%. let's look at oil and gold. oil is gaining 3%. crude is up 1.5% in europe. alling. f let's look at the bond market and look at what is going on with treasuries. a little bit of a selloff going. selling.u're yesterday it was one point. i think the 10-year was below. it shows a lot of selling going on in the treasury market. let's look at this, it is gaining a little bit of strength. 1.14 agai

i am matt miller, back with ed hyman.r 1 wall st economist 35 years in a row, and unprecedented run. an amazing thing. you have a lot of hedge fund clients. i am wondering how they are positioned right now. you think about the differences between this stock market meltdown and others, you would think this would be different of the other hedge funds. ed: for what has happened thursday and friday and even they cannot be positioned defensively enough. they are clearly defenses and they happen for a while. -- have been for a while. not as defensive as say 2011, when the s&p had a 20% correction. their defenses, but i'm sure the past three days have been an eye-opener for them. no correctionhad since then. is this a healthy correction? a lot are expecting this now that they have it. is it a healthy correction? doug says he thinks it could go down 20%. he thinks the fed might be talking about qe4 again. ed: i doubt qe4, but i could see where they would be questioning the other central banks that are there as well. not think abo

good day, from bloomberg world headquarters in new york i am here with matt miller . matt: take a look at the indexes, down across the board. even though we got a job number that should have pleased the market because it seems to push most economists in favor of a rate hike in september. by right now we have the s&p 500 down of almost 1%. the nasdaq is off 9/10 of a percent at 5000 11. take a look at treasuries. some buying here pushing yields down. about four basis points on the 10-year note. that jobs number came in a little shy of the estimate in but if you look at all of the component pieces of the job report, it actually looks fairly strong. you have growth in wages, a strong number of hours i more americans working, earning more money. mark: we will get some context in a moment. list to get a look at the top stories we are following this hour. value are capital management now has a $1 billion stake in american express and the activist fund is said to be considering shareholder and lead changes at the nation's biggest credit card insurer. people familiar with the

betty liu, he with my colleague, matt miller, who has decided to join us. e you have a very exciting guest. betty: i know, and i know that you love video games. matt: particularly the xbox. betty: don't take away the fun just yet. users have been allowed to stream content from their consul to a windows 10 pc, and the is to their xbox one console as it remains in a dog site -- dog fight with sony's playstation four. the latest figures from the company show that they have sold ''s whileillion ps 4 microsoft has sold 12 million 's.x one joining us, a man who changed the life of matt miller robbie bach,. [laughter] .- matt miller, robbie bach [laughter] matt: let me explain. some of moved to berlin suggested that we all get xbox is because we could all play against each other and this was the first time, 2001. it was magical when it first came out. what differentiated xbox from all the councils that came before it. robbie: in the early days xbox struggled. sony probably had 60% market share. xbox live was one of the two things, that and a game called halo, reall

i'm betty liu that with matt miller. : going to julie hyman with a look at how markets are doing right now bouncing around the bottom of session lows. julie: yes, indeed. back to being the worst a lot since late january as the selling does accelerate here. earlier he saw the dow fall 270 points. near the says we are bottom, that is what he is talking about. taking a look at the action. we have been trending lower throughout the day. all of the global growth concerns percolating. the uncertainty about the federal reserve and whether it will raise rates in the mid- stood this is weighing on investors as well. in terms of stocks weighing the most on the s&p 500 because of the index weight in part, apple selling off by 2% 3%. set in thesales second quarter chinese sales fellcells -- for the first time ever, causing concern for technology investors. does the downgraded by bernstein, talking about a andlar design and a tv facebook taking a hit, down by 4%. then there is netflix, which has doubled this year, the s&p 500 best per

matt miller.rik: i am erik schatzker. matt: taking a look at what is making news. warren buffett, big headline. the price of little bit more than 37 billion dollars in cash. that represents 27% premium to the closing price on friday. alibaba will spend $4.6 billion for a stake in suing cars group. the move comes as china's biggest e-commerce at a network of electronic stores. the biggest deal ever as well. the companies will partner in logistics and online sales as fast as two hours. in chairman after 24% drop the market value. bolstering the appeal of e-commerce operations facing slowing growth in china. it is now official as bloomberg reported earlier, under armour getting a foothold in the nba. part of a multiyear agreement. under armour will be the title partner of the nba combine draft partner in youth basketball program. under armour will team up with nba to launch a mobile fitness app. the deal will allow under armour to put the low -- logo on nba merchandise. the u.s. postal service delive

i am betty liu with matt miller. tt: julie hyman is giving a look at markets which look to be hitting new lows this afternoon. julie: were talking during the break about craving cinnabons. many something to distract us about -- from what is going on in the markets. it is a painful set of days. this is the fourth down day for the major average. it looks like we are at the lows of the session for all three major averages with the dow down 357 points right now. big declines. how far down are we from the highs of the year? i have been tracking the correction, the progress towards correction. progress might not be the word depending on your perspective. from the high of the year on the s&p 500 on may 21, we are down about 6.5%. 10% is the common definition of correction. selling does accelerate today. looking for friday selling to abate are not getting their wish yet. i want to look at momentum groups giving up the ghost, so to speak. the semiconductor index entered a bear market yesterday and is still going down today. do

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'm matt miller. erik: i'm erik schatzker. tt: joining us with a look at what is going on in the market here this morning. the redajors are all in this wednesday morning. and they are all at session lows , extending losses from yesterday and following asian and european shares, this is really in large part a reaction to china devalue and its currency twice -- the valuing its currency twice in the past few days. at a six-month low. down by 1.4%. currently looking -- now past the 200 mark down. it puts the dow on pace for its worst two-day drop since late january. the s&p and nasdaq falling to a fresh one-month low. looking to individual movers in the go to, fossil. it is down by two point 2%. among the worst performers on the s&p this morning. earnings were out after the bell tuesday. for the most part, those numbers were not good. shares are reacting at the --est level since of ember november of 2010. the stock is paring some of those major losses. it was done as much as a percent right after the open. the second quarter revenu

i am olivia sterns here with matt miller who is coming in hot. matt: there are definitions of words that we all use in society, and it makes communication easier. olivia: that's not an official term. an illegal party, that's what you would say. olivia: no it's not. what about an documented immigrant? matt: i guess that's the pc way to say but the fact is they are illegally in the country. anyway, let's get straight to the market check. markets around the world are falling. more currency devaluation in asia. in oil prices as well. you see the s&p 500 down .8 of 1%, two thousand 79. the dow jones industrial down hundred 54 points, and the nasdaq off about eight times as well at 5020. olivia: looks about more concern about the rate of global growth. everyone looking out for 2:00 p.m. when the fed comes out. matt: the question is how interesting will the fed minutes be today because all the most everyone assumes, i think in the market, most economists assume that we will see an interest rate increase in september. the market is showing awaits. olivia:

i want to get straight to matt miller in new york. matt, when it comes to tech, the fab five all up. but talk to me about volume into his buying. matt: if you look, for example, at the first six gainers, only exxon is a non-tech name. all those you mentioned plus microsoft, apple, google, facebook, amazon. the buyers here were people who believe that we have put in a bottom, if they are not daytraders. with such incredible drop over the last seven days, we have seen the dow erase 2000 points. it takes a while to put in a bottom. technicians will tell you after a drop like that over such a long period of time -- it's not necessarily fully in today but maybe this is the inflection point, and the buyers believe the u.s. economy can withstand it, the chinese economy is stabilizing, and that commodity rises may have bottomed. emily: matt miller in new york, thanks so much. i want to talk about -- even though the public markets are bouncing back, what lies ahead for silicon valley? we have all these unicorns. jeff is back with me now, an inv

matt miller, our car guy, joins us for context. d anyone in detroit really believe millenials would not buy cars? matt: i don't think so. i talked to bill ford about this to my to mark feels about it, i talked to mary barra about it. all of them said that they expect millenials to at some point come to cause the same way all the rest of us have. millenials have had a tougher start. they are saddled with more college debt than anybody in their age group has before. they're finding it tough to get jobs at colleges that pay decent wages could those factors are making them wait a little longer. plus the fact that public transportation and uber and all of these other things have made it easier to get around in urban areas. mark: these luxury carmakers, are they specifically targeting this group? matt: millenial's want a lot of stuff and they don't want to pay very much money. mark: that is generational -- matt: kind of like the rest of us. in a way, they are smarter at getting what they want and having it still work in your budget. mille

i'm matt miller. erik: i'm erik schatzker, dropping things. matt: that is because you are excited about economic data. for that we would go to mike mckee in the newsroom. mike: unfortunately, for the united states economy, wholesale inventory is up .9 percent during the month of june. the month of may was revised down. we are looking at a net gain of .7. in may.down you want sales higher than inventories, so you keep making stuff. we have seen a big inventory build over the past two quarters. this is second quarter data, june. it will all be incorporated into the revision to gdp we get for the second quarter. what we really want to know is what is the level of inventory going into the third quarter. our factories going to keep building stuff? are retailers going to have to discount? this suggests a lot of stuff is just sitting there. we have imported a lot of stuff, which is unusual given the fact that the dollar has been strong. we will have to watch how that develops group the next couple of months. the update.you for i think it is fair to sa

. >> i'm matt miller here in new york. "bloomberg west" east coast. coming up secretary ash carter talk to us about building a better relationship with the tech community and building robot soldiers. us is there a cyber security bubble? here from tanium, flexible electronics, all that ahead on "bloomberg west." first, u.s. defense secretary says he has a lot to learn from silicon valley. he's trying to build a stronger relationship with the tech community. emily chang sat down with him. emily joins us from mountain view, california. emily, tell us all about the event. mily: the u.s. defense secretary is meeting with a number of different cyber security c.e.o.s. and the real thing that he is trying to accomplish here is to rebuild the relationship between the pentagon and silicon valley to recruit engineers who want to work for the government to change this perception that silicon valley leaders have, that they have to protect their users from the u.s. government given this is the post-snowden revelation era. he's scouting new technology. he talked abo

i'm matt miller. cory: i'm cory johnson. schatzker and ruhle are off. but we are here. you a look at our top stories. shall we? cory: we shall. matt: new home construction rose last month to the highest level in almost eight years. buyers are being attracted by low mortgage rates. the lack of home on the markets is persuading builders to start new developments. the largest auto retailer in the country is getting bigger. 16onation has agreed to buy car dealerships located in georgia, alabama, tennessee, and maryland. nbc universal looking for younger audiences. they have invested $200 million in buzz feed. the two companies will invest in another digital media site, vox media. a suspect and the deadly explosion was seen on a security bangkok, thailand. 20 people were killed, 100 others were wounded. the greek government is relaxing on moneyictions transfers. greek respected -- greece restricted banking transactions to prevent a run on the banks. those are your top headlines. cory: just some of them -- matt: just some of them. cory: just some. i'm used to seeing you on th

. ♪ matt: good morning, i'm matt miller. erik: i'm erik schatzker, everybody. tt: we want to take a look at breaking economic news. erik: not breaking, really. it broke. matt: broken economic news. julie hyman is in the newsroom with the headlines. julie: we have one item of breaking news, construction spending. month over month, it is a disappointment. it looks like it is more than made up for based on the revision from the prior month, an increase of 1.8%, up from 0.8%. getsee that the may bar bigger as the june bar is smallre. a strange situation with the isn manufacturing. the numbers coming out early. we saw manufacturing in the u.s. cooling in july from the highest level in five months. the reading is down from 53.5 the prior month to 50 2.7. guys. matt: thanks very much for that. i want to check out how markets are reacting to that news. stocks are trading lower. take a look at the indexes. the nasdaq is up a little bit. the s&p is unchanged. the dow is down. we did have an up month at the end of the week last week. erik: i want to point everybody to what

we know matt miller likes to go heavy into the video games and soda.are at a very interesting point in the videogame business, wo's earningsake t will tell us a lot about what is going on in the industry. ea's shares have more than doubled. on the sales front, you also see a difference. you see a year over year sales 30%,ake two down over primarily because of the success on a trailing basis looking at the release of grand theft auto. we are entering the phase of the console videogame business where there is a lot more game units out there. the estimate was about 26 million units with the newest versions. one,laystation 4 the xbox 26 million at the end of last year, and that could be as high as 50 million this year. that could mean a lot of good news for take two, which is focused on the console business. this is kind of a one-hit wonder. they do have read dead redemption and nba 2k games. cory: those are big games, those are huge games. matt: when i think about basketball, a lot of times i think about china, but they love basketball. they do not love g

matt miller, let's give you a flood. -- plug. fun. matt: later on in the hour, i have a guy who cut his teeth on the argentinian debt crisis. he knows what it emerging-market debt crisis looks like, and we will look at asking him if using too many similarities? in the noon hour. olivia: tune in. watch from noon and wait for it. 12:37 p.m., matt miller, you do not want to miss it. [laughter] headlines.review the a new mission. he wants to convince general motors to move headquarters from chicago to new york. -- from connecticut to new york. areyork, texas and georgia among other places in consideration. and they will be able to replace 100% of the water they use by the end of the year, five years ahead of schedule, says coke. and the owner a pizza made famous in the movie of the same name is admitting he has mishandled a whole lot of dough. he will go to prison for one year. it has been interested traction since the movie was released in 1988. those are your top stories at this hour. it is time to get you caught up on all the market ac

i want to bring in matt miller. 29 of the constituents of the dow are higher. is a little lower today. matt: mark mobius has called it a dead cat bounce. it does make a lot of sense you would get a relief rally after such a string of droughts. five trading days, we've seen a drop of 1700 points. in the last two, more than 1000 points. the fact we are up 388 points doesn't surprise me or mark. andaid they injected cash made a couple of moves the market was clamoring for, but is that going to be enough to hold up the economy? think but the bigger picture problem -- you have this slowing economy that is absolutely massive. atm: it is still growing anywhere between 5% and 7% depending on his newsletter you read. matt: but it is slowing. pimm: not growing as fast. matt: some people who are optimistic saying it's growing at 5%, others who are pessimistic are saying it's growing at 2%. and they are the biggest buyers in the world of oil, copper, you name it commodity. all of those commodities producers are feeling the hurt -- last night, new zealand opened first. it's

matt: and i'm matt miller.ing with an acquisition for years in the making that does not pan out. isie: monsanto and syngenta what we're talking about. monsanto trying to make itself the biggest producer of seeds worldwide, pesticides as well. if it had succeeded in buying9. .- buying syngenta monsanto is abandoning the whole process and they may start buybacks once again. surges going up for monsanto. there is another big deal today, not nearly as big, but another deal was announced. buying -- a 66% premium to cameron's close yesterday. an oilfield services company buying a maker of equipment. the idea is they would be able to offer customers some sort of bundling. this might indicate they see a bottom to the oil market right now. we are also seeing other oilfield services company's rising on speculation we could see more deals. --edies like weatherford at companies like weatherford and national oilfield. in terms of oil, we have not seen as many mergers and acquisitions as you might expect. so box -- with stoc

matt: i'm matt miller. just a half hour into the trading day. markets down across the board. the s&p 500 down 2/10 of 1%, as is the dow. 3/10 of a down percent. take a look at oil. crude actually trading up a little bit but still holding under $42 a barrel. brent.e a look at well under $49 a barrel. said, we cannot be expected to cut production and hold the oil price up. but they are not doing it at all. then we had another drop in chinese stocks overnight. olivia: a little bit of demand pressure. also the fact that we are opec countries pumping near record levels. rigs in keep adding the u.s. as well. let's take a look at what's moving in the news this morning. iny was the best month almost eight years for new home construction. housing starts last month reached an annual rate of 1.2 million homes. single-family homes led the way. themortgage rates and greater jobs picture are encouraging buyers and builders are stepping up because there is a shortage of homes on the market. walmarts second-quarter results missed analyst projections. the company blames the strong dollar and

from bloomberg world headquarters in new york, i am mark renton, here with matt miller. matt: a look at stocks. points,rising over 1900 a gain of 40 points, the dow jones putting up a gain of 342 points, and we are looking at basically the top that we have seen today come the nasdaq up 2.25%, 4607. rally that petered out and turned to a loss at the end of the day, but the chinese market had followed devon percent, and today we are looking at 1% and change overnight, not as bad. taking a look at treasuries, use the a little bit of a selloff in on as investors did a term -- in the market. the yield is up 10 basis points, and the 30-year long bond yielding 2.93%. and finally, taking a look at oil, what started all -- the chicken and the egg. 8/10 of 1% today. is also not higher, but i think it was unchanged, bouncing between gains and losses on brent crude today. now let's look at the top stories. a gunman who is said to be a disgruntled employee who shot at reporter.n and a they were pursuing the suspect on interstate 66, and he was found crashed and suffering from a gunsho

joining me now, a fan of bill young and beachfront property, matt miller. looks beautiful, and i am sure it is, but it is not a very big house. for a rockstar like neil young it will not fit in his entire entourage, let alone his family. although he recently parted with a big part of his family. it might be a part of the sale but it is not mentioned in the story. he just filed for divorce from his wife of 36 years last year. they had a couple of kids together as well. you never noticed behind these moves. but you do know what is going on in hawaii is actually a property boom. mark zuckerberg bought two properties that total 700 acres for $100 million. as you mentioned, larry ellison on an entire island in hawaii. larry ellison now owns the wise six biggest island. mark: according to the bloomberg terminal, according to core logic, hawaii, along with the district of columbia have prices of residential properties that reach a record. we are starting to see some staggering prices for real estate. matt: absolutely. in some ways it has become the hamptons of sil

matt miller, our resident gearhead. ert, but also here to let you know when the president is speaking today. go ahead. matt: i have other talents as well. but let's focus on cars. nissan and the -- and fiat chrysler beat estimates, but the two automakers are estimated to have sales of more than 5%. the strongest growth of all of the automakers we are expecting today obviously coming from a smaller base. it's a bit easier to grow a bigger number. orton chrysler coming from a bigger base -- ford and chrysler coming from is bigger base and we are expecting smaller growth. both under 2%. they have a struggle that carmakers would rather have, that is, they cannot make enough vehicles to meet demand. stephanie: that's a good problem. matt: and it's especially the." truck. the f1 50 -- the pick up truck. the f1 50, they have not been able to come up with enough inventory to keep them on dealer lots. that's why you don't see sales growing as fast as they could be. erik: what about china? matt: we will get to the u.s. headlines,

matt: good afternoon, imf miller, now joined by betty liu -- i am matt miller, joined now by betty liudifferent much different from what we have seen before we saw this rebound. the dow up i-73 points.

matt: i'm matt miller. at features and focus.t monday inge the fear gauge went dark for nearly 30 minutes as hundreds of billions of dollars were erased from equities. last monday, american equities have rallied back 5%. joining me to discuss the next move is filled struble. riebel.ip street rise to highs we have not seen since the financial crisis. what --w we are around 24 or 25? >> we have the dow down triple digits. we have the factory orders. jobs report coming out on friday to all that will impact the fed. the key here was china last night. they came out and said that they were not going to continue to support their stocks. gaugeense the fear skyrocketing upwards. it a lot of big anxiety out of traders who could if you no support from china, you will see the stock market pullback aggressively. index, if we get backed up to the low 20's coming want to get some exposure and protection. exposure anducing going from there. i think you want to belong on the volatility index right now. even if we assume the fed is on track for a

matt: good morning. i'm at miller. pimm: i am pimm fox. -- matt miller. stocks are lower after the change in chinese foreign currency rates. u.s. stocks lower by about 1%. oser,ow the biggest fll judging that on his apple and chevron contributing to the decline. matt: taking a look at what is going on in commodities as china is the biggest consumer of many of these things. you see them down across the board with the bloomberg , broad basket of commodities down 2%. nymex down 4.18%. 43.0 eight per barrel. let me pull a brent crude. 43.08 per barrel. pimm: substantially below 15. we heard last week saying it could be oil at may the $30 per barrel by the end of the year. then resell copper down. we think of copper as an indicator of the chinese economy. the interesting thing david wills from merrill lynch saying this could be a great thing for china's economy, and maybe it would then be able to consume more commodities and save the as quantitative easing good four hours for the europeans. that would be a good thing. pimm: showing you what is top of the headl

i'm matt miller here with scarlet fu. a look at the markets right now.rting with the major averages on pace of breaking the seven-day losing streak. are in the green across the board. all at sessionre highs. very good day. s&p 500 up by 1.3% area the dow up the most by 1.4. a couple superlatives to talk about. month. the best data also, the highest in the month ends on track to break the seven-day losing streak. on to individual stocks. texas instruments. 3.7%.up by one of the big actors is macquarie is raising the stock rating to outperform from stockl and raising the price for the next 12 months. macquarie says for the fiscal year 2016 it estimates gross margins are too low and shares are just cheap, basically a bargain. .nother tech stock is apple apple for a -- higher by a second day. this is because of not one, not to but three bullish ratings. you can see bernstein is saying apple iphone sales could rise next year. oppenheimer says the decline is nomuera saysandnomur it is overdone. they could also take market share from seeing some. says it is ove

matt miller, thanks for breaking it down. tech companies like apple are not only moving the markets, but they are also being watched in washington. apple is part of a new public-private partnership with the department of defense to build cutting-edge technology that be used in the military. the defense secretary, ashton carter, has been courting silica and best -- courting silicon valley investors and entrepreneurs. andreessen,h marc cofounder of and recent horowitz. andreessenr of horowitz. marc: the big thing is i think the markets have been trying to adapt to the new economic data coming out of china. the other thing is american companies, and you have covered this extensively, global currencies have moved against american multinationals in the last six months. frankly, i think wall street was slow to adapt to the reality of the dollar versus other currencies. when a big company says we missed our numbers because of currency changes, the presumption of investors is that is an excuse. in the last six months, it has actually

mark: matt miller brought it up and we were talking to tom lee about this. this year, americans, unless you want to buy a car, they really weren't spending. they were pocketing this money. alix: that is different from europe. i have no idea. perhaps there is some financial shock, pay down some debt if there is any left over from the financial crisis. money onending the gas. we are traveling and we are using it. the cars that we use are much more fuel efficient. how many miles we drive does not correlate right away to gas demand due to that fact? >> you're going to be talking about this and a lot more starting this afternoon. we have a one hours vessel for rock p.m. to 5:00 p.m.. going to get marks take about what is happening in the market. about gold and see what he says about that. he made the call just in the beginning of august. he turned bearish and he sees much more to line when it comes to talks. he measures the breadth of the market to see where the s&p is going to go. mark: how smooth is our crew? microphone problems and they hand you one of these.

i'm matt miller. pimm: and i'm pimm fox. : we want to go straight to julie hyman -- julie hyman. make a wish. julie: i wish we were seeing better investment. that is kind of a lane which. twitter is down by 3%. just as longer downtrend we've seen from twitter a person thinking that with its earnings, and in particular it outlook -- it outlook that disappointed investors. shares are down 3% today, and that means at least on a closing basis that it is trading a record low. take a look at the long-term .hart the ipo was at $26. we have seen a pretty volatile stock price in the past couple of years. the right, 30.15. another stock that we are watching today in technology is apple. we are not seeing it fall by very much today. there is not a lot of fundamental news, just the idea that apple has not been performing as well as investors were used to, perhaps. for the year to date, it is pretty much intersecting with its 200 day average. we will see if it can climb above it. is the best performer in the s&p information technology ind

acta matt miller in new york. matt: thank you.ick look at markets as we had down this morning. you can see the s&p 500 off point for -- all caps .4%. not much, especially after one of the two best day rallies that we have seen in recent memory. and our worstk month since may of 2012 after all of the volatility, mostly down when you tell you that. we will go back to jackson hole when we come back. stay with us on "market makers." ♪ stocks are opening portrayed, trying to extend on their best today gain in more than six years but not doing very well. julie hyman joins us with a look at what is happening. is making thedaq best attempt at that, but not quite making it. right now, it is unchanged as the dow jones and s&p 500 all but not huge declines. still looks like we are setting up for an up week. the best-performing s&p 500 as yesterday is copper and gold. gain or record one-day the stock after announcing some production and cuts. today it is up again after close yesterday. an 8.5% staken and pushing perhaps for more cuts as well

i'm matt miller. i'm pimm fox.et's go right to julie hyman, looking at stocks falling on disappointing earnings news. julie: let's start with the worst performer on the s&p 500 today, green mountain coffee, down 29 percent. you think that would be the worst performance in a single day. it's not. e in may of 2012 when it lost half its value. delay in rolling out its new cold machine, which is an issue. sales at the company are down 1.4%. ist you're looking at here what this all means for coca-cola. coca-cola is green mountain new shareholder. machine that a new likely won't come out until next year. it also has a big stake in monster beverage. it has done a little bit better this far with monster beverage. it is up a little since that deal was done. in terms of how those two stocks are doing today, coca-cola is down a little bit. monster beverage taking a hit of about 3%. we have to point out the accelerating declines in the media stocks we were watching earlier. talking about viacom coming out today and missing est

i am matt miller with alix steel.et's go straight to ramy inocencio who has a check on the markets. the major theme of the week, the media stocks taken to the woodshed. first off, to the major markets. major averages are slightly off of their session lows. the s&p 500 has been hovering around this negative territory, about .6% down for most of the day. the dow is down half a percent. the nasdaq's parent some of its losses, also down by .6%. the dow is down for its seventh straight day in a row, the longest losing streak since august of 2011. that said, it is down only by 430 points, about 2.5% down. still, its lowest since january 30. let's go into some of those media stocks. down.ision is earnings were down three point 6%. -- 3.6%. second-quarter earnings matched and subscript and were better than expected, but something came out, in that it would have higher in the second half -- cap ex in the second half. two media companies moving on analyst ratings. one of them is viacom. they are up right now about 3%. one of th

alix: thank you so much, matt miller.re with everything going on on "bloomberg west" coming up later today. road isp, clara and seeing withdraws a 40% of assets after losses. we will be covering that, next. ♪ alix: bloomberg news has learned that investors in claren road were asked to pull about 41% in assets. the firm is owned by the carlyle group which is facing $2 billion in withdraw that the end of the quarter. in terms of this hedge fund, what went wrong? guest: some wrong that. energy, the greek debt crisis, financials, claren road started in 2005 and had a string of up years with great performance. bets on fannie mae and ready mac started to decline and these other more macro that's an it's on energy have led to declines this year. alix: is that unique to claren road, or is that pervasive in all hedge funds right now? guest: hedge funds are up by about .5% this year. what is interesting is that carlisle, which has three hedge funds, is struggling with its other hedge funds out side of claren road. vermillion is dow

matt: good morning, i am matt miller. erik: i'm erik schatzker. look at theh a news. filings for u.s. unemployment benefits are hovering your the lowest level in four decades, a sign of a strengthening labor market, possibly bolstering growth. say wiringsxperts are down as employers hold onto more workers. the july report is tomorrow. on interestensus rate from policymakers in london's bank of england. officials voted 8-1 to keep the rate unchanged at .5%. speculation about the precise timing of the first move in bank rate is increasing. this is understandable and is another welcome sign of an economy that is returning to normal. matt: the bank also cut his outlook on the inflation for the rest of the year saying it is muted, and the recent decline in energy prices will have an effect until the middle of 2016. bank of america is pulling wealthy clients money from a hedge fund belonging to hedge fund manager john paulson. they are also reviewing another fun due to concerns that large position may be hard to sell. a bank memo tells them to withdraw the $80 million from

earlier this ceo spoke to my colleagues matt miller. >> we have been hit by a double we meet.ssing cost goes ,p and the amount goes down profitability goes down. in the height of the commodity investing $200 million per year in recycling assets. investment has stopped with commodity prices 60% lower than they were three years ago and processing costs about 20% higher. for us, we need to figure out how we can educate our customers so they can give us less contaminated material, and then we need to wait for markets to come back and see commodity prices back. that is another area where i think we can talk to local governments, a government and federal government to say during times like this when commodity prices drive recycling rate down, and you have seen them go down for the past two years, if we as a country think cycling is good, and i think everyone would agree it is, we need to do something to make sure the infrastructure continues to be built out. we want to have that discussion. tore's a lot of ways solve the issues. we want to do what is right for our customers and gove

we will go to matt miller with a look at the market are what are we looking like now? : we have seen a real come back, mainly because of the price of oil. you will see the dow is now only about 50 points. 60,000, five 92. 1981 the s&p, still a drop. saw a close on friday, 1980 eight, but we were down substantially more before as pretty much everything wait on the indexes. you have now got a situation where tech stocks are gaining. you see oil stocks gaining. speaking of tech stocks, look at our hope that have gains for apple today, because you have a number of news items coming out. first and most importantly of which is citi analyst jim suva is adding apple to its focus list. he still has a $140 price target on the $114 stock that he said because of the fall that he took recently, he is putting it back on the focus list. i was pulling up analyst recommendations. let me go ahead and close out. you can see there are 42 by ratings on apple. holds and two-- cells. -- sells. i think the dive apple took, taking another look at it. today, aof tech stocks big story on netflix

i'm matt miller. pimm: i am pimm fox. a look at how stock markets are faring right now.inning with u.s. stocks, a tumble, sl up. 3%.dow jones loses point a lot of that related to the announcement overnight buys the chinese central bank that they are lowering the value of the yuan, currency, and that is something it's a lot been many docs, particularly those in andng, body -- commodity mining good sector. we conceal what is owing on in germany. the dow at 17,175. lostast two days it has 450 points, a little more. the dax is at 10,924. the dax, a smaller total number but has lost a hell of a lot more in the past two days, about seven points. european stocks are getting crushed while we are down significantly. volkswagen,ercedes, all of the companies that rely on china for sales related to luxury vehicles. so they have to rethink all of that. also, when you look at luxury h sharingers like lvm in the downturn because there is concerned there will not be as much economic growth in china. matt: are they growing 7% when vfw and general motors are growing shares their? that is

now let's turn to matt miller. erik, look at this. matt: why? my doing it wrong? stephanie: no! you have gone out of your leg today. the windowpane consummated with the tight and shirt -- are you going somewhere tonight? matt: no, i just bought, they called me up this morning and asked of i could come on with stephanie and erik. erik: i'm going out to dinner with my wife. stephanie: there you go! i hope anybody knows who wants to take me out to dinner to deliver the best. coming up, terms summer surge. his dinner like not much for me. donald trump shows that when it comes to the republican presidential brace, it is him and everybody else. we will give you the latest bloomberg's politics national cold. ♪ -- national poll. ♪ erik: coming up later today, puerto rico's sole member of congress pedro will be on to discuss medical status and the economic crisis after the commonwealth first on develops. coming up at 5:00 p.m. eastern time. stephanie: for now, a check on this morning's top headlines. firefighters in northern california are trying to stand their ground this morning agains