mark: matt miller, thanks.in a moment. ♪ mark: bentley, the iconic british luxury carmaker is treading new ground. company's first foray into the suv market, and it said to be the fastest, most powerful, and was expensive suv ever built. matt miller said on with the ceo bentley motors and asked about the target customer. >> the very first one we are having delivered to the queen of england, who owns a big property in scotland, and decided to test drive it if you weeks ago. not use it for her hunting expeditions. matt: she own scotland, she can afford it. it is the most expensive suv, it has to be one of the fastest. zero to 60 in four seconds. horsepower, 660 pounds of torque. top speed of 187 miles per hour. matt: who else besides the queen will be able to shell out for this? you're looking at about $300,000. >> starting price of $229,000. you can option it up to $300,000. the clock the cost $150,000, self winding. >> that's on the extreme end. not everyone is going to do that. tot of our customers own six eig

we also want to bring in matt miller. is this enough? this going to be enough to help the stock and help them recover? matt: i think in the short-term it will help the stock a little bit. i'm not sure how much this all help in the long term. it really depends on what they do as far as turning around the business and taking out the people that were responsible for it, installing people who have no connection to it. i mean, you talk about porsche, miller, volkswagen, although hans points out becomes it from bmw, it will still be interesting to see how they do if they do not install someone completely untainted by this scandal. i will say that this was clearly expected and maybe one of the reasons behind the game that we saw on the shares today, even martining out and saying winterkorn needed to go and you have analysts saying the same, so maybe that is why you saw a bigger game this morning then you are seeing now. looks i shares have come down a bit. they were up about 8% and now up about 6.8%. it seems that this was widely expected over

joe: and we will be right back. ♪ matt: i'm matt miller. joe: i'm joe weisenthal. d you miss?" matt: tomorrow's apple event, i'm sure you've been waiting as desperately as i have for the new stuff. i don't expect the new phone to be that much of a leap forward. joe: i'm not really that excited about anything. i don't know. matt: i'm super pumped for the apple tv. joe: something i'm more excited about, the jolt survey is out, janet yellen likes this report because it shows indicators. it's a labor turnover survey. that is out tomorrow at 10:00. matt: very interesting stuff. i will watch you talking about that with my new iphone. joe: thank you for watching. >> from our studios in new york city, this is "charlie rose." charlie: tim cook is here. apple.his ceo of he succeeded steve jobs in august, 2011. he joined apple against his better judgment. early 1998 apple in was there a different than the apple of today. the company have been losing sales for years and was considered to be on the verge of extinction. he has also said working at apple was never an any plans i f

for more, i want to go over to matt hill -- matt miller. matt: this is owned by apollo.bought it for about $2.5 billion. it has now filed for an ipo. filing does not give much information. it does not list the underwriters. reportedas previously morgan stanley and credit suisse will be meeting the ipo and mcgraw-hill will do it after the back-to-school season so it can show investors how much it has improved its revenue and earnings picture since apollo picked up the company. according to reuters, mcgraw-hill education has $1.3 billion in revenue and about $300 billion in every. -- eb itda. that is all we know right now. it is interesting because we are seeing a dearth of ipo's. that is concerning to a healthy economy. we have seen a genuine slow down of late. we are now seeing at least one filing, so that is one positive note on a day when the dow jones industrial average is off 300 points. and we finish the week down almost 4%. olivia: thank you, matt miller, for the update on mcgraw-hill. still ahead, draftkings c.e.o. jason robbins joins us. company'sy sports opening

matt miller will give us a read on the damage. matt, i'm looking at the dow.ng -- picking up like it always does. we are about -- we are down about 100 points. 2.5: and futures are down percent. it is not as bad as futures are indicating. at 1948.own about 1.5% the dow jones down. the nasdaq taking the biggest hit down 2.25%. keep in mind i prefer to look forward rather than looking back. if you do look back, it was week. you have been going to the superlatives all morning. i want to highlight them. august was the worst month for the dow jones in five years since may 2010. the s&p, and almost four years. in the nasdaq three years since may 2012. in august.d month the question is, will be tested the august lows as we enter into september because of concerns of slowing global growth? we had bad economic news out of china and europe. will we pass the august lows in september because of concerns hike? a fed rate everything we heard last week from jackson hole seems to indicate the fed will hike as needed. points, 1.5% in the s&p 500. erik: a quick update from matt

matt: i am matt miller in for alix steel. ♪ joe: stocks sent equities in europe higher. tt: plus, the $72 billion debt map. enough and will there be a ripple effect? so-called liar loans. are we back? ♪ matt: let's kick it off with the markets. i have been hesitant all day to cry massive rally and put on a because we hat obviously had the second worst week of the year last weekend we have seen an extremely volatile market. at the end of the day, it turned out to be a massive rally. joe: it was one of these days where the market rallied in a midday scare and it really kicked into high gear. matt: almost no one i have spoken to has been willing to call a bottom to say we reached a bottom and now we are going back up. even if they are bullish long-term. joe: everyone is hesitant and cautious in the near-term p want to take a deep dive into my terminal 2 look at something not so pretty. it tells you something about the world economy. the reason why it matters, it says that backdrop for the isrging markets, it's what roiling markets everywhere in large part. that's pretty bad.

bloomberg's matt miller has more on the market day.understand, we have 90% of the s&p stocks in the red so far? 95% as we move lower and lower. at one point this morning, we only had three s&p 500 stocks gaining. right now you can see that we are off 400 points. as the session lows for the dow jones industrial average, off 2.5% on the s&p 500, 19 went 23. getting closer and closer to august lows. we were down to 18 point 77 at the lows. look at a couple of the chinese index trackers that i want to pull up. a shares is one. fx i is another one. you can see ishares, she mock, 4.7 5%.he index is down the deutsche bank ex trackers is down 3.5%. thisked to see how closely track, the show engine 300. if you look into my terminal, you can see a little spread -- the show engine 300 -- the show part of the bottom, you can see the spread. it has gotten tighter and tighter. obviously, with this horrible down trade over the last three months. the a shares was down 18% last month. 15% in july. eight percent in june. it has been a horrible summer. m

matt miller is in the newsroom with those details. as changed from the last time we spoke matt: no. markets have plummeted today. we are still around 400 points above the loss -- we were down a bit lower before. still basically 2.5% on the dow, the s&p, the nasdaq down 2%. have fallenthe dow into correction mode. they are both off 10% from their highs. the dow jones had its worst august in 17 years, finishing the worst month in five years yesterday. the nasdaq is now officially negative for the year. even the nasdaq and the momentum play had been so strong, tech stocks have been so strong but it is down for the year. oil with its biggest drop in seven months today. -- the or 348 a barrel biggest drop in seven months, but it was up over the last three days. it doesn't look so bad if you take a look at the five day trade. out -- graphedl oil out. today's drop while severe if looked at in a single day doesn't look so bad if you look at it over a week. oil is down. a lot of the oil -- a lot of the oil movers are down. you will see the bigg

i am matt miller.e about 45 minutes into the trading session. stocks still looking for direction as everybody waits on the fed. julie is back and has the latest on the markets. julie: let's look at the average is in the lack of direction you are talking about. the major averages are little changed. the me look at my bloomberg terminal to verified. the nasdaq very slightly lower. the s&p and the doubt gaining a slight bit of traction. we've got hewlett-packard that is gaining after the coveney says it will cut as many as 33,000 jobs. it is been doing a lot of cutting of jobs for the past couple of years. this is my head its split into two companies. inc.terprise and hp most of the cuts will be at the enterprise unit. the company taking a charge as a result of this and some analysts are saying it will need to do more than restructuring to repair the two pieces. we are seeing a rise in the share. one could call it a rebound because they are down more than 30% on your today. we are looking at general elect

thank you for that, matt miller. u are looking at the worst-performing stocks and best-performing stocks in the s&p hazmat was -- as matt was mentioning. dollar tree off by 7.5%. treeport down. netflix down 7%. netflix was supposed to be one of the big momentum stocks. we will look at the dow in a second. you see any rhyme or reason about what is going on? michael: it is striking to me that you are not necessarily looking at one sector or industry that is leading in. they are scattered across materials, energy, financials, industrial. it is a sort of get into the market, get out of the market quick. it is clear that this is the typical risk off day when people are selling whatever they can. to me, the big question is will we go act and count the lows we had last week? 50 points off of the s&p 500 low and 500 off of the dow low we had last week. will those lows hold is the question that remains open. olivia: indeed. right now, the s&p and the dow are down. if you go to the eternal for just a second, you see the best an

i want to get to matt miller. matt: it looks like janet yellen has another reason to put off in august. nonmanufacturing index falling to a reading of 59 from 60.3 in the previous month. this was better than investors had anticipated, or economists we had surveyed. we got a 59 and anything above 50, obviously indicates an expansion. but it is lower than we got the previous month in july. the isn, not manufacturing composite index walling to a ofding of 59 from a reading 16.3 in the month of july. olivia? >> thank you, matt miller let's get to a check of where u.s. stocks are trading. stocks are moving modestly higher. chinese markets are closed see can see the dow is up nearly 100 points off session highs. overall, the vic's down, less volatility, and steady trading. in the markets is in the euro. you see it right before 9:00 a.m. eastern time. we heard from the central banks in andhe would step would support the european economy more if needed for whatever steps were under his mandate to fight off the inflation in

for more, matt miller. matt: the big takeaway is, after a week like we had two weeks ago, there is almost no recovery. last week, monday was this terrifying drop in the dow. it did not stop the entire month from being the worst august the dow has posted since 2010. the nasdaq had its worst month since 2012. it was awful because of that week where we lost 6% in almost every single index. take a look at some of the big losers. media companies really reigned as far as the point losers. disney kicked it off with the poor earnings report, showing espn did not have the kind of subscriber growth or earnings that they expected. viacom was the biggest loser as far as media companies for august, down 28%. 21st century fox lost 20%. disney was down about 15%. i was just looking at apple for the full month. it lost more than 7% for the month. today, it was down another 0.5%. even though very cool cooperation was announced by john chambers and tim cook. apple will work with cisco to make cisco products work better with a

scarlett: matt miller, thank you so much.nd thank you to chris reiter from our berlin bureau. -- coming up on the bloomberg market day, as thousands of migrants make their way to europe, the eu calls an emergency summit in brussels. we will check in with hans nichols next. ♪ ♪ scarlett: we have breaking news on bank of america. moynihan has won the shareholder vote and can remain chairman of the board. the vote results are preliminary and were announced at a special meeting. it was upheld with 53% shareholder support. inwill have more details charlotte, north carolina but for now, ryan moynahan -- brian moynahan has one and can remain ceo. we were remain tuned. let's look to the markets, so much of that strong start to the week. the s&p 500 gained but it looks like we're getting it back and more. senior market correspondent julie joins me. julie: it looks like we have a perfect storm of various group driven news. you see averages are down more than 1%. what are these industries? look at the map on my terminal. you have variou

i am matt miller. it's get a check on the markets after a slow low-volume day yesterday. we had red arrows across the board and we are back at triple digit moves on the dow jones industrial average. 16,070 is thes, level. s&p 500 down 21, a little more than 1% at 1917. and the nasdaq down more than 1% as well that 4699 as investors weighed more guidance on the fed. -- guidance from the fed. we have coverage of the pope right now that we will go ahead and break you. he is walking to the front of the joint session of congress and he is going to give an historic speech. the last of his visit in washington before he comes to new york city tomorrow. we will bring you some of that speech as soon as he starts to address members of congress. there he interesting attempt not pope political, but the will make statements that are political in nature but he does not mean them that way. that is what we have been hearing about the speech ever since we started preparing for it. he will speak -- will be speaking engli

bloomberg'sbring in resident auto expert matt miller. mr. the industry, but the industry seems in damage control, saying that is endemic to volkswagen, not us. matt: that's right. they are going to great effort saying it is not the entire industry. that it could apply to other carmakers. bmw had 11 times the legal limit of him. other carmakers will have to ach individually, and say whether or not they use defeat devices. told me thisent morning they do not. they will also have to talk about omissions results for the epa and the eu and other countries in the region. one of the interesting things -- what i think is the most interesting -- it may allow fiat to go forward with their plan of combining their company with another great it was widely talked about that volkswagen was butsired merger partner, the volkswagen leaders were against it. now they are out of the way. listen to what they had to say about merging companies. collins --g about consolidation with and very clear about, it is rational and it remains rational. are alsono doubt, we b

let's check in with matt miller. e fact that china has closed for trading for the rest of the week certainly helps as well. matt: absolutely. we are at session highs right now. it is not just two straight down days. we had the worst start to september in 13 years and the worst august for the dow jones industrial average and 17 years. the dow with september 1 and august down 10%. it was really rough. the gains we are seeing now don't really make up for a lot of the losses. we are not seeing the volume we've been seeing over the past couple of weeks. i found an incredibly cool function. you can get this on any index. it shows you the difference in volume broken down by sector. there are 10 sectors on the s&p. the first one is the entire s&p. 11% lower today in volume at this time than we were over the last 20 days. financials are 18% lower. sectors that have better volume right now at this time than they did over the last 20 days were industrials and materials. everything else is rallying on lower volume -- utilities ar

matt miller with the latest on the markets.ades, japan fishing industry counted on demands but they have changed. japanese consumers are eating more pork and beef, so what are fishermen to do with leftover fish? tim fox joins me to talk about -- pimm fox joins me to talk about this. it is about $11.5 billion industry. as you noted, because of the referencee taste of for pork and meat and other sources of protein, fish is kind of going on sale, in terms of japan. what have they done? you have focused on export markets. and a, they, -- a have added more cargo flight to ship seafood. you can see world marine catch is up 3%. japan's catch is actually going down and the amount of fish that the japanese people eat has declined from something along the lines of about 40 kilos down to about 27 kilos. that is about a one dozen years, so combined that with the following i/o of the japanese of automobiles and the 6% annual increase, that is in china, and they are eating more fish in this country a good export market for the japanese fish

matt miller is joining us with the chairman of airbus.dnesday, a special primetime addition of bloomberg surveillance. that is at 6:00 on wednesday night. we will be back in a few. olivia: good morning. welcome to "bloomberg market day." whitey stocks and economy seem to be heading into different directions. as oil prices falter yet again, production is slowing which may be good news for opec. we will discuss how shrinking supply may drive demand higher. good morning everybody, and welcome back. i'm olivia sterns. scarlet: let's get straight into the market because we are 90 minutes into u.s. trading day. stocks are down. consolidating since there biggest weekly advance since july. olivia: all in all, quite out there, .2%. .25% for smp. this is what i would expect to see in the middle august. let's show you what is happening in the treasury markets. the 10 year yield, 2.1. it is 2.18%.

we want to get to matt miller in the newsroom. losses forbig indexes across the board and commodities as well. a lot of asset classes some big losses. not golden treasuries, but i will get there in a second. take a look at the big major indexes. close, a five point -- 500 point laws. we are recovering a little bit from that. averagejones industrial having a tough first day of september after the worst august it had in 17 years. the s&p had the worst month in four years and now we are kicking off september with a 3% loss. a question we been asking since this morning, will we touch the law -- the august lows? the nasdaq negative for the year, down 3%. of just about 3% across the board. take a look at my terminal here. i pulled up a chart with two things on it. the green line you can see here s&pwall street strategist 500 forecasts for year-end. the blue line is the s&p 500 itself. i'm just looking at this because a number of analysts and strategists, adam parker of ,organ stanley brought his down not a huge drop but moving closer to

. ♪ matt: good morning, i'm matt miller.here is not a lot of action ahead of the fed decision at 2:00 p.m. you see equities unchanged across the board. take a look at treasuries. here is where you would expect to see more action. yield down only one basis point. let's take a look at what is making news. while aftera little the decision, the computer traders turn they'll out rhythms off on days like this because the computers cannot understand what we may not be able to grasp either. but we talk to you about unemployment benefits. claims, i should say. they fell to the lowest level in two months. july.west level since the latest reading on the housing market indicate it might be leveling off. revisedigures were downward. housing has been gaining most of the year. opec is bullish on oil in the long run. the cartel expects oil to rise steadily. goldman sachs says otherwise. crude prices low for the next 15 years. 10 republican presidential candidates took aim at the front runner last night. they squared off at the reagan librar

matt miller joins me now with a look at some of the biggest losers and winners early in today's session: first off i wanted to take a look at what is going on in the general markets. we are rebounding but it was a pretty bad day yesterday. it actually was one of the worst starts to a september we've ever seen. going back to 1927, september is a bad month. pulling up my chart i was using so often yesterday to point out september typically looks like. if you want to bring up my terminal. you can see gains today. let me make this full-screen see you can see it better ever move my messages. in the last 10 years the average is been positive for tenths of a percent. over the last century it is been a loss. we started out with a loss of 3% yesterday. up about 1% today so a loss of about 2% there. you have not seen anything that bad but over the past few years you see 2011 was a bad year. more.own even as far as analyst recommendations go, they are having a tough time of it. one of its suppliers which makes chips for go processor doesn't have a positive outlook for q3 four wearable cameras. you

we want to get to matt miller in the newsroom to outline today's moves and the week. matt: where do the inflows go? they certainly aren't in the equity market. take a look here. we see the s&p down 1.5% at the close. the dow jones industrial average down 272 points as you say, a little bit of a comeback because we were down 330. the nasdaq down 1%. take a look at what you see in equities for the week. the dow jones industrial average lost 540 points for the week. we've now moved it up here. the s&p we've now put in the middle. down 3.4% and the nasdaq down 3%. so a very rough week. the second worst week for the year in u.s. equities. take a look at the s&p since the u.n. devaluation, since china widened the band and allowed the currency to drop a mere 3%. that's knocked almost 9% off the s&p since august 10. it's also killed a lot of stocks or at least a lot of stocks have taken big dives since then. a great example, because the casino and hotel company gets a huge portion of revenue from a . inese gambling destination as a result wynn has fallen 30% since the yuan was

with get straight to matt miller.time we were talking to you, we were coming off the highs of the session. it looks like your green tie is not keeping the market up. matt: we'll have come way off the highs of the session. we were up 160 and 170 points on the dow, now just up 85. we are now up only .5% on the s&p 500. if you look at my terminal, i can show you an interesting .unction yesterday, i was messing around with this function and you can use it for internet -- indexes or commodities or even individual stocks to see how different months have done over different years. andcolumns are the months here we have the years going back. the top of the average change. i figured out a way to do it with payrolls which is pretty cool. last month, the consensus for here, which is black right now because we have not got the number, is 218,000. here, ick down one year can show you the average we would normally add for august is 60 3000, 4 hundred. we had a state of rough years here. that is in number i think a lot of people are

olivia: matt miller joins us.ember when i said stage a rally, well, it looks like it or has done that now. now they can go on a four-day weekend coming up this afternoon. the s&p 500 holding barely in the green, but really unchanged after a 1.5% gain. unchanged on the dow jones after gaining 170 points at a high. and the nasdaq is down. bigs jobs number tomorrow, and i guess the market thinks it's very important. we will see how they react to what they expect the fed to react to that jobs number. we do have a big gainer in frontier communications today, up more than 5%. verizon's wireline business in florida, texas, and california. numbers.roke out those because of that, mcquarrie said it likes frontier. it is on one of its focus list and that is why you see the gains there. netflix has gotten absolutely crushed over the past week, basically. i want to bring up a two-week chart and show you the driveway seen in the past five trading days, down everything will day out of the last five. we have seen in the past five

let the with the market stands right now with matt miller. tt: stocks down across the board and it is level, we're going to see pre-close here a loss of more than 3% for the week, making this the second worst week on the s&p all year. 250jones industrial down points, nasdaq falling about 1%. i want to take a look at some old economy companies that are taking big hits, starting with caterpillar, the world's biggest maker of earth moving equipment. it is down on a downgrade from ubs, down -- i'm sorry, from baird, you can see it is down 2%. it is interesting, baird downgraded caterpillar because of joyce wearable third-quarter results and joy has to its 2015 forecast will stop a dozen down great joy.wn take a look at global. of 2%. joy got killed yesterday when a downgraded its forecast. everyone has come out cutting their price targets. baird says $24 instead of $50. this still has the stock at an outperform. ubs keeps it at neutral, but cuts the price target to $20 from $40. you are seeing a lot of pain in anyone who relies on the mining secto

. ♪ olivia: i'm olivia sterns here with matt miller.ut theocks closing week sharply lower if they don't rally. losses accelerated across the board after that jobs report. david sigrid is standing by with the latest on the market. just looking at the major indexes, s&p 500 down 35 points, about 2%. the s&p here -- losses this week around 3%, looking at the dow, down 2% as well. if you look at all the down stocks, all 30 of them down by about 1%. this all goes back to this jobs report. i went to go to my terminal if i could, to the imf map. just looking at all the sectors, how they're all down about 2%. let's see how banks, real estate insurance -- they are the losers of the day, they had been for most of the day. look at the dollar. it was upgraded to a bye-bye bank of america -- buy by bank of america merrill lynch. be someorts there could takeover interest there, as well as area trading at 794. that is about 4.8%. back to you guys. imap is to be one of my favorite functions. olivia: we are going to talk about the job market. the job ma

i am mark crumpton with matt miller. where it unveils a new iphone and new products. it takes place tomorrow in san francisco. matt: cory johnson joins us from san francisco. found some you have details out, or at least, some possible details about the new phones dimensions. what are they? here is toe blog is be believed, and they've been pretty accurate, we are expecting an upgrade on the iphone, from the six and six plus to a success and success plus. chips, better cameras, better lge connections. that's the big announcement they have been spending weeks preparing for at the bill graham auditorium in san francisco. they have been spending a lot of time suggesting that maybe there is more going on was siri, maybe there will be an apple tv that might be siri empowered, to the point like the amazon product on the market where you yell to your remote control, hey, siri and it will power up siri is a way to guide through your television experience or your apple tv device. that device has been on the market for many years, a

matt miller is looking at some of the action. the dow off session highs, but still up on the day. tt: the dow, the s&p, and the nasdaq, all still up, but it should be pointed out they are not up on the kind of volume we saw over the past two or three weeks. it is about 10% less value than we saw that. the s&p 500 at 1929, well above the 1867 lows we were watching yesterday. the 1867 lows were those from august. the dow right now now adding 141 point. it had been of about 100 points more at its high level. let me take you to some individual stocks. first off, disney. and were raised to an outperform -- or the coverage was started at out perform. film says that disney's studio and its licensing business are going to do better than a lot of analysts are although the consensus 52-week price target is actually $119, so they are still a little below that. target also got an update -- upgrade from piper jaffray. adjusting enough, either says -quarter sales at target will be helped by the "star wars " toys they will start selling on friday. disney is the owner of the "star wars" franchise,

i want to get straight to matt miller in new york. it is like a bad movie. first it seems like things are coming back around and then it all goes back down again. matt: exactly. we lost 500 points on monday and it looked like we were going to gain it back by the middle of wednesday. however, that turned around and now we're down for the week about 560, 550 points. so pretty rough on the s&p as well. a drop of 3.4% for the week. and netflix has just gotten absolutely crushed. i mean, it's not fair to say the stock has been completely destroyed since year to date it's still up more than double. but it is in, officially in bear market territory, since it's come down from its august 6 highs more than 20%. a lot of the problem is competition here. i mean, so much talk has been about apple and apple making its own content and that could mean it takes a bite out of netflix' lunch. but you also see ali baba getting involved in the same kind of service. you see hulu offering different services like commercial free television services for $12 a month. so competition co

i'm matt miller. pimm: and i'm pimm fox. the second is the longest reigning monarch in british history. while she has ruled over and and resident of time of wealth creation in her country, her own royal fortunes are maybe not so great. matt: here now to build a crown jewels is tom mcgrath -- tom met cap with us from san francisco. tcalf. me part of this is she has lost her own wealth and land. the rise of seen billionaire entrepreneurs and oil sheiks. and this has largely been inherited the family and has stagnated. we calculate her fortune is about $425 million. but when you compare that against the world's richest people today, that's a fraction compared to when she ascended to the throne in 1952. matt: can you provide us with details of the analysis based on asset classes? tom: this is a classic example of someone who is asset rich but cash poor. we calculate yes has about $425 million, with $170 million in assets which she inherited from her mother. that stuff like average a eggs and furniture in the houses. she has a co

let's get to matt miller for the big stories of the market day. ing another leg lower on the market. matt: that is probably the big story on this friday. after the jobs number came out, depending on how you interpret it, a lot of people are selling this market. a lot of people are short this market. this is not an incredibly depressing picture unless you are long. the dow down 300 points. at 1918.00 down 1.3% i'm watching the 1867 level because that is the artist close -- the august lows we hit on black monday. we had a 500-point loss on the first day. it looked like we would get a rebound. we will be down 3% for the week. on lackluster volume. look at my terminal. i have what dan curtis pointed out. you can run it on any index that is big enough to have subgroups. what you are seeing is volume compared to the 20-day average, but it is all negative. every single one of the 10 s&p industry groups is trading less volume than it was on average the last 20 days at this time. industrials,s and which had been the volume gainers over the last few days bec

matt miller: i see that there are some houses that are in pretty bad shape around here.ere we see challenge, we also see opportunity. this community is ripe for being revitalized. we are taking that leadership role. matt: why don't we go see the model home? david: fantastic. this home comes with a guarantee of 10 years of zero electricity and zero gas payments. these are 100% natural gas powered homes. natural gas is fuel stock for the power cells to make electricity. we are actually producing more electricity than the home uses by a pretty significant amount. the way that we contribute to zero energy is we sell back to the grid, and we pay for the natural gas. this is the production. this is how much energy or electricity that we are producing. right now, we are using 1.6 kilowatt hours of electricity, but we are sending back to the grid 2.8 kilowatts of electricity. matt: you get paid to do that, when you send energy back? david: we get paid to sell it back to the grid. matt: so you can pass the savings on to the consumer. they get a better house for a lower price. dav

scarlet: matt miller, accuracy. tty: the german government says it will send an investigative team to vw headquarters this week to speak with officials and examine documents. matt is here with us, hans nichols is in berlin to tell us more with the latest of elements. -- venture corn released a statement. - to fightsays he plans for his job, he's asking for trust. he said he doesn't have all the answers to the technical questions, but this is clearly a ceo that is girding for a battle. onthe next 48 hours, wednesday we have a supervisory committee of the executive board. this is a normally six person board, they're are down to five people right now. they meet on wednesday night. they present things to the full board, which is equally divided and laborvestors representatives as well as representatives from the states where volkswagen is .eadquartered we see what happens of the full board on friday. it looks like dr. venture corn is going to fight for his position. autos effected is 11 million. the company produced abou

number three -- i picked this for matt miller. contractwagen ceo's extended through the end of 2016. offll remember, he squared with feet. he has done a tremendous job, truth be told. matt: he has. i am only joking a little bit because the volkswagen brand was outsold by subbarao. -- subaru. erik: i cannot blame americans for not wanting to buy the pas sat. matt: it is soviet-era. volkswagen has some outstanding bugatti,amborghini, so, he has been a great job. and if you face off against ferdinand and win, he is the first and only to do that. erik: what about number four? matt: general electric -- the deal might get to look from regulators. ge will sell certain assets including servicing contract and intellectual property to an italian rival. erik: massively important for jeffrey immelt's effort to transform ge back into an industrial company. in 10 years i promise you they will go back to a giant conglomerate that has a financial company. i started with siemens 10 years ago and it is the same thing. executives like to buy things b

i'm matt miller. straight to the stories making news at this hour from the bloomberg terminal. ben carson, republican lyricale, says that correctness is the reason he's taking heat for saying that a muslim should not be elected president. he says it is his view that anyone wanting to be president must embrace the constitution and american principles and that anyone who does can be president. scott walker says that he is not the only republican who should be quitting the race for the white house. the wisconsin governor ended his campaign yesterday after falling in the polls and struggling for donations. walker: i encourage other candidates to do the same so that the voters can focus on a limited number of candidates who can offer a positive, conservative alternative to the current front runner. tot: a positive alternative the front runner, obviously referencing donald trump. walker never mentioned trumped by name. at one time he talked to the polls in iowa, but recently he felt to 10th place. the obama

i am mark crumpton, with matt miller. matt: let's get a look at the markets. they are red across the board. the s&p 500 down 1.5%. 19.59 the number. nearly 300ing points. mark: it gives one pause, because what are the market saying yesterday and today about the federal reserve's decision not to raise interest rates? mark: some could say they are concerned janet yellen doesn't have the ability to raise interest rates, are we going to be stuck here forever? is the u.s. japan? treasuries, you can see in -- investors are running for treasuries. matt: the to your is the usually -- two year is the most sensitive. the 30 year is down at 2.94%. and into the 10 year as well, the yield down five basis points at 2.14%. oil, oil has at been interesting to watch today, dropping amid a broader selloff. the fed was to global risk and it's really the lack of inflation that is the problem for janet yellen. that's what we see in the oil markets as well. i'll bring it up myself. let's take a look at oil. here's a one-day look at oil. can we pull up my terminal? one-day look at o

i am pimm fox here with matt miller. matt: we are at session highs right now.e for 59 points on the dow jones. we have not seen an intraday level like this since thursday. we have not seen a close like this since monday. , if we close back at this level, what we lost last week. gain as500, you see again well. i could go on like this. pimm: the movie in the dow led by general electric, who won approval today of the $17 billion all stem -- alstom purchase. they will have to sell off some of those turbine businesses to an italian competitor. let's look at how u.s. treasuries are faring. a little bit of a cell of going on. the selling continues. look at commodities. oil prices moving higher. we were learning earlier how even though we see this decline in nymex crude, this has to do with settlement from yesterday's holiday, playing catch-up. as a result, settling new the highs of the trading session. matt: the kentucky clerk jailed for refusing to issue same-sex marriage licenses has now been freed. kim davis walked out of jail short time ago. she had been behind ba

let's go to matt miller for the big stories of this market day. oned what a difference a make days -- a day makes. we took a pounding yesterday. what about today? matt: we did not take a pounding just yesterday, but all of august. oflost really almost all 10% the correction that we have seen in the dow jones industrial average they came from wendy in september and two weeks in august. we are making back a little bit of that but not very much. you can see the smp backup 1%. it has been down 9% in august and one september to. to see if itching will test the august lows. the dow jones putting up 200 points. kind of at the highs of the session. oil.because of take a look at crude oil and you will see we were up in the morning, dropped back down, and came back pretty hard. and we are backup. this chart is a little bit deceiving. yes, it's as intraday, but it goes back to yesterday. reopened in new york in positive territory and that is helpful to oil stocks. the only loser is chevron because of this dip. because oil came down here. at the same time, we

let us get right to matt miller. ake a quick look at how the major averages are doing right now after the big drop we had yesterday. the worst beginning to september and 13 years. we are coming back a bit -- a gain of half a percent on the s&p gives the dow jones industrial average of 117 points and the nasdaq of most -- almost one percentage point. joining me now is chaired of the bcg partners. he has a take that you might like. maybe this is all behind us from a volatility perspective. index had its biggest monthly gain of all time in august good and actually happened anything it was too much. >> absolutely. there was no reason to justify the selloff in equities. we talked about how the price of vix options hidden all-time high. people were buying these calls wherever they could. now we are seeing a real falling out in markets as the indicators hit a new low today versus the recent spike. this suggests as well that people are coming in to start to sell some of this and it is finally coming up in the market action to

david: i'm joined by matt miller. your reaction? e cities based to congress to offering kurtzman to those in congress -- offering encouragement to those in congress. referencing the first of many of our founding principles. he made a reference to religious freedom that is laid out in the constitution. it is been a subject of the news lately is a ben carson's statements on the possibility of a muslim president. the pope does not want to get involved in politics but he does make statement after statement that is politically loaded. margaret, i was wondering about your take on that. margaret: it was hard to hear you because of the choir. margaretu mentioned that he spoke about immigration right from the get-go, saying that as the son of an immigrant family he is happy to be in a country that is so warmly embraced immigrants from its first days and built by those immigrants. largely built by people like his parents. i would to get a tim, we spoke yesterday on certain -- " we'vellance. talked about immigration and climate change. cuba is

i want to get to matt miller. ike janet yellen has another reason to put off in august. nonmanufacturing index falling to a reading of 59 from 60.3 in the previous month. this was better than investors had anticipated, or economists we had surveyed. we got a 59 and anything above 50, obviously indicates an expansion.

let's get right to matt miller in the newsroom. matt: the total return fund has fallen below $100 billion in assets for the first time since 2007. the total return fund at the end of august, 98.5 billion dollars. this is after 28 months in a row of redemptions. net outflows at pimco because people were concerned about interest rates or bill gross leaving them if they have been pulling money out since april 2013. it is the first time this find, which was a $300 billion fund at its peak, the first time since 2007 before the crisis it has worked with less than $100 billion in assets under management. pimco total return fund now has lower than $100 billion in assets for the first time in eight years. investors pulling money out for the 28, the 29th month in a row of outflows. doesn't look fantastic unless they feel like working with less money. bill gross says big is beautiful. alix: he likes big better. thank you. i want to take a dive into my terminal to look at what is really going on in the economy. you are looking at the import of

. >> matt miller in the newsroom. >> a look at top stories.irst-time claims for an appointment benefit of more than expected last week. the start of the new school year may lead to volatility in the jobs data. claims are still below 300,000, which indicates employers are holding on to their workers. >> market turmoil did not keep the biggest part of the u.s. economy from moving ahead. service industries are growing at nearly the fastest pace in a decade according to the isn nonmanufacturing. betty: consumers grew less confident in the economy last week. the bloomberg consumer comfort index dropped slightly from the week four. surveys were the done during the market selloff. you can imagine that is why. coming up, forget the shaguar. mark: the company slashing prices and rolling out cheaper cars. a cheaper jaguire. we have to see this and so do you. ♪ mark: welcome back to the bloomberg "market day." i am mark crumpton here with betty liu. guire cutting prices and rolling out to new work lower-priced vehicles today. mark: the road ahead is stil

betty: i want to go straight to matt miller who is in mobile, alabama.see a lot of opportunity. how many jobs will this investment creates in alabama? are upy the times they to full production they will have 1000 people working in this factory alone, airbus employees as well as contractors and subcontractors putting the other anes like this one behind me. this one slated to go to american airlines. another one going to jetblue. eventually they will be building at a time in this building. 48 per year, adding to the global production, and that will help them meet demand. they expect demand in the u.s. to be big . 47 aircraft. airbus gets 60% market share from the single aisle aircraft. the biggest market in the u.s., so it should be a decent amount of employees adding to the 3800 they have here. betty: a fairly decent amount. what about other investments? did he talk about where else they may be going for growth and where else they may be putting? --maybe putting their money? military one thing the side of the business. space and defense are the guys that

we head over to matt miller. volume is really falling off.d theis markets do not look healthy at all as we get toward the close. take a look at the indexes. read across the board. point one. down the dow was up 160 points, and the nasdaq was up 1%, now down half a percent. let me show you the imap, the map of the sectors of the s&p. it was all green and has now turned already. green oning up this the s&p. it breaks down the index into 10 different sectors, and then shows you if they are down on volume or up on volume in relation to the average of the past 20 days. as you can see, almost every single sector trading weaker volumes that i was over the past 20 days. the same thing yesterday. yesterday light and today even lighter. i want to bring up a chart bloomberg users will know, the chart. the laggards and gainers as far as what is going on in the s&p index. myill put the change here -- point is i was going to change over and show you the percentage losers versus the point losers, but i'm having trouble navigating my screen, severing of the

we want to check in with matt miller. this is coming off the heels of the brutal day yesterday. tt: it is hot outside but not in the markets right now. there is a cooling off periods after the 500 point drop yesterday. we saw duringps the hot month of august. all of the majors are up right now. percent.pling bac link back haa w is still up 100 points. it had been up more earlier in the session. check out the spread here on my terminal. it shows you the different sectors that are rising. almost all of them, basically a gaining.10, are one of the only gainers for most of the day amid the sea of red, today he joins the pack it would have been with yesterday and other energy stocks down as well as oil turns down. look at some tech stocks. intel is coming out with a new chip that is supposedly much faster is dollar and use less energy. can plug it into a screen or monitor or tv and run it like a thumb drive. i also want to talk apple. there is some interesting stories. gene munster came out and sent a 60% chance of a car. it will take 10 years rather than five years but it would still