let's go to matt miller. e saw a big drop in oil, we saw a huge drop in futures. now we are seeing losses across the board in the cache -- in the cash market. a quarter of a percent on the s&p 500. the remember, we are still holding close to 2016 highs here. take a look at the individual movers. we had been talking about the valeant/cargo story. story.ant --perigo for the quarter, they did not make as much. for the full year, they are going to make much less than expecting. shares getting clobbered today. down 13%. take a look at the hostile bid. a 13% premium. you can see, we are almost there and the cash trade. wasn't expecting their invitation to come over for talks for even inviting themselves over. tribune says now they are looking at it. its 2016reaffirming view. first quarter missed. options down six points in the early trade. there has been a decline in printer sales from xerox. blueprints things anymore? -- who prints things anymore tha? i never print stuff anymore at home. seems to be a problem for x

vonnie: matt miller has a chart. at i showed you guys at 7:00 -- the chart i analysts and00 -- down the expectations, or nbc leasten sent -- or at they have been since 2011. of can find a wealth earnings information. that we have been in an earnings recession. this chart shows you actual ,arnings up to this line here and then the forecast. you can see over the past three quarters, four quarters, we have had a drop in sales over the last three quarters in earnings. more drops tot come in this quarter and the second quarter. they are forecasting growth in the second half of the year. as you know from the previous chart, they will bring the forecast down rapidly unless we have a turnaround in the economy. steve, what you think about that? steve: the analysts always to overestimate earnings and then have to bring them down. secondly, the fundamental issue is this -- part of what has driven corporate earnings in the u.s. over the last couple of years has been expanding profit margins. i think the jews is out of that lemon

let's cross over to matt miller for the stocks to watch. matt: procter beating earnings estimates.amble beating earnings estimates. ofare looking for a mean $.82. sales of $15.8 billion. you can see procter & gamble moving up 2% in the premarket. this is one of a slew of companies reporting earnings today. 40 nine companies are reporting in the s&p 500 alone. 500.almost 10% of the s&p 1.3 billionr at euros. chrysler beating as well on the earnings side. missing the estimate of 27.8 billion. beating on earnings and missing on sales. t-mobile coming out, beating the street. a 7th street corridor of adding a million new customers for t-mobile. adding customers at a pretty quick pace. whirlpool also coming out with earnings. you can see whirlpool actually moving down in the premarket. which is merging with dow chemical and firing 10% of its workers boosted its full-year earnings outlook. doing better but decimating the staff. the company is down 1%. eli lilly reporting sales that topped estimates. the drugmaker said it had a net income of $.41 a share. they are really unchanged in the

let's check in on the first word news with matt miller. matt: thank you. serious president -- syra ia's president has floated already. he and his wife cast their ballots at the assad library in damascus. parliamentary elections in syria are held every four years and they say the boat is constitutional and separate from peace talks in geneva. the results are expected thursday. tax officials from around the world are meeting in paris to discuss the fallout from the mask leak of offshore account data from panama firm. the panel disclosures have shaken the rich and powerful by exposing how they use networks of shell companies to dodge financial operations. few further details about the were events attendance released, and the meeting was closed to the media. marchmor more turmoil in brussels. today, a strike at the airport is disrupting flights and it began over a dispute about extending the effective working age of traffic controllers to at least 58. of oregonff markley is endorsing bernie sanders for president. he is the first senate colleague to endorse a c

i want to talk to matt miller. matt: this is a chart that we have of the outstanding loans here, the new monthly loans. you can see the blue showing that they have soared up to levels higher than 2009. sales up 70% home year over year, this new credit could explain some of that. david: the white line is gdp, right? that wanders down, the credit surges up. matt: that's right. they are trying to boost gdp with that. david: how big is this issue? enda: the near-term narrative is one of stability, but economists are worried that they are resorting to old playbooks, increasing spending, relying more on debt and borrowing, moving away from the market-driven reforms that are needed to put the economy on a more stable growth future. the worry is that growth has taken over for now, but down the road they may be storing up bigger problems. david: thanks for much, enda curran, chief economics editor in asia. what iso talk about going on in china. let's go back to this credit thing. credit in itself is neither good nor bad. how

let's go to matt miller for a look at stocks moving ahead of the opening. the company expects car sales to drop sharply in 2016. it also expects a huge impact on its financial from the current crisis. it just came out a few minutes provisionssed its for this diesel gate crisis. 16.4 billion euros. volkswagen is close to a $10 billion settlements with the u.s. justice department. that is beyond a huge rally in shares over the last 10 days. over today, investors are taking money off the table. amex is up 6% since monday on paper, the best in three years. other stocks coming down, deutsche bank cut the stock to a buy, - from a hold to a you see amex down 7%. visa also down. coca-cola could be the next big target for ab inbev to create ega bad of -- mega bev. it would get $100 million in revenue by the end of 2020. it has only got six alien dollars right now, but coca-cola has got $43.81. you can see shares up a little in the premarket. back to you. jonathan: thank you very much. going down, wees will look at indexes as we give you the real tory and keeping an e

let us to pick back a little bit and get to matt miller. s gains across the board. the s&p 500 up 2/10 of 1%. you saw the dow switch down to a drop of 31 hundredths of 1%. the nasdaq is still a gainer. if you look at my bloomberg, i have the imap up divided between winners and losers. we see all green here as far as the 10 industry groups. you only see a touch of red nit and consumer discretionary and consumer staples. health care, which is odd, because in health care, you have some really positive names. you have unh, which did well. you had j and j, which beat earnings estimates and lift its full-year forecast. johnson & johnson only up 6/10 of 1%. unitedhealth group up 2% right now and they are pulling out of five states. i expect that has some impact on them as well. harley davidson doing better was looking for. their keeping their forecast for the year. in acycle sales have been weak spot. harley davidson makes more motorcycles and other manufacturers in the world put together. that is how much it dominates the big bike market. take a l

in battle of the charge, a face-off with the man himself, matt miller.oing to be looking at the performance of middle-class stocks, can't wait. ♪ mark: time for the bloomberg business flash, a look at the biggest business stories in the news right now. greece saw things rising. christine lagarde says the organization is a good distance away from the deal to lend more money to greece, which has europe's largest debt. do not miss our exquisite interview with christine lagarde tomorrow at 4:30 eastern, 9:30 london time. bloomberg television, radio, and bloomberg.com. fedex hopes to sell 3 billion euros of songs in its first non-dollar debt sale. it will help the company pay for its planned exposition -- acquisition of tnt express. thex is taking advantage of lowest boring cost and 10 years for foreign companies. two of the world's fastest growing airports, dubai, and chicago o'hare, but to each o'hare ishree spots, at 4%. the busiest airport in the world is still atlantic. beijing is number two. that is the latest business flash, betty. let's do it. our glo

matt miller joins us to talk with the ceo. >> a pleasure to have you on the program.et's start with where betty left off. she said buyers are in the nostalgic side of things. you have accolades for your engine design as well. what is it you think it is that causes indian to be such success for your? guest: springfield masses is where it started in 1901. really what we have done, what the motorcycle team has done since 2011, we have introduced nine new bikes. over 180 deals to the united states. and really an alternative to the legendary bike. we found with a great performing bike that writes better than it drop, even though it is dead gorgeous, we still have a very small following. we are off to a very good start. >> you started with a blank canvas and you gave the team enough money to invest as they saw fit. are you doing the same thing not bringing that market. your 156 get you eventually. we are excited about the octane. with the american muscle positioning, we have a great opportunity to accelerate growth in that business. we spend a heck of a lot of money. we do

let's check in on the first word news with matt miller. matt: a powerful earthquake with the preliminary magnitude of 6.5 knocked over homes in southern japan. witnesses say water supply was cut off. police said people may be trapped in the rubble. there were no immediate reports of casualties. officials say there is no risk of a tsunami. japan's meteorological agency says the earthquake was centered , northeast ofrict the only nuclear plant operating in the country. belgian prosecutors has ordered -- and five others arrested in connection with the attacks and paris and brussels. he has admitted to being the man in the hat, seen leaving brussels airport the morning two suicide bombers detonated explosives, killing 16 other people. blewther when a bomber himself up on a subway train. the new york primary is days away and presidential hopefuls hillary clinton and bernie sanders will return to the debate stage tonight. it is being viewed as a crucial opportunity by both camps. to break atrying seven state losing streak. the secretary of state

matt miller, on the charts, what does all of this mean? more than three times their market cap. chesapeake is worth $3 billion in market cap and their debt is $10 billion. what we have done here is taken this function on the bloomberg network and you can see -- let me move my coffee mug away from the debt line, i'm sorry. it's not coffee. i drink tea. jonathan: carry on, please. matt: this is the revolver that is uncapped. you can see in green, uncapped revolvers. $4 billion and that made the market happy. they awarded the entire company to keep this revolver open. so they have this money until 2019 and they haven't cap any of it yet and that is key. that is why we saw they share jump yesterday and why the yield on their debt dropped. we have that chart if you want to pull it up, here we go. chesapeake debt versus oil prices. you can see the yield on their most traded bonds in white. at one point it was yielding 140 8%, now, 28%. undamentalsgly f looking less ugly but this is a company that is struggling to exist. what is the outlook for ch

that is what we will talk about next. ♪ ♪ matt: i am matt miller.berry's ceo. ♪ is "bloomberg ." i'm vonnie quinn. we are going to begin in manhattan. but the first time, the average price of the manhattan apartment is $2 million. reflects a move in high-end bind spending. a three weeks bidding war for starwood hotels appears to be over. anbang withdraws its bid. that leaves it open for marriott . tesla motors is making a bid for the mass market. it the electric carmaker unveiled its model 3, a $35,000 sedan. elon musk said the company has received thousands of reservations in 24 hours. that is our latest business flash. the line seems to have shifted from the apple store in front of tesla with a serious to $35,000.500,000 spots around 6/10 of 1%. my car to be driven by explosions. i am old enough that i appreciate internal combustion engines. tesla motors is a fun car to drive and one investors love. thisve been talking about -- tesla shares in the past five years every invested dividends of 800%. total return is good. hotel stocks -- we have t

about 25 seconds at the open let's peel some of it back and get to matt miller. ork we are looking at stocks that are unchanged at the open. the dow jones industrial average losing about 10 points. s&p and nasdaq hardly moving. if you dig in and look at the intraday trade on the s&p futures i think it is interesting. when crude was coming down people were trading down on stocks as well thinking we still had these two trading in tandem. around 5:00 a.m. i was arguing in the morning meeting we should be leading with stocks give up the ghost as far as the rally is concerned. proving me incredibly wrong, although not by much, stocks continue to rise. i think the haven trade is interesting. we have covered that well on bloomberg as far as the move into the end. yen.he move into the the 2100 level of the s&p. i think it is fun to look at these big round numbers. luckily we have a famous market technician on who will tell us what he thinks in a minute. over 2100 yesterday for the first time this year. the s&p gaining about 3% year to date. 3.5%.nes up 18,052. big mo

let's cross over to matt miller. matt: we are getting more earnings out. a slew2 of companies. 181 of the s&p 500 companies are coming out this week. conoco phillips with an adjusted loss of 95 cents per share. i want to also point out viacom has come o ut. viacom is looking like 76 cents for an adjusted eps. we were looking for 72 cents. can i point out something with my e.a. screen? ford's earnings, net income, was billion. that is more than double what they earned the last quarter. i've adjusted all the s&p 500 companies that reported so far by growth. the only company that has had better growth than that in profits without cutting the top line growth is facebook. out of all the s&p 500 companies, facebook and ford as far as profit growth. that is about as new economy an old economy is you can get. david: mark fields, you are about to talk to him. mark fields was to have a stink about ford as a tech company. carol: are they going to work with google or apple to produce a car? matt: he assumes apple is making a card. siliconeen to ford's valley office wh

we will take a look at the dollar moves with matt miller. st wanted to show you first of all, the dollar index that a lot of people think of, itedxy index and the bloomberg xy and the bloomberg and blue. been wiped and bloomberg and blue. by the way, the dollar, such incredible strength from basically 2012 to 2013 until the beginning of this year and now down 7% or 8% in 2016. jonathan: that is what i think is interesting because the headlines for fx market was the dollar at a low, but i think what is interesting is what is driving the dollar to where it is matt: and it is not just the fed. what i want -- and it is not just the fed. take what i want to do is a look at behind the indexes and set up the waiting. if you go to dxy go on bloomberg, you can see the dollar index. you pointed out this morning, i had never known that it has a massive euro weight in here because the index goes back, as -- to the donid of time, back in the day, there were european currencies, so the euro is 57.6 of the dxy index thethe yen only 16% and pound only 12% an

betty: matt miller, thank you. ♪ oh, hi!he monkees here, getting ready to host the flower power cruise. (announcer) we're taking the love generation to the high seas and reliving the '60s. we'll celebrate that unbelievable era with the music that made it so special. there'll be over 40 live performances featuring eric burdon & the animals, micky dolenz, the monkees lead singer and cruise host, the 5th dimension, the lovin' spoonful, rare earth, spencer davis, three dog night, and many more! imagine enjoying all that great music on the fabulous celebrity summit, leaving fort lauderdale and making ports of call in jamaica and the bahamas. you'll be back in the days of bellbottoms, peace signs, and so much more, with special theme parties and 20 fun-filled celebrity interactive events. cabins are filling up fast, so come on, relive the era you remember so well. the flower power cruise, february 27th, 2017. let your freak flag fly. don't miss the grooviest trip at sea. betty: 11:00 a.m. here in new york, 11:00 p.m. in hong kong.

little off the charts with matt miller. ♪ you listen to goldman sachs, it's time to sell asian currency. matt: it's really an emerging markets call. let's take a look at what emerging markets stocks have done. and of january, analysts got very bullish on emerging market stocks. i have that chart of the emerging market index. in white, it had come down and really got hammered along with stocks in europe. in january. all equity markets got hit hard. emerging markets stocks have ramped back up. david: a number of people on the program have said it's time to buy. matt: it has been a good consensus call. they ran up through their 200 day moving average. they are bumping up again. people believe in this. i have not wrapped my head around technical analysis but the more people that i into it, the more the market calls it true. i wanted to talk about currencies. the goldman sachs call is on currency. there is a chart of the momentum in emerging market currencies. you can see that it is strong, up 6.3% in march. this is emerging market equities that have been strong and the to magnify each other

miller. -- meeting. mattwe kick it with goldman sachs, which is said the lack of consensus is a negative, but it things that opec will recover in the short-term, especially in light of the kuwaiti oil strike. morgan stanley at a risk of higher opec supply. i think these salaries can push through and rebalance by 2018 -- the saudi's can push through and rebalance by 2018. supply and demand is in balanced by 2016, i think we will hear that as well. rich, in one word, where we going with oil? richard: it's very important, the oil market is stabilizing. and supply and demand are coming into balance later this year. david: rich chlorella from pimco, thank you. verizon is the leading suitor for yahoo! after several bidders dropped out. that's coming up on "bloomberg go." ♪ john: this is "bloomberg . it is a beautiful day but it was not that pretty for indexes. let's take a quick look at futures. doubt futures erred down by around 43 points judged dow futures are down around 43 points. dax is relatively unchange

let's cross over to matt miller for some of the calls ahead of the open. iously am a big fan of the brand and own a couple of the bikes. shares are spiking after ubs said they expect marseilles to impress. retail sales at the deal or level will likely climb 10% because of the warmer months. -- they will come out with earnings next wednesday, and i will interview the ceo and find out what is driving sales, or not. are also heading to a third straight game. cobbler also sees the fitness were maker with positive guidance for the following quarter, that is what so key in moving these stocks. the guidance really does it, not the backward looking numbers. because of encouraging early sales for its blaze bands. foot locker shares trading higher after piper jaffray getting more details and more data out of that team survey, it says this stock is a by, and used to be a hold. it may the said upgrade because they samuel and you that semiannual team survey. there is what they got out of footwear. but was a positive outlier and footlockers number one vendor, nike. i've

john: i want to cross over to matt miller because as companies get a grip on cost management, the creditcatch up with what happened 18 months ago. matt: this is a company lost its aaa credit rating for the first time since 1930. debt toook at this evident -- debt to have to -- ebitda. four times is the amount of times the debt pile has grown in four years. -- really this is want a lost its aaa credit rating because it was one of three companies in the country that had a aaa credit rating. do other oil companies look like this as well? do they have a soaring ratio? >> you look at the expiration for some companies, they have massive loads of debt that they are building through these current cycles of low prices and the major oil companies, exxon, bp, they have all taken on debt because at the moment, they still need to take more to pay for the investment and the dividends. when oilnly be recovers to the $50 range that these companies can begin to take on some of that debt. -- bp in the past was aiming for that leverage ratio of about 20%, now saying they will manage their debt with a lever

matt miller has more. tt: a yuan agency used parachutes to airdrop food a to aide to a city -- syrian city under siege. it is enough to feed 2500 people for one month. more airdrops are planned. brazil is deploying thousands of troops in the capital city of brasilia this week. the government is hoping to prevent violent clashes as congress holds both on the president. of the 's special committee will begin voting today whether to move forward with the impeachment request. the full house could vote in less than a week. 15 former american bar association president are joining the bush to urge push to supports obama's supreme court justice nominee merrick garland. he is adjusting to bring up politics in the courts that materially hampers the operation of the judiciary they say. republicans have no plans to move forward on violence nomination. -- garland's nomination. a shocker at the masters. finishing at five under for the tournament, the englishman's victory was made possible by a collapse by jordan spieth.

let's go to matt miller. ng me because i'm trying to buy an aluminum gas taken japan commanded killing me. let's take a look at these assets, starting with equities. should be pointed out that the u.s. is coming off of the 2016 high. two days ago were where the were, oil the major indexes are crushed a five-week lows. so it is rougher in europe than it is over here. let's take a look at a bunch of the asset classes that are likeg markets and it seems we see the correlation come off here. but it is moving back a little bit. kreuz took a dive on friday. gold is coming back of now, --oming a haven tried to back now, becoming a haven trade. right now, 220 seven, down 18% at the kickoff of trading this morning. pfizer of 1%. twitter, disney, stories we need to touch on. twitter has won the right to stream the nfl. workot sure how that will in the 140 character limit. it does not make sense to me where i would see that feed. , down right now 2%. the ceo of steps out. he had been seen as the successor to the ceo. the

let's get to matt miller. matt: some company news. american express rising 3% in the premarket. the biggest u.s. credit card issuer posted a third-quarter profit that beat analyst estimates. customers are increasing spending, good news for a company that has been hit recently by a loss of deals. for example, with partners like costco. let's take a look at mattel. it is down this morning. in the midst of a turnaround, kind of stumbling after the first quarter loss. the estimated week sales from the flagship rb toys -- barbie toys. they are losing partnerships with star wars and marvel toys, so take a look at the shares down 6%. in sweden, ericsson is getting crushed after first order sales missed analyst estimates. the stock is down the most it has been in four years. this is a $150 billion company. not sure everybody realizes in the states how big ericsson is. that andt get past raise their revenue. as a result, the stock getting killed in sweden. david: let's talk about volkswagen up about 24% over the last two weeks. a person with direct knowledge in the matters is that the ge

matt miller has more from the newsroom.att: belgians transport minister has resigned after the leak of a secret eu report detailing lapses in airport security oversight after the bombings in brussels. the controversial document says security measures at the brussels airport were flawed and cited serious deficiencies and the way that safety checks were managed. aftershocks have been rattling communities in southern japan after a quake that killed nine people and injured about 800. rescue workers have been coming through rubble in hard-hit areas to make sure there are no more trapped people. the prime minister says the government wants to prevent any secondary disasters from aftershocks. another casualty of the panama papers. this time it is posing manual anuel serria.se m he initially denied any involvement before backtracking as new revelations came out. bernie sanders is now and rome to attend a vatican conference. the remark senator is making the trip even what he faces a crucial new york primary against hillary clinton w

matt miller got a firsthand look at the car.eaching for a bigger slice of the lunch reply with its second generation r8 supercar. built on the bones of the lamborghini heard on, this is the fastest, most powerful, and most expensive car audi has ever built. >> is an evolution of a successful design. i think of designers did a great job. version that0 plus we tested without 610 horsepower . the carpets power to all four wheels with a seven speed, dual clutch transmission. it does zero to 60 in just about three seconds. if those specs sound familiar, it's because the car built by ,olkswagen's stablemate lamborghini, uses the same powertrain. >> the biggest challenge is to keep the two brands as separate. races.ut audi wins 50% of thecontains parts from the racecar that run -- that one the rolex daytona last year. >> teresa car that was exactly like this is special. daytoname to win the really speaks tremendously to what this car can do. ♪ driving the car at the daytona international speedway, the lighter weight and the rear ng are

i am matt miller with lisa abramowicz. four days to go until the wisconsin primary.t polls show ted cruz with a lead over donald trump. a victory by ted cruz could reset the race and set the nomination to a floor fight at the convention in cleveland. lisa: john heilemann and mark scottin spoke with walker, a senator cruz supporter. mark: we want to start with when you got out of the race for president. you said clearly you thought some other folks should get out to stop the person you deemed the front runner and have a true conservative. should others have lift -- listened to your advice? governor walker: a plurality only beats a majority if it is dispersed amongst many. welcomed a convention. he said if there was a convention, we would end up with a nominee that is not a current -- in the current field. do you still believe that, even now that you have endorsed ted cruz? governor walker: i thought it the time -- the buzz was donald trump was clearly on his way to getting the nomination and i thought if he did not have the 1237 i did not see any way, talking to deleg

mark: matt miller faces off against carl riccadonna.tuned. ♪ betty: it is time now for the global battle of the charts when we take a look at the most telling charts of the day. we are mixing things up today. you can access these charts on the bloomberg. this is one of my favorite moments. carl riccadonna, i think he makes his debut today. carl, take it away. : what i'm showing you on the chart here is productivity versus labor cost. nonfarm productivity, the white line here. what we've seen here in the last several years is this extended period of sluggish productivity growth. it has been under 1% for 18 quarters running. thatlosest we even come to sluggish length of time in post-world war ii history was the mid-1990's and it was only half that long. why is productivity growth so sluggish? the answer to that question, i believe, is fairly straightforward. labor costs. we see labor costs in orange here. in past episodes, when labor costs spike, businesses acknowledge that, they invest to minimize their labor costs and spend on capital e

check in on the bloomberg first word news with matt miller in the newsroom. matt: two men have been charged in relation to the brussels bombing and others have been detained in relation to the paris attacks. they were involved in renting an apartment that served as a hideout for the palmer who attacked the brussels subway on march 22. the detentions follow a morning search of the belgian capital. a judge will decide whether they should remain in custody. pro-government forces in syria are launching an offensive today, trying to retake a strategic hilltop village. sinceea has been held 2012. crash killed two pilots. it will bank said freeze its plan to create 250 due to a new state law that limits antidiscrimination policies for lesbian, gay, and transgendered people. they will retain the people at their software development center. cuba may be running out of beer due to the boom and tourism from the u.s. last year, the number of americans this thing the country visited -- went up 77%. isa up a main brewery reportedly considering opening a new plant to keep up

matt miller has more. matt: for earnings in general it has been a bad start.he worst start since the financial crisis. take a look here. alcoa is the most read story on bloomberg. biggest oil producer, cutting forecast for the manufacturing unit because of lower prices for aluminum, what you are looking at here, and because of margins for chinese demand slowing. of the china companies, they cut the production for the 747 jumbo jet in half. 26%. >> earnings from csx, the railroad company, first quarter earnings were up, but it is down from the same time last year which was $.45. in terms of outlook, csx sees shares declining, it has indicated as such that would probably be the place, because of low commodity prices. commodity that collapse is hurting carriers like csx. from they got 19% revenue coal, and because it is down, we are not using as much, but the really a warm winter, so that adding onto the decline. national gas prices are so low people would rather use natural gas and coal. -- van cole. , missingyou can see it -- consensust estimate. more than 11%

betty: matt miller came by the studio set right when you put that on. he is raring to battle you in battle of the charts. he's like, what is that chart. mark: i'm ready and waiting. betty: fighting words. let's check in on the first word news. vonnie: thank you. brazil's president dilma rousseff is on the verge of being booted from office. a lower house of congress voted in favor of impeaching rousseff and ending 13 years of leftist rule in brazil. it is up to the senate. analysts say it will be difficult or rousseff to win the votes she needs to stay in power. legalaccused of hiding loans from state banks. the government in ecuador says at least 350 people were killed and more than 2500 injured. the 7.8 quake was centered about 100 miles from ecuador's capital. some coastal towns were devastated. in japan, a series of earthquakes struck the island where the nation's worst in five years. at least 42 people killed. more than 110,000 had to flee their homes. timehe second investigators are trying to recover a data recorder from the sunken cargo ship el fa

we are going to matt miller and cory johnson. ned by scarlet and tracy on television. thank you for letting us jump in here. we have a great guest, joel parisman, chief executive officer of the rock 'n roll hall of fame and joined by john heilman. cory: what is he doing here? matt: i don't know. he is a big lover of music. and aa huge fan of joel great music reporter as well. he is one of the co-anchors of "with all due respect." joel is here to talk to us about the new class of the rock 'n roll hall of fame, the inductees steve miller, deep purple, and cheap trickery of tells about this year's class. >> this year's class is kind of special because like you said, you and other people grew up on this music. these kind of groups really almostnt the soundtrack of the greatest hits of the 70's and 80's. when you bring in nwa, one of the groundbreaking hip-hop groups. wa definitely one of the main players in the soundtrack of my high school and college life. one of my most worn-out cassette tapes, i know the words to every single song

mark: matt miller, the biker of the century.lloyd blankfein has been in charge of goldman sachs for a decade, but revenue and profit are falling. can he navigate the new world of wall street? we will be back. ♪ live from new york and london, i am betty liu. mark: and i am mark barton. this is the european close. betty: goldman sachs reporting its lowest revenue under the tenure of lloyd blankfein. profits dropping 60%. lloyd blankfein was able to guide the bank through the financial crisis in better shape than rivals. can he do it again? this time, facing new rules. we are joined by bloomberg news reporter jenny surane, who wrote the story here at bloomberg. tell us more -- it seems like his 10-year tenure -- we're not saying it is ended, but coming down with a thud, as you say. jenny: right, for the most part, analysts were disappointed in goldman earnings, and going forward, they hope to see major changes and get profitability numbers back up. betty: it is mostly through cost-cutting, right? jenny: right. that is the avenue th

for more i want to head over to bloomberg's matt miller with the ceo of harley davidson. : here with matt levatich, pleasure to see you. i want to talk about the brand. i have become a convert since the last time we met. i got a roadster 48 and i fell in love with the engine, the way it pulls. an amazing experience that i did not get before i had written a harley. more than 50% of the big bike riders in the u.s. have known about this. matt l.: i think we have a fantastic -- 51%. most of our presen competitors e in single digits. we have hatchling for decades. the issue for us is not about growing share but growing the sport, making sure that motorcycling is a vital part of what people do in the united states. it is surprising people come a two to 3% of americans ride motorcycles. matt m.: globally sales were growing in the u.s.. quarter.we had a great strength in international, 4.5%. the u.s. marketplace right now is extremely competitive. it was all last year because of the strong dollar. non-us competitors able to price pretty aggressively which they did and they continu

matt miller says it is not in serious trouble, but watch that $55 level to see how much more exhausted it could be. >> speaking of the overall quiet market, let's take a look at yields. two-year band yield ticking up just a little bit today. 10-year yields unchanged. just like the stock market overall. not much doing. >> and the dollar has changed as well. the yen climbed to an 18-month high. more evidence that the bank of japan's negative sfwrate policy has had the opposite effect than intended. the big mover here is the brazilian rail, 1.8% against the dollar, drop in the brail. weakening in tandem with other commodities. the catalyst seems to be the president not resigning. >> the mambingt was really in love with the idea of impeachment, the action in currencies and commodities as well. scarlet, you mentioned a w.t.i. at its lowest level in one month, the lowest since november. even the story of falling oil riggs couldn't help oil prices. it was all about that april 17 oil freeze meeting perhaps not resulting in a freeze. copper had its longest losing streak in two years. sugar also

betty: calling matt miller. mark: exactly. what happened to the stables? hanna: they moved up. there on the ground floor. it took a lot of finagling. there are one dozen horses now up there. it is a brand-new stable. it is state-of-the-art. betty: is it a luxury high-rise? hanna: yes. be up for interpretation. car, i know you love your what is your favorite? him: there is a 69 ford bronco. it is bright orange. it just looks amazing. they have a 63 corvette stingray that i have had my hands on. i love it. they are very fun. ok.y: thank you so much. hannah elliott. at can find us a much more bloomberg pursuits. travel, watches, dining, and property. you can just go on the bloomberg. we have a headline coming across our bloomberg right now. the u.s. is pressing ahead with its appeal in the brooklyn iphone privacy case. government dropped its fight over the iphone access in california. they are pressing ahead with an appeal in the iphone privacy case. we have more details as they come across. mark: coming up, just under 30 minutes away from the coast. we will have more action comin

betty: that is matt miller love this stuff.one game maker is taking this to a whole new level. a virtual rep -- weapon bizarre turns a teenager. we're joined now. .xplain what this is about could counterstrike is a game in which two teams are basically in an area and they are just trying to shoot one another. it is a game that is good for competitive players, people who play against their friends. it is also a really popular game for the professional videogame circuit. encouragings this kids to gamble? you can getme, virtual weapons or declarations for your weapon. these are called skin. you can get them directly to the video game or you can trade them with friends or people you meet online and including trading them for cash. is, it isally happens a convoluted process but you can turn cash into the weapons and turn the left is -- the weapons back into cash. people have them and they take them to the website and say, i will wager this gun or this knife that my favorite counterstrike professional team will win and someone else w

matt miller will be going on -- sighing, cursing me, swearing at the screen.his is for you, miller. these are the big players in the drug industry in the last 12 months. don't forget via is a chemicals group. roughly half of its revenue comes from drugs. the others come from chemicals. the worst performers, all of these companies have seen decline in the last year. glaxo smith down by 6%. the worst of my torrent -- 25%. via down by 25%. the drug industry has suffered in the last 12 months. this is the three big tobacco players in the world. phillip morris and out here. british american tobacco is the world's number three by market values. lucky strike among its brand cigarettes. first-quarter sales growth beat estimates and gave market shares and countries like indonesia, russia, ukraine. cigarette sales right here in western europe jumping by 13% german by a drop in illicit tobacco sales. they have been rising amid the european refugee crisis. so,he last four months or we have phillip morris up by 11%. 5%.treo roughly up by p.a.t. coming in second up by 9%. t

as matt miller pointed out earlier, like many of the banks, the estimates for morgan stanley had beenlashed going into the report. they beat the estimate. take a look at how other banks are trading today piers morgan stanley fell a bit. not much across the board but a generally more positive tone then we are seeing with the exception of citigroup. at kbw.et downgraded getting back to morgan stanley and the trend we have seen cutting expenses, here is an exchange of non-interest quarter by quarter. in the most recent quarter, it was a 14% decline. trend for the bank and a trend at the other bank as well. in terms of the year-over-year change in revenue, morgan stanley with a 20 -- a 20% drop in the steepest among the peers whom we have heard from thus far. mark: still ahead, deadline day in the bidding for yahoo! who is in the running. that is after the break. ♪ i am mark barton in london with betty liu in new york. today is the deadline for the first round for yahoo! shares. shares are lower today as we wait for who is in and who is out. joining us now, alice, who broke the story. ali

we have matt miller against oliver renick, making his first appearance. ♪ our global now for battle ofrts, where we look at some the charts of the day and what they mean for investors. you can run the function featured at the bottom of your screen on the bloomberg to see it. today is oliver versus matt. matt: i feel confident i will win. will bething -- mine the only chart you can actually all get on your bloomberg. #btv10021. clark,edit to hillary my producer -- not my producer, but a producer. google in the last 12 days, the share price in white, and this dramatic drop. unbelievable drop because of the when marginsntment were said to be squeezed because googles will have to pay more to get to clients because the new advertising platforms are hurting the search business because -- even though other businesses are doing well. -- the bloomberg can go to twitter and pull out all of the tweets. in blue is the number of tweets. green is positive tweets. red is negative tweets. what the bloomberg can do is go through social media and not only pull out and count all of the comments made, but

i wanted to rip off matt miller's battle of the chart this morning. take a look, 1062.s looking at here is the move index, a measure of volatility in the global bond market. this is a bloomberg u.s. financial conditions index. he has inverted that one. the lower the blue line gets, the better the positions get. financial numbers have been improving. upon volatility has been going down, which is what you might expect. given the fled -- fed theibility to raise rates fed is considering the globe. david: second place chart. day for tech earnings and all of the action is about to kick off in a few minutes. the excitement is palpable. we have talked a lot about the expectation that iphone sales are going to be less than good. >> the first sales decline in more than a decade. thequestion is, how that is decline? apple has conditional market for a drop off. iphone,version of the that has not quite kicked in yet and there is a new iphone in september. we're in an in between time. sometime.one seven >> there is a concern right now about a global saturation of the smart phone mark

matt miller: 271 companies reported using the bloomberg earnings analysis function here, and what wes that earnings growth is down almost 6% same quarterhe last year and sales growth is down as well and analyst do not expect a rebound until q4. even then, they will probably lower the expectations and push that out further. what gives with a profit? buyer they so week? >> i have been critical of the credit policy. the fed created a system where bonds were favored and that automatic the disadvantages other forms of credit, so the normal way an economy grows is a new business needs inventory, so they go to the bank and borrow function isit that not happening because so much of the new credit, over 75% over the last five years, of the new credit in the u.s. economy has gone to bond issuers. it is primarily the government spared aorporations lot of m&a activity but not so much gdp activity. >> you had senior positions on capitol hill. to -- know washington washington well. we're in an election year. what could leadership do to help growth in the country? >> the starting point is to want i

matt miller is here to show up the charts.stand and see where we have been and where we are going. if you look at income growth here, black rock has spotted a trend, not hard to spend -- not hard to see if you look hard enough. it has fallen lower and lower. discharge goes back to 1969. we had a peek. 2000, 11,ed up to 2012, and we saw growth is slow again. vonnie: is this lost in translation, or do we see quite a strong bout of inflation? matt: not inflation, but it is always growth. it is always above the zero line, it is just that growth has slowed. tw935.n see the chart, g#b you always talk about how the consumer makes up 70% of the economy, roughly, 68% as is shown by this chart. , personal consumption expenditure we are talking about also includes health care and a number of other things that do not flow through household hands, heading to medicare and stuff. down as started to come a percentage of the economy, percentage of gdp, since 2011. when we saw the most recent peak in income growth. as income growth slows, consu

r8 supercar.ew matt miller has taken it for a spin at the daytona international speedway in florida. : audi is reaching for a bigger slice of the luxury high with its -- of the luxury pie with its brand-new supercar. this is the fastest, most powerful, and most expensive car that audi has ever built. to follow the evolution of a successful design and i think our designers did a great job. version that we tested puts at 610 horsepower with a naturally aspirated 5.2 liter lung. the carpets power to all four wheels with a seven speed, dual clutch transmission and it does 0-60 in about three seconds. familiar,pecs sound it's because the hurucan, built by lamborghini, uses the same powertrain. >> part of the biggest challenges to keep those two brands separate. >> audi wins races. 50% of thecontains same parts used on the lms racecar that won the 24 hours of daytona earlier this year. >> theresa carr exactly like this is really special. the 24 out -- to race a car exactly like this is really special. the 24 hour race at daytona speaks tremendously to what this car can do. >> driving at the

he is matt mailly, equity strategist at miller tay back. nice to see you again. let's start with side risks. bob pisani outlined the fact that returns are going to be mod els at best in many sectors. what do you see as is the potential downside risks? >> one of the things we have is on the earnings front. bob is right, if we can get good reports out of some of these industrial names later this week, that will be positive. but one thing is that a lot of people have been talking about, geez, the first week and a half of earnings have been better than expected. but most of those stocks have been in groups where the stocks have been knocked down and therefore lower earnings expectations have been priced into the stocks. a lot of those industrial names have had nice rallies. you look at u.s. steel up 200%. it's not a tech company. i mean, so you wonder how much -- because it's one thing when you come in lower, when you come in down earnings and beat expectations. but if your stock is washed out it can still bounce. some of these stocks have had nice rides. it's going

cory johnson and matt miller. stock andll ahead, bond returns.n author behind a new report that investors need to set their sights lower when it comes to investment returns. ♪ show me top new artist. ah, ha ha. show me top male artist. my whole belieber fan group. it's not a competition, but if it was i won. xfinity x1 lets you access the greatest library of billboard music awards moments, simply by using your voice. the billboard music awards, live sunday may 22nd, 8/5 pacific, only on abc. ♪ >> from bloomberg world headquarters, you are watching "bloomberg markets." i'm scarlet fu. tracy: and i'm tracy alloway. vice president joe biden has made a surprise visit to iraq. mr. weidmann meet with leaders and u.s. personnel in iraq. it is now all but certain the courtea on the sprint will remain vacant until after the supreme court election. failed to crack republican opposition. nextlicans insist the president's vacancy created -- will fill the vacancy created by antonin scalia. shootersn bernardino have been arrested in a marriage fraud conspiracy