i am matt miller.s is "bloomberg best." the weekly review of the most important business news, analysis and interviews from bloomberg television from around the world. throughout the week, investor attention focused firmly on friday, awaiting janet yellen 's speech at the jackson hole symposium. but on monday, comments from the vice chair caused a stir. >> stanley fischer signaled that a rate hike is still on the table for 2016. speaking in aspen, colorado on sunday, he said "we are close to , the targets. looking ahead i expect gdp growth to pick up as we recover from the surprisingly weak patch in the drag of dollar diminishes." what would you call this? >> i described this as less of an aggressive hawk and a slightly more ill tempered dove. >> gradations of cautiousness. [laughter] >> do you think the rate hike is on the table? >> without question, they should be considering a rate hike. the economic conditions in the u.s. without question warns one. the real question, how can the global economy cop

scarlet: i'm scarlet fu and he is matt miller. his hour. the dollar is gaining as investors await the minutes from the feds last meeting. matt: emerging-market stocks and currencies also falling ahead of the fed minutes. rate hike mean for countries like argentina and venezuela? scarlet: paul krugman tells us a clinton presidency would mean for the economy. would it be a continuation of president obama's legacy? matt: the halfway to the trading day. onie hyman has the latest equities. julie: and also on bonds. we have headlines coming up from the st. louis fed, not a voting member of the federal reserve, but nonetheless, he is making some comments. he is repeated of you that he is already stated that he sees one rate increase over the next two years. it flies in the face of what bill dudley said yesterday in an interview that we could potentially see a rate increase in september. he says there is no reason to see the u.s. economy heading for recession on the flip side as well. he is making these comments and prepared remarks for a

i will give it to matt miller as we head to the meeting next month because of the short squeeze. tions. matt: i love the chart so much that i will use her in another addle of the charts later when i am not going against her. you. >> up next, waiting on a press conference on an aircraft carrier or we will break down what is at stake for all of europe. later today, mario will sit down with betty liu today at 2:00 p.m. eastern. be sure to tune in. this is bloomberg. ♪ stephanie: -- david: live from new york. >> let's look at some of the biggest stories in the news right now. prime minister theresa may's increased spending on infrastructure. that could help stave off a slump caused by the vote to leave the european union. the bank of england is running out of options to simulate the -- the simulate the economy. the boom will come to an end next year. country lies, housing prices in london will drop a little more than 1% in 2017. that will be the first decrease of 2009. meanwhile, britain's are making they have access to the european union. two months since the eu and since then, 16 em

i matt miller. scarlet: i'm scarlet fu. august the most beautiful, rare, and expensive cars converge in monterey, california. bloomberg's suits had a elliott 's hannah elliott joins us now. expect more we can than 370 million dollars worth of cars sold this weekend. millions and millions worth of cars. was sellingseinfeld a huge portion of pushers and telling my mom, who was watching with me, this is the second best concorde in the america. is pebble as important? >> definitely. it is all the blue chips, the racing ferraris, all sold here at double beach. scarlet: if that is the case, want all the stuff happening in europe deflate the optimism this year? >> that is a great question. for people who are a little hesitant anyway, they will not buy the car. for solid buyers who can afford the thing, it probably will not affect the much at all. matt: kevin hagood he has also gone very involved in the car scene. they have a car index. scarlet: do we have on the bloomberg? matt: we have that on the bloomberg. they continue to rise

i am matt miller. we are covering stories from washington to zurich to houston in this hour. here is what we are watching. stocks are in the green to start sinceg and stocks halting june. gains adding to investor confidence in the u.s. economy. we see a flurry of health care deals to close out the deal -- close out the year? suzy will be here to talk about what is on the horizon. >> what does donald trump really believe when it comes to immigration policy. we may get clarity this week. matt: we are nearing the halfway point at the trading day. let's go to the markets were abigail doolittle has the latest. abigail: great to be here. good to see you in person. we do have a nice rally going on here for u.s. stocks, the dow s&p 500 and nasdaq are all nicely hired. we see the bullish activity accelerating for the day. nice exemplified the dow having its best day since august 5. we pull up a chart in the bloomberg, beautiful rally. this is where we started. we are now nicely higher on the best day for the do

matt: live from the town manhattan, i am matt miller. barton.am mark this is bloomberg markets on bloomberg television. ♪ >> nonmanufacturing index, the measure of the services economy coming in at 55.5, about in line with the 55.9 that economists had estimated. this lowdown from june passes reading of 66 and a half. from 56 and ahigh half from prior month. anything above 50 does signal expansion. still seeing an expansion. we are still seeing a mix, little changed market. the dow had been down seven sessions going into today. the longest losing streak since mid-june. though today is sideways-on the past couple of days have in sideways, the more recent uptrend in stocks made the s&p 500 is trading above the forecast. take a look here. the s&p 500 is in white. the average forecast in blue, it was awfully back in 2014, the saw the s&p very barely above the line. more significantly above at this point. historically, strategists tend to be more bullish. prices, 10:30. a rebound in oil today. up by 1% at the moment after industry data, we wil

and i am matt miller. we are covering stories out of italy for the next hour. here is what we are watching. saint jude medical, citing security flaws in cardiac devices. we will hear about it in an interview. plus, the firm that worked with many waters to hack into the medical devices. allegations --e saint jude says the allegations are absolutely untrue. janet yellent will say tomorrow? look out for the pound, the yen, the kiwi. let's check on the market. >> a lot of different nuggets today. everything from a short trade to mixed commodities, as well as mixed earnings. this is where we stand right now. you can see, pre-much mixed and close to the flat line. the nasdaq is up by .1%. let's take a look at what happening in terms of the s&p. so far today, a very volatile, up-and-down day. the most around 11:30 a.m., and now we are close to the flat line. markets, as well as volume, not happening today. down by 8% against the 20 day moving average. jeweler, up by about 7%. earnings per share beat estimates by

matt miller has a look at the latest. matt: yes, let's look at the majors. looking at the s&p, checking to see whether the range of trading is even anywhere approaching 1%. now 433not seen that days when you count that session. the dow is down .2%. the s&p down about one third of 1%. the nasdaq is down .5%. we have not seen big swings in the major indexes and the s&p's civic lay for 33 days. take a look at the chart that i pulled out of the library. 2487. you can see we charted the swings and the size of them. we have not been at the size here of one point i percent for over a month. it has been very slow trading, a calm august. swings inger commodities. you will see the metal is down firmly and the miners, as a result, are down today. 13%, and downey percent, almost all of the metals are logging in law is today. we also see once again taking a big died today, if you look at the past week, a really rough time of trading and more and more news starts to build up about at the pen pricing -- epipen pricing. the fb pen is necessary for isple -- the epipen necess

i am matt miller. joe: i am joe weisenthal. "what'd you miss?" off today. ♪ matt: u.s. stocks closing lower, dragged down by apple. joe: "what'd you miss?" matt: u.s. stocks retreat from record highs. , asset market action class by class. pay $14.5 ordered to billion after the european commission said ireland illegally/the company's tax bill. >> lawmakers on both sides of the aisle, we speak to goldman sachs about what is next for the country in the market. let's kick it off with market minutes. stocks down across the board, but some in individua

matt: s.a.p. miller there is resulting in a $2 billion payday for bankers, lawyers, consultants and the tax man. this is one of the top read stories on the bloomberg. the fees that ab inbev o are going to pay include 705 $5 million for financing agreements. -- $725 million for financing. $475 million for taxes for that transaction. sab miller pays about $2 million in fees as well. 180 my million dollars for broking -- 180 $9 million for broking and legal advice, $9 million for pr, $2 million to the accountants. scarlet: it's a windfall for everyone supports this deal. it's a huge payout for the beer companies as well, and in bed -- ab inbev is going to cut a lot of jobs. matt: not a payday for brewers. scarlet: i want to show you m&a and the volume of dollars for m&a for brewers. this is on the bloomberg terminal, for brewers specifically. the blue bars will show you the volume. the dollar amount. in the green line shows you the deal count. the deal count rose in december of 2015. since then, it has gone

matt: i'm matt miller.ro, and london. oil on track for its biggest weekly advance since april after saudi arabia signaled it prepared to discuss stabilizing markets after crude tumbled into a bear market last week. we will hear from the eia administrator. something president obama, hillary clinton and even donald trump can agree on, corporate tax versions need to stop, so why isn't anything being done to stop them? exclusive interview with the ceo of manitowoc foodservice. the company reported lower-than-expected quarterly results. we will ask him why the brexit vote are hurting the company's bottom line. we are halfway into the trading day. let's go to the markets desk with julie hyman. losses accelerating a little bit after that trio of record yesterday for the three major averages, the first time in 1999. all three major averages now around the low of the session. the dow jones leading losses down by nearly 60 points. pretty volume is lackluster on this summer friday, down 18% on the s&p 500 over the 20-

scarletmatt: i'm matt miller.he search for a potential buyer, according to people familiar with the matter. point $4 million in cash and an investment from general motors, they have a valuation of $5.5 billion. but it's competitor uber will not pay $2 billion. let's go to bloomberg radio. >> i want to welcome our bloomberg television watchers. notre talking about uber purchasing lyft. to tell us more, we have eric newcomer, our technology reporter from san francisco. eric, tell us a little bit about this story having to do with uber saying they are not interested in buying lyft for antitrust reasons but also putting a low price tag on lyft. can we think of this just as slinging mud at the competitor? >> i have to be careful about how i relay, but i got this from sources. executivessome uber were saying to their investors, they only think lyft is worth about $2 billion. that is the price they could see paying for it. that was the first part of the story. ceosecond part, the uber does not think -- regardless of what

i'm matt miller.et's continue our global tour of the week's top is the story starting with a major acquisition by one of the world largest pharmaceutical companies. you've got pfizer clinching the purchase, valuing the company of about $14 billion. this gives pfizer a block west are cancer treatment already approved for sale in the u.s. >> the one who kicked it off wwas sanna p. , youu are saying that p are in a bit of the distress. you are way off on your expectation of violations and pfizer came in and blew them out the door. pfizer has mentioned it's looking to split up at some point. does this purchase make that more or less likely? >> one of the interesting things about pfizer is they are so big that even when they go out and doing almost $14 billion deal, there are analyst saying this doesn't really move the needle for them. another crisis on the horizon for volkswagen. following an unprecedented , thete with suppliers carmaker has to halt production of its most popular models. talk to us about

i am matt miller. out the headlines on bloomberg's wrestler news.hat, we go to mark crumpton in the newsroom. mark: uk prime minister theresa may's cabinet today concluded there is no -- no need to hold a vote before starting the process theolding britain out of european union. they risk alienating opposition parties. they believe lawmakers should cast votes before our 50th you's treaty. in venezuela, put opposition will try to sweep the suite -- strays tomorrow with the biggest margin years. they are put to death pushing for a referendum. he is wildly unpopular and the economy is suffering through triple digit inflation. they're planning a counter demonstration. the first commercial flight between the united states and cuba in more than a half a century landed today. jetblue flight 387 from florida to santa clara marks a new era in travel. bankscarolina's outer have been spared from a tropical storm ivette has been moving toward distaste for two days. the national weather service says the system is moving away and the strongest winds were 30 miles

matt: i'm matt miller.ing a lot about apple. mentioned a chart on the bloomberg. i have massaged the chart for little bit, so i submitted for your interest. submit it for your interest. the slate grey blue is the amount of cash. the think is their total debt. also, no slouch, creating debt, $85 billion of debt because they have so much money overseas. to sell backostly in the u.s.. the interesting thing is the white line here. this shows income tax expenses. though they were climbing through the beginning of this decade, they have come down theyantially, or at least have even doubt, if you put a trend line there. that is why it's interesting that they may be able to put this $14 billion bill that the eu wants them to pay ireland, even though ireland does not seem to want it. nejra: it would eat up about three months of profit. recent stability could be coming to an end. yellen is signaling a potential rate increased by the end of the year. there are many ways where you can look at bearish bets on the yuan.

oliver: today with matt miller, matt?e are going to talk with manager of k km, joining me from the cboe in chicago. biggest gaining sectors today, obviously utilities because investors looking for yield have done well in the past months and weeks. but today specifically it is interesting because the oil prices down. and yet youre down see utilities up. is this just a defensive play? dan: it feels like it. if it is like we are seeing the treasuries reacting positively. it feels like there is some defensive repositioning today. but overall you have seen over the course of the last several weeks, utilities coming under some selling pressure. today it feels like a bit of defense of positioning ahead of the speech this friday from fed chairman yellen out and jackson hole. we will have to see if it continues. it feels like it more often today. matt: will we hear from the fed from dudley, from fisher, twice from dudley and others, that we may get an interest rate hike, that they really are data dependent, and the data looks good

matt: from the bloomberg world headquarters in midtown, manhattan, i am matt miller. a big earnings day for european banks. we have an exclusive interview with carlo sao paulo mussina. here he is with francine on bloomberg surveillance. carlo: the point of italian banking system is some specific cases. there were two banks. the change them to buying, and they are the threshold of capital. these have been sold through the usage of [indiscernible] and it [indiscernible] the big problem of the italian banking system. in my opinion it has also sold [indiscernible] we have to wait for the recovery of the real estate market in italy. this includes 20% transaction, prices increasing. we are waiting for the price to recover. i don't see significant problem. there is the emotional point of market. every time i speak to you and ask if you will buy this, you tell me know. would you be interested given the latest comings of buying it if you got rid of the bad loans. ? carlo: there is no rational to this. plan in a clear train for the shareholders. andover get 50% of capital is on

i am matt miller. scarlet: i am scarlet fu.o washington to toast ill in this hour, here is what we're watching. .il prices higher iran might be more willing to club rate with other producers. matt: best buy shares our surgeon today. thanksgiving investor confidence that the ceo can return the largest u.s. electronics retailer to can is to throw. >> new-home sales, onyx actively jumping to an almost nine-year high. thiswill join us later hour. matt: we are halfway to the trading day. ramy has the latest. we are falling away from the records we had earlier in the trading session. 2190 is where our closing record high stance. at the end of the day. the nasdaq is just a point off. thisow never went into territory. selling off in terms of the games you had earlier, comparing wins you saw earlier as well. let's take a look and see what is happening over the day with the s&p 500, right now at a session low up about one quarter of 1%. we hit the session high right when the new home starts came out. happening at what is in terms of some

matt: i'm matt miller. scarlet: mark crumpton has more than his room.y clinton to keep people connected to wall street out of the transition team and white house if she wins in november. the groups include moveon.org and democracy for america. they say it will demonstrate clinton is serious about her promises like opposing the transpacific partnership trade court heard tomorrow mrs. clinton will deliver a speech on the economy in michigan. it will be at 1:15 new york time and bloomberg will of course have live coverage. cnn reports the secret service has spoken to donald trump's campaign staff about comments some say were a threat to mrs. clinton. the remarks, made yesterday in north carolina, trump suggested gun owners could stop a clinton agenda. trump denies threatening violence and says he was referring to gun owners' political power. a former 82 new jersey governor chris christie texted to a colleague that christie "flat out lied" during a news conference about the george washington bridge lane closings scandal, according to a newly released court

matt: welcome to bloomberg markets. ♪ matt: from bloomberg world headquarters in new york, i am matt miller here is what we are watching. matt: history in brazil is made as dilma rousseff he comes the first resilient president to be impeached. michel temer will serve as president until 2018. can he lead the country out of a six quarter recession? nejra: regulators are looking to block the purchase of the san it will raise cost to farmers. his: bill gross reiterates outlook. he says negative rates are turning assets into a liability and we will hear more from him in this hour. nejra: halfway into the trading day let's head to the market desk where abigail doolittle has the latest. abigail: we have decent declines on the last day of trading for the month of august. the dow is on pace for the worst drop since july 5. we take a look at the s&p 500 .nd all 10 sectors are lowered the worst drop since august 2. an intraday chart shows the decline. we are near lows. when we take a look at the vix, it is near session highs as volatility spikes higher. on pace for the best day since june 24. the mont

matt: imf miller. -- i am matt miller.let: the device making maker responding to allegations that some of the different glitters and pacemakers and other devices are vulnerable to hacking. saint jude said it has concluded misleading,lse and that is a direct quote and reinforces the security of devices and commitment to safety , all this in an e-mailed statement. and some details about how st. jude's says it is not possible the battery can be depleted in a if the foot range. in response to specific allegation. in to what listen they told us yesterday when he announced his short sale. >> number one it should stop selling these devices until it has a way to -- until it has developed a new secure medication protocol. in the interim and i am speaking not from a medical perspective, patients, users should speak from their doctors but from a security perspective st. jude's should disable the rf capabilities of the implanted devices. matt: med tech made some very targeted accusations about certain technical aspects like this batte

kicking things off, it is matt miller. hoping to go first, because i see mark barton at the european themed charge. i don't, i have a u.k. themed chart. this is london house prices. they are not rising as quickly as they have, or falling -- wait, they are not rising as 1.2%.- wait, they are up that number has not been that low since june 2015. the are still rising year after year. you see the problem i have making that point. they have not quite fallen yet. they did fall in the last month, and the number of days it has taken to sell your house in london has drawn out. i think it is interesting house prices continue to rise year-over-year after the brexit vote. the number is 2746. vonnie: you are basically saying cooling would be the word. matt: cooling down. still rising, but cooling down. mark: how about london house price versus slowing? vonnie, you can have your record and theow, the snp nasdaq, because today, the euro stocks 50 has surpassed the yellow line, the 200 day moving average. you were thinking, 200 day moving

matt miller has a look at the latest. matt: yes, let's look at the majors.e s&p, checking to see whether the range of trading is

matt: i'm matt miller. here's what we're watching. -- stocks edging lower.ly awaiting the fed minutes from the july meeting. explain they could help why fed officials did not signal the timing of their next move. is lower for longer a buying opportunity? hillary clinton takes the lead in key battleground states. another sign of upheaval within the campaign. scarlet: we are halfway through the u.s. trading day. track ofan is keeping the first back-to-back decli

matt: i am matt miller. the nasdaq at a new record. joe: "what'd you miss?"l vote tonight on whether to try delma rosneft. kong property stocks are hot. we have the charts you can't meis.. s. the dow and s&p finishing marginally higher. this is after an unexpect

matt: and i am matt miller. we are covering stories out of italy for the next hour.hat we are watching. saint jude medical, citing security flaws in cardiac devices. we will hear about it in an interview. plus, the firm that worked with many waters to hack into the medical devices. allegations --e saint jude says the allegations are absolutely untrue. janet yellent will say tomorrow? look out for

why matt miller. the yuan bears have returned. i forget my chart number. 3123, thank you.is what i was hoping for. i have so many different looks at the yuan bears. this one shows you the three month implied volatility and the spot price and blue. as the line goes up, the yuan gets weaker. in augusth volatility has climbed at a faster rate than any month since january. because of that, you can see traders think the yuan could get wilder. you could look at the fact that puts are more expensive than calls right now. the forward contracts traded at a discount to the spot price. all these things indicate that everyone expects the yuan to weaken. joe: there is a volatility pickup. the s&p 500 or markets don't respond to the weakening currency, but do respond to a spike in volatility. speaking of the china story, i want to look at my favorite data point, which comes out later this week, maccallum gaming revenue. -- macau gaming revenue. over year change, only down by 7.1%, compared to where we were, we are one point down on , 23% down gdp last year, so this is quite a comeback.

matt: and i am matt miller. its best day in more than three weeks halting the longest slide since june. joe: the question is, "what'd you miss?" matt: u.s. stocks make up their mind. janet yellen's recent comments are good for investors. can the fundamentals improve enough to keep the rally going? joe: wall street is waiting to get more endowment clients helping schools manage investments has grown into a $100 billion business. chandra: in brazil, the impeachment trial of the president is entering its final phase. can she convince lawmakers to keep her in office or is her removal already a foregone conclusion? matt: we begin with our market minute with the biggest gain on the s&p we have seen since august 5. we pointed

matt: i am matt miller. ♪ scarlet: oil rebounding to $40 a barrel, stocks going higher.edia earnings take center stage. 20th century fox out in minutes. joe: credit showing signs of weakness. is that a signal of concern for other asset classes? matt: hillary clinton will be u.s.ext u.s. president if consumer confidence continues to rise, according to our guest. scarlet: we begin with market minutes. the dow ended its seven-day losing streak, s&p 500 also climbing. s&p rebounding from its biggest lost in four weeks. we are trying to weigh different things like the latest jobs data and corporate earnings. joe: pretty solid day. nothing to germanic word dramatic. who contributes the most, who takes the most away. the top five index points contributors, four were financials, aig, j.p. morgan, citi paul giving big contributions. p functionk at the ima on bloomberg, energy stocks did the best. joe: on the government bond , there continues to be selling the last several days. you can look at the australian a sharp jumpd, ace sharp jum up. that's keeping with the broader story f

matt: i am matt miller. ♪ scarlet: oil rebounding to $40 a barrel, stocks going higher.take center stage. 20th century fox out in minutes. joe: credit showing signs of weakness. is that a signal of concern for other asset classes? matt: hillary clinton will be u.s.ext u.s. president if consumer confidence continues to rise, according to our guest. scarlet: we begin with market minutes. the dow ended its seven-day losing streak, s&p 500 also climbing. s&p rebounding from its biggest lost in four weeks. we are trying to weigh different things like the latest jobs data and corporate earnings. joe:

i am matt miller. we are covering stories from washington to zurich to houston in this hour.we are watching. stocks are in the green to start sinceg and stocks halting june. gains adding to investor confidence in the u.s. economy. we see a flurry of health care deals to close out the deal -- close out the year? suzy will be here to talk about what is on the horizon. >> what does donald trump really believe when it comes to immigration po.

matt: from bloomberg's world headquarters in hot, hot new york, i'm matt miller. .liver: i'm oliver rant we are watching. stocks taking a break after hitting new records this week. treasuries are rallying. andppointing retail sales the likelihood of a fed rate interest ike. matt: we have breaking news. it looks like hillary clinton is forasing her tax returns 2015. we see that the clintons say they paid 34.2% tax rate for the last reporting year. are going to continue to get headlines on this and bring you all the news on hillary clinton's tax returns.

. ♪ matt: i'm matt miller. "what'd you miss?" ,'m going to kick it off consumers racking up debt.omberg go customers? that's a nervous tic that i have. i have a great chart that was made for me. on consumer credit. he sent me this chart when we were talking on friday. i think it is incredibly interesting. this is a look at consumer credit in white. that is the overall consumer credit, since the internet bubble burst. ist you have in blue non-revolving loans like student debt and auto loans. in purple you have basically credit card debt and home-equity loans. you can see that after the financial crisis which was about the middle of this tart, your consumer started to play down the revolving debt or they were not able to access it. but that is made a massive recovery and has overtaken non-revolving debt. this tells you that consumers are using more credit cards or home equity. i think they are tapping back into home-equity loans. the question is, is that good or bad? this chart was sent in on friday. it shows the monetary velocity versus employment to population ratio. ,ou can see g

i am matt miller. u.s. stocks closing higher after reaching record highs. oil increasing.tion is "what'd you miss?" faces tothe fed separate paths. we have the chart that explains their approach. how much longer can the housing run continue? matt: is climate change magnifying the dangers for housing. 36 u.s. cities could be completely lost. we begin with market minutes. and x is setting record highs, .losing nearly

earlier matt miller and scarlet fu asked justine bow to clarify her firm's business arrangement with waters. >> what we are interested in achieving is mitigation. what you are interested in achieving is profitability for your company, right? you go to carson block and publish the short before going to saint jude. >> we think carson has a history of holding large companies accountable and that is why we are excited to partner with muddy waters. not only do we want saint jude to respond with urgency, we want the public to be aware. they have a right to know about the risks and we felt very strongly that st. jude medical were likely to shut this up and potentially do nothing about it once again. edsec is for profit. >> we are a research company. we incur a lot of expenses. this is not software only. of course we are looking to recover our costs but our motivations here are to hold st. so thatical accountable mitigations can be effected as quickly as possible. it is not going to be a small theseaking because of inherent vulnerabilities throughout the ecosystem, and to draw attention to t

matt: and i'm matt miller. >> u.s. stocks closing higher and nasdaq and itching and record highs.bs report for july. an economist to claims low skilled labor force will lead a recovery. we dig into their economy and what to expect from their central bank. scarlet: we begin with our market minute. a blockbuster july jobs report means the nasdaq and dow closed at record highs. financial and technology leading the way.

. >> and i am matt miller. here is what we are watching.fter a record finish on wall street yesterday, the dollar sharply retreating against the euro, yen and the pound. >> a september rate hike is possible. and housing starts advanced. he has been a bear on new york office space for a long time. rental properties and investment ideas this hour. scarlett: we are halfway through the u.s. trading day so let's head over to julie hyman where

matt: and i'm matt miller. ♪ scarlet: u.s.this afternoon ahead of janet yellen's speech tomorrow. joe: the question is, "what'd you miss?" scarlet: the waiting the speech tomorrow. and we speak to narayana kocherlakota for the next half hour. joe: plus, turkey emerging from the attempted to a stronger power. what is next for its relationship with the u.s. and russia? matt: and helicopter -- coming to japan. he sees the doj acting after the yen's gain. ♪ scarlet: we begin with our market minute. stocks closing lower before janet yellen giving her speech tomorrow morning. if you look at the industry groups in the s&p 500, five out of the 10 are higher or lower as the case may be because it finished down. materials where the best

. >> i'm matt miller. >> all three u.s.exes at record highs today, for the first time in 16 years. >> the question is, "what'd you miss?" >> we will break down the results from nordstrom in minutes. by onere joined professor who outlines the three ways the european union could unravel. >> u.s. retail sales probably will rise in july. we have the three charts you can't miss and tomorrow morning's release. we begin with our market minutes. u.s. stocks rising and climbing towards record hgihs. -- highs. all one mark the first time three indexes have closed at a record high since 1999. >> it is a remarkable

matt: i am matt miller. ♪ closing mixed, treasuries are rallying after fed minutes.u miss?" scarlet: u.s. stocks near highs. with one technical strategists who says a 4% to 5% pullback is likely. fed staffer breaks down the language of the fomc statement. cuts up to 14,000 jobs, earnings out in minutes. scarlet: we begin with market minutes. u.s. stocks finished higher. they were bouncing around after the release of the fed minutes. we have overcome earlier

i am matt miller.berg. ♪ ♪ haslinda: today we meet with a woman who was forced to take over her family-owned company after her father died. just as business was picking up, she was faced with another death in the family. this time, her husband. the tragedies, though, have made her stronger and she now runs a multi-million dollar operation. let's meet sin hwa dee's jocelyn chng. ♪

vonnie takes on matt miller.ey factors affecting the u.s.. ♪ mark: time for the global battle of the charts. we take a look at the most telling charts of the day. i am rubbing my hands in anticipation. mean for investors? you can access these charts it by running the function at the bottom of your screen. take it away. matt: thank you for rubbing your hands. i have a chart hillary put together, 2505. she put it together for everyone at bloomberg. and for all of the clients. i like yours as well. this shows you the atlanta wage .racker versus the actual bls this is really important to the economy. it is you need more money to spend more money. in fact right now or last month i should say, we were up 2.6% over the same month last year. you can see this has been since thebove 2.0% beginning of 2015. that is good news. -- atlanta wage tractor tracker is higher, three .6%. it is interesting to watch wage growth as an inflation does that -- as an inflation the fed needs to see. we have a low and employment and wage gro

earlier, matt miller and scarlet fu asked the ceo to clarify her firm's business arrangement with muddyaters. >> what we are interested in achieving is mitigations. we also want the consumers -- >> critics are going to say they are interested in achieving profitability for you maximize profit by going to carson block and publishing this short, rather than going to saint jude first. that carsonieve has a track history of holding large companies accountable. and that is why we are excited to partner with muddy waters. not only do we want saint jude to be held accountable but to respond but we want the patients and the public to be aware. the public has a right to know. about the risks associated with this bit of technology. and we felt very strongly that st. jude medical were likely to act, shut this up and potentially do nothing. matt: medtch is for profit. this is a business model to make money. justine: we are research company. we incur a lot of expenses. this is not lightweight equipment, this is not software only. our lab has a lot of hardware. we are looking to recover our costs. bu

. >> coming upit is bloomberg markets with matt miller today. that could be dangerous.d to the aig chief executive. he will chat with betty liu at the top of the hour. the company buying back $3 billion of stock. half past forward to, three clock london time. deutsche bank strategists will be talking oil with us. the founders of high court will , a selective, members only, luxury wellness club that comes under the category, intelligent leisure. how do i become a member and what is intelligent leisure? i cannot wait for that one. thanks. now we will check out the nasdaq with abigail doolittle. abigail: we have a lot of stocks on the move. starting off with electronic arts shares, reversing a premarket loss, it appears investors are paying attention to the fact that electronic arts posted a small profit as opposed to the 2% loss that analysts had been estimated. the the revenues by 5%. fact that the full-year sales forecast is slightly below but. is saying he sees room for the upside, 2017 revenues with stocks higher. training lower on the open our shares on pace for the

matt: i am matt miller. are there too many banks in europe? a ceo says yes and he has a solution.ready to fork lot of reality. the debate onned the so-called shery economy. is it good for companies and bad for workers? the bests one of capitalize lenders in the eu, but that does not mean the bank will buy troubled -- isla tells bloomberg there no industrial rationale for tesla to make the deal. he still thinks the other banks in europe should not consolidate. >> in my view, there are too many banks. there can be consolidation within the countries. if you want to make a merger, you have to create value for shareholders. exploitssible to synergies. sharea2 $.5 billion trying to prove -- reverse its stock slump. the bank is bouncing away from annual dividend increases. a 10% return on equity's. the bank says quarterly profits -- the prospects of a recession in the u.k.. mexico is making a big push to reduce air pollution. company will auction it billion dollar bonds for energy process. a drivingy propose ban and forced factories to oppose production. the worst smog in a decade. expen