angela merkel, france for a long, and matteo renzi -- francois hollande, and matteo renzi will hold talkstalian aircraft carrier. angela merkel has accepted that it will take some time to decide britain's relationship with the eu. throw your thoughts in on time in terms of this brexit conversation. what many leaders will be talking about. migration and turkey is also on the agenda. about the timing of the triggering of article 50, we had a story over the weekend that actually the first six months of next year, or the summer of next year might be where we go, instead of later in 2017. what is your take? geoffrey: that sounds like the optimal time. unofficial talk going on behind the scenes. the fact that these three heads of government are speaking today, that's a sign they want to determine their own negotiating as well, trying to avoid the political calendar in france next year, which will be quite disruptive to markets. i think both sides want to find the optimal solution, but also it's important not to track the things out to much, and also try not to test people's patience. in therepo

this man, matteo renzi, the italian prime minister, facing no shortage of economic challenges.ve a great story on the bloomberg overnight talking about challenges he faces. the italian government needs to deliver the best six months of economic growth since 2000 if they want to meet the demanding gdp goals they have set for themselves. italy is facing a stagnant economy. they have emerged from the longest recession since world war ii, but the economy is still barely stagnant, and banks are indebted and face increasing challenges to matteo renzi's leadership, adding up to italian matters on the agenda as they meet on the west coast of italy. that is one thing we will be focusing on during european programming. yousef: anna, some interesting stories over the weekend also. the fact that the fallout from the brexit vote could be hitting the city of london? anna: specifically, we will talk about -- i'm sure there are many viewers in your part of the world interested in what's happening in the u k property market. we have numbers from countrywide, forecasting the london housing boom

the prime minister, matteo renzi, touring the damaged cities this afternoon and thanking those first responders for their dedication. italian authorities believe more than dianne gallagher, reporting. president obama called italian president sergio mattarella and offered help. he also praised the quick actions of the first responders. no word yet if any americans were hurt or killed. it's been about ten days since flood waters swept through louisiana and forced people to evacuate. some are now returning to their homes... and discovering what the floods did to everything inside. ""i'm 5 feet tall and if you see the line in my house i had at least four feet of water in my house." " many of the flood victims do not live flood plains... so they do not have flood insurance, officials estimate only 12 percent of people affected had the insurance they'll need to rebuild. those people in non-flood zones can only get about 33 thousand dollars from fema... which will not be enough to cover damages in most cases. reality star kate gosselin is opening up... about why one of her famous sextuplets

it is a test of matteo renzi's leadership. ee leaders meet to set a course without a u.k., what do you think of their chances? mike: the fact renzi seems to be distancing himself from a notion that if he loses the referendum that he would have to resign. given that the polls are close, swinging this way and that, it is hard to predict what the actual outcome will be. the fact he is pushing back from previous comments that he would resign if you lost is a positive, because if we lost renzi from italy that would put italy into a period of political confusion which would be worrisome for markets. anna: it has been fairly resilient in the face of brexit but u.k. data has been fairly resilient. so far, you're skeptical on whether that will continue? skeptical about the fact that you can't economy will continue to show the signs at the moment. if you look at the pmi data of the u.k., it absolutely fell off a cliff. compare that to the european data which has held up relatively well, and what you are seeing is the concerns around brex

francine: we have on the merkel, matteo renzi, and others meeting without the u.k.he fact that they are all the worship -- i don't see it being comfortable, but do they just need to prepare in dealing with the world without the u.k.? and how much impact will it have on their economy? >> i thought ian was right; it came to the heart of what they will be dealing with, contagion of agents. you look at the way the negotiations play out, which will be at least a two-year gain. there will be signals to lots of other economies in the message they take away will derive on what chance does the other drive out of the european union. francine: we spoke to joseph stiglitz on friday, and he said anything is better than europe at the moment. if that is the realization, would brussels not try to break up, or at least let the eu breakup if that is the wish of the people? >> one of the frustrations that i have -- they are separate concepts. at its core formation around cooperation is amortization has delivered lots of economic benefits. the eurozone is an unmitigated disaster and wi

reporter: matteo renzi was quick to say everybody thought the european union was finished after brexitd these three leaders were trying to emphasize that europe was the solution, not the problem. they discussed defense, terrorism, and economic issues you mentioned earlier. francois hollande was at pains to say we need to generate more economic growth. all three leaders had a focus on young people. all wanted to generate jobs for young people and try to create a different kind of future. turn the pageaid, to create a different kind of europe. it is important to emphasize these leaders are facing some harsh realities in their own countries, even though there was a push to downplay nationalism and egotism in their own countries. there are elections looming in france and germany. the italian prime minister is facing a constitutional referendum in november, which will undoubtedly be a popularity poll on his status. these leaders are creating a picture of solidarity and unity, building a future for europe together. someare trying to downplay of the problems in their own countries, in their o

italian prime minister, matteo renzi, is promising a rescue effort. hearts fallenith with tears want to remember these are stories of families, human, women, men, beings. therefore, the primary sentiment commotion, pain, and profound emotion. sentiment that can be found across the country from the north to the south political or personal ideas. this is an italy that's in solidarity with the this territory. catherine: hundreds of rescue crews from across italy and the thecan have flocked to towns, a 90 minute drive east of area.n a popular tourist reporter: rescue operations in amatrice are well underway as crews search for the rubble.rough it's been slow-going as rescuers appeal for supplies. we need chainsaws, shears to bars and jacks to remove beams. we need everything. the town the center of has been reduced to rubble with entire buildings demolished. big cracks can be seen in the few structures still standing. residents recount their ordeal. fell on mye ceiling head. i just managed to put the pillow hit, head and i wasn't luckily. reporter: the ep

italian prime minister matteo renzi has promised that the building will be a national priority. as his government faces tough questions about safety standards, it is trying to prove it has what it takes to bring life back to this devastated region. terry: clashes between police and antigovernment protesters have erupted in zimbabwe's capital, harare. the violence comes a day after a judge ordered authorities not to interfere with a protest march. witnesses said at least 40 people were injured after police used batons, two gas, and water cannons against the demonstrators. the funny march was organized by 18 opposition parties including the movement for democratic change led by morgan chung right -- morgan tsvangirai. demonstrators are demanding the resignation of president robert mugabe, who has been in office since 1980. buses have been taking people outss eac suburb. under the terms the agreement, 700 armed men will leave for the rubble-controlled city of idlib. all 4000 civilians will move to government shelters. the pkk has c c cresponsibilityi bomb attack on a turkish police

intellectual imprisoned here first envisioned a united europe and monday, italian prime minister matteo renziosted angela merkel and france while aland -- francois aland. the ship serves as the flagship for the eu's migrant rescue operation in the mediterranean. a key issue in europe's drive to ensure security, says chancellor merkel, but more must be done. >> it's also conducting training on how we can protect our borders, which is one of our main challenges in ensuring freedom of movement inside the eu. >> president hollande discussed security against terrorism. >> the main risk for europe as well as other nations is a dislocation, fragmentation, egoism folding in on ourselves. all three leaders face declining poll numbers and political pushback from rising far right parties. ramsey kicked the talks off with a visit toward -- at the tomb of all terrio spinelli, he cowrote a manifesto calling for a federation of european states. 80 years later, the european union is a reality but faces greater challenges than any time in its history. terry: max hoffman is in italy following this story for us

angela merkel, francois hollande and matteo renzi spoke to reporters before their meeting on an italian aircraft carrier off naples. renzi said many people assume that brexit would trigger the end of europe, but that isn't the case. details other talks have not been disclosed, but the leaders are believed to have worked together on job creation for young people and boosting security cooperation in response to a series of terror attacks. >>> in our series "women of vision "we meet figures who are challenging society and prevailing norms. today expat catherine jane fisher. she's leading a campaign that seeks justice for victims of sexual assault by u.s. servicemen and base workers. >> tens of thousands of people gathered in june to protest a crime that shocked the nation. weeks earlier police arrested a former u.s. marine who was working at a military base. they believe he assaulted and murdered a 20-year-old japanese woman. catherine jane fisher traveled from tokyo to join the rally. years ago she endured a similar attack. >> i'm not afraid. i'm not ashamed to say that i'm a survivor of

prime minister matteo renzi and a representative of pope francis were among the mourners. many of the medieval buildings collapsed. the uzbek president remains in intensive care in hospital after suffering from a brain hemorrhage. the news was confirmed by his daughter's instagram post. authorities confirm he is stable. he is the only president of the former soviet republic. -- since gaining independence 25 years ago. celebrations to mark the anniversary have been canceled. in somalia, a car bomb has exploded outside a hotel in central mogadishu, close to the presidential palace gates. 20 people are reported to have been killed. the islamist group al-shabaab says it carried out the attack. more than 30 people were injured, including politicians and journalists. a security conference was to take place at the same hotel. you are watching "bbc world news america." still the come on tonight's program can we take a ride through america's rust dealt to find out what people really think about hillary clinton and donald trump. minister, economy emmanuel macron, has resigned from f

you look at whether matteo renzi can even stay in charge.ve eurozone, not bad figures, germany powering ahead, italy falling behind. stephen: and it is structural, italyularly in italy area is a very serious problem for the eurozone. burden is-sector debt something that i don't think the italian economy can grow itself out of. the issue is not only one for .he ecb i think the scope and scale is really important. oil.about the level of minsky -- adam sky on the state of supply and demand. from london and new york, this is bloomberg. ♪ francine: live pictures from hong kong. we are talking china, we are talking some of the credit that we are seeing. i'm francine lacqua. tom keene is in new york. growth grewermany, less than predicted. it is a signal that europe's largest economy may be strong enough to handle the u.k.'s decision to leave the eu. italy's economy unexpectedly stalled. the jobless rate is above 11%. jpmorgan as liquidating a fund focused on japan after significant redemption. dipped to about $17 million last week. china's recent

(matteo renzi, italian prime minister) we are going to work because in the next few hours we must continue to bring people alive from the rubble. right now... equipment is being moved in to clear the way for rescue and recovery teams. and clear across the world...another poweful quake... a 6-point-8 magnitude earthquake struck central thailand today. while most buildings remain intact.... two deaths were reported. data from the u-s geological survey shows the tremors were felt as far away as bangladesh, india. ((ad lib and toss to wx)) ((ad lib and toss to wx)) late night rain has moved on and drier conditions will not takes it's place. mainly sunny skies are expected with some residual humidity but not enough for rain chances within the city. high temperatures will shoot back up to normal values; ranging between 99 and 105 degrees valley wide. new this morning.. the son of mayor pro the son of mayor pro appearance in court..... shane ross faces 3 counts of robbery w/ a deadly weapon and 3 counts of burglary while in possession of a gun... the suspect told police he needed money to pay for

meanwhile, the italian premier "matteo - renzi"... has authorized 'millions of dollars' in emergency funding... and ordered the 'cancellation of taxes' -- for the towns 'wrecked' by the earthquake. at least '250 people' have been killed.... and there are 'hundreds we'll keep 'tracking' this story 'overnight' -- here in the 'breaking news center'. look for updates 'tomorrow morning' -- here on eyewitness news. italians here in the triangle -- are working to raise money for those impacted by that devastating earthquake. dejuanhoggard joins us from the raleigh eyewitness news center with more on how you can help. dejuan? tisha, the group is called the triangle sons of italy. there are 90 members in the chapter... focused on maintaining italian culture. and after the devastating quake, the group wasted no time in helping "nicholas verna is a board member with the triangle sons of italy... a local chapter of the order sons of italy in america. billed as largest organization for men and women of italian heritage. the triangle chapter is wor

prime minister matteo renzi has canceled a planned meeting with french president francois hollande inchina's central bank has injected cash into the financial system using repurchase agreements for the first time since february. this comes amid speculation policymakers are looking to cool a bond rally. a record rally in chinese sovereign debt has prompted traders to increase leverage to amplify returns. oil has resumed its drop after industry data showed u.s. stockpiles rose, keeping inventories at the highest seasonal levels in years. this followed a jump in prices on speculation iran may support an opec freeze of output. there are reports that tehran has sent positive signals about supporting joint action. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. francine: we stand on the brink of a technological revolution that will alter the way we live. those are the opening words of a report by the world economic forum. will technology finally provide the boost to productivity that the global economy has been des

((dave courvoisier)) >> italian premier matteo renzi says he will head to the earthquake zone later today./// ((christianne klein)) >>> the family of a murdered teenager comes face to face with the accused killer. opening statements in the trial against michael solid got underway today. he is accused of running over 15 year old marcos arenas while his friend was attempting to steal the teenager's ipad. 8 news now reporter karen castro is live outside the regional ((karen castro)) >> witness testimony is still going on inside the courtroom at this hour. during opening statements this morning, the prosecutor told jurors michael solid is a murderer but his defense attorney says it was an accident. the family of the victim, 15 year old marcos arena, packed the courtroom today. many of them cried as the prosecutor showed a graphic picture of the victim's body. and said there was overwhelming evidence including surveillance video, witnesses, and dna, to prove solid hit arenas with a white suv while the defendant's friend struggled with the victim over an ipad. however, the defense says, accordi

german chancellor angela merkel, france holland and matteo renzi promised to increase joint european security efforts in the wake of terror attacks. apreme leaders spoke aboard aircraft carrier. crumpton, this is bloomberg. bloomberg west does next. -- is next. ♪ >> this is bloomberg west. coming up to my tech takes charge. why the sector is exerting more control in u.s. markets than at any other time since the.com bubble. this is going e-commerce start up behind the great wall. toy cut a deal with alibaba give amazon a run for their money. and china's big plans for the advertising aid. latest to bes the snapped up by chinese investors. the ceo joins us later this hour. first, to the lead. tech stocks exerting more control over u.s. markets than in any other time since the internet bubble. the largest tech stocks, we're talking microsoft, alphabet, this split, amazon, seeing massive multiyear rallies. that is closest to its widest ever. we have more. break it down with me. exit is getting to be about 21%. when you look at the magnitude in terms of how much the percentage changes, it

german chancellor angela merkel, france holland and matteo renzi promised to increase joint europeaneffos

increased pressure on its banks and a referendum in the fourth quarter, that may cost the premier, matteo renzihis job. we will come back to that over the show. and i want to show you sterling. it is down today, but it is headed for a weekly gain. almost 1% on the week. a little resiliency, because we have had data suggesting there is resilience in the u k economy post brexit -- in the u.k. economy post-brexit. inie: stocks pulling back the united states as well. a little bit of a deeper decline than yesterday, with the dow leading the drop. down nearly 100 points. around 95. the s&p off 10.5. the nasdaq down about 16.5. the smallest decline of the three. we do have pressure from currency, but also from the energy complex. at least that was the case earlier. look at the imap of the groups on the bloomberg. only a couple of subgroups in higher.t is doing viacom doing the worst as we see a bounce in bond yields. utilities typically bondin reverse to those yields. speaking of energy and bounce backs, take a look at what is going on. look at oil. we have seen a higher much of the week. , bouncingn

angela merkel, friends fund, and matteo renzi are planning to hold a summit. let's go to rome.on a warship? >> it is renzi who likes symbols. he had that news conference influence with merkel in front of the massive statue of michelangelo's david. this time, the symbol is a warship because this is the flagship which is heading up the european union's naval mission in the mediterranean to search and rescue for migrants and also to find the people smugglers. that is one of the huge challenges facing the eu and that is why renzi has invited them on board. francine: are they talking brexit? >> francine: say again? francine: are they talking brexit? >> the are talking brexit. they are talking all the challenges facing the eu, including migration, including poor economic growth, foreign affairs with turkey, the deal on migration there a between turkey shaky,ece also looking lots of issues up for discussion. francine: any chance of concrete progress on how the eu can make a deal with the red lines, whether they can still have access to the single market or part of the single market if

the prime minister matteo renzi touring the damaged cities this afternoon and thanking those first responders for the dedication. italian authorities belief that more than 1,000 have already been displaced. dianne gallagher reporting. michelle: at this hour we have not receive word of anyone from our area injured or killed in the earthquake. catholic university which has students studying in italy says all of its members are safe and accounted for. the devastation of the earthquake is thousands of miles away but the effects are felt here in our area. ahead at 5:30 our q mccray speaks with italy's ambassador to the united states about how they are responding to the crisis. leon: all right. staying overseas for the moment now. this is developing at this hour. security guard is dead and 18 ot attack on the american university in afghanistan in kabul. there are conflicting accounts about what happened there. we do know the attack began with an explosion around 7:00 local time which happened to be as the students there were eating dinner. students and staff most of them from foreign countries barr

a couple of hours ago italy's high court gave the green light to matteo renzi.f he loses the vote it would open italy and europe up to further political instability. >> switching to currencies, according to reports reaching new highs ahead of the bank of england meeting last week suggesting that shorting the pound has opinion a winning trade for hedge funds as it continues to weaken here at 1:30. that's seen as a key technical level. bond traders are are betting on further stimulus from the bank of england that pushed them even lower. the differential between the u. s. ten year and u.k. ten year note reached a 16 year hawaii lighting the divergence in monetary policy as the fed looks to tighten rates after the u.s. jobs report and the boe looks for further stimulus and easing measures to offset the brexit weakness. >> thank you. coming up, apple's moment of truth. that's the headline of the latest issue. the man that wrote it is going to join us. when we come right back. >> donald trump will deliver his economic vision for the country in detroit. he will call fo

have been doing everything they can to reach these affected areas, the italian prime minister, matteo renzi, called a state of emergency almost immediately which allows everybody to get into place. the army has been sent out too as well because they've got the kind of heavy equipment that's going to be needed to get into these areas. one of the concerns is just access at this point. these towns are all 200 or 300-year-old villages. even though this is a seismic area, you know, these buildings weren't built for any sort of movement like we saw overnight. we've heard as many as 14 dead but there really are concerned that number's going to go higher. the mayor of amatrice, the town -- it goes to the epicenter, a town of 2,000 people says half his town is gone and we've seen report after report on italian media and then social networking of people describing how they're digging through the rubble trying to find survivors, stories of three generations of families there spending their summer holidays together there. this is a very popular part of italy where people come from all over europe and t

. >> and we know that prime minster matteo renzi will be meeting with the cabinet today about what efforts should be put in place. a lot of discussions going forward how to secure it will buildings. >>> bringing the focus back to the trading picture here in europe, just over an hour into the session. this is the picture across the stock europe 600. seeing quite a bit of red there. that is breaking a three-day winning streak we saw in europe. again in u.s. session overnight particular weakness in bio care health stocks. regarding the epipen and price gouging warnings that really we'll get into that. overall the trading story here, we are off just habit 1%. some individual stock movers in focus, particularly when you look at glen core. is german market also lower by 1%. the french cac trading with a similar raeng and the swiss as well as in the red by 1%. investors have been counting down to janet yellen. you have to wonder what exactly she can say to move markets one direction or the other. there you have it, sectors: basic resources off. health care continuing a trend with stocks off 2%. a

programming note for you, be sure to watch julia's exclusive interview with the italian prime minister matteo renziomorrow. >> when we come back, silicon valley meets capitol hill. why tim cook is backing hillary clinton for president and even hosting a fund-raising event for the former secretary of state. record highs for the s&p. dow is up 34 in a hurry. more in a minute. >> the family of the service member that died fighting for the u.s. demand apologies from donald trump. they were on the "today" show this morning. >> this candidate amazes me. his ignorance. he can get up and the entire nation, the communities, the minorities, the judges. >> afghan authorities say an overnight attack on a house for foreign contractors killed one and wounded four others. a huge crater as you can see there at the scene of the explosion and a highly damaged compound wall inspected earlier this morning. syria reporting heavy fighting at a palestinian refugee camp on a key road into aleppo. government forces repelled an attack by opposition fighters and luke akins jumped into the history books yesterdayment i couldn

matteo renzi, italian prime minister we are going to work because in the next few hours we must continue to bring people alive from beneath were sleeping. voice of michael gilroy, witness it woke us up. it felt like the bed was on rollers. at that point we knew you know and just tried to get out of the building as fast as we can.wednesday's earthquake, not the first in recent history for italy, striking near the site of the massive 2009 quake that killed more than 300 people. as today's death toll climbs, rescue crews scramble, searching for signs of life. knowing every hour counts when it comes to saving survivors. mah-tay-oh renzee , touring the damaged cities this afternoon and thanking those first responders for their dedication. the last major earthquake in the country took place in the city of l'aquila la-quilla in two thousand nine.more than three hundred people losing their lives in the quake. back to you. one local man is watching everything that's in italy especially close... his family is there,... and since the quake... there's been no word from his cousins. krystle kacner jo

he also sat down with italian prime minister matteo renzi before hosting an hour-long q&a that wrappedago. mixes business with pleasure. >> yeah. hard to get through security. probably found a way. maybe a private jet. i don't know. >> interesting. mike what are you watching going into the afternoon in the market janchts quiet rally. see if it sticks with oil down. >> all right. with that we it over to the "halftime report." >>> guys, thanks. welcome to the "halftime report." i'm scott wapner. top trade this hour, the rebound rally. stocks moving higher just days after the fed signaled higher interest rates could soon be on the way. so are today's gains a buy signal for investors? with us for the hour, joe terranova, sarat sethi, jon and pete najarian and, oh, yeah that guy. jim cramer, host of "mad money." so glad yew with us. >> and that you are back. >> the market to me,

. >> sticking on that theme, look at this one, italian prime minster matteo renzi who julia just spoke taking to twitter against turkish parking light erdogan, coming after lashing out at the justice system for targeting his son. calling the italian judges to focus the attention on the mafia there instead. erdogan saying the issue with his son could tarnish italy and turkey's relationship, but then renzi shooting back in twitter in italian saying in this country, judges respond to laws and the italian constitution, not to the turkish president. it's called the rule of law. so an interesting battle on social media over what's happening with italy and tuturk >> it's not just leaders in this can country. >> >>> bit coin plunging after being hacked. hackers stealing more than 119 bit coins. that's worth 172 million doll s dollars. announcing the breach and freezing all customers counts yesterday. reacted and slid 26% that's a to month low for bit coin continues to get plagued by hacking its electronic digital currency. the backers would say is part of the growing pains. this is what happen

italian prime ministermateo -- matteo renzi will attend a funeral where 49 died in state. >>> and meeting in geneva, switzerland. john kerry urging russia to strike a deal with the u.s. on fighting islamist militants in syria. >>> something that hasn't happened since 1961. cuba announcing it's ready to receive regular commercial flights from the u.s. beginning next week. jetblue will begin direct flights from for the lauderdale to central cuba wednesday. >>> officials from the world health organization say so far there are no confirmed cases of the zika virus contracted by anyone associated with the rio olympics. since the virus does have a one-week incubation period, it is possible a few cases may still occur. so far, so good. >>> that's the new update this hour. back to you. >> thank you. >>> the athleisure trade, lulu soaring this year. nike falling behind. talking about those stocks and much more when "halftime" continues in two. romantic moman happen spoaneous, so w pause to take a pill? or stop toind a baroom? cialis f dse, s ofph, like needing too frequently, ll youdoctor about all

matteo renzi is facing a referendum, which is critical to streamlining and bolstering confidence in thend the banks, that he can seek a bailout now, so even if you really wanted the state finance one,e the way spain got new eu rules preclude that type of bailout in most circumstances. the market is looking at him and saying wow, he doesn't have the option now the and perhaps that is what we see reflected. guy: thank you for joining us. sees output eia rising in 2017, but still fully short of consumption. this is bloomberg. ♪ caroline: welcome back. 30 minutes into the trading day -- let's have a look at how the markets are shaping up. it has been a day of route across the board, coming off lows of the ftse 100, almost breaching into the neutral territory. the cac 40 is still the laggard today. one key stock on the rise is g4 s, outperforming on the back of its numbers as they seem to be showing that numbers are doing better than anticipated. they continue to see their business prosper and we see profit of 10%. -- the phenomenally successful cartoon, up 8.6%. offer and if the they reject

italian prime minister matteo renzi arrived in amatrice late today.lier, he promised the area his full support. >> ( translated ): the >> woodruff: it's slow work for the rescue workers, who are combing the wreckage for survivors, often times using only their hands. >> ( translated ): we need chainsaws, shears to cut iron bars, and jacks to remove beams-- everything. we need everything. >> woodruff: the hard work paid off in accumoli, where a 65-year-old man was pulled out of the rubble after nine hours. ( applause ) applause followed the man as he was loaded into an ambulance. we get an on-the-scene report now from special correspondent christopher livesay, who is in amitrice, italy. we spoke a short time ago. christopher livsay, welcome. first of all, you've been there all day long. what are you seeing? >> well, i'm seeing what looks like the aftermath of a war zone. the imagery all around me is much more similar from what we're seeing come out of places like aleppo and syria, not the idyllic hillside town of amatrice. normally this is a place where

matteo renzi says europe is not the cause of all problems, for the solution. a strong foundation. pretax profit at persimmon rises nearly 30% in the first half, while the ceo tells bloomberg that, despite brexit, the market is robust an. and the dollar loses ground as the market waits to see what janet yellen will have to say at jackson hole. caroline: and manus, all the market waits to see what the pmi data will be today, from france, germany, the eurozone. it looks like there is risk appetite, looking at the futures market. we are called higher after yesterday's slight selloff in the dax, cac, and ftse. a bit of risk appetite ahead of jackson hole, and perhaps suppression of concerns about the u.s. ranking up hikes. it comes down to this -- the mediating bond traders seem to be happy with don's. it is the fx traders that are skittish. the dollar index is down, the market retreating. yesterday was rather gung ho in terms of stanley fischer's comments. today it is all about positive thought. wirp on your bloomberg says 24% chance of a hike, 51% in december. the dollar is vulnerabl

plus italian prime minister matteo renzi speaking out. and then earnings from pfizer also out a short time ago. we're going to run you through those numbers and hear from pharma analyst barbara ryan about whether or not she likes them. a lot more to do. don't go anywhere. "squawk box" right back after this. narrator: the best place to find adventure... kubo: come on, this way. narrator: ...is in the forest. kubo: wow. narrator: so grab your loved ones monkey: don't even. narrator: and explore a world of possibilities. kubo: it's beautiful. narrator: visit discovertheforest.org to find the closest forest or park to you. >>> welcome back to "squawk box" this morning. procter & gamble just out with quarterly results. joining us is jon moeller, cfo of procter & gamble. he's also a member of our cnbc global cfo counsel. looks like you beat on the top line. i don't know if you heard us trying to understand how to think about eps. i know there's a diluted number, a core number, there's a couple of things moving around there. help us through how

italian prime minister matteo renzi has announced 50 million euros for short-term relief and assistance. and a new long-term program to repair italy's aging infrastructure. joining us now from just outside amatrice, italy, is lucy kafanov. good morning. >> frances, good morning. i want to start off by explaining to our viewers exactly where i am. the town of amatrice is about 15 minutes down the road, but as you can see, the road is completely blocked. no one can get in or out. that is because the bridge leading in to the town has collapsed partially overnight. the mayor of the town was here earlier. he told us all of the roads at the moment leading in and out of the town are not secure. they're trying to get a way in. and this leaves amatrice, the hardest-hit area, the most devastated area, effectively isolated. now it just goes to show how difficult conditions are in this mountainous region that's been struggling under wave after wave of aftershocks. more than 900 of them since the quake on wednesday. the most powerful one, 4.7 magnitude this morning. 6:30 in the morning. that is what

>> it will certainly discuss that, civil because matteo renzi is going to a crucial referendum.ois hall on is going in spring. there will be a push in southern europe to discuss it but as you i think the brexit issue is the most pressing. if you look at the slow pace at which we have been moving ahead, it's clear that there's a lot of work to do and the pushback from the north against anything more substantial in terms of fiscal expansion will be significant. anna: thank you very much. ou reality.crude we look ahead to the offshore northern seas conference starting in norway today. this is bloomberg. ♪ anna: welcome back. bank holiday monday in london, but the pound is on the move. 131.17 against the u.s. dollar. markets in london will be closed, or lacking in volume, but elsewhere in the rest of europe we will see a full equity trade. let's get the bloomberg business flash with christine harvey. christine: thanks. chrysler hasat said he sees samsung electronics as a possible strategic partner. sergio marchionne's comments, come amid several car buyers. >> we have a very good re

the prime minister, matteo renzi, touring the damaged cities this afternoon and thanking those firstesponders for their dedication. >> reporter:italian authorities believe more than 1000 have already been displaced. dianne gallagher, reporting. >> pam:today is also the second anniversary of the napa earthquake. this video shows the aftermath downtown. the 6-point-oh earthquake killed one person. and did hundreds of millions of dollars in damage. today, the state legislature passed a measure, requiring school districts in earthquake- prone areas of california. to secure heavy furniture and fixtures in classrooms. >> pam:this is in direct responseofficials say, if that quake had hit while children were in school. it could have been catastrophic. >> catherine: >> pam:after months of investigating a known san jose street gang police announce several arrests. in a number of cities across the state. but even more shocking. is that one of their very own. was allegedly a part of it all. san jose police say they've arrested officer derrick antonio. >> steve: kron 4's alecia reid joins headqua

matteo renzi plans to visit the area later today to louisiana -- later today. louisiana officials are speeding up the removal of flood debris. the emergency order covers 20 parishes and ends at timber 30th. ohio's elections chief has cleared the way for libertarian presidential nominee gary johnson to p are on the fall ballot. the axes had been in question after party activists cemented paperwork and voter signatures on behalf of a different candidate. they said they plan to swap in johnson's name. scarlet: thank you so much. foil continues to decline after industry data showed that u.s. highest in thee, seasonal level in three decades. discussed his research. that is is a market going into balance. we have two imbalances in the market at the moment. we have a huge oversupply in crude inventories. we have an oversupply in petroleum products. they are in high-frequency areas like oklahoma. we believe that crude oil inventories are actually pulling down. and yes, today's fall in prices was a data released last night which showed a big crude build. alix: you're ta

plus italian prime minister matt matteo renzi speaks out.as to say on the possibly referendum. le trading so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade your business needs better technologywho wants to to drive better performance. so you need it to be reliable and fast. really fast. introducing the comcast business summer savings event. fast internet speed to drive performance, plus cutting edge wifi for your employees and customers, and voice mobility so your calls find you wherever you are. get some of our most advanced products at a great price with over $500 in savings. call today and ask how to get these savings plus a $250 prepaid card. comcast business. built for business. >>> good morning everyone. i'm sue herrera. here is your cnbc news update at this hour. president obama welcoming the prime min

it's a state funeral which means that the italian prime minister is here, matteo renzi is here.minister is also here. they expect that service to get under way any moment now. as you can see, hundreds of people have come out of the neighboring towns and villages to pay their respects. you can't see it from here. but actually, there's a church just behind here that put up a large tv screen so that people can follow the service as it begins. i was quickly inside earlier. and as you can imagine, it's a very sad scene inside. there are three rows of coffins. and each family is clustered around a coffin. each coffin has the name of the deceased taped to it. and there are flowers and often photos of the deceased on the coffin. and what really strikes you is just how many people there are survivors themselves. you can see them wearing casts. broken arms, bandages on their face, on their necks. these are the same people that were pinned down in the earthquake that were coupled with rubble and debris and were pulled out. but in that the same moment, they also lost their loved ones. they'

italy's prime minister matteo renzi was at the service in the town of norcia.o lose courage. hundreds of local people joined grieving families to mourn those who died and firefighters who tried so hard to rescue survivors comforting people who lost loved ones. two of those were just young children. one firefighter left a heartbreaking note on the coffin of a little girl apologizing for arriving too late to save her life. and even at the funeral as it was being held, emergency services continued to search through the wreckage. but there's little hope that anyone could have survived in the rubble until now. the last survivor was rescued several days ago and today only more bodies were recovered. now the government has promised to start rebuilding straightaway. it's giving $50 million in emergency aid although reconstruction could cost billions. with over a thousand aftershocks, there are calls for better building safety standards to prevent a similar track academy the future in this earthquake-prone zone. and the death toll from this earthquake continues to rise

italy, we are facing increased and are on the banks referendum in the fourth quarter that may cost matteo renzir. important to keep an eye on. show you sterling over five days. a little weaker on sterling. 130.82. we do have a number of data points showing the u.k. economy is showing a little resilience post exit - post-brexit. jonathan: investors have been doubting the resilience of mobile equities for some time. this chart shows short interest following as investors feel more bullish. they are -- there are 23% more long contracts than short contracts. i want to bring in kate moore, blackrock's chief equity strategist. i think some of the move we have seen and equities this .ear has been short covering some of it has been moving up closer to a neutral allocations in equities. i suggest many investors -- and most of us are multi-asset class investors -- are looking at the relative opportunities between fixed income equities and are saying equities may not have a great fundamental story. it is just ok, i would suggest. but it is still a better picture and valuations are less demanding than other

. >> we are definitely of the opinion that it is one of the big political challenges until renzi isand if matteocessful with the referendum there is a risk of resigning then you can go to 160 basis points. he will be metnk with such political uncertainty. if you did then he can always argue to wait with further elections coming up. it's the month, where he announces the whole qe program will be extended by an becauseal six months that kind of profitability -- it would mean that loans get a bit more attractive for european banks. we also think that at a certain point in time, he has the amenities to get a bit more buffer when it comes to scarcity, which he already faces in the german bond market. renziiesguy: how the ecb reactf lost it? we talk about what's happening in the italian banking sector. how would the ecb react to all of this? do we fully understand the reaction function ahead of this vote? they will justk ask for -- they can to do a lot. they will continue to buy b tp's, that's for sure, and it's obviously helpful to have it at very low levels. but i don't think that he can do a lot ab