jp morgan, morgan stanley losing 3 to 5%. this despite rising expectations of a rate hike being announced next week. only three companies in the financial sector was posted gains for the week. >> all right. thank you have much. let us dive in a little more into the financials. why are you taking a closer look at goldman sachs? >> in a way i've picked this one and it could be a lot of names. the point being that the banks have not acted well of late and goldmann is underperforming the banks so with that i wanted to start with maybe the problem or what we all know is going on. this of course is the etf that most closely tracks what's going on in the high yield bond market and i would say the word ugly comes to mind or maybe something along the lines of train wreck, disaster, crisis. here is the picture of again, hyg relative to the s&p. and we know the correlation broke down when qe basically started the equities, been able to continue and yet, hyg has not bought into the extra help from the fed, if you will. so i want to look

about 100 people will lose their equity morgan stanley trading unit.k will cut as much as 5% of its stocks traders and sales people as part of an animal performance-based cut. morgan stanley will replace them over the course of the year. you can always get more business news at bloomberg.com. i want to head over to europe. caroline hyde, we are following what you guys started hours earlier, which is you guys are pretty much in the red as well as we end the week. caroline: the hangover after the hike, seeing stock risk aversion selloff, just a sea of red as we enter the last few hours of trading. down by one point 8%. it is interesting who is falling and rising. one area of green, the miners. of some 6%. looking at france, they are driving higher. there are some rays of green as we see a little pitch up in m etal prices. overall, a downward day. digging into the industry groups. pictures say a thousand words. declining this afternoon. clearly, telecoms in particular, the worst performance. dig a little deeper, 2.5% lower than fixed line. everyone is fal

. -- the decision ame after -- reportedlyeople will lose their jobs at morgan stanley's equities tradingcut up to 5% of stock traders and sales staffers. that is our latest bloomberg business flash. it is episode 7, creative massive hype. records on opening day. paul sweeney is the head of research at global intelligence. disney really hitting it out of the park in all areas except perhaps espn, but it has found this market now with those movie characters. paul: if you look at disney's film output, it has locked in and driven off the franchises they have at pixar, and all the franchises they developed off of marvel. five-year starting a run of star wars movies. for the studio at disney, everything looks in great shape going forward. vonnie: and it is not just star wars. they are also going to be doing some indiana jones movies. about would suggest it is courage. did you like the movie? let's cut to the chase. paul: i liked the movie. i had my seven-year-old with me. i was there to comfort him. actually, he was there to comfort me. tom: paul sweeney, i want to go back to 1937. snow white

china signaled there had been some stabilization in the slowdown. 100 people will lose their jobs at morgan stanley'squity training unit. the bank will cut 5% of its stocks traders and sales people, according to "the wall street journal." goldman sachs says, "we were wrong when it came to microsoft." aser rating microsoft stock sell, they underestimated the impact cloud computing would have. japan today we started where the central bank announced to announce bonds as buys. i saw the markets initially did not know what it meant either. x eckley right. confusion. and euphoria turned into disillusionment. you can see the brutality of what happened in japan's trading. the nikkei, 1.9% global to we saw the japan yen strengthening at the dollar. then you have yields coming down. you see a rush to the safer haven. that is japanese debt. this does not show the volatility you were just speaking of. , it isly, the beginning quite lower. we saw the dollar, the yen weakening. it sounded like quantitative easing was bringing in investors and traders because the bank of japan was coming out saying we will buy more

armstrong junior to stanley morgan junior --- thats a pretty good catch that will help him get a job on sundays ---- cornhuskers beat the bruins 37-29 --- still, nebraska finishes with a losing record 6-7 --- but can smile after beating the bruins. how about "the sun bowl" --- they put a lot of money and effort into attracting tourists to the warm climate of el paso this time of year. university of miami against the trip from the paloose enjoying the sunshine. play of the game ---- this kickoff where the ball dissapears. cant find it ---- not sure where it went ---- nobody can see it. washington state over miami 20-14. and if you think it was a bit chilly out there on the field --- mike leach --- wazoo coach takes a bath on the sidelines ---- just another fun year for the sun bowl. ((ron futrell)) an op-end in the new york times alleges racism on the part of the ncaa is what motivated them to pursue jerry tarkanian for decades --- the article compares the paths of coach tark and the then head of the ncaa, walter byers --- tark died in feburary --- byers in may. ---- a few quotes from the article --- written by joe nocera "in byers heyday there was no more powerful or arrogan

morgan stanley. we lost two great young people, but did we lose them? how do we deal with that chasm of wealth, especially what you are saying in terms of do we need government support to give them resource snz some people don't have the luxury or feel they don't have the luxury to serve because they need to handle the bills. >> this is a good point. the path to the military, especially for many, for economic disadvantage or minority was financial. it was a quick way to a paycheck and a quick way to the g.i. bill to get that skill, but does it transfer to national service. how do you keep them from going at a path that leads them away from national security? >> i think it's a bit of a mistake to say that everybody who ends up in the military even a large percentage are for financial reasons. i knew in my platoon of marine infantry men, if you ended up in that place you really wanted to be there. >> some categories. >> but i think the point is you can't feel a consequence, a real negative consequence to doing national service, and i know, stan, you thoug

morgan stanley. we lost two great young people but did we lose them? how do we deal with that chasm, to any government support to give them the resources? some people to the law treat or feel like you have the luxury to serve because they need to handle the bills. >> this is a good point. that have to military especially for either economic disadvantage or minority, was financial, a quick way to a paycheck and a quick way to g.i. bill. to get the skill but if you going to go do national service not just on this right away, how do you keep them from getting, going down a path that leads them away from national security? >> i think it's a bit of a mistake to say that everybody who isn't in the military, even a large percentage is for financial reasons. i knew in my platoon, if you ended up in the marines come in this country and a place you really wanted to be there. spirit subcategories. >> i think the point is you can't feel a consequence, a real negative consequences to doing national service. i know, stan, you thought about this a lot. >> it gets to

losing stretch today, if we can hang on to those gains. taiwan seeing a bit of strength coming out. we are seeing a bounce in the suppliers. because weeresting, had jp morgan and morgan stanley overnights of -- suggesting that the demand could be over, and actually seeing a decline in the mind orders -- demand orders into 16. we are seeing strong gains out of those the players. all of the asian companies are rallying today, potentially on the rumor that in taiwan there is a secret laboratory being built to look into new apple technology. a number of these names, japan, samsung, heavy hitting suppliers i said to be involved. no confirmation, but that could be driving the gains and supplies and the broader taiwan index. we are also seeing weakness coming through from the emerging markets. stocks a little bit lower. let's take a look at australian stocks. seeing a recovery in most sectors, but basic materials and minors under pressure, oil and gas seeing a little bit of an uptick. let's take you through the big movers in sydney. financial gains ahead of those comments, that we are waiting on that financial outlook. these are the losers. oil and gas, lng. miners, iron or and gol