pnc is kind of anpp tier super regional bank that benefits from some capital market activity and moreipally commercial, generale banking activity which of the rise in interest rates on the short end continue to provide a cushion for the net interest margins and as for microsoft, the company' done very well-being picked up with the rally and technology stocks, giving back here and nonetheless, as businesses continue to spend and we saw great oumbers coming of the second quarter gdp report that showed business investment up over 7% on an annualized basis, software and technology tends to be the disproportionate sbeneficiary of businesnding on productivity and so we think that's a winner. >> excellent, that's winner, mark. thank you so much. mark with janet montgomery scott. >> you're welcome. >> aheadf another employment report. another report out this morning showed so-called jobless inching higher and still clinging to a 45-year low. the number of workers filing for new applications for unemployment benefits rose by 1,000 last week and a small omincrease. ects still say this is the st

this might come out more in the pnc discussion, but there's a real move by both russia and the saudi's obviously about strategic minerals. this strategic minerals drive right now by russia and the gulf states is something that brings them together. to cooperate each and this is why it's so important to pay attention to where these groups are coordinating their future strategies in terms of markets, emerging markets and so on.the targeting of africa will talk about later is part of this and i think it's important to remember that the both moscow and the goal states and some of the north african states are working in concert together to only bought in africa and the strategic minerals comes into play but we'll leave that for another. >> i think we have time for one last question. yes. please, ma'am. let's just wait for that microphone please. >> my name is sherry and it's all and sort of a question, sort of a comment but in egypt, the relationship between moscow and egypt right now, they are going to be building a nuclear power plant in two years and they cracked the deal, 8515 four russ

major big financials, jpmorgan, citi, names like pnc. of course wells fargo.e all like tanking, tanking is a bit of an overstatement. they were at 2:30:00 p.m. eastern time. they are down, goldman sachs, citi, bank of america. european banks are lower in part on this news that reports that president trump will put in place, another 200, a big chunk, none of the $16 billion. warren buffett no doubt interested in the overall picture of that. today he is 88 years old. he is the third richest man in the world. he told to spend his crazy eights birthday raising millions for glide, a san francisco based charity provides services to the homeless. anonymous couple bid $3.3 million for privilege of sitting down to steak lunch with one of the sharpest investors in history. before he did, "oracle of omaha," chewing fat on range of everything, markets, tariff wars, money and silicon valley stock he wishes he had bought. happy birthday, warren. >> thank you. thank you. 88. ever thought about lying about your age? >> no, that never occurred to me, actually. i might say, i'm

futures are up a touch let's bring in gus from pnc.number what's the most important number to you >> the most important number is we'll see the unemployment rated fall to 3.9% the job market is getting tighter and we're seeing stronger wage growth from 2018 into 2019. >> what would be a disappointing number for you what number would make you concerned that the federal reserve will have to put its foot on the gas pedal harder >> if we saw job growth of 250,000 or so, that would mean the labor market is getting close to overheating if we see excessive job growth, they may have to raise rates more quickly >> do you think they will? >> no, i think we'll see an increase in september then hold off for the rest of 2018, then a few increasesin 2019 the fed said that monetary policy remains accommodative, interest rates are lower than where they expected them to be, but they have some room. they can afford to increase rates gradually. so we'll see the job market slow but not a dramatic slowing >> we had a guest yesterday who thought they would

what i would say is the underwriting profitability in our pnc corporate solutions showed improvementear and we are seeing some important positive movements in the pricing we are able to achieve for those risks. guy: great to speak with you this morning. thank you for spending time with us on bloomberg. john dacey, the elisa martinuzzi cfo. the dutch brewer heineken is buying a $3.1 billion stake in china's large beer maker. .or more, duncan fox they are really taking it to abi, aren't they? they have done it in brazil and now china. duncan: it is not just the beer market. they had a half percent stake of -- before this deal today. it made sense. it is the perfect match. guy: in terms of what is next, how much money will he have to invest in this? how does it work from an investor point of view? thing: at this point, one not in the report monday was 5 billion euros of covenant to do deals. essentially, a 20% stake in the actual company that owns crb. that is their initial cash out. i don't think they will have to put much more. investment gets them and they have about 2.5 billion euro

morgan versus a bank america versus a citigroup or wells fargo or even the regional banks like bbt and pncps and nobody really has a significant competitive advantage. however, compared to those smaller banks, the advantage is huge i think you're going to see more of it as we go forward >> sure, given the investment they can make in technology. we're going to leave it there for now. appreciate you're taking time. thank you. >> thank you. >> you're welcome. >> don't forget, check out the entire story we've been talking about, it is on cnbc.com >> good scoop. we'll talk to him next hour. as we head to break, look at toll brothers, shares are rising up 12% after a beat on the top and bottom lines and lifting forecast on higher demand for luxury homes this had been a group that had been beaten up lately. quts squawk on the street" will be right back. shows you the places you can fly on your budget. so you can be confident you're getting the most bang for your buck. alo-ha. kayak. search one and done. your digestive system has billions of bacteria, but life can throw them off balance. re-align

pete: he was playing last night near home dale where i live pnc arena.. griff: i was listening to am radio getting news. there is quite a lot of it. griff: let's do some news now. abby: what does it tell you, griff? griff: a story came out of washington a federal judge in d.c. good morning we will give you a little bit of news you need. remember daca, deferred action for childhood arrivals. there is new action on that. has said he is going to -- we have to restart daca. the president shut it down. it doesn't have meaed me have ie affect. this was an executive order that was originally put in by president obama. but there is 20 days for the administration to respond. but it, is the next chapter in daca, which is a bigger part, of course, of the president's push for immigration reform, which includes the wall. pete: a lot in the weeds there. a little confusing. ultimately daca was a program selective enforcement of immigration was the policy under the obama administration. they carve out for the dreamers and the kids that came here as before they were 18.