offers from ppg since march.ong-running saga, turning down the latest offer. there was a deadline. for now no go. >>> recapping may's performance. >> so the dow closed up over 0.3% for the month. s&p rose 1.16%. the nasdaq posted a gain of 2.5%. best performing sector was information technology up 4%. utilities and consumer staples were the next two best performing. may's worst performing sectors, energy, down 4%. financials down 1.4%. telecom down nearly 1%. that financials trade has been hitting a lot of investors. it was so popular after the election. >> the pullback, we have seen that since the march high, the likes of goldman sachs down 16%, bank of america down 10, 11. the pullback really came in late march and early april. for may, yes, down 1%. that was all in yesterday's trade. goldman sachs down 3% yesterday. would have had a positive month of trade for financials in the month of may if not for yesterday's performance, which as we spoke about earlier, was an update on trading revenue from other banks. t

in april, ppg offered to pay £22.8 billion for akzo.e the firm was withdrawing the proposal. shares in the luxury shoe maker jimmy choo have risen following a robust figures in its trading update. the british firm put itself up for sale in april but there was no word in the statement about any offers on the table. and its reported that the takeaway company deliveroo is offering its drivers the option to be paid for each order they deliver, rather than per hour — a move which the company hopes will reinforce the riders' status as self—employed contractors, rather than employees. been a session of quite choppy trading , while the pound extended losses on growing uncertainty about the outcome of next week's election. the euro the euro against the euro against the the euro against the pound the euro against the pound there the euro against the pound there at the euro against the pound there at the bottom of the screen. let's look at tesco because it has fallen. supermarket giant tesco was fallen. suffering after a fresh tranche of industry

earlier this week dutch regulators denied ppg industries' request for a deadline extension.y report that construction spending is up 0.5% in april from a 0.2% fall in march. and finally, auto—makers report may us car and truck sales, with investors watching to see if the industry can snap a two—month streak of declines. a third down month in a row could put pressure on detroit auto—makers to order more lay—offs and production cuts. simon derrick, chief markets strategist at the bank of new york mellon joins us now. nice to see you. all this data from china, two differing pictures depending on which bit you choose to go with. and i think the weakening economy story is the central one here, the latest manufacturing numbers confirm that. over the course of the last month or so the chinese markets have been reacting very negatively to this, you had seen the equity markets down, moody ‘s downgraded china last week. over the last few days, something curious has happened, there has been talked about some of the big state banks in china, some talk about the national tea m china, som

ppg unchanged at the moment.hat's the one to watch later today. >>> on today's agenda, dollar general reporting before the open. broadcom and lululemon are out after the close. a ton of data throughout the morning. adp, private sector read on jobs, weekly jobless claims, revised productivity and costs, ism manufacturing, construction spending, auto sales are all out today. fed governor jay powell will speak at 8:00 a.m. eastern and then sit down with cnbc for an exclusive interview with squawk on the street at 10:00 a.m. so a lot to follow there. speaking of central banks, san francisco fed president john williams is expecting three interest rate increase for the year but says four could be appropriate. speaking in south korea this morning he added he doesn't expect any changes to fiscal policy to impact the u.s. economy this year, but they could have an impact on growth in the next several years. williams not a voting member of the fomc. a bit of corporate news, another top executive is leaving uber. this time i

ppg has withdrawn its proposal and will not make another. akzo rebuffed their bid.nted the company to hold talks with ppg. that is the latest bloomberg business flash. we provide context and background on issues of interest. we are looking at climate change. scientists are arguing about whether humans are warming the planet. the globe is on track to exceed the 3.6 temperature gain the united nations aims to prevent. the paris climate accord came in to a plan to cut emissions that trap heat in the atmosphere. during his campaign, trump questioned the science of climate change, vowing to pull the u.s. from the paris deal. his decision on the matter is p.m. wall street time. countries like china and india are the biggest polluters, but they claim fossil energy is the fastest way to take poor people -- here is the argument. companies and homeowners are installing more solar panels, switching to energy-efficient lighting. the cost of renewable energy tumbles. -- risingareness awareness has been field by an expanding body of research that predicts global warming will take

ppg. >> yeah. what is the shifting going on there, man?-- it's shticking -- we have to say shticking because it sounds so much better. listen, that was -- that was a formidable defense that akzo when they had won the court case. strong statements from the judge in terms of saying, hey, you know, you haven't really engaged the way your shareholders would like to, akzo nobel. they still went their way. that was it. ppg had today to decide whether it wanted to go hostile. it is withdrawing. that is over and done with. the way that many had anticipated it might go. including yours truly. because shtickings are tough. >> that was a lot of wasted time by ppg. i mean -- >> that was. >> it was a huge waste of time. i question that. i question given the fact that you knew from the beginning that this one was not going to cook. but people don't seem to mind because ppg -- they were trying to get hammer lock on coatings. it made a lot of sense, because sherwin williams got vas par. and mcdonald's hitting a high. now these are -- mcdonald's -- you hav

activist investor elliott management want of the company to hold talks with ppg.pt to fire the chairman. inkswagen may make more suvs factories in the u.s. it will bring it to full capacity by the year 2020. that could be complicated by uncertainty over the president and possible trade barriers. theresa may's decision to skip a televised election debate threatened to rebound on her as other party leaders lambasted her absence saying it proves she's unfit to lead britain. the prime minister is not here tonight. she can't be bothered so why should you? not make yourself a broom. you are not worth theresa may's time. don't give her yours. more, our guest host brian levitt. oppenheimer fund senior investment strategist. i'm not going to ask you where sterling is going. reversalsonth at risk . you can see the bearish sentiment increasing. ultimately is this about concerns that jeremy corbyn could come forward when we get the u.k. election next week? how likely is that from a political standpoint? >> it would be astonishing. it would be something that no one had seen co

as for individual companies on the move, we have ppg, akzonobel really spurned text -- takeover offerspurs -- offers. of a privatelyr owned german company for $5 billion to get into other types of equipment, not farm equipment but construction and road construction. bloomberg news reporting th linda approved, linda's supervisory board approved the takeover by crack there. some headlines confirmed that the you see the crack their shares getting trading once again. are had halted, now they spiking again because there was question whether this would go through. shares ours -- linde shares are going up. david: julie hyman with the market update. we have a date, fired fbi director james comey will testify next thursday june 8. more details. this is bloomberg. ♪ ♪ david: this is bloomberg markets , the trump economy. time to check first word news with mark crumpton. mark: as david mentioned a moment ago, it is official. james comey will testify before the senate intelligence committee on june 8. the senate said the former fbi director will appear in the open session in the morning followed b

ppg withdraws its bid after it won a court battle over akzon e akzo nobel. >> "squawk alley" will beht back now. at crowne plaza we know business travel isn't just business. there's this. 'a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. >>> good morning. here is your cnbc news update. president trump signing a six-month waiver to delay relocating the embassy from jerusalem to tel aviv. two people remain missing after an explosion after an explosion of a wisconsin corn mill rocked the area. it knocked out power to more than 100 homes. >> the supreme court sat down for a group photo opportunity. the nine justices, including the new member, neil gorsuch, were all smiles as they posted for the photographer. they will be back at work next monday. >> and the pittsburgh penguins took a commanding 2-0 lead in the stanley cup finals by beating the nashville predators 4-1. they took a 2-1 lead in the game by scoring just 10 seconds in period three. the next game is saturday night televised on the

let's get up and get go ppg >> this is "abc7 mornings." >>> it's monday june 12th. 5:29 on a day whenll take it. i swear to you i had a yellow tie picked out and is setting on my kitchen counter. >> when we wore yellow o friday, bad things happened. they only win when i have worn blue. we're getting very superstitious. >>> how about sunshine today. the winds, we will deal with them a little bit today and this afternoon. napa and clouds around half moon bay. and looking at the snow winding down in the sierra nevada. yes, middle of the june and the system finally pulling out. 48 in vallejo. and we will look for sunny skies, upper 50s to the upper 60s by noontime and then low 70s, so we're coming up at three or four degrees inland with the breezy northwest winds along the coast. >>> taking a live look at the bay bridge toll plaza, took longer than an average week day, but 5:28 the metering lights have been flipped on so things fill into the maze, not terrible. and westbound 580, tracy to dublin just under an hour. westbound 4, antioch to concord, 15 minutes, and san rafael to san francis

activist investor wanted the company to hold talks with tpg and the firm failed -- ppg failed to forceiring zoe act of chairman -- the ak chairman. battle of the charts. what have we got for you today? he may be one of the dutch biggest stars in american football. who can compete with tom brady? how about the chinese yuan. ♪ mark: battle of the charts where we take a look at some of the most telling charts of the day and what they mean for investors. you can always access these charts on the bloomberg by running the feature -- function featured at the bottom. christine -- christie -- to be talking about european soccer players and how they are learning a hard lesson on or in exchange. the financial times reports some soccer players want to get paid in euros instead of pound and that makes sense given the pound's decline. i look at the -- i took a look at one of the salaries of the highest-paid players. i found out that if he exchanged his 15 billion pound salary today for euros, he is going to get almost 2 million euros less than had he done it a year ago around the start of june. for

we are not throw away women ppg [applause] we hold potential, power, love, groundedness. you know, the future of our community. you know, and i just want to say we're back. and we're coming strong. [applause] and you're going to repair -- and we're going to lead and we're going to stand side by side. and make our community safe and whole again. we're going to put the band-aids on our kids knees. and we're going to stand in the gap when those people are coming and say no you can't have this one. and you know we're going to do this by the hundred, by the thousands, by the millions and we're building that now as we speak. so i want to call out a few people in the audience. i see vivian nixon back there in the back from college and community. she's educating all of the women. and i see counsel members over here -- yeah. so i want the counsel members to stand, donna, i don't know how many of y'all are out here but yen mail wept out -- so -- you know. these are the warrior women on the frontline, so you know it sounds like i'm going to do all of this. we're going to do this and

one of them that could be interesting, today is the forline day for ppg's bid akzonobel.have a couple of banks saying that trading was week this quarter. we will have your stocks to watch next. the open in 12 minutes. this is bloomberg. ♪ back to bloomberg markets, the european open. i am matt miller in london. the chinese pamir arrived in brussels today. he is expected to discuss trade investment and climate change. this as part of what could be a private from german chancellor angela merkel toward asia. what is the future for europe and the euro? services policy chief joins us where he is a speaker at the economic forum. i want to ask you about the german chancellor's comments on sunday. that europe has to decide its own destiny and maybe can no longer rely on the u.s. as the partner it that it has been since world war ii. how do you feel about europe's relationship with the u.s. under president trump? guest: as regards the eu-u.s. relations, we have a long-standing strategic partnership which is lasting for decades so i think this strategic partnership can also survive

some of what is going on has to do with deal activity or, in the case of ppg, lack thereof.ulled the offer and it will not try to process with this action. to date, the shares are up 15%. they first made the bid on march 8. they spiked and came back down. they had been climbing and came back down again as the parties were going back and forth. we got news from linda and craft and praxair. this will be the world's largest supplier of industrial gases. praxair your today, you can see the climate has had. shares, in german trading, they have been doing well as investors position ahead of this deal happening. isfor the x lb itself, it rising to a record close today. if you look at the underlying commodities, the materials that many of these companies produce, they haven't necessarily done as well. this looks at the components of the bloomberg commodity index. energy has underperformed. these companies don't directly make energy. in fact, it is going down. it is not necessarily a bad thing if you are making chemicals from petroleum, for example. agriculture in blue. it has fallen

elliott management wants the company to hold talks with ppg. firm failed in illegal attempt to fire the chairman. volkswagen may make more suvs at its factory in the u.s. that could be complicated by uncertainty over president trump and possible trade barriers. that's your bloomberg business flash. chinese manufacturing maybe contracting for the first time in a year. that's according to the index released overnight. it dropped to 49.6. gormanstanley ceo james tells bloomberg he still bullish on china. been stable. has consumption is increasing. overall gdp growth and liberalization of the capital market. ofid: here with drew mattis metlife. how fast is china slowing down? think that number is probably pretty good. it's slowing down very gradually. you're not going to see much more of that. you do have some imbalances in china. are veryort-term there few concerns or limited concerns. in the longer run there are going to have to be other transitions made like any economy does when they are moving from one driven by exports to one driven by domest