romaine: and i'm romaine bostick.bloomberg markets." let's check in with kailey leinz. kailey: the u.s. and mexico have a great to revamp that nafta. president trump has signed up on the deal that clears the way for canada to rejoin the talks. in the past several days, the u.s. and mexico made significant breakthroughs on key issues like energy and cars. authorities in jacksonville, florida senator government -- in jacksonville, florida, the shooter killed two people and wanted others before shooting himself. sayed nations investigators military leader should be prosecuted for genocide against muslims. the report challenges claims that has been responding to security challenges. hundreds of thousands have fled to bangladesh since the bloody crackdown began a year ago. and services for senator john mccain will be held in phoenix, washington, and annapolis, maryland. he died saturday of brain cancer. he will lie in state in both the u.s. and arizona capital. there will be a funeral service at the washington national cat

vonnie: romaine bostick, we less than four points away. want to point to your story which talks about caveats of the bull market. romaine: there are a lot of caveats and i am curious. it is one thing to celebrate this. i think we should. we understand this is a long run. if we are trying to keep this in the context of history, arts their previous bull market that are getting shortchanged here? >> yes, but let's go back to an earlier discussion. you have the president expressing concern about higher interest rates and there are some who are worried about whether the fed is going too far in hiking rates. yet financial markets are performing extremely well. if i have to look at, is monetary policy very tight as reflected in the shape of the yield curve or is it very easy as reflected in real interest rates, i look at financial markets and they are telling us monetary policy in the u.s. and globally is still accommodative. they are also telling us the competitive position of the u.s. through lower tax rates and lower regulations is extremely at

romaine bostick has all of the tricks down. co-anchor,g to my romaine bostick.: let's talk about dividend yields. we have been talking about the divergence between u.s. markets in global markets. one advantage european markets have is that they offer higher dividend yield. when you think about the s&p 500, you're talking about a 1.9% dividend yield. that is 100 basis points below are the 10 year treasuries are at. when you think about europe, you're talking about 3.5 percent dividend yield, 300 basis points above what you get on the benchmark 10 year treasuries. a lot of strategist talk about the importance of paying attention to dividend yields as we head into more volatility. it is not to say it europe is better but if you're chasing yields, europe is one place you want to look at. the prize byon getting to coanchor with me. romaine: that is prize in a. vonnie: the chart was good enough to win the battle of the charts. this is bloomberg. vonnie: live from new york, i'm vonnie quinn. romaine: i'm romaine bostick. this is bloomberg markets. vonnie: it is time fo

is romaine bostick. -- it is his first time in the u.s., romaine bostick. >> a lot of pessimism has seepede market. if you look at they drop we've seen since april, down a percent. take a look at the bottom of the chart because what -- what thisyou issuing you is the net shorts in gold futures. left, this is the interesting, this is the first time we have been short since january, 2016. the month before that was when the fed started that tightening. when we talk about why gold has not seen more of a bid given the trade issues around, a lot has to do with tightening. higher rates, stronger dollar, gold, zero yield cannot compete. reflectsre seeing not just the sentiment around gold but the sentiment around the rates and the dollar. vonnie: you are very convincing. his tone is sincere. kick it off. mark: do you remember the first time, it was a long time ago. we're going to talk about the yuan. it has fallen in eight consecutive weeks, the longest losing stretch on record, highlighted by this chart. we had tensions ratcheted up over the weekend. we had trump claiming the u.s. has the upper h

romaine: and i am romaine bostick. this is "bloomberg markets."y: it is time now for friday. >> it is overrun worth -- overrun with triple b credit. may be riskier than they appear. here to discuss this is james from bloomberg intelligence. talk to us about what is going on with investment grade debt and how that is affecting etf. james: if we take an example of i share --it is the largest, aum.liquid at 34 billion you are looking at historical allocations to bbb. in 2010 it was around 28% and now it's over 44%. it is knows apprise corporations are it to -- issuing a lot of debt. this is causing a lot of issuance of bbb. is this a bad thing? not necessarily. it is something investors should be aware of. taylor: it's all about the risk return profile. what are some of your options if you are getting nervous about the bbb sector? what are options to reduce your exposure to this. james: there is only really one option, this product avoids exposure to bbb. up 46% ofis bbb makes the investment grade bond universe and it is -- has accounted for over 50%

romain: i am romaine bostick.we are weeks away from -- -- or: we are >> we are looking at a bigger drawdown in survey. -- we are even closer to 2.6 million barrels. that is bullish for oil. investors in the survey had called for a small build. you can see the bullish reaction. oil had been up about .8%. now even higher at this point. a nice spike and it will be interesting to see whether or not that lasts. very quickly, if we take a look at the dollar chart, we have a two-day chart of the dollar. the first two days up in two weeks, we have oil stronger on that report. romaine: thank you. that is abigail doolittle. amazon at its prime. the tech time -- titan notched another high today along with the nasdaq. the company boosted its outlook for alphabet. not everyone is a bull. faang haveagainst risen. joining us with her -- the u.s. equity strategist. the first question i want to know is has the actual number of shorts we have seen in the tech sector and specifically the faan g, has it risen? gina: the dollar value

romaine: i am romaine bostick. vonnie: let's check in on bloomberg first word news. >> president trump is accusing google of rigging search results against them. in a tweet the president said only negative stories about him come up in a google search for it he called it a very serious -- search. he called it a very serious situation which will be addressed. larry kudlow says the white house is looking into the matter. north korea has warned the u.s. that denuclearization talks are at risk again and may follow far. that warning came in a letter to after he was scheduled for pyongyang on friday. pyongyang canceled the trip. that paul report manafort was hoping for a deal before the former trump campaign chairman's second trial next month. the wall street journal says his lawyer help talk with prosecutors but could not settle the charges. manafort was convicted of bank fraud last week. in the u.k., theresa may is signaling a no deal brexit is in the end of the world. she told reporters on a plane heading to africa tha

romaine: and i'm romaine bostick.nie: it is time for etf friday and that may julie hyman. julie: ukip assets tracking specific sectors, blackrock is trying to disrupt the space by taking the way companies are classified. here to tell us more is tom from bloomberg intelligence. let's take a step back here. what is the sector etf landscape look like and why is blackrock interested? >> they have had a lot of success in this area of the market. state street is the big leader. 40% of the assets are in etf products. vanguard is number two with 20% of the market share, and blackrock is last, so one of the issues is they have not done anything different. state street was first. they were the first mover and vanguard came in really cheap. blackrock is stuck in the middle and has not done anything different, but they are trying to shake up the space. julie: they are looking at sector classifications. in the case of state street, it mirrors the s&p's buried sectors, so how's blackrock trying to change that? gettingsomething is t

romaine: i am romaine bostick.nie: russia's lack of response to demands from deutsche bank for more information on customer records could lead to determination of clients after a deadline. it passed and russia never answered a letter. is jeffrey smith. put this in layman's terms, what happened and what are we waiting for? >> it appears that a form letter which deutsche bank sent to 20,000 clients also went to the russian government. worthwhileght it was to stop the letter or put it in different terms more becoming of a bank talking to a government. it landed in the white house and moscow said that unless you conform with our customer assignments, we will cut our relationship off with you. romaine: what do we know about the general process with the know your customer letters? is this an issue of deutsche bank failing to handle this or a broader issue about trying to comply with something that may be complex. is the sort of thing that happens, a large and unwieldy organization gets very stressed and starts to impleme

romaine: i am romaine bostick. taylor: time for the biggest stories in the news.hares of dick's sporting goods falling with slumping sales and ending sales of assault style rifle's in february. same-store sales down a worse than expected 1.9%. they say they are experiencing significant declines in under armour products, under armour shares also trading lower. the trade war has hurt jack say they assumed eu tariffs imposed in june will stay in place the rest of the year. put on auties were number of american products in retaliation for president trump's tariffs on european goods. parent haveoogle's a new number one fan on wall street, morgan stanley has jumped up price targets for amazon by 35% and target or alphabet at 14%. now higher than any of the other analysts surveyed by bloomberg. morgan stanley sees amazon's cloud service as good. that is your bloomberg business flash. british and eu negotiators are saying the brexit deal may not be ready by october. senior officials tell us by mid-november is more realistic. let's bring in our u.k. politics reporter in lo

romaine bostick and marcus ashworth, thanks to you both. let's check in on the bloomberg first word news. here is kailey leinz. kailey: the u.s. in china will resume their negotiations on trade. a representative to the u.s. for talks later this month. the chinese will meet with undersecretary david malpass. the president backed away from a deal in may. president trump believes his tariffs on imported steel will rescue the industry. the president told the wall street journal that people may complain steel prices are more expensive but they will eventually fall. he said the tariffs protect an industry that is essential to national security. the islamican, state as claimed responsibility for an attack that killed 34 students. it targeted a shiite muslim neighborhood. students were studying for an executive exam. has diedetha franklin in detroit after a career that lasted decades. she suffered from advanced pancreatic cancer. she was 76. mark: live from london, i'm mark barton. julie: and from new york i'm julie hyman. markets."loomberg walmart

romaine: i am romaine bostick.co has agreed to buy soda stream for $3.2 billion in cash, 100 $44 per share. 11% premium to friday classes closing price. it is looking to tap into the housing prices. any downsides to this deal? >> good morning. i think the risks to investors here is an execution a one because while pepsico has been anditating toward wellness healthy beverages for quite some time, this is their first foray into the at home consumer through soda stream, which makes the beverage makers and also what goes in them. >> talk to me about what makes this healthier for pepsi because it is not really clear to me how this expands that effort. >> fed is a great question. think many investors will wonder how it will fit in. as pepsico'ss beverage portfolio. i do not see many manufacturing synergies and things i that. is pepsico's way to see where the trend is going, health and wellness, water-based beverages, but also, at home. the at home consumer is gravitating towards these because they see it as an economical

romaine: i am romaine bostick.eers of deer higher after they posted disappointing earnings. the tone turned positive on the analyst call when the cfo said the cash receipts point to higher sales. joining us with more is taylor riggs. you see the stock soaring after the analyst call. >> it started lower because of concerns of cost pressures they are facing that over time analysts digested the news and it went higher. originally, disappointing because they did not raise full-year guidance and missed their current earnings. there is a global demand for machinery. after what has been a multiyear downturn in crop prices, tractors are starting to be replaced. next sales showing the third quarter year-over-year sales were up 36%, $9 billion for the machinery. people are starting to replace machines. terminal,e into my talking about what analysts were fearing, those margins. have said a lot about raw fuel costs and raw material costs like steel and rising freight costs. what everyone in the industry is facing right now. we

romaine bostick has been listening in and joins us with the latest. t the headlines on not talking about the harassment. romaine: this is overshadowing the call and les moonves is speaking on the call and sticking to the numbers. the vice president in charge of investor relations says right at the beginning of the call they would not be speaking at all about any of the allegations. he did not even mentions the allegations in any detail. basically saying on the advice of counsel, they would be sticking to the quarterly results. so far, that is all we hear from the company. joe: we're not done to the q&a, right? romaine: none yet. they're running through the numbers. we will hopefully steer questions directed toward the allegations once it starts. they don't plan to discuss it. scarlet: another cloud hanging over the company is a merger with viacom. has anyone made reference to that on the earnings call so far? romaine: so far, the executives have not made reference to it. for the press release, there was also no reference there either. some of the big o

selina: that was bloomberg's romaine bostick and mark gurman.oming up, tencent has suffered its first profit drop in over a decade as the chinese government cracks down on new game releases. can the tech giant recover? and later, how an nba champion wants to build a winning team for his tech investment. we hear from golden state warriors superstar andre iguodala. this is bloomberg. ♪ selina: amazon has decided to aggressively broaden the programming on twitch to take on its video rival youtube, in a bid to grab a larger slice of the online advertising pie. amazon is pursuing exclusive live streaming deals with dozens of popular media companies and personalities. twitch is offering minimum guarantees of as much as a few million a year, as well as a share of future advertising sales and subscription revenue. it looks like facebook has company when it comes to disappointing tech earnings. this time the results were out of china, where tencent posted its first drop in at least a decade. shares plunged in reaction to the news. the chinese social medi

romaine: i am romaine bostick.s is the european close. vonnie: jay powell is delivering a highly anticipated speech at jackson hole today. let's bring in u.s. rate strategist, ira jersey. no reaction in the treasury market, but the dollar moved. why? ira: some people thought jay powell might be more hawkish and when he wasn't, the markets had to reprice. 10 year yields did not move much but what did move was the front and d of the yield curve where there is a tatian the fed will hike two or three more times -- indication the fed will hike two or three more times. ,ay powell was more balanced than others who said 3% is the neutral rate. can't --d not hit -- hint about that. vonnie: we had an equity talk -- -- he was not overly optimistic. ira: you did not get the hawkishness some people anticipated. one thing that was very interesting in his comments, which is not dissimilar to what chair yellen and bernanke did, is give historical context. he did things like what is the natural rate of unemployment and how has that

romaine bostick joins us now from new york with more. us about this note from morgan stanley. >> he is making a very bullish call. frankly, he is not really alone on this. quite a few analysts on wall street have taken a much more bullish view, if that's even possible, of a lot of these big tech names. a lot of it really has to do with their market dominance and what a lot of these analysts perceive as their continued dominance, when they look at names like amazon, alphabet. a lot of what they are looking at is what type of competition do these companies really have now, what type of competition are they really going to have a couple years down the road. and they are also looking at the general market picture, the idea that there are still a lot of consumers that haven't really embraced these particular companies or these particular platforms and that, once those consumers become a little more integrated into those products and services, that will benefit these companies even more. emily: amazon shares have doubled over the last 12 month

romaine bostick and mark gurman, thank you much. bloomberg is hosting the second annual players technology summit. we will speak to jail and brown of the boston celtics making big moves on and off the court. if you like bloomberg news, check us out on the radio, listen on the bloomberg app, and in the u.s., on sirius xm. this is bloomberg. ♪ emily: the second annual players tech summit is underway. it is a gathering of world-class athlete, entrepreneurs, taking place right here in san francisco. guest joined the nba, he quickly made an impression on and off the court. jalen brunson is with us here now. 21 years old, you have obviously made an impression in the basketball world itself, but you also interned at a venture capital fund, hosted a tech summit, what are your goals off of the court? jalen: that is a long-winded type of question. rolodex andilding a finding the right resources to put myself in a position to be more successful than i was last year and the year before that. emily: what have you actually done so far? i know you

fors head to romain bostick -- romaine bostick for the stock of the hour.ecord high after first-quarter results that beat estimates. moving in the s&p doesn't really tell the story when you are talking about earnings. the underlying issue is the company has always been known for heart valves and some pain medication devices. ont investors really focused in the most recent quarter was one of their smallest units, diabetes, which grew about 26% because of a new device they had that basically acts like an artificial pancreas. there is a lot to feel optimism that this product is sort of up and running and gaining sales, this will be the future of the company. >> it took a long time to get to market. >> yes. it was approved in 2016 and they were not actually ready to really bump these out. it took about two years dealing with supply issues and get insurers to cover the cost. they finally have seemed to work that out this year. 26% is why you see the stock rise today. >> $98. >> the price targeted not really nudge up to 95 a couple of weeks ago. even though most

thank you so much, romaine bostick and peggy collins.ou see president erdogan .peaking in ankara in turkey he says those spreading speculation will pay and the u.s. will pay for the economic war they are waging. not taking a lot of responsibility. david: my favorite one is measures will be taken against economic terror personalities online. he has put the two together with economic terrorism with speculators. alix: he will tweet on it and go crazy with that. the tariffs wel just spoke about on gtb go. coming up, more on the turkish tour more oil -- on the turkish turmoil. this is bloomberg. ♪ emma: shares are following in the premarket. the agrochemical company monsanto was hit with $289 firstn of damages in the trial that claimed weedkiller roundup causes cancer. monsanto will appeal of the verdict and says the decision was at on's with the evidence. -- the rest of the company will and include in footwear brands such as north face in timberland. sales of genes slowed in recent years. -- thes a report that wall street journal says elliot

bloomberg's romaine bostick joins us and mike wilson of morgan stanley. through earnings season. >> almost done. about 450 of the s&p 500 companies have reported. rates,k about the beat near historic highs. revenue beats are also strong. gross margins in aggregate have come down slightly from the previous couple of quarters, and some analysts say this is a sign we could see maybe more disappointing results going forward. inputof this is side to costs, rising cost of fuel, rising cost of steel, aluminum, things like that. alix: let's look at that inside bloomberg. operating margin for s&p is the white line, and the blue line is the s&p. ate wilson, how do you look margins, and will it be the driver of s&p prices? we felt like earnings would be strong this year. that was not a surprise. we think the market is smart enough to know to buy things are going on. number one, this is a one-time taxpayers. second, all of the boost is happening below the line. below the equity line. companies are spending excess cash flows on, labor, maybe price competition. that wi

romaine: i am romaine bostick and this is the european close on "bloomberg markets ." here are the top stories we are covering. president trump is expected to speak about trade. we will bring that to you. u.s. and mexico have said to have reached a bilateral trade deal. u.s. stocks are reaching an all-time high. london is close. global equity rally is what we're seeing today. investors are optimistic about that trade deal, among other reasons. the budgetto veto after feeling shunned. we look at what it means. 90 minutes into the u.s. trading session. let's get to abigail doolittle. abigail: it is a risk on session. the bulls are out. we have solid gains for the dow, s&p 500, and the nasdaq. a bullish tailwind last friday from fed powell's comments last friday. they feel confident the fed will be raising rates but in a gradual way. investors liking that. the nasdaq on pace for its best two days since july. the weak dollar, take a look. seven out of the last eight days. similar to 2010, 2011, 2012 when a week dollar fueled stocks higher. we have a similar dynamic here bu

romaine: i am romaine bostick and this is the european close on bloomberg markets.e are the top stories we are covering, stocks are mixed as trade tensions on markets as the u.s. and china hitting each other with fresh tariffs. president trump ways into south africa's racially charged debate about land reform. the south african government calling for a meeting with the u.s. ambassador. tesla exposes challenges facing the sec, how tech titans exploit an understaffed agency. that and lots more. watching u.s.tle and global markets. abigail: mixed markets for major averages with the dow

romaine: i am romaine bostick.onnie: today's meeting comes as a looming october deadline approaches. outlining the future relationship between britain and the eu. we are joined by david. what could possibly trump today, do either of these people have any power to actually decide on anything? >> we're not expecting a huge breakthrough from the talks. the secretary has been in brussels and will stand up and speak in the next hour or so. no huge headlines. these two have not been working together very long. the chief eu negotiator previously throughout the process have been talking to david, who resigned just a few weeks ago over the government's position. new to the game, what is the chemistry between them? it will be interesting to see. continuings are really into areas. still he big sticking point. the framework of the future relationship, britain had set out its position. can they come to a wording that compromises enough to get the withdrawal sign? mentioned isas you october. that is self-imposed. they could spil

david: romaine bostick, thank you so much.or the balance of power newsletter or to getrg.com/politics the latest on global politics in your inbox every single day. today, the ceop of research affiliates will join us a talk about why he thinks turkey's financial crisis has created an em buying opportunity. this is bloomberg. ♪ david: -- >> from new york city, i am jonathan ferro. this is bloomberg real yield. ♪ >> coming up, u.s. in the face of fragility. wrapping up a messy week for emerging markets gripped by bearish sentiments, and the looking ahead to chair jay powell speaking. the u.s. decoupling from the rest of the world. is enjoying exceptionally stronger growth. >>

emily: romaine bostick, i know you will be keeping an eye on it all, and jmp securities ron josey, thank you for being with us. japan offering for the domestic wireless business that could become the biggest ipo ever. softbank is talking about selling a third of softbank mobile in its offering, or about $30 billion worth. alibaba made its debut in 2014 with a $25 billion ipo. that is the biggest public offering ever so far. and epf forould cryptocurrency help the price of bitcoin? management company is optimistic that its bid could be the first one approved by the sec. we will talk to the ceo about why, next. and if you like bloomberg news, check us out on the radio, listen on the bloomberg radio app, and on sirius xm. this is bloomberg. ♪ emily: bitcoin fell below $7,000 to its lowest level in three weeks. this, the back of last month's rally, which drove up the price by almost a third. that exuberance has been dampened by regulatory and other concerns. meantime, the competition to launch a regulated etf for continues, and one firm is optimistic its bid could be the first to be approved

romaine bostick, thank you as always., didi is having a "delete didi" moment after allegedly murders and sexual assaults by drivers. we will discuss next. this is bloomberg. ♪ emily: china's most popular ride-hailing app in damage control as thousands of users pledge to delete it after a second woman was murdered, allegedly by a driver while using its carpooling service. steve engle has more from hong kong. steve: didi chuxing is taking fire from many fronts. web users, regulators and state media in china, after a female passenger was allegedly murdered while using the didi carpooling service hitch, despite a complaint about the driver froma earlier passenger. this is the second death in three months, after a flight attendant was allegedly murdered in may. thousands of outraged users say they will delete the app, including a popular actors who posted on social media in china to her 9 million followers that she deleted the didi app. the host received 285,000 likes, and more than 40,000 comments. the push in china to get ri

romaine bostick from bloomberg, and daniel flax, you are sticking with us. the global smartphone slow down is hitting samsung's results. they posted a net income of $920 billion short of analyst estimates in the second quarter. they are facing increased competitiveness from chinese rivals. the same for its display business from cheaper rivals. chip business remained resilient despite a chinese investigation of collusionons with chipmakers. three companies control 90% of the world's chip market. coming up, can washington, d.c. and beijing get trade talks back on track before a full-blown trade war? and, how it all impacts companies like apple. we will discuss that, next. facebook identifies an ongoing effort to meddle in the u.s. midterm elections happening now. details on the "coordinated efforts" ahead. this is bloomberg. ♪ emily: with the u.s. midterm elections months away, facebook confirmed what many have suspected. they have identified an ongoing effort to influence the elections. we have details about the investigation. >> we will begin important peopl

thanks to romaine bostick. caroline: quite fascinating.e will be sticking with tech because square is turning around. shares trading at a five-month high after falling and post market trading. the company's full-year forecast phil short of expectations but the bar was high. shares nearly doubled this year, putting pressure on the company to outperform. emily chang is in san francisco with more. emily: thanks. square cfo sarah frier joining me now -- sarah friar joining me now. market shares are back up and you reported strong revenue momentum but a weaker than expected forecast, which is rare for square. how should we make sense for this? great quarter, 60% topline growth, we are impressed by that. it is speaking to the strategy of investing to grow, so think the right balance is with the opportunity in front of us, we want to put money back into the business, so we did eat on the top line with that 60% growth. on the bottom line, we want to invest with financial discipline, so we maintained our guidance for the year. that stayed the same.

romain: and i'm romaine bostick . welcome to "bloomberg markets." vonnie: markets are reacting to u.s. political turmoil. will speak with the author of "impeachment: a citizen's guide. late" later on, lanny davis joins us. and we are set up for the fedex cup in new jersey. first abigail doolittle with breaking economic data. abigail: looking at existing home sales for the month of july. the survey called for 5.4 million existing homes to have been sold, but instead 5.3 4 million homes were sold. the growth is down 7/10 of a percent. we get a little bit of a miss and we have seen weakness for the housing market more recently. not a lot of major influences in the major averages. we still have small declines following today's rally that brought an all-time high for the s&p 500 for the first since january. with the political turmoil around president trump, not a big reaction. we are tied for the longest bull market. let's compare it to the last bull market in terms of length and strength. at we are looking at is version and blue of the bull market from

romaine: and i'm romaine bostick.rude oiled cracked $70 a barrel mark for the first time since july before dipping below that level. talk about crude, as well as the dollar, joining us is the president of blue line futures. right now, we're just below $70 for a barrel of w.t.i., but it's going back up there, you say. bill: yes. there is some resistance. the trend line on the october contract is 70.35, just above there. i think crude oil is going to $80. and ultimately you see these gyrations back and forth, maybe 5%, 3% to 5%. you got to back away, look at crude oil going from the low in 2016, this thing is up. the trend is very strong. and then if you look at a weekly chart, it's even better. and you get that move last week, this is very bullish. i think we're going to be well above $70 soon. as we go into the fall, closer to the winter, there's going to be a lot more bullish catalysts with demand, iran, sanctions hitting their peak there when they come into play in november. a lot of this can really start to push cr

romaine: and i'm romaine bostick in for joe weisenthal. we begin with our markets minutes. u.s.cks end on a down note with the dow off by 196 points. the s&p losing 7/10 of 1%. europe andoming from emerging markets, turkey namely. romaine: that really saps the life out of the market this morning. and, for the week. at -- we take a look at couple of the individual movers. one of the biggest gainers in the s&p 500 got a little help from institutional shareholder services pushing back a little on icon. walmart is the biggest mover in the dow. the trading volume was huge. trade here, a stock -- trade desk, a stock that we don't look at the mosque -- look at much. dropbox their suffering a little bit after the coo departed about after four years with the company. let me take a look at the bond picture with equities little lower. is off aboutyield four basis points. the 10 year yield is lower by five basis points. take a look at that. remember earlier this week when we called for the tenure to be at 5%? the memory seems to be fading. that's as the 30 year yield is down for basis point

joe: and i'm remain -- romaine: and i'm romaine bostick in for joe weisenthal. scarlet: let's begin with market minutes. we took a late dip for the final 15 minutes of the session. it's not like the indexes were moving to begin with a whole lot. they moved definitively into the red. the nasdaq with a time being does look to secure its eight straight day of gains which is the longest winning streak since october. dow lost about 74 points and the s&p 500 is losing 1/10 of 1%. minutes ofthe final trading, it was energy, industrials, and financials. romaine: romaine: let's look at the small caps -- romaine: let's look at the small caps. we want to look at some of the individual stocks. centurylink was the biggest gainer today in the s&p 500. a lot of optimism off of the earnings. we have has like giving back about 5% from that buyout. there's a lot of euphoria fading there. then, roku. it is showing it can go toe to toe with apple and google's of the world. then, yelp is having a monster day. best percentage gain for the stock since 2012. they made a big able by goi

romaine: i'm romaine bostick and for joe weisenthal. to the closing bell coverage from 4 p.m. to 5 p.m. eastern if you are on twitter. taking a look at the market minutes, some of the assets we are watching here, we have the dow down 2/10 of 1%. the s&p is all the way unchanged almost. it moved to one hundredths of an inch. nasdaq is holding onto gains of six 100's of a percent. all major averages are not moving much. we're taking a look across assets, the 10 year yield is not moving much as well. 2.97%. the dollar is also little changed. prices, is that right for oil prices? scarlet: no. oil fell by quite a bit. julie: if you look at the bloomberg, it is down 3.4%. i don't know a few guys want to take my bloomberg year. oil prices are taking a tumble after we had earlier inventory reports. that is having an effect on oil prices and that is coming out right around here on the session. a catalyst for the decline there. we have breaking news right now. scarlet: pretty sick century fox coming out with its fiscal fourth quarter. adjusted earnings for sure -- per share is better th

thank you, romaine bostick and michael kelly.nooyi stepping down as ceo of pepsico. this is bloomberg. ♪ emma: this is "bloomberg daybreak." i am in the hewlett-packard enterprise green room. misra, td, priya securities head of global rates strategy. now to your bloomberg business flash. regulators could kill a $40 billion deal. linde and praxair to sell more assets before it approves the deal. iwg plunged in london. it decides it did not want to be sold at the price private equity firms are willing to pay. quarterly profits soared at telecoms the japanese provider. it was boosted by big earnings at its vision fund. it also sold the china unit of its subsidiary. is stepping nooyi down as ceo of pepsico, we learned today. she will leave in october. she will be succeeded by one of her top lieutenants, ramon laguarta. joining us is bloomberg intelligence's reporter. give us a sense of where this company stands today and what her successor will be inheriting. >> good morning. today's news, while not a total like an, timmy looks order

romaine bostick is here in the details. yes but we opened this morning on an all-time high.ot of enthusiasm and i want to show you why. a company that was very popular in the retail sector for a while and it fell off the map for a little bit but the last recorded, it has done get busters. quarter, upent about 13% for its anthropology brand up about 17%. optimism.rowth and what happened as the day went on, shares started to sell up a little bit. 36% this year prior to today but about 152% from last year. this week from last august. it was on a good run. they little profit taking which tends to be the norm for earnings day. it tends to sell into earnings and then it gives us the breath a couple of days later. joe: what are they do because a couple of years ago, the view was that they are totally out of step. early 2016, he revamped inventory controls and expanded overseas, remodeled a lot stored -- a lot of stores and put a lot of emphasis on anthropology, a higher-priced were -- with they the discounting in the markdown, that really help to boost same-store sales growth quart

welcome now romaine bostick. i will start with a chart i have in my terminal.number of beats. that depends on what they got it to come which is fair but even then they are doing pretty well. had 420 companies report so hard -- report so far. between of the gap analyst expectations and the company's report, the last emily are closer this was out of the recession and we have favorable comparables. there is a lot of skepticism in these numbers but i will point out revenue beads as been at and historically low number as well. it is near the top of the peak of where we have seen. there is some substance behind this. it is not all just accounting magic. julie: you see this during earnings season. stocks moving up and down. the s&p since earnings season began is up 2% which i am surprised about. i thought we were more flat. >> earnings season has been good. there was some great day to put out at bloomberg intelligence, she was showing how the one day stock price move for these stocks after earnings, it was pretty strong. one and a half to 2% moving averages and for co

thanks so much, remain b -- romaine bostick. coming up, the biggest ball on the street.hy this run is not ending anytime soon. ♪ jonathan: from new york city, 30 minutes until the start of trade. this is countdown to the open. ♪ jonathan: a bad day for a few the president's men, casting the smallest of shadows near market new all-time high. it is called the most hated bull market ever. looking ahead to the release of federal reserve minutes. the warm-up before jackson home. 30 minutes away from the opening bell. futures -5%. in the fx market a stronger euro. 2.82.ries stable at president trump former lawyer michael: pleading guilty of campaign-finance challenges and his former campaign chairman paul manafort convicted on eight counts of tax and bank fraud. the news leading investors unfazed as stocks covered your record highs. >> this may be bad but let's not overstate the news. >>

complained about jerome powell asked -- let's bring in romaine bostick of bloomberg.mplaining to republican donors that he did not get what he bargained for. what is going on? -- you have fed policy pushing the dollar in the opposite direction than what he wants us to go. he hinted at the satisfaction or high interest rates before and the market sort of weather the storm. it is really about what type of that phone powell has and whether the fed sticks to the script. >> you wonder if -- whether he word outush to get the to the fed or jay powell says hey, let's look down on the rate increases and keep it going. i for when you look at the market reaction we had come we saw the dollar weakened, a few minutes ago, touching the low of the day, a little weakness in treasury yield as well. you have a market -- i should point out the market has been undercutting below what the fed has telegraphed. the market is basically looking hike quarter-point rate will and next year, the fed is telegraphing three. what the market expects and what trump wants. >> it is very interesting. di

but gets more insight into turkey's economic crisis, joined by vince cigna relevant and romaine bostickhis a risky situation for forty markets? romaine: u.s. equity markets, probably not. where you are seeing the pain and equities is european supporters -- uruguayan -- european sectors. you're talking about european banks and european telecom companies. what you get beyond those industries, there's not a lot. you have a few chipmakers that have sort of broader exposure to the em space and there is certainly some concern there but want to get beyond that, the exposure to seem to be pretty small. julie: i want to ask you, there has been his attention on erdogan and an unwillingness to support the lira by raising rates. how long can he hold out on the currency is doing what it's doing now? vince: he seems to draw a line in the sand and i would suggest some form of capital controls will come next before you to raise interest rates. he hasf the belief that tied this evaluation if you will and compared it to the two -- p, and the raising interest rates would just make the poor poorer i think