now you're complaining for stanley's law. sta nley‘s complaining for stanley's law.t because not many people understand the laws surrounding air rifles, that you need a licence for a rifle that is below 12 pounds. he will do not know where you should keep them but i want to have the law the same as in scotland that it is an offence to obtain and use an air rifle without a proper certificate. and your grandad did not have a licence. it also modified it so the gun had become more powerful and he would not have got a licence had explained to someone that it had been modified. so the same licensing law effectively are scotland and northern ireland. best wishes for that campaign. thank you so much for coming on the programme and talking to us. a government minister is meeting manufacturers and vendors of e—scooters today, asking them to be clear about their legal status when they sell them. it is currently illegal to ride scooters on pavements and on roads, but the government is considering whether they could be used safely in public. on friday, emily hartridge — a tv pre

so start with morgan stanley buying the july 26 calls, 26 expiring calls, the 45 strike in morgan stanleyhat is just out of the money from where the stock was trading before these hit 3,000 of those were bought, they paid about 75 cents. and i think that they are just looking for the entire cycle -- we talked about the anticipation of earnings. and you just wonder where that level is of optimism right now and maybe the banks can actually beat something or impress people enough that they can still continue to make a move to the up side. so these 45 calls are pretty interesting. 3,000 of those were bought here is the next interesting thing. jpmorgan, they bought 3,000 calls there. they went to the july 26 expiring calls as well but they went to the 1116 there. trading 114. they paid about a dollar for these calls. so 3,000 here, 3,000 there, both of these two financials, morgan stanley on the 18th, jpmorgan on the 16th, so clearly earnings are in the target of where they are looking. a i like what we're seeing here. i heard a bit of the guys were having sounds like they are getting more bul

alix: if you are a morgan stanley -- david: if you are a morgan stanley shareholder, what do care about we've seen some likeness in trading, but which do you care about, growth management or equities trading? about thecare more growth management. things were probably we getting for the equities trading business exiting the quarter, and maybe analyst estimates didn't catch up that much. i will be focused on the opportunity from a competitive standpoint where they've really gained the most chair across trading over the past few years, with deutsche bank now seeing their pullback. that seems like an opportunity longer-term, and i think that is more important for business. alix: wrap altogether for us. we have all the big six banks out. what is your big take away so far? alison: muted trading environment. estimates probably coming down out of this quarter, just because trading, we got a little bit of excitement at the end of the quarter, but that -- thately s immediately sated. the revenue environment has weakened. it comes down to cost. we haven't seen the cost numbers yet for morgan stanl

making a big difference in the lives of the children and their parents stanley is driven by a hope. with special care and therapy he thinks at least some of these children will one day enjoy a degree of independence. from sports now a turn to florence comes to a close this weekend but before we crown this year's champion and say to look back at the tours oldest living winner 91 year old fake obama on this back in $1059.00 the eagle of toledo also became the 1st spaniard to ever win cycling's most prestigious prize are tired now so more than 50 years he's still in love with this force but not so much with modern cyclists. federico martinez this saw many hardships early in life during and after the spanish civil war his major concern was finding food in staying alive before becoming a professional writer he honed his cycling skills while delivering bread for black market traders and fleeing the police those skills led him to racing and eventually the spanish cycling federation picked him for its tour de france team in 1959 by this won it all. but when i won the tour for all the spania

stanley okie news days starts early as he sets off to take his daughter to school. happy bosy bori had meningitis when she was 3 since then she has been unable to move or talk. stanley literally specialized center they could offer his daughter the therapy she needed and he soon realized how difficult it is for disabled children and their parents in kibera to access proper care so he decided to help every day he collects kids from their homes and drives them to school. some of these children hit each other some hit the windows another hit some sort of . i want to about what's happening so i'm forced to pull over so i can control them before i can continue. 40 families rely on the transport he provides without a kidney most parents would be forced to carry their children on their backs. i used to get her on my back to school. and then. ensure she was good for me. i even decided to leave her at home. but certainly. good to any. here at the mary rice center the children are able to socialise with each other and get the attention they need. this school specializes in hel

and get the message stanley anetta was recording new songs audiences love his music and he gets a lot of radio and t.v. ads maybe one day people will just listen we'll take action to. the around cape town and south africa activists have already taken action and the last few decades the low lying cape flats have been taken over by widespread urbanization and the encroachments of bushland now herbivore is helping restore biodiversity to the area that he learned and has a taste for the invasive products species that are endangering the floor of the remaining low lands a project is reset playing the creatures in the area where they once lived 200 years ago let's take a look. at the scene cherries and. area around cape town. tontine in a binding station have caused the habitat to shrink drama. some plant species started. out a unique scrubby vegetation. june's trend failed then the team came up with that idea to restore bio diversity in this area the project to bring back. here to. the open and just to break up the wood component to give. the thought for 2 years they've been browsing away

margen stanley getting bearish on global stocks, downgrading them to underweight, saying despite the fact o policy, they haven't enacted easier funds, and blackrock's economic outlook has worsened for the second half. let's brin in brian with bmo capital markets, and brent schuette, chief investment strategist with wealth management company welcome. brian, you take each of these three points we began with morgan stanley, investors leaving active funds, and blackrock becoming more negative, and you pluck them off and shoot them dead right on the spot why are they insignificant worries to you >> of course, i do, tyler. good afternoon, everyone let's call a spade a spade blackrock is a fixed income shop of course, they're negative. with respect to active management, we have known that active managers have had a hard time performing. they got in this rally very late they have been underperforming in the majority of portfolio managers have less than ten years experience, and they have been more busy the last five or ten years managing redemptions versus managing portfolios and more succin

tom: stephen stanley, thank you so much.e meeting conference of alwaysnd company, important, various sundry media types showing up in search of scale. we will have that today and some more important conversations on media and scale. chairman powell this morning at 10:00 a.m. this is bloomberg. ♪ wanna take your xfi to the next level? now you can with xfi advantage. giving you enhanced performance and protection. when devices are connected to your home's wifi, they're protected. helping keep outsiders from getting inside. and if someone tries, we'll let you know. so you can stream, surf and game all you want, with confidence you can get coverage where you need it most. that's xfi advantage. make your xfi even better. upgrade today. call, click or visit a store. ♪ once upon a time, it was humphrey hawkins and now it is just the testimony. the q and a always different with the house and senate. korea, thed south president morning there will be an extended battle with japan over export controls on vital materials. moon accusing

our stock of the hour is morgan stanley.et's biggest trader saw the largest drop this quarter. taylor tate -- taylor riggs is here look at the reasons why. taylor: all of the analysts calls interesting. morgan stanley is the biggest equity shock. the fact that they had a bigger iss was acted m little bit concerning. if we look at all the banks, goldman sachs is the second-biggest equity trading job and they had a better-than-expected gain. there was a fight between number one and number two. on the yost call, james gorman -- on the analyst paul, james gorman said we've been posting quarters,r multiple we expect to maintain market share. trying to reassure analysts that the equity shock and turnaround. we also have a big wealth management business that posted better-than-expected. there are some bright spots. the bottom line here, upon intended, remains healthy. they continue to post record profits across the board for all of these banks. we know there have been concerns about the equity trading business, but the consumer rem

because morgan stanley is not as the source of pride -- as diversified, morgan stanley took this prettyl street's trading divisions have the worst first half in the decade, so quite were results so bad? >> it is a combination of things. if we want to use a sports metaphor, clients are all on the sidelines. we have an uncertain macroenvironment. we don't know for sure if the fed will cut rates. we have a global trade war, worsening conditions on the macro fund for global growth, so a lot of clients have not decided how to reposition for this outlook. they have stayed on the sidelines. that has had a pressurizing effect on all banks and their trading divisions. shery ahn: let's look at the rest of the year. we are now expecting fed rate cuts. how does this impact the outlook for banks? >> it is all about the fed now. things were asked repeatedly on calls this week what it will mean for profits. when the fed cuts rates, that will pinch margins because they won't be able to charge as much for their customers. banks have been talking about the potential impact on revenue all week. it remains

his a single you really need to listen to mine to an artist stanley and then to has written songs and poems to encourage more people to look after the environment. his sons focus on water and drought the felling of trees and police and the loss of africa's animal population. climate change. and vironment protection. you know all those things are into things well celebrity here because the average person in this part of the ward it's more interested in some viable. the f. and animals catch with a reflective pen when it comes to environmental protection stanley sets an example his way. instead of brushes he uses different colored light bulbs. lights out and the magic begins. its transition from green and healthy to the alarming state that it's in today captured through the lens of a camera. usually a painting done with oil or acrylic on canvas to take a couple of hours to a few days depending on the size and they'll be considerable waste this is done in just a few minutes and there's no waste. when you use things like or you can't just expose it to either end of the data or end up in th

." >> morgan stanley is downgrading global equities as powell gets tough for questions from congress >>> plus, a day of several big downgrades, apple, verizon and the regional banks and a sudden pickup for retail "the halftime report" with scott wapner begins right now. >> welcome, good to have you with you on a monday joe terranova, we have the chief investment officer and adam parker, ceo, and we begin be the markets. the stocks under pressure this hour follow through perhaps from worries that the strong jobs report may keep the fed from keeping interest rates as much as some hoped. throw in some big-named downgrades and big picture, joe, okay, we said morgan stanley, okay, they have been negative no big shock right? mike wilson sat on this desk and you have got his view. now they say they're putting their money where they their mouth is lowest level in five years big reason lower returns. al plain and simple. right call or not? >> i disagree with the call. disagree with the call because i'm not certain -- first of all, morgan stanley as a wealth management company, i'm surprised t

morgan stanley has turned bearish.location to the lowest in five years. it is the outlook for stocks looks particularly poor. in a new note, morgan stanley says the profit forecast remains too optimistic. and that is the bloomberg business flash. tom, francine? newcine: greece's center-right democracy leader is set to take over as prime minister. we saw him being appointed moments ago in a ceremony that follows. handed him election a mandate to tackle the nation's chronic troubles. take a listen to the prime minister elect. >> i feel like i have a strong mandate to deliver on my agenda, which is an agenda to grow the economy and create more jobs. but also to make sure that people feel safe again. francine: our guest joins us. it wasu look at greece, a surprise just a couple of years ago and now the darling of the stock market. and will he do better things for the economy? >> the listen to be learned here is that politically, we have moved on after four years of tsipras. politically, the new leader is well positioned. h

. >> absolutely let's stick with earnings for a second morgan stanley reports today how is business athe bank in your view? >> well i think morgan stanley is a little bit interesting when you look at bank earnings like bank of america as we saw yesterday. and jpmorgan, where they're really heavily bolstered by consumer unit you "don't ask, don't don't have that with morgan stanley but much of the topline is imangted by trading revenue and corporate actions, and that's we've seen that's been a challenge for these banks that could be -- >> a bright spot for morgan stanley we'll see and finally microsoft who knew they're tiebl hold a one trillion e evaluation what do you expect to hear tonight from microsoft? i think microsoft is pretty good and market -- is not expecting a lot if you look at volatility they're expecting what a 3.5% move but microsoft will be pretty good they haven't disappointed yet. banking on helicoptered growth in the cloud. jason thank you for joining us. >> thanks for having me. >> well coming up more troops are headed to the border and dhs chief shedding back to ho

at morgan stanley we are looking for two.f the fed cuts rates, consumers will be more encouraged to buy. companies will have more firepower to continue the cycle. won't that be net good for the banks? betsy: that's a question we get from a lot of people. if we were earlier in the cycle, maybe i would bring down my expectations for provisions a little bit more, but we are 10 say, we, and like folks are late cycle. is it one more year, five more years? don't know, but there is less room for me to cut provisions this late in the cycle. companies have increased their leverage. consumers have increased their leverage. at some point, we are going to get a cycle. david: we talk a little earlier about the fact that what the fed does it seems a little less effective than it used to be. will that two cuts, affect things like loan origination? will people be asking for loans? frances: it is really just a shock absorber as opposed to a cycle changer. right now we are not looking for a recession in 2020, but we are looking at a sizable sl

and head of that group welcome back what have you all done at morgan stanley?ou have like a kind of -- this is year three of kind of an incubator program. >> an accelerator like those that exist in the market but we focus specifically on mul multicultural and women entrepreneurs and give them three thing, cash, content, a six-month program with excellent content where we actually leverage the in-house expertise of morgan stanley professionals but also our external network and then we also connect them to our investment banking, sales and trading and other clients that might help scale their business. >> you started with 300 politics and win know it down to ten into which morgan stanley puts its own skin. >> that's exactly right. that's what is significant the fact that we've never had a supply issue if you talk to people today about why don't you investor more with women? why don't you invest more with mul multicultural entrepreneurs, the first response you get, i can't find any how big is that market well, let me say it again clearly. there is not a supply iss

morgan stanley is a bit of an outlier in their expectations.i want to talk about deutsche bank because wall street is very concerned about this they're talking about laying off 18,000 people. a lot of people in the overall business of trading and it is very simple what happened to deutsche bank. when you have the rise of electronic trading, when you have problems with the overall market here, with indexing, the rise of exchange traded funds and fewer active managers trading, it is very simple what happens on wall street you get lower volumes and you get lower profits and that's why a lot of people have been exiting the business deutsche bank was a major player, but not the number one player and now you see consolidation in this industry going on look at deutsche bank, this was a positive initial discussion when they announced the layoffs. up earlier over in europe. now it is turning negative, down 6% on the day. even a major reorganization like that isn't helping this. this stock is $25 in 2015. that's what happens when you have major problems

morgan stanley is due out any moment right now.it of $1.14 a share on revenue of $9.99 billion. stock is up going into the numbers, up about 1%. we'll bring you the numbers an full analysis coming up. microsoft, a name to watch this morning. this as the technology giant warns of hundreds of attempted election related hacks from other countries. we're watching netflix, the streaming giant takes a big hit after reporting a loss of u.s. subscribers and slow growth overseas. the stock down better than 11% this morning. futures are lower, indicating a decline of the start of trading of about 17 points on the dow, down almost a point on the s&p and down 10 points on the nasdaq. stocks were down yesterday as earnings season exposed weakness in growth outlooks for some companies. industrial and energy stocks the biggest drags. plaintiffs in worries a that the -- there's worries that the economies and profits will slow down the second half of the year. dow industrials were down 116 points, nasdaq lower by 37. global markets look like this.

plus morgan stanley betting on the rise of the machines, and it's paying off.ll tell you how its robotic strategy is beating thmaete rks. we'll explain on "power lunch. e million. there's everything from happy to extremely happy. there's also angry. i'm really angry clive! actually, really angry. thank you. but what if your business could understand what your customers are feeling... and then do something about it. turn problems into opportunities. thanks drone. customers into fanatics change the whole experience. alright who wants to go again? i do! i do! i have a really good feeling about this. >>> welcome back to "power lunch. i'm mike santoli at the new york stock exchange apple rallying into tomorrow's earnings report after ubs said this was the strongest seasonal stretch for the stock, so is this truly a good time to buy this time around harry and dina are your trading nation team today. so ari, put the stock in context for us obviously, a very dramatic reversal off that low in early january after the company warned about poor iphone sales. but the stock

i'm really excited to be part of the morgan stanley team. i'm justin rose.organ stanley. >>> let's send it over santoli. >> and we want to get the most favored nation consider the united states the most favored nation. look at this percentage of world market capitalization accounted for by the united states equity market up to 56%. this an all-time high. steady climb throughout the last, what, eight or nine years. an old story, we know that investment dollars have come here united states has better growth in the developed markets higher financial quality all the rest of it bit but you have to ask how long can it persist trades at a tremendous premium a lot of effects for this. other world are markets have less technology. less kind of stable growth we've heard it all >> and it didn't tell the actual story because for example china's gdp percentage is much higher than it is weighting and that is a msci decision. nonetheless, if you snapshot from 2011 to now, what it correctly points out is the outperformance of the equity markets because the weightings haven'

beenn stanley, they have known as a top equity trading shop on wall street.ally.o morgan stanley is also benefiting from some of the same dynamics, like getting market share from some competitors who have been retreating from that space, or like some of the other folks, reporting a downturn. that is a key one for me. romaine: more for morgan stanley thursday morning. and now, to our bloomberg reporter. coming up, blue apron, adding beyond meat to its meal kits. that is coming up next. this is bloomberg. ♪ ♪ want to bring you some breaking news, stocks, two breaking stories. the railroad missing on second-quarter earnings, missing on second quarter revenue, and, more importantly, their full-year revenue, they are looking at a decline of about 1% to 2%. they had previously protected growth for the full year. you see shares down about 5.5% to get on the flipside, united airlines actually rising a bit after hours, the company saying there second-quarter operating revenue and a lot of other key metrics also rising, slightly above what analysts were expecting, also

atley: betsy gray took over morgan stanley, cutting state street from overweight to underweight. heavy itn being how exposed the trust banks are to the curve. we have seen yields drop. they are heavily exposed.

this is not really a new coall for morgan stanley. they have been negative, somewhat bearish, at least cautious, on the market going back at least to the second quarter of 2018. then in the early september, they said well, maybe their call was a little premature. even in late january, after the market rallied very sharply off the december lows, they said it's time to get out of stocks, we really don't see much potential from these levels. liz: okay. >> then in april, they tried to, you know, they said look, maybe we were a little off on our timing, but they still had a very bearish call. all this is coming from their chief equity strategist. i'm not sure exactly who penned the report they have out today but it's obviously the same undertones they've had for close to a year and a half now. liz: okay. but phil, we know that we are now in a decade-long bull market and yes, today is the running of the bulls. that's already begun, that insanity. as we look at the running of the bulls here on wall street, how much longer does it really run?

morgan stanley going under on global stocks.he lira getting battered as the central bank governor was dispensed with. what does that mean for rate cuts? dollar korean won is a little bit on the move. a three-weekp into low. trade tensions rising. japan and korea. there was a survey in japan about pushing a little bit of pushback against korean exports into japan. nejra. the indian rupee slapping a 10 day winning streak so we are seeing a little bit of weakness and in u.s. futures as well. stocks dropped on friday following the jobs report is not cute offers we are seeing here in falling from record highs in u.s. stocks, too. the 10 year yield jumped 10 basis points on friday. the two-year yield coming down, hitting a 1.87 handled on friday. manus. manus: thank you. let's talk about the curveball that was thrown at the turkish market. president erdogan backed the .entral bank governor the move comes weeks before a policy decision on july 25. he reportedly told lawmakers to get behind the government's economic policies, including

morgan stanley is looking for the weaker dollar call. why?atthew: we have been looking for a weaker dollar for some time. i think the issue that we've been seeing, why has the dollar been weakening despite the fact that we have gone from pricing in two rate hikes as of last november and now we are pricing in four rate cuts over the next year is ultimately because the u.s. is the best house on a bad block. we are seeing investors are coming to the u.s. not just for high-grade fixed income securities but also equities. we are seeing defenses outperform. seeing utilities, staples, they all doing very well in equity complex. that is because people are nervous. people are uncertain about the future, given what is going on with trade and global growth, the two issues that powell is highlighting. that is why the dollar has been strengthening. once the u.s. will start to show its true colors, things will change. jonathan: are you comfortable with this dollar weaker call? mike: it has been our call for a while. talking to our ethics team, they -- talk

morgan stanley wrapped up the round up today.eo said the bank is focused on expense control going into a. of uncertainty. a a period of uncertainty and period of rate cuts instead of hikes. we are joined now by our bloomberg columnist. in times of stress, you need to act more quickly. perhaps this is leading some traders to look at 50 basis points instead of 25. >> the timing is suspect because of the feds back out. is about to start. sometimes, when they have something in mind, they are extra forceful in the days before that. between richard clarida and john williams, two of the big three, in terms of fed speakers, they are saying we need to act preemptively and aggressively. you are close to the zero bound, you need to go hard and fast. it is starting to get people concerned that it will be 50 basis point cut. caroline: we have been hearing of the need for shock and awe that we might see from the 50 basis point cut. we asked someone earlier how much they see yields on the u.s. 10 year going. >> all the way down to zero. i think

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley.id you know that feeling sluggish or weighed down could be signs that your digestive system isn't working at its best? taking metamucil every day can help. metamucil supports your daily digestive health using a special plant-based fiber called psyllium. psyllium works by forming a gel in your digestive system to trap and remove the waste that weighs you down. metamucil's gelling action also helps to lower cholesterol and slows sugar absorption to promote healthy blood sugar levels. so, start feeling lighter and more energetic by taking metamucil every day. >>> in corporate news, ab inbev seeks 9.$9.88 billion for its aa unit there are more than 50 beer brands in that region. >>> coming up on the show, the competition everyone in the office will be talking about today. it's a rivalry that goes back centuries. the details when "worldwide exchange" returns. there's brushing and there's oral-b power brushing. oral-b just cleans better. it's the one inspired by dentists... with the round br

al-jazeera washington well just in stanley is a professor of philosophy at yale university and the author of the book how fascism works he joins us live now from new haven in connecticut sir thank you so much for joining us here on al-jazeera just listening to that clip and listening to the crowd chants of the trump rallies fire i'm innocent of course of other crowds chanting lock her up when we were in the run up to the 2016 election how is the chant of send her back different twilight of the let's face of quite outrageous things that we have heard various strong proud. it's different because it focuses attention on citizenship on stripping citizenship from political opponents and religious minorities people have referred to this rally is reminiscent of the nuremberg rally and what's right about that is that the nuremberg laws concerned citizenship one of the main one of the 3 laws is about citizenship it's strip citizenship from. german jews and political opponents and and far suppose suppose that foreigners generally so this obsessive focus on citizenship on who is a real american that

morgan stanley -- who is doing them best? morgan stanley, golden has equity trading results. that raises the stakes for morgan stanley. we expect they remain the global leader but are they keeping pace , and in the longer term is there opportunity for them to gain more share? the second key metric for morgan stanley is their pre-taxed margin in the wealth business, bank of america called the record. 29% on the surface. enough to make that a new record and we are expecting to see good things from morgan stanley. david: based on what you have seen so far, particularly bank of america, if you had to make a move, either go heavy or lighter. which would -- we would you go? upside or downside? a good question. we are comfortable where we are but if you had to push one way or another, i would say tactically you could see upside. the expectation levels were pretty low coming into this earnings season. as we progress through earnings season and this contrasts with other areas of the market, they are starting to look good. we have trac

morgan stanley has turned bearish.k cutting its global equities allocation to the lowest in five years. it's is the outlook for stocks over the next three months looks particularly poor. in a new note, morgan stanley says profit forecasts remain optimistic, and orders for manufacturing keep getting worse. car sales showing sign of recovering from a historic slump come arising in june for the first time in 13 months. sales were up on was 5%. chinese car dealers offer discounts to clear out inventory. some employers are putting an end to weekend and late night emails. according to "the wall street journal," they are concerned about employee burnout. firms care consulting have software that puts messages sent after 10:00 p.m. on hold until 6:00 the next morning. i'm viviana hurtado. that is your bloomberg business flash. alix: i love that story because it is so unrealistic. david: exactly right. i bet you the ceo has figured out a way around that automatic putting it off. alix: like a phone call? it is called the sunday s

when become back, the blues may have one this year's stanley cup.e are going to hear from the nfl commissioner himself, gary bettman. this is bloomberg. ♪ shery: this is bloomberg markets. i'm shery ahn in new york. amber: the allen and company conference is underway in sun valley. it is a hotbed for hockey. ed hammond, is on the ground with top executives in the sport. >> thank you so much. i am joined by gary bettman, the commissioner of the nfl. thank you for joining us. gary: great to be here. >> you have been coming here around 20 years. you're the longest any commissioner of any pro sports league. what is the biggest change you have seen in the media landscape? gary: the opportunities to connect with our fans in new and different ways. new technologies, digital platforms, social media. with millennials and generation z's focusing on sports differently, we have to make sure we are connecting with our fans on their terms. going to become a relevant question in the next couple of years. what is the play? if you do have a direct consumer bid come

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley.! i live on my own now! i've got xfinity, because i like to live life in the fast lane. unlike my parents. you rambling about xfinity again? you're so cute when you get excited... anyways... i've got their app right here, i can troubleshoot. i can schedule a time for them to call me back, it's great! you have our number programmed in? ya i don't even know your phone anymore... excuse me?! what? i don't know your phone number. aw well. he doesn't know our phone number! you have our fax number, obviously... today's xfinity service. simple. easy. awesome. i'll pass. >>> new developments this morning in the case against jeffrey epstein. good morning, sarah. >> new developments not only with episfeen but u.s. labor secretary acosta who said the plea bargain in 2008 was the only way that he could insure epstein went to jail but a former florida state attorney is calling that totally false >> laborer secretary on the defense. >> backs are important and they're being over looked. >> rebuffing

morgan stanley says a 50 basis point in july. markets pare back expectations. growth herek tuesday. the european commission cuts growth and inflation forecasts. 's and parliament kickoff the next crisis of trying to avoid a no deal brexit. david: welcome to "bloomberg daybreak." just before we came to air we the u.k.involving the ambassador to the u.s. has resigned. alix: did he really have any choice? david: there were those cables leaked that were very frank about his assessment of the president, and it was not very flattering. it was business as usual, but five hours later that proves not to be the case. david: but president trump really had gone after him, even calling him stupid and things like that. at the same time, the british government backed him. but it is hard to do your job if they are not going to talk to you. alix: for sure. but also the leaking. he was supposed to report back. that was the point. in the markets, we are seeing a bond selloff headed into the fed , particularly on the long end and in europe. german bund yields are at their highest level since three week

stanley kubrick's 2001 a space odyssey. and advertisements for the film called it the ultimate trip and probably would probably have a great. it was the light 960 s. after all and many young people were experimenting with psychoactive drugs. and all this mind team 6 to 9 the woodstock festival took place in the u.s. a key event in the history of popular music and american counterculture. always song space oddity reached the top 5 on the geek a chance and went. it's released a 975 it went to number one the song has been covered by many artists. even in space. you just saw. in 2013 the international space station commander chris hadfield sang a version of the song at the end of his mission hadfield change the lyrics slightly so that major tom returned to earth safe and sound to. you. a chance. to do college level mission required a massive effort an estimated 400000 people took part in developing the technology for the moon landing had a huge influence on the movies nasa itself delivered spectacular pictures in july 969 short

i'm really excited to be part of the morgan stanley team. i'm justin rose....or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. >>> welcome back to "squawk alley. turning to apple shares still in the red this morning, but our next guest remains establish on the stock, saying that worries over china numbers are just noise that's wedbush securities analyst as well as tom fort who also has a buy on the stock. gentlemen, it's nice to see you in person this morning dan, you've been conducting checks, your team has, component makers on the ground in asia so looking at the note this morning, which shares are reacting from rosenblatt securities, why do you think that fears may be overblown? >> in terms of all of our checks, we see a slight tickup in terms of units, 180 million for the year and in terms of china, weapon continue to have 60 to 70 million iphones in the next 12 to 18 months for us, even though there's a lot of noise, i think the china overhang is abou

morgan stanley is losing ground on wall street.st stock trading -- a drop in equities trading revenue, blaming lower client balances. that was the steepest decline among major u.s. banks and even surprise jump in what management fees was not enough to over set an overall all in revenue. shery: microsoft gained an extended trade. estimates topped estimates -- the cloud computing business racked up more clients for it azure web services. commercial cloud revenue jumped by more than one third. the profit margins widened to 55%. shares surged on optimism over the cloud business. paul: the outlook is bright for the world's largest contract chipmaker. projected quarterly revenue that was better than estimates and shoved off concerns about a downturn in the mid-the smartphone slump in the ongoing trade war. income in the previous quarter fell to just over 2 billion u.s. dollars. they -- it was better than analysts expected. businesses are set to rebound. shery: nvidia is considering asset sales. after the failed listing of its asian unit

morgan stanley is looking for that weaker dollar call. why? for ahave been looking weaker dollar for some time. the issue we have been seeing, why has the dollar been weakening despite the fact we have gone from pricing in two rate hikes since last november, now we are pricing in four rate cuts over the next year. the u.s. is the best house on a bad block and we are seeing lots of investors come to the u.s. not just for high-grade fixed income security but for equities. we are seeing defenses , staples,, utilities they are all doing very well within the equity complex and it is because people are nervous. people are not certain about the future given what is going on with trade and global growth which are the two issues that powell is highlighting. that is why the dollar has been strengthening but once the u.s. shows its true colors, we think things will change. comfortable with that dollar call? >> it has been our call. sometimes the rate differentials threaten currencies, sometimes they do not. there has been a dollar flight but if you look

morgan stanley is looking for the weaker dollar call.atthew: we have been looking for a weaker dollar for some time. seeingue that we've been , why has the dollar been weakening despite the fact that we have gone from pricing in two rate hikes in november and now we have four rate cuts over the next year, ultimately, because the u.s. is the best house on a bad block. investors are coming to the u.s. not just for fixed income securities but also equities. defenses outperform. utilities, staples. all doing very well in equity complex. it is because people are nervous, uncertain about the future, given what is going on with trade and global growth, the issues that powell is highlighting. that is why the dollar has been strengthening. once the u.s. starts to show its true colors, things will change. jonathan: are you comfortable with his dollar weaker call? mike: it has been our call for a while. sometimes these rate differentials drive currencies, sometimes they don't. i agree there has been a dollar flight. but is the world a safe haven pl

taylor: quickly, you mentioned that jp morgan is getting in after morgan stanley. other big players we know of in the machine learning hedge fund to fund space? hema: it is a smaller space. we don't see too many at this point. we do see greater interest from allocators in machine learning strategies because it is so hard to find an edge nowadays if you are a hedge fund. everyone's trying to push into new territory, get new data and figure out new ways to clean it up. taylor: always about the new landscape. thank you. that was bloomberg's hema parmar. that does it for this edition of "bloomberg technology." "bloomberg technology" is livestreaming on twitter. check us out @technology. and be sure to follow our global breaking news network, tictoc, on twitter. this is bloomberg. ♪ >> the following is a paid program. the views and opinions expressed do not reflect those of bloomberg lp, affiliates, or its employees. >> up next, how would you like to get the celebrity secret for ageless skin? paidnd out how in this presentation for meaningful beauty. presentation for me

shery: we have morgan stanley, the last one, tomorrow. will we see a similar narrative? will be different with morgan stanley because they are seen as a trading powerhouse and trading did not do well this week. indman sachs did do well trading, so it will be interesting to see if morgan stanley can compete with its big wall street competitors in terms of trading, but the bar is kind of low because everyone has already seen trading across most of the other banks not doing very well. paul: thanks for joining us. still to come, joe masters joins me in sydney to talk about her outlook for jobs and what is next for the rba. this is bloomberg. paul: you are watching "daybreak australia." we are awaiting june data for the us trillion market. it will be out later on today and it is traditionally one of the most unpredictable numbers. economists expecting just 9000 new jobs to be added, and it could fuel renewed expectations of another rate cut next month. this jobs read, perhaps more than any others recently, shaping up as a very important one for the rba, isn't it? >> absolutel

i'm really excited to be part of the morgan stanley team. i'm justin rose.are morgan stanley. >>> welcome back to "fast money" it is time for earnings. ship poetly, snap and visa on the move after reporting we will kick things off with julia boorstin with the latest from snap's conference call. julia. >> well, melissa, the ceo says changes they have made are working to drive growth in users and revenue. he says they have laid the ground work for that momentum to continue. >> a redesigned application helps new snapchaters adopt retentive behaviors like talking to real friends or rebuild android application provides a better experience. we have accel brated revenue growth supporting a growing community around the world. >> snap guiding for better than expected results in the third quarter including as much as an 11% year-over-year user increase that's a faster rate than snap reported this quarter. now, one source of that confidence is snap's investment in content >> as a result of our investments in our content platform, total daily time spent by snapchaters i

still with us is hans redeker from morgan stanley.t know you see oil in a range of 40 to 70 which is of no use to anyone. how do you see oil impacting your forecast? hans: when you have opec which is restricting supply and at the same time you see oil price declining and oil industry going up. we will have today oil inventory release and you know that there are significant demands being on its way. i mentioned in the oil market, we have noticed significant declines in oil demand to south korea, the united states, japan has been the most significant moves and those will weigh on the oil frarkt. francine: getting breaking news out of the nikkei, a japanese company, saying amazon looks fed to shift some production out of china. things like that according it h.p. and dell will move 30% of their noteboob out of china. how does it change things chinese pends on reaction. it needs to be domestic demand driven and i think they are forced by this announcement and news, they are forced to be quicker in that and i think that initially this negat