vonnie: mcdonald's ceo steve easterbrook earlier on bloomberg markets. squeaking through a procedural vote to begin debating and affordable care longer placement in the senate, majority leader mitch mcconnell took the floor today and challenged both parties to offer opinions on how to improve any potential legislation. >> we are determined to do everything we can to succeed. we know our constituents are counting on us. we will work through an open amendment process. i know members of both parties have health care ideas they would like to offer. if you've got one, bring it to the floor. rejected hisate wide-ranging health care proposal last night. those voting no included nine republicans. president trump has not said if he will fire attorney general jeff sessions. he tweeted his disappointment that sessions recused himself from the russia investigation and added he would not hire him in hindsight. speaking to bloomberg, alabama's senior senator defended the attorney general. >> i think he did the right thing when he recused himself when people raised the

. >> mcdonald's expanding it's delivery program steve easterbrook is here in the house and will join us live at post nine to discuss the 787, the orders are amazing. this is a company with just a level of cash flow that people were surprised by. a couple of quarters last when people got very kpietd aexcited conference call began and the air went out of the balloon and that's not going to happen this time and the operating cash flow which is what i think has been the hall mark of this whole quarter. revenue growth instead. >> the previous ceo was fan fantastic. he is talking about a new product. and remember it's been going down when i talked to him this morning i felt terrific about it by the way, we talked about the value dollar, coca-cola at mcdonald's and howell that's done i had to of course talk to mr. easterbrook. couldn't resist but at the same time he is committed to being soft drink and water -- he's committed to being beverage. i asked him, you have the fire power now because you have done this refranchising you have a fabulous balance sheet is it time to move out of bevera

this man, you know him, the company's chief executive, steve easterbrook.1:00 eastern time. don't miss that interview here on bloomberg. they want of the fomc meeting. they do tomorrow. this is bloomberg. ♪ vonnie: it is 5:00 p.m. in london and midnight in hong kong. i am vonnie quinn. welcome to "bloomberg markets." ♪ vonnie: from bloomberg world headquarters in new york, here are the top stories we are following. as promised by mitch mcconnell, a procedural vote in the senate this afternoon on the affordable care act. whether not quite sure they are proceeding on repeal or repeal and replace. a deep dive into the world of online gaming. ofes zenni, founder and ceo z capital group is here. equity --k on it private equity. chipotle could use good news. they release earnings after the bell. julie hyman is with us now. we are halfway into the trading day. jul

in fact, leadership, leaders and strategy counts and steve easterbrook is a quiet, strong, studious,elligent man who laid out a strategy. he has been working his plan ever since he came back to the u.s. he has got the total unabridged support of the mcdonald's franchisees and they are the rock on which mcdonald's is built. it's a much more complex matter than free sodas. >> all right how did he get that confidence of the franchisees famously corporate tells franchisees we want to do this it may mean you have to buy additional equipment and there's always been friction around that how did that go away, if it has? >> there's always that dynamic tension. the thing you have to remember, franchisees invested a lot of money and work hard at that business and it's the only restaurant business they're allowed to be involved in so they don't have divided loyalties. there's a constant give and take, a push/pull. that helps grow the system as fred turner and ray crock used to say, if you can't get the franchisees convinced to do something, you probably shouldn't do it. >> if it's not just about

steve easterbrook, ceo of mcdonald's. vonnie: bloomberg's erik schatzker, thank you for that. still ahead, before the fed decision, will be dollar continue its slump? the dollar already down 8%. mark: let's check european markets. we are awaiting the fed decision, stocks arising. that's a currency board, bonds, commodities. one additional you this chart. -- wanted to show you this chart. a strong macro environment, higher inflation, and relatively low analyst expectations make a compelling case for european value stocks, the words of sanford city, bernstein. as you can see, it's outperforming the s&p and the msci emerging markets. on the subject of emerging markets, this is interesting because traders are piling into this etf, tracking emerging markets. poised for msci etf its longest streak of monthly almost $2.4hering billion since march. keep an eye on that after the decision little bit later. vonnie: i will, mark. thank you for the advice, let you know tomorrow morning. that fed are awaiting decision mark talked about at 2:00 p.m. eastern, 7 p.m. london time and joining us

. >>> be sure to catch mcdonald ceo steve easterbrook on squa"sw on the street" this is just after the fast food giant reported better than expected results other stocks to watch from yesterday, at&t shares moving higher after their earnings beats the strooeet and reportin strong growth. and amd shares are shoring chip maker upping its full year guidance up over 10%. shares of u.s. steel are sharply higher, pointing to higher vices and volumes across all segments. >> and texas instruments second quarter results beating forecasts. they benefit from chips for its automotive and industrial customers. and forecasting third quarter profit and revenue both above analyst estimates. wynn reports profits fell short. they say business at its newest resort continues to be hurt by construction nearby that may not end until next year. amgen posting better than expected quarter profit. >>> in deal news, viacom has told scripps an all-cash bid it yesterday david faber reported that the skscripps family want cash deal. >>> and citi moving higher yesterday. they say restructuring is over and his new ea

later this morning catch mcdonald's chooe steve easterbrook on "squawk on the street" at 9:00 easternstay tuned so that's the idea. what do you think? hate to play devil's advocate but... i kind of feel like it's a game changer. i wouldn't go that far. are you there? he's probably on mute. yeah... gary won't like it. why? because he's gary. (phone ringing) what? keep going! yeah... (laughs) (voice on phone) it's not millennial enough. there are a lot of ways to say no. thank you so much. thank you! so we're doing it. yes! start saying yes to your company's best ideas. let us help with money and know-how, so you can get business done. american express open. i'm the one clocking in... when you're clocking out. sensing your every move and automatically adjusting to help you stay effortlessly comfortable. there. i can even warm these to help you fall asleep faster. does your bed do that? oh. i don't actually talk. though i'm smart enough to. i'm the new sleep number 360 smart bed. let's meet at a sleep number store. >>> i had a feeling. you know they just reported earnings welcome back to

what is it about steve easterbrook, the ceo, that people don't understand? it seems like other than me, he's been doubted every quarter since he took over when the stock was in the 90s mocking him as a one-time winner hardly they didn't believe it would matter that he simplified the menu or he came up with new and good tasting sandwiches. came up with some new ideas for the rest of the business worldwide. but despite the skeptics, everything has worked, and the franchisees have bought in that's how you get a mega cap skok going from 90 to $159 everything has worked at mcdonald's, and easterbrook is far from finished, even after the stock's 4.8% move today. i can't wait to speak to him on squawk on the street tomorrow. last time i asked him why is it going to well? he said, jim, mojo let's talk about the stocks that aren't getting the benefit of the doubt today even though they deserve it let's start with this ceo of 3-m, whose stock got chainsawed today, losing 5% after the company delivered a good but not great quarter after so many terrific ones. honestly,

craig, your thoughts on the statements by steve easterbrook -- mcdonald's has not had to deal with theoss is the way to pull a just a food safety crisis the way chipotle has. craig: most people would agree that fresh beef tastes better than other types of patties. decades's has spent making sure people do not get sick of the restaurants, so now the ceo is saying we are pushing harder to fresh beef, so it opens them up to risks. interesting to watch. gota: with chipotle, we earnings yesterday and a lot of focus on what the company is going to do. newstried to add some new in terms of cheese and what they are doing there. the is your assessment of menu change, which is pretty rare for these guys? craig: they used the term case queso two dozen times yesterday. people from texas feel strongly it is made of they'll be the cheese. it is -- made of velveeta c heese. it is processed. they have made their bones on a simple menu. that has been the idea, a couple ingredients and they put it together. we they are obviously saying need to change the narrative and have people talking about our food

thanks to a turnaround plan put in place two yea rs turnaround plan put in place two years ago by steve easterbrooknt company reported a 46%jump in mining equipment company reported a 46% jump in quarterly profits. mining equipment company reported a 46%jump in quarterly profits. its shares have risen about 5.5%, all before the market opened though, the official market, on wall street, talking of which, we can show you the markets. caterpillar doing well pushes the dow up. the dow is only 30 companies, so when you get one of the companies in there going up a lot, you see the whole index go up. the nasdaq down a bit. that is the business news. more in an hour. for the first time in living memory, dozens of fountains which adorn st peter's square and the vatican are being turned off. a vatican spokesman said the move is an act of solidarity with the people of the city who face severe water shortages because of a prolonged drought. james reynolds reports now from rome. you can look up to the sky as much as you want, but right now rain isn't coming to rome. during this dry summer, the vatican is taking

yvonne: that was mcdonald's ceo steve easterbrook talking to erik schatzker.g is our interactive tv function. you can find it at tv . you cannot only watch us live but see previous interviews and dive into the securities and bloomberg functions we talk about constantly. you can become part of the conversation by sending instant messages during our shows. this is for bloomberg subscribers only. this is bloomberg. ♪ kathleen: this is "daybreak: asia." i'm kathleen hays in new york. yvonne: i'm yvonne man in hong kong. let's do a quick check of the latest business flash headlines. china's largest publicly traded oil and gas company says profit rebounded in the first half. petrochina says net income may have risen to about $1.6 billion compared to $78 million a year earlier. that was the company's worst profit since listing in 2000. petrochina has cut costs and says it will continue to keep a lid on expenditure. nikkei says japan has asked creditors for millions of dollars to finance its ongoing turnaround effort to provide loan guarantees. nikkei says the app

recently learned about ulta always late to the party on these things >>> meanwhile, mcdonald's ceo steve easterbrook sat down with squawk on the street earlier today. announced the biggest jump in global sales in five years in yesterday's earnings report. shares are lower, down nearly 2%, they hit an all-time high earlier. and addressed the impact of technology on his industry this morning. listen >> i think what you're saying is a lot of traditional industries are getting disrupted by technology have they caught odd discussions, why don't we be the ones to disrupt ourselves rather than wait to be disrupted? off choice either be the disrupter or you're disrupted so, technology's going to play a part on that that's why we're dump doubling down on or commitment. more and more rapidly. and, you know, i've said yesterday on the call. today is the slowest the world's ever going to be moving looking forward. it's only going to speed up. you have to drive that pace of change yourself. and i tell you what, it's fun to do that. >> mad money's jim kramer joins us now, jim, a very big day. is this all about on

now you seem to be talking like steve easterbrook is talking at mcdonald's it's not so much about the product offerings, it's the delivery system itself i mean, he went to all-day breakfast. he went to upscale sandwiches, but with this earnings report this week all he wanted to talk about was technology you seem to be telling the same story here, yes? >> well, we've been certain for some time and it may be the british connection, bill, but i think that -- i think that the mcdonald's are following the same game plan as we've had for some time. i think we've got the leading app in our space i think consumers find it very convenient, and i just want to go back to your first comment because also in the headline the breakfast burrito will come back at some stage. it was lto, limited time offer we actually had a record quarter in terms of breakfast sandwiches that's despite us positioning ourselves as being beverage led and on the go, beverage led on-the-go brand and what happens is sour breakfast sandwiches is naturally attached to our beverages. so product we're not throwing out of the wi

and steve easterbrook will way in tomorrow on "squawk on the street." rewe are the days when mcdonald's owned chipotles, right? >> they spun it off. chipotle is like a $9 billion, $10 billion company but it's a fascinating one, not only because it's a fascinating growth stock and has had its volatility, but we all like to talk about rats falling from the ceiling and all that kind of stuff. you know, this is kind of -- if you can get that right and you can stop it so that rats stop falling from the ceiling, there is a lot of upside here. >> what's your own -- have you been frequenting chipotle, rob were you a big chipotle guy in the past >> this is why i say this. i've got a 19-year-old son hey, i'm going to be talking about chipotle today, what do you think? he said i don't care what they put in the guac i'm still going to eat it. they have truly loyal fans i hope he's not actually -- that that's not fully the way he would deal with a bowl of guacamole and disease but i think they do have a fantastic product. just got to get this right and these little