su keenan examples -- examines the global turmoil in the debate on gold. on the impact of the war israeli tourism season. in a moment, but first, a five day extension of the cease-fire appears to be holding. indirect associations are underway in cairo between israel and major palestinian factions, hamas.ng, spain -- but visitors are avoiding israel by the thousands. the conflict is coming at the peak of the tourist season and having a devastating impact on one of israel's major industries. >> as indirect negotiations continue between israel and hamas, and the alleyways and oneet stalls in jerusalem, part of the gaza conflict is beyond dispute. resume here has been devastated. >> how many customers do you have at the moment? >> at the moment, zero. >> none will stop >> my guide runs a small touring company for those visiting jerusalem him near and far. during in better times, his clientele ranges from day tripping israeli couples to large groups from china. us --someone is calling and i >> tourism trade is one of israel's largest economic drivers. >> we are

first, let's get headlines from su keenan. >> we start with bank of america. shares gained more than 4%, the largest increase since may of 2013, this after the company agreed to pay $245 million on s&p allegations. and failed to disclose mortgage losses. that resolves part of the $16.65 billion -- home depot has named its next ceo. the home-improvement retailer says the new ceo will take over november 1. craig has overseen the company's online businesses. finally, old navy seems to be steering the gaia -- the sales shipped for cap. -- gap. that is the latest. >> the s&p 500 gained today on economic reports, as well as federal reserve minutes released for july. janet yellen is going to give her first-ever speech as federal reserve chief tomorrow at the jackson hole wyoming symposium, entitled "economics: reevaluating the labor market." mike mckee is there, and he joins us now. tell us what we can expect. >> this is sort of an academic conference. it isn't clear how much detail she will go into. it isn't clear whether she is going to talk about fed policy. she m

let's get headlines from su keenan. >> we start with the big winner in today's training. wake up and smell the single service coffeemaker's deal with kraft. it posted most in three months up 13% after announcing a deal that will bring kraft brands to its homebrewing system. foot locker shares rose to a record high today after the athletic shoe chain posted second-quarter sales that beat estimates. foot locker is overcoming a broader retail slump by revamping store layouts and merchandising. general motors, the world's second-biggest carmaker, is cutting production in russia where the economy is weakening because of the ongoing conflict with ukraine. g.m. halted carmaking at its plant in st. petersburg and plans to refurbish through october 27. >> new details from the annual conference in jackson hole, wyoming. janet yellen and mario draghi both spoke today. michael mckee is there and joins me with the latest. >> pimm, certainly not a day you could necessarily trade on but a lot of information for investors to digest. two central bankers with their economies going in diffe

back to you. >> thanks very much, su keenan. the u.s.championship set to become -- begin on monday. rafael nadal is out with a wrist injury. the sport of tennis is doing just fine without him. according to one research report, the sport added over 650,000 players in 2013. to tell us more about the growth and popularity of tennis is greg mason, president of the tennis industry association. thank you for being here. >> my pleasure. we have to start by talking about the us open. who do you think will win? >> you have a great open. djokovic playing well, federer challenging, a fan favorite. it is going to be interesting. you have serena on the women's side. halep is a youngster coming up and challenging. it should be a good tournament. it always is. >> you are so diplomatic. the sport of tennis, tell us about the popularity. what is going on? >> it has been a lot of fun. ranked the top 10 sports. tennis was the only traditional sport. the others are running, cycling, walking, things like that. the tennis industry association is all about gro

su keenan. hired the former top political adviser to president obama.ell help the company with regulatory rules and mounting opposition around the globe. in an exclusive interview, he told bloomberg's trish regan about the job. -- it isind of product hard to stand in the way it. people can put up a fight. we are prepared to make sure that we're fighting for that transportation alternative. >> he will start with the company in late september. the biggest spinoff in the mining industry. it will separate aluminum, coal, and silver. in new unit will operate five countries from australia to south africa. finally, a manhattan tavern that has kept its dive bar atmosphere. .hey have won a court order a court order stop worldwide -- evenom a victory in eating the watering hole. -- evicting the waterhole. lost nine cents a share in the last quarter. down 6%. the former chief executive says he has seen a law a big news in the report. it will reflect well on him. trish regan spoke exclusively within yesterday. you had a busy 24 hours. >> we had a chat on the phone.

first, let's get headlines from su keenan. >> you mentioned king digital, second-quarter sales missed analyst estimates. they cut their 2014 outlook and declared a $150 million special dividend. the stock is getting hammered in the after-hours trade. down as much as 20%. kate spade, the hand bag maker fell the most in more than five years on concerns that it is starting to cool. the coo says that they will continue at a high singled in this percentage rate. this follows a 30% gain in the first half. job growth rose to the highest level in more than 13 years. the number of unfilled position climbed by 94,000. that is the most since february, 2001. >> another big headline comes from the world of sports. the former microsoft executive steve ballmer officially has become the owner of the los angeles clippers. this comes after a judge determined that shelley sterling had the authority to sell the team. trish regan spoke with both steve ballmer and dick parsons. >> according to throw my sources, i learned last night that the lawyers were working very very hard around-the-clock. >> that is w

su keenan is here in the newsroom with the details.ternoon. >> we have got oil snapping a five-day losing streak, crop futures rallying, and hedge funds cutting back on their polish gold bets. let's check on oil, because it is bouncing back on the day, rebounding from a month that proved profitable for oil bears. it is the most in more than two years. a lot of this has to do with refiners cutting back rates as gas demand dropped. we had a lot of fuel stockpiles . positions paid off as oil futures fell to a six-month low. analysts say last week's more than four percent drop is now being seen as overdone and rising tensions in iraq, that is also behind today''s rebound. militants have taken control of oilfields. two gasoline futures are moving lower and this has a lot to do highestineries production sister thousand five. a lot of this is being passed onto consumers in what we are calling a nice mid summer break, with some of the lowest prices at the punch -- at the pump since mid-march. just over $3.50 a gallon. the biggest gainers, what

my colleague su keenan is standing by. analysts are scrambling to update forecast right now. >> that is really the story here, particularly in terms of the bullish outlook for gold, mark. the interesting story in gold is the longer-term outlook is --ually perish, this bearish, this on the view that the airstrikes will stabilize iraq. longer term this may actually be good for supply. "the ability to move around has given the militants -- has been the militants raid a strength and u.s. air power can take that away." they have spared the production in iraq south, which is the home base of three quarters of its output. that is compared with about 10 million a day from saudi arabia, the largest producer. in early rally faded. we are eking out a small gain for oil, gas and heating oil closing the day lower. the bigger picture -- the combination of geopolitical events in the mideast is causing some analysts to raise longer-term price protections. barclays is one. they say that the risk is to the upside for oil. unreliable libyan

all that and more over the next hours will stop first let's get the headlines from su keenan in the bloomberg news room. >> caesar's indeed out with earnings -- net losses widened to more than $466 million. caesar's had only one profitable year since 2008. they have struggled to service $23 billion in long-term debt incurred in a leveraged buyout. jpmorgan is said to be considering moving its headquarters to a new location in new york city because the company now has fewer employees in manhattan according to a person briefed on the discussion. they could move offices to the world trade center or hudson yard. discussion is set to be at an early stage and no decision is imminent. priceline reported better than were cast earnings, saying more consumers are using its website to land summer trips. lienngs rose 34% to 13.5 dollars and those are your top headlines. but thank you very much. president obama is about to speak on the political crisis in iraq. i want to bring in our chief washington correspondent peter cook will stop what can we expect to hear from the president? >> a very tense politica

let's get the latest headlines from su keenan in the newsroom. >> thanks. the st. louis fed president speaking this afternoon, saying that financial markets are probably mistaken if they are counting on the fed pause to occurrate increases more slowly than policy makers forecast. bullard said that the market is trading to dove visually compared to the committee. ibm says the sales at its news low in the server business cleared a u.s. national security .eview the announcement paves the way for the companies to complete the $2.3 billion transaction. that transaction is under scrutiny because of tensions over cyber intrusion between china and the u.s. finally, tesla is modifying the warrantee for its model s said and. forill offer battery packs eight years for new and existing customers. elon musk says the warrantee changes will have a moderately .egative effect those are the top headlines. back to you. >> thanks so much. another headline was the ongoing confrontation in ukraine. the government and kiev says troops destroyed part of a convoy of military vehicles that

su keenan.berries smart phone shipments grew 15% in the second quarter from the previous three months. that marks the first sequential gain of this year. the chief executive john chen's turnaround plan seems to be taking hold. tell us what is going on with blackberry and this 15% increase. >> you are right. they had a 15% increase in the second quarter. that means they shipped about 200,000 more phones than they did in the first quarter. it sounds like good news, but we have to look at it in the context compared to last year. 78% fewer phones, almost 5 million fewer phones they shipped this quarter than they did the same time last year. december,came in initiated the structuring and turnaround plan, giving more confidence to investors. looksr get it and say it like people are at least not getting rid of them or at least not ignoring those contracts as much as they might have been throughout the past year, but it is still just one quarter. we have to see how they keep moving forward. detailedhave

i want to go right to su keenan. >> some of europe's biggest drugmaker's are among the bidders for theotech company. clock so smithkline is also said to be -- glaxosmithkline is also said to be in the bidding. earlier we reported that cisco's fourth-quarter sales topped analyst estimates. cisco plans to cut a percent of its workforce -- 8% of its workforce. it will be taking charges the sheer of up to $700 million -- this year of up to $700 million. new jersey governor chris christie announced he will convene a summit of state and local leaders to discuss the future of atlantic city's. the total number closing the to four.4 -- this year stay with bloomberg television as trish regan reports live from atlantic city. that is tomorrow, beginning at 8:00 eastern. has bloomberg news report reignited the debate over the safety of a substance called -- over a substance. it has been linked to cancer cell growth. you can still find it in some products. colgate stands by its products. .ther retailers, not so sure our nextell us more, guest. thank you for being here. tell us the news. .hat is goin

in new york, su keenan. of theok now at some other stories we are following.les is here with the details. >> tata motors can thank china's love of land rovers for lowering its bond risk. demand helped tata report its biggest profit jump since 2010. shares of the land rover soared last month. it is a beat for sinopec. by a-half profit rising more than expected 7.5%. sinopec is at the forefront of china's restructured state-controlled companies. raisempany is seeking to $17 billion by selling about one third of its retail unit. this test of the shanghai and hong kong stock index has passed smoothly. the hong kong exchange says around 80% of market turnover took part in the trial. the market reversal is scheduled for this weekend with the tie up scheduled for lunch in october. that is a wrap of your top corporate headlines. >> buying luxury in china is fast becoming a hunting ground for the bargain hunters. the enormous appetite remains yet the internet is muscling in on the high street with heavy discounts. if you don't want to buy, you can always rent for a fra

look at the headlines we go to su keenan. >> an agreement to extend the truce, the delegations attending talks in the egyptian capital have been laboring for five days. steve ballmer makes his first appearance to clippers fans since acquiring the team. and finally, the retailer reported a net loss of $16.2 million. >> thank you. it has been 37 years since the death of the king of rock 'n roll, elvis presley. yet his legacy lives on in a big way. thanks in part to the estimated 600,000 fans who love graceland every year. there are plans for a $70 million hotel with elvis artifacts. thank you for being here. if your example you happen to be under a rock the last bit the years, describe graceland for people who have never been. >> it is really the center of not just music and pop culture. elvis started a revolution. john lennon said before elvis there was nothing. paul mccartney was gracious enough to visit earlier in the year. anyone who is anyone who is a musician owes a great deal to elvis. when you come to graceland and memphis you get it. my first visit 23 years ago, i will never forge

let's get headlines on su keenan. >> aig out with earnings that the company estimates and climbed 13%. it is the final earnings report under chief executive officer robert ben gaucher. shares are rising. pandora is expanding beyond just sports, news, and talk read services has become more available and cars. our cfo says -- budget group reporting after raising its revenue forecast for the year. that stock gaining in extended training. >> thank you very much. west africa's fight against ebola may be overshadowing a white house summit. vice president of life. joseph o'connor -- vice president of liberia joseph speaks. >> we are experiencing an emergency we have never experienced before. the controlled measures we need to put into place have not been adequately -- we are now gearing up so we need to move it very fast. >> with more on the ebola virus and what we should be concerned about we have dr. ian live again. he is from columbia university and at the director for the center for infection and immunity. he also serves as a consultant for the medical thriller movie contagion. inc. you

su keenan is on the newsroom. >> the latest supply pressure oil prices.e on the so-called breakfast commodities take the cake, orange juice and coffee. fruitspoint orange juice -- orange juice futures doubled. this threatens growth in florida. the rally for the last two days, florida after brazil. there are renewed supplies concerns. the focus has been on the drought and the aftermath in brazil. set for thet is worst slump since 1965. conditions now in central america, that is just adding fuel to the fire. there are predictions that we could see a valid move to the upside for coffee which is one of the winningest commodities. >> a little bit more about oil, what is going on in oklahoma? >> well, that is a key delivery point. that is where we are seeing continuing rises for the fourth straight week. lower prices right now. they would not be surprised to to be in the mid-80 tossed by the end of the year. inventories, almost a million barrels which was less than forecast. surging, four percent gas prices. $.80 a gallon. as onentinue to shape up of waning domestic demand. one trader describes the m

su keenan reporting recorder sales and profits topping analyst estimates. we understand cisco has announced job cuts of eight percent that would amount to about 6000 jobs at the telecom giant. the company saying it will take charge of up to $700 million in the first quarter. be $.51 per share would per share to $.53 per share. that is below that average analyst estimates. we will follow this story coming up. also, i will talk to the head of a wine figured. .- wine vineyard why long island is battling napa valley to have the title of winemaking capital of the country. from siberia to silicon valley. the cost of social sopping with the founder and chief executive. find out what it is next. ♪ on>> this is "taking stock" bloomberg. i'm pimm fox. macy's cut the sales forecast for the year. coles, walmart, jcpenney and nordstrom all report earnings tomorrow. or more on their fortunes president of customer growth partners, a consulting firm that focuses exclusively on retail companies. always a pleasure to see you. want to start with macy's, what is going on there

time for the commodities report with su keenan. >> oil is the big focus.sing on the report of violence in the ukraine, the attack on the convoy entering the country from russia. to quote one veteran trader, when there is a prospect of a ground war in europe, he notes prices had fallen a lot in the market was ready for rebound. traders came into cover positions. we have seen a lot of violence in that region have a knee-jerk impact on oil. a barclays analyst says it provides string to the upside for supply and demand. we saw a surge in march when ukraine mobilized its army. we are seeing that today. $97 $.90.ing oil at we are seeing the rest of the energy complex move higher with the exception of natural gas. the bullish economic data was reduction and wholesale rises have played into the rally. natural gas down as much as 3.3%. we are seeing a close close to the low. all having to do with the weather as we get into the back half of the month, strategists say the heat will not be enough to increase electric power demand. that goes directly to price. we are s

we will have headlines from su keenan. >> fresh from his appearance at this week's los angeles clippers rally, steve ballmer has resigned. it comes eight months after. he remains the top individual shareholder of microsoft. the company's second-quarter profits topped analyst estimates. big-ticket items like appliances helped to drive earnings. another stock hitting another rickett point -- apple. investors look ahead to new products and bigger screen iphones and wristwatch device that may jumpstart growth. back to you. unrest ining ferguson, missouri. police fired tear gas at protesters. he was there when violence broke out last night and joint his via telephone from st. louis. tell us what you saw last night. >> last month, the streets of ferguson, missouri look like a war zone. there was tear gas, smoke bombs, loud sounds that sound alike bombs. police tried to disperse crowds of unruly protesters who were still on the street around the idnight. >> who made up the protesters? >> it was a very diverse crowd. people came out for many reasons. people from other states, people who want to

su keenan is standing by. >> let's get you caught up on where the markets are trading.are starting to see a turn in what has been a down trade. the s&p trying to move higher. it is on track for its worst week since 2012. all three indices off of the lows of the session. valiant pharmaceuticals is being allergan. stock only aware of the takeover intentions. the luxury upscale hotel operator returning cash to shareholders, declaring a special dividend of $.65 per share. 400 millionincludes more than the previous authorization. we are back on the markets in 30 minutes. ♪ >> welcome back to the second half-hour of bottom line on bloomberg television. i am mark crumpton in new york. thanks for staying with us. the president of the united states is expected in the white house press briefing room in about five minutes or so, topics expected to include the conversation he had today with russian president vladimir putin and perhaps the situation in gaza between israel and hamas. as soon as that conversation gets underway, we will bring it to you live. let's check some top storie

first, the headlines from bloomberg news' su keenan. that coca-cola will buy a 17% stake in monster beverage for 2.15 billion. the us is this part of the deal. monstera will expand distribution in the u.s. and canada. no surprise,ster, soaring in after-hours. jcpenney out with its earnings after the close of trading. the clothing store change hosted in a row where second-quarter loss, 172 million. a year ago, that loss was 586 million. jcpenney stock higher in after-hours. finally, sticking with retail, walmart reported stagnant same-store sales and cut its earnings forecast for the year. earnings will now be between 4. 5.15 per share, down from the previous range of as much as 5.25. for insight into walmart, jcpenney, plus to take a look at the old brick and mortar store compared with e-commerce, robert possikoff, the president of brand keys. and joining us from san francisco, katrina lake, the founder of an e-commerce site called stitch fix. robert, let's talk about walmart in jcpenney. what are the overall trends? >> the overall tren

su keenan is standing by. >> good afternoon.he spotlight right now is west texas intermediate as prices fall for the sixth time in seven days. brent crude falling to a four-month low, on this speculation that demand will peak as summer driving comes to a close. refinery activity has already peaked for the year and should continue to fall as demand tapers off. we are all nervous about tomorrows simply -- supply data. and with the drop in oil and gas supplies. meanwhile, the head of nesta oil, which gets most of its supplies from russia, says it has not seen any real impact from sanctions so far. from have some 65% coming crude from russia. we have turned that -- we could turn that if needed. there is an impact in transportation, not just because it is higher, but at the moment, we are speculating. let's see what is going to happen. reported they partly missed estimates. i've and a down day for metals. what is going on? >> with the exception of gold, which has been swinging between the forecastses, is for goal to reach $1400 by ye

in new york, su keenan. >> let's take a look. the head of asian and vesting. -- in investing.mingalk about events up. how important will janet yellen's comments be? we are not expecting any earthshaking revelations. not something we do not already know. tapering is on target, on schedule. and i think everybody will ofbably be looking for signs when they will raise rates in 2015. janet yellen is targeting the labor market. that is a very lagging indicator. these said will probably -- the fed will probably delay longer than most people think. >> it means they are falling behind the curve, right? >> that is it. it is hard to say they already are. signalst have any price anymore. usually the 10 year bond market will give you a good idea of where we are and where the fed is. is no longergnal an price because 10 year bond only by the fed about the bank of japan. we do not get any signs on that. what is also going to be interesting to see is what -- beyond the european economy which seems to be part of the eurozone seems to be in recession again. >> absolutely. it seems things are ge