. >>> a boost for telecom 600. >>> the backlash begins. the eu 13 billion euro tax fine for apple. >>> french economy minister resigns to work on his plan to transform france, but stops short of declaring he will run for president. >> hi, everybody. good morning. and welcome to show. >> good morning. how are you. >> lots to talk about today. >> a whole lot. a busy morning with regards to news flow. get on the bigger stories soon. as we start the show, european equity markets. you've seen a slightly mixed session in asia overnight. we'll talk more about that or hear from shri i somehow say. we're gearing up for payroll figure on friday. it seems like the corporate stories are coming back into the fray this august lull. it might be out there in terms of the actual liquidity that we are seeing thinner tried. doesn't mean we don't have big stories to deal with at the moment. plenty of them. when it comes to sectors out there, seeing quite a bit of buying into autos, insurers, banks in particular. banks up almost 2% this morning. >> that's actu

million through to the end of june, boosted by sales of telecom assets.efining margins returns from power and infrastructure businesses contributed to its first half performance. opening its first hotel in london if it clenches a deal to move into a historic building. tois the preferred bidder operate the office once owned by winston churchill. of deal also so the takeover the fairmont and swiss hotel brand. media group saying its bid for a german robot maker has been approved by the chinese ministry of commerce. after tabling a cash offer that thighs it at more than five billion dollars. it is supported by management. august 11 marks one year since the chinese shock to the violation, and leading currency watchers say stability comes at a cost. we are also getting today's fixing, aren't we? on thatstill waiting one. should be out in a few minutes. 6.6255 is today's fixing against the dollar. what a different day we have from this time a year ago when we saw that volatility and hit the markets. has drop since then, the pboc tamping down on the spread betwe

the french telecom company has proposed to its customer service employees. the communications giant wants to reduce the number of days off their entitled to -- they are entitled to. every year, these employees received 23 rtt days. they've offered a pay boost of 25% to those who choose to waive those days off. the union says it represents a blow to working conditions. working 23 days extra have to deal with the next 23 days of traveling to work, two hours there and back. who will look after the children? it creates a number of problems. other union members are less against the proposal saying employee choices key. >> it is voluntary. everybody has the option of keeping the old system come if they want. let's take a look at the day's other top stories. tencent has passed alibaba as china's biggest tech company. a 47% jump in quarterly profit. it's known for its messaging app which dominates the local market. a taxias shut down operator -- 700 employees could lose their jobs. said itime, the company would continue to operate separately. it faces stiff competit

maria: nobody expected telecom utility to be the leader of this market. anthony: and we are seeing very lax monetary policy. do you think there is a likelihood there will be negative rates in the united states? >> i think the u.s. economic growth is slower than history but it's not so slow we would see negative rates. we would need a bad situation. maria: we are just getting started. more to come. >> announcer: bill miller once beat the s & p benchmark index five years in a row. how kid he do that? bill miller pulls babt curtain maria: welcome back to "wall street week." we are joined by bill miller. you have plenty ideas for allocating capital. five years out, how do you want to allocate money. >> we are look at trading discount to what we believe their intrinsic value is. airlines, housing, financials, and scattered tech. but there is a wide variety of names. it's more important in this kind of market what you want to avoid, utilities, telecom and bonds proxies that are perceived to be safe because we had a 30-year bull market in bonds. i believe we are

maria: nobody expected telecom utility to be the leader of this market. anthony: and we are seeing very lax monetary policy. do you think there is a likelihood there will be negative rates in the united states? >> i think the u.s. economic growth is slower than history but it's not so slow we would see negative rates. we would need a bad situation. maria: we are just getting started. more to come. >> announcer: bill miller once beat the s & p benchmark index five years in a row. how kid he do that? bill miller pulls babt curtain esurance does auto insurance a smarter way, which saves money. they offer a claim-free discount. because safe drivers cost less to insure, which saves money. they let you pay your bill electronically, which saves postage, which saves money. they settle claims quickly, which saves time, which saves money. and they offer home and auto insurance, so you can bundle your policies, which saves money. esurance was born online and built to save. and when they save, you save. that's auto and home insurance for the modern world. esurance, a

maria: nobody expected telecom utility to be the leader of this market. anthony: and we are seeing very lax monetary policy. do you think there is a likelihood there will be negative rates in the united states? >> i think the u.s. economic growth is slower than history but it's not so slow we would see negative rates. we would need a bad situation. maria: we are just getting started. more to come. >> announcer: bill miller once beat the s & p benchmark index five years in a row. how kid he do that? bill miller pulls babt curtain i laugh, i sneeze... there goes my sensitive bladder. sound familiar? then you'll love this. incredible protection in a pad this thin. i didn't think it would work, but it does. it's called always discreet watch this. this super absorbent core turns liquid to gel, for incredible protection that's surprisingly thin. so i know i'm wearing it, but no one else will. always discreet for bladder leaks maria: welcome back to "wall street week." we are joined by bill miller. you have plenty ideas for allocating capital. five years out, ho

telecom down 3% for the week. energy up 3% for the week. new highs we've been hitting slightly deceptive in terms of what individual sectors have been doing. we're called lower 46 points on the dow. let's look at europe. had a strong day yesterday. tough week as a whole. finishing on a soft note. down around 1.5 to 2% for the whole. german down 0.7% today. asia has been mixed today and soft for the week as well. quite a similar story in fact to europe for the week as a whole. both had been strong in the prior week and prior month. this week taking profits. hong kong down. is a japan and hashanghai just above flat. energy up this week. because oil has been gaining and into bull market territory since dipping below 40 wti in early august and now up to 48 as you can see. just taking a bit of profit today, but 48.12. wti has had a strong run over the last couple of weeks. >> wilfred, that brings us to today's trade of the day on oil. crude nearing $50 a barrel. history shows that this rally will probably run out of steam soon. our team at ken c

maria: nobody expected telecom utility to be the leader of this market. anthony: and we are seeing very lax monetary policy. do you think there is a likelihood there will be negative rates in the united states? >> i think the u.s. economic growth is slower than history but it's not so slow we would see negative rates. we would need a bad situation. maria: we are just getting started. more to come. >> announcer: bill miller once beat the s & p benchmark index five years in a row. how kid he do that? bill miller pulls babt curtain on his investing strategy and reveals which stoke's betting on. d. bababooey! (announcer vo) sorry, confused neighbors, howard's on. siriusxm. road happy. across new york state, from long island to buffalo, from rochester to the hudson valley, from albany to utica, creative business incentives, infrastructure investment, university partnerships, and the lowest taxes in decades are creating a stronger economy and the right environment in new york state for business to thrive. let us help grow your company's tomorrow- today at busin

temperatu telecom is an agreement that was signed 22 years ago. the next president of the united states will find in my government an ally with the willingness to contribute a road to modernize telecom with a view to make it more effective in generating quality jobs, better-pay jobs in both countries. i do not believe that trade must be considered to be an effort that gives no results where for one to win the other one must lo lose. on the contrary, it must be viewed to generate value to both parts and makes our region in north america the most competitive and innovative in the world. as to border issues, my vision is very clear, the border must be transformed into an acid for our region. we have made great developments in the last few years working very closely together with the obama administration, and with the upcoming administration, we must fast track this effort so that border between the u.s. and mexico might become more efficient and safer. however, an important number of americans or united states citizens see the border as a great probl

staples, utilities, telecom. but what are they rotating into?s oil and has been tech. >> and consumer discretionary. >> yesterday the lead earls were staples, telecom and utilities. so i think it's one day on, one day off. i think people are still going to be searching for yield. today the story is oil. all the time. people looking hopeful towards that saudi meeting or that not official meeting. >> right. >> do you think anyone's cutting production? do you think anyone's freezing production? iran's not going to do it. these people are just getting back online. they're going to be pumping. i think oil is either flat to down. >> not buying this? >> i wouldn't. >> always valuable. thank you. bill? >> heading to the close here. here's the number for the dow right now. it's 18,595 and we are bell above that with a gain of 126 points. the s&p and nasdaq also in record territories. >>> valaent over insurance fraud hammering that stock. meg tirrell will join us on the possible troubles after this. >>> a strong rebound for stocks today after modest losse

dividends in danger, utilities, telecom to tech. stocks with popular and pricey payouts led markets to new highs think year and yields sit near historic lows. new questions about the strength of the economy, could this be a risk to your money? with us, joe terranovterranova,h brown and steve, and the yield let to utilities, telecoms, both up noorn more than 20%. people going towards the stocks. the question, is there going to be a potential cut in dividends. >> i don't believe so and utilities have ban great performer the last number of years. the hunt for yields is going to continue and the one-year to 1.48. look, in utilities, they're a special sector, because they're a regulated entity. they'll get enough to pay those dividends. see a massive recession, depression that will shut down terms of need for electricity and so forth. they can do fine. tickle the energy cost coming down. look at materials, however, stocks like php, i don't see how they maintain div gends going forwa dividends going forward. more worried about that. energ

telecom egypt will sign a deal for 4g.rities have set basic a september-- set 20 second deadline to pay for licenses. they say telecom egypt's arrival in the market will add to competition, and customers will benefit from better prices and services. iran invites international oil companies to submit aids in october. it is part of tehran's plan to receive billions of dollars to raise production following years of sanctions. they expect to sign three next month, worth a total of $10 billion. the big concern is iran's southwestern border with iraq. theo electric shares jumped most in a year after a politician opposed a restart of one of his reenactors dropped his election bid. the politician was against plans to restart the nuclear plants, which was the world's largest. by assays it profited much as $97 million a month. a prosecutor looking at bhp's disaster in brazil says he to propose charges by the end of september. the examiner is examining alleged negligence that may lead to charges of involuntary negligence. nine people

maybe this is in fact the time to step in. >> telecom, the sector, is really two stocks?> effectively. almost all have that issue common and chevron, obviously in t teleco. zpl i think verizon and at&t were two stocks that traded sideways. over the last six months, we have seen both stocks run up to all time highs on little or no news. the only news was interest rates were going lower. i would submit the valuation, maybe not that rich, but it's not cheap other, so i think there's more room on downside. i'm bull by the way, but i think the market will shoot first, ask questions later. >> if you were a bond bull, how can you not like stocks that are yielding more than the bond markets are and as far as how expensive they are, i'm trying to figure out what expensive is. with the bond market trading 13 time, probably going earn four bucks in eps. >> historically speak, i think they are expensive. given the norm for the stocks over the past ten, 15 years. i am a bond bull, but i don't think the rest of the world is is, so why i think they're going down is because the world is

telecom has until august 26 to prevent the block.may have been hit by a massive cyber breach that compromised usernames and passwords. a notorious gang of russian hackers also cracked a portal for companies using the point-of-sale credit card payment systems. it detected malicious code in microsystem microsystem and isg them to reset passwords. locking down exclusive rights to all eight harry potter films and the breath of j.k. rowling's wizard in world. the deal is valued at $250 million and could be the largest acquisition in the company's history. they get to use the harry potter material. and that is your business update. blair efron is one of the biggest you makers on wall street. he has advised including the gillette purchase and $19 billion. offersbal m&a perspective on pursuing deals. >> do i need to do something to either stabilize my portfolio or enhance my port taleo offensively within my sector? growth does factor in importantly. own you can't grow your business is much as you want them to, organic week, doing something i

and then telecom, telecom again is so dominant by verizon and at&t and ctl, century link.ery weak. it's a dearth of companies. >> the yield plays, utility and to your point verizon at&t which carry significant dividend, all -- both getting hurt and health care the end of the month, concern about backlash from raising prices and what would happen. >> tevin, mylan. >> mylan in particular. >> let's not forget, we're at a very unforgiving time for health care because they've had such great price increases. >> they have. i mean especially when raising the price of a device. that is the case with mylan with the epipen. the drug came off patent 30 years ago. epinephrine was marketed in 1906 so you know. >> these devices are dosing. when you try to make a compound, okay, say you go to a pharmacy and they make compounds, very few companies make compounds, very hard to find. in new york like four or five drug stores that make compounds. the question is you have to do the dosing yourself. so -- because they'll give you a hypodermic needle which has a plast plastic, you'll try to figu

utilities and telecoms the worst performing groups. like telecoms and utilities are down because bond yields are up. we tend to see an inverse relationship there. but the 10 year end to your yields up by five basis points today. this is a reversal of what we've seen this week. two-year yields up by five basis points today. the market is not accurately estimating the number of interest rate increases this year. seeing a bump up in yields following that. vonnie: what are the individual movers catching your attention? julie: comcast come as we are looking at the ratings from the olympics committee are not so great here. comcast down 1.4%. the owner of nbc, showing the olympics. we are also looking at emerson electric today, buying a valid anves and controls business. downgradedresearch the stock, saying it adds risk to emerson's earnings. also looking at steelmakers today. they were downgraded at keybank. down, u.s. steel and steel dynamics also selling up today. vonnie: time to check in on the first word news. trump praising paul manafor

once again we're seeing sectors on the weak side, utilities and telecom and staple names, telecom andties up fractionally. the important thing there has been a play around belief that rates would be moved up this quarter. so if you take a look here, banks have generally done better, particularly since their earnings came out in the beginning of july. they're up about 8%. we've seen utilities, telecom and consumer staples move to the downside. all of this is really dependent on the yield. particularly the two-year and also to a lesser extent on the 10-year yield. the 10-year from 1.3 to 1.55. a lot of people believing that would move up a little bit. that has stalled out. if they come to believe now that yellen will be extremely dovish, that's not going to go anywhere and move to the downside and all of these trades we've been seeing around the yield plays may well reverse problem for banks, good news for utilities. meantime take a look at a couple financial stocks. berkshire hathaway, biggest financial stock of all, broke to a 52-week high yesterday. other breakouts in the financial g

telecom and utilities up but fading very fast in the third quarter.erials and industrials have been coming up as well. you can see this in the sector leaders in august. i'm just to the month of august to date. energy has been moving upp as we've had oil stabilize around $45. tech has been a fantastic performer for the whole third quarter. financials are moving up a little bit although banks don't look like they have a lot of energy and as i mentioned industrials also. this is the rotation that we're talking about into the more cyclical names that have been going on here. meantime back to talk about lowe's for a minute and hope you heard all about it. here's essentially what everybody has been talking about. that is the differentiation between lowe's, same-store sales, u.s. same-store sales, and home depot. a very wide gap. it hasn't always happened but it's been particularly noticeable. on the conference call they were very upbeat and talked about home improvement spending, outpacing overall consumer spending. we know about that. that's been a main dr

on the more 21st-century style of infrastructure, they say telecoms and semiconductors could benefit.companies that make turbines, if we had that kind of tax credit an incentive to do more in that area. matt: you see borrowing and -- boeing and others, you mentioned telecom, at&t. , there motors and ford bank ofompanies that america is saying stand to benefit the most. end ofntially from the the paper spectrum is has not been a one-way ride up. to industrial lead markets could involve a lot of volatility. >> when the line goes down, utilities are underperforming whereas when it goes up, they are outperforming. that's exactly it. i spoke to one of the co-authors and he said the real action you might see is a leadership change in the bond market. market. this would be a government taking advantage of that, and that could undo that yield rising the next of higher growth and inflation. >> obviously there's a lot of debate about whether it's possible to get fiscal stimulus out of washington given the -- given the gridlock. are there other places in the world where it's more likely the poli

utilities going telecom, ples.mer stat mike regan is covering stocks for bloomberg gadfly. change in're seeing a leadership, as julie was just explaining. people believe the market will continue? hard to say. earlier in the year when united utilities and industries such as real estate investment trust an quite wellly doing and brought the market to the precipice of another record than we had the brexit risk-off sentiment. settled, it has been the cyclical technology and commodity companies leading the way. big selloff in the defensive which is interesting, too. that is allowing us to churn higher. inch by inch we're getting there. as every day. -- new highs every day. the economy looking that good to be cyclicals for the longer-term? shery: could be an of this rotation mean we could see a breakout from your? michael: that is what people wonder. the range has been so tight market as a move more than 0.5% except for a couple days the last month. are on the edge of their seats saying higher, lower? 2200 might cause a little bit of applause in the s&p. for whatever reason, roun

telecoms are very interesting at the moment. the retail sector looks interesting. we are undergoing financial consolidation so banks obviously we've seen other levels. we think that will continue to move forward. again a majority government owned bank is moving at 6% of the moment. that is particular attractive to us. so those are some of the names we're looking at the moment. yousef: thank you very much for joining us. some breaking news the terminals. second-quarter net coming in at 6.6 million. that was similar to one year ago. the gross revenue coming it $96 million versus 100 and $16 making a few comments from the chief executives specifically related to the that intends to resolve the contract issues that the been bogging down largest list of natural gas companies in this part of the world is another branch mark to faring inmpanies are a time of lower prices for much longer. we will of course break this down later on. rishaad: turning bullish with certain emerging-market analysts that become much more optimistic. this is bloomberg. the second-quarter net was

telecom and materials laggards today. >> i want to talk about nordstrom's. there has been doom and gloom around retailers. this morning, a disappointing piece of retail sales of data. however, look at what has happened to nordstrom's. this is on the back of a better-than-expected second-quarter report, reporting $.67, $.10 better than analyst anticipated. nordstrom's has been able to reverse some leakage to places like amazon by stocking its rack with more attractive merchandise. they held this big promotional event, anniversary day. we should look at the major health insurers. these stocks have taken a beating since before the doj announced it would block mergers between anthem and cigna. have recovered a bit today. indication that they might the willing to make concessions to allow consolidation happened. joe: on the government on front, yields lower. policy sensitive to year yield. you saw expectations of a fed rate hike a decline. bottom line, lower yields. >> let's talk about the dollar. we have seen dollar weakness. there is a growing expectation that

telecoms and materials are the laggards. today.aterial store the s&p 500 and the nasdaq pulling away from the record highs. the nasdaq is 50 to 53. off about 10 points of record high from there. 2487. to show you areow you this because we in a time of not only low volume but low trading ranges. the last move was 32 days ago. we are at .22% right there. the dog days of summer in august and we are waiting on the sidelines until jackson hole happens this friday. let's look at more commodities. off 2.8%. i was telling you about crude oil, rising 2.5 million from the , the biggest jump in 16 weeks. let's take a look at metals. this is all about the dollar, strengthening for the fourth time in four days. it is an oversupply in terms of copper haired 200 and $10 and a little bit of change. david: thank you. let's check in this morning. nina has the latest. >> about 27 miles from the town. in the collapsed building. turkey launched the biggest operations can islamic state to syria. u.s.are being assisted by operation forces. air force is t

. >> cable and telecom now on a mission to block block mobile call. comcast and verizon are among the dozens to head a robo call with more control some not call registry twitter is also trying to provide more control for their users. if you don't want to see notifications from everyone you don't have two to users can limit from the pieces people they follow. you to turn on. it can be used for blocking harassment and another couple tool is the quality filter that will filter lower quality content or duplicate or appears to be automated. >> a grandmother is heartbroken after a photographer does not show up. now she turns to problem solvers after months of delays where it was critical. >> the showers are moving away, but the cooler air is just now moving in. we talk about how low although the temperatures go and the broadcast for the >> they say they plead for a portrait session in the owner never deliver they reached out to problem solvers with stadium to try to get some help. >> six -month-old mcdaniel was born with a rare brain disorder. >> they told

of what hasat a lot driven s&p 500 returns, it has been the telecom staples, the telecom stocks. think there is a lot more duration in investor portfolios than they realize. let's get to your thesis -- investors are showing diversification at exactly the wrong time. you are a bit of an outlier making that claim. >> yeah, this is not too dissimilar from the late 1990's. a lot of people were chasing had hadwith stocks that absurd -- upon reflection absurd multiples.evenue there has been $60 billion of inflows into fixed income. whenis coming at a time yields are at or near record lows across the curve. if you look at fixed income, where is that investment going? fixed bond funds, core bond funds, municipal bonds. investors have a false sense of security, oh, i am diversifying because i hit a couple of these categories, but if you look at the correlation, the correlation are all .8 or .9. you are not that diversified. they are just giving you various degrees of rate exposure. david: i will put that charter. these are flows into alternative anything basically going negative. what doe

telecoms, utility companies. fairly safe companies. telecoms, utility companies. vonnie: russ walker, senior u.k. economist at rbs. we are looking at 131 and change. pound after that announcement. bloomberg exclusive, brian moynihan, ceo of bank of america, talks about the different between u.s. and european banks and what should be done to recapitalize italian banks. ♪ mark: live from london and new york, i'm mark barton. vonnie: i'm vonnie quinn. it's time for our bloomberg business flash. the european union is cracking down on cheap steel i imports. 36% on as high as chinese and russian producers of non-stainless steels. fairly undercut european steelmakers. a truce between one of the world's largest rick and read -- brick-and-mortar retailers and its chief online rival. to bring them back to stores. target quit selling the devices four years ago. the chant thinks -- the chain thinks amazon products could give its electronics business of used. -- a boost. berkshire hathaway over one of its biggest holdings. , whether berkshires investment violates the rules for

telecom, utilities, et cetera.view would be just that the market unless -- in you think that there's a recession coming within the next couple of years, i just think you want to be very careful in terms of where you allocate money. when you do have bear markets and bear markets occur during downturns. i would be more cautious. yields go lower. dollar probably strengthens. gold does well. we haven't talked about them, but they're close to their lows on the year and that's not where you want to be if you think the economy is vulnerable to a negative shock. >> does the fed have to embrace quantitative easing and rates again as we saw in the uk. >> i don't think the fed goes far. if they're lucky maybe one more hike in this year. that's been my view. to sara's point the data has looked better. the fixed income market is saying the terminal feds fund rate is not much above 1.25. they have the terminal rate at 3. i think bottom line is we're going to be in a low interest rate world for a while. if there is a recession we

for those of you i have had opportunity to meet, i'm alison telecom chief of the consumer and governmental affairs bureau. a major part of my work is to help consumers stop unwanted robocalls and that's why we are all here today. i'm delighted you could join us. we are pleased to be able to host the first meeting of the robocall strike force, an industry led group that has come together in response to chairman wheeler's call to give consumers better tools to stop unwanted calls. i look forward to working with you in my role as the commission's liaison. this morning to hear from several speakers about the importance of protecting consumers are more annoying and often fraudulent mobile calls. first chairman wheeler will speak about the steps the commission has taken to tackle this problem in ways the strikeforce can support this effort by delivering effective solutions for consumers. commissioner clyburn and commissioner pai will then provide remarks and then at&t chairman and ceo randall stephenson will conclude today's meeting. thank you again for being here this morning, and that will tur

in the tech and telecom bubble, there was no s curve. we didn't have the right technology to make the cloud happen, to make mobile advertising happen and online retail happen the way it is now. so we think we're just beginning. when we're only 16% in mobile advertising, it has a long way to go. so we're very excited about where we are. emily: john, hiring can also be symbolic of euphoric trends or lack thereof. it's interesting, i have heard from folks at google and facebook that hiring has actually slowed down because all of the good people are taken. there is this land grape for people, the good people between facebook and google and airbnb and uber. have you heard anything to that effect? joe: there is a counterpoint. there has been a lot of tech m&a this year. you have linked in, you have neck suite. when there is m and a, that tends to shake things loose. i don't want to work for eye bigger company that is going to slow down. i want to work for a start-up. the m&a that's actually red hot in the tech sector does mean there are a lot

the staples, telecom. i think there's room for those stocks to move lower. given that extreme position. positioning can push things around here m i think the defensives continue to move lore. seen what's dpoipg on in health care. bio had a lull. mi lan going under pressure. going into the election season. people like technology more immune to macro, so tech in the world of low growth, tech and growth is a good place to be. >> probably time for carol burnette show. seriously, it seems as if what you're talking about could be another opportunity to buy this market. if anything wha i'm saying is a character change in emerging markets. >> talking about a character change, the tiger doesn't change its stripes. i've heard about a -- the dpraetest opportunity is when nobody wants to buy emerging market, not when it's the second most inflows of all etfs. i think this has pushed people out to the cap of the risk spectrum, if you will. i think you're going to have a hard time. bringing the fish back home when that perfect storm hits. >> this is lost on you. george clo

. >> reporter: but if board members telecom miewrkts the public doesn't get the opportunity. >> we want to make participating more flexible for those who might have a sickness >> reporter: some have done it already. one member called in july 1st and another called in on may 16 but he also messed two other board members since january. >> he's a busy man, busy community organizer and trainer. so he's missed a few board eminem meetings -- b there are things that aren't public. he's been doing some of the work. >> reporter: if approved, telecommuting could be used only three times in the calendar year. >> we don't want this policy to be used all the time. >> reporter: one more thing about the policy. acceptable forms. steve sbraccia reporting. >>> next month raleigh firefighters will put up billboards to protest low pay. they've been protesting for months over pay. they're currently raising money to put up at least four billboards. they're also planning on putting up advertising on city billboards around town. >> each month that goes by, the pace picks up because they cannot afford to suppo

the sec could do anything it wanted over any form of communications under section 706 of the 1996 telecom act as long as they came up with some story about why that would promote broadband. that was the first sweeping claim of authority. as you said when the courts decided that case, the verizon decision came down, the agency could use that form of authority to issue new net neutrality rules. instead he used that authority plus referring to title ii, the provision of the 1934 act that was used to regulate the old ma bell telephone monopoly. >> there's a little more to destroy the net. the other thing was the court said you could not enact anti-blocking rules. you could not enact the anti-throttling rules without reclassify. it wasn't the case the condition of the opportunity, send the reenact the rules they want to. they had to reclassify. >> this is really important. much of what you said is accurate, but the part -- that's a lawyer's perspective. >> isn't that what the courts are deciding how? >> in part. the point you keep giving us to is, was this necessary? to the fcc have to invoke

>> for telecom generally when oil prices rise, you have gas prices rising.may brie deuce the demand fort -- reduce the demand for gasoline and autos which can interfere with connectivity in your cars like gps systems and also may pull back on the mobile device usage in things like parking facilities. so that's how we attribute the loss in telecom to the oil price rise. >> just in terms of playing the stocks within the energy sector right now, how would you be positioned? what's the way to take advantage i guess in a leverage twids that higher target you for crude? >> the name of the game is operating leverage. this is not the time to be defensive. time to be defensive was when oil fell from 100 to 30. too late for that now. so companies that have the most operating leverage to oil recovery, they can be enp companies like marathon oil or pioneer natural resources or they can be service providers. the drillers that are going to benefit from rising capital budgets and, therefore, rising rig count. but it's definitely not the time, you know, to play the most def

right now and washington the biggest tech cable and telecom company working out ways to block them apple google microsoft comcast and verizon are among dozens of companies strikeforce meeting and washington the group and the fcc a working to provide customers or control. the number one can say at thursdays from consumers. our charity crated by mark zucker bird is giving its first infusion of cash from the facebook founder a measly 95,000,000 dollars he donated some of his facebook shares to the chance initiative back in december according to the s ec the group may 95,000,000 dollars selling though shares this week the charities for profit organization stated goal is to advance human potential and promote equality for all children and the next generation. promise you give the group 1,000,000,000 dollars worth of shares each year the next three years 1 billion minus 95 million. anything but quiet what one local politician has been quiet. about his upcoming race. look at the devastating flooding they'll allow left the navy days to go before the election thanks for staying with us. there is

will find in my government, a partner willing to build to modernize telecom so it becomes more effective and to generate more higher quality jobs and better paying jobs in both countries. i don't think that commerce, a zero sum game so one wins and the other loses. on the contrary it must be an effort that generates value to both parts and makes our north american region the most competitive and innovative in the world. with yards to border issues, i have a very clear vision. the border must transform itself as an asset for our region. we have had great events in the last few years, working very closely with the obama administration. and with the next administration, we must accelerate this effort so that the mexican and united states border is more effective. however, a large number of u.s. citizens chase the border as a real problem. illegal drugs cross the border to the u.s. undocumented immigration from mexico to the u.s. had it's highest point ten years ago and it has slowed down consistently, even to the point of being negative in a net effect at this point. even so, we can -- we k

the utilities, and telecom and consumer staples.elecom is a small part and even ultsties of the overall market but lagging interest in those as we've seen more cyclical groups move to the floor right now. what hasn't been working? we've been waiting for banks to work for a long time and other than a very, very brief period you see that little blip up there, in the beginning of july, that's when the early bank earnings came out like jpmorgan. there was a flurry of interest at that point but as rates remained low, we've really seen nothing going on with the banks. just call them a group moving sideways right now. so there's your market check. want to talk to our very interesting bell ringers today because shopfy had its sixth annual build a business competition making things happen in small amounts of time. the five main winners. we've had thousands apply for this job here. let's just talk a little bit about what's going on. assad, talk a little bit about what's going on, assad seddic of i segway. you build hoverboard products. tell u

it was so basic, that any telecom lawyer -- nobody cared. the fcc had to flip, change its course, without issuing any order and write this order. doing a hodgepodge job of this, and opening the door for other concerns notice future to arise by virtue of changing their approach to net neutrality, and title 2, and also invoking forebear reference. this is into the stable foundation for regulating the internet. it will have unintended, consequences. congress has to stop it. >> so, we've gone into a lot of the weeds of the substance. i want to take us back to the case at hand, and i just want to the remind us all, that, the appeals process, moving forward is not about the substance. it is about the process by which courts review agency action. they're really important questions here, there's a lot of interesting stuff going on, in the supreme court. that's what will get this to the supreme court. will nobody think of the courts. >> i want to make it clear that at least from my vantage, i'm not arguing about net neutrality. protections need to be

. >> i think it's inar a broad segment of market today and it's not just about utilities and telecom and more traditional yield oriented sectors and you know, with microsoft recently i think investors have had a nice opportunity to buy it below its highs. now, this is a market environment where we've been very close to all time highs. yet when you look at individual stocks like microsoft, you've had moments of opportunity to do that. has an opportunity particularly in the commercial cloud area to really drive growth and free cash flow. >> a stock that yields 2.5% compared with 1.5 you could ar microsoft has a better balance sheet than the u.s. government. your thifi plump dividend yield about 3.5%, 3.4. >> there, i think again, it's a company specific catalyst that the management team is very focused on trying to drive strat options with their business, but also ultimately, it's a business that we think over the next several years can generate just a substantial amou with once again, a very strong balance sheet and and opportunity to kind of deploy that free cash in a balanced matter

telecom fizzling down 1% as companies spend more to spandex works.akes the yield heavy less competitive with a fixed income investments and down 3.5%. back over to you. >> been a bit of a rotation. landon, thank you. >>> jet blue air ways is set to make history today. carrier will be the first to launch regularly scheduled flights from florida to cuba. start at $99 one way. speaking of airlines, don't miss jim cramer interview. tonight, 6:00 p.m. eastern time. this comes after the announcement of an executive shuffle over there. president of american airlines group was let go on monday will take up the same senior role and rival united continental. get more insight to what the move means on the company. the sector in general. >> comes off the back of united pilots being arrested. >> dubai t city that already has the world's aalles tallest build luxurious hotel is adding another to the list. largest indoor theme park. size of 28 football fields. it's called img world adventures. features rides with characters from cartoon network and disney. governmen

you mentioned another on today's news are starting to see the benefits of the underinvestment, the telecoms, verizons of the world are trying to repair and restore communication . trading at just 13 tim earnin against a multiple of 17 times. above market dividend yields. >> thank. >>> coming up, the big weekend for sports. and a big hello on one coast and a big good >>> more big earnings for next week. here's a lk at what to watch. home depot reports quarterlies. wednesda cisco, which we just mentioned, out with earnings and thursday, it's walmart's turn. what the world's largest retarial says about the consumer at what the watch next week. >>> the wait is over. football is finally returni to los angeles. and it could help the nation's second largest m jane wells calls the p >> it's been over 22 years since los angeles ha and 37 years since the coliseum was decked out in rams colors. but the southe >> never. >> wide receiver kenny brent may not be nervous about the pres lot of other people are. >> pressure on me every single day. but i never in my career looked over my shoulder. k years to

as far as i can telecom paired to this time last night, we're in a much better place. let's even say it gets organized down the road and impacts the west coast of florid it would still be close enough that it really wouldn't have an opportunity ramp up. the other thing is percentage of development has dropped 10% from the last time that the hurricane center put out an advisory. another one set to come out at this is the reason why. there's your low center. there is really th it. if it continues to move west, then all of a suddenou're looking at it interacting with cuba, which would cause it to dismiss any possibility of getting its act together any time soon. as far as i'm concerned, we could get rain out of this early next week. at this point, i don't think it will be a major deal. the issue would be if it went into the gulf. not for us, but the northern