tim seymour stepping up to the plate. much more "fast money" right after this this is a story about mail and packages. and it's also a story about people and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business the united states postal service. priority: you you mighyour joints...ng for your heart... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember. roundup for lawns has arrived to put unwelcome lawn weeds to rest. so draw the line. roundup for lawns is formulated to kill lawn weeds to the root without harming a single blade of grass. roundup, trusted for over forty years. show me the billboard music awards. the billboard music awards knows how to party. [ cheering ] what up, dog? show me top artist. unbelieveable.

i want to bring in cnn presidential historian tim naftali. tim, first, you'r reaction. i'm sorry, tim, i'm being told this is a live picture from the oval office with joshua holt, the young man imprisoned in venezuela who he was freed today and brought back to the united states. we'll take it to the oval office now. >> we have, as you know, josh holt and his wife tammy. they came back from a very tough ordeal in a venezuelan prison almost two years, josh, and, you know, amazing that you were able to take it. your daughter marion is here and your parents, jason and laurie. and you went through a lot. and you were in there fighting all the way. and i want to thank bob corker, great job you did over there,

tim: i don't think so quite yet. the main part of italy, the facet most important is the country cost sovereign market -- country's sovereign market. it is huge. it has added a big swing. europe is growing reasonably well. we emerge news as from a cold winter is that wages are going well in the public sector and private sector. there is no reason for the european economy to significantly wobble at this time. on that basis, they should be continuing their plan to produce bonds.cease i don't think they should derail from that plan. manu: one of our clients, guests, he said, bear a couple of numbers in mind. 920 3 billion is what the bank has built up over the past four years. they are the biggest loser, 442 billion euros worth of italian etb. spain is marginally behind, at 381 billion euros. shouldn't the ecb make sure these areas don't get out of hand? have made a substantial gains over the years since the market to market losses. classesook at the asset of 2018, it has been the european government bonds. maybe not it

tim: it certainly could invert.hink if it inverted in the short term over the next year or two it would because the is a concern necessarily about us having a recession next year or the year after that. i think it has more to do with the fact that if you look around the world, long-term rates in europe and japan in particular are much lower than they are here in the u.s. you could argue whether that makes sense from a risk return standpoint. i think that is what is keeping a ceiling on longer-term rates. you are seeing the yield curve flattened out just a little bit. if the ten-year treasury is at 3.1% today, where do you figure it peaks? tim: i'm not smart enough to know. we have great people at this company that are thinking about that all the time. could i imagine us seeing a 10 year at 3.5% or 4%, sometime in the next 6-12 months? absolutely. significantpretty backup of almost 50 basis points just in the last few months. if you believe that economic only in the u.s. but around the world, will continue to increas

we saw of course [indiscernible] apple ceo tim cook. new season of the david rubenstein show in june. coming up, much more from boston. we will discuss the thriving occupation seen with the president. ♪ back to awelcome special edition of the bloomberg tech, live from boston. one thing that makes this sound out -- several of the top tools in the country a right here, some of the biggest companies in the world. [indiscernible] university,t of the here. >> fabulous to see you. caroline: how are you ensuring the next generation is set up, ready for the age of technology? gloria: too many schools believe it is either hard skills or soft skills, and, not or. we try to merge liberal arts with a type of business skills that we know they will need from day one and all lifelong learning skill. every job is a vibrant job. you will need a combination of things. you will need technology prowess . you will need to think about a future in which you will constantly have to be upgrading your skill set because the jobs you want today will evaporate. you

buying tim's pitch for aphria.market side in neyo ctiw rkity me square. do not go anywhere. much more "fast" when we come back. >>> welcome back to "fast money." check out shares of qualcomm getting a boost. and that has one trader betting on an even bigger rally ahead. >> there's a lot of activity in both the calls and puts. there's one trade that caught my eye when the stock was trading about 56.80. a trader sold 9,000 of the july 50 puts and used the proceeds to buy 9,000 of the july 65/60 call spread. and by selling the puts down at the 50 strike level they're willing to buy the stock down there. we have a couple quick charts. look at the one year chart. the thing has had a nice bounce over the last week. if you look at 65, that was a breakdown level a couple months ago and it looked like this deal wasn't going to happen. this is a good trade risk/reward. selling the 50s, buying in the 65. >> i love when you see a trader coming in willing to sell their downside. i'm with you. >> call spread risk reversal there.

since the ipo >>> plus, a top institutional investor argues mark zurk ckerbg is not playing fair, and tim draper will join us. i'm kelly evans, and "the closing bell" starts right now ♪ >> isn't fresh record redundant anyway >> it is >> fresh record. >> it's a good point i said fresh high twice. >> fresh record. for one of them. >> anyway -- >> welcome, this is the "closing bell," all those stories in a moment, but check on the markets. stocks posting a rally, dow up 252 at the high, and up 222 now, gains for the sixth straight day. >> criticizing the prerecorded open, your microphone was like this a little bit. >> it was really perky >> we'll get it spot-on one day. the s&p and nasdaq on pace for the best closes since march the 16th healthy returns as you can see there. we get to bob pisani watching key levels in the session today. bob? >> we broke the down trend, but not as uptrend yet we have been talking about this all week, breaking that down trend. this is what we are talking about. right here, suddenly, we are out of that territory. we are out of that down trend territory. this is

i did just get off the phone with apple ceo tim cook.n general, around concerns around the iphone. he said it was the most popular iphone. the first time since we flipped the line with the iphone 6 and 6 plus that the top iphone has been the best-selling. i think it is an incredible result if you think about it. do you have concerns about dropping? >> i would not be concerned. for a number of reasons, one, smartphone adoption in mature markets is plateauing. these devices are very expensive. more and more like buying a pc but the upgrade cycles are slowing. it is harder to convince consumers to upgrade their phones every two years. so i think it is in line with what my expectations would be. the reasons to upgrade my phone are becoming more and more subtle. less and less about the camera and the screen and the nifty features and more about the subtleties that artificial intelligence fueled. emily: i asked him about dropping, and he talked about how our last letter to this quarter, they take out inventory and that is often at a higher pri

tim cook tells me india remains a big opportunity.to focus on it greater china. 21% over year-over-year growth. rate in years. services also had a great quarter in china. and the iphone has been the best-selling smartphone for the quarter. alistair, what do you think of them continuing to post the strong numbers in china despite headwinds we have seen over the last two years? alistair: i think it is all about the broader array of iphones they sell now. and the iphone has been the best-sellingthe iphone x did not of the ballpark. the price concerns, with $1000 price tag, that is particularly important in countries like china and india. saying they iphone, will have a new version of that, the cheapest iphone you can get. there is even going to be maybe three different types of iphone c x's.cheapest iphone you can when you look at the average selling price, this quarter actually felt quite a bit. what is happening, especially in these other countries, people are buying the slightly cheaper iphones. still great for apple and great for the

when we come back, my interview with wells fargo ceo tim sloan. stay with us. >> the wells fargo ceo is hitting back at critics. >> most don't know anything about the company and candidly don't know what they're talking about. >> he tells maria a lot more than that when "wall street" returns. n do it with what's already within me. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. next week, wells fargo will hold on investor day for analysts on thursday. investors want to know when rev will stabilize, growth might resume. management are touch on returning capital to shareholders as well as where expenses stand. the ceo and cfo have committed to lower expenses in 2019 and 2

tim? >> so this one i don't think will make you cry. move today, stay in this one. ewz. >> i listen to this all the time now actually, every two weeks or so that's okay. i'm sticking with xerox. i think there say lot of ways to win and hopefully not too many ways to lose. >> seeburg >> i'm with facebook, buy the stock here, 20 times 19 numbers. they're growing earnings next year 22% that's light i would be a buyer here. >> grasso? >> overstock has been as low as $20, as high as $90, base at 35. overstock, buy. >> i'm melissa lee thank you for watching see you back here at 5:00 for more meantime, "mad money" with jim cramer starts now. >>> my mission is simple -- to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now [ applause ] hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. and i actually have some with me tonight. [ applause ] i'm just trying to make you some money. my job isn

a complete multiv babybel. your family can m 12 defendath of tim piazzastrategy.atest.nia di attorney who t vaharges that were nst five of . at frat se. shapirs charge of involuntary was too lateter find s iightubl could humane.t. >> i feel like tororevent,what' required for involcharges, theyy ould be charges.t ones. >> e are tryiwhng to ensureese fi oft apht on the at the pro >>s, thatry and, yes, we've use, prget even more involunt we're being en wted the think in the end they'll appeal abrams, thanks ver abrams, thanks ver thinking ceo tim cook.thonase y block one. 6 is greater than 1. this changes everyth d star allergy e. get a suns ng.she sa it.ktenwald seem warning her resting heart minut was that i was out of breat mae er.functioning at belers pe. apple's tae tim cook.ransplan >> iail hwrite on twitter, sto li every day.fe and now claim to detecapnea, re if theon a. >> it keeps tran see your histo. g s ays kn they hat the teen i opening june 30th at the w the day you can s strong chemohospitalization. neulas reta ul do npttaured spleen,ominan oif you'd rather be homn hg givec

tim: it certainly could invert.not think that is a -- that if it inverted in the short-term over a year or two would be a concern that we have a recession, i think it has more to do with the fact that if you look around the world, long-term rates in europe and japan in particular are much lower than they are here in the u.s. you could argue whether or not that makes sense from a returns standpoint, and i think that is what is keeping a ceiling on longer-term rates. so you see the yield curve flattening out a little bit. but if that happened -- erik: why do you think that is? the 10-year, the 10 year treasury that 3.1% today. tim: i am not smart enough to know, erik. erik: you are risk managing your balance sheet. tim: we have great people at this company that are thinking about that all the time. could i imagine us seeing a 10-year at 3.5% or 4% sometime in the next six to 12 months? absolutely. i mean, we have had a pretty significant backup of almost 50 basis points just in the last few months. and if you believe

apple's ceo tim cook spoke with josh lipton just last night.sh lipton, what did he tell you about the business >> ahead of therapyings repo ss earnings report, investors were looking for what was happening with the iphone x. tim cook says the iphone x is his best seller, telling me iphone x was the most popular iphone each and every week of the quarter, that's on top of last quarter it was almost the most popular iphone each and every week since its launch cook delivered better-than-expected q3 revenue. i asked cook about trade tensions with china where he says he remains optimistic i think china and the u.s. have this unavoidable mutuality where the u.s. can only win if china wins, and china can only win if the u.s. wins. a potential challenge for apple going forward that some flag consumers are holding on to their iphones longer in some geographies. cook responding the most important thing is the iphone active install base has been growing double digit and is still growing double digit, including in the quarter we just finished cook is saying

tim: it will be.is business who wants to make money will realize you need to get it from services as much as hardware. rishaad: we're going to bring in our guest now. thank you very much for joining us. this, onour take on apple? clearly it was not the cycle we all expected but by all means i would not say things were not good. it is probably not what we with the -- i think it could possibly be a super cycle spread over two years. rishaad: tell me something, what i've been discussing with tim is what these tim -- chipmakers are saying about all this. what does that fit with what is likely to happen in the current quarter. ? it how phone sales are going to continue to go? tim: exactly. rishaad: sorry. chipmakers, you just hearing from tim, with the chipmakers were saying, how that fits in with the court quarter and what you believe is going on in the current quarter given what those companies have mentioned. the overall think smartphone market is slowing down. --markets they are going down. getting mor

tim o'reilly is the author of this book, wtf:what is the future and why it is up to us. the use of wtf. is it used as an expletive? >> it is a little bit of both. the think that is so wonderful about the expression is remotely sad when we are dismayed but sometimes when we are amazed. the future technology is bringing us has given us a healthy dose of both dismay and amazement. we have a lot of choices as a society about which of those is going to dominate in our future and that is what the book is about. >> from your book everything is amazing, everything is horrible, and it is all moving too fast. we are moving pell-mell to a world shaped by technology in ways we don't understand and have many reasons to fear. >> absolutely right. the news for example book and l theme in what we have to come to groups within our society. at the same time we understand that these powerful tools can do a lot of good. what we have to do, how do we hold our businesses to account and how do we apply these tools to the right kinds of problems rather than just using them to manipulate people?

tim muffett reports from cambridge. this is an uplifting story.ing that dominates the cambridge skyline and which contains one of the world's most remarkable collection of books. hello, mark. hello, tim. welcome to the tower. 140 feet above cambridge city centre. the tower contains close to a million books. since 1710, cambridge university library has by law received a copy of every book published in the uk, but many were not deemed to be of academic interest, so a tower was built to house them where they could be stored and largely ignored. the tower was built in 193a, designed by giles gilbert scott, who is better known, i think, for the red telephone box. the whole point about a library like this is we're not making judgments about whether things are significant or interesting. the stuff was published, we acquired it. and there's just this mad diversity of stuff. there's school textbooks about trigonometry, there are storybooks, there's stuff about naval battles. there's a book from 1914 about life insurance, something about field sanitation, t

maria: our thanks to tim sloan. don't go anywhere.street" right after nick was born to move. 3 toddlers won't stop him. and neither will lower back pain. because at a dr. scholl's kiosk he got a recommendation for our custom fit orthotic to relieve his foot, knee, or lower back pain, from being on his feet. dr. scholl's. born to move. running a small business is demanding. and that's why small business owners need more. like internet that's up to the challenge. the gig-speed network from comcast business gives you more. with speeds up to 20 times faster than the average. that means powering more devices, more video conferencing, and more downloads in seconds, not minutes. get fast internet and add phone and tv for only $34.90 more per month. comcast is building america's largest gig-speed network to give small businesses more. call 1-800-501-6000 today. say carl, we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh. and i was wondering if your brokerage offers some sort of

maria: our thanks to tim sloan. don't go anywhere.ore "wall street" right after with this clever little app called audible. you can listen to the stories you love while doing the things you love, outside. binge better. audible. ♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪ it wi called usaarst and the first thing they asked was 'are you ok?' they always thank you for your service, which is nice because as a spouse you serve too. we're the hayles and we're usaa members for life. big i vepts coming up in the next week that could impact your money. monday, data on consumer credit will be released, the start of a big earnings week. tyson foods, cisco and hertz reporting their quarterly finding. tuesday market movers like the nfib survey will be on the docket. we'll get the latest earnings from walt does sni, wendy's and mayor yot wednesday, the consumer price index, always closely watched. also wholesale trade out in the week ahead. in terms of earnings, 21est century fox, roku, hostess and home depot

emily: apple's tim cook on the call right now. we are listening in. want to talk about services which grew 30-some percent. obviously, powered in part by apple music. we talked a little bit about how he thinks the real competition is not spotify or any other music service, but it is convincing billions and billions of people to pay for a subscription service. they do have 40 million subscribers in trials. julie, what do you think when you look at the services numbers and break them down? julie: the services revenue is up 30%. looking forward, and we look at the notion that smart phone sales will plateau, apple has to look to their other products for growth and to services. i think it is very solid growth of a small base. we will also see the peak in the near future, and apple will have to look more to its services and subscriptions as well as things like apple pay for future growth. i would expect that number to get much bigger over time if apple is to sustain its growth. emily: that was julie ask and tom giles. twitter and walt disney have signed an

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tim?k about the roller coaster u.s. steel has been on obviously rallied substantially into the announcement 232. got a boost that day and then traveled down 30% because people remember a couple of things. they remember the bush steel cuts on tariffs and what happened to steel companies. and the assumption is it's kind of like how they treat the airlines they assume give them an inch, or give them a mile, they'll hang themselves with that inch, however you want to say this these are guys that haven't been trusted with capacity. meanwhile, fundamentals in steel sector are fantastic right now and i actually think u.s. steel is a buy without that it's a buy with this news and i'm long the name. >> it sure does help we did see that paper. we were talking about a.k. st l steel. well talked about it a minute ago. but that, cleveland cliffs and u.s. steel option paper that means shorter term people are just looking for any kind of a bump maybe this is the kind of bump they're looking for. if they

maria: our thanks to tim sloan. don't go anywhere.ore "wall street" right after it took guts to start my business. but as it grew bigger and bigger, it took a whole lot more. that's why i switched to the spark cash card from capital one. with it, i earn unlimited 2% cash back on everything i buy. everything. and that 2% cash back adds up to thousands of dollars each year... so i can keep growing my business in big leaps! what's in your wallet? big i vepts coming up in the next week that could impact your money. monday, data on consumer credit will be released, the start of a big earnings week. tyson foods, cisco and hertz reporting their quarterly finding. tuesday market movers like the nfib survey will be on the docket. we'll get the latest earnings from walt does sni, wendy's and mayor yot wednesday, the consumer price index, always closely watched. also wholesale trade out in the week ahead. in terms of earnings, 21est century fox, roku, hostess and home depot. thursday, the consumer pries index is out. inflation watch. the treasur

they did say this quarter is going to roll over when you speak with tim.im wanted to talk about to the services and health care and don't forget, they can -- what a holy grail app, if it had your health care information dr. oz was speaking earlier. he showed me what the design is going to be. he's an eagles fan we spoked a the super bowl. >> it explains why apple is taking pains to say we're not selling you. we're selling a product. >> they do not sell you. facebook, i mean, look they are a company that sells a phone. they're not a company that sells your name. by the way, facebook, according to axion finally hired outside counsel. >> is it paul weiser >> they don't listen about everything that bugs me i gave him a silver platter apologize, apologize, apologize. hire outside counsel to get verification they didn't go with me they went with ted wells that's a mistake. >> we'll get your take on yesterday in a little bit. snap oh, down on the premarket. dau revenue and guidance below consensus. amid mixed reaction with the redesign of the app. >> we build pro

emily: tim cook also talked up apple's exclusive content.nd artist interview content. are there particular global territories or regions that spotify expects to grow more in particular? caroline: china is where analysts are focusing. remember, one of the biggest investors is tencent. they think a deal could be done with tencent music. they could really grow their focus over there. a breakdown of premium users, the bulk, about 40% in europe. one third is with you in the u.s., but then it is latin america and the rest of the world. i think you will see more emerging markets. we saw israel open in march as well as south africa. we will see an expansion territorially. more innovative ways of cashing in and making money. emily: that was bloomberg's caroline hyde and alex barinka. still ahead, how xiaomi went from has been to the biggest ipo in years. this is bloomberg. ♪ ♪ emily: this week, xiaomi filed for an initial public offering in hong kong, kicking off a process that could be valued at $10 billion. it could be the largest deal since alibab

they've got it here is tim wise again.p in mind, this is what liberals are now claiming is the opposite of racism. >> the gentrifiers of today. their parents or grandparents ran away from the city to get away from black and brown folk. and now their children and their grandchildren are saying, oh, the suburbs, there is so many olive gardens i can go to. i need to go back to the city and get my life in the city. when i do that i need to have my hot yoga studio and by porter studio and my stuff represented. if you intrude on that, i will then call the police. >> tucker: are you taking notes on this? are you getting this? they are telling you on msnbc that because certain people have the same skin color they all have the same dumb attitudes. they like the same crappy restaurant. they spend their free time pursuing the same frivolous who areys. they are by the way every one of them immoral. can you tell by the way they look. that's the official position of the personal left, the same people currently accusing you of racism. hu

tim, thank you so much. just to give you breaking news right now, concerning donald trump, rudy giuliani says michael collins payment -- payment to stormy daniels was "funneled through a law firm and the president repaid it." we are talking about that money to stormy daniels will turn out to be perfectly legal. but as a takeaway according to mr. giuliani. he said that in an interview with fox news with sean. he said money was not campaign money. it is not campaign money. no campaign file a shin. it's perfectly legal. in other words, according to him, this payment funneled through a law firm and then the president repaid it. if that makes sense. essentially, and one of his first statements since taking the new role as part of trump's legal counsel, but just a reminder, david, ever in the background of these dramatic headlines continue to play out, it's been a while since we have market we will have to wait and see. staying with the u.s. on the pentagon, they have banned u.s. military exchanges from selling pr

you know, tim. i guess this session is to taught what the 3rez has seen as real accomplishments, he also seems to be very focused on work yet to be accomplished, particularly as it talks about immigration and border control. and listening to the president there saying, and we have the quote there, we will build a wall, even if we have to close up the country. what does he mean? >> well, i think he wants to show strength, i think despite the fact that experts on immigration and the opiod crisis, two different things, but there are overlapping issues, i have said that building a wall is not going to do much if anything to stop the flow of illegal drugs into the country. he still tries to link that in the minds of americans, he knows what a big crisis the opiod challenge is in this country, and so he's desperately trying to link that to the wall and say somehow that the two are -- should be supported by congress. congress doesn't want to support the wall, they understand it's a waste of money. i want t

maria: our thanks to tim sloan. don't go anywhere.street" right after more "wall street" right after hi, kids! i'm carl and i'm a broker. do you offer $4.95 online equity trades? great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab. with dell small businessout your technology advisorsrantee. you get the one-on-one partnership you need to grow your business. the dell vostro 15 laptop. contact a dell advisor today. the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try parodontax toothpaste. ♪ let's see. if these packs have the same number of bladder

tim, what's your pick? >> is it safe to wear seersucker yet? >> tuesday i expect to see you. >> i'll be in. ibb. i think biotech has traded sideways for too long. they're going to sizzle. >> i like dhi. this is a name you want to buy these home builders have been left for dead since rates were on the rise. >> dan, you're sizzling. >> listen, guys, bud red white and blue in a can. this is the one. it's down 25%. >> trades cheap. >> shake shack remember why memorial is named that >> yes >> happy memorial day. don't go anywhere. options action is back right after this hi, kids! i'm carl and i'm a broker. do you offer $4.95 online equity trades? great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at

[laughter] tim scott. tim. thank you, tim. great job. great achievement. and pat toomey, who really does know the financial world. i can tell you, from experience. right, pat? great job. also, representatives. jeb hensarling. fantastic, fantastic job. thank you, jeb. you wanted to get near the table instead of getting over here. that's like the prime location until about 10 minutes ago, right? >> it's all about real estate. president trump: i know it is. it's all about location, isn't it? [laughter] jim banks, andy barr, kevin cramer, sean duffy. tom emmer. french hill. bill huizenga. david kustoff. patrick mchenry. where's patrick? greatest name in politics. i don't know why. every time i say patrick mchenry, who, by the way, does a great job, aside from everything. more important than the name. i think you have the greatest name in politics. if i had that name, i would have been president 10 years sooner. [laughter] telling you. great name. thanks, patrick. mia love. thank you, mia. blaine luetkemeyer. keith rothfus. where's keith? thank you, keith. very

tim is still with us.he market is beginning to get an understanding of what the effect of the iran story will be? will: no because we don't know how much oil this will take out of the market. noe people are saying almost oil will be prevented and some people are saying almost half. knowarket really needs to how the sanctions are going to impact things. what it means for ensuring ships carrying cargo. we don't know what effect lobbying may have from european governments to slightly soften the sanctions. this is going to playoff over weeks and months. how easy is it for u.s. shale to replace some of this? once we know, does the gap get filled? you've got a second opec country and now the saudi are sending a message to market. they are ready to step in. i think it will go some way to assuage the markets concerns. spare capacity is probably not much that much more than -- probably not that much more. guy: they are trying to get the price up. we have an ipo coming up. why did he not what to see the from going f

it is a nice thing for tim cook to say. i see a bit of traction with what spotify has been doing, if you look back, they have a deal with hulu, and they are selling that as a combined premium offering. when you think about the generation it makes sense for them to target, the smart phone users, having a slew of services, that take from tim cook does make sense. whether apple is winning, they might need more content which is where you have seen spotify try to push in outside of music into podcasts and now video in the spotify app. you can watch hulu's shows right now. emily: they have exclusive radio content, interviews they do with artists. are there particular global territories that spotify expects to grow more in particular? wherene: china is analysts are focusing. one of the biggest investors is tencent. i was interested in a breakdown of premium users. the bulk are in europe. about a third is in the u.s. and then it is latin america and the rest of the world. you will see more emerging markets. israel, south africa, we

tim: it is growing at a double-digit number on a year-over-year basis.at kind of change in the base and the services we have now and others that are working just a hugethis is opportunity. paul: this is something we were talking about with our technology reporter mark gurman earlier. the iphone, maybe it is reaching market saturation. where does apple look for new growth? 's services the answer? bob: i absolutely think it is. in some of the comments, the notes i made before the hearing came out, the question was how with the services business do in case iphone did not live up to the expectations and services blue the numbers away. as you point out, i think we will see some challenges. the smartphone market worldwide peaked in 2016. apple can grow their share but it is still in a bit of a declining market. the services business is critical for apple because you have a lot of customers who are spending money on a regular basis. it is a much more repeatable business model of buying more and more services from apple. they talk about making more investments i

traders are pete najarian, tim seymour, dan nathan and guy adami. it is a bitcoin cash takeover. the cryptocurrency is the best performing coin in the last month, and the prophet himself, roger ver, aka bitcoin jesus is back with a new prophesy that could sent the cryptocurrency universe reeling he will talk to us exclusively deal wit >>> but first we start off with what we are calling the three prongs of pang cue the scary music. the market selling off as pressure increases from rising rates, a strong other dollar and oil prices on the rise could these three major headwinds lead us down the river to selling hell again, like you saw earlier in the year? we're overdramatizing a little bit, guy but you get what we mean you get what we mean here. >> i get your drift. >> we're looking for causality a reasonable why the market was down 7/10 of 1% in terms of the s&p 500. i get it i could make a bullish argument for all three. higher rates should do well for the officials. pete and tim talk than all the time stronger tower stands that maybe the consumer will do well. and higher oil mea

tim: it could invert.not think if inverted over the next year or so would be because there is concern of the recession, i think it has more to do with the fact that if you look around the world long-term rates in europe and japan in particular, are much lower than they are in the u.s. you could argue whether or not that makes sense from a return standpoint. that is what is keeping a ceiling on the longer-term rates. you see the yield curve flattening out a little bit. treasury is atar 3.1% today, what do you figure - - >> i am not smart enough to know that. >> you are managing the balance sheet with that in my bed -- in mind. tim: could i imagine us seeing a 10 year at 3.5% or 4% in the next 10 months, absolutely. we have had a significant back above 50 basis points in the last few months, and if you believe economic activity, not only in the u.s. but around the world, is going to continue to increase then you can imagine the rates getting in that range. >> as rates go higher and the own curve slopes more

for me risk reward wise, not a bad time to get into bitcoin. >> brian, it's tim. >> hi, tim. >> good job out there tonight. give us visibility into entire cryptocurrency case. most people can say what's going on with bitcoin, bitcoin cash, how much is a bitcoin issue or is this a bloodbath everywhere. >> bitcoin is still the big dog out there. everything is still correlated with bitcoin it's still the way that you get on board and into this system. what is going to happen over the next couple of days or next couple of weeks, actually, you're going to see other exchanges here in the u.s. start trading u.s. dollar payers against other cryptocurrencies i would expect as that trading expands, you'll see less dominance of bitcoin, correlation to everything else, and on boarding into other cryptocurrencies. >> thanks for that, bk we want to move on in our crypto conversation one man intimately familiar with selloff asiff hirji, largest online crypto brother. number 10 on disruptor list. he joins us in las vegas where he's at a credit suisse. great to have you back on the show. >> great to

>> tim, historically you traded a 19 multiple core inflation between 1% and 3%.t's not 20 because of this cycle. because it's traded for so long below 20 so when you think about that, coupled with inflation is still at under 2% on the core level. so let's think about is the market or optimism i can't imagine the scenario with the number is too high. >> you'll get there. >> here at 17 times at the end of this year in other words, you've had a three multiple point contraction already if you say prices will stay where they are. i don't think there's any way that will happen unless you get the today do some kind of crazy spike in rates which three or four of the fed governors have said we don't want to invert the curve so they're paying attention to that story so i'm saying yes when you look at the trailing 12 maybe the multiple is still high but at the end of 2018, there's 25% earnings growth this quarter. if you have greater than 20% earnings growth this year, no recession next year. now you're at 160 something in earnings that's a hard thing to say you'll be at a

number two, taking tim scott was the best for me. got to watch you run statewide and show up at barbecues. he got to raise a lot of money and they knew that if she picks someone like me it would be others that ran the next time. i'm not going to clear the fie field. once you run and contest the republican primaries now twice, i've done it, i didn't like being on representing more than six in the states. i certainly didn't want to be gone having all the responsibilities that you have. you were expected to be a at the same time, so it's been validated but you also have to know what your strengths and weaknesses are, and i wouldn't have been a very good senator. >> i am blessed to serve in the senate. he would have been a fantastic senator. for thfor the reasons i'm annouo us he decided that it wasn't in his best interest and the fact of the matter is he has had the worst assignments in the house to find themselves not a necessarily an amiable position but a strong advocate on what is called to do which admission is justice, he's had a

i will hit on that and go to a tim cook's comments.aradigm is less anxiety about the iphone and this is a generally stable business. not a high-growth business, 0% to 5% growth business, but stable. that stability is a platform for them to grow services which grew nicely in march at 30%. last, the share buyback. that trifecta is how investors -- that does not change the narrative around what is the growth. i want to talk about what he had said, i have 17% market share. are 500d there million feature phones, a flip phone, sold every year. they can inch into that. my buffing of the myth is it is unlikely the will get much of any traction at the low end, which is that market. i do think they can grow fractional market share. each 1% share that they gained is about 13 million units or about 4% increase in the iphone base. so, it is easy for them to inch up. that part of cook's comments is valid. do you think the price of the highest end iphone could go up significantly? tim cook told me he is not worried about the price of that $999 iphone

where do you stand are you a laurel bull or a yanny bear, tim seymour, where do you see? >> great point to kickoff the show love the mush statache. this is the market that got some yanny for everybody. look at that so powerful and '90s and listen to that. anyway, back to this market, i am a tactical yanny, in a short term, i think there are things out there, mortgage rates got to set near highs today the equity market is only 4% off of its all times high in the face of rising interest rates and the feds it is not priced for laurel. i heard laurel every time. if you heard yanny, i think you should get your ears checked >> i like to hear yanny verses see yanny after that last picture. it is undeniable >> it is a crazy thing, for five seconds, i heardyanny and i looked back and i heard laurel tim is a tactical yanny and i am a tactical laurel. >> you are a tactical bull >> i believe we have come really far and fast specifically the last couple of weeks we bounced off those levels and rally aggressively >> you look like yanny >> you don't have yanny's hair, party in the back.

you can watch the full interview with apple ceo tim cook.is in the new season of the david rubenstein show. only on bloomberg. this is bloomberg. ♪ mr. elliot, what's your wifi password? wifi? wifi's ordinary. basic. do i look basic? nope! which is why i have xfinity xfi. it's super fast and you can control every device in the house. hey! let's basement. [ grunting ] and thanks to these xfi pods, the signal reaches down here too. so sophie, i have an xfi password. and it's "daditude". simple. easy. awesome. xfinity. the future of awesome. mark: i'm mark crumpton. the united nations security council is meeting to discuss deadly violence at the gaza border. ahead of the meeting, israel's ambassador said hamas should be condemned for the violence. it is said that israeli troops were defending their borders. he accused hamas militants of trying to attack under the cover of protest. casualty that has resulted from the recent violence is a victim of hamas's war crimes. they are fully the responsibility of hamas. who claimedeveryone that the u.s. e