vonnie: in new york, i'm vonnie quinn.markets." .t is time for futures in focus seyfried is at the cme. his goal being taken higher by the movement of other assets, or is this a pure play in itself? ted: this very much feels like a trends day for gold. we are now up over $150 since late may. stocks are down a little bit. iran's criticism of u.s. sanctions were there, but not seen as intense escalation here. we are worried about trade talks with china. china saying today they feel like they are being bullied, so we are not expecting a whole lot out of that. you do have investors that continue to seek gold as a safe haven, especially given the current track of the fed and given the mobile tensions, but you are getting very overbought on the rsi. the funds and small specs are getting very long here. the question is how long can we go. when you start treading on this really thin ice of being overbought on the relative strength index, the market could be vulnerable to a pullback at any given point. if you look at the dollar try

♪ vonnie: i'm vonnie quinn in new york in for emily chang. this is "bloomberg technology."oming up in the next hour, president trump says he is the obstacle holding up a trade deal with china. meantime, apple is already coming up with a contingency plan to move out of china. and the congress probe into big tech kicks off with how the likes of google and facebook are challenging the news industry. we speak to a top lawmaker who doesn't think big is necessarily bad. videogame companies are trying to one up each other at the e3 gaming convention in california. we will hear from a top executive from microsoft and take-two ceo. first, to the top story. president trump says he will not finalize a trade deal with china unless beijing returns to terms negotiated earlier in the year. trump spoke to reporters as he left the white house for iowa, a day after he threatened to raise tariffs on china if chinese president xi jinping does not meet with president trump at the g20 summit. pres. trump: china is a major competitor and right now, china wants to make a deal very badly. it is me

vonnie: all right. just on turkey alone, because obviously we saw the mayoral election over the weekend, and the same result, how investable is turkey right now? morgan: when we study emerging markets after crises like what turkey has gone through, typically you see a 50% to 75% return on equity's a two-year horizon. the clock started on that last year when turkey experienced a big correction in exits exchange rate -- in its exchange rate. investors are worried about the ongoing uncertainty about domestic politics. now that we are past this election, we don't have another until 2023, so the government can pursue more coherent policies consistent with interest rates coming down in the stable balance of payments. that would be great for turkish assets. the more cautious approach would be to say, wait a second. in the course of the last five years, turkey has become much more fragile and vulnerable to shocks like oil prices or higher interest rates, so you may not see the kind of recovery in turkish assets

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." attacks in seeing the gulf. european stocks have been fading throughout the afternoon. the swiss franc on balance. i think the market would have liked a little bit of a change of tone from the snb. it didn't get it. as a result of which, stronger franc. vonnie: here in the u.s., we are seeing gains moderate. the s&p 500 up 2/10 of 1%. crude partially behind a small rally today. you mentioned brent. index isy getting a bounce. we will get to some companies in that indexing in just a moment. tyson foods has come out with its competitor to the beyond meat product, and getting a bum from that of about 1%. we just had that ipo, another successful tech ipo, with fiber international. guy: crude definitely the top story, spiking up after two tankers were damaged in the gulf of oman. our editor for commodities is joining us from new york. is this an escalation? luke: reporter: the market is certainly -- reporter: the market is certainly reading it that way. neither of these tankers was actuall

vonnie: u.s.ntinuing to grind higher each day this week, joining a global rally in riskier assets and optimism on trade talks and supportive monetary policy. here to discuss is bloomberg's dave wilson. we had china with stimulus overnight, and that helped fundamentals couple witches today's reason for a bit of a rally. there has been a reason every day this week in spite of the lack of major headlines. reporter: right. it is a market that is kind of predisposed rebound at this point. especially when you see that the record of the past few months are getting closer and closer, and investors are willing to take risk. look at what it's going on with the technology stocks. the s&p 500 technology index up something like 10% over that stretch. that's since 2011, so they are like the old favorite. they are carrying the market higher at this point. guy: i'm really struggling. i've got a market pricing and a whole bunch of fed rate cuts. market is going higher and higher. how can we be cutting rates if we

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: this is the picture we find ourselves with. equity markets just positive, but near the bottom of the session. ib is trading lower today because it's banks are trading lower today. unicredit down by 2.99%. the european commission has started the ball rolling when it comes to the deficit and debt procedure against italy. going to be interesting to see how rome reacts on that one. vonnie: pierre moscovici earlier very interesting on that one, the european commissioner who started that. s&p still above the crucial 2800 mark. will we close the day above there? it is anyone's guess. --esforce indicative some indicative of some of the cloud companies. butexactly sterling news, enough to have those names rallying. the dollar index is saying above 97 right now. we will speak with our next guest about some of the currencies it is trading against and why it is trading at 97. as you said just a moment ago, the european commission taking the first tentative steps towards disciplining italy to

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets."'s get a check on global markets. abigail doolittle is here. abigail: at this point we have the buyers in control globally. the s&p 500 and the nasdaq see modest to solid gains. the s&p 500 snapping perhaps a four-day losing streak. the nasdaq up for a second day in a row. in germany, the dax higher by. about 3/10 of 1% in the asian session ash higher by about three tents of 1%. dax higher by about 3/10 of 1%. in the asian session, the nikkei higher by 1.2%. up on the restructuring plan in europe, reducing the workforce by 12,000 europe and the number of factories by 25%. they will be focusing on the higher price and better margin suvs and pickups. walgreens higher on a strong quarter. .dvanced micro up 2.5% on the downside, conagra plunging. they put up a quarter that was disappointing, the outlook not great. bowing down to .8% as the faa -- as the faa says there are potential he more problems. h20 fund is hemorrhaging cash, downgraded by morningstar, but up on the day more than 2%. v

vonnie: i'm vonnie quinn. this is the european close on bloomberg markets. guy: trying to figure out the markets today is an interesting exercise so let's talk about equities. a number of idiosyncratic stories helping europe out. the stock 600 is up by 1.2%. monopoly is one of the reasons we are trading higher today. a decent lift higher to the french market in particular. the euro from strength to strength. the euro trading up around half of 1%. with what struggling mario draghi is saying. a lift today on the back of payroll figures but it does look -- you believe pricing in the german 10 year. there is a belief that we are heading toward some sort of policy action from the ecb. theoretically, that should be negative for the euro. not turning out that way is it? interesting set of markets. vonnie: the dollar index is down. now.right the british pound is rallying today. we got word that the nomination process is now open. the conservative party side of things. we will see who formally nominates themselves. the

this is bloomberg. ♪ ♪ vonnie: from new york, i'm vonnie quinn.s is the european close on "bloomberg markets." let's get a check on the first word news. here's courtney donohoe. courtney: for the first time, iran may break a landmark agreement that was made to keep it from developing a nuclear weapon. iran said it would start withdrawing from the agreement unless europe threw an economic lifeline. the u.s. pulled out of the deal a year ago. agentina isn't ruling out cyber attack for a massive blackout that affected the entire country, as well as uruguay, paraguay, chile and brazil. officials are looking at a technical issue or even humidity. the supreme court has told an oregon court to take another look at a 135,000 word against a akery that refused to make cake for a same-sex couple, citing religious grounds. a state appeals court found the bakery violated antidiscrimination laws. the owners say the state violated their speech and religious freedoms. telecom billionaire patrick drahi has agreed to buy sotheby a 67% premiumon, to their closing pr

vonnie: and contrary. guy: all good. vonnie quinn will win.a critical point with the equity markets. are we heading for those record highs. what is coming up next? "balance of power." david westin. david will be talking about big tech and antitrust. he will be joined by the director of the ftc competition bureau. the regulation and competition issues surrounding big tech is absolutely fascinating. 2900 -- are we headed for fresh highs? that is the question the market is trying to figure out. tech is getting us all are bit -- a solid bid. up 2%. balance of power will carry on the conversation next. from vonnie and myself, have a great afternoon. ♪ david: from bloomberg world headquarters in new york, i'm david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, michael mckee on the mexican tariffs that never were. anna anderson on what this means for the usmca and tensions in hong kong over new extradition law. i am tempted to say nevermind when it comes to mexican tariffs. michael

vonnie: thank you.oming up, we had to los angeles -- we head to los angeles for coverage of the e3 gaming convention. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg gap, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ vonnie: the e-sports market is booming with highly skilled players, arena-sized audiences, and a revenue projected to reach $1.8 billion by 2022. bloomberg's shelley hagan takes a look. shelley: it is a far leap from the penny arcade. e-sports takes the gaming world with arena sized audiences and big sales. they raked in $865 million in revenue over 2018. the audience is larger in asia, boasting 50% of the world's viewers, compared to 12% in north america. with the e3 conference underway this week in california, all eyes are on the booming business. blizzard and electronic arts have a combined market cap of more than $60 billion. private investment is growing as well. venture capital investment in 1.8 billionched dollars in 2018. e-

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets." latest bloomberg business/. the fee for women's -- is this flash.omberg business announced more than 130,000 that one hernced to 30,000 tickets -- that 130,000 tickets have been issued for the women's world cup for american fans. "the wall street journal" reports that united health will equian withrge one of its arms. electric and power construction corporation of china will lead a hydroelectric effort in africa. to consortium was chosen build the plant on the border zambia and another country. that is your latest bloomberg businessflash. guy: let's turn our attention now to what is happening with .he texas emma chandra is here with more. today we are hearing more about what is happening with the critical funds at the center of all of this, the h2o funds. talk to us about what is happening and the asset flows out of them. emma: the issue is one that is assetnatixis's management and allegro funds. shares went into freefall yesterday, falling about 10% to 12%, and again falling today. i

vonnie: from new york, i am vonnie quinn, and this is "bloomberg markets."mma chandra -- guy: emma chandra is there. emma. emma: thanks, guy. at the bloomberg annual meeting, joined by the president and ceo of walmart. thank you for joining us. doug: thank you. glad to be here. has been all about building scale and size so you are able to compete. delivering walmart in home straight to a customer. is this something that will give walmart and edge in the competition? the abilityhis is to leverage walmart with a unique advantage that only walmart can do. in those locations, we have about 100,000 products, including fresh and frozen. we started doing pickup a couple of years back, and now same day delivery. so far, so good. emma: this is the differentiating factor. think this is a great step change in the value proposition. imagine going to work and having all of the groceries stopped in your fridge. emma: you mentioned third parties. what did you learn that is viable now? learned the opportunity to use our own walmart employees to do delivery. we think that is

vonnie: from new york, on vonnie quinn. this is "bloomberg markets."'s check in on the first word news. here's kailey leinz. kailey: president trump says the u.s. will decide whether to impose more tariffs on chinese goods in the next few weeks, sometime around the g20 meeting in japan, set for june 28 and 29. time is running short for u.s. and mexican negotiators. talks resumed today over president trump's threats to impose tariffs next week. the goal is to slow the flow if illegal drugs and undocumented migrants from mexico. in new york, state officials at a vehicle said heading for the training site overturned on a dirt road this morning. no word yet on what caused the crash. fiat chrysler and the french government are blaming each other for the collapse of renault merger talks. still, both sides are keeping the door open to an eventual deal. fiat says no deal is possible in the current political conditions, and francis adjusted the deal was being rushed. it wants more time to win over renault's partner nissan. global news 24 hours a day, on air and

vonnie? vonnie: thank you. coming up, president trump's trait chief -- trait chief appearing in front of a hearing. lawmakers walking into the room right now, and we will have the latest on that next. and bloomberg's subscribers can watch the testimony on their "live go." this is bloomberg. ♪ guy: from london, i'm guy johnson. vonnie: i'm from new york, i'm vonnie quinn. this is." what an interesting morning. >> it is an interesting morning for stocks globally and risk on for the most part. look at the s&p 500 that is up or the german dax is outpacing those games up 1.9%, the best pay sends january 19. since januaryce 19. weighing on the euro a little, but over the last seven days, losing about 1% as investors expect the ecb could devalue the currency, look at the 10 year german bund down seven basis points. wanting the german government to hold their money. that is a record low. if we take a look at the s&p 500, there is a second influence on the rally, and this is the two day chart. the second leg is as presi

vonnie: in new york, i'm vonnie quinn.his is the european close on "bloomberg markets." >> president trump holding out the prospect of a big trade deal with u.k.. first, the u.k. has to leave the european union. the president telling a joint news conference with theresa may in london -- >> as the u.k. makes preparations to exit the european union, the united states is committed to a phenomenal trade deal between the u.s. and the u.k. there's tremendous potential in that trade deal to-three times of what we are doing right now -- 2-3 times of what we are doing right now. >> china has warned its citizens it is dangerous to travel to the u.s. beijing has issued a travel advisory through the end of the year. the warning was driven by y chinese travelers are having in the u.s. pompeo testing mike blasting-- china is calls that -- china a n affront front on the chinese people. paul manafort is expect to be moved soon to rikers island -- he will be held in solitary confinement while facing fraud charges. he is serving a 7.5 year

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: tomorrow's big event is definitely the payrolls number. today's action largely driven by what we got out of the ecb and out of mario draghi. it did have an effect on the market a little earlier on. on this chart here, the white line is the stoxx 600. this is the reaction as soon as draghi starts speaking. stocks go lower, and they stay down. the dax bouncing off its 50 day moving average, and that provide a little bit of a reason for that resistance level. the euro picked up a little bit, but you have to remember that the market is pricing cuts already from the ecb. draghi didn't go there today. he hinted at it, but he didn't go there today, as a result of which we did see that euro strengthening. there were certain members on the governing council that did talk about the idea of cuts being appropriate and starting qe. stocks down, euro a little bit higher. vonnie: of course, that euro higher has the dollar index actually below 97 today. we are at $96 90 four cents right now. let

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets.": the european commission taking its first steps towards disciplining italy today for running too high a debt level. the move intensifies a mounting dispute between rome and brussels and paves the way for an initial penalty as high as 3.5 billion euros. we are joined now for a first on bloomberg by pierre moscovici, eu commissioner for economic and financial affairs. he joins us from brussels. good afternoon commissioner. italian debt tenure currently trading above germany's. do you think italy's current ?ebt trajectory is sustainable commissioner moscovici: we want to reduce the italian debt due to the fact that it is not controlling its deficit. that was not the case in 2018. it is not the case in 2019. it should not be the case in 2020. we delivered a report on the basis of an article of the treaty saying that at this stage , and without further data or a procedure for debt could be envisaged. it is just the first step of a very complicated process. we have not decided. but we launc

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets."'s get a check of global markets right now. abigail doolittle will explain. abigail: a little bit of a risk off tone. the s&p and the nasdaq both higher. 1%, ondaq is up 7/10 of pace for its best day in about a week. the bulls are out. that is not so true for the dax in germany, just about flax. that is true -- about flat. that is true too of the nikkei. confirming the risk on tone, stoxx on pace -- pace for its third week up in a row. the german bunds are selling off a little bit. investors not seeking that safety. it is yielding -24 basis points overall, which speaks to the uncertainty of the time as investors are amazingly paying the german government to hold their money. as for the nasdaq, let's take a look at some of the biggest boosts for that index. on the point boosts side, facebook shares higher nine out of the last 10 days, today up to 16%. investors excited for the unveiling of the cryptocurrency tomorrow. amazon also higher. -- arrayfarma pfizera up 57%, with buying them ou

vonnie: from new york, on vonnie quinn. this is -- i'm vonnie quinn. this is "bloomberg markets."eck in on the latest on natixis. the h2o asset management arm has decided to remove all entry fees across all funds until further notice, according to an email statement. the fund group also indicating that redemptions have markedly subsided, down to just $450 million today. but stick a look at what this means for the wider industry. joining us is jonathan tice of bloomberg intelligence, senior bank analyst. the outflows are slowing. i guess the question we are now left pondering is what happens .ext for h2o in natixis has everything that could be done been done, or is there more still to do? jonathan: they immediately sold down the bonds to less than 2% of their assets. they dropped all fees, because fees are a big part of the issue with asset management, as we know. i wouldn't say that one day makes a trend. at 450e days ago it was million, and then it was set a billion. of course there's a question --ut how much visit validity about how much ability you have to drive revenue growth.

vonnie: from new york come on vonnie quinn. this is the europe -- from new york, i'm vonnie quinn. the european close on "bloomberg markets." guy: boris johnson, leading candidate for the next prime minister of the united kingdom, says parliament is ready to support a no deal brexit. however, other embers of the conservative party have warned that they have the numbers to stop him. still with us is jordan rochester, fx strategist for nomura. what do i need to discount in my investments? should i be looking at a hard brexit? can boris deliver that? should i be looking at a general election? would boris win that? walk us through the most likely scenario right now. jordan: the most likely scenario is election, more likely than a hard brexit. i think about how well would be brexit party do in that election. will the conservatives form a coalition with them, or is it corbyn? the way the polls are looking now, it is all over the shop. --ryone is around 20% 2.4% 20% to 24%. we've gone from two-party politics to for party politics -- two four -- from two-party politics.o four-party guy: la

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: let's take a look at where european assets are and put them in the context of the global story. the dax is trading higher. that theoretically should signal a more risk on, trade positive kind of story, despite what the president said. the dollar is trading higher by 1/10 of four per's -- by 4/10 of 1%. gold trading down by 1%. vonnie: some interesting dynamics at work in the united states. you can't overlook crude oil inventories, which saw a massive drop. crude skyrocketing. it had been higher even before the inventories came out. very close to $60 a barrel now. the s&p 500 and dow both up about 1/4 of 1%. micron up significantly, but the stockslphia chip index up as a whole. general mills is the worst performer in the s&p 500. it's pet food portion of its company, after acquiring blue buffalo, is doing really well. what we know general mills four, all of its cereals and so on, they are not selling as well as analysts were hoping for. that is sending the stock lower. bitcoin has

vonnie: thank you.ones willpaul tudor talk markets and how corporate america can tackle social justice. this is bloomberg. ♪ ♪ guy: you are watching "bloomberg markets." let's catch up with the bloomberg business flash, a look at some of the biggest business stories in the news right now. the french off with technology company -- so -- french technology company that has agreed to buy data solutions , a 70% premium to the closing price -- a 17% premium to the closing price. it bit of a change of direction for dassault. mga entertainment wants to merge with mattel, even if that means making a hostile bid. that anhas already said unsolicited offer has been rejected. now he says he's looking at other options to merge the dolls with thez maker of barbie dolls. lacroix has lost its fizz, and so has its makers' fortune. shares have fallen 62% in the last nine months because of slumping sales, more competition, and allegations that it scans contain toxic chemicals. -- the national beverage chairman has seen his

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: this is the longest day of the year, but we are nearly done with european record for the day. oil and gas is trading quite firmly. brent trading strongly today. gasoline prices also getting a lift on the refinery fire in the u.s. 1%ck 600 is down by 4/10 of stoxx 600 is down by 4/10 of 1%. vonnie: we are unchanged on the major indices overall, but it has been the most amazing month of june for the s&p 500 since 1955, the seventh best in the entire history of trading in the united states. underneath the hood, there's a lot going on. just for right now on this quadruple witching day, we are at 2.06 on the 10 year yield, but more and more voices calling for more easing or less strengthen the economy, saidding rich clarida, who he would have cut this time around, and kashkari saying a 50 point basis cut is what he was looking for this time around. on earlier,dan fuss talking about 150 sometime this summer or early fall. the chorus is getting louder. gold is off its highs. it did cros

vonnie: i'm vonnie quinn. close.n here's courtney donohoe. >> talks begin today on president trump's threats to impose tariffs on mexican goods. he is using that as leverage to stop illegal immigration. trump claims mexico has taken advantage of the u.s. for decades but tariffs will end that. china has barred president trump's campaign slogan, saying the trade war hasn't made america great again. beijing blames the trump administration for the collapse in talks. is putting the internet on lockdown ahead of tomorrow's --h anniversary of the tnn themen crackdown -- crackdown. in some cases messages have been blocked or delayed from going out. angela merkel's coalition has been rocked by an unexpected resignation. the social democrats are looking for an interim party chief after the leader quit. will some party members want to ditch merkel's coalition in the hopes of rebuilding voter trust? merkel could be forced to find new partners, had a minority government or face an early election. global news 24 hours a day on air

vonnie: thank you.onear retailer is our stock of the hour, retail trend,ak -- gaining as much as 7%. emma chandra is here with more. emma: they actually hit a record high for the stock. also seeing very high-volume when it comes to lululemon, 1600 times the 20 day average when you look at trading. the key we are seeing for sales growth, we always talk about it as a key metric within sales growth, they put in their six above 10%,es growth which actually came in at 16% in the first quarter. we've got six quarters where it was above 10%. the guidance suggested they may see a bit of a sales slow down in the second half, but a lot of analysts said the company has been very conservative with their guidance for the rest of the year. we saw a glowing analyst reports, the likes of susquehanna saying the company going on all cylinders. the big drivers for lululemon are pushing into menswear and also digital and international. they really do have some room to run internationally. the majority of their sales come f

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: a little bit of a fade on the rally on u.s. equities. european equities still relatively boy at -- relatively buoyant -- relatively today. the dax is having a pretty solid day. a morealso seeing positive print when it comes to the pound today, up i 3/10 of 1%. the dollar is not doing very much, but the pound is trading higher. we saw some slightly better data out of the u.k. earlier on. it is hard to believe any central bank around the world would be interested in hiking 127.19.ut nevertheless, vonnie: we are seeing the rally moderating, but we continue to grind up in u.s. equities and global equities. china mentioning stimulus measures overnight, and that had companies metals rallying today. we are still up about 1/4 of 1%. a couple of stocks to mention, beyond meat down 20% today. not exactly the worst day for beyond meat, the underwriter saying on a valuation viewpoint, beyond meat is really full at this point. sprint down 6%, t-mobile down with the state attorneys general fil

this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn.: from london, i'm guy johnson. this is "bloomberg markets." let's get the first word news now. >> president trump's next trade studentst is chinese -- they are restricting student visas. several chinese grad students they findctors say the u.s. job environment increasingly unfriendly. virginia governor ralph northam responding to the shooting in virginia beach. he's calling on a special session of the legislature to take up gun measures. he wants the general assembly to hear from the public. there are new health concerns connected to the fire at the notre dame cathedral in paris. they are that young children and pregnant women should get their blood tested for lead pollution. in italy, a warning for the prime minister. he says he will quit if the partners in his popular coalition don't quit posturing. languisht agree to don'tserve -- if they show a sense of response ability and full transparency, i will handed my resignation. >> global news 24 hours a day, powered by more than 2700 jo

vonnie: in new york, i'm vonnie quinn. this is the european close on "bloomberg markets."we are trading at session highs as we head towards the end of the day in europe. much of the day in the negative territory. we are also seeing something of a selloff in comes to the bond market. despited fairly flat the president of united states being here in london. vonnie: here in the united states, it is the first trading day in june after a really brutal may. it looks like stocks are recovering. that could be post europe, or maybe the u.s. leading europe. right now, the s&p 500 is up about 1/3 of 1%. there was a real change on friday and the bond market.

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: let's look at those markets and figure out what is going on this monday morning. and whatng for the g20 happens between the president of china and the united states. stoxx 600 down. more defensive names continue to push on. euro-dollar trading in a very tight range. gold continues to be bid, 1408. vonnie: here in the u.s. we are looking for direction. the s&p 500 has just turned positive, by tiny fractions. some stocks on the move include bristol-myers, down 7.3% for the worst performer in the s&p. celgene was the second worst. bristol-myers is offloading one of celgene's psoriasis drugs. it is a lucrative drug, but it needs to do it to get the deal done. capital one financial one of the financials performing poorest today after the first round of fed stress tests were pretty positive for most of the banks. thetal one maybe one of negative ones in that it deals with a lot of credit cards. guy: absolutely. president trump once again taking to social media to have an attack on the

vonnie: in new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: let's take a look at the european markets as we approach the end of the week. stocks are trading lower. technology is down the most. that is the broadcom effect. brent crude up by 1.4%. pay attention to that. the russians cut rates today. the ruble rose, a bit of a surprise. we did see the governor hinting that there could be more cuts to come. vonnie: in the u.s., we are also lower. similar story, particularly for the stocks. just one of those semiconductor stocks positive. everything else negative on the broadcom morning, dragging down the s&p 500 by about 2/10 of 1%. facebook is the stock in the green today, up 2%. we are waiting for it to unveil its cryptocurrency next week. gold futures moderating gains, but still well above 1350 right now. let's get back to that oil story. president trump blaming iran for attacksrecent tanker after u.s. officials released these pictures, video they say proves the islamic republic was involved in an attack indie gulf of oman. we are joined b

vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets."ck of the hour is about to start trading. online pet retailer chewy raising more than $1 billion. much andra is with ceo sumit singh -- in much andra -- emma chandra it's with ceo sumit singh. emma: you priced your shares last night. you raise one billion dollars. what you plan to do with the proceeds? sumit: we will invest in process infrastructure, that kind of thing. emma: what portion will go to service debt? sumit: a portion of that could go to servicing that. emma: you can't tell us how much that would be? sumit: i'm not aware of it. emma: chewy has been able to capture a big portion of the online pet supply market, but amazon has a bigger proportion, and we are seeing other retailers like walmart and target pushing into this area. how do you plan to maintain that market share and grow it? sumit: there's a lot more growth in front of us. if you look at households in the u.s., we are about 10% penetrated. we have shown a unique italy to grow -- unique ability to grow. recently, we

vonnie: breaking news.berance continues for the tech ipo with cybersecurity firm crowd strike up 96%. ed at, the price it ipo $35 a share. $66.15, a 94%at increase. we'll keep an eye on cloud strike -- on crowd strike. as an p5 hundred still down .2% -- the s&p 500 still down .2% on chip stocks. the 10-year gilts happy in that range. at 2.13 -- the 10 year yield happy in that range. i thought i would point to gold futures. it has been said gold is the trade for the next 12 months. it is up 1338. in terms of other things on the move, i pointed to the semiconductors early on. the stocks index down 2%, crew down 3% at 51.71. is up 8% after the massive drop yesterday. increase,he initial so what is 20% here are there? , perhapsn 2.7% suffering after yesterday's investor day but not that much. guy: greece is preparing for a national election next month. it will be the first since the country's bailout nearly four years ago. joining us to discuss what this could mean for the economy and the greek market is the at

vonnie: vonnie: live from new york, i'm vonnie quinn.ok at the biggest business stories in the news right now. shares of french bank fell to their lowest in three years. an investment fund owned by the bank. there are concerns about liquidity and corporate bond holdings. deutsche bank faces a criminal investigation over money laundering allegations. according to the new york times, some of the transactions being looked at arlington to president trump's son-in-law, jared kushner. bush a bank has said it is cooperating with government -- deutsche bank has said it is cooperating with government investigations. that is your latest bloomberg business flash. guy: time for our stock of the hour. let's turn our attention to oracle, stocks up 8% today, surging very sharply, trying to get a new record high for the company. let's find out what is going on. kailey leinz has more. kailey: this is a pretty rare gain on the back of earnings. it has fallen six out of the past seven. this is the biggest posted gain for oracle since the first quarter of 2

vonnie? vonnie: the fomc meeting setting high expectations for rate comes in the dollar firmly on offer, against any yield currency. already takens out its previous intraday high. --are joined by the author we are joined by an author, ben styles. thank you for being here. ben, it feels like this was a week of coordinated global central bank action. do you agree? ben: donald trump was not too happy with mario draghi's action in europe, but this week was all about central banks. particular, -- in particular, it takes a while from turning around from tightening to loosening. but the fed is going in the right direction. gold,: this is a bond, oil rally for different reasons, but where does this signal the u.s. economy is going? how deep into a recession does it look like we are headed? sciencee economic continues to be pretty good. but most of the other signs have been weakening. going to bention is on osaka next week at the g20, where we will finally get some clarification perhaps about what don

vonnie: and your son turns to?'m excited for that and we have identical twin girls on the way. vonnie: have you picked up names for the twin girls? that we will keep along with maddux and x. -- bringing him back fullthey are coming soon -x and lennox. vonnie: i think that is a bloomberg news exclusive. i was going to suggest if you are not picked names you would call one pebble and one beach. next year your at winged foot. i assume you will be descending to win like brooks was good what are you going to have to do it when foot to win again? gary: i have to contend. i have to be in the moment. that is a hard golf course. it is a beautiful golf course. you have to boil in the emotions. the emotions will be huge. the energy will be a big. the atmosphere will be amazing. i look forward to defending. vonnie: mental acuity has been upped a level in one weekend. is there anything to it? is that a truck? is it your time? gary: it is experiences. i played with tyler in the final group. i learned a lot from that experience -

vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." guy: we are coming towards the end of the week, and of the quarter, and of the half. -- end the quarter, and of the quarter, end of the half. pound up . glencore down under significant pressure. we understand that nine people have been killed in a mining accident. as we get more details, we will bring them to you. the stock down by 7%. vonnie: in the u.s., the s&p 500 holding onto some gains, just about 1/3 of 1%. walgreens helping that out. not so much for conagra. they see an increase in the price of steel thanks to tariffs , so conagra is not doing well today. down 2.1%. there is a takeover attempt. it is being bought primarily for some of its features. guy? guy: g20 leaders meeting in osaka this weekend. we seen the chinese president arrive in the u.s. president arrive. investors watching for the outcome of the bilateral discussion between these two gentlemen, in particular whether or not we are going to make progress when it come

this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn.ideo sharing site video has a new offering that will let this is billed netflix-like services. earlier, i sat down with the ceo anjali sud, and what she is watching as antitrust and privacy investigation take center stage in the tech industry. any user think for , itrated content platform is good that there is a discourse around topics like , andrust or privacy clearly, more scrutiny is needed. roleimeo at least, the that we expect to play is we will continue to partner with any entity that is looking to make sure that platforms like us are operating responsibly. that is the text we are taking. i imagine google should be taking a similar tack. vonnie: i know you consider you to more of a partner than a competitor in many ways, but how good of a job is you two doing controlling inappropriate content? u2, as well as vimeo, all ugc plant arms, we could all be doing a better job. that is quite clear. we are all constantly investing in things like trust and safety, what are the right guidel

this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn.ttemptt donald trump's to transform american health insurance is almost complete. he threatened to use executive power to do what congress failed to legislate. next week, he invest the last set of rules. >> thanks to the changes we are estimated 11 million americans will now choose their own plans with the help of the hra. this will increase the size of the individual market by at least 50%, improving choice, promoting competition, and lowering costs for the american people. us now is karen ignagni, president and ceo of emblemhealth. she had been an advocate of the aca and critic of the trump administration in the past. that was friday. more recently, you said that he would overhaul the aca once more , would unveil that in a month or two. how concerned are you about the next phase of what president trump wants to do? karen: the most important thing is to step back and for us to have a broad discussion about the future of health care, which is happening organically in the political aren

this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn.ake a look at the shares of alphabet and facebook. the companies appear to be set to undergo a u.s. antitrust probes after the company decided to split up oversight of the technology giant. down 7% for alphabet. more than 7% for facebook. today, ceo tim has taken the stage at the wwdc conference. we will bring you headlines as we get them. time for the latest bloomberg business flash. for years, it's been tesla's secret source of cash. since 2010, the carmaker has taken in $20 billion for selling greenhouse gas credit to other automakers. they needed that to offset sales of polluting vehicles in the u.s. general motors and fiat said they made those credits this year. chipotle could face $50 million in cost if the u.s. imposes tariffs on goods from mexico. the highest ticket item, avocados. the chain says it will not resort to cream mashed or processed avocados, which would be cheaper. shares of alphabet have fallen to a five-month low. google is facing an antitrust investigation. rule

vonnie: and i'm vonnie quinn in new york.roadcom tumbling today after the semiconductor manufacturers cited the impact of the boiling trade war between china and the united states. for more, let's welcome michael mckee. that orderso say are already suffering, michael? michael: we have seen it for a while, over the past year business lending has ratcheted back, even in light of the tax cut that companies got. the only thing people can attribute it to is uncertainty what isture policy, and driving uncertainty for most companies is the impact of the trade wars. amanda: we are getting some specifics here. broadcom, one of the things that is rattling the markets is they are saying it is not just huawei , other customers are slowing down on their orders. at what point do we start to extrapolate rum that beyond chips? this might be the canary in the coal mine, but there are other businesses saying that there is no quick and insight to these trade issues. michael: at this point it does not look like there will be a quick end. the pre

i'm vonnie quinn. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are our top stories from around the world that we are following. chairman jayve powell signals openness to cut interest rates if necessary. we have all of that fed speak next. president trump says the u.s. and the u.k. could as much as triple their trade after brexit. and upbeat on uber. the general atlantic ceo on why he is so bullish on the ridesharing company. kailey leinz is with us halfway into the trading day. no signs of this bounce letting up. and being aided by those dovish remarks from jay powell. the dow and the s&p 500 on pace for their best day since january. the s&p up by 1.3%. the nasdaq up more than 2%, recovering from the painful day yesterday. within the tech sector, it is the semiconductors really outperforming. , onphiladelphia index up pace for its best day since april. take a look at d6-day chart of the u.s. 10 year yield. that rally that we saw a really reversing today. up by sev

this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn in new york.mber: i'm amber kanwar in toronto. this year's hottest ipo is continuing to impress wall street. beyond meat was already up 400% since its ipo. shares rising as you can see, almost 31%, after reporting earnings for the first time as a publicly traded company. romaine bostick is here with what is behind the meat substitute surge. analyst struggling to keep up with their price targets. this is a company that promised big topline growth. i guess they deliver this quarter. the expectation was they would have revenue this year of $205 million. they came in with a forecast of 2100. . now the estimate is for 215. we are going up to 346 next year. by 2022, 751. not spectacular numbers when you look at them on a comparative basis, but the growth trajectory is there. if you factor in other things that these analysts are looking at, they say within the next five to seven years, this could be a company with a billion dollars in sales. vonnie: i know you have sampled -- romaine: i do my research. v

our bloomberg tech editor joined vonnie quinn with the details. alistair: this is an executive who was talking to investors and other people in taiwan, and our reporter in asia, debbie wu, was there to listen. this is more of a plan. they did not say apple asked foxconn to do this yet, but he was saying they are very capable of doing it. it has raised a lot of questions. we spoke to an analyst over here who looks at the smartphone industry, and he was saying that if you're talking about actual final assembly, which is what foxconn does, putting together all the components in an iphone -- if you are talking about that, it might be relatively easy to move. if you are talking about the whole manufacturing process for an iphone, that would be a lot harder. vonnie: we know that politically china and taiwan are a little bit at odds. is there any danger that china would retaliate against the company if this were to happen, if apple were to move all of its production to the taiwanese company? alistair: yeah, that is a very good question. apple has got to

this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn.lth management has been a busy deals this year with morgan stanley and goldman sachs moving the needle on acquisitions. raymond james is one of the largest platforms in the u.s. with nearly 8000 advisers. has been a busy deals this year with morgan stanley and goldmanpaul reilly,n with bloomberg to discuss the business and regulations as bigger players continue to look for growth. >> there are plenty of firms competing, lots of consolidation. certainly, they have become more active. we have always had good competitors, so i'm not worried about that. they are certainly good at what they do, focused on for -- certain parts of the market. i'm very happy with our success, we continue to have record retention, record recruiting, great growth. our advisers seem to love our platform, especially the technology we have rolled out in the last couple years. why are banks doubling down on the above management business, why is this more attractive than trading or other places in the financial servi

take two interactive ceo joined vonnie quinn to explain. are showing "borderlands 3," which comes out september 13, obviously the third in the borderlands franchise. we are super excited about it. we have a hundred different stations where you can play the game here. people are really excited to be playing the game. vonnie: in terms of the pipeline, what do we expect from take two beyond that? a lot of people are talking about "red dead online." it exited beta in may. should we anticipate more of "red dead?" strauss: you should be expecting more content for "red dead online." that is what rockstar games has said. more content is also coming in for grand theft auto online, which continues to be a big title five and a half years after the initial release. in terms of upcoming releases, we have nba 2k coming, wwe 2k. this should be a very exciting year for us. vonnie: are you interested in bidding for any other sports licenses? you mentioned nba. you also have wwe. what else are you interested in? strauss: well, the sports business is pretty w

vonnie: we are seeing more and more subscription models.r plan for subscriptions and indeed for streaming, strauss? are you launching your own platform or anything like that? strauss: we would want always to distinguish between a technology streaming and a business model subscription. and we are interested in both, but they are very different animals. of course you could have a subscription business without streaming, and you could have streaming without subscription. we are excited about the upcoming launch of google stadia. we are excited about many potential developments in the market. we are supporting google, we are supporting microsoft, and i expect we will support others as well. subscription vehicles, many are being developed, some exist already. we support game pass on certain titles. we are open-minded. in terms of a direct to consumer presence, we have our own small direct to consumer presence, and we are obviously looking at that market as well. our view is generally speaking when people look to acquire entertainment properties,

vonnie: we know that politically china and taiwan are at odds.s there any danger that china would retaliate against the company if apple would move all -- were to move all of its production to the taiwanese company? alistair: that is a good question. apple has to be careful in general with this kind of thing. some of the activities going on with huawei in the u.s., where the u.s. government is encouraging companies and consumers to steer clear of huawei. that has really raised concerns about what happens to the treatment of apple in china. there have been a lot of concerns that there has been an unofficial recommendation that chinese consumers not buy iphones. that market is really important for apple. it is a big risk. vonnie: hon hai, of course also known as foxconn, had a plan for a wisconsin plant. that would have employed 13,000 people. does its plan for wisconsin changed materially at all? alistair: the executive who was speaking yesterday seemed kind -- pretty bullish about the wisconsin plant and he kind of placed it in the same strategic