joe: i am joe weisenthal. "what'd you miss?"nvestors sold around $40 billion worth of emerging market assets, the worst since 2008, divided between debt and equity. alix: unreal. top headlines this afternoon. twitter has selected jack dorsey as permanent ceo, according to recode. the job onbeen doing an interim basis for three months. dorsey will continue with square, where he is also ceo. joe: on the subject of new ceo, porsche appointed oliver bloom. the production chief will take over october 1. the management shuffle follows revelations of an admission-cheating scandal. -- emission cheating scandal. 78-20 tally and artist -- endorsed an approach, house republicans want to use the must-pass measure to defund planned parenthood. those are some of your top headlines. joe: we are back with george from wells fargo. one of the things we are looking companiesen angels, that are not junk, but could be. where are we with this? what we looking for? >> the credit cycle seems to have read -- have turned. updates in terms of credit ratin

joe: i'm joe weisenthal. "what'd you miss?"et: which politician suggested there ought to be a maximum wage? joe: the answer, jeremy corbin partyhe opposition labour , referring to the u.k. this intersection of new media and radicals being elected all over the place will stop -- all over the place. exciting times. scarlet: you have been out front on this from the get go. all right let's get to some top , headlines. we begin with bernie sanders, his schoolmate in the u.s., surging to a double-digit lead against hillary clinton in iowa and new hampshire, and iowa democrats. neighboringdge in new hampshire. vice president joe biden, by the way, third. even though he is not officially in the race. joe: facebook says it is stepping up efforts to target racist posts on its german website. they are targeting posts and monitoring suspects' hateful posts. scarlet: and a traitor sent to jail for rigging a key interest rate is appealing his conviction and sentence. tom hayes was found guilty of relating libor while working for ubs and citi

joe: i'm joe weisenthal. "what'd you miss?" as we have seen in the past month, there has been a lot of volatility in the market and there is concern it could lead to trouble with startups. joe: alan patricof helped grow such companies as apple, aol, and office depot. he's the cofounder of greycroft partners and joint us now. alix: thank you for joining us. what a pleasure. alan: nice to be here. alix: when you see oil volatility and china falling off a cliff and massive volatility in the markets, what do you think? alan: i think it's amazing the venture capital community has blinders on and be start up -- the startup community has blinders on. whatee them and you think, does it have to do with me? i have been saying this for years -- it's hard to reconcile the fact they seem to be in two different trajectories. if you are raising money on a private transaction startup right now, and i said to them, you realize the stock market's down a thousand points right now, they would say, so what? to get themard conceiving of that. as a r

i'm joe weisenthal. i'm scarlet in for alix steel. ♪ scarlet: a late selloff in biotech shares disrupts our rally. joe: the question is "what'd you miss?". janet yellen says policymakers expect a rate hike, but our investors convinced? we have the charts. scarlet: speaker boehner's plans to quit gives the market jitters. joe: president obama will meet vladimir putin in new york on monday. why this could be vital to global markets. scarlet: we begin with the markets. it has been an up-and-down day. s&p 500 little change, even within the sectors. an interesting divergence with financials being the best performer. biotechs really down. joe: we had a huge surge in the wake of janet yellen's news. they seem to like the slightly more hawkish yellen. it really gave it up -- the by a the biotechs got obliterated. a brutal dive. everything sells off. scarlet: everyone trading on momentum stocks now. -- everyone is hating on momentum stocks now. joe: everybody blames hillary clinton's tweet, but there has been thi

joe: i'm joe weisenthal.x: we asked what deals exxon is up to in west texas. joe: acquisitions with -- hedge thrillers. exxon is driving a hard bargain. alix: a huge scoop by the way. this was awesome. exxon it is changing the way it does deals. joe: we take a look at one call made by davis schall. negative returns for s&p 500 and the 10 year u.s. treasury, this hasn't happened since 1969, but i believe it will happen this year. david joins us now from raleigh, north carolina. is the year playing out as you expected it? david: i think it is. i think there is this belief that stocks and bonds are going to move inversely and that has been the case but since the crisis we are in on charted times. the fed has amassed a quantitative easing policy. i don't think they can necessarily be expected to continue in the future. alix: how much of the 10 year yield has to rise to have a negative return and get to the level you think? david: you're asking me math on the air. probably around nine or so. i think what i calcula

joe: i'm joe weisenthal. "what'd you miss?"hich politician suggested there ought to be a maximum wage? jeremy corbin was referring to the u.k.. is fascinating -- this intersection of new media and radicals being elected all over the place will stop -- all over the place. you have been out front on this from the get go. let's get to some top headlines. we begin with bernie sanders, surging to double-digit leads in iowa and new hampshire. a new poll shows him 10 percentage point ahead of hillary clinton and he has a 22 point edge in new hampshire. joe biden ist third in both states even though he is not officially in the race. joe: facebook says it is stepping up efforts to target racist post on its website. posts andargeting monitoring suspects will hated -- hateful posts. scarlet: and a traitor sent to jail is appealing his conviction. tom hayes was found guilty of relating libor while working for ubs and citigroup will stop a london judge must decide whether to let the appeal go forward. i want to bring in our next guest, mark

joe: and i'm joe weisenthal. [closing bell] alix: u.s. stocks closing higher after hawkish comments from fed officials. joe: the question is, what did you miss? state of confusion, the markets just don't know what to make of the rate hike. alix: will the new syriza government able to enforce so much austerity? alix: and the single biggest risk for the u.s. energy business is laying out right now and everything is on the line. alix: we have to begin with the markets. the dow is recording a triple digit move for the 18th time in the past 23 sessions. the idea that we are moving these immense volatility daily sessions not necessarily fundamentals, yes, we obviously do market rally -- it did see the markets rally, but obviously. joe: it was not as crazy as last friday, but we keep getting these interesting move. hillary clinton tweeted a new york times article that said she was going to do something about prescription drug prices. you can see the charts selling all. some interesting stuff happening there. alix: and it makes sense that the mar

joe: i'm joe weisenthal. "what'd you miss?"rading at a six-month low. scandal dogging volkswagen is undermining diesel popularity. scarlet: have you ever driven a diesel? joe: i don't think i have. volkswagenonce had a rabbit that was a diesel and it wrote down and it was like a diesel truck driving through the neighborhood. it was a historic morning on capitol hill as pope francis became the first pontiff to address congress. the pope urged lawmakers to welcome immigrants as humans and islamicf fighting about extremism. in sauditragedy today arabia where more than 700 people died in a stampede. it happened during the annual pilgrimage. saudi arabia puts the death toll at 717 and says more than 860 others are injured. it is the deadliest since 1991 more than 1400 died. in seattle, nine people are dead and two people are hurt after a collision between a charter bus and an amphibious tour vehicle. the insidious military style vehicle is operated by a company known for exuberant drivers with tour guide to play loud music as they t

joe: i'm joe weisenthal. alix: another crazy day, u.s. stocks closing lower. and apple slumped after unveiling new products. joe: the question is -- "what'd you miss?" it is all about apple. a new wave of products. investors are not impressed. can the biggest company lead again? alix: citigroup makes a bold call. a 55% risk china will spark a global recession. we will dig in the report. joe: we just witnessed the worst commodities slump. how did this rout affect copper? alix: we begin with the markets. joe, first of all good to have , you back. getting back together. take a look at this extreme decline we saw in the doubt. at one point, the dow was jumping 172 and now we're closing lower by 237. it is like a 400 point swing on relatively little news. there was no catastrophic news. joe: it really wasn't. it felt like the volatility was going behind us. we hit a big global rally. huge night in japan. over 7% in the nikkei. gains in china. it looks like we would have a solid day. yeah, the markets open higher in the lower and really crumbled. alix: you can reall

joe: and i'm joe weisenthal. what'd you miss?e're back with tom palley of the afl-cio and mike konczal, a fellow of the roosevelt institute. mike, i want to go back to you. before the break we were talking about how there doesn't seem to be wage pressure but we are seeing signs -- mcdonald's and walmart saying they are going to raise wages to my believe delta said they are going to raise wages, a story about ubs having trouble finding hourly workers. on their plenty of signs that the labor market tightness we want to see is happening? ike: again, i don't know if really see it. we don't see it with corporate profits or the capital share of national income, which is one place you could see significant wage growth without actual inflationary pressures, if workers got more of the surplus created by industry. a lot of the job openings happened in 2010 when there was a big shift, and it seemed like there were a lot more job openings relative to the unemployed, and that hasn't really changed much. job openings are relatively high given

joe: i'm joe weisenthal. "what'd you miss?"lix: there has been a lot of volatility in the market and there is concern it could lead to trouble with startups. helped growtricof companies like apple and office deacons -- and office depot. he's the cofounder of greycroft partners and joint us now. alix: when you see oil volatility and china falling off a cliff and massive volatility in the markets, what do you think? alan: i think it's amazing the capital community has blinders on any start up community has blinders on. u.s. them and you think what does it have to do with me? i have been saying this for years -- it's hard to reconcile the fact they seem to be in two different trajectories. a you are raising money on private transaction startup right now and i said to you realize the stock market is down a thousand points, they would say so what? my business is growing at this rate and i have this kind of future. it's hard to get them of conceiving of that -- hard to get them conceiving of that. my experience is private prices hold

joe: i'm joe weisenthal.efore the break we asked what commodity has seen its value drop by more than one third from the past year. joe: the answer is shrimp. americans eat more than any other seafood. every commodity diving everywhere you look. matt: because demand grew so much, production grew even more. joe: there is a glut. matt: but that is good, because shrimp is great protein and protein is in high shortages in other parts of the world. feed the people. joe: puerto rico has a $72 billion debt problem. today's the deadline for the government to come up with a plan to take back the debt. -- payback the debt. it will include revenue spending predictions for the next years. kate smith is a municipal bond reporter for bloomberg who joins us now. why is today such a big deal? kate: apparently the government -- governor is going to finally get a copy of what you were mentioning, i've year projections of revenue and expenditures. tomorrow it will be announced to investors in the press. but he is going to get --

joe: i'm joe weisenthal. "what'd you miss?" are back with austan goolsbee, andrew levin, and steven englander of citigroup. the ratesople think will go and one of the things that really stood out was that in 2015 and 2016, one member for the first time called for negative dots, that rates should be negative given the environment. nobody knows who it is because some arenymous speculating it is someone from .he minnesota federal reserve he has unconventional views. should it be a tool that the fed considers at some point in the future as a stimulus measure? to see aes and no p negative number like that suggests it was somebody who was an academic economist, because the puzzle of zero lower bound of the way that academics raise it is the real interest rate ought to be negative but they cannot get the nominal rate down past zero. been kocherlakota. i'm not sure. alix: the idea is there needs to be more stimulating the economy. would you agree with that, austan? austan: absolutely. that is what the person is saying. not only should

. ♪ joe: i am joe weisenthal. alix: i am alix steel.efore the break we asked you to get ready for the coal industry. group, payenergy zero dollars for an energy unit. they would receive 60 million if coal prices reached a certain levels. alix: you can see that coal is at a decade low. mounting regulation. joe: global head of rates research at deutsche bank, it can never raise rates, the fed, if they discount lower rates. they can only raise rates when the market is begging for it. how do we know when? >> i think you have to give the market a lot of credit that it understands things better than members -- and it would be good if the fed were not too shocked the market. obviously, there is a danger of that. some people think the selloff was because of the fed. we were going to go down regardless. the market will tell the fed when they are ready to hike. the idea of communications and being very open about communications. alix: what do they need to do? what would you need to see? >> the recognition of the problems out there is a good one f

joe: i am joe weisenthal. trigger laws required states to return money to taxpayers.porters of trigger laws say they help government growth. opponents say it disproportionately helps the rich. they are taking money out. later on, a problem again. maybe it will boost the economy? chief is theand new volkswagen ceo. they are confronting an admission scandal that is the biggest crisis. he replaces the ceo who resigned yesterday. finesre facing potential and a criminal probe in the united states. ope praised iran's accord and called for the elimination of all nuclear weapons. he paid tribute to the victims of 9/11 with a prayer service. >> the u.s. and china have reached a deal on broad hacking principles. pact marks a first step towards resolving a major issue. they outlined measures to reduce global emissions. a state dinner is tonight. one of the big headlines was the resignation of john boehner, one day after the pope addressed congress. >> we witnessed the awesome site of pope francis addressing the greatest legislative body in the world. all heed hise will call to l

joe: i'm joe weisenthal.x: we had a chart that shows he hasina may not been a position as you think. this orangeed line is rising. it shows that credit is growing again and hopefully it could show an increase in growth. you can leave the gdp. alix: one company that is happening for a stabilization and chinese economy as 14. -- is glencore. its stock fell almost 30%. joe: i have been battered after investors were treated to commodities after the slowdown. us to the question of how much value will be left for equity holders of commodity prices do not improve. in the current climate data is becoming the most important consideration. alix: all of their money's going to be paying off debt, forget about equity value for shareholders are that is a crazy call. joining us is our bloomberg columnist from san francisco. i must say that peter is the lo.irman of p. you have a car today. today. them out >> think that is a short-term issue that needs to be dealt with. love, -- measures last last month, it has not stopped th

joe: and i'm joe weisenthal. people and started bringing money back into the country.ake a look at this chart last year through june. outflows amounted to 77 billion euros. in july and august, the flow reserves -- reversed and about 6 billion euros came back in. in no changing of the guard tsipras execute the necessary reforms? david is here with us. david: i think they have a good chance. he abandoned most of his marxian principles, because they would have driven the country to abandon him or bankruptcy, a growth -- or both. -- i think het comes from a different breed. think he has a chance of knocking the oligarchs down and doing some things that could make a difference in greece. he haseful for it, but had to change his stripes completely. he is a different guy now, and we will see. but if there is someone who could actually do it, it would be him. it doesn't make me super excited about investing in greece, but it is probably a lot safer than the current crisis. obviously, it looks like the government could be more stable and there is still this lurking radicalism.

for more i am joined by my cohost for what you missed, joe weisenthal -- for what you saw, joe weisenthalcrisis could accelerate this whole phenomenon of radical anti-immigration right-wing parties. something that was fascinating and the greek election was on the greek island where the refugees are making their theance was a big spike in number of supporters for the golden dawn, which many would describe as a neo-nazi party. -- gotden dawn gotten third place overall. you saw those gains were people were experiencing the refugee situation firsthand. people may be changing their stance based on the immigration crisis and how germany and france are different. we will be talking about this story with david jervis of jeffries. joe: he has a better understanding of the intersection between politics and finance then i would say just about anyone. alix: it should be a great conversation. thank so joe weisenthal. eastern.t 4 p.m. we will be hearing from jeffrey, the chief market strategist. anything you name it, we got it. coming up, health care officials are outraged after from a cynical's raised

angie: joe weisenthal. time now for a look at the stories on the corporate terminal. ahn. sherry: the fallout from brazil's biggest scandal is widening. the offshore contractor is being linked to the petrograd corruption inquiry for the first time. a former executive has testified that someone pretending to be a transocean employee bribed him to win contracts. downs facing calls to step despite saying she knew of no wrongdoing when she was petrograd chairwoman. facebook is betting on virtual reality. sellculus unit is going to movies through the vr headset as it tries to make the device appealing to the average consumer. customers include 20th century fox and lions gate as well as streaming services like netflix and hulu. google launches a headset next year. sprinttrying to a -- end years of subscriber loss by giving away iphones. they are releasing the new smartphone for a dollar a month. customers will need to create in the old phone. those are your top corporate headlines this hour. i am shery ahn. angie: nike is jumping higher today. the company's stock price, tha

joe: and i am joe weisenthal. alix: u.s.ng down across the indices from caller to oilwell treasuries rallied. joe: the question is what did you miss? the day after stocks fall as markets react to the fed decision. the watch begins for a possible october rate hike. dark forecasts. that stocks and bonds with both fall this year, something that has not happened since 1969. joe: we take a look at europe involved in the refugee crisis and why it matters. alix: we begin with the markets. saw things go lower. it really picked up some steam in the last half-hour. jo

joe: i am joe weisenthal. ♪ alix: u.s. stocks fluctuate after racing an earlier loss.se for the first time in four days area joe: joe: the question is what did you miss. alix: how low can you go when it comes to oil? goldman sachs has possibly $20. others liars think it is drying up. joe: europe's yesterday crisis this refugee crisis. -- europe's refugee crisis. call dateher pla overall.- calm day

joe: i am joe weisenthal. hurting mongolia, indonesia, and kazakhstan.fer a 2.7 percentage point decline in gdp for every 0.27 percentage point in expansion. that is a crazy correlation. the second part of our series focuses on a critical time for oil companies. banks will assess how much to lend taste on reserves and prices. lot ofs down 50%, so a companies could find themselves in a big cash squeeze. the names in the index, we will see a three-year average default great of a percent. issuersl be about 45 over 2015, 2016, and 2017. we are well on our way here. we think that it gets worse before it gets better. now is ryan, as houston-based energy advisory firm. he has advised on restructuring. thank you for being here. when a company constitute comes to you and says this is my debt load. i am looking at bankruptcy. >> great question. it is one that we are getting increasingly, and one -- we've had a number of these conversations over the past year given where we have seen oil september,ense october, november of last year. what kind ofng is liquidity pos

joe: i am joe weisenthal.x: before the break we talked about -- joe: the third-largest shareholder of volkswagen and recently lost $4.3 billion in recent days. check out this one week stock chart of the plunge. this is also the largest investor in beleaguered glencore. alix: ugly. top headlines. china's president says that the country will work to remove barriers in property protection. speaking at a conference in seattle, said the chinese economy has the potential and progress will not be possible without reform. he spoke before scores of top business executives. joe: joe biden has not said whether he will run for president, but he is getting support from democrats. according to a new poll, 25% of democrats say that biden is their top choice, hillary clinton leads at 33%, and bernie sanders at 24%. alix: and instagram has surpasses 400 million monthly users, that is more than twitter. many are outside the u.s., the growing growth is from brazil and indonesia and japan. the last part of our series on capital m

david gera in fort joe weisenthal. alix: u.s. stocks closing lower.nable to shake off the volatility. is, whatt the question did you miss? alix: the only certainty is uncertainty. david: plus insideay

thank you joe weisenthal.g up on what you miss at 4:00 eastern right here on bloomberg. , and economic catastrophe is looming according to carl icahn. it will tell you who was to blame, or at least to carl icahn flames for it. ♪ pimm: this is the bloomberg "market day." iamb pimm fox. time to take a look at markets as we approach the close of trading. julie hyman in the newsroom. the s&p 500 will need a rally in order to end the losing streak. isie: yes, and the clock ticking. the major averages lower. the s&p 500 off more than 3.5 point. all of the bouncing around during the session. take a look at the s&p during the intraday basis. here is the unchanged line. the gray line. you can see how many times we have seen across above and below. you get the idea. a lots of volatility in today's session above and below unchanged. we have seen fluidity in the groups in the s&p 500. the volatility within them as well. take a look at the imac. health care bill remains the best performer. now upup as much as 2%, at half o

joe: and i'm joe weisenthal. alix: u.s. stocks adding to yesterday's rally. policymakers began a debate on raising rates. oil rising to a one-week high. joe: stress tests. one day to go before we find out the that decision on interest rates which will put global markets to the test. alix: the holy grail of 2% inflation is the fed goal unattainable? what do google and amazon have to do with inflation misses? we have to begin with the markets. stocks closing around the high in the session. extending the rally for a second day. it has been a lot of momentum in terms of stocks and treasuries that perhaps can handle a fed rate hike. be: markets do not appear to unhappy about a rate hike. not only are people bullish in terms of the stock perspective but people are ok with the idea that interest rates might be rising. alix: jpmorgan says if they don't raise it will be a disappointment. today was different in that it was about oil. intraday oil chart, inventory numbers came out, oil storage. -- oil stored. -- soared. joe: in addition we saw copper again, emerging-mar

joe: i am joe weisenthal. this is what the u.s. -- what did you miss.ou can see three points were the fed hiked. 3.9%.dp growth averaged alix: we are not there. we're back with jan hatzius . a risk. there was there is a divergence here. what is this part line telling you about actual conditions ja?: jan: the a low-lying is are we -- weightedof average of long-term rates and credit rates. the weeks are chosen to mimic the impact of each of these variables on gdp growth over the next year. when it is high that means we restrict the negative impulse and vice versa. is essentially our rules for financial conditions. we have a federal reserve that would like a natural conditions bench how far the way our away the -- how far away they are, when the inflation is high and the economy is overheating. now, the line is relatively low because inflation is quite low rate but actual financial conditions o have tightened quite sharply. there has been a lot of tightening that the markets have put in place right there is an incentive for the market to push against the t

joe: joe weisenthal. "what'd you miss?" alix: the rate decision of england is coming tomorrow.nt to hear about the recent volatility in what the bankers really thought about considering they want to raise rates sooner rather than later. joe: it is fun to see the vote split. another day you do not want to miss is the bloomberg consumer index comes up. bloomberg also has a consumer confidence comfort index. how mucho figure out the recent stock market volatility is affecting household and how people feel about consumption and all of that. we will get another glimpse of insight with tomorrow's report out at 9:45 a.m. alix: if we still buy stuff. sayproducers are making gus the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because

joe: and i'm joe weisenthal. [closing bell] alix: u.s. stocks closing higher after hawkish comments from fed officials. joe: the question is, what did you miss? state of confusion, the markets just don't know what to make of the rate hike. alix: will the new syriza government able to enforce so much austerity? alix: and the single biggest

joe: i'm joe weisenthal. >> -- any asset class that would --s markets closing out the most volatile quarter markets. alix: what a mess. 2015 turning into a year to forget. joe:

joe: and i'm joe weisenthal. ♪ [closing bell ringing] alix: u.s.osing higher today, rebounding from a selloff yesterday, but well off the highs of the session. joe: but the question is, "what'd you miss?" ripples before the storm. choppy markets today as all awaits the looming fed decision. u.s. stocks rise and we take a look at hard numbers. alix: and the doomsayer -- our interview with an economist to

joe: and i am joe weisenthal. alix: u.s.wn across the indices, treasuries rallied. joe: the question is what'd you miss? the day after stocks fall as markets react to the fed decision. the watch begins for a possible october rate hike. alix: dark forecasts. that stocks and bonds with both fall this year, something that

david: and i'm in for joe weisenthal. [closing bell ringing] alix: u.s. stocks closing mixed after the erasing an earlier rally. investors are looking to tomorrow morning's jobs report. david: the question is "what'd you miss?" alix: could september be the best time to raise rates? why one top economist thinks this month is the charm. david: plus jobs, jobs, jobs. we will have the top charts you must see before the numbers cross. alix: and with chinese markets still close after so much turmoil, fear grows about what will happen when they reopen. but we begin with stocks. another whiplash feeling in the market. the dow was up almost 200 points, now ending up 21 points. the nasdaq negative and now negative on the year again. david: health care was the only laggard. i want to take a deep dive into my terminal. the big news today was when mario draghi spoke after the ecb meeting. also incidentally, his birthday today, turning 68. when he may this announcement that rates are going to stay the same -- not much movement, but opening the door to further quantitat

joe: i am joe weisenthal. welcome to a special one-hour "what'd you miss?" on today's fed decision.x: u.s. stocks closing mixed after the federal reserve leaves interest rates unchanged. treasuries rallying while the dollar tumbles to a three-week low. joe: but the question is, what'd you miss? doves prevail with interest rates unchanged. all eyes on october. will the fed even make a move this year? alix: we size of the fed's 2% target. joe: and how is turmoil on the global market influencing the fed's decision? if the factor driving volatility. alix: of course, we begin with the markets because a whole lot of nothing happening in the markets. the s&p spiked higher as the decision came out. and slowly as the

joe: i'm joe weisenthal. alix: another crazy day, u.s. stocks closing lower.le slumped after unveiling new products. joe: the question is -- "what'd you miss?" it is all about apple. a new wave of products. investors are not impressed. can the biggest company lead again? alix: citigroup makes a bold call.

i am joe weisenthal. scarlet: and i'm scarlet fu in for alix steel.ts away from the closing bell. ♪ [closing bell ringing] scarlet: stocks flipping days before the fed's key policy decision. emerging-market assets gaining ground. joe: the question is "what'd you miss?" it is fed week and we are doing the countdown.

i'm joe weisenthal. in for alix steel. ♪ scarlet: a late selloff in biotech shares disrupts our rally. joe: the question is "what'd you miss?". janet yellen says policymakers expect a rate hike, but our investors convinced? we have the charts. scarlet: speaker boehner's plans to quit gives the market jitters.

david: and i'm in for joe weisenthal. [closing bell ringing] alix: u.s. stocks closing mixed after the erasing an earlier rally. investors are looking to tomorrow morning's jobs report. david: the question is "what'd you miss?" alix: could september be the best time to raise rates? why one top economist thinks this month is the charm. david: plus jobs, jobs, jobs. we will have the top charts you must see before the numbers cross.

david gera in fort joe weisenthal. alix: u.s. stocks closing lower. markets unable to shake off the volatility. is, whatt the question did you miss? alix: the only certainty is uncertainty. david: plus inside today's big jobs report. the unemployment rate drops to a seven-year low. we'll break down the numbers. alix: and the great rate debate. we'll ask a former adviser to fed chairs to weigh in on whether it is time to hike. but first, we have to begin with the markets. yes, we're finishing off with the dow down about 270 points but that is kind of a comeback. david a crazy week. : alix: our session lows we were off by about 348 points to the dow and we really came back in the last sort of half hour of trading. david: absolutely. what was interesting to me this week were inflows. i was looking at this note from a strategist at jeffries and he was saying over the past week global equity markets saw an , inflow of $11 billion net and pointing to this chart there was a big switch from developed markets to emerging markets. you see the split there. last

i want to bring in joe weisenthal.n how the fed is falling short of its inflation will. not just now but the much across the goal. joe: this has been the briefing. everybody knows they are doing all right on the employment side. they are getting pretty close to what to be ought -- what ought to be full implement paired but they don't seem to be trending in the right direction. if you look historically, they have almost always been below their target on inflation rather than about it. one question that it raises is 2% really a target? the economy acts more like it is a ceiling than a target. potentialthere are expeditions for why you see this chart, witches the fed efficient target never being hit over the last 20 years. part of it is technological advances. i zeroed in on oil. you have better equipment for fracking. you have more supplied. oil prices go down. that is deflationary. joe: look at japan were the inflation rate is really low and you see really low on employment unemployment.inte these big factors -- and it'

staying with the markets, i went to bring in joe weisenthal, my miss?" we were unclear with the markets, and now we are down. are thispy and we morning around 2:00 a.m. futures fell out of bed when the european markets opened. volkswagen continues to get slammed. does not really explain why all int the market would all die unison. and ugly, sloppy day. one thing we talked about is how bond yields have held up. that did not happen today. we saw them go down. the dollar up. the classic risk off day. not a great explanation. when it comes to oil prices, i mentioned earlier the market is really taking it to from the oil rice. oil down. why? earlier this morning there was a forecast out from the asian development and talking about slower growth in china. is lower growth in china really that interesting at this point yeah so it was a weird day where people have been grasping for explanations of what is going on. alix: we will be talking about this very topic with dominic globaler, deutsche bank reit strategist to get an idea. he is really into talking about in

joe weisenthal changed the dialect and the cadence of journalism.t to traditional journalism. this morning, he ever so modestly caches in with henry blodget and others as they unload business insider to axel springer. >> right off the bat, conflicted talking about this. i worked there for six years. . started very early on i do have a tiny slice of equity , which i will now be selling, so i'm happy. tom: you will be able to buy a one bedroom apartment. joe: exactly. beginning, this is about henry having a distinct vision that internet journalism was going to be different than any other thing -- in: what was his practice the first meetings where you said this guy is doing something .ifferent joe: when you are a startup in they were not great times for the economy overall. you do not have much latitude. course correct very fast. it is about identifying the stories that resonate with people and hammering them harder and identifying the stories that are not working. mike: here is my question. part,epend for the most other organizations providing materia

david: and i'm in for joe weisenthal. [closing bell ringing] u.s.ing mixed after the erasing an earlier rally. investors are looking to tomorrow morning's jobs report. david: the question is "what'd you miss?" could september be the best time to raise rates? why one top economist inks this month is the charm. jobs. plus jobs, jobs, we will have the top charts you must see before the numbers cross. and with chinese markets still close after so much turmoil, fear grows about what will happen when they reopened. but we begin with stocks. another whiplash feeling in the market. the dow was up almost 200 points, now ending up 21 points. the nasdaq negative and now negative on the year again. david:

brendan: joe weisenthal telling us everything will be fine here and for glencore.ting more than 100 jobs in his trading division. brian moynihan said in the third-quarter revenue from trading declined about 5%. wall street firms have been cutting jobs as. sally is starting a digital investing platform focused on women. she has big-name backers for venture. el-erian., mohamed lettingill start marketers target specific people using their e-mail addresses. google will get those addresses when people use the company's search engine, gmail or youtube. facebook is offered similar data for years. christmas is 90 days away. l.l. bean is facing the same predicament as the previous holiday season. already on back order. the main shoemaker short of its operating -- it is happening again. they did not clear last year's holiday backlog until july. that is terrible news. coming up, cheap oil, slow growth in china, just what is industrial biotech company to do? ♪ brendan: welcome back to the bloomberg market day. it is cloudy over new york. a lot going on in the markets. cheap oi

i wrote that up with joe weisenthal and chasing alleyway -- and tracy alloway. if we get there, or if the brazilian central bank intervenes. you just heard about the drought in indonesia. that is a new record low, 14,552. vonnie: it is a watershed moment for music streaming. u.s. sales topped $1 billion for the first time. a music industry trade group says sales of services like pandora and spotify jumped 23%. the cost of renting a home rose again last month but at a slower pace. from asays rent was up year ago. rent hikes may be slowing down because more apartments are being built. in monday night football, the new york jets intercepted andrew luck three times and beat the indianapolis colts 20-7. those are your top headlines. were you watching, tom? tom: i did not watch, but i am stunned at that result in that is really cool. it would be something. the red sox are going to do well, the yankees are going to be terrible. maybe the jets will do better. maybe mohamed el-erian will speak to us now. he always speaks to us when the jets win. maybe he will speak to us

i'm joe weisenthal. i am alix steel. ♪ selloff in biotech shares disrupts our rally.hat'd you miss?". janet yellen says policymakers expect a rate hike, but our investors convinced? we have the charts. speaker boehner's plans to quit gives the market jitters. joe: president obama will meet vladimir putin in new york on monday. why this could be vital to global markets. alix: we begin with the markets. it has been an up-and-down day. s&p 500 little change, even within the sectors. an interesting divergence