julie hyman has more. julie: according to a report in "the wall street journal" walmart will be selling part of its china business to jd.com. it is in discussions at this point, but it looks like it could sell 5% -- excuse me, walmart would own 5% of jd sales -- shares after the sale. jd was up on the day but took a like higher after the report. there was a report out on saturday from a business news website in china that jd had reached the final stages of negotiation to buy a business from walmart which was a website it owned in china. unclear if this is the same business, but we will continue to track it. walmart shares, in the meantime, rising on the day along with the overall rally we have seen in the market. up 1.5%. not seeing the same magnitude of gains. it will be interesting once jd opens backup and we get details on what exactly does the deal is. scarlet: in the meantime, as we promised, our mystery stock needs to be revealed. alix has already bound up. today's mystery pic is a slamdunk, even as

julie hyman has a details. julie: the company that spun off from dupont at one point is being mentioned negatively by citroen research. cc is going to zero. there you see andrew left of citroen. it is now halted because of volatility. tweet cameafter this out. we don't have the full report. we will work on figure now exactly what case was made here. certainly, valiant is one of his better known, if not his best known calls. he has made others that have not had much of an impact. but another interesting situation here we will continue to watch it. scarlet: looking at the mours, it chart of che is down more than 50% to since the spinoff. thanks for the update. to follow thate one for you. coming up on bloomberg west tonight, aaron levy will be sitting down with emily chang on first-quarter results. ♪ scarlet: welcome to bloomberg markets from bloomberg world headquarters in new york, good afternoon. here is what we're watching this has a new leader. the newhear from secretary general as the group fails to reach

julie hyman has the latest. fairly positive. julie: the trajectory has declined throughout the day -- the nasdaq is the big winner today. now that the ecb and opec are behind us come investors are looking ahead to tomorrow morning's jobs report. adp's jobsimmer from report. fallingobless claims for the fourth straight week. volume is relatively light. overall for the s&p, 10% below the 20 day average as investors wait for that data tomorrow. a drop in volume in consumer staples. an increase in tech share volume as well as health care, one of the big winning sectors in today's session. peeking above the zero line we are seeing at this point -- lingering earnings and still a part of the story here as we have some winners dimensions they. with sales on service contracts. also cost cuts. mcdonald's also with a positive earnings report. mixedike we are seeing a trade in stocks come if you look at the so-called safety trade, it is not really unanimous. we are seeing some buying of the japanese yen today versus the u.s. dollar. if you

let's go to julie hyman for an update. julie: the global risk on is moderating. giving up a little bit of steam. take a look at the imap to take a look at the groups on the move. here we see much more red on the screen than we have seen in several days. telecoms and consumer discretionary's lower. staples industrials and tech are counterbalancing that. movers, we have to look at the online service that helps folks find babysitters and other people to do things around the home, and alphabet, google capital is taking a stake in the $4.35 millioning in the first publicly traded investment that google capital has made -- in a publicly traded company. you are taking a look at hertz global and avis edge it after -- aviss reached a budget after her rich -- hertz has reached a deal with uber and lyft. jonathan: the nasdaq up 1/10 of 1%. let's cross over to abigail doolittle live at the nasdaq. abigail: one of the worst hit sellers, travel, what we are looking at a rebound. priceline trading higher 1.9% and it was down a staggering 15% for those two days. sees theak says

julie hyman takes on oliver renick. julie: i'm talking about yet another measure of the wealth gap in the united states and people who are catering to it. we are looking at home sales of homes are about $300,000" that are below. this goes back to 2002. in general there are more homes sold that are lower than $300,000. in april 30 4000 of the 61,000 -- homes sold we are getting new home sales data for may coming out at 10:00. economists estimate that that number fell 9.5%. it is very interesting that buildings are catering to the high end of the market much more than the below 300,000 level. david: this is number of houses told. if you took the value, the blue line would be way off the charts. oliver, what do you have? at a way to think about valuations in the stock market. it's one of warren buffett's favorite ways to do it. he likes to look at the market cap on the stock market versus the gdp of the country. the s&p's market cap versus the gdp of the u.s. we have the peaks. what's happening right now, an interesting tr

betty: let's head to the markets desk with julie hyman. market reaction here has what do with oil prices, that is what it has come down to. we heard ryan chilcote speaking with the nigerian oil minister. he expect oil to be at 60 by the .nd of the year take a look at the major averages, they are all down. a lot of that comes to energy . energy down 1%. tech is down nearly as much, three quarters of 1%. health care is the only group on the rise. individually, a mixture that helps explain why tech is underperforming today. target was cut over goldman sachs. they are cutting iphone estimates, that is where the price target cut comes from. exxon mobil falling along with oil prices. employee by a farmer alleges -- former employee alleges she was asked to essentially cook the books and change accounting at oracle. oracle shares are down 4.5% as well. we are at the 10-year note as we watch the actions of the ecb here. we are seeing the yield go lower. the ecb announced details of its corporate bond buying program. we're not looking at this at the

scarlet: julie hyman joins us with more on the impact on markets. there is anxiety that things will not come down. julie: i have not seen many predictions it is going to calm down. you have the fundamental reaction, and that on top of that, you have the technical, programmatic reaction, and that we examined. 2.6 trillion dollars was erased from the value of stocks globally friday. there is an index that measured that. the world cap index. that is the decrease at you had. according to an estimate of the market cap that was a raised in the united states in particular, there is an estimate that quantitative trading accounted for $25 billion of that. programmatic trading is anything triggered automatically. if technical levels reach a certain place in stocks, then that triggers another sell order, for example. if volatility reaches a certain level. etc., etc. the jpmorgan derivatives strategist says forget what happened on friday. there could be another $3.5 billion wiped out as a result of program attic trading. another analyst from ubs says as much as

thank you, julie hyman, and michael mckee. ge has beenahead, making big moves to expand its sales of powergenerating equipment. we will talk about that with the ceo of the ge power division, who has been mentioned as a possible successor to jeffrey immelt. ♪ alix: from bloomberg world headquarters in new york, you are watching bloomberg markets. i'm alix steel. scarlet: i'm scarlet fu. mark crumpton has the first word news from our newsroom. president obama plans to endorse hillary clinton as early as this week. the timing of the endorsement has not been set, but the president is speaking at a democratic fundraiser wednesday here in new york city. mrs. clinton is expected to clinch the nomination on tuesday after six states including california and new jersey hold nominating contests. donald trump is dismissing comments that a judge of mexican heritage cannot be impartial in a case involving him. the likely republican nominee said in an interview, "all i'm trying to do is figure out why being treated unfairly." an internatio

julie hyman has your market check. stocks are hanging onto the gains. >> yes, and sort of strengthening into the close as well. similar to what we saw yesterday, is -- a long and slow climb here and we are still not seeing very big gains across the board. the nasdaq is up about one quarter of 1% or look at the s&p over the course of the session. to see what i'm talking about here with this climb. you look at the chart of the s&p a longand you will see and slow climb throughout the day and people are looking ahead tomorrow morning. perhaps with the federal reserve , june, july, and beyond. looking at some of the other assets we're watching that reflect the sentiment about what the fed will do, we are seeing some buying in the treasury market today. it is pushing yields lower on the 10 year. it has been falling versus the japanese yen. by dollar index a little bit 1/10 of 1%. the most interesting thing we have seen this week is fading productions that the fed will act in june. high as 44%. still more than 50% chance for

scarlet: thank you so much, julie hyman. oliver: the best-performing mine stock in the americas is a vancouver-based company with a big footprint in mongolia for this week. tv canada reporter has more from toronto until -- toronto. has as is a company that big footprint, a footprint getting even bigger because they are in the midst of quite the massive underground expansion in mongolia. the gobiasset in desert, but it's a big one and the speculation this week is that the controlling shareholder rio tinto, which owns 51% of the company, may increase its stake slightly but could also be looking for a third-party, possibly a consortium to buy up the remaining public stake. in other words, to take the company private. that's what fuels the huge rally we saw. at one point it was up 19%. a very nice lift coming on the back of what so far is just speculation. here.s some perspective it's a massive deposit in mongolia. when the underground line is completed, a will be even bigger. he will be the third-largest caulker mine in the wor

julie hyman has the big reveal on the mystery stock. it is time to get back on the horse after a week outlook fell. turning the reins over to a new ceo. x: it is a horse stock. representativea on a horse. ralph laurent is the stock we are talking about. came totively new ceo the company from gap and was head of old navy. he was at h&m and has been there since november. not great news for him today and the stock as he came out with the forecast for this fiscal year that says sales might decline in the low double-digit range. down as ralph lorenz has been struggling sales wise and he is talking about a new restructuring effort. he is doing more layers of restructuring, trying to save costs. he is going to eliminate three layers of management. if you look at how the stock is performing, it is down once again although climbing back pretty considerably from the lows of the day. it looks like there is a little bit of optimism that his turnaround will bear fruit. retailers in general have been struggling recently, trying to figure out what cus

julie hyman has been tracking the mood and this week has not been good

julie hyman has been checking on some of today's winners. although the big indexes are down, there are a couple of gainers. julie: the only deal announced today was not the microsoft deal. it is symantec, buying a company called blue coat systems. it is a much smaller deal, to be fair. it's not nothing, it's not inconsequential. symantec shares have been surging. the company has been trying to remake itself away from its antivirus roots and follow the evolving needs of cyber security. the company is going to get a new ceo. blue coat moving over to take the helm as well. that is another reason we are seeing the shares gain. although symantec has gone through several different ceos over the past several years. nvidia this morning, raised to a by getting a big boost in price over $35.$55 analysts they're talking about higher average selling prices for the chip, as well as some new videogame titles that could by nvidia. exxon mobil today as well, talking about the rally in energy stocks as oil fluctuated, trading at a 52-week high. shares higher

david: i want to turn to julie hyman. julie: not much more than a mess, no. not seeing much difference from before. stocks have been trading in a tight range. declines across all the major averages. they have been bouncing between gains and losses, now all in the red. in the case of the s&p and nasdaq, it is barely in the red. what has been getting more attention throughout the day with the manufacturing data we saw this morning. the beige book commentary not seeming to dissuade any investors from the focus they've had on the u.s. fed and the fact that it may raise rates in june and july. friday's jobs report could be more pivotal for the markets. looking at the various manufacturing reports. china with this line, the eurozone pmi and the u.s. measure of manufacturing. this pink line is the 50 line. the dividing line between expansion and contraction. you saw both the eurozone and all above 50,hina but not much above 50. that seems to because in some be causing some pause for some investors. bloomberg dollar index not seeing much movement in the wake of the b

let's head to the markets desk with julie hyman. julie: we did see new home sales a decline in estimated -- but a decline more than estimated. it was 6% month over month. we got the index of leading economic indicators that felt by 2/10 of 1%. economists were forecasting a gain of 4/10 of 1%. but reaction to the housing number, you can look at the s&p home and, still higher on the day. we will continue to watch homebuilders to see how they are reacting to that. there was an interesting chart that looked at the number of homes being sold that are about 300,000. that percentage of the total has been rising and we will see how that shakes out in this particular month. let's take a look at the major averages. onaking abroad, it is a risk kind of day. look at the a groups on the move on the bloomberg. utilities is the only group trading lower. that is the only small, red slice of the pie. financials are getting the most today. the banks are being very receptive and reactive to risk on an risk off. bank of america all rising. we are getti

julie hyman has the latest on this slight climb. julie: the pullback has moderated. averages areor still lower but the nasdaq in particular is down less than .1% as we've seen stocks come back a bit. energy has been a drag. utilities and health care of the create the list major averages. the nasdaq was the best performer yesterday and the dow was the worst. oilre seeing that slump in that is also moderating to some extent. still down 1.4% at $48.42 a barrel. energydthrough to stocks, we got a call from credit suisse command lists there are mixed on oil services company's. they are putting five of them, raising three of them. -- cutting five of them, raising three of them. hp the worst offender. oil alson and national declining. we've been watching the banks as well today because of these investment banking job cuts we've been talking about. goldman sachs in particular. they cut investment banking jobs over the past few weeks. hsbc also cutting. , withof a downdraft here the exception of jpmorgan which is higher by .2%. we've been seeing a lot of money safe havens.ive

let's turn to julie hyman. julie: everything we have been talking about, how is it playing out in the markets? chiefly among these items as people pushing back their expectations for when the federal reserve may raise rates. that is causing market disruptions around the world. if you look at bond markets, the australian 10 year, the yield is fallen to a 10 year low. you are seeing that play out around emerging markets. market,across the stock you see the ftse 100 rally. but else bears mentioning is the commodity market. it's also on some comments of the head of economic development in abu dhabi. he expects oil to reach $60 a barrel by the end of the year. the oversupply is working down more quickly than expect it. above $50 pering barrel. the bloomberg yandex is rallying. u.s. futures are not changing much at the moment. amanda: here is shery ahn with first word news. ahn: more information from the panama papers. there were at least 2400 us-based clients over the past decades and they set up 2800 companies on t

let's check with julie hyman. julie: m

get acu catch up and glimpse from julie hyman. julie: they are hovering around the lows as well. we are not seeing any kind of rebound really in today's session when it comes to equities whether it is here in the united states or in the european session. the pound is also continuing its downward march. the s&p 500 is a bit slow slightly. it was down below 2000. it is down 1.75%. the selling we are seeing is on relatively high volume interestingly enough. this looks at volume by various sectors and what you have is the volume versus the 20 day average. overall volume is about 60% above the 20 day average. not only do you have selling, but you have selling on heavy volume and in particular within financials, the worst-performing group along with industrials. --ume is about 20 the double is about double the 20 day moving average. we have now gone below that level. this is the 200 day moving average and the drop below it as of today. that is a momentum indicators that could mean potentially more declines. in terms of individual movers, we have been talking about which companies are m

first, let's head to the markets desk were julie hyman has the latest. julie: we have stocks trading a little bit higher as investors tried to figure out what to make a friday's jobs report and look ahead to janet speaking, today around midday. the dow leading the gains as the nasdaq is the lacquer -- lagger. shares up more than 1% as a group and that is the leaving gain in the s&p 500. materials also higher, finance bouncing back from rightist decline, industrials and tech up as well. -- oil could reach $60 a barrel by the end of the year. they did say the global oil surplus is being worked down more quickly than had been anticipated, oil prices higher by 2.5%, still shy of $50 a -- in thethe jewish u.s. iron ore miners and miners of other metals are rallying as we see the underlying metals rally. in looking at the bond market, we saw a big drop in yield on friday following the jobs report. this is the first increase that since may 27, up to 1.73 percent and looking at currencies as well, the dollar strengthening versus the euro, the pound and the yen.

now to julie hyman. julie: the stock is down 11% this morning. ralph lauren saying the company will have a percentage sales klein in the low double digits. iselatively new ceo there embarking on a big restructuring three layers about of management, cutting jobs and calling it his way forward plan. amount toassociated as much as $400 million. the company is saying all of this in a statement. thatin mind the company's sell its goods, department stores, we will watch those as well. retail has been broadly trouble. the latest in the saga of who will acquire yahoo!, the wall street journal reporting that verizon will have $3 billion for the main business, trying to edge out at&t, ppg, other potential buyers out there. those stocks are trading slightly lower this morning. elsewhere, we are watching drug stocks this morning of valeant pharmaceuticals. with apany is coming out forecast for the full-year well below what analysts had been anticipating. it is a forecast coming from the new ceo of the company. valeant says it will file a financial statement

to julie hyman. julie: given the conversation you are having, it is notable that futures are trading higher even as european markets are going down. you see the swiss market, the german market, sweden -- all heading lower although not a huge percentage decline, the u.k. has a little change. is trading lower this morning as people pushed out rate expectations. the flipside of that is that we continue to see breaking in commodities. old is coming back this morning. we see the bloomberg commodity index go higher. and copper is higher. chinese import data is down in the smallest drop since late 2014. is purchases rose and that helping to support some of the industrial commodities. nickel and aluminum have been trading higher on the chinese data. ti -- that is the next data point to watch. david: here is shery ahn with the bloomberg first word news. the second time in two days, police in turkey have been the target of a bombing. an explosion blew off the front of a police car in turkey. at least three peo

julie hyman has been watching the dow. julie: i was getting excited about the 16 days. above butow did cross it is below that level and a nasdaq is in the red. stocks have come down just a touch from where they were earlier. it has to do with what is going on with oil prices. crude still up a half a percent, below $50 a barrel. it looks like $50 has been difficult to sustain, and conoco phillips says they were resuming production in canada. it looks like oil make have -- may have taken a little hit. blue is says that jet raising domestic fares and other competitors have followed suit and matched those increases. jetblue is leading some of the gains we have seen within the airlines. we are also looking at tech, apple and microsoft rising. they are two of the biggest contributors to the overall gains. biotech or the draggers. -- are the draggers. listurse valeant on the after that company's forecast for the year came in well short of what analysts had been estimating. ceo, stilla, the new trying to turn that ship. mark: earlier stocks were up 1.4% and they are up a mere 1

julie hyman has been keeping an eye. andrew of citroen, who has now become a well-known short seller, has spoken to bloomberg and said he is sporting shares of facebook. he says the company is losing relevancy. they are gaining is not as valuable as the users it has lost. take a look at the bloomberg here. you see the price in short interest ratio. here's the short interest on absolute value. left in the minority is we are atng sure -- we are looking apple, not is because of the indian news. but also a report in the nikkei saying that the iphone annual shipments have been following by 8.6%. citing some of the various component makers for the iphone. microsoft about the linkedin deal. the other potential targets for microsoft, now that is probably not happening. 9% in the wake of the deal. a little less than 1%. bring peoplet to out today with the latest scotus decision. that $2 billion bill payment for , that is $70 billion worth of debt the island has. mark: up ahead it is crude phillips at a one-week low. . . live from

let's get over to the markets desk, julie hyman has the latest. that you arencerns seeing manifest in europe and the u.k. as well as in the eurozone are not really manifesting here in the same way . we are seeing much more muted reaction to these recent polls that show increased odds for the leave camp. the dow is off just by 26 points. the s&p 500 very little change. we are not seeing the spill over to the same degree that we are seeing there. that said, we have just seen and a wiping out of an enormous amount of market cap for the global indices. year to have it for the date and you see the drop over the past couple of days. it wiped $1 trillion off to the global market cap values. at least in the u.s. you are saying almost a pause coming on the heels of some significant declines. take a look at what is on the move. here you have a mixed picture for u.s. stocks. technology holding up well and since that is one of the most heavily weighted groups in the s&p 500, that is helping. ' reaction to the apple conference has been largely positive. if you

julie hyman is watching some movers. julie: i want to look at deal-related movers. a deal and the timeshare industry could diamond resorts and apollo, 26% higher than the close yesterday. the total value of the deal, $2.2 billion. diamond resorts of 24% and it looks like it is the thing other timeshare operators as well. up 3.9%, marriott up as well. commerce,ank of acquired by a chicago-based commercial bank for about $3.8 billion. private bank of 22%. down 3% although it does give it more of a foothold in the united states. the owner of british airways -- an interesting story of bloomberg. according to people familiar with the matter, carter airways is increasing its stake -- qatar airways is increasing its stake. the shares are unchanged but they don't not had a roller coaster this morning as the news came out. the potential news came out that qatar could boost its stake to 22% from 15%. also this mine we are watching monsanto. the company reported earnings that missed analyst estimates but also said it is talking to other suitors, potentially, feeling other alte

trading days a let's go to the markets desk and julie hyman. a global pmi picture was lackluster and the u.s. pmi number came in a confused everyone. julie: we are still seeing troxel -- stocks trade lower. eurozone, wethe get manufacturing data that was not worse than expected but only , justsmall expansion above the 50 line. in the u.s., the number came in ahead of estimates and was not that far above 50. nonetheless, we are seeing not a positive reaction. the nasdaq is leading in terms of gains. it's not even of one full point. the dow and the s&p have been lower intermittently. the dow is the laggard just like yesterday. the s&p 500 over the course of zigzag,had a kind of almost going positive at one point midmorning before dropping back down. june has not been a very favorable month for the s&p 500. this is a busy screen so focus on this column. this is the june column. the average decline in june over the past 10 years has been 1.5%. six of the past 10 june 7 negative. it has not been a kind month. worstay's session, the drags her in the

julie hyman at the markets. london is often considered the center of venture capital in europe, but how long will it hang onto the title after the brexit vote? let's bring in a partner at softek. i know you spend a lot of your career in london before moving to san francisco. 40% of tech startups in europe are based in london. the follow will be that those tech startups will be starting elsewhere? >> it's a great question. right now, the overriding mood is conservancy. companies whothat were considering moving to london have talent all over europe, so companies starting in estonia, in spain or greece, are making that move to london, now may consider going solar else. we have already seen places like berlin and dublin beginning to gain ground. this is the opportunity for them to pull ahead. betty: was this happening even before the vote last week? >> you know, there has certainly been a growth in startups as a whole in europe. london was still seeing as the center of what was going on. lots of companies started in

let's go to the bloomberg desk where julie hyman is tracking the

let's head to the market as with julie hyman. wish they would've written in the margarita discussion during the break. let's take a look at stocks. seeing a selloff in the u.s. despite the rebound elsewhere, especially in european stocks. in the u.s., it is not happening. the nasdaq is down .5%. let's took at the -- let's take a look at the bloomberg. we have commodity stocks higher. on the lower end, consumer staples are selling off, particularly soda stocks are getting hit after philadelphia instituted a soda tax. technology and health care lower. technology, there was a ruling in beijing against apple same the company in france on a patent of the chinese phone maker -- saying the company infringed on a patent of the chinese phone maker. it just applies in the city of beijing, not elsewhere in china, but could set a precedent for other cities and regions. are also and alphabet taking a hit today. we are watching these and mastercard. these the saying yesterday -- visa saying yesterday they are going to help merchants with techn

let's head straight to the markets desk for julie hyman is. julie: are you a big uv? definitely not. julie: i think more people are wearing the clothes even if they are not doing the yoga. profits will be below analysts estimate the first quarter sales rose, especially if you look at them at that basis. the company took a foreign exchange hit but the total -- total sales comparable sales, an estimate of 6.7%. that appears to be what is powering the sales higher today. at the owner of the tommy bahama brand. one of those did very well and one did not. and those up 10% sales down by 10% and those companies cut the full-year earnings per share forecast. it did raise a revenue forecast but the shares are taking a hit. a buck nakedy make underwear, one of their products. are belowter sales what analysts had been estimating. lastompany became public november and the shares have doubled since then. we can see they are above 24 right now and that is the context behind the decline we're seeing today. we talk about how retail has been suffering, the first week of june was a bit

bloomberg's julie hyman has the latest. julie: we have not only the jobs report, but we just got a measure of these services industries coming in below estimates at 52.9. estimated.at was the largest portion of the u.s. economy. we also got factory orders rising 1.9% in april. this is a month's lag, which is in line with estimates. durable goods orders up 4.2%. but the composite is the newest data of this latest batch we are getting in the past few moments. signalingtill expansion of these services industry, just not as much of a next engine estimated by economists. that is the slowest expansion going back to 2014 in february. obviously already a weak reaction to the overall jobs picture and it looks like a an acceleration in the decline. the nasdaq down 8/10 of 1%. the dow off more than 100 points as we are looking at the fall out from all of his other data. betty: a game changer. walk us through the changes in the market. julie: you see this reaction in stocks. a clear reaction in futures. it is really dramatic when you l

let's head to the markets desk now where julie hyman has been looking at biotech shares. julie: biotech and health care are very active today. we were talking about that cancer doctor meeting over the weekend, but we have moved on from that to a number of different individual company events. repta getting a notice from the fda for more data on its treatment for duchenne muscular dystrophy. this a spark speculation that because the fda is asking for more information that it may mean and approval for this medication is on the way. those shares surging by 20%. shares are going in the opposite direction as the drug is for a rare neuromuscular disease failed to meet its goal in the final stage trial. this drug has already been approved in the u.s. to treat two other diseases. it generated $2.5 billion in sales for the company last year. anotherre approved for use, that would obviously begin news for the company, but it looks like the study is not 20 and that direction. shares down by 12%. we have a deal in the health care industry, not biotech, but an artificial joints. it is

in with julie hyman who is checking in on the markets after the jobs report disappointed. i guess it is like the calm after the storm. julie: the drop right now is

julie hyman is standing by. has it looking? julie: it's not quite up as much as the european stock market, but the rally is the largest in three weeks time. all three averages rising to the highs of the session. nasdaq up 1.7%. still not approaching the record levels we were getting close to a couple weeks ago for the s&p 500, but nonetheless approaching 2100 here. it is a pretty broad-based rally as well. the interest sensitive groups are in the red, however, utilities and telecoms are seen yields rising united states. industrials and materials and all the economically sensitive or cyclical groups are rising today. individual movers that we are watching include boeing. bloomberg news reporting that the company is nearing of $4 billion deal with russia's largest airfreight company with an order of 747s. it would be an extension of an existing order. that jet has been on the wane in terms of demand. that would be a little bit of an extension of its life. that stock is up by 3%, helping boost the dow. we're looking at lending clu

let's go to julie hyman. julie: the best-performing stock in the s&p 500 is a aul -- is airline aul. to have extra revenue and they are setting that target for 2018 and trying to close a profit cap with competitors. among other things, aiming for $1.5 million because of increasing customer segmentation and they will make changes to their frequent flyer program, and it will also try to save $1.3 billion by using larger planes and slimmer seats. scherzer up like 2%. checking on planet fitness. shareholders top will be selling 9.6 million shares in a previously announced secondary. they're talking about some of the other sellers as well as typical when you get a secondary and the stock is down by 5%. jonathan: thank you. that is about that some of the movers. the s&p 500 marginally higher and the nasdaq up around .2. abigail? enterpriserner shares are down more than 9% and tracking and transportation did announce that second quarter yesterday after the bell on the downside. they are sliding sluggish freight cond

let's go to julie hyman with stocks to watch. not necessarily big in size but big as an topic of conversation on wall street, tesla motors proposing to buy solar city, both companies controlled by elon musk and the musk'ssolar city is elon cousin. visually $2.6 billion. says is he wants to create a vertically integrated alternative energy provider from electric cars to rooftops, solar panels. tesla shareholders are not happy about the proposal, solar city trading higher. looking at short interest in both stocks because it is darn high even know it has come down for tesla. the white light is the short interest at the percentage of quote, it has come down as the stock price has recovered this year, it has come down to 25% of the company's flow which is extraordinarily high. solar city, the short interest going up as the shares going down, at 40% of flow. a remarkably high number of investors are betting against these stocks. , the big, h&m retailer, shares down after the company posted earnings that missed analyst estimates, a vict

let's check in with julie hyman who is looking at the pound and the trade fair. the pound move a carney begins speaking. julie: mark carney talking about essentially more stimulus happening the u.k.. that drove the pound down, which is what you might expect. down by 1.4%. also, if i can bring you into the bloomberg, i just called up, while we were talking about these ecb headlines -- looking at the pound-euro. there, too, we saw the sharp leg lower, but now taking a little bit of a leg up. still negative on the day. a little bit of a leg up in the wake of the ease -- these ecb headlines crossing on the potential broadening of quantitative easing. let's look at the major averages. as you heard scarlet and oliver saying, we are pretty much at the highs of the session on more money flowing into the system here. also, because it is the last day of the quarter, i want to take a look at what we have seen here with the dow up about .9%. the s&p up a little more than 1%. the nasdaq trailing, as it has been, all year. also looking at the dollar looking at what we have see

julie hyman has a check on individual movers. julie: stocks declining here, doing poorly even as we continue talking about the gains we are ringing in the underlying agricultural prices. a downgrade from jonas who says he is incrementally less lush on prices because of discipline from the large producers. he is cutting his price forecast so we are seeing them all trade low today. we are seeing those who own apartment buildings, jeffries is cutting its outlook on the sector to neutral from positive. things that these coastal markets are starting to slow down because of oversupply and rent fatigue as well. the stocks which were down more sharply earlier have come back from the lows. ethics properties positive slightly and at we residential still a little lower. -- equity residential, still a little lower. the analysts at morgan stanley says the company's pipeline is better understood now. on the flipside, there are challenges that perhaps are not appreciated, including competition for one of the company's key drugs. finally, f5 net

julie hyman has the latest market reaction in new york. here's the latest add the european equity markets. as i was saying, look at your gmm function. this is the best function to tell you about the massive voteut from today's brexit . in the left-hand column, you have record intraday moves from italy.ireland, spain is down 10.7%. lower.13% in the currency market, massive moves for the pound against the dollar, 8% lower. it was down by 11%. the biggest decline is the krone. europe, a record decline against the dollar down 2.9%. big moves in the peripheral bond market. look at the yields. 83 basis points on the greek 10 year. the portuguese ten-year up by 22 basis points. into the coreg eurozone bond market out of the periphery. we will talk about credit markets. gold is up 4.6%. sterling, this tells you everything you need to know about the pound. earlier it tell as much as 11% against the dollar. out initain was shunted september of 1992, sterling held by 4%, the biggest percentage decline ever. today we were down 11%, the biggest fall ev

alix: let's go over to the markets desk with julie hyman. julie: related to analyst calls on these various movers, let's get started with pandora. axiom upgraded the stock on its core business saying the odds of a company building a successful on-demand service is relatively high but at the same time, they're looking at the m&a chances for the company. there has been talk about pandora potentially being a target and axiom sees it as a target. a reasonable takeout price could be $20 per share which is higher than where the stock is now. we are taking a look at linked in. rbc upgraded it saying it still reasonably well positioned against large advertising markets so it's reasonably valued. rbc looked at a survey to come to these conclusions. the shares are rising 1.8% and sellly agrium being cut to from outperform. the analysts are looking at the retail unit in particular which makes them -- which makes 3/4 of its sales in my say that transition has been surprisingly slow. we seeing a lot of the kleins today within the fertilizer group. this s

it is julie hyman against alix steel. julie: i have a bummer of the charts. i know it is a festive and fun thing but i am looking at gun stocks amidst all the shootings we have had. this is a five-year chart. there are a lot that don't appear on this chart, including the shooting that affected gabrielle giffords in 2011. the white lines are the various shootings that have happened. i have included some of the most lethal that we have seen. those are the white lines. the blue line down here are weapons shares. both of these stocks have skyrocketed over the last couple of years. of 600%. -- up to 20%. the purple line are the background checks in the united states. this is something that is tracked. we tend to see an increase in people requesting background outks, a proxy for figuring how many people are purchasing guns. every timeappened but we do tend to see up to six in this after we have these mass shootings. in part on the concern that there will be increased gun sales.on and we tend to see, as well, typically a bit of an uptick in stocks. that is what we h

scarlet: first, let's go to the markets desk and julie hyman. we've got a mixed picture and the nasdaq just turned negative in the last 10 minutes and volume is down about x percent. 6%.bout the range of trading is small and investors, many of them, or watching what will happen from the u.k. vote on thursday. i had of that, we are not seeing a lot of action today. yesterday started with a pretty substantial rally and then it faded. looking at the two day of the s&p 500, you see it they and then the sideways movement today. you can see how small the range looks today versus what we had yesterday. in terms of what is moving, technology shares have helped lead some of the gains. the wall street journal reported next iphone update will only include minor changes and it's not ready to roll out larger changes until next year. microsoft is trading higher and facebook is higher. the company's shareholders affirmed the members of its boards and approved mark zuckerberg bus nonvoting share structure. andre also watching telecom trying to look for somethin

with julie, markets hyman. julie: stocks are near the lows of the session on day two of the u.k. vote. the s&p in the dow having the biggest back-to-back decline going back to august and the selloff we experienced. volume is up as well, 60% higher than the 20 day average for the s&p 500, specifically as this falls below 2000. we have a divergence as well between defensive encyclical groups today. take a look at the bloomberg. we now have both utilities and telecom stocks in the green. they tend to be the more economically resistant groups. groups likeical industrials, energy, tech, consumer discretionary, all trading deeply down today. you heard about ryanair from mark, you're seeing travel stocks in the u.s. fall as well, whether you're talking about airlines or cruise lines or online travel. we have steep declines for these stocks once again today. also, the investment banks. anything in the financial industry is trading lower once again today. goldman sachs, down more than 20%, trading in a multiyear low. morgan stanley lower, schwab taking 7.5% hit. bond years -- bond yields

let's get over to julie hyman for your market open. julie: we've got the rebound in the u.s. so all major averages are higher. the s&p 500 had pulled back 5.3% over the last two sessions. the rebound is coming on the back of that, the biggest a klein going back to last august. the s&p to date is up above 2000 and the now up about the same and the nasdaq is leading to the upside right 1.1%. in the last 15 minutes, carnival, the cruise company has been a big victim of the selloff. over concerns about travel. 40% of its revenue from europe overall and shares are up 4% after earnings came in $.10 above what analysts anticipated and the announced a $1 billion buyback authorization. the third-quarter forecast missed estimates and it narrowed its full-year forecast bringing down the top end of that. estimates because third-quarter costs are higher because of advertising and it's doing a remastering of the queen mary ii in dry dock. oil has been rebounding today. we have the weekly supply data coming out at 10:30 a.m. so oil and gas companies are rebounding along with it. we are watc

we want to send it over to julie hyman. qatar airways coming out and potentially considering raising its stake in iag, the owner of british airways. currently, the stake is 15%. it is considering raising it to 20%. what is interesting is that iag is still lower. it did take a leg higher, but still lower on the session by about 1%. for the reason, we can look to the bombing and the attack in turkey. iag is down. thomas cook is another, down more than 2.5%. that is overshadowing any potential increase stake coming from qatar airwaves. -- airways. -- if italy does go ahead to recapitalize, italy asked for a waiver from the eu on that point. unicredit, it took a leg downward on this. it sold off a little bit on these headlines coming out about german opposition. jon: fascinating story. let's continue the conversation. what key banks are looking at. great to have you with us on the program. vote draghi says a brexit could cut your of gdp. how one earth -- euro gdp? monitor whatdo you the impact will be? delays,tainty leads to de

julie hyman has been tracking the moves. the moves and equities are higher. jlie: it's a risk on kind of day. tocks are right now rising the highs of the session. the nasdaq leading the gains, up 1.25%. we are seeing this broad-based rally today. if you look at the groups that are on the move, its broad there as well. utilities have been bouncing between gains and losses. other than that, it's all green on the screen. financials have been leading gains as well. they have been pretty reactive to this risk on, risk off sentiment, moving along with the markets recently, materials and energy shares, tech industrials, all of the cyclicals up today. we are seeing banks do well also, in terms of the biggest contributors to gains today. we will get results of the first portions of the stress test. the stocks within the banking industry don't tend to move on that. they move rather on the capital return plan approvals. that will happen next week. microsoft also on the list today, reflective of what we are seeing in technology. lions gate once again has approached stars

julie hyman? julie: i was determined to not talk about brexit this morning, so this is a brief shining moment of non-brexit related talk. i'm talking about the s&p 500 bond yield. this is what sean darby pointed to this morning. year rollinge basis and it looks at percentage changes and correlation between them. it goes back to the mid-70's here. it is a negative correlation most of the time. bondu saw stocks go up and yields go down or vice versa, in the 2000s we saw that turnaround. we are near highs at this point in terms of the correlation. he thinks that is not necessarily going to last. this is one of the reasons he said investors should be concerned about long-term equity returns. what's that correlation. david: money is not coming out of stocks and bonds or vice versa anymore. >> i am looking at brexit odds. the market moves were so drastic this morning even though we get ready to open here. looking at the s&p, euro stocks, and the nikkei, looking over the s&p futures, the brexit odds -- y

let's get you up to speed with julie hyman. julie: one group we are watching our the bookmakers, which did not seem to accurately predict the result we got last night in the u.k. androkes, william hill, shortly --trading sharply lower. a lot of the volatility in japan. andnikkei volatility index the increase it had. x.d the v stocks -- vstox it had been trading higher, but not as much as the town volatility. it is happening in the u.s. as well. year-to-day, up to and above 20. this is something many traders have been bracing themselves for for some time. they say they do not know what will cause this spike, but they in it fell back to levels january. we are watching the etf's that truck volatility. a lot of folks going along with these things. here's the fix -- the vix .hort-term a lot of buying of volatility this morning. people are bracing themselves for more to come. guy: thank you. the move we have seen on sterling overnight sensational from a historic port of you. it makes the exit from the erm in 1992 look like a walk in

hyman has been watching things. julie: in the united states, over this momentary grexit concerns based on the latest polling. major averages up 1%. biggest rally in about three weeks time. the s&p 500 going back to june 8. it is the last time we were close to the record. were on the s&p record watch for a while and a big slump in the market. we are not coming back to the record level. quite a change over the past several weeks. theing back today, some of contributors, we have got apple, microsoft, jpmorgan, a diverse group of stocks. definitely helping to lead some of the gains here. at least partly in the commodity ofcks echoes we have a rally 7.5%. it tends to be a volatile stock rising overall. and continuing somewhat of a comeback at her a slump last month and concerns over the business. the tenure today having his biggest gains in yield about a month's time, 1.67%. still a very low level but six or seven basis points move is a big one. folks are coming out of, money flowing out of risk-averse at that's. safe ha