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tv   Bloomberg Markets  Bloomberg  July 20, 2015 12:00pm-1:01pm EDT

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betty: good afternoon. scarlett: good to have you here. i'm excited to be here with betty liu. betty: let's begin with a look at the markets at this moment. stocks are little changed. we are pretty much near an all-time high for the s&p 500. we are a little bit off the highs of the session.
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any commodity related stock right now is being hit particularly withminers and gold prices. gold is at a five-year low right at, down 2% and trading $1108 per ounce. nymex is also trading deep in the red. some of those are over concerns about global demand and global growth. scarlett: and data out of china is disappointing folks who thought china would continue to stock up in gold reserves but it's not at the pace anticipated. gold has lost favor as a safe haven celeb look at treasuries. the two-year yield is now at a three-week high. the short end of the yield curve is so much more sensitive to interest rate expect haitians. -- expectations. in foreign exchange, the version
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monetary policy is the theme and you see that in the way the euro is trading versus the dollar. two-month lowar a when you compare it with the u.s. dollar. let's get to our top stories -- greece is finally getting some relief. for the first time in weeks, greeks got more access to their own money as the banks reopened. elliott got been filed this report --elliott: it's the start of a bankseek for greece as reopened after three weeks and most capital controls remain in place but greece can take out the equivalent of 420 euros per week instead of just 60 euros per day. they can deposit checks and access safety deposit boxes but transferring money overseas is pretty much barred to most greeks. greece repaying the european
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central bank 4.2 billion euros today. as well as paying back the central bank in greece. these were supposed to be the things that made the prime minister signed the deal with his european counterparts last week. there is the potential for another parliament meeting next week as the government will introduce new conforms that are preconditioned to getting the third bailout. we will be checking in with him in the days to come. the iran nuclear dylan up for a vote at the united nation security council today and there was not much dissent because the security council approve the agreement unanimously. the spotlight will shift to congress which has 60 days to review the deal. the israeli prime minister does not like the deal and says he will make his position clear to congress. bigcorporate earnings, a quarter for morgan stanley trading and brokerage fees rose
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and morgan stanley posted the biggest revenue increase among the six biggest u.s. banks with earnings beating analyst estimates. it also reported record property wealth management for the fourth time in five quarters. shares have doubled in 2.5 years and james gorman sees more opportunity in the international market. >> in the global investment banking marketplace, there is clearly more turmoil in other parts of the world than the u.s.. forhink there is potential share gains for our business. scarlett: the trading operations may benefit from a higher credit rating from movies as well. betty: in banking, it looks like major cuts are on the way at barclays. the british bank may eliminate one job and for in the coming years -- in for in the coming four jobs in the
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coming years. . son edison has agreed to buy levint solar. sun edison expand into commercial and residential. an advisory panel recommends boosting the minimum wage in new york city to $15 per hour. the state labor commissioner is likely to prove that in the minimum wage will rise to nine dollars per hour at the end of this year. scarlett: the newly released novel i harbor lee is setting a record by selling 1.1 million copies. it is the fastest selling book in the company's history. she wrote it before "to kill a mockingbird" but it was never published. those are your top stories. betty: my summer reading. scarlett: i'm sure it will be that way for a lot of people. betty: paypal is making its big
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debut today. it began trading on the nasdaq. it is now worth more than its former parent ebay. scarlett: shares of paypal are trading around $40, higher than 6% over its open. emily chang spoke with daniel shulman about his plans as a newly independent company. it's a very exciting day for us. being an independent company changes some things but not others. the thing that we will always focus on is how we innovate for our customers going forward. being an independent company allows us to be a true neutral third-party. we are the largest digital data digital payment platform maybe in the world. by being neutral, it allows us to partner with retailers and others that maybe we could not have when we were part of ebay. being truly neutral and focused
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on customers is a huge advantage. emily: you work with apple and giggle -- and google but also compete. what is the biggest of value for paypal in mobile? >> one of the things that we have that no other player has is truly an agnostic platform. in other words, we integrate for merchants any type of payment, not just paypal which has 169 million customers across the world but we will also integrate apple pay into that or other forms of payment as well. we also want to be a full services payment partner for merchants. being technology agnostic and operating like this gives us a competitive advantage. apple pay has some a users already signed up and they have our information. how do you compete with that?
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>> it has been around for 15 years. we have had competition throughout our 15 years from the were 12 years ago, acquired by ebay with a couple of million customers, competition and by focusing on the needs of customers and the pain points they have whether it be consumers or merchants and innovating around that, we have grown now to be 169 million customers across the world. last year, we processed 4 billion transactions. scarlett: joining us now is emily chang who is usually in san francisco but is in new york today. emily: it's great to be here today. scarlett: there has been a lot not be that paypal would an independent company for long. emily: everybody wants to buy it. the people i have been talking donahoe and john
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daniel shulman think that paypal remains an independent company. they say payments are hard. if you think about alibaba, there would be a lot of regulatory issues there. if anything the new ebay may be more of a target. that's what reid hoffman told me. i think it's fun to talk about but with a $50 billion market cap, it's difficult to do. icahn whot about carl got what he wished for? have they talked? emily: he has made an estimated $180 million off of this split and has a representative on the board. i asked daniel if he spoke to him. they have not spoken. he's not just any other shareholder. he admitted that he is certainly not worried about more agitation
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now that he got what he wanted. betty: he also got a $10 million check in emily: it will be interesting to see how the strategy goes forward. scarlett: i am talking with someone else he is to work at paypal, the former marketing executive, eric jackson, and he said that under daniel shulman it's not up products company. it's more of a holding company. they have made acquisitions. it's not innovative in the same way it was when the paypal mob he was running it. emily: they had been making a lot of acquisitions. there has been braintree and criticism that a pal does not innovate and daniel shulman is not a product guy. he said we are looking at innovating by acquisition but also organically from within. they've got 6.6 billion dollars of cash on the balance sheet and they should use that and potentially by more companies. david mark is used to work at a
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pale who went to work at a spoken out runs facebook messenger. it's silicon valley. it's totally incestuous. marcus ondavid payments, i asked him about competition from facebook. future, thereour is definitely going to be a lot of partnerships with technology companies going forward. emily: he could partner with facebook? he said there could be a lot of partnerships. betty: you would not want to be on the opposite side of race book on many things. emily: i don't think anybody would be. betty: 1.4 billion customers. what does paypal yet as an independent company? emily: i think they get the license to lead and i have ebay potentially dragging them down. i talked to a lot of members of the paypal mafia and they fought to get this done.
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they felt strongly that paypal is much stronger as an independent company. betty: do they still have shares in the company? emily: i'm sure they do. avid sachs said this could be $100 billion company. says paypal is just a teenager. can daniel shulman shake off the old agate from the past and take this forward? people are talking about apple pay and there is google payment. there are other companies and can paypal compete in that landscape? payment has not changed in 10 years. you still take out your credit thator in some people say payment is at an inflection point in the question is whether paypal can capitalize. scarlett: we will see what dan shulman has to say next time. thank you so much for joining us. betty: much more ahead in the
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next half hour -- we will have the latest on the hackers who broke into the ashley madison website. that is the one we get to cheat on your spouse. find out how much information they obtained about the sites users. betty: scarlett: i'm glad you identified that. the growthl you how of technology is affecting the real estate market around the u.s.. our guest will be goal marcus. ♪
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scarlet: it looks beautiful out there but it is boiling way hot.
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betty: our hair will never hold up. scarlet: this is "bloomberg market a." betty: we will check on how the markets are trading with julie hyman. the s&p 500 according to my calculations, the intraday record was 213472. it's still shy of that. 213082 is the record on a closing basis. if we gain a little more today, we could be at that level. the dow jones industrial average is further away, more like 18,000. the nasdaq is at a record today. any game today would be a record close for the nasdaq over the past two days we saw a record for the nasdaq. we will be on record watch. you guys were just talking about paypal. i want to check on the other
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payment providers. they are doing well also. mastercard and visa are both meaning in today's session. there was a report that visa may be in talks with a chinese payment divider to do some kind of partnership. that may be helping fuel the gains their. in the s&prformer 500 is hasbro, not paypal. hasbro came out with earnings that beat estimates and the company sold merchandise tied to the "jurassic world" blockbuster and has been benefiting from big entertainment franchises. the stock is up more than 6.5%. you can see the year to date chart of hasbro versus mattel. mattel's the green line and has not been performing very well because of slagging barbie sales. hasbro is up more than 50% this year and mattel is down more than 20% this year.
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mattel is more in turnaround mode, trying to pick up the barbie sales and hasbro is more tied to the big entertainment franchises. it will be getting "frozen" from mattel in the next several years. yelp where wek on see it lower today by more than 2%. it is at its lowest earlier since june. , 2013. they are citing a lot of competition in the market. stuffn get ratings for from a lot of different sites. scarlet: thank you so much. when are they going to make a barbie movie? betty: julie says yes. julie: i think they have but it did not take off. betty: it was not a hit because scarlet does not remember it. scarlet: also i don't have daughters.
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let's take a look at our top stories -- an unprecedented apology from a japanese company -- mitsubishi says it regrets enslaving american prisoners during world war ii. a former po due accepted the apology in los angeles. about 12,000 u.s. soldiers were forced to work in japan under brutal conditions. goes toerless car college -- a testing ground for autonomous vehicles opens today at the university of michigan. the 32 acre site is called m- city which simulates urban and suburban traffic conditions. betty: a moment for the outgoing president of fifa. took place at his news conference. it was interrupted i british -- by a british comedian who the president with dollar bills. that's one way to make a statement. scarlet: what is it with these european protesters? betty: then it appears in our
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network. scarlet: i guess so. that is a look at the top stories. we've got more coming up. this is the favorite story of betty. betty: we will tell you about the online adultery site, ashley madison. it is trying to keep his bedside manners a secret. ♪
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betty: this is "the bloomberg market day." scarlet: there may be no secrets left for users of the online cheating site, ashley it is known for helping married people have an affair were
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victims of a hacking attack. they hackers want the website shut down. betty: how did the hackers managed to breach the system and what are the implications? sheila who has written extensively about ashley madison. this is one of the most read stories in our terminal this morning. it's interesting that a site that is based on keeping your information private is getting hacked. what happened here? ashley madison has been struggling for a long time to get some love from the financial community. they want respect and they tried a few years ago to go public in toronto. they had a complicated reverse merger thing planned. at the 11th hour, a reporter in toronto showed one of the ads from their sugar daddy sister
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site to the head of the bank that was backing this transaction and the bank pulled out. every time they tried to go legit, they want to raise money to go public, the fact that they have this business that is distasteful to many people makes financial executives feel creepy when i have to tell their wives they are doing this. this is damaging for them. scarlet: at the same time, the tankers keep flocking to them because they make money. the company is profitable? sheelah: yes, they have experienced huge user growth. the public numbers they have released suggest they have quadrupled in the last few years. it is a dramatic growth spurt but there is this huge stigma. anonymity is really the product they were selling.
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they are almost enticing people to go out and do things that are potentially life destroying. their argument is don't have an affair with someone your office or your social circle because you are bound to get caught. here they can go fishing in the open sea and no one will know. what is the back story on this hacking? this is a group? sheelah: we are still learning about their motivation but they have a sickly said they object to the fact that even after you delete your profile from ashley madison, you decide you will go legitimate and delete your profile, it's still there. that is true everywhere. it exists somewhere. betty: they don't want money? they want the whole site taken down? sheelah: it underscores the fact
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that nothing you do online is actually private. it is all out there for the taking. anyone can higher a russian for $100 to hack into your e-mail account. hopefully, this will be a cautionary tale. scarlet: you will have to let us know what they say next about the company. thank you so much for joining us. betty: much more ahead. this is where we say goodbye to you. next halfahead in the hour on bloomberg market day. to a tech company is willing pay for campuses in big cities and with chairman and ceo of alexander real estate is building these campuses and is joining us. ♪
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than dsl from the phone company. call 800-501-6000 to switch today. perks are nice. but the best thing you can give your business is comcast business. comcast business. built for business. betty: welcome back. there is a look at some of the top stories -- a new poll shows americans are divided about gay rights.
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despite the supreme court ruling that legalized same-sex marriage, those surveyed by the associated press said religious liberties should take residents over gay rights. the financial times may be for sale. they are looking to prospective ire's. valued at $1.6 billion but no formal talks are underway for the newspaper. abortions are now banned in wisconsin after the the 20th week of pregnancy. governor scott walker signed a bill into law one week after announcing his presidential bid for the nomination. it is the 15th state with such a ban. john mccain is saying that donald trump owes an apology to veterans, not him. donald trump is not apologizing to anyone for saying that mccain is not a war hero even though many on both sides of the political aisle say he should. >> he is a war hero because he was captured. i like people that were not
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captured i hate to say. veteran and inan particular john mccain an apology. >> there is nothing funny about the hate he is spewing. wrote annald trump op-ed saying the arizona senator has failed to help veterans or stop illegal immigration. that is a look at the top stories. coming up in the next half hour, more on the latest fallout from donald trump's remarks about the war record of senator john mccain. will it hurt his presidential hopes? loans are a factor helping to drive the rebound in auto sales. we will look at whether the loans could post a potential risk. are they the next mortgage crisis? alexander real estate equities signed a 15 year lease with bristol-myers which is a long time in retail. they will establish a state-of-the-art retail center
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in candles where in cambridge and construction gets underway this month. --marcus is with us. good to see you again. i remember you were on with is when you are announcing the uber deal. is this deal with bristol-myers structure the same way? >> it's quite a bit different. the uber transaction was a joint venture and bristol-myers is moving a number of the research people out of a connecticut facility and aggregating in a cluster in cambridge. but did not look to own they want to secure a long-term home along the candles where corridor. betty: why is this significant? you are hinting that something big was on the horizon. why is this significant? >> bristol-myers has not done
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research inside cambridge before so this is a big change. it is a move from suburban to urban. it's a move to attract great talent and build their collaboration capabilities by being literally next to m.i.t. and it represents a change from owning a suburban, isolated campus into a place that is the heart of cambridge where they can release and i long-term basis. it gives them flexibility as far as their own balance sheet. betty: is this unusual? >> the trend has been pretty dramatic since novartis moved to cambridge. pharmasen, many of the have come into cambridge to effectively recruit and conduct research. pfizer is a good example. they moved literally four miles from their own facility in cambridgeport into the heart of
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kendall square and m.i.t. is building to building for them today. they are similar circumstances. betty: 15 years for a company with his track record. you would have no problem leasing them for 15 years? >> it's a developers and owners dream. betty: would you feel the same with a tech company? >> for sure, we have a long-term lease, 15 years with uber. i think it's the same kind of situation. although it's private, it has a big valuation but we believe it's a fundamental disruptive technology to urban transportation. we feel good about that. betty: even though they are getting a tax on all fronts? they are trying to limit the number of ubers on the road. when you have a disruptive technology that changes the face of how we do things, less traffic, less fuel being used, more efficient, obviously built
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in interests will fight. i think over time, that movement will become predominant in the inner cities. betty: when you are in san francisco or the heart of silicon valley, it's all most a joke when you ask people if we are in a double -- in a bubble. for someone who is leasing out to technology companies but not necessarily the smallest start of but who sees quite a bit of demand from technology, does that worry you that people are open about it saying that we are getting stretched? >> the public markets have clearly shown there is no bubble in technology.the valuations are reasonable. we own and operate one of the critical google campuses in mountain view.for the private so-called unicorn companies, there is a view that it's hard to
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understand their business is fully because ins are not totally disclosed. sophisticated investors have put a lot of money in at high prices supposedly. companies andare many of them have great revenues and fundamentally strong business models. i think you cannot compare this to the dotcom era. betty: because a lot is happening in a private world. >> they have sound business plans. betty: and high concepts. on another note, an interesting story came through this morning about new york developers who have been able to exploit the piece of legislation that allows them to grant green cards essentially to whomever can put in $500,000 or more to create jobs. it just so happens that many chinese families are able to afford that. they have been helping fund the
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new york property projects like hudson yards. have you benefited from this? >> we see that in san francisco. on a number of assets, we had unsolicited bids from chinese investors that seemed high-priced. they wanted to buy but we don't know whether those are families or real institutions. there are a couple of occasions were that has happened where we have been surprised. betty: is that fueling a property bubbble in any area? >> not really. the public and private market is very stable. it is in a strong bull market at the moment. i don't think that really has any material impact. betty: you see that changing at all? is chinese money going to continue to flow into many projects? >> it may but the real opportunity is in china itself o.
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they've got issues with the stock market. betty: you say there are opportunities on that side. >> i think they are looking for safe havens. that's why you see the light to capital in the u.s. but it is -- but it has not been so dramatic to alter true valuations in the u.s. betty: they are looking for a safe haven apparently they are looking for real estate. and the says. great to see you. thank you for joining me. had, -- it's still a head china releases its latest housing data and we will find out if months of cutting rates and restrictions have finally stabilize the property market. ♪
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betty: welcome back. a big deal of this monday -- piper jeffrey has agreed to by the bank of montreal community bond business. we have the chairman and ceo. thank you so much for joining us. why did you decide to buy this business? >> good morning. it is a good fit with our growth strategy. it adds substantial scale to our middle-market sales and trading and a similar culture and focus him a client. specifically, what were you looking to achieve with his deal, what type of synergies will help both of your companies? >> we have a lawn's handing franchise and good coverage of
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banks across the country that is highly complementary to our current middle-market sales in trading and our combined municipal platform is going to be industry-leading. for a broader context, the fact you are buying this business, and does it mean that you are polish on the domestic economy? -- you are bullish on the domestic economy? >> we have the same view as much of the rest of those who follow it. our intention is to continue to gain market share and make investments so that our growth can exceed that. . mark: the bloomberg data shows states and cities have issued $231 billion worth of debt this year which is more than 50% more than a year ago. it's the fastest pace since 2003. what has sparked this turnaround? do you feel that states and
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cities are now taking the lead as far as the a domestic economy is concerned? >> it doesn't look like we have the potential to have record issuance in the municipal finance area this year. i think the prior record was $430 billion. if you annualized the first half, we got a good shot at exceeding that. the significant part of it continues to be refunding's. ultimately, we see that slowing down in a higher interest rate environment that we also believe there are long delayed capital expenditures that are needed in many state -- in many state and local governments. betty: does the puerto rico situation give you pause with the muni bond market? >> i think that is a situation that has been quite visible for some time. clearly, there will ultimately be a restructuring but the marketplace is been watching that closely now for at least three years. mark: do you have any regulatory
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concerns for this deal? >> no, we don't, it should be very straightforward. mark: we should mention this comes a week after piper jaffray acquired river brent holdings of chicago. tell us about the timing of these deals. >> both of them happened to be available at a time that ended up eating close together but not necessarily by design. the fact that both have significant presence in chicago is appealing to us. we have long had an operation there but this will strengthen it significantly. they are also complementary in that the various dimensions of covering depositories whether it is in capital raising or advisory or working with them on their portfolio. win-win for you and the city of chicago given the financial predicament the city is in? >> i certainly think it is something we look forward to having what will probably be our
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third largest location after our headquarters in minneapolis. we have a substantial office in new york city as well. betty: thanks you so much for joining us. also thank you to mark crumpton for joining us. see you in the next hour. mark: and we will touch on the embassy opening in cuba. betty: from muni bonds to housing, home prices rose in more chinese cities adding to a recovery in the property market. d: we had encouraging data out of china over the weekend. after months of cutting rates has taken a more tangible element. you look at the gains in home prices and the prices for new homes and we are now looking at a majority of the 70 cities surveyed seeing gains month over month. it is worth noting that data shows the pickup has largely and restricted to private
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not commercial projects. developers are still working through what some have called exit inventory. betty: let's get to julie hyman for other big stories in the market. so far today, and i know commodities is a big focus -- julie: this is just crossing -- it looks like we have now reached a record on the major averages -- we are now at a record on the s&p 500. 213.82 was the record on a closing basis. if we close at this level, it will be a record it was already a record for the nasdaq. any gains would be another record and the how is not really near its record. of falling face commodities, we are seeing the s&p 500 rally enough to get to that level. in the commodity market, it is
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notable the drop we have seen in gold prices. saw in the early hours, down 4.2% which is the biggest one-day pullback in two years, we see gold still trading at about a five-year low and it down for the sixth straight session. it seems like everyone is giving up on gold. the of it has to do with chinese net reserves of gold which they announced last week that was not as big of billed as analysts had anticipated. also things have settled down around the globe like greece in particular with not as much a man for a safe haven that gold is seen as providing. see net longs by money managers, much of gold, but other precious metals, silver, palladium, platinum and gold together -- this is the maximum this chart goes back to and this is a
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record low for the speculative long have russia's metals across the board. it's quite notable the sentiment and how negative it is on gold at these levels. let's turn to oil. the selling is not limited to gold. oil prices are going back to $50 $.16 per barrel. it's not a big catalyst today. it's the ongoing perception that we are still seeing too much supply in the market and not enough demand. the iran agreement is not helping that perception. this is feeding back into stocks. dumont mining is seen its biggest drop since 2008 as well as freeport mac ran. on the oil side, we are seeing a big oil services bump. halliburton is up 2.5% after reporting earnings that beat estimates. in particular, business is doing better than estimated in north america.
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butomers have cut spending halliburton seems to be holding up relatively well even in the face of other oil companies. across the oil complex, we mostly see red with ensco extending their losses after conoco phillips canceled a project with that drilling company. betty: thank you. correspondentkets , much more ahead on the bloomberg market day -- congress is back to work again and topping their list is maintaining the flow of highway funding. we will discuss that after the break. ♪
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betty: welcome back. let's look at our top stories -- a major merger is in the air with lockheed martin pay $9
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million -- will pay nine alien dollars to sikorsky which is owned by united technologies. it plans to focus on making jet engines, elevators and their conditioners. george h.w. bush is back home after being hospitalized for a broken neck bone. he was her last week when he fell in his summer home in maine. dr. say he will recover within four months and he is the oldest surviving president at 91 years old. main highway between california and arizona is closed in both directions today. flooding caused a bridge collapse on interstate 10 about 50 miles west of the arizona line. officials say they have no idea when it will open. those are the top stories at this hour. donald trump has been surging in the polls and may finally have given his rivals and opening. the outspoken donald trump is sticking to his guns after igniting a firestorm when he questioned the status of john
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mccain is a war hero. many have rust to defend john mccain and condemn donald trump including mitt romney. he tweeted -- for more, let's get to phil mattingly in washington. i was talking to some people who know donald trump. have talked politics with him and he says he is good to a point and then he just won't shut up. is this the tipping point when he loses favor? : it is but the big question is -- how does it happen? have defied gravity are all political common sense. there is some concern amongst republicans that it's not just name identification or people know him from his reality show
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that is driving his numbers. you look at the latest fox pulled no is, he is at 18% and jeb bush is 14%. that is two weeks worth of straight donald trump having great numbers. the tipping point is the bottom completely falls out over the see two weeks as we candidate after candidate attack him or his numbers will stay steady and that is a huge problem for mainstream republican members not because they think he will win the election because they know he can take away votes and potentially delegates in early states like iowa and new hampshire. whether he it matter stays on the gop platform are goes independent? phil: a third party would be devastating. part of the reason use other republican party wary of attacking him after some of his initial comments when he talked immigrants,ns and you saw people take it easy with him in the party.
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they don't want to push and where he will run independent. he will not run -- win either as an independent but the only people he is siphoning office from the republican party. the republican party's being careful with him because of that. betty: let's switch to another topic on the agenda for congress. there is the issue of keeping highway money flowing. the transportation secretary about this earlier this month. >> congress has used a variety of duck tape in chewing gum measures to back fill the investment. now we are out of those things of congress will have to figure this out. i frankly think this is a time when we need to think big and go long-term and we need to go with greater levels of investment. the current levels are frankly not going to allow us to maintain the system going forward. betty: will they go big on funding? extensionsort-term in three years, get ready for
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the next. they don't have time because the senate is trying to do a longer-term deal. they are looking at three years to work toward six years. the house passed a five-month plan and that's along the lines of what we are looking for. this has a real impact on the economy. $1.6 billion in projects at a state level have been postponed or canceled another 1.1 alien dollars if they can't find it deal by july 1. everybody understands this but nobody will get into it. betty: thank you so much. coming up on the bloomberg market day, we will look at the future of relations with cuba as they reopen their embassy in washington after a diplomatic freeze for five decades. ♪
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mom has always been one of those people who needs to keep busy. if she's not working in her garden, she's probably on one of her long walks with bailey. she was recently diagnosed with a heart condition. i know she's okay, but it concerned me
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she's alone so often. so i encouraged her to get a medical alert button. philips lifeline offers the best options to keep her doing the things she loves in the home she loves. if she ever falls, or needs help, i know we can get to her quickly, and with her condition that can be critical. and even though she doesn't typically go far from home, the button always goes with her. these days, she's still as busy as ever. just the way she likes it. innovation and you. philips lifeline. lifeline is america's #1 medical alert service. visit today or call this number for your free brochure and ask about free activation. is san francisco in 1:00 p.m. in new york. pimm: shares of april rise on the first day of trading
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following the company's from ebay. betty: cuba reopens its embassy after i do that lasted for five decades. with validity future that we will look at the future relations between the two countries. whether therek at is a potential risk to the overall u.s. economy. ♪ betty: good afternoon. mark: thanks for joining us. let us begin with a look at the markets on this monday, july 20. wall street being sent higher today. the s&p 500 was above its may 21 closing record earlier. dow industrial and the nasdaq are also higher on this monday.


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