matt: right. if you take a look, bloomberg, you can see expanded majors and the swiss franc is doing quite well. most of the other currencies i see doing poorly. >> change it to today. ont: i have got it there historical ranking. >> i have got it on mine. if you do a one-day return, come inside here and you and see it is down 2.2% versus the u.s. dollar. this is bloomberg. ♪ matt: breaking news, dropping in value, now worth just about 14 to the dollar. the finance ministers south africa, calling to a playstation and given a warning statement, which authorities will give you ahead of arresting you. the story points out, they have said in the past there is concern the finance minister could be arrested on espionage charges because he set up a south african revenue service to spy on politicians, including the president jacob. a lot of intrigue and hearsay going on that is definitely affecting the currency market today. scarlet: we will keep an eye on that. shares are soaring. a turnaround finally t

matt: i'm matt miller. here's what we're watching. -- stocks edging lower. investors eagerly awaiting the fed minutes from the july meeting. explain they could help why fed officials did not signal the timing of their next move. is lower for longer a buying opportunity? hillary clinton takes the lead in key battleground states. another sign of upheaval within the campaign. scarlet: we are halfway through the u.s. trading day. track ofan is keeping the first back-to-back decline in equity markets in two weeks. julie: see more selling pressure start to build up. closer to record a couple of days ago. all three averages pushing toward the lows of the session. still not seeing huge declines. the nasdaq leaving toward half of 1% as investors await fed minutes. comments from bill dudley yesterday that september could potentially be on the table. let's take a look at the two day chart of the s&p 500 as we see the back-to-back pullback going back to the beginning of august now amounting to about 1%. we are still on

matt: what is that? the head and shoulders is a trading technique that is primarily used in it we markets. it's went come in this particular case, the dollar goes up, comes down, makes a new high, comes back down again and can't quite get the momentum to go back up again. when it comes back down and mates that line, it is considered a very sensitive line in the sand, so to speak. if yellen says nothing where hawks are looking for some push for closer ready -- fed rate hike and koroda doesn't add anything for the conversation, they may ask ago for that. matt: we see the pattern right in the middle of june, around 99 .50, which is where i guess that shoulder line has been drawn. -- and by theat or 99.5 yen 9950 per dollar. scarlet: 99.5 per dollar. matt:matt: it's going to be hard to break through that level. obviously, it is a very low level. vince: it has had a hard time breaking through. there are a lot of reasons why. if you are a corporate treasurer or a cfo, you are not going to get troubled by a yen

matt: i'm matt miller. scarlet: stocks are climbing to their highest level in more than you could emerging markets index topping the fifth week of increases. so far this year it is up by better than 15%. emerging markets have more room to run. let's join carol massar and cory johnson for more on this topic. carol: scarlet, matt, thank you very much. this is "bloomberg advantage." the manager of this fund is beating most of his peers. what, $246 billion in assets under management. this market environment, do you feel it is logical at this point in terms of what we're seeing the fundamental backdrop earnings, revenue growth, and someone act -- and so on? >> if you look at emerging markets, up mid-teens this year. it is playing catch-up. part of it is there was a bit of and people are despondent and fundamentally gotten cheap, but what most people are looking for is gdp growth better than developed markets come in a global environment that is pretty anemic for growth. second is money, important for us as botto

matt: it is noon in new york. >> welcome bloomberg markets. matt: good afternoon. i am matt miller. we are covering stories from washington to zurich to houston in this hour. here is what we are watching. stocks are in the green to start sinceg and stocks halting june. gains adding to investor confidence in the u.s. economy. we see a flurry of health care deals to close out the deal -- close out the year? suzy will be here to talk about what is on the horizon. >> what does donald trump really believe when it comes to immigration policy. we may get clarity this week. matt: we are nearing the halfway point at the trading day. let's go to the markets were abigail doolittle has the latest. abigail: great to be here. good to see you in person. we do have a nice rally going on here for u.s. stocks, the dow s&p 500 and nasdaq are all nicely hired. we see the bullish activity accelerating for the day. nice exemplified the dow having its best day since august 5. we pull up a chart in the bloomberg, beautiful rally. this is where we started. we are now nicely higher on the best day for the do

matt: i'm matt miller. we take you from washington to san francisco and cover stories out of brazil. carson block of muddy waters targets medical device maker st. jude, saying they are vulnerable to hacking. good think there is a very chance it is about to lose close to half of its revenue for a period that could be two years or longer, and this would be due to device recalls. the jackson hole summit gets underway today, we hear from kansas city fed president esther george who says gains in inflation may mean it is time for a rate hike. s valuation may be north of $50 billion but the company faces challenges in profitability. what does that say about its business model? halfway through the trading day, let's go to the markets desk. ramy inocencio has been tracking the moves. the markets are in a hold pattern right now, looking at the majors. holding to the flat line just above and below th. the nasdaq is the biggest gainer right now, up less than .2%. markets so much moving right now, everything from carson

matt: i'm matt miller. we are talking a lot about apple. mentioned a chart on the bloomberg. i have massaged the chart for little bit, so i submitted for your interest. submit it for your interest. the slate grey blue is the amount of cash. the think is their total debt. also, no slouch, creating debt, $85 billion of debt because they have so much money overseas. to sell backostly in the u.s.. the interesting thing is the white line here. this shows income tax expenses. though they were climbing through the beginning of this decade, they have come down theyantially, or at least have even doubt, if you put a trend line there. that is why it's interesting that they may be able to put this $14 billion bill that the eu wants them to pay ireland, even though ireland does not seem to want it. nejra: it would eat up about three months of profit. recent stability could be coming to an end. yellen is signaling a potential rate increased by the end of the year. there are many ways where you can look at bearish bets o

matt: i matt miller. here is what we are watching. stocks struggle as investors parse signals from stanley fischer about a rate increase possibly. will his comments keep markets on the edge? medivation for $14 billion. we will cover what medivation has that everyone wanted. matt: donald trump thought it was a good idea to start a mortgage company in 2006, a year and half later of course it went bust. we will to you why it was risky business from the start and how it conflicts with his image today. withet: as always we start the markets. halfway through the u.s. trading day. rainy in a sense you has the latest. ramy: the fed as well as pharma are the wins that are blowing change agents. looking at the dow s&p and nasdaq we saw the dow and s&p slip into positive territory but we have seen gains fade away basically. the s&p 500 down about 2/10 of a percent. this is after stanley fischer did say that the u.s. economy could see some growth later this year. potentially putting another fed rate hike on the table. let's see what is happening

matt: live from the town manhattan, i am matt miller. barton.am mark this is bloomberg markets on bloomberg television. ♪ >> nonmanufacturing index, the measure of the services economy coming in at 55.5, about in line with the 55.9 that economists had estimated. this lowdown from june passes reading of 66 and a half. from 56 and ahigh half from prior month. anything above 50 does signal expansion. still seeing an expansion. we are still seeing a mix, little changed market. the dow had been down seven sessions going into today. the longest losing streak since mid-june. though today is sideways-on the past couple of days have in sideways, the more recent uptrend in stocks made the s&p 500 is trading above the forecast. take a look here. the s&p 500 is in white. the average forecast in blue, it was awfully back in 2014, the saw the s&p very barely above the line. more significantly above at this point. historically, strategists tend to be more bullish. prices, 10:30. a rebound in oil today. up by 1% at the moment after industry data, we w

matt: i'm matt miller. we are covering stories from washington, rio de janeiro, and london. oil on track for its biggest weekly advance since april after saudi arabia signaled it prepared to discuss stabilizing markets after crude tumbled into a bear market last week. we will hear from the eia administrator. something president obama, hillary clinton and even donald trump can agree on, corporate tax versions need to stop, so why isn't anything being done to stop them? exclusive interview with the ceo of manitowoc foodservice. the company reported lower-than-expected quarterly results. we will ask him why the brexit vote are hurting the company's bottom line. we are halfway into the trading day. let's go to the markets desk with julie hyman. losses accelerating a little bit after that trio of record yesterday for the three major averages, the first time in 1999. all three major averages now around the low of the session. the dow jones leading losses down by nearly 60 points. pretty volume is lackluster on th

matt: it does not appear to be. they richly got back to sherman and burleigh, that they went south on sherman away from the original scene. they have now moved out of the park and are behind the officers. the officers are moving south with those armored vehicles intel -- in to w as these protesters are moving back towards them. kathy: these are still milwaukee police officers and that national guard members, because we know the national guard has been activated but not employed -- not deployed. correct? matt: i mentioned i saw were there a staging earlier in the evening. for their safety, i kept the police squads and share of squads and dozens of fire trucks and ambulances ready and waiting, along with these armored vehicles. you saw how quickly those armored vehicles swooped into the neighborhood. it looks like they're starting to throw things at the officers again as the officers moved south. they continue to jump into those vehicles, moving in and out of the crowd. it looks like they are not only on foot, but as

matt: good point. inconceivablet be for central banks to run into difficulties if they are buying assets outside their own country. matt: they have been reducing anyway. foreign holders of treasuries have been reducing. boe,et: going back to the how does this experiment with the failed reverse auction change or prompted the boe to a just what it does next time? >> we will know more thursday when they publish a schedule of what they will buy next week. there is probably some recalibration going on here. again, they did not ask for brexit. no one would argue with the contention that the brexit pushed the boe into this fresh round of stimulus. this is where we are. joe: one of the arguments for tenderple don't want to their bonds at these reverse is they have nowhere else to put them men, especially in countries where the official rate is negative. they would have to find some other negative yielding bond or hold cash at negative rates. how much does that create a problem? we live in an environment that h

matt: i am matt miller. scarlet: the justice department has opened a criminal investigation into whether hampton creek committed fraud by buying its own mayo from the stores. >> thank you. olivia -- olivia zaleski is our technology reporter. where are we on this hampton creek story? olivia: yesterday, -- this morning, we reported that the department of justice opened a criminal investigation into hampton creek and the purchase of their own product. last week, we know the securities and exchange commission opened an inquiry into the company as well. carol: they are basically looking to see if hampton creek was giving up their numbers, correct? olivia: correct. we don't know if they are looking at other things yet. carol: give us some background on hampton creek. who they are and why they might need to do this? olivia: hampton creek is an incredible company with a beautiful mission. the mission of the company is to replace meat products with plant-based proteins. if you have mayonnaise and you are putting egg

well, matt, you're at the table now. -matt: yeah. -lemonis: how's it going? matt: it's good. beer's doing great. -lemonis: is it? -matt: yeah. lemonis: beer sales, as a percentage of total sales, have actually slipped a little. is that because of the time of year? matt: um, time of year, but if you look at last year, it's slipped since last year, too. lemonis: about a year ago, i invested in a comprehensive tap system, and we doubled the number of beers that we stocked on the retail side. everyone knows that craft beers are expanding in popularity, but our numbers are falling, and that makes no sense. we got how many tables and chairs in here? mike: about 145 people, yeah. lemonis: and so 145 seats should turn two times a night. that's 2,030 people a week should come through here. how many guests a week are you seeing? man: 600 to 700. lemonis: you're operating at less than 40% capacity. we need to have that retail restaurant bar be busier more often. so, the bar business and the internet business are operating separately, right? who buys the wine for the internet business? m

matt: now they don't believe that. i was looking back to see what kind of shareholder activity could have led to this change. i saw that hershey is controlled by this trust that was under fire for lavish spending. there was an investigation. they promised to do better. story with the owners of hershey? rip gene wilder indeed. fitting this news would come on the same day. hershey has a normal corporate board as every company does. but it also has a trust charged with looking after the interests of hershey the town. they get the ultimate call on whether or not this company gets. sold even if the board approved the deal, it is up to the to decide if the board made the right decision. it never made it that far. matt: mondelez would have to make it very appealing to the people to whom the trust reports for the trust to think about it because they represent the town in pennsylvania. an amorphous concept on which interest they are serving. there has been a lot of criticism because the trust is often under fire for apparently

matt. >> thanks matt. a camera catches a gas station shootout in atlanta with a woman getting caught in the crossfire. it started with an altercation between the driver of a black dodge charger and another man. in the video you see the other man motion towards his handgun. the driver then gets outs pulls out an ak-47 from the charger. gunfire erupts with several bullets hitting a windshield. a woman sitting in that charger was hit during the exchange. no word on her condition and no arrests have been made. >> now to presidential politics. ton trump hadonald trump tells e would be fair but firm. that has people wondering if he's softening his previous hard line stance. during a rally in austin texas trump sales he's not looking to hurt people and he would mainly focus deportation efforts only on those who are criminals. this is a bit different from what he has said in the past calling for the mass deportation of all 11 million people in the u.s. illegally. perhaps there will be more clarification next week

matt: we are covering stories from new york, south hollow, to your hunt is berg. -- johannesburg. nejra: stocks on track to close out what would be an eerily calm august. matt: keeping a close eye on brazil, whether to remove dilma rousseff could come at any moment. nejra: donald trump lending a quick trick to mexico surely before the republican presidential nominee is slated to give a speech on immigration in phoenix. are nearing the halfway point of the trading day. let's head over to the markets desk. lastil: it looks like the day of august is a down day for u.s. stocks. three major averages all trading lower near session lows. these losses are somewhat modest, but importantly for the dow and s&p 500, today's declines have put these two indexes on pace for monthly declines. for the dow, the first since january. s&p 500, the first since february. we have a few hours left. one pressure on stocks today is certainly oil. oil absolutely plunging after department of energy data earlier today s

joyce: matt, can you zero in on where that is? matt: car fire south of center street. let me widen it looks like it is 44th, couple of blocks south of center street, a car fire on the road. it looks like the gas tank just popped. don't see any crowds. don't see any firefighters yet, but there are a couple of squads on either into the block, possibly waiting for the fire department. kathy: we did not see anyone run from the car or anything? matt: nope. tell that was a squad car at one point, can you? matt: it doesn't have a rack on the top. if it does, it would be an undercover car. joyce: less not, we saw many of them destroyed. kathy: you can widen out and we can get an idea of what seeing tonight. here it is a must 1:00 in the morning monday morning, the second night in a row of police involved in trying to deal with the unrest on the street. tonight, the focus has been on protesters. now you have a car fire. joyce: is this another angle of matt: it is the same car. this is sherman high school here. it is actually 45th street and a block north of center street is whe

matt miller has a look at the latest. matt: yes, let's look at the majors. looking at the s&p, checking to see whether the range of trading is even anywhere approaching 1%. now 433not seen that days when you count that session. the dow is down .2%. the s&p down about one third of 1%. the nasdaq is down .5%. we have not seen big swings in the major indexes and the s&p's civic lay for 33 days. take a look at the chart that i pulled out of the library. 2487. you can see we charted the swings and the size of them. we have not been at the size here of one point i percent for over a month. it has been very slow trading, a calm august. swings inger commodities. you will see the metal is down firmly and the miners, as a result, are down today. 13%, and downey percent, almost all of the metals are logging in law is today. we also see once again taking a big died today, if you look at the past week, a really rough time of trading and more and more news starts to build up about at the pen pricing -- epipen pricing. the fb pen is necessary for isple -- the epipen necess

first, though, matt salemme is a news chopper 12. matt: we are over i-94. coming up tonight, there will be a full freeway closure. they are putting in these girders, and the next segment goes indirectly over i-94 east down. a 94 north on ramp will be p.m. the weather could affect that, so it could take longer, it could take shorter. right now, things are moving smoothly through the area. use greenfield avenue or blue mounds as your alternate route. travel times look great. 94 eastbound from more than road into downtown, a five-minute ride. that is a look at your morning commute live from news chopper 12. been a melinda, back to yo more communities are bracing for high rub -- high waters in louisiana. wisn 12 news' tim elliott is live in the newsroom. tim: it is an absolute mess down there, been. -- ben. thousands of people are continuing to deal with devastation this morning. torrential rains and flooding has destroyed thousands of homes and is blamed for as many as 13 deaths. after more than two feet of rain dropped in some places. louisiana's governor say

hard to say, matt and tam. and this morning we are watch something issues once again with the regional rails. paoli thorndale regional rail line some clarification now on exactly what's going on. it's not running between thorndale and malvern because of some lingering issues with amtrak wire problems that we had yesterday. so that chunk thorndale to malvern is suspended. now if you can get to malvern they are running trains into center city. one train every 40 minutes. this is the situation at least until 7:00 this morning so we'll keep you posted. a clunk of the line not running, a chunk not running as often as it shop. >>> along 422 we're running okay here. headed eastbound into king of prussia not a bad ride just tapping the brakes at this point. westbound we'll have midday construction as you head towards trooper road from 9:00 until 2:30 and that's each day this week and that will undoubtedly slow you down. construction from 9 o'clock until 4 o'clock in chester as you come offer the commodore barry bridge

matt. >> thank you, matt. >>> this is new on "action news." three children fell a ferris wheel at a county fair in tennessee. witnesses say the basket they were in that tipped over spilling the children out like water. they fell more than 30 feet. the children were rushed to the hospital where greenville police say they are now alert and talking. officials plan to release more information later this morning. >> firefighters in southern california are racing to keep a growing wildfire away from their homes. the so-called pilot fire in the san bernadino national forest is only 6 percent contained. mandatory evacuations are under way and. residents near silver wood lake are packed up and ready to go at a moment's notice. >>> 16 helicopters are dumping water on this hard to reach area. the blaze broke out sunday afternoon. it's already charred nearly 10 square miles. >>> big misunderstanding caused this high speed chase in san diego. police were hot on the tail of an suv for several miles for erratic driving. the driver finally pulled over and a w

matt: think you very much. scarlet: still ahead, we will hear from mark mobius on helicopter money and his outlook on japan. this is bloomberg. ♪ scarlet: i'm scarlet fu. legendary investor mark mobius says helicopter money will be the next big experiment, and it could happen next month. he spoke exclusively with bloomberg. >> we will engage in helicopter money with great care and great reluctance, and of course if they do it to carefully, it will have side effects. scarlet: joining us for more, betty liu. a lot of people say that the push for helicopter money will be if the yen crosses a certain level. betty: you have the nail on the head. what mark mobius said that was so interesting, he's saying, they are going to do it, but it's likely not going to have the desired effect, so why do it at all? matt: typical bank of japan policy, is in that how they do it? they doesn't really bring it with their fiscal policy. scarlet: that reminds me of another central-bank. but why did i have to do it? like you said, bec

matt: it is all straight ahead on "bloomberg best." ♪ matt: hello, welcome. i am matt miller. this is "bloomberg best." the weekly review of the most important business news, analysis and interviews from bloomberg television from around the world. throughout the week, investor attention focused firmly on friday, awaiting janet yellen 's speech at the jackson hole symposium. but on monday, comments from the vice chair caused a stir. >> stanley fischer signaled that a rate hike is still on the table for 2016. speaking in aspen, colorado on sunday, he said "we are close to , the targets. looking ahead i expect gdp growth to pick up as we recover from the surprisingly weak patch in the drag of dollar diminishes." what would you call this? >> i described this as less of an aggressive hawk and a slightly more ill tempered dove. >> gradations of cautiousness. [laughter] >> do you think the rate hike is on the table? >> without question, they should be considering a rate hike. the economic conditions in the u.s. without question warns one. the real question, how can the global economy

oliver: today with matt miller, matt? matt: we are going to talk with manager of k km, joining me from the cboe in chicago. biggest gaining sectors today, obviously utilities because investors looking for yield have done well in the past months and weeks. but today specifically it is interesting because the oil prices down. and yet youre down see utilities up. is this just a defensive play? dan: it feels like it. if it is like we are seeing the treasuries reacting positively. it feels like there is some defensive repositioning today. but overall you have seen over the course of the last several weeks, utilities coming under some selling pressure. today it feels like a bit of defense of positioning ahead of the speech this friday from fed chairman yellen out and jackson hole. we will have to see if it continues. it feels like it more often today. matt: will we hear from the fed from dudley, from fisher, twice from dudley and others, that we may get an interest rate hike, that they really are data dependent, and the data lo

matt. >> thank you, matt. >>> now it's time for your first look at business at the big board. this is apple's first patent for a vehicle and it's not really what a lot of people expect. the image shows something that the tech giant might use in a tank. and that it would be for war situations. outside of that, apple as usual is not saying anything. some have speculated apple may enter the e vehicle market and compete with tesla. this looks like something they might build for the military we don't know. >>> stock futures are flat right now. >>> you can feed philadelphia parking meters right from your phone. the ppa has rolled out its digital payment program city wide. the meter upapp send you a text when you are time is running out so you don't have to go to the sidewalk kiosk or get that or worse a parking particular. the parking authority those have the kiosks installed over the city by september. >> people into new hampshire have a new way to play pokÈmon go players. they launched poke aid. the facebook book asked players to bring a canned food item. they carry back the food

matt: i'm matt miller. scarlet: mark crumpton has more than his room. progressiveiance of groups is pressuring hillary clinton to keep people connected to wall street out of the transition team and white house if she wins in november. the groups include moveon.org and democracy for america. they say it will demonstrate clinton is serious about her promises like opposing the transpacific partnership trade court heard tomorrow mrs. clinton will deliver a speech on the economy in michigan. it will be at 1:15 new york time and bloomberg will of course have live coverage. cnn reports the secret service has spoken to donald trump's campaign staff about comments some say were a threat to mrs. clinton. the remarks, made yesterday in north carolina, trump suggested gun owners could stop a clinton agenda. trump denies threatening violence and says he was referring to gun owners' political power. a former 82 new jersey governor chris christie texted to a colleague that christie "flat out lied" during a news conference about the george washington bridge lane closin

matt pelman, matt o'donnell, karen rogers, i'm tamala edwards. stay cool. iso let me tell you what i knowe about senator pat toomey.. my mom was the principal at sandy hook school in newtown. she died that day protecting the young children in her care. when it came time to vote on background checks, pat toomey crossed party lines to do the right thing. that's who he is, and i'm grateful. independence usa pac is responsible for the content of this advertising. >>> good morning, america. breaking overnight a search for survivors under way after deadly floods hit the south. 30,000 rescued. the national guard pulling people to safety. now rivers are on the rise as the midwest faces twisters overnight and severe weather moves east. >>> donald trump talking tough on terror and immigration. >> i call it extreme, extreme vetting. >> how trump says he will keep america safe from isis and will his reset last as vice president joe biden hits the trail with hillary clinton calling trump's ideas dangerous. >>> we have an abc news exclusive. the 10-year-old girl who fell

introducing new aleve direct therapy. >> matt: it is a frightening image. a california highway patrol officers motorbike smashed up in laying in the middle of the road. how did things get to this bad place? we are teaming up with our affiliate for the details and the team of heroes who came t help. here is reed grinsell. >> reporter: in an instant, a similarly paranoid ex-con put a cops life in grave danger. >> how heartless can you be to just do that to someone? >> reporter: his life, hanging by a thread, and he needs help fast. >> we are praying for the best outcome. >> reporter: michael erickson, officer with the company highway patrol, responding to what he thinks is a routine call, a stranded driver in the middle of the highway just outside sacramento, california. a dangerous ex-con, scott has been arrested not once, not twice, but four times for various crimes including drug possession. and he is on the run. he hit the road after allegedly stealing his own mother's truck in reno, nevada. for some reason, he stopped in the middle of a busy highway. off

that's a look at the morning commute, back to you. >> matt, thankyou. his death sparked ds of unrest in milwaukee sherman park neighborhood, this morning smith is being laid to rest. the family and friends are gathering to say good-bye. mike anderson is live outside of the church with a look ahead. >> good morning, ben, we have moved inside the sanctuary here this morning, the reverend jessie jackson is expected to deliver the eulogy. the 23-year-old was shot and killed by a milwaukee police officer in the sherman park neighborhood. it happened during a traffic stop. smith was armed at the time with a gun and w him in the chest and arm. on healing frothe tensions ssing that erupted in the following days, including the fires and lootings and shootings. the smith family doesn't condone the violence. the funeral is held here today at noon, this is near 86th and good hope. there is a visitation for the family just before the service. news this morning." >> mike, thank you. the departmt of justice is investigating smith's death. the body camera video is not

matt. >> thank you, matt. >>> two women were shot in camden and one of them is in grave condition. i know we're still looking at matt. the gunfire went off along the 800 block of south sixth street at 9:00 last night. police officers with camden county rushed the two women to cooper university hospital. investigators have not yet said who shot the women or why. >>> authorities are trying to determine if street racing is to blame for a crash that killed a three-year-old girl. this happened late last night at second and york streets in the city's kensington neighborhood. "action news" reporter annie mcdorm mick is live at the accident investigation division with the latest. annie. >> reporter: and matt, that's right, police doubly do believe two vehicles were street racing when one hit a vehicle with a innocent family inside and killed the girl. they have the driver of the striking vehicle in custody a 17-year-old but they're still looking for the driver and the vehicle that fled the scene. chopper6 hd over seco

we are going live to matt for updates. matt? >> tim, divers are back in the retention pond here in kenosha and you can see they have got the air tanks on, there are two with air wet suit only. they have done a search in just the wet suits in the shallow water and now the divers are in and searching the deeper center. the retention pond is not big, but deep enough to submerge the s.u.v. and worth noting, there is a gasoline leaked out of the vehicle and into the pond. we are continuing to monitor the situation and bringing you the updates when they are available. >> matt, thank you. you are watching "12 news this morning." some rain, a little maybe, maybe. >> we are on the way to a change in the weather pattern. today, tonight and tomorrow on weather watch. it is a while since we have had a rain complex like i am watching the development of the showers and thunderstorms across iowa. there is a chance some of these will be holding together and we see them about the middle of the day, around lunchtime if they hold tonight. the wind

now the matt up in news chopper 12. sally, not a cloud in the sky. a couple on the other side of the lake. our half is looking pretty good. the sun is up over the lake. grab the shades if you are headed out. you can see here though, no delays on the system. we are looking at the mitchell interchange. all directions are moving go here. the travel times, just a tap on the brakes. right there around national avenue... that's a look at the morning commute, back to you. >> matt, thank you. >> stupids headed back to class, sorry, kids, a new warning for the backpacks. >> 14,000 kids are treated for backpack injuries every year. the most common injuries here. the backpack should weigh no more than 10 to 20 percent of the body weight and you want to make sure it is not positioned too high on their back. >> back to school season, and you can help thousands of milwaukee students, wisn 12 is partnering for the class act phone bank tomorrow and wednesday. call in to make donations. you can help us and the radio partners bus on wednesday. or how about this, donat

for dave murphy matt pelman matt o'donnell karen rogers and tamala edwards. stay cool. >> ♪ >>> good morning, america. donald trump defending himself after a comment being called a threat against hillary clinton. >> if she gets to pick her judges, nothing you can do, folks. although the second amendment people, maybe there is, i don't know. >> trump says he was not suggesting violence and clinton facing her own troubles overnight. a new batch of her e-mails made public. >>> breaking overnight a former librarian killed by police in front of a horrified crowd. shot while volunteering for a demonstration at a police safety event. the latest on what officers say was a terrible accident. >>> flash flood danger. a woman rescued after a car barrels into a bridge. now more monsoon rain hitting the southwest and a dangerous heat wave moving east. >>> gold medal glory at the olympics. the world's best

matt: thank you very much. isrlet: viacom second egg voting shareholder speaks on why he's going to give the interim ceo a chance. this is bloomberg. ♪ scarlet: deciding how to reboot paramount pictures will be the ceot task awaiting new duly. -- dooley. mario bailey says he's willing to give tom dooley a chance. directors,ot 50 new it's not costing my clients any incremental money because he's got a contract in place. he's got a parachute and he has until the end of the fiscal year. why would anybody in their right mind want to change the ceo, cfo, and coo all at once when you don't have to? scarlet: if you read between the lines, he has until september 30 and the end of the fiscal year. but what timeframe does he really have to get something done? that hed said earlier wanted to leave six or eight months ago and that was a good time to roll something out of the hat. the funny thing he said -- that was an awful movie from paramount,. it,organ freeman stars in ben hur. that's a good metaphor for what is wrong

we are going up to matt now? >> so far so good, this is the bypass, south of beloit road and it is moving nicely here. in fact, northbound. we are crash free and delay free rights now across the system. i will continue to keep my eyes on it. that's a look at the morning commute, back to you. >> all right, matt, thank you. this morning a new plea to federal lawmakers to set aside to fight the zika virus, this is as the fla tla students are headed back to class in the zika hot zone. beach is calling on congress to send his state more resources. there are three schools in the miami beach zika zone. another six schools in a nearby florida neighborhood in the transmission zone. the buildings are stocked up with bug spray and the students are encouraged to wear long sleeves. earlier in the year, president obama requested $1.9 billion to develop a vaccine and control the mosquitos that carry the virus, lawmakers went out on recess without passing anything. they'll return to work after labor day. 14 locally acquired case

for matt, matt, and david, i'm tam, have a good one. [chicken crows] honey what are you doing? watching a cow. oh, what's it doing? [cow crows like chicken] impressions. [cow crows like chicken] power up your morning with a new 300 calorie egg white grill. only at chick-fil-a. >>> good morning, america. three massive wildfires are tearing through washington. families evacuated. a ring of flames, clouds of smoke destroy homes. firefighters battle 25 major blazes in the west. >>> trump's new tactic. his campaign signaling a possible change on immigration as he faces backlash over his attempts to appeal to minorities and this morning new questions for hillary clinton over her e-mails. is she trying to blame colin powell for her problem? >>> ryan lochte still under fire despite his tearful apology for that scandal in rio. >> i just want to say i am truly 110%, i am sorry and it won't happen again. i lerred from it. >> the u.s. olympic committee says the gold medalist and his teammates aren't off the lock. now lochte facing questions about endorsements and his future in the pool. >>

matt: right. amy: how do you see this playing out as you have watched trump's surge and now being roundly condemned? the latest, 50 national security experts, officials coming out against him. they are republican. and then what hillary clinton represents. matt: i remember talking just after the crash, i guess it was almost eight years ago now, a lot of people on wall street and therehington felt that if were not adequate measures to clean up the financial services sector after what happened, there was going to be some kind of a social movement, whether it was on the left or right. people were going to be so upset that somewhere, this was going to impact, create some unrest somewhere. i think that movement really coalesced on the right and the republican side, and they overthrew the republican party essentially with this ridiculous candidate, donald trump. i think you cannot leave these problems unaddressed. you cannot continually kick the can down the road and not punish the offender he related, p

matt: i am matt miller. ♪ scarlet: oil rebounding to $40 a barrel, stocks going higher. media earnings take center stage. 20th century fox out in minutes. joe: credit showing signs of weakness. is that a signal of concern for other asset classes? matt: hillary clinton will be u.s.ext u.s. president if consumer confidence continues to rise, according to our guest. scarlet: we begin with market minutes. the dow ended its seven-day losing streak, s&p 500 also climbing. s&p rebounding from its biggest lost in four weeks. we are trying to weigh different things like the latest jobs data and corporate earnings. joe: pretty solid day. nothing to germanic word dramatic. who contributes the most, who takes the most away. the top five index points contributors, four were financials, aig, j.p. morgan, citi paul giving big contributions. p functionk at the ima on bloomberg, energy stocks did the best. joe: on the government bond , there continues to be selling the last several days. you can look at the australian a sharp jumpd, ace sharp jum up. that's keeping with the broader story

matt: well worth it. i know p90 was a 700 horsepower equivalent with all-wheel drive. >> it is certainly ludicrous and it lives of just lives up to the name. it is the fastest car in the world according to elon musk, production car, non-racecar. section --from 2.8 seconds. you have to be discerning to realize the difference but there is an improvement. >> they watch this incremental progress of the electric car industry -- what does this mean -- my microphone matt: you're asking what this means for the electric car industry and i think it is a great question. elon musk can brag now that he has the faster car than any other internal combustion engine. >> it goes over 300 miles on a angle charge. so it eliminates all of the stigma if you think about it. electric cars are supposed to be dowdy and this is the ultimate cool. they are supposed to leave you by the side of the road stranded because they have run out of the jews. you can go 300 miles. it takes away a lot of the things that keep people out of elect

>> matt, thank you. >> 6:21. a teacher is making a big >> rap lyrics that are going viral. >> we have a look at the latest show coming to milwaukee. >> actor ben affleck stops by feingold: that's my grandfather with a brand new truck. it was one of the first to come out of this plant in 1923. but today, too many good manufacturing jobs are shipped away because of a tax code that actually rewards companies for exporting jobs. that will save taxpayer money and help business create jobs here. i'm russ feingold and i approve this message because we don't need an economy that works only for ceos, >> now to the social square. >> leslie jones not responding since the hackers took over her website. the private photos were posted to the website yesterday. this is coming after hit with many celebrities have showed support for jones on social media. >> it is nearly four months since pop singer prince's death and now the estate is opening to the public. it is available for tours in october. only a few hundred people

♪ matt: u.s. stocks closing lower, dragged down by apple. joe: "what'd you miss?" matt: u.s. stocks retreat from record highs. , asset market action class by class. pay $14.5 ordered to billion after the european commission said ireland illegally/the company's tax bill. >> lawmakers on both sides of the aisle, we speak to goldman sachs about what is next for the country in the market. let's kick it off with market minutes. stocks down across the board, individual movers, one being apple. down three quarters of 1%. not as big, 14 billion dollar company, will enter into a merger of equals. by the samewn amount that potash is up. joe: the government bond markets quiet. virtually nothing going on. short-term rates down. long-term rates up. , that's some steepening why the financials rally. >> some action in the fx markets. a fifth dayng for of against the yen, the longest winning streak since march. this is on speculation we will get a rate hike from the fed this year. i am also keeping an eye on the brazilian currency, the best-performing against the dollar this year. lower,y, a

i wait for the ding and matt, here we go. dearly b gather tonight at the linq to celebrate the union of matt and sarah. matt your personal vow. baby love you. i love you. ring. find this ring. seriously. >> do you take matt to be your husband? >> i do. >> do you take sarah to be your wife? >> i do. >> jeff: we got 30 seconds left. sarah, get in there. down to 34 seconds. cheer them on, folks. cheer them on. this is for wedding bands and a 3 day cruise through the mexican riviera. you can do this. guys. you're at 20 seconds. we're at 20 second. oh god, oh god. i kind of want to help too. i'm going to help too i think. let me see here. oh my gosh. >> we got 5, 4, 3, 2, 1! oh, god. keep going. keep going. we're going to make this work. keep going. keep going. come on, cheer them on, folks. cheer them on. oh. it's not quite a michael minden ring. et cetera a ring pop and this is still legally binding. sarah is not happy. let's see. opa! let's do with the ring pop here. we can work out something. for the cruise. they really want t

matt? matt: giving and assist get the windows boarding up here after the fire deficit of the building. some folks in the parking lot starting to pick up some of the debris, that was the second fire that was set last night. we had a flare up at jet beauty. the fire department came back out, dpw here in the process of doing some cleanup and board up trying to get these buildings secured, so the doors and around looking at the site, take video and photos. the lucky police are trying to keep folks from putting ourselves in jeopardy by walking right after that. you can see is definitely a dangerous structure. the roof collapsed, but sections of it are still hanging on. you can see not much supporting the sections that are still hanging on. is not a good idea to go near any of these sites. structures because of all the fire. above truman park in newschopper 12, matt salemme, news chopper 12. patrick: all this started after yesterday's fatal officer-involved shooting near 44th and auer. thema: tha

matt. >> good morning, matt. we're live along the schuylkill expressway at the off ramp to 30th street. the eastbound off-ramp is going to close for construction at 8:00 tonight overnight but right now everything looks fine. update on our overturned dump truck in mercer county is coming up when "action news" continues on this tuesday morning. >> ♪ >> ♪ >> 5:44. pretty nice sunrise over atlantic city new jersey. it's 77 degrees already on city avenue. getting up to 94 today. it's not necessarily going to be hotter in terms of the temperature but the humidity going to make it feel like it's above 100. >> matt pelman i don't know if people are going but hopefully it includes a pool in the destination. >> we're a week into this heat wave. now i think that's more than enough but you know what, i'm saving my complaints for february so hopefully you're powering through it as well. coming out of the burbs this morning just a couple of issues but one of them is a biggy. it's in lawrence township mercer county and it's

matt: it has come back well today. joe: it did get a bounce today. matt: cisco is out. scarlet: fiscal fourth-quarter adjusted earnings per share of $.63, better than analysts anticipation of 60%, also an improvement of $.59 from last year. revenue $12.6 billion, higher than as to men's, but does represent a drop from last year. you're looking at a third quarter of revenue decline for cisco. , $.58 toof the outlook 68's sense per share for earnings. for earnings.are gross margins, profitability at cisco in the quarter that was , 64.6%, consensus was for 64%. cisco has been shifting towards services and software, higher margins. will cut 55 hundred jobs, a layoff announcement expected, but the report has said 14,000 jobs, so assuming this is the extent of the less thannt that is what that report had said. nonetheless, 55 hundred job cuts at cisco, the stock down just over 2.6%. on those jobils cuts, action begins in the first quarter of 2017, so given that we have just reported , theh-quarter numbers restructuring will focus on security, internet of things, data, and the

scarlet: matt did by a lot of ties while he was in london. matt: every day. scarlet: coming up, a closer look at china's mysterious tourism numbers and why they don't totally add up. this is bloomberg. ♪ mark: the impeachment trial of brazil's president turned into a shouting match that was suspended for a second time today. the head of the senate declared stupidity is endless and call t criticized someone who spoke against it. she denies any wrongdoing and says her enemies are trying to stage a coup. the former labor leader has denied wrongdoing and says he is the victim of political persecution. the french top court has burkinis. a ban on the ruling specifically concerns a ban in the town but the decision is expected to set a legal precedent. the spacex dragon capsules back on earth with scientific gifts from the international space station. it parachuted into the pacific loaded with 3000 pounds of research and equipment including a dozen mice that traveled on the dragon as part of the genetic study. global news 20 for hours a day inered by 2600 journalis

matt. >> thank you, matt. breaking news a strong earthquake rattled central italy leaving one noun ruins. at least 11 people are dead and many more are hurt and missing. the quake a magnitude 6.2 was centered 100 miles north of rome and struck while many were sleeping. one person said it was so strong it felt as though their bed actually walked across the room. the 5.5 aftershock hit just an hour later followed by at least 35 other aftershocks. rescue teams are searching in the rubble of collapsed buildings for any survivors. the town of amatrice which is 80 miles northeast of rome is devastated. entire palazzos were razed. >>> viewers informed of us what they call a tow trap in south philadelphia. they say the tow company uses bait trucks and hidden signs to lure drivers into the scheme. "action news" reporter katherine scott is live at broad and alter streets where dozens of car owners fell victim so far the tow company has not responded to the allegations but a lot of people around here think this is a trap