why you want to look at expenditures. thank you, robert. so if you have people that are in debt then they are not going to be able to spend all of their income. they're going to have to scrimp a bit to pay back those debts. if you look at what they are able to spend on food and housing and other things then you're going to get a better measure of their well-being. similarly, if people are living maybe beyond their long-term means, you'd like to know that and you'd like to see if they are living in a nice house, driving a nice car, you'd like to be counting that. and so in both cases, if you look at what they are spending, you are going to get a better measure of their living standards than if you looked at income. in a case when people are saving and dis-saving. probably the best two examples are you have a lot of, say, college students who are really living pretty well even though they have very little income. or you have an elderly couple that own their own home, or they own a car, and they, you know, frankly have a lot of clothes and fur

are you ready? >> oh, doll. look. >> you look awesome. i love that. >> so tiny. >> what duping? >> you look so pretty. >> thank you. >> tell us what you did. >> you know, color, over 50% of women color cheat their hair. up with of the things she said is she wanted to be a brunette fet in there. what do you think? >> i love it. it feels so great. >> good. >> i love it. take her to lunch. >> let's bring tara out. hi, wheaty. >> hi. >> why duping your mommed intoed a little re-do? >> like she works a lot. when we go out, she's home working. so she never gets a treat for herself. >> she is getting a treat today. >> are you excited to see her? >> yes. >> looks like before. suzanne, let's see you, come on out. >> wow! . >> beautiful! >> wow! what do you think, honey? smr it looks good. >> well, you know, bangs instead of botox i say. it helps to bring out her eyes, i think suzanne was a little apprehensive of cutting 10 to 1512 inches off. look at the length. it makes me feel really pretty. >> you are pretty. >> awesome. >> thank you so much. >> look how beautiful everybody is. >> all

what do you look at in the mirror and not like? >> fine lines, wrinkles around the eyes. >> your hand went up, too. my forehead. >> are you skeptical that something in a tube like this could make any difference in the forehead lines? >> skeptical? yes. i think i've tried nearly everything and i... yeah, skeptical. >> hold that thought, okay? and i also saw your hand go up. what do you think is not right about you? >> well, i've had smile lines since i was in my late 20s, and now that i'm older, they're so bad that i'm afraid to smile. i just don't like smiling anymore. >> you know, that just kills me to hear of a woman say that she doesn't want to smile. and the truth is we hear that a lot ca expressions happen, and that is where those lines tend to stay. well, the good news is there is help for those problems and for a lot more. so, let's meet the man behind this age-reversing phenomenon. please help me welcome the plastic surgeon who keeps hollywood's most famous faces looking beautiful -- my friend dr. andrew ordon. [ cheers and

when you look at the big names in technology, if you look at the last few fiscal years or the big tech companies, the likes of ell, sunlett-packard, d microsystems, they have seen year-over-year declines. cisco has not, except lately when it has. a little bit, then a little bit more. and then a little bit more. you are on the record as dubious about the number or size of the job cuts. overall if they make this transition away from the hardware business, is that going to be part of the trimming of the fat? cory: if you look back, there's a great function on the bloomberg where you can see the circles around the layoffs. usually in dreads and drags. it is crucial part of this company. using stock options to make those acquisitions. even his the issue options on the other side as well a stock to acquire things and full those things in, it is very much a part of that feature there -- look at you guys, you guys are so good. the circle on the graph shows whether it are the layoffs. cuts over the course of the last eight years, yet the employment numbers are bigger. cuts, andart from job repo

look in the early stages of recovery in the sector you want to look for those who you think will be the leader going forward and we think celgene will be the leader for the next 12 months. >> the issues that have effected drug pricing, criticism of companies in the biotech and health care space aren't going to go away any time soon. do you worry that some of that is going to come back on the campaign trail and it's going to hit the sector again or do you think as some of our folks have suggested it's all in there. everybody knows it's all in the stocki stocks and now they're prime for a breakout. >> i think it's a combination of both. i don't think the problem is going do go away. i think the discussion is going to be there and there will be a push towards rationalization of drug pricing however i think you have to look at the indications where there will be that discussion and i think where they are in oncology and immune olg the value of these drugs is there. these are diseases with debilitating effects and that can differentiate for some of the other aspects of the discussion whe

if you look at the next slide, it will give you some sense as to why. so the question for -- we asked in the survey and we've asked for several years now is how confident are you in the ability of a private exchange tad the following better than you do today. if you look at the bottom of the slide, it's really about your ability to control cost better than an employer can, your ability to advocate on behalf of my employees better than i can, and your ability to drive engagement into health programs better than what i as an employer can do today, and that confidence is pretty low on that front. the model is still evolving and most employers are not willing to take a leap of faith to jump into this until they can get a better sense of their ability to reduce costs and sustain that cost reduction over time. and, in effect, change the underlying delivery system. that's what they are waiting to see before they are more willing to move into private exchanges. excise tax, most employers still believe that they are playing with the highest enrollment will trigg

[speaking foreign language] if you look back and look -- peter: if you go back and look at the presidency, we flip flap. -- we flip flop. if my presidential candidate wins, i and a happier person than the person whose candidate lost. scarlet: that is peter atwater. angie: let's bring in joe weisenthal. everyone will be focused on what happens with hourly earnings or earnings specifically. scarlet: hourly earnings is the number we get. obviously, every month, there is a lot of noise in the data. we had a couple of weird months in a row. the may report -- scarlet: devastating the world over. joe: right. the june report was really good, and now we see the july report. important, given that we have hit the target on the employment side of the mandate third what is going on with the inflation side? the other data is certainly showing that wages are doing pretty well. for example, if you look at the atlanta fed employment tracker -- scarlet: it is on my bloomberg. let's pull it up. joe: i think 3%. scarlet: yes, whereas the average hourly earnings is 2.6% on a year-over-year basis. joe: the atl

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if you look at eps, it is growing at 33%. that is very robust growth. having said that, we did consolidate the operations of two other companies and we take the long view and despite consolidating these losses, we are generating 61% operating margin in our core commerce business. what that means is that gives us -- it gives us the luxury and the resources to invest very aggressively into new businesses like digital entertainment and our new innovation initiative such as internet cars and things like that. so we feel very comfortable with our margins. we feel that we have a lot of resource and cash flow to invest in new growth. that yahoo!ing of , is going through a sale of its core business. have they discussed with alibaba what they plan to do with the shares they hold? >> what they need to do is figure out what to do with the alibaba shares. they could also do nothing, but we are going to be fairly reactive when it comes to that. we are going to leave it to the yahoo! board to decide what they want to do with the alibaba shares. the important thing fo

you look through it. you find some language about what could peter: that's for you have -- it's 200 nautical miles from your sure. exclusive rights to fish, drill for oil, and to subsea mineral exploration. very valuable. and it's huge. the united states has bigger exclusive economic zones in terms of square miles of ocean land in the 50y states. if that comes into question, it's a big deal and it's been mostly missed by the press. david: and it comes into question why? in this long report, this long decision, what did the tribunal say about them? they interpreted the united nations convention on the law of the the, which has some language in it that has kind of never been closely analyzed that says that in order to claim one of those very valuable 200 nautical mile exclusion zones, the piece of land has to be habitable. has to be able to support human habitation, economic activity. or some of the islands, rocks, as you might call them, they have been claiming this, really i wouldn't call them habitable.

and you know, the real number -- you look at it -- $150 billion. we got nothing. we got nothing. and they think they probably paid the 400 million for the hostages, which is even worse, and now since then -- i don't know if you know -- we have two more hostages right now. why wouldn't they? two more hostages were recently grabbed, and they're in iran, and i guess what are we going to do with that one? they do $400 million, gets flown at night, into iran. think it's so sad and so disgusting and you also wonder about a government, who can prove a thing like that where they take cash into a country and just hand it to them? bushels and bushels of cash? and then you look at our country where we owe $20 trillion, is a used to say, 18. used to say 17. when i start used to say 16 and 17, enough it's 18 and 19, and soon be 20. going to be 22 very soon because we have a budget that its very expensive but it doesn't take good care of our military. our military is depleted and we have to fix our military, and i know for the navy -- one of the reporters was talking about -- how do you feel a

what we are saying is as you look at it now, as you look at the data, commissions have studied that suggests two thirds of 67% of the respondents were more likely to choose a provider who offered content that did not count against the data cap. if you look at industries, sometimes when i am concerned about his we treat this industry like it is modern and something new, but in some ways, it is like any other new industry that we ever had. there has always been free data, free shipping, nobody is calling up and saying, well, neiman marcus, if you do not give me free shipping that that free shipping is somehow a problem for all of america. i think sometimes we had intellectualized -- i think that was the big when i came to mmtc -- i get that we have to have the economic analysis. i get that we have to be able to discuss it in a wonky way, but for real americans who are struggling and to do not have the money to pay for anything unlimited, this is an opportunity and the sec, if they stay on this course, will allow an evolution that will take us where we need to go because i am telling you, when

and if you look at macy's, 17% short squeeze. ralph lauren i'm long, but again, a name that is in transition. i think the long term prospects for this company are good. but for those names that are heavily shorted, it's an existential moment. in ralph lauren's case, they are trying to get ubiquitous. you have a management team thinking forward. xrt at 46, that is the top end of a range that i would not be chasing. if anything, it's run into the resistance of 46 multiple. >> you mentioned the ones trying to get more exclusivity. cors and coach had that problem for some time and they were talking about scaling back in the department store channels. interesting to see the department stores do well during this period when they are poo-pooing their business basically. >> i plooe dwcompletely agree. i think someone that stood out to me is star get. a target versus a walmart, they really aren't a compare sisocom. walmart 56% of it is coming through grocery. target doesn't have that same blend. it's only 20% of their revenue through groc

. >> when you look at growth, though, it's still pretty tepid. think of that gdp release in the u.s. just over a percent. what do you tell your clients at the moment? can you still buy u.s. equities given the fed that could be hiking or are we thinking we should be repositioning ourselves to get into european equities? >> i would leave equities at -- that's your bigger opportunity. again, think from the fixed income perspective. the enemies are lots of growth and lots of inflation and they're largely absent. when you look at fixed income, arguably it's what type of bond. things like u.s. yield, they're pretty good. a spread close to 6% still. >> but u.s. debt is still warning us that a recession could be around the corner. >> where do you want to be if a recession is around the corner? >> of course, in that recession resiermt, fixed income is your king. >> will continue to be by the looks of things. >> let's talk about the bank of england as well. we came through last week, surprised many of us. doing a lot more than what was anticipated. i wasn'

if you look at the bloomberg, you see that we have had -- we had a diwali ration back then. the second worst performer, weakening more than 6%. markete we saw that panic in august but we are not seeing it now? george: a large component back and was whether the government was in control of everything, where they could stand the capital outflows. of had a couple of sessions the circuit breaker being triggered, so the market was afraid of any large-scale outflows that might impact stability. past couple of months, we have seen a devaluation of the yuan, but the market has been much at ease with that. theie: what do you think consensus is? betty: i think volatility is at the lowest since november and it appears as if the pboc is in control. foreign-exchange levels have stayed pretty much level. we saw that in the data that came out of the weekend, so they are not having to spend that much to intervene in the currency markets. it seems as though all the moves ofy made from the middle last year seem to be headed to a more stable currency right now. we are weeks away from the imf b

some individual stock movers in focus, particularly when you look at glen core. is german market also lower by 1%. the french cac trading with a similar raeng and the swiss as well as in the red by 1%. investors have been counting down to janet yellen. you have to wonder what exactly she can say to move markets one direction or the other. there you have it, sectors: basic resources off. health care continuing a trend with stocks off 2%. auto, insurance, and financial resources all off by more than 1% as well. >> it's interesting ethically whether or not drug companies should they be allowed to set the prices themselves. should they not? who decides what a reasonable price is and throw into that as well you have drugs they can be used for multiple things. i can't remember the name. i saw someone recently you have a drug and from the industry -- you have a drug that works for an ailment and works for another ailment, but the price difference is massive for some reasons, but doctors won't except using the less expensive version for this other ill sglns you can't pai

but, again, if you look at what democrats have done, you know, for inner cities, for inner city youth, again, 60% unemployment. they've never done anything. they've always promised great things and nothing ever happens. part of my father's message last night is why not try something new? why not give me a chance? why not bring jobs back to this country? let me fix an educational system that's a total disaster. >> so to summaryize you probably have three things here. you have an appeal to minorities and to get an actual bump in the polls from african-americans. and then you have him trying to show off in his words democratic failures in the inner cities. and going at this core criticism of him that he doesn't care about minority voters. >> nbc's jacob rascon talking about donald trump's pivot we've seen over the last four days. part of that is going after the african-american vote. thank you so much, jacob. and also this morning rnc chairman reince priebus he gave his take on donald trump's latest moves. take a listen. >> the question is whether or not in the fall making the case to th

do you >> you have to look at people's actions. you look at donald trump and his actions and developing and promoting women and breaking a mold, which today we think is nuts but 40 years ago broke the mold in allowing anyone with any background, any faith, you look at hillary clinton. she labeled african american as super predators. her campaign and supporters in her campaign were the ones that the birther movement. the success of barack obama, not based on his talent, but based on his race. it was their campaign. why can't we start judging these people based on what they actually did? she gave out state secrets. she talked about race in a way that's unacceptable. >> this week's new york times outline what trump and his father may have done when it comes to basically keeping african >> may have done. this is the issue. this is what he may have done. >> if you look at what he's done as a developer, and putting together golf courses, these clubs, the things he's been doing for the last several decades, he has broken the mold when it

if you look around the country, the picture doesn't get better for donald trump. a recent nbc wall street journal poll shows clinton leading trump in four key battle ground states. florida, up five. colorado, she's riding a little bit of a rocky mountain high there as you can see leading by 14 points. >> wow. okay, so trump is right now campaigning in historically blue state today of connecticut. what is the logic or strategy behind this as to why donald trump feels like he needs to gain some ground there? or that he could effectively do so. >> it's a great question. it's historically a blue state. they're insisting that connecticut's in play. but like pennsylvania, which we were just talking about, and he was in yesterday. connecticut hasn't voted to put a republican in the white house since 1988. but unlike the keystone state where trump is hoping to win by appealing to rust belt voters, connecticut is a solidly blue state. with trump lagging clinton in the key battle ground states we talked about. the decision to campaign in connecticut today raised a lot of ey

as you look at the rims and the cliff formation around me you see this natural break. this was a funnel. these rims run all the way to billings and quite a distance to the east. here we have a natural break where these herds of buffalo, elk and other animals would have been able to funnel down to the river, cross, and feed in this area. thus, when we talk back about the native americans and their use of the site, the idea they had this large platform to stand upon and use both for cultural ceremonies but also for hunting is immense, if you think about the number of animals that would have been in this area on a regular basis. as we think about that we think about the changes because for us the buffalo herds are not really here anymore. there are still some elk seen. the big horn sheep that were seen by clark on the cliffs are no longer here. we still have a few mountain lions hanging out in the area and, of course, coyotes wander around every once in a while. but the landmarks are still here. from those landmarks start a story. that story is of the west. pompey's pille

you look at what's going on in france, it's insane. and we don't want to be in the same position as france and germany, which is now crime-ridden. take a look at what's going on in germany with all of the -- you know, the migrants that came in. and we can't do that, sean. we have to get back to rebuilding our country, rebuild our infrastructure, create jobs, take jobs away from mexico and all these countries that are taking our jobs. that's why in harrisburg today, i have this massive group of

and you shouldn't be looking at them at the same moment you are looking at equity value funds. david: we have options insight out of action -- out of jackson hole. this is bloomberg. ♪ david: this is bloomberg. vonnie: time now for options insight. >> joining me for today's option is jim from in cam holdings. we are looking at the market lows. it is the dog days of summer and people are thinking what they are going to say in jackson hole? >> a little post brings it volatility. stable whileow and we are there. the next several months and the big ones potentially tomorrow. futures aboutd 30% chance that the fed hikes rates. points,ing by 25 basis and something we pointed out today, the treasury etf. one month at the money, it's as low as it has been. yellen did not speak at the jackson hole symposium last year. takeaway is that markets certainly on their heels. ifwill be interesting to see the commentary is on the hawkish side. >> pins and needles, for sure. us get closer to trade. it seems to be the week of discount retail. both falling off a cliff, basically. i believe dollar

, state, local money spent on education, if you look at our national report card you are seeing a flat test scores and elementary and secondary education. on the other side of the fancy of others whether it is johnson at northwestern who said while that may be true, if you actually take a look at states that have increased their spending by at least 10% over a 12 year period for students in different states you have actually seen a higher graduation rate. a higher probability that students will earn more in the workforce and the likelihood that you will see better results in health. >> c-span: if you are asked for advice on affirmative-action what would you say? spee2 by affirmative action if it means that you want to remove the barrier so that first-generation student regardless of race are able to get into school, there are few things i would recommend. number one, allow students to matriculate if they have the requisite scores and coursework to do well. we know that while the sat score will only predict how well you will do your first year in school it will not determine whether you

did you recognize him? >> i had to look him up. >> stephen: did you look him up? >> yes. >> stephen: show me on the phone what you looked up because people don't always look like their photographs. ready? >> that. >> stephen: that's him. one, two, three! >> i'm tim kaine. ?>> tim kaine? >> i have not. >> stephen: senator kaine, dwight kaufman, senator kaine. senator kaine is new to a lot of americans. >> yes. >> stephen: do you happen to know what state he's from? >> virginia. >> stephen: do you want to quiz him on anything? >> off daughter in college. >> stephen: yes, and her name is? >> helena. incorrect. >> stephen: incorrect. that is not your daughter's name. >> okay. >> stephen: what gives, >> melania. (laughter) >> stephen: no. close. >> stephen: what does this say that help doesn't know his daughter's name. >> i think he must be an imposter. >> i'm tim kaine (speaking spanish) >> stephen: and fluent in spanish, as far as you know. ? ? this is tim ? senator from virginia ? what's your name. >> say ray. sha. >> stephen: which one is the mother. >> this one. >

when you look at apple, you like apple because it is undervalued. this could be huge because not only -- they have to pay up front $10 billion. their tax arrangements in the future -- james: the u.s. authorities could have a long way to say about this. there are billions of dollars sitting offshore. -- the taxities say rules are, we tax what you tax because that is the way companies operate. there is a huge global issue as to what will happen if different authorities say we do business here, we want tax. ,tarbucks, all these players who are going to be finding a different route forward. route,e: a different that would be what? james: it is hard to see why the u.s. would agree. however, it is the case that europe was a level playing field within europe. the concept of the state aid bought into industries -- we've seen it in the banking segment when state aid led to a lot of figure wagging. i think that investors are going to be wary of marking down the asset price too far because we have some material news. apple has a day of announcements. we are ex

good, you say. >> they do look good. i can't wait to see them on friday at lambeau field. incidentally. lambeau field in august is a lot different than lambeau >> not the frozen tundra? >> no, no. only by name. >> jimmy and michael back this evening. we're see you after the olympics tonight. wow! looks like rob portman sure knows how to clear out a factory! portman voted to give tax breaks to companies that shipped our jobs overseas. and get this: he even gave them a tax break to pay for packing up the equipment and shipping it to places like china. rob portman certainly isn't going to get a lot of votes from here in ohio. >>> breaking news tonight. what did donald trump just say? controversy erupting as we come on the air after we hear what he said about hillary amendment and justice. >>> and babies i critical care being urgently moved after a potentially deadly bacteria is discovered. >>> ferris wheel accident, children being hospitalized after a terrible fall raising questions about safety. who's regulating all those

>> well -- you know, it's difficult. it's difficult. but on the other hand, you know -- look. i'm a capitalist. so i believe that investing is a professional gain. it's not, should be a hobby for a sport or shouldn't trust it to professionals. to me this points out, not that it's evil for somebody to engage in this, but why typical retail investor is ill-suited to be an investors going into an etf or passive investing or turn active investment over to somebody like rob. >> such an important thing. >> right. >> because over the last seven to ten years, markets have been driven by macro policy. and as you start to see some of the largest part of these indices have gotten quite expensi expensive. utilities, tell coase, where's value in a market and how do you uncover it gee normous energy invested in that and i think ultimately as policy diverges and prices diverge harks to pay dividends. >> all right. >>> did you know it's been 12 years since google went public? next up the stock's exceptional run and what traders were doing in 2004. can't wait to see that. discover how a lexus

it's been dry but you can change how you look at it over time up and if you look across the region, big differences. hartford, the 6th driest on record, and worcester at 17 and providence at 42. we are all dry across southern new england and the heat helps to dry things out. up in the 80s again, and watching a few spotty showers trying to ve new hampshire. you will feel a sprinkle and that's. it and you can see the cloud pattern rough stating across the seaboard. and tonight, very humid and a warm start to the day tomorrow, and a decent amount of cloud cover tonight and a couple of spontaneous showers that develop and most towns will stay dry, and we'll see if a couple can develop in the tomorrow, sunshine and heating, and then by lunch, a few showers and storms starting to develop. the atmosphere tomorrow, not great for big storms. normally, you are not routing for big severe weather but we'll see a few downpours and maybe thunder and lightning and focusing on far eastern and southeastern massachusetts. all that will dry up by 6:00 to 6:30 tomorrow evening and if you have plans nothing

if you look at president obama's approval rating. maybe americans are okay with it. >> is it enough? at this point in the campaign. donald trump did not react to protestors and is it enough of a turn to bring in those voters that he hasn't convinced yet? >> yes. this is a message that will bring americanses to the trump campaign. americans are not happy with the growth rate here. and her record is clear. the ideas she pushed as a u.s. septemberor from new york didn't create the promised 200000 jobses she would create if she was u.s. senator, the idea that hillary clinton pushed don't work and lowered taxes and getting government out of the way. >> jessica, what evident does hillary clinton presents to the voters that she is a job creator. we had a jobs report 255000. and they were lower wage jobs and they should be mediam range and questions if it was back to the tech bubbles. a until sis is shows we get better economic growth under the democrats. and those of us in the center, i am a centerist democrat and a lot of republicans that

that's true if you look at it in dollar flows. so the number of households, but the investors tend to buy bigger houses. if you look at it in dollars, in the 2005-2007 periods they increased the debt by close to 900 billion. and every other group, are nowhere near that magnitude in terms of the number of flows coming to them. so i hope i have convinced you, that is large group of borrower. and it was increasing towards the end. are their mortgages risky? yes these are flows that were very risk committee. i'll use risk in two particular ways. these were loans that add high incidence of fraud, and of default. turning first to the fraud. owner occupied fraud. you go, you get a loan and say i'm going occupy the property. >> for purchase it's hard to discover because it's about intent. no one is living in a house they haven't purchased. so lots of research into income fraud. there hasn't been much work into owner occupied fraud. it is luccative if you can say you're owner occupied, you get a lower interest rate and, lower down-payment.

if you look at the support for sterling from interest rate differentials, it is at its worst if you look at two-year yield differentials, 10 year is the worst sense -- manus: deposits, u.s. dollar deposit rate -- >> the gap between one year u.s. and one year sterling is 90 basis points. there is no yield support. we know we have a currency account deficit. we know whilst of the bank of england is talking sterling down, and mr. carney made some comments that he would be worried if inflation came through. he has been clear that he has to see the direction travel lower. ,o my mind, here we are post-brexit environment. we know there will be a shift. they will make this as competitive as possible. sterling is the easiest way to do it. manus: i'm going to take you back, 1984. you wrote a beautiful piece on the day we cut rates. in talked about nixon 1971. what caught my eye was in your notes, 1984. we vacillated between 130-134, and then we dropped. there has been three great sterling collapses over the course of the last , 1980 4, 1992,81 and 2008. each one of those was between 25% and 30%, a

are you looking at him in a? m&a?oking at has this rally in the price of caused you to lose some opportunities? mark: we cannot really get it to go to where we wanted to go in the gold was down. there are opportunities we have to keep putting them. the best gasquet only real way to keep -- -- the only real way to keep value is through discovery and development. you will see in today's results, a lot of focus on expiration, project development pipeline. that is where our focus is. we keep a close eye on developments within the market. anna: you must've been tempted, you have been critical of some of your contemporaries in the gold market and the way their run their business. -- in the way they run their business. mark: we came close to a few opportunities. anna: which stocks? more go -- mark: we look for 20% return. $1000 return price. .att -- anna: manus manus: i am outside the bank of england today that we've got the federal reserve and play. you talked to a lot of other people. what are people saying to you about br

you know the harm. you look at what's taken place in our country. san bernardino and orlando and look at what's gone on all over the world. look at the world trade center. look at what's happening. [ applause ] >> oh, boy. it's a wildlife. so you look at what we have sacrificed and what we have given up, and the level of viciousness where heads are being chopped off. people are being drown in steel cages. we haven't seen this since medieval times. i loved history. you talk about medieval times. you would never have thought you were to see the things we're seeing today. it's gotten out of control. and obama has let it get out of control. then you have hillary's made tremendous mistakes. >> you have been listening to donald trump speaking in portland, maine. you saw a third round of protesters interrupting his rally there. at one point, they were holding up what looked to be pocket sized constitutions, that a reference to the gold star family father who spoke at the democratic national convention. another point i want to fact check here. donald trump

david: take a look at growth. when you see this, what stands out to you? >> the consumer discretionary space. we have not seen a lot of earnings growth. we look at consumer discretionary, there is a light at the end of the tunnel. a lot of the companies are heavily tied to the consumer. autos, homebuilders, july new home sales and home furnishing companies. >> some of that economic data reflected on the corporate level. this is on that consumer discretionary -- you are looking at the white line, the p/e ratio versus the blue line, price relative to those earnings. there's not a lot of sectors where you see plat pe's over a three-year span. kevin: we've seen a lot of growth in terms of the stock price appreciation but we have not seen that earnings growth in the bottom line. bestmoves in line with the -- in tandem with the line. trading at a 17% discount. oliver: right stuff. -- great stuff. fedd: coming up, the great rate debate. this is bloomberg. ♪ oliver: this is "bloomberg markets." david: chatter has revolved around a call issued by the san francisc

liz: you say look through the 500 window? >> yep. liz: better vision, not the 30, because that is diminished. i'm dying to knee give us names. here we are in the midst of august. people are saying if i wanted to put a little money to work, where should i do it? >> i'm focusing on information technology, apple. i know it has been been beaten up. not anybody's favorite right now, but that actually makes it a great value. they're coming out with the iphone 7 in september. liz: down 4%. >> when they get a new release, that typically picks it back up. they have $29 per share. connell: liz: i like gilead, byron wien blackstone said buy unloved stocks. it is down 33% yet a dividend of 2.3%. >> we see negative comments about shorters, basically cycles for treating for hep-c, some competition from merck. there is a lot of negative news. it is unloved but still has some great growth and we love that stock. liz: i'm waving my arms because erin says, this is her outsider favorite, sprouts. >> sprouts farmer's market. a little smaller than what w

if you look back to ronald reagan, there you go again. you look back to the moment when h.w. bush looked at his watch. little moments can change the whole thing. >> and that's where there's also a risk in this for hillary clinton too is because she does come off as so overly scripted that if he gets her in a moment, or if she goes a little bit overboard and looks smug, remember the al gore eye roll? something like that can be very damaging. so we can't predict what that moment may be. but, you know, there's risks to both of the strategies. but, you know, in hillary clinton's case, i think she's betting that he's going to be more apt to do something that hurts himself rather than helps. >> quick final word, philip. >> i think that's exactly right. i think it's important to remember that the most effective attack during the republican debates, was when chris christie went after marco rubio. we'll have to see how he does this time. >> philip, heidi, thank you very much. it's interesting. the first one september 26th at hoff stra in new york. that is it for us tonight from washin

what are you looking at that changes your view? : the big risk is global economy and at the center of year hasin the past been china, so you have seen some stabilization on the macro friends and people are no longer running today said in terms of capital flight from china, and ethics reserves have been stable, so i think that anchors the view or at least removes some downside risk from that. across the complex, you have seen a little bit of improvement. we are ambivalent in that sense very do have stabilization but not enough to overlook the fundamental factors and persistent drags on emerging market economies, so it is the type of thing when the tide proceeds, you will see u.s. been swimming naked and we like the higher-quality markets like the u.s. versus emerging markets. vonnie: even though we are at records are equities? think that europe is a good example, where you see some upside risk equities this year. if only they could fix what is theg on with the bank, so banking sector is the key to unlocking what is otherwise a decen

do you want to look at revenue or do you want to look at the first derivative or organic revenue growth? brian: we are looking at the blunt instrument of revenue. what you are producing is a more value-oriented portfolio. if you want to look at growth of revenue, you have different characteristics. tom: this is very controversy all i would point out. francine: it's really on point and on message. on monday, we will speak to howard davies on tv. we have five hours of tom and i. this is bloomberg. ♪ francine: i am in london. we promised we would go back to oil. crude is back. oil is entering a bull market. joining us. it's great to have you on the program. we are trying to figure out what is going on. the oil has increased significantly. there may be an agreement in september when opec meets. there is nothing fundamentally different than there was a month ago is there? >>'s keep resurfacing every few months. when prices dip, the venezuelan will talk again. any miracles.ting francine: they are pumping a record. amrita: i think that's the real risk of the moment. outside of these stocks,

when you look at the exact wording used? >> which wording are you referring to? the way i saw the ad and the way the ad is received widely, it is an ad about keeping americans safe. 70% of people believe this country is less safe now than almost eight years ago when barack obama became president. barack obama will keep it safe. hillary clinton has failed to do so. >> just had a change in leadersh leadership. >> absolutely not. donald trump is an agile leader. he's a leader, a vision for the country and vision for the campaign. he chooses the absolute best smart leadership team for this campaign and for the country once he's elected. so paul manafort did a great job, got the job done in terms of getting the nomination and great leadership team, colleagues steve bannon to lead us across the finish line. >> you're republican strategist political polled a bunch of folks like your self. two-thirds of the poll thought the staffing shake-up and changes you and i are talking about right now was either a bad decision or they weren't

. >> well, you look cool. >> i do my best. >> and you have experience here in republican foreign policy circles. what did you think of the policies outlined by trump today? >> he can't offer specifics. he never gives that much in terms of policy prescriptions, what he is going to do. it was a lot of what would have been the obama terrorism strategy and where he deviated on this extreme vetting notion and commissions to basically quiz muslim immigrants and give them a so called religious test. >> you repeated viciously but we don't me what viciously means. what exactly is that going to entail? it would be nice if he outlined a little bit of that out. it is a bunch of fake tough guy talk. it is to not expand any of the arguments beyond the muslim ban and other activities he has been engaged in. >> it is not even clear if it is muslim ban plus or muslim ban minus. he talked about immigrants and their children. take a listen. >> one of my first acts of president will be to establish a commission on radical islam. the goal of the commission will be to identify and explain to the american pub

if you look at it and you look at the earnings the economies are generating, they are growing quite well and in a challenging growth environment we think investors should be looking at these names. the pipelines are trading quite attractively. these stocks have pretty solid a balance sheets and dividends and continue to generate cash. theye: what about plaxico? are about to undergo a ceo change. who should take over? richard: i do not really want to speculate on that at this stage. the trajectory the company has been going has certainly in the -- been in the right direction for us. the focus will continue to be on the pipeline. whoever comes in will continue to take on the -- attractive dividend right now where you have u.k. gilt continuing to compress yields and bonds continuing to trade lower. plus in thisld 5% environment and yelled earnings is quite attractive. higher.trazeneca 35% how much is that to do with the probability of a takeover post brexit and how much to do with similar reasons. is it a target because of brexit? richard: i think a combination of both. certainly the moveme

you recognize him. did you recognize him? >> i had to look him up. >> stephen: did you look him up? >> yes. >> stephen: show me on the phone what you looked up because people don't always look like their photographs. ready? >> that. >> stephen: that's him. one, two, three! >> i'm tim kaine. ♪ >> stephen: have you ever met tim kaine? >> i have not. >> stephen: senator kaine, dwight kaufman, senator kaine. senator kaine is new to a lot of americans. >> yes. >> stephen: do you happen to know what state he's from? >> virginia. >> stephen: do you want to quiz him on anything? >> off daughter in college. >> stephen: yes, and her name is? >> helena. incorrect. >> stephen: incorrect. that is not your daughter's name. >> okay. >> stephen: what gives, senator. >> melania. (laughter) >> stephen: no. close. >> stephen: what does this say that help doesn't know his daughter's name. >> i think he must be an imposter. >> i'm tim kaine (speaking spanish) >> stephen: and fluent in spanish, as far as you know. ♪ ♪ this is tim kaine ♪ senator from virginia what's your name. >> say ray. sha. >>

don't you have to look that way? a year, two, three from now, somebody whether it's apple, american express, paypal, you name your guy who wants to take it out. >> well, they would have bought it by now if they were interested. it's not as i maizing technology for apple companies that are benefit themselves. yes, there's an issue of getting the card readers everywhere. but that's what it is because some of the other large companies have others to take advantage of, apple really now has massive distribution and with apple pay, it's now done deals with all the major credit card playerers and with the banks. many other big companies coming in from a different perspective and if square was applied, it would have been done by now. that's my view. >> interestingly on the call they talked about the fact that they have larger merchants signing on, institutional investors participating in their lending product which is up sharply and they will be profitab profitable, at least on an adjusted basis this year, mike, that's got t

when you do look at food prices you need to bear in mind there are quite a few factors of work. you can look at noodle prices. that's been on a gradual down trend for a long time. there are different prempbtss and consumption. people can choose what they wish to consume. in the end that's why you look at the overall balanced figure of fairly moderate inflation. >> sure. david writes in and says any markets in asia you like? >> when we look at asia right now. we're cognisant of the fact china is in a position where it's injecting a fair amount of capital. there's still reasonable credit growth. monetary policy and developed markets are still very loose and we can see some of the asian countries benefit from that. indonesia is a very good example of that. they've been able to lower rates. you see a tax amnesty come through. you've see gentlemn them push t more policies. his political standing has improved dramatically. you can see the domestic environment benefitting. >> do you own homework as usually. thanks for being with us. head of emerging markets at aviva investors. >> keep

you look at the historical returns you need unification that the government and you need all branches working together so the market will want to see an effective government that can actually make changes. >> anthony this is data compiled bye bye s&p capital iq and they have shown the stock market does better when you have one party in control. why is candidate trumps not focusing on back? >> i don't understand the question because i do think he spoke a sing on it. raising money and the republican national in many which is building a ground game for the senate and house races so i i think he's focusing on it. one of the problems candidate trump is having is that there's a media distortion prism so every time he says something they are doing the best they can. be "the new york times" has come out and said listen we have dropped our objectivity on this thing. we want to go after this guy viciously so one of the things that has happened as a result of the campaign as we have now expose someone in the mainstream media for who they really are which is a lack of objectivity and it's a huge

. >> you are still looking for a distributor for the movie? >> we are. >> been more difficult than you expected to find one? >> i think a problem with the ftc hadn't ruled. so who's going to buy a movie where what if the ftc said this sbis great! that guy's crazy. right? i understand that risk. now that risk is out of the way. i think frankly the ftc ruling and the continued uncertainty in the fact we still have to have this conversation is it a pyramid scheme or not actually makes movie appropriate. we've seen it. change the cards in the end, put in some of the ftc footage. given everything you've said and the point of view that the movie puts forth, which obviously has a point of view and it's pretty one-sided obviously to say the least. are you surprised by the way the stock has traded? the fact we're sitting here as the stock is at $66, given everything that's happened. the stock is up since the settlement? >> well i think a couple of things drive that. stocks largely decoupled from fundamentals. the fundamentals at herbalife are still fin

sort of. >> you look like -- you look like an irish lass. are you an irish lass? good to meet ya. >> we gave her this great haircut. shaped it, layered it. >> oh, my gosh -- what a difference! >> and what a gorgeous dress. i thought this dress totally captured that spirit of brazil with the cool palm print. this dress is from maggie london. fits her beautifully. it almost looks like it's separates. it almost looks like a top and a dress so it has a ton of versatility. she knows who you to work it! >> and look at that body. unreal. let's give it up for janelle! you can join your family. >> ready? she works in washington at the department of justice. >> no, no, no. >> she works in a hospital! as a human resources assistant. >> her name is janice, right? >> janice balmer. she is in town celebrating her son's high school graduation. she stays in shape and does pilates every week but never thought it would be possible to get an "ambush makeover." she's very excited. >> she's 53 years old from decora, iowa. milk-fed. >> i like iowa. >> let's listen to her story. >> jani

. >> you don't want to look at it? fine. i'm the man. ?? is "entertainment tonight." >> we have the information you won't find anywhere else about chris brown's arrest. he is accused of pulling a gun on a former beauty queen. >> the question is what happened inside the singer's house? we talked to chris's accuser and i spoke exclusively to ray jay who was there. we are the only show with both sides of the story. >> i'm here to say listen, stop the press, stop. hold on. hold on. there is another side, a better side, the truth. >> ray jay told me he was upstairs getting a tattoo when this woman, baylee curran claims brown pointed a gun at her. >> has it hit you yet what happened? >> no. i'm still in shock. >> the 25-year-old said she went to brown's house to pursue the idea of being in a music video but it went awry after looking at jewelry. >> i started admiring the his friend got a little bit crazy and then that triggered chris, i think, and said i'm so tired of you people cussing me out saying [ bleep ] about -- putting the gun to my face

if you look at the report from the u.s. department of agriculture, they went and interviewed folks who didn't have any cash income but were getting s.n.a.p. it turns out a lot of them are doing odd jobs. a lot of them are getting non-cash benefits from other programs. it becomes difficult to sort of, if you're asking someone who's at the very bottom to account for all the income they had over the course of a year, the kinds of income that they get our sort of scattered enough that it's difficult to actually account for them. so it's not just that they have steady work and just our lying about it. to some extent the way people at the bottom of the income isn't like the with the rest of us get it. >> a couple more and then we will wrap up. on the right. >> mr. haskins, when you were talking about the second half of your remarks that tanf was not exactly working out as well as it possibly could have, at the in your blame a lot of that on the states, underperformance. i was just wondering could you be more specific about how st

the more you dig into this survey the worse things look for donald trump. compared to how romney did against president obama. among white voters, romney won by 24%. trump only leads by eight points. with veterans and military families, he is down by eight points in this poll. donny: clinton also leads him by 13 points among independents. even among republicans, there are warning signs for trump. he's leading clinton by 71 percentage points among republicans, less than romney. in an interview in wisconsin, trump was defiant about the state of his campaign. donald trump: i have the biggest crowds. nobody has ever seen these kinds of crowds. when i left wisconsin the last time it was over for donald trump. donald trump was not going to win. then i went to new york and went to various places, i won a landslide. donny: what the implications for his campaign? mark: this is one of the worst polls he's had because virginia is an important state. to be down with independence and not to be consolidating the republicans the way romney did and he can say everything is