Skip to main content

tv   Bloomberg Markets  Bloomberg  June 5, 2015 11:00am-12:01pm EDT

11:00 am
prime minister will explain the actions to this parliament in just a few moments. matt: hack attacks. 4 million government workers allegedly had their personal information stolen. officials say the culprit is the chinese government. 10 years after katrina. pimm: new orleans is back and better than ever. the mayor is here to tell us why lower oil prices are not holding the city back. ♪ matt: good morning. i am matt miller. pimm: i am pimm fox. let's take a look at the markets right now. let's look at stocks. the dowcks falling even jones industrial average down about 17 points. nasdaq moving higher.
11:01 am
just of less than one point . matt: it is surprising to see such little movement after the payroll report this morning and because most stocks are moving down. if you look at the s&p 500, qc a big majority of them moving down. 282 and 217. pimm: and treasuries. maybe the federal reserve will raise interest rates so the yield goes higher in prices go lower. the yield on the 10 year is that 239. matt: i am paying close attention to the dollar this morning it is a -- it is up to a 13 year high against the yen. it is up more than one full percentage point. the biggest movement today and currencies. pimm: it looks as if the economy is showing strength. after starting the year in a slump, payrolls rose in may by
11:02 am
more than -- in more than five months. that is more than the median forecast of economists that were surveyed by bloomberg. the labor secretary told bloomberg that creating jobs is not enough. the economy has to create the right kinds of jobs. >> export related jobs pay better in the aggregate. roughly 50% to 18% more. .- 15% to 18% more export related jobs are well-paying jobs. pimm: more people started looking for work last month and that caused the jobless rate to take up to 5.5%. opec is staying the course and that means more competition for market share between all of those oil producers. the 12 nations of the oil cartel agreed to keep their daily production at 30 million barrels. that should mean more pain for
11:03 am
oil producers that entitled a record number of rigs because of the oil glut. it should also keep a lid on energy cost for consumers and keep inflation in check. oil prices are down about 6% this week. u.s. officials are familiar with the hackers that sold data on as many as 4 million former and current government employees. they say it is the work of chinese cyber thieves that artie stolen information from health care companies. they may be targeting employees have security clearance and are looking for personal information that could be used for blackmail purposes. china has rejected suggestions that it is responsible. matt: the world's largest retailer has a new chairman this morning. walmart board has elected greg penner. he will succeed rob walton, sam's son. he is 45 and joined the board in 2008. our board,comes to
11:04 am
because of our families commitment combined with strong, independent director voices, we have a great balance. this is so important right now with the tremendous change that all retail is going through. matt: he has held a number of management positions at walmart. he has been a venture capitalist and were to goldman sachs. maybe you have heard of craft beers, but now pepsi wants you to drink craft sodas. they are launching stubborn soda. it will use real sugar instead of corn syrup used in american pepsi and coke. it will include black cherry with tarragon and orange hibiscus. those are your top stories of the morning. pimm: coming up in the next hour, we will have more on the changing of the guard at walmart. olivia sterns is at the meeting in arkansas. we will go there live for details. we will look at a boutique airline that is launching all-business-class service. is it actually a viable
11:05 am
business? we will find out. how are u.s. government officials that the latest attack affecting millions of workers actually came from china? we have details. those stories and more ahead on "bloomberg market day." matt: alexis interest is addressing our limit. a decision that took much of europe by surprise. pimm: it is an escalation of the month-long battle between his government and its creditors. here to tell us more is on teams , chief executive of greylock capital. his firm added to its greek debt holdings after the party came to power in january. good to see you. how are you feeling about adding it to your portfolio? hans: i think it is upside-downside. how much you can make and how much you can lose at this point
11:06 am
with greek bonds compared to any other peripheral country in europe. i think the odds are in your favor. if something does fall apart, it is relatively limited. it is likely they will not service the private sector bonds even if they do default to the imf and the ecb, which i think is unlikely. it is artie been beaten up so much. -- already been beaten up so much. pimm: why would they treat private bondholders any better? hans: we already took a haircut. one of the sticking points in the negotiation is from the official sector. they have a maturity bomb between five and seven years which they need to deal with to get their finances going forward. when we sat down at the table and negotiated with them we agreed to 53.5% cut on the principal claim that we had
11:07 am
against greece. if you apply that to the official sector -- -- debt, greece would not have a problem. assuming you bought in the secondary market. hans: i was on the secondary -- i was on the -- -- we were not a huge believer in some of the peripheral country borrowing at the race they were. we are not much of a believer of those countries buying now either. at this point, if things go wrong, you will lose more than you will make if things go right. matt: isn't this a sign that they have skipped and imf payment telling you that things are going wrong? how is saying we are not good to pay you now but we promise to pay you at the end of the month -- to me, i would feel that is a real problem.
11:08 am
hans: there were signals this was an option early this week and late last week that the imf has had things bottled and paid one shot during the month. i think what the greek government is looking for is some concessions. he is under pressure by the left-wing of his party, although it is notable that the number three in the government has not been attacking him in the press. but if he is not getting any sign there is any ability to make concessions on the debt load, why pay right now? matt: he is not under as much pressure as he was, right? everyone in greece wants to stay in the eurozone as far as the actual constituents their of the prime minister. fewer of them support sippers thendidn't -- sipros during the election. hans: i would say that if there are snap elections, there are
11:09 am
some rumors that the eu is pushing to break apart the coalition and form -- get them to form a coalition and make a more centrist government. pros cane si hold his people together and get it through parliament. this is definitely a tipping point. pimm: why don't you like the bonds more now? hans: i do. i do not think it is a treat for retail investment. pimm: are you telling me you can make more money than you would lose at a big enough discount? hans: given to how the market reacted to the news coming out, i think it is well in your favorite. pimm: thank you very much. , a very newahead day for walmart. a new generation of the walton family that married in is now
11:10 am
taking on the chairman's job. ♪
11:11 am
11:12 am
matt: welcome back. julielet's go straight to hyman with a look at some of the movers in today's session. julie: let's look at dreamworks first. it was upgraded to a by. -- buy. he says a refocus on the youth segment, kids segment, is giving them some optimism as well as their tv slate. the stock is up by about 5%. i want to look at events, the clothing company. down 17%. the company cut its earnings and
11:13 am
sales forecast. they describe this as the reason -- as the reason behind this as and aright shipments reduction in the full price reorder rate. it just sounds like an overall drop in demand here for product. sticking with retail, looking at to companies that have spun off from sears. one is sears hometown and outlet stores. the others is lands end. the stock is up by 19%. the cost of the company fell by 1.2%, but it did post earnings of nine cents per share. end is falling for the second straight day after it came out with disappointing numbers. it is also holding an annual meeting today. the decline has accelerated today. the stock fell yesterday but it is falling even more today than it did yesterday. matt: big drop their, although
11:14 am
offset by the big jump in sears. i would to get the some of the top stories right now. looking at what could be a $6 billion money-laundering scheme. ask them torussia examine the stock trading activity of some of its russian clients. is placedank said it some of its moscow employees on leave while it looks into it. there has been a takeover today and the drug distribution industry. -- from itslth owner. the price is about $1.1 billion. harvard distributes generic and over-the-counter drugs. it will give cardinals specialized packaging options that hospitals want. up about 24% in the last year. whether american pharaoh wins, advertisers will be in the winner's circle here it in bc
11:15 am
has sold out about -- nbc has are poised tors benefit from the ratings bump. those were your top stories from bloomberg terminal this morning. and it is walmart shareholder week, which means thousands of employees, investors, and some celebrities have flocked to fayetteville, arkansas. pimm: there has already big -- been a big announcement. greg penner will be the new chairman. olivia sterns is in fayetteville with details. was this a surprise? olivia: perhaps it was a surprise that the announcement happened today. there has been a plot of push from institutional shareholders to have a more independent director. greg penner is a grand son-in-law of the founder, sam walton. he is an insider of the family. he has been on the board for about seven years.
11:16 am
he was vice chairman which made him the heir apparent. he has been serving as chairman of the technology and e-commerce committee. i want to read you a quote. "he brings business expertise as well as a deep knowledge and love of walmart to his role." toot of analysts i've spoken are happy to see this because they think walmart has a huge opportunity in e-commerce. they think this might be the guy because for the last 10 years he has been running a venture-capital company mostly with the walton family money out of california. they think he might be the guy to bring a little bit of tech savvy to this arkansas retailer. pimm: he might be the guy, but i understand that reese witherspoon was the star. what else is going on at the annual meeting? julie: reese witherspoon was the start. she was the emcee of the event.
11:17 am
she made a joke about how walmart users can then, stat -- snap, and stock. it was a lot of fun. i want to tell you more about e-commerce. that is what shareholders down here are so excited about. matt: ricky martin? julie: the pop singer. full screen here. matt: 2% of global sales? julie: 2% of global sales. that is it. walmart needs to move the needle on that number and there are a few reasons why they could have a leg up on they have 4500 stores in the united states. if omar can figure out how to transform that retail footprint into a back office distribution center, that would be a huge competitive advantage. walmart has the largest retail delivery fleet in the country. that means they will be pretty good at getting shipments to your door.
11:18 am
keep in mind that 90% of americans live within 10 miles of a walmart. , notis crazy, but also everybody wants things deliver to their doorstep. a lot of the people we've been meeting in arkansas really prefer pickup and walmart is rolling out plenty of experiments like click and collect., $50 matt: thank you very much for joining us. hope you're having fun down there in fayetteville, arkansas. i am jealous. coming up, the airline double take you from new york to london or paris in comfort. we'll hear from the founder of the all business-class airline. ♪
11:19 am
11:20 am
11:21 am
flying across the pond to paris or london can be a pricey expedition, especially for those of us who are too big to fly coach. we have to fly business class if we are over six foot to or 6'3". isew company, la compagnie looking to change that. i spoke with the company founder . >> when you have been lucky enough to try business-class, you do not want to go back. the only barrier was the price. my idea, my concept was simple. easy and we are going to provide to business-class travelers with some kind of advantage. the traditional low-cost because 25 years ago southwest was the pioneer into that kind of thing. the airline industry was an old lady and in need of a much
11:22 am
fresher look. matt: you have two planes, two roots, and it is all business class -- two routes, and it was all business-class. >> you are sitting in one of our airplanes right now. 74 in-flightd with beds. we do not have coach class or economy. we only do business class. matt: you can offer to the consumer at a better price? -- in fact, we are unique in the market. it to or three times cheaper than the other airlines. matt: you pass the savings on to passengers who want an flight beds. >> one type of customer in one type of product. we keep it as low as possible.
11:23 am
we make it valuable as soon as possible as well. we rely on those guys below is to make it valuable. matt: you got up to almost full capacity with that route to paris. now you are building it up in london. the want to have other routes. -- do you want to have other routes? >> we're looking at a flight a europeanrk and destination. perhaps the west coast of the u.s. as well. asia whichoing into bond gone from for too long. matt: i feel like anyone would want to buy a big piece of you. >> as i said, i never say never.
11:24 am
we will see. i am not against any kind of partnership, including one involving the capital. matt: are you thinking about going public? >> it is a possibility in the future. it would not make a lot of sense right now. in the future why not. we never say never to potential opportunities for partnership which can involve capital. matt: it is an interesting story test -- hass started another airline previously. he had it for two years before selling it to british airways they took them off the market. airlines, their business model is pack is many people in like sardines as they can. on british airways, american, continental, i cannot fly a six or seven hour flight.
11:25 am
there was not enough room for someone my size to sitting coach because of how tightly they packed the airplanes. i need to look for alternatives like this. pimm: you would be the customer? matt: they are offering to business-class flights round trip to london for $3000. to me that is a no-brainer. pimm: they have two aircraft into routes. matt: they had -- that is a great question. they have two airplanes that each flight twice a day on each of their routes. if they have a problem with the aircraft, i would say you are s.o.l. pimm: you could also buy a next her seat on the plane and coach. matt: i could buy two delta seats in example -- for example. i looked the other day. a business class flight to barcelona was $7,500. that is too expensive for my boss so i had to find another
11:26 am
one that was $2500. it was a coach seat booked on the major airlines. pimm: i will say goodbye the. matt: forget? -- for good? pimm: not for good. matt: the weekend. pimm: we will speak to the former director of homeland security about the hack attack on u.s. government workers. ♪
11:27 am
11:28 am
11:29 am
♪ pimm: welcome back. let's take a look at some of the top stories at this hour. we have not seen a jobs report like this one in five months. employers added 280,000 jobs,
11:30 am
well above the median forecast of employers surveyed by bloomberg. companies are apparently more optimistic about the economy after the first quarter slump. people started looking for jobs and that bumped up the rate 1/10 of one percentage point to 5.5%. it is almost a complete victory for barclays going back to the start of the financial crisis. they have reached a settlement thatthe -- lehman brothers will -- it had to do with their acquisition of lehman brothers act -- assets in 2008. the bank will receive all of $80 million of the $1.1 billion in dispute. walmart has a new chairman. they have elected greg penner. he the grand son-in-law of sam walton and he will succeed rob walton, sam walton's son. he is 45 years old and has had a
11:31 am
number of management positions at walmart. he is also been a venture capitalist. alibaba wants to ulster its presence in the united states. -- bolster its presence in the united states. they are opening a washing did in office -- washington office. those are your top stories of the morning. the markets are closing in europe, so for the latest let's go to narrow in london. nara: let's start with the big picture here. you can see the kleins pretty much -- declines pre-much across the board there. grease a big concern. itgreece a big concern here we still have no agreement on that bailout. it runs out at the end of this month. a big concern not just in europe, but globally.
11:32 am
if you look at the movers we are watching today in terms of benchmarks, the worst-performing in european markets today is the athens stock exchange. the only benchmark that is posted losses so far this year. ftse 100 also not doing well. extending a two-month low. 600 extendingtock to its lowest level and also month. that is fallen 6% since it hit that record high back in april. if you look at the biggest stock movers, vodafone down today. we've been watching that. it was in talks to swap assets with liberty global, but not discussing a merger to national bank of greece not only the worst performers today on the equity benchmark, but also for this week.
11:33 am
the euro has been resilient this bike concerns about greece. we have seen it have its biggest two-day gain since dude -- 2009. look what happened earlier today. you saw it absolutely plummet. that was u.s. jobs. back to you. u.s. officials say chinese hackers are responsible for stealing the records of as many as 4 million government workers. there are signs that these are the same people behind the recent cyberattacks on health insurers anthem and premier blue cross. they still information on about 80 million customers. says 11, blue cross million people may of been exposed. at the implications with the former homeland security secretary michael chertoff. he joins us be a telephone. -- via telephone.
11:34 am
and also bloombergs mike riley. can you begin by giving us any more details and what is been learned about the attack? mike: you had a disclosure yesterday that the breach of the office of personnel management was much larger than it had initially reported last year. the private and personal data of 4 million current and former government employees. they got just about everything. that is a huge number and this is a huge hit in terms of the security of government networks. the next iteration of that is that it appears that the same chinese hacking group that hit the office of personnel management is also responsible for a slew of hacks against health-care companies, health insurance companies, hospitals. it appears that china is gathering a huge database of personal information on government workers and others.
11:35 am
everything from social security numbers to things like health records, which is a scary idea. pimm: michael chertoff, who is responsible for safeguarding these online identities and all of this information? michael: the enterprise that holds the data has the response body to safeguard it. in this case it was the u.s. government itself. what is concerning is that the hackers appeared to be in the network at the office of personnel management and at the department of interior for an extended. of time -- amount of time. it was a sophisticated attack. they were careful to cover what they are doing. it suggests we are dealing with a pretty sophisticated group of actors who of been targeting a number of enterprises with massive databases. pimm: as a former government official, do you believe that
11:36 am
your own personal information is at risk? anyone who worked in the government in recent years has their data at risk. i think what is concerning about this is usually a group like this, a group that is been identified as the hackers here, is not simply out to harvest information for criminal purposes. but it is usually being sponsored by the state, in this case china for a state purpose. the question is what do they want this for? is it to troll around and see who they might identify for? further targeting -- further targeting? are their espionage issues? pimm: based on your experience, who is better at safeguarding the online information? the u.s. government or private industry? michael: i am sad to say that nobody is really that good at it. there are some sectors of the u.s. economy that have been
11:37 am
better than others and more sophisticated than others. the military and in -- intelligence networks seem to be better guarded. as we saw with the snowden incident, even sophisticated intelligence can be penetrated from inside the organization of nothing else. pimm: mike riley, if this is the work of the chinese, why are we only learning about this now? obviously the hackers know about it and the u.s. government knows about it. who are they keeping this a secret from? mike: there is an is using question about when this was discovered in when this was disclosed. apparently the hack of the office of personnel management was discovered in april. under law, they have an obligation to disclose when personal information was taken. it might've taken them a few weeks to discover what exact
11:38 am
data was taken. and the have 30 days to disclose the hack which might've triggered what happened yesterday. pimm: michael chertoff, do you believe that any of your personal information that is online is secure? michael: i think the first thing you need to do is understand that there are some things you need to have online, but something to do not need to put online. everybody has some responsibility to try to minimize the amount of data that is placed at risk by thinking through who they get data to and for what purpose did in this case, it is obviously something you have to give the government. it is disturbing that after the number of incidents we've had over the past few years this was still able to occur. i have to be honest. there is almost nothing that is impregnable. it is a question of trying to minimize vulnerability and to architect your system in a way to mitigate the damage. pimm: is this going to get worse with the proliferation of mobile devices?
11:39 am
be ael: not only will it pathway to databases, but as we actually operate physical control systems using wireless devices, they are going to become vulnerable. as we start to build up things like driverless automobiles and similar types of devices, with the be careful to make sure no but he can enter into those devices and begin to actually affect their performance in the physical world. pimm: good point. i would you think michael chertoff, former homeland security -- defense secretary. 10 years after katrina. new orleans mayor says the big easy has recovered and then some. >> we made more money last are from tourism been before katrina. ♪
11:40 am
11:41 am
11:42 am
♪ pimm: welcome back. i want to look at some of top stories crossing the terminal. federal health regulators say in extremis old drug lowers bad cholesterol more than older drugs. still, they might wait for more test results to approve it. it is the first of a new class of cholesterol drugs to come before the fda. they are considered the first major advance in lowering bad cholesterol since the introduction of spat and drugs in the late 1980's. a figure well known in the second gulf war has died. aziz was known as saddam
11:43 am
hussein's face on the world stage for many years. he served as iraq's foreign minister and was a close advisor to saddam hussein. he surrendered to u.s. troops shortly after the fall of baghdad. and a sinkhole about 15 feet deep opened up on a street south of denver, swallowing a police cruiser. a sergeant inside managed to crawl out and says he is glad it happened to him and no one else. authorities are surveilling the damage from tornadoes that swept through northern colorado overnight. those are your top stories. it has been nearly 10 years since hurricane katrina devastated new orleans. now new businesses are taking -- bloombergsts jason kelly spoke with mayor mitch landrieu about the big easy's comeback. >> economies in major american
11:44 am
cities are mostly strong. there is a way to suffer great tragedy and then find a way to move yourself back to where you want to be if you are thoughtful and strategic and you do not jump back to what you are -- were, but what you want to be. when the storm hit, everything was gone. we had to rebuild the government. we had to make sure we had the rule of law. we had to knew that businesses new they could make money there. as a consequence, businesses took a look and said his is a place i want to keep investing or do i want to fly away from? the answer depended on how well we did in our recovery. but because we started well, not only did people come back because they had to, major companies like ge came in and planted a flag. notwithstanding the aftermath of the bp oil spill, they all started reinvesting in the city.
11:45 am
when that happened in started showing confidence, other es said they wanted to play in new orleans as well. how does the current state of the market, falling oil and energy prices and new discoveries on the other side, how does that play through to your local economy? when oil prices drop it is great for everyone in the country. in terms of capitalizing the industry, not so great if it stays that way for the long-term. whenever a gets below a certain price point in louisiana for a long. of time, it tends to have a negative impact on the creation of jobs. on the positive side, because of the new shale finds, we are finding huge reservoirs of gas and oil that did not exist before. as we move into an energy independent time, louisiana has the opportunity to be a leader.
11:46 am
at some point in time, oil will go up and stabilize in louisiana will be fine. you have to think about what the future looks like and how you are ready yourself for. -- for it. >> given what you experienced with bp, are you getting support you need from the federal government, the state government , to make you feel ok about the environment will impact? >> it was a catastrophic event. i think we have regained our momentum since the bp oil spill. but he continues to raise the issue of how do you balance environmental concerns with the need to drill. we have figured out how to drill safely. i think we all need to do a better job of making sure we restore what it is we destroyed when we are extracting oil and gas. environmentalists have a good point. they say you have to protect the environment. but unless you are going to stop driving cars and stop using, we have to produce. >> your city made a commitment a
11:47 am
long time ago to put a premium on fun. it is a fun place to visit. how was the tourism industry changed in the years after katrina? >> it is actually done well. we made more money last year from tourism then before katrina. one of the things we learned how do you was monetized culture. food, art, music, tourism. we make money at. we have 600 more restaurants than we had before katrina. lots of jobs, lots of economic output. it is actually doing fairly well. >> a less sexy business is trade. what do you hear about the trade bill? >> it is a contentious issue in the votes are close. i think the president and the leadership are lobbying both sides. it is got more partisan than it should of been. most of the mayors around america that are in cities that
11:48 am
have major import an expert markets think this will be a net plus. we are encouraging people to vote for because we think it is good. >> when you think back 10 years on, what is the next big thing you have to do to really cement the recovery and re-creation of new orleans? >> cities do not turn around by themselves. it requires leadership. one of the things we have done which we think is a model for the rest of the country is shown if you have the state and local governments partnering together everyday with the private sector , the faith-based committee, the nonprofits, you can treat a place for people want to come to. that is the model for the rest of the country and why we think are the nations most immediate laboratory for innovation and change. when people come down, we have a long way to go and we do not want to leave anyone behind. it is a great story of redemption. pimm: new orleans mayor mitch
11:49 am
landrieu speaking with jason kelly. still ahead, pepsi is looking to capitalize on the craft craze. details are next. ♪
11:50 am
11:51 am
♪ pimm: craft and art seasonal are buzzwords. consumers looking to spend more for a premium product. now pepsi is looking to push into the craft business and is launching something called stubborn soda. it is a line of fountain drink that will use real sugar instead of corn syrup. joining us to tell us more is betty liu. everyone is replacing corn syrup with natural ingredients. pimm: corn syrup does come from corn and a mixing suite. so whether it is real sugar or
11:52 am
corn syrup, the craze is our teeth in a. seasonal.s art betty: black cherry with tarragon. pimm: i thought of you when they announced this. there is regular repaired i think. -- root beer. of beenoft drink sales down for 10 years in a row in the united states. what are coca-cola and pepsi co. going to do to get more people to their products? coke is still the number one beverage in the united states. a decline here of 10 years. we are drinking more though. pimm: more carbonated beverages. betty: beverage consumption has gone up 2% last year. this is one of the ways they're going to try to get the millenial's to come in to the
11:53 am
product. sure, this ismake in the incubation phase. it will be at fountains and various restaurants. dew, doso has mountain caleb cola. shine, betty: yes, the handcrafted. we are also talking about jobs. mohamed el-erian will be joining us. he says as long as we have 200,000 plus jobs that is proof that the economy is going and that is what we got this morning. pimm: thank you very much. now it is time for today's options insight. julie: i am still trying to figure out how it can be kraft if it is made by a multibillion dollar company. -- craft if it is made by a multibillion dollar company.
11:54 am
we have a mixed picture after the big jobs report. the dow and s&p trading lower. nasdaq trading little higher. joining me is mark sebastian. he is coming from the cboe in chicago. we have a jobs report and a big reaction in the treasury market and stocks are kind of shrugging . we are not seeing much movement in the vix. what gives? mark: on the open, things looked ugly. it looked like the s&p but it had a real chance of having a down 1% or 2% days. as the market looked at it, they said this is not that good and said this is more of a meh number. recovered.l interest rates are starting to recover a little bit. really seeing everything go from this is bad to this is meh.
11:55 am
this is why we are seeing a kind of tepid volatility today. julie: interesting. we are seeing more action and oil today. we had an opec meeting and the decision was no decision to keep production quotas unchanged. we saw oil spike because the court as did not go up, but then it came back down. waiters -- what are you seeing in terms of options activity? mark: oil was down a lot this morning and has since recovered. gold was out with an interesting note yesterday. optionsught they vix of was a little low. as a look at oil itself, it seemed like it was not moving very much. i like selling. i do not think oil will be doing much the next couple of weeks. i was selby july 18 put in the
11:56 am
july 21 call. i am sitting pretty. inhink the vix of oil come towards 25 of the middle of july. julie: a quick note about uso, why it -- you chose this particular etf? volatility tracks oil extremely well. it typically does not be quite as much as oil does, but it does a decent enough job. on a short-term basis it does great here at -- great. julie: don't go anywhere. "bloomberg market day" will be right back.
11:57 am
11:58 am
11:59 am
pimm: good afternoon. betty: welcome to the bloomberg market day. greece is the laying and imf
12:00 pm
payment and will look at what the prime minister may do next. pimm: payrolls jump along with wages in the strongest jobs report of the year. we will look at what it means to the economy and a potential federal reserve rate increase. is readyerican pharoah to run at the belmont stakes tomorrow and we will look at the odds of winning the first triple crown and 37 years. -- in 37 years. pimm: good afternoon. betty: let's begin with a look at how the markets are trading. equities have been mixed all morning long. it was after the better than expected jobs number. eel the concerns about


info Stream Only

Uploaded by TV Archive on