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tv   Bloomberg Markets  Bloomberg  October 22, 2015 3:00pm-4:01pm EDT

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welcome to bloomberg "market day." i am betty liu right here from bloomberg world headquarters. we have a lot ahead for you starting with the global stock rally building in the u.s.. strong earnings add to the gains after mario draghi hence more stimulus may be on the way. in shares get hit again after the man says he thinks valiant is doing something illegal. hillary clinton is still testifying before a house committee about the 2012 attacks against u.s. personnel in benghazi, libya. she accepted responsibility for the attack but it insists that she worked hard afterwards to protect the department workers. an hour away from
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set closing bell. we have seen a global stock rally. given what we've seen for mario draghi but earnings helping things along the way. julie: a lot of contributing to them rally. major averages at the highest since august 19. of these that is true for the s&p 500. we have read -- reach the highest level since then. the nasdaq pretty much chasing each other. of returnst more this week. little bit more closely aligned today. the earnings are better than estimated. better than it acted economic data. part of mario draghi is the equation talking about the potential for more stimulus. when you look at the bloomberg terminal, you see it as a broad-based rally today. basically almost all of the groups are in the green today with health care the only are lacquer -- are the only lacquers
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. reported earnings that were better than estimated. consumer staples pretty crust -- pretty much across the board we are seeing gains. i wanted to point out the best performance earnings wide. progress onaking the turn around, at least that is how it looks. comparable sales around the globe of 4%, double than what analysts had estimated. ebay in its first-quarter reporting after it split off with paypal and reporting numbers that beat estimates. customers during the quarter. texas instruments also beating estimates and rising the most in seven years as chip demand appears to be relatively resilient tear. a number of large companies reporting earnings and seeming to help sentiment overall. lacquerede has been a . it has been a lacquered all month. today the culprit is community
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health, and that is after the company came out with preliminary estimates that missed and saw a drop in hospital admissions. some analysts think the benefit that some of these hospitals reap from health care perform is starting to roll off. tenet healthcare, universal health services have yet to report earnings, so there is a lot of trepidation about what those companies may say. then there is valiant. it has come up a little bit from the lows of the session, but still down by about 12%. we have had a number of analysts come out and make comments about the stock. i don't know if you watched the comments earlier, he called it that heard in the punch bowl. i think that was my favorite quote from the interview. descriptive, and also in line with what they have been calling valley and. julie hyman at the markets desk. now a check of the headlines.
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this afternoon mark crumpton has more from our news desk. ink: on capitol hill washington, the houston got the committee has reconvened after sometimes bruising earlier session. at issue, what type of information was hillary clinton receiving about security conditions in 2012. at one point mrs. clinton took exception when asked if she deliberately interfered with security that cost the life of a colleague. >> i would imagine i have what happenedbout than all of you put together. i have lost more sleep than all of you put together. i have been racking my brain about what more could have been done or should have been done. the panel's chairman, trey gowdy said of the hearings that have been held on the benghazi situation previously --
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previously, these questions linger because previous investigations were not the row. paul ryan another step poster to becoming cigarette the house. 170 conservatives offered their endorsement today. the backing means ryan has locked up support from the three major house republican groups he were tested. election isadership next week. president obama and pakistan's prime minister are meeting at the white house. both leaders expected to discuss financial assistance for pakistan in return for scaling back the nuclear program. pakistan says it is trying to revive stalled to talk -- peace talks between the taliban government and taliban. a military operation in northern dozens of kurdish captors but at least one soldier was killed in the operation. the rescue effort was carried out overnight in an islamic state stronghold. washington post is reporting as many as 70 kurdish captors were set free.
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investigators are blaming the environmental protection agency for a $3 million waste spill from a call a friend -- california gold mine. they said the cleanup crew rushed to work. this bill could have been avoided if the eta team checked water levels before digging into the mind. mexican authorities say they have seized 10 tons of marijuana from a sophisticated connell along the us-mexico border complete with a real car system, lighting and metal beams to prevent collapse. the tunnel purportedly will extend it deep into san diego and design to smuggle drugs into the united states. the first wordat news right now. you can only find the latest news at betty: thank you. mark crumpton at the news desk. azz has opened the door to more stimulus. this is all boating well for at thehat are here for
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session highs. nothing of euro, which has tumbled to a three-week low falling against all 16 of the major counterparts. joining me with more perspective is the ceo of axiom capital. with the stimulus you are seeing clearly a nice, bullish reaction, but kind of a double edged toward, isn't it? >> we have seen this before. reaction above what the market expects will create a set fighting, particularly in equities. we are in the throes of that. this may not be a panacea this time, because we are much later in the cycle and there are other headwinds out there. decelerating commodity consumption. local capital flows are shifting around and becoming less study. i suspect we will have a couple of days of follow-on fighting and then back to fundamentals. betty: ok, does that mean more volatility ahead? >> i think we're in an elongated
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rosses of fighting. buying.s of we volatility environment were in was unsustainable. we are now returning to more normal, which means you backed up and downs. betty: i hear what you are saying about a lot more headwinds, but even so, the ecb says we will put more money in here. raise rates by the end of this year, but nobody believes them, right gekko doesn't that say all clear here? if we get into a real deflationary environment, which i think everyone is afraid of and will be front -- will be profoundly negative for equities. on thee mixed a signals economy. numbers that look fairly good and housing and deceleration and on the limit status.
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u.s. is performing pretty well, but we definitely have deceleration overseas. certain companies are dealing with the problem better than others. today we have great news from donald. we have negative news from other companies that are having a harder time. caterpillar dealing with international issues. .hree days we are back to block and tackle. it tell youdoes about the short interest and the s&p has not gone down that much. we thought we might have seen a short squeeze during the rally. what does it tell you if interest is still pretty high? >> i only really use that at extreme points.
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you have this large consists doing -- constituency of shorts that pretty much do not go away. they vary in degrees. right now the fact that we are in mid range from where we were pre-summer to where we were in anddepth of the august september swoon, we are back in the middle. betty: we thought we would see a negative return. now we are just back to flat. >> back to flat. that matches up if you take the isor six years and you have a big down followed by an up, you would have a flattening process where the market tries to resettle at fair value. i think that is what we are in. betty: you would say this, but you say back to active investing. the trend you believe is almost at the end? i think dispersion is obviously picking up. you can see it in the performance of shares.
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even this month. apple was down 3% at one point. commodities opsware up. at the same time a lot of leading stocks were down. we are in a very different environment. the environment coming out of 2008 leading up to 2014, i think we're coming out of that. betty: now is the time to be a stock picker. thank you. the ceo of axiom capital management. breaking news now. we want to go to julie hyman. julie: this has to do with the drugmaker obvious. avias. -- the fda is warning there is a risk with the hepatitis c treatment that is specially marked for patients with underlying liver deterioration. the fda issuing a risk of liver damage onto the company's hepatitis c medication. we are seeing the stocks drop
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sharply. , downeeing it off a cliff by 13%. as we were talking about health care, already the worst performing today because of negative earnings route -- earnings news from the hospital but now adding to this with the news. looking at my terminal, it does not seem as if this is one of the larger drugs. right now the stock is accelerating the kleins and down by 14%. already investors are pretty nervous about the filter itself anyway so that is just adding to the nervousness. thank you, julie hyman. much more ahead. valiant shares are continuing to drop deep in the red after the company's use of specialty pharmacy that is called into
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question. one analyst with a neutral rating on this rock joins us. goldman sachs takes action to rebuild the commodities desk and it is hiring from where? glencore. a huge earnings day or companies. tell you the numbers and what to look out for in a moment. ♪
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betty: good afternoon, and welcome back to the bloomberg "market day." a look at some of the biggest is the stories in the news right now. -- credits wence said it no longer wants to act as a market maker for bond exiting primary dealer roles. some of the biggest bankers
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ailing back in the key business and credits we says it will remain a primary dealer for the u.s. treasury market. u.s. regulators still do not of the airline ruptures but no longer believe it is a manufacturing problem. it is a done deal. a vote to ratify a new contract between the united auto workers union and chrysler failed through. inon members overwhelmingly favor of the provides -- revise deal earlier this month. scrapped plans to create a health care cooperative for employees. ofwe mentioned, shares avianca dropping like a rock. the fda says that the tightest see drug is tied to a serious liver injury. just coming off of the bottom.
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sally and pharmaceuticals explanation of the relationship with pharmacies that distributed drugs have not satisfied investors. this is a cornering to a scathing report yesterday equating the company to a pharmaceutical enron. we sat down with andron left. >> pharmacies are outsourcing their chief privacy officer. none of it makes sense. i'vematter of fact, and will do this in the next few days, if i take all the responses from all of the silicide and include with it responses from the companies, you will see three different responses. the responses are amateurish. they are acting the way they are because the shares are still feeling the pain or a second day in a row. they will hold an investor call
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on monday to address all of the allegations. here to talk about what he ainks for this report is neutral rating on valiant. you are not changing the rating echoplex know, i am not. i have been agnostic on the stock for quite some time for reasons that have nothing to do with all of this stuff. callompany is what i would a roll on steroids, at least in the context of health care. they have been serial acquirers of assets. what is problematic and what became problematic for me to or three years ago is there are wide swaths of the business that i'mowned -- that are ok but analyzable. it is difficult for me to get a read on the true organic growth of the country -- company. betty: what is ok to you? in the business they have
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dozens and dozens of older drugs . a lot of those drugs are mature. the question is how much of those products are driven by price? betty: you mean jacking up the price? >> exactly. that is lower quality growth and good old-fashioned quality growth. they have a number of emerging markets businesses. over-the-counter generic drugs. very difficult to track prescription trends in any of these countries. these are from southeast asia, central and eastern europe. we are talking about disparate parts, a lot of moving parts, and that makes it difficult to say is it 10% or 15%? we don't really know. what do you make of the allegations by citroen? >> now we're going into unchartered territory.
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i have seen citroen get exact -- get aggressive with other biopharmaceutical companies. frankly what i would like to know is what they are trading is what they are trading around. i think that is important. that is one part of the story. the other part is there is one thing to say accounting practices are aboveboard. it is right another to be transparent, fully transparent. i would like to see more meat on the bone in terms of addressing this. exactly. you do not believe they are stuffing the channel? >> i will reserve judgment. this, i have known this company for quite some time. have they been aggressive? i think the answer is yes. they are smart enough to know what is obviously fraud and what is obviously illegal.
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betty: so did enron. >> right. my point is i find it hard to fathom it would do something that egregious, but we will see. people feel that every time allegations arise and you reserve judgment because you want to see the evidence. do you have questions? do you feel at least on that and they waned what the pharmacies are? >> i think for the most part they have. the idea is to have these two competing forces. have a more computing landscape. that is a fact of life. pharmacy benefit managers are trying to maximize margins. on the other hand drug companies are trying to improve patient access. ultimately this will result in higher margins for those
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companies. these are two competing forces. that is essentially what you have. a free market system where you have one pair on one side and another and they are essentially butting heads. that is all there is to it. we seized specialty pharmacies getting used i am number of companies in this space, it's usually not with any material impact of the businesses. it is a tool being used increasingly. i do not think there is anything really earth shattering about specialty pharmacies in and of it self. betty: right. they are not inherently fraud. at least that is what they are saying. thank you for joining us and .our opinion a senior analyst at piper jaffray. still ahead, goldman sachs is
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making a big push to rebuild the commodity trading business. the bank just tired traders from glencore. hired traders from glencore. ♪
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betty: welcome back to the bloomberg "market day." bloomberg has learned goldman sachs has hired traders from the hedge fund. this move -- this move comes as they have read bill commodities stream after a stream of departures. joining as is michael moore with more on this tory. who are they hiring exactly. >> a couple of commodity metals sign firms.of buy it is part of the effort. goldman sachs has historically investingdities effort. now they are building more toward building back into the trading area. they have had to get out of physical investing because of
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capital rules and scrutiny. top banks among the banks in terms of revenue. they have been the most committed to the business, not surprising given that lloyd blankfein came from the commodities business. that is not particularly surprising. --y have been ready vocal pretty vocal in saying committed to the business while others have pulled back. betty: michael moore on goldman sachs. opening the book after the closing bell. two consecutive quarterly profits. we will find out soon. ♪ the only way to get better is to challenge yourself,
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and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20.
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it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. betty: live from bloomberg world headquarters in midtown, manhattan. you are watching the bloomberg "market day."
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i am betty liu. mark crumpton has more from the new desk. u.s. secretary of state hillary clinton has spent most of the day on capitol hill testifying before the house committee about a deadly attack in benghazi, libya. committee told mrs. clinton she must account for government actions before and after four diplomats were killed. mrs. clinton said the safety of u.s. diplomats cannot always be guerin teed. >> we will never prevent every act of terrorism or achieve perfect security. and that we inevitably must accept the level of risk to protect our country and advance our interests and values. mark: a kansas republican asked mrs. clinton why no one was fired after the benghazi attacks. she replied a department investigators in her word could not find a breach of duty.
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the u.s. senate set to pass a bill aimed at proving cyber security. -- and proving cyber security. a procedural vote taken today represented a healthy endorsement of the bill proposed by companies such as apple and dropbox. they said it lacked key privacy protections and may result in personal information ending up in the government hands. officials in israel say to palestinian stabbed a jewish man at the school bus stop outside jerusalem. the least fatally shot one of the attackers and gloom did another. it was the latest incident in more than a month of violence. ast night police killed jewish man thinking he was an israeli attacker. benjamin netanyahu talked about this in berlin today with the u.s. secretary of state. john kerry said he will present plans for defusing the violence over the weekend. russia is pushing for early
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presidential elections in syria. the official said the president would decide himself whether or not to see reelection and syriae conditions in should not be an obstacle to the boat. united states, european union, and the gulf cooperation council all refuse to recognize the previous election. el niño is back and could be hearing up to wreck havoc. it has not really reached north america yet. it could be one of the three strongest el niño weather patterns since 1980. whether officials said we should expect major disruptions including widespread drought and flooding. that is a look at the first word news right now. you can always find the latest news at thank you. mark crumpton at the news desk. now we are less than 30 minutes away from the closing bell. julie hyman has a look at where stocks are trading on the big
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rally we have had the far. talk aboutnted to the thoughts that are affected by the latebreaking news. general with gnc, nutrition centers. the stock walling sharply after a report that talked about the lawsuit of an order against the company, which bloomberg news has now confirmed, saying gnc knowingly stole dietary supplements. this cited internal company records. the lawsuits filed by the oregon attorney general. a gnc spokeswoman told usa today that the company did not comment on pending litigation. after the drop the stock was halted pending news, presumably it might be some sort of response to the lawsuit. we are waiting on the news and will update you on that when we do get it. the news coming just a little while ago that the fda was foriring new warning levels
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hepatitis c treatments. those shares falling by 10% in reaction to the news. apparently 10 patients using this either had to get emergency liver transplants or ended up dying because of being treated on this drug. it will get a new warning label. there is a partner, as much taller -- much smaller drugmaker that is partnered with abbvie. todaydown by 50% following the headlines coming out on betty:. oneadlights coming out abbvie. gilead shares rising. there was a note already thinking some of the safety research on this drug shows it was safer than the competing medication, and therefore gilead would have pricing power when it came to the hepatitis c
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treatment. finally, a look overall at the markets. we are half hour away from the close of trading. those individual moves not with tandy, we are seeing falling data on economic data and mario draghi. today.the mario affect julie hyman at the markets desk. among the many companies reporting earnings, tech giants. amazon, microsoft, alphabets, parent company of google. they will announce the results after the close. after theon joins us close to tell us what we should expect. tell us about your favorite company, which is amazon. i think amazon is the most important company and all of technology. not necessarily the retailer but what is happening with amazon web services.
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they now have to break out the financial results. for only the third time we will find out about quarterly results of amazon web services. it was only 8% of sales last quarter but 84% of the profits. it is a very different is this than the retail operation and seems to have a different philosophy that it is providing big amazon profit is only part of the story. what is interesting is amazon web services is the back home of modern technology companies. whether those companies are uber portentous or two guys with a computer terminal in a garage with a dog, even cia is using amazon web services to run important parts of their business without find the money and software that goes with it . -- de you look at dell andll and back to the go battle of providing on premises
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.tuff versus the amazon model we will find out a lot more tonight. that is the thing i am looking for, how big will the business be? and how profitable will it be and what will they tell us about plans future profitability and price cuts? anotheroday i got e-mail from amazon thing i get free same-day delivery for a large number of items. they are still pushing prime. when you say there are a large number of items on amazon prime. do you mean you are shopping a large amount? betty: i have an option to buy from a large number of items on amazon. cory: and you are employing that option i would imagine. i know there are couple of amazon boxes waiting at my house right now. i get a text message and it is
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disturbing. one other thing amazon tells us is the shipping cost and how much money they lose on shipping . the company is all in on amazon prime suggesting there is a flywheel effect, people like you and me, we start spending more on amazon and not other leases and they make up more in volume that losing a little in the beginning is worth the effort. at a certain point we will want that amazon is working in terms of creating something close to operating profitability. i have been up some much on amazon for not turning a sizable profit. the return on equity probably a much more important number than the net income profitability. the return on investment capital number, we will also get that and will look to see if all of the investments they are making a starting to pay off in terms of an increased return. betty: moving on to other
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companies. microsoft reporting as well. cory: microsoft and google reporting. google reporting after the close . i think what is really interesting about those of these companies is they have changed the reporting structure. google brought this with the new cfo who came quite literally from wall street, morgan stanley, and is going to be helping to give wall street results. they can better understand about google. when it was google they lumped in all of the results of the moonshot products, the solar satellite internet providing,'s self driving car. where'd stop. they are very different kinds of business from an income statement perspective, which is a lot of these shops are losing money. diminished revenue.
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that is hidden by the advertising sales business google have. hopefully we can walk out and understand how the search advertising business works and of the other stuff works differently. similarly, microsoft has changed the reporting service. we might have a better chance -- sense of that when they report earnings as well. betty: cory johnson, thank you. much more ahead in the next 20 minutes. dunkin' brands hosting a third quarter that comes in ahead of estimates with the company's effort to expand overseas saw some challenges, and also, sales in the u.s. remain challenging. hillary clinton has been in the hot seat all day. speaking to the house committee regarding the 2012 benghazi attack. she claims she tried to protect the department personnel following the attacks. ♪
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betty: good afternoon, and welcome back to the bloomberg ofrket day." a look at some the biggest business stories in the news right now. deutsche bank may cut the bonus pool for the investment bank by $556 million or almost a third. is time to reduce costs in the securities unit. sales of previously owned homes sinceebounded by the most 2007. closing on existing homes find 4.7% to an annualized rate of 5.6 million. economists surveyed by bloomberg forecasted 5.4 million. job cuts are on the horizon at 3m. they will shed 1500 workers as
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they fight sluggish growth overseas and a stronger dollar. 2015 also lowering the profit forecast and the full-year revenue projections. you can always get more business news at dunkin' brands announced third-quarter performance this morning beat analyst estimates. dunkin' brands as a parent of dunkin' donuts posted revenue of $210 million in the quarter and profit of 46 million. the nearly 100% franchised as this is working to ask band global reach. -- working to ask the end global reach. pand global reach. joining me is the ceo, nigel travis. always good to see you here. it is not morning, so i do not have my dunkin coffee but i am always in the mood for a donut. mentioned in the
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report you are happy with the performance, but you know you need to get u.s. sales, you need to reverse the trend and get that going. what are you doing? u s concrete's one point 1%. investors want to see more than that. what are you doing with that? said i was disappointed and those sales, but we beat mcdonald's, which is very good. we are working with our franchisees as we always do. that is very important to us. we want to drive the comps. we are looking at value. i think in the third quarter we may have focused a little bit on much.increases too we are having those discussions and have had many discussions in the past few weeks. we have some great promotions like this maki auto i have in front of me. machiato in front
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of me. we have some of the donut that did very well this summer. a value promotion we are planning for later this quarter. on top of that, we continue to grow way above might ask dictations. we have now hit tree .6 million perks members. this drives loyalty to our brand in helps our customers stick with dunkin' donuts. on top of that, the mobile app really works well. we are doing to portland, oregon with a mobile ordering test. we will test it to get all of the bugs out. few bugsere were a because it was very popular, is very popular, but people were finding i guess there was so many on the apps that it was bugging out a little bit? got it absolutely right.
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we had so much success in just a couple of days ago we had a certain promotion with the sports teams were if they win and you get a free coffee. we also had a lot of offers. we have some national offers, regional offers, and offers specially for betty liu. the result was we did overpower the app. we believe we have resolved these problems. we have worked very hard with our vendor, but it is important to learn from that. mobile ordering is a big initiative. it helps us manage labor much more efficiently at the store we believe. it makes it easier for the customer and speeds up service. we have to transfer the learning from the perks issued to mobile ordering. i really think it will be a significant driver of the business in the future betty:. betty:you mentioned mcdonald's early on. mcdonald's has just introduced
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all-day breakfast. is that eating into dunkin' we check every day and it is not eating in at all. i think it will help us overall. at no place can you get the same menu all day every day and dunkin' donuts. we have done it for years. it goes back to our history. our franchisees are trained in it, the crew is trained in it. the same breakfast 5:00 at night as you can 7:00 in the morning, and i think it will underline what you can get a dunkin' donuts. i see this as a plus, not a negative. thing aboutther your turn around, i don't even ,ant to call it a turnaround just trying to get more sales and people more on mobile and digital is most of your restaurants are owned by franchisees. you do not own any of your restaurants.
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is it hard then to get all of these restaurants in line to some of the initiatives you are talking about? we actually own 45 restaurants. we saw a drop between q2 and q3. it is all about influence. we are working very hard. we intend to improve our trend. providenceam out in talking to franchisees. these days we have so much data as a result of the technology investment we have made. it is difficult to understand all the information. i think we have some compelling things to talk to them about. betty: are they on board? >> no doubt. franchisees are excited about the need to drive transactions and technology is an enabler. in this day and age of war -- the world is moving at work speed. it is difficult to keep up.
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i think we're developing a way to help franchisees keep up with what is going on. we are a leader in technology. i am not sure everyone understands that. and i see her reaction of the stock price for we not only met consensus expectations but beat it, i think it is irrational. we are excited about the future and will continue to be a growth in the store development. we have more people lined up to be dunkin franchisees than any time in our history's -- history. we are very happy with the margins they see when we opened the stores. betty: thank you. nigel travis, ceo of dunkin brands. talks will close at the top of the hour. and as we go to break, here is a look at how companies are reported earnings this morning, how are they doing, including mcdonald's. ♪
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betty: welcome back to the
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bloomberg "market day." i am betty liu. the markets close at the top of the hour, and there has in a big rally in stock today. julie: i was just looking at to 10 day it is 38% average on the s&p 500. we are seeing the rally on relatively heavy volume, which could be a good sign in terms of sustainability. we are seeing stocks close up your the highs of the session. i have the imap up. one last look at the sectors on the move. tech continues the leadership. a cyclical lead gain. house care -- health care remains a laggard in today's session. one thing i have noticed is the vix this month on the track for the worst month of her potentially. we had earnings winners i wanted
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to point out today. ebay coming out in the first report posts the paypal spinoff with numbers that beat estimates. missing estimates but the stock has been higher for must on the session. the health care front hospital stocks trading lower. numbers came in below estimates. then there is the drug news we , thetalked about, abbvie fda putting a warning on the hepatitis c having to do with liver risk. valley and pharmaceuticals continued to decline. thank you so much, julie hyman at the markets desk. a lot happening in the drug care industry. markets are way up. joining us is all of her run it -- oliver reneg. >> the biggest take away is it
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feels like the good old days of acutely rally. if you look at the stock market and see stock that are at one point close to 2%. bonds pretty much flat. does not feel like a powerful risk-on. it feels like the idea the ecb will be accommodated and could potentially pump more money into the economy. that signals growth potential and signals dovishness without overseas slowness impacting the u.s. or questions about the u.s. economy. here a lot of the students have been accommodated -- accommodated with the questions about maybe the growth is not as strong as we thought. betty: we had some good earnings. >> true. we have even a and mcdonald's. what is more american than mcdonald's gekko consumers will
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spend money on stuff on ebay. that is definitely good. then there are weird things like -- mention caterpillar. they opened up lower after weeks of not so great earnings. they ended up positive on the day. an overall sentiment shift. i do not think it means we are out of the woods yet. volatility, the vix, back to normal and for a lot of people that equals ok. betty: thank you. bell is next.sing a huge earnings day. microsoft, amazon, i'll put that/google, at&t some of the companies reporting. -- also that. ♪
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scarlet: we are moments away from the closing bell. i'm alix steel. joe weisenthal is on assignment today.
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[closing bell ringing] scarlet: u.s. stocks soaring today. european stocks surging to a two month high. all of that after mario draghi says the banks can be ready for more stimulus this year. scarlet: but the question is "what's you miss?" we will break down the results for alphabet, the first result since changing its name from google. we also have earnings from microsoft and more. 's cash burn.bia the oil nation may run out of assets needed support spending within five years. but we begin with the markets. a banner day for stocks not just in the united states after mario draghi said they were looking to expand qe.


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