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tv   Bloomberg Markets  Bloomberg  March 18, 2016 2:00pm-3:01pm EDT

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welcome to "bloomberg markets." ♪ bloomberg's world headquarters in new york, good afternoon. i am david gura. the s&p 500 and races its gains and crude oil is fluctuating today in less than a three month high. has put chesapeake ceo his biggest backer in tough financial straits. and lawmakers can vote on whether to remove the embattled brazil within the month. and right now, stocks are continuing their upward trend that we have been seen for the past day or two. s&p, and, the dow,
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nasdaq are down, you can see the nasdaq is down the least. i want to point out that at least for the dow, we are seeing the longest winning streak since october. it is generally speaking on track for its fifth week of gains. let's take a look at what is happening on the impact on the year to date for s&p. s&p is in positive territory, up 1/10 of a percent and you saw yesterday that we did see the s&p was put in positive territory for the year, but it did paul back, not able to hold onto -- did pull back, not able to hold onto those gains. hop into my bloomberg right now. let's look at these green and red boxes, they basically are the months over each of the past several years. i want to point here to this box
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right here. this is this month, march, 2016, and we are up so far on the month to date. i want to tell you that the last time we were as good as this was back in 2010 when we saw march, by about 5.8%, 5.9% there. it is not just the u.s. market, it is not just developed markets, it is also emerging markets and developing markets. you can see they're up about 16% 22e ever since the january date. you can see that they are headed for a bull market right now and david, central banks around the world have been pushing their policy towards something that is helping traders ante up equities. the math hereoing are where the fed has released its latest statement.
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janet yellen has some information there. ramy: that's right, the dollar is definitely up, it is up about one third of a percent right now. it is definitely impacting traders over the last few days but definitely wearing on the traders today. i looking at oil and gold, look at oil, it is down by about one third of 1%. 2% andseen it up by upities are up up by -- are by two thirds of 1%. david? david: now let's check on the bloomberg first word in news. mark? david, suppose it belgian terrorist attack or -- supposed belgian terrorist wascker salah abdeslam
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wounded in a police operation as police are continuing to look for one suspects to hold up in a building. 's fingerprints were found in a house search and another part of the belgian capital. abdeslam salah is accused of being a part of a number of attacks in france and other places. are trying to get into the eu, and the eu and turkey agree on a refugee deal. lead a first woman to military combatant command. if she is confirmed, she would
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be the first. a nasa astronaut and two russian cause my knots are headed to the international space station today. they are using a sore use rocket oyuez rocket. our news is powered 24 hours a overy our journalists in 150 news bureaus around the world. i'm mark crumpton. back to you. david: thank you, mark. jp morgan chase is planning more buybacks and what is the motivation for this? it is the same motivation for each of them. >> it has been low this year and it is a good time to buy back stocks and they can only request once a year to have the federal reserve give approval for buying
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back additional stocks, and this is really the last time they can do this because you have the and stress test coming up then some banks, bank of america, has said, we want to do this because we want to make sure that shareholders are not diluted because of incentive compensation. david: they have made the announcements that they are going to do this, but what does that telegraph or what does that tell us about how the federal reserve regards the state of banking with these two banks today? saying, these are fine,, but they say they don't object to these requests and proposals. so you are sort of implicitly seeing that that is how the market is interpreting that the fed is saying, yes, we are ok with this and they're healthy enough for this payoff. david: this became a rarer thing, in part because of the federal reserve stance.
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laura: yes, the federal reserve wants the banks to be able to have enough capital to deal with that. that is what this restructuring this isbout and basically like ratios that you have to keep in touch with. know, if you have a big problem, you are expected to not be asking for these kinds of things. but many people we have been talking to say, look, it looks like the federal reserve is giving more flexibility and more so than when we had the financial crisis with so many issues. david: you talked about the stress tests, so what does the timetable look like here? will be no whether or not they pass? laura: it is a little bit, and we have had some analysts described this as a black box, but we really don't hear anything about these tests until june.
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about't know anything them until much later in the process and we kind of only sure aout this if there is rejection or ultimately if they are approved and we don't really hear the back-and-forth about what the fed has concerns over, just if something is rejected. seen these we have stocks go higher today, but when you look at the end of the year, that is the question. laura: it has still been not a good. -- good period for these banks. when we talk about investment trading and revenue, most of these banks are saying or telegraphing that this is not going to be an easy quarter. and this is usually a good quarter for the year. david: all right, laura keller, thank you so much. lawmakers in brazil's lower
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house could impeach luiz inacio lula da silva. paulo with theao latest. and -- brazil's lower house could impeach dilma rousseff. we go live to sao paulo with the latest. plus, apple's iphone strategy. more bloomberg markets coming up after the break. ♪
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david: you are watching "bloomberg markets." i am david gura.
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thermo fisher scientific was topped over the bid as origin bids 1.5 the dollars for affymetrix. bankers for valeant pharmaceuticals is trying to gauge how to avoid going into default. that is according to people familiar with them. valean was required to file its 10kt under its credit agreement but it failed to do so. u.s. prosecutors are in the final days of a bribery allegation with walmart. those close to the matter say that those in china have been blamed with disclosure rules. they are looking into alleged corruption within the retail giant. and that is the bloomberg business flash. and former u.s. nato commander admiral james to previous --
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mes [indiscernible] looking -- james stav about the situation with refugees. i am notat the moment, optimistic about the talks between turkey and the european union, which are designed to stem that flow of refugees. so it is storm clouds ahead. think of general eisenhower becoming president eisenhower and establishing a post-world war ii policy. you go to jfk in berlin and then we saw what he saw with senator obama in berlin, seems like only yesterday. can secretary--
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clinton go to berlin to get things done, or can mr. trump go to berlin and get things done in regards to foreign policy? admiral? : i think you left out one, and that is reagan with gorbachev, tear down this wall. when they go overseas and they make a big speech a than they establish a position with the united states, i think secretary clinton has demonstrated that ability. i am not here to endorse her. i am a nonpartisan, former military officer, it is not appropriate, but i will say that she has been at the forefront of noble events throughout her time as secretary of state. i don't think we have really seen something comparable from mr. trump. >> how do we deal with mr. putin? earlier this week he said he would pull out troops from
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syria. he is a geo master -- he is a master when it comes to geopolitics. admiral: let's face it, this is why the ruble is flat on its back and sanctions have been imposed on russia and all on top of the decline in oil prices which make for a cold trajectory. putin and russia need the rest economically, if nothing else. so many of his policies are not going to work strategically over the long stroke. he is, as you point out, a clever task edition -- a clever planner. tom: and i learned all of my understanding of america with the "john adams" miniseries. there was a point when john adams backs out of the room and
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now we have a president lecturing the british people on breakfast. they are outraged, and outraged, i say, that the president is lecturing the people of the united kingdom. should our president be the prime minister of the united kingdom? admiral: i don't think any president should be lecturing anyone who is a head of state, let alone any other personally close heads of state. we should comment on how it looks from the american perspective and what it would entail if a certain event occurs. that is different -- occurs. that is different than telling people what is important for great britain and not the united states. david: that is admiral james sta regarding the bre
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and losing support among allies, former president luiz inacio lula da silva of brazil is a voting for removing dilma rousseff as president. this story was changing so must yesterday and it has changed since then. what is going on? toso he is still not allowed take office. the attorney general yesterday gave an interview, and he is, in fact, the minister, but he cannot act yet. the supreme court has to roll on about 10 different injunctions with the supreme court alone and some of that is expected for today but we really don't have a clear timeline on when he would take office. david: on this interview, we came across a tweet from ian bremmer and he was talking about back in 1988 and in brazil, when ls, he man goes and stea
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goes to jail, when a rich man steals, he goes to congress. -- he becomes a minister. so that was something that was in motion yesterday afternoon, so what is the process going on in the lower house? have an actual impeachment committee in the lower house, but we will have several lawmakers who will analyze the case and decide if that moves forward to the senate and of the senate will decide if they move forward, and if she steps down, then they will move forward with it. that will be somewhere in late april or may. david: i wanted to talk about the protests. we have seen a lot of antigovernment protest. we also heard there are a lot of pro-government protest in brazil. julia: yes, that's right, you are ready did have some pro-government protesters and they have been outside of his
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house since wednesday at least, sort of fighting between the groups, but there are some large protests expected for today. lula is a today is apollo. david: lastly, -- is going to be in some apollo today -- in sao paolo today. david: lastly, how is this affecting the markets? julia: it is affected the markets, similar to what we have seen in the 2014 elections. today, it is a little bit more muted. today, we had stocks coming up 4%, and it is a pretty massive reaction for the market even though the economy is really not doing that well at all. much, julia, thank you so reporting live from sao paulo. we will have more live news
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about president obama traveling to cuba to meet with cuba's president raul castro on march 21. and details on manipulating stocks. more on that coming up on "bloomberg markets." ♪
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david: welcome back to "bloomberg markets." i am david gura. on breaking news. ramy: i am talking about tesla right now. let's talk about what tesla is doing. its sixthaining for day in a row and its longest winning streak since april of 2015. nowrival automakers are going to feel some pressure because of tesla's release of its model three that is expected to be unveiled on march 31.
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toaddition to that, i want take you into my bloomberg and show you some technical that traders are probably will looking at -- that traders are probably looking at right now. you can see just today that tesla's stock has no crossed the 200 dma -- has no crossed the 200 dma. wynng on to casino stocks, is rallying, and this is the highest it has been in seven months. this is interesting because mcclary came out with a note macquarie came out with a note saying that its casino revenue will only fall 6%, and that is good news, because that is an improvement
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upon a 13% loss from last year. david: all right, thank you. investigating a priest who ran a small hedge fund. this is one of the most popular items on bloomberg right now. matt, produce us to this guy. can someone run a hedge fund and be a man of the cloth? matt: right, he gained attention last fall and he gained attention on blogs and gained a lot of attention with his he is someone who is running a fund during the week. claims he someone who is clairvoyant, i assume that that is helpful in the case. atid: the sec is looking when someone puts out information on a company, and if you are going to say, earnings
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is going to miss or something very specific and you bet against it, you can't do that. it is a security -- this breaks securities laws. what is he accused of? true, and these cases are hard to bring. this is opposite of "wolf of wall street" where he was trying to promote the stock, this is the inverse of that where you are taking a short position you are betting against and then you are trying to push the stock down. so it is a little tricky for the sec to bring because they are a little bit split on opinion. david: what kind of companies is he interested in? matt: the sec is looking at his commentary in june of 2014 where he put up commentary saying that demand areg had
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drying up and as soon as that broke, it knocked 10% off of the stock. it has since recovered, but this is the kind of commentary that he has put out. this is generally a little bit smaller, not huge, companies, wwe, those kinds of companies. david: very quickly, you have spoken to him, what has he had to say? matt: currently, he is unaware of any investigation. , thankall right, matt you. that is matt robinson. still ahead on "bloomberg markets," the death of the chesapeake founder may have created problems. that is still ahead on "bloomberg markets." ♪
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david: from bloomberg's world headquarters in new york, this is bloomberg markets. a lot of focus on brussels. mark crumpton has more.
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mark: thank you. after four months at large the main fugitive from the november attacks in paris is in custody in belgium's capital. the deputy mayor says he was shot in the leg and detained by police. authorities are looking for one person who was held up in a house. he was among several attackers that allegedly targeted cafes, a rock concert, and a stadium, in eadliest attacks in decades. angela merkel is urging refugees living in a tent city along the greek macedonian border to leave. dozens are clinging that the road used once will reopen. the german chancellor says they should trust greek authorities to find them better accommodations. she also says refugees to not have a right to choose a
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specific european country. the united states is calling for a meeting of the un security council to discuss north korea's latest ballistic mitchell -- missile launch. they fired into the seat today, define a band. this comes weeks after the council imposed more sanctions. president obama is scheduled to leave from cuba on sunday. he will have a meeting with cuban president raul castro, and the white house says he will hold discussions with dissidents. white house press secretary josh earnest discussed the trip earlier today. est: the white house and the president will determine who he meets with. i would not be surprised if there are people on the list the cuban government would prefer we not meet with, and i do not know if they have raised those concerns or not, but i can't
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tell you the president will move forward and host meetings, and have a conversation about human rights with the people he chooses to meet with. mark: president obama is also scheduled to attend a baseball game between the u.s. and cuban national team -- the first time a major league baseball team has played in cuba since 1999. local news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. i am mark crumpton. back to you. david: thank you. let's look at the biggest movers headed -- started with gold. gold is headed for its second straight weekly decline, to trim the rally this year to 18%. weekly gain,s fit longest rally since may. one analyst said oil will slip when the dollar stock plunging -- starts punching. i want to bring in david, who
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covers oil. yesterday, attribution of the current price of oil to what is going on with u.s. shell. dot: the price is dropping, and a number of producers have protected they will be down year-over-year. arespending cuts instituted starting to bear fruit. we are starting to see a drop in production. the american petroleum institute said production was the lowest since 2014 a couple of months ago. so, we are starting to see that happen. is it enough to keep the rally going further -- it is hard to tell. a lot of the rally was short covering. there were a huge number of short that's by money managers that were covered in the past few weeks. not a long -- a lot of long
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bets put on. it remains to be seen how much faith there is the rally could continue. david: it has been about three months since the congress allow the export of u.s. oil. there is a great piece on the bloomberg today about what that has meant. very little, so far, it seems. there..: it is here and the price has to be cheap enough relative to international prices to allow for a consistent flow of oil. there, it isere, becoming a regular thing, and refiners are testing it out to see if they like the oil, if refineries can run it well. if the prices work, traders will move the oil. something else that has happened recently is iran coming back onto the market and there was speculation about how quickly they could ramp up production. now that it has been a couple of months, what have we learned about that and where things might be headed?
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david m.: we learned it might not be as much of an effect as more bearish analysts thought, but it will have an effect. iran along withiran, if price -- along with iran, if prices rise fast enough, some show producers will hedge out, and take some uncompleted -- some completed wells that have already been drilled and start to finish those, and we might not see u.s. production drop as fast as it needs to. david: i want to turn to aubrey mcclendon, the founder of chesapeake. we spoke after a press conference the police gave. we are very more about his second career after he left chesapeake energy. a lot of color, in part, about how he went about raising capital, and investors that are on the other -- on the hook for some of the deals. david m.: once he left
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chesapeake, he went out quickly to raise more money from investors. he was looking for generous terms. he had a big name, but not as big as he had thought. shied away investors from some of the terms. energy minerals group did invest in his new venture, the american energy partners, and they had a number of companies that were spawned from their. can theseestion is copies keep going with the amount of depth they have put on? the timing was not good. these copies were investing and trying to buy a plan and lease rights in 2013-2014, when the price was high. as the prices of oil and gas tumbled, it made it hard for them to make money. the question is can they make enough money to drilling and producing to pay off their debt. that is what is facing a lot of copies right now. david: a fascinating piece on
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the bloomberg. maybe you can give us insight into the difficulty of reporting this out. at greatthe company is risk. you live by the price of oil, you die by the price of oil. it is hard to pinpoint what kind of shape they are in. david m.: sure. it is a private company. no share prices traded publicly. there are few indications of what they are worth. the reporters the reported the story did a good job getting into sources, talking to sources, and finding out the value of some of the debts that was being traded. saw that as low as $.15 on the dollar, recently. so, you can get the information. it is just a lot harder to pinpoint. david: david marino, thank you. coming up in the next 20 minutes , apple is set to unveil an updated version of the small-screen iphone, and a new ipad. how does the small-screen phone fit into strategy, and will it
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be a beginner boost? we'll hear about the shot -- abouthowtime's new ceo taking on hbo and netflix. showtime's parent connie, cbs, gaining 13%. more bloomberg markets after the break. ♪
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david: you are watchingdavid: bloomberg markets. i am david gura. time for the bloomberg business flash. very -- sans varies owner is unchanged from the original offer. at $975 was valued
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million. last year, darting agreed to be bye-bye to -- bought by another group. walgreens is asked -- investing $1.2 billion to build at stake. 50% stake after exercising warrants to buy 22.7 million shares. walgreens runs more than 13,000 drug stores in 11 countries. for far the firm led by ken griffin has seen an 8% drop in its main hedge fund this year. most of the losses came from citadel's survey arm, a unit that has helped to drive profits in recent years. that is the bloomberg business flash. since apple introduced its first iphone in 2007, each generation has gotten bigger. on monday, that is about to change. ceo tim cook is set to announce a smaller iphone looking to attract users that have been
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reluctant to upgrade. let's bring in crawford del pratt. a basic question -- it seemed like the movement was toward bigger phones. what has changed? pratt: one word -- segmentation. there are segments of the markets. hands only get so big. hands, and when you get to the really large phones, it is tough to reach across the screen, giggly when you are operating with one hand, and there is a preference for these five-inch -- under five-inch screens that are really attractive. apple can do some interesting things to potentially address new price points to target new customers. david: you mentioned interesting things -- what are you thinking about -- what can they do? again, a lot has
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changed since the phone started getting larger. they can be looking at a familiar form factor, which would mean even if they went to the same form factor in physical 5s, you coulde have cases in emerging markets that could use the same injected molded products. apple could integrate fast nfc to initiate apple pay. it allows you to powerful processors, more powerful batteries. has apple looks to continue selling phones, is cost still an issue, or are they worried about the affordability of the following when you are looking at the global market? mr. del prete: we think the phone will come in at a price point between $400 and $450. that is a lot less -- you can argue may as much as 40% less apple's higher-and models.
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that is a concern. it is about expanding their total available market. look at the fourth quarter. 75 millioned around phones. the total market was 500 million phones. for leaves 400 million apple to address. of months back, a lot of analysts were raising concerns about the supply chain situation. --seems like notes have been analysts have been singing a different tune in their notes. what is your take on that when you look at apple's? supply chain? mr. del prete: -- supply chain? mr. del prete: discovery does a fantastic job managing the supply chain and their caption more value with some of the innovations they are working
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with suppliers on, like what they do with foxconn. right now, when you look at a launch like this, i think, given the lackluster demand we have seen in other parts of the marketplace, i do not think that biggest to be apple's issue. i think the biggest issue is going to be the price sensitivity of a product like this, and also, if a product is too good, it starts to erode premium products in more mature markets. david: let me ask about the timing of this -- the backdrop with the back-and-forth between the department of justice and apple. we will see more movement on this next week, or the day after this event in cupertino. how important is this event for apple to distract from that, or even be a platform to advance their case further on the opinion on their security of the phones? mr. del prete: look, apple has taken a strong position, and many technology companies have fallen in line behind them. do i believe this is a distraction -- i do not believe
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this is a distraction. when apple announces products, people go nuts. people will line up for the product. this is a product announcement we expected in this timeframe. i think it will turn attention, but i do not buy into any sinister plan that that was part of a grander plan. do i think apple will use this as a platform -- i doubt it, but i do think customers could come out in droves and get excited about supporting apple through, what is a seminal time, i think, when you think about security in the country. david: is apple talk about security during his announcements -- is it something they like to tout when unveiling new products? mr. del prete: apple likes to believe they are the most secure platform, and they absolutely top that. they take that down to their core. it is fundamental to leave they are, and it is absolutely a differentiator in their mind. david: crawford, thank you. mr. del prete: thank you. david: that is crawford del
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prete. for more apple coverage, tune in at 1:00 p.m. eastern time on monday for "apples wrote ahead -- road ahead." ramy inocencio has a check on some company movers. ramy: some food stocks -- burgers and burritos to be exact. let's look at mcdonald's and chipotle messick and grow. mcdonald's not moving too much, up higher by 25%. chipotle is down by about 2.5%. the reason i bring this up is i want to show you what is happening on my bloomberg. you are looking at the average analyst rating for mcdonald's, as well as chipotle. chipotle is here in white. donald's is here in blue. basically, mcdonald's average analyst rating stands at just under 3.8 -- 3.79. chipotle is now lower, 3.48. uy5 would be a unanimous b
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recommendation. the inflection point happened around the middle of december after the fallout happened with the chipotle food scandal. since then, the average rate has been rising. analysts are favoring the burger over the burrito right now. let's move to another sector -- the pharma sector. looking over at valeant pharmaceuticals, you can see that after his fall from earlier this week that we saw on the order of 50% after the earnings came out, today we are down a little more -- down by more than 8%. we are looking at the stock at its lowest since december, 2010. what is happening today is always weighing them down. valeant started talking to lenders asking them what they would want to give valeant in order for valeant to get for given on some of its debt, and that is because of the delayed earnings announced earlier this week. for the entire week, valeant is down on the order of 60%. speaking in health care -- let's look at what the health care sector is doing.
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generally, looking at tenant, community, and hca, on the order of 6.5%, and the sector is actually up by 1.3%. the biggest and best performer right now. this is off the back of what is happening in new jersey. new jersey governor chris christie came out to protect hospitals from losses, saying he on wants a two-year ban lawsuits from cities looking for more taxes from hospitals in order to pay city costs. you know, since the start of the year, david, the s&p health care sector had been down as much as 12%, so we see a rebound off of this. david: thank you. ramy inocencio. map, how to showtime plan to compete with the likes of netflix, hbo? we will hear from the new ceo coming up next. ♪
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to.": welcome back
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let's take a quick check of the major indexes. one-third0 up about of 1%, and the nasdaq also up about .33%. we have been focusing on all of these indexes, and if they made up the losses from the previous year. the dow and the s&p have, with the dow now up year to date by almost 1%, with the nasdaq still the laggard, down 4.3% year to date. at cbs's yesterday, ceo last month as said showtime is about to embark on the most expensive time in the channel's history. the man in charge of the expansion would be new ceo david nevins. he sat down with emily chang, who joins me now. of course, this china familiar with many of us who are devoted his of "homeland," maybe "billions."
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what did the network look like when david nevins got there? emily: some of my here it shows are on showtime. it is instant, david nevins had for matt blank. he is the longest running ceo in television. the transition, as far as we know, was very fluid. it is something they had been preparing for for a long time. what is interesting is david nevins is on the creative side. he is the guy behind "friday night lights, "parenthood," "arrested development," and at showtime he promoted hits like "homeland, "the affair," sex."ons," "masters of age, and moreen and more tv shows are getting made. definition forhe
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the best actors and there are fewer movies being made. i asked him, when you have netflix, hbo, amazon, what is showtime's biggest threat. take a listen to his answer. complicatedit is a 21st century media world. a lot of people are clamoring for attention, and we need the top of the list. when he to continue putting out shows that feel like they have risk to them, but make people pay attention. i think we're on the right path. emily: now, what is interesting, david, is that even though showtime has a lot of great shows, a lot of people point out they do not have their "game of thrones." they do not have a major, major hit, and i asked him if they are chasing that, and he said i am trying to make the shows we have 20 -- 10% better. he is also focusing on documentaries. we also spoke in more depth about "homeland," because a lot
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of people want to know how many more seasons they have. take a listen to what he had to say. mr. nevins: the great thing about "homeland," it reboots itself every year. it is a new story, new place. changeability works really well. i do not feel like we are -- i do not know exactly, but my guess is three. emily: three more seasons of "homeland?" mr. nevins: it is really the star and creator, and they will make a decision when claire danes is sick of doing the show, playing the character, when alex is sick of writing the show. you think the story of america's complicated place in the 21st century won't be relevant in 2015, 2019, and 2022? of course it will still be relevant. it is just a question of creativity how long we keep going. emily: three more seasons of
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"homeland," david. that makes me happy. david: i know netflix has been an vision about -- ambitious about international expansion. when you talk to david nevins about global ambitions, abc's that, how does he want to match that? emily: well, they released their over-the-top streaming service last summer. he says that is growing. they have deals with canada, sky, going into spain, on the verge of their first big deal with china. it is a huge priority for him. david: emily chang. thank you. for more on the interview, tune 1.0.""studio ♪
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>> welcome to bloomberg markets day -- bloomberg markets.
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betty: from bloomberg world" is here new york, good afternoon. i am betty liu. here is a we are watching -- stocks are rising with the markets closing out a fifth straight week of gains. health care and industrial leads the way as the s&p joins the dow, now in positive territory for the year. as apple fights the fbi over unlocking the iphone, the company is getting ready to showcase its newest product on monday. however, will a small-screen iphone be enough to boost revenue? the battle over starwood hotels $13.2 billion has been offered, putting pressure on marriott to increase its bid. how is this deal going to shape up? are we going to be in the middle of a bidding war? and we are about one hour away from the close of trade.


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