Shares of the morning times up. As the president would say bigley on the back of its strong earnings. The ceo of the nyt joins us live. Power lunch starts right now. Welcome to power lunch. Im michelle carusocabrera. Major averages are lower but Holding Steady ahead of the fed decision. This move in the nasdaq down 29 points. Right now thats the biggest drop in more than a month. The nasdaq still off lows of the day. Check out whats moving, a retail wreck this hour. Groupon and etsy leading declines on the back of their weak earnings. Groupon down 15 and etsy is down almost 10 . Melissa . Im melissa lee. Puerto rico announcing a historic debt restructuring on a portion of its 70 billion of debt. The move comes after talks with bondholders failed fbi director james comey grilled defending his decision last year, just days before the president ial election to reopen an investigation into Hillary Clintons email. And facebook making a major move to crack down inappropriate material. The so
Now the lowest since november. Our road map begins with the atand the gop on the verge the president and the gop on the verge of a much needed win. Plus apple making the 1 billion bet on manufacturing, launching a new fund to invest in u. S. Jobs. We elle a well tell you what tim cook told jim. Its a big morning on the hill as the house is slated to vote on the Health Reform bill. It would give the president the biggest legislative victory to date. Some gop congressmen have shifted from no to yes after an amendment was added to help cover preexisting conditions. Theyre calling it the upton amendment, jim. The question is, whats the future for the bill, if it does pass the house and the senate and if that happens, does the reflation trade is the path cleared once again . I think it is. I think this would be rather remarkable if they get it through. Just to get it to the senate so they can Start Talking about economics. Because yesterday, the fed issued a statement that was incredibly ha
Carl quintinilla with sara eisen, john fon fortt joins us crude inventories, lets send it back to jackie. Carl, you can see prices are spiking on this report it definitely was bullish, what i have is a crude drawdown of 6. 3 million barrels, a gasoline drawdown of 3. 7 million. These are more in line with the seasonal trends, more in line with what we heard from the api last night that makes sense, you have demand coming from summer driving, fourth of july, Holiday Weekend as well. I dug into that report, production did go up that 100,000 barrels we lost last week, we gained it back this week. Im not sure how people are going to interpret that. Im assuming its probably going to be a bearish sign mixed in here we were trading 4575 before the report came out, 4624 now. Back over to you. All right, were watching crude along with that, jackie, thank you very much. Meanwhile, the president arriving in germany earlier this morning ahead of the bilateral talks with chancellor angela merkel, c
Americans that someone has your back. Democrats also unveiled a new slogan, a better deal. Global news 24 hours a day. I am Alisa Parenti. This is bloomberg. Bloomberg technology is next. Emily i am emily chang and this is Bloomberg Technology. Coming up, hip hop looks seems to have blown the apocalypse seems to have blown over at google. Masayoshi sons multibilliondollar spending spree could affect another major market. We will discuss the softbank threat to google as rivals look to capitalize on the companys crises. Open talks with executives from time warner and at t as the 85 billion dollars deal continues to take shape. First to our lead, off shares dipping in afterhours trading. The Parent Company releasing secondquarter earnings which sent shares soaring but then turned south. Revenue came in at 26 billion, up 21 year over year. But aggregate costs per click dropped. These numbers include the effect of the 2. 7 billion fine from the European Competition commission. She told me i
Bet on a blowout Earnings Report tonight. We will dig into those numberes. And facebook isnt the only set to announce numbers. We have a bunch. Weve got full Team Coverage of all the results coming your way. Love this time of the year, when the numbers are all coming out. Meanwhile, the Justice Department recently moved to block two huge health care deals and coming up, ralph will tell us what thats doing to the dealmaking climate and whether that is creating any tension between wall street and washington at a critical time of the campaign. And later we will hear from the top ranking executive at airbnb on his plan it win over the democratic party. Shouldnt be too hard given where he worked. But days after senator Elizabeth Warren called into a probe into whether sites like his are pushing up rental prices. Uber and airbnb, very big presence lobby wise at the Democratic Convention this week there in philadelphia. Lets start with the low earnings and low expectations and a pop for apple