Auto maker by globalizing models, cutting costs, boosting technology. It is unclear if he will play some role in the self driving car program. Yahoo will return cash to shareholders when it sells stake in alibaba. They will use at least half of any proceeds from the sale to fund the project. Yahoo reported Quarterly Earnings showing the Company Still struggling to deliver growth while contending with popular rivals. They will sell 148 million shares down from the originally planned 208 million. Now to the lead story of the day, apple and ibm burying their past rivalry. They will develop apps for the apple iphone and ipad tailored to work with ibm Data Analytics and cloud services. Ibm will sell apple products directly to business clients and apple in turn offers apps support. This will help them expand into the enterprise market. Helping them stay relevant in an increasingly mobile environment. Im a to bring in bloomberg west editoratlarge cory johnson and Senior Analyst from jmp secur
100,000 dollars safe that can protect your homes most valuable possessions. First, headlines with carol massar. Puerto ricos Credit Ratings was cut three levels into junk status by moodys. The potential for further cuts to come. The change could affect more than 14 billion in general obligation debt. Gms surprising investors with a u. S. Sales gain at the analysts projected a declined. These numbers come as the automaker continues its recall. The total reaching almost 29 million vehicles. Ford, chrysler, nissan all beat estimates. U. S. Auto sales helping out u. S. Stocks in a nice rally. Sending the dow into triple digits. The index coming within two points of 17,004 the first time. That is a look at your top headlines. Thanks. Lets discuss this rally. We have the director of Investment Strategy at also, we have bloombergs keith naughton. Chase, i want you to tell us what you think that the market is rallying. The economic circumstances are decent. We are seeing modest growth, a 2. 9
From our studios in new york city, this is charlie rose. We begin with the negotiations in vienna about Irans Nuclear program. The deadline is sunday, july 20. Minister spoke earlier today. He said there has been enough progress to justify an extension. John kerry spoke earlier today. To washingtoning today to consult with president obama and leaders in congress over the coming days about the prospects for a confines of agreement for a comprehensive agreement as well as well is a path forward if we do not achieve one by july 20. Including the question of whether more time is warranted based on the progress we have made. As i have said, there has been tangible progress on key issues. We had extensive conversations in which we moved on certain things. Gaps one also very real other key issues. What we are trying to do is find away for iran to have Peaceful Nuclear program while giving the world all the assurances required to know they are not seeking a nuclear weapon. I want to underscore
Times forward earnings. It is in that range. I went to the Oxford English dictionary on my bloomberg terminal. Frothy. 1533 is the first definition. It says, frothy, their frothy waves. It is a frothy surveillance this morning. A frothy brees. Breeze. Economic data here in the u. S. We get producer pricing index. Janet yellen will be watching that. 9 15 Industrial Production. How much are Companies Operating . The beige book at 2 00 p. M. Earnings before the bell. Blackrock in bank of america. Scarlet, you will be breaking bank of america. Can we have a moment of silence for scarlet fu . She rocked it yesterday. Jpmorgan, goldman sachs, it was awesome. It was a pretty busy day. I like that. False, brands get two thirds of their business outside of the u. S. Tubing items of note. Two items of note. Janet yellen testifying before congress for the second day in a row. 15 years ago today, jfk juniors plane crashed off marthas vineyard. That was terrible. No other way to put it. That is the
Announcement. Oil bidding analyst estimates. Feeding off it until we got last night, beating saying a bit of a troughing. Asml equipment which makes the chips for intel. Alibaba. Lory from up managing to wrap advertising. Working and ibm together to create apps. These are companies that have been feuding for a good three decades. Bowl adveas the super rt. Liked it. Rs byebye library. All that and more. We are talking about china. They have released the latest check on the economy with Economic Growth accelerating. Better than estimates. Is this an economy that is restructuring to you . I think we have to dig deeper. The headlines figure 7. 5 . How they got there is another matter. You look at the dear the year to date. Pricing that the country would be expanding. The median estimate was 7. 4 . The expansion quickened the first time in three quarters. Two opposingg at forces. We have this pulled down by this big and sharp drop. On the other hand you have what economists have targeted ca