Deadline of missed another deadline. Its too late to conclude. Thats the last opportunity to qualify for a 30 day review in congress. An agreement after today would be subject to two months of scrutiny. The talks cant be openended. We are here because we believe we are making Real Progress toward a comprehensive deal. As i have said many times, as i have discussed the president last night we are not going to sit at the negotiating table forever. Stephanie the latest disagreement is on the arms embargo. The u. S. As opposed to a wholesale of things. Stephanie negotiations cant be that bad. They are in a luxury hotel. Erik stocks have bounce back from that selloff. They saved the biggest rally since 2008. The composite rose 4 . It was up almost 6 yesterday. The Chinese Government has intervened with a series of unprecedented measures. Staterun companies were ordered to ride stocks. It is hard to reach the heights of minions which opens today. This is one of the biggest Marketing Campaigns ever. They are partnering with me else and General Mills. They have delivered 600 million in ads and promotions. Kids watch tv. Those are your headlines. Erik these are the five things you to know this morning. The first thing is greece. Creditors, they are making their first assessment of that proposal. Hans nichols is following all of the details. This was characterized as credible. What are you hearing from germany . Hans we havent heard anything from germany it. We have heard from slovakia. They are a harder sell than germany or austria. He remained skeptical. He says there may be an opportunity for progress. He had a nice quote on twitter. He is unconvinced how a caterpillar can turn into a butterfly so quickly. There may be problems in latvia as well. There does need to be some affirmative sign from these outlier countries, let alone germany that they believe he means what he says. He just urges voters and his populist to reject this same proposal. Now he has embraced it. People are trying to figure out that you turn. They are confused. The french of been habitually optimistic on this. I would take the optimism and discounted a little bit. They have always been the most optimistic people in the room. Erik we understand the proposals are essentially the same to what the europeans offered greece a couple of weeks ago. If greece is willing to go that far and if the ecb and imf give a nod of approval hans one of my colleagues spoke to one person familiar with the matter in the person says the German Government is going to demand further concessions beyond that june 26 offer. The germans want more. They want more concessions. They need to have more revenues to make up for the fact that youve got an economy in free fall. The germans are going to continue to drive a hard bargain. Merkel still has to take this. Erik weve got much more coming up on greece this morning. The parliament is considering the offer. That is hans nichols in berlin. Stephanie i would have chosen slightly goofy hair. I am going to go with number two. Oil prices may fall further before the market tightens next year. The International Energy agency says the world is massively oversupplied. Next year, it will grind to a halt. We were just talking. He thinks prices are going to 45 a barrel. We would argue selling oil right now. It still elevated above 60 a barrel. We have these higher prices these markets have too much cash flow. Stephanie there you go. That is a bold call. Erik i admire his consistency. Oil rallied in may and he stuck to his guns. He is proving to be right for the time being. Julie hyman has number three. Is my hair poof he today . Julie slightly. I dont have my glasses on today. As i saw you early this morning i couldnt see. Its higher. Stephanie we can all agree on higher. Julie equities in china rallied again today. They rallied 4. 5 adding to yesterdays surge of 6 . Trading is limited to 53 of the market. Investments oversee the largest china funds is joining goldman sachs. We talked yesterday saying that chinese stocks they are trading. What are you going to buy is the question . Stephanie what you going to buy . Its north of 50. It was interesting. Those other days we talked about stocks being limited. There was suspension in trading. Erik its not really a free market. Stephanie even if you are a would be participant, when you see this act giving an intervention, you dont want to play. I have to give you number four. China again. They are having an impact on apple. Shares of apple been falling for five straight days. They wiped out 38 billion in market value. Senate is pointing to those losses in chinese equity that good leave consumers with less money to buy gadgets. This puts his shares to the brink of a 10 correction. Im not that worried about apple. If nothing else, carl icahn credit pick up that slack. Erik its friday. For number five on a friday, how about some sports. Matches at wimbledon are underway for the legendary tennis tournament. Mark barton is outside. Remind us who is in the tournament. Mark its mens semifinals day. My lips are salivating. Roger federer the 17 time grand slam champion. He has won wimbledon seven times. Andy murray won wimbledon in 2013. He ended 77 years of hurt. It has taken that long for a brent to win the title. The last time they played was 2012 when federer beat him. Murray cried afterwards. The other semi final, Novak Djokovic one wimbledon last year. He takes on the frenchman. He is seated 21 of the world. He got to the semis in 2007. You would expect Novak Djokovic to win that. There is an american to cheer for. Serena williams, the 20 time grand slam champion has one wimbledon five times. She takes on the woman from spain. If she wins tomorrow, she will win the serena slam winning all four tournaments at once. This is 24 hours of perfect tennis. Stephanie i dont know who is more excited, you or these tennis champions. Talk to us reflate. We know who is playing. Who makes the most dough . Who is the big dog out there . Roger federer according to forbes made 56 million. Where is andy murray . Hes languishing at number seven. He only goes for endorsements if he believes in it. What is interesting is he likes to invest in u. S. Property. He bought a hotel. That is a luxury venue. He invests in crowdfunding. He has put money into startups. He has invested in 40 startups. He does the dude chill gents. He loves tech. He is a sports investor. He likes to do it himself. He is on court today against fedor. You will never shut me up. Stephanie are there brands out there that want to work with andy murray . Roger federer has been on Credit Suisse billboards for years. Hes got rolex. I spoke with a branding expert earlier. Roger is the king. He hasnt won a grand slam in three years. He still top of the earnings. Guess who is third . Maria sharapova is endorsed more than andy murray. She is endorsed more than serena williams. Stephanie were going to move on. We are going to get back inside. Erik we will be coming back after a short break talking about the greek Prime Minister. Has he blinked . We will try to get you a perspective. Stephanie it is friday. The Boston Federal Reserve Bank president will join market day at 2 30 p. M. Eastern. They are reacting positively after the greek Prime Minister agreed to most of the demands made by creditors and exchange for bailout funds. European stocks are up 2 . Equity 500 is up 1 . For more on the greek proposal we have a fellow with the brookings institute. Thomas what you make of the latest . Thomas its a positive development. He blinked. He hoped he would be in a stronger position to be able to negotiate and get some additional concessions. It became clear to him that not only would he not get additional concessions, he would get a tougher deal then was offered before because the grexit was really on the table. There was no more time for brinkmanship or games plane. There was a poll that showed 85 of those who voted no last weekend did so to get a stronger negotiating position. They did not want to go back to drachma. There was the proposal yesterday that accepted many from last week. Erik our International Correspondent hans nichols raised this possibility given the erosion of trust between the greeks and the europeans, in particular the germans. The pressure the Greek Economy has been under for the past couple of weeks with capital controls in place, the germans might want more than what was put on the table previously. Michael i think thats right. The situation has deteriorated. The bill they photos on last week is no longer an offer. So many germans, that is no longer sufficient. They simply dont trust them to deliver on what they are saying. The third thing is it has to be on the table that the economy is going to go into total collapse over the next couple of years. I would say that there is one force on germany. For the first time, greece is not isolated. Greece has friends who want to see the deal go through, france in particular. Germany for the first time in this feels on the receiving and of some external. Erik debt relief is a potentially confusing term. Under what circumstances might they extend debt relief to greece . Is that possible . It seems like Angela Merkel ruled out haircut altogether. Michael she left open the other possibility of extensions and other ways to ease the burden on greece. I think most observers believed that the Greek Economy cannot recover without some easing of the debt burden. Other countries in europe have said that. The real issue is germany they have had a theological resistance to that. The dynamic inside the German Government between merkel, those are things to watch over the weekend that will this could fall apart. This does not mean we wont get an accident going into the weekend. I think chances of a deal are 65 . If you are asking over a two or three day time, the fact that greece has linked and put this on the table is a positive. It has to be better than 5050. Stephanie weve got to leave it there. Thank you for joining us. We will be back with more Market Makers. Stick with us. This is a great place to work. Not because they have yoga meetings and a juice bar. Because theyre getting comcast business internet. Comcast business offers convenient installation appointments that work around your schedule. And it takes done. About an hour. Get reliable internet thats up to five times faster than dsl from the phone company. Call 8005016000 to switch today. Perks are nice. But the best thing you can give your business is comcast business. Comcast business. Built for business. Erik janet yellen will be speaking in cleveland. You can watch her remarks on bloomberg television. Also happening, the Rocky Mountains summit in idaho. That continues. Michael mckee is there. Youve been talking with central bankers. Talk to us about what youve heard. Michael of course, greece is a big topic. Everybody wants to know what happens next. To the Business Leaders here the busiest biggest topic is what is the fed going to do. Thats going to affect their business more than anything else. He thinks they are going to raise Interest Rates this year. The fundamentals are good. The labor markets are strong. The Balance Sheets are much better than they were. I think there are a lot of fundamentals that are good for the economy. Things will happen and things wont be smooth every month or quarter. I think there is a lot of reason to be positive about steady growth in the u. S. Economy. Michael its certainly possible the fed will move in september. He is not making a prediction. He is the former head of the he is her bit surveying what is going on in the rest of the world. A weakness in europe could be for the u. S. Economy. Given the weakness in the rest of the economy its harder for the u. S. To move. We had to rate hikes. This is like being stat. The market is pushed out. We continue to see news in the market. That is less likely to be happening soon. Michael that is what you get when you get a couple of central bankers together. You get some different opinions. Well be talking with the boston fed president at 2 45 p. M. Eastern. Erik do any of those central bankers have views on greece or china . Michael on greece, both of them think things are going to work out in the end. Greece was going to blink. Theyd wont leave the eurozone. The consequences would be bad. They do a lot of business in china. He is optimistic in the long run. A lot of this comes about because the chinese are trying to move through a more consumer ended oriented market. That is something they need to do. Erik it looks like youre having a good time and some fine weather in idaho. He is at the Rocky Mountain economic summit be sure to stay with numbered television and radio. Stephanie france is praising the new greek puzzle. Germany says it will wait until after the creditors make their judgments. The great Prime Minister has given into most of the creditors demands. He has offered a plan of spending cuts and tax acts. He has asked for 59 billion in a lot. The Greek Parliament is taking up the plan. Voters rejected a similar proposal. The fbi says it disrupted a number of terrorist lots tied to the fourth of july holiday. In the past four weeks, agents arrested at least 10 people suspected of having ties to isis. He warned that terrorists are communicating over encrypted applications that cannot be deciphered. Erik the Confederate Flag will longer fly in South Carolina. It has been there for more than a halfcentury. Legislature voted to take it down in the wake of the church shooting. The governor signed the bill yesterday afternoon. I saw passions get high. I sought commitment never ending. What we saw was another action. That action is the Confederate Flag is coming off the grounds of the South Carolina statehouse. Erik erik the flag will be taken down at 10 00 eastern time and will eventually be housed in a shrine. The Hollywood Chamber of commerce says it has never remove the star from the walk of fame and is not starting with bill cosby. Black civil rights leaders have called for it to be removed. Court documents show cosby admitted he obtained quaaludes so he could give them to a woman he wanted to have sex with. Those are your top headlines for the moment. I know we are not supposed to, on this, but you are bill cosby in the heyday of your career and the quaaludes . I dont get it. When we return, dumping the donald. That is something we are allowed to talk about. The list of businesses distancing themselves from donald trump is getting longer. We will see what is left of the trunk brand trump brand. It is friday. The sweetest haircut. Lets walk you through this. Here he is, and on jupiter who graduated from Lowell High School in massachusetts he he graduated from Lowell High School in massachusetts. Erik is that a scarf or short . Stephanie the whole thing is amazing. I see your weekend gear. Dont say you dont have Something Like that. You can tweet us your guesses. That guy is so amazing. Not only do i need you to tell us who it is, we need a story about him. Somebody who went to Lowell High School, please call and tell me was he a singer . Clearly, this dude was in a band. You are watching bloomberg. Stephanie when when you are talking about politics, you are going to have conversations about race and things like abortion and Sexual Orientation and immigration and the huge topics. Forget what you were saying about them. Brands dont like to be associate with the opinions of other people with polarizing topics. Its no surprise that this has happened. He has said some pretty combative things. Stephanie what about the brand of the Republican Party . They are struggling to connect with a younger generation, a more central voter when you have someone like donald trump making these kinds of statements . If you are the gop strategy team, what do you do . Phil you wish that he would stop. They are working behind the scenes. Stephanie you wish that he would stop. Phil this is the problem they are facing. They worked to try to get him to tone it down. They had of rival phone call with him. He ended up talking about the phone call publicly and turn it into another pr push for himself. The problem they face is twofold. What he is saying taps into a real vein in the publican party. It 63 of republicans said that immigrants are a burden based on the country. Stephanie there is a vein within the Republican Party that says yes, is it big enough to win him and election . Phil no. Thats where the republicans have the biggest problem. They recognize that they had a major problem when it came to hispanic voters. Everything donald trump is saying right now is setting them back. The bigger issue is everything he says is immediately taken to the other 15 candidates and they are asked to comment. Everybody is dealing with his comments on a daily basis. That is driving the news coverage. That is driving the polling. That is making democrats sit back and smiled. Erik if you were building a campaign, wouldnt you be doubling down on everything that trump is and even exaggerated . Hes been remarkably consistent. As a candidate and as a brand, i dont see much separation of. To be a successful candidate he has to find middle ground. It that is a huge question. It like a fireball, he has a lot of things to do. Erik he may not be president , but he may exit the nomination race more famous and popular than he has ever been before. Stephanie he represents a luxury highend brand. He is on some of the corniest tv in the last 15 years. This is one of his ties. He has a big licensing business. None of it its not associated with the best b