Dow and s p, but we are still close to those highs, at least the nasdaq down almost a quarter of a percent. The biggest loser in the nasdaq and its competitor was to be in talks with tesla to create a chip for autonomous driving. I want to turn to the base metals. We have stronger dollar than yesterday, weighing on the metals. That is continuing a little bit today. Some of these companies. This was the highest price since as Aluminum Prices were from bloomberg world surging. Nucor ceo discussing headquarters in midtown manhattan, this is bloomberg markets. Im scarlet fu. Taking action against unfair Commodity Markets closing in new york, select highlight some of imports. I wanted to touch on the dollar, because we heard from janet todays notable movers. Yellen yesterday and are holding gainsgames is gains gold falling back below 1300 1293 andw at for the stronger dollar, and really holding in there higher rates. Change. Continuing to see that. Moving on to gas, that gas it up withand wrap moving the most in two months, awful most by 5 . Inventories falling over the bitcoin, i will send it back to you. Julia lets get a check on the past week, expanding the supply got that is out there. First word news this on to oil, wti afternoon with mark crumpton. Mark President Trump has bouncing around today. It has been up, down, and is ordered new sanctions on individuals and companies doing down now by 2 10 of 1 as opec business with north korea. This increases pressure on wrong is monitoring a technical yang to discontinue weapons programs. Committee meeting in vienna. At aresident was speaking the climaxes tomorrow, and so far attendees have sent mixed signals about whether production cuts will be extended. Luncheon with the leaders of japan and south korea. When it comes to open its theseesident said response, this chart illustrates measures are intended to disrupt the north korea and shipping and straight networks by targeting a key dynamic at work here. Entities that do business with opecs response, this chart pyongyang. In mexico city, they are racing against time to wrestle you illustrates a key dynamic here. Rescue a 12yearold girl you can see the steep drop off at the end of 2016, when opec agreed to reduce production. Trapped in the rubble. She says that fiveyearold the blue line represents u. S. Five more students could be trapped with her, but it is production. You can see the drop off there, unclear if they are still alive. That girl has been there for more than one day since the and that dynamic continues to keep a lid on oil prices. Julia . Earthquake. Shale, opecing of the death toll is now 245. Dynamic continental resorts ceo is warning the United Resorts ceo harold hamm states and will retaliate spoke to alix steel in an against american backed fighters exclusive interview. In syria. Russia has accused the fighters she asked about the eia of firing on Government Troops prediction that shale production battling for territory. Will reach a record high Russian Special forces are. Fighting alongside syrian soldiers. The defense minister said any they came in and were talking to all the producers across the further attacks will immediately meet with retaliation. U. S. , but they were flat wrong. Eia was flat wrong. People were very disciplined across america, the producers a formal warning has been were. Delivered to the u. S. Regional they had cut back. Headquarters in qatar. Obviously, the price fell when been declared a nigeria and libya came along disaster area after hurricane with about 400,000 barrels the island. Ed unexpectedly in april through june. Hundreds of homes have been destroyed, and Officials Say it the price fell a good 20 might be months before people through that amount of time. Get their lights turned on. President trump plans to visit so operators cut back and eia puerto rico to assess the damage. He spoke about the devastation did not recognize that, and kept while meeting in new york with predicting that we would be close to 10 Million Barrels by irans president. The end of the year. An very, very,is very tough shape. Their electrical grid is destroyed. It was not in good shape to so a lot of people went to work start off with, but their and came up with calculations electrical grid is totally that showed they were about 100 destroyed. Off. So some 500,000 barrels. So many other things. We are starting the process now, so really, we look to the and we will work with the governor and the people of numbers by the end of the year and it would be a rush to get , there. That was about 9. 35 million puerto rico. Barrels by year end. Mark global news, 24 hours a day, powered by more than 2700 journalists and analysts in more so that is a big miss. Than 120 countries. So we met with them, showed them i am mark crumpton, this is the data that we had, and they bloomberg. Scarlet . Have corrected some of it. Ofrlet obviously, a lot we have had an increase in price work still needing to be done on as a result of that. The ground in puerto rico. Later we will look into the but still, they are way off, thencial angle of some 360,000 barrels high for this year. Disaster. As mark mentioned, donald trump announcings executive action alex they are significant when that expands u. S. Authority to we are in and oversupplied target individual companies and market. When you talk to most ceos they banks that finance or facilitate , say everything is fine, i am trade with north korea. Drilling as we have always drilled, we may have had some pres. Trump our new executive stumbles but 2018 will be order will cut off sources of awesome. Revenue that funds north koreas you do not see it that way. You see drillers doing something efforts to develop the deadliest weapons known to humankind. Different . Mr. Hamm the new normal is that we have capability of producing a whole lot. The order enhances the treasury but we have to get return on departments authorities to investment, and operators like target any individual or entity myself and others realized that they have to have returned that conducts significant trade through shareholders. In goods, services, or technology with north korea. So you are not just going to go more, lets go to out there and drill in an environment that you cannot make kevin cirilli, our chief washington correspondent in our a decent rate of return. D. C. Bureau. Lets give us a sense of what so that is where people have expand u. S. Eans by been this past quarter, and this year. We noticed that in the Second Authority . Quarter, basically took a reading of all the Public Companies and found out that kevin first off, the president saying that they are going to use sanctions to discourage numberd cut capex and foreign businesses from doing business directly with north production was down for the korea, but he thanked chinas two, second quarter. All the Public Companies have president xi jinping for saying reported. Alix i want to pick up on what that china has also taken you said about returns, because we were talking about a buyback after the bell yesterday. The idea that there is growth at any cost is no longer the story. Action as well. There is some discrepancy about it will be about returns, what exactly the chinese have getting balance free cash flow. Done in order to supplement what the United States has done, but meeting, chinaal is continental doing the same kind of thing . Mr. Hamm certainly we are was essentially the elephant in interested in rate of return and the room that was not there, it as well but a making money for the shareholders, and we are doing everything to position our company to do that. Fourpart meeting because of the we have done that over the past influence china has exerted. Three years. But the larger takeaway we heard this from japanese prime but you know i said that prices minister shinzo abe , under 50 were unsustainable thinking trump as well as the and building new supply in a world. That is basically what we are seeing today. United nations Ambassador Nikki Haley directly for their efforts so yeah, we are looking at every on this. Angle to make sure that we have the United States is very much still leading the effort on a rate of return through the to the shareholders that this, more so than any other countries. Julia we will hear from nikki makes sense here at continental. Haley later on, but you pointed alix so at 50, would you see a out that the critical point is dividend or buy back before you put more money into capex . At the moment, we are not quite we have some great sure what chinas involvement is here. Be a huge step forward rate of return projects, and i believe that this price below between the United States, china, and their coordination to 50 is very shortlived. We are seeing it about 50, and i think it is sustainable. Take on north korea. But we are seeing inventories kevin lets be blunt. Come crashing down, coming down faster than they have over the treasury secretary Steven Mnuchin has taken on chinese Financial Institutions head on, last two years. Saying if you are going to do it is correcting, as we see it today. Business with north korea, you have a problem with the united aids. But you know, this oversupply case in point, the bank in date on United States. That eia is talking about isnt case in point, the bank happening. The market has to realize that there. Well is talk about north koreas top trading partner and it is distorting, it is making it tough. But also between you talk about putting america first. Lacking world prices the u. S. Agreements with not only china, but south korea. By six dollars a barrel that is the United States is very rounds of the latest , not putting america first, that is putting america last. That is the result of this exaggerated amount that eia has out there. The United Nations meetings pressuring the South Koreans as well, saying look, we will have and everybody pays attention to them. Your back on north korea, but we they are supposed to be the need you to step up to the plate as well. Ultimate authority, if you will. We willreat point, and hear from Steven Mnuchin and donald trump later on in two nikki haley. Let you gonot without asking you about politics. Do you feel like the Trump Administration is the filling is promised supportive of the oil industry, and if so, what specific things has he been able to do that have helped you . Harold first of all, cutting lets bring in bill cohen, who all of the ridiculous regulations on our industry. Is following the impact of maria when you look back and tally and irma, which ravaged puerto i meanwhen you look back and tally, them up, there were some rico just two weeks ago. Ray to have you on the show, bill. I have seen some estimates trillion dollars of bad adjusting the caught that cost regulations on this industry. And theres a lot of them still will be 10 percent of gdp. In place. So removing those, correcting the Prior Administration this is, in any amount, something the country cannot afford. Puerto rico obviously was basically wanted to put us out of business. This administration saw it as a driver for this economy, putting already in very tough financial, economic conditions. Some 80 billion of debt it was trying to restructure, trying to get out from under. People back to work, and jobs, this is not going to help in any putting americans first. Way, shape, or form. Julia we are talking to the we are seeing that happen. In the electricity this is the 43rd day that we have had record highs with the grid as well. Dow, the market. They are also operating on the so trumponomics works. Fact that conditions as it is working. Well. So trump rally that we talked bill this is been a long, long about, it has become much, much more than that. Saga with the puerto rican was continental electric power company. There was a Restructuring Plan been fullyut had not resources chairman and ceo harold hamm,s geeking with alix speaking with alix agreed to that would have given creditors Something Like . 75 in present value. Now those bonds are trading at . 55, that deal is off the table. Steel. Lets get you a check on the first word news with mark company is, the crumpton. The Trump Administration has announced new sanctions against north korea. Speaking ahead of a working lunch with the Prime Minister of basically operating in an equivalency of bankruptcy now. Japan and the president of south korea, President Trump said he is using his authority to go a new Restructuring Plan has not yet been proposed. After banks that do business with the north. Is all butcal grid pres. Trump our new executive order will cut off sources of destroyed, as President Trump revenue that funds north koreas efforts to develop the deadliest said. People do not have electrical weapons known to humankind. Power, therefore is probably no revenue. People do not have any power. Ood time to be a the order enhances the treasury bondholder. Timing is an departments authorities to target any individual or entity that conducts significant trade services, or opportunity matter how you look at it. My question is does the strategy tragedy prompted a greater effort restructuring . Technology with north korea. It has always had the president said that operational difficulties. Chinas bank is also ordering its plant is somewhat Financial Institutions to stop dealing with kim jonguns. Ntiquated, it needs an upgrade regime. Reinforcements are searching the one of the things on the table collapse wreckage of a school in mexico city, where they are was to improve the plants, to trying to free a trapped girl that usesto a company and other survivors. The remains of the building had dangerously earlier natural gas as opposed to gasoline as a source of power, and improve the grade. Today, prompting some rescuers scarlet but that did not happen . To evacuate the top of the pile. Bill no, because the the death toll is now at 245. Restructuring plan was drawn and Officials Say that a case from did not happen. The group was severely damaged as a result of this disaster, nursing homeom a which could not have been foreseen. It could not have come at a worse time. If everybody just stepped back that lost its conditioning in florida related to Hurricane Irma is dead. And realized that now this is an this state of florida has opportunity to repair the whole suspended the facilitys license thing and do with the right way, i think this would be an while the owners have stewed the opportunity for some investors state sued the state for the with some guts to go in there and buy the bonds at prices the actions. Slow or lower, and participate the attorneys are conducting a criminal investigation. In restructuring. Julia but it is also about the and the heiress to the law real cosmetics empire has died. Federal oversight board, who eal cosmetics empire has rejected a 9 billion dollar Restructuring Plan, well look at this as a blower opportunity . Bill there is no denying how died. Is inating the situation Lillian Bettencourt owned about one third of the companys shares. Regard to this company and the power situation. Sometimes it has to get really global news, 24 hours a day, bad before creditors see what powered by more than 2700 journalists and analysts in more than 120 countries. They need to do to make it better. I am mark crumpton, this is bloomberg. Scarlet at some point everyone will Work Together. N, bloomberg tv julia . Facebook ceo up, contributor. Coming up, we will speak with Mark Zuckerberg is not just a Business Leader and a dad, he one of the governors who also has had a political opposes the new effort to repeal awakening of sorts. The question is, will it leads to the white house . We will discuss from new york. This is bloomber . Obamacare. Governor John Hickenlooper from new york. This is bloomberg. Time now for our sector julia this is bloomberg markets. Im julia chatterley. Scarlet and im scarlet fu. Julia the latest republican report as well as the stock of the hour. Joining me now to talk about how attempts to repeal and replace obamacare faces a crucial the tech sector is faring today deadline looming next week. Is abigail doolittle. Legislation by senators all caps abigail we are taking a look at city of louisiana and the technology etf, because it is down for the second day in a Lindsey Graham of South Carolina row. This is the today chart on where would repeal parts of obamas we see the decline, and this health law, giving blog rates to stands out because tech is the states block grants to best sector on the year, up more than 20 . It is the sector that investors to design their own programs. Have been looking to this year, so a lot of leadership there. Joining us now is governor john it now, after the fed and the tone,ng to a more hawkish hickenlooper of colorado from denver. They are being a bit cautious thank you for joining us. Here. I know that you will be firmly that is interesting to note, against this plan, and i know you think a bipartisan way especially because some of the clients are coming from chips, amd. Nvidia and forward is the best way to tackle this. But first, i want to ask you bitcoin is also down by more whether you believe the senators that right now are willing to vote yes to this can accurately than 6 . So the fact that the fed is quantify the impact on their individual states enough to pulling back is causing bitcoin to a