Julie hyman has the latest. Fairly positive. Julie the trajectory has declined throughout the day the nasdaq is the big winner today. Now that the ecb and opec are behind us come investors are looking ahead to tomorrow mornings jobs report. Adps jobsimmer from report. Fallingobless claims for the fourth straight week. Volume is relatively light. Overall for the s p, 10 below the 20 day average as investors wait for that data tomorrow. A drop in volume in consumer staples. An increase in tech share volume as well as health care, one of the big winning sectors in todays session. Peeking above the zero line we are seeing at this point lingering earnings and still a part of the story here as we have some winners dimensions they. With sales on service contracts. Also cost cuts. Mcdonalds also with a positive earnings report. Mixedike we are seeing a trade in stocks come if you look at the socalled safety trade, it is not really unanimous. We are seeing some buying of the japanese yen today versus the u. S. Dollar. If you look at whats going on in the bond market today, you see some buying. Vix. A look at the you would think we would be seeing a big drop. We are seeing a drop, but a very recent drop. For a lot of the day, we were. 7,ing it rise above 14 even near 15. David lets check in on the first word news this afternoon. Mark president obama today delivered the final commencement speech of his presidency to u. S. Military members. Cadets ino graduating colorado springs, the president said there were limits to toresisting the temptation intervene militarily every time there is a problem or crisis in the world. History is littered with the ruins of empires and nations that overextended themselves. We have to chart a smarter path. Mark the president considers increasing the number of troops he will even afghanistan. New problems for the Affordable Care law. The Largest Health insurer in texas wants to raise rates by nearly 60 . A new sign the Health Care Overhaul has not solved the problem of rice spikes price spikes. Many insurers are requesting bigger premium increases for 2017. Yearshitect of last attack on the Kenyon College may have been killed in a raid by the some ali army that somali army. When hundred 48 people died in that attack 148 people died in that attack. Prince died of an opioid overdose. He was found dead in his estate in the minneapolis area on april 21. Investigators have been reviewing whether he died of an overdose and whether a doctor was prescribing him drugs in the weeks before his death. Global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. Back to you. Shery tomorrow, may jobs numbers come out. Payrolls for the month are expected to match aprils 160,000 increase. We could see the Unemployment Rate fall to 4. 9 from a level not seen since 2008. For more, we are joined by Matthew Mcaleer in sarasota, florida. Great to see you. ,e saw these jobless claims falling to an impressive low this morning. How will tomorrows payroll data affect the thought process at the fed . Matthew under five is a great number to look at. It gives the fed a bit of room if they would like to move in the near future. That is one input into a global market. Look overseas, you have brexit to talk about coming ecb to talk about, here, we have fomc, unemployment, wage. We try to work that into our allocation account. Shery how do you capture this fomc premium in this tightening cycle . Matthew one thing weve been looking to do is stay with the consumer, even though we had some pullback three weeks ago. The consumer areas rebounded nicely. Theres been more money in the pocket of the consumer the last 12 months. With energy and employment and wage growth. Some of the areas we are looking , continuedally health care moves in medical devices specifically. We are close to fully invested. We had the pedal on the gas recently. We think about our cash level percent from to a 1 8 from 1 last week. Timing going to affect return potential . Matthew the timing really doesnt. We try to look at this in a longerterm scope. From a 25 basis points this month or a couple months down the road is not going to change our major allocation. Beginning of the year, we are looking for two prompts from the fed. That will not dictate a lot of capital movement. We are comfortable where we are. Selling,e a bit of putting some outcome of cutting back on strength, trying to get money back into the market on weakness. Weve been looking at this range for 1820 months. It pays not to be greedy on the upside. It has paid to have some cash for pullbacks, being able to put it to work. Shery we had the ecb as well talking to us this morning. It failed to significantly raise Inflation Forecasts even as they carry out this extensive stimulus. How worrisome is that to you . Of itto the concerns possible brexit. Matthew from a treating and portfolio standpoint that trading and portfolio standpoint, the wording and information out of the ecb will not have a large change or us. Weve been trying to take advantage of what we saw four and five years ago here domestically. We are trying to take advantage of that same kind of move internationally. Where we are positioned in europe and asia is trying to be on the mid to dollar capsize. Thats mid to smaller capsize. We will try to make some money with the consumer, both on the stable side and discretionary side. Some of those numbers have picked up nicely in japan. Were you expecting the decision out of the opec meeting today . Where do you see oil going from here . Matthew great question. When weot so oversold were down in that 28 a barrel weve takend that trade off, took it off in the equity. We are still long some commodity on the gas side, not on the street oil. Thats straight oil. Personally, did not expect much to come out of this. You have some real political headaches in opec. I would think the saudis feel what they are doing is working. We will see if that is a longrange successful decision. Weve had to take our foot off the gas on some of our production. Hereechnical improvements may let us get right back to work quickly if we see 60 a barrel. Matthew mcaleer, thank you. Its a sprint dialing up a turnaround or passing the fault default . Takataide story of the airbag crisis. Disappointing auto sales yesterday. Gm down. 3 . They saw bigger declines in u. S. Auto sales than expected. Shery welcome back. This is Bloomberg Markets. Two former Deutsche Bank traders face federal charges in new york, accused of being involved in a conspiracy to manipulate the interbank rate. Bringtest prosecutions to total number of bankers 15. Walmart is testing drones it says will help manage its warehouse inventory more efficiently. The rollout could be in the next six to nine months. The move is yet another sign of how walmart is trying to compete against online leader amazon. Com , which is testing drones for home delivery. Ceo has died. Sico he was credited with signing Michael Jackson and other celebrities for pepsi, pressuring rival cocacola. He retired in 2001. Roger enrico was 71 years old. Sprint is facing a mountain of debt and its financing plans are leaving many scratching their heads. They said the strategy will enable it to break even. Network to slash spending to the lowest since 2010. Why are people concerned with this turnaround . Michelle the question with sprint right now, is this plan sustainable . They are mortgaging off their assets to raise cash and they had 30 billion due in the next three years. People are wondering how sustainable this solution is. If you had to get through all these creative dancing mecnisms, how long can you do that before something bad happens . Shery back in april, we saw sprint racing 5 billion raising 5 billion. Michelle sprint did that to raise cash because it is shut out of the bond market right now. Half of their bonds are trading at distressed doubles. The bar when costs are almost double. Borrowing costs are almost double. They had to reach out to stop tank softbank for this lifeline. Capital not commit any the hope is that will get them through this next line of maturities. Shery you brought up softbank. They have deep pockets. Wooden softbank step in and helps out wouldnt softbank step in and help sprint out . They were structured opening it tooid any more risks. What is the worst that could happen for bondholders . Michelle sprint goes into bankruptcy or default on its debt. They are left fighting over these assets, these deals are secured. They do not have as much recourse as these new lenders do. Are they basically supporting these bondholders for the shortterm lifeline . Shery thank you so much, Michelle Davis of bloomberg news. Julie hyman has a check on company movers. Julie controversial stocks weve been talking about today. Kumors being targeted by citroen research. He said this is a morally bankrupt company. Chemoursan for declined to comment. Chemours was designed to go bankrupt as part of a spinoff from dupont. People livingfrom near a plant in west virginia. They claim they hurt by one of the chemicals from that plant. The amount of liabilities that will be assumed by this entity. One of the chemicals this , park place said earlier this year the prices for that chemical will not recover. The stock has been down sharply ever since that spinoff. There is the case of signet jewelers. Observerest rate brings together a lot of the bearish commentary coming out about the stock as of late. Hes talking about the companys credit positioning. He says the quality of that debt is not high. He also highlights some reports that alleged the company has swapped out some of the gems and its customers jewelry or lower quality or for lower quality or manmade gems. We have not gotten a comment from this company. Oracle as well in focus today. Here, there is natural lawsuit underway from a former in leave from the company who says she asked to cook the books the shares are down by 4 . Shery thank you so much. Historicad, takatas airbag recall and how it could have in could have been avoided. Deadly airbags recall as becomes a massive, it is the biggest auto recall in history. Bloomberg businessweek took a look at how takata ended up in so much trouble. ,he biggest in u. S. History more than 60 million airbags being recalled. As of may, only about 8 million have in replaced that have been replaced. There just arent enough replacement airbags to go around. It is hard for car dealers sometimes to find the owners of used cars. A lot of the cars and most danger are older. Recall notices have arrived at the homes of people weeks and months after they been in an accident. Shery weve seen these criminal investigations, personal injury litigations. Litigations. Has been settling some of the personal injury lawsuits, once where shrapnel has damaged, injured somebody. And honda have been settling those cases. There is a big class action that is coming up. There are a few cases where people have decided not to settle. Shery how much could this cost takata . Susan it is hard to say for sure. Theres estimates of 11 billion. Backtakata starts paying the automakers. Shery what is the problem with these airbags . Switchedkata propellants, choose to use one with ammonium nitrate. It has problems remaining stable over time. Heatthe propellant is in or humidity, the degradation occurs were quickly. Occurs more rapidly. , the still ahead Commodities Oil prices on the rebound today as opec leaves production unchanged. We will hear from the opec secretarygeneral. Shery this is Bloomberg Markets. Lets start with the headlines on the first word news this afternoon. Mark crumpton has more from the newsroom. Germanys parliament has voted overwhelmingly to recognize the ottoman empires 1916 killings and deportations of armenians as genocide, setting up the next potential source of comfort between Angela Merkel and the turkish president. Federal prosecutors are trying lifeock the payments on insurance policies taken out by one of the center no gunmen best San Bernardino taken out by one of the San Bernardino gunmen. Mother ask named his the beneficiary of both policies. Hillary clinton and Bernie Sanders are locked in a tight battle in california. Mrs. Clinton with a slight lead over senator sanders. Cut short a Campaign Swing in new jersey to spend more time in california. Clinton leading sanders 4947 . The primary is tuesday. Annual hurricane damages in the u. S. Will be 39 billion by the 075 due to Climate Change and coastal development. Effort tow global reduce emissions could lessen hurricane damage between now and 2075. Global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. Shery Commodity Markets closing in new york. Lets take a look at todays biggest movers. Iron or at risk of losing all of this years gains. Signs of a demand revival in speculatedspurred a rally supply is still increasing and demand remains weak. Oil recovering from earlier losses. Wti closing the session at 49. 08. It had dropped after opec announced a would stick to their got ation policy, then crude a boost from the stockpile reducing for the first time in four weeks. Ryan they wanted to show the world they could be unified. There were two real tests of that. Can they reinstate the Production Target they drop at their last meeting in december . They failed to do that. That was perceived as a signal or sign of weakness by the oil market. The other real test was can they choose a new were secretary a new secretarygeneral . The opec ministers have been unable to agree on who should get the post as the factions within opec have been pushing forward their own candidates. Today, they achieved that and chose a new secretarygeneral. In time toin place get the house in order for the meeting in december. On the policy front, they kick the can down the road. They did not push the architecture necessary back in place to intervene on the market. At least they have a new leader. , ryan spokeer today with the man picked to be the next opec secretarygeneral, mohammed barkindo. He weighed in on the future of opec and the direction for oil prices. Hammed it will not be appropriate for me to comment on decisions made at this meeting. Going forward, we will have ample time to review these issues with you and other colleagues in the media community. Ryan what can you do to bring about unity in opec . Weve heard about the acrimonious atmosphere inside the meetings. Mohammed you have to give opec being the only organization i know of that had warsssed the turmoil of between its members and yet survived as an organization. Withis currently happening opec being overregulated come im confident the future is bright. We will continue to adapt to within the Global Industry and the world at large. Ryan you are no stranger to the oil market. Run nigerias estate owned oil company the past. The markets reached a the market is steadily rebalancing. Expectations are that from the Fourth Quarter of this year to q1, q2 of next year, we will begin to see some equilibrium in the market. Shery that was mohammed fromndo with Ryan Chilcote the opec meeting indiana. Coming up in the next 20 minutes , Vice President joe biden once called Laguardia Airport a third world country. Now, a massive renovation is twor way to run a vital it. Ve it to revive ft is making inroads and has becomes apples preferred ridesharing service. Trading onok at the the tech heavy nasdaq them rising. 2 . Asdaq, shery Bloomberg Markets this is this is Bloomberg Markets. Shares of chemours tumbling today. By chris we are joined at princeton. Falling as much as 15 . Shares of chemours falling as much as 15 . Price we may see a increase in one of its key products for the first time in three years. Nothing has changed in the chemours story today. Todaye issues discussed have been well documented by bloomberg intelligence. Theres nothing new out today. Shery explain to us a bit of these issues that chemours is facing. Chris the first is the large debt load that du pont spun them up with. The leverage ratios have been increasing as those companies have been tromping. Troughing. Dupontmical plants from facing trials. Those cases will set a precedent to size what the ultimate dupontchemours would be. Chemours would be paying duponts portion of the liability. Shery the last time we saw chemours stock plunging was back in january when we heard that prices of titanium dioxide will not recover. Now . S the market doing chris theres four players. Chemours is wellpositioned in the market. Those players have been pushing through price increases. They are starting to gain a bit of traction in the market. We will see what they are actually able to realize. The stock has improved in regard to the business since the start of the year. Shery thank you for talking to us. Once likened to a third world country by Vice President joe biden. Now, Laguardia Airport is getting a serious rebound, breaking ground on a multibilliondollar redevelopment project at essential terminal b. It includes the use of bridges islands. Joining us with more on the , the ceos george casey of one of the companies overseeing the renovation. Thank you for talking to us. Not been to laguardia, but ive heard Horror Stories about the airport. Where is the project at right now . What is the timeframe for redevelopment . Commenced the lease with the Port Authority of new york and new jersey yesterday. The governor announced the redevelopment of laguardia, starting with the Central Terminal building. The gateway partners. They taken over the operation of the Central Terminal building and commenced Construction Program that will take place over the next sears to revamp next six years to revamp the terminal. Shery we hav