Lets check in with Ramy Inocencio ramy . Ramy we are at session highs of 1. 5 or more across the board with the major indices. Ever since the brexit, markets to 2. 5 since 2 june 23, right before brexit actually happened. The dow is up 1. 5 . Nasdaq is up nearly 2 . Lets take a look at the intraday chart. The s p, we see we have been on the up and up for the whole entire day. Up for0, getting a leg the dia inventory. We have been higher. Will show you the imac function, the s ps 10 sectors and their health, and is good today. Green across the board. Even up 0. 2 . This is, an energyled rally. Commodities are jumping, financials in second position, up 2 , health care, industrials also following similarly. Lets talk about energy a little closer. I want to show you why it is moving. It is because of what is happening with nymex crude. It is up 10 off of session highs. You can see we crossed the 50 barrel market in the past 15 minutes, 30 minutes or so. This is on the back of eia inventory. That is, we saw a bigger than accepted expected drawdown last week versus 3. 8 6 billion. This is pushing the price of crude. As you can expect, while investors are getting a bump on this depending on which ones you are. Biggests at 6. 7 , the in two months. Similar with transocean. It is up 5. 5 . Gender morgan up by 1. 1 . They are all on track to the highest close. David any other movers . Ramy one is in the fertilizer space, with months and up. It is up by 2. 5 . You are member we reported they came out with disappointing earnings on the order of being its worst q3 net income, the lowest in five years. Helphis could actually monsanto and help bayer with the takeover. Backs of earnings came in worse than expected could be a boon for monsanto. They are now asking 7 billion more from bayard. That is according to reports. Back to you. Thed Ramy Inocencio at markets desk. We are awaiting a News Conference from the north american Leaders Summit in ottawa. President obama speaking with Prime MinisterJustin Trudeau kenyane pin yet a yet a. Later on, there will be a bilateral talk with Justin Trudeau, and that he will address the Canadian Parliament. To the first word news. Mark crumpton. Mark Senate Majority leader Mitch Mcconnell says lawmakers have a final vote on the puerto vote today. They are trying to pass this before friday, when a two point 70 billion on payment is due. Puerto rico cannot pay, and they that up aboard to see this through. Spains Prime Minister says his country opposes the European Union negotiating with any other government within the United Kingdom. Mariano says if they leave, scotland should also leave. He recalled the fate in the brexit problems and the u. K. To resolve. The indian Prime Minister has improved salary increases. This risks treasury the whitest budget deficit. The payout is 13 billion. In the finance, he says this amount could go even higher if other allowances are approved. For the first time in decades, the nations largest Hispanic Civil Rights Organization will not invite any president of candidates to its national convention. The National Council says the decision is about test result of donalds concerted effort to denigrate and demonize immigrants and the hispanic community. They say they can invite Hillary Clinton they cannot invite Hillary Clinton without also inviting donald trump. Player options declined for next season with the nba champion cap cleveland cavaliers. This was expected. With said he plans to stay cleveland. He has signed a series of contracts with a player option. He was set to make 24 million next season. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. I am mark crumpton, this is blackbird bloomberg. Back to you. Vonnie we are going to the joint News Conference, a trilateral News Conference areas we have three leaders, justin fromau, enrique pena mexico, and president obama, speaking about their north atlantic leaders deals and the trading initiations with pena n ieto of mexico, and the bilateral meeting with Justin Trudeau at 5 00. You saw there john kerry. And then president obama will address the Canadian Parliament later on at 5 45 eastern. You can see all of this live on your bloomberg. You can watch Bloomberg News, and we will bring it to you as and as they begin speaking. Markets are bouncing back after the brexit. The s p up 3 in two days, following the big selloff after thursdays vote. For more on that, we want to bring in danny berger. You have been speaking with traders, strategists all over the market. Everyone i am in talking to saying, are you surprised by how much we are rallying back . Everyone says, we expected it to come back. The seller did see overdone, but everyone is very shocked about how sudden and fears this rally back has been. Also interestingly, the price of the s p is not quite where it was before brexit. It is getting close, but not quite. It is actually lower than it was right before brexit. So there is this idea that options are pricing in. This was a very momentary couple days shock, nothing to be too concerned about. So pretty concerning action from the markets. About the what counter strengths, not making all the losses, but feeling it heavily . Dani it is like we were at a sweet spot in terms of the markets. Be made an argument to that brexit will hurt u. S. Stocks. A lot of people are saying, if that happens, it will be far off in the future. Now we have pretty good u. S. Economic numbers coming out. We had consumer confidence, spending numbers coming out. That was strong. And because of brexit, a lot of people are saying, there is no chance the fed will raise rates this year. Though what makes this so awesome, the fear we get the increase. It is the best of two worlds, strong u. S. Economic data and removing the fear that the fed is going to increase interest rates. Catalyst oil, the dollar index, reduce assets . What is driving the trade . Dani today, there is a lot of strengths with energy. So much uncertainty around their. There are a lot of investors who are going to blog on to oil. Oil trade is pretty confident. Not confident with financials, for example with all of the uncertainty out there. That is one sector in particular. In general, the past few days, because of the riskier assets, energy, materials, those are the ones coming back the fiercest right now. Theities still gaining, but other assets not really coming back as strong. Interesting though, those are really expensive right now. When you are in this environment and you are not sure, especially the selloff friday and monday, they bid up the valuations, extremely high, 20 over what their five year historical averages. People are really comfortable staying safe right now. You mentioned u. S. Equities. When you look at european equities, is it attractive to get into those right now . Dani there is the sense there is so much uncertainty, and markets a that. Wheels also saw so many strange and interesting use and you had the ftse at times seeming it should move better considering what was going on. Investigators do feel comfortable. They are not too concerned about what is happening in the u. K. It will not impact us anytime soon if at all or to any great extent. So i think it is this kind of dichotomy of, you have one day,y risk off, and of people now feeling for capital to move back in. We are not raising rates, returning back to the vacuum. Exactly. Investors feel comfortable, rates are not returning, to go ahead and buy u. S. Stocks. And you have seen days certainly we are good u. S. Data comes out, and all of a sudden, there is a selloff. Like i said, it is a nice spot to be in. The u. S. Economy looks strong. But we dont have that threat of the fed. Berger, at is dani stocks reported. We are awaiting a News Conference in ottawa. The president of the United States will be there with the president of mexico and Prime Minister of canada. We will talk about it. Bring it to you live when it happens. This is bloomberg television. David this is bloomberg markets. I am david gura. Vonnie i am vonnie quinn. Awaiting a News Conference in ottawa. We will bring that to you live as an is a take lays. In time for the business flash, looking at the biggest stories in the news. Terminated its attempt to buy Williams Company after 18 months. They will carry on as a Standalone Company while others take options. The judge ruled that Energy Transfer can back out of the bid to buy the rival pipeline after failing to get lawyers to sign off on a tax opinion. U. S. Officials are announcing a price tag of 80 billion for the taste tv station airwaves being sold in government auction. This could be the second round. To geture from the fcc them to sell into wireless providers. Ferguson added to the board and wall street. He was the Vice President for several years. In the Company Since 2008. That is the business flash. Vonnie moore highlights on next is of interviews with larry think of blackrock. Erik schatzker of Bloomberg News asks think how the last few days have been an blackrock for him and blackrock. Dani it means it means greater uncertainty. There is a lot of debate what it means. With a great amount of certainty, there will be uncertainty. That is leaning towards more ,ehaviors such as hoarding cash less willingness to invest in the long term. Rishaad erik is that what investors have been doing in the past five days. Certainly. The messaging from europeans are going to be important. Whether the brexit happened or not, it is still debatable whether it will happen or not, i think this is a warning over the valve for the europeans. I was not bullish on the horizon, because you see such aberration with the differences of the countries. There is going to have to be greater restructuring in some of the nations. Could helpning fortify europe. It may make european leaders talk about how to make sure the cohesion of the eurozone remains. What it means is, Prime Minister how long Prime Minister hollande of france and the chancellor of germany, they have to become more european. E and merkel,land does that mean they will demand less austerity out of the spanish and italians . Larry no continuous austerity, but we the germans will do a fiscal policy. They have a huge surplus. They can stimulate europe themselves by creating huge fiscal policy. That is the frustration, germany has not taken a leadership role. These can be mitigated through more fiscal policy. Especially in germany, or they have weakness in infrastructure, unlike france. It is hard to understand how this is playing out, but very certain yesterday to markets begin to stabilize. The chancellor actually spoke as the european. The rally is still carrying on, i have not seen the last hour. But it looked like they were continuing to stabilize. They had inflows and the last two days, putting money in high as it widened out on friday. So well wait and see. Moneye 55 trillion of sitting in cash. That money will be put to work someday somehow. David that was larry think speaking to erik schatzker. Vonnie president obama and Prime Minister trudeau and and ricoh kenya and ricoh kenya are heading to the podiums. Amongyou might expect friends, but also a little poignant. We are thrilled to have president pena here for his first visit to canada as president of mexico. At the same time, it is sad is the last chance or all three of us to get together in this capacity given president obamas impending tire meant. [applause] Justin Trudeau something he pointed out more than once with a little smile. But i do want to once again think both leaders and their delegations to coming to ottawa and being open for the discussions that took place today. Things we first discussed with the common respect for diversity and support for the lgbt writes. Especially in the wake of the shootings earlier this month in orlando. The United States and mexico both lost citizens in orlando. That tragedy has strengthened our determination and to protect the rights of lgbt people, and on behalf of, and we urge all leaders to do the same. We also talked about the need to ensure a clean and prosperous future for all of our people, and for all people in the world. President obama and i are unanimous in our belief that on this issue, north america can and indeed must lead the way. Today, we resolved, we turned that resolve into action. Negotiation of an ambitious and enduring north american climate, clean energy, and environment partnership. This partnership will see our countries stand sidebyside as we work toward the common goal of a north america that is competitive, that encourages clean growth, and protects our shared environment now and for generations to come. It is a partnership that lays out some very clear deliverables and identifies a realistic path to achieving them. Advance cleanill and secure energy with the goal of 50 clean Power Generation across the continent by 2025. We will drive down shortlived thymic pollutants, things like methane, black carbon, and hydrofluorocarbons. We will promote clean and efficient transportation, creating clean jobs as we reduce energy consumption, air pollution, and greenhouse gases. We will Work Together to protect nature and to advance our Scientific Understanding of the environmental challenges we share. And finally, we will respond directly and decisively to the challenge of climate change, working to make our own countries are resilient as we encourage others to do the same. This is what can happen when countries come together and pursuits of a common goal. We have a big idea, and the political will, to make it happen. Todays climate agreement stands as proof that cooperation pays off. Working together, always beats going it alone. There were, of course, other issues on the agenda as well. We also have the opportunity to talk about ways of advancing trade and competitiveness in north america. It is essential to each of our economies and vital to the creation of good health. Furthermore, we reasserted our common commitment to human thets, and we discussed aspect on which we could be better partners to ensure the protection and defense. Andlso discussed regional borderline issues that are urgent, and the way we will Work Together to meet these common challenges. How to better cooperate on defense. At it also meant forging closer working relationship when it comes to providing development and humanitarian assistance, as well as finding ways to more effectively combat Public Health challenges, the illicit follow of funds and drugs, and human trafficking. As i said, the conversations were friendly, but also rank, and i am reassured and encouraged by the progress we were able to make. Citizens havethe always been strong, even in the past when governments have not always seen eye to eye. It is gratifying once again, we are able to come together as leaders of three truly great nations to honor the enduring friendship and must again deliver real results for the people of canada, mexico, the United States, and indeed, the entire global community. Thank you barack and enrique for all your hard work today and every day. I would now like to introduce the president of mexico, enrique pena nieto. Note thank you very much, Prime Minister of canada. Honorable, barack obama. Conference, the states visit and today, at the north american Leaders Summit. Prime minister trudeau, allow me to say once again how grateful i am for your hospitality, for the received which we were , myself and my delegations. We were warmly welcomed in this country. We are going back to mexico with memories of the warm welcome the canadian people showed us in quebec in toronto and ottawa. We are going back to mexico fully convinced that we have renewed our bilateral relationship with canada. Canada has a leader that is going back to universal values that make canada stand out in the world. President barack obama, i would like to say that we acknowledge your determination to him, a more united integrated and competitive north america. A more prosperous and inclusive north america. I would like to highlight specifically being the last north american Leaders Summit that you will attend as the president of the United States, i would like to acknowledge that mexico recognizes the fact that , alonge promoted mexicos strategic partnership, and you have always been willing to work towards a bilateral agenda that covers different sizes beyond security sides the on security. With the clean energy, you have shown those efforts. You have always favored a more expedited trade, safer border, for competitiveness in the trade. You have always been in favor of keeping cooperation and education with cultural matters. You are willing to Push Technology and science forward. There is no doubt that your legacy also covers other regions of latin america. You have reestablished relationship with cuba that has supported the development of central america. The summit of the americas as well, you have