Take a look at the charts right now. Dow jones extending gains, up. 7 . The s p 500 also up. 5 . We are seeing the dow and as an p5 hundred gaining for a fifth consecutive session. Nasdaq reversing yesterdays losses. Investors got data this morning that showed that jobless claims in the u. S. Held at the lowest level since mid april. But going into the bloomberg and taking a look at the sectors that are gaining on the s p 500, you can see financials clearly leading those gains, a. 9 percent. Of course, we have positive ,arnings out of jpmorgan beating expectations. Seven days of gains already, the longest winning streak since november, 20 14. Energy shares are also up. 3 . Oil up from a twomonth low. Analysts saying it was time for a hard sell off the only sector in the negative is utilities at the moment. Take a look at transportation right now. It is soaring. The transportation index of more than 1 . Earnings from csx are pushing the index higher a sixthow gaining for day. Take a look at the fx market. We are seeing big movement there. The yen falling again, down. 9 . For its biggest weekly drop since 1999. The clearer gainer is the pound, gaining 1. 4 . And solidly risk on. What is happening in the debt world . Japan, we. , the u. K. , are seeing the prospect of more stimulus. In japan, for example, we are hearing talk of how to cut the money. We are seeing debt falling and yield rising a little bit at the moment. David thanks so much. To bloomberg get first word news with mark crumpton. Mark conflicting reports today about Donald Trumps selection of a running mate. The New York Times and cbs news say trump has selected indiana governor mike pence, but the times also reported that trump could change his mind and the Campaign Manager says no selection has been made. Meanwhile, the Indianapolis Star says pence has dropped his reelection bid for governor. The Trump Campaign is planning on an announcement tomorrow morning in new york. We will bring that to you live on bloomberg. Security Officials Say they are worried about possible violence at the Republican Convention in cleveland and the Democratic Convention in philadelphia. ,mong those expressing unease Homeland Security secretary jeh johnson. Secretary johnson i am concerned about the prospect of getting out of hand. I am concerned about the possibility of violence. We have within dhs some 3000 personnel that will be dedicated to the security of the Republican National convention and the democratic National Convention each. Mark secretary johnson said he will inspect a cleveland site the cleveland site tomorrow and travel to philadelphia next week. Badere Court JusticeRuth Ginsburg says she regrets making illadvised comments about donald trump. She was frank in recent interviews, even calling him a faker. She promised more discretion in the future. Secretary jack lew met with his british counterpart today. After the meeting, he said he is looking forward to a highly integrated relationship between the u. K. And the eu. Chinese passenger planes made int flights to new airports one of the places in question in the south china seas. An International Tribunal has ruled that china has no claim on the south china sea, ruling china probably rejected. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 150 countries. U. S. Stocks rising for a fifth day, extending alltime highs. Investors question whether the recent runup has gone too far,. Oo fast joining us now is in the strategist. I will put that question to you. Too far, too fast . Given our target is 2100 by years end and we are a tad above yes. A lot of people did not anticipate this rally. People did not position themselves more aggressively. Is there a correction coming . That. Could see what we have seen consistently is investors not believe in this market. Money flows out of u. S. Mutual equity funds continues. We have had the worst year this includingy year, 20012 thousand two and 20082009. You never get a cataclysmic crescendo of capitulation. Bull markets and bear markets either end with a whimper or without any sound whatsoever. David we have asked you about your worst fears. Deequity deflation equitization. How likely is that . Can borroworporates cheaply, why wouldnt they take advantage of that opportunity . Few companies have shrunk their share accounts. Buyback prevents dilution of incremental shares growth. There is always this kind of share creep, if it is Stock Options or stock acquisitions. What they have really done is prevent that from happening. It has not really at a to earnings, it has just reduced the dilution aspect. Does the sense of dividend growers in utility continue to be where we look for growth . Will the leadership change . We think leadership will change. Ask about it. Ts moreover, because they say rates are low and negative yields around the world push down u. S. Rates, as a result, can you have higher multiples . The problem is, take utilities, for example, when its trading at a 25 year high, youre not going to get 30 earnings rose out of utilities. Does Earnings Growth out of utilities. You and i are going Earnings Growth out of utilities. You and i are going to pay our gas bills and our electric hills, and they are not going to explode higher. , and they arells not going to explode higher. Financials are doing better. Industrials are coolingoff. About i want to ask you the election in the next big risk you see on the horizon. How are you positioning yourself ahead of that . You raised the specter of what he donald Trump Presidency could mean. What, potentially, could it mean for the equity markets . There are a lot of split opinions. This point, i always raise my canadian flag and say i dont vote in this country. I kind of avoid that. But its interesting. There are some people who think donald trump would be an outright disaster. I have clients who believe he is dangerous. But there is political partisanship that comes out. If you look at it more objectively, he has said he will beed doddfrank, which would good for financials. He is antiregulation, which is positive for the energy sector. He wants to generate growth and slash taxes and invest in infrastructure, which is something Hillary Clinton also talks about. He wants to spend more on borrowed money, something he has never really had a problem with. Vonnie if you have a 2150 target, are you going to change that now that we have bypassed that . Are certain legal restrictions that would prevent me from doing that and i kind of like my freedom. The,e tobias lack of citigroup chief u. S. Equity strategist. , shares are rising ipoy for the biggest tech of the year. We hear from the founder of the japanese messaging company. David plus, bank of englands Holding Interest rates steady. We will hear from a member of the policy committee. Bank earnings continue. Wells fargo reports tomorrow. We have a preview of what to watch for. This is bloomberg. David this is bloomberg markets. Vonnie time for a look at some of the biggest business stories in the news. France is warning the European Commission head not to take a consulting job at Goldman Sachs following the brexit, some are considering it an act of the trail to the eu ministers are free to take new roles after 18 months after leaving. Job,pes to take the despite having left his post only 20 months ago. The countrys central bank confirmed by phone that zimbabwe has not paid a dime of what they oh the imf, the world bank, or the African Development bank. Mediating asec is feud between Service Providers and broadcasters which has been outages ongram and paid tv. The fcc says they will not rewrite rules to accommodate either party. Hireders are looking for charges to offset rising revenue costs and sluggish rising programming costs and sluggish ad revenue. Shares in the Investment Company line are soaring in their debut today. We sat down with the Company Founder and ceo. What did this company say about how it intends to grow . You would think the u. S. Would be one of their target markets, and it may be. One of the cofounders today said they think it is their dream to be in the united states. But when you look at growth markets, its still back in asia, but it is outside japan. Taiwan, thailand, indonesia, thats where they are seeing growth rates of 80 90 , and so that is where they will put most of their energy and their billion dollars. It was certainly a cheerful day for them. First of all, obviously, we are very happy with the initial response from investors. Most of all, we are going to focus on investing in services. Are the numbers man. Tell us exactly where that investment is going to go. We will be focusing on key countries, japan, thailand, taiwan, and indonesia. We will be using any profits for investment opportunities. At investmentking opportunities for technology companies. Betty what might that look like . Investment, more what kind of investments are we talking about . Acquisitions . Organic growth . What are we talking about . We are making partnerships, we can make acquisitions or minor investments. Betty how important is the u. S. Market going to be . Its still an important part of your business. ,if we complete our service we expect to expand to the u. S. Market. The u. S. , you say market is a dream for line to enter. There are quite a few already well established. Facebook messenger, what that, we chat in asia, in your home base. Asia,tsapp, we chat in your home base. How do you plan on competing with them . From the perspective of competing, we think messenger competition is over. Onestopcused on service. Ou can enjoy music and gaming we call it a onestop service. So, if we complete our service , i think we have the most advanced company in this area, so they will give us an opportunity. Eddie more opportunities for them. We were there when they rang the bell. They were very excited. They had a lot of digital sticker characters. Thats not hello kitty. Shares did rise 27 . Were they concerned there was money left on the table . Betty i am not sure that did concern them. They were much happier that the shares did rise and that they got the amount of demand. They were able to price shares at the higher end of the range. They got their story out as well. One of the executives said we worried about it, that that would spoil the trend, the momentum, and it didnt. Interesting to note that the country is korean. They started after the sunol me tsunami. They developed the platform so that people could communicate while lines were down. Focus now shifts to japan. They open in tokyo tomorrow. Betty thats right. Thats where the ceo will be. David thank you. Still ahead, shares of intel are up 10 . Options insight is next. This is bloomberg. David this is bloomberg markets. Vonnie time now for options insight. Joining me for todays managerinsight is the of kkm financial. He joins me from chicago. Dan, its great to talk to you. So, the big surprise decision, the bank of england is keeping rates steady. How has that changed Market Dynamics for you . Dan they are moving to evaluate over the next couple of weeks before a possible move in august. The markets appreciate that they were not just reactionary. Earnings, particularly when you look at the financials being very positive, have propelled this market higher. We have move through this week with another big week on the markets. The bounce back from the lows continues. Today, wells fargo listed intel as one of its top 20 picks on the s p 500 with the most upside potential. What are your thoughts on that . Dan i thought that was overly bearish on intel. , itsct of the matter is 16 of its lows from two weeks ago. Expectations have been ratcheted up ahead of an earnings announcement. We have seen analysts raise expectations as well. Look at the december 2014 hi, there is resistance there. Like it has gotten a little ahead of itself. Intel has been working aggressively to become a data center and thinks chip company. What are your thoughts on the firm itself . Overall, longerterm, i think yes, the stock is going to continue to outperform the market. It certainly looks like its in a good position moving forward. Like i said, this is more of a shortterm play. Looking out over the next double of months, it feels like a stock has gotten ahead of itself. It has gotten some very positive guidance to maintain its valuations. I expect there will be a bit of a mean reversion in the next couple of months. Intel could be dragged down as well. Thank you. David thank you very much. Insight. Options coming up, reaction to the bank of england decision to hold Interest Rates steady. A formerwill hear from member of their external committee. Vonnie this is bloomberg. Get ready for the rio Olympic Games by switching to xfinity x1. Show me gymnastics. X1 lets you search by sport, watch nbcs highlights and catch every live event on your tv with nbc sports live extra. Im getting ready. Are you . X1 will change the way you experience nbcuniversals coverage of the rio Olympic Games. Call or go online today to switch to x1. Matt you are watching bloomberg markets. Im matt miller. Joe im joe weisenthal. Matt lets check in on the headlines. Heres mark crumpton. Ink donald trump is closing on his running mate selection. Reports are saying it will be indiana governor mike pence. A lastminute change of heart by mr. Trump is still possible. A Campaign Spokesman says a decision isnt made yet but the campaign is planning an announcement here in new york city tomorrow morning. The Indianapolis Star reports that pence has dropped his reelection bid for governor. The Trump Campaign is planning that announcement tomorrow morning. We will bring it to you live right here on bloomberg. In other news, Chris Christie pleaded guilty to a federal charge of soliciting a bribe. Officials say christie threaten to withhold funding unless united made it easier for sansone to get to his vacation home. The united ceo also resigned after the investigation. Hillary clinton attended a weekly luncheon of Senate Democrats on capitol hill and briefed them on her campaign. Was joined by former colleagues as well as potential Vice President ial choices, including tim kaine and elizabeth warren. Mrs. Clinton is scheduled to campaign with tim kaine in virginia today. Secretary of state john kerry is in talks with Vladimir Putin on a potential deal that could prevent an escalation of fighting in serious civil war. Syria has civil war. Syrias civil war. Congress will release classified alleged Saudi Arabian government ties to the 9 11 hijackers as soon as cnn,row, according to citing multiple unidentified sources. The socalled 28 pages were part of a congressional investigation of the terror attack. Hours a day24 powered by 2400 journalists and 120 countries. Markets close in under 30 minutes. Before that, lets go live to the nasdaq with abigail doolittle. Abigail we are looking at another rally for the nasdaq. I say another because the nasdaq has been up 10 out of the last 12 sessions. It briggs brexit, the nasdaq is also positive on the year. Some text and that did us some tech stands out to us today, including apple and intel. Taiwan semiconductor has started making chipsets for the new apple iphone seven. Clearly, that is a positive for , probably why it is up about 2 today. As for intel, intel did recently win a modem design for apple on that iphone. Intel is up seven days in a row and supplies and materials are also higher seven days in arose. Applied materials and Applied Materials are also higher seven days in a row. Oliver you mentioned ebay as a standout mover in the textbased. What going on there . Its best dayving since the beginning of april. A Bloomberg Intelligence analyst thought it could have to do with the fact that investors think it is more likely the bank of england is on cause as far as rate cuts. This could suggest the u. K. Economy is not going to be as as earlierthe brexit thought. Plus, recent checks are show weighing that hits to the companys website are better than expected, strong right now, so we do have some strength in ebay. Oliver thank you, abigail the nasdaq. T joel the bank of englands move to keep Interest Rates unchanged caught some off guard. Our next guest says the bank of england will cut in august and start qe. Joining us from New Hampshire is a professor of economics at Dartmouth College and former member of the policy committee at boe. He is also a Bloomberg Contributor noted her. Thanks for joining us. What did you make of this contributing editor. Thanks for joining us. What did you make of this . Said, its a surprise. When you have a surprise, you think perhaps they know something good that we dont know. Thats not true. When you read it, its the most apocalypse take language i apocalyptic language i have read since 2008. All of the surveys so consumer , investment inng jobs appears to be collapsing. One survey said a quarter of all firms immediately said they will freeze hiring. What you have is a lot of evidence of why you should have , and i cant see any evidence of why you shouldnt. What theyve talked about is a package of measures thats coming, and thats part of it, big errork it was a not to cut today. Matt we