On the white house is part when it comes to this legislation . We saw the white house on the fence as to whether President Trump was going to sign it for a while. How has he come around to this legislation . Kevin they have said they are going to sign this russia, iran, north korea sanctions bill. It passed nearly unanimously out of the senate and the got to the house. The white house is working with house leadership to tweak versions of this bill from their perspective that would not hurt u. S. Businesses. Now the Russia Companies that were named on this sanctions list, if the u. S. Has some type of business arrangement with some of those businesses or do deals with them up to a one third threshold, they will be able to continue. M putin has already responded to this and he has kicked out essentially two thirds of u. S. Diplomats who are in russia to get out as a response to the Republicancontrolled Congress doing this piece of legislation. Was fascinating is that the Republicancontrolled Congress sent a bill to the president s desk that essentially handcuffed him. If the president wants to weaken sanctions as a result of the meddling in the election, if he wants to roll back any of those sanctions, congress has the ability to check in on that and stop him from doing so. David i want to ask what we have learned from the incredibly short tenure of Anthony Scaramucci as medications director medications director. The trump soap opera is not episodic either. Chaos and uncertainty is what trump arrives on and relishes. The latest round of white house crazies should not ask questions of business as bad as it gets . The weeksweek, like before it in the weeks to come, is what it will always be like. What are we learning about what the white house is operating . Kevin covering him on the campaign, it was like how many times can people predict the demise or changing of now president donald trump. At the end of the day, theres no way to paint it. Skype Bridge Capital said Anthony Scaramucci is pathetic at best. And absolute ricocheted through the halls of west wing in the halls of congress. There was no defending that. Whether you support donald trump or are against President Trump, theres no way to defend that. It was clearly general kelly asserting himself on day one. You look at that from general kellys new chief of staff, asserting himself and cleaning house and setting a new tone at least for the staff level. That President Trump can say what he wants and staffers have differing opinions of that. Its an entirely different thing when the Communications Director says that as well. That will be interesting. David kevin cirilli, our chief washington correspondent joining us on capitol hill. President trump tweeting earlier about the dow. Stock market could hit alltime high again. He is walking th watching the markets. Pushinge have the dow to a record and approaching 22,000 the s p in the nasdaq are also higher, but they are not quite at that record level because we have important Things Holding them back. On the plus side, we have better than estimated earnings, but we have some worse than estimated numbers particular from the auto and industrial sectors. We had the monthly auto Sales Numbers come out this morning and they were worse than estimated across the board with the exception of toyota. General motors sales down. Ford motors down and that is steeper than expected. Then you have earnings coming up and both of them coming in below estimates. All that pressuring whats going on with stocks. Not only that, but pressuring whats going on in the rates market as well. When these stocks came out, we saw the 10 year yield turn lower. We are seeing buying in the treasury market and sending that yield lower. We are seeing a mixed dollar picture on the flipside interestingly enough. We are seeing the dollar strengthened versus the europe and little changed could be argued versus the pound and the japanese yen. There has been again decoupling from the dollar index overall. That has been the longerterm trend that we have been watching. David coming up, Senate Democrats push for bipartisan talks to overhaul the tax code. We will have the latest on that next. This is bloomberg. David this is Bloomberg Markets the trump economy. Im david gura. Lets check in on bloomberg first word news this afternoon. Mark crumpton has more. Mark republican efforts to replace obamacare could be on the back burner for quite a while. Thats as an increasing number of senators say its time to move on. The Senate FinanceCommittee Chairman orrin hatch so cc little chance for further action anytime soon and any chance to revisit the issue should be bipartisan. South dakota senator john been says the party is moving on to tax reform. A british email prankster appeared to have tricked a number of white house officials. According to cnn, he posed as recently fire chief of staff Reince Priebus, and emailed Anthony Scaramucci, who lambasted Reince Priebus and a foulmouthed interview. He also got a response from the Homeland Security adviser, who he emailed posing as jared kushner. Its one of the biggest moves yet and Vladimir Putins military buildup. According to the new york times, 100,000 Russian Troops will hold maneuvers close to the eastern edge of nato territory the summer. U. S. Military officers say the drills could be a pretext to increase russias military presence in belarus, which borders three nato countries. Penceile, Vice President is in the former soviet republic of georgia. He says the u. S. Backs georges desire to join nato. thus, ohio has adopted a new texans send to learn investments which ise companies, considering additional u. S. Plants after announcing a 10 billion facility in wisconsin. The policy allows ohios capital city to negotiate a cap on taxes. It would help with nonretail operations that would have annual revenue of at least 7 billion and commit to create no fewer than 1000 new fulltime jobs, paying at least 15 an hour. Global news 24 hours a day howard by more than 2700 journalists and analysts in over 120 countries, i am mark ronson. This is bloomberg. David we will have much more on that Columbus Ohio policy. Senate democrats outlined their conditions for supporting future tax reform legislation. The letter says the tax burden cannot be increased for the middle class and the overhaul has to happen regular methods, not reconciliation, which would let republican skip the 60 vote threshold, and the package cannot add to the deficit. Joining us now is sahil kapur. This letter says just in general on principle but the fact that the democrats are engaging with this issue in particular. Should we read this as a good sign that there will be a bipartisan effort to tackle tax reform . Sahil i would say its pretty much the opposite. 45 Senate Democrats and all but three of them can together and wrote a letter laying out several preconditions for even agreeing to speak with republicans and work with them in support of a potential tax reform bill. One of them is they wanted to remove the process of using reconciliation or you bypass the 60 vote rush holt in the senate for tax reform. This is what republicans are considering doing. That by itself eliminates the possibility of bipartisan support unless democrats change course. Another thing democrats demanded is that any tax changes in this bill do not add to the deficit. They worry that raising the deficit puts more pressure to cut programs that they support like medicare, social security, and medicaid. I asked senator orrin hatch about that last deficit demand and his response was pretty straightforward. He said, tell them to grow up. The deficit should not be a redline because he does not think that shouldnt have a congress from doing what he needs to do. David what are you caring about a time table for tax reform . Sahil the timetables im caring are very optimistic. The White House Legislative Affairs director yesterday said bet they would like there to mockups after Congress Returns from august recess in september and october. They want the house to pass the bill. And shortly thereafter, reconcile it and send it to the president. Thats an extremely aggressive timetable. Once Congress Returns from august recess, they have a lot of deadlines staring them in the face. They have to fund the government, raise the debt limit , extend programs like Childrens Health insurance and flood insurance. These will not be easy things to do and it will take up time. Once theyre done with the september 30 deadline, who knows how much Political Capital that will have . There still remains a a lot of substantive divisions and along me to go to get republicans in the house and senate on the same page as to where to go. Big issuesre the that grab a lot of headlines like Net Neutrality and the like. How about Something Like expensing . Theres disagreement over that as well. What role is that playing in the debate as it unfolds on capitol hill . Sahil is a really important issue. The House Republican blueprint that speak of the house paul ryan endorsed last month calls for immediate capital expense and for businesses. And have highlighted this the chairman of the ways and Means Committee has also highlighted this as a signature feature of their plan. Of socalled big six group white house congressional leaders that have been meeting have not called for immediate expensing. Theres a little uncertainty surrounding that as well, but its certainly an important goal. David sahil kapur come a think you very much, joining us from capitol hill. Want to turn to tax activist and founder and president of tax reform, grover norquist. I was asking his sense about the timetable of this happening. Optimistic youw are that you will see tax reform on that timetable. What is your sense of one things will happen . Grover i think youre looking at a bill written and presented to the and i can people in september the American People in september. In a month or so, you have that pass the house and senate and get signed. The reason that this is easier to get done is that there is not as many moving parts. You can think the democrats are setting the conditions under which they agreed to talk to people, but they have written themselves out of this conversation. We will not be wasting any time talking to democrats about why we should raise tech its because republicans are committed to cutting taxes. You see agreement between the house, the senate, and the white house on somewhere between 50 20 business tax rate both for corporations and passwords of subchapter s corporations, partnerships, and so on. There will be a debate on what you can fit in. He talked about expensing. I think its a great idea to go to full immediate and permanent expensing. You would like to see full, immediate, and temporary expense of. You get full expensing for three or four years to take you past two elections. As with the r d tax credit, which used to get extended every few years, i think you would see that become permanent, but it would not be permanent and the original bill. We have 50 expensing. We would go to full 100 for several years. Everyone agrees to get rid of the death tax. Is a shell of its former self because of previous reductions. Getting rid of the alternative minimum tax is something that all republicans agree on. David you mentioned that there is unanimity among republicans. What do you make of the suggestion from steve bannon that there could be a 44 tax for americans inside 1 million or more . Grover i was pleased that i finally have a visual for the expression a dead cat bounce. That was an idea that was thrown out and nobody, nobody said interesting. Nobody said good idea. Nobody said interesting. Its fascinating. It has only been tried 3000 times in recent history. The reason you have high tax rates proposed or in reality is to convince the middle class not to mind when you screw them. The point of bringing down the tax rate is to make it easier to cut everybodys taxes. High marginal tax rates are not just paid by the time the kids kennedy kids. You dont mind 10 30 rates on yourself. It was a bad idea and was received by republicans and everybody looking at it as a complete nonstarter and we can now move forward. David does it Say Something to you about the repulsion party today that there is a conservative faction that would be in favor of Something Like that . Do you worry about fractions in your pumpki the republican part . Grover know, we have almost every republican in the house and senate who has made a commitment to never raise tax rates. You cannot get the votes to even think about doing that even if they voted with the democrats. There are not enough votes to make that happen in the house. Congressmanublican and no republican senator and no republican president have had anything cheerful to say about that idea of raising tax rates. It is somebody on the side who is not elected to anything who has an idea, they are entitled to it. We have a republican house, republican senate, republican president all elected on just the opposite. Its united Republican Party. We had three people not on the program with health care reform. Youre not going to have even three outside the agreement when it comes to tax reduction. It is much easier for the modern Republican Party to agree on taking taxes down than almost any other reform you can look at. Again, these are all issues we voted on before, we discussed before, and we have run on in elections. That is why when you say youve got to move quickly on tax reform, the House Republican spent three years writing their version of tax reform, which they put in front of people. The president campaigned for more than a year with his outline, which is now what we are looking at, his outline. Rate reduction, more expensing, doubling the personal attention. I should not have skipped over that, but doubling the personal exemption. Taking rates down for middleclass americans and the folks in the senate are in the same place as the house and the president on these issues. That is why its going to move faster than you would normally think . David great to speak with you, grover norquist. A bit of breaking news from our cauleystein San Francisco. Facebook a video chat device. Sarah frier joins us now from San Francisco. What exactly is facebook trying . O pioneer here what is what is facebook working on when it comes to video chat . Sarah they are working on a screen that is the size of your laptop that would fit in your home and you can use it to have more immersive conversations with the people in your life. Basically it would have a touchscreen and a very sophisticated camera that they are working on that would zero in on movement in the room. And it would basically allow people to feel like they are in the room with each other when they talk. David facebook has bought oculus and spent a few billion dollars on that company. They got hardware through that acquisition. How is this a departure from that . This was something made and grown inhouse . Sarah building eight is this hardware lab that the Company Started last year. They hired dugan over from google. It has been filling with people very experienced. What they are trying to do is trying to solve some of the issues of communication in very social ways. Regina dugan was speaking at the companys developer conference earlier this year and she said its kind of a shame that our phones have allowed us to connect with each other so well and yet they have also isolated us. We are on our phones all the time. What if our division could help people not have that choice . They could bring us into these and bring them into the physical world. That is the highlevel idea here. The question is whether this device will be something people actually want to buy. And whether it is yet another thing that Technology Companies want to put into their homes along with google home analects a certainly becoming a hot space. David great to speak with you as always. Sarah frier reporting that any heard first year of liver television. Kluber television. Julie hyman has breaking news on dish. Julie apparently it is the target of perhaps softbank. According to the japanese new service, softbank is apparently exploring the possibility a merger between sprint and dish. It does quote an unidentified softbank executive as saying letting go of sprint is not an option. This consolidation pushes an offensive measure. This chair spiking on this. The shares spiking on this. This follows news on the heels of yesterday that the chairman of softbank might be interested in targeting Charter Communications. This has been the target of speculations in the past. Shares are higher today on the backs of earnings. Sprint shares rising 10. 5 . The company posting an unexpected profit, although it did lose subscribers unexpectedly. A lot of moving parts going on in the story here today as those dish share spikes. I mentioned Charter Communications as well because this might be the on man out. It is unclear whether john malone was interested in a deal. You can see them taking a little bit of a leg further down on these headline profits. David breaking news this afternoon. Julie hyman, thank you very much joining us on the latest news about dish. Bloomberg has learned that wall street regulators will rewrite the volcker rule. They will begin working together on a revision. Here to talk about what is planned and what the rewrite to look like is jesse hamilton. He joins me now from washington, d. C. You mentioned to get behind the closed doors and they met in closed session friday last week. What did you learn about what theyre planning in regard to the volcker rule . Jesse they are about to start rewriting what has been one of the major ones in the side of wall street banks ever since the enactment of the doddfrank at the 2000 act in 2010. It bans banks basically from investing their own money and also investing in hedge funds and private equities. The five agencies that you mentioned will be sitting down and will be rewriting the text. This marks the beginning of the financial review Regulation Movement that the Trump Administration has long been promising. David how much power do they have to do something here . This was something brought about because of legislation. The chair of the financials oversight now is treasury secretary steve mnuchin. Report and lengthy chapters on banking regulation. How much power do these regulators have to make real change . Jesse they do have considerable power. The work will be based somewhat on the report that secretary mnuchins treasury produced very recently. The fundamental existence of the rule can be threatened by this because it is a law and it would have to be repealed by congress. The regulators can only sort of work around the edges of the rule. They can loosen some of the standards and it, which would be a very significant move for wall street. David what has the treasury secretary said to you in advance of this meeting as well about the volcker rule and specific . Jesse he has been careful about how he has addressed this, but he did say that the talks at the Financial StabilityOversight Council has been very constructive and they are moving forward with the regulators, including the Federal Reserve and the securities and Exchange Commission and three other agencies. David this approach to the volcker rule in particular obviously one of the bigger ones and what it says about how this administration is going to approach the rest of doddfrank. They were put in place after the financial crisis. How much of this gives us a sense of attack they will take Going Forward . Jesse this move is very interesting. Certainly the bigticket items that the administration has promised remit to the done in congress. Happeningat this is is getting the regulators sort of moving behind the scenes and its made out to be more effective for the administration. Cant makeke very major dramatic changes, but that will start the ball rolling. That is jesse hamilton, bloombergs banking regulator. We are going to speak with diego fair of Greylock Capital Management of the clinical and the arrest of opposition leaders over the weekend. That is coming up here on bloomberg. David a little shot of the u. S. Capital. Lets start with the headlines on the bloomberg first word news this afternoon. Mark richt and has more. Mark barton has more. Mark bill shine is in consider for a white house job. They say shine spoke last week. And he was supposedly talking about taking a position on the communications team. It is unclear if the ousted former Communications Director will impact his chances. Personallynt dictated his sons misleading statement on a meeting with the russian lawyer. Donald trump jr. And the lawyer are merely met to discuss the program about the adoption of russian children, but the nemo show that mr. Trumps son had accepted the meeting after being promised damaging information about heller could hillary clinton. Have talkedwmakers about the former prime minister. He resigned last week after acquisition of assets. A clears the way for the younger brother of the former prime minister. To qualify for the post, he has to win a National Assembly seat in an election. Trying to gets nearly 14 million in funding from the federal government to help pay state Law Enforcement over the construction of the Dakota Access pipeline. Even if the funding request is granted, it will only make a dent in the 38 million spent by the state. The pipeline moving oil from inth dakota to illinois june. Dayal news 24 hours a powered by 2700 journalists and analysts in more than 120 countries, i am mark come to an. Sanctions president the president of venezuela for undermining democracy. Highprofile opposition leaders were seized from their homes at gunpoint last night. Joining us now to discuss Bloomberg Europe chief, nathan crooks. Let us know about who was obtained or abductive last night. Nathan these were two very highprofile opposition leaders. One had been freed from house arrest a few weeks ago and the mayor of caracas had been on house arrest for the past couple of years. They were both very emblematic leaders of the opposition because of the previous tension. The videos of them being detained and posted on social media were very graphic and one was pulled from his house wearing blue pajamas. Just now, the family has released a video going around twitter like crazy, saying his wife was pregnant and he prerecorded this message on july 17. Imagery goinghic on in venezuela right now. David let me ask you about the statement in the Treasury Department and the remarks that the treasury secretary made at the white house. What stood out to me is that they were not shying away from using the word dictator or dictatorship. Nathan that is a word that you are starting to see more and more. Its a controversial word for a lot of reasons. You can look back of the trajectory of maduros government and definitely has become more and more authoritarian. A lot of people will say this really started last year, especially when they moved to scuttle the recall referendum to try to hold. A lot of this is nothing new if you ask people who are keeping an eye on venezuela. When you hear the treasury secretary, during a dictator, its very strongly which. Language. David the catalyst was this referendum over the weekend and this new assembly they are planning in venezuela. What powers is he going to be imbued with . Was that group going to be able to do . This assembly is going to sit on top of all other branches of government. We just had one of the socialist Party Leaders say at a press conference in caracas that it was going to convene for the first time in the coming hours. Once it convenes, it will sit on all other branches of the government. People will watch to see who this body elects as its leader. ,nce that leader is appointed technically this person will be more powerful than maduro. Are watching to see if an ally will be placed in power of the body or if it will go to a rival faction. People are mentioning a name who is a venezuelan powerbroker within the socialist party with strong ties to the military. David that is nathan crooks joining me today from miami with more on the crisis in venezuela. Now is an analyst at greylock management. You or someone who has been active in investing in the region for a long time to how cingular is the situation and what we are seeing unfold in venezuela . Diego it is extremely cingular singular. The Current Administration is trying to use democratic arguments to do something highly undemocratic. Usually these type of actions in and you have an unusually harsh crisis, economic crisis, but the country seems to committed to continue paying. David what is the debt like in venezuela . It has not defaulted yet. Do you see that as a possibility Going Forward . About then you talk bonds owned, youre talking around 60 billion. When you talk about the overall debt in the country, youre adding off the Balance Sheet debt and things like that, but youre talking north of 150 billion. Its a country that in theory could be extremely rich. Depending on which venezuela we are talking about, its a lot of that or its not. Int is one of the key issues venezuela. Is it a liquidity problem or solvency . It really depends on what type of economic model is Going Forward. David from an investors perspective, is there an opportunity in this country right now . I bet its a bit of an ethical quandary as well. I bet someone would want to step back from this after you describe the political crackdown that you saw overnight. Diego theres a lot of conversation about that. There is no direct financing to the government, so it doesnt become a situation that as an investor you can do anything about it. Its not about whether you touch it or not. Changes will happen in venezuela. Shown a remarkable willingness to pay thats not entirely logical based on the fact that a lot of the revenue that the country obtains comes out of exports that might be somehow disrupted in a case of default. Howgovernment, no matter pathologically they run the economy, they know that they have to continue paying. As long as you think the government is going to remain in some sort of power for the near theye, chances are that are not going to continue paying. Im not advocating that the good outcome for venezuela come about with this measure, its likely that it will take longer for the opposition to finally get rid of the administration. David we see sanctions on individuals. That was passed yesterday by the president himself. Its looming large on whether the u. S. Will do something about oil exports. Is there a real shift its oil and perks imports were to be curbed . Diego i think imports were down like 70 from their peak. A lot of people thought that a year or two years ago a brick wall. I would say that yes, measures against your industry, because lets not forget that venezuela to the u. S. , and the important it actuallyat is receives cash. A lot of that ultimately comes from the u. S. Oil is a commodity and that means the effective price you will receive will be lower because instead of traveling a day, they have to go 40 before they find a buyer. I think they can betray this attack in the country. That is why i think the government is going well with the sanctions because it is showing concern about the attacking and giving even more argument would be not entirely rational. Thank you for joining me this afternoon. Up next, President Trump not shy about touting the performance of equity tweeting the dow is just shy of 22,000. Cochairman howard has more cautionary note. Interviewr exclusive coming up next. A notableable stock unit to watch. We approach the stock symbolically this afternoon. E analyze what it represents to discuss is Oliver Renick cu has been watching the market and twitter. We have got to watch twitter. Donald trump loves to watch the equity markets. A 22 thousand level which does not change much fundamentally for the stock market. We celebrated 20,000 together. Oliver a milestone is a milestone. Win the presidency is a new high on the market coming love to take advantage of it and say here is gratis what with what is going on in america. If you were only to see Donald Trumps commentary during the stock market, it would paint an interesting picture of who he is and his honesty. I say this because it is something that is really hard to nail down. Nothing he says about the market has been really wrong. Could hit an alltime high. The question is how it got there and why. Has to dogest answer with trump. Im in the Financial Analysis now. Back 20hart this thing quarters because this gets interesting. Thisant to look at the way dips. Recession that lasted for a year. The upswing out of it, that is why you would say the market is up. Dividing into his heart to do. Is he wrong . No. Very quickly. A lot of people would say that the correlation is not there. Getting a lot. Odds throughout the president ial campaign. This tells us a lot. Kidding around it but when we get to february, it suddenly starts to fade and you see the stock go down a bit. Quincy is the. Uintessential trump stock since then, not so much. Thank you. Our stock of the hour. Daily political turmoil out of washington. Stocks have been trading at record highs. Howard marks is raining his alarm. Schatzker asked if investors will have the patience for underperformance that marked a warning and a caution that proved too early. I believe so. On, we tell them when the market cooks, and you get into the climate where the people who make the most money it will be us. Intelligent and they self select. They say, i do not necessarily want to make the whole return on the market when it does well. I want to be protected in the bad times. At one point in the memo, you call the structure around , 100anks vision fund billion dollars vision fund, questionable. Is that fair . It is not really the Fee Structure. It is the capital structure. 62 of it has to go into debt and 38 into equity. If they make good tech investments and produce a high return, the only get that on 38 of your money. I think you are taking substantial risk on all of your money. Might do is they buy charter for 65 million. Capital . Wise use of i do not know situation well enough. But you have upside on 38 and i believe downside on more. The calculus is weighted against you. Viewer to look at every capital and Fee Structure on every oaktree fund ever, could you say with confidence that none of them was ever questionable . Well we get on our closedend funds. 20 of the profit. Rate. Have it hurdle clients have to meet make a percent net of fees. I think it is fair. Incentive fees have been the story of investment in the last 50 years. You can always complain about it. Should it be 20 as opposed to 15 or 30. Unfairo not think it is that there is a hurdle rate. What about bank stocks . Mentionried a special in your memo. It appears you have concerns about the momentum behind the amount of money people are pouring into them. Onwe were to measure them the basis of valuation and we use the price on forward earnings, it should be coming on most of those stocks. The ones that have earnings are doing well earnings side. They still embody a lot of optimism. My point about banks is not that they were bad investments were overbalanced. It was the anointment of one group of super stocks is indicative of the bull market. A group treated like they have been treated in a cost of cautious and supermarket. It should not be read as a complain about the group but indicative. Of all the things you highlighted in the memo, we have covered a lot of them. Emerging market and debt, skinnys reds and debt. What is the one that concerns you the most . I will single out two. Next flex on set three percent. Some videos give you choice of endings. What is it which is a good ending for bonds . The best is three or 8 . The company choose up capital. The best you can do and all the other and is our worst. The fact that people will buy an from the company like netflix is one. Argentina fact that can issue bonds. Five evaluations of the last 100 years. What are the chances they get through the next without debt repudiation, coup, or scandal. It is all about investor willingness to take risks as opposed to insisting on safe. When people are highly willing take risks and not concerned about safety, i get worried. That is earlier today on bloomberg television. Up, find out what the city of columbus, ohio, was doing to were companies to invest in the city. This is bloomberg. David this is Bloomberg Markets the trump economy. Citizens of Columbus Ohio just adopted tax incentives to lower investors in Companies Like foxconn, which announced a big investment in wisconsin. For more, i want brian martin, who joins us from congress. What has the city council done here and what would be eligible to benefit from the incentives being changed . The city Council Passed an ordinance to create a tax incentive. They would be able to negotiate it would pay over the course of 30 years in excess of 1 million. They would have to pay a minimum of 1 million m and have cap on what they would pay above that, and it would only qualify for businesses that has created a hourand jobs paying 15 an and have at least 7 billion in annual tax revenue. A fiercely competitive space. States are competing with each other as well. It is columbus versus detroit. Our other cities doing what columbus did last night . In michigan, they passed a passage that would apply to Companies Like foxconn as well. It is part of a game cities have been playing to make themselves. Ore attractive in columbus, they are saying it was not specifically done for foxconn but rather they want to have the incentive available for we arees like that and us between columbus and detroit beyond the 10 billion plan announced in wisconsin last week. David thank you. I also want to flag a piece looking at how that program will shake out. A columnist based in taiwan. A big interview tomorrow. He sure to tune in at 8 30 a. M. New york time. Lloyd blankfein will be with us live. You can catch all of our interviews on the bloomberg including that one with howard marks. Tv. You can also find breaking news there and charts as well. This is bloomberg. Scarlet julia it is 2 p. M. In new york, 11 a. M. In San Francisco and 11 p. M. In london. Im scarlet fu. Im julia chatterley. Welcome to Bloomberg Markets. Scarlet we are live at bloomberg World Headquarters in new york. Here are the top stories were covering from around the world and on the bloomberg. The job the Dow Jones Industrial average turning within reach of 22,000. Stocks being pushed higher on the latest wave of corporate earnings. The worlds biggest futures operator reporting record profits. The chairman and ceo of cme group gives us insight on the groups strategy ahead. In washington, lawmakers are trying to find their footing on tax or firm tax reform. They are setting up what one of them calls an aggressive timetable. U. S. Markets are closing in two hours. Lets get a check on where stocks are trading before apple reports later this afternoon. The nasdaq lagging behind again. Julia it is. In t