Director leaking communication with the president. Entitled totrump is loyalty from those serving the administration. Kasowitz said the president told comey i need loyalty, expect loyalty. In the u. K. Voting is under way in the second eligible election years. A total 650 members of parliament will be elected. Almost 47 Million People are registered to vote. Tune in for bloomberg tv one at 5 00 p. M. Today new york time. Well have instant analysis of polls in the exit u. K. Are published. Said more thans infectedople have been an outbreak. Health officials claim the on the 2yearold Saudi Campaign against rebels. Bloombergive from headquarters in new york. Joe were 30 minutes from the u. S. Ng trading here in scarlet u. S. Stocks trading mix of super thursday. You question is what did miss. Scarlet james comey said President Trump lied about his firing. The administration then chose to defame me and more importantly the fbi. By saying that the organization in disarray. That it was poorly led. That the workforce had lost in its leader. Ande were lies plain simple. Scarlet wasting no time, attorney markal kasowitz said the president comey. Pressuring the president feels completely vindicated and is eager to moving forward with his agenda and business of this public cloud removed. Scarlet the day is far from votein the house moves to on a bill that could overhaul doddfrank this afternoon. Well take you live to capitol hill this hour. Julia first lets take a look where the major averages stand. Standing abigail is by. Considering today was super thursday. The comey testimony and the u. K. Election, not a lot happening stocks here in the u. S. Were looking at small moves once again, i say small because 500 this week everyday has closed down less down or up, times onethree percent. A fraction. Wn just the nasdaq holding on to aboutly bigger gain, up. 3 of one percent. The dow and nasdaq put in all time highs. A look at the russell 2000. Points away from potentially closing record high. Stay tuned there. Some of the out performance for russell 2000 is coming from the chip sector. The stocks up 1. 5 . The biggest waiting for the up 3. 7 now, upwards fourth day in a row. That time trade. He thinks this has to do with things. Ship in new apple products. Hes taking a ton of calls from relative to currency and whether or not this could be positive. Not entirely clear now. Helping they this stocks. We have Texas Instruments higher. There. Ves helping to explain or story in the day, the financials we do have the financial trading higher have been helping the major averages trade higher earlier. Those gains just a little bit. America, j. P. Morgan, citigroup and Morgan Stanley outperforming. Banking index having its best day since april 24th. J. P. Morgan big news today. The fact that coo matt zames is after 13 years with the bank. Havent had much of an effect. Does really have potential successor for jaime dimon the ceo. Did certainly make some headlines there. Julia thanks. Fired fbiu miss . , james comey took center stage at Senate Intelligence hearing. One question is whether any of the communications he had with amounted tot obstruction of justice. Reluctant to express opinion on this key question. Do you think donald trump with russia . Its a question i dont think i should answer in an open setting as i said, when i left, we did not have an investigation on President Trump. Thats a question that will be answered by the investigation i think. Julia more highlights. Cirilli. Ng in kevin so many more questions. Things for me, what came out of the statements from Mark Kasowitz. Trumps personal attorney. When he said look, what was that thed here was president is not under investigation in connection with the russian elections. Said theres no evidence that what that a single vote changed russianult of interference. That cuts to the core what we here. To investigate remarkable day here on capitol hill. The former fbi director the first time publicly since President Trump fired him. Now according to the republicans im talking, no questions about russias involvement into the president ial election. The question though, divided ism a political standpoint whether or not President Trump obstructed justice. Some of the Top Republican who criticized President Trump heavily by senator john mccain marcondsay graham and rubio all defended this president. Folks, saying there wasnt no obstruction of justice. Senator rubioth to ask him about what the president can do to respond to interference in the election. I dont think its a question of fear. Question of how. To the extent that interference involved interaction with americans, i think president will be interested in some of those americans who were his campaign. Comeying to the director the president believed there was thislite associated with campaign. Senator Lindsay Graham has a that increase sanctions against russia. That is due for considerations. Approve bid the Senate Banking committee. I spoke with a chairman yesterday, this comes on the day removee house expected the bill that repeal parts of doddfrank. Going to be able to take up any of those legislative first they deal with russia. Joe Kevin Cirilli feating day in fascinating day. Whatd you miss . , going to the of defaults on treasuries has become routine as congress squabbles over federal finances. Bloomberg intelligence analysis suggest the government will if the debtoctober ceiling isnt raised. Is bloombergw Intelligence Analyst ira jersey. Thank you very much for joining us. This thing every custom years. No one really thinks were going to default. As we get closer, you do start to see some reactions or some anxiety build in the short term end of the market on fears that could happen. Thats right. It takes between two and three date. Before the drop dead best guess is early october. That being stated, theres a lot that go into that date. We get really close end of august. Thats something actually thats officials have been talking about. We get too close to for comfort. Wants why they really congress to act in july. Scarlet how important in the were seeing here between mulvaney and steve mnuchin. The day thatsf a political decision. Buy u. S. E who government security, the safest securities in the world uses benchmark for every dead everywhere on our planet. Aey would like this to see permanent suspension. Makes a budget and that budgets has a deficit. Its a spending issue and revenue issue. Its not whether or not we debt. Pay our keep having. Ent we scarlet until they make a decision on that, its a well. Ising issue as how does the government prepare for this in terms of what kind they do make available to investors . One of the things thats likely to happen, shorter and shorter maturity t bills. Normally they issue lot of six bills. Ills and one year theyll issue one month bill. Bill. One or two week right up to october date. Joe you said the word armageddon. When we think of bad things happening in the world, you treasury. The knee jerk move is to buy treasuries. When the treasury market itself is the source of anxiety. Thats one of these unknowns. Nobody really knows about. Default,em with the once we default and dont make a payment, we coupon cant take that back. Will people believe that the truly a soundt is investment. If not, you wind up going to germany or other places in the world. Even with zero or negative interest rates. Scarlet i want to go back to t votes. If were looking to issue short do toills, what does that the demand picture. What have we seen in the past . We hitt the first time up against the debt ceiling. When you get within a couple ceiling,of the debt you see a dramatic rise in yield. When this happened in 2011, were zero. Tes they rose from zero to 25 bases points. A lot. Oesnt sound like thats a fed hike. It happened in short term. It happened. This particular chart shows the last three times that this happened. You saw very dramatic in telling bills. Es in t you cant expect. Everyone hopes well get it done hand. Joe i have to wonder if people sell t bills. The knee jerk move. Bloomberg intelligence ira jersey. For coming on. Julia were getting headlines the bloomberg. Trump has been speak ing at the white house with governors and mayors about his infrastructure fund. This is infrastructure week. Hes saying that infrastructure will take off like a rocket ship. Of course, hes speaking at this event. Recordingg to have a very shortly of the comments he made after that meeting. Bring you that as soon as we get it. Scarlet coming up, meg whitman has wok bloomberg she to do. Julia meg whitman saying the company is facing a cloud. Isexplained how the company reexamining strange and partnership. Emily chang. With see the way we see world is around i. T. What do you want locked down in data center untouched by your only employees. Privateht you want in a cloud with public cloud economics. Managedld you want in service. Were seeing for reasons of security, control that people are beginning to say, i wonder if i had gone too far and put in workloads into the public cloud and they want to bring workloads back to print. That mean for hpe . Whatseans we have to do in our customers best interest. Their best interest is around creating a multicloud environment, a hybrid i. T. They can bewhere the right landing spot for their application and workload. Dont end upthey lock. Endor we want to give customers cloys choice. Theres been some questions Cloud Partnership with microsoft. How is that going . Its going well. It really is going well. Done a lot of business with microsoft for many years. Our public cloud partner. When we work with a customer, these are the workloads i like to have in the public cloud. We say, you know what, its a opportunity. Lic if you want cloud functionality, stack. The i think microsoft got a very strategy and were great partners with them. Its about giving customers choice. Where do they want their workload and data. Public nt a if they start making some of their own data center equipment, hpe . Does that mean for well, this is a dynamic industry. Its interesting. For a long time, infrastructure wasnt in fashion. We see all kinds of people getting into the infrastructure business. Thats what microsoft does, toll try to figure out how have a relationship around cooperation. Work figure out how to with them. Lot. Mire the company a tech stock has been on a tear election. What are the Market Dynamics that you see helping or hurting hpe . Its a challenging Global Environment right now. Countries that are doing very well. Theres uncertainty in a number of countries. Forrtainty is not good business. Our strongest market in europe is germany. Germany is doing incredibly well. Done a lot of business in germany. The u. K. Is challenged. Is countytor spending down. People investing in u. K. Are holding back because of brexit. What will happen here. Maybe i should take a little time to think it through. Japan actually is pretty strong us now. Australia is coming back. Latin america is doing very well. Continues to be uneven. Sometimes one quarter strong and we see weakness. Mixed environment. Everye to make it work in environment. We sell as hard as we can and as much choice. Youve led several different high Profile Technology companies. Im curious what you think about the unicorn start ups. What do you see them doing well. You do you see them doing poorly . Listen, the startup scene in silicone valley and elsewhere its live and well. Its a renaissance of innovation. Think about what youre seeing. Theres a very innovative companies. The ability ofs Venture Capital money to keep funding, were starting to see a pull back there. One of the reasons that we were be buy simpl they needed to in we think there will be unicorns and new companies. Think it does present an opportunity for us as we think strategy and innovation strategy. Hpe is heavily investing what machine or your vision for the future of computing. How will this help customers in and how is that vision evolving . Challenges areig industry faces is the demand to build data centers, demand for space and the demand for energy is insustainable. We work in parts of the world is no more energy on the grid. Years ago a number of to seek through the fundamental model of commutes. Cpu centric model. We turn that on its head and a Memory Center compute and copper wire data. Smaller space,n far more energy efficiency. With theer pleased progress of the machine. Embedding parts of the technology into our next servers and storage. Were super excited about the amount of data that can be with very low power, a small forumd in sector. Its on track. About it. Ted julia that was meg whitman ceo of hewlett packard. Coming up political fallenity in europe has radar. Well show you this evolving next. C. Scarlet european stocks have been benefits from a rotation out of the United States. Stocks have now gained a yield advantage as well. We know weve been talking about these lower bond yields across the euro zone. What this chart is showing a the euro stock, the dividend yield and the yield. Ese when we see the green part, that stockses european dividend yield climbing back above portuguese ten year yield. It has the highest yield among euro area. Earlier in the year, the stocks have lost yield advantage. See now how its come back into the green. Once again, another reason that piling intoe european stocks now. Joe very popular theme weve show. Many times on this julia as long as youre specific about what stocks youre talking about. Its interesting to look at what there. D particularly youre looking at the yield curve. You looking at the fatness of the curve. Curve narrowness its been thatve months heading into ecb meeting. Thats going to be okay bondholders. Not so great if youre talking about the banks. When youre talking about europe. Ng curves in you can see what this chart is showing, you got two ten spread there in blue. Financials index in white. Theyve tracked each other closely. Flatter curve, not so great for banks. Is, of course,on what did you miss. The question is, at what point we see more acceleration of rate hikes in the u. S. Rate tore waiting for growth. In the euro area its the same thing. From Bloomberg Intelligence euro area earnings, subdued. Very nowhere near the peak that we have seen precrisis. Reminder, this is a global phenomenon. U. S. Thatctors in the mediocre wage growth. Europe, theyre not to where they were in 2011. Barely where they were in 2013. Another reason that mario is not going to be under much pressure time soon. Te any isia its part time work going to workforce rather than full time. Which is suppressing wages. Closed here in the United States is next. Take a look at the major indexes. Four minutes to go before the close. Youre looking any moves in the dow and s p 500. Big movers today. Scarlet not that closing at a new record high. The s p and dow barely super thursday. Testimony. Omey joe if youre tuning in live on twitter. Welcome you. Scarlet we begin with our minutes. Nasdaq climbing to another record high. Dow and s p closing in the green. Hose are barely gains another day another gain. People just dont Pay Attention politics. Joe lots of news. Not much mark reactions. Sort of familiar pattern. Scarlet market was in bond yield. Those looked higher. That was good enough to push up the financial. Looking at group bank returns on the s p 500, financials up by better than one . 1. 2 . Win you go within that sector, theres 65 Financial Companies in the s p 500, 60 of them gained and only five of them declined. That give you a sense of really how broad this advance was within this sector. Shares which have been on fire helping to power the nasdaq. Climbing by a third of one percent. We should mention as well, there are a lot of individual names including a bit, nordstrom. Best dates since may of 2014. Family is considering taking it private. Trouble across retail is one reason why. Nordstrom has been struggling foot traffic. G high. A is trading record after forecasting sales growth, that topped every analyst estimate. Defying expectations that growth ist go down because china kind of consolidating at 6. 5 growth. Nvidia record high for 7. 3 . The highest. Down threes almost percent on a downgrade. Lowering the price target there a share. Joe and in government bonds, ofrlet mentioning that a lot the action in higher yield, you see it there in the ten year u. S. Yield. Of bounce back there. Still very low by the standards of this year. Big movers, japanese yields moving uprising eventuallyabout how might unwindapan monetary policy. This is debate happening around the world. Inay, that was most manifest japanese tenure. Scarlet six bases points. Market. N huge. We love it. Land. Cy julia dollar index. Folks today on the euro dollar ecb just being slightly lower. 2019. Ion forecast out to trading 129, 44. U. K. Voting in the general election today. Do expect the first poll readings to come out after today. M. Eastern time i wanted to give you a quick ink whats going on commodity land. Because we saw oil higher early the session. Points here ines wti crude. Look atally here is a commodities. Not a lot of action in the normal ones. Bit. Own a little wheat a gainer. Possible heavy range in threatening up to hectors. Metals having a good day. Copper nearly 2. 5 . Julia some of the biggest names in Money Management told us how they feel about the current environment. Start buying low and selling high. Crossing yourd fin fingers. Its a market where you will susceptible to bad news. Even small doses of bad news. Complacency is pretty scary. See even the evaluations of markets as a whole are the stock in the bond markets somewhere in the 90 percentile. Not cool. Probably didnt miss James Comey Testimony, which seem to everyone was talking about today. Other events on this so called super thursday. Decision, the u. K. General election, which will legally be able to cover the 5 00 p. M. To talk about all of this now, editor ofexecutive inbal economics dan moss and san francisco, I