a biotech stock up more than 100% in the past year. there have been a few, right? this one has done better than the rest. we ll talk with the ceo biomarin and talk about the next catalyst for his company. which are still seeing gains. we are off the highs of the session. we opened up nicely. hanging in there in positive territory with the dow up 24 points. s&p 500 pretty flat. nasdaq, as well. flat but we are hovering near record highs. strength in financials today. outperforming. pob pisanimiss an bob pisani tracking morgan stanley. the market maker trading all the bank stocks. morgan stanley, new high. wells fargo, new high. suntrust new high. key corp. comerica, fifth third. let me show you this full screen. big cap banks up about 11% this quarter. that is way outperforming the s&p 500, only up about 2.6%. it helps that rates moved up. interest rate sensitive groups moved down. you have reits down. dow utilities down. home builders all down. that money coming out
that s why you re here. can t find anyone. we have one guy left. simeon. is he bullish? he will be on. already talked to him. one of the things he s saying is even if if there is a stumble in some of this stuff, market already deserves to be here, which is what i think. i think so, too. in terms of tax policy or that stuff is a bonus. just not having the private sector vilified on a daily basis, not adding a new regulation, layering on a new regulation every day. when you take that off, it s going to come back to a more normal level. i m with you. i think i know you are. the multiples are getting a little stretched, but interest rates, you know, stock prices are a function of earnings and interest rates. interest rates are historically low still at 2.5% roughly. you re the one who coined t.i.n.a. i have. there is no alternative. and we have other things to talk about which in particular with the trump administration, we re not talking about financi
the dow was down about 145 earlier. technology and financials have chip makers suffering. transports down 1%. united continental the biggest looser and they have been a looser on a lot of fronts in the past 48 hours. gold up more than 1%, on track for its biggest gain in three weeks. thank you. here is what else is happening at this hour. starbucks is moving beyond coffee wi coffee. a new lunch menu at more than 100 stores in chicago. a management selling hostess brands. small business optimism falling off the post election highs we saw. running out of steam. we begin with the nation s top ceo s back at the white house today. live at the white house with the latest. reporter: it was the president s 13th meeting with american business leaders, his 15th meeting if you count business executives from germany and canada, all of this within 12 weeks of office. today s meeting was the second such meeting. the largest multi nationals in the u.s. were here visiting with
police in brazil arrested 12 team po allegedly plotting a terror attack at next month s summer games in rio. authorities say the group may be linked to an islamic state cell. local news 24 hours a day powered by 2,600 journal itses and analyst around the world. bloomberg west is next. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org emily: i am emily chang, and this is bloomberg west. coming up, the roger ales era officially ends at fox news. we will break down the story behind this extraordinary exit. plus, the tech earnings parade continues. e have reports from paypal and pandora. donald trump takes the stage tonight at the republican national convention. we will preview his speech and analyze the thinking behind the endorsement. first, for our lead. roger ales is officially out. he has resigned after sexual harassment allegations by a former anchor. rupert murdock will take over the
accused of being the mastermind behind a failed coup by turkey s military. gulan has declared his innocence. is next. west this is bloomberg west. tech earnings continues. zynga reporting earnings. we have their second-quarter results. lincoln banners second quarter prepares to join the microsoft family. we will break down the numbers. is life better when we are connected? bank of america thinks so. they are giving a billion lars to financial technet technology. pokemon go may be high in the business, activision take to commit zynga and the others the farmville maker s user base slipped again in the second quarter. the new ceo is struggling to secure the next big head. take two posted stronger sales. grand theft auto. nba two and battle born, a new game. activision rose 50% from a year ago thanks to a strong debut of a first shooter game. joining us now is christian. he is a cofounder of super cell. matt, let me start with you. titles.and activision, or take two, and